The Power Of Zero Show

Dec 10 2024 318 ep. 15 mins 167
The Power Of Zero Show Podcast artwork

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.

  Business  Education
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First Major Book Critical of Dave Ramsey Retirement Advice Set to Publish

Dec 10 2024 29 mins  
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 demo

First Book Critiquing Dave Ramsey's Retirement Advice Set to Publish

Dec 03 2024 20 mins  
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 advanc

How to Tell If a Financial Guru Is Telling You the Truth

Nov 26 2024 10 mins  
This episode is part of David McKnight’s guest interview with Kyle Solon. David talks about the importance of math when it comes to decisions related to using cash value, life insurance, and annuities. A recent Ernst & Young study showed a surprising stat about who had the highest income in retirement and passed the most money on to the next generation. David illustrates the conc

What Trump’s Election Means for Your Roth Conversion Strategy

Nov 19 2024 5 mins  
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

The Huge ERROR in the Dave Ramsey-George Kamel Plan to Pay Off Your Home in 10 Years

Nov 12 2024 7 mins  
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 of

The Top 6 Reasons to Do a Roth Conversion

Nov 05 2024 6 mins  
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

Understanding the Tricky Roth 401(k) Distribution Rules

Oct 29 2024 4 mins  
David McKnight explains how a lack of knowledge about Roth 401(k) distribution rules can lead to unexpected taxes and penalties. This episode dives into practical insights to help you steer clear of unwelcome surprises from the IRS. David illustrates what happens if you withdraw from your Roth 401(k) before age 59½, and how these rules differ from those of a traditional Roth IRA.

Is Dave Ramsey STILL Wrong on Roth Conversions?

Oct 22 2024 10 mins  
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 typi

Grant Cardone: Never Own a Home, Go to College or Invest in a 401(k)! (YIKES)

Oct 15 2024 12 mins  
In a recent video, real estate influencer Grant Cardone made some bold claims, advising against attending college, owning a home, and he even suggested that people should cash out their 401(k)s to invest in real estate. David McKnight calls this advice irresponsible, dangerous, and lawsuit-worthy. Far more Americans achieve millionaire status through consistent stock market investi

The Easiest, Low-Hassle Way to Become a Millionaire (2nd Place isn’t even close)

Oct 08 2024 6 mins  
This episode explores the easiest and most hassle-free way to achieve millionaire status. According to Fidelity, the number of 401(k) millionaire accounts they manage has skyrocketed from 100,000 in 2017 to nearly 500,000 in 2024. “The slow and steady approach to building wealth is the best way to become a millionaire today,” says David McKnight. David explains why this method