Phil's Tax Hacks

This episode discusses the significant increase in estimated healthcare costs for retirees in 2025, highlighting Fidelity's updated figure of $172,500 and emphasizing the importance of planning for these expenses in retirement.

A CPA and financial specialist reacts to YouTube comments about retirement strategies, starting with a discussion on social security timing and sequence of returns risk.

This episode discusses key financial lessons that parents and grandparents should teach new graduates as they enter adulthood, presented by a CPA and personal financial specialist.

This episode discusses the financial implications and considerations of changing careers at age 55, addressing whether it jeopardizes retirement plans and offering advice from a CPA.

This episode discusses the 4% retirement withdrawal rule, its origins by William Bengen in the 1990s, and recent updates to this financial planning standard.

This episode discusses whether retiring with $1 million is sufficient, addressing common anxieties about retirement savings and financial comparisons.

This episode discusses five ways wishful thinking can negatively impact retirement planning, starting with the misconception that spending decreases after retirement.

This episode reviews key financial events of 2025, including political shifts, inflation, tariffs, and market performance, offering insights for investors and retirees.

This episode clarifies updates and corrects misinformation about the Big Beautiful Bill, focusing on tax details like the SALT deduction.

This episode discusses five red flags to watch for when selecting a financial advisor, starting with the 'one size fits all' approach.

This episode discusses key concepts from Morgan Housel's book 'The Psychology of Money,' focusing on how emotions influence financial decisions more than mathematical calculations.

This episode discusses why merely saving money isn't enough for retirement readiness, emphasizing the importance of lifestyle planning, hobbies, and having a clear retirement vision.

This episode explores how real estate can enhance retirement planning through income generation, asset accumulation, and tax optimization strategies.

This episode discusses how to incorporate charitable giving into retirement planning while optimizing for tax benefits, with advice from a CPA and financial specialist.

This episode addresses a listener's question about turning savings into a structured retirement plan, focusing on steps to create income from accounts like 401ks.

This episode explores how emotions and feelings should be incorporated into financial and retirement planning, acknowledging that humans are emotional creatures whose feelings influence financial decisions.

This episode discusses how AI might impact job security and retirement planning, particularly for people in their 50s and 60s, with insights from Elon Musk's perspective on which jobs are most at risk.

This episode explores the pros and cons of using multiple financial advisors for managing money, addressing whether it provides double the wisdom or creates confusion and problems.

This episode discusses the pros and cons of target-date funds as a default retirement investment option in 401k plans, examining their popularity and suitability for different investors.

A CPA and financial specialist discusses whether selling a business for about $1 million is sufficient for retirement, addressing a listener's question about managing the proceeds with no prior investing experience.

This episode discusses whether 2025 is a bad time to retire by examining current stock market volatility and offering perspective on normal market behavior for retirement planning.

This episode addresses how couples with separate financial accounts can effectively plan for retirement, discussing complexities and strategies for integrating individual assets.

This episode discusses the common issue of parents sacrificing their retirement savings by financially supporting their adult children, with insights from a CPA on real-world examples and statistics.

This episode features a CPA reacting to Dave Ramsey's nine-step retirement plan, discussing its broad applicability versus personalized financial planning.

A CPA explains how the step-up in basis works for inherited homes, addressing common tax fears when selling such properties.

A CPA and financial specialist discusses controversial financial advice from figures like Robert Kiyosaki, critiquing recommendations to avoid company retirement plans in favor of startups, gold, silver, or Bitcoin.

This episode analyzes the Big Beautiful Bill (BBB) by comparing government sources with AI tools and media coverage to uncover factual information about tax and retirement implications.

This episode discusses shiny object syndrome in finance, warning investors to be cautious of flashy but potentially misleading financial designations and awards when choosing advisors.

This episode discusses the five essential steps for navigating the first year of retirement, covering both financial and emotional aspects of the transition.

This episode discusses the pros and cons of gifting money to heirs during one's lifetime versus leaving it as a legacy after death, exploring trends in financial planning and family dynamics.

This episode discusses whether a Roth or traditional 401k makes more sense for someone starting a new job at age 55, explaining the core tax differences between these retirement account options.

