Planning Matters Radio
An independent financial, investment, and retirement planner. Identifying opportunities and protecting what's important. We help you protect your paycheck through all walks of life and manage assets to help you achieve your retirement goals.
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Hidden Budget Busters: How Stealth Costs Can Derail Your Retirement (And What to Do About It)
07/05/2025
Hidden Budget Busters: How Stealth Costs Can Derail Your Retirement (And What to Do About It)
According to this recent study from @Kiplinger (include source article), 43% of retirees are more financially stressed than when they were working and surprise expenses are a major reason why. In this video, @peter with @richonplanning and @erinkennedy break down the top 5 expenses, including: 1. Healthcare: Often the biggest, and most unpredictable, retirement expense. Even with Medicare, out-of-pocket costs for chronic care, surgeries, and prescriptions can be substantial. 2. Taxes: Retirees often assume they'll be in a lower tax bracket when the stop working, but that's not often the case. 3. Emergencies: If you don't have a cash cushion, when the unexpected happens, it can derail your finances. 4. Family: A record number of parents, 50% according to a report from Savings.com, are financially supporting their adult children, with the average support around 15 hundred dollars a month! That includes expenses like groceries, cell phone bills, rent, health insurance, and even vacations. 5. Inflation: Your retirement can last as long as our working years. If you don't have a plan to help your money grow, your nest egg won't keep up. The good news is, you can create a plan now that addresses each one of these expenses, so they don't derail your retirement. If you'd like to talk through these "budget busters" with Peter, please call (919) 300-5886 or visit SOURCE:
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Countdown to Retirement: Five Planning Mistakes to Avoid
06/28/2025
Countdown to Retirement: Five Planning Mistakes to Avoid
Our Countdown to Retirement continues! To help you get ready for retirement, Peter with Richon Planning has created a great resource at that anyone can download, keep, and read at their own pace. In this video, he and Erin Kennedy talk through the top 5 planning mistakes. They are: 1. Not having a "GRIP" on your retirement 2. Taking inappropriate risks 3. A "gross" planning mistake (hint: taxes) 4. Not caring enough to plan for long-term care 5. Not Optimizing Social Security Ready to take action? Download “The Countdown to Retirement”—a guide that challenges conventional wisdom and helps you craft a plan that safeguards your lifestyle, comfort, and peace of mind. And don't forget to check out the other videos in this special series, as we Countdown to Retirement! Visit , or call Peter at (919) 300 - 5886. #RetirementPlanning #FinancialSecurity #WealthManagement #IncomePlanning #SocialSecurity #RetirementIncome #LongTermCare
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The 5 Best Times for a Roth Conversion
06/21/2025
The 5 Best Times for a Roth Conversion
Retirees who want to reduce their taxes in retirement can benefit from strategic conversions and transfers between traditional and Roth IRAs. As Peter with Richon Planning explains to Erin Kennedy identifying those key windows for Roth conversions can lead to significant tax advantages and a bigger nest egg! The top 5 times to consider a conversion are: 1. During Market Downturns 2. Anticipation of Tax Bracket Changes 3. Between Retirement and RMD Age 4. Experiencing a Low Income Year 5. Planning for Your Heirs Keep in mind, taxes are set to increase at the end of 2025. Now is the time to crunch the numbers and determine if a Roth Conversion is right for you. To walk through the pros and cons, and the tax implications, give Peter a call at (919) 300-5886 or visit www.RichonPlanning.com
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The 6 Core Issues Every Plan Should Address
06/14/2025
The 6 Core Issues Every Plan Should Address
The Countdown to Retirement continues! A solid financial plan isn’t just about investments, it should cover six key areas that impact your entire financial life. As Peter with Richon Planning explains to Erin Kennedy, if even one is missing, your plan may fall short. Those 6 issues are: 1. Is my plan aligned with my goals? 2. Income 3. Investments 4. Taxes 5. Healthcare 6. Legacy If your financial plan doesn't include these 6 issues, it might be time to get a second opinion. Ready to take action? Download “The Countdown to Retirement”—a guide that challenges conventional wisdom and helps you craft a plan that safeguards your lifestyle, comfort, and peace of mind. And don't forget to check out the other videos in this special series, as we Countdown to Retirement! Visit www.RichonPlanning.com, or call Peter at (919) 300-5886. 📚
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The 7 Biggest Financial Myths and the Truth Behind Them
06/07/2025
The 7 Biggest Financial Myths and the Truth Behind Them
