Strategic planning for widowed retirees' financial security.
Eleanor, a 68-year-old widow, inherited a $1.8 million Traditional IRA and has $450,000 in taxable accounts. She needs a consistent income stream to maintain her lifestyle while also wanting to preserve assets for her children. Her primary concern is navigating the complexities of RMDs (Required Minimum Distributions) and minimizing the estate tax burden on her heirs.
By utilizing the Accrual Ratio Calculator, the advisor can analyze Eleanor's existing investments and determine the optimal asset allocation to meet her income needs and growth objectives. This allowed the advisor to project future income, including RMDs, and model the impact of various withdrawal strategies. By shifting $300,000 of the IRA into investments with a higher accrual ratio, combined with strategic Roth conversions, the advisor was able to increase her projected annual income by $15,000 while reducing the projected estate tax liability.
The Accrual Ratio Calculator allowed for a detailed analysis of the growth rates of various asset classes within Eleanor's portfolio. This data, combined with projections from the Tax Equivalent Yield Calculator, informed the Roth conversion strategy.
$85,000 increase in projected inheritance for her children through tax-efficient strategies.
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