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August 2018 News

Planning Notes | Software | Events | Tech Tip  

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Retirement Plan Required Minimum Distributions (RMDs)

by Mark Snodgrass

Tax advantaged retirement plans can and do offer participants great income tax deferral and tax-free growth opportunities; but as they say, all good things must come to an end.

Account owners generally have to start taking withdrawals from tax deferred accounts when they reach 70½. The withdrawals have to be more than a calculated minimum amount, and the amount withdrawn is taxable income except for any parts that were taxed before (non-deferred basis) or are tax-free distributions from designated Roth accounts.

Clients have questions about how RMDs work. Advisors need to show examples of potential withdrawals, and of course everyone wants to properly include tax implications of future withdrawals. RMDs can significantly impact plan success. Explaining and demonstrating RMD detail is important, so all Money Tree retirement illustrations automatically include estimated RMDs throughout the planning process.

Read the entire article here: Retirement Plan Required Minimum Distributions (RMDs)

 

 

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What's Next: TOTAL Updates Coming Soon

In the works: TOTAL Planning Suite will soon include a Projection Graph that updates in real time as input values are entered and changed. This new graph is similar to the Retirement Capital Graph in the reports, but shows long term effects on client projections as entries change. Money Tree Development is also pursuing a greater endeavor. This focus is to convert all of TOTAL to a new calculation engine, resulting in faster and more efficient reports. Updates have already begun, and the process will ultimately fully convert all reports to this new calculation mode. 

Details on TOTAL's upcoming releases will be shared on Money Tree's blog as soon as they are available. Stay informed and up-to-date with the latest software news by subscribing to blog post email notifications . Sign up on the top right side of the blog. Set notifications to be delivered to your email at your preferred frequency: instantly, weekly, or monthly.

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Software

Silver Online - Client Access Set Up

Silver Online's latest release features a new Client Access Set Up. It's a simple and sleek way for advisors to setup permissions and access to their clients. An email invitation is sent to their clients so that they can create a sign-in to their portal rather than sending a URL link. 

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Events

Holiday Schedule - Closed 9/3

Money Tree will be closed Labor Day, Monday, September 3rd to allow us to spend extra time with our friends and family. Please review the holiday schedule to ensure our team is available to help answer questions and solve problems. 

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Tech Tip

Online Editions - Requirements

To ensure the online editions of Money Tree's financial planning software are connecting efficiently, make sure your operating system and web browser are compatible. 

View recorded training classes anytime:

Silver - Desktop Edition | Online Edition

TOTAL - Desktop Edition | Online Edition | Easy Money | Golden Years

More about Money Tree's Financial Planning Software  Contact our team for answers  Start planning today with a 30-day trial

Visit our website to learn more about Money Tree Software and view our full line of 
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