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On today’s show we will continue our discussion with David McKnight the author of The Power of Zero and the book, Look Before You LIRP. The Power of Zero has sold 185,000 copies and recently was made into a full-length documentary film. As president of David McKnight & Company, he mentors hundreds of financial advisors around the country who specialize in the Power of Zero retirement approach. David has been featured in scores of national publications and radio programs including The New York Times, Fox Business Network, Bloomberg Radio, and MarketWatch just to name a few. If you missed the first podcast of this topic, we invite you to go back and access it through our website.
During this episode you’ll hear:
- Recap of the 3 different tax buckets: taxable, tax-deferred, and tax-free
- Assets make up the tax-deferred bucket
- Why the majority of Americans have their assets in the tax-deferred bucket
- David’s recommendations for the optimum amount that should be included in the tax-deferred bucket
- What vehicles would be classified as tax-free
- Why so many Americans find themselves with perhaps the lowest percentage of their assets in the tax-free category
- How cash value life insurance falls into the tax-free bucket and how it works
- David’s recommendations to get started in creating a plan to move assets from the first two buckets to the tax-free bucket
Jonathan Krueger is an Investment Advisor Representative with LionsGate Advisors, a Registered Investment Adviser with Lion Street Advisors, LLC a member FINRA/SIPC. Opinions expressed on this program do not necessarily reflect those of Lion Street Advisors, LLC. The topics discussed, and opinions given are not intended to address the specific needs of any listener. LionsGate Advisors does not offer legal or tax advice; listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance.
David McKnight graduated from Brigham Young University with Honors in 1997. Over the past 20 years David has helped put thousands of Americans on the road to the zero percent tax bracket. He has made frequent appearances in Forbes, USA Today, New York Times, Fox Business, CBS Radio, Bloomberg Radio, Huffington Post, Reuters, CNBC, Yahoo Finance, Nasdaq.com, Investor’s Business Daily, MarketWatch and numerous other national publications. His bestselling book The Power of Zero has sold over 140,000 copies and the updated and revised version was published by Penguin Random House. When it was launched in September of 2018, it finished the week as the #2 most-sold business book in the world. This book was recently made into a full-length documentary film, also entitled The Power of Zero. As the President of David McKnight & Company, he mentors hundreds of financial advisors from across the country who specialize in The Power of Zero retirement approach. He and his wife Felice have seven children.