Oct 22 2024 11 mins 11
In the past, David McKnight has been critical of gurus like Dave Ramsey. However, this episode looks at a video in which Ramsey seems to have slightly changed his views.
Ramsey emphasizes that one key benefit of a Roth IRA is the potential to drastically reduce or even eliminate Required Minimum Distributions (RMDs).
David explains that the decision to pursue a Roth conversion typically depends on whether you expect your future tax rate to be higher than it is today.
David discusses a missed opportunity in Ramsey's advice to a caller, highlighting a critical point Ramsey seems to have overlooked.
While David acknowledges a solid point made by Ramsey, he also identifies what he describes as "a huge blind spot in Ramsey’s worldview."
David highlights a "right move" by Ramsey – whether it’s a deliberate policy shift or Ramsey unintentionally cornering himself remains to be seen…
David praises Ramsey’s advocacy for Roth accounts, a sentiment he wholeheartedly agrees with.
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
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
