The Power Of Zero Show

By: David McKnight
  • Summary

  • Tax rates 10 years from now are likely to be much higher than they are today. Is your retirement plan ready? Learn how to avoid the coming tax freight train and maximize your retirement dollars.
    The Power Of Zero
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Episodes
  • The Top 6 Reasons to Do a Roth Conversion
    Nov 6 2024

    Today’s episode looks at the top 6 reasons why doing a Roth conversion may be the right move for you.

    The disastrous fiscal condition of the U.S. is the first reason why you should consider doing a Roth conversion.

    David explains why debt in and of itself isn’t the issue – and what the real problem with it is.

    Doing a Roth conversion with today’s low tax rates can be a way for you to shield your retirement savings from the impact of higher taxes down the road.

    Not sure what tax rates could double in your lifetime? There’s still a possible scenario in which your tax bracket could double.

    David touches upon the “widow penalty”, the tax bracket compression, and what the IRS tracks to determine whether they’re going to tax your social security.

    The so-called IRMA and the lack of required minimum distributions are two additional reasons to consider doing a Roth conversion.

    Mentioned in this episode:

    David’s upcoming book: The Guru Gap: How America’s Financial Gurus Are Leading You Astray, and How to Get Back on Track

    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

    Penn Wharton

    Comeback America: Turning the Country Around and Restoring Fiscal Responsibility by David M. Walker

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    7 mins
  • Understanding the Tricky Roth 401(k) Distribution Rules
    Oct 30 2024

    David McKnight explains how a lack of knowledge about Roth 401(k) distribution rules can lead to unexpected taxes and penalties.

    This episode dives into practical insights to help you steer clear of unwelcome surprises from the IRS.

    David illustrates what happens if you withdraw from your Roth 401(k) before age 59½, and how these rules differ from those of a traditional Roth IRA.

    He subsequently tackles the question of when post-59½ withdrawals of Roth 401(k) growth can be completely tax-free.

    Roth 401(k) distributions can be confusing – especially if you’re planning to take funds before age 59½. And there’s an alternative you should consider.

    Planning to use your Roth 401(k) as an emergency fund? “Think again!,” says David. He goes over why this may not be the best choice (and what to do instead).

    Mentioned in this episode:

    David’s upcoming book: The Guru Gap: How America’s Financial Gurus Are Leading You Astray, and How to Get Back on Track

    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

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    5 mins
  • Is Dave Ramsey STILL Wrong on Roth Conversions?
    Oct 23 2024

    In the past, David McKnight has been critical of gurus like Dave Ramsey. However, this episode looks at a video in which Ramsey seems to have slightly changed his views.

    Ramsey emphasizes that one key benefit of a Roth IRA is the potential to drastically reduce or even eliminate Required Minimum Distributions (RMDs).

    David explains that the decision to pursue a Roth conversion typically depends on whether you expect your future tax rate to be higher than it is today.

    David discusses a missed opportunity in Ramsey's advice to a caller, highlighting a critical point Ramsey seems to have overlooked.

    While David acknowledges a solid point made by Ramsey, he also identifies what he describes as "a huge blind spot in Ramsey’s worldview."

    David highlights a "right move" by Ramsey – whether it’s a deliberate policy shift or Ramsey unintentionally cornering himself remains to be seen…

    David praises Ramsey’s advocacy for Roth accounts, a sentiment he wholeheartedly agrees with.

    Mentioned in this episode:

    David’s upcoming book: The Guru Gap: How America’s Financial Gurus Are Leading You Astray, and How to Get Back on Track

    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

    Dave Ramsey

    David M. Walker

    Ed Slott

    Tom Hegna

    Dr. Laurence Kotlikoff

    Brian Bolan

    Wade Pfau

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    11 mins

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Excellent!

Thank you so much for making this podcast available to listen to on Audible.

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Clear communication amd knowledge

David speaks clearly and is very helpful and entertaining. Small facts and helpful hints on retirement planning.

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