Phil's Tax Hacks Phil Putney

In this episode, we explore the case of James McDonald, a former CNBC analyst, whose risky investment strategies with client money led to serious legal and financial repercussions. After being on the run for three years, he’s been arrested.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
0:45 – Article Recap
3:03 – Know who you’re working with
6:20 – Impact on industry
7:10 – Preventative measures
 
For more, visit us online: http://philstaxhacks.com
 
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

The S&P 500 is often thought of as a broad market index, but today's reality is quite different. In fact, the index is heavily dominated by a few tech companies- Nvidia, Apple, Microsoft, Amazon, Alphabet, and Meta. These six companies alone make up more than 30% of the S&P 500's market cap, which can be misleading for investors who believe they are diversified simply by investing in the S&P 500. 
Tune in as Phil and Marc discuss the implications of this market shift and how to make informed decisions that align with your financial goals.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
1:36 – Looking at the S&P 500
5:00 – Understanding your investments
10:57 – Making decisions aligned with your goals
 
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

When it comes to your financial future, who you listen to can make all the difference. In this episode, Phil shares the story of a long-time client who was swayed by a pushy insurance agent into making a potentially detrimental financial decision. Despite having a well-thought-out plan and a balanced portfolio, the client was convinced to move all their assets into annuities by an agent who played on their fears about market volatility.
 
Here’s some of what we discuss in this episode:
0:00 – Intro
1:08 – Client story
6:09 – Working with an advisor who understands your needs
8:51 – Having a comprehensive plan
 
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 experienced an "aha” moment that changed your perspective on something important? These are the moments when the light bulb goes off, and everything starts to make sense. This week on Phil’s Tax Hacks, we talk about some revelations that clients experience when working with a financial advisor.  
 
Here’s some of what we discuss in this episode:
0:00 – Intro
4:29 – Some common doubts and hesitations from clients
9:01 – The importance of trust between advisor and client
11:13 – Starting planning early and making informed decisions
 
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

To trust or not to trust… that is the question we’re tackling in this week’s episode. Trusts are often surrounded by misconceptions. Many believe they are only for the wealthy or that they complicate financial planning. But what’s the truth of the matter? Should you have one?
 
Here’s some of what we discuss in this episode:
0:00 – Intro
1:17 – Reasons to have a trust
11:06 – Downsides of a trust
15:37 – Making an informed decision
 
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

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