Lifetime Planner IDEA: Add Roth Conversion Modeling in LTP

System
System Member admin
This discussion was created from comments split from: Lifetime Planner IDEA: Improve how ROTH IRAs are Displayed and Modelled in LTP.


Lifetime Planner IDEA:  Add Roth Conversion Modeling in LTP

pdq said:

Also, Roth conversions should be modeled in LTP what-if/scenarios, not just contributions. Roth conversions also affect taxable income and, thus, tax rate. It is an important annual decision for retirees with traditional IRA's to consider. Done well, this would be an ideal area for LTP to add real value to retiree decisions.

11
11 votes

New · Last Updated

Comments

  • pdq
    pdq Member ✭✭
    Also, Roth conversions should be modeled in LTP what-if/scenarios, not just contributions. Roth conversions also affect taxable income and, thus, tax rate. It is an important annual decision for retirees with traditional IRA's to consider. Done well, this would be an ideal area for LTP to add real value to retiree decisions.
  • Scooterlam
    Scooterlam SuperUser, Windows Beta Beta
    @pdq I asked a moderator to break-out your Roth Conversion suggestion into its own IDEA post so that this important feature doesn't get lost.   For sure, improvements to ROTH handling in LTP (prior idea)  will make this ROTH conversion idea even better.

    Please be sure to vote.
  • pdq
    pdq Member ✭✭
    @Scooterlam Thank you!
  • joesdeli
    joesdeli Member
    Modeling Roth Conversions would be a great feature!

    Also the ability to specify the order of withdrawals verses the "normal" order (taxable, tax deferred then tax free). By having the ability to adjust the order, amount and source of withdrawals will provide the ability to be as tax efficient as possible.
  • Scooterlam
    Scooterlam SuperUser, Windows Beta Beta
    edited October 29
    @joesdeli Be sure to vote for this idea, if you haven't already done so. 

    Also, there is a broader list of Lifetime Planner ideas and bugs reported here: https://community.quicken.com/discussion/7713110/lifetime-planner-bug-and-idea-list-make-yourself-heard/p1   

    Be sure to have a look and vote for the ideas you like.   

    You mention order of withdrawals,  I have a more in-depth IDEA posted HERE. :)