Breakeven analysis used to be the “the only game in town” for helping your clients make Social Security decisions. But with today’s technology available to crunch thousands of start age scenarios, is breakeven analysis more confusing than useful? Check out Maxey’s article, “Social Security Breakeven Analysis—Almost Obsolete” and decide if you need to retire that game.
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Your PlanLab and PlanFacts data is not vulnerable to the Heartbleed security flaw.
The Heartbleed Bug is a serious vulnerability in the popular OpenSSL cryptographic software library. Impact doesn’t use OpenSSL in our data centers.
Impact is pleased to announce the Monday Mastery Series, a continuing series of weekly live practice-building programs featuring our leading financial and estate planning software applications.
The Monday Mastery Series
Practice-Building Live Webinars for Subscribers
These weekly 30-minute live webinars are designed to help subscribers jump-start their knowledge and use of our software applications.
Our inaugural sessions showcase Social Security Explorer and Impact’s Retirement Road Map, two of our best-selling software applications
The Best of Social Security Explorer
Social Security Explorer is our flagship Social Security retirement income planning tool. Released in 2012, it quickly became one of our most popular software applications.
This session is designed to help advisors jump-start and build their Social Security retirement income planning practice.
In this session, advisors learn:
- How to help clients understand their Social Security claiming choices and develop an optimal Social Security retirement income, customized just for them.
- The features that make Social Security Explorer the best Social Security planning software application in the marketplace, and how to use those features.
- How Social Security Explorer’s unique and state-of-the-art interactive approach gives advisors a compelling reason for face-to-face meetings with prospects and clients.
- How to best use Social Security Explorer while prospecting, and in approach talks.
- How other advisors use Social Security Explorer in their practices.
The Social Security Explorer practice-building sessions are being held every Monday at 3 p.m. Eastern Time.
Each session lasts 30 minutes, and advisors will have an opportunity to ask questions. Video recordings of this course will be available.
The Best of Impact’s Retirement Road Map
Impact’s Retirement Road Map is a retirement planning software application that contains the retirement income planning strategies you’d expect from heavy-duty cash flow modeling planning systems, but without all the hassle.
In this session, advisors learn:
- How to best use this interactive tool with prospects and clients.
- That Retirement Road Map is a tool that transforms retirement planning into retirement action.
- How to show clients that annuities and life insurance can help bolster their retirement income plan.
- Why Retirement Road Map is a natural follow-up with our Social Security Explorer software application, easily transforming the narrow Social Security planning discussion into a broader conversation about retirement income planning.
- How other advisors use Retirement Road Map in their practices.
The Best of Impact’s Retirement Road Map practice-building sessions are held every Monday at 3:30 p.m. Eastern Time.
Each session lasts 30 minutes, and advisors will have an opportunity to ask questions. Video recordings will be available.
Today we received the issue notification for patent number D688687. The patented design of Social Security Explorer resulted from intensive research by team leads Maxey Sanderson and Gretchen Smith. Their initial design was further refined during our development process and field testing. Social Security Explorer is now the easiest way to explore filing options with your clients. The attractive interactive design gives immediate feedback and makes the process enjoyable. All the complicated logic and the exhaustive calculations are reduced to a display clients actually understand and want to explore.
Currently Social Security Explorer is only available to financial professionals. We’re currently developing products designed to be used by consumers that expand on the patented design with additional interactive educational components to contribute the explanations that a professional would normally provide.
A 5 minute video tour.
The Supreme Court’s recent ruling on DOMA opens new possibilities for using PlanLab with same sex couples who are legally married and living in a state that recognizes same sex marriage. The DOMA ruling will give these couples the same Federal benefits received by traditional married couples. The benefits affected in PlanLab include Social Security spousal and survivor benefits and federal estate tax calculations.
States that recognize same-sex marriage
If your clients are married and living in a state that recognizes same sex marriage as legal, you may simply check the Married box in Detailed Analysis or PlanFacts. PlanLab will then calculate Social Security benefits as married, with survivor and spousal benefits included. Any presentation with federal estate taxes displayed will use the unlimited Marital Deduction and the Deceased Spousal Unused Exclusion Amount for the estate tax calculations. State inheritance taxes if applicable will also reflect the married status.
States that recognize civil unions or domestic partnerships
For clients living in states that recognize civil unions or domestic partnerships but not same sex marriage, federal benefits for married person will not be available. In this case do not check Married.
If your clients live in a state that does not recognize same sex marriage, do not check the Married box. Estate Tax Analysis will not be available for non-married clients; however, Estate Tax Concepts could be used for a quick calculation of potential estate taxation issues.
PlanLab presentations and effects of DOMA ruling
|Presentation||If clients are legally married in their residence state|
|Estate Tax AnalysisWealth Distribution Analysis||To illustrate as married in Detailed Analysis check Married in Household Information. Note, you cannot change back to unmarried in Detailed Analysis.Both Social Security benefits and federal estate taxes will reflect married status.|
|Quick ETA||Check Married to illustrate Federal estate tax benefits of unlimited marital deduction. Single (Married not checked) may be used to show potential problems if clients move to a state that does not recognize the marriage.Both Social Security benefits and federal estate taxes will reflect the appropriate marital status.|
|Estate Tax Concepts||Check Married to illustrate Federal estate tax benefits of unlimited marital deduction. Single (Married not checked) may be used to show potential problems if clients move to a state that does not recognize the marriage.|
|QPDAAnnuity Strategies||Check Married in household information section for Federal estate tax and IRD tax treatment for objectives that demonstrate wealth transfer.|
|Financial Needs Analysis||Check Married in household information to illustrate Spousal and Survivor Social Security benefits.|
|Life Goals||Check Married in household information to illustrate Spousal and Survivor Social Security benefits.|
|Retirement Road Map||Check Married in household information to illustrate Spousal and Survivor Social Security benefits.|