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.
Episode 240: Inflation Up
As the economy rebounds, the question remains, “What about inflation?” According to Joel Naroff, Chief Economist at Naroff Economics, LLC, “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.” This transition is projected to last longer than expected with hiring challenges, supply-chain bottlenecks, and other disruptions caused by the pandemic. In fact, we could see about 2% in the coming months as the CPI (consumer price index) jumped 5% in May.
What do we do if inflation continues to go up and up?
That’s the question for Dennis Prout and Heidi Thompson today. Join us LIVE as we navigate the ever-changing economy – the first step in any recovery!
Episode 241: No Going Back
What better way to celebrate our new and improved studio than to have familiar guests join us! The Bill Marsh Brothers (Jamie, Bill Jr. and Mike) are LIVE and in person with us today. They are going to share some of the most difficult times they have faced in the last year-and-a-half, along with surprising victories. Their family-owned automobile business has been forced to change as people stayed home, drove less, and delayed making large purchases at the beginning of the pandemic (stats here). New vehicle production came to a halt and the demand for used cars began to skyrocket. It’s been a wild ride … and the year isn’t even over!
Join all of us in the studio today as we inspire you to keep pushing forward despite the unknown. There’s no going back to how it was before COVID-19, but that might be a good thing!
Episode 239: It Takes a Team
What makes someone more comfortable in retirement? Studies show four things: guaranteed income, little debt, a clear spend-down strategy and employer-provided assistance. All of this takes a little planning over time with trusted advisors. Lucky you, because we have two in the NEW studio today! Dennis and Heidi will guide you through the planning process and how to face money mindsets that could be holding you back. Dennis will speak specifically on IRA planning for special needs beneficiaries.
Teamwork makes the dream work, and we are here for it!
Episode 238: On A Positive Note
Perhaps we’ve been overemphasizing COVID-19 stats, but it’s difficult to look at the numbers without becoming concerned. So much has shifted over the last year and a half, and most of it is out of our control. Our intention is to hold out hope for you. We want you to feel empowered and adapt as needed.
That being said, today we are going to focus on the positive side of the pandemic. The downtime allowed for a lot of reflection and bought some folks time to make necessary changes. We are going to share what those are and give you a few tips for transition. As we all know, the only constant is change!
Episode 237: The Power of Discipline
“It’s not the economy that’s going to determine your next six years, it’s your philosophy” said the late Jim Rohn, entrepreneur author and speaker. His words outlive him and are just as relevant today as they were decades ago. When it comes to investing – the act of putting our dollars where our values lie, is about philosophy. Before you can be disciplined about the small things, you must first determine what you believe to be true and in the power of your own action-making abilities.
Join Dennis today as he applies these principles to the relationship we have with money and the magic of compound interest! After all, life only asks one thing of us … to make measurable progress in a reasonable amount of time!
Episode 236: Plan to Give Now
During the last year and a half, many charities that have relied on fundraising events and in-person relationship building have suffered. The financial insecurity many individuals faced also caused them to withdraw their monthly donations. Meanwhile, according to an article in The Wall Street Journal, “The coronavirus has spurred roughly $13 billion in donations to relief funds and for medical and vaccine research – more than all donations to 12 other big disasters combined, including the 9/11 attacks, the 2008 financial crisis, and hurricanes Harvey and Sandy, according to an analysis by Candid, which tracks and analyzes global philanthropy.”
If you want to make charity a part of your financial plan, don’t wait until the holidays, start the process now. There are ways to leverage your portfolio to help the organizations you care about while also benefiting your tax strategies.