Nick was asked recently why he liked being a financial planner. He and Dave both agree that this is an important question to ask your financial planner or anyone who is going to help you with your money. Nick tells a story about how he first started thinking about money and saving and how that shaped the career path that he followed. Listen along and learn more about Nick and how he landed a job he really loves now. Money is a very emotional thing for most people and the entire industry has pivo...
Jan 18, 2023•19 min•Season 2Ep. 102
Michigan is an auto-centric state and people from the East and West coast don’t understand why we still driving the same Subaru we bought in the nineteen eighties. Nonetheless, a very popular question we get asked a lot is whether you should buy or lease a car. A car is a major expense and a big budget item and is usually still a necessity for most of our clients. Ultimately, it’s about practicality. The difference between buying and leasing a car isn’t going to change your life. We’re not talki...
Jan 05, 2023•25 min•Season 2Ep. 101
This is our 100th Episode! Thanks for listening over the past 2 years! Join Nick and Dave as they talk about a topic they bring up with their clients on a regular basis. It’s never too early to start saving for retirement. Financial advisers regularly check it with clients to ensure they are saving enough for their retirement goals. This often corresponds with saving more and spending less. The effect of doing this is that small changes or changes that may seem insignificant on the front end hav...
Dec 15, 2022•17 min•Season 2Ep. 100
You might have to dig a little deep in 2022 but we found some things outside of football and nice fall weather to be thankful for. Saying it’s been kind of a rough year might be the understatement of the century. It has been a rough year in the markets. But there are a couple of things we can focus on, and it seems we’ve started to see things come back a little. In a year when we’ve been fighting inflation, the feeling on the street is just overwhelmingly negative. All of these things can feel l...
Dec 07, 2022•14 min•Season 2Ep. 99
Join Dave and Nick as they discuss an Aol Finance article titled Hidden Fees To Watch Out for in Retirement. As fee-only financial planners, we always operate as fiduciaries. This means that we are legally obligated to provide advice that is in your best interest. That is, we don’t profit by selling you a particular product or investment. Many people believe that all financial advisors are required to give advice that is in your best interest; unfortunately, that’s not always true if they have s...
Dec 02, 2022•43 min•Season 2Ep. 98
Dave and Nick offer tips on how to check that your financial plan is on track to provide the goals you have for your future and retirement. Your plan should include resources for things that may come up that you are not planning for. Such as: What if I need to go into a nursing home? What if my wife lives to be 104 years old? What if the market does WYZ instead of what I expected? People don’t typically come to their financial adviser when things are going great. They usually have a concern or q...
Nov 16, 2022•17 min•Season 2Ep. 97
Dave and Nick review the book, The Investment Answer by Daniel C. Goldie and Gordon S. Murray This is a favorite of both of theirs for investing information, especially for those just getting into the investing game. From Amazon: “The good news is that people today expect to live longer, healthier lives. The bad news is that many of us will not have enough money to retire comfortably. The solution to this problem is a wise investment of the wealth we accumulate during our working lives, but the ...
Nov 04, 2022•20 min•Season 2Ep. 96
Dave and Nick discuss current headlines and guidelines on how much the average American “needs” for retirement. Find out if they agree. Are the numbers accurate? How can you calculate what you actually need? Listen to the full episode to learn the Kitchen Table Finance philosophy on retirement. CNBC Article: Americans think you need $1.7 million to retire comfortably About Shotwell Rutter Baer Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. This ...
Nov 04, 2022•17 min•Season 2Ep. 95
Join Nick and Dave as they discuss some positive things going on in the markets and what you can do with your investments to keep some peace of mind. Things they cover in this episode include: Fixed income yields are the highest they have been in years CPI headline inflation in September (8.2%) has fallen since June highs (9.1%) Equity and fixed-income valuations are much more attractive than they were at the start of the year A 3.5% unemployment rate is not consistent with economic downturns Yo...
Nov 04, 2022•22 min•Season 2Ep. 94
Join Nick and Dave as they talk about what investors can do during a down market , like the one we are experiencing now. The best thing to do is to do nothing, but here are a couple of things that you could consider: Increase savings if possible Swap investments to capture losses. Use captured losses to offset gains on investments you want to replace Do a Roth conversion Rebalance We talked pretty extensively on our last episode about why we don’t like market timing . It might help to check that...
Oct 19, 2022•23 min•Season 2Ep. 93
What is a marketing timing strategy for investing and does it work? Join Nick and Dave as they talk about marketing timing and their thoughts on it. People often ask us if they should sell their stock investments and “wait until the market is better.” Market timing as a strategy does not work. You can read more about Market Timing in our longer blog post article HERE . About Shotwell Rutter Baer Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. Thi...
Oct 11, 2022•30 min•Season 2Ep. 92
Join Dave and Nick as they review the Student Debt Relief Plan and go over some options. Here are the main points from this episode: $10,000 of student loan forgiveness for Federal student loan borrowers (and $20,000 for borrowers who received a Pell Grant for college) with income levels under $125,000 for single borrowers and $250,000 for married couples. Relevant tax years are 2020 & 2021 Not necessary for income to be below in both years. If it was below in either 2020 or 2021 you qualify...
Oct 04, 2022•24 min•Season 2Ep. 91
Join Dave and Nick as they chat with Khadijah H. Mutakabbir, a Certified Financial Counselor and the owner of Step By Step Financial Wellness . Step By Step Financial Wellness (SBS) is a financial counseling company that specializes in credit improvement, money management, & saving. They strive to help Michigan Millennials establish a solid foundation so they can achieve financial wellness & success. Listen as they discuss how to build credit as a young person, what to look for when you ...
Sep 12, 2022•32 min•Season 2Ep. 90
It’s an often–repeated cliché about the markets: Stocks are the only thing Americans do not like to buy on sale. When the markets fall, people cut back on contributions to retirement accounts and repeatedly miss out on a golden opportunity to buy shares at low prices. The concept is simple: If you are buying a fixed dollar amount of an investment every month, purchasing on down months means buying more shares, which in turn means a better return when the market rebounds. The problem is that doin...
Sep 09, 2022•28 min•Season 2Ep. 89
The guys are back! Get ready for Part 4 of Ask Ask A Financial Advisor Anything – Part 4a Financial Advisor Anything! Check out our listener questions below and listen to the episode to hear the answers. Got a question? Send it to info@SRBadvisors.com and they will get back to you and possibly feature your question in a future episode. Don’t forget to follow us on Facebook and Instagram for videos and clips of our podcasts. Financial Questions Answered in this Episode Should I pull money out of ...
Sep 09, 2022•25 min•Season 2Ep. 88
Join Nick and Dave for another round of listener questions. Our listeners have submitted some very compelling questions that are probably things you are also wondering about. Check it out! Here are the questions: #1. I lost almost half of my retirement in the stock market and I have stopped making buys. Is that the wrong strategy? #2. How do I get good health insurance if I don’t work somewhere that provides it? #3. What are some safe retirement investment options for someone who does not want t...
Aug 29, 2022•27 min•Season 2Ep. 87
We’re halfway through the year and inflation and interest rates continue to drive the markets and the headlines. Our friends at East Bay Investment Solutions recently published their Quarterly Investment Commentary for the second quarter of 2022 outlining where we are now and where markets may be headed. East Bay likes to summarize the economic outlook in terms of both the bad and the good: You can read their full report here follow the link below for their recorded webinar. https://youtu.be/mjD...
Jul 26, 2022•19 min•Season 2Ep. 86
Join us for Part Two of discussing financial concerns for an 18-year-old, including important financial documents. We have a special guest, Molly Petitjean, a Lansing area attorney, who joins us to answer questions about preparing an 18-year-old for their financial future. This episode sparked from the fact that Nick’s daughter, Cameron who is almost 18, and what she needs to have. Typically, when we think of estate planning and wills, we think of people much older than 18. We are not planning f...
Jul 18, 2022•44 min•Season 1Ep. 85
We have a special guest today, Camryn Nauta. She is Nick’s daughter who is a recent high school grad and is seventeen. She graduated with very high honors and will be attending Michigan State University in the Fall. Camryn is our special guest and is about to turn 18 there are many things an 18-year-old should consider with respect to finances, budgeting, and savings. Find out what her biggest financial concern is at this time in her life and how she is planning for them. Student loans, budgetin...
Jul 18, 2022•23 min•Season 2Ep. 84
Join Dave and Nick as they discuss the 60-40 portfolio. To clarify for people wondering what a 60-40 portfolio is, it is an industry-standard portfolio that contains 60% stocks and 40% bonds. This was considered the Goldilocks portfolio. This is approximately the allocation we use for many of our clients because it fits a lot of different scenarios. The idea is that it’s enough stock exposure and enough risk that you do well in most environments. Bonds in the portfolio provide some cushion when ...
