Shotwell Rutter Baer

By Shotwell Rutter BaerBusiness News Education News Commentary Investing How To

Shotwell Rutter Baer episodes

March 17, 2025S4E10 – CFP vs. ChatGPT for Retirement Planning
In this special episode, Nick and Cole put artificial intelligence to the test in a fun and insightful financial planning battle—CFP vs. ChatGPT! They tackle some of the most common retirement and estate planning questions, comparing Nick’s expert advice to ChatGPT’s AI-generated insights. Who gives the better answers? You decide!
https://youtu.be/89elFdanuIU
Topics Covered:
✔️ Have I Saved Enough for Retirement?
Importance of budgeting and projecting income
Social Security, pensions, annuities, and investment returns
Using Monte Carlo simulations to stress-test retirement plans
AI’s reliance on rules of thumb like the 4% rule
✔️ How Do I Avoid Running Out of Money in Retirement?
The power of adaptability in financial planning
Running regular projections and reviewing income sources
Emergency funds and cash reserves in retirement
✔️ Planning for Healthcare & Long-Term Care Costs
Pre- and post-65 healthcare planning (Marketplace vs. Medicare)
Estimating rising healthcare costs
The role of HSAs (Health Savings Accounts) in retirement
✔️ How to Reduce Tax Exposure in Retirement
Strategic Roth conversions and tax-efficient withdrawals
Understanding Required Minimum Distributions (RMDs)
State tax considerations and charitable giving strategies
✔️ How to Plan for Inflation in Retirement
Investing in assets that outpace inflation (stocks, real estate, TIPS)
The “retirement spending smile” and adjusting spending over time
Diversification and balancing risk for long-term financial security
Key Takeaways:
🔹 AI provides broad financial insights but lacks the personal, strategic, and emotional guidance a CFP offers.
🔹 Financial planning is not just about numbers—it’s about adapting to life changes.
🔹 ChatGPT is a great tool for learning financial concepts, but expert advice is crucial for making well-rounded decisions.
Listener Poll:
Who won the CFP vs. ChatGPT battle? Let us know! Email us at [email protected] or connect with us on our website.
🎧 Subscribe & Follow
Don’t miss future episodes—hit that subscribe button and stay informed on all things retirement and finance!
42 min
March 11, 2025S4E9 – February 2025 Retirement Headlines
Episode Summary
In this episode of Kitchen Table Finance, Nick and Dave dive into the biggest retirement-related headlines from February 2025. They discuss essential financial planning topics, including tax strategies, healthcare costs, tariffs, retirement savings habits, and key conversations to have before retiring.
https://youtu.be/wUBQ_6HWRHo
Key Topics & Takeaways
1. Tax Planning & Healthcare in Retirement (Kiplinger)
The importance of integrating tax and healthcare planning into your retirement strategy.
Key questions to consider:
Have you explored Roth conversions and tax-free investment options?
Are you optimizing your AGI to reduce taxes and Medicare premiums?
Do you have a plan for long-term care costs?
Does your plan consider legacy goals and potential tax burdens?
2. The Impact of Tariffs on Prices (WSJ)
A breakdown of how tariffs affect different types of goods.
Competitive commodities may see little price increase, while niche products and expensive items may experience higher costs.
The unexpected ways tariffs could impact American businesses and consumers.
3. Boosting Your Retirement Savings by Thinking About Future You (WSJ)
Many people struggle to prioritize retirement savings because it feels far away.
A study shows that individuals who visualize their future selves are more likely to save.
Tip: Use AI to generate an image of your older self to create a stronger connection to your financial future.
4. Who Should You Talk to Before Retiring?
Two articles take different perspectives on this:
WSJ Perspective (WSJ): Spouse, adult children, doctor, HR chief, siblings, financial advisor, trusted colleague, and yourself.
Kiplinger Perspective (Kiplinger): Financial planner, tax specialist, estate planning attorney, insurance advisor, senior living advisor, and Social Security advisor.
5. The “Golden Window” Tax Strategy (Kiplinger)
The “Golden Window” is the period after retirement but before Social Security and required minimum distributions (RMDs) when taxes are often lower.
