This episode is part 3 of David’s interview with Power of Zero co-founder Larry DeLegge.

The two discuss the most dangerous retirement advice from Suzie Orman, Dave Ramsey, and Ken Fisher.

Financial gurus in the business of dispensing one-size-fits-all financial planning advice is David’s biggest pet peeve.

Why do they do it? To appeal to a broader range of Americans.

David explains what his so-called Dave Ramsey’s circle of poverty is all about.

Two out of three people who reach financial independence following Ramsey’s advice will run out of money before they run out of life…two-thirds of the time!

David believes that Dave Ramsey is good for bad investors, but bad for good investors – and cites a couple of examples to illustrate that.

David talks about why he believes Ken Fisher is averse to bringing up Roth conversions to his clients and prospects.

There’s a key difference between Ken Fisher and the likes of Dave Ramsey – David tells it all.

David opens up about something he’s really excited about regarding his new book.

Mentioned in this episode:

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

Dr. Wade Pfau

Tom Hegna

Graham Stephan

Power of Zero YouTube Video Dave Ramsey Eviscerates Co-Host George Kamel for Preaching the 4% Rule

Clark Howard

Today’s video is part six of David’s interview with financial advisor Chris Martens where they discuss the fatal flaw in Dave Ramsey and Suze Orman's retirement planning advice.

They discuss David’s new book, “The Guru Gap,” and how America’s financial gurus are leading people astray.

David believes that Dave Ramsey and Suze Orman have done an incredible service helping many Americans get out of debt and even become rich--but they’re not all that good at helping you stay rich or secure your retirement.

According to David, the problem with most financial gurus is that they're trying to appeal to as broad an audience as possible. To do that they dispense one-size-fits-all financial advice.

Unfortunately, because of this really broad un-nuanced approach, most financial gurus cannot stay behind products like permanent life insurance that require nuance.

David reveals that his main goal is to uncover sustainable retirement strategies and help people wring the most efficiency out of their retirement plan.

David and Chris agree that people should not take financial advice from advisors on TikTok.

David further explains why TikTok is not his favorite place to get financial advice.

Mentioned in this episode:

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

Today’s episode is from David’s conversation with CFP Adam Olson.

They discuss why mega-CPA firm Ernst & Young is saying that if you want to maximize your income in retirement, you should put 30% of your retirement savings into a cash value life insurance.

David reveals what percentage of your savings you should put into a life insurance retirement plan.

David shares the benefits of accumulating three years worth of living expenses in your cash value life insurance–this is to pay for your living expenses in the year following a downturn in your stock market portfolio.

According to David, the benefit of doing so is it gives your stock market portfolio a chance to recover before taking further distributions.

If you’re 50 years or younger, put 30% of your retirement savings towards cash value life insurance. This move alone will double your sustainable withdrawal rate in retirement.

So, if you’re saving 25% of your income for retirement, David recommends putting around 8% into a cash value accumulation product.

Mentioned in this episode:

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