Run Your Own Example Roth Conversion Numbers Using OnPointe’s NEW Consumer Lead Gen App
You don’t have to take my word for what I’m saying in this newsletter. We just launched our OnPointe Roth software with a CONSUMER APP to let consumers run their own numbers (that are transferred to the advisor’s software backend). You can run your own example numbers using our app right now (and compare it to your current software) by clicking on the link/image below:
Did you know that INCORRECT Roth IRA conversion recommendations can cost your clients and/or their heirs 10’s of thousands and sometimes 100’s of thousands of lost dollars?
Most advisors are UNAWARE they are giving INCORRECT recommendations…but why?
1) Advisors don’t understand the complexities of Roth conversions.
2) Most advisors are using software that is either inaccurate or woefully inaccurate.
Roth Apps/Calcs
Most Roth apps/calcs have 6-10 inputs. It is impossible to run accurate numbers in such an app. What’s incredible is that firms like Osaic, Schwab, E-trade (and others) all have stunningly inaccurate apps. If you want to try the apps offered by these three firms, click here.
30+ Variables
To download a list of the 30+ variables that MUST be taken into consideration to run “accurate” Roth conversion numbers, click on the following link (no sign-up form):
https://www.uploadedimages.net/content/PDFs/Chapter.2.variabless.pdf
If you are using E-Money, Money Guide Pro, Right Capital, Retire Up, Retirement Analyzer, Income Lab, Stonewood, Covisum, etc., and think you are using software that accounts for all the needed variables, you should pay extra attention to this newsletter.
In order to run “accurate” Roth conversion numbers you need to take into account 30+ variables. They are all important variables, but some of the more important ones are:
-Specific effective income tax rate EVERY year during conversions and post-conversion
-Income tax-bracket inflation factor (most programs and no apps have this functionality)
-Where income taxes will be paid from on the amounts converted
-Cash (existing account)
-Non-qualified brokerage account
-From the tax-deferred IRA
-Out of your annual cash flow
-Income taxes on all sources of income including SS, pension, etc.
-IRMAA penalty
-Child’s anticipated gross income to run legacy numbers for the heirs
OnPointe Roth Conversion App
Our OnPointe software team has spent the last 12+ months building what we know to be the most “accurate” Roth app in the industry. We reverse-engineered the numbers of the above-listed programs and we believe they all have significant flaws in how they are running Conversion numbers.
Two Huge Roth Conversion Myths
1) Roth conversions work because you are minimizing income taxes paid over time
2) Roth conversions work because you are reducing RMDs
Contrary to popular belief, MOST clients will NOT be in a higher income tax bracket in retirement. When you understand this, you will understand why designing a Roth conversion to minimize income taxes and RMDs will NOT make Roth conversions a more viable solution.
Want to Use the OnPointe Roth Conversion Software?
It’s only $50 a month!
To learn more or start using the industry’s most accurate software, click on the following:
https://onpointesoftware.com/roth-app-sign-up
13-Trillion Dollars in Tax-Deferred IRAs
I think an advisor’s best opportunity for new revenue over the next 10 years is to market Roth IRA conversion solutions. But when you provide advice, you better do it right which is NOT possible with the other software applications in the industry today. To do it right, you need OnPointe!
AVOID IMOs PUSHING BONUS FIAs TO PAY THE TAXES ON CONVERSION
There is no space in this newsletter to cover this issue. But I am warning ALL advisors to stay away from any sales pitch that uses a 20% bonus annuity to “pay the taxes” on a Roth conversion. The math is absolutely faulty and I’ll have an upcoming newsletter and white paper on this.