Strategies for using this time:
Roth conversions.
Lowering lifetime taxes.
Hedging against future tax rate increases.
Important considerations: Medicare IRMAA, capital gains tax, and marketplace insurance subsidies.
6. DIY Retirement Planning: Smart or Risky? (Kiplinger)
Pros: Saves money, and flexibility.
Cons: Risk of costly mistakes, staying up-to-date on tax and investment rules, and long-term planning concerns.
It is important to have a plan in place for when a spouse or financial planner is no longer available.
7. Four Things You Lose in Retirement (Kiplinger)
Financial security.
Employee benefits.
Social network.
Sense of purpose.
The importance of planning ahead to maintain fulfillment and stability.
8. Once You Hit 55, Is the Stock Market Still Your Best Bet? (Kiplinger)
The article raises valid points about risk tolerance but oversimplifies the decision.
Key takeaways:
You should reduce risk but maintain enough growth to outpace inflation.
It’s not an all-or-nothing decision—balance is key.
9. The 2025 Retirement Landscape: Challenges and Opportunities (U.S. News)
Key concerns:
Inflation remains a challenge.
Market uncertainty continues.
The importance of balancing risk and return in 2025.
Social Security will see a 2.5% increase—but is it enough?
Final Thoughts
Nick and Dave emphasize the importance of ongoing financial planning. Markets, tax laws, and personal goals evolve, making it essential to revisit your financial strategy regularly.
Resources & Links
Schedule a Fit Meeting with Shotwell Rutter Baer
Contact: [email protected]
Subscribe & Follow: The kitchen Table Finance Podcast on your favorite podcast platform.
35 min
March 05, 2025S4E8 – Traveling in Retirement
Episode Summary
In this episode, we welcome Kim Barber from Globetrotter Travel to discuss planning and budgeting for travel in retirement. Travel is a top priority for many retirees, but navigating costs, destinations, and logistics can be overwhelming. Kim shares expert advice on how to make the most of your travel budget, plan bucket-list trips, and find options for solo travelers.
https://youtu.be/mB6wTNI16BM
Key Takeaways:
Start Planning Early – Booking in advance can help secure better pricing and spread out payments.
Budgeting for Travel – A $10,000 annual travel budget can cover one big European trip or multiple smaller trips.
Solo Travel Options – Group tours, women-only trips, and cruises can be great ways for solo travelers to explore safely.
Bucket-List Trips – Destinations like African safaris, Antarctica, and Australia/New Zealand are popular among retirees.
Health & Safety Considerations – Travel insurance is crucial, especially for medical coverage and emergency evacuations.
Tourism Trends & Challenges – Some destinations are experiencing pushback from locals due to over-tourism and short-term rentals.
Best Travel Advice: Be flexible and don’t wait too long to take your dream trips—you never know what the future holds!
Rapid Fire Questions with Kim:
Best Beach Destination for Retirees? Hawaii
Most Underrated Destination? Mexico
Best City for Food Lovers? Seattle
Best Budget-Friendly Country? Portugal, Mexico, Jamaica, Dominican Republic
Favorite Hidden Gem? African safari
Best Cruise Destination? Mediterranean
Best Place for History Buffs? Europe
Connect with Kim Barber & Globetrotter Travel:
🌍 Website: myglobetrottertravel.com
📧 Email: [email protected]
📞 Phone: 517-920-0465
Connect with Shotwell Rutter Baer
💼 Website: srbadvisors.com
📧 Email: [email protected]
📢 Don’t forget to subscribe for more expert insights on retirement and finance!
39 min
February 25, 2025S4E7 – George Kinder’s Financial Life Planning Process
Episode Summary
In this episode, Dave and Nick discuss George Kinder’s Financial Life Planning Process and how it applies to retirement savings. They explore how financial planning goes beyond numbers and investments—it’s about aligning financial decisions with what truly matters to you. They also break down Kinder’s famous three questions that help individuals clarify their financial and life priorities.
https://youtu.be/Yvdb-nCmaZQ
Key Topics Covered
Who is George Kinder?
Known as the “Father of Financial Life Planning.”
His approach prioritizes personal fulfillment over just growing wealth.
