Torrid Technologies’ Sensational Next Act

Remember Retirement Savings Planner? It's been featured in The Investment Edge twice. It is the original color-coded, down-and-dirty (and fast!) financial planning software, showing customers nearly instant what-if scenarios. I've been a fan since RSP first appeared. The software has been featured in Money, Barron 's and the Wall Street Journal, among numerous other periodicals.

Torrid Technologies, the maker of RSP, has done it again. It now offers a web-based subscription to WebCalcs. WebCalcs gives the financial professional access to commonly needed tools, including these:

The cost of waiting is, of course, the added expense later to avoid doing something today. Image Ï shows you how it works.

The 72T calculator is tabbed 72T/Q, however I think Torrid is actually finalizing work on Q. Presently, T provides a great illustration. It's pretty dam nice to be able to do your own calculations without telephoning some advanced marketing office in South Oblivion, Iowa. Image 2 shows a 72T that displays all three options.

There are another four types of distributions, including a stretch distribution. Here, in image 5, is a sample of a Required Minimum Distribution (RMD) for a husband and wife.

Torrid uses a customer hub arrangement, so, when you use a password reminder (I use LastPass and like it very much), getting into WebCalcs is seamless. I simply hit the drop-down box, select the WebCalcs site and - presto! I'm there. It takes virtually zero time to input a scenario. It's the Torrid way, like Retirement Savings Planner - jazzy, easy-to-understand graphics that display fester tìian a speeding bullet. While there are other calculators out mere, WebCalcs gives the producer immediate access to what are arguably his or her most-needed tools. And it does so at the nominal cost of about $47 monthly. (You can save a few bucks by paying annually.) Would you rather have a superb calculation tool that is backed by a quality company, or use some so-so (and probably inaccurate) Internet freebie?

WebCalcs offers 10 calculators now. Others will be added, and, whether there are 10 or 20, the price should stay about the same. These are verified calculation tools vetted and approved by top companies. The mantra at Torrid Technologies is to provide more value for the same dollar. As one who has used and tested Retirement Savings Planner for years, I can attest that the statement is absolutely correct.

While WebCalcs does future values and even a paycheck analyzer, I thought it would be timely to show you a Roth conversion IRA illustration; see images 4a, 4b, 4c.

If you want fast, easy, dynamic (and correct!) illustrations, check WebCalcs out at www.webcalcsforadvisors.com.

Cost of Waiting Calculator to show the cost ot waiting to start saving to your retirement account. Delay 5 or 10 years and the results are dramatic.

Distributions -72t/q Pre-591/i Distributions [IRC 72(t/q)]: Substantially Equal Periodic Payments that avoid the 10% IRA penalty for early withdrawals. If you have clients laid off in their early 50s who need to tap their 401 |k)s. this is how to do it without getting penalized.

Distributions - RMD - Owner Only Required Minimum Distributions [age 70Va and up]: Owner Only

Distributions - RMD - Owner & Spouse Required Minimum Distributions [age 70'/2 and up]: Owner and then a Spousal Rollover

Distributions - Qualified Stretch Stretch the Required Minimum Distributions lmultigenerational): Owner, Spouse, + Contingent Benes for qualified accounts like 40Kk], 403[b] and IRAs.

Distributions - Non-Qualified Stretch Stretch the Required Minimum Distributions [multigenerational]: Owner, Spouse. + Contingent Benes for non-qualified accounts.

Retirement Savings - Future Value Calculator projecting growth of retirement savings to estimate nest egg at retirement age.

Paycheck Analyzer Calculator to analyze take-home pay based on retirement contribution and value of tax-deferred savings.

Risk-Tolerance Profile Calculator to determine client's risk tolerance with respect to investing.

Roth Conversion This tool is designed to help determine the impact of converting some or all of a Traditional IRA to a Roth IRA.

WebCalcs® Software Copyright ©1995-2010. Torrid Technologies Inc. All Rights Reserved.

"It's the Torrid way, like Retirement Savings Planner - jazzy, easyto-understand graphics that display faster than a speeding bullet."

This information is intended for financial professionals only, not the general public. This is not a solicitation to buy or sell any specific security. Richard Hoe may have positions in the securities or other investments discussed. Evaluation copies of software and review copies of books are sometimes furnished by publishers without charge; however Mr. Hoe only reviews books and programs he feels will be of value to LIS readers and avoids writing about books and programs he feels would be of little interest.

By Richard Hoe , ChFC, CLU, AEP

Richard Hoe , ChFC, CLU, AEP. has been an investment professional for 40 years and is a registered representative and investment advisor representative. He is a member of the adjunct faculty at the California Institute of Finance, a graduate school at California Lutheran University. Readers may e-mail Richard Hoe at richardhoefarichardhoe.com.