Recycle My Debt (RMD) is a scaled down version of Prospera and an excellent entry-level product to strategic financial planning. As with Prospera, it enables advisers to model detailed cashflow forecasts throughout the clients’ working lives and into retirement.
Clients suitable for RMD modelling will typically be aged 30-55 and have:
Clients that implement an effective RMD strategy create wealth by recycling debt from a private line of credit (including mortgage) to an investment line of credit. In doing so they take advantage of the income and capital returns on their investments and the favourable tax treatment of investment line of credit interest payments.
Over time, an RMD strategy creates wealth and improves retirement lifestyle, without impacting the client’s current standard of living.
Note: Prospera and RMD are based on the same software platform. Prospera users have RMD functionality included.
RMD users can upgrade to Prospera and retain all of the models and reports created in RMD.