Debunking Doug Andrew’s Roth IRA Hit Job Video

The Power Of Zero Show

Content provided by David McKnight. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by David McKnight or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

1M ago 12:01

MP3•Episode home

In this episode of The Power of Zero Show, host David McKnight looks at Doug Andrew’s recent video in which he implored his audience to never use a Roth IRA or a Roth 401(k) again.

Andrew sees Indexed Universal Life insurance (IUL) as far superior and believes it should be the source of the vast majority of your distributions in retirement.

While David likes IUL in certain circumstances, he isn’t a fan of sales strategies that debase every other viable tax-free alternative in an effort to exalt IULs.

For David, the video is riffed with errors, exaggerations and omissions.

Moreover, Andrew’s video appears to have an obvious pre-commitment to persuading you to reposition the lion’s share of your retirement savings into an IUL.

In the video, Doug Andrew’s liking for IUL as the top investment vehicle is evident.

At the beginning of his video, Andrew says that he will explain why the IUL is far superior to the Roth IRA.

David believes that the choice should never be between a Roth IRA and an IUL or between a Roth 401(k) and an IUL.

Remember: your tax-free strategy can incorporate as many as SIX DIFFERENT STREAMS of tax-free income, not just the IUL…

And every one of these tax-free income strategies has unique qualities that set them apart from all the others.

Don’t forget about what your #1 goal should be: to take advantage of every tax-free nook and cranny in the IRS tax code.

David lists the qualities that tools such as Roth IRAs, Roth 401(k)s and Roth conversions have and that IULs do not have.

One of the unique things about IULs is that they give you a death benefit that doubles as long-term care and helps grow your money safely and productively.

David touches upon what he considers “wild claims” featured in Doug Andrew’s video.

An example of inaccurate or untrue information shared by Andrew is that the IUL’s expenses will be paid out of the money that would have otherwise gone to pay a tax… which is wrong!

Contributions to Roth IRAs and IULs are both made with after-tax dollars.

“If anyone ever debases a Roth IRA or a Roth 401(k) in an attempt to sell you an IUL, you should run – not walk – the other way,” concludes David.

Mentioned in this episode:

David’s national bestselling book: The Guru Gap: How America’s Financial Gurus Are Leading You Astray, and How to Get Back on Track

DavidMcKnight.com

DavidMcKnightBooks.com

PowerOfZero.com (free video series)

@mcknightandco on Twitter

@davidcmcknight on Instagram

David McKnight on YouTube

Get David's Tax-free Tool Kit at taxfreetoolkit.com

Doug Andrew

Doug’s video - Why You Should Never Use a Roth IRA Again (6 Reasons Why)

343 episodes

#Trading #Business #David McKnight #Podcasting Education

Debunking Doug Andrew’s Roth IRA Hit Job Video

The Power Of Zero Show

29 subscribers

published 1M ago