The Guru Gap
How America’s Financial Gurus Are Leading You Astray, and How to Get Back on Track
by David McKnight
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Pub Date Dec 10 2024 | Archive Date Oct 31 2024
BenBella Books | Matt Holt
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Description
Gurus like Dave Ramsey, Suze Orman, and others have amassed followers by the millions because of their paint-by-the-numbers financial strategies that are easy to digest and implement. And while they have helped many Americans eliminate debt and take their first steps toward financial freedom, their dumbed-down financial advice is inadequate and incomplete for those looking to maximize their savings.
In fact, disciplined investors who have saved well and played by the rules risk losing hundreds of thousands of dollars over the course of their retirement journey by heeding this outdated, one-size-fits-all advice.
In The Guru Gap, David McKnight, bestselling author of The Power of Zero, closes the gap between what mainstream media personalities advise and the sophisticated, math-based approach your retirement plan requires. This strategy includes:
- The most cost-efficient way to ensure you never outlive your money
- A step-by-step plan to shield your savings from the threat of future tax increases
- Insight on how to shield yourself from the risks that threaten to derail your retirement plan
This book is your guide to understanding the shortfalls of guru-based retirement strategies so you can bridge the advice gap that stands between you and a sustainable financial future.
Advance Praise
“David McKnight helps you distinguish between the one-size-fits-all, opinion-based advice you often get from financial gurus and the proven, fact-based strategy you’ll need to make your money last.”
—Tom Hegna, Author, Paychecks and Playchecks
Available Editions
| EDITION | Hardcover |
| ISBN | 9781637746622 |
| PRICE | $20.00 (USD) |
| PAGES | 176 |
Available on NetGalley
Featured Reviews
Jaidee D, Reviewer
4"clear, cogent, concise" stars !!
Thank you to Netgalley, the author and BenBella books for providing me with an ebook. I am providing an honest review. This will be released December 2024.
Please read my review with a grain of salt as this is geared to American Retirement planning and I am Canadian. Despite this, I gobbled this little book in one evening as some of the principles are applicable to Canadian situations despite having different retirement accounts and rules.
This will be most helpful to middle class and upper middle class American investors who take a hands on approach to their retirement planning. This is for people who know their stuff and diligently are planning for a safe and comfortable retirement.
The author goes through some of the difficulties he has with Ramsay, Orman, Fisher, Sethi etc and how he finds that although they may be helpful to those people that are seriously struggling with their finances that for the more established and level headed investors their advice is simply folksy and not based on facts and math. Personally I find these gurus to be entertaining but rigid, pompous and a bit ridiculous or in the case Orman extremely ridiculous.
The author strongly believes in greatly increased taxation in the near future as the level of American government debt is unsustainable and many programs are at risk (ie Social Security, Medicare etc)
The author advocates for Roth conversions (and a wise method for doing so), insurance products for some annuities and other strategies. I found the case studies very interesting. He backs up his strategies with clear rationales. Conversational approach to prose kept this reader engaged and interested.
