Kitchen Table Finance

Riding the Market Roller Coaster: Lessons from a Wild Spring It's been a bumpy ride in the markets this spring, and in this episode, Dave and Cole (filling in for Nick) sit down to talk through what happened, what it means for investors, and how to move forward with confidence. https://youtu.be/OlXVM0GV66M From steep drops to quick rebounds, the market has kept everyone on their toes. They break it all down in plain language and share their thoughts on: What actually happened in March and April—and why it felt so extreme The difference between risk tolerance and risk perception (and why you might feel differently now than you did a few months ago) Why doing nothing might have been the smartest move How diversification helped soften the blow for many investors The importance of keeping short-term savings and goals top of mind Whether you stayed calm, felt anxious, or made some changes to your portfolio, there are lessons to take from all of it. They offer practical advice for what to do next, how to think about your investments going forward, and why focusing on your long-term goals is still the best approach. This is a great episode for anyone wondering: Did I handle that market swing the right way?

In this episode, Dave and Nick dive into one of the most overlooked—but absolutely essential—parts of retirement planning: how to actually enjoy it. You've spent decades saving, investing, and working hard. But have you really thought about what your ideal retirement looks like? Spoiler alert: it's not just endless rounds of golf and sunsets on a beach. It's about purpose, lifestyle, relationships, and flexibility. https://youtu.be/ddfIokXyRUg Dave and Nick walk you through: Why setting realistic expectations is the foundation of retirement planning The surprising importance of part-time work, volunteering, or staying engaged Top retirement concerns like healthcare costs, investment losses, and losing that steady paycheck How to run tradeoff scenarios—like “What if I work just one more year?” The idea of a “practice retirement” (hint: mini-retirements, RV rentals, and snowbird test runs) Why flexibility is king, and how the best retirement plans are the ones that evolve This episode is packed with relatable stories, expert advice, and just the right dose of humor to help you think differently about your future.

Welcome back to Kitchen Table Finance, where we serve up bite-sized financial wisdom with a side of common sense. In this episode, Dave and Nick tackle one of the biggest financial questions for retirees: Should you buy a house in retirement—or just stay put? Here's what's on the table: Why timing the housing market is just as tricky as timing the stock market The emotional side of downsizing—yes, those red velvet ropes for the kids' old rooms count! Why small homes are in big demand—and what that means for prices Mortgages in retirement: fact vs. fiction (Hint: You can get one) The pros and cons of paying off your mortgage vs. keeping your investments liquid Real-life scenarios showing the costs of “downsizing” and whether it actually saves you money Alternatives like renting, reverse mortgages, and bridge loans The surprising truth about homeownership and wealth-building https://youtu.be/P5JAiS8dDuY The big takeaway? It's not just about the numbers—it's about your goals, lifestyle, and peace of mind. Whether you're dreaming of a maintenance-free condo or a cozy ranch to age in place, there are lots of options to make it work. Need help sorting through the details of your own housing plan? Let's chat. Start with a free, no-pressure Fit Meeting to see how we can help you build a retirement that fits you.

Roth Conversions: Worth It or Not? Welcome back to the Kitchen Table! In today's episode, Dave and Nick take a deeper dive into the world of Roth conversions—what they are, how they work, and whether or not they make sense for your retirement plan. This isn't your average tax talk. We're serving up a practical, no-pressure conversation about a tool that gets a lot of hype—and a lot of confusion. From “backdoor” and “mega backdoor” conversions to tax brackets, timing, and even state-by-state considerations, we break it down so you can decide if a Roth conversion fits into your financial picture. https://youtu.be/1R9DGmRya_Q In This Episode: What is a Roth conversion and how does it work? The pros, cons, and “it depends” of using this strategy How tax brackets and future income impact your decision Real-life scenarios: early retirement, variable income, and legacy planning Roth conversions and their effect on RMDs (Required Minimum Distributions) When it's better to wait—and when it might pay to act now Takeaway Roth conversions can be a smart move, but they're not for everyone. As always, your financial goals, current tax situation, and long-term plans matter most. Don't follow the crowd—make a choice that fits YOU.

Hosts: Nick and guest advisor Cole WilliamsSpecial Guest Absence: Dave is off living his best life in Bozeman, Montana (hopefully catching trout and not taxes). In this episode of Kitchen Table Finance, we take a deep dive into one of retirement's least sexy—but most critical—topics: taxes. Whether you've just filed and are ready to forget about them until next year (don't), or you're actively planning your golden years, this episode is packed with straight talk and strategies to help you keep more of what you've worked so hard for. https://youtu.be/1XkZhAKdR-A What You'll Learn: How taxes work in retirement – Spoiler: it's not like your working years. Three ways to pay your taxes once the paycheck stops – Withholding, estimated payments, or via pensions/social security. Which accounts to draw from and when – Taxable, pre-tax, or Roth? The order matters more than you think. What RMDs (Required Minimum Distributions) mean for your tax bill – Plus, when they start depending on your birth year. Tax traps to avoid – Including Medicare surcharges (IRMAA), net investment income tax, and surprise Social Security taxation. When Roth conversions make sense – Hint: it's not one-size-fits-all. Giving back smartly – How Qualified Charitable Distributions (QCDs) can keep your heart warm and your taxes low. Special account strategies – HSA withdrawals, leftover 529 plans, and even employer stock gains through Net Unrealized Appreciation (NUA). What if the tax laws change? – Because, well… they will. Nick and Cole don't just dump info—they break it down so you can understand how to apply it, avoid common missteps, and stay ahead of Uncle Sam without losing sleep. Resources Mentioned: Flowcharts and planning tools available upon request Income Lab software insights for long-term planning A healthy dose of common sense and humor (yes, about taxes) Ready to get a grip on your retirement tax strategy?Start with a Fit Meeting—no pressure, just a chat. Visit srbadvisors.com or email us at info@srbadvisors.com. Don't forget to subscribe to our YouTube channel for more down-to-earth finance guidance.

Welcome back, friends!Today, Dave and Nick roll up their sleeves and dive into the wild and wonderful world of retirement headlines from March and April. Think of it as your financial cliff notes — so you can sound smarter than your neighbor without actually having to read all the boring articles yourself. https://youtu.be/SfyJRISwYIw Here's what we served up on the Kitchen Table Private Equity in Your 401(k)? Hold up — private equity is trying to sneak into your retirement plan! Dave and Nick explain why this might not be the fabulous idea it sounds like at first. Liquidity issues, risk, and fine print galore. Learn more about Private Equity in Retirement Plans (WSJ) Polarization and Your Economic Beliefs How our brain tricks us into believing whatever fits our narrative — and how that's totally wrecking how we all read the news. The Economics of Polarization (WSJ) Retirement Happiness = Planning Your Time Spoiler alert: you won't be happy just binge-watching "The Office" reruns for four hours a day. (Although, honestly, tempting.) Plan your time intentionally for a fulfilling retirement. How You Spend Time in Retirement Matters (WSJ) The Bucket Strategy for Retirement Income Buckets: not just for cleaning or gardening! Divide your cash into short-term, mid-term, and long-term "buckets" so you're not freaking out every time the stock market sneezes. Bucket Investing for Retirement (Morningstar) Is 2025 a Bad Year to Retire? Spoiler: If you've done your homework (hello, diversified cash reserves!), you're fine. If you haven't...well, maybe work a tiny bit longer. Is This a Bad Year to Retire? (Kiplinger) How to Avoid Outliving Your Retirement Savings Sequence of return risk = fancy finance speak for "don't pull out money when your investments are down." Simple? Nope. Important? You betcha. Avoiding Outliving Your Savings (Morningstar) Tax Tips for Retirees (Because Taxes Never Sleep) Medical home improvements: can you actually deduct that new Jacuzzi? Maybe, but tread lightly. Required Minimum Distributions (RMDs): don't get caught by surprise. Social Security is (sometimes) taxable — shocker, we know. State taxes, Medicare premium cliffs, and more fun things no one told you about. 10 Tax Topics Every Retiree Should Know (Kiplinger) Tax-Deductible Home Improvements (Kiplinger) Connect With Us Got questions? Need a second opinion on your retirement plan?

In this episode, Nick and Dave take a seat at the kitchen table to unpack the highs and lows of the first quarter of 2025. From global diversification wins to U.S. economic uncertainty, they break down what investors need to know—and what they don't need to stress over. https://youtu.be/iXrCvNCGtO0 Glass Half Full Diversification Pays Off: International stocks outperformed U.S. markets in Q1, offering a little sunshine in an otherwise cloudy domestic market. Strong Labor Market: Unemployment remains low, with a resilient workforce keeping things steady despite headline doom and gloom. Inflation Easing: February inflation reading at 2.8% shows a softening trend, starting Q2 on a hopeful note. Glass Half Empty Tariff Uncertainty: Global trade tensions and tariff talks are creating ripple effects in consumer sentiment and investor confidence. Fed Rate Cut Expectations Dwindle: Initial optimism about multiple rate cuts is fading fast amid inflationary pressures and policy wait-and-see approaches. Consumer Confidence Dips: Despite spending holding strong, consumers are increasingly cautious about what's ahead. Long-Term Lens Nick and Dave remind listeners that short-term dips and economic jitters are nothing new. They share a powerful chart (linked below!) showing that even with frequent downturns, the market trends upward over time. It's a comforting nudge to stay the course, breathe, and trust the process. Check out the chart on past downturns and long-term performance [linked here – add link when published]. Tune in to hear Why international markets are leading the pack in 2025 What tariffs might mean for your portfolio and your wallet Why the Fed's holding steady—and what that means for you How to keep your cool amid market noise Need help making sense of it all? Schedule a chat with the team at Shotwell Rutter Baer—they're always happy to help you cut through the clutter and make smart financial decisions for your future.

Welcome to Kitchen Table Finance! Join hosts Nick and Dave as they dig into one of the most important aspects of financial planning for retirees: when and how to adjust your retirement income. Whether you're navigating market volatility, planning for worst-case scenarios, or wondering if you can spend more than you thought, this episode is packed with actionable insights for retirees and those planning their next chapter. https://youtu.be/f8NIi_CfYw8 What You'll Learn in This Episode: Why planning ahead is key Learn how defining your income rules early on helps reduce emotional decision-making later. The two sides of retirement spending Understand the differences between necessary expenses (like bills) and discretionary spending (like travel), and how these categories play into market ups and downs. Adapting to market changes Discover techniques for adjusting your spending in bear markets to keep your long-term plan on track, including tips on finding a sustainable withdrawal rate. Opportunities for increased spending Why many retirees may be underspending and how to recognize when it's safe to increase your discretionary budget. Using history as a guide Dive into historical scenarios like the Great Financial Crisis and stagflation to see what they teach us about retirement income adjustments. Tools to manage retirement income From Monte Carlo simulations to strategies for creating fixed income sources, Nick and Dave break it down step-by-step. Resources Mentioned: Monte Carlo Simulations for retirement income planning Tools for determining sustainable withdrawal rates SRB Advisors YouTube Channel – Keep an eye out for a new video demonstrating how to visualize market scenarios using advanced software! Why This Episode Matters Market downturns happen, but you don't need to panic. This episode will give you the confidence and tools to stick to your financial principles, make informed adjustments, and sustain your retirement income for the long run. Contact Shotwell Rutter Baer Got questions or want help with your retirement income plan? Visit our website at srbadvisors.com Email us at info@srbadvisors.com Thank you for tuning in! Hit subscribe so you never miss an episode, and join us next time for more insights at the intersection of finances and retirement at Kitchen Table Finance!

In this heartfelt and timely episode, Dave and Nick step away from charts and market trends to focus on something just as important—the emotions behind the numbers. If you're retired or nearing retirement, you've likely felt the weight of recent market turbulence. Maybe you're wondering if your plan is still on track or feeling that itch to “do something” in response to all the headlines. Don't worry—you're not alone. https://youtu.be/HmFVuNyDiCw What's Covered in This Episode Why fear and uncertainty are natural (and even expected) during volatile markets The importance of emotional awareness and knowing your personal reaction style Why “just staying the course” isn't just a catchphrase—it's a lifesaver Powerful insights from financial legends like Warren Buffett, Carl Richards, Morgan Housel, and Dr. Daniel Crosby Practical ways to cope: from revisiting your risk tolerance to knowing when it's OK to delay purchases The value of talking it out early—with your advisor, your partner, or your financial planning team

Join us for another engaging episode of Kitchen Table Finance! This week, Nick sits down with Nathan Gardner, an SRB intern and aspiring financial planner, to learn more about his background, experiences, and passion for financial planning. Nathan shares his transition from a small-town upbringing to Michigan State University, his involvement in the university's Wealth Management Program, and how it shaped his career aspirations. https://youtu.be/F72HlrqhqD8 Discover how Nathan became inspired by the life planning process and why he's passionate about making a meaningful impact through financial planning. You'll also hear his thoughts on navigating market volatility as an intern, the importance of connecting meaning to money, and the future of the financial planning profession. This episode offers valuable insights for both aspiring professionals and seasoned planners alike! What You'll Learn in This Episode Nathan's path from a small-town school to Michigan State University How the Wealth Management Program prepares students for the CFP exam The impact of the Wealth Management Association on professional growth Lessons learned from handling market corrections and client emotions Why life planning connects money with meaning in a client's life Advice for students entering the financial planning industry Connect with Us

Retirement planning isn't just about getting to retirement—it's about making sure your income lasts through retirement. In this episode, Dave and Cole break down how to adjust your retirement income to fit your lifestyle, changing expenses, and market conditions. They keep it real with practical tips and a down-to-earth discussion on how to create flexibility in your financial plan, avoid common pitfalls, and make your money work for you in retirement. https://youtu.be/IDiHtKAKZdk What You'll Learn in This Episode: ✔️ Why a static income plan doesn't work for most retirees✔️ How to manage withdrawals based on market performance✔️ The role of annuities, pensions, and Social Security in your income mix✔️ Strategies for adjusting spending while keeping financial security✔️ How to prepare for unexpected expenses and rising costs Key Takeaways:

In this special episode, Nick and Cole put artificial intelligence to the test in a fun and insightful financial planning battle—CFP vs. ChatGPT! They tackle some of the most common retirement and estate planning questions, comparing Nick's expert advice to ChatGPT's AI-generated insights. Who gives the better answers? You decide! https://youtu.be/89elFdanuIU Topics Covered: ✔️ Have I Saved Enough for Retirement? Importance of budgeting and projecting income Social Security, pensions, annuities, and investment returns Using Monte Carlo simulations to stress-test retirement plans AI's reliance on rules of thumb like the 4% rule ✔️ How Do I Avoid Running Out of Money in Retirement? The power of adaptability in financial planning Running regular projections and reviewing income sources Emergency funds and cash reserves in retirement ✔️ Planning for Healthcare & Long-Term Care Costs Pre- and post-65 healthcare planning (Marketplace vs. Medicare) Estimating rising healthcare costs The role of HSAs (Health Savings Accounts) in retirement ✔️ How to Reduce Tax Exposure in Retirement Strategic Roth conversions and tax-efficient withdrawals Understanding Required Minimum Distributions (RMDs) State tax considerations and charitable giving strategies ✔️ How to Plan for Inflation in Retirement Investing in assets that outpace inflation (stocks, real estate, TIPS) The “retirement spending smile” and adjusting spending over time Diversification and balancing risk for long-term financial security Key Takeaways:

Episode Summary In this episode of Kitchen Table Finance, Nick and Dave dive into the biggest retirement-related headlines from February 2025. They discuss essential financial planning topics, including tax strategies, healthcare costs, tariffs, retirement savings habits, and key conversations to have before retiring. https://youtu.be/wUBQ_6HWRHo Key Topics & Takeaways 1. Tax Planning & Healthcare in Retirement (Kiplinger) The importance of integrating tax and healthcare planning into your retirement strategy. Key questions to consider: Have you explored Roth conversions and tax-free investment options? Are you optimizing your AGI to reduce taxes and Medicare premiums? Do you have a plan for long-term care costs? Does your plan consider legacy goals and potential tax burdens? 2. The Impact of Tariffs on Prices (WSJ) A breakdown of how tariffs affect different types of goods. Competitive commodities may see little price increase, while niche products and expensive items may experience higher costs. The unexpected ways tariffs could impact American businesses and consumers. 3. Boosting Your Retirement Savings by Thinking About Future You (WSJ) Many people struggle to prioritize retirement savings because it feels far away. A study shows that individuals who visualize their future selves are more likely to save. Tip: Use AI to generate an image of your older self to create a stronger connection to your financial future. 4. Who Should You Talk to Before Retiring? Two articles take different perspectives on this: WSJ Perspective (WSJ): Spouse, adult children, doctor, HR chief, siblings, financial advisor, trusted colleague, and yourself. Kiplinger Perspective (Kiplinger): Financial planner, tax specialist, estate planning attorney, insurance advisor, senior living advisor, and Social Security advisor. 5. The “Golden Window” Tax Strategy (Kiplinger) The "Golden Window" is the period after retirement but before Social Security and required minimum distributions (RMDs) when taxes are often lower. Strategies for using this time: Roth conversions. Lowering lifetime taxes. Hedging against future tax rate increases. Important considerations: Medicare IRMAA, capital gains tax, and marketplace insurance subsidies. 6. DIY Retirement Planning: Smart or Risky? (Kiplinger) Pros: Saves money, and flexibility. Cons: Risk of costly mistakes, staying up-to-date on tax and investment rules, and long-term planning concerns. It is important to have a plan in place for when a spouse or financial planner is no longer available. 7. Four Things You Lose in Retirement (Kiplinger) Financial security. Employee benefits. Social network. Sense of purpose. The importance of planning ahead to maintain fulfillment and stability. 8. Once You Hit 55, Is the Stock Market Still Your Best Bet? (Kiplinger) The article raises valid points about risk tolerance but oversimplifies the decision. Key takeaways: You should reduce risk but maintain enough growth to outpace inflation. It's not an all-or-nothing decision—balance is key. 9. The 2025 Retirement Landscape: Challenges and Opportunities (U.S. News) Key concerns: Inflation remains a challenge. Market uncertainty continues. The importance of balancing risk and return in 2025. Social Security will see a 2.5% increase—but is it enough? Final Thoughts Nick and Dave emphasize the importance of ongoing financial planning. Markets, tax laws, and personal goals evolve, making it essential to revisit your financial strategy regularly. Resources & Links Schedule a Fit Meeting with Shotwell Rutter Baer Contact: info@srbadvisors.com Subscribe & Follow: The kitchen Table Finance Podcast on your favorite podcast platform.

Episode Summary In this episode, we welcome Kim Barber from Globetrotter Travel to discuss planning and budgeting for travel in retirement. Travel is a top priority for many retirees, but navigating costs, destinations, and logistics can be overwhelming. Kim shares expert advice on how to make the most of your travel budget, plan bucket-list trips, and find options for solo travelers. https://youtu.be/mB6wTNI16BM Key Takeaways: Start Planning Early – Booking in advance can help secure better pricing and spread out payments. Budgeting for Travel – A $10,000 annual travel budget can cover one big European trip or multiple smaller trips. Solo Travel Options – Group tours, women-only trips, and cruises can be great ways for solo travelers to explore safely. Bucket-List Trips – Destinations like African safaris, Antarctica, and Australia/New Zealand are popular among retirees. Health & Safety Considerations – Travel insurance is crucial, especially for medical coverage and emergency evacuations. Tourism Trends & Challenges – Some destinations are experiencing pushback from locals due to over-tourism and short-term rentals. Best Travel Advice: Be flexible and don't wait too long to take your dream trips—you never know what the future holds! Rapid Fire Questions with Kim: Best Beach Destination for Retirees? Hawaii Most Underrated Destination? Mexico Best City for Food Lovers? Seattle Best Budget-Friendly Country? Portugal, Mexico, Jamaica, Dominican Republic Favorite Hidden Gem? African safari Best Cruise Destination? Mediterranean Best Place for History Buffs? Europe Connect with Kim Barber & Globetrotter Travel:

Episode Summary In this episode, Dave and Nick discuss George Kinder's Financial Life Planning Process and how it applies to retirement savings. They explore how financial planning goes beyond numbers and investments—it's about aligning financial decisions with what truly matters to you. They also break down Kinder's famous three questions that help individuals clarify their financial and life priorities. https://youtu.be/Yvdb-nCmaZQ Key Topics Covered Who is George Kinder? Known as the "Father of Financial Life Planning." His approach prioritizes personal fulfillment over just growing wealth. The Shift from Spender to Saver in Retirement Why transitioning from saving to spending can be difficult. Overcoming the fear of outliving your money. Kinder's Three Life Planning Questions Imagine you are financially secure. What would you do differently? You have 5-10 years left to live. What changes would you make? You have 24 hours left to live. What regrets do you have? How These Questions Guide Retirement Planning Identifying what truly brings happiness and fulfillment. Adjusting financial plans to support a meaningful life. Addressing obstacles that prevent financial and personal goals. The Value of a Financial Life Planner Why working with a professional makes a difference. The emotional component of financial decisions. How planners help clients overcome limiting beliefs about money. Resources Mentioned George Kinder's Website – Learn more about life planning. Find a Registered Life Planner in your area. Shotwell Rutter Baer Advisors: SRBAdvisors.com Connect with Us

Episode Summary Retirement isn't just a financial transition—it's a psychological one too. After years of saving and accumulating wealth, shifting to spending in retirement can feel unnatural or even scary. In this episode, Dave and Nick discuss how retirees can successfully make this transition by aligning their spending with their values, understanding their financial resources, and maintaining flexibility in their plans. https://youtu.be/N7Pn8bGPBW4 Key Takeaways Align Your Values with Your Money Many people spend years saving but give little thought to how they will actually spend in retirement. A helpful exercise is to identify what matters most—family, travel, philanthropy, or hobbies—and plan spending around those priorities. Resource Mentioned: Life Planning for You by George Kinder Understand Where Your Money Goes Instead of focusing on replacing your paycheck, identify what spending truly brings you fulfillment. Reviewing your budget can help determine which expenses are essential and which are flexible. Know Your Retirement Resources Consider Social Security timing, investment income, and other sources of cash flow. Balance guaranteed income with withdrawals from your portfolio to maintain financial stability. Have an Investment Philosophy and Stick With It Retirement investing should be intentional, focusing on long-term sustainability. Market downturns feel different when you're no longer earning a paycheck, so having a solid plan in place helps prevent panic. Be Flexible Life changes, and so should your financial plan. Revisiting your goals annually ensures that your retirement plan aligns with your evolving needs and desires. Final Thoughts Making the shift from saving to spending requires intentionality and a mindset shift. By planning ahead and understanding your financial picture, you can enjoy a fulfilling and stress-free retirement. Resources & Contact

Welcome to another episode of Kitchen Table Finance! Join hosts David Shotwell and Nick Nauta as they break down the biggest financial headlines from January, so you don't have to. https://youtu.be/QVMJFh-cNik Articles Covered in This Episode: 1. How to Launch a Successful Consulting Business in Retirement Insights from a Wall Street Journal article on transitioning from a professional career to part-time consulting. Key takeaways: Plan ahead and obtain the necessary certifications. Treat consulting like a real business. Consider working with your former employer as a client. Charge based on your experience, not your time 2. How Seniors Can Donate More to Charity and Pay Less in Taxes Discussion on qualified charitable distributions, donor-advised funds, and tax-efficient ways to give. Why writing checks to charities might not be the best strategy. 3. Retirees Will Pay Twice as Much as They Think for Healthcare Breakdown of a Fidelity study: the average retiree spends $165,000 on healthcare—more than twice what most people expect. Why it's crucial to factor healthcare costs into retirement planning. 4. 100% stocks for retirement? A new study says dump the 60/40 portfolio and target-date funds. MarketWatch report suggesting all-equity portfolios for retirees. Pros and cons of higher stock allocations and why diversification still matters. In their study, Anarkulova and her co-authors looked at what drives financial success in retirement by focusing on four key outcomes: how much wealth people have when they retire, the income they can generate during retirement, how well they preserve their savings, and the amount they can leave behind as an inheritance. On average, the optimal portfolio, which is rebalanced monthly, produces 50% more retirement wealth than a balanced fund and 39% more than a TDF. And this extra wealth translates into higher retirement income for those who follow the all-stock strategy, according to Anarkulova. 5. A One-Hour Exercise That Can Save You Thousands in 2025 Conduct spending inventory! -  Take 1 hour to review and make a plan Plug leaks (subscriptions, etc.) Unsubscribe from advertising emails/texts Review last year's numbers (write them down!) Spending Post-Mortem Why did I spend money in this category? How can I budget for this category in 2025 How/should I cut on this category in 2025 Remove payment information 24-hour waiting period Fiscal fast for one month in category 6. How Will My Grandchildren Remember Me? These Seven Objects May Tell Them My Story. Thoughtful discussion on passing down meaningful items rather than just financial wealth. Downsizing with purpose while preserving family stories. 7. The Rise of Private Equity ETFs – Buyer Beware The push to include private equity in 401(k) plans and why it's important to assess liquidity and risk factors. There are reasons access has been limited in the past Be wary of liquidity and safety concerns Just because you can buy it doesn't mean that you should 8. What Economists Could Learn from George Costanza A New York Times article exploring why doing the opposite of economic forecasts might not be the worst idea. 9. Even Rich Retirees Fear Outliving Their Money Studies show those who spend more report greater retirement satisfaction, yet older Americans live below their means Retirement consumption puzzle 2.1% vs 4% rule Fear making them miss out Running out of money Market downturn LTC/health need Give yourself permission to spend (or get permission from a professional!) 10. Biggest Regrets in Retirement Not starting to save and plan earlier Starting SS too early Retiring with too much debt No transition planning Preparing emotionally The good news? 4-10 experience increased happiness 11.

