Your Retirement Elevated Podcast: Recent Episodes

Scott Dougan

Financial and retirement planning guidance from Kansas City‘s Scott Dougan of Elevated Retirement Group.

The 4% rule gets talked about like gospel in retirement planning. But let’s be honest, it’s always been more of a rough guess than a golden rule. Now, its original creator is revising it to 4.7%. So, does that mean your retirement paycheck just got a raise, or is this just another headline that oversimplifies a complex decision?

In this episode, Scott takes a closer look at what the 4.7% update really means. He walks through the origins of the rule, the risks of interpreting it as a green light to spend more, and why your real withdrawal rate should always reflect your goals, health, time horizon, and risk tolerance. Headlines and quick financial tips are tempting to follow, but without a personalized plan, they can steer you in the wrong direction.

Here’s what we cover in this episode:

📈 What the new 4.7% rule is really based on

⚠️ Why withdrawal rules don’t fit everyone

🎯 The three phases of retirement

🧮 How dynamic planning beats static numbers

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

You’ve worked hard, saved well, and now you’re thinking about giving back—maybe to your kids, your grandkids, or a cause you care about. But should you wait and pass that wealth on later, or give while you’re still around to enjoy the impact? Let’s talk about how to make that decision with confidence.

In this episode, Scott shares a thoughtful 4-step process to help you navigate one of the most meaningful decisions in retirement.

Here’s what we cover in this episode:

🛫 Why planning to “put your oxygen mask on first” is essential

🎯 Clarifying your motivations before giving

💸 How to give tax-smart and avoid costly surprises

🎁 Structuring your gifts based on how recipients handle money

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

A lot of people believe that everything should go into a trust once you’ve set it up, and while that sounds logical, the answer is actually no. Not everything belongs in your trust, and getting it wrong could lead to headaches, probate delays, or even tax trouble. So today, we’ve invited estate planning attorney Connor Kelley to break down the four big ones you want to be careful with: retirement accounts, vehicles, life insurance, and checking accounts.

Here’s what we cover in this episode:

📜 Why IRAs and 401(k)s don’t belong in your trust
🚗 The surprising reasons to keep vehicles out of it
💸 How to handle life insurance the smart way
🏦 What to do with your checking account instead of retitling it
👨‍👩‍⚖️ The benefit of working with a coordinated financial and legal team

Learn more about the Kelley Law Firm: https://www.yourestateplan-kc.com/

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

Most people walk into a financial advisor’s office asking for more income or a better plan. But what they’re really searching for is something deeper: peace of mind, clarity, and the ability to live life on their terms. In this episode, Scott challenges the conventional approach to planning and reveals the real reason people seek financial guidance in the first place.

Here’s what we cover in this episode:

🗺️ Find clarity, not just paperwork

❤️ Your why > your wallet

🏡 Plan for your real life

⚠️ That uneasy feeling? It's trying to tell you something

😌 Peace of mind > perfect numbers

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

What if I told you the key to financial success isn’t how smart you are with numbers, but how well you understand your own emotions? One of the most talked-about money books out there, The Psychology of Money by Morgan Housel, might change the way you think about money, and we’re going to dive into the key concepts in this video.

Here’s what we cover in this episode:

🧠 Understanding emotional drivers of money decisions

🎯 Why “enough” is a moving target and how to stop chasing it

🎯 Being reasonable beats being perfectly rational

⚠️ Building plans that survive real-life curveballs

The Psychology of Money by Morgan Housel, available on Amazon.com: https://shorturl.at/OaSuM

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

When most people think about retirement risks, they picture a stock market crash. But the truth is, the biggest threats to your financial future are often the ones you never saw coming. In this episode, Scott unpacks seven real risks that can quietly derail even the most well-planned retirement. Spoiler alert: it’s not just about volatility.

Here’s what we cover in this episode:

🔥 Inflation + interest rates = lifestyle erosion

💰 Tax traps that could silently drain your retirement

💡 How diversification helps, but doesn’t solve everything

💵 Liquidity matters more than ever during market stress

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

You’ve had 2025 circled on your calendar for years, but now, with rising inflation, market volatility, and economic uncertainty, you’re asking the big question: Is 2025 still a good time to retire? In this episode, Scott breaks down what really matters when making the retirement leap and why the media headlines shouldn’t dictate your financial future. If you’re feeling pressure to postpone your plans, this conversation offers clarity, calm, and a better decision-making framework.

Key Points We Cover:

🧘 Stay calm, retirement success starts with a clear assessment

📉 Understand your true risk tolerance and volatility exposure

🧺 Why diversification isn’t just about having “lots of stuff”

🏦 How to structure your income for stability and confidence

📆 Why 2025 may not be the problem, your plan might be

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

Most people think a full bank account means full retirement readiness, but it’s just the beginning. In this episode, Scott outlines the three essential keys you must consider before retirement. These points will help you determine whether you're set for a smooth, confident transition or if there are gaps you still need to address.