Jul 18, 2022•16 min•Season 1Ep. 83
Join Nick and Dave as they discuss the increasingly high inflation rate. Here are some other resources for you: Worsening Inflation, Consumer Sentiment, and the Markets Bull and Bear Market Cycles 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 ach...
Jun 28, 2022•26 min•Season 2Ep. 82
Part Two of answering financial questions from our listeners. More of your burning questions are answered here. Click HERE for Part One. In Part Two of Ask A Financial Advisor Anything, these questions are answered: Can you set up a retirement fund for a child and if so how? Can you pull money out of a SEP and invest in real estate? Why don’t financial planners speak of gold or silver as an investment for a balanced portfolio? What is a good retirement or savings investment option for someone li...
Jun 09, 2022•25 min•Season 1Ep. 81
Dava and Nick asked people in their network to throw their burning questions about money and finances at them. There were so many great questions and answers, we broke it into two podcast episodes. In Part One of Ask A Financial Advisor Anything, these questions are answered: What is the bare minimum I should be putting into savings from each paycheck? What is the best way to improve your credit score? Do you think the market will crash soon? Which is better, an IRA or 401K, for a new person jus...
Jun 08, 2022•27 min•Season 2Ep. 80
Join Dave and Nick as they explore the world of Tik Tok and the recent money challenges that have been going around the popular social media platform. The Wall Street Journal published an article on May 26, 2022 titled, How Hoarding Cash Became a TikTok Meme , and it is now all the rage. David admits he’s never logged into Tik Tok and doesn’t really plan to. Nick reveals he only watches Tik Tok videos his daughter sends him. However, the new money challenge – where people challenge each other to...
Jun 02, 2022•15 min•Season 2Ep. 79
Join Dave and Nick as they review another helpful book about financial planning. The New Retirementality by Mitch Anthony. You can save yourself the time of reading the book by listening to this episode instead – or it may spark your interest enough to pick up your own copy. Main Theme: Americans need to re-think retirement, focusing on creating a rewarding, phased-in retirement on their own terms rather than one dictated by outdated workplace norms and government-created age milestones. Audienc...
May 26, 2022•20 min•Season 2Ep. 78
An I Bond is a savings bond issued by the US Treasury much like EE Savings bonds, but the interest paid by an I Bond is linked to current inflation. They grabbed headlines at the beginning of May when it was announced that the rate on new I Bonds would be a whopping 9.62%. That is an astoundingly high return for a vehicle backed by the government with no principle risk. However, that rate is a bit misleading: The 9.62% is an annualized rate, while the rate advertised is only effective for the ne...
May 23, 2022•20 min•Season 2Ep. 77
There are a lot of folks out there right now on financial cable channels, on the internet news outlets, social media, and even print media talking about the markets, the economy, and where things are headed. Most of them are making exciting predictions of some sort and often they’ll produce charts and graphs that are intended to support their prediction and lend authority to their position. Some of them are quite compelling, and no doubt at least a few of them will end up being correct when we c...
May 09, 2022•19 min•Season 2Ep. 76
Join us as we talk with guest Ian Richardson, who is a partner at Richardson and Richardson Consulting and the CEO of Doberman Technologies . We talk about emerging technologies and things to be aware of with worldwide information. Ian has been on our show before talking about cybersecurity. Ian is our first repeat guest and we were excited to talk to him. In this episode we cover things like: What is going on in Russia and Ukraine and how can it affect cyber security in the US? Organized crime ...
May 02, 2022•42 min•Season 2Ep. 75
It’s hard to believe we are already a quarter of the way through 2022 and what a quarter it has been. Last week our friends at East Bay Investment Solutions published their investment commentary for the first quarter of 2022. They note that the global economy is being impacted by several items including the continuation of Covid – 19, geopolitical fallout from the Russian invasion of Ukraine, and the Federal Reserve tightening monetary policy to stave off inflation. These issues have made for to...
Apr 27, 2022•28 min•Season 2Ep. 74
We don’t love the term either, because it is hard to figure out what it means. But we do stand by being fee-only advisors. Simply put, our clients pay us a fee for financial planning and investment advice. We do not make any commission from the investments that our clients make. Here is a bit of a longer explanation from our website: As fee-only financial planners, we always operate as fiduciaries. This means that we are legally obligated to provide advice that is in your best interest. That is,...
Apr 25, 2022•21 min•Season 2Ep. 73
