The Power Of Zero Show
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.
Episodes
David McKnight goes through his five cardinal rules for doing a Roth conversion.
The first principle is simple: don’t do a Roth conversion that bumps you into a tax bracket that gives you heartburn.
Not sure about what a heartburn-inducing tax bracket looks like? David shares a simple “rule of thumb” you can follow.
In your zeal to get your Roth conversion done before tax rates go up for good, don’t bump into the 32% tax bracket al...
Wondering when you should start thinking about a Roth conversion? That’s exactly what David McKnight dives into in this episode of The Power of Zero Show.
The retirement valley is that dip in taxable income that happens after you retire but before RMDs kick in – at age 73 or 75, depending on your birth year.
David walks through an example: you’ve got $2 million in your IRA and want to convert all of it to Roth.
If you take action d...
David McKnight addresses the most efficient order in which to spend your assets in retirement.
Online programs and algorithms that forecast and run calculations related to your retirement assets suggest starting with your tax-deferred assets like 401(k)s or IRAs.
Such tools recommend spending down your tax-deferred assets now, when tax rates are low, and your tax-free assets later – when tax rates are likely to be higher than they ...
Today’s episode of The Power of Zero Show looks at a recent podcast episode in which Suze Orman recommended having three to five years of living expenses in cash during retirement.
Experts have long debated the rate at which retirees can draw down their assets while maintaining a high likelihood of not running out of money before they die.
Since the early ‘90s, the gold standard for sustainable distributions has been the 4% Rule.
A...
Today’s episode addresses five reasons why a Roth IRA is one of David KcKnight’s favorite tax-free investments.
Unlike other retirement accounts, Roth IRAs give you 100% liquidity on all contributions.
While David isn’t necessarily suggesting that you use your Roth IRA as an emergency fund, it’s nice to know that you won’t have to wait until age 59 ½ to be able to access those funds.
If you happen to take out your Roth IRA contrib...
This episode of The Power of Zero Show is part of David McKnight’s podcast interview with Caleb Guilliams and Tom Wall, PhD.
David touches upon a recent Ernst & Young study where whole life insurance was used as a buffer-type strategy.
When it comes to the “risk continuum”, David sees IUL as slightly on the right side of whole life insurance.
IUL is something worth doing only if you think that risk premium can get you a slightly hi...
Today’s episode of The Power of Zero Show features part of David McKnight’s conversation with Caleb Guilliams and Tom Wall, PhD.
David kicks things off by addressing the liquidity issue.
Handing a chunk of your retirement savings over to an insurance company in exchange for a stream of income that’s guaranteed to last as long as you do sounds great in principle, but people often have consternation about it…
The thought of losing li...
This episode of The Power of Zero Show is part of David McKnight’s conversation with Caleb Guilliams and Tom Wall, PhD.
David touches upon the “dangerous partnership” between the American people and the IRS.
David is an advocate for a balanced, comprehensive, approach to tax-free retirement – he explains why that’s the case.
One of the things David likes about IULs is the fact that they can perform specific applications that no oth...
In this episode of The Power of Zero Show, David McKnight addresses different strategies for tax-free retirement planning in 2025.
Most Americans are a little nervous when it comes to the fiscal trajectory of the U.S..
According to expert forecasts, the likely extension of the 2017 Trump tax cuts would take the current $36 trillion of national debt beyond the estimated $54 trillion by 2034 – taking it all the way to $59 trillion.
A...
David McKnight discusses a couple of really good reasons for doing a Roth conversion when you’re expecting a pension in retirement.
David sees the American tax system functioning in a similar way as a graduated cylinder.
Your income goes in and flows all the way down to the bottom. Some of your money gets taxed at 10%, at 12%, 22%, some at 24%, 32%, at 35%, and some at 37%.
Jeff Bezos, too, has some of his earned income taxed at 1...
This episode of the Power of Zero Show sees host David McKnight address Dave Ramsey’s advice – inviting a member of his audience to fire his tax advisor for recommending a 401(k).
The problem with “financial gurus” like Dave Ramsey and the call-in shows they host is that they provide one-size-fits-all prescriptions that are delivered in very stark black and white terms.
While David is an advocate for accumulating money in tax-free ...
Today’s episode is a podcast guest interview David McKnight did for Josh Jalinski’s The Financial Quarterback Podcast.
David gives Josh’s audience a quick bio that spans from his early days in the financial services space in 1997 all the way to his latest book The Guru Gap.
The premise of The Guru Gap is the difference between the 1990s when people had very few options to vet out financial planning advice and today, where they have...
David McKnight takes a closer look at Suze Orman’s take on annuities – and at why she recommends her audience avoid them at all costs.
Suze Orman labels the 5.4% compounded annual rate of growth one of her audience members (Janet) has had over the last six years as “horrific in today’s market.”
David believes that the main issue with Suze Orman’s approach is that it engages in a classic case of apples to oranges comparison.
Accordi...
This episode looks at whether you qualify or not for the $200 billion Social Security benefits approved by the U.S. Congress.
Host David McKnight shares that, with the current status quo, the Social Security Trust Fund is on pace to go bust by 2033.
If that were to happen, only about 83% of benefits would be paid out…
If signed into law by President Joe Biden, the Social Security Fairness Act would provide an additional $200 billi...
In this episode, host David McKnight tackles a question about the tax bracket at which you should stop contributing to the Roth IRA and start contributing to the traditional IRA.
The inspiration for this episode was a recent episode of The Money Guy Show.
David believes that advice such as that shared on The Money Guy Show doesn’t consider most of the people asking questions like the one addressed in the episode.
Those are people w...
David McKnight looks at a recent study on retirees that seems to tell a different story compared to what many people in the U.S. tend to believe.
Americans often view guaranteed lifetime income annuities skeptically – they’re perceived as a drag on the growth of their stock market portfolio.
According to the study by retirement researchers David Blanchett and Michael Finke, retirees with guaranteed lifetime income spend about twic...
The episode explores whether the proposed Department of Government Efficiency (DOGE) will move the needle when it comes to the U.S. debt crisis.
Some people see DOGE as the bold move America needs to solve its looming debt crisis.
Elon Musk believes that DOGE can rip out at least $2 trillion out of the $6.5 trillion Biden-Harris budget – however, David McKnight disagrees.
David gives a breakdown of the federal budget, including the...
The episode kicks off with David McKnight sharing his view of the guru’s approach: “to go about half an inch deep and ten miles wide.”
David discusses a sort of clash that financial planning gurus are creating by trying to attract — or even 'steal' — clients from financial planners who already have them.
The goal of financial planners should be to provide a bridge between the advice clients get from financial gurus and their ultima...
This episode is based on David McKnight’s interview with Lane Martinsen on Financial Fast Lane.
David shares how he started in the financial planning industry, as well as the backstory of his new book, The Guru Gap.
The Guru Gap focuses on several financial gurus such as Dave Ramsey, Suze Orman, Clark Howard, and Ramit Sethi.
David finds it interesting to see financial gurus demonizing the types of recommendations him and his peers...
This episode is based on David McKnight’s recent interview for Stephen Gallo’s podcast.
David explains how the advice shared by gurus tends to work – and the role financial advisors play.
David touches upon his concept of “Dave Ramsey’s circle of poverty.”
According to Wade Pfau, adopting the approach shared by Dave Ramsey will lead to you running out of money in advance of actuarial life expectancy 63% of the time.
To avoid fallin...
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