Phil's Tax Hacks
Financial, tax and retirement planning guidance from Phil Putney. Each week Phil will talk about the keys to building a sound financial strategy that can survive throughout the ups and downs of the market. We'll have plenty of tax hacks along the way and other retirement facts!
Episodes
7 days ago
Steering Clear of Retirement Stress
7 days ago
7 days ago
Retirement is often painted as a serene, stress-free period of life where the worries of the working world fade away. However, psychologists have determined that retirement is one of the most stressful events that some people will experience in life. In this episode, we’ll look at the ways to proactively deal with the stress surrounding the retirement process.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:02 – The major lifestyle changes that come with retirement
3:34 – Embracing new challenges
6:16 – Keeping your options open
9:16 – Keeping your sense of perspective
12:08 – Finding a good financial advisor
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Thursday Apr 11, 2024
Is Retiring at 65 Crazy?
Thursday Apr 11, 2024
Thursday Apr 11, 2024
Is retiring at 65 crazy? One billionaire thinks so. In this episode, Phil and Marc unpack a recent Yahoo Finance article where BlackRock CEO Larry Fink challenges the conventional notion of retiring at 65 and encourages investors to consider delaying retirement.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:46 – The current state of Social Security
5:02 – The shift to self-funded retirement plans
7:44 – Early retirement planning and saving
10:37 – Increased life expectancy in retirement planning
12:53 – Getting a personalized plan for you
Yahoo Finance Article: https://finance.yahoo.com/news/billionaire-calls-retirement-age-65-111627794.html
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Thursday Apr 04, 2024
Tax Mistakes to AVOID in 2024 (Part 2)
Thursday Apr 04, 2024
Thursday Apr 04, 2024
It’s that time of year! With tax season right around the corner, it’s the perfect time to dive into some tax tips on the podcast. Tune into this two-part series where we dive into a fidelity article titled “8 Tax Pitfalls to Avoid,” and get Phil’s thoughts as a CPA.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:15 – Waiting too long to strategize
4:08 – Engaging in wash sales
8:15 – Not taking advantage of tax breaks
9:45 – Forgetting deadlines
Fidelity Article:
https://www.fidelity.com/learning-center/personal-finance/tax-pitfalls?ccsource=email_monthly&mbox3rdPartyId=&mboxConvType=VPEmailClick&mboxCID=VM0224&pixelType=vpm&sfip=&sfCampaignId=16797&sfCellCode=169
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Thursday Mar 28, 2024
Tax Mistakes to AVOID in 2024 (Part 1)
Thursday Mar 28, 2024
Thursday Mar 28, 2024
It’s that time of year! With tax season right around the corner, it’s the perfect time to dive into some tax tips on the podcast. Tune into this two-part series where we dive into a fidelity article titled “8 Tax Pitfalls to Avoid,” and get Phil’s thoughts as a CPA.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:43 – Missing investment income
3:30 – Selling too soon
5:33 – Poor record-keeping
7:56 – Forgetting losses
Fidelity Article:
https://www.fidelity.com/learning-center/personal-finance/tax-pitfalls?ccsource=email_monthly&mbox3rdPartyId=&mboxConvType=VPEmailClick&mboxCID=VM0224&pixelType=vpm&sfip=&sfCampaignId=16797&sfCellCode=169
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Thursday Mar 21, 2024
Finance Fortress: Practical Strategies for Retirees Against Scams & Fraud
Thursday Mar 21, 2024
Thursday Mar 21, 2024
Just like any other threat, learning to recognize and avoid scams has become crucial for today's retirees. Join us as we discuss essential steps you can take to protect yourself against the increasing prevalence of scams and identity theft. Phil will offer real-life stories and practical advice to help you keep your finances safe in today’s digital age.
Here’s some of what we discuss in this episode:
1:35 – Real stories of financial scams
5:43 – Phishing, vishing, and smishing
8:20 – Examples of different scams
11:54 – Recognizing the signs of a scam
15:19 – Protections you can put in place to avoid being a victim of a scam
Resources for this episode:
CNBC article:
https://www.cnbc.com/2023/10/08/how-one-retired-woman-lost-her-life-savings-in-a-common-elder-fraud-scheme.html
Thomson Reuters article:
https://www.thomsonreuters.com/en-us/posts/investigation-fraud-and-risk/senior-citizens-financial-scams/
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Thursday Mar 14, 2024
Understanding Annuities: The Good, Bad & Ugly
Thursday Mar 14, 2024
Thursday Mar 14, 2024
You’ve probably heard some mixed opinions on annuities in your lifetime. But before you get swayed one way or another, it’s important to understand what exactly an annuity is and how they work. Listen in as Phil breaks down the difference between immediate and deferred annuities and offers insights into their benefits and drawbacks.
Here’s some of what we discuss in this episode:
1:08 – What is an annuity?
10:04 – When might an annuity be appropriate?
13:20 – The misunderstood features of annuities
18:31 – Working with a fiduciary that has your best interest in mind
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Thursday Mar 07, 2024
The Retiree Dilemma: To Sell Or To Rent?
Thursday Mar 07, 2024
Thursday Mar 07, 2024
Many retirees find themselves at a crossroads when deciding what to do with their existing property as they move into their dream home. Would it be best to sell, or should you consider becoming a landlord? Drawing from personal experiences and real client scenarios, Phil and Marc will explore the pros and cons of turning a home into a rental property in this episode.
Here’s some of what we discuss in this episode:
1:50 – Pros and cons of renting out a property in retirement
4:39 – Managing rental properties and dealing with tenants
9:41 – Understanding the potential downsides of rental properties
11:55 – What’s the right option for you?
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Thursday Feb 29, 2024
Retirement Planning Fear, Procrastination, and Indecision
Thursday Feb 29, 2024
Thursday Feb 29, 2024
Navigating financial decisions, especially as retirement approaches, can be a challenging terrain for many investors. Whether it's the anxiety around making the right choices or grappling with an overload of information, it can be tempting to push off important retirement planning conversations. It's a familiar scenario – putting things off to "next week," only to find that "next week" turns into a long period of indecision.
Here’s some of what we discuss in this episode:
1:31 – Struggling with paralysis analysis
2:58 – Procrastinating
4:40 – Information overload
7:32 – Is there a better option for you?
8:59 – Phil’s new book, “The Retirement Trifecta”
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Thursday Feb 22, 2024
Retirement Planning Is Harder Than It Used To Be (Part 2)
Thursday Feb 22, 2024
Thursday Feb 22, 2024
Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning.
Here’s some of what we discuss in part 2:
1:25 – Lower healthcare costs
5:31 – Fewer sandwich generation challenges
7:36 – Shorter life expectancies
9:41 – More contributors to Social Security
17:48 – Easier to achieve financial literacy
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Thursday Feb 15, 2024
Retirement Planning Is Harder Than It Used To Be (Part 1)
Thursday Feb 15, 2024
Thursday Feb 15, 2024
Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning.
Here’s some of what we discuss in this episode:
2:03 – Job Stability & Company Loyalty
4:33 – Less Reliance on Personal Savings
9:55 – Housing Market Stability
12:08 – Simpler Investment Landscape
15:34 – Higher Interest Rates
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts