Radio Shows

As the economy rebounds, the question remains, “What about inflation?” According to Joel Naroff, Chief Economist at Naroff Economics, LLC, “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.” This transition is projected to last longer than expected with hiring challenges, supply-chain bottlenecks, and other disruptions caused by the pandemic. In fact, we could see about 2% in the coming months as the CPI (consumer price index) jumped 5% in May.

What do we do if inflation continues to go up and up?

That’s the question for Dennis Prout and Heidi Thompson today. Join us LIVE as we navigate the ever-changing economy – the first step in any recovery!

What makes someone more comfortable in retirement? Studies show four things: guaranteed income, little debt, a clear spend-down strategy and employer-provided assistance. All of this takes a little planning over time with trusted advisors. Lucky you, because we have two in the NEW studio today! Dennis and Heidi will guide you through the planning process and how to face money mindsets that could be holding you back. Dennis will speak specifically on IRA planning for special needs beneficiaries.

Teamwork makes the dream work, and we are here for it!

Perhaps we’ve been overemphasizing COVID-19 stats, but it’s difficult to look at the numbers without becoming concerned. So much has shifted over the last year and a half, and most of it is out of our control. Our intention is to hold out hope for you. We want you to feel empowered and adapt as needed.

That being said, today we are going to focus on the positive side of the pandemic. The downtime allowed for a lot of reflection and bought some folks time to make necessary changes. We are going to share what those are and give you a few tips for transition. As we all know, the only constant is change!

“It’s not the economy that’s going to determine your next six years, it’s your philosophy” said the late Jim Rohn, entrepreneur author and speaker. His words outlive him and are just as relevant today as they were decades ago. When it comes to investing – the act of putting our dollars where our values lie, is about philosophy. Before you can be disciplined about the small things, you must first determine what you believe to be true and in the power of your own action-making abilities.

Join Dennis today as he applies these principles to the relationship we have with money and the magic of compound interest! After all, life only asks one thing of us … to make measurable progress in a reasonable amount of time!

During the last year and a half, many charities that have relied on fundraising events and in-person relationship building have suffered. The financial insecurity many individuals faced also caused them to withdraw their monthly donations. Meanwhile, according to an article in The Wall Street Journal, “The coronavirus has spurred roughly $13 billion in donations to relief funds and for medical and vaccine research – more than all donations to 12 other big disasters combined, including the 9/11 attacks, the 2008 financial crisis, and hurricanes Harvey and Sandy, according to an analysis by Candid, which tracks and analyzes global philanthropy.”

If you want to make charity a part of your financial plan, don’t wait until the holidays, start the process now. There are ways to leverage your portfolio to help the organizations you care about while also benefiting your tax strategies.

I’m not sure about you, but it seems nothing short of surreal to be shopping in stores without a mask and shield. Eating out at a restaurant is thrilling. Gathering with family, giving hugs freely and meeting strangers is almost euphoric. While the pandemic is mostly in the rear window, the effects of it are not.

Today, Shea and Heidi will be taking over the show one Shea Stat at a time to highlight the good, the bad and neutral numbers of COVID-19, which is quite fitting considering that women have been impacted by the pandemic more than men. According to McKinsey, 80% of the Americans who have stepped away from the workforce to take on the duties of childcare, education, shopping, cooking and cleaning during the nationwide shutdown were women.

Over the last several weeks, we’ve discussed the blind spots that investors can develop. The psychology of investing refers to these blind spots as “cognitive bias,” where our brains are hard-wired to take shortcuts, oversimplify complex concepts or be overconfident in our decision-making processes. The Magellan Group has outlined 10 of those biases, and on our show today we will give examples as we’ve experienced them either with clients or on a global scale.

While it’s important to have help with the numbers, it’s also very important to get perspective on the head game behind them. In fact, that’s why people tend to hire advisors … hint … hint!

Join us today as we dive deeper into the topic along with a brush-up lesson on income strategies in retirement. That in and of itself is a trip!

I (Dennis) was talking to my daughter about her investing options as she and her husband are gaining traction in their careers and financial choices. It’s a very exciting thing to witness, especially as a father who happens to be an investment advisor too! Ironically, as she started to verbally process their options, she also confessed to not knowing as much as she “should.” It triggered a conversation that led me to the topic of today’s show, because even something as simple as a 401(k) plan can feel foreign.

Today, Shea will be asking the tough questions like, “Is a 401(k) worth it? What about the fees? What if I need the money for emergencies? What about taxes in retirement? Does the employer really ‘match’ my money?”

This will be a lively conversation to help clear up any confusion about 401(k)s so that you can make an informed decision! After all, this investing stuff is supposed to be FUN!

Last week, we started the conversation around investor “blind spots,” or careless mistakes. One can argue that the premise of our entire show is about blind spots! Touché! This week, we will continue the discussion and delve more deeply into one area in particular: Changes in the market as you near retirement. The question is, “Can you handle it?” Or, better yet, “How should you handle it?”

The prevailing concern over a potential market correction and rising inflation lingers in investors’ minds. It’s understandable and probably unavoidable … but the good news is that it’s manageable!

Tune in and take control!

I (Shea) love to drive. It started with video games then led to learning on two-tracks until I took my drivers’ training courses. My instructor thought I was overly confident behind the wheel, but it quickly became my “thing” and, to this day, I am known as “The Driver” among family and friends. Over the years, however, as I have become more comfortable with driving, I’ve also realized that it’s easier to make careless mistakes. I refer to them as “blind spots.”

The same goes with investing. The longer you’ve been at it, and the more familiar you are with it – the more blind spots you develop. Our internal benchmark for success isn’t always the best predictor and, as a result, our long-term gains may diminish. In other words, we may not get to where we intended to go without a different or extra perspective. Today, Dennis and Heidi are hopping into the driver’s seat to show you a few things you might have missed on your investment journey.