Phase 3 Advisory Services

07/21/2026

Retirement years are often accompanied by large capital gains tax bills. In this episode of The Year You Retire podcast, we cover the intricacies of capital gains taxes and the strategies you can use to help to minimize their impact.

The Year You Retire · Episode

07/20/2026

The happiest retirees have at least 5 "core pursuits" which keep them engaged and fulfilled. Here's how to find yours:

“Core pursuits” are defined as the hobbies, interests, and activities that provide meaning and enjoyment for an individual, and research shows that they play a critical role in long-term retirement satisfaction.

According to Wes Moss, contributor at Forbes, retirees who can identify five or more substantive core pursuits are far more likely to rate themselves as “thriving” rather than merely “coping” or “unhappy.” Those stuck at four or fewer often use words like “drifting,” “bored,” or “aimless” to describe their days, even when their finances are on solid ground.

The most effective approach to finding your core pursuits is to envision how you'd like to spend 15-20 hours of your week, every week, once you are no longer employed full-time. The goal is to create a sustainable weekly routine, and not just a list of hobbies.

Core pursuits can include things like volunteer work, Bible study, fitness pursuits, taking care of grandchildren, and so much more.

If you're struggling to get started, look back over the previous twelve months and list the activities that you truly enjoyed and felt energized by. For each activity, ask yourself the following three questions, and consider anything that gets 2 "yesses" to be a potential core pursuit:

Would I miss this if it disappeared from my life?
Am I willing to dedicate time to it every week or every month?
Does it connect me to other people, to learning, or to something bigger than myself?

07/17/2026

Without a purpose, your budget is just a spreadsheet or a list of bills. Setting goals for your money can make it easier to stay motivated and disciplined in sticking to the budget you've set.

When you know why you are saying no to a potential purchase, it becomes much easier.

A few tips for you:

Don’t just say you "want to save money." Define what you are saving for.
Is it for a down payment on a house?
Do you want to buy a new car?
Are you saving up for a child’s college education?

The more specific you can be, the better! For example, instead of “I want to save for a vacation,” think “I will save $5,000 for a trip to the Philippines by December 31 next year.”

2. Pay Yourself First
A typical money mistake people make is saving what’s left after expenses. This means you'll often end up with nothing left to save at the end of the month, because everything else seems more important.

Shift your mindset and prioritize your savings first. Treat savings as a non-negotiable. Consider it a payment to your future self.

3. Prioritize Debt Repayment
The one exception to "pay yourself first" is your high-interest debt. It's hard to achieve financial stability if you carry debt, especially high-interest debt.

This isn't the right move for every situation, but for many people, it makes sense to prioritize debt repayment over savings because this can save you more money in the long run by reducing your total interest payments.

Of course, we at Phase 3 don't believe all debt is created equal, and paying off things like student loans or mortgages might not be the right move. In podcast episode 15 of The Year You Retire, Jim & John discuss this very topic - find it on Spotify or our website.

07/16/2026

Beware! Some of the most popular investment apps today are designed to encourage excessive trading. Research on the outcomes for these app users has been rather poor.

Individual stock-picking probably isn't your best strategy for achieving your long-term retirement goals. However, you might enjoy the thrill of picking a stock and seeing your pick win or lose. As long as your riskier activity is balanced with your long-term goals, you can have the best of both worlds.

When you're ready for a customized investment strategy that takes into account your love of the trading game, give me a call at (847) 520-5545 and we'll set up your complimentary strategy meeting. During that meeting we'll explore your goals & resources, then we'll develop a plan for exactly how to achieve your future goals without sacrificing the life you live today.

07/15/2026

One quick & easy way to estimate how much money you'll need in retirement is to figure it as a percentage of your current income. Current estimates say 60%-85% of your current annual income is usually a good starting point, but this will vary based on your specific situation.

Give us a call to schedule your free Discovery Call and let's get to work creating a plan for your ideal retirement.

P.S. You can find more ways to estimate your retirement income needs in episode 1 of The Year You Retire Podcast - look for it on your favorite podcast platform or at this link

Episode 1: What’s This Going to Cost Me?

07/14/2026

Attention parents of college kids and other adult children. Here are three forms you must have in place when your kids turn 18:

- HIPAA Release - so you can find out what's going on in case of a medical emergency
Medical POA - so you can make decisions about your child's care in case of a medical emergency
Financial POA - so you can access their accounts in case of emergency

While we don't want to think about worst-case scenarios, having these docs in place when your child leaves for college or get their first job can make unthinkable situations much easier to manage.

07/13/2026

Summer Tax Tip: Pull together everything from the first half of the year that you may need to file your taxes at the end of the year: last year’s tax return, 1099s, receipts, etc., and set them aside so they're ready to go come tax season!

07/10/2026

Want a Happy Retirement? Start with Your Top Five Core Pursuits. This article has more:

Discover why “core pursuits” matter more than money for retirement happiness—and learn a simple Top Five exercise to design a purpose-driven, thriving life after work.

07/09/2026

In honor of our nation's birthday, here's a look at 7 Americans who have driven change through innovation & ideas and have reshaped the face of work.

From Eli Whitney’s cotton gin to Ted Benna’s 401(k), these pioneers came up with ideas and innovations that still resonate today.

07/08/2026

As we continue to celebrate America's 250 this week, this article breaks down how Americans view our country's past, present, and future.

As America turns 250, This Economist/YouGov poll reveals an anxious and divided nation. What do you see?