The Countdown to Retirement Continues! Some of the most common beliefs about money, retirement, and investing are myths and believing in them can really hurt your financial future. In this video, Peter with Richon Planning and Erin Kennedy break down the 7 biggest financial myths, including: -The market always goes up -The market averages 10% a year -The 4% rule works for retirement withdrawals -My taxes will be lower in retirement -I don’t need life insurance once I retire -My investments alone will cover retirement -It’s too late to plan- I don’t have enough If you'd like to talk to Peter to learn more about these common myths and misconceptions, now is a great time to call! Ready to take action? Download “The Countdown to Retirement”—a guide that challenges conventional wisdom and helps you craft a plan that safeguards your lifestyle, comfort, and peace of mind. And don't forget to check out the other videos in this special series, as we Countdown to Retirement! Visit , or call Peter at (919) 300-5886. #RetirementPlanning #FinancialSecurity #WealthManagement #IncomePlanning
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How to Protect Your Retirement Savings Now as Markets Plunge
05/31/2025
How to Protect Your Retirement Savings Now as Markets Plunge
If you’re within five years of retiring, either before or after, you’re at your most vulnerable financially. Retiring in a down market presents a very unique risk known as "sequence of returns risk." In this video, Peter with Richon Planning and Erin Kennedy break down the top 5 steps to weather the volatility. 1. Build a Cash Cushion: protect against Sequence Risk 2. Fix Your Mix (a little): adjust your portfolio according to your risk tolerance 3. Adjust Your Spending: both expenses and withdrawal rate 4. Work a Little Longer: it means sustainable income and the chance to delay claiming Social Security 5. Consult an Advisor: a holistic financial plan will be tailored to your goals and will protect against volatility If you'd like to talk through this volatility to make sure you have a plan that accounts for market downturns, or even capitaizes on them, please call Peter at (919) 300-5886 or visit #Retirement #SocialSecurity #SustainableIncome #MarketVolatility
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Countdown to Retirement: 8 Moments to Move Your Money
05/24/2025
Countdown to Retirement: 8 Moments to Move Your Money
There are times when moving your money isn’t just a good idea, it’s necessary. Figuring out *when can help you protect your investments, reduce your taxes, and stay aligned with your long-term goals. In this video, Peter with Richon Planning and Erin Kennedy detail the 8 moments you should move your money. They are: -Rebalancing -Roth conversions -Age 59 1/2, the in-service distribution -Leaving a job -Fees are too high -Under performing -Your time horizon has changed -Consolidating accounts Ready to take action? Download “The Countdown to Retirement”—a guide that challenges conventional wisdom and helps you craft a plan that safeguards your lifestyle, comfort, and peace of mind. And don't forget to check out the other videos in this special series, as we Countdown to Retirement! Visit www.RichonPlanning.com, or call Peter at (919) 300-5886. 📚
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Laid Off? Consider these 4 Action Steps
05/17/2025
Laid Off? Consider these 4 Action Steps
As of April , about 60,000 people have been laid off or fired, including thousands more at U.S. health agencies. With the markets rattled and a potential recession on the way, a lot of people are worried about their job right now. In this video, Peter with Richon Planning and Erin Kennedy outline 4 action steps you should take if you've been laid off, or if you're concerned you might be: File for Unemployment Update Your Resume Review Your Severance, Final Paycheck, and Unpaid PTO Review Your 401(k) and other Retirement Accounts If you've been affected by these layoffs, please reach out to your support system and consider speaking with a financial advisor who can help guide you through this time and suggest the best next steps. If you'd like to speak with Peter about how this could affect your savings and your financial goals, please call (919) 300-5886 or visit www.RichonPlanning.com
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Understanding the New RMD Rules for 2025
05/10/2025
Understanding the New RMD Rules for 2025
New rules for Required Minimum Distributions could catch retirees off guard—especially if you're turning 73 this year. One key headline: RMDs now have to be the first money out of your account. From stricter timing requirements to steeper penalties, the IRS is cracking down. In this video, Peter with Richon Planning talks through the new rules with Erin Kennedy, including: -What “first money out” means for your accounts and rollovers -Why QCD timing is more important than ever -The costly mistake 73-year-olds need to avoid If you'd like to make sure you’re ready for these 2025 changes, or if you'd like to discuss other strategies to minimize the tax burden that comes with Required Minimum Distributions, please give Peter a call at (919) 300-5886 or visit www.RichonPlanning.com
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9 Critical Risks That Could Derail Your Retirement—Are You Prepared?
05/03/2025
9 Critical Risks That Could Derail Your Retirement—Are You Prepared?
When it comes to retirement, saving enough is only part of the equation. You also need to plan for the risks that could derail your financial future. In this video, Peter with Richon Planning and Erin Kennedy break down the 9 Critical Risks You Need to Plan For: ✅ Sequence Risk – How market downturns early in retirement can deplete your savings. ✅ Legislative Risk – The impact of changing laws and policies. ✅ Withdrawal Rate Risk – Is the 4% rule still relevant? ✅ Healthcare Costs & Long-Term Care – Likely your biggest expense. ✅ Spousal Income Changes – How losing a spouse affects income. ✅ Market Volatility – The impact of timing and market swings. ✅ Taxation – Strategies to keep more of what you’ve saved. ✅ Inflation – The silent threat that erodes purchasing power. ✅ Longevity – How living longer amplifies all these risks. Ready to take the next step? Download “The Countdown to Retirement”—a comprehensive guide that encourages you to rethink conventional wisdom and consider planning strategies that protect your lifestyle, comfort, and peace of mind. Head to www.RichonPlanning.com, or call Peter at (919) 300-5886.
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3 Financial Planning And Investment Opportunities In A Down Market
04/26/2025
3 Financial Planning And Investment Opportunities In A Down Market
Recently, stocks closed out their worst quarter since 2022. The S&P 500 and the Nasdaq logged their worst performance since Russia’s invasion of Ukraine. While these headlines can be upsetting, as Peter with Richon Planning explains to Erin Kennedy, the market downturn can also provide some very specific opportunities for smart investors, including: Put Your Cash to Work – Lower valuations let you buy quality investments at a discount for long-term gains. Consider Tax Loss Harvesting – Selling at a loss can offset taxes now or in the future, turning dips into tax savings. Roth Conversions – Converting in a down market means paying less tax now and maximizing future tax-free growth. If you'd like to learn how to take advantage of this market downturn, please feel free to give Peter a call at (919) 300-5886 or visit www.RichonPlanning.com
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10 Steps to Prepare for Retirement—Are You Ready?
