Journey to Ed Slott Elite Advisor Group Training: Tom & I Becoming Elite IRA Experts


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Continuous Learning: The Ed Slott Elite Advisor Group Experience

Where do Tom and I get our financial expertise? Welcome to the world of Ed Slott Elite Advisor Group. Twice a year, we fly to a remote location, submerge ourselves in the realm of financial planning, taxation and retirement strategies in hotel meeting rooms, and learn from Ed Slott and his team of experts. I’ve attended over 20 meetings in the past decade, while Tom has joined me for the last few years.

The Why: Securing Your Financial Future

Why make a video about this? Because many of you have a substantial amount of money in IRAs and 401Ks but lack a solid plan for these funds. You’ve mapped out when you’ll retire, when you’ll start receiving Social Security, but not how you’ll manage your largest untaxed asset – your IRA. We’re creating this video to help you understand why we invest in such extensive training and how it directly benefits you.

Show Notes and Key Focus Areas

Our training session always covers a variety of topics. We revisit some key areas, delve into new issues, and learn about current regulatory changes. The show notes, available on our website and below the video, highlight the primary focus of each session.

Why This Matters To Us (And You)

Tom and I wouldn’t invest significant resources into attending these sessions if they didn’t have a substantial impact. The Ed Slott Organization provides us with insights that are invaluable to you, whether you hire us as financial planners or learn from our videos. Much of our advice and strategies derive from the teachings of Ed Slott, who is a recovering CPA and America’s IRA expert.

Understanding The Tax Bomb

A significant amount of America’s wealth is tied up in IRAs and 401Ks, and many of you might have substantial funds in these accounts. What’s unique about these assets is that they’re untaxed unless they’re Roth accounts. As you approach retirement, you’ll need a plan. If you allow your funds to grow without a proper strategy, you could be setting a tax bomb for yourself or your heirs.

Learning From Ed Slott: Avoiding The Tax Bomb

At Ed Slott’s training sessions, we’re continually learning strategies to help you plan your retirement better and avoid potential tax bombs. We learn about IRS tax law changes, private letter rulings, tax court cases, and various strategies that can be beneficial in planning your retirement.

The Secure Act 2.0: Making Retirement More Secure

One significant point of discussion during our recent training was the Secure Act 2.0, which revised the original Secure Act. The Act was intended to make retirement more secure, but it also reduced the timeframe within which beneficiaries had to distribute IRAs. The revised Act has moved the Required Minimum Distribution (RMD) age to 73 or 75, depending on your current age.

Achieving A Tax-Free Retirement

A significant highlight of our latest training was a talk by David McKnight, author of The Power of Zero. His book proposes the idea of living a tax-free retirement using Roth IRAs and life insurance, enabling you to avoid taxes on your Social Security.

The Impact On Our Practice

Attending the Ed Slott Elite Advisor Group training sessions has dramatically impacted our practice. We’re not just financial advisors – we’re tax planning experts who can provide intelligent, informed advice to our clients based on our extensive training. The knowledge we gain from these sessions forms the foundation of the recommendations we make to our clients.

Ed Slott IRA 401k Tax Strategy Training

Join Tom and me as we delve into the world of financial training, focusing on our experiences as members of the Ed Slott Elite Advisor Group. For over a decade, we have attended these impactful meetings twice a year to enhance our understanding of financial planning, retirement strategies, and changes in tax laws. In this video, we discuss our recent April session, covering topics such as IRA planning, the Secure Act 2.0, and the importance of avoiding a potential tax bomb for your beneficiaries. We underscore the vital role these meetings play in our practice, enabling us to offer sophisticated, informed advice to our clients. Discover how our commitment to ongoing education can support your financial goals.

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Contact us today with any questions, concerns, or just to stay connected.

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