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Because ROTH IRAs are tax-free, you'll be able to keep more of the money you've worked so hard to earn.I want to invest more than $300k, but I'm not sure how to go.

Let’s start with Ronald Regan , and truly see, the truth, that’s why we have arrived here. Corporate Geed , and profits, tax breaks, removal of social services. Privatization, so the corporate greed, could let University’s , could, change as much as they could Get, and the rest landed on middle class taxpayers. You’ve F’ed over to knowingly help big oil corporations, GOP denied global warming and climate crisis.

@ The Power of Zero. Thanks. What's the bias for only having a 85% likelihood of success using the 4% rule?

Yes, taxes may go up. However, in our retirement years, we would pay relatively less taxes than those who are working.

Dave Ramsey helped me over 25 years to get my finances in order, but I did not like how he called people stupid in the videos. There is nothing wrong with having a credit card if you can pay it off when your statement comes in. Things have changed over these 25 years and looks like his course is still the same. You have to change with the time and I do believe if Rachel takes it over, it will start changing. I have been wanting to do a financial ministry, but as of this time, I can't go with "Financial Peace".

Interesting perspective! Initially after obtaining my license I was going to work for him. I watched most of his videos, established a relationship and read his books (which were good), but at the time I was still a neophyte in terms of my understanding of IUL’s. Here I am a few years later a bit more educated and I agree with your perspective in terms of looking good on paper, but IUL’s have a lot of moving parts. MPI in hindsight seemed a no brainer,but with increased education and awareness the complexity became more apparent to me.

I would like to know more and I want to know.Is it good to get a iuL

I am on Ken Fisher's side. Annuities and ROTH conversions are 2 of the worst financial products of them all. Especially compared to long run investment in the USA stock market. ROTH: you are prepaying tax. why? You risk the time value of money, violate the accounting matching principle, accept inflation impact of value decline, and if you die, at least the government is happy. ROTH conversions are marketed by finance people in the insurance industry...they all use the same line, protection of future tax increase. But the 'cost of that protection' is favorable to them, not you. Annuities have many cost issues too, I won't start on them here. The stock market is not scary, if you accept volatility and can manage the value change. 10% return and 100% liquid is what you get. My cost is visible. .003% of asset base, I keep the advisor's 1%. The USA Stock Market = TINA.

Good video. When you do the calculation for taxes, you should reduce by the standard deduction which is around 30k for married filing jointly. If all goes as planned, my wife should have a pension of around 70k and we should have over 2 million in our 401k with 75% of it being taxable. Planning on delaying social security and doing conversions at 61 when we retire. Hopefully some of the conversions is at the lower brackets. I’m really concerned about RMD’s and just leaving that taxable portion alone.

Why does no one talk about what retirees are actually investing in on this show? It ain’t all stocks

This didn’t age well … muni bonds are at 5%

Is anyone actually getting 11-12% every year?

How is a $6K+ tax increase equal a "minor" tax increase? I'm all ears... That's a 17% increase.

While it’s true that tax rates are likely to go up (especially if Biden wins the 2024 election), it’s also true that neither annuities nor Roth conversions are for everyone. The problem is with the so-called “fiduciaries”, the majority of whom are anything but, because their gig is to use your money to make theirs in any of several ways. Ken Fisher is but one of the more prominent examples of this, which is why I would never do business with his firm.

Ken fisher is a money manager. He’s probably paid by how much money her has under management. If client does a IRA to Roth conversation normally there are taxes that must be paid. That’s less funds under management for Ken Fisher to get fees from. Also he probably doesn’t want to hear customers come back to him after a taxable conversion and say, you didn’t tell me about the tax consequences Ken! Ken gets no benefit from encouraging his clients to convert to Roth. Why would he encourage them to do that. Same for the annuity if he doesn’t sell them then why promote them. In this world you get what you incentivize for. Don’t make the Fox manager of the hen house if you don’t want to here excuses about why the chickens keep going missing. It’s a shame Ken Fisher isn’t more like his Father The great Phil Fisher who was a great investor and a hero of Warren Buffet. 😊

He doesn't make money on Roth conversions.

It’s called being a FIDUCIARY.

True..they tell you 9-13%..in reality that’s not so..

Is George co host or an employee?

David Mcknight is one of the few people out there telling us the truth. The Roth is a great vehicle for those who saved and invested or receive a pension and real estate income. I read his book and he is a money man with integrity.

