Income Tax-Bracket Inflation

OnPointe Retirement Planner provides the ability to inflate the tax-bracket on an annual basis in retirement.

It also provides advisors the ability to raise the top tax rate to 50%, 60% 70% or higher in retirement.

Click on the following video to see the math of changing the top tax rate and when using a 3% inflation factor on brackets.

OnPointe’s NEW IRMAA Penalty Calculator

Looking for a “wedge” topic to help you engage in discussions with more affluent pre- and post-retirees?  If so, IRMAA may be your ticket!

What is IRMAA? It’s the surcharge clients may pay for their Medicare Part B and Part D premiums. Those with higher MAGI can be hit with a surcharge that can be in excess of $400 a month (over $5,000 a year per person).

Most clients (and most advisors) are NOT familiar with IRMAA!  You know who knows what IRMAA is? Someone over 65 who is getting hit with the penalty. Very few others (including advisors) are familiar with it.

OnPointe Retirement Planner can now calculate if a client is projected to have an IRMAA penalty.  What is a great question to ask someone who is 55 or older… do you know if you are going to have an IRMAA penalty in retirement? The answer nearly 100% of the time will be either I don’t know what IRMAA is or I have no idea if I’ll be subject to an IRMAA penalty. Either one if an opportunity for an advisor to say…. well, I just happen to have software that will let me run your IRMAA penalty numbers. Would you like me to run those for you?

To watch a video of how the IRMAA calculator works in OnPointe, click on the following video.