Every generation likes to talk about how much harder things used to be when they were kids. Like all of the people who used to have to walk five miles to school, in the snow, uphill both ways. But they had at least one thing that was EASIER…and that was retirement planning.   Here’s some of what we discuss in this episode: 2:03 – Job Stability & Company Loyalty 4:33 – Less Reliance on Personal Savings 9:55 – Housing Market Stability 12:08 – Simpler Investment Landscape 15:34 – Higher Interest Rates   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

In today’s show, we’re going to answer some email questions from listeners just like you. These questions cover a range of topics from investing to retirement planning, and Phil is here to provide some expert insights. Remember, while we offer general advice on the show, it's always best to consult with a financial professional to tailor solutions to your unique situation. Stay tuned as we explore common financial dilemmas and uncover some general strategies to navigate them effectively!   Here’s some of what we discuss in this episode: 2:48 – Adjusting to retirement 6:59 – Social Security now or later? 10:07 – Company stock in 401(k) 13:27 – Selling property to pay off debt   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Everyone wants to know. Will the economy boom or bust in 2024? Join us as we explore a range of expert predictions, from the shifting trends in housing prices to the looming question of a potential recession or stock market crash.   Here’s some of what we discuss in this episode: 2:18 – Housing market in 2024 6:56 – Recession in 2024 12:50 – Stock market in 2024   Housing Prices Articles: https://www.newsweek.com/will-housing-market-crash-2024-realtors-share-predictions-1851540 https://www.financialsamurai.com/2024-housing-market-price-predictions-by-industry-experts/#:~:text=The%20real%20estate%20industry%20average,market%20rather%20than%20a%20crash. Recession Article: https://cals.ncsu.edu/news/you-decide-will-2024-be-a-year-of-two-economies/ Stock Market Articles: https://www.cnbc.com/2023/12/19/2024-market-predictions-bumpy-landing-for-the-economy.html https://markets.businessinsider.com/news/stocks/stocks-crypto-house-prices-dent-market-outlook-bubble-crash-recession-2023-12   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

This episode might be a bit counterintuitive. We’re going to question the real impact of common financial habits. Are the strategies you consider beneficial working in your favor?  We explore the pros and cons of practices like paying off debt early and keeping up with the financial news. Are your good money habits holding you back?   Here’s some of what we discuss in this episode: 2:04 – Paying off debt early 8:41 – Keeping up with financial news 11:26 – Global diversification 12:58 – Building an emergency fund 17:17 – Patience in making financial decisions   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

This two-part conversation might be a bit counterintuitive. We’re going to question the real impact of common financial habits. Are the strategies you consider beneficial actually working in your favor?   Here’s some of what we discuss in this episode: 1:49 – Ignoring account statements 5:14 – Keeping a strict budget 11:17 – Investing in familiar stocks 14:42 – Embracing automation 18:05 – Patience getting into the stock market   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

In today's episode, we'll be looking at the eye-opening findings of the 2023 Mercer CFA Institute Global Pension Index, which has ranked the Netherlands as the world's leader in retirement systems. Where does the U.S. stand? 22nd among the 47 countries that were ranked. Why so low? Join us as we analyze some of the intricacies of the U.S. retirement system, breaking down its strengths and weaknesses through the discerning lens of a seasoned financial advisor.   Here’s some of what we discuss in this episode: 1:55 – The grading system + The U.S.’ score 5:15 – Personal responsibility in the U.S. retirement system 16:12 – Suggestions for improvement 19:29 – Reducing retirement leakage + improving income stream 21:58 – Takeaways   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments.   Here’s some of what we discuss in this episode: 6:07 – What is lazy money? 7:42 – Finding the right amount for your emergency fund 10:42 – An advisor’s role with lazy money 17:10 – Having a long-term perspective   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

In this festive episode, we’ll sift through a sleigh-full of financial products and strategies to find out which ones deserve a spot in your financial stocking this year, and which ones are the proverbial lumps of coal. This will be an educational episode for all investors, whether you’ve been financially naughty or nice this year...   Here’s some of what we discuss in this episode: 2:11 – Fiduciary advisor 5:46 – Variable annuity 8:37 – Crypto 10:49 – HSA 12:05 – Indexed Annuity 13:59 – Long-term care insurance 15:40 – Dividends 18:02 – Roth IRA 18:43 – Risk Assessment Score   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

Have you ever wondered what questions to ask your financial advisor, or why those questions are crucial? In today’s episode, we’re tackling exactly that. We're discussing the vital questions that bring transparency and depth to your financial advisory relationship. It's about getting clarity on how advisors work, what they specialize in, and how they align with your financial goals. These are the questions you MUST ask your financial advisor.   Here’s some of what we discuss in this episode: 0:00 – Intro 1:21 – “How do you get paid?” 7:35 – Typical client 9:29 – Investment philosophy 11:03 – “Do you have a specialty?” 14:41 – Communication style 17:57 – Educational resources 19:45 – Firm size   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts

In today's episode, we're focusing on a critical aspect of retirement planning: healthcare costs. How well-prepared are you to handle medical expenses after you retire? Join Phil and Marc as they discuss the common pitfalls pre-retirees face when it comes to healthcare preparedness and offer insights into how to navigate the evolving landscape of healthcare options.   Here’s some of what we discuss in this episode: 1:44 – Gaps in planning 4:51 – Prescriptions 6:59 – Long-term care services 9:41 – What Medicare covers 12:34 – Long-term care insurance + alternatives 17:31 – Accounting for healthcare costs   Check out our episode on HSAs: https://philstaxhacks.com/podcast/ep-155-are-health-savings-accounts-super-roths/   For more, visit us online: http://philstaxhacks.com Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts