Kitchen Table Finance

David Shotwell CFP(r) and Nick Nauta CFP(r)
  • 5.0 (3)
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  • UPDATED BIWEEKLY

Pull up a chair with David and Nick for warm, real conversations about money, purpose, and building the life you truly want. Focused on clarity and confidence, they help you move from uncertainty to a plan rooted in your values. Whether you’re a lifelong educator, public service professional, or someone preparing for a meaningful retirement, this podcast meets you where you are. But planning is never just about what is going on in the headlines or the markets—it’s about using your resources to live a life with meaning and intention. This show is about financial advice, but so much more than 403(b)’s, pensions, taxes, and retirement. Expect thoughtful conversations, practical strategies, and a welcoming space to reflect on your goals, values, and the kind of legacy you want to create. We want you to stay focused on what matters most: living well and protecting what you’ve built.

  1. 6D AGO

    State of Michigan Retirement Benefits

    Understanding State of Michigan Retirement Benefits: Pension vs. Defined Contribution and Health Care Options If you work for the State of Michigan, your retirement benefits can feel like a maze. Hire dates matter. Plan elections matter. Even health care decisions from years ago still matter today. In this episode of Kitchen Table Finance, Nick and Dave sit down at the table to break it all down in practical, everyday language. We walk through how to figure out what plan you are in, what your options mean, and how to think about retirement income and health care with clarity and confidence. If you have ever looked at your benefits statement and thought, where do I even start, this conversation is for you. Watch the full episode HERE. How to Determine Which Retirement Plan You Are In The first step is understanding your hire date and whether you made any elections when changes were introduced in 1997 and 2011. The three primary categories are: Defined Benefit Pension Plan Defined Contribution with Subsidized Retiree Insurance Defined Contribution with Personal Health Care Fund Nick and Dave walk through how these plans evolved over time and why your employment history determines which system you fall into. When in doubt, the Michigan Office of Retirement Services can confirm your status. Defined Benefit Pension Plan Explained A defined benefit plan provides a lifetime monthly income based on a formula. Your pension is typically calculated using: Final average compensation Pension multiplier Years of service You do not manage investments inside the pension. The State assumes the investment risk, and you receive a steady payment for life. We also discuss spousal election options, how benefits are reduced based on survivor coverage, and how to think through those decisions as part of a broader retirement plan. Defined Contribution Plan Overview A defined contribution plan works more like a 401k. You contribute a percentage of your salary, and the State provides a match. The structure generally includes: 4 percent automatic State contribution 100 percent match on up to 3 percent employee contribution From there, your retirement outcome depends on contributions, investment performance, and distribution strategy. We also cover: Traditional vs. Roth 401k contributions The 457 plan and its early withdrawal flexibility In plan Roth conversions Investment options through Voya The self directed brokerage window through Schwab Vesting Rules You Need to Know For pension participants, full vesting typically requires: Age 60 with 10 years of service Or age 55 with 30 years of service For defined contribution participants: Your contributions are always 100 percent vested Employer contributions vest 50 percent after 2 years 75 percent after 3 years 100 percent after 4 years Understanding vesting is critical if you are considering a career change before retirement. Retiree Health Care: What Changes in Retirement Health care is one of the biggest retirement stress points, especially for those retiring before Medicare. There are two primary paths: Subsidized Retiree Insurance The State continues to offer coverage in retirement and pays a percentage of your premiums based on your service years. This provides guaranteed coverage and predictable cost sharing, which can bring peace of mind for many retirees. Personal Health Care Fund Instead of subsidized insurance, the State contributes additional money into your defined contribution account. You are responsible for securing your own coverage, whether through: The health care marketplace before age 65 Medicare and supplemental coverage after age 65 We discuss why health insurance planning today is more flexible than it was 15 years ago and how proper planning can reduce the stress around this decision. Key Takeaways from This Episode Your hire date drives your retirement structure Pension and defined contribution plans operate very differently Health care decisions significantly impact retirement cash flow Early retirement requires careful coordination of 401k and 457 rules Working with a fiduciary planner can help you avoid costly mistakes State of Michigan retirement benefits are complex, but they are manageable with the right guidance and a clear strategy. If you would like help understanding how your benefits fit into your overall retirement plan, we are here to help. Contact SRB today at 517-321-4832 or email us at info@srbadvisors.com. Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. Other Podcasts Referenced in This Episode S5E3 – MSU Retirement Plans Explained S4E19 – Does your Retirement Plan Need a ROTH? Medicare Planning with Justine Bell from Benny Guides

    35 min

  2. FEB 10

    MSU Retirement Plans Explained

    Roth Contributions, Tax Planning, and What to Do Now Michigan State University recently added Roth options to its retirement plans, and that change creates new opportunities and new decisions for MSU employees. In this episode of Kitchen Table Finance, David Shotwell and Nick Nauta break down what Roth contributions really are, how they differ from traditional pre tax contributions, and why the right answer is rarely all or nothing. The conversation walks through how Roth contributions work inside the MSU 403b and 457 plans, when paying taxes now can make sense, and when it may not. David and Nick explain how tax diversification can add flexibility in retirement, why employer contributions are still pre tax, and how required minimum distributions factor into long term planning. They also cover recent rule changes affecting catch up contributions for those age 50 and older, and why these updates prompted MSU to add Roth options in the first place. Most importantly, they remind listeners not to let complexity or decision fatigue get in the way of saving for retirement. If you are an MSU employee trying to decide between Roth and pre tax contributions, or wondering how these new options fit into your bigger retirement picture, this episode will help you build a practical framework for making confident decisions. Contact SRB today at 517-321-4832 or email us at info@srbadvisors.com. Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer https://youtu.be/rh0qhHDEca8

    27 min

  3. JAN 27

    4th Quarter 2025 Review and Market Outlook

    In this quarterly recap, David Shotwell and Nick Nauta look back at how markets finished 2025 and share what they are watching in 2026. They cover the spring volatility that tested investor patience, why diversification mattered again, and how a traditional 60/40 mix held up. They also share a balanced “glass half full, glass half empty” view of the economy, then close with the main risks and opportunities for the year ahead. There were important investment lessons to be learned in 2025: First, the year saw extreme volatility, with big gains to be had for those who could stomach the ride up, down, and back up again. Investment discipline was the key to another great year of returns. The length of time between the worst daily performance for the S&P 500 and the best was only five days. Reacting to the market turbulence in early April, as the market responded to quickly – shifting trade policy out of Washington, would have meant missing out on the fast recovery and positive market run that followed.  The second lesson of 2025 was the value of diversification. While the S&P 500 returned over 17% for the year, the leaders driving that return shifted, with only two of the so – called Magnificent Seven tech stocks outpacing the broader market. Betting on a narrow sector of the market can lead to missed opportunities. Further emphasizing the lesson of diversification, after several years lagging US markets, 2025 saw significant outperformance from international markets with developed international and emerging market indices ending the year up over 30% and boosting portfolio return significantly.  As we move into 2026, the economic signals remain strong, but the signals are mixed. Economic growth, as measured by gross domestic product, has been robust, but the labor market, while still strong, shows signs of weakening. Meanwhile, inflation has remained moderate – higher than the Federal Reserve’s goal of 2% but remaining below 3% despite concerns that tariffs and government spending might cause a spike.   As usual, our portfolio advisors at East Bay Investment Solutions prefer to take a balanced approach to market guidance, and their Glass half-full / Glass half – empty chart is below. You can download their full commentary and deep explanation of the issues outlined above here or click here if you prefer to watch their recorded presentation.  Main takeaways Discipline mattered in 2025. A sharp early April drop was followed by a fast rebound, and the year still finished strong. Diversification paid off. International stocks delivered strong results, and most “Magnificent Seven” names lagged the broader S&P 500. The economy sent mixed signals. Growth was strong, while unemployment moved higher and inflation stayed above the Fed’s target. The 60/40 is still relevant. A balanced stock and bond mix produced a strong year with less volatility than an all stock approach. For 2026, stay focused on what you can control. Markets will have risks and opportunities, and your plan should be built for both. What we cover Why 2025 rewarded patient investors The case for owning international stocks Stock market breadth and the shift away from a narrow group of mega cap tech leaders GDP strength, unemployment trends, and why inflation can feel different than the official number 60/40 portfolio results and risk adjusted returns 2026 risk list: deficits, geopolitics, labor shifts, shutdown risk, and Fed independence 2026 opportunity list: AI investment, steadier trade policy, consumer spending, and possible rate cuts Charts mentioned (for reference in the episode) S&P 500 drawdown and rebound around early April 2025 Rolling 12 month leadership: US stocks versus international stocks 2025 performance: S&P 500, international equities, and bonds Magnificent Seven relative performance versus the S&P 500 Want to know more? Contact SRB today at 517-321-4832 or email us at info@srbadvisors.com. Don’t forget to subscribe to our channel for more bite sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer https://youtu.be/S1z0mnKm5sM

    33 min

  4. JAN 20

    2026 Market Predictions

    Welcome back to Kitchen Table Finance. Season 5 kicks off with one of our favorite annual traditions, reviewing last year’s market predictions and locking in new ones for the year ahead. Hosts David Shotwell and Nick Nauta are joined by newly credentialed CFP Cole Williams, who jumps right into the fire with his first official prediction episode. Watch the Full Video HERE In this conversation, we look back at how 2025 actually unfolded compared to expectations. We discuss stock market returns, sector performance, volatility, inflation, interest rates, and how global markets surprised almost everyone. We also talk through why diversification continues to matter, even when predictions miss the mark. From there, we turn the page to 2026. You will hear our thoughts on where the S&P 500 could end the year, which market sectors may outperform or struggle, and which asset classes could see renewed momentum. We also touch on emerging markets, small caps, technology, energy, healthcare, and real estate. The episode wraps up with some lighter predictions, including Bitcoin, geopolitical headlines, and sports forecasts that may or may not age well. As always, the goal is not to be perfect, but to help listeners understand how uncertainty fits into long-term planning. If you enjoy thoughtful conversations about markets, retirement planning, and staying grounded when the headlines get loud, this episode sets the tone for the year ahead. Contact SRB today at 517-321-4832 or email us at info@srbadvisors.com. Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer

    37 min

  5. JAN 9

    What an Internship Really Teaches You About Retirement Planning

    In this episode of Kitchen Table Finance, David Shotwell and Nick Nauta sit down at the kitchen table with intern Stephen Bowe to talk about his path into wealth management, lessons learned during his internship, and how young professionals can find their place in the financial planning world. Stephen shares how Michigan State University and the Wealth Management Association helped shape his career direction, why long-term investing matters early, and what surprised him most about real-world retirement planning. The conversation also explores the intersection of marketing and wealth management, the value of hands-on experience, and why most successful retirement plans look far better than people expect. Whether you are a Michigan State University employee nearing retirement, a young professional exploring finance careers, or someone who wants reassurance about their retirement plan, this episode offers practical and relatable insight. Contact SRB today at 517-321-4832 or email us at info@srbadvisors.com. Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer https://youtu.be/Rvgr4Qhl3jM