You didn't really say anything to refute that insurance and annuities are a scam.... You just talked past it.

Ken Fisher is so fake. He charged people huge commissions for years. Once that business model did not work anymore he became this nice guy not charging commissions unless he makes you money. If he could still charge use commissions and people would go for it he would be doing it.

You are completely correct. Fisher is duplicitous and conflicted about his fiduciary role.

Fishers fees were very high for someone in my financial status at least when I looked into his services, 1.25%. Have you studied how much drag that is on a portfolio. Now if I though they were actually setting me up with my own personal portfolio, that might be worth it. But I'm sure what they are doing is developing a set of standard portfolios like an S&P 500, etc and mixing and matching to meet a customer's preference.

Thanks for this. A friend is trying to get me into this, but I don't think I qualify. Anywho, this was great information. Thank you!

Telling a client to NOT do a Roth is downright criminal.

Dave Ramsay is a moron.

People who follow Dave Ramsey have no debt and lots of cash. Sounds like only 5% of people who listen to you have enough cash 😂

If you go into retirement and the market has a bad year and goes down 20% and you draw 8% for living expenses, then your portfolio is down 28% in one year. Then you’re screwed.

And, Dave preaches managed funds over no-load funds which would cost 1% to 2% knocking down your withdrawal rate even further.

I like investing in close-end funds that pay monthly dividends. The trick is to hold long term and reinvest the monthly dividends plus buy more shares on a monthly basis or when ever you can afford to. This can be easily done because close-end funds are bought and sold on the stock market just like regular stock. That’d be enough to create a portfolio that would pay you between $50k to $70k in dividend income

The insurance company makes a lot out of annuities. If giving up that return in return for absolute predictability floats your boat, then buy an annuity.

Dave Ramsey is wrong on this one.

Your videos are amazing. I really like it. I am a new subscriber to your channel. Can I talk with you David?

Your videos are amazing. I really like it. I am a new subscriber to your channel. Can I talk with you Charles?

Salesmen love them.

7% is NOT conservative. Averages are averages. They aren’t annual guarantees. Humble yourself, Dave.

I’m glad more people are starting to realize that Dave is a prideful idiot.

Raise taxes... They will just spend more

Let’s not forget about the capital gains tax you have to pay on closing out your investments.

George probably felt like a us press secretary on this one 😅

We’ve been watching your UA-cam videos regarding Dave Ramsey/cash value life insurance and have been saying the same things for many years. Buy term and invest the difference is what LIRPs do. Aside from the idea that 12%-8%=4% and that should be enough not accounting for changing market returns over time is the idea that inflation is ACTUALLY 4% historically. Even if you believe the numbers they’ve been feeding us over the years, the last 4 years should be an indication that they’ve been vastly understated. The big issue we have with his argument/argumentative approach to this is that he claims to do it to preserve hope for the people. Concealing the actual information on how this works from the public seems very similar to government concealing actual inflation numbers. If the general public were aware (and often is because they buy gas, groceries, etc., it’s just that they’re doing and feeling instead of doing the math all the time because it’s “overwhelming”), that could lead to quitting jobs, not paying taxes, eventually civil unrest, etc.-not a good outcome. It seems a better way is to educate people and show them the monster they’re facing so they can do something about it and not realize it when it’s too late, all in an effort to preserve the status quo of his program and “give the people hope”. He does do a lot of good for a lot of people but blanket approaches to every situation aren’t realistic or effective. We can all do better and we’d like to see him do better because he has a large platform, he could do a lot more good than pushing this agenda. Also, as financial advisors, we appreciate what you’re doing. There is a train coming and people need to step off the tracks.

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

Dave Ramsey “in a nut shell”… Dave will never waiver from his baby steps and investing advice. He is a master salesman. He makes a killing off of all of advertisers.

George was for the 4% rule before he was against it.

caleb hammer really appeals to younger generations and ramit because he says to not buy homes

A little too much echo where you are now. Love the videos.

Another thing Dave is wrong about but will never admit is he says you should invest 25% in international markets. Nearly every international market has underperformed the US over the past 20, 40 and 60 years.

He ripped George a new one!! 😂

He is not talking only market risk.. That is not what I heard. He is talking future tax rates as a risk. The info I have observed from is YES HE IS A PROPONENT OF IUL.. BUT SUGGESTS EVERYONE TRY TO ACHIEVE 40% to 60% of income in retirement as tax free. I wish you would have played the 4 benefit of IUL over a Roth.