{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2F913d7ee2-e2c4-4314-b99b-1158e80d595b","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"<iframe style=\"width: 100%; height: 200px;\" title=\"In the Grips of the Wall Street Mindset\" frameborder=\"0\" scrolling=\"no\" allow=\"clipboard-write\" seamless src=\"http://player.captivate.fm/episode/913d7ee2-e2c4-4314-b99b-1158e80d595b\"></iframe>","title":"In the Grips of the Wall Street Mindset","description":"The truth is, Wall Street needs you to live your financial life according to their rules.\r\n\r\n\r\nYou won\u2019t find the \u201cWall Street mindset\u201d as a term in a Webster\u2019s dictionary. Rather, it is a collection of idea\u2019s that we as consumers have been told so many times we accept them as truth.\r\n\r\n\r\nIn this episode, we will challenge your brain to think differently.\r\n\r\n\r\nHave you ever heard of \u201cThe Revenue Act of 1978\u201d that our government created? Do you have a qualified plan (401k, IRA, SEP, etc.)? If so, you are partaking in their brilliant act to generate future tax revenue.\r\n\r\n\r\nThe hype around qualified plans is that you:\r\n\r\n    1. Get to write off deductions today\r\n    2. Will defer the tax of the contributions to another date (when you access the funds)\r\n\r\n\r\nHave you ever heard this from your financial advisor?\r\n\r\nWall Street commonly teaches the idea of taxes being lower upon your retirement.\r\n\r\nLet\u2019s take a deeper look at why this may not be true with some basic tax write-offs you may not be able to take advantage of upon retirement age:\r\n\r\n    -Home mortgage interest (assuming your home is paid off)\r\n    -Children (assuming they are out of the house)\r\n    -Earned income credit\r\n    -Qualified plan contributions\r\n    -Business expenses (assuming you sold the business)\r\n\r\n\r\nOn top of these, you may eventually change your filing status to single causing the rates to skyrocket.\r\n\r\n\r\nWouldn\u2019t it make more sense to put our money in places that accrue wealth WITHOUT having to work for it? In places WITHOUT Wall Street?\r\n\r\n\r\nAlmost 10 years ago, the idea of \u201cthere being a better way\u201d hit us.\r\n\r\n\r\nLearn this and more in today\u2019s episode of The Wealth Without Wall Street Podcast.","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/a750c390-803b-46f4-b7c4-3e2ca5f6cadb/wealth-without-wall-street-podcast-artwork-2000.jpg"}