Avoiding the Greatest Retirement Risks: Part One
My mission as a financial advisor is to help each client build a retirement strategy that’s designed to navigate key financial risks. Many people face the very real possibility of running out of money later in life, often due to factors they didn’t anticipate. That’s why I’ve focused my practice on tax-efficient retirement planning, guided by the principles of David McKnight, author of The Power of Zero and a leading voice in tax-free income strategies. His approach has shaped how I help clients prepare for the future with clarity and purpose. Below, I’m sharing a brief passage from David
The Roth Conversion Roadmap: Reducing Future Tax Burdens in Retirement
Planning for retirement involves not only saving but also strategically managing your tax burden. One approach to consider is the Roth conversion strategy, which allows you to convert tax-deferred retirement accounts, like traditional IRAs or 401(k)s, into tax-free Roth IRAs. At Hanson Wealth Management, we assist clients in understanding the potential benefits of Roth conversions in relation to their individual financial circumstances. This article dives into the Roth Conversion Roadmap, addressing the key considerations, challenges, and strategies for reducing future tax burdens while maintaining financial flexibility during the transition period. What Is a Roth Conversion? A Roth conversion involves […]
Understanding the Power of Zero Concept for Wealth Management in 2025
As tax laws evolve and retirement planning becomes more complex, adopting tax-efficient strategies can help preserve more of your wealth for the future. One approach that I share with clients frequently is the “Power of Zero” concept. This strategy focuses on reducing taxable income during retirement by utilizing tax-advantaged accounts and strategic income planning. At Hanson Wealth Management, we assist clients in understanding and implementing this framework within their broader financial plans. What Is the Power of Zero Concept? The Power of Zero is a financial planning approach that emphasizes reducing or eliminating taxable income during retirement. This strategy […]
Surviving Financial Storms: The Volatility Shield for Your Retirement
Retirement planning is a key part of building a secure future, but it isn’t without its challenges. One of the most pressing concerns for retirees is managing the impact of market volatility. The ups and downs of the stock market can significantly affect retirement savings and income, creating uncertainty for those who are unprepared. David McKnight, author of The Power of Zero, outlines strategies designed to address this challenge, focusing on creating a more resilient retirement plan. Let’s dig into this topic now. The Impact of Market Volatility on Retirement Market volatility refers to fluctuations in the prices of investments […]
LIRP: The Retirement Planning Tool You Haven’t Heard Of
Life Insurance Retirement Plans (LIRPs) are emerging as a valuable yet lesser-known tool in the retirement planning landscape. LIRPs, which combine life insurance coverage with the potential for tax-advantaged growth, can be a consideration for addressing income needs in retirement and legacy planning goals. Unlike traditional retirement accounts, which can come with contribution limits and required minimum distributions, LIRPs provide flexibility and a strategic approach to both savings and protection. In this guide, we’ll dive into the essentials of LIRPs, explore how they function, and highlight key factors to consider when deciding if this approach aligns with your financial […]
The Ultimate Guide to a Zero-Tax Retirement Lifestyle
If you read my blog often, you know that I believe retirement should be a time of relaxation and enjoyment, free from financial stress. However, you also likely know that one of the biggest challenges in retirement is the burden of taxes. I share frequently about David McKnight’s powerful, game-changing Power of Zero philosophy, and I often share excerpts from his books, too. Today, I want to start back at the beginning – for any new readers or for anyone needing a refresher – on these foundational Power of Zero strategies designed to help you minimize tax liabilities and […]
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 […]
Creating a Volatility-Proof Retirement Plan
Retirement planning is an essential part of preparing for a stable and comfortable future, but it comes with its fair share of challenges. One of the most significant challenges retirees face is market volatility. The ups and downs of the stock market can have a profound impact on retirement savings and income, potentially jeopardizing the financial stability of those who are unprepared. David McKnight, author of “The Power of Zero,” offers insightful strategies for creating a volatility-proof retirement plan. This article delves into his approaches for a volatility-proof retirement plan and provides actionable steps to help you build a […]
Why a LIRP Might Be Your Retirement Game Changer
Planning for retirement involves exploring various financial products and strategies to build a sustainable income stream you can rely on. One such option gaining popularity is the Life Insurance Retirement Plan (LIRP), which I have mentioned in previous articles. While it might sound unconventional to some, a LIRP can offer unique benefits that could make it a valuable component of your retirement strategy. In this article, we will review the basics you need to know about Life Insurance Retirement Plans and also discuss LIRP advantages you might consider as you devise your retirement income strategy. What is a LIRP? […]
The Hidden Benefits of Zero Tax Retirement
At Hanson Wealth Management, we strive to empower our clients to enjoy their life with significance and purpose through a comprehensive strategic planning process centered on their unique goals and the roadmap needed to achieve them. Our approach includes lowering your tax burden and optimizing your income streams with the objective of achieving tax-free retirement – so that you can truly live your best life. We subscribe to David McKnight’s “Power of Zero” philosophy, which emphasizes the strategic advantages of positioning oneself in the 0% tax bracket in retirement. This strategy focuses on reducing future tax liabilities on retirement […]