In this episode of Kitchen Table Finance, Dave Shotwell and guest co-host Cole Williams take a deep dive into financial crises—focusing on the Great Recession of 2007–2009. They explore its impact on financial planning, investor psychology, and how those experiences shape decisions even today. https://youtu.be/iw3NV9gkARg What You'll Learn: How the Great Recession shaped financial attitudes across generations The emotional and psychological effects of financial downturns Lessons from history: Comparing 2008 to the Great Depression and other crises How financial advisors help clients navigate uncertainty and market volatility Why market timing is nearly impossible and long-term strategies win The role of behavioral finance in decision-making during downturns How financial resilience and adaptability can shape retirement planning Key Takeaways:

Episode Summary In this episode of Kitchen Table Finance, Dave and Nick dive into the importance of financial "lifeboat drills"—preparing for market downturns before they happen. They discuss why good times in the market don't last forever and how you can set yourself up for success when the waters get rough. From diversification and rebalancing to cash reserves and Roth conversions, they break down practical strategies to help you stay on course, no matter what the market throws your way. Check out Dave's article on Life Boat Drills HERE (also published in TheStreet.com) https://youtu.be/hXvANzt5nXM Key Takeaways Market corrections are inevitable – Planning ahead prevents emotional, knee-jerk reactions. Diversification matters – A balanced portfolio helps you weather market ups and downs. Rebalancing is key – Regularly adjusting your investments can keep your risk in check. Cash reserves provide stability – Keeping some cash on hand can ease stress during downturns. Opportunistic moves – Roth conversions and tax-loss harvesting can turn a market dip into an advantage. Mindset is everything – Mentally preparing for tough times makes them easier to navigate. Resources & Next Steps Want to make sure your financial lifeboat is ready? Connect with the team at SRB Advisors for a relaxed, no-pressure fit meeting to see if we're the right financial partner for you. Visit srbadvisors.com or email us at info@srbadvisors.com. Don't forget to subscribe to our YouTube channel for more insights on smart investing and financial planning! Thanks for listening! If you enjoyed this episode, share it with a friend and leave us a review. Until next time, stay prepared and keep your financial future on course!

Today, we're conducting our Q4 2024 market review and upcoming market outlook. We'll examine what happened last year and what may lie ahead to help listeners set realistic expectations. https://youtu.be/pKRvkkmKZ9M 2024 Market Highlights S&P 500 Performance: 2024 closed with another year of +20% returns. Q4 Results: Large-cap tech stocks rose 7%, while large-cap value stocks declined slightly. International and emerging markets underperformed, but most asset classes saw positive annual returns. Market Resilience: Despite challenges, the market largely shrugged off concerns, including inflation, Federal Reserve actions, and geopolitical events. Labor Market Overview Strength and Stability: The labor market remains resilient with low unemployment, despite significant interest rate hikes in 2022 and 2023. Sector Variability: Growth is concentrated in healthcare and government sectors, while tech lags. Overall, the labor market is robust, supporting strong consumer spending. Interest Rates and Yield Curve Rates and Inflation: Interest rates have stayed higher than expected, with the Federal Reserve lowering short-term rates in late 2024. However, long-term yields have risen, signaling a return to a normal yield curve. Implications: A normal yield curve is a positive economic indicator, even if it frustrates those seeking lower mortgage rates. Elevated yields provide better returns for fixed-income investors. Glass Half Full: Positive Economic Indicators Resilient Economy: Strong labor markets and steady consumer spending support GDP growth. Higher Yields: Safer investments now offer real returns, benefiting income-focused investors. Policy Outlook: Growth-focused policies and deregulation could provide short-term economic stimulus. Glass Half Empty: Potential Challenges Inflationary Risks: Policies like tariffs and reduced immigration may drive inflation by increasing costs for labor and goods. Housing Market: High mortgage rates and limited affordable housing construction remain obstacles. Market Valuations: Two consecutive years of +20% returns may not be sustainable without corresponding earnings growth. Key Takeaways for Financial Planning Timing the Market: Just as timing the stock market is difficult, waiting for the "perfect" time to buy a house is unrealistic. Focus on personal priorities and long-term plans. Valuation Concerns: High market valuations require strong earnings growth to sustain current levels. Monitor earnings reports closely for alignment with market expectations. At Shotwell-Rudder Bear, our approach starts with a fit meeting to see if we're the right match for your financial needs. Trust is the foundation of our relationships, and we're here to help you create a tailored plan. Visit srbadvisors.com to get started today. You can also reach out by calling us at 517-321-4832 or info@srbadvisors.com. Don't miss an episode of Kitchen Table Finance by subscribing to our YouTube Channel. 

Welcome back to Kitchen Table Finance for Season 4! In this highly anticipated episode, Dave and Nick dive into their annual predictions for 2025, reflecting on their 2024 forecasts and offering insights into what might be ahead for the markets, economy, and more. https://youtu.be/DEeoSfGVgDM Highlights from the Episode Recap of 2024 Predictions: The S&P 500 outperformed expectations, closing the year with a 23.3% gain—well above the historical average of 12.3%. Notable forecasts from major firms: Oppenheimer was the closest, predicting a modest 7–10% gain. J.P. Morgan missed the mark, predicting a 10% loss. Nick's Prediction: A near-perfect call of 22%, though humorously tied to the Detroit Lions winning the Super Bowl. 2024 Lessons Learned: Predictions are inherently uncertain; most are based on long-term trends, not short-term market moods. Despite global concerns like elections, geopolitical tensions, and inflation, the market climbed steadily, exemplifying the "wall of worry" phenomenon. Predictions for 2025: S&P 500 Growth: Dave predicts a modest gain to 6,000, citing mean reversion after two stellar years. Nick forecasts a slightly higher target of 6,161, agreeing on modest growth. Small-Cap and International Stocks: Both agree these sectors are overdue for a resurgence, with valuations suggesting potential gains. AI and Tech Companies: The duo expects growth in AI-driven stocks to moderate, with broader market sectors stepping into the spotlight. Key Themes for 2025: Economic Growth: Optimism remains high, with no signs of recession and strong job numbers supporting market momentum. Inflation and Interest Rates: Stabilizing rates and controlled inflation are expected to shape economic trends. Policy Uncertainty: Potential changes in tariffs, taxes, and energy policies could introduce volatility. Advice for Investors: Stay diversified and invested for the long term. Avoid making drastic portfolio changes based on short-term predictions. Prepare mentally for market corrections, as unforeseen events (like COVID-19) often drive significant disruptions. Fun Predictions: Nick predicts this could finally be the Detroit Lions' year to win it all! Dave remains hopeful for a playoff return for the Detroit Red Wings. Additional Resources: Check out Dave's blog post on Lifeboat Drills for preparing your portfolio for market downturns. Stay tuned for future episodes where Dave and Nick dive deeper into strategies for navigating unpredictable markets. Tune in to hear Dave and Nick's full discussion, packed with humor, insights, and actionable advice for 2025! Subscribe NOW!

Identity theft and fraud can pose significant risks to retirees, especially as scammers adapt their methods to exploit those aged 60 and above. This episode addresses how identity theft impacts retirees, the common scams targeting them, and actionable steps to safeguard your financial security in retirement. With insights drawn from the Federal Trade Commission's latest findings and real-life scenarios from our clients, we uncover red flags, preventative measures, and the importance of staying vigilant. https://youtu.be/vnURdPNK-sY Key Topics Covered Who Scammers Target Surprising stats reveal the two age groups most commonly targeted by fraudsters, with retirees in the 60+ demographic at high risk due to tech support scams, fake prize schemes, and impersonation fraud. Biggest Frauds for Retirees: Tech support scams posing as antivirus or Geek Squad representatives. Social Security and Medicare fraud often prompt victims to "verify" personal data via fake links or calls. High-pressure sales tactics at seemingly legitimate investor dinners. What the Statistics Show: Average financial loss increases significantly with age, reaching $1,500 per scam for those aged 80+. Scams come from various channels, including phone (24%), online (21%), and even social media (15%). Steps to Protect Yourself: Always verify legitimacy by conducting independent research on any unsolicited offers. Never reveal your Social Security number in public or carry your card unnecessarily. Monitor your benefits and secure your accounts through trusted cybersecurity measures. Be wary of offers promising high, risk-free returns, and take time to make investment decisions. Resources Mentioned Federal Trade Commission Fraud Data Learn about common scams and tips on how to avoid fraud at ftc.gov. Investor.gov Check out this trustworthy resource for avoiding retirement and investment scams. ssa.gov Security Features Protect your Social Security with tools and resources on the official website at ssa.gov. Key Takeaways Fraudsters often exploit retirees due to perceived vulnerabilities—stay skeptical, especially of unsolicited calls or emails. Scams targeting tech support, Social Security, and investment funds are common; question high-pressure sales tactics and ensure legitimacy. Always investigate the credibility of "offers" and rely on licensed professionals or verified government agencies when engaging with your financial details. Stay Connected: Subscribe for updates and new episodes every week! Got a question? Email us at info@srbadvisors.com Don't Forget to Share the Love! If you enjoyed this episode, please leave us a review or share it with your friends. The best conversations happen around the table—yours or ours! If you're worried about keeping your retirement savings secure, or you've encountered a questionable offer, don't hesitate to reach out to us at Shotwell Rutter Baer. We're here to help you protect what you've worked hard for. Get in touch with us or visit our website to schedule a consultation at srbadvisors.com.

We read the news so you don't have to! Welcome to The Kitchen Table Finance Podcast, the show where we explore the big questions, trends, and stories shaping our lives. Today, we're diving into the key retirement headlines from November. Retirement isn't just about money—it's a major life transition, and this month's stories highlight the emotional, social, and financial challenges that come with it. We'll cover: The identity shift of leaving work behind—Who will you be without your job? Americans are deeply tied to their work identities, and we'll explore strategies like “identity bridging” to navigate this transition. The pitfalls of poor planning—From underestimating healthcare costs to taking Social Security too early, we'll review common mistakes retirees make and how to avoid them. Long-term care fears—With only a fraction of retirees covered by LTC insurance, we'll discuss innovative solutions like the “4th bucket” strategy and what to do if you're unprepared. Finding purpose after retirement—Whether it's hobbies, social connections, or even continuing to work, we'll look at how to stay fulfilled and avoid the dreaded mid-retirement slump. And of course, we'll dig into a cautionary tale of retirees falling for high-risk investments, showing why financial literacy is more important than ever. Retirement is about more than leaving work—it's about reimagining your life. Let's dive into these stories and uncover what it takes to retire without regrets. https://youtu.be/wvhLx5FNQFE The Headlines We Discuss in This Episode Harvard prof who spent 10 years studying retirees: How to ensure a ‘smooth transition into a satisfying retirement life' Important to ask yourself  Who will I be without my work? Americans tend to identify closely with their work What to do if you can't fully answer the question Ask yourself, Would I be more likely to say that my work is what I do or my work is who I am?” List core self-identities as they are currently and how you want them to be “identity bridging” This retiree accepted an investment broker's invite for dinner at Ruth's Chris — the decision cost him $158K A story as old as time? While investors like Wilson earned a whopping 9% monthly return, brokers were earning up to 8% in commissions from GWG. Planning Your Retirement: What Not To Do Underestimating health care costs - LTC Overspending Taking Social Security benefits too early Miscalculating your RMD Worried About Long-Term-Care Expenses? Let's Do Something About It. Worrying about a potential LTC need keeps retirees from maximizing spending or making gifts to loved ones or charities 59% say they are concerned about running out of money to pay for LTC - AARP #2 on the list of retirement worries according to the Society of Actuaries Only $7Mil out of 75 mil over age 60 are covered by LTC Insurance 4th bucket as a strategy to solve LTC How much to put in - Genworth LTC study, age of needing care average (81) What types of investments to use: based on the age of likely use as a starting point Where to hold the funds (IRA, ROTH, after-tax) Back-up plan Reverse mortgage Retire Without Regrets Huge life transition Irene age 64 technical writer shifted easily and wished she'd left earlier Lawrence struggled after a few months and ended up in rehab Retirement is a transition that involves several key phases: making the decision to stop working; detaching from work; experimenting with new relationships, activities, and social groups; and establishing a new, reasonably stable life structure Research found satisfied retirees demonstrate four key behaviors through the phases of the four A's Alignment between self and life structure your central identities, needs, values, preferences, motivations, personality dispositions, and even health

Welcome to the Kitchen Table Finance Podcast! Get ready to tackle 2025 with confidence! This episode dives deep into five key insights every retirement investor must know to stay ahead of the curve. From understanding market trends to making sense of rate cuts and stock valuations, we arm you with the knowledge you need to make smarter investment decisions. Join us as we recap the surprises of 2024 and use data-driven strategies to forecast what 2025 might hold for investors like you. https://youtu.be/aHu7sQs7yFA What You'll Learn in This Episode: The Recap of 2024: Analyzing last year's surprising economic performance and how it helped steer clear of the predicted "hard landing" recession. The Power of Diversification: Why being selective with your investments matters in a market driven by expensive valuations. Fed Rate Cuts & Inflation Insights: What does the easing of rates in 2025 mean for bondholders, and how should this influence your strategy? Political Policies & Market Dynamics: How a pro-growth government post-election may affect the investment landscape. Long-Term Return Strategies: Understanding price-to-earnings ratios and how to prepare for moderated but positive returns. Quotable Moments: "Excessive worry can lead retirees to make poor decisions that don't serve their long-term interests." "The stock market's successful years are exciting, but they come with essential lessons about evaluation and future returns." "Being diversified isn't just about the upside—it also protects you on the downside." Call to Action: If you're ready to start planning your retirement investments for 2025 or simply want to learn how to fine-tune your portfolio, don't miss this insightful episode! Tune in now to stay enlightened and empowered—and don't forget to subscribe for future updates and episodes! We'd love to hear from YOU! Leave a comment or share your thoughts on how you're preparing for 2025. Looking for financial guidance? Contact us anytime—we're here to help you make every dollar count. Visit us at Shotwell Rutter Baer to learn more about our straightforward, practical financial planning services! Whether you're years away from retiring or about to cut that cake at the office, we're here to help you build your dream future. Stay Connected: Subscribe for updates and new episodes every week! Got a question? Email us at info@srbadvisors.com Don't Forget to Share the Love! If you enjoyed this episode, please leave us a review or share it with your friends. The best conversations happen around the table—yours or ours! Shotwell Rutter Baer | Financial Advice for Real Life | Your fiduciary partner in retirement success.

This Thanksgiving-themed episode dives into the powerful role gratitude plays in retirement planning. Hosts Nick Nauta and Cole Williams discuss everything from practicing gratitude in financial planning to historical perspectives on retirement. Plus, hear their personal stories of thankfulness and why focusing on the positives can shape a healthier, more intentional retirement. https://youtu.be/EVtiTnnkNtQ Key Topics Covered: The Power of Gratitude: Research-backed benefits of gratitude practices, include improved well-being, sleep, lower cortisol levels, and reduced envy and resentment. How gratitude ties into mental health and financial stress, which affects 72% of Americans according to the APA. Applying Gratitude to Retirement Planning: Noticing positives in your retirement savings, such as investment gains and financial milestones achieved. Acknowledging the privilege of planning for retirement, a concept that didn't widely exist 100 years ago. Shifting Focus to What Really Matters: Tailoring plans to reflect personal values and priorities rather than comparing your retirement lifestyle to others. Reducing the tendency to compare yourself to others—what you want may not align with someone else's lifestyle, and social media often misrepresents reality. Living in the Present: Using gratitude as a tool to encourage “being in the moment” rather than worrying excessively about future market volatility or hypothetical risks. Enjoying the process of retirement planning as a reflection of your biggest life priorities. Personal Stories of Gratitude: Hosts share what they're thankful for this year, including good health, healing injuries, and family. The reminder that even small things—like returning to a beloved activity like snowboarding—can foster gratitude. Quotes from the Episode: “Gratitude doesn't just change your perspective—it changes your financial health. It helps you focus on what really matters rather than obsessing over what could go wrong.” “Retirement planning is, at its core, not just about dollars and cents—it's about figuring out what YOU value and designing your future around that.” “We live in a time and place where you can save enough to take the last 30 years of your life off from work. That's a privilege almost unheard of in history.” Studies Mentioned: A 2003 study from Psychological Science shows gratitude improves well-being and sleep quality, and reduces negative emotions like envy. A 2009 study showing gratitude reduces cortisol levels, helping with stress and anxiety. Takeaways & Action Items: Start incorporating a gratitude practice into your retirement planning. Focus on the positives in your financial achievements and avoid falling into the comparison trap. Be thankful for every small milestone in your financial plan and design it around what genuinely matters to you. Speak to a financial planner for guidance in aligning your goals with your values while practicing gratitude. Call to Action: Have gratitude—or questions—about your retirement plan? Reach out to us today to learn how we can make your retirement planning process more rewarding.

What does Warren Buffett's latest financial move mean for your retirement portfolio? This week, we're unpacking the headlines surrounding Buffett's portfolio adjustments. With $365 billion in cash at Berkshire Hathaway's disposal, Buffett's strategy has sparked speculation. Is he gearing up for a financial crisis, or simply staying true to his principles as a value investor? We'll explore Buffett's recent stock sales (including major holdings like Apple and Bank of America), his cautious approach to the current high market valuations, and the role of bonds in his portfolio. Most importantly, we'll answer what it all means for everyday investors managing their own portfolios, especially those nearing or in retirement. This insightful episode will help you put Buffett's moves into perspective and guide you on how to approach your own portfolio allocation with confidence. The article we reference from The Wall Street Journal: Does Warren Buffett Know Something That We Don't? https://youtu.be/sAoPeC_CJ34 What You'll Learn in This Episode Why Warren Buffett keeps increasing cash reserves in Berkshire Hathaway and what it signals. How high market valuations and rising interest rates impact his decision-making. The difference between Buffett's strategies and what works for individual retiree portfolios. Factors like age, market psychology, and tax considerations that may influence Buffett's moves. How bonds fit into Warren Buffett's and everyday investors' strategies. What valuable lessons we can (and can't) take from Buffett's playbook? Key Takeaways Buffett's cash-heavy position may not indicate an impending financial crisis but rather a lack of undervalued opportunities in today's high-priced market. Individuals shouldn't model their retirement strategy directly after Buffett—he's playing on a different field without personal income needs. Bonds are becoming a more attractive option for conservative investors in a rising interest rate environment. Managing your expectations for market performance in the next few years is crucial, especially as valuations remain high. Quotes from the Episode "If you're sitting on $365 billion in cash, that's not just caution—it's strategy in action." "Buffett's moves may look like a macroeconomic signal, but for individuals, it's about remembering your goals, time horizon, and risk tolerance." "At 94, Buffett's approach includes more than valuation—it reflects life stage and legacy planning, factors every retiree should consider in their own way." Want to Learn More? If you're wondering how to adjust your portfolio without the stress of second-guessing market moves, we're here to help. Schedule a free consultation with one of our advisors today to create a strategy tailored to you and your unique goals. Click here to book your free consultation now! Connect with Us Have a question? Call us at 517-321-4832 or email info@srbadvisors.com. Subscribe and leave a review if you enjoyed this episode. Your feedback helps us bring more insightful content to listeners like you! About Shotwell Rutter Baer Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. This means that we are only compensated by our clients for our knowledge and guidance — not from commissions by selling financial products. Our only motivation is to help you achieve financial freedom and peace of mind. By structuring our business this way we believe that many of the conflicts of interest that plague the financial services industry are eliminated. We work for our clients, period. Click here to learn about the Strategic Reliable Blueprint, our financial plan process for your future. Call us at 517-321-4832 for financial and retirement investing advice.

In this episode, we explore the potential impact of recent political developments on retirement planning and market trends over the next four years. With Dave on vacation, Cole Williams, our associate advisor, steps in to discuss the implications of the presidential election and the upcoming sunset of the Tax Cuts and Jobs Act. We also touch on tariffs and their potential economic ramifications. https://youtu.be/GGUpKS18eOs Key Topics Covered Impact of the Presidential Election The role of the election in determining tax policies. Analysis of the Tax Cuts and Jobs Act, set to sunset in 2026. Examination of political gridlock and its implications for tax legislation. The SALT Cap and Tax Deductions Explanation of the $10,000 SALT cap and its effects on taxpayers. Discussion of the Alternative Minimum Tax (AMT) and its relevance. The implications of the higher standard deduction introduced in 2017. Market Reactions and Economic Consequences Positive market response following the election results. Discussion on corporate tax rates and the Qualified Business Income (QBI) deduction for small businesses. Conclusion We encourage our listeners to contact us if they wish to explore the political aspects discussed further. If you have any questions about your retirement planning or investments, please contact Shotwell Rutter Baer. Call us at 517-321-4832 for financial and retirement investing advice. Subscribe and follow us to stay informed about changes and updates regarding tax legislation and market trends to better plan your financial future. About Shotwell Rutter Baer Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. This means that we are only compensated by our clients for our knowledge and guidance — not from commissions by selling financial products. Our only motivation is to help you achieve financial freedom and peace of mind. By structuring our business this way we believe that many of the conflicts of interest that plague the financial services industry are eliminated. We work for our clients, period. Click here to learn about the Strategic Reliable Blueprint, our financial plan process for your future. Call us at 517-321-4832 for financial and retirement investing advice.

We read the news so you don't have to! Welcome to your October roundup of retirement headlines—a month bursting with insights and strategies that could redefine your retirement planning. Whether you're a retiree navigating the nuances of financial security, or an investor seeking to fortify your portfolio against market fluctuations, this month's compilation offers a wealth of information. We've meticulously curated topics ranging from savvy investment options like ETFs to essential cost-of-living adjustments and innovative estate planning strategies. Our goal? To provide you with the tools and knowledge necessary to make informed decisions and bolster your financial well-being in retirement. Let's explore how October's biggest headlines might just be your key to a more secure future. https://youtu.be/VrMpMIACxLk Articles Discussed in this Episode Is This ETF Your Knight in Shining Armor? There is no free lunch Consider opportunity costs Cost-Of-Living Adjustments 2024 - 2.5 Looking at historical COLA this is actually good. Why Anybody Over 18 Should Have an Estate Plan Estate planning can be important at any age Why Everyone Needs a ‘Digital Death-Cleaning' Plan Create a plan for your digital assets Label your files Leave a guide And a farewell? Consider an AI alter ego? Digitize physical memories How Undiagnosed Cognitive Decline Eats Into Seniors' Retirement Savings Since current retirees are living longer than previous generations, they are more likely to suffer memory loss Typically unaware of memory loss Those who experienced a severe memory-loss event over the prior two-year period and were unaware of it saw their wealth decrease by about $31,000 on average. Those who were aware of their memory loss likely avoided large financial hits by delegating decisions to family members or financial advisers or by choosing safer investments, the researchers said. A large percentage of the losses that we measure are coming from stocks,” Peracchi says. “People participating in the stock market often start with high cognitive abilities, so after losing some memory, they may be overconfident in their abilities. They're not aware that they've lost memory, so they're more susceptible to financial losses.” In Retirement, It's Time to Put Our Costs Under the Microscope Update from the Yoders Decided to review credit card transactions and bank debits of the past year Surprised by how many things they found that weren't needed Good idea to start looking at your budget a year before retirement How to find lost or forgotten pensions, 401(k)s, and retirement money One estimate indicates that about 29 million 401(k) accounts remained forgotten in 2023, amounting to nearly $1.65 trillion in unclaimed retirement benefits nationwide, according to a report by Capitalize, How to search US Department of Labor - Abandoned plan search - https://www.askebsa.dol.gov/AbandonedPlanSearch/ Unclaimed property search by state - MI https://unclaimedproperty.michigan.gov/ Pension Benefit Guaranty Corp - find unclaimed pension benefits - https://www.pbgc.gov/wr/find-unclaimed-retirement-benefits Pension Rights Center - Nonprofit - www.pensionhelp.org Washington State Voters Keep Public Long-Term Care Insurance Washington State's Public LTC was on the ballot and easily voted to reject a ballot initiative that would have killed the law First of its kind of law that provides $36,500 in LTC benefits to all residents funded through a payroll tax surcharge of .58. Other states are looking at similar laws California, Illinois, Minnesota & Massachusetts 5 Financial To-Dos Before the End of 2024 Rebalance Take RMD Contribute to employer plans Review insurance Consider charitable donations Conclusion October's retirement headlines have underscored the evolving landscape of f...