The Shift from Spender to Saver in Retirement
Why transitioning from saving to spending can be difficult.
Overcoming the fear of outliving your money.
Kinder’s Three Life Planning Questions
Imagine you are financially secure. What would you do differently?
You have 5-10 years left to live. What changes would you make?
You have 24 hours left to live. What regrets do you have?
How These Questions Guide Retirement Planning
Identifying what truly brings happiness and fulfillment.
Adjusting financial plans to support a meaningful life.
Addressing obstacles that prevent financial and personal goals.
The Value of a Financial Life Planner
Why working with a professional makes a difference.
The emotional component of financial decisions.
How planners help clients overcome limiting beliefs about money.
Resources Mentioned
George Kinder’s Website – Learn more about life planning.
Find a Registered Life Planner in your area.
Shotwell Rutter Baer Advisors: SRBAdvisors.com
Connect with Us
📧 Email: [email protected]
🌎 Website: SRBAdvisors.com
🔔 Subscribe to Kitchen Table Finance for more insights on financial planning and retirement strategies.
21 min
February 20, 2025S4E6 – Going from a Saver to a Spender in Retirement
Episode Summary
Retirement isn’t just a financial transition—it’s a psychological one too. After years of saving and accumulating wealth, shifting to spending in retirement can feel unnatural or even scary. In this episode, Dave and Nick discuss how retirees can successfully make this transition by aligning their spending with their values, understanding their financial resources, and maintaining flexibility in their plans.
https://youtu.be/N7Pn8bGPBW4
Key Takeaways
Align Your Values with Your Money
Many people spend years saving but give little thought to how they will actually spend in retirement.
A helpful exercise is to identify what matters most—family, travel, philanthropy, or hobbies—and plan spending around those priorities.
Resource Mentioned: Life Planning for You by George Kinder
Understand Where Your Money Goes
Instead of focusing on replacing your paycheck, identify what spending truly brings you fulfillment.
Reviewing your budget can help determine which expenses are essential and which are flexible.
Know Your Retirement Resources
Consider Social Security timing, investment income, and other sources of cash flow.
Balance guaranteed income with withdrawals from your portfolio to maintain financial stability.
Have an Investment Philosophy and Stick With It
Retirement investing should be intentional, focusing on long-term sustainability.
Market downturns feel different when you’re no longer earning a paycheck, so having a solid plan in place helps prevent panic.
Be Flexible
Life changes, and so should your financial plan.
Revisiting your goals annually ensures that your retirement plan aligns with your evolving needs and desires.
Final Thoughts
Making the shift from saving to spending requires intentionality and a mindset shift. By planning ahead and understanding your financial picture, you can enjoy a fulfilling and stress-free retirement.
Resources & Contact
📖 Book Recommendation: Life Planning for You by George Kinder
📧 Have questions? Email us at [email protected]
🌐 Visit us at srbadvisors.com
🔔 Don’t forget to subscribe to Kitchen Table Finance for more insights!
24 min
February 14, 2025S4E5 – January 2025 Financial Headlines
Welcome to another episode of Kitchen Table Finance! Join hosts David Shotwell and Nick Nauta as they break down the biggest financial headlines from January, so you don’t have to.
https://youtu.be/QVMJFh-cNik
Articles Covered in This Episode:
1. How to Launch a Successful Consulting Business in Retirement
Insights from a Wall Street Journal article on transitioning from a professional career to part-time consulting.
Key takeaways:
Plan ahead and obtain the necessary certifications.
Treat consulting like a real business.
Consider working with your former employer as a client.
Charge based on your experience, not your time
2. How Seniors Can Donate More to Charity and Pay Less in Taxes
Discussion on qualified charitable distributions, donor-advised funds, and tax-efficient ways to give.
Why writing checks to charities might not be the best strategy.
3. Retirees Will Pay Twice as Much as They Think for Healthcare
Breakdown of a Fidelity study: the average retiree spends $165,000 on healthcare—more than twice what most people expect.
Why it’s crucial to factor healthcare costs into retirement planning.
4. 100% stocks for retirement? A new study says dump the 60/40 portfolio and target-date funds.
MarketWatch report suggesting all-equity portfolios for retirees.
Pros and cons of higher stock allocations and why diversification still matters.
In their study, Anarkulova and her co-authors looked at what drives financial success in retirement by focusing on four key outcomes: how much wealth people have when they retire, the income they can generate during retirement, how well they preserve their savings, and the amount they can leave behind as an inheritance.
On average, the optimal portfolio, which is rebalanced monthly, produces 50% more retirement wealth than a balanced fund and 39% more than a TDF. And this extra wealth translates into higher retirement income for those who follow the all-stock strategy, according to Anarkulova.
5. A One-Hour Exercise That Can Save You Thousands in 2025
Conduct spending inventory! – Take 1 hour to review and make a plan
Plug leaks (subscriptions, etc.)
Unsubscribe from advertising emails/texts
Review last year’s numbers (write them down!)
Spending Post-Mortem
Why did I spend money in this category?
How can I budget for this category in 2025
How/should I cut on this category in 2025
Remove payment information
24-hour waiting period
Fiscal fast for one month in category
6. How Will My Grandchildren Remember Me? These Seven Objects May Tell Them My Story.
Thoughtful discussion on passing down meaningful items rather than just financial wealth.
Downsizing with purpose while preserving family stories.
7. The Rise of Private Equity ETFs – Buyer Beware
The push to include private equity in 401(k) plans and why it’s important to assess liquidity and risk factors.
There are reasons access has been limited in the past
Be wary of liquidity and safety concerns
Just because you can buy it doesn’t mean that you should
8. What Economists Could Learn from George Costanza
A New York Times article exploring why doing the opposite of economic forecasts might not be the worst idea.
9. Even Rich Retirees Fear Outliving Their Money
Studies show those who spend more report greater retirement satisfaction, yet older Americans live below their means
Retirement consumption puzzle
2.1% vs 4% rule
Fear making them miss out
Running out of money
Market downturn
LTC/health need
Give yourself permission to spend (or get permission from a professional!)
10. Biggest Regrets in Retirement
Not starting to save and plan earlier
Starting SS too early
Retiring with too much debt
No transition planning
Preparing emotionally
The good news? 4-10 experience increased happiness
11. Secure Your Retirement Paycheck: The Power of Three Buckets
3 bucket approach to retirement asset allocation
Cash Bucket
Protected income/medium-term bucket
15 years to provide guaranteed income
After 15 years refill with Long term bucket
The author suggests fixed index annuity
Stocks/growth/long-term
12. Should I Choose My Retirement Location Based on Where My Children Live?
The emotional and financial factors of moving near family.
How to balance independence with family ties.
13. Best & Worst States to Retire in 2025
Florida tops the list again, followed by Minnesota, Colorado, Wyoming, and South Dakota.
Michigan ranks at #25.
14. How Couples Can Manage Different Retirement Timelines
25% of people say they expect to retire with their spouse and only 11% of currently retired couples retired at the same time
Considerations:
Spending in the go-go years and a sense of security that leads to overspending (how do you reign it in when you both retire?)
Health insurance – what happens when you both retire before 65?
Social Security – does working help one or both partners delay?
Do you like each other enough? Rise of the Gray divorce
Resources & Contact Info:
🔗 Have an article you’d like us to review? Email us at [email protected]
🔗 Visit srbadvisors.com for more financial planning insights.
📌 Subscribe & Stay Informed – Don’t forget to hit that subscribe button so you never miss an episode!
35 min
February 10, 2025S4E4 – Financial Disasters Unpacked
In this episode of Kitchen Table Finance, Dave Shotwell and guest co-host Cole Williams take a deep dive into financial crises—focusing on the Great Recession of 2007–2009. They explore its impact on financial planning, investor psychology, and how those experiences shape decisions even today.
https://youtu.be/iw3NV9gkARg
What You’ll Learn:
How the Great Recession shaped financial attitudes across generations
The emotional and psychological effects of financial downturns
Lessons from history: Comparing 2008 to the Great Depression and other crises
How financial advisors help clients navigate uncertainty and market volatility
Why market timing is nearly impossible and long-term strategies win
The role of behavioral finance in decision-making during downturns
How financial resilience and adaptability can shape retirement planning
Key Takeaways:
🔹 History Repeats Itself – Financial crises, while painful, follow patterns, and understanding past downturns can help prepare for the future.
