New Retirement Radio With Dennis Prout Podcast

Synopsis

The days of simple retirement planning are gone and those who can manage their own portfolio are choosing not to. Prout Financial Design began over 25 years ago as an education based financial planning practice. Dennis Prout, Certified Financial Planner, believes that each client should not only understand their finances, they should be actively involved in the decisions made. Join the conversation! Dennis' radio show can be heard LIVE every Thursday at 10 am on News Talk 580 am or you can listen here instead. Thanks for tuning in! Advisory Services offered through Capital Asset Advisory Services, a Limited Liability Company, and a Registered Investment Advisor. Prout Financial Design does not provide tax, accounting, or legal services. Please consult the appropriate professional regarding your individual circumstance. Not associated with or endorsed by the Social Security Administration or any other government agency.

Episodes

  • Episode 172: Where Are You Now

    Episode 172: Where Are You Now

    29/04/2020 Duration: 35min

    Times of crisis are extremely stressful. They can either shut us down or spring us into action. If you’re struggling with springing into action, we have a show full of action steps. We hope that it gets you fired up about your financial health even as our reality changes weekly. Here’s your financial inventory checklist: o   Compare your portfolio to the stock market. Did you do the same, better or worse? Now would be a good time to evaluate your risk tolerance for the future o   Have you reevaluated your will or trust with an attorney? o   Double check your beneficiaries on all your financial/investment accounts o   Reassess your emergency funds. If you need more than what you’ve saved, what other accounts can you draw from? o   Consider pushing back your retirement date – those who pivot plans easily tend to do better in the long run

  • Episode 171: CARES Act Follow up

    Episode 171: CARES Act Follow up

    28/04/2020 Duration: 31min

    In this episode Dennis Prout and Heidi Thompson follow up on the CARES Act updates with CPA Jon Sluis.

  • Episode 170: Dont Panic Take Control

    Episode 170: Don't Panic Take Control

    16/04/2020 Duration: 39min

    Earlier this week, our team spoke extensively with Jon Sluis, a local CPA who will join us via phone during today’s program. We took three pages of notes, not including the term sheets from which he relayed information. Over the weekend, Jon read the Coronavirus Aid, Relief, and Economic Security (CARES) Act twice (it’s more than 800 pages long ) as well as U.S. Senate Committee Reports, Small Business Administration and Department of Labor summaries, and other summaries. Listen … it’s overwhelming out there, but there is GOOD news … and we are on it. Over the last year, we’ve mentioned many times that the markets were overvalued, and a correction was inevitable. And no one – absolutely no one – could have seen it coming from a virus that affected the global economy. For those of us who spend our days buried in the details trying to dig a way out into daylight, we can see it. There are silver linings all around us, and that is topic of today’s show. Today, we are going to cover just the tip of the iceberg on

  • Episode 169: Opportunities During a Crisis

    Episode 169: Opportunities During a Crisis

    12/04/2020 Duration: 31min

    Some of you have already been practicing social distancing for the past week. For those of you who have just started, welcome! These are wild times. We’ve never seen anything like it. Day to day, we are experiencing a wide range of emotions. It’s important to plan appropriately and not panic, especially when you’ve watched such a drastic decline in your investments. Believe it or not, there are opportunities during a crisis. In order to stay in the long game, it’s good to take advantage of them now.  Topics of discussion today:  · Can I use the income tax deadline to my advantage? · What are the new IRA contribution deadlines, and can they help me? · Is now a good time to convert my Roth IRA?  · What if I had planned on retiring this year? 

  • Episode 168: Stay The Course

    Episode 168: Stay The Course

    12/04/2020 Duration: 40min

    When fear is running rampant in the world, it is a normal reaction to retreat and hide. But as humans, we are designed to survive no matter what. It’s our most primitive calling … to live. Therefore, we work, support and thrive in an economy where our contributions matter and we are rewarded for that. As social distancing increases, it changes the economy, which is already at mercy of the market reactions. The goal of today’s show is to give you perspective. Anytime we face a global crisis, it hits close to home when our survival is threatened. Join us today as we give you a personal and professional overview of what is currently happening in the market. Remember … this can also be a time of great opportunity. As such, we are going to stay the course. Investing is about the long game, not the short-term gains.

  • Episode 167: Social Security and Medicare Taxation

    Episode 167: Social Security and Medicare Taxation

    09/04/2020 Duration: 28min

    Dennis Prout and Heidi Thompson discuss Social Security and Medicare Taxes in this episode.  Tune in to understand options to consider in this current economy.

