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According to a survey by GOBankingRates, 73% of adult children haven’t had the money talk with their aging parents. This isn’t completely surprising considering that the “Silent Generation” felt it was too risky to speak out. They grew up in financially insecure times with the collapse of the market and war. They were also considered the “The Lucky Few” because they entered the prosperous times of the 1950s and 1960s, which rebuilt the nation. They also retired relatively early taking both a pension(s) and Social Security.

Then came their children, the “Boomers” who coined the phrase “Midlife Crisis” and kept the prosperity going. When it comes time to pass the baton, will the Silent Generation be willing to share their financial story with their children who are entering their retirement years in droves?

We are going to share excerpts from the book, Mom and Dad, We Need to Talk: How to Have Essential Conversations with Your Parents About Their Finances, by Cameron Huddleston, and the article by Kiplinger, “10 Ways to Talk to Your Aging Parents About Their Finances.” You can plan in a panic or plan ahead – we opt for the latter choice.

This month marks 84 years since the Social Security Act was signed into law, but despite the program’s lengthy lifespan, many are still confused about how their benefits are calculated. It is crucial that you understand how much additional income your Social Security checks will provide once you start taking them because it can impact your tax bill. Depending on how many sources of income you have in retirement, your Social Security benefits could push you into a higher tax bracket. However, some proactive planning can help ensure that you can maximize your benefits while managing your tax liabilities.

To learn how your Social Security benefits are calculated, tune in! For professional assistance with creating a retirement plan that is designed to be tax-efficient and help maximize your Social Security contact our office at to schedule a time to visit.

Last week, I read a Shea Stat that, unfortunately, we’ve become so accustomed to that no one appears to be shocked. I’m referring to the mounting federal debt – which is currently more than $22 trillion. What should be considered a national emergency is being regarded as a mere speed bump. Currently, the cumulative amount saved in retirement accounts is $29.1 trillion, making it the most obvious “low-hanging fruit” (according to some economists) resource for national debt reduction/elimination. But what economic fallout will we Americans face as a result? Will those of us who have saved for decades to ensure our own retirement be punished? All in all, it’s difficult to stay positive about saving and being responsible when the government is struggling.

Tune in today for some financial tips that might help you keep your chin up even when it feels like we’re in over our heads.

Whether it’s by choice or decisions “beyond your control,” the time has come for you to leave your current employer. So what are your options regarding your employer-sponsored retirement/savings plan? Do you just leave it in the hands of your now “former” employer? Can you roll it over into a new plan? Or perhaps it makes sense to take a lump-sum distribution? What about a Roth IRA?

So many options! Tune in today, and we’ll discuss these scenarios and so many more. We’ll also discuss who can benefit from a Roth IRA and at what age. There are tricks to the trade, and we’re going to share as much as we can.

What goes up, must come down. And if it left, it will come back around! We’re referring to the market, of course. We are at the end of the first half of 2019 (already!), and it’s been a wild year so far. The markets continue to recover from the previous year’s losses, but the risk of a recession still remains. What exactly does that mean, and how does it affect you?

Great question! It’s one that we’ve already talked about this season, but it’s a conversation that’s worth revisiting. With the second half of the year ahead of us, it’s good to take inventory, especially with the rising tariff pressures, slow economic growth and talk of cutting interest rates (again). There’s never a dull moment.

Over the past 10 years, the U.S. population age 65 and over has increased 34% to more than 50 million people (Investment News). The Silver Tsunami is here, and you’ve got two options: Ride the wave or get up to higher ground. Today, we are getting the bird’s-eye view of 2020 and the six changes in Social Security that are coming.

If you’re retired or planning to retire soon, this is a show you won’t want to miss! And just in case you do, you can find the Investment News article here. We will be adding some additional information from IRA guru Ed Slott too!

Last year, Dennis and his wife, Jill, bought their first boat. It was a magical summer, with high heat starting in May and lasting through to September. Every free moment (including one staff party) was had on the water. This summer, however, seems to be holding on to spring one white knuckle at a time. We had a good run though, because the last cold summer I (Shea) remember was in 2009. If we were to take the temp on the current economic expansion, it too feels like it might be on its last legs (depending on who you talk to). From low interest rates, to price changes, Fed funds and bank profits, and yield inversions – the signs are all there. Or are they?

What are the opportunities for the current economy? If you plan on retiring in the next five years, how should you position your portfolio? Tune in for some great tips on how to evaluate the market for yourself and who to talk to in order to get your plan shipshape!

Maybe you didn’t notice it at first. After all, you live out of town and only visit your parents in the summer. But during your most recent visit, many things seemed amiss. Unpaid bills were piled up on the kitchen table. Items in the fridge were expired. In fact, your parents aren’t eating like they used to, if at all. And why, oh, why have they become so paranoid?

You make their doctor appointments and join them, but it’s time to find someone to help you long distance, because there’s only so much you can do. Who can act on their behalf? Pay the bills? Act as a trustee? Believe it or not, there is a local dynamic duo that can act as a conservator or guardian.

Today, we are interviewing Brenda Miller and Lisa Lundy from Fiduciary Services North, Inc. They’ve served the five-county area as senior advocates and personal representatives for more than 10 years, and have wisdom to share for those seeking an independent third party to manage financial, medical and legal logistics.

By a landslide, the 401(k) retirement savings account is the most common savings vehicle for most folks. It’s accessible at most companies and has tax advantages that will encourage you to save, including a Roth 401(k) option. The more progressive companies require people to “opt out” instead of “into” the 401(k) plan being offered. Pretty cool, eh? (said with a strong northern Michigan accent). So, how does one take advantage of this option to save? When can you take the money out? Should you roll it over when you retire? Why do some advisors dislike the 401(k) option?

We’re pretty sure this show will be one that you won’t want to miss! You’ve been saving, so learn how to be a bit more clever when you do.

Learn about the importance of having difficult conversations with your family members about estate planning and inheriting family assets.  As you consider retirement accounts, your home or other property and even charitable giving, whether you are the parent or the child, it is not always an easy topic to bring up.