Planning Matters Radio

Did you know some investments can generate income without triggering a big tax bill? From municipal bonds to tax-advantaged accounts, there are several smart ways to keep more of what you earn. In this interview, Peter with Richon Planning and Erin Kennedy walk through:  Municipal Bonds — why their interest is federally tax-free  Tax-Exempt Money Market Funds — and how they work  Series I & EE Bonds — interest that's free from state and local taxes  Treasury Bills — federal tax applies, but no state or local taxes And Why a Roth IRA might provide the biggest tax advantage of all Investing isn't just about growth, it's about keeping more in your pocket. If you'd like to learn how to pay less to Uncle Sam (while still following the law!), give Peter a call at (919) 300-5886 or visit www.RichonPlanning.com

Age 62 is the earliest you can claim Social Security benefits, but should you? In this video, Peter with Richon Planning and Erin Kennedy talk through what you gain and what you lose when you claim your benefits before Full Retirement Age, including:   Why claiming early means smaller monthly checks for life  How the Earnings Test could reduce benefits if you're still working  Why waiting can mean a bigger benefit... but that doesn't mean everyone should wait to claim According to Forbes, only 4% of people claim Social Security at the most "financially optimal" time. To make sure you're not part of the 96% who are missing out on what could be thousands, please call Peter at (919) 300-5886 or visit www.RichonPlanning.com to break down the trade-offs so you can make the choice that's right for you

Can you live on $4,000 a month? According to The Motley Fool, median monthly income for retirees is just over $4,100 a month. But determining whether YOU can live on that depends on where you live, your expenses, and your other income sources. And as Peter with Richon Planning explains to Erin Kennedy, it also depends on:   Location & cost of living  Monthly expenses & lifestyle choices  Other income sources (Social Security, pensions, investments)  Inflation & longevity To learn if $4,000 a month is truly enough for you, or to learn how to build an income plan that works for your retirement, please call Peter at (919) 300-5886 or visit www.RichonPlanning.com to design the retirement you want.

Big changes could be coming to your 401(k). A new Executive Order paves the way for riskier assets, like private equity, real estate, and even crypto, to be included in workplace retirement plans. But is this a good move for everyday investors? Peter with Richon Planning and Erin Kennedy break down the pros and cons, including:  What private equity really is  The risks vs. rewards of alternative investments  Why fees matter—and who really benefits  Who (if anyone) should consider these risky assets Saving for retirement is complicated. If you want to make sure you're invested according to your risk tolerance, while still taking advantage of cutting-edge investment options, please call Peter at (919) 300-5886 or visit www.RichonPlanning.com If you'd like to read President Trump's executive order, please click here: https://www.whitehouse.gov/presidential-actions/2025/08/democratizing-access-to-alternative-assets-for-401k-investors/  

Are you thinking about converting your term life policy to a whole life policy? Many people purchase term life insurance for the affordability and protection it offers during their working years. But as life changes, the question often comes up: should you convert your term life policy into a whole life policy? In this video, Peter with Richon Planning and Erin Kennedy break down what you need to know, including: ✅ The key differences between term and whole life ✅ Why some people choose to convert ✅ The potential costs and drawbacks ✅ How to know if it's the right move for you If you'd like to sit down with Peter to determine if converting your term life policey makes sense as part of your financial plan, of if you'd like to discuss the pros and cons of investing in a whole life policy, please call (919) 300-5886 or visit www.RichonPlanning.com  

Thinking about retirement? You might want to budget more for health care than you'd expect. A recent Wall Street Journal article highlights three big costs retirees tend to underestimate. In this video, Peter with Richon Planning and Erin Kennedy walk through these 3 (often overlooked) medical costs. They are: 1️⃣ Medications – especially new or non-generic prescriptions 2️⃣ Medical Isolation – higher costs in areas with limited access to care 3️⃣ Concierge Care – in some markets, doctors aren't accepting Medicare and instead are charging an annual fee (averaging $3,500) to be seen In retirement, healthcare isn't just about insurance. It's about planning ahead. If you'd like to sit down with Peter to discuss your best options for healthcare and build a plan that accounts for these "hidden" expenses, please call (919) 300-5886 or visit www.RichonPlanning.com

Listen to this: a new study from "Investing in the Web," tested ChatGPT with 100 finance questions. The result? More than one third of the answers were wrong or misleading. From saving for college to deciding if gold is a good investment, those mistakes could mean real losses in your wallet. In this video, Peter with Richon Planning and Erin Kennedy talk through:  Where AI goes wrong with money questions  When it's actually safe to use it  Why your financial future deserves human expertise AI is a great tool for research, but when it comes to your money, nothing beats a qualified human advisor who understands your unique situation. If you'd like to talk through your financial concerns and questions, and get answers that are personally tailored to your unique goals, please call Peter at (919) 300 - 5886 or visit  www.RichonPlanning.com

New data shows a clear link between retiring with confidence and having a financial plan. In this video, Peter with Richon Planning and Erin Kennedy break down a recent study that found only 19% of adults have a retirement strategy in place — but those who work with a financial professional are twice as likely to save, plan, and feel confident about reaching their goals (84% vs. 58%).   They also discuss other key insights from the 2025 Wealth Watch including:  Why are fewer Americans saving for retirement?  How can a financial plan help you stay ahead of inflation and debt?  Source: New York Life Wealth Watch 2025 If you would like help creating a financial plan that will help you retire with more money and more confidence, reach out to Peter by calling (919) 300 - 5886 or visit www.RichonPlanning.com

Big changes are on the horizon, and they could affect your retirement income, taxes, and estate plan. In this video, Peter with Richon Planning and Erin Kennedy break down what's in the new legislation (aka the "big beautiful bill") and how retirees can prepare now to take advantage of the benefits or avoid potential pitfalls. Two of the biggest takeaways affecting retirees: a possible reduction in your taxable income and a longer runway to take advantage of today's historically low tax rate, i.e. it's still a great time to consider a Roth Conversion. If you'd like to talk through these changes with Peter, please call (919) 300-5886 or visit www.RichonPlanning.com 

Roth 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

You can't save your way to rich. Saving is crucial for financial security and short-term goals, but it's usually not enough to build wealth. Which is why, when it comes to building wealth, there's a general order of operations. Peter with Richon Planning and Erin Kennedy break down that order, which is:    1. Get that 401(k) match 2. Build your emergency fund in a HYSA 3. Max out your Roth IRA. 4. Max out your HSA and 401(k) 5. Invest outside retirement   That being said, while this order is a great rule of thumb, it might not be right for you. Depending on your unique goals and investing opportunities, your list might be a bit different. To learn how and where you should be investing, please call Peter at (919) 300-5886 or visit www.RichonPlanning.com    

Join Peter Richon on Dash Town — highlighting local businesses making an impact in Fuquay! We sat down with Barbara Patterson, Regional Director, and Meike Weist, Care Manager and Guardian Supervisor with Arosa, a care-managed agency providing in-home caregiving and professional care management for seniors. Barbara and Meike work out of the Fuquay-Varina office, serving families across the Triangle and supporting Arosa's broader mission to improve quality of life for both clients and caregivers nationwide. With a focus on holistic, person-centered care, Arosa brings together trained caregivers and experienced care managers to help older adults age with dignity, safety, and independence. Whether it's coordinating long-term care, supporting guardianship needs, or providing hands-on help at home, Barbara and Meike bring expertise and heartfelt dedication to every case they manage. To learn more about Arosa or inquire about services, call (919) 567-8200 or visit arosacare.com.Dash Town: Barbara Patterson and Meike Weist | Arosa

Financial advisor Peter Richon of Richon Planning speaks with Kristin Williams, Executive Vice President of Advanced Tax Planning at Succession Capital. Their conversation explores how advanced tax and estate planning strategies can support long-term financial organization and decision-making. They cover topics such as trust structures, business transitions, multi-generational planning, and the coordination of tax and estate strategies. Kristin offers perspective on how individuals and families can approach complex planning needs with greater clarity, especially when managing significant assets or preparing for future transitions. This discussion highlights ways to think more strategically about wealth, legacy, and structure—both during life and beyond. For questions, contact Peter at (919) 300-5886 or visit www.RichonPlanning.com.

The Countdown to retirement continues! As you get closer to retirement, a lot of questions start popping up, but two stand out as the most important to answer before you hand in your notice. As Peter with Richon Planning explains to Erin Kennedy, those two questions are:   1. What single financial risk could make the biggest impact on your retirement? 2. How can you eliminate the possibility of this risk ruining your retirement income?   If you'd like to learn how to prepare for a retirement with no known end date, or if you'd like Peter to stress test your income plan, 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.   

The Countdown to Retirement continues! Listen to this: according to Fidelity, the average 65-year-old couple will need nearly $315,000 for healthcare in retirement, not including long-term care. But as Peter with Richon Planning and Erin Kennedy discuss, long-term care, isn't a "maybe" it's likely; 7 out of ten people will need long-term care at some point, and it's not covered by Medicare. Here are your options:   1. Traditional Long-Term Care Insurance 2. Linked Benefits 3. Self-Insure 4. Become a Dependent   Of course, certain options are better than others. But determining what's right for you, can be difficult.   If you'd like to find out which option is best for you, 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. 

We've made it to the top 3 in our Countdown to Retirement! In this video, Peter with Richon Planning and Erin Kennedy talk through the three biggest expenses you'll see in retirement; be sure these expenses are in your plan, or you may run out of money! 1. Largest Known Expense: Taxes  2. Largest Potential Expense: Healthcare 3. The Silent Thief: Inflation The only way to combat the possibility of expenses exceeding assets is to have a written income plan for retirement. 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. 📚 

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 www.RichonPlanning.com   SOURCE: https://www.kiplinger.com/retirement/the-biggest-stealth-costs-in-retirement

Our Countdown to Retirement continues! To help you get ready for retirement, Peter with Richon Planning has created a great resource at www.RichonPlanning.com 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 www.RichonPlanning.com, or call Peter at (919) 300 - 5886.  #RetirementPlanning #FinancialSecurity #WealthManagement #IncomePlanning #SocialSecurity #RetirementIncome #LongTermCare

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

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. 📚