774-The Shocking Truth of How Just a Tiny Bit of Tax Destroys the Compounding of Your Wealth (RE-DO TO CORRECT A SERIOUS MATH ERROR)
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 11 March 2021
⏱️ 18 minutes
🧾️ Download transcript
Summary
The Magic Penny is the best-performing investment asset any of us could dream of having. Today I'll show you how just a little bit of tax totally decimates its results!
Save 50% with code CHANGINGPLATFORMS only until March 31. https://radicalpersonalfinance.com/store
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, |
| 0:04.0 | skills, insight, and encouragement you need to live a rich and meaningful life now while |
| 0:08.4 | building a plan for financial freedom in 10 years or less. |
| 0:11.4 | My name is Joshua Sheetz, I am your host and today we're going to talk about the unbelievable |
| 0:16.1 | impact of just a little bit of tax. |
| 0:19.4 | This is a redo of a show that I released earlier this week where I made a serious math mistake |
| 0:25.0 | in that show. |
| 0:26.0 | So if you already listened to that show, go ahead and listen to this one, you'll hear |
| 0:28.8 | me correct the math mistake in just a moment. |
| 0:31.3 | But in the United States, we're just getting into what we usually consider to be tax season, |
| 0:35.0 | right? |
| 0:36.0 | April 15th, the well-known day that your taxes are due. |
| 0:39.9 | And as we come into this last month here before taxes are due, I want to share with you |
| 0:44.2 | a series, kind of a mini series of tax planning shows where we'll go over some specific |
| 0:48.7 | ideas to help you save on tax and some of these ideas are going to be new ideas that I haven't |
| 0:54.8 | really talked about in the history of radical personal finance. |
| 0:58.0 | Not the annals of radical personal finance, you'll find lots and lots of shows on tax |
| 1:02.0 | planning. |
| 1:03.0 | We've done year end tax planning, we've done big picture tax planning, we've talked |
| 1:06.0 | about tax-advanted accounts, we've talked about businesses and business deductions. |
| 1:10.4 | But I want to present to you a couple of ideas that I haven't really discussed in detail |
| 1:15.1 | throughout the history of radical personal finance in this series. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

