Is Your IRA a Tax Time Bomb? Planning Strategies Before Age 73
As retirement approaches, many Americans are focused on savings, not tax consequences. Yet for those holding significant balances in traditional IRAs, there’s an often-overlooked threat on the horizon: Required Minimum Distributions (RMDs). Beginning at age 73, the IRS mandates that retirees begin drawing from their tax-deferred accounts, whether they need the income or not—and those withdrawals are taxed as […]
The Rising Tax Burden: What Retirees Need to Know Now About Future Rates
At Paraclete Wealth Partners, we believe retirement planning should be as intentional and meaningful as the life you’re building toward. For many of our clients, this means not only aligning their finances with their goals, but also preparing for the challenges that come with an evolving economic landscape—particularly when it comes to taxes. One of […]
Paraclete Wealth Partners Announces Lori Miller as Chief Talent Officer
Strengthening Leadership to Support Continued Growth and Advisor Development Paraclete Wealth Partners is pleased to share a leadership announcement as we continue to expand our team and strengthen our organizational foundation. Our firm has welcomed Lori Miller as Chief Talent Officer, a role focused on supporting growth through strategic recruitment and team development. Miller brings […]
What Happens When You Follow Traditional Retirement Advice? A Real-Life Case Study
Many financial professionals continue to recommend Roth conversions as a one-size-fits-all strategy—convert aggressively now, pay taxes today, and enjoy tax-free income later. However, David McKnight’s The Guru Gap urges retirees and pre-retirees to take a closer look at the long-term consequences of that advice. While Roth IRAs offer compelling advantages, the timing, amount, and broader […]
How to Help Protect Your Retirement Savings from Market Volatility
Market volatility can be unsettling at any stage of life, but it’s especially concerning for those nearing or already in retirement. Traditional advice often leans heavily on staying the course with long-term equities, but for retirees who rely on their savings to generate income, market downturns can be disruptive and even detrimental. Drawing from David […]
Roth Conversions and Retirement: What the Gurus Aren’t Telling You
In today’s uncertain tax landscape, many retirement savers rely on advice that worked decades ago—but may no longer apply. While traditional approaches encourage consistent saving in tax-deferred accounts like 401(k)s and IRAs, they often overlook the long-term implications of future tax increases. Financial author David McKnight, in his book The Guru Gap, challenges this conventional […]
The Four Percent Rule: Retirement Staple or Outdated Myth?
For decades, the Four Percent Rule has been a go-to guideline for retirees: withdraw 4% of your portfolio annually, adjust for inflation, and your money should last 30 years. However, in today’s retirement landscape—riddled with tax uncertainties, market volatility, and longer life expectancies—many financial professionals are questioning whether this strategy still holds up. Let’s explore […]
Retirement’s Hidden Dangers: Four Risks You Can’t Afford to Ignore
When most people think about retirement planning, they focus on saving diligently, managing investments, and selecting the right time to retire. However, according to retirement strategist and author David McKnight, there’s a major disconnect between common financial advice and the evolving challenges today’s retirees face. In his book The Guru Gap, McKnight reveals four often-overlooked […]
The Retirement Planning Divide: Why Popular Advice May Be Holding You Back
Conventional wisdom often feels comforting. If the most well-known financial personalities are suggesting strategies such as delaying taxes, loading up your 401(k), and relying on long-term market returns, it could be a potential approach to consider. Not necessarily. In his book The Guru Gap, David McKnight questions the retirement planning advice shared by mainstream financial […]
Look Before You LIRP: Finding the Right LIRP for You
When it comes to planning for retirement in a potentially rising-tax environment, many Americans are looking beyond traditional tax-deferred accounts. Life Insurance Retirement Plans (LIRPs) have emerged as one strategy to consider—offering a combination of death benefit protection and the opportunity for tax-advantaged growth. However, not all LIRPs are created equal. Choosing the right Life […]