238 episodes

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!

Phil's Tax Hacks Phil Putney

    • Business
    • 4.8 • 4 Ratings

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!

    Financial Fees - Getting to the Bottom Line

    Financial Fees - Getting to the Bottom Line

    When it comes to managing your finances and planning for retirement, one of the most dreaded topics is fees. Whether you're investing in mutual funds or working with a financial advisor, fees are an inevitable part of the process. In this episode, Phil takes a deep dive into the world of financial fees, breaking down their types and explaining their impact on your investments.
     
    Here’s some of what we discuss in this episode:
    0:00 – Intro
    1:12 – Investment vehicle fees and advisor fees
    3:05 – Considering net of fees
    5:34 – Advisor fees and the value they bring
    10:08 – Considering factors beyond fees
     
    For more, visit us online: http://philstaxhacks.com
    Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

    • 18 min
    It’s Time To Talk Crypto

    It’s Time To Talk Crypto

    Cryptocurrency has been a buzzword for over a decade, but what exactly is it? In today’s episode, Phil is here to answer your questions. Fresh from a conference focused on this digital frontier, he shares his insights on what crypto is, its underlying technology, and its potential place in your investment portfolio.
     
    Here’s some of what we discuss in this episode:
    0:00 – Intro
    1:55 – What is cryptocurrency?
    7:01 – How has cryptocurrency gained legitimacy
    10:58 – Should you own cryptocurrency?
     
    For more, visit us online: http://philstaxhacks.com
    Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

    • 19 min
    All In One Basket? The Risks of Sector Investing

    All In One Basket? The Risks of Sector Investing

    We know you shouldn’t put all your money into a single stock. But what about putting a lot of it into a strong market sector, diversified among different companies? Would it ever make sense to do that? In today’s episode of Phil’s Tax Hacks, we’re answering that question.
     
    Here’s some of what we discuss in this episode:
    0:00 – Intro
    1:11 – The reality of sectors
    3:40 – The importance of a financial plan
    6:42 – Working with multiple advisors
     
    For more, visit us online: http://philstaxhacks.com
    Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

    • 14 min
    The IRS Gave Us A Gift (Or Did They?)

    The IRS Gave Us A Gift (Or Did They?)

    In today’s episode, we’re going to discuss the ongoing confusion surrounding inherited IRAs and Required Minimum Distributions (RMDs). The SECURE Act introduced a 10-year rule for withdrawing inherited IRA funds, replacing the old stretch IRA rules that allowed beneficiaries to spread distributions over their lifetime. However, the IRS has yet to finalize the regulations on whether beneficiaries need to take annual RMDs if the original account owner had already started them.
     
    Here’s some of what we discuss in this episode:
    0:00 – Intro
    1:09 – The SECURE Act changes/confusion around RMDs
    5:16 – The potential consequences of delaying distributions
    7:54 – Proactive planning with your financial advisor about IRA distributions
     
    CNBC Article:
    https://www.cnbc.com/2024/04/19/irs-waives-required-withdrawals-from-some-inherited-ira-for-2024.html
     
    For more, visit us online: http://philstaxhacks.com
    Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
     

    • 13 min
    Long-Term Care and Life Insurance: The Basics You Must Know!

    Long-Term Care and Life Insurance: The Basics You Must Know!

    While you dream about the leisurely days ahead of you in retirement, it’s also important to think about some of the less glamorous items, including insurance. So, what types of coverage should you be considering for your golden years? What do you need to keep in mind as you prep for the transition?
    We’re going to walk you through the fundamentals in this two-part series. While we covered the basics you must know about health insurance in our last episode, today’s episode will focus on long-term care and life insurance.
     
    Here’s some of what we discuss in this episode:
    0:00 – Intro
    2:33 – The reality and “why” of long-term care
    6:40 – What does long-term care cover?
    8:20 – Running the math with long-term care
    11:36 – Alternatives to traditional long-term care
    14:04 – Do retirees need life insurance?
    16:05 –  Determining how much life insurance you’ll need
     
    Get Your Copy of The Tax-Smart Retiree
    https://www.amazon.com/Tax-Smart-Retiree-Guide-Thriving-Golden-ebook/dp/B0D356X36Q
     
    For more, visit us online: http://philstaxhacks.com
    Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

    • 18 min
    Retiree Health Insurance: The Basics You Must Know!

    Retiree Health Insurance: The Basics You Must Know!

    While you dream about the leisurely days ahead of you in retirement, it’s also important to think about some of the less glamorous items, including insurance. In this new season of life, your old policies may no longer suit your needs or may come to an end.
    So, what types of coverage should you be considering for your golden years? What do you need to keep in mind as you prep for the transition? Stay tuned as we chat about retiree health insurance in part one of this conversation!
     
    Here’s some of what we discuss in this episode:
    0:00 – Intro
    2:00 – The transition from employer-provided insurance
    6:26 – Supplemental coverage
    8:27 – Medigap vs Medicare Advantage
    11:56 – Enrollment periods and avoiding penalties
     
    For more, visit us online: http://philstaxhacks.com
    Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

    • 17 min

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