Last Paycheck

In this week's episode of the Last Paycheck Podcast, hosts Archie and Rob Hoxton talk about the alarming trend highlighted in a recent Moneywise article by Maury Bookman: 46% of middle-class workers have reduced or stopped their 401K contributions due to inflation and high prices. Exploring the broader economic backdrop, they discuss how rising living costs and stagnant wages compel people to cut back on crucial retirement savings.

They also emphasize the detrimental impact of growing consumer debt and the missed opportunities from halting contributions, such as losing employer matches and tax benefits. They highlight the long-term costs, illustrating how skipping even a year of contributions can significantly reduce retirement savings. Throughout the episode, Archie and Rob advocate for maintaining some level of contribution, offering practical tips to navigate financial challenges while planning for a secure retirement. Tune in for insightful advice on how to weather economic uncertainties without sacrificing your financial future.

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube: https://youtu.be/TKIpvgoTQoo

Listen in on conversations with CFP Professionals Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com

In this episode of the Last Paycheck Podcast, hosts Archie and Rob Hoxton react to a video promoting the concept of "infinite banking" or "be your own bank" using whole life insurance policies. The video creator makes claims about earning high returns and borrowing money for free. Archie and Rob break down these claims, explaining the differences between banks and insurance policies, and how policy loans actually work.

They emphasize that while cash value life insurance has its place, it should be purchased for the right reasons, such as providing a permanent death benefit for loved ones who rely on you financially. The hosts caution against buying insurance solely for minor features like policy loans, as this can lead to potential tax consequences if not managed carefully. They conclude by acknowledging that borrowing against a policy can be a useful tool, but it's just one of many options available.

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube: https://youtu.be/pdIdTBUzUM4

Listen in on conversations with CFP Professionals Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com

In this week's episode of the Last Paycheck Podcast, CFP Professionals Archie Hoxton and Rob Hoxton discuss the common mistakes people make when leaving a job and deciding what to do with their 401(k). They emphasize the importance of staying organized and informed to avoid costly errors. The hosts outline three main options: leaving the 401(k) with the former employer, withdrawing the funds (which can incur significant taxes and penalties), or rolling the balance into a new employer's plan or a rollover IRA.

They highlight the potential pitfalls of each option, such as forgetting about the account, incurring unnecessary taxes and penalties, or leaving the funds uninvested in cash. Archie and Rob stress the importance of understanding the specific industry terms and seeking professional guidance to navigate the process and make the best decision for your financial future.

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube: https://youtu.be/PwKXtO40shY

Listen in on conversations with CFP Professionals Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com

Welcome back to Last Paycheck Podcast! Hosts and CFP Professionals Archie Hoxton and Rob Hoxton explore the dynamic relationship between politics and the stock market, particularly during election years. Broadcasting from their brand-new studio at Hoxton Planning and Management headquarters, the duo debunk the myth that politics are a primary driver of market performance.

They emphasize that while short-term market volatility may occur around elections, historical data shows that election years often yield positive market returns, irrespective of which party wins. With insights dating back to 1928, Archie and Rob demonstrate that maintaining a well-constructed, diversified portfolio and focusing on long-term goals is crucial. They also discuss the importance of having a robust emergency fund to navigate short-term financial needs.

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube: https://youtu.be/6QdptbePPo0

Listen in on conversations with CFP Professionals Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com

In this week's episode of Last Paycheck Podcast, financial planners Rob and Archie Hoxton talk about the enticing yet complex decision of buying a vacation home. Rob initiates the conversation, reflecting on the appeal of owning a second home in a favorite vacation spot.

They discuss the dreams versus realities of such an investment, emphasizing that while a second home can enhance your lifestyle and bring family together, it also involves significant financial and non-financial considerations. They cover key aspects such as financing, property taxes, insurance, and the pitfalls of relying on rental income to afford the property. They also caution against emotional decisions made during a vacation.

