Shotwell Rutter Baer

Retirement planning is about more than investments, savings targets, and account balances. In this episode of Kitchen Table Finance, Nick Nauta sits down with Cole Williams to discuss the Kinder Institute approach to financial life planning.

Cole shares insights from his Registered Life Planner training and explains how financial planning can help people connect their money to the life they truly want to live. Together, they walk through George Kinder’s three powerful life planning questions and discuss how these conversations help uncover priorities, values, and what really matters most.

Topics covered include:

Whether you are approaching retirement or simply want greater clarity around your financial future, this episode offers a practical framework for aligning your money with what matters most.

Mentioned in this episode:

Contact SRB today at 517-321-4832 or email us at [email protected]. Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer

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Retirement planning does not stop when you reach your savings goal. The next challenge is figuring out how to turn those savings into dependable retirement income.

In this episode, David Shotwell and Nick Nauta discuss retirement income planning for Michigan State University employees, including how to estimate spending needs, structure withdrawals, evaluate Social Security timing, and think about taxes in retirement.

Topics covered:

Helpful resources:

Retirement Spending Worksheet

Related episodes:

Tax Planning Episode:
S4E18 – What to Know About Taxes in Retirement

Social Security Planning:
Ep 116: Getting Real About Social Security

Contact SRB today at 517-321-4832 or email us at [email protected].

Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips: https://www.youtube.com/@shotwellrutterbaer

The post S5E11 – How to Calculate Your Retirement Income appeared first on Shotwell Rutter Baer.

Tax planning is not something that should only happen during tax season. In this episode of Kitchen Table Finance, Dave and Nick discuss some of the most common retirement tax mistakes and why proactive planning can make a significant difference throughout retirement.

The discussion focuses on how retirement income sources are taxed, how Roth conversions fit into a retirement strategy, and why understanding required minimum distributions and Medicare IRMAA rules is critical for retirees.

The episode also highlights how withdrawal strategies, Social Security taxation, and capital gains planning can impact long-term retirement outcomes.

Topics Discussed:

S4E19 – Does your Retirement Plan Need a ROTH?

Understanding IRMAA: S4E18 – What to Know About Taxes in Retirement

Contact SRB today at 517-321-4832 or email us at [email protected]. Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer

The post S5E10 – Top Tax Mistakes Pre-Retirees Make appeared first on Shotwell Rutter Baer.

In this quarterly market update, we take a step back and look at what really happened during the first quarter of 2026 and what it means for your financial plan.

We have been partnering with East Bay Investment Services since 2021 to help guide our investment models. Each quarter, they provide a balanced view of the economy, including both opportunities and risks. One consistent theme over the years has been the presence of global conflict as part of the overall investment landscape.

In the first quarter of 2026, that risk moved from the background to the forefront. The conflict with Iran pushed oil prices higher and created volatility across both stocks and bonds. Despite that, the bigger story may be how resilient the U.S. economy and markets have been through this period.

Economic growth has continued to move forward, while inflation outside of energy and unemployment has remained relatively stable. While headlines may suggest otherwise, the underlying data tells a more balanced story.

Here is a quick summary of what we saw during the quarter:

When we break things down further, we continue to look at the economy through a glass-half-full and glass-half-empty lens.

On the positive side:

These factors help explain why many portfolios have held up better than expected, even with increased volatility.

On the other side of the equation:

As always, the full picture is more nuanced than any list of bullet points. Markets are influenced by many moving parts, and short-term events often feel more significant than they are over time.

That is why we continue to focus on long-term planning, diversification, and avoiding emotional decisions during periods of uncertainty.

If you would like to take a deeper dive into the data, you can watch the full East Bay quarterly presentation or review the complete report.

Contact SRB today at 517-321-4832 or email us at [email protected]. Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer

Check out the full video here: https://youtu.be/d8rF9KFNr8U

The post S5E9 – 2026 Quarter One Market Review and Outlook appeared first on Shotwell Rutter Baer.

Welcome back to Kitchen Table Finance. Today’s conversation brings a fresh perspective from the next generation of financial planners.

We sit down with Aditya “Adi” Chaturvedi, a Michigan State University junior and SRB intern, to talk about his journey from Mumbai to East Lansing and what led him into financial planning. Adi shares how his background in math, exposure to finance through family, and early career exploration shaped his path toward wealth management.

Throughout the conversation, Adi offers a candid look at what it is like to step into real client meetings during uncertain markets. He reflects on seeing both strong market performance and periods of volatility, and how clients react in each environment. These experiences highlight an important truth. Financial planning is not just about numbers. It is about helping people navigate emotions, uncertainty, and long-term decisions.

We also discuss the importance of being proactive in college, why early planning matters, and how small decisions can create meaningful opportunities later. Adi shares practical advice for students considering financial planning and explains how the right program can open doors toward a CFP designation.

One of the biggest takeaways from this episode is Adi’s evolving perspective on money. He explains why financial success is not about chasing the highest returns, but about using money as a tool to support a meaningful life filled with experiences and strong relationships.

If you are early in your career, guiding a student, or simply reflecting on your own financial journey, this episode offers practical insights and a grounded perspective on what really matters.

Contact SRB today at 517-321-4832 or email us at [email protected].

Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer

Watch the full episode here: https://youtu.be/Gn-h-niQAcs

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Required Minimum Distributions are one of the most important, and often misunderstood, parts of retirement planning. For Michigan State University employees, the rules can be even more complex due to the different types of retirement plans available. In this episode of Kitchen Table Finance, Dave and Nick take a practical, straightforward approach to help you understand how RMDs actually work and what you should be thinking about as you approach retirement.

We start with the basics by explaining what a Required Minimum Distribution is and why the IRS requires you to take money out of your retirement accounts. Since these accounts were funded with pre-tax dollars, the government eventually wants its share. Once you reach age 73, you are required to begin taking distributions based on your account balance and life expectancy.

From there, we walk through how RMDs are calculated, including how your prior year-end balance and IRS life expectancy tables determine the amount you must withdraw. We also discuss how these distributions typically grow over time and why they may not be as overwhelming as many people expect.

For MSU employees, there are some unique considerations. We cover how RMDs apply to 403b and 457 plans, how Roth contributions are treated differently, and when you may be able to delay RMDs if you are still working. We also explain aggregation rules and how having multiple accounts can impact where and how you take your distributions.

Taxes are a major part of the RMD conversation, so we spend time discussing how these withdrawals are taxed as ordinary income and how they can affect your overall tax picture. This includes potential impacts on Social Security taxation and Medicare premiums. Understanding how these pieces fit together can help you avoid surprises later in retirement.

Planning opportunities are a key focus of this episode. We talk through strategies you can consider before RMDs begin, including Roth conversions and how they can help smooth out your tax situation over time. We also discuss the importance of balancing tax planning with actually enjoying retirement and using your money in a way that supports your lifestyle.

Once RMDs begin, there are still ways to manage the tax impact. One of our favorite strategies is the qualified charitable distribution, which allows you to give directly to charity from your IRA while reducing your taxable income. This can be a powerful tool for those who are already charitably inclined.

We also highlight common mistakes and misconceptions, such as misunderstanding deadlines, thinking RMDs are a maximum instead of a minimum, or assuming you cannot take money from your accounts before RMD age. Avoiding these pitfalls can make your retirement income strategy much smoother.

The key takeaway from this episode is that RMDs are not just a rule you have to follow. They are an opportunity to plan ahead and make thoughtful decisions about your income, taxes, and long-term financial goals. The earlier you start thinking about these decisions, the more flexibility you will have.

If you are nearing retirement or already there, this episode will help you understand what to expect and how to plan ahead with confidence.

Contact SRB today at 517-321-4832 or email us at [email protected].

Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer

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In this episode of Kitchen Table Finance, Dave and Nick break down the difference between traditional financial planning and life planning, and why that distinction matters more than most people realize.

Traditional financial planning focuses on numbers, projections, and optimization. It answers questions like:

These are important pieces of the puzzle, and they are part of every solid financial plan.

But the bigger question is often overlooked. What is all of this for?

Life planning starts with that question. It focuses on your values, your priorities, and what you want your life to look like in the years ahead. Instead of leading with spreadsheets, it begins with clarity around what truly matters to you.

Dave and Nick walk through how strategy and tactics work together, why many people end up chasing goals that are not actually their own, and how aligning your money with your values can lead to a more fulfilling life both now and in retirement.

They also share practical ways to start thinking about your own life plan, including simple questions you can ask yourself to begin the process.

If you have ever wondered whether you are saving and planning for the right reasons, this episode will help you take a step back and look at the bigger picture.

Contact SRB today at 517-321-4832 or email us at [email protected].

Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer

The post S5E6 – Life Planning vs. Traditional Financial Planning appeared first on Shotwell Rutter Baer.

Health insurance is one of the most confusing parts of retirement planning, especially for Michigan State University employees approaching retirement.

In this episode of Kitchen Table Finance, David Shotwell and Nick Nauta walk through the basics of how retiree health insurance works for MSU employees. They explain what happens if you retire before age 65, how Medicare fits into your plan, and the options available through the MSU retiree health plan.

They also discuss marketplace insurance, COBRA coverage, Medicare enrollment, and the planning opportunities that come with Roth conversions and Health Savings Accounts. The goal is simple. Help you understand the moving parts so you can make informed decisions when retirement approaches.

If you are an MSU employee planning retirement within the next few years, this episode will help you understand the major decision points and what steps to take next.

MSU Retiree Health Benefits Policy
Medicare Webinar with Justine from Benny Guides

Retirement planning includes more than investments. Healthcare costs are one of the most important pieces of the plan. Taking time to understand your options today can remove a lot of uncertainty later.

Contact SRB today at 517-321-4832 or email us at [email protected]. Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer

The post S5E5 – MSU Retiree Health Insurance Guide appeared first on Shotwell Rutter Baer.

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.

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:

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.

A defined benefit plan provides a lifetime monthly income based on a formula. Your pension is typically calculated using:

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.

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:

From there, your retirement outcome depends on contributions, investment performance, and distribution strategy.

We also cover:

For pension participants, full vesting typically requires:

For defined contribution participants:

Understanding vesting is critical if you are considering a career change before retirement.

Health care is one of the biggest retirement stress points, especially for those retiring before Medicare.

There are two primary paths:

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.

Instead of subsidized insurance, the State contributes additional money into your defined contribution account.

You are responsible for securing your own coverage, whether through:

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.

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 [email protected].
Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips.

S5E3 – MSU Retirement Plans Explained

S4E19 – Does your Retirement Plan Need a ROTH?

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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 [email protected].

Don’t forget to subscribe to our channel for more bite-sized financial and retirement tips. https://www.youtube.com/@shotwellrutterbaer

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