Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment

Nobody likes tax season, but for new retirees, the rules can feel completely different. Income changes, required withdrawals begin, and decisions that once lowered taxes can create bigger bills later. Phil unpacks some of the most common retirement tax mistakes and how they show up in real life. A little forward planning can make a dramatic difference over the long run.

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

💡 Future Tax Shock – RMDs can spike taxes

📆 RMD Rule Changes – Ages 73–75 and penalties

🔄 Roth Strategy – Coordinated long-term conversion planning

🧮 Social Security Taxes – Income mix affects taxation

👪 Spouse & Heirs – Widow’s penalty and inherited IRAs

Read The 5 Biggest Tax Mistakes New Retirees Make in the First 5 Years

https://www.kiplinger.com/taxes/tax-planning/biggest-tax-mistakes-new-retirees-make-in-first-years

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

Watch the video podcast on YouTube: https://bit.ly/3WdDG96

Get your copy of The Tax-Smart Retiree: https://www.thetaxsmartretireebook.com/welcome

Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment

For many business owners, the company isn’t just work; it’s the retirement plan. No 401(k). No diversified portfolio. Just years of sweat equity tied up in one asset. So, what happens when you finally sell? Phil explains what really happens during a business sale and tackles an even bigger question: once the check clears, how do you turn that lump sum into sustainable retirement income?

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

📑 Transaction Structure: Asset vs stock sale

💵 Tax Implications: Capital gains impact

📊 Retirement Planning: Income from proceeds

🧭 No Investing Experience? The learning curve is steep

📈 Diversification: Avoid concentration risk

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

Watch the video podcast on YouTube: https://bit.ly/3WdDG96

Get your copy of The Tax-Smart Retiree: https://www.thetaxsmartretireebook.com/welcome

Book an appointment with Phil to get your customized planning process started ➟ https://www.afswealthmgt.com/schedule-appointment

Financial media loves simple answers: always do this or never do that. But real financial planning doesn’t work that way. Most of the biggest decisions people face in retirement live in the gray. Phil pulls back the curtain on the sensational advice dominating YouTube and financial media. Instead of chasing rigid rules, he explains why thoughtful coordination across multiple planning areas produces better outcomes.

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

💰 Roth Conversions: Tax bracket timing matters

📊 Social Security: Math vs comfort decision

🛡 Life Insurance: Term vs permanent purpose

🏠 Mortgage Question: Numbers vs emotions

🧠 DIY Planning: Experience changes outcomes

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

Watch the video podcast on YouTube: https://bit.ly/3WdDG96

Get your copy of The Tax-Smart Retiree: https://www.thetaxsmartretireebook.com/welcome