David McKnight describes the Trump tax cuts situation before Trump’s victory at the 2024 presidential elections.

There’s likely going to be changes under a new Trump administration – something that David sees as great news.

When it comes to Roth conversion strategy, David is a believer in two things.

The first is to convert your money slowly to avoid rising into a tax bracket that gives you heartburn.

The second is to convert your money quickly enough to get all the heavy lifting done before tax rates go up for good.

While the posting of the end of the Trump tax cuts to 2032 would be good for American citizens, there’s a big downside for the country as a whole.

Several experts have predicted a need for a tax rate increase to prevent the U.S. from going broke as a country.

Eight more years with historically low tax rates would be especially critical for pre-retirees and retirees looking to shield their retirement savings from a predicted spike in tax rates in the future.

David shares something he believes can dramatically increase the likelihood of retirees having their money last as long as they will.

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

Donald Trump

Committee for a Responsible Federal Budget

David M. Walker

Larry Kotlikoff

Ray Dalio

Stanley Druckenmiller

This episode is a critique of a recent video by George Kamel on the supposed benefits of paying off your house in 10 years.

David McKnight examines Kamel’s viewpoint on early mortgage payoff and whether it’s truly beneficial – do you really come out ahead by eliminating your mortgage as fast as possible?

A major point David sees as a disadvantage is the fact that by paying off your mortgage early, you may lose access to the equity in your home.

David highlights the opportunity cost of using funds to pay off a low-interest mortgage (as low as 3%) instead of investing them in the stock market for potentially higher returns.

Kamel believes that the longer you take to pay off your loan, the more interest you pay.

According to Kamel, how much interest you pay depends on three things: the loan amount, the interest rate, and the time it takes you to repay the loan.

David shares an example that illustrates why following the advice of George Kamel’s video isn’t a good idea – and why it could cost you (a lot!) of money.

“Dave Ramsey is so fixated on getting people out of debt that he hasn’t bothered to calculate the opportunity costs associated with doing so,” says David.

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

George Kamel

George Kamel’s Video How to Pay Off Your House in 10 Years or Less

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