EPISODE 118 – Should You Give While You’re Living? The Financial and Emotional Case for a Warm-Hand Legacy

Many people plan to leave an inheritance to their family, favorite charities, or both. But what if there were benefits to giving while you’re still alive?

In Episode 118 of Last Paycheck, Archie Hoxton and Jimmy Sutch unpack the increasingly popular strategy of “giving while living”—sometimes called “giving with a warm hand.” Rather than waiting until death to transfer assets, this approach allows donors to see the impact of their generosity in real time.

Why People Choose to Give While Living

For some, it’s about timing: helping a child buy a first home, funding a grandchild’s 529 plan, or making a meaningful charitable gift during their lifetime. Others are motivated by the emotional reward—watching loved ones thrive or seeing a cause they care about move forward.

Key motivators include:

  • A strong financial foundation and guaranteed income
  • A desire to reduce future estate complexity
  • A wish to avoid probate or family conflict
  • The emotional fulfillment of seeing a gift make a difference

The Financial Upsides

Archie and Jimmy highlight several financially strategic ways to give:

  • Annual Gift Tax Exclusion: In 2024, individuals can give up to $18,000 per recipient tax-free (double for couples).
  • Direct Payments to Institutions: Paying medical or tuition expenses directly to providers avoids gift tax and offers simplicity.
  • Appreciated Stock Gifts: Donating appreciated investments can reduce capital gains taxes.
  • Qualified Charitable Distributions (QCDs): For those 70.5 and older, QCDs allow IRA assets to be donated directly to charity, reducing taxable income.
  • Donor-Advised Funds (DAFs): These vehicles let donors receive an upfront deduction while distributing the funds over time.

But It’s Not for Everyone

The episode is clear: giving while living must be done with caution. If your own retirement plan isn’t secure, or if you could one day face expensive health care or long-term care needs, giving prematurely could put you at risk.

The best way to determine readiness is through comprehensive financial planning. Archie notes that one of the greatest gifts you can give your heirs is not becoming a financial burden in the future.

Next Steps: Should You Start Giving?

If you’re thinking about giving while living, ask yourself:

  • Have I secured my financial future?
  • Are there opportunities to reduce taxes now through smart giving?
  • Is there a legacy I’d like to see come to life today?

Generosity can be powerful, especially when planned wisely. With the right strategy, you can give with confidence and impact.

Is Giving While Living Right for You?

Download our warm-hand legacy worksheet and see if you’re financially—and emotionally—ready to share your wealth to evaluate your current investments, or schedule a planning consultation with our fiduciary advisors today.
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Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Episode 117: Building a Portfolio That Works for You

If you’ve ever wondered, How do I build an investment portfolio that actually fits my life?, you’re not alone. In Episode 117 of The Last Paycheck Podcast, Rob and Archie Hoxton dive deep into the fundamentals of portfolio construction. Whether you’re just starting out or nearing retirement, understanding your portfolio mix is key to long-term success.

What Is a Portfolio?

Think of your portfolio as a financial recipe. The main ingredients? Stocks and bonds—each with distinct roles.

  • Stocks (Equities): Represent ownership in a company. Their value rises and falls based on company performance and market dynamics. Stocks are typically used to fuel growth.
  • Bonds (Fixed Income): Represent a loan to a government or corporation in exchange for interest payments. Bonds offer stability and income, especially useful in retirement.

Rob and Archie explain that the right mix depends on your risk tolerance, investment timeline, and income needs.

The Role of Diversification

Diversification isn’t just about owning multiple investments—it’s about spreading your risk across different types of assets that don’t all move together. This might include:

  • U.S. and international stocks
  • Government and corporate bonds
  • Various sizes and sectors of companies
  • Short-term and long-term bond maturities

Proper diversification can lower portfolio volatility while maintaining potential returns.U.

Bonds: More Than Just “Safe”

While many investors are familiar with stocks, bonds are often misunderstood. Rob and Archie break down the different bond categories (government, municipal, corporate), credit ratings, and the concept of duration—a measure of how sensitive a bond is to interest rate changes. For example:

  • Longer duration bonds are more sensitive to rising interest rates.
  • High-yield (junk) bonds offer greater return potential but carry more risk.

Knowing how to blend different types of bonds helps create a cushion against market fluctuations.

How Much Risk Is Right for You?

Your ideal portfolio should reflect:

  • Your age and retirement timeline
  • Your ability and willingness to accept market volatility
  • Whether you’re in accumulation or distribution phase

As a general rule:

  • Younger investors can afford to lean more into stocks
  • Those approaching or in retirement often shift toward bonds for income and security

Rob and Archie recommend using the Investment Alignment Worksheet to evaluate whether your portfolio aligns with your financial goals.

Ready to Build a Smarter Portfolio?

A well-structured portfolio isn’t built on guesswork. Download our free Investment Alignment Worksheetto evaluate your current investments—and schedule a no-pressure consultation with Hoxton Planning & Management to get a second opinion. Your future deserves clarity. Let’s build it, together.
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Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Episode 116 – How to Handle Bear Markets at Every Stage of Life

Weathering the Storm: How to Handle Bear Markets Based on Your Age and Stage

Market downturns are a fact of life—just like taxes, birthdays, and awkward holiday dinners. The question isn’t whether bear markets will happen (they will), but how to handle them in a way that protects your long-term financial health.

In Episode 116 of Last Paycheck, CERTIFIED FINANCIAL PLANNER® professionals Rob and Archie Hoxton walk listeners through how to think about market drops differently depending on where you are in your life journey. Here’s what they had to say.

Bear Markets in Early Career: Buy the Dip, Don’t Fear It

When you’re in your 20s or 30s, volatility can actually work in your favor. You’re buying shares at a discount during bear markets, which boosts long-term returns. But many young investors fall into the trap of viewing portfolio balances like bank accounts—when values drop, they panic and stop contributing.

Don’t make that mistake.

The Hoxtons recommend staying the course (or even increasing your contributions if possible) during down markets. Think in terms of share count, not account balance. This mindset shift can turn market dips into long-term gains.

Mid-Career: Stay the Course, Even While Catching Up

If you’re in your 40s to early 60s and still accumulating wealth, bear markets can feel riskier—especially if you’re behind on retirement savings. But the key lesson remains: keep contributing. Don’t let temporary declines derail your long-term strategy.

It may also be time to start refining your asset mix—adjusting the stock/bond ratio and increasing your emergency fund to reduce your emotional reaction to market swings.

Early Retirement: Flexibility Is Power

In the decumulation phase (the early years of retirement), bear markets are trickier. You may need to sell shares for income—but if markets are down, that means selling more shares to get the same dollar amount.

To reduce this risk, Rob and Archie recommend:

  • Holding 6–12 months of expenses in a “secure bucket” (cash, CDs, etc.)
  • Reducing spending temporarily during a downturn
  • Keeping your lifestyle scalable so you can pause discretionary expenses if needed

This flexibility can make the difference between staying on track and running into trouble.

Late Retirement: Don’t Go 100% Conservative

While it’s common to shift toward more conservative investments with age, Archie warns against becoming too conservative late in life. You may still need growth to fund longevity, healthcare costs, or legacy goals.

The right ratio of stocks, bonds, and cash depends on your personal needs—but don’t assume 100% bonds is the right choice at 85. Growth still matters.

The Bottom Line: Have a Plan

Ultimately, your success in navigating bear markets depends on having a well-thought-out financial plan. With a strategy that considers your time horizon, income needs, and psychological tendencies, you can avoid costly mistakes and turn downturns into long-term opportunities.

Ready to stress-test your investment strategy before the next bear market?

Download the Investment Alignment Worksheet to evaluate your portfolio—and see if you’re truly prepared for what’s ahead. Or schedule a free consultation to talk to a fiduciary advisor who’s on your side.
Download The Worksheet
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Episode 114 – The 3 Estate Planning Documents Every Adult Needs

If you’re like most people, estate planning isn’t high on your list of exciting weekend activities. But as Rob and Jimmy make clear in Episode 114 of The Last Paycheck Podcast, having the right documents in place can make a huge difference for your loved ones—and your legacy.

