Episode 114: My Take On Financial Gurus, Tax Fear Mongering, Tax Payment Procrastination, and More

There are a lot of stigmas around retirement planning and David’s new book addresses two of the most difficult problems facing retirees right now, longevity risk and tax rate risk, and how to deal with them at the same time. Tax rate risk has always been a big problem for retirees, but it’s not their biggest concern. Most people worry more about running out of money before they run out of life. David has observed that financial advisors are stuck believing they can solve one risk or the other. 99.5% of advisors fall into this trap where they mitigate longevity risk within the tax-deferred bucket, and that unleashes a chain of unintended consequences that can bankrupt a stock market portfolio ten to twelve years faster than you thought possible. Daniel recommends to every financial professional he meets that they read the Power of Zero collection of books. You’re not relevant to the retirement space if you don’t have some part of your company’s philosophy centered in the Power of Zero m...