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We’re all accustomed to 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 writer and monetary planning skilled, 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 buyers who’ve saved nicely and performed by the principles danger shedding a considerable portion of their nest egg by heeding such “outdated, one-size-fits-all recommendation” so typically shared by monetary gurus.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 Professional, ThinkAdvisor Senior Reporter John Manganaro speaks with McKnight about closing the hole between what mainstream media personalities advise and the delicate, 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 take heed to extra podcasts throughout the Ask the Retirement Professional collection, click on right here.