  • Episode 165: Tax Man Live

    Episode 165: Tax Man Live

    09/04/2020 Duration: 41min

    By some miracle, we were able to get Jon Sluis out of his office during tax season! We aren’t going to waste his time or yours … so we’ve come up with a list of FRESH, relevant questions! So whether you’re planning solo or as a business owner, now is the time to take a closer look at the numbers and strategies available to you. Today, we’ll ask Jon about the new tax laws and how they are affecting people right now. For business owners, we’ll discuss business income deductions and why they are important to owners. When it comes to saving, we want to know how CPAs and advisors think differently. And when it comes to spending, how do consumers think differently?

  • Episode 164: Tax Talk

    Episode 164: Tax Talk

    10/03/2020 Duration: 32min

    Are you working with the right tax professional? With the April deadline fast approaching, you may have already started reviewing your financial documents for your 2019 return. But do you have a qualified professional on your planning team? There are certain questions to ask and criteria to look for before hiring anyone. Tune in today and we’ll give you some questions that may help you! Also, as promised, we are keeping you up-to-date with the SECURE Act and how it will affect your planning. Finally … Heidi has some pertinent Health Savings Account information you definitely don’t want to miss!

  • Episode163: The Economy and More

    Episode163: The Economy and More

    25/02/2020 Duration: 31min

    In this episode Dennis Prout talks about the economy and current situations such as the Coronavirus that could have an impact globally.  Also discussed is the Secure Act and and the Required Beginning Date (RBD), which is the date an individual is required to begin taking their Required Minimum Distributions (RMD).

  • Episode 160: Health Care Taxes

    Episode 160: Health Care Taxes

    25/02/2020 Duration: 32min

    Chances are you have heard about the 3.8% surtax that went into effect in 2013 under the Affordable Care Act – but do you know if and when you might need to pay it? Despite changes to the tax code in recent years, the Medicare tax and net investment income tax remain in effect. This surtax requires that an additional tax be paid by those with investment income, whether from interest, dividends, capital gains or rental properties when they are above the annual income threshold. Trusts and estates are hit especially hard; they reach the income threshold at only $12,950 in 2020. For those still earning wages or self-employment income, there might be an additional 0.9% Medicare tax to consider as well.

  • Episode 158: Top Retirement Rulings 2019

    Episode 158: Top Retirement Rulings 2019

    25/02/2020 Duration: 32min

    New Legislation called The Secure Act passed in 2019 that will be effective for 2020 tax year.  Also discussed in this episode is the new IRS form W4.

  • Episode 162: Theyre Back from Conference

    Episode 162: They're Back from Conference

    13/02/2020 Duration: 33min

    They're BAAAAAAACK!        February 6th, 2020             Dennis, Heidi and the team are back from their annual TD Ameritrade Conference in Orlando, Florida. It’s always a mind-blowing experience to hear from global experts in the world of finance and beyond. So today, we’ll cover exciting topics from blockchain to bitcoin. The global market is getting close to home. In fact, it’s already in your backyard. And speaking of your yard, if you expect to find a pot of gold buried there, think again. Most families plan on leaving their treasures to charities, which isn’t such a bad idea considering that Millennials are turning out to be the most generous generation yet.

  • Episode 161: Heidi  Shea Talk Money

    Episode 161: Heidi & Shea Talk Money

    06/02/2020 Duration: 41min

    Did you know that Heidi and I (Shea) have been working together for 11 years now? Over the last few years we have developed a workshop for women called “Flourish.” This event teaches women how to look at planning for their financial future from the bird’s-eye view. This broad perspective helps us decide where we want to land in retirement. Turns out, men want to hear the information too! You’re in luck! Heidi and I are taking over the studio to share portions of our workshop with you. This is also a great show for younger family members who are trying to understand how and why they should get started.

  • Episode 156: The Secure Act and You

    Episode 156: The Secure Act and You

    30/01/2020 Duration: 49min

    As 2019 rounds the bend and gets closer to the finish, so are some legislative acts that we’ve been talking about. Ed Slott, America’s IRA expert, warned us about the likely passage of the SECURE (Setting Every Community Up for Retirement Enhancement) Act in 2020. As of last week, it passed both houses and President Trump signed the bill.

