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New Retirement Radio with Dennis Prout Podcast

The days of simple retirement planning are gone and those who can manage their own portfolio are choosing not to. Prout Financial Design began over 25 years ago as an education based financial planning practice. Dennis Prout, Certified Financial Planner, believes that each client should not only understand their finances, they should be actively involved in the decisions made. Join the conversation! Dennis' radio show can be heard LIVE every Thursday at 10 am on News Talk 580 am or you can listen here instead. Thanks for tuning in! Advisory Services offered through Capital Asset Advisory Services, a Limited Liability Company, and a Registered Investment Advisor. Prout Financial Design does not provide tax, accounting, or legal services. Please consult the appropriate professional regarding your individual circumstance. Not associated with or endorsed by the Social Security Administration or any other government agency.
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Now displaying: September, 2018
Sep 27, 2018

When I (Shea) was younger, my mom would leave a “to-do” chore list for us kids to complete after school and before she came home from work. As the eldest, I would “delegate” the chores in order to make the list fairer than my mother had. It took a few years for everyone to catch on.  My brother was the first one to figure it out once his reading skills advanced, HA! 

If only understanding your responsibilities as trustees were that easy after our loved ones pass. Well, actually, it can be! You can even delegate some tasks. Ed Slott, IRA expert, created a “to-do” list to help you understand what to do next. According to Forbes, there will be $30 trillion in assets transferred from Baby Boomers to their heirs. Will you know what to do when it’s your turn to inherit?

Sep 21, 2018

A few weeks back, Dennis casually mentioned the pros and cons of saving for college through either a 529 plan or a Roth IRA. Well, we didn’t realize what a hot topic this was until the calls started to come in. In fact, just yesterday, I (Shea) was talking to a parent who has enjoyed funding his son’s college experience with a Roth IRA. I myself started a 529 for my niece when she was born. It’s exciting to think that you can make a difference by funding an investment account on someone else’s behalf. But why did my friend choose a Roth IRA, and why did I choose a 529 plan? How are they the same and yet different? What makes sense for your situation?

Sep 14, 2018

For years you’ve imagined that the money you have, the retirement accounts you've accrued and your properties will go directly to your children and grandchildren. Then, by surprise, another cause captures your attention. It’s a non-profit that beats at the same rate as your own heart.  Like your own children, its mission lights something up inside of you. Not only can you impact your family, you can impact your community for generations to come. There’s only one problem ... you haven’t figured out how to explain the change of plans. Ideally, you’d like to include your children in giving. Is it possible? One advisor thinks so.  Charlie Jordan coined the concept, “Charitable Inheritance” where he sets up Donor-Advised Funds (DAFs) that are set aside for “inheritance dollars” – money earmarked for charity after a client’s death to be administered by the children.  

Not only are we going to discuss what this can look like, we are interviewing Kate Pearson from the Grand Traverse Regional Land Conservancy to discuss what it means to impact generations to come with planned giving.

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