Today’s video is from David’s conversation with financial advisor Bruce Hosler.
They discuss why financial advisors like Ken Fisher don't want you to do Roth conversions.
David reveals why there is a lot of incoming resistance from financial "Gurus" about moving to tax-free and using the tools necessary to get to the 0% tax bracket.
David talks about his new book, Guru, and all of the interference he’s facing in trying to get the Power of Zero message out to the American people.
Most of these gurus believe that tax rates in the future are likely to be higher than they are today. But when you go to their websites, there are no practical strategies on exactly how you should arrange your assets to best shield yourself from the impact of higher taxes.
David highlights why Dave Ramsey is against any form of permanent life insurance. He even has a famous quote, “Permanent life insurance is 100 % crap, 100 % of the time.”
If you can fund your lifestyle out of your cash value life insurance in the year following a down year in the stock market, it gives your stock market portfolio a chance to recover before you take further distributions.
David explains how this act alone can increase the sustainable withdrawal rate on your stock portfolio from 4 % to 8%.
David and Bruce agree that people need to find ways to create multiple streams of tax-free income from multiple sources.
David reveals that conflict of interest is what prevents fee-based advisors from promoting the power of zero message.
David and Bruce talk about the unfunded obligation for Social Security, Medicare, and Medicaid--and the amount of money the government needs to have to pay for Medicare over the next 75 years.
Financial advisors are not educated enough about the reality of future higher tax rates. If they were, David believes they would be more familiar with the ways to mitigate against rising taxes down the road.
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
Will There Be a Great Depression in 2030?
A Massive Increase to 401(k) Contribution Limits and Other IRS Thresholds
Should You Convert Your IRA While the Market Is Down?
Should the Federal Government Get Rid of the Roth IRA?
The Truth about Suze Orman
How to Supercharge Your Roth Conversion with a Reverse Mortgage
Is the Federal Government Going to Tax Your Roth IRA?
How to Take Money Out of Your 401(k) or IRA 100% Tax-Free
"Financial Advisors Are a Rip-off!"
Hastening the Debt Apocalypse – Student Loan Forgiveness
The Truth About Ken Fisher (Are Annuities Bad?)
When Should You Use an LIRP?
Did Joe Biden Just Solve the National Debt Crisis?
The Inflation Reduction Act of 2022--Will It Raise Your Taxes?
Whole Life vs. Indexed Universal Life and More…
How to Mitigate Long-term Care Risk…Without the Heartburn
Can You Retire on Life Insurance Alone?
The Bombshell in the 2022 Social Security Trustees Report
The Anatomy of a Debt Apocalypse
The Five Things Your LIRP Must Have
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast