As people live longer, tax rates are likely to rise as well. You’ll either outlive your savings or be taxed to death, regardless of how much you put aside. This book will take you step-by-step through the process of retiring with money in the bank. According to McKnight, if you combine a lifetime income guarantee with an inflation-adjusted asset-shifting strategy, you can avoid longevity risk and the subsequent unintended consequences of higher taxes. It’s an innovative and tried-and-true strategy that maximizes returns while effectively mitigating the two biggest threats to retirement savings.
Tax-Free Income for Life by David McKnight is a great resource for anyone interested in learning more about comprehensive tax planning. The purpose of this book is to address two major concerns of pre-retirees and retirees, namely taxes and the possibility of outliving their retirement savings and investment. A successful retirement is rarely the result of any do-it-yourself project, as is stated in the book’s final chapter. Make an appointment with a financial professional after reading this book. They will be able to help you. Make a few simple changes to your portfolio before it’s too late to lower your future tax bills and ensure that your retirement income lasts for the rest of your life.
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