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...

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...

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 P eter 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  out...

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 ea...

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...

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, P eter 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...

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, P eter with Richon Planning and Erin Kennedy walk through...

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- an...

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: 💬 Wha...

The Social Security trust fund is projected to be insolvent by 2033, and by 2035, benefits could be reduced by 23% if no action is taken. As Peter with Richon Planning and Erin Kennedy explain, that means future retirees may only receive about 77% of promised benefits... a potential shortfall that could cost the average worker $138,000 in lost income! 💡 What can you do now? ✔️ Max out your retire...

According to the Transamerica Center for Retirement, more than one-third of workers have taken a loan, early withdrawal, or hardship withdrawal from their 401(k). It might feel like "borrowing from yourself," but as Peter with Richon Planning and Erin Kennedy explain, it can come with long-term consequences: missed market growth, double taxation, and a smaller nest egg when you need it most. In ou...

You've heard of  asset allocation,  but what about  asset location ?   Where you hold your investments can be just as important as what you invest in when it comes to lowering your tax bill. In this new conversation,  Peter with RichonPlanning and erinkennedy break down 4 simple but powerful strategies that could help keep more of your money working for you:  Traditional vs. Roth IRAs and their un...

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...

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 m...

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 P eter with Richon Planning explains to Erin Kennedy, it also depends on:   Location & cost of living  Monthly expenses & lifestyle choices  Other in...

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...

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...

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 – hi...

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 mone...

New data shows a clear link between retiring with confidence and having a financial plan. In this video, P eter 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 als...

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 i...

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...

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....

The Countdown to Retirement continues! Now, for the number one, most important factor determining your retirement success: income. Your income, not your account balance, is what determines your quality of life in retirement. According to a study by the Alliance for Lifetime Income, 80% of retirees with protected lifetime income say they're confident they won't outlive their money , compared to jus...

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 Triangl...