04/19/2025
10 Steps to Prepare for Retirement—Are You Ready?
The “retirement red zone” is the 5 years before and after retirement—a critical time when your decisions about investments, income, and risk can have a lasting impact on your retirement security. In this video, Peter with Richon Planning and Erin Kennedy zero in on the 10 Steps to Prepare for Retirement: ✅ Define Your Budget – Why knowing what you’ll spend is the foundation of your plan. ✅ Define Your Sources of Guaranteed Income – Create a predictable income stream. ✅ Define Your Income Gap – Identify how much more you’ll need to cover expenses. ✅ Strategize on Social Security – One of the biggest decisions you’ll make in retirement. ✅ Formulate an Income Plan – Bridge the gap between income and expenses. ✅ Understand Your Risk Exposure – How much risk is too much as you approach retirement? ✅ Consider Taxes – Plan ahead for what may be one of your biggest expenses. ✅ Consolidate “Like-Qualified” Accounts – Simplify your retirement portfolio. ✅ Consider Inflation – Protect your purchasing power over time. ✅ Review & Update Your Legal Documents – Why this final step is crucial for protecting your wishes. Ready to take action? Download “The Countdown to Retirement”—a guide that challenges conventional wisdom and helps you craft a plan that safeguards your lifestyle, comfort, and peace of mind. Visit www.RichonPlanning.com, or call Peter at (919) 300-5886. 📚
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4 Recreational Retirement Expenses You Can't Afford to Ignore
04/12/2025
4 Recreational Retirement Expenses You Can't Afford to Ignore
Once people retire, their spending habits often change. Housing, healthcare, and groceries will still make up a significant part of your budget, however, as Peter with Richon Planning explains to Erin Kennedy since retirement often means more free time, you'll probably be spending more "fun money" on these common expenses: 1. Travel 2. Recreational Vehicles 3. Vacation Home 4. Hobbies If you'd like to talk with Peter to create a realistic retirement spending plan that accounts for your own unique retirement goals, please call (919) 300-5886 or visit www.RichonPlanning.com
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Dash Town: Sarah Wills | Spray Net
04/10/2025
Dash Town: Sarah Wills | Spray Net
Join Peter Richon on Dash Town — highlighting local businesses making an impact in Fuquay! Today, we visit with Sarah Wills, who works in sales for Spray-Net, a home improvement company specializing in exterior painting and kitchen cabinet refinishing. She holds Bachelor's degrees in International Studies and Spanish with focus areas in Latin American Studies and Ethnobiology from Capital University. Her experience includes 18 years of leadership across multiple industries, 7 years of recruiting, and 5 years in sales, as well as time as a Scrum Master, where she helped teams improve collaboration and efficiency. She integrates her background in customer service and restaurant management to create meaningful connections and deliver standout experiences. At Spray-Net, Sarah uses her experience to help homeowners transform their spaces through customized exterior painting and kitchen cabinet refinishing, offering durable, factory-quality results with a personalized touch. To learn more or get an estimate, you can call (919) 759-6363
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Recession Proof Investing: 4 Tips for Investing During Market Volatility
04/05/2025
Recession Proof Investing: 4 Tips for Investing During Market Volatility
Investing during market volatility or downturns requires a very different approach. In light of recent volatility and stubborn inflation rates, Peter with Richon Planning and Erin Kennedy walk through a few tips, including: -Is Cash Really King? -Defensive Stocks: healthcare, utilities, and consumer staples like food and beverages are fairly recession proof -Dividend Stocks and Fixed Income Investments like Bonds and Structured Notes -Keep Investing, a strategy known as Dollar Cost Averaging If you'd like to speak with Peter to create a financial plan that can withstand volatility, or if you'd just like to talk through these recent headlines, feel free to give him a call at (919) 300-5886 or set up a complimentary appointment by visiting www.RichonPlanning.com
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Your 401(k) is NOT a Retirement Plan
03/29/2025
Your 401(k) is NOT a Retirement Plan
Everyone's most favorite retirement account, the 401(k), is a great way to save, but it is just a tool, not a strategy. As Peter with Richon Planning explains to Erin Kennedy, without proper planning, you could face unexpected taxes, income gaps, and market risk. There's a reason 401ks are known as tax time bombs: beyond being tax-deferred (which means you will pay taxes at an unknown and probably higher rate in the future), the Required Minimum Distributions can push you into a higher tax bracket in retirement. We are living in a historically low tax rate right now, and taxes are set to increase at the end of 2025. If you'd like to work with Peter to create tax-free income in retirement, please call (919) 300-5886 or visit www.RichonPlanning.com
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Should I Consider a Roth Conversion before I Stop Working?
