Planning Matters Radio

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 co...

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 th...

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...

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...

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-...

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" ...

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...

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 financia...

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...

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...

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...

‎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...

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"...

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 a...

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...

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. ✅ Defin...

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 li...

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 Universi...

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 Invest...

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...

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...

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 t...

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 m...

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...

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 regul...