New Retirement Radio with Dennis Prout Podcast

On today's show, we will be joined by Connie Hintsala, Founder and President of Alliance for Senior Housing, LLC. Connie has provided families in the greater Grand Traverse area with senior housing solutions for more than 20 years, and the love and passion for her work has only grown. Her intricate knowledge of State of Michigan standards/requirements, as well as her own experience as a direct car...

The New Year begins, and already there's so much to consider on the financial front! On this week's show we'll discuss whether or not you could be "too rich" for a Roth IRA. Congress has set income limits on Roth contributions, and for those married filing jointly, no contributions are allowed for those with taxable incomes over $246,000 (for single filers, the amount is $165,000). While the incom...

We are so looking forward to joining you via the airwaves in 2025! 2024 has been a year of challenges, surprises, market volatility, political unrest … and yet WE MADE IT. As we set foot into the future and ponder what this year could hold for the economy, Dennis and Nathan will discuss Capital Group's "2025 Outlook: Long-Term Perspective on Markets and Economies," which describes the current U.S....

On today's show, we'll discuss Ed Slott's thoughts on significant IRA rulings for 2024, as well as the "Five Keys to Investing in 2025," by Capital Group.   As you can guess, there are many discussions among market analysts regarding the opportunities and the risks we can expect in 2025. We (Dennis Prout, Heidi Cartwright and Beth Shier) intend to do some of the same, but with a twist. The differe...

Although it was good to be surrounded by family and friends on Thanksgiving, we missed you, our listeners.  To make up for our absence, we would like to dedicate a portion of today's radio show to answer your calls/texts regarding year-end concerns, including IRA contributions, Roth conversions and RMDs. Now is your time … so get those questions ready! Dennis will discuss an article by economist R...

Social Security! Just when you thought you could do without it, here comes the check in the mail! (Just kidding, of course.)   Last year at this time, we had Bob Simpson, Manager of our local Social Security office, on the show to speak about Social Security and the COLA (cost-of-living adjustment) that was announced. On today's show, Bob will talk about another recent COLA made for those taking b...

The financial world is complex, and it is not uncommon to feel "in over your head" when trying to tread through the vast, turbulent waters of IRS regulations, tax planning and financial portfolios.   So much to learn. So much to know. So many questions. Join us on today's show as Dennis highlights some of the top financial questions from financial professionals from around the country. We'll test...

On today's show, we're excited to delve into the meat and potatoes of finance with you and tackle questions like, "What are the chances of a soft landing in this economy?"  And, "What about those final RMD regulations being issued we've heard so much about?"   (Well … maybe not so much on the RMDs.) Still, we intend to explore the recent tax law changes and provide you the stats we think could be...

On today's show, we commemorate the events of September 11, 2001, and honor all the heroes, armed forces, first responders, and countless others' acts of service to defend our nation's freedom.  We are excited to invite you to hear a phenomenal live presentation by Heather Cartwright, retired Director for the Federal Crimes Victims Division, who served in the U.S. Department of Justice, Washington...

According to the Centers for Medicare and Medicaid services, as of April 2024, approximately 67 million people are enrolled in Medicare, an increase of  2 million people since 2023.  Deciding on healthcare is a significant part in planning for your retirement. There are many factors to consider when educating oneself in the complex field of Medicare. Fortunately, there are professionals who specia...

Today, help us welcome Ed Slott as we discuss his unique perspective on the retirement landscape only a CPA with his depth of experience and education can bring.  The Wall Street Journa l refers to Ed as "The best source of IRA advice." That's one of many reasons we're having Ed join us as we do periodically. As members of Ed Slott's Elite IRA Advisor Group, which includes about 500 advisors aroun...

There's a lot going on for today's show!  First, we'll look at the potential changes to our estate and individual tax rates and discuss how that could impact us all with the sunset of the current tax law at the end of 2025. So many of us have already adjusted our estate plans and are planning for increased taxes on a variety of fronts. What else can we do and how should we approach it? Second, we'...

