The Software that Tells the Whole Truth about All Things Financial

Truth Tips

Truth Tip, Qualified Plan

To get spread sheet detail, turn on “term ins. and emp. cost” button. (This works whether or not you have term insurance or employee costs that you wish to add.) Close anytime (top left corner of spreadsheet) and to view again, click button again and then “inputs.”… Continue Reading

Truth Tip, Tax Chart

In the upper middle of the Income Tax Chart is the “Federal Income Tax / Gross Income %”  Since this is mathematically correct but not technically accurate, you can click on it to hide. The reason it is not technically accurate is that our income tax does not change up or down based on averages but instead on last dollar earned or marginal rates.  … Continue Reading

Truth Tip, Amortization Schedule

For an Amortization Schedule on the Loan Analysis Calculator, you can switch the “Period Number” to “Start Date” by clicking on it and then your amortization schedule will have payments dates on it which you can adjust based on when you want the first payment to be.… Continue Reading

Truth Tip, Loan Analysis

On the Loan Analysis Calculator, if you want to show skipping a payment on the loan payback, go the the middle and click the “compare” button, then you skip payments or change them on the blue lines.  … Continue Reading

Truth Tip on Borrowing Calculator

On the Borrowing Calculator, just left of the first loan, there is a blank white space where you can place your mouse and it will switch to a hand.  If you click on this, you’ll see the IRR on the entire deal you are looking at on that calculator.… Continue Reading

Life Expectancy

The Life Expectancy tables in the Truth Concepts Calulators “Tools” section show the AVERAGE number of years a particular person will live.  You can choose the age, male/female, standard/preferred, smoker/non-smoker and joint/single.  Then remember that the number of years you see in the L.E. column is an average.  For example, when a 35 year old m… Continue Reading

Truth Tip, All Calculators

When in Financial Calculators, Double Click on the word of the second calculator you want and it will come up.   For example, if you have the Rate Calculator up and now you want Future Value, just click on “Future” inside of the Rate Caclulator and you’ll get the Future Value Calculator.… Continue Reading

Truth Tip, Additional Income Definition

Additional Income Definition:  “Net after taxes but before qualified plan deduction”.  For example, if someone is earning $150,000 they have $30,000 of mortgage interest deductions and $10,000 of charitable deductions, then Additional Income is $110,000 for the Qualified Plan Calculator and if they are putting $15,000 into their QP, then Additional Inco… Continue Reading

Truth Tip, Screen Space

Want to increase your productivity by 30%? Purchase a second monitor so you can use two screens with your computer.  You’ll want to have a video card for a lap top or a USB to VGA adapter…then select properties and “extend windows” onto that second screen so you can run your illustration software on one screen and the Truth Concepts calculat… Continue Reading

Truth Tip, Life Insurance Values Tool

When importing the values from the tool to the Internal ROR calculator, take note that the IRR calculator AUTOMATICALLY adjusts the number of years for the illustration period.  This is because the values in the IRR calculator are all beginning of year and the values on the illustration are all end of year. For example, you’ll see in your Life Insurance Values a table… Continue Reading

Truth Tip, Borrowing Strategy Calculator

The descriptions of the 4 “loan/withdrawal” source drop downs are as follows: ACT CASH: removing money from the account via withdrawl ACT LOAN:  borrowing against the account itself ALT LOAN:  borrowing against another asset outside of the account MKT LOAN:  borrowing from the market place, home equity, car dealership etc… Continue Reading

Truth Tip, Distribution

When working with the Distribution Calculator, once you’ve pushed either the “Interest Only” or “PayDown” button, it turns blue (meaning it is on) and puts the correct withdrawal amount in the withdrawal field.  Then, if you make a change to the Earnings Rate, Illustration Period, or Present Value, it will automatically … Continue Reading

Truth Tip on Diversification

In order to replace the Annual Earnings Rate column with the Market History, click the Earnings Rate button on the top left first, then copy and paste the Market History into the Annual Earnings Rate column.  Remember to cut off the term premiums by filling in the Year to Cancel that comes up in the middle of the page after you’ve put in your Term Insurance DB.… Continue Reading

Truth Tip on Distribution Calculator

When running a 41 year analysis, say from 65 to 105, yet you want a paydown for only 20 years, se the illustration period to 20, click the paydown button, then click it again (turns it off) then change your illustration period to 40 so you can see the 20 year paydown.  Then, in the Other Net Income section you could add Reverse Mortgage Income or Dividend Income from age 86 to 1… Continue Reading

How can I get an amortization schedule?

How can I get an amortization schedule?  We’ll use the Loan Analysis calculator in the www.truthconcepts.com software to print a 48 month amortization schedule for a $35,000 loan to be paid back at 6.5%.  The picture below only shows until month 24, but the rest is there below in the actual software when you click the scroll bar. Next, we’ll select the from the AlternContinue Reading

Truth Tip Definition of Additional Income

Definition of “Additional Income” is “net after taxes but before qualified plan deduction”. For example, if someone is earning $150,000 they have $30,000 of mortgage interest deductions and $10,000 of charitable deductions, then Additional Income is $110,000 for the Qualified Plan Calculator and if they are putting $15,000 into their… Continue Reading

Truth Tip Qualified Plan

The Truth Concepts Qualified Plan calculator gives a graphic overview of the whole truth about qualified plans.  It shows clients why not maxing out their qualified plan may be the best strategy. In this calculator the Rate of Return box on top right toggles On and Off.  … Continue Reading

Truth Tip Accumulation

The Accumulation Calculator shows the effectiveness of money growing (taxable, tax deferred, tax deductible and/or tax free) and it has multiple variable payment and withdrawal columns, the ability to vary the earnings rate, and to add term insurance and  other costs.  In this calculator you can create an exact copy of existing information currently in the cal… Continue Reading