  6. 12/16/2025

    Inherited IRAs After SECURE Act

    Episode Summary The SECURE Act changed the game for inherited IRAs, especially for non-spouse beneficiaries. What used to be a “stretch IRA” strategy (spreading withdrawals over a lifetime) is now, for most people, a 10-year clock: the inherited IRA generally needs to be fully distributed by the end of the 10th year. David and Nick break down what changed, why IRS guidance took so long to clarify, and how families can plan around the tax ripple effects—particularly when kids inherit IRAs in their peak earning years. Watch the full episode on YouTube HERE. Key Takeaways The “stretch IRA” mostly applies now only to eligible designated beneficiaries (with spouses treated differently). For many heirs (like adult children), the inherited IRA often must be emptied by the end of year 10—which can create a major tax planning puzzle. Big inherited balances + high-earning heirs can equal bigger tax brackets and less flexibility. Don’t let the tax tail wag the dog: planning should support your bigger goals, not just minimize taxes at all costs. Strategies Discussed Increase the number of beneficiaries (even considering grandkids in the right situations) to spread income and tax impact Think holistically: who should inherit IRAs vs. Roth vs. brokerage assets Charities can be ideal IRA beneficiaries since they typically don’t pay income tax Consider whether it ever makes sense to bypass the spouse at first death (only in very specific situations) Roth conversions as a way to pay tax at a potentially lower rate now and leave heirs tax-free withdrawals later Strategic beneficiary designations: review them regularly and understand the tradeoffs Quote Worth Remembering “If somebody wants to leave me any amount of money, I’ll gladly pay taxes on it.” Next Steps Have questions about inherited IRAs, Roth conversions, or beneficiary strategy? Contact SRB today at 517-321-4832 or email us at info@srbadvisors.com. Don’t forget to subscribe to our YouTube Channel at https://www.youtube.com/@shotwellrutterbaer Episode Chapters Welcome to Kitchen Table Finance Bite-sized financial advice to simplify your money and your life. The SECURE Act & the “Death of the Stretch IRA” Why inherited IRA rules quietly changed and why people are only noticing now. Why These Changes Flew Under the Radar COVID, delayed IRS guidance, and confusion around implementation. Who Can Still Stretch an IRA (And Who Can’t) Non-spouse beneficiaries vs. surviving spouses explained. The 10-Year Rule for Inherited IRAs What most children now face when inheriting an IRA. The Real Tax Problem: Peak Earning Years Why adult children inheriting large IRAs often face higher tax bills. Perspective Check: Is the Tax Bill Really the Problem? Avoid letting tax fears drive irrational decisions. Strategy #1: Increasing the Number of Beneficiaries When spreading beneficiaries (including grandkids) can help—and when it doesn’t. Matching Assets to Beneficiaries Who should inherit IRAs vs. Roth accounts vs. taxable assets. Charities as IRA Beneficiaries Why charities are often the most tax-efficient option. Bypassing a Spouse: When It Might Make Sense Splitting beneficiary designations and using multiple 10-year windows. Strategy #2: Roth Conversions Paying taxes now to potentially save your kids money later. Should Kids Help Pay for Roth Conversions? Intergenerational planning opportunities—and risks. Talking About Money Across Generations Why family conversations can prevent planning mistakes. Strategy #3: Strategic Beneficiary Designations Understanding the “third beneficiary” — the IRS. Don’t Let Taxes Override Your Life Goals Balancing tax planning with enjoyment, spending, and impact. Final Thoughts on Inherited IRA Planning Why there’s no one-size-fits-all answer. How SRB Can Help Planning inherited IRAs, retirement, and legacy strategies. Closing & Subscribe Stay connected for more Kitchen Table Finance conversations.

  7. 12/10/2025

    Is the AI Bubble About to Ruin Your Retirement?