03/22/2025
Should I Consider a Roth Conversion before I Stop Working?
Roth Conversions can be one of the best strategies to create tax-free income in retirement. And those accounts can grow tax-free indefinitely because they don't have required minimum distributions. In this video, Peter with Richon Planning and Erin Kennedy talk through the pros and the cons of converting your tax deferred accounts to Roth accounts while you're still working. Keep in mind, when you convert those funds, you'll need to pay the taxes upfront, and it's best if you can pay that bill in cash (pro: if you're working, you may have more financial flexibility). But keep in mind, those dollars are also counted as taxable income, which, without proper planning, could push you into a higher tax bracket. There is no cookie-cutter answer to this question; the answer will depend on your current tax bracket, your projected future tax bracket, and your unique financial circumstances. If you'd like to crunch the numbers with Peter, please call (919) 300 - 5886 or visit www.RichonPlanning.com
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Why DIY Investors Earn Less
03/15/2025
Why DIY Investors Earn Less
According to @Vanguard's "Advisor’s Alpha" study, a good financial advisor can add about 3% in net returns *per year* through behavioral coaching, asset allocation, rebalancing, and tax planning. In this video, Peter with Richon Planning and Erin Kennedy discuss, in detail, the reasons behind that performance gap. DIY investors often underperform the market because they tend to react emotionally to market movement versus sticking to a risk appropriate financial plan. For more information, please read this study by @DALBAR titled Investor Behavior Continues to Hinder Returns. hyperlink https://www.dalbar.com/Portals/dalbar/Cache/News/PressReleases/QAIB2024_PR.pdf A good financial advisor should provide concrete value to clients, beyond just portfolio returns. If you'd like to have a no obligation chat with Peter to determine if you could benefit from having a personalized financial plan, give him a call at (919) 300-5886 or visit www.RichonPlanning.com
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The 6 Questions You Should ask Your Advisor Before You Retire
03/08/2025
The 6 Questions You Should ask Your Advisor Before You Retire
Before you retire, there are very specific questions you should ask your advisor. In this video Peter with Richon Planning and Erin Kennedy talk through those questions, which, when answered, can give you a much clearer picture as to whether you are really ready to retire. Those questions are: 1. Am I financially ready to retire? 2. What income sources will I rely on in retirement? 3. How can I minimize taxes on my retirement income? 4. What adjustments should I make to my investment portfolio? 5. Do I have enough saved to account for inflation and unexpected expenses? 6. Do I have a plan for long term care? And keep in mind, if your advisor can't answer these questions, it might be time for a new advisor. If you feel like you're ready to retire, but would like to talk it through with a professional, please give Peter a call at (919) 300-5886 or visit www.RichonPlanning.com
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Are You Tax-Ready for Retirement?
03/01/2025
Are You Tax-Ready for Retirement?
