Phil's Tax Hacks Phil Putney

In the complex world of retirement planning, there are countless pitfalls one could fall into. In this episode, we've distilled it down to what we believe are the top 10 mistakes to watch out for. In part one of this two-part episode, we’re going to discuss the first 5 money mistakes that Phil often sees in retirement planning.
 
Here are some of the things we’ll address in this episode:
2:30 – Ignoring future tax implications of your retirement savings
5:51 – Starting Social Security too early
9:59 – Focusing on returns instead of income
12:01 – Being too aggressive or conservative
16:02 – Taking investing advice from family or friends
 
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Are you ready to take control of your finances during life's most pivotal moments? In this episode, we dive into the complex world of financial decision-making during key life events. From the excitement of getting remarried or entering retirement to the challenges of divorce and the loss of a loved one, we'll provide practical tips and guidance to help you make informed decisions and maintain financial stability.
 
Here are some of the things we’ll address in this episode:
1:21 – Financial decisions during remarriage
4:13 – Financial decisions during divorce
7:43 – Financial decisions during job changes
10:37 – Planning for retirement
12:31 – Severe medical issues and disabilities
18:13 – Financial decisions during the loss of a loved one
 
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

In today’s episode, we’re going to focus on the three categories that many clients fall into when starting their retirement planning journey: The unsure, the confident, and the certain. Whether you have no idea if you can retire or if you’re positive that you have sufficient funds to retire, we’ll cover some critical areas of retirement planning that you need to pay attention to.
 
Here are some of the things we’ll address in this episode:
1:10 – The “I have no idea if I can retire” client
5:24 – The “I think I have enough money” client
7:25 – What is a reasonable rate of return?
11:33 – The “I know I have enough money to retire” client
 
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Today, we'll be discussing some challenges of moving amidst the current climate, particularly for pre-retirees and retirees. We recently came across a Vanguard article that proposes a way to potentially add $100,000 to one's retirement savings by selling and relocating to a different state. Is this a feasible strategy? We’ll answer that question and more about relocating in this episode.
 
Here are some of the things we’ll address in this episode:
1:06 – Some things to think about if you’re considering moving in the current economy.
4:31 – Understanding the pros and cons of the real estate market you’re in right now compared to where you are moving.
8:48 – The importance of looking at the bigger picture when making the decision to move.
12:01 – The challenges of moving right now.
 
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
 
 

Have you ever wondered why you handle money the way you do? It turns out your financial behaviors can be traced back to your formative memories. In this episode, we examine how significant market crashes of the past might be impacting your current money management habits.
 
Here are some of the things we’ll address in this episode:
1:32 – The ripple effects of the Great Depression
3:29 – Soaring interest rates
8:21 – Black Monday to the Dotcom bubble
16:15 – The impact of the Great Recession
18:57 – The quick downturn of the pandemic

22:03 – Finding balance in your investment strategy

 
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
 

We’re back for part two of this two-part series! In episode one, we debunked the first five common Social Security misconceptions and set the record straight. Today, we'll take on the next five myths that have been causing confusion and misinformation about Social Security.
 
Here are some of the things we’ll address in this episode:
1:28  – Can I work and still receive Social Security benefits?
5:09 – You don’t have to be a U.S. citizen to receive benefits.
6:35 – If I have a pension, will I not be eligible for Social Security?
8:37 – Social Security is not based on your total assets.
10:20 – Social Security benefits are based on your highest 35 years of earnings.
If you have any questions about what we discussed in this episode, reach out and we'll be happy to set up a time to talk.
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts