Episode 354 - There's gold in them thar hills!
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
3w ago
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 truly amazing what can be gleaned from history. Given the dynamics of this market, it can be very helpful to us to remember the past and take what we can learn from it. On today’s show, Heidi wi ..read more
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Episode 352 - Life Can Be Hard
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
1M ago
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 edition of their long-term perspective on markets and economies, as well as various economists like Ed Yardeni. We’ll have enough stats to assist you in getting a better idea of ’24 as well as current o ..read more
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Episode 351 - New Year, New Changes
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
1M ago
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 Jon Sluis, CPA, what he’s seeing, advising and what areas owners should think about before and after the transaction. Timing, planning and opportunities can change quickly for those on the asset ow ..read more
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Episode 350 - Taxes and Year-End Planning
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
2M ago
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 in on this one because, according to The Wall Street Journal, it’s the most important tax case in decades. We’ll offer our opinions on what this proposal could mean and the impact might ..read more
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Episode 349 - The Life of Charles Munger: An Incredibly Successful Businessman
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
2M ago
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 axioms can help those pursuing higher achievement and a general attitude that can motivate us all. Next, Heidi will discuss the pros and cons of taking Social Security earlier or later (as the case may ..read more
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Episode 348 - Estate Planning to Avoid Tax Consequences
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
3M ago
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 planning and the best ways to avoid tax consequences. Next, Heidi will discuss the economy and opportunities you might take advantage of given the anticipated eventual decline of interest rates. You m ..read more
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Episode 347 - Year-Ending Charitable Planning and Smart Giving
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
3M ago
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 week, the Ed Slott team expressed their own frustrations with the complexity of new regulations and the questions still unanswered by the IRS. So we’ll shed some more light on these issues to hopeful ..read more
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Episode 346 - Getting Ever Closer to 2024!
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
4M ago
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 with IRAs as well as learn some useful, not-so-common strategies. Natalie Choate will weigh in on charitable thoughts for IRAs that will help expand our potential. Next, Heidi will discuss new ..read more
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Episode 345 - Economic Realities of Our World
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
4M ago
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 actually take advantage of today’s higher interest rates. We’ll help you think through your options and potentially make better choices for your future. History can be very useful in helping ..read more
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Episode 344 - All About Social Security
New Retirement Radio with Dennis Prout Podcast
by Dennis Prout and Shea Petaja
4M ago
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 benefits starting January of 2024. While this is helpful information, there are several other changes being made to Social Security that we need to discuss, as well as benefit questions we ..read more
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