The Difference Between a Social Security Tax and a Penalty (And How to Avoid Them Both)
David starts the conversation by describing the difference between a Social Security tax and a Social Security penalty – and whether it’s possible to avoid them both. David explains that although some people use them interchangeably, a Social Security…
Three Claims Pro-IUL TikTokkers Make About IUL (And Why They’re Wrong)
David debunks the top 3 unsubstantiated claims that pro-life insurance agents on social media make about IULs. David starts the conversation by explaining why we need to be clear on what an IUL is and what it’s not. David is a big fan of IULs because…
How to Transform a $1 Million Inheritance into a Tax-Free Juggernaut
David goes through five unique strategies to transform a $1 million inheritance into a tax-free asset. Although a non-qualified inheritance is tax-free, the step-up in the basis rule will lead to a huge tax problem as your asset grows over time….
Indexed Universal Life is Too Expensive! (Dave Ramsey Debunked)
Dave Ramsey and other financial gurus claim that indexed universal life insurance(IUL) is expensive and a ripoff. Are they right? Suzie Orman even says you should never work with an advisor that recommends IULs as a possible investment…
Dave McKnight versus Chris Kirkpatrick (Debunking Anti-IUL Claims)
What are some of the most outrageous anti-IUL claims on the internet today? David debunks some shockingly misleading claims presented by social media influencer Chris Kirkpatrick. Claim #1: Indexed universal life insurance (IULs) were born from…
Dave Ramsey vs Indexed Universal Life–5 Claims Debunked
What are Dave Ramsey’s thoughts on Indexed Universal Life Insurance (IUL)? David debunks the 5 myths presented in Dave Ramsey’s article on why you should run away from IULs. Myth #1: IULs never perform to their full capacity because the cash portion…
Is Artificial Intelligence the Future of Retirement Planning? (I put ChatGPT to the Test)
What is ChatGPT? David starts the conversation by explaining what ChatGPT is and the things that make it so revolutionary. ChatGPT is so advanced it has Google worried about its search engine’s future. Will the advanced AI chatbot ever replace…
The 12 Rules of Tax-Free Investing (Updated and Revised)
Rule #1: Tax rates will go up by 2030. The Fed needs huge sums of money to pay for unfunded obligations, so taxes will have to go up; otherwise, the country will go bankrupt. Rule #2: In a rising tax environment, there is a mathematically perfect…
Which LIRP is Best For You?
David kicks off the conversation by laying out the 3 basic Life Insurance Retirement Plans (LIRP) and how you can find the best one for your particular situation. For David, an LIRP is like marriage – it’s a long-term commitment that you only ever…
The Roth Conversion Mistake That Could Sink Your Retirement
David kicks off the conversation by revealing that tax rates will revert to where they were in 2017 – you have only four years to take advantage of the historically low tax rates and do a Roth conversion. David explains that most people will try…