Shows
Last PaycheckHow to Enjoy and Spend After a Lifetime of Saving for RetirementWhen do you start spending in retirement? And more importantly, how do you even begin? Many retirees face an unexpected challenge: shifting from being a meticulous saver to being a confident spender. On today's episode, CFP Professionals Rob Hoxton and Archie Hoxton discuss exactly how they can help you do just that. They explore why making the transition can feel so daunting, discussing habits formed over a lifetime, fears about market volatility, and the lingering anxiety of running out of money, even when sound planning shows otherwise. Rob and Archie offer practical advice...
2025-11-1216 min
Last PaycheckSocial Security and Medicare Changes: What the Latest 2026 Adjustments Mean for Your RetirementIn this episode of the Last Paycheck Podcast, CFP Professionals Archie Hoxton and Rob Hoxton break down the latest updates on Social Security's cost-of-living adjustment (COLA) and what it means for retirees. They explore how the COLA is calculated, why the numbers might surprise you, and how rising Medicare premiums and taxes can take a big bite out of those increases. Additionally, there could be a danger of becoming subject to taxes since the floor at which you become subject to the taxes has not been increased along with the benefit amount. The conversation highlights th...
2025-11-0518 min
Last PaycheckMaximize Your Retirement Income by Picking the Right StateDoesn't it always seem people move when they retire? It's not required, but it can be quite beneficial. In this episode of the Last Paycheck, CFP Professionals Rob Hoxton and Archie Hoxton explore what role your choice of state plays in shaping your retirement lifestyle. (This episode is about retiring in the USA, if you need an episode about retiring internationally, leave a comment below). With a focus on taxes, including state income, property, sales, and Social Security taxes, they break down how moving to different states can dramatically affect your retirement finances. The hosts dis...
2025-10-2917 min
Last PaycheckYou Could Be Missing Thousands! How to Find Your Lost 401(k)In this episode of The Last Paycheck Podcast, CFP Professionals Rob Hoxton and Archie Hoxton tackle a major financial problem: forgotten 401(k) accounts. 🚨 💡 Did you know there are over 32 million lost 401(k)s worth nearly $2 trillion in unclaimed retirement savings? Rob and Archie explain why so many people leave old accounts behind, the hidden costs of doing nothing, and how you can track them down before it's too late. In this episode, you'll learn: ✅ Why 401(k)s get "lost" when you change jobs ✅ How to find old retirement accounts using federal databases ✅ Smart record...
2025-10-2216 min
Last PaycheckYear-End Tax Planning Tips You Can't Afford to Miss!As the year winds down, CFP Professionals Rob Hoxton and Archie Hoxton share essential year-end tax planning strategies to help you finish strong financially. 💰 In this episode of The Last Paycheck Podcast, Rob and Archie break down everything you need to know before December 31: - Required Minimum Distributions (RMDs) - Roth Conversions & Retirement Contributions - Capital Gains & Loss Harvesting - Smart Charitable Giving (DAFs & QCDs) - Maximizing FSAs & HSAs - Checking Your Beneficiary Designations 🎧 Listen now and get your free Year-End Tax Planning Calendar at https://hoxtonpm.com/worksheets/tax-st...
2025-10-1515 min
Last PaycheckGiving While Living: How to Build Your Legacy TodayCFP Professional Archie Hoxton and financial advisor Jimmy Sutch dive into the strategy of "giving while living"—sharing your wealth with loved ones or charities during your lifetime instead of waiting until after you've passed. They break down: ✅ The emotional fulfillment of seeing your generosity impact children, grandchildren, and causes you care about. ✅ How giving early can reduce family conflict later. ✅ Key financial benefits: annual gift exclusions, tax advantages of gifting appreciated assets, and smart charitable tools like donor-advised funds and qualified charitable distributions (QCDs). ✅ Pitfalls and important considerations before making major gifts. If you'r...
2025-10-0816 min
Last PaycheckHow To Build and Diversify Your PortfolioDon't miss their free Investment Alignment Worksheet to help you take the next step - https://hoxtonpm.com/worksheets/investment-alignment-worksheet/ CFP Professionals Rob and Archie Hoxton break down the fundamentals of building a strong investment portfolio. From stocks and bonds to money markets, and even a quick look at real estate, they explain the building blocks every investor should understand for long-term financial security. Answering subscriber questions, Archie and Rob cover: - The differences between stocks and bonds - How diversification strengthens your portfolio - U.S. vs. international allocations - C...
2025-10-0117 min
Last PaycheckHow To Handle a Bad Market At Every Stage of LifeIn this episode of The Last Paycheck Podcast, CFP Professionals Rob and Archie Hoxton unpack the realities of bear markets and how your response should shift depending on your stage of life. Whether you're just starting your career, halfway to retirement, or already enjoying your golden years, Rob and Archie break down: - How market downturns affect your investments and financial plan - Why younger investors can see bear markets as rare buying opportunities - Smart strategies for pre-retirees: boosting cash reserves, funding emergencies, and building a scalable lifestyle - The importance of...
2025-09-2416 min
Last PaycheckShould You Downsize in Retirement? What To Do and What NOT To DoShould you downsize in retirement? In this episode of the Last Paycheck Podcast, CFP Professionals Rob Hoxton and Archie Hoxton dive into the ins and outs of downsizing as part of your retirement strategy. With many retirees considering smaller homes or moving closer to family, this episode tackles the financial and emotional aspects of making such a significant life change. Rob and Archie break down common mistakes to avoid, like rushing into a purchase before consulting your financial planner or underestimating the tax implications when selling and buying properties. They discuss smart ways to bridge th...
2025-09-1716 min
Last PaycheckEstate Planning 101: The 3 Documents Everyone NeedsIn this week's episode of Last Paycheck Podcast, CFP Professional Rob Hoxton and Financial Advisor Jimmy Sutch dive into the essentials of estate planning—a topic that can feel overwhelming, but is crucial for everyone, not just the wealthy. Rob and Jimmy break down the three key documents you need: - a will - a healthcare directive - a power of attorney They explain why simply having these documents—no matter how basic—can save your loved ones from confusion and legal battles. They share real-life examples about the pitfalls families face when esta...
2025-09-1015 min
Last PaycheckShould Your Political Views Influence Your Investment Decisions?This week on the Last Paycheck Podcast, CFP Professionals Rob Hoxton and Archie Hoxton dig into a big question: Should Your Political Views Influence Your Investment Decisions? They break down how emotions and political beliefs can cloud judgment, why short-term political events often create more noise than impact, and what really drives long-term market performance. Rob and Archie explain why economic fundamentals, not election results, are what matter most for investors. They share practical strategies for staying disciplined, from asset allocation and diversification to rebalancing and sticking to your financial plan through election cycles and...
2025-09-0316 min
Last PaycheckAre Financial "Rules of Thumb" Helping You or Hurting You?Are financial "rules of thumb" the key to building wealth—or could they actually steer you off course? In this episode of the Last Paycheck Podcast, CFP Professionals Rob and Archie Hoxton dig into some of the most popular money guidelines: - Save 10% of your income - The 4% retirement withdrawal rule - The 80% replacement rule for retirement income Rob and Archie explain where these financial shortcuts can provide clarity, especially for beginners, and when they might fall short as your money situation becomes more complex. They highlight the dangers of making emotional financial decisions, th...
2025-08-2719 min
Last PaycheckBreaking Down the One Big Beautiful Bill: Tax Changes Every Retiree Needs to Know | Pt 2The landmark "One Big Beautiful Bill" continues to shake up the financial world — and in this part 2, we continue the conversation. Join CFP Professional Archie Hoxton and Financial Advisor Emily Leslie on the Last Paycheck Podcast as they explore the latest wave of tax law changes and what they mean for your money — especially if you're planning for retirement or already living it. 🔍 What's inside this episode: ✅ 2017 Tax Cuts extension — who benefits now ✅ Overtime deductions that could save you big ✅ Social Security tax myths — busted ✅ Bigger breaks for seniors ✅ Major shifts to SALT (State...
