How Roth IRAs and Life Insurance Can COMPLETELY SHIELD You and Your Heirs From a Doubling of Tax Rates
The national debt is fast approaching $32 trillion dollars, nearly double from only a few short years ago. Neither parties are blame-free for the situation we find ourselves in as of 2023. That $32 trillion does not include the unfunded liabilities…
Why the Roth IRA Is NOT Enough (Graham Stephan Is Wrong!)
There are a number of popular finance YouTube personalities like Graham Stephan talking about how you can be a millionaire by simply contributing $18 a day into a Roth IRA, but that doesn’t tell the whole story. Not only is that advice too simple,…
Strategic Tax-Free Retirement Income: A Case Study Part II
This is the second installment of a tax-free retirement income case study that has been adapted from the book Tax-Free Income for Life by David McKnight. It references The Power of Zero, also by David McKnight. Most of the articles you’ll read here on this blog cover one or more aspects of a comprehensive approach to tax-free retirement income. In my last article, I introduced a case study featuring hypothetical couple Mike and Julie Smith in order to illustrate what it looks like when you put all the pieces of the puzzle together. In this second installment, I’ll pick […]
How to Implement the Power of Zero Retirement Strategy
Step one of the Power of Zero strategy is to realize that due to unfunded obligations for Social Security, Medicare, and Medicaid and interest on the exploding national debt, tax rates in the future are going to be dramatically higher than they are…
Begin Estate Planning by Asking Yourself These Three Questions
Develop a Comprehensive Strategy to Help You Manage Your Financial Wishes It can be uncomfortable to contemplate the end of life, but developing a thoughtfully crafted estate plan is crucial. By creating a comprehensive estate plan, you retain control over important decisions such as guardianship for your children and asset management. To ensure your loved ones are taken care of and leave a lasting impact, various aspects should be considered in your estate plan. As you reflect on the legacy you wish to leave, three key questions can help assess your family dynamics and values, and we’ll explore each […]
10 Tips to Avoid Boredom in Retirement
How to Create Joy and Meaning in This Phase of Life Are you imagining retirement as a time of freedom and relaxation? Of course, you are! You have put in a lot of effort over the years. However, many retirees find themselves bored or lonely, meaning it may be time to reimagine retirement with a bit of a fresh perspective. According to the Center for Retirement Research in Boston, the average retirement lasts about twenty years. Instead of merely embracing relaxation, retirees are seeking a more fulfilling experience. It’s about utilizing the extra time to engage in meaningful pursuits […]
The Case for Contributing 30% of Your Retirement Savings to an LIRP
Your LIRP functions as the ideal volatility buffer because it grows safely and productively in a tax-free way. According to a recent study by Ernst & Young, investors that contribute 30% of their retirement savings to a LIRP will have their…