Did the Fed cut interest rates too much? What kind of impact might we anticipate?  Sometimes to look forward it behooves us to look back. Today, we will discuss an article, from the Wall Street Journal, that takes us back to the 1980s. What can history teach us? Viewing previous market reactions and economic reactions to a decline in interest rates, might give us a glimpse into the future and how...

Trying to think more deeply about your financial future with so many economic uncertainties feels more like a non sequitur rather than a financial plan.   "Where's the stock market headed?" "What will tax rates be?" "Is our currency stable enough?"  These are probably the most common themes that you are trying not to overthink. However, the one thing that we can be certain of is change. Stocks wil...

Roth! Roth! Roth! Can you hear the steady chant from the financial advisors and tax experts around the world?  Ed Slott, a Roth enthusiast, believes we have entered a rothification era. On today's show, we're about to blow your mind by playing the devil's advocate. Dare we question the Roth? Is there ever a time when a Roth or Roth conversion may not be the best financial move? Yes. Jon Sluis, CPA...

"I'm retired, now what?"  How does one find that balance between excessive and overly conservative withdrawals? Every retiree's situation is different. On today's show, Dennis will uncover some key strategies to help guide you into discovering a withdrawal balance that's right for you. He'll also take a closer look at the article, "3 key considerations for sustainable retirement income" by Capital...

Retirement planning is not only about saving for your future, but also about leaving a legacy, like an inheritance for your loved ones. But what if there were another way, a tax-saving strategy, other than leaving an inheritance after one's passing?  Dennis is back and ready to discuss Ed Slott's gifting strategies to help identify those who might want to take advantage of these benefits. Whether...

On today's show, get ready for a listening adventure as we discuss ... the economy!  Specifically, we'll talk about navigating the current economy in a world of uncertainty, as well as charitable giving through the lens of the IRA Qualified Charitable Distribution. So, strap on your helmets as we attempt to determine what's happening and whether we are heading into a recession. (There, I said it.)...

When discussing the state of the current American economy, we find ourselves at a place in time when negativity and uncertainty seem to take center stage. However, what if there were a glimmer of economic hope within these dark and uncertain times?  On today's show, we hope to illuminate a positive perspective as the United States takes center stage in global performance. According to a recent art...

What? It's mid-year already?  Just yesterday, as my wife Jill and I walked around Boardman Lake, a gentleman reminded us that the days are getting shorter. (His wife, however, was not happy with that!) Being that we're halfway through the year, we think it's a great time to cover your frequently asked questions about Social Security, especially concerning future benefit cuts occurring after 2034....

Do you know your RMD age?  Now that taxes are simplified, there are four RMD ages and no longer just one. On today's show, we'll discuss numerous topics regarding RMDs, including: The various ages and what that means; the three steps to fixing a missed RMD; death and its impact on the RMD; work plan exceptions; and something called "RMD aggregation." In the end, what may seem simple from afar can...

Can anything in the tax law sunset? Yes it can! The Tax Cuts and Jobs Act of 2017, which included several major changes and provisions in the tax code, will see a majority of those changes sunset after 2025.  For some, this will mean a tax increase. For others (depending on what, if anything, Congress might do), this may not mean much of anything. Unless the package from 2017 is extended, several...

Having just returned from our jaunt to Indianapolis to imbibe our insatiable need for new tax information, we are loaded for bear (if you will) with the most recent tax information related to IRAs, beneficiaries and the travails the mix of the two can cause.   We will share this information to help you to navigate and deal with the ever-changing world of your retirement accounts as well as discuss...

On today's show, elder law attorney Deborah Rysso, of the Rysso Law firm in Traverse City, will discuss navigating all things related to aging, care and estate planning from a legal perspective.  Deb has extensive experience with the application of legal documents and how they interact with life's realities. It's amazing how interactive the documents of law intersect with the workings of care, fam...

On today's show, Dennis will detail the characteristics of Defined Benefit Plans and Defined Contribution Plans –  including their advantages and disadvantages. So if you have questions about your plans, or want to better understand, this show is for you! Because every investor's needs are different, when planning for retirement, it is essential to map out a withdrawal strategy. Heidi will discuss...