Retire Secure!

In this episode of The Lange Money Hour: Where Smart Money Talks, we welcome Dan Penning. Dan is the founding member of the Penning Group Advisors and Attorneys. Mr. Penning is a nationally recognized expert in cottage law and succession planning for family-legacy assets. The Penning Group maintains offices in Suttons Bay, Grand Rapids and Novi, Michigan. Jim and Dan will talk about cottages, second homes, and answer questions such as, is second home really worth it? and is it a consumer of wealth or a producer of wealth? They'll also talk about tax laws affecting second homes, renting out and maintaining those homes, and also planning to pass your property down to the next generation. TOPICS COVERED: 1. Introduction of Dan Penning of Penning Group Advisors and Attorneys 2. Second Home Usually Is a Consumer of Wealth, Not a Producer of Wealth 3. Second Home That’s Far Away Is More Difficult to Enjoy 4. Renting Out Your Second Home Has Tax Advantages 5. Is It Smarter to Rent a Second Home Before Buying