2025-08-2015 min
Last PaycheckThe "One Big Beautiful Bill": What It Means for Your Wallet in 2025 | Pt 1The "One Big Beautiful Bill" is here — but what does it actually mean for your money? In this episode of Last Paycheck Podcast, CFP Professional Archie Hoxton and Financial Advisor Emily Leslie break down the biggest financial legislation shakeup in years — and yes, it's only the tip of the iceberg! They cover: 💥 Making the 2017 Tax Cuts and Jobs Act permanent 💥 A massive boost to the Child Tax Credit 💥 No tax on tips?! (Yes, seriously.) 💥 Auto loan interest deductions 💥 Brand-new "Trump Accounts" for kids — with quirky rules 💥 What's staying, what's changing, and what's still unclea...
2025-08-1316 min
Last PaycheckBuffer ETFs vs Fixed Index Annuities: Managing Market Risk in RetirementCertified Financial Planners Archie Hoxton and Rob Hoxton dive deep into a top concern for retirees and conservative investors: How can you grow your money in the stock market, without exposing yourself to major losses? In this episode, Rob and Archie cover: 🔹 What Buffer ETFs are, how they work, and why their gain caps and one-year cycles matter 🔹 How Fixed Index Annuities can offer downside protection, along with their hidden fees, liquidity risks, and long-term pros and cons 🔹 Which strategy may work best for retirement planning or risk-averse investing 🔹 How to balance growth potential an...
2025-08-0616 min
Last PaycheckTaking Time Off Work Strategically: Sabbatical Planning Tips from CFP ProfessionalsAre you thinking of taking a sabbatical or carreer break? CFP Professionals Rob and Archie Hoxton walk through what that looks like in this week's episode of Last Paycheck. Whether you're contemplating a mid-career break for personal growth, burnout recovery, further education, or a major life pivot, Rob and Archie dive into the crucial planning considerations you need to address. They discuss the financial impact of a sabbatical, including how to manage income gaps, health insurance, retirement savings, and key benefits that may be lost during time away from work. Drawing on their expertise in financial planning...
2025-07-3017 min
Last PaycheckAvoiding Probate: The Power of Naming the Right BeneficiariesIn this episode of The Last Paycheck Podcast, CFP Professional Archie Hoxton and Financial Advisor Jimmy Sutch break down one of the most overlooked aspects of estate planning: beneficiary designations. Many people assume that having a will is enough, but it's not. Archie and Jimmy explain how properly assigning beneficiaries on accounts like 401(k)s, IRAs, life insurance, and even bank accounts can help your loved ones avoid probate, legal delays, and unnecessary costs. They share real-world examples and tips on why outdated beneficiary designations can cause major issues, the difference between will provisions and...
2025-07-2317 min
Last PaycheckSupport Your Adult Kids Financially or Focus on Retirement First?In this episode of The Last Paycheck Podcast, Certified Financial Planner professionals Archie Hoxton and Rob Hoxton tackle a common retirement dilemma: Should you help your adult children financially, and at what cost to your retirement? They explore the emotional and financial trade-offs of supporting grown kids, including how it can impact your long-term financial security. You'll learn: ✅ When it makes sense to offer help ✅ How to set healthy financial boundaries ✅ Why your retirement plan must come first ✅ How to encourage financial independence in your children Rob and Archie share practical st...
2025-07-1616 min
Last PaycheckAre Your Money Habits Your Parents' Fault? Understanding Financial BaggageIn this episode of the Last Paycheck Podcast, CFP Professionals Rob and Archie Hoxton dive into the roots of our financial habits by exploring the concept of "money scripts"—the core beliefs about money we pick up in childhood. Take your money script inventory: https://www.bradklontz.com/moneyscriptstest They discuss how these early experiences and family influences can shape our approach to saving, spending, and investing throughout life. Using both personal anecdotes and research-backed insights, Rob and Archie break down the four main money scripts: money avoidance, money worship, money status, and money vigilance. They...
2025-07-0919 min
Last PaycheckHow Much Should You Have Saved for Retirement by Now?Welcome back to the Last Paycheck Podcast! CFP Professional Rob Hoxton and Financial Advisor Jimmy Sutch dive into one of the most common questions about retirement: "How do I know if I've saved enough for retirement by now?" Rob and Jimmy break down popular retirement savings rules of thumb, like how many times your annual salary you should have saved at different ages, and analyze real-world averages from recent surveys. They also discuss why so many people find themselves behind in saving, exploring topics like behavioral habits, present bias, and rising costs of living. Throughout th...
2025-07-0217 min
Last PaycheckThe Truth About Millionaires Next Door: How Ordinary People Build Real WealthHow do you become the millionaire next door? CFP Professionals Archie Hoxton and Rob Hoxton take a deep dive into what it truly means to be the "millionaire next door." They dispel the myths commonly perpetuated by social media, highlighting that most American millionaires are not flashy spenders but instead live simply, drive modest cars, and focus on saving rather than spending. Drawing from decades of financial planning experience and reputable studies, the hosts share surprising statistics—like how 79% of millionaires didn't inherit their wealth and how the top millionaire careers are often quite ordinary, incl...
2025-06-2516 min
Last PaycheckShould You Take Social Security Early? 5 Surprising Reasons to Consider ItIn this week's episode of Last Paycheck Podcast, CFP Professional Archie Hoxton and financial advisor Jimmy Sutch tackle one of retirement's biggest questions: Should you take Social Security early? Archie and Jimmy break down the conventional wisdom around delaying benefits and offer fresh insight into five key reasons why claiming early might be right for you. They explore factors like health, income needs, legacy planning, concerns about Social Security's future, and unique strategies for couples with different benefit amounts. They emphasize that Social Security decisions are highly personal—what works best depends on your financial picture, life exp...
2025-06-1116 min
Last PaycheckIs Long Term Care Insurance Worth It? Pros and Cons as You AgeWelcome to the 100th episode of the Last Paycheck Podcast! CFP Professionals Rob Hoxton and Archie Hoxton celebrate with viewers and dive deep into the crucial topic of long-term care insurance. The hosts share statistics from the U.S. Department of Health and Human Services, revealing that 70% of adults over age 65 will need some form of long-term care. Rob and Archie break down what long-term care insurance is, identify common trigger points for needing it, and guide listeners through key scenarios where having coverage could be essential—such as having no close family support or wanting to pro...
2025-06-0417 min
Last Paycheck5 Reasons You Should Retire EarlyHave you ever wondered if retiring before 65 or 70 is the right move for you? In this week's episode of the Last Paycheck Podcast, CFP Professionals Rob Hoxton and Archie Hoxton dive into the hot topic of early retirement. The hosts share five compelling reasons why you should consider hanging up your work boots ahead of schedule, from regaining valuable time and prioritizing your health, to safeguarding your financial future in an ever-changing job market. They also discuss the benefits of phased retirement and the importance of retiring to something, not just from something, to ensure a fu...
2025-05-2816 min
Last PaycheckHow to Find Meaning and Purpose in Retirement: Smart Giving Strategies and Living Well☎️ Questions? Call or text Rob and Archie at 304-876-2619 or reach them at https://www.hoxtonpm.com 🗓️ If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation In this episode of Last Paycheck Podcast, CFP Professionals Archie Hoxton and Rob Hoxton dive into the important topic of making your retirement truly meaningful. They explore how retirees can find purpose after their final paycheck by shifting focus from work-related achievements to new sources of fulfillment. The discussion covers practical strategies for creating impact in retirement, including giving bac...
2025-05-2117 minLast PaycheckRelationships and Money: Aligning Goals, Values, and HabitsWelcome to the Last Paycheck Podcast! CFP Professionals Archie Hoxton and Rob Hoxton tackle the vital topic of financial alignment in relationships. Drawing from their experience working with couples, they discuss why communicating about money is essential and how early financial memories can shape each partner's attitudes. They dive into common friction points, such as debt, spending differences, risk tolerance, and financial infidelity, and explore practical ways to overcome these challenges. They also highlight the importance of both partners participating in financial planning and suggest when to seek help from neutral third parties like financial planners or t...
2025-05-1416 min
Last PaycheckDIY Retirement Planning: Common Pitfalls and When to Hire a Financial PlannerIn this episode of the Last Paycheck Podcast, CFP Professionals Rob and Archie Hoxton tackle the increasingly popular topic of DIY retirement planning. They explore the advantages of taking a do-it-yourself approach, such as potential cost savings and the satisfaction of managing your own finances. However, the hosts also highlight the pitfalls that many DIY-ers face, including gaps in tax planning, investment management, and the risk of missing out on critical strategies like Roth conversions. Drawing from real-life examples and years of experience, Rob and Archie illustrate how failing to account for long-term tax impacts can have l...
2025-05-0715 min
Last PaycheckFinancial Spring Cleaning Tips to Organize Your Money for a Stress-Free YearIn this week's episode of the Last Paycheck Podcast, CFP Professionals Rob Hoxton and Archie Hoxton help you "spring clean" your finances. Using the momentum of tax season, they guide listeners through practical steps for getting organized and tackling financial clutter. Rob and Archie break down how to review your spending, manage subscriptions, consolidate accounts, and improve your password security. They share insights into why keeping too many accounts and unused subscriptions can cost you money and complicate tax time, plus tips for safeguarding against fraud and checking credit reports. The hosts also discuss the importance of r...
2025-04-3016 min
Last PaycheckWant to Retire Early? Key Challenges and Strategies You Need to KnowIn this episode of the Last Paycheck Podcast, CFP Professional Archie Hoxton and Financial Advisor Jimmy Sutch dive into the topic of early retirement. They debunk the misconception that retiring early shares the same planning approach as traditional retirement. They emphasize the importance of a well-thought-out plan and discuss the substantial challenges that come with retiring young, such as the need for a larger nest egg, a reliable withdrawal strategy, and considerations for healthcare. Archie and Jimmy also touch upon essential aspects of financial planning like the 4% rule and the intricacies of accessing retirement funds at different a...
2025-04-2318 min
Last PaycheckStay Cool and Invest Smart: Winning Tactics for Uncertain MarketsIn this episode of Last Paycheck Podcast, CFP Professionals Rob and Archie Hoxton delve into the hot topic of market volatility. As financial markets face fluctuations, they share insights and practical advice for navigating these turbulent times. Highlighting their newly developed Market Volatility Guide (email lastpaycheck@hoxtonpm.com to get it sent to your inbox), they explore common pitfalls like panic selling and chasing fleeting market trends. The hosts emphasize the importance of maintaining a strategic approach, advising listeners to stay the course and focus on essentials like rebalancing and tax-loss harvesting. They candidly discuss the emotional ch...
2025-04-1618 min
Last PaycheckSix Mistakes to Avoid When You Inherit MoneyWelcome to the Last Paycheck Podcast! Today, CFP Professionals Rob and Archie Hoxton discuss the common mistakes to avoid when inheriting money. With a massive generational transfer of wealth underway, it's crucial to prepare for the unique challenges that come with windfalls. They highlight the dangers of treating an inheritance as "found money" and emphasize the importance of having a disciplined financial plan. They also delve into the potential tax consequences and the emotional decisions that can arise. The episode covers practical advice on how to integrate unexpected funds into your financial plan, the impact on tax o...
2025-04-0918 min
Last PaycheckIs the 4% Rule Still Relevant? Examining Its Role in Today's Retirement PlanningIn this episode of the Last Paycheck Podcast, CFP Professional Archie Hoxton and Financial Advisor Jimmy Sutch dive into the well-known 4% rule of retirement planning. They explore its origins, usefulness, and potential pitfalls. The conversation begins by defining distribution rates and questioning what genuinely constitutes a sustainable withdrawal rate. They discuss the 4% rule, originating from Bill Bengen's study in the 1990s, which suggests that withdrawing 4% annually from your retirement portfolio can last you 30 years. However, they caution that real-life scenarios can differ significantly, affecting the rule's reliability. Factors such as market performance, personal spending needs, and retirement l...
2025-04-0215 min
Last Paycheck5 Retirement Risks & The Key to Lasting Financial SecurityWelcome back to the Last Paycheck Podcast, CFP professionals Rob and Archie Hoxton dive into the crucial topic of retirement risks. They break down five significant risks retirees need to be aware of: investment risk, inflation, taxes, Medicare premiums, and longevity risk. With investment risk at the forefront, they discuss the importance of balancing risk and reward to ensure your investment income outpaces inflation, thus preserving purchasing power. Rob and Archie also explore how inflation and taxes can dramatically impact your retirement finances, emphasizing the necessity of proactive planning. The episode highlights the concept of the "tax t...
2025-03-2616 minLast PaycheckReady to Retire? Stay on Track with This ChecklistWelcome to part 2 of the retirement checklist episode on the Last Paycheck Podcast. CFP Professionals Rob and Archie Hoxton guide listeners through crucial aspects of retirement preparation. Building on last week's discussion, they continue with the remaining parts of their comprehensive retirement readiness checklist, available upon request via email. Need a retirement checklist? Email lastpaycheck@hoxtonpm.com Key topics covered include milestone ages critical in retirement planning, each marking significant financial adjustments and opportunities for retirees. The hosts delve into practical advice on controlling spending before and during retirement, emphasizing the necessity of doing a "dr...
2025-03-1216 min
Last PaycheckRetiring Soon? Use a Checklist to Get it Right Welcome to the Last Paycheck Podcast. CFP professionals Archie and Rob Hoxton delve into essential strategies for individuals who are approaching retirement. Need a retirement checklist? Email lastpaycheck@hoxtonpm.com They emphasize the importance of understanding key age milestones, like 50 for catch-up contributions, 59.5 to avoid withdrawal penalties, and 62 for initial Social Security access. With discussions about lifestyle adjustments, spending habits, and envisioning an ideal retirement, the hosts provide a roadmap for a successful transition. Additionally, they highlight crucial considerations such as having a succession plan for business owners and the significance of de...
2025-03-0515 min
Last PaycheckFinancial Freedom: Essential Tips to Remove Barriers and Build Lasting WealthWelcome to the Last Paycheck Podcast! Today, CFP professional Archie Hoxton and Financial Advisor Jimmy Sutch dive deep into the common hindrances people face when trying to accumulate wealth. They start by defining wealth, highlighting that it encompasses financial stability, time, health, and relationships. Then they explore how debt, especially when invested in depreciating assets like vehicles, can cripple wealth-building efforts. Archie and Jimmy underscore the significance of making sound investment decisions and the pitfalls of emotional market timing. They also address the financial implications of life events like divorce and raising children and delve into the i...
2025-02-2616 min
Last PaycheckPrepare Now to Make Taxes Less TaxingIt's time to start thinking about tax season! In this episode of the Last Paycheck Podcast, CFP Professionals Rob Hoxton and Archie Hoxton delve into the often dreaded but unavoidable topic of tax preparation. With the April 15th filing deadline looming, they offer valuable insights to ensure this annual chore is as stress-free and efficient as possible. Rob and Archie discuss the various options for preparing taxes, from the challenges of self-preparation to utilizing online tools like TurboTax, and the benefits of enlisting a professional CPA, especially amid a shortage of tax preparers. They emphasize the importance o...
2025-02-1918 min
Last PaycheckTax-Free Growth & Life Satisfaction: Real Money TalkWelcome back to the Last Paycheck Podcast! CFP Professionals Rob and Archie Hoxton dive into the world of viral financial advice videos. They start by reacting to a video discussing the importance of setting up a Roth IRA, highlighting the benefits and clearing up misconceptions. Rob and Archie debunk erroneous claims about tax penalties and emphasize the advantages of tax-free growth within a Roth IRA. They discuss practical rules for Roth IRA withdrawals, ensuring listeners understand the various conditions to access their funds penalty-free. Additionally, the hosts touch on the best and worst financial advice featured in a...
2025-02-0517 min
Last PaycheckHidden Threats to Your Retirement: Inflation, Healthcare, and Emotional InvestingWelcome to the Last Paycheck Podcast! CFP professionals Rob and Archie Hoxton delve into the often-overlooked risks that can threaten your financial stability in retirement. While many are aware of the commonly discussed threats, this episode sheds light on hidden landmines like inflation, healthcare costs, long-term care, and the mistakes driven by emotional investing. Rob and Archie explain how these risks can erode your purchasing power and derail your financial plans, emphasizing the importance of sound portfolio construction and disciplined investing. They also offer actionable strategies to mitigate these risks, such as planning for inflation, choosing the r...
2025-01-2917 min
Last PaycheckStay Calm, Stay Invested: Strategies for Bear MarketsIn today's episode of Last Paycheck Podcast, CFP professional Archie Hoxton and Financial Planner Jimmy Sutch tackle the pressing concern of navigating bear markets. Archie emphasizes the importance of not panicking during market downturns and revisiting financial plans designed to withstand such fluctuations. They explain key concepts: market corrections, typically a 10% drop, occur annually, whereas bear markets, characterized by a 20% decline, happen every four to seven years. They highlight maintaining a consistent strategy and avoiding rash decisions like moving entirely to cash, which can be detrimental long-term. They also discuss adjusting distribution rates and recognizing bear markets a...
2025-01-2216 min
Last PaycheckThe Required Minimum Distributions Playbook: Minimize Taxes and Maximize SavingsWelcome to the Last Paycheck Podcast, CFP professional Archie Hoxton and Financial Advisor Jimmy Sutch dive deep into the topic of Required Minimum Distributions (RMDs). They unravel the complexities of RMDs, a vital yet often misunderstood aspect of retirement planning. They discuss the implications of RMDs, how they're calculated, and the potential tax liabilities they create. The episode offers valuable strategies to manage RMDs effectively, including Roth conversions and Qualified Charitable Distributions (QCDs), catering to both long-term and short-term planning perspectives. Additionally, the hosts emphasize that not everyone needs to worry excessively about RMDs, especially if you're a...
2025-01-1516 min
Last PaycheckCan Having a Financial Plan Help You Live Longer?In this episode of the Last Paycheck Podcast, CFP Professionals Rob and Archie Hoxton delve into the intriguing connection between financial planning and longevity. Inspired by a recent Wall Street Journal article, they explore how higher net worth and income can correlate with longer life expectancy. The discussion emphasizes the critical role of financial planning in affording better healthcare, healthier diets, and reduced stress, which collectively contribute to an extended lifespan. They navigate through the eye-opening research, uncovering alarming statistics about the US healthcare system and the financial challenges faced by many Americans. Tune in as Archie a...
2025-01-0814 min
Last PaycheckFinancial Resolutions that Stick in 2025Happy New year! In the first episode of Last Paycheck Podcast in 2025, CFP Professionals Rob and Archie Hoxton tackle the timely topic of New Year's resolutions—this time, with a financial twist. Tired of the usual "lose weight" promise, Rob explores more impactful financial goals. Archie suggests quick wins like bumping up your 401(k) contributions, setting up Roth IRAs, and establishing health savings accounts (HSAs). They also dive into more labor-intensive but crucial tasks. They emphasize the long-term benefits of automating savings and rebalancing investments, encouraging listeners to set and forget these pivotal actions. With actionable advice tha...
2025-01-0115 min
Last PaycheckHow to Handle Life Insurance and Annuities You No Longer WantIn this episode of Last Paycheck Podcast, CFP Professionals Rob and Archie Hoxton dive into a commonly faced financial dilemma: what to do with life insurance policies and annuities that no longer seem necessary. They explore a range of solutions, starting with simply retaining the policy, which could still fulfill vital financial needs. The discussion extends to potential pitfalls like surrender charges, market value adjustments, and tax implications for those considering canceling their policies. Rob and Archie also educate listeners on the tax-saving benefits of a 1035 exchange. Emphasizing the importance of informed decision-making and fiduciary advice, they a...
2024-12-2515 min
Last PaycheckLast Minute Planning: 4 Things to do to Supercharge Your RetirementWelcome to Last Paycheck Podcast, CFP Professionals Rob and Archie Hoxton discuss strategies to boost your retirement savings as you approach the end of your career. With practical advice targeted at individuals within three to five years of retiring, they break down four actionable steps to supercharge your savings. Topics include maximizing contributions to tax-favored accounts like IRAs and 401ks, diversifying the tax treatment of your investments, adjusting your asset allocation to balance risk and growth, and the critical importance of having a comprehensive financial plan. They also dive into recent changes in retirement laws, such as t...
2024-12-1817 min
Last PaycheckThe Basics of Investing: Breaking Down Stocks, Bonds, and MoreWelcome to this week's episode of Last Paycheck Podcast! CFP Professionals Rob and Archie Hoxton take you back to the basics of navigating investment vehicles, focusing on some of the most common yet often misunderstood options. They break down the essentials of stocks and bonds, explaining how owning shares of a company or lending money through bonds can impact your retirement portfolio. The episode also dives into mutual funds and exchange-traded funds (ETFs), highlighting their similarities, differences, and potential advantages and disadvantages. Mutual funds, with their broad diversification but potential tax inefficiencies, are contrasted with the more t...
2024-12-1117 min
Last PaycheckUpcoming 401k and IRA Changes Explained: What You Need to KnowIn this episode of theLast Paycheck Podcast, CFP Professionals Archie and Rob Hoxton talk about the significant upcoming changes impacting retirement accounts. They explore new rules for 401ks, simple IRAs, and inherited IRAs, providing vital clarifications for those approaching retirement. Key topics include the increased contribution limits known as "super catch-up" for individuals aged 60 to 63, and the shift towards Roth contributions for catch-ups. They also discuss the introduction of automatic opt-in systems for 401ks, designed to encourage consistent saving habits. Additionally, they address new guidelines on required minimum distributions for inherited IRAs. Call or text Ho...
2024-12-0416 min
Last PaycheckUltimate Year-End Tax Planning Tips for 2024Let's talk taxes! In this episode of Last Paycheck Podcast, CFP professionals Archie Hoxton and Rob Hoxton dive into essential year-end tax planning strategies to help you maximize your financial health. As the year rapidly comes to a close, they discuss key moves that could make a significant difference when filing for the 2024 tax year. Topics include the anticipated changes in tax legislation, optimizing traditional IRA contributions, the power of Health Savings Accounts (HSAs), and the benefits of 529 college savings plans. They also explore smart charitable giving strategies through donor-advised funds and Qualified Charitable Distributions (QCDs). This...
2024-11-2716 min
Last PaycheckCognitive Decline in Retirement: What You Need to Know to Safeguard Your FutureIn this week's episode of Last Paycheck Podcast, our hosts, CFP professionals Rob and Archie Hoxton, tackle the crucial yet often overlooked topic of cognitive decline in retirement. They explore how cognitive issues pose both health and financial risks, affecting decision-making abilities and financial stability. Rob and Archie emphasize the importance of proactive planning, such as appointing a durable power of attorney and consulting trusted advisors, to mitigate these risks. With personal anecdotes and practical advice, this episode serves as a comprehensive guide to safeguarding your financial well-being as you age. Tune in for essential tips to h...
2024-11-2016 min
Last PaycheckNavigating Overspending: Staying Within Your Means in a Tech-Driven WorldIn this week's episode of Last Paycheck Podcast, CFP professionals Rob and Archie Hoxton dive into the often-overlooked topic of overspending in today's frictionless financial landscape. Rob and Archie shed light on the complexities of staying within one's means, especially in an era where digital payment methods make it effortless to spend money mindlessly. They discuss how being mindful of your expenditures is crucial, particularly during retirement when income is fixed. They emphasize the significant impact of subscription services, contactless payments, and even digital pickpocketing on our financial habits. They also explore old-fashioned yet effective budgeting techniques...
2024-11-1316 min
Last PaycheckWhy the 2025 Social Security Cost of Living Increase is LowerIn this week's episode of the Last Paycheck Podcast, CFP Professionals Archie and Rob Hoxton delve into the recent announcement of the 2025 Social Security cost of living adjustment (COLA). Set at 2.5%, this figure has left many retirees concerned about its impact amidst rising prices. Archie and Rob discuss the calculation methods used by the Department of Labor, explaining how the Consumer Price Index for Urban Wage Earners (CPIW) determines these adjustments. They emphasize that while Social Security COLAs are beneficial, they are not sufficient to fully hedge against inflation's effects on retirees. They offer insights into delaying S...
2024-11-0615 min
Last PaycheckHow to Prepare for Medicare Open Enrollment with Expert Advice from Ben BulgrienIn this episode of the Last Paycheck Podcast, CFP professional Archie Hoxton hosts Medicare expert Ben Bulgrien from Kohorn Financial Group. Archie dives deep into the critical topic of Medicare open enrollment with Ben for their third discussion on this complex subject. They cover key aspects of reviewing and updating Medicare coverage, emphasizing the importance of evaluating prescription drug plans, Medicare Advantage plans, and understanding potential changes brought by the Inflation Reduction Act. Ben provides detailed insights into annual review processes, the implications of switching plans, and navigating medical underwriting. This episode is filled with practical advice o...
2024-10-3017 minLast PaycheckMaking Sense of Medicare: Picking the Right Plan for YouWelcome to the Last Paycheck Podcast, CFP Professionals Archie and Rob Hoxton welcome back Medicare expert Ben Bulgrien from Korhorn Financial Group for an insightful continuation on Medicare plans. The episode dives deeper into the diverse components of Medicare, including parts A, B, C, and D, as well as the various supplemental plans from A through N. Ben expertly breaks down the differences between Original Medicare and Medicare Advantage plans, emphasizing the critical decision factors such as cost, coverage, and flexibility. He also highlights the complexities of navigating plan networks and the potential long-term implications of choosing o...
2024-10-2416 min
Last PaycheckNavigating Medicare Enrollment and Penalties with Expert Ben BulgrienWelcome to our three part conversation with Ben Bulgrien from Kohron Financial Group on the Last Paycheck Podcast. CFP Professionals Archie and Rob Hoxton are joined by Medicare expert Ben Bulgrien to dive into the complexities of Medicare enrollment. They explore the essential steps and timelines for signing up, providing a comprehensive guide to avoid costly penalties. Ben offers practical advice on navigating Medicare while still employed, understanding qualifying health plans, and the impact of income-related monthly adjustment amounts (IRMA). The discussion also touches on the strategic use of Health Savings Accounts (HSAs) in retirement. This episode i...
2024-10-1615 min
Last PaycheckUpcoming Tax Changes - What You NEED To Know!In this week's episode of the Last Paycheck Podcast, CFP Professionals Rob and Archie Hoxton dive into the impending expiration of the significant 2017 tax law changes and their potential impact on taxpayers. With the 2025 sunset date looming, they highlight the importance of planning ahead for what could be a substantial shift in tax brackets, deductions, and estate planning rules. The episode covers the nuances of the marginal tax bracket adjustments, the reduction in standard deductions, and the return of personal exemptions. Rob and Archie also discuss the implications for small business owners, charitable giving, and estate planning t...
2024-10-0917 min
Last PaycheckDownsizing in Retirement: Sell or Rent?In this episode of the Last Paycheck Podcast, CFP Professionals Archie Hoxton and Rob Hoxton dive into the intriguing topic of whether downsizing your home upon retirement makes sense—or if it might be more beneficial to keep your current home and rent it out. They discuss the various financial and emotional aspects you need to consider. From understanding capital gains tax exclusions to dealing with the real-life challenges of being a landlord, Archie and Rob provide a comprehensive analysis. They highlight key factors such as the impact of inflation, mortgage rates, rental income, and property management. Tun...
2024-10-0215 min
Last PaycheckAre You Lending Money For Free Without Knowing?Welcome to the Last Paycheck Podcast; CFP Professionals Archie and Rob Hoxton unravel the hidden traps of lending money without even realizing it. Kicking off with the pitfalls of tax refunds and overpayment, they reveal how Uncle Sam benefits from your hard-earned money without paying interest. They then pivot to scrutinize checking accounts and how excessive balances can serve as interest-free loans to banks. Gift cards also come under fire, with billions in unused balances bolstering corporate profits. They also touch on practices in sweep accounts and the dubious ethics of some major financial institutions. With practical a...
2024-09-2516 min
Last PaycheckInvest Your Cash or Keep It Liquid?Welcome back to Last Paycheck Podcast, hosts and CFP Professionals Rob and Archie Hoxton tackle a common yet critical financial question: how much cash should one keep on hand? They talk about the nuances of maintaining an emergency fund, highlighting the importance of liquidity versus the temptation to invest cash reserves in the stock market. With market conditions fluctuating, they discuss various cash instruments and their appropriateness based on individual circumstances, such as high-yield savings accounts versus CDs. The episode explores scenarios that may warrant larger cash reserves, like having aggressive investments or variable income. Additionally, they a...
2024-09-1816 min
Last PaycheckIs Ramsey Right About Early Social Security?In this week's episode of the Last Paycheck Podcast, hosts and CFP professionals Rob and Archie Hoxton discuss the advice from financial coach Dave Ramsey about taking Social Security early at age 62 and investing the funds. They talk about the complexities and risks associated with this strategy, emphasizing that such a significant decision shouldn't be taken lightly or made based on generalized advice. The episode highlights the importance of individualized financial planning and the potential pitfalls of expecting high returns from mutual funds. They underscore the benefits of delaying Social Security to maximize returns and the considerations o...
2024-09-1116 min
Last PaycheckOwn Nothing, Rent Everything?If you'd like to chat with Rob or Archie further, please schedule a consultation: https://calendly.com/archiehoxton/last-paycheck-consultation In this week's episode of the Last Paycheck Podcast, CFP professionals Archie and Rob Hoxton talk about the concept of owning nothing and renting everything. They explore the lifestyle of individuals who have embraced full-time renting to maximize flexibility and minimize the burdens of ownership. They discuss various rental scenarios from everyday items like clothing and tools to larger investments like RVs and homes, weighing the advantages and potential drawbacks. Rob shares his personal experiences with rental tools an...
2024-09-0415 min
Last PaycheckNew Home Decisions: Buy Now or Wait?Welcome back to Last Paycheck Podcast, hosts and CFP Professionals Rob and Archie Hoxton talk about the complexities of the current housing market to answer the pressing question: should you buy a house now or wait? With interest rates significantly higher than in recent years and a limited supply of new homes, they explore how historical trends since the Great Recession have led to today's unique market challenges. They discuss the implications for both first-time buyers and those looking to downsize as they approach or are in retirement. Offering a blend of statistical insights and personal anecdotes...
2024-08-2816 min
Last PaycheckWhy You Shouldn't Stop 401K Contributions, Even During Tough TimesIn this week's episode of the Last Paycheck Podcast, hosts Archie and Rob Hoxton talk about the alarming trend highlighted in a recent Moneywise article by Maury Bookman: 46% of middle-class workers have reduced or stopped their 401K contributions due to inflation and high prices. Exploring the broader economic backdrop, they discuss how rising living costs and stagnant wages compel people to cut back on crucial retirement savings. They also emphasize the detrimental impact of growing consumer debt and the missed opportunities from halting contributions, such as losing employer matches and tax benefits. They highlight the long-term costs, i...
