https://proutfinancialdesign.com/wp-content/uploads/2023/04/Prout-100622_Release.mp3Podcast: Download“Forecasts create the mirage that the future is knowable.” Given our bent to discuss the markets and economy, there
https://proutfinancialdesign.com/wp-content/uploads/2023/04/Prout-092922_Release.mp3Podcast: DownloadA couple weeks ago, I (Dennis) dedicated a significant amount of time to finishing my continuing education requirements in
https://proutfinancialdesign.com/wp-content/uploads/2023/05/Prout-092222_Release.mp3Podcast: DownloadWhile life insurance is certainly not a sexy or thrilling, edge-of-your-seat subject, it can serve as a very practical
https://proutfinancialdesign.com/wp-content/uploads/2023/05/Prout-091522_release.mp3Podcast: DownloadWhile the markets have been quite volatile recently, for today’s show, we thought it might be helpful to see
https://proutfinancialdesign.com/wp-content/uploads/2023/05/Prout-090822_48k.mp3Podcast: DownloadWhile we won’t speculate on whether the U.S. economy is actually in a recession, we think it’s important to
https://proutfinancialdesign.com/wp-content/uploads/2023/05/Prout-090122_Release.mp3Podcast: DownloadMarket gyrations are always unnerving, and today’s markets are no exception. Today, we’re going to discuss Fed Chairman Jay
https://proutfinancialdesign.com/wp-content/uploads/2023/05/Prout-082522_Release.mp3Podcast: DownloadWelcome to our ever-changing, ever-evolving financial universe. A famous radio host used to describe things as being, “… on
https://proutfinancialdesign.com/wp-content/uploads/2023/05/Prout-081822_Release.mp3Podcast: DownloadToday is about changes! Wow, what a difference a week makes … or has it only been a day?
The “Inflation Reduction Act” just passed in the Senate, which was approved on a tiebreaker by Vice President Harris. At the end of this week, it will come up for vote by the House of Representatives, which is expected to (you guessed it) PASS! We will discuss in detail what’s in this new bill, and what this sweeping new legislation will mean for you personally, financially and from a tax perspective.
You may have decided to overcome inflation by purchasing a lottery ticket for the $1 billion+ prize that an Illinois resident recently won. What would the tax be, and how could you plan for such a windfall? We will discuss in detail practical options you may decide to take, as well as how to deal with your own lump sum presented within your retirement accounts or employer.
Welp, Heidi is back from a great trip to Nashville for the Ed Slott conference with updates galore! Today, Dennis and she will refresh your memory regarding: IRA beneficiary form mistakes to avoid; estate as retirement plan beneficiary; choosing a charity as a beneficiary; and spouse and non-spouse beneficiaries. Next up, they will discuss health care taxes and the impact on IRAs, the 10-Point IRA Trust Checklist, and the new DOL rule your advisor should be following.
It’s going to be an action-packed show with more information than time to cover it.
Tune in and take control!
Dennis J. Prout, CFP®
They told you that time would go fast and that it would gain speed with age. Here you are, so many years later realizing that this is true.
St. Augustine said, "The future is the logical conclusion of decisions made in the present day." He couldn't have been more right. In hindsight, you would have saved a little more, worried a little less and taken more time planning for this moment - your retirement —or, as they say, your "golden years."
There are two things weighing heavily on your mind:
The first: Did you save enough during your working years? Not just save, but did you plan appropriately?
The second: Will you have enough to live on for the next 20 to 30 years? Can you maintain your financial independence?
Speaking of independence…. you start to think of your children. They are grown and have their own families and responsibilities. You love them but you don't want to be dependent on them. You'd like to leave assets to them if you can, but you'd rather see those go to your grandchildren. Will they appreciate it?
Your mind wanders to the million little decisions made along the way. There are so many details to consider when you assess a lifetime of discipline and hard work. Oddly enough, you realize that retirement planning is the only plan where you start from an unknown end date and work backward - to now. Future you, I suggest you use hindsight as foresight. Remove the mystery and replace it with a plan. After all, who wants to spend their retirement catching up? Unless, of course, it's with old friends, family and those little ones who have your heart.
Sincerely,
1040 E. Front Street & Traverse City, MI 49686 www.proutfinancialdesign.com
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Advisory Services offered through Capital Asset Advisory Services, LLC, a Registered Investment Advisor.
