Rebecca Hotsko chats with Dave Alison. In this episode, they discuss the 3 accounts we can funnel our money into and which investments we should ideally hold in each account, what problems can arise later on from having most of your wealth tied up in pre tax accounts, what are some other tax deductions we can create beyond putting money into tax deferred accounts, and much more! 

Dave Alison, CFP®, EA, BPC, is a financial planner and entrepreneur and is the lead trainer and a founding partner of Clarity 2 Prosperity where Dave serves as a mentor and coach to thousands of financial advisors nationwide. He has developed numerous holistic financial planning training and is the creator of The Tax Management Journey℠. Dave’s ability to engineer advanced financial, tax, investment, insurance, and estate planning needs into one holistic plan also led him to found Alison Wealth Management, which serves clients virtually across the U.S. Dave is also a member of the Financial Planning Association.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

04:05 - What investment options Dave recommends for someone who has a near term goal (of less than 2 years) but they don’t want their money just sitting in cash. 

06:32 - What investment options Dave recommends for someone who is very risk averse and wants an investment that offers a guaranteed return, even if it’s low. 

10:10 - What situations does it make sense for a millennial to start considering annuities? 

12:25 - The three resources permanent life insurance provides. 

14:27 - His framework for building a tax efficient savings and accumulation plan. 

16:21 - The 3 accounts we can funnel our money into and which investments we should ideally hold in each account. 

27:00 - What problems can arise later on from having most of your wealth tied up in pre tax accounts. 

33:18 - What are some other tax deductions we can create beyond putting money into tax deferred accounts. 

37:46 - When it makes sense to sell a losing investment. 

45:48 - When it would make sense for an individual to do a Roth Conversion. 

52:26 - The order of how we should take distributions in the most tax optimal way. 

And much, much more! 

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

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