Closed-End Fund
A type of investment company that does not continuously offer its shares for sale but instead sells a fixed number […]
A type of investment company that does not continuously offer its shares for sale but instead sells a fixed number […]
Transaction fee paid to a broker for executing a securities trade. Commission amounts vary and are often dependent on the
Indexes that measure either the price or performance of physical commodities, or the price of commodities as represented by the
Securities representing ownership in a corporation, which provide voting rights and entitle the holder to a share of the company’s
On most insurance applications, owners have the option to name a primary beneficiary and a contingent, or secondary, beneficiary. At
A type of back-end load, the amount of which depends on the length of time the investor holds his or
A feature some funds offer that allows investors to automatically switch from one fund class to another, typically one with
A corporate bond that can be exchanged for a specific number of shares of the company’s stock, usually common stock.
A feature of a bond that denotes the amount of interest due and the date that the payment will be

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
(p) 231.947.3992 (f) 231.947.3995 (tollfree) 800.968.2588
Advisory Services offered through Capital Asset Advisory Services, LLC, a Registered Investment Advisor.