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We’re all conversant in monetary gurus like Dave Ramsey and Suze Orman. They’ve helped many Individuals get rid of debt and take their first steps towards monetary freedom. However in response to David McKnight, the creator and monetary planning professional, that doesn’t imply that their paint-by-numbers method to retirement earnings planning holds water.
Eight p.c withdrawals and 12% assumed common returns sound nice, however disciplined traders who’ve saved effectively and performed by the foundations danger dropping a considerable portion of their nest egg by heeding such “outdated, one-size-fits-all recommendation” so typically shared by monetary gurus.
On this episode of Ask the Retirement Skilled, ThinkAdvisor Senior Reporter John Manganaro speaks with McKnight about closing the hole between what mainstream media personalities advise and the subtle, math-based method that efficient retirement planning requires.
In the course of the episode, McKnight and Manganaro additionally focus on:
– The essential position of annuities and cash-value life insurance coverage.
– Key tax-management methods like Roth conversions.
– The facility of long-term inventory market investing and extra.
To hearken to further podcasts throughout the Ask the Retirement Skilled sequence, click on right here.