Lincoln Financial Group has launched the Roth Conversion Analyzer, a tool designed to help clients and their advisors make better informed decisions about the benefits of converting eligible retirement assets to a Roth IRA.
The company said that beginning in 2010, all taxpayers are eligible to convert all or a portion of their traditional IRAs and other eligible retirement assets to Roth IRAs. Roth IRAs allow for tax-free growth and withdrawals and are not subject to required minimum distributions during account owner’s lifetime.
According to company, while considering a Roth IRA conversion investors should run the numbers based on circumstances, earmark funds to pay conversion taxes as needed, take the tax-free aspects of a Roth IRA into account when developing asset allocation and retirement income strategy, consider impact of Roth IRA conversion on estate and collaborate with investment advisor and tax professional.
Heather Dzielak, chief marketing officer of Lincoln Financial Group, said: “One of our top priorities at Lincoln Financial Group is to truly understand the financial challenges consumers are faced with in retirement and provide advice and solutions they need to face the future with confidence.
“This empowers us to develop initiatives and solutions that will provide cutting-edge consumer insights that will lead to better-informed planning decisions.”