American retirees face a looming crisis. We are living longer than ever before, and most experts predict a dramatic rise in tax rates within the next ten years. The hard truth is that no matter how much you save, you are likely to outlive your money or watch it be taxed into oblivion. But when traditional retirement distribution strategies won’t provide sufficient income in the face of higher taxes, what can you do?
Tax-Free Income for Life lays out a strategy that guarantees a secure retirement. McKnight shows how the combination of guaranteed, inflation-adjusted lifetime income and a proactive asset-shifting strategy can shield you from longevity risk and the cascade of unintended consequences that result from higher taxes.
If ever there were a solution for the American retiree, it’s guaranteed tax-free income for life.
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Former NFL great Ted Hardy took an early retirement at age 50 after selling his sporting goods chain for a cool $3 million net after tax. At the time, Ted’s money manager made a simple promise: If you stick to your withdrawal plan and get reasonable average annual returns, you’ll never run out of money and you’ll die with millions. Nineteen years later, Ted’s stepson and financial power of attorney Jack Wheeler is called into town to sort out Ted’s finances after Ted suffers a major health crisis. Confident that Ted still has millions in his stock market portfolio, Jack makes plans to place him in the best long-term care facility in town. But after examining Ted’s investment statements, he makes a shocking discovery: Over $5 million is missing from Ted’s portfolio. As Jack investigates the disappearance of his stepfather’s money, he learns financial truths that challenge conventional wisdom and reveal a gaping hole in his own retirement picture.
As Americans have less and less discretionary money it is now even more difficult to build for a successful retirement. This strategy allows for more aggressive investing, quality lifetime retirement income and legacy planning, all the while protecting for long-term care. All with the same dollars! Every American should read this book!
– Van Mueller, LUTCF
In THE POWER OF ZERO, McKnight provides a concise, step-by-step roadmap on how to get to the 0% tax bracket by the time you retire, effectively eliminating tax rate risk from your retirement picture. Now, in this expanded edition, McKnight has updated the book with a new chapter on the 2017 Tax Cuts and Jobs Act, showing readers how to navigate the new tax law in its first year of being in effect, and how they can extend the life of their retirement savings by taking advantage of it now.
The day of reckoning is fast approaching. Are you ready to do what it takes to experience the power of zero?
David McKnight (who, like me, also loves “tax-free”), provides you with a road map of how to get to the 0% tax bracket, virtually eliminating the tax risk, which, if not addressed, will easily consume a solid portion of your retirement savings.
– Ed Slott, America’s IRA Expert
In this follow-up book, Look Before Your LIRP, he makes the case that, while a variety of LIRPs may help get you to the 0% tax bracket, not all will do so with the same efficiency or effectiveness. In fact, finding the right LIRP for your tax-free retirement plan can be just like finding the ideal spouse. Just as you likely had a list of qualities you were looking for in a life-long partner, you should have certain attributes and provisions in mind when looking for the ideal LIRP.
Look Before Your LIRP spells out exactly what you’ll need to build a successful LIRP relationship and reveals the one LIRP best suited to get you to the 0% tax bracket.
Life insurance for retirement? Yes! Once again David McKnight shows us how to use what I believe is the single biggest benefit in the tax code – the tax exemption for life insurance – to create the holy grail of retirement planning. The ‘Life Insurance Retirement Plan’ is something every retiree (or soon-to-be retiree) should consider if they don’t want to spend their retirement years worrying about the stock market or Uncle Sam devouring their retirement savings.
– Ed Slott, CPA and retirement expert