MINNEAPOLIS, Feb. 16, 2023 (GLOBE NEWSWIRE) -- TruChoice Financial Group, LLC (TruChoice), one of the largest distributors of insurance products in the financial services industry, is augmenting its lineup of technology tools that can help financial professionals and their clients to be better prepared when developing retirement income strategies.

The two new calculators focus on evaluating ongoing income flows and addressing withdrawal rate risk. The Internal Rate of Return calculator looks at income generated over time and calculates an equivalent rate of return that would be needed to generate the same cash flow, potentially through the use of fixed index annuities. The Withdrawal Rate Calculator provides a snapshot of a retirement portfolio highlighting the guaranteed and non-guaranteed sources of income, combining both values to generate the withdrawal rate necessary to achieve your retirement goal. 

"Knowing the internal rate of return allows financial professionals to better evaluate different products and income options to build strategies better suited to help meet their clients' retirement goals," said TruChoice Vice President of Advanced Strategies, Brian Kunkel. "TruChoice's Internal Rate of Return calculator can help financial professionals evaluate a client's existing annuity or assist in the selection of one of the many annuities offered in today's marketplace. And the Withdrawal Rate Calculator is a great tool for evaluating the withdrawal rate for clients. We're committed to providing useful tools for financial professionals, and these two diagnostic calculators are powerful additions to our current offerings."

The new calculators join TruChoice's four existing calculators that help illustrate the impact of sequence of returns on a retirement portfolio using specific time frames and markets, evaluate how much retirement savings may be needed to meet income goals (relative income value), show the cost of liquidity in a portfolio due to inflation, and illustrate longevity by showing the life expectancy of individuals and couples given specific age parameters.

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