Phil's Tax Hacks

Whether you are less than a decade away from retirement or at the beginning of your career, it’s important to have a saving mindset. How can you make sure you are retirement ready?   Read more and get additional financial resources: https://philstaxhacks.com/podcast/ep-57-retirement-ready-or-not/     Watch the video podcast: https://youtu.be/7sF9WLpknd0     What we discuss on this show:  0:25 - Wh...

From the global bond market to living benefits, there are several important financial concepts you might not yet know about. Today’s episode will cover four things you should know when it comes to finances.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-56-financial-stuff-you-should-know/     Watch the video podcast here: https://youtu.be/evWGvRxgA_g...

Ever wish you knew then what you know now? That’s especially true in the year 2020. We discuss areas where hindsight could help and what to do about those financial decisions today.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-55-hindsight-is-20-20-in-financial-planning/     Watch the video podcast: https://youtu.be/qefGxAbekjs     What we discuss o...

Is a trust something everyone has or just the really wealthy? Do you need it as a part of your estate plan?   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-54-do-you-need-a-trust/     Watch the video podcast: https://www.youtube.com/watch?v=mEKpQjU43uE&feature=youtu.be     What we discuss on this show:  0:39 - We’re going to talk about estate planning...

How should you approach your home from a financial standpoint in retirement? Pay it off? Downsize? Rent it out? Let’s talk about real estate and how it fits into your plan.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-53-this-one-is-on-the-house/     Watch the video podcast here: https://youtu.be/b_apvElPm8Q     What we discuss on the show:  0:37 -...

We all hear various financial rules from time to time, but are they legit? Or are they full of it? Which of these are good rules of thumb and which are better to ignore? On today’s podcast we discuss seven financial rules to see what’s what and help you better plan for retirement .   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-52-are-these-financial-...

Many of the things you read or watch about finance will talk about the things you need to do to grow your portfolio. It’s not too often that you hear about the ways your retirement gets put in jeopardy, but it’s important to be aware of these mistakes. Today we’ll list five different errors people make that could ruin retirement so that you can make sure to do the opposite.     Read more and get a...

We all want to live a long and good life, but what does that mean from a financial standpoint? What kind of financial plan do you need to prepare and how can you plan appropriately for an unknown lifespan?   Read more on the topic here: https://philstaxhacks.com/podcast/ep-50-the-financial-risks-to-living-longer/     Watch the video podcast: https://youtu.be/kef-ksH57ds     On today's show:  0:55...

For some people, the idea of putting together a financial plan is pretty daunting. For others, the idea of building and designing a house is a lot more exciting. On today’s podcast, we consider what kind of building would go into creating a financial house.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-49-building-your-financial-house/     Watch the...

What happens to your financial plan once one spouse passes away? Is your plan organized and prepared or will the surviving spouse be left with a mess? Let’s talk about all the financial decisions you’ll be faced with during this difficult life event.   Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-48-financial-planning-following-the-loss-of-a-spouse/  ...

As you get closer to retirement, you might be prone to make these mistakes. We’ll talk through the key areas to be aware of so you can make better decisions as you near retirement.     Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-47-classic-pre-retiree-mistakes-to-avoid/     Watch the video podcast: https://www.youtube.com/watch?v=JfkNfw6YBc8     Toda...

What will happen to your portfolio when the market crashes next? Will you be ready or will your plans be wrecked? Let’s run through a list of the lessons we’ve learned that can be applied to the next bit downturn.   Read more and get additional financial resources here:  https://philstaxhacks.com/podcast/ep-46-survival-guide-preparing-for-the-next-market-crash/     Watch the video podcast here:  h...

What can we learn from geniuses? How can we apply those same principles when making investment decisions? On this episode of Phil’s Tax Hacks, we’ll discover what it means to invest like a genius as well as answer a question from the mailbag.    Read more and get additional financial resources here:  https://philstaxhacks.com/podcast/ep-45-investing-like-a-genius/     Watch the video podcast here:...

