Location:
United States
Description:
Financial, tax and retirement planning guidance from Phil Putney. Each week Phil will talk about the keys to building a sound financial strategy that can survive throughout the ups and downs of the market. We'll have plenty of tax hacks along the way and other retirement facts!
Language:
English
Website:
http://www.afswealthmgt.com/
Episodes
Caring for an Aging Parent: Financially Smart or Emotionally Costly?
3/27/2025
Caring for aging parents is something many of us will face—but few are fully prepared for the financial, emotional, and logistical challenges that come with it. In this episode, we will tackle this common scenario for Baby Boomers and discuss what happens when you're part of the “sandwich generation”—caring for both kids and aging parents.
Our question today comes from someone whose 93-year-old mom has fallen twice in the past month, and he’s weighing two options: bring her to live with him or pay for in-home care out of his own pocket. Which choice makes the most sense, both financially and for his family’s well-being?
Here’s some of what we discuss in this episode:
🏡 In-Home vs. Facility Care – What’s cheaper, safer, and more sustainable?
💸 Tax Implications & Medicaid – What you need to know before paying expenses
📉 The Retirement Impact – How caregiving can affect your financial future
⚠️ Asset Transfer Risks – Why giving away the house can backfire without a plan
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:19:50
The HSA Secret: Can You Really Build a Tax-Free Retirement Fund?
3/20/2025
Are HSAs one of the best tax-advantaged accounts out there? Can you really stockpile a massive balance and use it tax-free in retirement? This is what a listener wants to know so we’ll analyze whether that’s a potential pitfall or if she’s maximizing this planning tool.
Here’s some of what we discuss in this episode:
💰 HSA = A Supercharged Roth IRA? – Why it’s better than traditional retirement accounts 🧾 Save Your Receipts! – The secret to accessing tax-free funds later 📊 Investing Your HSA Funds – Should you keep it in cash or invest it? ⚠️ Avoid Common HSA Mistakes – Withdrawal rules & penalties explained
0:00 – Intro
1:19 – Today’s question
1:46 – Yes, it’s true
3:36 – Better than a Roth?
7:25 – Investing HSA contributions
10:44 – What are qualified medical expenses?
12:22 – Other considerations
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:15:39
Gold Rush 2025: Should You Get In?
3/13/2025
Gold prices are surging, JPMorgan is making a massive $4 billion gold delivery, and people are wondering if they should invest in gold. Gold has long been promoted as a safe haven in times of uncertainty, but with markets shifting, inflation concerns lingering, and a possible trade war on the horizon, is now the right time to add it to your retirement portfolio?
Here are some of the key topics discussed:
📈 Gold at record highs – Is it too late to invest?
💰 Physical gold vs. ETFs – Pros, cons & key differences
⚠️ FOMO investing – Why jumping in now could be risky
🔄 Gold as a hedge – Smart ways to use it in your portfolio
0:00 – Intro
1:03 – Gold on the rise
4:04 – Downsides
8:55 – Owning gold
9:56 – Portfolio diversification
12:35 – Final thoughts
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:14:39
Trade War 2.0 - What Could It All Mean
3/6/2025
With so much happening domestically and abroad from a financial standpoint, this week’s show is going to look into the implications of Trade War 2.0 and its potential effects on the economy and markets. Phil will break down the latest economic data, tariff announcements, and which sectors might respond positively to the changes.
Here’s what we discuss in this episode:
0:00 – Intro
1:08 – Market instability & tariffs
5:23 – Apple’s $500 Billion Investment
7:23 – Reactions to tariffs
13:11 – Tariff winners
16:46 – Gold
18:37 – Final thoughts
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:22:29
Great Side Gigs for Extra Retirement Income & Fun
2/27/2025
For some people, the idea of retiring and then getting another job is detestable. For others, they can’t sit still and have to go find some other job. For the latter crowd, there are plenty of popular “side gig” jobs for retirees.
This week on the podcast, Phil discusses the shifting mindset surrounding retirement. We explore the various avenues available for retirees to engage in rewarding side activities that not only provide financial benefits but also fulfill personal passions. Many individuals are not merely seeking to retire from their jobs; they are looking for ways to stay engaged and active in their communities.
Here’s what we discuss in this episode:
0:00 – Intro
1:05 – Consulting
2:54 – Teaching
3:43 – Online marketplace
5:41 – Retiring to something
8:40 – What it means for planning
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:13:06
Do Smart Investors Really Need a Financial Advisor?
2/20/2025
If you’ve spent years successfully managing your own investments, do you really need a financial advisor? That’s the question we’ve heard from a number of different people. So, is working with an advisor just an extra expense, or could it actually add real value? In this episode, we break down when and why even experienced investors might benefit from professional guidance and when they’re probably fine on their own.
Here’s what we discuss in this episode:
0:00 – Intro
2:15 – What is a financial advisor?
3:51 – More than investing
7:40 – DIY blindspots
12:05 – Value of an advisor
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:15:00
What Do Proposed Tariffs Mean For Your Portfolio?
2/13/2025
With the recent political landscape, tariffs have become a hot topic, often surrounded by confusion and misinformation. How do you sit through the noise to find out how this might impact you? In this episode, Phil breaks down what tariffs are and how they can affect your investment portfolio as you near retirement.
Here’s what we discuss in this episode:
0:00 – Intro
1:42 – What is a tariff?
2:48 – Will costs rise?
7:02 – Has this happened before?