Why Estate Planning Matters for Everyone (Not Just the Wealthy)

There’s a common myth that estate planning is only necessary if you have millions in assets. The truth? If you have a family, a bank account, or even just a strong opinion about your healthcare, you need an estate plan. Without it, your state government could end up making decisions you wouldn’t agree with—and your family could be left in a difficult position during an already stressful time.

The Three Critical Documents You Need

1. Last Will & Testament

This document directs who receives your possessions and appoints an executor to carry out your wishes. Rob emphasizes that a will is your final voice—it’s your opportunity to make sure your values are honored and your assets go where you want them to.

Jimmy points out a common misconception: that a will overrides beneficiary designations. It doesn’t. If your retirement account still lists your ex-spouse as the beneficiary, no will in the world can undo that mistake. That’s why it’s critical to regularly update both your will and your account designations.

2. Healthcare Directive (Living Will)

This document outlines your preferences for medical treatment if you’re incapacitated. Do you want to be kept alive on machines indefinitely? Or not? A healthcare directive allows you to clearly communicate your wishes—and it also appoints someone (your healthcare agent) to make those decisions if you can’t.

As Rob and Jimmy stress, this isn’t just a legal form—it’s a gift to your family. It removes the burden of guesswork and guilt from your loved ones in the middle of a crisis.

3. Durable Power of Attorney

If you become unable to manage your finances—due to illness, accident, or cognitive decline—this document gives someone you trust the legal authority to step in and manage your bills, taxes, and accounts.

Without a power of attorney, your family could be forced to go to court just to pay your mortgage or access your bank account. It’s simple to put this in place, and potentially devastating if you don’t.

How to Get These Documents

Rob and Jimmy encourage listeners not to overcomplicate the process. For simple needs, online tools and state-specific forms can work. For more complex situations—multiple properties, blended families, or business interests—working with an estate planning attorney is best.

And don’t forget: estate planning isn’t one and done. Update your documents as your life changes—marriages, children, divorces, or major asset changes should all trigger a review.

Your Next Step

Estate planning isn’t about fear—it’s about control and care. It’s about protecting your family, your values, and the wealth you’ve worked hard to build.

Ready to get started?

Download the Estate Planning Essentials Checklist. Use this simple tool to take inventory of your current documents, identify gaps, and move forward with confidence. Schedule a free consultation to review your plan with a trusted fiduciary advisor.
Download The Checklist
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Episode 113 – Politics and Your Portfolio: How to Invest Without Losing Your Head

It’s no secret: political seasons can trigger intense emotions. But should those emotions guide your investment decisions?

In Episode 113 of the Last Paycheck podcast, Rob and Archie Hoxton explore how politics—left, right, or center—can quietly sabotage even the most thoughtful investors. From fear-induced selloffs to overconfidence when a preferred party is in power, political cycles tend to amplify emotional investing.

And that’s a problem.

Why Political Emotions Don’t Belong in Your Portfolio

Many investors believe that the markets will perform better—or worse—based solely on which party holds power. But the truth is more complex. Historically, markets have performed well under both Republican and Democratic leadership. Why? Because markets respond to long-term economic and business trends—not daily political drama.

As Archie puts it: “The market doesn’t care who’s president—it cares about earnings, interest rates, and business conditions.”

That means your personal reaction to politics could cause you to time the market poorly. And that rarely ends well.

The Cost of Emotional Investing

In the episode, Rob shares a client story about someone so politically stressed they stopped checking their account. When they finally came in for a review—expecting losses—they were shocked to learn their portfolio had actually grown significantly.

This isn’t uncommon. Political turmoil may cause short-term volatility, but long-term market gains often resume once emotions cool. Unfortunately, investors who panic miss the rebound—and lock in losses.

What to Do Instead

A better approach? Create a disciplined plan that can weather political storms:

  • Diversify broadly: U.S. and international markets, various sectors, risk-balanced portfolios.
  • Rebalance regularly: Keep your strategy aligned even as markets shift.
  • Keep investing: Especially if you’re still working. Long-term growth requires long-term participation.
  • Stress test your plan: Make sure you’re still on track even if markets dip.

Most importantly: avoid investing based on the news cycle. Markets care more about stability and policy than politics. And they hate emotional investors.

The Real Secret: A Financial Plan

Markets will always swing. Political drama will always exist. But a thoughtful, stress-tested financial plan can give you the clarity to ignore the noise—and keep moving forward.

As Rob says, “Having a plan means you don’t have to wonder whether you’re okay when the market drops. You’ll already know.”

Worried politics might derail your financial strategy?

Download our free Emotion-Proofing Your Investment Strategy worksheet to audit your current habits—and start planning with confidence. Or schedule a call with our team at Hoxton Planning & Management.
Download The Worksheet
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Episode 112 – Should You Trust Financial Rules of Thumb? Here’s What to Know

When it comes to managing your money, simple advice is appealing. Save 10%. Pay off all your debt. Take Social Security at 70. But are these “rules of thumb” really helping—or could they be steering you off course?

In Episode 112 of Last Paycheck, Archie and Rob Hoxton dive into the most common financial shortcuts and challenge their usefulness in real-world scenarios.

The Truth Behind 6 Common Rules of Thumb

Let’s walk through the popular rules discussed—and why they may or may not work for your situation.

1. Save 10% of Your Income

This is often the first bit of advice people hear when starting a new job. And for someone just getting started, it’s not bad. But for someone playing catch-up or approaching retirement? 10% likely won’t cut it. You may need 15% or more, especially if you didn’t start saving in your 20s.

Bottom line: A good starting point, but not a long-term strategy.

2. You’ll Need 80% of Your Income in Retirement

Rob and Archie caution that this rule may be outdated. Many retirees end up needing closer to 100%—especially in the early, active years of retirement filled with travel and new experiences. Later, healthcare costs often rise, adding more pressure to retirement budgets.

Bottom line: Don’t underestimate your lifestyle or medical expenses.

3. The 4% Withdrawal Rule

The 4% rule assumes you can withdraw 4% of your portfolio annually (adjusted for inflation) for 30 years without running out of money. But markets fluctuate. Emergencies happen. Needs change.

Bottom line: It’s a guide—not a guarantee. Your plan should adapt to your life.

4. Be Debt-Free Before Retirement

This one feels good—but may not always be the smartest financial move. If you have a 2% mortgage and your investments earn more, paying off that mortgage early could cost you in long-term growth. The key is balance.

Bottom line: Don’t sacrifice future wealth for short-term comfort.

5. Keep 3–6 Months in an Emergency Fund

Archie and Rob agree this is situational. A business owner with unpredictable income may need more than six months saved. A risk-tolerant investor with ample liquidity elsewhere might be fine with less.

Bottom line: Customize your emergency fund to your lifestyle and risks.

6. Delay Social Security Until 70

While waiting can increase your monthly benefit, it’s not always the best move. Health concerns, family longevity, and income needs all play a role. For some, claiming early might be a better fit—even if it’s not “optimal” on paper.

Bottom line: When to claim Social Security should be a personal decision, not a rule.

The Takeaway: Rules Are Just a Starting Point

Financial rules of thumb exist for a reason—they offer simplicity and can be helpful in the absence of a plan. But life isn’t one-size-fits-all, and neither is your money.

If you’ve been relying on quick shortcuts or conventional wisdom, now is the time to upgrade from “general advice” to a personalized plan that reflects your unique life, goals, and risks.

Want to stress-test your assumptions?

Download our Are You Relying on the Right Rules? Self-Audit Tool or schedule a call with Hoxton Planning & Management to start building a custom strategy that actually works for you.
Download The Audit Tool
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Episode 111 – Tax Law Changes for 2025 – What Retirees and Charitable Givers Need to Know

If you’re nearing retirement, living on a fixed income, or focused on charitable giving, the 2025 tax law changes may affect you more than you realize. In Episode 111 of the Last Paycheck podcast, Archie Hoxton and advisor Emily Leslie explain what you need to know—and what to do now to prepare.

1. Overtime Deduction: A Win for Middle-Income Earners

If you’re working overtime to boost savings or pay off debt, there’s good news: from 2025 to 2028, up to $25,000 of overtime income will qualify for an above-the-line deduction. This benefit begins to phase out at $300,000 of household income (MFJ).

Action Step: If you expect to earn overtime in the coming years, adjust your tax planning to take advantage of this short-term window

2. The Senior Deduction: A Modest but Meaningful Break

While headlines claimed “No More Taxes on Social Security,” the reality is more nuanced. Instead of eliminating Social Security taxes, the new law introduces a $6,000 deduction for Americans age 65+ with income under $150,000 (MFJ). It’s available from 2025 to 2028 and doesn’t apply if you’ve already started benefits before age 65.

Who Benefits Most?

  • Retirees aged 65+ with modest income
  • Those delaying Social Security to full retirement age or beyond

3. Estate Tax Made (More) Predictable

For high-net-worth individuals and business owners, the estate tax threshold has been solidified. Now, individuals can pass on up to $15 million—and couples up to $30 million—without triggering estate tax liability. This change removes the previous uncertainty around sunset provisions.

If your estate is below that amount: No changes needed.
If it exceeds the threshold: Consider trusts, gifting strategies, or business succession plans.

4. SALT Deduction Expansion: Relief for High-Tax States

Taxpayers in states like New York, New Jersey, or California may benefit from the raised state and local tax (SALT) deduction cap—now $40,000 instead of $10,000. This provision begins phasing out at $500K income and reverts in 5 years.

Be cautious: Roth conversions or large IRA withdrawals could inadvertently push you over the $500K income limit, disqualifying you from the higher deduction.

5. Charitable Giving: More Options, More Rules

For donors, the new rules include:

  • Above-the-line deduction: Up to $2,000 for charitable gifts without itemizing
  • 0.5% AGI floor: You must give at least this amount before deductions kick in
  • $1,700 SGO credit: Donations to Scholarship Granting Organizations (SGOs) offer a dollar-for-dollar reduction in your tax bill

Pro Tip: Combining these strategies may reduce your taxable income while supporting causes you care about.

Final Thought

Tax laws are always changing—but the next few years offer unique planning opportunities. Whether you’re still working, recently retired, or managing a large estate, it’s important to understand how these changes affect your financial picture.

Want a quick way to review where you stand?

Download our free 2025 Tax Change Readiness Checklist to uncover what benefits you qualify for—and what steps you might want to take next. Schedule a free consultation to build a strategy that takes full advantage of the new law.
Download The Checklist
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Episode 110 – What the “One Big Beautiful Bill” Means for Your Taxes (2025–2028)

The recently passed legislation known as the “One Big Beautiful Bill” is about to reshape the personal finance landscape—and in Episode 110 of Last Paycheck, advisors Archie Hoxton and Emily Leslie walk you through what matters most for everyday families, retirees, and business owners.

Here’s what you need to know—and how to prepare.

Making the Tax Cuts and Jobs Act Permanent

The biggest headline is the permanent extension of the 2017 Tax Cuts and Jobs Act. That means the doubled standard deduction and reduced tax brackets are here to stay. For most households, this helps avoid a major tax increase that was originally expected if the law expired.

However, the flip side is the continued loss of many itemized deductions, especially those in the miscellaneous category. If you were expecting a return to the old deduction system, that’s no longer on the table.

Boosts to the Child Tax Credit

Families will see a modest but helpful increase in the Child Tax Credit—from $2,000 to $2,200 per child, with $1,700 of that amount refundable. Households earning up to $400,000 (married filing jointly) remain eligible, but you must owe federal taxes to receive the refundable portion.

Big Win for Service Workers: Tip Income Deduction

One of the most surprising—and generous—changes is a new above-the-line deduction for tip income. Starting in 2025, eligible workers can deduct up to $25,000 of tip-based income from their taxable income. This is especially helpful for servers, bartenders, delivery drivers, and others who now earn tips through credit card transactions.

The IRS and Treasury will release additional guidance about which professions qualify, but the basic test appears to be “customary and voluntary” tipping.

Auto Loan Interest Becomes Deductible (With Conditions)

For vehicles assembled in the U.S., borrowers can deduct up to $10,000 in interest on auto loans. This deduction applies from 2025 to 2028 and begins phasing out above $200,000 in household income. Buyers will need to verify final assembly location, but for many Americans, this change will offer substantial tax savings on a necessary expense.

A New Tax-Advantaged Account for Babies: The Trump Account

A new savings vehicle—informally dubbed the “Trump Account”—will give newborns a $1,000 federal contribution if they’re born between 2025 and 2028. Parents can contribute $5,000 annually, and employers can add $2,500 per year.

But there are caveats:

  • Only U.S. stocks are allowed as investments
  • Withdrawals for education, first-time home buying, or small business use are allowed after age 18—but earnings will be taxed
  • Early withdrawals come with penalties

This account blends elements of a Roth IRA and 529 plan but comes with unique restrictions that families must consider carefully.

Final Thoughts

While the “One Big Beautiful Bill” offers tax relief and new savings tools, it also brings complexity and confusion. Many of the provisions are time-limited (2025–2028), and several will require additional IRS clarification.

If you’re a tip-based worker, expecting a child, considering a new vehicle, or simply trying to make sense of these changes—now is the time to act.

Evaluate your own risk comfort and investment goals.

Download our 2025 Tax Change Readiness Checklist to audit your situation—and schedule a free consultation to build a strategy that takes full advantage of the new law.
Download The Checklist
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Episode 95: How to Stay Calm in Market Chaos – A Volatility Survival Plan

How should I react when the market drops?
Should I sell my investments now or wait it out?
Am I doing the right thing with my money during a downturn?

These are the exact questions we hear from investors whenever volatility spikes. And if you’re asking them too—you’re not alone.

In Episode 95 of the Last Paycheck podcast, CERTIFIED FINANCIAL PLANNER® professionals Rob and Archie Hoxton tackle the emotional, practical, and behavioral challenges that come with investing through uncertainty. Their message is simple: the market’s movement isn’t the problem—how we respond to it often is.

Why Market Volatility Feels So Personal

We all know the market goes up and down. But when your portfolio starts falling—especially as you approach or enter retirement—it’s not just numbers on a screen. It’s your future, your income, your peace of mind.

That’s why knee-jerk reactions like moving everything to cash or pausing retirement contributions feel tempting. It feels like “doing something.” Unfortunately, those short-term decisions can create long-term consequences.

What This Episode Covers

Rob and Archie outline a clear, level-headed framework for navigating a market pullback. Their volatility survival strategies include:

  • Avoiding panic selling: Selling when the market drops means locking in losses. Recovery often begins before you realize it—and missing those days can significantly lower your long-term returns.
  • Rebalancing with purpose: Market dips can throw your asset allocation out of balance. This is an opportunity to reset your portfolio—not abandon it.
  • Tax-loss harvesting: Down markets present rare opportunities to capture losses and reduce your tax bill—especially for taxable accounts.
  • Maintaining liquidity: Having a short-term cash reserve prevents you from withdrawing from investments during a downturn.
  • Understanding behavior: Investor psychology is often the biggest risk to your plan. Headlines and fear cycles can drive decisions that don’t align with your goals.

Ask Yourself:

  • What are my rules for handling market volatility?
  • Is my portfolio designed to support withdrawals even during downturns?
  • Am I responding to a long-term plan—or reacting to short-term headlines?