Join us for an insightful conversation with Shane Topping, a senior at Michigan State University and an intern at Shotwell Rutter Baer (SRB). In this episode, we explore the unique experience of interning at a financial advisory firm, the lessons learned from working in a smaller team environment, and the importance of adaptability and innovation in financial services. https://youtu.be/IqmAv4PBTdg Key Discussion Points Internship Experience: Shane shares how he discovered the internship opportunity at SRB. The benefits of interning at a smaller firm, such as the ability to pivot quickly and be involved in decision-making processes. Financial Advice for Young Professionals: Discussion on financial planning post-graduation. Shane's insights on the power of compounding and starting investments early. Balancing investment with life goals like buying a house or further education. Technological Advancements in Finance: The advantage of smaller firms in adopting new technologies. Shane has experience with AI and tech discussions at industry events. Guest Spotlight Shane Topping: Background in finance and wealth management. Plans to continue growing in the financial advisory field post-internship. Conclusion Takeaways: The importance of being adaptable and open to new technologies. Encouragement for young professionals to find a balance between immediate life goals and long-term financial planning. If you enjoyed this episode, please subscribe and leave a review! Connect with us on social media for more insights and behind-the-scenes content. Tune in for an engaging discussion that blends real-world financial insights with personal growth and career development tips for aspiring financial professionals. About Shotwell Rutter Baer Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. This means that we are only compensated by our clients for our knowledge and guidance — not from commissions by selling financial products. Our only motivation is to help you achieve financial freedom and peace of mind. By structuring our business this way we believe that many of the conflicts of interest that plague the financial services industry are eliminated. We work for our clients, period. Click here to learn about the Strategic Reliable Blueprint, our financial plan process for your future. Call us at 517-321-4832 for financial and retirement investing advice.

In this thought-provoking episode, we explore the intriguing concept laid out in Bill Perkins' book "Die With Zero," which challenges traditional notions of retirement savings and spending. Join us as we discuss whether you should aim to spend your money before you die, and the mindset shift required to turn your savings into lifelong enjoyment. https://youtu.be/HiUaq15G_XE Key Topics Discussed: Mindset Shift: We examine the prevalent industry focus on accumulating a large retirement fund and the challenges retirees face in spending that money to truly enjoy life. Advisors' Dilemma: Discover why Perkins' book resonates with financial advisors who often encounter clients more concerned with spending their savings than making them last. Experiences Over Savings: Delve into the book's argument that memorable experiences early in life offer greater value, akin to investments paying dividends over time. Addressing Common Objections: Explore concerns about outliving your money and providing for your children or charities, and how Perkins suggests balancing prudence with enjoyment. Knowing Yourself: It is important to understand your financial motivations, whether it's giving money to children or supporting charities. Memorable Quotes: "What makes you a good saver and planner might make you a lousy retiree." "Your life is the sum total of your memories." Call to Action: If you're pondering the balance between saving and spending in retirement or considering how to make the most of your wealth, this episode is for you! Listen in to redefine your approach to money and make informed decisions about your retirement lifestyle. Please share your thoughts and experiences with us in the comments or leave a review on your favorite podcast platform! About Shotwell Rutter Baer Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. This means that we are only compensated by our clients for our knowledge and guidance — not from commissions by selling financial products. Our only motivation is to help you achieve financial freedom and peace of mind. By structuring our business this way we believe that many of the conflicts of interest that plague the financial services industry are eliminated. We work for our clients, period. Click here to learn about the Strategic Reliable Blueprint, our financial plan process for your future. Call us at 517-321-4832 for financial and retirement investing advice.

In this episode, we dive into the key developments in the markets during the third quarter of 2024, along with an update on the current economic environment. Join us as we discuss how stocks surged across the globe, inflation continues to cool, and the Federal Reserve's pivotal decision to lower interest rates in September. Despite a slightly weaker labor market, overall economic indicators remain positive. https://youtu.be/Y2W3rAD7ZD4 Key Takeaways: Stocks have shown strong performance across all major indices, continuing a year-long rally. In response to a cooling labor market and declining inflation, the Fed cut interest rates by 50 basis points in September. Inflation dropped to 2.6% in August, aligning more closely with the Fed's 2% target. While unemployment ticked up slightly to 4.2%, recessionary signals remain muted. Election season and geopolitical uncertainty are causing some investor anxiety. What's Next: Will China's stimulus package be enough to stabilize its economy and bolster confidence in the property market? With parts of the yield curve normalizing, bond investors are starting to see better compensation for long-term risk. As we approach the U.S. election in November, how will political developments influence the markets? For the details and a full explanation of what happened in the third quarter and where the economy sits now, you can read East Bay's full Quarterly Investment Commentary HERE or watch Mario's recorded presentation. About Shotwell Rutter Baer Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. This means that we are only compensated by our clients for our knowledge and guidance — not from commissions by selling financial products. Our only motivation is to help you achieve financial freedom and peace of mind. By structuring our business this way we believe that many of the conflicts of interest that plague the financial services industry are eliminated. We work for our clients, period. Click here to learn about the Strategic Reliable Blueprint, our financial plan process for your future. Call us at 517-321-4832 for financial and retirement investing advice.

In this enlightening episode, we take a deep dive into Dr. Peter Attia's compelling book, Outlive: The Science and Art of Longevity. Join us as we explore the intersection of healthspan and lifespan, unpack Attia's vision of Medicine 2.0 and 3.0, and discuss the four horsemen of chronic disease. All of this ties seamlessly into retirement planning, highlighting how crucial it is to not just live longer, but to live well. https://youtu.be/Bn3dwClgpgw Key Points Covered Understanding Healthspan vs. Lifespan Dr. Attia challenges the traditional focus on lifespan and argues for a shift towards optimizing healthspan. Learn why the balance between these two is critical for living a fulfilling life. Medicine 2.0 vs. Medicine 3.0 Discover the limitations of our current reactive healthcare model (Medicine 2.0) and explore Attia's proactive approach with Medicine 3.0 which emphasizes prevention over cure. The Four Horsemen of Chronic Disease We break down the four major threats to healthspan—coronary disease, diabetes, cancer, and cognitive decline—and discuss strategies to combat them before they become a reality. The Centenarian Decathlon Inspired by Attia's Centenarian Decathlon, we discuss setting long-term health goals that align with your retirement dreams. This segment covers how to remain physically active and independent throughout your golden years. Practical Longevity Strategies Find out how diet, exercise, sleep, and mental well-being form the pillars of Attia's longevity strategy. We provide actionable insights you can implement no matter where you are on your health journey. Call to Action Curious about optimizing your own healthspan? Ready to make proactive changes today for a healthier tomorrow? Grab your copy of Outlive and start taking control of your future. And remember, your health and financial plan are inseparable. Contact us to integrate wellness into your retirement strategy. Additional Resources Link to David's review of Outlive Book a consultation with our experts on retirement planning and health optimization. 517-321-4832 info@srbadvisors.com Connect with Us Don't forget to subscribe and leave a review if you found this episode helpful! Follow us on social media for more insights and updates. Thank you for tuning in, and here's to living not just longer, but better!

We're back with another round of retirement planning headline news reviews. As we like to say, we read the news so you don't have to. Although, maybe you will want to after you hear us talk about them. Our goal is to at least help point you to what we think matters. Below is a list of the articles we discuss in this episode, along with our notes and thoughts about each one. https://youtu.be/40PJLUUJc64 When Interest Rates Go Down, the Hucksters Spring Up Jason Zweig at WSJ runs down a scam These things are out there, people prey on vulnerable folks with misleading info Six Rules for Traveling in Retirement Travel offseason (cheaper, less crowded, less stressful) Choose secondary destinations - same, slower pace, etc. Talk to strangers Focus on a few things Stay at least three nights in each place Be ready to improvise A recession could upend plans for people approaching retirement. Taking these steps can help, experts say Review allocation - risk level correct Consider your sources of income and their security The Crushing Financial Burden of Aging at Home The cost of in-home care is surging In-home workers are hard to find Implications on freedom for spouses etc. A ‘ticking time bomb' could decimate your retirement savings, tax expert says Ed Slot book The single greatest threat to retirement dreams is future taxes Large pre-tax accounts and RMDs Great way to get clicks and sell books, but I wouldn't call it a bomb Is something you should think about and plan for Many advisors take this too far, mostly because it allows them to sell you things. Solving the Mystery of an Investment That's Too Good to Be True Too good to be true, then it probably is Despite regulation, there are still a lot of bad actors and misleading claims The Keys to Aging at Home? Frank Conversations and Financial Planning Surveys show 77% of current retirees want to stay in their homes Making sure that will work requires planning Frank conversations about money and things like inheritance Prepare the home ahead of time Smart home features, lighting, stairs vs. ramps, etc. Financial planning around how to get it done is key 5 Critical Financial Steps to Take Before You Retire What role will work play Social Security Planning Retirement Income Style Stability vs Variability Practice spending before retiring Spendthrift vs Tightwad The last step is to structure your portfolio for retirement Strategic Derisking Cash buckets We dreamed of spending our retirement on epic road trips. After buying an RV backfired, we made a better plan. A couple who went out and bought a Van for road trips. They ended up hating it and now travel on cheap hotel/AirBnbs The moral of the story is rent and try before you buy. Worried about outliving your savings? How to plan your retirement withdrawal strategy in 4 smart steps Rule of thumbs for withdrawals Take your RMDs Withdrawal from taxable accounts Tap into your tax-deferred savings Use your ROTH accounts Factors to consider Current and future tax brackets Retirement goals Market Volatility Don't forget to check out the articles David Shotwell has written for The Street. Find them HERE Conclusion Thanks for tuning in to this episode of Retirement Headlines! Have thoughts or questions about what we discussed? We'd love to hear from you. Send an email to info@srbadvisors.com or call 517-321-4832 Don't forget to subscribe to our YouTube Channel for more insights and personalized advice. Book a call with one of our retirement advisors today to ensure you're on the right track for a secure and enjoyable retirement.   About Shotwell Rutter Baer Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm.

