When it comes to investing, I’ll Teach You to Be Rich author Ramit Sethi sees whole life insurance, annuities, and Primerica as major red flags.
David believes that, in the Netflix documentary How to Get Rich, Ramit Sethi makes sweeping insurance product condemnations with little or no evidence to support his case.
If David had a chance to sit down with Ramit Sethi, there’s a series of questions he would like to ask him, including “Why are annuities bad?”
Yale Professor Robert Schiller recently affirmed that bonds aren’t the best solution for managing risk in retirement.
While analyzing 10-year returns for stocks, bonds, and fixed index annuities, Schiller uncovered four startling truths.
For David, if you were to reach into your retirement portfolio, remove the bonds and replace them with a fixed index annuity, you would increase returns while safeguarding that portion of your portfolio against loss.
The 4% Rule says that if you have a 60-40 stock-bond mix, the most you can take from your portfolio, and maintain a high likelihood of not running out of money before you die, is 4% per year (adjusted for inflation).
If you have done a good job saving money, don’t take advice from financial gurus who are dispensing one-size-fits-all financial planning advice on Netflix.
Mentioned in this episode:
David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code
DavidMcKnight.com
DavidMcKnightBooks.com
PowerOfZero.com (free 3-part video series)
@mcknightandco on Twitter
@davidcmcknight on Instagram
David McKnight on YouTube
Get David's Tax-free Tool Kit at taxfreetoolkit.com
I’ll Teach You to Be Rich (book)
How to Get Rich (Netflix series)
Dave Ramsey
Suze Orman
Prof. Robert Shiller
Dr. Roger Ibbotson
Yale University
The Fatal Flaw in Suze Orman and Dave Ramsey's Retirement Planning Advice
Here’s What Happens When You Put 30% of Your Retirement Savings into Cash Value Life Insurance
What Dave Ramsey DOESN’T Want You to Know About Indexed Universal Life
First Glimpse at Your Tax Bracket in 2026 (And What It Will Cost You)
How Gen Z Should Save for Retirement
Why Ken Fisher Does NOT Want You to Do a Roth Conversion
How Much of Your Social Security is REALLY Getting Taxed? (and At What Rate?)
Why Don't More Financial Advisors Recommend Indexed Universal Life?
Your Roth Conversion Roadmap for the Next 10 Years and Beyond
Clark Howard Says Fixed Indexed Annuities Stink! (My Response)
Is IUL the Dream Investment that Doug Andrew Claims?
The Two 5-Year Roth Rules Explained
Warren Buffet Says AVOID Financial Advisors Like the Plague (Is He Right?)
George Kamel Swings and Misses on Indexed Universal Life
Is Ken Fisher's Anti-Annuity Stance Illegal?
Suze Orman vs. Dave Ramsey on Sustainable Withdrawal Rates in Retirement
Is a 100% Tax-Free Retirement Really Possible?
A Recent Penn Wharton Study Says that the U.S. has 20 Years to Fix Debt or Face Cataclysm
How to Figure Out How Much Money to Save for Retirement
The Best Way to Make Sure Your Money Lasts as Long as You Do
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