2024-08-2116 min
Last PaycheckInfinite Banking: Separating Fact from Fiction in the Be Your Own Bank ConceptIn this episode of the Last Paycheck Podcast, hosts Archie and Rob Hoxton react to a video promoting the concept of "infinite banking" or "be your own bank" using whole life insurance policies. The video creator makes claims about earning high returns and borrowing money for free. Archie and Rob break down these claims, explaining the differences between banks and insurance policies, and how policy loans actually work. They emphasize that while cash value life insurance has its place, it should be purchased for the right reasons, such as providing a permanent death benefit for loved ones w...
2024-08-1416 min
Last PaycheckLeaving Your Job? Here's What You Need to Know About Your 401(k)In this week's episode of the Last Paycheck Podcast, CFP Professionals Archie Hoxton and Rob Hoxton discuss the common mistakes people make when leaving a job and deciding what to do with their 401(k). They emphasize the importance of staying organized and informed to avoid costly errors. The hosts outline three main options: leaving the 401(k) with the former employer, withdrawing the funds (which can incur significant taxes and penalties), or rolling the balance into a new employer's plan or a rollover IRA. They highlight the potential pitfalls of each option, such as forgetting about the account...
2024-08-0717 min
Last PaycheckPresidential Election Year: Good or Bad for the Market?Welcome back to Last Paycheck Podcast! Hosts and CFP Professionals Archie Hoxton and Rob Hoxton explore the dynamic relationship between politics and the stock market, particularly during election years. Broadcasting from their brand-new studio at Hoxton Planning and Management headquarters, the duo debunk the myth that politics are a primary driver of market performance. They emphasize that while short-term market volatility may occur around elections, historical data shows that election years often yield positive market returns, irrespective of which party wins. With insights dating back to 1928, Archie and Rob demonstrate that maintaining a well-constructed, diversified portfolio and...
2024-07-3115 min
Last PaycheckVacation Home Fever: What You Need To Consider Before Buying a Second HomeIn this week's episode of Last Paycheck Podcast, financial planners Rob and Archie Hoxton talk about the enticing yet complex decision of buying a vacation home. Rob initiates the conversation, reflecting on the appeal of owning a second home in a favorite vacation spot. They discuss the dreams versus realities of such an investment, emphasizing that while a second home can enhance your lifestyle and bring family together, it also involves significant financial and non-financial considerations. They cover key aspects such as financing, property taxes, insurance, and the pitfalls of relying on rental income to afford the...
2024-07-2416 min
Last PaycheckAdvanced Roth IRA Strategies: Backdoor to Mega Backdoor StrategiesIn this episode of the Last Paycheck Podcast, hosts and financial planners Archie and Rob Hoxton dive deep into the world of Roth IRAs and 401(k) plans, exploring the benefits and strategies for building your Roth tax bucket. The discussion tackles the incredible story of Peter Thiel purportedly amassing $5 billion within a Roth IRA. Archie and Rob break down the fundamental differences between traditional and Roth IRAs, offering valuable insights into strategies like Roth conversions, backdoor Roth contributions, and even the mega backdoor Roth. They emphasize the importance of tax planning and knowing your options to maximize r...
2024-07-1716 min
Last PaycheckAre You Financially Healthy? Key Steps for a Secure FutureWelcome back to Last Paycheck Podcast! In this week's episode, hosts and certified financial planners Archie and Rob Hoxton take a deep dive into assessing financial health. Just as you'd get a medical checkup, they explore how to do a financial wellbeing check by examining critical elements such as emergency funds, debt management, and insurance coverage. The episode emphasizes the importance of maintaining a liquid emergency fund, managing debt effectively, and ensuring adequate insurance to guard against life's uncertainties. The hosts also stress the significance of saving for the future and using a comprehensive financial plan as a...
2024-07-1014 min
Last PaycheckUnderstanding Tax Benefits of Donations: Expert Tips and AdviceIn this week's episode of Last Paycheck Podcast, certified financial planners Archie and Rob Hoxton dive into the world of charitable giving strategies. As the hosts navigate through the complexities of tax benefits associated with donations, they shine a light on various methods to maximize contributions effectively. From the straightforward cash donations to the more advantageous securities donations and donor-advised funds, listeners gain insights into how to leverage their charitable contributions for greater tax efficiency. The episode also covers Qualified Charitable Distributions, a powerful tool for those over 70 and a half looking to benefit from non-taxable IRA...
2024-07-0316 min
Last Paycheck2025 Social Security Increase Announcement - Will You Get a Raise?In this week's episode of Last Paycheck Podcast, hosts and certified financial planners Archie and Rob Hoxton talk about the highly-anticipated topic of Social Security cost of living increases for 2025. They explore how these adjustments are calculated, focusing on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Rob shares startling statistics about the reliance of nearly 40% of retired Americans on Social Security as their sole income source, emphasizing the importance of strategic planning. With insights into inflation's impact and asset management tips, the hosts provide valuable advice for maximizing Social Security benefits. Despite uncertainties, Archie...
2024-06-2616 min
Last PaycheckHealth Savings Accounts 101: Avoid These Common MistakesIn this week's episode of the Last Paycheck Podcast, hosts Archie and Rob Hoxton dive deep into Health Savings Accounts (HSAs), highlighting their unparalleled tax benefits and how they can be a powerful tool for future healthcare costs. Revisiting the basics and rules of HSAs, they draw clear distinctions between HSAs and Flexible Spending Accounts (FSAs). The episode emphasizes the importance of understanding qualified medical expenses, contribution limits, and the pitfalls of over-contributing or not investing HSA funds for growth. Archie and Rob discuss scenarios such as family vs. single coverage contributions and the penalties for misusing H...
2024-06-1915 min
Last PaycheckTax Torpedoes in Retirement: Avoid Unexpected Tax SurprisesWelcome back to the Last Paycheck Podcast! Hosts Archie and Rob Hoxton dive into the ominous world of "tax torpedoes" and how they can unexpectedly impact retirees. They break down the surprising complexity of Social Security taxation and the ripple effects it can have on your income. The duo discusses the underestimated pitfalls, like higher tax bills from seemingly harmless IRA withdrawals and the dreaded IRMA (Income Related Monthly Adjustment Amounts) that can inflate Medicare premiums. Emphasizing the importance of strategic financial planning, they provide insights into leveraging various tax buckets—IRA, Roth IRA, taxable accounts, and HSA...
2024-06-1216 min
Last PaycheckFinancial Advisors React: Good Tips and Bad PracticesOn today's episode of the Last Paycheck Podcast, hosts Archie and Rob Hoxton react to financial advice that they agree with online. The episode kicks off with a spirited discussion about a video featuring Caleb Hammer and a 40-year-old living with her mother, who struggles with financial independence due to frivolous spending habits. Archie and Rob dissect the harsh yet honest advice delivered by Caleb, emphasizing the importance of responsible financial decisions and the dangers of an entitlement mindset. The second half of the episode focuses on another clip featuring Dave Ramsey, where the topic shifts to...
2024-06-0517 min
Last PaycheckTackling Financial Regrets: Retirement Savings, Debt, and Emergency FundsIn this episode of the Last Paycheck Podcast, hosts Archie Hoxton and Rob Hoxton delve into the subject of financial regrets and how to avert them. They start by discussing common regrets, such as not saving enough for retirement and not starting early enough. The importance of compound interest over the long term is highlighted, along with eye-opening statistics from Quicken and Forbes about the prevalence and stress caused by financial regrets. They tackle issues like consumer debt, ineffective spending habits, and the dangers of lending money to friends or family. They stress the necessity of an emergency fund...
