Radio Shows

It’s hard to believe it’s already October! This time of year is not only breathtakingly beautiful up here in northern Michigan, it’s also a good time to slow down and review important financial details. On a national level, considering that both the Democrats and Republicans have spent a lot of money to stimulate the economy, it’s important to understand why the U.S. deficit matters as well as how this spending will eventually affect you.

We’ll also discuss the multiple investment deadlines you need to be aware of, cover the Coronavirus-related distributions from the federal government, and review how the CARES Act has affected your investing strategies (like waiving required minimum distributions deadlines).

Bob Simpson, District Manager of the Traverse City Social Security Administrative office, wants to be clear: “There are NO secrets when it comes to Social Security despite what the headlines say.” After 35 years on the job, one would think he’d would know a thing or two about that. On today’s show, Bob will join Heidi and Shea to talk about how to schedule an appointment with one his office’s 17 representatives who are working remotely. He will also give you the ins and outs of some more complex issues related to collecting Social Security and how to avoid scams.

Remember, the Social Security office is there to provide you with options, not give you advice. After you’ve collected the facts, consider meeting with your financial advisor and CPA to decide on your income strategies in retirement.

Doug Godbe worked for himself as an estate planning attorney in California. He began the retirement planning process at the age of 30, always running the numbers and calculating the outcome. It wasn’t until his late 50’s that the deadline became more important. He witnessed his friend (another attorney) decide mid-litigation to put in his two weeks’ notice because he wanted to collect his pension. But for Doug it wasn’t an easy task … he had a business to transfer to his son as well as his wife’s retirement to consider.

I sat down with Doug and he shared his retirement success, fails and surprises. We talked about everything from careers, empty nesting, marriage, health, remodeling houses and taking on professional projects after the fact. Lastly, over the years as he observed and handled the estate plans of his clients, he saw firsthand what made them successful in retirement.

I recently interviewed Doug Godbe for an upcoming show that will air on September 24. Doug is a retired estate planning attorney who started to plan for his own retirement when he was 30. Between spreadsheets and careful calculations, he is still surprised by a few things in retirement and would even admit that he is “failing” in several areas. If the extreme planners are reexamining their plans, what about the rest of us? According to a 2015 study, only one-third of retirees retired when they had intended. This means that 60% of retirees age 55 to 65 left their careers unexpectedly. That’s a lot.
Are you on track? How do you know?
Tune in today as Dennis and Heidi share some of the benchmarks for a healthy review of your plan.

Guess what? The market is not the economy. Maybe you’ve read this before as investors are trying to help us make sense of the contrast we’re seeing. So many people have lost their jobs, another shutdown is being threatened and, meanwhile, the stock market has completely rallied since March. Visually, it’s like seeing a dilapidated house with a newly remodeled front porch. It just doesn’t make sense.

Join us today as we discuss why it is important to pay attention to both the market and the economy while keeping our balance down the middle. To put it simply, the economy is what happened yesterday, and the stock market is what is in the future. What are we supposed to do with that?

Now that the dust has (mostly) settled from the almost weekly legislative changes these past few months, today’s guest, CPA Jon Sluis, says, “It’s time to start paying attention and start dealing with the change that happened.” He’s referring to the disconnect between what many are hearing in the media and what they are seeing in their own financial positions.

As a result of the flood of stimulus money injected into the economy, limited businesses went down; the same for individuals. In fact, many businesses and individuals pivoted as a result of all the changes thrown at them. Whether from increased support from clients, creative marketing or quick cost-cutting initiatives, many businesses and individuals are feeling more cash flush than before. While some saw declines in top-line revenue or investment returns, many are actually seeing an increase in bottom-line taxable income – which means there may be a tax liability coming. And when you are cash flush, it’s usually a good indication that you may need to start tax planning now and shift to those discussions.

This show will discuss the repercussions of what happened and how to deal with it now. Tune in and take control! There’s never enough time when we have Jon on the air.

The saying goes, “You have a trust when you don’t trust.” By creating a trust, you are attempting to control assets after your passing to provide legal protection. In some cases, it can protect the assets as they are inherited or to save estate taxes. However …

There have been a lot of changes with the SECURE Act of 2019. Trusts went from being one of the best places to leave your IRA to one of the most questionable. For those with disabled or chronically ill family members, trusts are invaluable. Generally speaking, however, they are not a cure-all when it comes to estate planning … especially with IRAs.

Tune in and find out more about one of the most popular estate planning tools. Ed Slott is direct with this piece of advice, “Stop naming a trust as an IRA beneficiary!”