562: By the Numbers: Why Your Tax Refund Isn't What You Think
Retire With Purpose - The Retirement Podcast
Casey Weade
4.7 • 556 Ratings
🗓️ 1 May 2026
⏱️ 22 minutes
🧾️ Download transcript
Summary
Are you actually better off getting a tax refund, or is your brain tricking you into celebrating a financial loss?
Topics covered in this episode:
- Tax refunds vs. tax liability: what actually matters
- Behavioral biases (framing, loss aversion, anchoring, etc.)
- Strategic tax planning vs. emotional decision-making
- Real-world examples from retirees and working families
- How to align tax strategy with long-term financial goals
Today's article is from Best Interest blog titled We Are So Irrational (Literally) About Taxes. Listen in as Founder and CEO of Howard Bailey Financial, Casey Weade, breaks down the article and provides thoughtful insights and advice on how it applies to your unique financial situation.
Show Notes: HowardBailey.com/562
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ABOUT HOWARD BAILEY FINANCIAL: Our mission is to help others gain clarity in purpose and elevate meaning in their lives through personal and practical financial strategies. Our Retire With Purpose™ Framework starts with establishing your unique financial philosophy — the true meaning and purpose for your money in retirement. Through continued education, one-on-one meetings, and a comprehensive team planning approach, we have helped retirees across the country secure their financial futures. And while we can't work with everyone, our goal is to provide value to everyone we meet. Our team of advisors and support specialists strive to deliver the very best experience in pre-retirement and retirement planning. Learn more about our process here: https://howardbailey.com/our-process
Transcript
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| 0:00.0 | It's tax season, which means millions of people are about to celebrate something that actually |
| 0:05.2 | cost them money, and most don't even realize it. Today, we're unpacking why your brain, |
| 0:10.9 | not the IRS, might be the real problem. |
| 0:37.6 | Hey, this is Casey. Welcome to the show where it is my mission to deliver clarity and purpose and elevate meaning in your life. And we do that by bringing you both financial and non-financial related conversations weekend and week out. If you're looking for those non-financial based conversations, look for those episodes titled Freedom After 50. If you're looking for those non-financial-based conversations, |
| 0:43.0 | look for those episodes titled Freedom After 50. If you're looking for more of the numbers-based conversations, that's going to be one of these that you're covering with us today. Just look for those |
| 0:47.0 | by the numbers episodes. And of course, we're bringing you some world-class guests weekend |
| 0:51.5 | and week out as well. We've got some really cool things in store |
| 0:55.4 | in the podcast. So make sure that you're continuing to listen to these episodes that we're |
| 1:00.8 | going to be releasing, especially on Fridays. There's dropping a little hint at you there. |
| 1:04.7 | So these Friday episodes, though, they're often based around something that we included in our |
| 1:09.1 | weekend reading for retirees email. That email hit your inbox every single Friday. We include four articles. You know, I'm going out, |
| 1:15.5 | I'm reading articles, and I said, you know what, I want to put these in front of you so that you can |
| 1:19.3 | know what I'm reading, along with summaries, takeaways for myself, all kinds of other great |
| 1:23.1 | giveaways. You can get yourself signed up to receive that email every Friday and also get a free digital copy of job optional right now by texting us the key letters, WR to 888-59-499 or just check out a link in the show notes. |
| 1:38.9 | Today I am joined by my good friend, fellow certified financial planner practitioner, Marshall Johnson. |
| 1:44.1 | Hey, hey. As we are covering an article from one of our friends, one of our besties, you might say, here on the Retireth Purpose podcast. |
| 1:54.2 | Jesse Kramer, you probably recognize that name, especially if you're a subscriber to Weekend Reading. |
| 1:58.1 | We include a lot of his content in our weekend reading. |
| 2:00.7 | Jesse reached out to me not long ago as a subscriber and said, I saw that you've been putting my |
| 2:05.6 | articles in there. Thanks. We should talk. So we had him come on the show not long ago. And we |
| 2:10.5 | continue to share his content because he does a fantastic job over on his blog, the best interest |
| 2:17.3 | blog. And there's an article that we came |
... |
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