Everyone's most favorite retirement account, the 401(k), is a great way to save, but it is just a tool, not a strategy. As Peter with Richon Planning explains to Erin Kennedy, without proper planning, you could face unexpected taxes, income gaps, and market risk.

There's a reason 401ks are known as tax time bombs: beyond being tax-deferred (which means you will pay taxes at an unknown and probably higher rate in the future), the Required Minimum Distributions can push you into a higher tax bracket in retirement.

We are living in a historically low tax rate right now, and taxes are set to increase at the end of 2025. If you'd like to work with Peter to create tax-free income in retirement, please call (919) 300-5886 or visit www.RichonPlanning.com