2024-05-2915 min
Last PaycheckSpaving: Can Spending More Actually Save You More?In this week's episode of the Last Paycheck Podcast, certified financial planners Archie Hoxton and Rob Hoxton dive into the intriguing concept of "spaving"—the idea of spending more to save more that has roots in behavioral finance. Rob, inspired by an insomnia-induced CNBC article, discusses how spaving often leads consumers to spend more under the illusion of savings. They explore common scenarios, such as online shopping for free shipping, car upgrades, and credit card reward points, highlighting how retailers exploit these behaviors. While there are situations where spaving can be beneficial, Archie and Rob stress that it...
2024-05-2214 min
Last PaycheckCash or Credit: What's the Best Way to Buy a Car?In this week's episode of the Last Paycheck Podcast, hosts and certified financial planners Archie Hoxton and Rob Hoxton dive into the common dilemma of whether to buy a car with cash or finance it. They explore the pros and cons of both options, emphasizing the long-term financial impacts of financing, such as interest rates and the total cost over time. Archie and Rob criticize the common sales tactics that can lead consumers to spend beyond their means and discuss strategies to negotiate better deals at the dealership. They advise listeners on using financing as a negotiation tool, the...
2024-05-1516 min
Last PaycheckHow Sustainable is Social Security: Should You Be Worried?In this episode of the Last Paycheck Podcast, certified financial planners Archie Hoxton and Rob Hoxton tackle the pressing issue of Social Security's future sustainability. They begin by addressing common fears spurred by the Social Security board of trustees' announcement regarding the projected depletion date of the Social Security Trust fund. The Hoxtons delve into historical measures taken to avert past crises in the Social Security system and discuss potential changes that could ensure its longevity. They examine possibilities such as increasing payroll taxes, adjusting full retirement ages, modifying early retirement penalties, and altering the income cap f...
2024-05-0816 min
Last PaycheckInvesting in Gold: Should You Do it in 2024?In this week's episode of the Last Paycheck Podcast, hosts and certified financial planners Archie Hoxton and Rob Hoxton delve into the topic of investing in gold. They kick off the conversation with a mention of gold bars being available at Costco and segue into a more serious discussion about gold's role in an investment portfolio. They consider the reasons people turn to gold, particularly during times of economic uncertainty, such as inflation and geopolitical tensions. As they explore the practicalities and risks of owning physical gold versus gold-related financial products (like ETFs and gold mining stocks), t...
2024-05-0116 min
Last PaycheckHow to Protect Yourself from Fad InvestmentsIn this week's episode of Last Paycheck Podcast, hosts and certified financial planners, Archie and Rob Hoxton, delve into the captivating world of fad investing, or as it's commonly termed, speculating. They commence by mulling over the puzzling allure of companies with soaring stock prices despite having no profitable earnings. Their discussion encapsulates historical precedents like the South Sea Company bubble, the dot com era's irrational exuberance, and recent phenomena like DJT - Donald Trump's Truth Social's SPAC-fueled market fling. Through the tale of Isaac Newton's investment misfortunes, they illustrate that intelligence doesn't exempt one from the p...
2024-04-2415 min
Last PaycheckExposing Faulty Financial Advice on 401K InvestmentsWelcome back to the Last Paycheck Podcast. Today, certified financial planners Archie Hoxton and Rob Hoxton dive into exposing and debunking viral financial advice circulating on social media platforms. Remember - don't believe everything you see online! They kick off the episode by reacting to misinformed claims about 401(k) retirement plans, highlighting the inaccuracies presented in a viral clip. They correct the false narrative that 401(k)s were created post-Great Depression and address the misconception that saving for retirement through these plans is ineffective. They also analyze a second video that promotes cash value life insurance as...
2024-04-1714 min
Last PaycheckHow to Become the Millionaire Next Door?In this week's episode of the Last Paycheck Podcast, financial planners Archie Hoxton and Rob Hoxton delve into the topic of achieving millionaire status. They highlight that the archetypal millionaire next door doesn't flaunt their wealth, often working in professions like engineering, teaching, or trades like plumbing and HVAC — diligently saving and investing in a frugal manner. The Hoxton duo discusses crucial financial strategies for building wealth, beginning with establishing an emergency fund to insulate against risk. They advise on taking advantage of tax-smart investments, employer 401(k) matches, and avoiding high-interest consumer debt. The episode underscores the po...
2024-04-1017 min
Last PaycheckNew Market High Point… Should I Sell My Stock?In this week's episode of Last Paycheck Podcast, hosts Archie Hoxton and Rob Hoxton dive into the timely topic of stock market highs and whether it's the right time to sell stocks. As the market hits all-time highs, you might be wondering if it's a signal to divest. Archie and Rob provide insightful guidance, emphasizing the importance of assessing individual risk tolerance and investment timelines. They discuss the significance of stock price versus value, citing examples of overvalued stocks and the importance of diversification. They stress the need for periodic rebalancing and potential red flags such as an over-concentration...
2024-04-0316 min
Last PaycheckAre I-Bonds Still a Smart Investment in Today's Environment?In today's episode of Last Paycheck Podcast, hosts Archie Hoxton and Rob Hoxton delve into the topic of I bonds and their current attractiveness as an investment option. They provide a comprehensive discussion on the features of I bonds, including fixed and variable interest rates and their inflation-protecting nature. Archie and Rob highlight the historical trends of I bond interest rates, offering insights into how changing inflation levels impact their attractiveness as an investment. Additionally, they address the taxation and liquidity aspects of I bonds, providing a well-rounded analysis for potential investors. Watch on YouTube: https://youtu...
2024-03-2714 min
Last PaycheckAre Americans Saving Enough for Retirement?In this week's episode of Last Paycheck Podcast, hosts Archie Hoxton and Rob Hoxton delve into a crucial topic: the state of retirement savings in America. They provide insightful commentary on the average retirement savings by age group, emphasizing that these figures are not prescriptive but rather a gauge for individuals to assess their progress. They highlight the importance of understanding compound interest and the impact of early and consistent contributions to retirement savings. They also address common misconceptions and provide practical advice for navigating the complexities of retirement planning. Watch on YouTube: https://youtu.be/aCrZSYZpz-Y
2024-03-2015 min
Last PaycheckInterest Rates Decoded: What to Expect in 2024In this episode of Last Paycheck Podcast, hosts Archie Hoxton and Rob Hoxton delve into the hot topic of interest rates and their potential impact on everyday people. They discuss the context of rising and falling interest rates, shedding light on the implications for savers, investors, and those in the housing market. They explore the effects of interest rate cuts on various financial instruments such as CDs, money market funds, and high yield savings accounts, painting a picture of how these changes could impact individuals' financial strategies. They also touch on the potential consequences for the stock a...
2024-03-1315 min
Last PaycheckFinancial News: Should You Believe Everything You Read?In this episode of Last Paycheck Podcast, hosts Archie Hoxton and Rob Hoxton tackle the complex landscape of financial media and offer insights on how to navigate it. With the proliferation of online information, they emphasize the importance of educating oneself about basic financial concepts before delving into media sources. They caution against succumbing to sensationalized news and advise listeners to scrutinize the legitimacy of sources, particularly in the digital age where deceptive content is rife. They stress the significance of seeking out data-driven information and being wary of fear-mongering tactics employed by some outlets. Offering examples f...
2024-03-0616 min
Last PaycheckThe FIRE Movement: How to Achieve Early Retirement and What to Look Out ForIn today's episode, Rob and Archie discuss the "FIRE Movement" - Financial Independence, Retire Early. They walk through how it's possible to achieve this lifestyle for those looking to retire early and the financial discipline it takes. They talk about the different lifestyles of FIRE, including explaining "Barista FIRE," where you don't stop working entirely. Alternatively, if you plan to retire completely, they highlight looking at your portfolio and savings to ensure you're earning enough for the lifestyle you want to lead. Rob and Archie delve into the balance this lifestyle takes and some potential pitfalls for a...
