When Should You Use an LIRP
In today’s interview, I talk about when you should use an LIRP, how it can help get you to the 0% tax bracket, how to mitigate tax rate risk, and why it’s so important to have multiple streams of tax free income. Lane Martinson interviews me on these topics and more!
If you’re worried about running out of money early in retirement, or are afraid that your future taxes will be more than you planned for, getting to the 0% tax bracket is key. Tax rates are likely to rise in the coming years, so building a tax free retirement is more important than ever.
0:00 Intro
0:39 What is the Power of Zero?
3:22 Mitigating the risk of higher taxes
5:07 When will the tax rates rise?
6:45 What are LIRPs?
9:32 Zero tax bracket tax planning
12:17 David’s new book
15:53 Some last advice for retirement
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Пікірлер: 8
Great information, thanks for the interview David!
@DavidMcKnight
Жыл бұрын
Thanks for having me Lane!
Interesting you use the analogy of 1 in the hand beats 2 in the bush to make a point why conservation is good. That is exactly my reason why not to convert. I would rather take my 1 in hand today in higher balance vs the risk of losses in future impacting the lower Roth account balance and the ability to take advantage of capital losses (if you withdraw and don’t convert).
Hi Dave, can I do Roth conversation at any age if I am still working for the same company that I have my 401K?
@DavidMcKnight
Жыл бұрын
Are you saying convert your 401(k) at any time?
Feedback on the host’s audio is extremely annoying.
@DavidMcKnight
9 ай бұрын
Thank you for your constructive feedback.