Stop Living Your Life by the Tax Code: Shootin' It Straight with Stan


Manage episode 342452801 series 2798004
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In this episode, The Annuity Man discussed:

  • The good and the bad of taxes
  • Skating behind the puck with taxes
  • Does inflation really affect you?
  • Choosing simple solutions for retirement

Key Takeaways:

  • It’s important to pay your taxes. Your money goes into good things like infrastructure, security and other things. However, it does get a little predatory, politicians play games with it, and you don’t know when the rules are going to change.
  • None of us know what’s going to happen with tax policy in the future. So why would you plan around it? It’s like skating behind the puck when you should be skating where the puck is going to be. You can’t do that with the IRS.
  • If you have millions and millions of dollars but you’re talking about how inflation affects you, then you’re just parroting what the media says. You’re not really being honest with yourself if inflation does affect your life or not.
  • Don’t let the taxman live in your head for free. If you’ve won the game, then the solution for your retirement is very simple. Don’t complicate your plans because of taxes.

"Stop living your life by the tax code, stop doing financial planning by the tax code, stop it. Go live your life. You're driving yourself crazy." — Stan the Annuity Man

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