Dreaming of a retirement escape but worried about hidden costs or missing your favorite activities As Peter Richon with Richon Planning and Erin Kennedy discuss retirement offers an opportunity for new beginnings and adventures but before you move Peter recommends you first consider Cost of Living essential when trying to figure out if your retirement savings and income will be sufficient to maintain your desired lifestyle Healthcare Access and Quality which becomes increasingly important and often expensive as we age Social Support Network Moving often means leaving behind friends and support networks that can be a tough transition Tax Implications [... more]

It's been a long time since we've seen inflation-adjusted interest rates above zero Since the Fed began hiking interest rates investors can once again earn attractive returns on cash But as Peter with Richon Planning explains to Erin Kennedy you may be earning less money than you think after accounting for inflation and taxes Instead of socking your money away in CDs treasuries or Money Market accounts Peter suggests you consider Buffered ETFs which can offer full principal protection Also unlike cash and cash alternatives Buffered ETFs don't generate taxable interest Instead you get much more favorable capital gains treatment [... more]

Retirement can come with a lot of tax questions and concerns From understanding the tax implications of withdrawing from your retirement accounts to minimizing taxes on investment income it can be overwhelming On today's episode we'll break down the top ten tax questions retirees are asking in Before you file your taxes and plan ahead for the rest of the year make sure to listen to this episode as we'll discuss some important tax questions that retirees should ask themselves to ensure they're making the most of their retirement savings and minimizing their tax burden Here's some of what you'll [... more]

If you're nearing the age to take Required Minimum Distributions or RMDs and you want to avoid the extra income and its tax implications Peter Richon with Richon Planning and Erin Kennedy break down three strategies to consider Peter recommends these strategies to help reduce your tax exposure Consider taking distributions as early as possible Roth Conversions Qualified Charitable Distributions or QCDs Keep in mind RMDs are income so taking those distributions can boost your taxable income and your income taxes for the year which is why strategic tax planning is so important If you have any questions about these [... more]

New Retirement Account Contribution Limits for The IRS just announced that it will boost the maximum contribution limit to k accounts by next year to This is the largest increase on record The contribution limit for an IRA is also set to increase to from As Peter with Richon Planning explains to Erin Kennedy this move will allow millions of us to contribute thousands more into tax- advantaged retirement accounts But keep in mind every retirement plan has to include tax planning and tax diversification In fact k s are known as retirement tax bombs If you'd like to talk [... more]

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 [... more]

In Luke the big barn parable tells the story of a rich man who grew extra crops and had no place to store them He decided he would tear down his barn and build a larger one which would give him the time to relax and take life easy God told him he was going to die that night and then what would happen to all the crops he was storing for himself God called the man a fool This same idea can be applied to people who want to leave their large IRAs to their beneficiaries Robby uses his [... more]

Jim Dischert founder of Financial Group in Chicago joins John to talk about the many different facets of retirement planning [... more]