2024-02-1417 min
Last PaycheckChoosing a Financial Advisor: How To Find the Right One For You?One of your resolutions this year is to finally start working with a financial advisor? In this episode, Archie and Rob give their advice on exactly how to go about this. They start by addressing the complexity of the task, given the multitude of credentials and compensation models in the industry. It's really important that you understanding your personal financial needs and concerns before seeking out an advisor. They explain various compensation models, such as commissions, fees, and fee-based structures, shedding light on the potential conflicts of interest associated with each model. Additionally, they highlight th...
2024-01-2417 min
Last PaycheckPreparing Yourself or a Loved One for Losing Mental CapacityToday, Archie and Rob Hoxton tackle the crucial yet often uncomfortable topic of preparing for the possibility of losing mental capacity. With their expertise as financial advisors, they emphasize the importance of having the right legal authority and support system in place. They discuss the significance of being vigilant for signs of mental decline in oneself and aging loved ones, highlighting the vulnerability to financial scams and exploitation. They share the essential documentation required, such as power of attorney, healthcare power of attorney, and living wills, to empower trusted individuals to make critical decisions when ca...
2024-01-1716 min
Last PaycheckFinancial Scams: What You Need to Know and How to Protect YourselfToday, Archie and Rob delve into the increasingly sophisticated world of financial scams. They cover various types of scams, including checkwashing, romance scams, and paycheck schemes, providing real-life examples and valuable insights on how these scams work. Additionally, they shed light on the alarming use of artificial intelligence in grandparent scams, emphasizing the importance of increased vigilance and awareness in financial transactions. Archie and Rob also highlight red flags and precautionary measures for safeguarding oneself against potential scams, such as being cautious with gift card requests and wire instructions received via email. Watch on...
2024-01-0317 min
Last PaycheckAre You Ready for Early Retirement?Join Archie and Rob as they dive into the multifaceted realm of early retirement. They discuss the different tools at your disposal and the complexities of tapping into retirement accounts before the conventional age. They highlight the importance of having a diverse portfolio and "tax buckets" to help you have a comprehensive retirement plan. They discuss the impact of healthcare costs in retirement and the emotional hurdles associated with leaving the workforce, from adjusting budgets to coping with newfound freedom. Finally, they discuss the complexities of Social Security decisions, weighing the temptation of early withdrawals against long-term t...
2023-12-2016 min
Last PaycheckWant to Convert 529 Funds to Roth IRA? Now You May be Eligible.Join Archie and Rob as they discuss the changes brought about by the Secure Act 2.0. This new legislation has overhauled the legal and tax landscape of American retirement. They break down the groundbreaking provision that allows the rollover of unused 529 funds into a Roth IRA. Together, they delve into the complexities surrounding this game-changing opportunity. They discuss the maximum yearly and lifetime contributions, beneficiary criteria, and the intricacies involved in this process. They also highlight some of the outstanding questions that the public has, which are left unanswered by the government, and provide advice on how to...
2023-12-1315 min
Last PaycheckUnderstanding Certificates of Deposit: Exploring the Pros and Cons of CD InvestmentsArchie and Rob discuss the topic of certificates of deposit (CDs). A CD is a financial instrument offered by banks where you deposit money for a certain period of time and earn interest in return. They break down the mechanics of CDs, including how they used to be represented by physical certificates but now mostly appear as line items in online banking statements. They also highlight the importance of FDIC insurance, which protects bank deposits, including CDs, up to $250,000 per person. Archie and Rob delve into the advantages and potential risks of investing in CDs. They emphasize th...
2023-12-0616 min
Last PaycheckThe Benefits of Tax Loss Harvesting: Boosting Your After-Tax Investment ReturnsArchie and Rob explore the topic of tax loss harvesting. They discuss its increasing popularity among financial advisors and individual investors, as well as the benefits it brings in terms of maximizing after-tax returns. Tax loss harvesting involves selling investments at a loss to offset taxable gains or income. Rob shares his experience of manually harvesting losses at the end of each year, but highlights the inconsistency and missed opportunities that came with this approach. Chaudhuri, Shomesh and Burnham, Terence C. and Lo, Andrew W., (2020) An Empirical Evaluation of Tax-Loss Harvesting Alpha. Financial Analysts Journal, 76(3), 99-108. https://d...
2023-11-2916 min
Last PaycheckHealth Savings Accounts: The Ultimate Account for Tax Free Saving and InvestingArchie and Rob delve into the topic of Health Savings Accounts (HSAs) and the tax advantages they offer. As certified financial planners, they bring their expertise to explain how HSAs can provide significant tax savings and work as a powerful investment tool. Throughout the episode, they discuss the basics of HSAs, including how they function and who is eligible to open one. They also highlight the lesser-known aspect of HSAs, which allows account holders to invest their funds into various investment options like mutual funds and ETFs. By letting the funds grow and accumulate tax-free, HSAs can...
2023-11-2217 min
Last PaycheckA Comprehensive Guide to Pension Plans for RetireesRob and Archie dive into the topic of pensions. They begin by discussing the rarity of pension plans in today's workforce and highlight the importance of knowing if you have a pension, even if you've left the company that provided it. They explain what a pension is - a defined benefit plan where the employer makes contributions to a portfolio of investments to provide a guaranteed income or a lump sum payout upon retirement. They discuss the benefits of pension plans, such as not having to bear the investment risk and the advantage of professional management.
2023-11-1518 min
Last PaycheckUnderstanding the Impact of Changing Interest Rates: A Guide for Savers and InvestorsRob and Archie dive into the topic of interest rates and their impact on various financial situations. They discuss the recent increase in interest rates and how it is finally benefiting savers, particularly retirees who rely on CDs for interest income. They explore the historical context of interest rates, starting with the financial crisis of 2008 and the subsequent low interest rate environment. They explain how the Federal Reserve's strategies to stimulate the economy and control inflation have influenced interest rates over the years. This episode on YouTube: https://youtu.be/DOk5jD_jVnk Li...
2023-11-0817 minLast PaycheckSpooky Financial Mistakes: A Halloween SpecialArchie and Rob discuss this spooky mistake you could make: not matching your investment portfolio to your time horizon. This episode on YouTube: https://youtu.be/XnzqS0RAOaM Listen in on conversations with Certified Financial Planners Archie and Rob Hoxton as they share weekly wisdom to help you retire and stay retired. Have you ever wondered what it will feel like when you get your last paycheck? Whether it's excitement, anxiety, or anything in between, this show is for you. Visit: http://www.thelastpaycheck.com If you'd like to chat with Ro...
2023-10-2517 minLast PaycheckRetirement Health Insurance ABCs: Understanding Medicare with Scott Aschoff: Part 1Rob welcomes Scott Aschoff from Medicare Back Office to the show, and the two discuss retiree health insurance. With open enrollment right around the corner, Rob and Scott provide valuable insights and information for those nearing retirement and considering their healthcare options. Scott's bio: With Scott's 25 years of experience working in insurance, he is a great resource as the Senior Account Executive for Medicare BackOffice. His goal is to help advisors and agents provide a resource to help their clients with their Medicare needs. Scott has worked both as an agent and advisor and dir...
2023-10-0418 minLast PaycheckAnnuity Remorse: Is There a Way Out?Archie and Rob delve deeper into the topic of annuities. Rob shares a real-life example of a client who felt trapped in an annuity due to low interest rates and a long surrender charge period. They explain how annuities often involve high fees and surrender charges, and emphasize the importance of reading the prospectus and understanding what you're buying before making the investment. They touch on various options for getting out of an annuity, including surrendering the contract beyond the surrender charge and the tax implications involved. This episode on YouTube: https://youtu.b...
2023-09-2017 min