    The headlines are loud. AI stocks are wobbling. The market is jumpy. If you are retired or getting close, it is easy to wonder if this is the moment everything falls apart. In this episode of Kitchen Table Finance, Dave Shotwell and Nick Nauta talk through the recent AI stock jitters and what market volatility really means for long term investors, especially retirees. They explain why a three or four percent pullback is not the end of the world, why investor psychology can do more damage than the market itself, and how a good financial plan is built with downturns already in mind. They also revisit some core planning habits that help people sleep at night in rough markets, like keeping enough cash set aside, understanding your true risk level, and having a plan for what you will do if fear pushes you toward drastic moves. Check out the YouTube Video for this episode HERE. In this episode, you will hear about: Why the recent concern about an “AI bubble” feels familiar if you remember the internet boom How to think about short term volatility versus long term economic growth Why pessimists probably should not be stock investors in the first place The role of cash reserves for retirees and people close to retirement How action bias and fear can lead to harmful timing decisions Why your own diversified portfolio rarely matches the worst headlines How to “de catastrophize” the news and think in realistic ranges of outcomes Practical ideas for people who feel so anxious that they are losing sleep How a financial planner can act as a calm sounding board when markets are rough Whether you are already retired or just starting to think about what your future income will look like, this conversation can help you separate noise from what actually matters. Ready to talk through your own plan? Visit SRBAdvisors.com to schedule a time with the team and see if they are a good fit to help you reach your financial goals.

  8. 11/18/2025

    Retirement Life Planning

    Life Planning, Retirement, and Why It Is “Never About the Money” In this episode, Dave flips the script and interviews Nick about how life planning has become a core part of the SRB client process. Nick shares how training with George Kinder and the EVOKE model shaped the way SRB helps clients think through retirement, not just from a numbers standpoint, but from the perspective of values, priorities, and real life goals. They walk through how the EVOKE structure fits into SRB’s retirement planning work, what actually happens in those conversations, and the kinds of insights clients discover when they finally slow down and think about what they want the next phase of life to look like. Nick also explains why most client “dreams” are less about big, flashy goals and more about time, family, and reducing worry. You will hear: How SRB discovered life planning through George Kinder’s work A plain language overview of the EVOKE process and how SRB uses it with new retirement clients Why the first three stages focus on widening the conversation beyond money Real outcomes from clients who learned they were either not ready to retire or more than ready Why many clients already have “enough” and what to do with that knowledge How life planning shifts decisions about Roth conversions, gifting to kids, and travel The link between clear life goals and better follow through on investment and tax strategies How life planning helps advisors avoid assumptions about what clients value Why the plan on paper will always change, and why that is expected Nick’s experience being life planned himself, and why he keeps going back to the process How SRB is expanding life planning capacity by training Cole as a Registered Life Planner If you are approaching retirement, feel like you might have “enough” but are not sure what comes next, or want your financial plan to reflect your real life priorities, this conversation will give you a feel for how life planning works at SRB and why it might be the missing piece in your retirement planning. Ready to talk about your own life plan? Start with a relaxed fit meeting to see if SRB is a good match for your needs. Visit: srbadvisors.com Contact: info@srbadvisors.com Subscribe to Kitchen Table Finance for more conversations about retirement, investing, and planning for the future. https://youtu.be/1xbJ_Uhvpfg

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Ratings & Reviews

5
out of 5
3 Ratings

About

Pull up a chair with David and Nick for warm, real conversations about money, purpose, and building the life you truly want. Focused on clarity and confidence, they help you move from uncertainty to a plan rooted in your values. Whether you’re a lifelong educator, public service professional, or someone preparing for a meaningful retirement, this podcast meets you where you are. But planning is never just about what is going on in the headlines or the markets—it’s about using your resources to live a life with meaning and intention. This show is about financial advice, but so much more than 403(b)’s, pensions, taxes, and retirement. Expect thoughtful conversations, practical strategies, and a welcoming space to reflect on your goals, values, and the kind of legacy you want to create. We want you to stay focused on what matters most: living well and protecting what you’ve built.

Information

  • Creator
    David Shotwell CFP(r) and Nick Nauta CFP(r)
  • Years Active
    2020 - 2026
  • Episodes
    199
  • Rating
    Clean
  • Copyright
    © 2020
  • Show Website
    Kitchen Table Finance