4 Ways to Build Tax-Free Wealth for High-Income Earners
Description
Today’s episode addresses how to create multiple tax-free income streams that don’t show up on the IRS’s radar and that contribute to you being in the 0% tax bracket in retirement.
Having some money in a tax-deferred account, like an IRA or 401k, is the first way high-income earners can create tax-free wealth for retirement.
Contributing to your Roth 401k or Roth 403b, as well as leveraging a backdoor Roth, are a couple of additional ways to build tax-free wealth in retirement.
David touches upon what CPA and retirement expert Ed Slott calls “the single greatest tax benefit in the IRS tax code.”
David makes a comparison between Indexed Universal Life vs. a taxable brokerage account.
David believes that “the higher your tax bracket, the more it makes sense to reposition surplus savings from your taxable account to indexed universal life.”
Mentioned in this episode:
David’s upcoming book: The Guru Gap: How America’s Financial Gurus Are Leading You Astray, and How to Get Back on Track
David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code
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
United States