Taxes don’t disappear in retirement. In fact, understanding tax implications becomes even more important when you're retired. In this video, Peter with Richon Planning and Erin Kennedy talk through the 4 tax questions you should ask your financial advisor before retiring, including: 1. How will my tax situation change once I retire? 2. Are there strategies to reduce my tax liability in retirement? 3. Should I consider a Roth conversion before I stop working? 4. What are the tax implications of withdrawing from my various accounts? If you'd like to learn if you're tax-ready for retirement, please give Peter a call at (919) 300-5886 or visit www.RichonPlanning.com
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5 Investing Mistakes You May be Making Right Now
02/22/2025
5 Investing Mistakes You May be Making Right Now
Investing can seem complex and confusing, and you may wonder whether you're doing all you can to achieve your goals. In this video, Peter with Richon Planning and Erin Kennedy talk through 5 mistakes you might be making and how to turn things around. Here are those mistakes: 1. Getting out when the going gets tough 2. Taking on too much (or too little) risk 3. Not rebalancing your portfolio regularly 4. Paying too much in taxes 5. Not seeking professional advice As for that last mistake, ask yourself: Do I have the skills to do this? Do I have the time to do this? And, maybe most importantly, do I want to do this? If the answer is 'no' to any or all of those, it may be worth asking for some advice. If you'd like a second opinion on your plan, or to find out if you're on track, please call Peter at (919) 300-5886 or visit www.RichonPlanning.com
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Millions of Public Workers are Set to Get Higher Social Security Benefits
02/15/2025
Millions of Public Workers are Set to Get Higher Social Security Benefits
A new bill, called the Social Security Fairness Act, was just signed into law and will increase payments for nearly 3 million current and former public employees. As Peter with Richon Planning explains to Erin Kennedy, the law repeals the Windfall Elimination Provision and the Government Pension Offset, which limited benefits for recipients with other pensions. That means teachers, firefighters and police officers, among other public-sector occupations, will soon receive benefits in the full amount. If you think you may be eligible for the Social Security Fairness Act benefits, please reach out to Peter to talk through the changes you can expect. You can set up a complimentary appointment by calling (919) 300-5886 or visit www.RichonPlanning.com
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Dash Town: Colton Owczarzak | Iron Varsity
02/12/2025
Dash Town: Colton Owczarzak | Iron Varsity
Join Peter Richon on Dash Town - highlighting local businesses making an impact in Fuquay! Today, we visit with Colton Owczarzak, owner of Iron Varsity, a physical therapy and sports performance business dedicated to helping athletes move, recover, and perform at their best. Colton holds a Doctorate in Physical Therapy from High Point University and a Bachelor’s in Exercise Physiology from California State University - Chico. His experience includes working at EXOS, where he provided care for NFL, NBA, and MLB athletes, as well as time at Cincinnati Children's Hospital, specializing in orthopedic rehab for young athletes. As the former Director of Clinical Services at Youngs PT and Sport Performance, he worked with athletes of all levels to improve movement and recovery. At Iron Varsity, Colton uses his experience to help athletes build strength, recover from injuries, and perform at their best. To learn more or schedule an appointment, you can reach him at [email protected] or call (919) 285-4596.
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Navigating Tax Season: Tips for a Stress-Free Filing
02/08/2025
Navigating Tax Season: Tips for a Stress-Free Filing
It's that time of year, time to get ready for tax day. Yes, it's stressful, but as Peter with Richon Planning explains to Erin Kennedy, with a little bit of preparation, it doesn't have to be. To set yourself up for success and a stress-free filing, Peter outlines: -The steps you should take now to ensure you’re fully prepared for tax season -How to avoid common tax filing mistakes -How to maximize deductions and credits If you'd like help getting prepared for tax day, or if you'd like a second set of eyes on your return before you file, please feel free to reach out to Peter by calling (919) 300-5886 or visit www.RichonPlanning.com
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Are Annuities the Right Fit for Your Financial Plan?
02/01/2025
Are Annuities the Right Fit for Your Financial Plan?
Annuity sales set new records in 2024. In the first nine months of the year, we saw a 23% increase to $331.2 billion! In this video, Peter with Richon Planning and Erin Kennedy walk through why annuity sales have seen a huge jump in sales, and they discuss whether the Fed's decision to lower interest rates will affect their returns. People often turn to annuities to create sustainable income in retirement. If you'd like to learn more about annuities, how they're taxed, and whether they make sense as part of your financial plan, or if you'd like a second opinion about an annuity you recently bought, please reach out to Peter by calling (919) 300 - 5886 or visit www.RichonPlanning.com
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4 Paths to a Roth IRA for High Income Earners
01/23/2025
4 Paths to a Roth IRA for High Income Earners
Roth IRAs are a great way to create wealth. Roths offer tax-free withdrawals of contributions and earnings in retirement. Plus, that money can grow tax-free indefinitely because Roths are not subject to required minimum distributions. However, as Peter with Richon planning explains to Erin Kennedy, there is a catch: you can only contribute to a Roth IRA if your income is below $165,000 for single filers and under $246,000 if you filed married. If you're over that limit, there are still 4 ways to contribute to your Roth account, including: 1.Roth 401(k) 2. Roth conversion 3. Backdoor Roth 4. Mega-backdoor Roth IRA Some of these strategies are more complex than others, so if you're above those income limits and are considering one of these strategies, please reach out to Peter by calling (919) 300 - 5886 or visit www.RichonPlanning.com
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What is a Good Monthly Retirement Income?