This episode explores whether downsizing in retirement is right for everyone, discussing common motivations like reducing expenses and home maintenance, and how today's real estate market complicates this decision.

This episode discusses retirement planning strategies for parents who will continue caring for adult children with special needs or disabilities, preventing the traditional empty nest scenario.

This episode discusses upcoming 2026 tax and financial changes, focusing on Social Security cost-of-living adjustments (COLA) and their impact on retirement planning.

This episode explains IRMA, a hidden Medicare surcharge that increases premiums for higher-income retirees, potentially reducing their social security checks by thousands of dollars annually.

This episode discusses common tax mistakes new retirees make, focusing on issues like RMDs and tax bracket misconceptions, based on a Kiplinger article.

This episode discusses the different types of life insurance (term, whole, universal) and their relevance for people in their 50s as part of retirement planning.

This episode discusses the complexities and gray areas in retirement financial decisions, using Roth conversions as an example to highlight how personalized advice is needed rather than one-size-fits-all solutions.

This episode discusses why cookie-cutter retirement plans are insufficient and emphasizes the need for personalized strategies, using examples like age gaps between spouses to illustrate unique retirement considerations.

This episode discusses whether to file for Social Security benefits at age 62 or wait, exploring both emotional motivations and financial calculations with a CPA.

This episode discusses financial planning and asset management for people getting married later in life or remarried, addressing a listener's question about keeping assets separate while planning for retirement.

A financial podcast discusses the pros and cons of retiring early to provide childcare for grandchildren, addressing emotional and financial considerations like Social Security benefits and daycare costs.

This episode discusses how three financial advisors would recommend investing $1 million for a hypothetical client in their late 40s, analyzing different portfolio strategies and allocations.

This episode discusses how inflation continues to impact retirement confidence, based on a Schwab survey and insights from CPA Phil Putney.

This episode discusses how type A personalities can struggle with financial planning due to their driven nature and explores why adopting a less active approach might be more effective for investors.

Phil Putney discusses the financial and emotional challenges of caring for aging parents, focusing on a listener's question about whether to hire help or move a 93-year-old parent in, while addressing broader issues like the sandwich generation and cost comparisons.

This episode discusses whether bonds are making a comeback in 2025, exploring their role in portfolios, common misconceptions, and current opportunities based on recent financial publications.

Phil Putney discusses whether you can build a tax-free retirement fund using an HSA, covering eligibility, stockpiling strategies, and real-world examples like buying a sailboat.

Phil Putney discusses whether to invest in gold amid its recent surge, analyzing pros like inflation hedging and cons like volatility and physical storage issues.

This episode discusses a listener's question about choosing between a higher pension payment with no survivor benefits for their spouse versus a lower payment that provides ongoing income to the spouse after the pension holder's death.

Phil Putney discusses a proposal to cap Social Security benefits to address program insolvency.

Phil Putney discusses the psychological challenge of spending retirement savings and the fears that hold retirees back.

A CPA discusses how to handle retirement savings when income is irregular due to commissions and bonuses.

Phil Putney and the host review the tariffs in play as of early March: a 10% China tariff in place since February 4, a 25% steel and aluminum tariff slated for March 12, and Canada and Mexico tariffs proposed for March 4 with a possible carve-out for cars and energy.

Phil discusses side gigs and consulting as ways to earn extra income during retirement and their tax implications.

Phil discusses the final four things advisors wish investors knew, focusing on hidden investment costs and advisor fees.

Phil and Mark discuss good money habits that may be taken too far, with a focus on tax and retirement planning.

Phil Putney discusses the U.S.

Phil Putney discusses lazy money and its relevance in 2024 amid recent Fed conversations, offering tax and retirement planning advice.

Phil Putney and co-host discuss year-end reflections and preview the upcoming year's financial landscape, including market and economic trends.

Phil Putney says a 50% downside is inseparable from pursuing 10%, 12%, or 13% returns.

Phil Putney challenges the belief that retirement automatically brings a lower tax bracket, citing clients whose combined income can match or exceed working income.

Phil Putney and his cohost use David Letterman's top-10 format to examine five retirement-finance debates, including mortgage payoff and advisor compensation.