Are you risk-averse but then find out your portfolio is riskier than you want? Or do you say you want to retire but haven’t really prepared to do so? What other instances do you say one thing but do another?   Read more and get additional financial resources here:  https://philstaxhacks.com/podcast/ep-44-do-you-say-one-thing-then-do-another/     Watch the video podcast here:  https://youtu.be/Jizf...

Are you prepared for retirement? Reaching these milestones before you get there will ensure you transition to retirement with ease.     Read more and get additional financial resources here:  https://philstaxhacks.com/podcast/ep-43-4-financial-pre-retirement-milestones/     Watch the video podcast here:  https://www.youtube.com/watch?v=F9seLztVTbc   Today's show schedule:  0:49 - Four milestones t...

Are you investing in a traditional IRA or a Roth IRA? Which one is better? What pros and cons should you be aware about? Find out on this episode.   Read more and get additional financial resources here:  https://philstaxhacks.com/podcast/ep-42-traditional-ira-vs-roth-ira/     Watch the video podcast here:  https://youtu.be/ITCkfeqBp4c   Today's show schedule:  0:30 - Phil is back in the office, b...

From the debt snowball to perfectly following his baby steps, what does Phil think of Dave Ramsey’s advice? Is it something you should incorporate into your own financial plan or something to steer clear of?   Show Notes & Resources:  https://philstaxhacks.com/podcast/ep-41-should-you-follow-dave-ramseys-advice/   Watch the Video Podcast here:  https://youtu.be/zbxrhLXNu1Y     Timestamps: 0:23 - W...

What are some of the big critical mistakes that people are prone to make when retirement planning? How can you avoid them? Find out on today’s episode.   Read more and get additional resources here:  https://philstaxhacks.com/podcast/ep-40-critical-retirement-planning-mistakes/     Today's show schedule:  0:54 - What’s available in stores and what’s hard to find these days? 4:41 - Are bonds a safe...

What do you call what just happened in the market? Do you know what tax loss harvesting is? Should you be rebalancing? Find out in today’s show!   Read more and get additional financial resources here:  https://philstaxhacks.com/podcast/ep-39-financial-terms-you-should-know-during-a-pandemic/     Today's show schedule:  1:55 - What to call “what happened” in the market? 3:44 - What are the differe...

When you complete a crossword puzzle, every letter and word needs to be right in order to achieve success. Similarly, a financial plan has a lot of intersecting parts that need to be aligned in order to achieve your goals. Are you ready to play?   Read more and get additional financial resources here:  https://philstaxhacks.com/podcast/ep-38-playing-the-financial-crossword-puzzle/     Today's show...

As you try to make the best decisions, you may get a lot of bad advice--even from people with good intentions. How do you know who to listen to? Whose advice is bad and whose is good? We'll look at four common people we turn to and explain why you should be careful.    Read more and get additional resources here:  https://philstaxhacks.com/podcast/ep-37-best-intentions-but-bad-advice/     Today's...

What financial truths can you depend on to always be true? While some financial statements may be more opinion than fact, these financial truths are ones you’ll want to hang on to.   Read more and get additional resources here:  https://philstaxhacks.com/podcast/ep-36-financial-truths-you-can-depend-on/     Today's rundown:  0:50 - Are Americans taking out their retirement funds too early?  4:10 -...

Due to coronavirus, the CARES Act has outlined several provisions to relieve the financial burden on the economy right now. If you are allowed to take money out of your retirement accounts without penalty, should you?   Read more and get additional resources here:  https://philstaxhacks.com/podcast/ep-35-should-you-take-money-out-of-retirement-accounts-while-its-penalty-free/     Today's rundown: ...

Retirement planning and financial goals can be tricky to navigate. Instead of getting lost and going down the wrong path, here’s what to look out for and how to head in the right direction in the financial world.   Read more and get additional resources here:  https://philstaxhacks.com/podcast/ep-34-how-to-avoid-getting-lost-in-the-financial-world/     Today's rundown:  2:31 - In the News: What’s...