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

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards…

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

2:32 – Passing up a 401k match

5:32 – Saving only in tax-deferred accounts

8:05 – Depleting emergency fund

10:37 – Cashing out retirement plan

13:24 – Delaying home maintenance

15:28 – Social Security at age 62

18:26 – Working with wrong advisor

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

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

Ever thought that minor tweaks in your financial plan could lead to major wins? Join us as we jump back into our conversation on the powerful world of simple financial adjustments. Stay tuned as we unpack some seemingly small steps that can bring about big, positive ripples in your financial life. If you missed part 1, you can check it out here!

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

1:28 – Tax efficiency of investments

6:15 – Checking beneficiary designations

10:05 – Rebalancing your portfolio

12:55 – Emergency fund balance

17:37 – Automating your savings

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

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

Ever thought that minor tweaks in your financial plan could lead to major wins? Join us in this episode as we unravel the surprisingly powerful world of simple financial adjustments. Stay tuned as we unpack some seemingly small steps that can bring about big, positive ripples in your financial life.

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

• 1:41 – The right amount in cash

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

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

Ready for an adventure? Think of retirement planning as climbing a mountain. It's not just about the climb up; it's about preparing wisely, tackling the ups and downs, and even planning your way back down.

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

• 3:23 – Preparing for the climb

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

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

As the year winds down, it's crucial to ensure your financial house is in order. Join us for a thoughtful episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years. We'll explore the nuances of optimizing your investment portfolio, safeguarding your assets, and ensuring a stable, rewarding lifestyle in the years to come.

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

• 1:44 – General planning + investment strategies

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

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

“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt... Ever wish you could foresee financial missteps before they happen? In today’s episode, we’ll explore some real-life stories of regret and arm you with the essential dos and don'ts to ensure your money works for you, not against you.

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

• 1:38 –Premature IRA withdrawals

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

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