How Do I Do a Roth Conversion and Which Forms Will I Need?
This episode answers the question, “How do I do a Roth conversion, and what forms do I need to fill out with the IRS?” David explains that there are three basic steps to convert your IRA to a Roth IRA. Carrying out these three steps will likely…
Eight IUL Deal-breakers You Should Watch Out For
This episode is part of David McKnight’s interview with Mark Byelich, founder and owner of Attleboro Wealth Management. David and Mark discuss why the money inside a Life Insurance Retirement Plan (LIRP) “bucket” is treated differently for tax…
Crafting a Tax-Free Retirement: More Than Just a Dream
The following content is partially adapted from the book Tax-Free Income for Life by David McKnight. Crafting a tax-free retirement can be more than just a dream; it can be a strategic approach to safeguarding your financial future. By utilizing specific investment vehicles and planning techniques, you can help combat the uncertainties of future tax rate increases and Social Security taxation, allowing for a more stable and enjoyable retirement. In this article, we’ll discuss one such strategy to help you align your tax-free stars, especially if you have a fixed indexed annuity, which I previously wrote about here. To […]
Updated Rules on Missed RMDs
This episode looks at the recent IRS updates on the required minimum distributions due for 2024 and 2025. David touches upon which accounts are and which aren’t subject to RMDs. Historically, when someone missed their RMD, they had to pay a…
4 Ways to Build Tax-Free Wealth for High-Income Earners
Today’s episode addresses how to create multiple tax-free income streams that don’t show up on the IRS’s radar and that contribute to you being in the 0% tax bracket in retirement. Having some money in a tax-deferred account, like an IRA or…