I was going to do a more typical TickTock review but then realized that a 140-page marketing brochure masquerading as a retirement plan doesn't need that treatment.
Review: McKnight has added longevity risk to tax-rate risk. Accordingly, he now wants to sell you a Fixed Index Annuity in your Roth plan in addition to the Universal Indexed Life insurance policy that he sold you in his previous book The Power Of Zero. End of review.
Afterward: It gets exhausting keeping track of how McKnight slants things; if he likes something he touts it and if he dislikes something he dismisses it. A couple of examples: p.37 "As a result, retirement experts have downgraded the Four Percent Rule to the Three Percent Rule." Hardly a universal conclusion. p.51 he uses a 6% withdrawal rate for a 65-yo purchasing a SPIA. You only need to accumulate half the amount compared to the Three Percent Rule! So he takes a pessimistic SWR for a CPI inflation-adjusted portfolio income and compares it to a level income for a SPIA. p.61 "Prior to electing the guaranteed lifetime income, the FIA's accumulation account grown safety and productively. (The SPIA, in contrast doesn't have an accumulation account, because it doesn't have a deferral period." That's true. You know what does have a deferral period? A DIA. Guess what product is not mentioned in the book? DIAs.
Final Note: As of 2024 McKnight has entered into an exclusive partnership with Financial Independence Group. PRESS RELEASE: Financial Independence Group Announces Exclusive Partnership with Power of Zero and Tax-Free Retirement Expert David McKnight – FIG Marketing FIG deals in Annuities, Life Insurance, Care Planning, Disability Income, and Medicare Planning. (Source: Google top search result of 'financial independence group').
Review: McKnight has added longevity risk to tax-rate risk. Accordingly, he now wants to sell you a Fixed Index Annuity in your Roth plan in addition to the Universal Indexed Life insurance policy that he sold you in his previous book The Power Of Zero. End of review.
Afterward: It gets exhausting keeping track of how McKnight slants things; if he likes something he touts it and if he dislikes something he dismisses it. A couple of examples: p.37 "As a result, retirement experts have downgraded the Four Percent Rule to the Three Percent Rule." Hardly a universal conclusion. p.51 he uses a 6% withdrawal rate for a 65-yo purchasing a SPIA. You only need to accumulate half the amount compared to the Three Percent Rule! So he takes a pessimistic SWR for a CPI inflation-adjusted portfolio income and compares it to a level income for a SPIA. p.61 "Prior to electing the guaranteed lifetime income, the FIA's accumulation account grown safety and productively. (The SPIA, in contrast doesn't have an accumulation account, because it doesn't have a deferral period." That's true. You know what does have a deferral period? A DIA. Guess what product is not mentioned in the book? DIAs.
Final Note: As of 2024 McKnight has entered into an exclusive partnership with Financial Independence Group. PRESS RELEASE: Financial Independence Group Announces Exclusive Partnership with Power of Zero and Tax-Free Retirement Expert David McKnight – FIG Marketing FIG deals in Annuities, Life Insurance, Care Planning, Disability Income, and Medicare Planning. (Source: Google top search result of 'financial independence group').
