Phil's Tax Hacks Phil Putney

With the volatility in the market many of us are looking to start working with an advisor. What should we keep an eye out for when shopping around for an advisor? What red flags do we need to be aware of?

 

Watch the video podcast: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA

 

Key points: 

2:09 – Spotting red flags

2:44 – Works with everyone

6:25 – Good news and certainty

10:35 – Too much jargon

15:02 – More talking than listening

 

Read more and get additional financial resources here: http://philstaxhacks.com 

Do you take a lot of risk or are you a conservative investor? On today’s episode, we’ll explore why risk tolerance matters and how understanding our own risk tolerance level can protect our assets and future.

 

Watch the video podcast: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA

 

Key points: 

0:25 – The current stock market

2:20 – Increasing inflation and retirement

3:56 – Do most people know their risk tolerance level?

5:31 – Are we panicking too much?

8:00 – How often does risk match their portfolio?

11:30 – Should we adjust our risk level now?

13:11 – Bucket strategy to mitigate risk

14:53 – Taking unnecessary amounts of risk

17:49 – Adjusting your risk strategy in retirement

20:40 – Can you reduce risk without giving up growth?  

 

Read more and get additional financial resources here: http://philstaxhacks.com 

Let’s continue our conversation on financial debates today. From deferring taxes to using credit cards, what is your opinion on these common financial debates?

 

Watch the video podcast: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA

 

Key points: 

2:45 – Defer or don’t defer taxes

10:24 – You should never use credit cards

15:53 – Mutual funds or individual stocks

25:03 – Start Social Security as soon as possible

28:31 – Can you DIY retirement planning?

 

Read more and get additional financial resources here: http://philstaxhacks.com 

Should you pay the house off before retirement? Do you need to keep your life insurance once retired? Do annuities deserve their bad reputation? On today’s episode, we’ll break down some famous financial debates and how each side approaches these topics. Who do you agree with?

 

Watch the video podcast: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA

 

Key points: 

1:05 – To pay off the house or to not pay off

7:50 - Individual bonds vs. bond funds

11:18 – Nobody needs life insurance after retirement

17:47 – Annuities are a rip-off

25:08 – Fee-based advisor vs. commissioned broker

 

Read more and get additional financial resources here: http://philstaxhacks.com 

We are breaking down some retirement statistics on today’s episode. Are these numbers encouraging or discouraging?

 

Watch the video podcast: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA

 

Key points: 

1:29 – Women have less saved than men

7:00 - You need $1.04 million to retire

9:29 – 55% of workers plan to continue to work

10:47 - 25% of Americans increased their savings

13:46 – 70 million people are taking Social Security

 

Read more and get additional financial resources here: http://philstaxhacks.com 

So, what really is the secret to retirement success? While it may be harsh, the reality is we are often our own worst enemy when it comes to planning. On today’s episode, we are going to discuss how we, as investors, can get out of our own way in order to have a successful retirement.

 

Watch the video podcast: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA

 

Key points: 

1:09 – We aren’t being harsh

3:44 – Fear and greed

6:40 – Investing for taxes

9:55 – Too much cash

14:03 – Not doing anything

 

Read more and get additional financial resources here: http://philstaxhacks.com