Last Paycheck

In this episode of the Last Paycheck Podcast, CFP Professional Archie Hoxton and Financial Advisor Jimmy Sutch dive into the well-known 4% rule of retirement planning. They explore its origins, usefulness, and potential pitfalls. The conversation begins by defining distribution rates and questioning what genuinely constitutes a sustainable withdrawal rate. They discuss the 4% rule, originating from Bill Bengen's study in the 1990s, which suggests that withdrawing 4% annually from your retirement portfolio can last you 30 years.

However, they caution that real-life scenarios can differ significantly, affecting the rule's reliability. Factors such as market performance, personal spending needs, and retirement length can impact the rule's effectiveness. They emphasize the importance of a dynamic and personalized approach to retirement planning rather than relying solely on generic rules of thumb. Tune in for invaluable insights and wisdom on how to prepare for a financially stable retirement.

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

Watch on YouTube: https://youtu.be/0Ioa0xDXBkM

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.

Welcome back to the Last Paycheck Podcast, CFP professionals Rob and Archie Hoxton dive into the crucial topic of retirement risks. They break down five significant risks retirees need to be aware of: investment risk, inflation, taxes, Medicare premiums, and longevity risk. With investment risk at the forefront, they discuss the importance of balancing risk and reward to ensure your investment income outpaces inflation, thus preserving purchasing power.

Rob and Archie also explore how inflation and taxes can dramatically impact your retirement finances, emphasizing the necessity of proactive planning. The episode highlights the concept of the "tax torpedo," where improper planning can lead to unexpectedly high taxes and Medicare premiums. Finally, they address longevity risk or the fear of outliving your savings, sharing strategies to manage this daunting prospect. Tune in for insightful tips on securing a financially sound retirement.

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

Watch on YouTube: https://youtu.be/uoR6Atpwp84

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.

Welcome to part 2 of the retirement checklist episode on the Last Paycheck Podcast. CFP Professionals Rob and Archie Hoxton guide listeners through crucial aspects of retirement preparation. Building on last week's discussion, they continue with the remaining parts of their comprehensive retirement readiness checklist, available upon request via email.

Need a retirement checklist? Email [email protected]

Key topics covered include milestone ages critical in retirement planning, each marking significant financial adjustments and opportunities for retirees. The hosts delve into practical advice on controlling spending before and during retirement, emphasizing the necessity of doing a "dry run" to test budget feasibility. They also advise on investment strategies, warning against overly conservative approaches that could erode purchasing power. Additionally, the episode highlights the importance of planning for healthcare costs, managing debt, and developing a Social Security claiming strategy. Tune in for insights that aim to ensure a secure and fulfilling retirement journey.

Catch Up Contributions - https://youtu.be/rqPZB80w0GA Medicare Enrollment Guide - https://youtu.be/rkb6zjcUwEs Prepare for Medicare Open Enrollment - https://youtu.be/ld9xCUEplVE Understand Medicare Options - https://youtu.be/WigbyAnTuxA How to Choose a Meidcare Plan - https://youtu.be/664EYKNl

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

Watch on YouTube: https://youtu.be/KYQYJT88no0

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.

Welcome to the Last Paycheck Podcast. CFP professionals Archie and Rob Hoxton delve into essential strategies for individuals who are approaching retirement.

Need a retirement checklist? Email [email protected]

They emphasize the importance of understanding key age milestones, like 50 for catch-up contributions, 59.5 to avoid withdrawal penalties, and 62 for initial Social Security access. With discussions about lifestyle adjustments, spending habits, and envisioning an ideal retirement, the hosts provide a roadmap for a successful transition.

Additionally, they highlight crucial considerations such as having a succession plan for business owners and the significance of defining personal purpose post-retirement. Come back next week for part 2!

Catch Up Contributions - https://youtu.be/rqPZB80w0GA Medicare Enrollment Guide - https://youtu.be/rkb6zjcUwEs Prepare for Medicare Open Enrollment - https://youtu.be/ld9xCUEplVE Understand Medicare Options - https://youtu.be/WigbyAnTuxA How to Choose a Medicare Plan - https://youtu.be/664EYKNlrWI Medicare and Retirement - https://youtu.be/G9097bs4zPw

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

Watch on YouTube: https://youtu.be/KYQYJT88no0

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.

Welcome to the Last Paycheck Podcast! Today, CFP professional Archie Hoxton and Financial Advisor Jimmy Sutch dive deep into the common hindrances people face when trying to accumulate wealth. They start by defining wealth, highlighting that it encompasses financial stability, time, health, and relationships. Then they explore how debt, especially when invested in depreciating assets like vehicles, can cripple wealth-building efforts.

Archie and Jimmy underscore the significance of making sound investment decisions and the pitfalls of emotional market timing. They also address the financial implications of life events like divorce and raising children and delve into the importance of strategic tax planning to minimize lifetime tax liabilities. Throughout the episode, they provide actionable insights to help overcome these barriers and enhance their financial and life abundance.

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

Watch on YouTube: https://youtu.be/W9TozmbnPYg

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.

It's time to start thinking about tax season! In this episode of the Last Paycheck Podcast, CFP Professionals Rob Hoxton and Archie Hoxton delve into the often dreaded but unavoidable topic of tax preparation. With the April 15th filing deadline looming, they offer valuable insights to ensure this annual chore is as stress-free and efficient as possible. Rob and Archie discuss the various options for preparing taxes, from the challenges of self-preparation to utilizing online tools like TurboTax, and the benefits of enlisting a professional CPA, especially amid a shortage of tax preparers.

They emphasize the importance of vigilance, from ensuring all necessary documents are in order to communicating effectively with your tax preparer. The episode also highlights key strategies such as taking inventory of life changes, making timely financial decisions, and the value of reviewing your tax return to avoid costly errors. Tune in for practical tips to navigate tax season with ease and confidence.

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

Watch on YouTube: https://youtu.be/aGCgYWKOJu0

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.

Welcome back to the Last Paycheck Podcast! CFP Professionals Rob and Archie Hoxton dive into the world of viral financial advice videos. They start by reacting to a video discussing the importance of setting up a Roth IRA, highlighting the benefits and clearing up misconceptions. Rob and Archie debunk erroneous claims about tax penalties and emphasize the advantages of tax-free growth within a Roth IRA. They discuss practical rules for Roth IRA withdrawals, ensuring listeners understand the various conditions to access their funds penalty-free.

Additionally, the hosts touch on the best and worst financial advice featured in another viral clip, reinforcing the value of saving and investing prudently over time. Rob and Archie offer thoughtful insights into the balance between financial success and overall life satisfaction, emphasizing the importance of a well-rounded approach to personal finance. If you aren't sure if something you've watched or read online is true - be sure to reach out to your financial advisor or someone you trust. Rob and Archie are always here to answer your questions - feel free to give them a call!

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

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

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.

Welcome to the Last Paycheck Podcast! CFP professionals Rob and Archie Hoxton delve into the often-overlooked risks that can threaten your financial stability in retirement. While many are aware of the commonly discussed threats, this episode sheds light on hidden landmines like inflation, healthcare costs, long-term care, and the mistakes driven by emotional investing.

Rob and Archie explain how these risks can erode your purchasing power and derail your financial plans, emphasizing the importance of sound portfolio construction and disciplined investing. They also offer actionable strategies to mitigate these risks, such as planning for inflation, choosing the right Medicare plans, and maintaining a balanced investment approach. By exploring these less obvious pitfalls, they aim to equip you with the knowledge to ensure a secure and worry-free retirement.

Medicare episodes: Navigating Medicare Enrollment and Penalties with Expert Ben Bulgrien - https://youtu.be/rkb6zjcUwEs

Making Sense of Medicare: Picking the Right Plan for You - https://youtu.be/WigbyAnTuxA

How to Prepare for Medicare Open Enrollment with Expert Advice from Ben Bulgrien - https://youtu.be/ld9xCUEplVE

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

Watch on YouTube: https://youtu.be/lI6FdIQiGuU

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.

In today's episode of Last Paycheck Podcast, CFP professional Archie Hoxton and Financial Planner Jimmy Sutch tackle the pressing concern of navigating bear markets. Archie emphasizes the importance of not panicking during market downturns and revisiting financial plans designed to withstand such fluctuations. They explain key concepts: market corrections, typically a 10% drop, occur annually, whereas bear markets, characterized by a 20% decline, happen every four to seven years.

They highlight maintaining a consistent strategy and avoiding rash decisions like moving entirely to cash, which can be detrimental long-term. They also discuss adjusting distribution rates and recognizing bear markets as investment opportunities. The episode underscores the value of sticking to a well-thought-out financial plan, maintaining a long-term perspective, and regularly contributing to qualified plans like 401ks. Tune in for expert advice to help you retire and stay retired.

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

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

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.

Welcome to the Last Paycheck Podcast, CFP professional Archie Hoxton and Financial Advisor Jimmy Sutch dive deep into the topic of Required Minimum Distributions (RMDs). They unravel the complexities of RMDs, a vital yet often misunderstood aspect of retirement planning. They discuss the implications of RMDs, how they're calculated, and the potential tax liabilities they create.

The episode offers valuable strategies to manage RMDs effectively, including Roth conversions and Qualified Charitable Distributions (QCDs), catering to both long-term and short-term planning perspectives. Additionally, the hosts emphasize that not everyone needs to worry excessively about RMDs, especially if you're already drawing from your retirement funds. Tune in for actionable wisdom on preparing for your final paycheck, ensuring you retire and stay retired comfortably.

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

Watch on YouTube: https://youtu.be/BP_bg07N1S8

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

Last Paycheck contains general information that is not suitable for everyone and was prepared for informational purposes only. Nothing contained in the presentation should be construed as a solicitation to buy or sell any security or as an offer to provide investment advice. Archie and Rob are investment advisor representatives of Hoxton Planning and Management LLC, a registered investment advisor.