Why Staying Invested Matters

Rob and Archie cite studies that show just how damaging it can be to miss the best recovery days in the market. Most of those days happen close to the worst ones. That’s why discipline and planning—not timing—are the keys to success.

Market volatility is inevitable. Reacting emotionally isn’t.

Final Thought

If your portfolio feels like a source of stress instead of confidence, that’s a signal—not a failure. It means it’s time to review your strategy, understand your risk, and make sure your investments are aligned with your long-term goals.

You shouldn’t have to face market chaos alone. You need a plan that’s built to keep working—whether the market is up, down, or sideways.

Want to make sure your portfolio is prepared for whatever comes next?

Schedule a free, no-pressure consultation with our team at www.hoxtonpm.com/schedule. We’ll help you build a strategy rooted in clarity, not chaos.
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Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Episode 86: Barriers to Wealth – 6 Common Mistakes That Undermine Your Financial Future

You’re working hard, saving consistently, and trying to make smart choices. But if building wealth still feels like an uphill battle, it’s worth asking: What’s getting in your way?

In Episode 86 of the Last Paycheck podcast, CERTIFIED FINANCIAL PLANNER® Archie Hoxton and advisor Jimmy Sutch explore the hidden habits and overlooked decisions that quietly erode financial progress. These barriers don’t always make headlines—but they can have a massive impact on your long-term financial security.

If you want to accelerate your wealth-building path, the first step is identifying what’s holding you back.

1. Bad Debt Decisions

Not all debt is created equal. A low-interest mortgage can be a smart tool. But high-interest consumer debt—especially car loans and credit cards—can drain your savings potential.

Jimmy shares the example of a $740 monthly car payment. Over 15 to 20 years, that expense could translate to hundreds of thousands in lost retirement savings if invested instead.

2. Lifestyle Inflation

Earning more shouldn’t automatically mean spending more. But for many families, income increases are quickly matched—or exceeded—by lifestyle upgrades: a bigger house, fancier cars, private schools, or luxury vacations.

The result? No matter how much you earn, you feel like you’re just getting by.

Archie and Jimmy recommend being intentional about upgrades. Are they supporting your long-term goals—or just feeding short-term gratification?

3. Divorce

Divorce is both emotionally and financially disruptive. It often cuts retirement savings in half, reduces long-term security, and triggers expensive legal fees.

While it’s not always avoidable, couples nearing or in retirement should prioritize proactive planning, open communication, and clear documentation—especially when dealing with blended families or separate assets.

4. Emotional Investing

Fear and greed are the two biggest threats to long-term investment success. Panic selling during downturns or chasing “hot” stocks rarely ends well.

Archie emphasizes that staying invested is often more important than picking the perfect investment. A disciplined strategy—aligned with your goals and risk tolerance—is your best defense against emotional decision-making.

5. Hoarding Cash

Holding too much money in low-interest accounts might feel safe—but it’s a hidden risk. Inflation erodes purchasing power over time, and uninvested cash often misses the compounding opportunity of long-term markets.

Keep enough for emergencies and short-term needs, but make sure your savings are working for you—not just sitting idle.

6. Poor Tax Strategy

Taxes are your single largest lifetime expense—and most people pay more than they need to.

Jimmy and Archie point out that strategic tax planning—from Roth conversions and account withdrawals to donation timing and Social Security strategies—can save six figures over the course of retirement. But you have to plan ahead.

Ask Yourself:

  • Do I know my biggest financial blind spot?
  • Am I tracking lifestyle changes or just letting them happen?
  • Is my investment plan driven by goals—or by headlines?
  • Have I optimized my tax strategy over the next 10 to 20 years?

Final Thought

Wealth isn’t just about what you earn. It’s about how you manage, protect, and grow what you already have. Eliminating these common barriers won’t just increase your net worth—it will boost your confidence in the process.

Which of these barriers are affecting you?

Download our free Barriers to Wealth Self-Audit and start making smarter decisions today. Or schedule a consultation at www.hoxtonpm.com/schedule to talk through your personalized roadmap.
Download the Self-Audit
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.