In this episode we explore the latest developments in retirement planning, focusing on the implications of recent Federal Reserve actions and how they affect cash strategies for retirees. Join us as we break down the key points and provide practical advice for navigating these changes. https://youtu.be/u6EUjgp20tM Key Points Covered Interest Rate Changes Federal Reserve Rate Cut: The Federal Reserve has reduced interest rates by half a percent, marking a significant shift after a prolonged period of no rate changes. Understanding the impact of this rate cut on the economy and individual financial strategies is crucial. Market Reactions: The stock market responded positively to the rate cut, indicating investor confidence in the Fed's approach to stimulating the economy. The Fed's intention is to avoid triggering a recession by lowering rates, even at the risk of reigniting inflation. Cash Management Strategies Long-Term Strategy: Despite the rate cut, it's essential not to change your long-term cash strategy based solely on short-term interest rate fluctuations. Cash should be allocated based on spending needs, not temporary interest rate changes. Cash Allocation: Determine the amount of cash you need based on immediate and near-term spending requirements. Maintain an emergency fund and allocate money for any expenses anticipated in the next one to two years. Avoiding Common Pitfalls: Don't chase marginally higher interest rates by frequently moving cash between savings accounts or CDs. Be cautious of reaching for yield and understand the risks associated with higher-yield investments. Economic Insights Neutral Rate: The concept of the neutral rate, where interest rates neither stimulate nor slow down the economy, remains elusive and subject to change. The Federal Reserve's actions are data-dependent, and future rate adjustments will be based on economic indicators. Historical Perspective: Interest rate changes are part of the normal economic cycle, and it's important not to overreact to short-term fluctuations. Historical context helps in understanding current market dynamics and making informed decisions. Practical Advice Investment Caution: Avoid making impulsive investment decisions based on short-term market movements. Maintain a balanced approach to investing, keeping in mind your long-term financial goals and risk tolerance. Emergency Funds: Preserve your emergency fund for unexpected expenses and avoid using it for speculative investments. Conclusion Navigating the complexities of retirement planning and interest rate changes requires a steady hand and a long-term perspective. Always base your financial decisions on solid strategies rather than reacting to market hype. For personalized advice and deeper insights, consider consulting with a financial advisor who can help tailor your retirement plan to your specific needs. Call to Action Don't miss out on future episodes—subscribe to Kitchen Table Finance now to stay updated on the latest financial insights and strategies. For more in-depth guidance, book a consultation with our expert advisors today. Feel free to shoot us an email at info@srbadvisors.com

In this episode, we tackle the alarming rise of investment fraud targeting retirees. Cole Willams joins us again to discuss the increasing prevalence of scams, driven by economic hardships and advanced AI technologies, and offer practical advice on protecting your finances from fraudulent schemes. https://youtu.be/YYx4DuWWkBg Key Points Covered Introduction to Investment Fraud The Internet age has brought numerous types of scams and fraud. Retirees are targeted more frequently than other demographics. The importance of discussing these issues to prevent financial loss. Common types of fraud include: Cryptocurrency Foreign exchange Guaranteed buyback Precious metals Commodities trading Real estate Current Fraud Statistics A recent Federal Trade Commission report shows 2.6 million fraud reports with $10 billion in reported losses in 2023. Economic hardships and advancements in AI contribute to the rise in fraud cases. AI's Role in Modern Scams AI tools like ChatGPT can generate convincing scam scripts, eliminating the telltale signs of broken English. AI can also create realistic fake voices, making phone scams more convincing. Example of Google AI's ability to conduct natural conversations, highlighting the new risks. Political Donation Fraud Scammers use AI to impersonate well-known political figures, such as President Trump, to solicit donations. Tips to avoid fraud: verify legitimacy by calling official numbers or donating through trusted channels. General Scammer Tactics Pressure tactics: creating a sense of urgency to act immediately. Emotional manipulation to get victims to act against their better judgment. Importance of recognizing these tactics to avoid falling victim. Identifying Common Scams Scams often involve threats of legal trouble or promises of prizes that require immediate action. Legitimate organizations will never pressure you to act within a short timeframe. The Scale of Modern Scamming Scamming has evolved into a multi-billion dollar global industry, with organized call centers and advanced technology. Understanding the organized nature of these operations can help potential victims stay vigilant. Why Retirees are Targeted Older individuals are often seen as easier targets due to cognitive decline and greater wealth. Younger people are also falling victim, indicating that fraud is a risk for all age groups. Tips for Protecting Yourself Be cautious of unsolicited calls and emails. Verify information by calling official numbers. Avoid sharing personal information with unknown callers or online sources. Check credentials Brokercheck.finra.org Adviserinfo.sec.gov Look for transparency Take your time Get a reality check Know your limitations Resources 5 Ways to Prevent Elder Financial Exploitation Americans Reported Losing a Record $10 Billion to Scams and Fraud in 2023 Thinking Ahead Roadmap Organization AARP Scam Map Conclusion Investment fraud is a growing concern, especially for retirees. By understanding the tactics used by scammers and staying vigilant, you can protect your hard-earned savings. For more detailed advice and personalized guidance, consider consulting with a financial planner. Stay informed and protect your investments. Subscribe to our podcast for more tips on safeguarding your financial future. If you have any questions or need assistance, don't hesitate to reach out to our team of experts. 517-321-4832 info@srbadvisors.com Thank You for Listening! Don't forget to subscribe, rate, and review our podcast on your favorite platform. Your support helps us reach more listeners and provide valuable information to protect your financial well-being. Check out our YouTube Channel HERE

In this episode, we tackle the complex world of student loans and how to help your kids make informed decisions about their educational financing. From the intricacies of different loan types to the pressing issue of loan forgiveness, join us as we break down what every parent and student should know. Cole Williams, our newest associate advisor joins Nick to lend his unique perspective. https://youtu.be/zBYZcoSJ2D4 Introduction Newsworthy Topic: Student loans have been a hot topic due to discussions around loan forgiveness. The Supreme Court's involvement has added a layer of complexity. Relevance to Financial Planning: Many parents juggle retirement planning with their children's education expenses. Student loans are a significant part of financial planning for families. Types of Student Loans Subsidized Loans: Interest payments are covered while the student is in school if certain criteria are met (GPA, credits). Unsubsidized Loans: Interest accrues while the student is in school, making them less favorable. Parent PLUS Loans: Parents are the primary party responsible for repayment—not just co-signers. Private Loans: Options like SOFI, often used for graduate school, but come with different terms and interest rates. Student Loan Strategy Debt-to-Income Ratio: Aim for student loan debt to be less than or equal to the average starting salary of the chosen career field. Long-Term Implications: Consider future income and career stability when taking out loans. Be cautious of accumulating too much debt, as it may not be sustainable over a long period. Loan Forgiveness and Repayment Plans Income-Driven Repayment Plans: Payments based on income, with potential for forgiveness after 20-25 years of consistent payments. Public Service Loan Forgiveness (PSLF): Forgiveness after 10 years (120 qualifying payments) for those working in public service or non-profits. SAVE Plan: A newer plan in the news, based on paying 5% of income, with remaining debt forgiven after 10 years if under specified repayment thresholds. The Reality of Loan Forgiveness Uncertainty: Legal and political factors can affect eligibility and timelines for loan forgiveness programs. Commitment: Importance of a solid plan for consistent payments and understanding the long-term commitment. Practical Advice for Parents and Students Early Planning: Discuss financial implications before committing to loans. Aim to keep debt manageable relative to expected income. Avoid Bankruptcy Misconceptions: Student loans are generally not dischargeable through bankruptcy. Refinancing Options: Refinancing can offer better rates but comes with different terms and conditions. Conclusion Understanding student loans is crucial for both parents and students. With the right information and planning, you can make informed decisions that won't burden you financially in the long run. Stay tuned for more insights and expert advice on managing your finances. Contact Us! Are you looking for solid retirement planning advice? Reach out to Dave and Nick, hosts of the Kitchen Table Finance Podcast and certified financial advisors. They specialize in navigating unique benefit plans and can help you capitalize on all opportunities available through your investments. Find out if you're getting everything you could be with your financial plan. info@srbadvisors.com or call 517-321-4832 Feel free to share this episode with anyone who might benefit from our discussion. Don't forget to subscribe to the Kitchen Table Finance Podcast for more tips and strategies on financial planning! Thank you for tuning in!

Welcome back to another installment of Retirement Headlines with your hosts, Dave and Nick! In this episode, we provide an overview of the articles we've been reading, offering insights to help listeners understand what's happening in the retirement landscape. https://youtu.be/YD9N_G8JGos 1. Wall Street Journal Article on Umbrella Insurance Overview: Insurance coverage is changing, particularly with umbrella insurance. Key Points: Umbrella insurance is personal liability insurance that covers beyond your auto and home insurance. Inflation has increased the size of claims, making umbrella insurance more necessary. Premiums for umbrella policies are rising due to increased claims. Example discussed: $250,000 liability coverage on auto insurance is often insufficient. 2. Yoters' Series on Retirement Health Overview: The Yoters, former financial writers, are documenting their retirement. Key Points: Focus on maintaining health during retirement. Discussion about the book "Outlive" by Peter Attia. Importance of preventing long-term health issues to enjoy retirement. The concept of "The Lost Decade" where health issues can diminish the quality of life. 3. Retirement Savings Rule Changes Overview: Changes to retirement savings rules as reported by the Wall Street Journal. Key Points: New rules affecting Roth contributions and required minimum distributions (RMDs). Penalties for missed RMDs will be reduced from 50% to 10%. Discussion on whether this change will lead to stricter enforcement of penalties. 4. The Resurgence of the 60/40 Portfolio Overview: According to Morningstar, the 60/40 portfolio is making a comeback. Key Points: Despite market fluctuations, the balanced 60/40 portfolio (60% stocks, 40% bonds) remains effective. Historical context and recent performance validating the portfolio strategy. Importance of sticking to tried-and-true investment principles. 5. 60/40 Portfolio and the 4% Withdrawal Rate Overview: Examination of the sustainability of the 60/40 portfolio with a 4% withdrawal rate. Key Points: Wall Street Journal article discusses potential risks. Discussion on market conditions and investor behavior. Importance of flexibility and adaptability in retirement planning. Additional Articles Discussed in this Episode Why Retirees and Investors Approaching Retirement Should Reduce Risk Today Shopping for a used car? Why now may be the time to buy. How to Plan for Retirement if You're Behind on Saving in Middle Age How to Predict a Recession Why Investors Missed Out on 15% of Total Fund Returns A Time-Honored Strategy Puts Your Retirement at Risk of Financial Ruin Conclusion Thanks for tuning in to this episode of Retirement Headlines! Have thoughts or questions about what we discussed? We'd love to hear from you. Send an email to info@srbadvisors.com or call 517-321-4832 Don't forget to subscribe to our YouTube Channel for more insights and personalized advice. Book a call with one of our retirement advisors today to ensure you're on the right track for a secure and enjoyable retirement.

Introduction Welcome to another episode of the Kitchen Table Finance Podcast! In this episode, Dave and Nick are joined by our newest associate advisor, Cole Williams. Today, we're diving deep into making smart housing decisions during retirement—a topic that's crucial for anyone looking to secure their financial future. https://youtu.be/xOidCd80wm4 Key Points Covered: 1. Current and Historical Housing Market Overview Comparison of current interest rates with those from the 70s and 80s. Analysis of consumer sentiment on whether it's a good time to buy a house, contrasting the 1980s and today. Discussion on the affordability and availability of homes now versus the past. 2. Interest Rates and Inventory Issues Examination of why current higher interest rates still fall within historical norms. The significant inventory problem today is due to fewer new builds and low homeowner mobility. 3. Economic Impact on Retirement How the Baby Boomer generation's housing decisions have influenced personal finances. The ongoing debate on whether owning a home remains the bedrock of wealth. 4. Renting vs. Buying in the Current Market Comparison of average costs between renting and buying. The hidden costs of homeownership versus renting. The potential financial advantages of renting and reallocating savings. 5. Market Dynamics and Investment Trends The rise of short-term rentals through platforms like Airbnb and VRBO. Impact of large investment banks and hedge funds entering the real estate market. Political and economic factors influencing housing market trends. 6. Advice for Retirees Practical advice for retirees considering downsizing or relocating. How to capitalize on the current market to maximize financial gains from homeownership. Conclusion Making informed housing decisions in retirement can significantly impact your financial health. Whether you're considering buying, selling, or renting, understanding the market dynamics and economic factors at play is essential. Call to Action Do you work for Michigan State University? Are you looking for solid retirement planning advice? Reach out to Dave and Nick, hosts of the Kitchen Table Finance podcast and certified financial advisors. They specialize in the unique benefit plans offered by MSU and how to capitalize on all you have available to you through your investments. Contact Shotwell Rutter Bear Financial Planners at SRBAdvisors.com, or simply search for the Kitchen Table Finance Podcasts wherever you get your podcasts. Stay tuned for more insightful discussions, and don't forget to subscribe to our podcast for future episodes! Episode Resources: National Association of Realtors Redfin Housing Market Data Bankrate Mortgage Rates

Welcome to another episode of Kitchen Table Finance! Today, we have a very special guest, Scott de Varona, Division Director at MiABLE 529(a) Disability Savings Program & Student Loan Repayment Division. We discuss the groundbreaking MiABLE 529 disability savings program. If you're curious about how this program can help individuals with disabilities achieve a better life experience, you're in for a treat. https://youtu.be/jM0Q1zol3n4?si=hMHWvJzFJ23s-IAS Key Points Covered What is ABLE? ABLE stands for Achieving a Better Life Experience Modeled after the 529 education savings program but focused on disability savings According to their website, "ABLE is about Connecting People with Disabilities, their families, and those who support them to information about the Achieving a Better Life Experience (ABLE) Act and ABLE accounts. Our mission is to educate, promote, and support the positive impact ABLE can make on the lives of millions of Americans with disabilities and their families." Check out Michigan plan information here. https://youtu.be/K2KnCTw_mRw Scott's Journey: Background in Medicaid and how it led him to ABLE Initial challenges and steps in setting up the ABLE program The Importance of Awareness Common Misconceptions: Lack of awareness in the disability community Challenges in marketing to this unique population Building Trust: Partnering with service organizations and advocacy groups Joint presentations with ISDs and other credible sources Stephen Beck Jr. and the Origin of ABLE Accounts Personal Story Stephen Beck Jr.'s advocacy for his daughter with Down syndrome Creation of the ABLE account to allow savings without losing benefits Functionality and Benefits of ABLE Accounts Ease of Setup: Simple online setup via https://www.ablenrc.org/ Key Advantages: Savings not counting against the $2,000 asset limit for benefit eligibility Various allowable expenses, from housing to transportation Contribution Limits: Up to $18,000 per year (subject to IRS changes) Wide Range of Uses: Education, housing, transportation, medical expenses, and more Why ABLE Accounts Matter Empowerment: Providing financial independence to individuals with disabilities and encouraging smart financial decisions without penalty Conclusion This episode sheds light on how ABLE is revolutionizing financial planning for individuals with disabilities. Scott de Varona's insights make it clear that ABLE accounts are a game-changer, offering a better life experience through financial empowerment. Ready to learn more? Visit MiABLE to explore how you or a loved one can benefit from an ABLE account. Don't forget to subscribe to our podcast for more expert insights and inspiring stories! Connect with Us Follow Kitchen Table Finance on YouTube Email us your questions and feedback at info@srbadvisors.com Guest Information Scott de Varona, Executive Director at ABLE Mission: Encourage and assist the saving of private funds to help persons with disabilities cover costs that support their health, independence, and quality of life. Website LinkedIn Thank you for tuning in! If you enjoyed this episode, please leave us a review and share it with your network.  