🔹 Behavioral Finance Matters – Panic-selling and market timing can lead to poor financial decisions. Understanding biases like recency bias and action bias can help investors stay disciplined.
🔹 Resilience is Key – Individuals and institutions have shown time and time again that they can recover from financial disasters.
🔹 Planning for the Worst – Financial advisors use historical downturns to stress-test portfolios and help clients prepare for future crises.
🔹 The Importance of Liquidity – Having an emergency fund or access to cash prevents the need to sell investments at the worst possible time.
Memorable Moments:
🗣️ “There was no all-clear signal that the market had hit bottom—it just slowly started to come back.”
🗣️ “If we sell now, you’re never going to make your money back. But let’s find actions that feel proactive without hurting your portfolio.”
🗣️ “The system is extremely resilient, and people are adaptable. That’s the biggest lesson from the Great Recession.”
Resources & Links:
📌 Shotwell Rutter Baer Financial Planning
📌 Get in touch: [email protected]
🎙️ Subscribe & Stay Connected
If you enjoyed this episode, subscribe to Kitchen Table Finance on your favorite podcast platform!
32 min
February 03, 2025S4E3 – Lifeboat Drills: Preparing for Market Downturns Before They Happen
Episode Summary
In this episode of Kitchen Table Finance, Dave and Nick dive into the importance of financial “lifeboat drills”—preparing for market downturns before they happen. They discuss why good times in the market don’t last forever and how you can set yourself up for success when the waters get rough. From diversification and rebalancing to cash reserves and Roth conversions, they break down practical strategies to help you stay on course, no matter what the market throws your way.
Check out Dave’s article on Life Boat Drills HERE (also published in TheStreet.com)
https://youtu.be/hXvANzt5nXM
Key Takeaways
Market corrections are inevitable – Planning ahead prevents emotional, knee-jerk reactions.
Diversification matters – A balanced portfolio helps you weather market ups and downs.
Rebalancing is key – Regularly adjusting your investments can keep your risk in check.
Cash reserves provide stability – Keeping some cash on hand can ease stress during downturns.
Opportunistic moves – Roth conversions and tax-loss harvesting can turn a market dip into an advantage.
Mindset is everything – Mentally preparing for tough times makes them easier to navigate.
Resources & Next Steps
Want to make sure your financial lifeboat is ready? Connect with the team at SRB Advisors for a relaxed, no-pressure fit meeting to see if we’re the right financial partner for you. Visit srbadvisors.com or email us at [email protected].
Don’t forget to subscribe to our YouTube channel for more insights on smart investing and financial planning!
Thanks for listening! If you enjoyed this episode, share it with a friend and leave us a review. Until next time, stay prepared and keep your financial future on course!
26 min
January 20, 2025S4E2 – 2024 Q4 Review and Market Outlook
Today, we’re conducting our Q4 2024 market review and upcoming market outlook. We’ll examine what happened last year and what may lie ahead to help listeners set realistic expectations.
https://youtu.be/pKRvkkmKZ9M
2024 Market Highlights
S&P 500 Performance: 2024 closed with another year of +20% returns.
Q4 Results: Large-cap tech stocks rose 7%, while large-cap value stocks declined slightly. International and emerging markets underperformed, but most asset classes saw positive annual returns.
Market Resilience: Despite challenges, the market largely shrugged off concerns, including inflation, Federal Reserve actions, and geopolitical events.
Labor Market Overview
Strength and Stability: The labor market remains resilient with low unemployment, despite significant interest rate hikes in 2022 and 2023.
Sector Variability: Growth is concentrated in healthcare and government sectors, while tech lags. Overall, the labor market is robust, supporting strong consumer spending.
Interest Rates and Yield Curve
Rates and Inflation: Interest rates have stayed higher than expected, with the Federal Reserve lowering short-term rates in late 2024. However, long-term yields have risen, signaling a return to a normal yield curve.
