Planning Matters Radio

Roth accounts are an amazing tool when it comes to creating wealth. Roth IRAs are not subject to probate and can be passed on to heirs tax-free. They also grow tax-free! If you're considering a Roth Conversion, Peter with Richon Planning and Erin Kennedy walk through 3 key considerations:

1. Your future tax rate

2. When will you need to access the funds?

3. Your beneficiary's future tax rate

Keep in mind, we are living in a historically low tax rate. Many financial experts believe that the Tax Cuts and Jobs Act of 2017 reduced federal income tax rates to the lowest level they may ever be, and those cuts are set to expire at the end of 2025. In other words, there has never been a better time to determine if a Roth Conversion is right for you.

If you'd like to crunch the numbers with Peter, please call (919) 300-5886 or visit www.RichonPlanning.com

#WealthManagement #Roth #RothConversion #FinancialAdvisor #Taxes

💰💰💰 Financial confidence through educated planning💰💰💰 Be SMART with your money with Peter Richon at Richon Planning!!!

In this episode, Peter sits down with special guest Becky Swansburg for an insightful conversation about how the upcoming election could shake things up for your retirement plans. They break down the key issues to watch out for and what changes might be on the horizon. From new tax laws to shifting policies, Peter and Becky cover the important topics that could directly affect your financial future. Whether you're nearing retirement or already there, this discussion will give you valuable tips and strategies to stay ahead of the game during these uncertain times.

If you have any questions about keeping your money and your personal information secure, please reach out to Peter by calling (919) 300-5886 or visit www.RichonPlanning.com

Interest rates have been high since March of 2022, but now, they're finally coming down. That means it's time to rethink how we're investing. In this video, Peter with Richon Planning and Erin Kennedy talk through why the Fed has decided to lower interest rates, and they discuss specific investments you should consider now that rates are coming down, including:

High-yield Investments

Bond ETFs Preferred Stock

REITs

Housing Stocks

If you would like to talk to Peter about how to invest as the Fed continues to lower interest rates, please feel free to reach out by giving him a call at (919) 300-5886 or visit www.RichonPlanning.com

#InterestRates #Investing #WealthManagement #FinancialAdvisor

Check out this recent headline: "Hackers may have stolen the Social Security numbers of every American." And according to the experts, those numbers are now available -for free- on an online marketplace for stolen personal data. In this video, Peter with Richon Planning and Erin Kennedy discuss what you can and should do to keep your personal information safe, starting with:

1. Freeze Your Credit

2. Monitor Your Accounts Closely

3. Use Two Factor Authentication

4. Be Vigilant

And we need to remind everyone watching... The biggest risk is: us! Hackers will do everything they can to steal our information, and they're very good at it! It's their job!

You can freeze and unfreeze your credit reports at Experian, TransUnion and Equifax online, by phone or by mail. The online option is the fastest and easiest.

Experian:

www.experian.com/freeze/

TransUnion

https://www.transunion.com/credit-freeze

Equifax

https://www.equifax.com/personal/credit-report-services/credit-freeze/

If you have any questions about keeping your money and your personal information secure, please reach out to Peter by calling (919) 300-5886 or visit www.RichonPlanning.com

Concerns about a cooling U.S. economy led to a recent market downturn. And that volatility may continue. As Peter with Richon Planning explains to Erin Kennedy, a correction was somewhat expected. Historically, we often see corrections around this time of year, particularly in August and September.

But when our team at Richon Planning constructs portfolios, we always consider the potential impact of volatility, aligning asset allocation with each investor's unique risk profile. This helps manage risk while boosting long-term returns.

It's important for investors to remember that these moments can present long-term opportunities. We're always on the lookout for such opportunities to position portfolios for future growth. If you have any questions about whether your portfolio can withstand or even capitalize on market volatility, please call Peter at (919) 300-5886 or visit www.RichonPlanning.com

#WealthManagement #Retirement #Investing #MarketTrends #MarketVolatility

Small business owners underreport a significant portion of their income, potentially as much as 30-50%! That's according to the @National Bureau of Economic Research. However attractive as hiding cash may seem, Peter with Richon Planning lays out 4 reasons to Erin. Kennedy, as to why you should report all income to the IRS, including:

1.Legal Risk

2. Long-Term Financial Health and Growth of Your Business

3. Retirement and Insurance Planning

4. Increase Sale Value

Peter specializes in helping small business owners navigate complex financial and tax obligations. If you'd like a complimentary consultation to learn more about increasing your business's value, please call (919) 300-5886 or visit www.RichonPlanning.com

Are you paying more than you need for financial advice? In this video, Peter with Richon Planning and Erin Kennedy break down the pros and cons of working with "fee-only" versus "fee-based" financial advisors.

It's important to know that both structures have different tax implications and perhaps different incentives for the advisor. An advisor who works on commission may not have your best interests at heart, whereas an advisor who charges a percentage of your managed money does have a vested interest in your financial success.

If you'd like to learn more about how each option could affect your taxes and long-term retirement goals, please call Peter at (919) 300-5886 or visit www.RichonPlanning.com

Unsure where to invest your hard-earned money as you plan for retirement? This episode offers insights on key strategies for securing your financial future. Are you on the right path? Please feel free to give Peter a call at (919) 300 - 5886 or visit www.RichonPlanning.com

The relationship between risk and return is fundamental when it comes to investing. As Peter with Richon Planning explains to Erin Kennedy, higher returns usually come with higher risk, and lower risk typically means lower potential returns.

Understanding that relationship and having a clear set of expectations when it comes to market volatility (specifically, what can you tolerate when it comes to market losses?) will help you be a better investor. When you have a plan that is in line with your risk tolerance, you are more likely to stick to that plan instead of reacting to market ups and downs.

If you'd like to speak with Peter and take a Risk Profile Questionnaire to determine how you should be invested, please give him a call at (919) 300-5886 or visit www.RichonPlanning.com

#WealthManagement #FinancialAdvisor #Retirement #InvestmentStrategies #Investing

Deciding whether to rent or buy a home is one of the biggest financial decisions you'll ever make. Both options have their pros and cons, and what's right for you depends on your personal situation and long-term goals. In this episode, we'll break down the key factors you need to consider when choosing between renting and buying. Please feel free to give Peter a call at (919) 300 - 5886 or visit www.RichonPlanning.com