Join Dave and Nick as they explore strategies to manage market volatility during retirement. Drawing on behavioral finance principles, they provide practical advice to help you stay the course in turbulent times. Key Topics Discussed Market Volatility: The episode begins by discussing recent shifts in market sentiment, highlighting a 6.5% drop in the S&P 500. The hosts explain how quickly investor attitudes can change and the role media plays in amplifying these emotions. Retirement Preparedness: Understanding how to cope with market fluctuations is crucial for those approaching or in retirement. Dave and Nick discuss the importance of long-term planning and keeping a focused eye on retirement goals despite short-term market movements. Behavioral Finance: Behavioral finance offers insights into why we react emotionally to market changes. The hosts recommend "The Hour Between Wolf and Dog," a book exploring the science behind our physiological responses. Episode Highlights Coping with Volatility: Volatility is an unavoidable part of financial markets, akin to birthday celebrations—they happen regularly. Dave and Nick stress the importance of preparing for emotional responses during market downturns. The Role of the Media: The hosts caution against overreacting to sensationalized news headlines, which often focus on worst-case scenarios. Instead, they advise taking a step back to assess the bigger picture and maintain a long-term investment mindset. Reality Testing and Diversification: By revisiting financial plans and maintaining diverse portfolios, investors can better manage anxiety and avoid panic-driven decisions. Dave and Nick remind listeners that not all investments are affected equally by market changes. Economic Perspectives: The episode concludes with a discussion on broader economic impacts, reminding listeners that financial markets are rarely zero-sum games. Even in times of uncertainty, there are always opportunities to be found. Resources The Hour Between Dog and Wolf: How Risk Taking Transforms Us, Body and Mind by John Coates The Power of Investing During Down Markets by David Shotwell Market Volatility Survival Guide   Do you have investment or retirement questions? We'd love to chat with you. Please send an email to info@srbadvisors.com or call 517-321-4832. Do you work for MSU? Are you affiliated with Michigan State University and seeking expert retirement planning advice? Reach out to Dave and Nick, your hosts and certified financial advisors. They specialize in benefit plans tailored to your unique situation. For more insights and practical advice on navigating retirement with confidence, subscribe to the Kitchen Table Finance podcast and join our community of informed investors!

Welcome back to our much-anticipated June 2024 edition of “Retirement Planning Headlines,” where we save you the hassle of combing through endless financial articles. Sometimes even our listeners chime in with topics for our deep-dive discussions. https://youtu.be/v182Ah4aRPA Articles Discussed in this Episode Lessons From Another ‘Faux-tirement' Christine Benz on using her sabbatical six weeks to see what retirement might be like The Money Habits I Learned From My Parents—for Better or Worse Learning by watching Unlearning some lessons "Money Scripts" - Klontz Quiet Compounding Stories of a country bumpkin with no education and a low-wage job to save tens of millions Their entire financial universe was contained to the walls of their home, which allowed them to play their own game and be guided by nothing other than their own goals. That was their superpower. It was their only financial skill, but it's the most powerful one of all. People become so nervous about what other people think of their lifestyle and investing decisions that they end up doing two things: Performing for others and copying a strategy that might work for someone else but isn't right for you. Two ways to use money. Tool to live a better life The yardstick of success is to measure yourself against other people What does quit compounding mean? Emphasis on internal vs. external benchmarks Acceptance of how different people are, and a realization that what works for me might not work for you and vice versa A focus on independence over social dunking Focus on long-term endurance over short-term comparison Don't Be a Victim: Financial Abuse of Seniors - How to Spot Scams & Protect Yourself From Sandy Adams, whom we know from Michigan FPA Good guidelines for seniors A Bucket List for Our Retirement? No Thanks I Would rather revisit places I have already been and reconnect with people I knew long ago Will You Need Permission to Spend in Retirement? Consider an annuity Research from David Blanchett and Michael Finke suggests that retirees who hold a higher percentage of their wealth in guaranteed income spend more than retirees whose wealth consists of non annuitized assets Tilt portfolio toward current income production Tie portfolio withdrawals to portfolio performance Plan for spending to trend down Ask an Advisor to Dole it Out Tightwads and spendthrifts: An interdisciplinary review Everyone experiences the pain of paying People who don't experience enough pain- Spendthrifts People who experience too much pain - tightwads Neither are happy with how they handle money Here's the deflation breakdown for June 2024 — in one chart Conclusion Have you come across any articles you have questions about or would like to hear us discuss? Send them our way at info@srbadvisors.com Remember to subscribe and follow our podcast for monthly updates packed with practical advice to guide you through your financial future with clarity and confidence. Stay tuned and stay informed!  

In this episode, we take a deep dive into the world of target date funds—a topic we've touched on before but never explored in-depth. Inspired by a recent article that sparked some frustration, we discuss the pros and cons of these investment tools. https://youtu.be/SY1rkeJxeK0 Here are the main points we cover: Overview of Target Date Funds: Target date funds are investment tools designed to optimize your retirement savings by automatically adjusting the asset allocation as you approach your retirement date. What Makes Target Date Funds Special? Personal Choices and Understanding: Just like any other investment, target date funds can be beneficial if used correctly. It's crucial to understand what you're investing in to make the most of these funds. A One-Fund Solution: These funds are designed to be a singular solution for retirement savings, adjusting risk levels as you near retirement. Practical Use Case Real-Life Examples: We discuss how people often choose the wrong target date fund due to misunderstandings about their retirement timeline. The Pros of Target Date Funds Simplicity: One of the standout benefits is the simplicity they offer. You don't have to worry about asset allocation—the fund managers do it for you. Diversification: These funds tend to be highly diversified, covering various asset classes, which can often include assets unavailable in standard 401(k) plans. Cost-Effective: Many target date funds are inexpensive, especially those based on index funds. Automatic Rebalancing: The fund managers take care of rebalancing, ensuring your portfolio remains aligned with your retirement goals. The Cons of Target Date Funds One-Size-Fits-All Approach: While these funds simplify investing, they also operate on a one-size-fits-all basis, which may not suit everyone's individual financial situation. Conclusion While target date funds offer numerous benefits, they are not without their drawbacks. Understanding these can help you make informed decisions about your retirement planning. Additional Resources For more insights into target date funds and how they can fit into your retirement plan, check out this Vanguard guide on target date funds. Feeling overwhelmed with retirement planning? Don't worry, the right target date fund can simplify your path to a comfortable retirement. Tune in to our episode and learn how to make the most out of your investments. And if you liked this episode, don't forget to subscribe, rate, and review us on YouTube Tune in to this episode for expert insights and practical tips to help you on your retirement planning journey. 517-321-4832 info@srbadvisors.com

In this episode, we take an in-depth look at the market trends and economic indicators of Q2 2024, along with our outlook for Q3. We discuss the overall market performance, the impact of tech stocks, bond market stability, and the intriguing dynamics of the international stock market. Additionally, we explore the implications of unemployment rates, inflation, and consumer behavior on the economy. Key Points Discussed Market Overview: The overall market has shown strong performance in 2024 so far. The Russell All Cap Index increased by 3.2% for Q2 and 13.5% for the year. The S&P 500 grew by 4.3% for the year, driven predominantly by tech stocks. Large-cap growth index (tech stocks) surged by 8.3% for Q2 and over 20% for the year. Tech Stocks Dominance: A small subset of tech stocks significantly contributed to market gains. Considerations for diversified portfolios and potential risks if these stocks lose momentum. Bond Market: Aggregate bond index showed slight growth (0.1%) for Q2. Intermediate-term municipal bonds were the only negatively performing segment. Positive yield curve trends signal a more normalized economic outlook. International Stocks: Developed market stocks (mainly European) slightly declined due to a strong dollar. Emerging market stocks showed positive growth (5%) for Q2. Economic Indicators: Unemployment remains low, below 4% for 30 consecutive months, but showed a slight increase to 4.1% in June. GDP continues to grow, signaling a robust economy. Inflation shows signs of easing, with core goods experiencing price drops. Stock Earnings: The top ten S&P 500 stocks continue to deliver strong earnings. Nvidia's performance remains strong, defying expectations. Consumer Behavior: Some concerns over elevated credit card and auto loan delinquencies. Possible depletion of extra consumer savings from COVID-19 relief programs. Positive Market Signals Low unemployment rates. Continued GDP growth. Easing inflation rates. Strong earnings from top stocks. Areas of Concern Potential cracks in consumer spending and elevated debt levels. Inflation is still above the Fed's long-term target of 2%. Conclusion and Outlook While the market has shown remarkable resilience and growth in 2024, the dominance of a small number of tech stocks and potential consumer debt issues warrant cautious optimism. Inflation trends and unemployment rates will be key areas to watch as we move into Q3. Call to Action Stay informed and make data-driven financial decisions. Subscribe to our newsletter for regular updates and deeper insights into the market trends. Feedback We'd love to hear your thoughts on this episode. Drop us a comment or email us at nfo@srbadvisors.com. Follow the Kitchen Table Finance podcast to learn about money and simple ways to invest right now. If you have questions about this or any other topic, please email us at info@srbadvisors.com.

In this insightful episode, we explore the four fundamental principles to consider when planning your retirement investments. We break down the essential steps to ensure your financial security and peace of mind as you approach retirement. You can survive when the market twists and turns and throws you loose and you think that things are coming apart. Watch on YouTube HERE Key Highlights 1. Expect a Balance Between Extremes Key Point: The worst-case and best-case scenarios are equally unlikely. Discussion: It's important to remember that the truth will typically fall somewhere in the middle. Both the world and the markets have faced and survived numerous challenges. Pausing and reflecting on this can help mitigate fear and anxiety about future investments. 2. Tune Out the Noise Key Point: Focus on your long-term plan and ignore short-term market fluctuations. Discussion: When you hear negative news and feel emotional, it's crucial to have a solid foundation of safe investments. This allows you to stay calm and collected about your long-term retirement account despite current events. 3.  Growth Periods Always Outweighed The Bad Times Key Point: Essentially, the average bear market runs about 14 months with 36 % declines, but the average bull market runs almost six years with a cumulative return of almost 200%. Discussion: There are going to be bad times, but also there are some really good times. So don't forget about those because that's what drives the growth. 4. You Can't Avoid Investment Risk and Expect Higher Returns Key Point: The more risk you take with your portfolio the higher we expect your return to be over time. Discussion: You can reduce your risk, you can hold more in cash, and you can mix more bonds into your portfolio, but you've got to expect then that your return will be lower over time. Listener Feedback We encourage our listeners to reach out and share their experiences or questions about retirement investments. Email us at info@srbadvisors.com. Conclusion Planning for retirement can be daunting, but by adhering to these four principles, you'll be well on your way to building a secure financial future. Stay informed, stay calm, and always keep a long-term perspective. Thank you for tuning in! Don't forget to subscribe to our podcast for more expert advice and insights on retirement planning.