Implications: A normal yield curve is a positive economic indicator, even if it frustrates those seeking lower mortgage rates. Elevated yields provide better returns for fixed-income investors.
Glass Half Full: Positive Economic Indicators
Resilient Economy: Strong labor markets and steady consumer spending support GDP growth.
Higher Yields: Safer investments now offer real returns, benefiting income-focused investors.
Policy Outlook: Growth-focused policies and deregulation could provide short-term economic stimulus.
Glass Half Empty: Potential Challenges
Inflationary Risks: Policies like tariffs and reduced immigration may drive inflation by increasing costs for labor and goods.
Housing Market: High mortgage rates and limited affordable housing construction remain obstacles.
Market Valuations: Two consecutive years of +20% returns may not be sustainable without corresponding earnings growth.
Key Takeaways for Financial Planning
Timing the Market: Just as timing the stock market is difficult, waiting for the “perfect” time to buy a house is unrealistic. Focus on personal priorities and long-term plans.
Valuation Concerns: High market valuations require strong earnings growth to sustain current levels. Monitor earnings reports closely for alignment with market expectations.
At Shotwell-Rudder Bear, our approach starts with a fit meeting to see if we’re the right match for your financial needs. Trust is the foundation of our relationships, and we’re here to help you create a tailored plan. Visit srbadvisors.com to get started today.
You can also reach out by calling us at 517-321-4832 or [email protected].
Don’t miss an episode of Kitchen Table Finance by subscribing to our YouTube Channel.
25 min
January 14, 2025S4E1 – 2025 Market Predictions
Welcome back to Kitchen Table Finance for Season 4! In this highly anticipated episode, Dave and Nick dive into their annual predictions for 2025, reflecting on their 2024 forecasts and offering insights into what might be ahead for the markets, economy, and more.
https://youtu.be/DEeoSfGVgDM
Highlights from the Episode
Recap of 2024 Predictions:
The S&P 500 outperformed expectations, closing the year with a 23.3% gain—well above the historical average of 12.3%.
Notable forecasts from major firms:
Oppenheimer was the closest, predicting a modest 7–10% gain.
J.P. Morgan missed the mark, predicting a 10% loss.
Nick’s Prediction: A near-perfect call of 22%, though humorously tied to the Detroit Lions winning the Super Bowl.
2024 Lessons Learned:
Predictions are inherently uncertain; most are based on long-term trends, not short-term market moods.
Despite global concerns like elections, geopolitical tensions, and inflation, the market climbed steadily, exemplifying the “wall of worry” phenomenon.
Predictions for 2025:
S&P 500 Growth:
Dave predicts a modest gain to 6,000, citing mean reversion after two stellar years.
Nick forecasts a slightly higher target of 6,161, agreeing on modest growth.
Small-Cap and International Stocks: Both agree these sectors are overdue for a resurgence, with valuations suggesting potential gains.
AI and Tech Companies: The duo expects growth in AI-driven stocks to moderate, with broader market sectors stepping into the spotlight.
Key Themes for 2025:
Economic Growth: Optimism remains high, with no signs of recession and strong job numbers supporting market momentum.
Inflation and Interest Rates: Stabilizing rates and controlled inflation are expected to shape economic trends.
Policy Uncertainty: Potential changes in tariffs, taxes, and energy policies could introduce volatility.
Advice for Investors:
Stay diversified and invested for the long term.
Avoid making drastic portfolio changes based on short-term predictions.
Prepare mentally for market corrections, as unforeseen events (like COVID-19) often drive significant disruptions.
Fun Predictions:
Nick predicts this could finally be the Detroit Lions’ year to win it all!
Dave remains hopeful for a playoff return for the Detroit Red Wings.
Additional Resources:
Check out Dave’s blog post on Lifeboat Drills for preparing your portfolio for market downturns.
Stay tuned for future episodes where Dave and Nick dive deeper into strategies for navigating unpredictable markets.
Tune in to hear Dave and Nick’s full discussion, packed with humor, insights, and actionable advice for 2025! Subscribe NOW!
25 min

Share Shotwell Rutter Baer

Sign up to save your podcasts

Shotwell Rutter Baer

Shotwell Rutter Baer episodes