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!
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Episodes
Thursday Apr 14, 2022
Thursday Apr 14, 2022
Let’s talk about the house today! We are going to explore some common retiree questions we get about housing. Should you downsize? Should you use equity as an emergency fund? Find out on today's show.
TIMESTAMPS:
0:44 – Do we get questions about housing?
1:41 – Should you pay off the house?
4:49 – Should you downsize?
8:17 – Should you pull out equity?
11:10 – Signing the house over to the kids
13:42 – Is a reverse mortgage a good idea?
ADDITIONAL INFORMATION: https://philstaxhacks.com/
Thursday Apr 07, 2022
Thursday Apr 07, 2022
Let’s continue our conversation on financial jargon today. We’ll dive into the different designations and licenses you may see when shopping around for a financial advisor. What do they all mean?
TIMESTAMPS:
0:52 – Having proper qualifications
2:22 – RIA or IAR
3:35 – The C’s
5:35 – Series license
11:49 – Education
15:30 – Do your homework
ADDITIONAL INFORMATION: https://philstaxhacks.com/
Thursday Mar 31, 2022
Thursday Mar 31, 2022
There is a lot of financial jargon out there that can be confusing when you are trying to plan for retirement. So, on today’s episode, we’ll explore a variety of different terms and definitions and how they apply to the financial planning process.
TIMESTAMPS:
0:41 – We don’t lack jargon
1:28 – Bear or bull
4:02 – Inflation
6:50 – Recession
10:42 – Volatility
12:09 – Risk tolerance
14:31 – 60-40 portfolio
15:58 – Dollar-cost averaging
17:46 – Bonds vs stocks
19:44 – ETFs vs mutual funds
22:00 – Target-date fund
ADDITIONAL INFORMATION: https://philstaxhacks.com/
Thursday Mar 24, 2022
Thursday Mar 24, 2022
When it comes to our money there are several ways, we tend to get greedy. So on today’s episode, we are going to discuss how to recognize the voice of greed and how we can fight against it.
TIMESTAMPS:
0:15 – Voice of greed
2:07 – Being aggressive
5:57 – Following what you hear
7:15 – Keeping up with the Joneses
10:05 – Emergency fund in the bank
12:48 – Doing it yourself
ADDITIONAL INFORMATION: https://philstaxhacks.com/
Thursday Mar 17, 2022
Thursday Mar 17, 2022
What could go wrong if you end up guessing when planning for retirement? Today, we explore some areas in retirement planning you don’t want to guess at.
TIMESTAMPS:
0:38 – Guessing in these times
2:44 – Inflation
8:56 – Income
13:10 – Big purchases
16:25 – Health care costs
ADDITIONAL INFORMATION: https://philstaxhacks.com/
Thursday Mar 10, 2022
Thursday Mar 10, 2022
What are most Americans confused about when it comes to retirement planning? On today's episode, we discuss 3 murky issues that may be making retirement planning harder for you.
USA Today Article: Retirement planning: These 3 issues are making it extra hard right now (usatoday.com)
TIMESTAMPS:
1:22 – USA Today Article
2:37 – Confused about income growth
8:14 – How much Social Security will provide
13:23 – Withdrawal rates are a mystery
16:29 – Simple approach or making a plan
ADDITIONAL INFORMATION: https://philstaxhacks.com/
Thursday Mar 03, 2022
Thursday Mar 03, 2022
The current state of the market and the rate of inflation may be making you nervous. How do we expect current events to impact your retirement plan and what can we do to protect our financial future?
TIMESTAMPS:
0:38 – It’s tax time!
1:01 – Russia’s impact on the market
3:36 – The energy conversation
4:48 – DOW has fallen 1,000 points
7:23 – Inflation is also overdue
12:20 – What defines a bear market?
13:52 – Having an emergency fund
16:17 – Is 2022 still hopeful?
18:03 – Is this hyperinflation?
ADDITIONAL INFORMATION: https://philstaxhacks.com/
Thursday Feb 24, 2022
Thursday Feb 24, 2022
The most important part of retirement planning is going to look different for everyone. On today’s show, we discuss some expert claims about the most important part of planning and whether Phil agrees or disagrees.
TIMESTAMPS:
1:00 – The most important part to you
2:14 – Deciding what to do with your time
3:57 – The best time to start saving is now
5:19 – How much income do you need?
6:53 – How much do you want to spend?
9:30 – Balancing risk and return
12:36 – Enjoying your retirement!
13:53 – Picking the right advisor
ADDITIONAL INFORMATION: https://philstaxhacks.com/
Thursday Feb 17, 2022
Thursday Feb 17, 2022
How do we incorporate our values into our financial plan? On today’s episode, we discuss some common values and how they fit into your overall retirement plan.
TIMESTAMPS:
0:25 – Happy Valentine’s Day!
1:44 – Family
2:46 – Faith
6:22 – Education
9:05 – Career
12:13 – Charitable giving
13:44 – Having fun!
ADDITIONAL INFORMATION: https://philstaxhacks.com/
Thursday Feb 10, 2022
Thursday Feb 10, 2022
You can’t predict a lot of things: how long you’ll live, the next market crash, healthcare costs, tax rates. But you still have to plan for these things. On today’s episode, we’ll explore how you should handle planning for the things you can't predict.
TIMESTAMPS:
2:01 – When will the next market crash be?
4:59 – What will healthcare costs be?
6:51 – What are tax rates going to look like?
9:51 – How long are you going to live?
ADDITIONAL INFORMATION: https://philstaxhacks.com/