It’s been a long time since we’ve seen inflation-adjusted interest rates above zero. Since the Fed began hiking interest rates, investors can once again earn attractive returns on cash. But as Peter with Richon Planning explains to Erin Kennedy, you may be earning less money than you think after accounting for inflation and taxes. Instead of socking your money away in CDs, treasuries, or Money Market accounts, Peter suggests you consider Buffered ETFs, which can offer full principal protection. ...
Dec 20, 2023•10 min•Season 2023Ep. 1220
The third quarter of 2023 saw record growth in annuity sales: $89.4 billion! That's an 11% jump over the same quarter last year. Here's one reason why: recent interest rate hikes. When interest rates rise, that often means better returns on annuities, especially for fixed and fixed index annuities. Peter with Richon Planning explains the correlation to Erin Kennedy, while outlining why annuities could make sense as part of your larger financial plan. Annuities function as a private pension. They...
Dec 16, 2023•13 min•Season 2023Ep. 1216
The 3.2% cost of living adjustment reflects another year of high inflation. However, we now know we'll be paying almost 6% more for Medicare Part B! That doesn't mean you'll see a smaller SS check in January, but if you're wondering how this will affect you, Peter with Richon Planning and Erin Kennedy walk through these questions: -Does the COLA affect when we should claim our Social Security benefits? -How does this jump in the cost of Medicare Part B affect my Social Security check? -Does this...
Dec 09, 2023•9 min•Season 2023Ep. 1209
The IRS recently announced that we'll be able to sock away a lot more money for retirement starting in 2024. These increases are in line with an increased cost of living. In this video, Peter with Richon Planning and Erin Kennedy break down those changes, and Peter explains how to prioritize your retirement savings. If you'd like to talk through how to prioritize saving for your retirement, or if you'd like to find out if you're properly tax-diversified, please feel free to reach out to Peter by...
Dec 02, 2023•7 min•Season 2023Ep. 1202
People who are wealthy have much more than money to consider when it comes to estate planning and generational wealth transfer. For the wealthy, the stakes are often higher, the mistakes are magnified, and all members of the family have an incentive (and often the means) to litigate if things don’t go their way. In this video, Peter with Richon Planning and Erin Kennedy discuss five documents that every wealthy person should have in order to protect his or her wealth and the harmony of the famil...
Nov 04, 2023•11 min•Season 2023Ep. 1104
Long before you leave the workforce, talk with your partner about what each of you wants to do, where to live, and what to spend in retirement. In today's video, Peter with Richon Planning and Erin Kennedy take a closer look at the topics that successful couples asked one another in order to become successful and happy retirees. First, discuss retirement expectations long before you retire. Here are some suggested questions to get the ball rolling: How will you spend time together? What will you...
Oct 28, 2023•11 min•Season 2023Ep. 1028
Investors who are concerned about a recession are putting their money in "safe havens." As Peter Richon with Richon Planning explains to Erin Kennedy, gold is usually seen as a safe haven when markets and economies are facing headwinds. And during periods of high inflation, gold is often seen as a hedge. Investing in gold makes sense if you're looking to diversify your portfolio, or if you're interested in insuring against the devaluation or collapse of the dollar. However, if you're looking to ...
Oct 21, 2023•10 min•Season 2023Ep. 1021
The end of the year is a great time to start thinking about your taxes for the upcoming year. That's why Peter with Richon Planning and Erin Kennedy are sharing 4 tax saving tips you can do now, to help you get on track for 2024. Max Out Your Roth IRA 2. Tax Loss Harvesting 3. Consider Your Tax Filing Status 4. Seek Tax Efficient Investments If you have any questions about Roth Conversions, or if you'd like to talk through specific tax efficient investments, including Health Savings Accounts, 52...
Oct 17, 2023•9 min•Season 2023Ep. 1017
We talk a lot about the benefits of Roth accounts. A Roth IRA allows you to save for retirement with after-tax dollars. That means you pay taxes on your contributions now, but your withdrawals are tax free in retirement. There are also several benefits to inheriting a Roth IRA, as Peter with Richon Planning explains to Erin Kennedy; the distributions are tax-free, and they won't affect your taxable income. However, with a few exceptions, you'll still have to drain the inherited account within 10...
Oct 14, 2023•13 min•Season 2023Ep. 1014
Fueled by COVID lockdowns and the rise of commission free brokerages like @Robinhood, online trading, or "day trading" has seen a huge rise in popularity in the last few years. However, according to several recent financial studies, almost all "day traders" lose lots of money, particularly after accounting for fees and taxes. If you're considering self-directed investing, @peter with @richonplanning and @erinkennedy break down the pros and the cons, and Peter offers these considerations before y...
Oct 07, 2023•16 min•Season 2023Ep. 1007