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube: https://youtu.be/Npgtb3De_8w

Listen in on conversations with Certified Financial Planners Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com

In this episode of the Last Paycheck Podcast, hosts and financial planners Archie and Rob Hoxton dive deep into the world of Roth IRAs and 401(k) plans, exploring the benefits and strategies for building your Roth tax bucket. The discussion tackles the incredible story of Peter Thiel purportedly amassing $5 billion within a Roth IRA. Archie and Rob break down the fundamental differences between traditional and Roth IRAs, offering valuable insights into strategies like Roth conversions, backdoor Roth contributions, and even the mega backdoor Roth.

They emphasize the importance of tax planning and knowing your options to maximize retirement savings. Whether you're new to retirement planning or a seasoned investor, this episode is packed with practical advice to help you retire and stay retired with financial peace of mind.

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube: https://youtu.be/HMaXDHhPUWE

Listen in on conversations with Certified Financial Planners Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com

Welcome back to Last Paycheck Podcast! In this week's episode, hosts and certified financial planners Archie and Rob Hoxton take a deep dive into assessing financial health. Just as you'd get a medical checkup, they explore how to do a financial wellbeing check by examining critical elements such as emergency funds, debt management, and insurance coverage. The episode emphasizes the importance of maintaining a liquid emergency fund, managing debt effectively, and ensuring adequate insurance to guard against life's uncertainties.

The hosts also stress the significance of saving for the future and using a comprehensive financial plan as a roadmap to achieve long-term goals. Packed with practical advice and real-life examples, this episode serves as a crucial guide for anyone looking to get a clear picture of their financial health and take actionable steps toward financial stability and growth. Don't miss this essential financial wellness checkup!

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube:

Listen in on conversations with Certified Financial Planners Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com

In this week's episode of Last Paycheck Podcast, certified financial planners Archie and Rob Hoxton dive into the world of charitable giving strategies. As the hosts navigate through the complexities of tax benefits associated with donations, they shine a light on various methods to maximize contributions effectively.

From the straightforward cash donations to the more advantageous securities donations and donor-advised funds, listeners gain insights into how to leverage their charitable contributions for greater tax efficiency. The episode also covers Qualified Charitable Distributions, a powerful tool for those over 70 and a half looking to benefit from non-taxable IRA donations. Tune in for expert tips and how to make the most of your charitable efforts while navigating ever-evolving tax laws.

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube: https://youtu.be/DWGHCasePX0

Listen in on conversations with Certified Financial Planners Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com

In this week's episode of Last Paycheck Podcast, hosts and certified financial planners Archie and Rob Hoxton talk about the highly-anticipated topic of Social Security cost of living increases for 2025. They explore how these adjustments are calculated, focusing on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Rob shares startling statistics about the reliance of nearly 40% of retired Americans on Social Security as their sole income source, emphasizing the importance of strategic planning. With insights into inflation's impact and asset management tips, the hosts provide valuable advice for maximizing Social Security benefits. Despite uncertainties, Archie and Rob predict a potential 2025 increase of 3% to 3.5%.

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube: https://youtu.be/v-eEGL_EqUA

Listen in on conversations with Certified Financial Planners Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com

In this week's episode of the Last Paycheck Podcast, hosts Archie and Rob Hoxton dive deep into Health Savings Accounts (HSAs), highlighting their unparalleled tax benefits and how they can be a powerful tool for future healthcare costs. Revisiting the basics and rules of HSAs, they draw clear distinctions between HSAs and Flexible Spending Accounts (FSAs). The episode emphasizes the importance of understanding qualified medical expenses, contribution limits, and the pitfalls of over-contributing or not investing HSA funds for growth.

Archie and Rob discuss scenarios such as family vs. single coverage contributions and the penalties for misusing HSA funds. They also touch on the unique investment opportunities within HSAs that can maximize tax-free growth. Make sure to reach out to Rob and Archie for more tips to help you understand different tax benefits and pitfalls!

If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation

Call or text Hoxton Planning & Management: +1 (304) 876-2619 and visit their website www.hoxtonpm.com

Watch on YouTube: https://youtu.be/N1btH6CIBdU

Listen in on conversations with Certified Financial Planners Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you.

Visit: http://www.thelastpaycheck.com