New Retirement Radio with Dennis Prout Podcast

Today's show title refers to the old axiom that no matter how well things are planned, unexpected problems may arise.  As we age, we may need some help with the details related to our financial lives that only very few can handle. Today's guests are representatives from Fiduciary Services North. They will discuss the services they provide and understand when they may be needed. Things may not alwa...

This recent market analysis by Capital Group got our attention: Over the last couple of years, the gap in both returns and valuations between small cap and large cap stocks has expanded against the backdrop of tighter monetary policy. To further summarize, a well-known index is trading near a 20-year low on a relative basis versus large caps. Limiting your exposure to these assets will limit your...

Amidst all the blather about an election (you remember, right?), where are the opportunities?  Today, we'll discuss the realities markets have historically experienced during an election year,  how investors have responded, and the mistakes investors made. Long-time money manager, The Capital Group, will provide us stats going all the way back to 1933. We'll also discuss recent moves in the gold m...

On today's show, we'll hear about the changes that the Marsh brothers at Bill Marsh Automotive Group are experiencing as they sell their long-held business to Serra Motors.  About three years ago, in 2021, the Marsh brothers came on the New Retirement Radio Show to share their experience and knowledge gained over the years with their joint management of the business. They return today to discuss t...

Around the turn of the previous century, Alan Greenspan made the following famous and prescient comment regarding the dot-com bubble: "A decline in perceived risk is often self-reinforcing in that it encourages presumptions of prolonged stability and thus a willingness to reach for risk over an ever-more extended time period. History cautions that extended periods of low concern about risk have in...

Market volatility can easily occur in an election year, which could affect your personal investments.  On today's show, we will review the  Guide to investing in an election year , published by Capitol Group, in order help us all gain a better perspective. We'll then discuss investors' biggest questions like, "How can we invest with confidence in an election year?" "Which political party is better...

Many of us are familiar with that famous line from Mark Twain's 1892 novel.  In our attempts to deign what's going on in this economy, there is always enough warning for any of us and … of course … plenty of opportunity. Given the current trends we're seeing in the stock market, especially with some indexes reaching all-time highs, we're looking forward to see what the future might hold. It is tru...

For the Sherlock Holmes aficionados in our audience, Sherlock would say, "Watson, the game is afoot!"  This would often take them to new adventures of investigation. Today's new adventure is planning for ever larger IRA balances and the impact this can have on you and your loved ones, given the stock market run we're having, and key new IRA rulings for 2024. The IRS has already answered several qu...

John Wayne once said, "Life is hard if you're stupid." For investors, this means being wary of a whole lot of the information disseminated by the popular media of today.  Today, we'll be working with solid data to keep our focus on the information we know is certain. In that light, we'll cover the economic news of the day from our primary research sources, which include Capital Group's 2024 editio...

Welcome to 2024! We are excited for the New Year! Some say that the more things change, the more they remain the same.  Well, a lot of things are changing in Traverse City and elsewhere on the ownership front as the Baby Boomer generation continues their respective exit(s) and begins to head for the door. As so many businesses are changing hands, we figured this would be an opportune time to ask J...

Today on New Retirement Radio, CPA Jon Sluis joins us as we discuss year-end tax planning, IRAs, and the case coming before the Supreme Court   next   June, deciding whether or not Congress can tax unrealized gains.  Taxing unrealized gains may sound like something you'd see in Russia or hear about in fifth grade as a lofty aphorism. Apparently, however, the Supreme Court feels the need to weigh i...

On this week's show, we will honor the legacy of Charlie Munger, Vice President of Berkshire Hathaway, who passed away on November 28 . His road to success was one where he started from nothing and achieved what very few others have by sheer hard work, associating with the best people he could, sprinkled in with significant talent honed over the years with significant research and experience. His...

A recent headline on a story of James Caan's estate read, "Estate of James Caan Whacked in Tax Case."  As you might guess, there is a lot to learn from others' misfortunes. In this case, some unfortunate planning and advice put James Caan and his estate on the wrong side of the IRS. In the end, his estate owed almost $1 million in taxes and penalties. On this week's show, we'll discuss estate plan...

Giving can be a good thing,  so on today's show we'll discuss how you might do that and where might be the best place to utilize those funds. We'll also continue by reviewing some deep and complex questions financial advisors asked Ed Slott at a recent conference in September. These questions will help with the everyday issues advisors are facing with their clients. Also, during our class last wee...

As we near the end of 2023, which is only about seven weeks out (can you believe it!?),  it's time to focus on end-of-the-year financial planning strategies as well as what's in store for 2024.   On this week's show, we'll discuss Ed Slott's most recent newsletter, and questions to Ed from financial advisors at his most recent Successful IRA workshop. This will help us be aware of planning options...

Look out! Here comes the economy!  So much to talk about and so little time should be the theme for this week's show as we dive into what the major money management and economic firms are saying. You may ask,  "What does this mean for me?"  We'll talk about how the markets are doing; how you can play offense in a very defense-oriented environment; and how you might further your own situation to ac...

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 be...

November is just a few weeks away, which means the December 31, 2023, deadline for retirement planning is quickly approaching.   Now is the time  to wrap up the year with RMD, QCD and Roth conversion planning and focus on retirement planning for 2024. On today's show, Heidi will discuss the key features to the SECURE 2.0 Act provisions that will become effective January 1, 2024. It's important for...

According to the Center for Medicare Advocacy, as of March 2023, nearly 65 million people are enrolled in Medicare, an increase of almost 100,000 since September 2022.  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 specialize in this a...

Today's show will feature a special guest, Jennifer Ewing,  who has lived in Traverse City for more than 25 years and has worked in the Human Resources field for more than 32 years.   Unfortunately, Jennifer lost both of her parents, but she has gained much firsthand knowledge as the executor of her parents' estate. Deann and Nathan will discuss Jennifer's experience, covering all the helpful tips...

We all remember the famous Wendy's ad a couple of decades ago in which an older woman asked where the beef was in her burger.  On today's show, we'll try to answer that question in terms of investment and/or allocation opportunities for you. Sometimes opportunity doesn't knock … you must open the door! Capital Group, which oversees American Funds Group, recently published an update whose title is...

When taxes decline, many questions typically arise.  In the case of the State of Michigan rolling back the retirement tax, copious amounts of questions and confusion seemed to reign. Today on New Retirement Radio, we will discuss the graduated change in the tax. For all Michigan taxpayers, the income tax rate dropped to 4.05% in 2023, down from 4.25% in 2022. Pension income for public servants lik...

The new economy continues to show itself to us.  While (of course) we cannot guess the future, the present certainly cannot be discounted as to what it provides in terms of usable information. What indicators can tell us how the economy is doing? Are those who are most pessimistic wrong? Do we maintain or change our holdings given the reality of rising short-term interest rates and what seems like...

The September 2023 edition of Ed Slott's newsletter comes with stories and insights about elder abuse , where scammers within families steal retirement account funds, resulting in significant losses as well as tax penalties. This is another example of why accountability needs to prevail within families, especially when larger retirement account balances are involved. Of course, on top of the losse...

Too much cash! Who would have ever thought this would be a problem?  Given how rates for conservative fixed income investments – including CDs, Treasury Bills and all the rest – have risen so dramatically, the pressure to get out of low-yielding money market and savings accounts has risen significantly. Investors who rushed for the exits last year and plowed trillions into money market funds, now...