The LEARNING library

Tune in to valuable financial insight on WTCM AM 580 at 10:10 a.m. every Thursday to listen and learn while Retirement Planning Expert, Dennis Prout, CFP, and co-host Shea Petaja discuss and answer your questions on the latest financial news, tips, and strategies.

If you miss the Thursday show, you can hear it rebroadcast every Saturday at 9:00 a.m. on AM 580.


Questions or comments?

Call (231) 947-7675 during the show to talk with Dennis and Shea on the air.


Play It’s Go Time! radio show
It’s Go Time! June 21, 2018

You’ve finally reached the destination … your retirement! And now it’s GO TIME! After years and years of making contributions to your company plan, it’s time to roll it over. But how? And where? And when? You’ve been working a long time, and now it’s time to make your money work for you. At Prout FinancialDesign, we think this is one of the most exciting times in planning. Why? Because you have options!
One of our favorite ways to help you put it all together is by completing a FinancialPlan using our financial planning software. We can combine your personal goals with the details required for long-term planning, which include Social Security, Investments, Health Care Costs, Lifestyle, Property, Giving and even more!
Join us today for a topic that affects a large percentage of our clients and listeners.

Play Halfway There radio show
Halfway There June 14, 2018

Can you believe that we are halfway through June? I feel like we just finished taxes and winter! And now it’s time to start your IRA planning for the rest of the year. There are nine things you can do to pivot your planning and move in a good direction just in time to open Christmas presents. HA! Too soon?

Play Beneficiary Mistakes radio show
Beneficiary Mistakes May 31, 2018

We’ve all heard the horror stories from our neighbors and friends about their inheritance … or lack thereof. Oh sure, it was “understood” that so-and-so would receive “X” amount, but when it came time, it went to someone else. There is a tremendous amount of grief upon grief when this happens, because it feels like betrayal when we don’t get what was promised. Most of the time, it isn’t on purpose; it was a mistake on the part of the benefactor. And, most of the time, we believe that this will never happen to us.
Join us today to make certain that you have dotted the I’s and crossed the T’s on your beneficiary forms. If you’re the one on the receiving end, you’ll want to approach this topic gently, and we will teach you how.

Play Company Retirement Plan No Nos radio show
Company Retirement Plan No Nos May 24, 2018

Some of the most expensive money you can spend is the money from your company 401(k) before it matures.
A 2015 research study conducted by Boston Research Technologies in collaboration with Retirement Clearinghouse found that 34 percent of Millennials, 34 percent of Gen Xers and 24 percent of Baby Boomers have cashed out at least one retirement account during their careers, and that “a majority of retirement plan cash-outs are unnecessary – a product of convenience rather than need.” (CNBC)
We understand that circumstances in life make it tempting to dip into your company plan, but there are many reasons why this is a bad idea. One must consider the tax penalties and loss of compound interest, among other things.
Tune in today! Dennis is back from his Ed Slott conference and is ready to share some interesting, and valuable, information.

Play Retiring in Michigan radio show
Retiring in Michigan May 10, 2018

It’s impossible to name just one thing that makes the Mitten State magical. It starts with the Great Lakes, followed by great communities, places to adventure, and family, to name a few. And whether you’re from the area or not, your loyalty to Michigan can run as deep as Lake Superior. It seems like everyone finds their way up north.
What about you? Do you plan on retiring here? If so, it’s important to know that the tax rules aren’t the same in every state. In recent years, Michigan has become less tax friendly to people in retirement, and according to the U.S. Census Bureau, in 2016, 23% of Michigan residents were age 60 or older. So join us as we look at the tax laws, Social Security benefits, IRAs, and 401(k) rules.
We are smitten with the mitten, and this Thursday you’ll find out why it’s still worth retiring here.