9:20 – Impact on economy
10:40 – Effect on the market
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:08:06
Is Tech Overweighted? Understanding The Current Market Landscape
2/5/2025
This week on Phil’s Tax Hacks, Phil and Marc dive into the current state of the stock market with a particular focus on the tech sector. They discuss the growing concerns around tech companies being overweighted in the S&P 500, and how recent news, including competition from a Chinese AI company, is shaking up the market.
Phil highlights key issues like price-to-earnings ratios, the potential risks of tech-heavy investments, and the challenges this new AI could bring to companies like Nvidia. We’ll also touch on the Federal Reserve's stance on interest rates and the impact of ongoing tariffs.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:25 – Tech sector performance
5:00 – Price-to-earnings ratio and market valuation
8:43 – Comparison to past market bubbles
13:21 – Fed policy and interest rates
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:17:14
The New Retirement: Why Many Are Choosing Work Over Leisure
1/30/2025
A recent article on Fortune highlights a growing trend among baby boomers: continuing to work well into their 60s and 70s. Surprisingly, this is not out of necessity, but for the mental stimulation, social connections, and fulfillment that work provides. With nearly 20% of Americans over 65 still employed, this shift is challenging traditional views of retirement and sparking important conversations about what it means to truly retire.
Here’s some of what we discuss in this episode:
0:00 – Intro
2:20 – Loneliness and loss of purpose
4:53 – The impact of working in retirement on financial plans
8:09 – Generational differences toward work and retirement
11:21 – Technology and remote work in retirement
12:44 – Takeaways
The article that inspired this week’s show:
https://fortune.com/article/the-new-retirement-is-no-retirement-baby-boomers-are-keeping-jobs-well-into-their-sixties-and-seventies-because-they-like-going-to-work/
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:16:02
How Will Trump’s Executive Orders Reshape the Economic Landscape
1/23/2025
President Donald Trump wasted little time taking action once he returned to office, and people are wondering how these long list of Executive orders will reshape the economic and financial landscape. Join CPA and financial specialist Phil Putney as he breaks down the implications of these changes on inflation, energy costs, tariffs, and more.
Here’s some of what we discuss in this episode:
0:00 – Intro
2:07 – Addressing inflation & cost of living
3:43 – Energy
5:53 – Trade and Tariffs
9:42 – EV mandate
14:05 – DOGE
15:37 – Stock market
20:26 – Technology
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:23:53
Social Security Claiming Tips + New Legislation
1/16/2025
Staying informed about Social Security changes is crucial for maximizing your benefits, and recent legislation will change benefits for a significant number of Americans. Today we’re going to bring you up to speed on the Social Security Fairness Act and explain how this legislation will be retroactive to 2024, potentially offering a financial windfall for affected retirees.
Here’s some of what we discuss in this episode:
0:00 – Intro
0:48 – The Social Security Fairness Act
5:42 – Claiming strategies
10:22 – Strategies for dual-income households
14:03 – Previous marriages
18:31 – SSDI and SSI
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Duration:00:22:50
Retirement Spending Strategies That Could Change Your Life!
12/26/2024
It’s the beginning of a new year – a time when many of us make resolutions to improve our lives. But how often do we resolve to improve the way we feel about our finances? In the latest episode, Phil explores the crucial transition from saving to confidently spending your hard-earned funds.
Here’s what we discuss in this episode:
0:00 – Intro
1:51 – Spending with confidence
8:41 – Spending guardrails
12:02 – Tips for those who are afraid to spend
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA
Duration:00:17:04
Are Future Retirement Worries Harming Your Mental Health TODAY?
12/19/2024
Are future retirement worries causing you mental health issues today? That's happening to a lot of folks right now. There's so much stress going on out there that we certainly panic about some of these things and maybe sometimes it’s justifiable. So let's talk about the mental health challenges tied to future retirement worries and the ways we can hopefully avoid them.
Here’s what we discuss in this episode:
0:00 – Intro
1:10 – Diving into the stats
4:59 – Charitable giving
9:13 – Fear of never being able to fully retire
12:01 – Average 401k contribution
14:12 – Target date funds
16:12 – Mental health
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://www.youtube.com/channel/UCGS8K5-iPEy6b7fu4pLNLtA
Duration:00:19:14
How Should You Invest Money That You’ll Need in 3 Years?
12/5/2024
One of the most difficult scenarios for investing is what to do with money you know you’re going to need within a few years for a large expense. You don’t want that money to be stagnant during that time but you also can’t afford to take on much risk either.
Today we’re going to talk about strategic planning for short-term needs and explore the best ways to invest money you’ll need in the next three years.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:35 – Larger planned expenses
3:05 – Things to think about
5:55 – What tools are out there?
8:10 – Strategizing for expenses you know are coming but aren’t sure when
10:24 – Final thoughts
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Duration:00:14:57
What Financial Advisors With Every Investor Knew (Part 3)
11/26/2024
We’ve finally reached the final part of our three-part series on what financial advisors wish every investor knew. Phil will discuss four more big things that will make planning for retirement with their advisor even smoother.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:25 – Know what you are paying
4:22 – Understanding that there will be some risk involved
8:03 – The risks that come with the internet
14:52 – The big name doesn’t necessarily mean the best fit
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts
Duration:00:21:13
What Financial Advisors With Every Investor Knew (Part 2)
11/21/2024
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
Duration:00:19:57
Tariffs, Tax Cuts & Immigration: Financial Forecasting For 2025
11/14/2024
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
Duration:00:21:53
What Financial Advisors Wish Every Investor Knew (Part 1)
11/7/2024
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
Duration:00:16:37
Is Dividend Investing Dead?
10/24/2024
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
Duration:00:14:50
How Raising the Social Security Retirement Age Could Impact You
10/17/2024
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
Duration:00:14:20
