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"I call it going to paradise. It's only a short walk of eight blocks from our home to the campus," says Rev. Lyle Rich, a retired Lutheran pastor. "Being near the campus is one of the reasons Joan and I retired to Moorhead. We're there just about every day."
When the ties that bind are that tight, it's only natural that your treasure will follow. The Riches are 1954 graduates who were married shortly after graduation. Their days at Concordia were formative in their lives, and as they near their 50th wedding anniversary, they decided they wanted to do something to help their alma mater.
"Concordia is in our will, but we thought it would be nice to give a gift we could see in our lifetime," says Rich. "Now is the time to say thanks when we have the ability to do it."
The couple attended financial planning workshops and saw a combination of opportunities facing them. Like nearly everyone, their stock investments have diminished, and they wanted to wisely invest an inheritance from Rich's mother.
 A gift annuity seemed to be the right instrument for them. The Riches transferred assets to the college in exchange for a guaranteed income for the rest of their lives. The annuity allowed the couple to reduce their taxes, and receive a return three to four times higher than what certificate of deposits are currently earning.
"I think the college needs our gifts now probably more than ever," says Rich. "This is a hard time for many people, and for those of us who are blessed with the opportunity to give, I think we should step forward and help fill in the gap between what students can pay and what a Concordia education costs."
In Rich's own case, he remembers earning $1.30 an hour working for the railroad during his summer vacations. He counted on earning about $1,000 a summer, and with part-time campus jobs he could afford tuition. "The railroad was the highest paying work anywhere for students back then, so that's how I paid for my education. You can't do that today."
Helping students at Concordia is paying the Riches probably their biggest dividend, however. "Students are the living symbol of our gift. It's a face and a heartbeat of where our money is going. That helps Joan and me feel that we have a partnership with Concordia."
For more information please select one of the following options:
1. If you would like to view a color presentation of a plan similar to the Richs', please click one of these buttons.
2. If you would like to see your payout rate based on your age and value of your stock, then click here.
3. If you would like to request a printed illustration of a gift annuity with your payout rate, then click here.
4. You may print a gift annuity tri-fold brochure. Click Here.
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