Today is part two on the things financial advisors wish investors knew. These are the things that can set you up for success in retirement but most people don’t have a great grasp on.

Here’s some of what we discuss in this episode:

0:00 – Intro

2:10 – Financial decisions are emotional

6:03 – The true significance of diversification

9:17 – Having an advisor is for everyone

13:48 – The importance of updates and reviews

16:53 – Work with the right person for the right time

For more, visit us online: http://philstaxhacks.com

Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

This week, Phil and Marc dive into the potential financial impacts of tariffs, tax cuts, and immigration policies following the 2024 election. While early speculation should be taken with caution, they’ll discuss what could be in store for 2025. With changes in policy possibly affecting everything from taxes to housing, the duo breaks down what these shifts could mean for your financial future.

Throughout this conversation, Phil stresses the importance of sticking to your financial plan until the dust settles. As we move forward, it’s crucial to stay focused, maintain your long-term strategy, and be patient as we navigate this evolving landscape.

Here’s some of what we discuss in this episode:

0:00 – Intro

2:00 – A Tax Cuts and Jobs Act extension?

5:51 – Corporate tax rate and Social Security tax proposals

8:12 – Tariffs and their economic impact

13:33 – Immigration and it’s economic implications

17:17 – Having a long-term vision

Helpful resources for this conversation:

https://time.com/7095898/donald-trump-economy-plan-2024/

https://www.npr.org/2024/11/06/nx-s1-5181327/trump-election-economy-tariffs-deportations

https://wellsfargo.bluematrix.com/links2/html/5fd93977-359f-4bff-8db1-42935f3e8f45

Get our Tax-Smart Retiree book: https://www.thetaxsmartretireebook.com/welcome

For more, visit us online: http://philstaxhacks.com

Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Imagine you could read your financial advisor’s mind before you even walked through the door for the first time. What would they want you to know? This week, we kick off a three-part series on the things we wish people knew about investing and planning.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:48 – Setting realistic financial goals

6:37 – Long-term vs short-term planning

8:26 – One-size-fits-all approach

10:55 – More than investing

Get our Tax-Smart Retiree book: https://www.thetaxsmartretireebook.com/welcome

For more, visit us online: http://philstaxhacks.com

Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Dividend investing has long been a staple in retirement planning, providing a predictable income stream for many retirees. However, the landscape is shifting. The concept of incidental income, which relies on the rebalancing of a portfolio and the cash flows it generates, is gaining attention.

This week we want to tackle the question: Is dividend investing dead? A recent article came out explaining that in today’s economy, it’s possible that dividends may not be the ideal way to invest so we want to explore that idea.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:20 – Incidental income

4:14 – Tax implications

7:38 – More active management

10:40 – Corporate taxes

Read the article referenced in this episode: https://seekingalpha.com/article/4723299-incidental-income-makes-dividend-investing-unnecessary-in-retirement

For more, visit us online: http://philstaxhacks.com

Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Social Security is the backbone of retirement for millions of Americans, but big changes may be coming. There’s plenty of speculation about what might change to improve the solvency of the program, and one simple fix would be to change the retirement age. On this episode, we dive into the recently released proposal to raise the full retirement age from 67 to 69 and what it means for your benefits, your future, and your financial security.

Read the report from the Congressional Budget Office: https://www.cbo.gov/publication/60516

Here’s some of what we discuss in this episode:

0:00 – Intro

1:56 – Phil’s opening thoughts

3:30 – Who could be impacted

5:19 – How benefits could change

10:18 – Funding your own retirement to stay on the safe side

11:54 – Don’t panic!

For more, visit us online: http://philstaxhacks.com

Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Every firm has distinct principles that guide its approach to financial planning. When searching for an advisor, you want to find someone who aligns with your needs. In this episode, we take you behind the scenes to explore the core values and unique processes that set AFS Financial Group apart.

Here’s some of what we discuss in this episode:

0:00 – Intro

0:54 – Phil’s core values

2:34 – Being a CPA and financial advisor

5:11 – Education

8:51 – How does Phil measure success?

For more, visit us online: http://philstaxhacks.com

Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

As the election season heats up, understanding the tax proposals of the presidential candidates is important. While we don’t talk politics on this show, policies can have a direct impact on our finances. In this episode, we dive into the contrasting tax proposals of Donald Trump and Kamala Harris.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:36 – Trump’s corporate taxes

4:01 – Kamala’s corporate taxes

5:51 – Trump’s individual income taxes

10:06 – Kamala’s individual income taxes

18:24 – Trump’s other tax proposals

19:46 – Kamala’s other tax proposals

21:27 – Potential long-term economic impacts

For more, visit us online: http://philstaxhacks.com

Watch the video podcast on YouTube: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA

Ever wonder how your financial advisor really gets paid and what that means for you? Whether it’s a fee, a commission, or a salary, the way your advisor earns money could be influencing the advice they give you. In today’s episode, we’re talking about the different pay structures of financial advisors, revealing the benefits, the potential biases, and what you need to know to make sure your money is truly working for you.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:33 – Fee-only, commission-based & fee-based

5:44 – Salary-based advisors

7:08 – Pros and cons of each model

12:23 – Phil’s advice for your advisor search

For more, visit us online: http://philstaxhacks.com

Watch the video podcast on YouTube: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA