Social Security just announced an 8.7% cost of living adjustment for retirees! The COLA increase will be applied to benefits in January of 2023. That's the largest inflation adjustment since 1981, when it was 11.2%. Peter with Richon Planning explains to Erin Kennedy why this year's Cost of Living Adjustment, or #COLA, is so high and whether this change should affect your claiming strategy.

If you'd like to speak with Peter to determine when you should claim Social Security, Richon Planning actually specializes in running very personalized analyses to determine your most "financially optimal" strategy. Please feel free to reach out for a complimentary consultation by calling (919) 300-5886 or by visiting www.RichonPlanning.com

#SocialSecurity #Retirement #WealthManagement #SocialSecurity2023

We are still firmly in Bear Market territory. #Stocks and #bonds are sharply negative. In fact, the market recently lost nearly one quarter of its value since the beginning of the year. But those negatives actually offer some unique opportunities according to Peter at RichonPlanning. He breaks down several strategies with Erin Kennedy,

including:

1. Tax Loss Harvesting

2. Rebalancing

3. Avoiding Phantom Income

4. Roth Conversions

5. RMDs

If you have any questions about how to employ some of these tax strategies, please reach out to Peter for a complimentary consultation by calling (919)300-5886 or by visiting www.RichonPlanning.com

Rising interest rates will cause lump sum #pension buyouts to be significantly lower in 2023. That has a lot of pre-retirees wondering if they should be considering an early #retirement. Peter with Richon Planning walks through several important questions you should ask yourself before accepting that buyout.

Peter recommends to Erin Kennedy that you sit down with a trusted financial advisor who can help you create a plan that incorporates not only the value of your lump sum buyout, but also factors in other income sources, tax planning, and your legacy goals.

There is no cookie-cutter answer to this question. But the sooner you have a thoughtful conversation that factors in your unique goals and financial priorities, the better. Peter would be happy to sit down with you to determine what's best for you and your financial future. Please reach out for a complimentary consultation by calling (919) 300-5886 or by visiting www.RichonPlanning.com

Tune in this week for Planning Matters Radio and listen as Peter Richon discusses retirement and mentions the extra media sources he can be found on to help upcoming retirees or just retirees see what the market is doing and what could be best for you. Peter Richon is a Fiduciary Financial Advisor willing to help you just contact Peter at (919) 300-5886. We hope you enjoy this edition of Planning Matters Radio.

Who is Peter Richon? What is Richon Planning? What is Planning Matters Radio? Watch as Peter Richon owner of Richon Planning and Planning Matters Radio discusses who he is and what he stands for. And along the way mention a few giggle worthy stories of his time as being a financial advisor fiduciary for many people and many places across the United States. This is Planning Matters Radio hope you enjoy!

Having an emergency fund is always important, and considering how volatile the markets have been this year, @Peter with @RichonPlanning explains to @erinkennedy precisely how much cash you should have on hand right now.

As you know, your emergency fund should be able to cover 3-6 months of living expenses. Having cash on hand will ensure you don't have to dip into #retirement savings to cover living expenses. And if you're worried about having too much cash on hand right now, considering the rate of #inflation, there are investment products that still allow for high returns while offering liquidity.

If you have any questions about your retirement or your savings, please reach out to Peter for a complimentary consultation by calling (919)300-5886 or by visiting www.RichonPlanning.com.

Do you remember a time when the news anchor on TV told you what happened in the world and left it up to you to formulate an opinion? In today’s world, it seems we have to view everything with jaded glasses, do extra research to verify what we are told, and gather other information from different sources just to draw our conclusion about what we can believe. Tune in this week as Peter Richon discusses a few of the potential conflicts in today's financial world. Contact Peter Richon at (919) 300-5886 or visit the website at https://richonplanning.com/. 

You should never invest in something you don't understand, which is why @Peter with @richonplanning and @erinkennedy are breaking down the similarities and differences between Exchange Traded Funds or #ETFs and mutual funds.

 Economic Headwinds... Is Now is a Good Time to #Rebalance?

Equity markets and bonds continue their volatility. So is now a good time to #rebalance? @Peter with @RichonPlanning tells us why rebalancing our #portfolio is important when it comes to managing #risk. 

Peter and @ErinKennedy also take a closer look at the biggest winners and losers in this year's #AssetClasses YTD, and he breaks down important tax implications you need to keep in mind before buying or selling any asset.

If you have any questions about whether you should be taking a closer look at your #investments, please reach out to Peter at www.RichonPlanning.com or call (919) 300-5886

#StockMarket #Taxes #MarketTrends #Bonds #Investments