Maximizing College Savings with Diane Brewer of Michigan Education Trust Episode Summary In this episode, we sit down with Diane Brewer, the Executive Director of the Michigan Education Trust (MET), to discuss the ins and outs of Michigan's prepaid 529 college savings plan. Diane shares her invaluable insights from over two decades of experience helping families prepare for the financial challenges of higher education. From understanding the benefits of MET and MESP to exploring how these plans can work together, this episode is packed with practical advice for parents, grandparents, and students alike. About Diane Brewer Executive Director, Michigan Education Trust With over 20 years of dedicated service, Diane Brewer has been pivotal in guiding Michigan families through the complexities of college savings. Starting as a presenter and outreach specialist, Diane has helped countless parents and grandparents secure a brighter future for their students with minimal student debt. Key Points and Highlights Understanding MET and MESP: MET is specific to tuition, providing a prepaid option for college tuition. MESP is broader, covering tuition, room and board, books, lab fees, and other college-related expenses. In an ideal scenario, a student would benefit from both MET for tuition and MESP for additional costs. Listen to Diane explain the tax advantages of using Michigan's 529 plans. Scholarship Exceptions: MET funds can be used for purposes other than tuition in the case of a scholarship. Flexibility and Choice: Families have the freedom to choose between MET and MESP based on their budget and preferences. Both MET and MESP offer the same tax benefits, making them valuable tools for college savings. Resources and Support: Access logos and information for MET, MESP, and MAP on their respective websites. Schedule one-on-one meetings with MET and MESP staff for personalized guidance. Most processes can be completed online for convenience. Diane emphasizes the ease of accessing these resources and the importance of staying informed. Call-to-Action Ready to take the next step in securing your child's educational future? Visit the Michigan Education Trust website to learn more about MET, MESP, and MAP. Book a one-on-one meeting with our experts and get started on your college savings journey today! Bookmark the MET and MESP websites to stay up-to-date with the latest resources and updates. Connect with Us Follow us on Facebook and YouTube for the latest updates. Join our community of empowered parents and students navigating the path to college savings together. --- Stay tuned for more dynamic and empowering episodes that make navigating the complexities of college savings a breeze!

In this episode, we explore various strategies to create a steady income stream in retirement, tailored to your unique financial situation and goals. We discuss when to take Social Security and dive into investment strategies that can help you maintain financial stability during your retirement years. Watch on YouTube HERE Key Points Social Security Timing Varied Advice: There is widespread advice online suggesting taking Social Security at 62, but this isn't always the best strategy. Advisor Perspectives: Many advisors recommend waiting longer, often until 70, to maximize benefits. Personal Factors: The decision should consider personal goals, longevity outlook, and risk tolerance. Investment Strategy Asset Allocation: Determine an asset allocation that fits your risk tolerance and generates adequate returns over time. Automated Distributions: Set up automated distributions from retirement funds to cover monthly income gaps. Portfolio Management: Break the portfolio into a dozen or so funds, each with an assigned percentage. Monthly assessments determine which funds are overweighted and should be sold first to generate necessary cash. Contributions from interest and dividends also help create the cash needed for distributions. Highlights Nuanced Decisions: The right timing for Social Security is nuanced and should be personalized. Holistic Planning: Effective retirement planning involves balancing risk with returns and ensuring regular income. Tactical Adjustments: Regularly adjust your portfolio to maintain balance and meet income needs. Ready to secure your financial future in retirement? Explore your personalized investment plan today. Conclusion Creating a reliable income stream in retirement involves more than just following generic advice. By understanding your individual needs and making informed decisions about Social Security timing and investment strategies, you can achieve financial stability and peace of mind in your golden years. Tune in to this episode for expert insights and practical tips to help you on your retirement planning journey. 517-321-4832 info@srbadvisors.com

Welcome back to our much-anticipated May 2024 edition of “Retirement Planning Headlines,” where we save you the hassle of combing through endless financial articles. This month, we've even had listeners chime in with topics for our deep-dive discussions. Watch on YouTube HERE Articles Discussed in this Episode How Much Should You Spend on Vacation? 5-10% of take-home pay on Vacations Never go into debt to pay for vacation Beware of luxury creep and entitlement creep Don't get caught up in Instagram vacations Don't be a vacation scrooge Is planning for age 95 longevity overkill? How long should you plan to live in retirement? The industry practice of planning to 95 but a new report shows most people won't reach this age The report notes that “for the almost 30 percent of the 65-plus population with diabetes, there is less than a one percent chance they will reach 95 a typical 65-year-old man with no chronic conditions, there is only a 19.3 percent chance of living to 95. A 65-year-old with high blood pressure has slimmer odds, with a 17.5 percent chance of living for another 30 years. Plan to 95 and live to 86 could potentially spend an additional $447,000 How to think about planning to 95 Family health history Your health condition Making adjustments along the way Risk profile Legacy goals Retiring Early Is Your Dream. 7 Steps to Make It Come True. Steps to Weigh Early Retirement Decisions Understand the why Play devils advocate Crunch the numbers Plan ahead Social security considerations Factor in healthcare costs Consider part-time work ‘What Was I Thinking?' The Big-Ticket Items People Regret Rolex Vacation home on land not owned RVs Clothing salesman with a $1,800 cover-up The Downside of Delayed Gratification Research shows that if we decide not to use something (delayed gratification) the possession will feel more special Can lead to us not using at all or delaying too long instead of embracing the moment. The big takeaway is that delayed gratification isn't always the answer The kids with the marshmallows! (shout out to Daniel Kahneman!) All the kids that were able to delay gratification DID SOMETHING to distract themselves How Much Happiness Can Your Salary Buy? Researchers Can't Agree Money buys happiness. With diminishing returns. And no magic number Money buys happiness Money matters for happiness, but not enormously It isn't what money buys, but the choices it affords Diminishing returns As income increases, each dollar makes less of a difference in happiness More about % change than $ amount Magic number There is no magic number ($75,000 or $110,000 in today's dollars) Not a refutation of the underlying premise, but it does bring up nuances to the argument ($75k is an oversimplification) Ugh. Do I Really Need a New Roof Right Now? Interesting for the topic, but also the philosophy Roofs can last longer than conventional wisdom, but the range is huge and depends on the environment, how it was installed, etc. The columnist had a roof leak Paid a roof inspector -and was told $2500 for a repair Also got an opinion from a roofing contractor - $18,000 Paying for the inspection was well worth it $2 Million Is Nothing' Suze Orman Warns Don't Retire If You Don't Have At Least $5 Million Or $10 Million Saved What she got wrong Dollar amounts apply differently to different people What she got right Longer retirements mean more things will change so proceed with caution HOW MUCH IS A MEMORY WORTH? How do we value our memories? Can we value them? With the benefit of hindsight, how much would I pay for that same trip knowing how much I value the memories? Memories of experiences tend to increase in value over time - even if the experience doesn't la...

Episode Summary In this episode, we tackle the pressing issue of rising insurance rates with our special guest, Ben Rathbun. Ben is the President and CEO of Rathbun Insurance Agency, an independent agency with over 68 years of history. He brings a wealth of knowledge and experience to help us understand what's happening in the insurance market and why rates are going up. Watch on YouTube HERE Key Discussion Points Introduction to Ben Rathbun and the Rathbun Agency Understanding the current insurance market landscape Key factors driving up insurance rates The role of risk management in insurance Practical tips on how to manage and mitigate insurance costs The importance of educating customers about their insurance policies Guest Speaker Ben Rathbun Ben Rathbun is the President and CEO of Rathbun Insurance Agency. With a legacy that spans over six decades, Rathbun Insurance prides itself on being an education-centric company that helps clients understand and manage their insurance needs. Quotes from the Episode "Everyone has to buy insurance, but who do people buy insurance from? People they like and people who educate them." "We consider ourselves very much an education company that happens to sell insurance." "It's not my job just to sell you a policy. It's also to help you understand your exposure and how to protect yourself." Call to Action If you're looking for advice on managing your insurance in these challenging times, don't miss this episode with Ben Rathbun. Listen now and gain valuable insights on how to protect yourself and your assets. Subscribe to our podcast for more expert insights on managing your finances and staying ahead in the market. Connect with Us Website Instagram: @shotwell_rutter_baer Facebook: @SRBAdvisors LinkedIn YouTube: @shotwellrutterbaer Connect with Ben Rathbun Website LinkedIn Don't forget to leave us a review and share this episode with anyone who might find it helpful. Thank you for listening!

Welcome to another episode of Kitchen Table Finance, where we dive deep into financial strategies to help you make the most out of your retirement. In today's episode, we're tackling a common question: "Should I put everything into CDs or bonds when I retire?" Watch on YouTube Episode Highlights The Common Misconception Many retirees think, "I'm retiring, so I should put everything in CDs or bonds to avoid risk." While CDs and bonds are safer investments, there's a more strategic way to use them in your retirement plan. Proper Use of CDs and Bonds CDs and bonds are indeed useful for retirement, but they should be part of a larger, diversified strategy. We discuss how to balance these safe investments with other asset classes to optimize your retirement portfolio. Understanding Cash Investments Despite being considered straightforward, many people struggle with understanding how CDs, money markets, and cash investments fit into their overall financial picture. We explore how the current high-yield environment for cash investments is an anomaly and how to navigate it. Historical Context Reflecting on how discussions around cash investments have evolved over the past decade. Current opportunities: High-yield savings accounts offering 5% returns and how they impact your decisions. Practical Advice Cash is ideal for contingency funds or planned expenses within the next 12-36 months. Just because you hit retirement doesn't mean you should put all your money into low-risk investments. Long-term retirement income should include a mix of assets to ensure growth and sustainability over 20-30 years or more. Interesting Tidbits Did you know there's a bank offering a 100-year CD? What does that mean for you? Key Takeaways Diversification remains crucial even in retirement; don't put all your eggs in one basket. Utilize CDs and bonds as part of a broader strategy to balance safety and growth. Stay informed about the current market environment and adjust your investments accordingly. Call to Action Enjoying our insights? Make sure to subscribe to our podcast for more valuable tips on managing your finances. Have questions or topics you'd like us to cover? Leave a comment or reach out to us directly—we'd love to hear from you! Connect With Us Follow us on social media to stay updated with our latest episodes and exclusive content. Don't forget to share this episode with friends and family who might find it useful! Tune in next week as we continue to explore effective strategies for a secure and prosperous retirement!

Welcome to another enlightening episode of the Kitchen Table Finance podcast! In this episode, Dave and Nick dive deep into the intricate world of relocating during retirement, examining how recent economic shifts have impacted this significant life decision. Key Discussion Points: Changing Landscape of Real Estate: Nick and Dave discuss how the real estate market has evolved post-pandemic. While interest rates were historically low, they have since risen, creating a unique set of challenges and opportunities for retirees considering relocation. The unexpected resilience of the property market despite rising interest rates, and how this affects decisions around selling and buying homes. Interest Rates and Their Impact: Insights into why some homeowners are hesitant to sell their properties with low-interest mortgages, seeing them as valuable financial assets in the current economic climate. The Wall Street Journal's perspective on low-interest mortgages as strong-performing financial assets. Traditional vs. Modern Retirement Housing Trends: How the conventional approach to retirement—selling a larger family home and downsizing—has become less straightforward in today's economy. The scarcity of smaller, single-story homes suitable for retirees compared to the abundance of large-family homes built over the past two decades. The Double Squeeze: Analysis of the dual pressure on the market for smaller homes: retirees looking to downsize and millennials seeking starter homes. This has led to increased competition and higher prices for such properties. The interplay between an aging population's housing needs and the influx of younger buyers into the market. Financial and Emotional Considerations: Relocating during retirement is not just a financial decision but also an emotional and practical one. The challenges include navigating the housing market and dealing with the stress and logistical aspects of moving. Dave's observation: If relocating during retirement were purely a financial calculus, the decision might often be to stay put. However, the reality involves more nuanced personal and emotional factors. Practical Tips for Prospective Retirees: Nick and Dave share practical advice for those considering relocation in retirement, including how to evaluate the pros and cons, plan for the financial implications, and manage the emotional aspects of such a significant life change. Conclusion If you found this episode valuable and want to explore more about managing your finances during retirement, don't forget to subscribe to our podcast! For personalized advice and insights, join our community by signing up for our newsletter at srbadvisors.com. Stay Connected: Thank you for tuning into the "Kitchen Table Finance" podcast. We're here to help you navigate your journey toward a financially secure and fulfilling retirement. Until next time, stay informed and stay empowered!