01/18/2025
What is a Good Monthly Retirement Income?
According to the @Bureau of Labor Statistics, the average annual expenses for people 65 plus in 2021 was about $52,141.00, which works out to about $4,345 a month. But as Peter with Richon Planning explains to Erin Kennedy, no two people are alike, so figuring out how much money YOU will need depends on your lifestyle and your unique retirement goals. To determine what you'll need for a comfortable, monthly retirement income, first walk through these prompts: 1. Picture your ideal retirement 2. Create a spending plan 3. Consider common risk factors 4. Build a robust nest egg 5. Create a legacy plan nb If you'd like to speak with Peter to build a personalized retirement plan that addresses your unique goals, please give him a call at (919) 300 - 5886 or visit www.RichonPlanning.com
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Use the 529 'Grandparent Loophole' to Maximize College Savings
01/11/2025
Use the 529 'Grandparent Loophole' to Maximize College Savings
For the first time this year, on the 2024-25 FAFSA, students are no longer required to report cash gifts from a grandparent or contributions from a grandparent-owned 529 savings plan. As Peter with Richon Planning explains to Erin Kennedy, that means, grandparents can now use a 529 plan to fund a grandchild's education without impacting the child's financial aid eligibility. Peter also walks through the benefits of contributing to a 529 plan, including perhaps the biggest perk following the passage of the SECURE Act 2.0: up to $30,000 of unused funds in a 529 account can be rolled over into a Roth IRA for your grandchild, giving him or her a leg up on retirement planning! If you'd like to talk about how to open a 529 account, or if you'd like to learn about other ways to help your grandchildren financially, please call Peter at (919) 300 - 5886 or visit www.RichonPlanning.com
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The One Money Move that Could Add Years to Your Nest Egg
12/28/2024
The One Money Move that Could Add Years to Your Nest Egg
Let's address the number one fear of most retirees: running out of money. One way to make your nest egg last longer... figure out how to keep all of it in your pocket, as opposed to sharing it with the government. In this video, Peter with Richon Planning explains to Erin Kennedy how converting your tax deferred accounts to Roth accounts can add years to your retirement nest egg. Not only will you likely pay less in taxes in retirement you'll reap other advantages like keeping your provisional income lower, which could decrease the taxes you pay on your Social Security benefit. Now is the time to consider Roth Conversions; we are living in a historically low tax rate, and those rates are set to increase at the end of 2025. To crunch the numbers with Peter, please call (919) 300 - 5886 or visit www.RichonPlanning.com
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Is Now a Good Time to Redeem Your I Bond?
12/21/2024
Is Now a Good Time to Redeem Your I Bond?
Back in 2022 when inflation was through the roof, we were able to buy I Bonds, or inflation bonds, with a 9.6% return! Now though, the rate of return is just over 3%. In this video, Peter with Richon Planning and Erin Kennedy discuss whether investors should redeem those I Bonds and invest in something else. The short answer is yes. There are several places you can put your money right now that are considered "low risk" and still have a higher rate of return than 3%. That being said, if you sell your I Bond before its 5-year maturity date, you will lose the last 3 months' interest. If you'd like to crunch the numbers with Peter, and discuss alternate investments, please call (919) 300 - 5886 or visit www.RichonPlanning.com
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