Are You Ever Too Old For An Annuity?
Planning Matters Radio
How old is too old to buy an annuity? It typically doesn't make sense to buy one if you're under 50, and most insurance companies stop selling them once you hit 90. But as Americans live longer, our fear of outliving our savings has pushed sales of annuities to record highs. In fact, annuity sales topped $432 billion in 2024, but as Peter with Richon Planning and Erin Kennedy discuss, that doesn’t mean they’re right for everyone. In this interview, we break down: 🔹 When an annuity actually makes sense — and why timing is everything 🔹 The core problem annuities solve 🔹 How much...
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Are You Taking on Too Much Risk? 4 Signs to Watch 🚩
Planning Matters Radio
Risk isn’t just a number on a chart... it’s how you feel when markets move. If you’ve ever wondered whether your portfolio matches your true risk tolerance, Peter with Richon Planning and Erin Kennedy lay out four red flags to pay attention to: 🔹 You check your accounts constantly. How often is too often? If market swings dictate your mood, it may be time to reassess. 🔹 Market drops keep you up at night. The headlines are loud, and it’s hard to tune out the noise. 🔹 You’ve made panic-driven decisions before. Emotional investing is one of the biggest threats to long-term...
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3 Easy Ways to Jeopardize Your Retirement ⚠️💸
Planning Matters Radio
Most people are so focused on saving for retirement that they overlook the everyday habits that can derail it. According to Kiplinger, only 44% of Americans have calculated what they’ll need to live on in retirement, and without that number, it’s easy to overspend or take on risks that shrink your nest egg. In this week’s interview, Peter with Richon Planning and Erin Kennedy break down the three most common pitfalls pre-retirees face: 🚫 Maintaining Debt Many retirees carry credit cards, car loans, mortgages, sometimes totaling $55,000. We discuss why entering retirement debt-free is...
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Roth Conversions Under 59½: How to Avoid the 10% Penalty ⚠️💡
Planning Matters Radio
Thinking about a Roth conversion before age 59½? It can be a smart move... but only if you handle the tax bill the right way. As Peter with Richon Planning and Erin Kennedy explain, using retirement funds to pay those taxes could trigger a 10% early withdrawal penalty, and that’s a mistake we want younger investors to avoid. In this week’s interview, we break down: Why paying taxes with outside, after-tax money is essential How Peter helps clients decide if a Roth Conversion makes sense And why Roth conversions are so popular right now If you’d...
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Don’t Let the IRS Keep Your Money: 5 Tax Moves to Make Before Dec. 31
Planning Matters Radio
The end of the year is fast approaching, and so is the deadline for the tax moves that can lower your 2025 tax bill. In this video, Peter with RIchon Planning and Erin Kennedy break down the top five simple steps to help keep more money in your pocket, including: 1. Max Out Your 401(k) 2. Contribute to Your HSA 3. Max Out Your Roth IRA 4. Harvest Your Investment Losses 5. Donate to Charity This easy checklist can make a big difference come tax time. And keep in mind, it's never too late (or too early) to start thinking about how you can earn more and save more next year. And if you'd like to...
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Why 60% of Wealth Transfers Fail (and the Conversation Every Family Should Have This Holiday Season)
Planning Matters Radio
The holidays bring families together... multiple generations under one roof, to share stories and look ahead. And as Peter with Richon Planning explains to Erin Kennedy it’s also an ideal time to start meaningful conversations about family finances and the legacy you want to leave behind. The truth is, 60% of wealth transfers fail simply because families never talk about them. Opening the door to that conversation now can reduce stress later and help protect the people you care about most. If your family is ready to take that first step, Peter is here to help start that discussion and make...
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🎉 Seniors Will Get a Raise in 2026! Here’s What the New Social Security COLA Means for You
Planning Matters Radio
Good news for retirees! The Social Security Administration just announced a cost-of-living adjustment (COLA) of 2.8% for 2026 — that’s an average increase of about $56 per month starting in January. In this video, Peter with Richon Planning and Erin Kennedy break down: How inflation drives COLA increases What the 2026 bump means for retirees Why waiting to claim Social Security could still make sense The updated Earnings Test limits for those who keep working before full retirement age It’s not just a raise — it’s a reminder to...
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🏖️ 5 Signs You’re Ready to Retire Early (And How to Know You’re Really Ready)
Planning Matters Radio
Thinking about retiring early? You’re not alone — but before you trade your desk for the beach, it’s worth asking if you’re truly ready. A recent study from F&G Annuities and Life found that 54% of Gen X early retirees are considering “unretiring” — often because they weren’t fully prepared, financially or emotionally. In this video, Peter with Richon Planning and Erin Kennedy walk through 5 key signs you’re ready to retire early, including: You’re debt-free (and not just your mortgage) You have multiple income sources...
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💰 5 Steps to Tax-Free Roth IRA Distributions
Planning Matters Radio
The beauty of a Roth IRA is simple: pay the taxes now, enjoy tax-free income later. But when it’s time to withdraw your money, the rules can get tricky, and mistakes can cost you. In this video, Peter with Richon Planning and Erin Kennedy break down the five key steps to keep your Roth distributions tax-free, including: ✅ Follow the IRS ordering rules ✅ Remember: contributions are always tax- and penalty-free ⚠️ Watch for the 10% penalty on converted funds 📆 Understand when earnings qualify for tax-free treatment ⏰ Know how the five-year clock really works 🎥 Watch the full...
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🚨 Big 401(k) Change Ahead for High Earners 50+ 🚨
Planning Matters Radio
Starting next year, workers age 50 and older earning more than $145,000 will lose a major 401(k) tax break. As Peter with Richon Planning explains to Erin Kennedy, catch-up contributions that used to reduce taxable income must now be made after tax - as Roth contributions. That could mean less take-home pay today, but potentially tax-free withdrawals later. In this interview, Peter answers: 💬 What does this mean for your retirement strategy? 💬 Should you reconsider Roth vs. traditional contributions? 💬 And can strategies like Roth conversions or HSAs help offset the lost deduction? If...
info_outlineRoth accounts are one of the best ways to create tax-free money and generational wealth. They also offer some truly unique benefits when it comes to saving for retirement. In this video, Peter with Richon Planning and Erin Kennedy lay out 6 things you need to know about the Roth IRA:
1. Roth IRA Contributions Are Not Tax-Deductible But Grow Tax-Free
2. You Can Withdraw Roth IRA Contributions Out at Any Time
3. There’s No Age Limit For Contributions
4. There Aren’t Any Required Minimum Distributions
5. Annual Contribution Limits Are Fairly Low
6. There is an Income Cap
We are currently living in a historically low tax rate. Now is the time to consider contributing to a Roth, or possibly even converting some of your tax-deferred dollars into tax-free dollars. To crunch the numbers with Peter, please call (919) 300-5886 or visit www.RichonPlanning.com