Phil's Tax Hacks

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment For years, bonds were the “boring” part of a portfolio, but with higher yields, many investors are asking if bonds are finally back. In this...

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment Forget polished advice. If you want the truth about retirement, read the YouTube comments. In this episode, Phil reacts to the fears, frustra...

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment Well, you’re retired. Now what? Some people subscribe to the “first year rule,” which says that the majority of your best retirement months w...

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment Downsizing in retirement seems like a no-brainer, but it’s not that simple. In this episode, Phil tests some of the most common beliefs about...

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment Think Medicare is free at 65? Think again. Many retirees are shocked to learn about IRMAA- the Income-Related Monthly Adjustment Amount- a hi...

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment After years in the corporate world, you’re ready for something different. Something hands-on, flexible, or more meaningful. But the big quest...

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment Inflation may no longer dominate headlines like it did in 2022, but it’s still a top concern for many Americans planning for retirement. A re...

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment When it comes to tax law changes, even official government summaries can get the details wrong. In this episode, Phil revisits the “Big Beaut...

You’ve spent decades building your investment accounts, monitoring the markets, and contributing to your 401(k). That’s great. But here’s the truth: you’re not ready to retire if that’s all you’ve done. Retirement planning isn’t just about your portfolio; it’s about so much more. In today’s episode, Phil dives into all the non-investment decisions that can make or break your retirement.   Here’s s...

Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment No two retirements look the same, and often clients come in with circumstances that make a cookie-cutter plan impossible. In this episode, Phil looks at some examples of these more unique and challenging scenarios and explore the solutions you’ll need to successfully re...

Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment In this episode, Phil tackles a question many couples face: how do you plan for retirement when your finances have always been separate? Maybe one of you has a pension, the other a 401(k). Maybe you split expenses or handle totally different parts of the budget. Phil ex...

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment Dave Ramsey is one of the most recognized voices in personal finance. His 9-step retirement plan is simple, direct, and built for mass appeal...

Want to learn more about financial planning? Please subscribe to our channel and you won't miss a video ➟ https://bit.ly/33RO6mV Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment   The Big Beautiful Bill has officially passed, and Phil is here to bring you everything you need to know from a tax and retirement planning...

You’ve worked hard, saved well, and now you’re thinking about giving back—maybe to your kids, your grandkids, or a cause you care about. But should you wait and pass that wealth on later, or give while you’re still around to enjoy the impact? Let’s talk about how to make that decision with confidence.   Here’s some of what we discuss in this episode: 🎁 Why more retirees are choosing to gift now...

For many parents, retirement planning includes the idea of an empty nest. But what if that’s never going to be your reality? Today, Phil answers a viewer question about how to plan for retirement while continuing to care for an adult child on the autism spectrum. It’s a question more families are facing, and in this episode, we’re walking through the financial and emotional factors that come with...

The 4% rule gets talked about like gospel in retirement planning. But let’s be honest, it’s always been more of a rough guess than a golden rule. Now, its original creator is revising it to 4.7%. So, does that mean your retirement paycheck just got a raise, or is this just another headline that oversimplifies a complex decision? In a world of volatile markets, tax surprises, and rising longevity,...

Target-date funds seem like the ultimate “set it and forget it” retirement strategy, but are they really as simple and safe as advertised? In today's episode, Phil unpacks these popular, automatic investment options that now hold over $4 trillion in assets. If you’re like many people, your 401k automatically funnels your money into these funds based on your retirement date. Convenient? Definitely....

Graduation season is an exciting milestone, not just for the grads, but for parents and grandparents who have supported them along the way. Today, Phil wants to share practical ways you can help your graduate make smart financial decisions early, along with actions that could have a lasting impact on their future. Here’s some of what we discuss in this episode: 📊 The tools that make budgeting eas...

A little hope is good for the soul, but when it comes to retirement planning, wishful thinking can lead to serious financial mistakes. Today, Phil is walking through five common examples of wishful thinking that can quietly damage your retirement and how you can build a plan that protects your future instead of relying on luck.   Here’s some of what we discuss in this episode: 💸 The hidden cost o...

Today Phil’s talking about Type A personalities. If you’re driven, competitive, and goal-oriented then you’re part of the club that often struggles during difficult markets. When things get tough, your instinct is to work harder, push more, and fix the problem. But in investing, that instinct can sometimes backfire. In this episode, Phil unpacks the tension between action and restraint when market...

Today Phil’s kicking off his new Financial Book Club with The Psychology of Money by Morgan Housel. This book isn’t just about money strategies. It’s about why we make the choices we make, even when they don’t seem to make sense. You might find that your mindset is a bigger advantage than any investment tip. If you’ve ever wondered why it’s so hard to stick to the “smart” plan, this conversation m...

Can real estate actually boost your retirement plan? Is renting a property a reliable source of income, or just added stress? The short answer: it depends. In this episode, Phil breaks down the many ways real estate can support- or complicate- your retirement strategy. From rental properties and house flipping to reverse mortgages, REITs, and home equity lines of credit (HELOCs), this episode cove...

You’ve worked hard, saved diligently, and now you’ve got a solid 401(k) and a few other accounts... but now what? In this episode, Phil answers a common question submitted by one our listener’s: How do I turn my savings into a real retirement plan? We’ll walk through how to shift from accumulation to distribution, and explains how to organize your financial "stuff," take inventory, and define what...

Thinking about retiring in 2025? You're not alone, but the timing might feel a little... complicated. With stock market swings, whispers of a recession, economic uncertainty, federal layoffs, and tariffs making headlines, it's no wonder many are feeling uneasy. But what if you had 2025 circled on the calendar long before all this? Is it still a smart time to step away, or could it be the worst pos...

How much support is too much when it comes to helping your adult children financially? A growing number of retirees are facing the dilemma of supporting adult kids at the expense of their own retirement goals. Let’s talk about how to prioritize your finances and why keeping your kids on the payroll could erode away everything you’ve worked for. Here’s some of what we discuss in this episode: 👨‍👧...