780-How Should You Prioritize Tax Costs in Your Decisions?
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 14 April 2021
⏱️ 53 minutes
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| 0:00.0 | Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge |
| 0:03.7 | skills, insight and encouragement you need to live a rich and meaningful life now, while |
| 0:08.0 | building a plan for financial freedom in 10 years or less. |
| 0:10.9 | My name is Joshua Sheets, I am your host. |
| 0:12.8 | Today, we're going to talk about taxes as we continue our tax series here at Radical |
| 0:16.6 | Personal Finance by specifically focusing on this question. |
| 0:20.7 | How should you prioritize taxes, cost of taxes, your tax savings in your personal decisions? |
| 0:29.4 | Should it be your number one factor? |
| 0:31.4 | This is the thing. |
| 0:32.4 | I'm going to move to Florida because I don't have any state income taxes or I'm going |
| 0:35.8 | to move to the Bahamas so I don't have to pay any income taxes. |
| 0:39.5 | Should it be in the middle? |
| 0:40.5 | Okay, this is nice to have or should it be at the bottom? |
| 0:43.0 | This is just something that doesn't matter whatsoever. |
| 0:45.2 | I'm going to talk about that and I'm going to tell you not the answer because of course |
| 0:50.0 | I can't deliver on the actual answer. |
| 0:52.9 | But what I'm going to give is I'm going to give you a model that you can use to think about |
| 0:57.6 | your own situation because here's my answer. |
| 1:00.8 | How should you prioritize taxes? |
| 1:02.7 | Well, you should simply make an examined decision. |
| 1:06.5 | This is one of those things where you and I could come to the same set of decisions and |
| 1:12.4 | walk away making completely different choices because of our personal factors, things that |
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