  • Episode 159: Decision Fatigue

    Episode 159: Decision Fatigue

    28/01/2020 Duration: 31min

    After analyzing over 225 million hours of working time in 2017, RescueTime found the average digital user switches between tasks more than 300 times per day during working hours. Daily we are making decisions about work while simultaneously managing our families, health and finances. Our digital lives, which was intended to make management easier, have made us accessible 24/7. As a nation, I wonder if we are experiencing decision fatigue. How does one get ahead with their financial goals when the path to get there is crowded with so many immediate demands. Tune in today and we talk about the psychology of money while giving you tangible ways to systemize your investment plans. If you want to learn more about how to manage decision fatigue, check out this Fast Company article.

  • Episode 157: Hindsight is 20/20

    Episode 157: Hindsight is 20/20

    27/01/2020 Duration: 46min

    It’s hard to believe that it’s 2020. As a kid I (Shea) would try to imagine what the year would look like. I hoped for flying cars, robot butlers and world peace. I never imagined working full time, paying a mortgage and living what would still be considered “real life.” I certainly didn’t predict that AM radio would still be alive and well and that I’d be on it! Lucky me! What are you predicting this year? We’ve been hearing from quite a lot of entrepreneurs that they would like to sell their businesses. It feels like a good time to cut ties, but where does one land in this transaction? I have Tim Cartwright (Heidi's brother), advisor and partner at Fifth Avenue Family Office® in Naples, Florida. He’s been in the mergers and acquisitions business long enough to offer sound advice. Hindsight is 20/20, and he’s going to share it with you today.

  • Episode 155: The Economic Outlook

    Episode 155: The Economic Outlook

    30/12/2019 Duration: 30min

    There’s high drama in Washington, D.C. We’ve been glued to the news. These are wild times and yet, as Ecclesiastes 1:9 says, “There is nothing new under the sun.” How does one move forward with a plan for 2020 when it appears that everything around us is unpredictable? Especially during an election year? Our suggestion … go back to the numbers. Today, Dennis and Heidi will cover the stats of 2019 with strategic ways to approach the New Year. Tune in, call in and weigh in with your plans. 

  • Episode 154: Year End Tax Planning

    Episode 154: Year End Tax Planning

    30/12/2019 Duration: 33min

    How did you fare under the Trump tax plan? If you’re not sure, now would be the time to look instead of waiting until April 15, 2020, which is why we have special guest, Jon Sluis, CPA President of Intrust CPAs on the air with us today. He will share why there is a certain level of urgency for the self-employed and small business to consider your tax position before year-end. If you’re retired, you’ll need to look at RMDs and qualified charitable distributions, and how those affect your tax bracket. For those of you still working, you’ll want to know how contributing to your retirement account, HSAs, and other tax saving strategies can help your tax game.

  • Episode 153: Retirement in 2020

    Episode 153: Retirement in 2020

    24/12/2019 Duration: 26min

    Can you believe that 2020 is less than a month away? It seems like yesterday that we were worried about Y2K! Time flies when you’re having a good time, so what happens when you’re not? Maybe you’ve put in the time, paid your dues and now it’s time to retire. You’ve even endured a “few extra years” to build up the nest egg, and now it’s time to fly solo … this is the YEAR! We want to help you take the leap into the highly anticipated and great unknown.   Today, we’re going to give you a checklist of “to-do’s” before you mark your career “to-done.” There’s never been more retirement responsibility on YOU than today. Relax, it’s what we like “to-do.”

  • Episode 152: Speical Guest Doug Godbe

    Episode 152: Speical Guest Doug Godbe

    11/12/2019 Duration: 47min

    Retired lawyer Doug Godbe has a few things to share after his nearly 42-year career as a probate and estate planning attorney. In fact, he might surprise you with some of his thoughts about estate planning. Doug never practiced law in Michigan, his legal career was in California only. Accordingly, his statements today are merely observations of general probate and estate law. You should always consult with a licensed lawyer in your state for legal advice. For the last 31 years of his practice, Doug was a sole practitioner in Orange County, California. He has also authored five books on estate planning, probate and financial powers of attorneys. Tune in, and you might be pleasantly surprised by some of his ideas like: “Don’t leave NOTHING to your least favorite relative. Leave them SOMETHING with a ‘no contest’ clause. It will be more painful for them to lose the money they’ve inherited contesting it than it will be for them to lose nothing contesting what they didn’t receive.”

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