Phil's Tax Hacks

If you had $1 million saved for retirement, how long could you live off of that? A lot of it depends on where you live. Let’s check out some possibilities across the country on today’s podcast.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-82-how-long-would-a-million-bucks-last-in-retirement/     Watch the video podcast: https://youtu.be/DjjU0NJ9j5w...

The quotes and quips from the past can shed a lot of light on the current situation when it comes to financial planning. Have you heard any of these before? How do they apply in your financial life?   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-81-what-can-we-learn-from-will-rogers/     Watch the video podcast: https://youtu.be/t5C8cbly-ZU   What we...

How do you know if you’re flirting with financial disaster? On today’s episode of the podcast, Phil goes over four big areas where things can really go awry if they are not properly handled when it comes to your finances.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-80-are-you-flirtin-with-financial-disaster/     Watch the video podcast: https://you...

When faced with financial challenges, do you view them as a crisis or an opportunity? Phil shares how your financial advisor can help you navigate them.   Read more and get additional financial resources: https://philstaxhacks.com/podcast/ep-79-when-crisis-meets-opportunity/     Watch the video podcast: https://www.youtube.com/watch?v=iwkKJtqOBhI   What we discuss on this episode:  0:31 - Is Phil...

March Madness is back! Have you filled out your brackets yet before the tournament starts? To have a little basketball-inspired fun today, we talk about the parallels between financial planning and March Madness.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-78-march-madness-and-retirement-planning/     Watch the video podcast: https://youtu.be/6r6rv...

While pensions used to be the standard retirement benefit offered by companies, that is becoming less and less common. On today’s episode of the podcast, Phil talks about what options you have with a pension, why you might still need to save for retirement outside of the pension, and what to look out for.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep...

You know what happens when you assume, right? We all make assumptions from time to time as humans, but what assumptions are you making from a retirement standpoint that you really shouldn’t? On today’s episode, Phil talks through the assumptions you might be making and how to adjust your thinking.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-76-reas...

A lot of small business owners put so much into their business plan and into their business, that sometimes they overlook themselves. One of their biggest assets and efforts is their business itself, but what about retirement? On today’s episode of the podcast, Phil and Marc talk about the kinds of decisions business owners face, sharing personal experiences and advice for business owners trying t...

Are you in the know or in the dark when it comes to your financial plan? Is your spouse the one making the calls or are you doing it together? Let’s talk about the steps you can take to get more involved in your family’s finances.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-74-getting-more-involved-in-retirement-planning/     Watch the video podcas...

As you file your 2020 taxes, what do you need to be aware of to account for that unprecedented year? What changes were made and how should you prepare? We'll fill you in on the top tax tips.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-73-top-tax-tips-for-filing-in-2021/     Watch the video podcast: https://youtu.be/XTHpqM3TG0s     What we discuss o...

Wondering what just happened with GameStop stock? Wish you had jumped on that bandwagon? Phil gives some information on what happened and what he thinks about it.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-72-the-gamestop-stock-story/     Watch the video podcast: https://youtu.be/fRTjDrrucrU     What we discuss on this episode:  1:19 - What happen...

No one likes bad news and sometimes the good news doesn’t outweigh the bad. On today’s podcast, we talk about a few financial topics that come with good news and bad news.   Read more and get additional resources here: https://philstaxhacks.com/podcast/good-news-bad-news-in-financial-planning/     Watch the video podcast: https://youtu.be/6j5R4FVKzeo     What we discuss on this episode:  0:40 - Do...

Have you stopped to reflect on yourself and your feelings when it comes to finances? When you meet with an advisor, it’s important to be true to yourself. Today on the podcast, we’ll ask the questions you should sit with when it comes to making financial decisions and a financial plan.    Read more and get additional financial resources here: https://philstaxhacks.com/podcast/know-thyself-how-look...

What are the three qualities of money that everyone wants? How can you get all of them within your portfolio? Phil talks through the key three qualities and what you need to make it happen.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-69-the-three-qualities-of-money/     Watch the video podcast: https://youtu.be/ZC_9a-K3b0g     What we discuss on th...

Retirement planning will be different for every person, but it’s interesting to look at the averages to get a general guide on where you stand. Today we’ll share some retirement statistics that will give you a good idea of how the average American prepares for retirement and where the shortcomings might be.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/...

As we finish off the year, we’re all dreaming about a lifestyle that looks a bit different than this one. What are your retirement lifestyle goals?   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/which-retirement-lifestyle-is-right-for-you/   Watch the video podcast: https://www.youtube.com/watch?v=YAgPduaRT74   What we discuss on this show:  1:11 - What...

What financial moves should you make before the year is over? Have you talked with your financial advisor about these strategies? Let’s review the items that are most important at the end of the year.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-66-end-of-year-financial-planning/     Watch the video podcast: https://www.youtube.com/watch?v=2p7Vl6w2T...

The Tax Foundation released a detailed analysis of Biden's tax proposals and this week we look at a few of the items that caught Phil's attention. Are there tax changes ahead? Anything different you should do with your plan now? We'll try to help you answer those questions today.   Read more and get additional financial resources: https://philstaxhacks.com/podcast/ep-65-what-to-know-about-bidens-t...

How do you pick the right advisor? Often we get caught up in finding the right investments and making sure the portfolio is balanced. But what about finding the right person to help you facilitate that plan?   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-64-finding-the-right-advisor/     Watch the video podcast here: https://youtu.be/qLffTFZSlm0     W...

We’ve all heard the saying, “the customer is always right”, but are they? When it comes to financial planning, you are going to see an advisor to hear their guidance and wisdom. So, if there’s a disagreement, are you right or are they? That's what we'll talk about on today's show.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-63-dont-assume-the-custo...

Is your portfolio diversified? Should it be? What does true diversification look like? We’ll tell you on this episode.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-62-is-diversification-just-for-suckers/     Watch the video podcast: https://youtu.be/69LkNzJHE3w     What we discuss on this show: 2:00 - Is diversification for suckers? 2:50 - How does...

How do you know if you’re ready for retirement? Whether you plan to retire soon or years from now, taking this quiz will help you understand what you need to do to prepare.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-61-would-you-pass-this-retirement-preparedness-quiz/     Watch the video podcast: https://youtu.be/VSs7liueo0o     What we discuss on...

Many of us have a 401(k), but how much do you really know about it? What frequently asked questions does Phil get when it comes to investing wisely?   Read more and get additional resources here: https://philstaxhacks.com/podcast/ep-60-answering-your-401k-faqs/     Watch the video podcast: https://youtu.be/E5LyPiJcQW8   What we discuss on this show: 1:44 - What frequently asked questions does Phil...

Whenever you have questions or concerns about your financial situation, you should reach out to a financial advisor. Today we’re going to answer several questions from listeners to hear what Phil has to say regarding everything from a long-term care policy to tax refunds.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/484/     Watch the video podcast: ht...

Are you understanding all of the options when it comes to Social Security? Or do you feel like retirement and Social Security always coincide? Today we take a look at this important piece of retirement income.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-58-reframing-the-social-security-conversation/     Watch the video podcast here: https://youtu.b...