An Introduction to Life Insurance Retirement Plans
Life Insurance Retirement Plans (LIRPs) have gained traction among those looking for creative ways to approach retirement income. Combining life insurance protection with the potential for tax-deferred growth and tax-free withdrawals, LIRPs may appeal to individuals seeking to diversify their income streams beyond traditional retirement accounts. However, as financial advisor and author David McKnight emphasizes […]
Is Your Taxable Bucket Holding You Back from the 0% Tax Bracket?
We’re big believers in the power of financial education—and in helping our clients take smart steps toward a 0% tax rate in retirement. That’s why we’re sharing this excerpt from The Power of Zero by David McKnight. It breaks down how your taxable bucket works and how to use it wisely on the path to […]
Avoiding the Greatest Financial Risks to Retirees – Part II
If you read our last article, you know that we shared an excerpt from industry expert David’s McKnight’s powerful book, Tax-Free Income for Life. In it, David detailed the first great retirement risk we’re all facing – the risk of tax rate increases. Today, we’re back with another excerpt from David as he explains the […]
How the Baby Boomer Shift Could Impact Your Future Tax Bill
At Paraclete Wealth Management, we believe our commitment to educating our clients sets us apart. The content below adresses your potential retirement tax burden, and it is partially excerpted from The Power of Zero, by David McKnight. We believe you’ll find it eye-opening. The Baby Boomer generation is well-known for being the product of the […]
Avoiding the Greatest Financial Risks to Retirees – Part I
At Paraclete Wealth Management, our goal is to give each of our clients a personalized plan for a stable retirement. In order to do that, we have to help them avoid the two greatest retirement risks. There are several significant roadblocks to a financially stable retirement, and too many people find themselves living in fear […]
The Tax Trade-Off: Rethinking Tax-Deferred Retirement Accounts
At Paraclete Wealth Management, we believe our commitment to educating our clients sets us apart. The following content on tax-deferred retirement plans is partially excerpted from The Power of Zero by David McKnight, and we believe you’ll find it eye-opening as you plan for a tax-efficient retirement. So many clients come through our doors having […]
Achieving Retirement Confidence: Customizing Your Financial Strategy
Retirement planning involves more than just saving—it requires a strategy that accounts for income needs, market fluctuations, taxes, and long-term financial goals. While many financial plans follow general guidelines, achieving confidence in retirement often comes from a customized retirement financial strategy that aligns with individual priorities and risk tolerance. By tailoring investment decisions, income streams, […]
Avoiding the Retirement Tax Trap: Strategies to Minimize Taxable Distributions
Many retirees focus on saving for retirement but may not fully consider how taxes will impact their withdrawals. Without a proper strategy, required minimum distributions (RMDs) and other taxable withdrawals can push retirees into higher tax brackets, reducing the amount of income they can use. Understanding strategies to minimize taxable retirement distributions can help individuals […]
The Potential ‘Tax Train Wreck’ Retirees Should Be Aware Of
At Paraclete Wealth Management, we are committed to helping our clients achieve lives of meaning and purpose. What does that mean? Well, the specifics are different for everyone, but we believe every person’s strategy should include a comprehensive approach to financial planning. Most especially, it means having a retirement plan that takes into account the […]
Customizing Your Retirement Roadmap: A Step-by-Step Guide
Retirement is not a one-size-fits-all journey. Every individual has unique financial circumstances, goals, and concerns that shape how they plan for their future. A well-structured personalized retirement planning roadmap can help individuals navigate key decisions, from optimizing tax strategies to managing income and investments for long-term sustainability. By following a structured approach, retirees can create […]