To lose fat effectively, you’ll need to focus on both diet/nutrition and strength training to promote muscle growth. You should maintain a calorie deficit to shed weight, but also aim to build muscle to ensure your body burns fat primarily. This means eating plenty of protein while lifting weights. It’s best to lift heavy—aim for 8-10 reps per set, and by the end of your sets, you should have only a couple of reps left in you.
My doctor recommends a macronutrient split of 40% protein, 40% fat, and 20% carbs as a general guideline. Peloton rides can be beneficial for cardio and HIIT, which helps with cardiovascular health and maintaining a calorie deficit, but focusing on proper nutrition and lifting weights is crucial for preserving muscle mass and encouraging fat loss.
I still enjoy my Peloton rides and try to fit in a few short sessions each week after lifting at the gym. (By the way, I’m a bit envious of your home gym setup—I have limited equipment at home!)