Planning Matters Radio

Retirement readiness isn't just about how much you've saved... it's about how you want to live. In this conversation, Peter with Richon Planning and Erin kennedy break down a simple, 5-step checklist to help you prepare for your next chapter: ✔️ Define what retirement actually looks like for you ✔️ Take stock of your financial and personal assets ✔️ Prioritize your health (it affects more than you think) ✔️ Build a realistic retirement budget ✔️ Decide when to claim Social Security The earlier you start planning, the more freedom you have to actually achieve your goals. If you'd like to talk with Peter to start building a retirement plan that aligns with your life, not just your balance sheet, feel free to give him a call at (919) 300-5886 or visit www.RichonPlanning.com

It sounds like a smart move: claim your Social Security early, invest the checks, and get ahead. But for many high earners, that strategy can backfire… and cost far more than expected. As Peter with Richon Planning and Erin Kennedy discuss, claiming early and investing the benefit isn't as simple as it sounds. 🎯 We also break down: • How the Social Security earnings test can wipe out your benefit while you're still working • The true cost of claiming at 62 vs. waiting until full retirement age, or even 70 • The often-overlooked impact on your spouse, especially survivor benefits 💡 Bottom line: Timing when you claim Social Security isn't just about getting paid sooner, it's about maximizing income, protecting your spouse, and avoiding costly mistakes. It's one of the most important decisions you will make in retirement, and it's something Peter specializes in. To determine when you should claim, call (919) 300-5886 or visit www.RichonPlanning.com

Planning for retirement isn't just about growing your investments... it's about preparing for the expenses that can quietly eat away at your nest egg. In this interview, Peter with Richon Planning and Erin Kennedy break down 5 costs that are rising faster than many people expect... and what you can do now to stay ahead: • Health care expenses (because Medicare doesn't cover everything) • Home modifications for aging in place • Car expenses that don't disappear in retirement • Home insurance premiums climbing year after year • Relocation costs that can catch you off guard 🎯 The reality? Even a well-built plan can be thrown off by rising costs, but with the right strategy, you can protect what you've worked so hard to build. To speak with Peter to learn how to prepare, plan, and stay in control of your future, please call (919) 300-5886 or visit www.RichonPlanning.com

From oil embargoes to global pandemics, the S&P 500 has faced decades of uncertainty, and historically, come out stronger on the other side. But what does that mean for your portfolio right now? In today's video, Peter with Richon Planning and Erin Kennedy talk through: • How markets have responded to major global events over time • When it actually makes sense to adjust your investments... and when it doesn't • What changes (if any) pre-retirees and retirees should consider • ⚠️ The real risk retirees face in a down market: sequence risk • 🛡️ Strategies to help protect your income during volatility 💡 The big takeaway: Your financial plan should be built around your life and your goals... not the latest headline. If recent market news has you feeling uneasy, please feel free to give Peter a call at (919) 300-5886 or visit www.RichonPlanning.com to create a financial plan tailored to your goals and risk tolerance.

You've heard a lot about the stress of taking on too much risk in retirement. But as Peter with Richon Planning talks through with Erin Kennedy, playing it too safe can create just as much financial pressure. In this interview, we walk through three warning signs your portfolio may be holding you back: 🔹 You constantly worry about running out of money Being overly conservative can limit growth—especially during a long retirement. 🔹 Your money isn't working for you If your portfolio barely moves while inflation keeps rising, your purchasing power may be shrinking. 🔹 You avoid financial decisions out of fear Hesitating to make adjustments—even when they make sense—can be a sign fear is driving strategy. We also explain why investing too conservatively can be just as dangerous as taking on too much risk—and how finding the right balance matters more than ever. If you'd like to sit down with Peter to determine if your retirement plan may be playing defense when it should be playing offense, give him a call at (919) 300-5886 or visit www.RichonPlanning.com

How old is too old to buy an annuity? It typically doesn't make sense to buy one if you're under 50, and most insurance companies stop selling them once you hit 90. But as Americans live longer, our fear of outliving our savings has pushed sales of annuities to record highs. In fact, annuity sales topped $432 billion in 2024, but as Peter with Richon Planning and Erin Kennedy discuss, that doesn't mean they're right for everyone. In this interview, we break down: 🔹 When an annuity actually makes sense — and why timing is everything 🔹 The core problem annuities solve 🔹 How much liquidity you should keep before locking money up 🔹 The tax implications for you and your heirs 🔹 And what to consider if you're too young or too old for an annuity If you've ever wondered whether an annuity fits into your retirement income plan, please give Peter a call at (919) 300-5886 or visit www.RichonPlanning.com to learn more.

Most people are so focused on saving for retirement that they overlook the everyday habits that can derail it. According to Kiplinger, only 44% of Americans have calculated what they'll need to live on in retirement, and without that number, it's easy to overspend or take on risks that shrink your nest egg. In this week's interview, Peter with Richon Planning and Erin Kennedy break down the three most common pitfalls pre-retirees face: 🚫 Maintaining Debt Many retirees carry credit cards, car loans, mortgages, sometimes totaling $55,000. We discuss why entering retirement debt-free is so critical and what steps to take now to get there. 👨‍👩‍👧 Helping the Kids Half of parents are providing financial support to their adult children... averaging $1,500 a month. How do you help family without sacrificing your own financial future? 💳 Living "Large" Are you spending more than you should? We lay out how to realistically evaluate your lifestyle so you don't outlive your savings. If you'd like to learn how small decisions and simple habits today can protect your retirement, please call Peter at (919) 300 - 5886 or visit www.RichonPlanning.com