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
Wednesday Nov 25, 2020
Wednesday Nov 25, 2020
How do you pick the right advisor? Often we get caught up in finding the right investments and making sure the portfolio is balanced. But what about finding the right person to help you facilitate that plan?
Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-64-finding-the-right-advisor/
Watch the video podcast here: https://youtu.be/qLffTFZSlm0
What we discuss on this show:
1:25 - How do you pick the right advisor?
2:30 - What’s your expectation for the advisor?
3:47 - What kind of credentials should the advisor have?
5:37 - How do you know if it’s time to find a new advisor?
10:58 - What could go wrong if we stay with the wrong advisor?
12:14 - How do you feel about it?
13:42 - What should you consider in the interview process?
18:47 - What are Phil’s Thanksgiving favorites?
Thursday Nov 19, 2020
Thursday Nov 19, 2020
We’ve all heard the saying, “the customer is always right”, but are they? When it comes to financial planning, you are going to see an advisor to hear their guidance and wisdom. So, if there’s a disagreement, are you right or are they? That's what we'll talk about on today's show.
Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-63-dont-assume-the-customer-is-always-right/
Watch the video podcast here: https://youtu.be/ZcCIc3MYb58
What we discuss on this show:
1:45 - Would you have the same response with your doctor?
2:28 - Is now the time to get out or in the market?
5:06 - How do you pick what to be invested in?
7:53 - I don’t need/want that.
10:31 - What happens when the client gets impatient or the market is down?
13:59 - Are you aligned with your financial advisor
Thursday Nov 12, 2020
Thursday Nov 12, 2020
Is your portfolio diversified? Should it be? What does true diversification look like? We’ll tell you on this episode.
Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-62-is-diversification-just-for-suckers/
Watch the video podcast: https://youtu.be/69LkNzJHE3w
What we discuss on this show:
2:00 - Is diversification for suckers?
2:50 - How does the average person define diversification?
5:14 - How does Phil describe diversification?
8:06 - How much should your portfolio be diversified?
9:13 - Can you be too diversified?
11:56 - What does a conversation about diversification look like?
Thursday Nov 05, 2020
Thursday Nov 05, 2020
How do you know if you’re ready for retirement? Whether you plan to retire soon or years from now, taking this quiz will help you understand what you need to do to prepare.
Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-61-would-you-pass-this-retirement-preparedness-quiz/
Watch the video podcast: https://youtu.be/VSs7liueo0o
What we discuss on this show:
0:21 - Ready to take the quiz?
2:21 - Do you know how much you have?
5:35 - Do you know how much you spend?
7:37 - What is your risk?
9:59 - Do you know what you’re paying in fees?
11:46 - What are your retirement income streams?
Thursday Oct 29, 2020
Thursday Oct 29, 2020
Many of us have a 401(k), but how much do you really know about it? What frequently asked questions does Phil get when it comes to investing wisely?
Read more and get additional resources here: https://philstaxhacks.com/podcast/ep-60-answering-your-401k-faqs/
Watch the video podcast: https://youtu.be/E5LyPiJcQW8
What we discuss on this show:
1:44 - What frequently asked questions does Phil hear about 401(k)s?
2:08 - Should you take the free advice offered through your employer’s plan?
3:43 - Are 401(k) loans good or bad?
5:41 - When does a 401(k) rollover make sense?
8:14 - Should you use target date funds?
10:50 - What should your contribution amount be?
11:52 - Which is better, the traditional or Roth?
Thursday Oct 22, 2020
Thursday Oct 22, 2020
Whenever you have questions or concerns about your financial situation, you should reach out to a financial advisor. Today we’re going to answer several questions from listeners to hear what Phil has to say regarding everything from a long-term care policy to tax refunds.
Read more and get additional financial resources here: https://philstaxhacks.com/podcast/484/
Watch the video podcast: https://www.youtube.com/watch?v=xNd5iEw5tkY&feature=youtu.be
What we discuss on this show:
0:31 - Ever fight with technology?
1:45 - Mailbag: Should I share my inheritance with my adult son?
3:31 - Mailbag: Can I really get half of my ex-husband’s Social Security?
7:14 - Mailbag: Are these 401(k) estimates reliable?
9:33 - Mailbag: Do I have enough coverage in my long-term care policy?
11:32 - Mailbag: Should I move my investments to cash?
14:55 - Mailbag: Is a big tax refund good?
Thursday Oct 15, 2020
Thursday Oct 15, 2020
Are you understanding all of the options when it comes to Social Security? Or do you feel like retirement and Social Security always coincide? Today we take a look at this important piece of retirement income.
Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-58-reframing-the-social-security-conversation/
Watch the video podcast here: https://youtu.be/C_LugOpTQck
What we discuss on this show:
0:36 - Let’s reframe your Social Security decision.
3:25 - How much money can you get from Social Security?
5:27 - It’s hard to predict your life expectancy.
7:00 - Are you still working?
9:59 - What are the taxes?
10:58 - What assets should you use first?
Thursday Oct 08, 2020
Thursday Oct 08, 2020
Whether you are less than a decade away from retirement or at the beginning of your career, it’s important to have a saving mindset. How can you make sure you are retirement ready?
Read more and get additional financial resources: https://philstaxhacks.com/podcast/ep-57-retirement-ready-or-not/
Watch the video podcast: https://youtu.be/7sF9WLpknd0
What we discuss on this show:
0:25 - What’s one of the latest coronavirus-related hot ticket items?
1:24 - What can younger clients keep in mind when saving for retirement?
3:15 - Most of us don’t have a good savings mindset.
7:26 - We have to pay our future selves.
10:54 - Ramp up the discipline.
Thursday Oct 01, 2020
Thursday Oct 01, 2020
From the global bond market to living benefits, there are several important financial concepts you might not yet know about. Today’s episode will cover four things you should know when it comes to finances.
Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-56-financial-stuff-you-should-know/
Watch the video podcast here: https://youtu.be/evWGvRxgA_g
What we discuss on this show:
0:27 - The market is currently back up.
1:20 - The global bond market is way bigger than people realize.
4:09 - Tax rates are very low right now.
5:17 - Living benefits could help provide for long-term care.
7:06 - The biggest impediment to our finances is our own emotion.
Thursday Sep 24, 2020
Thursday Sep 24, 2020
Ever wish you knew then what you know now? That’s especially true in the year 2020. We discuss areas where hindsight could help and what to do about those financial decisions today.
Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-55-hindsight-is-20-20-in-financial-planning/
Watch the video podcast: https://youtu.be/qefGxAbekjs
What we discuss on this show:
0:34 - What does fall fashion look like for Phil and Marc?
1:35 - Do you wish you had done things differently with your finances?
1:54 - As the election approaches, what should you keep in mind?
3:31 - Should you make some big financial moves now?
5:15 - How much risk are you exposed to?
6:31 - Do you know your options with Social Security?
9:45 - Should you be taking advantage of the Roth?
11:30 - Are you regretting retiring too early?