Find out how to assess your readiness using our practical 1–10 scoring system to help you identify exactly where you stand.

Here’s what we cover in this episode:

📊 Three critical levels of retirement readiness

🏖️ Why financial plans need lifestyle plans, too

📝 How to self-assess with the 1–10 system

📈 Real client stories of smooth (and rocky) retirement transitions

Read the Retirement Manifesto Article: https://www.theretirementmanifesto.com/3-levels-of-retirement-readiness-where-do-you-stand/

Check out the scale for assessing your plan: https://listentoscott.com/wp-content/uploads/2025/04/Assement-Document-PDF-Version.pdf

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

Half of parents are still paying their grown kids' bills (almost $1,500/month, on average), and it’s putting their own retirement at risk. The ‘Bank of Mom and Dad’ is open for business… but for how much longer? In this episode, Scott breaks down the rising trend of parents financially supporting Gen Z and millennial children, even into their 30s and 40s, and the often-overlooked danger it poses to long-term financial security.

Here’s what we cover in this episode:

💸 The emotional toll of helping too much

📉 Why some parents are delaying retirement

🚨 Red flags that it’s gone too far

📊 What to do when support turns into dependency

Check out the Fortune article: https://fortune.com/2025/03/26/millennial-gen-z-adult-children-parents-monthly-payments-retirement/

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

You’ve spent years saving in your IRA, but what if we told you it could be the worst asset to leave to your kids? In this episode, Scott uncovers a critical issue with your retirement plan: inherited IRAs.

Why does nationally recognized IRA expert, Ed Slott, call traditional IRAs “the worst asset to pass on to your kids?” We’ll break it all down for you and explain how you may be leaving a massive tax bill for your heirs.

Here’s what we cover in this episode:

🔥 The IRA Time Bomb: Why Your Nest Egg Could Blow Up

📣 Ed Slott’s Bold Warning

💥 The SECURE Act & 10-Year Rule

⛓ Why IRAs Are Now a Burden to Heirs

🔄 Roth IRAs: A Better Legacy Tool

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

The headlines are loud, the markets are messy, and your gut might be telling you to do something, anything. But what should you actually do when your portfolio takes a hit like we’ve seen in recent days and weeks? If you’ve felt your stress levels rise, you’re not alone. Today we’ll try to help ease those emotions and the natural inclination to start making changes to your investment strategy.

Here’s what we cover in this episode:

📉 What to do (and not do) when the market drops

🧠 Why emotion is the biggest threat to your portfolio

📊 Market history since 1970—what it teaches us

🕰️ How missing just a few days can derail decades of growth

🧺 The “4-Bucket” plan that brings clarity during chaos

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

Retirees have leveraged the traditional IRA for decades to invest and save, but is it still the best tool for today’s retirement landscape? IRA expert Ed Slott recently called the traditional IRA “the worst possible asset to own,” which is a bold statement.

If this is true, when did it all change, and what are some better options? In this episode, we’ll explore the validity of this statement and have a real conversation about investing and taxes.

Here’s what we cover in this episode:

📜 The SECURE Act killed the Stretch IRA for most beneficiaries

💣 Large IRAs = tax time bombs for heirs in peak earning years

🔁 Roth IRAs can provide tax-free income and reduce RMD headaches

🧠 Layered tax strategies can help reduce your long-term liability

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

April Fool’s Day is all about jokes and pranks, but when it comes to retirement planning, getting fooled can cost you real money. Today we’re going to unpack five common myths that trick retirees into making emotional or short-sighted decisions.

Here’s some of what we cover:

🎭 Don’t get fooled by “guaranteed high returns”

🕒 Social Security timing is more than just fear of missing out

💰 Tax burdens in retirement can be higher—not lower

💡 Being frugal isn't a retirement strategy—it’s a mindset

🏥 Relying on your kids for care isn’t a long-term plan

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

🌐 Visit our podcast website: https://listentoscott.com/

📚🛠️ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit

Download here 👉 https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

March Madness is here, and just like filling out a bracket, picking individual stocks feels exciting. But the odds of winning big are slim. Investors often chase stock picks the same way they bet on their favorite teams, but history shows most stocks underperform, just like most brackets get busted.

In this video, Scott breaks down the risky game of stock picking and how it compares to the unpredictability of March Madness.

Here’s what we cover in this episode:

🏀 March Madness & Investing – Why picking stocks is just like picking brackets

📉 Most Stocks Underperform – The surprising truth from a 98-year study

📊 Company Stock Risks – Why overconcentration can hurt your retirement

🔄 Diversification Wins – How to create a balanced, long-term investment strategy

0:00 – Intro

2:44 – Almost $3B wagered

4:25 – Stock Study

5:14 – Most people lose

7:08 – Sustained success is difficult

11:02 – Picking favorites

14:38 – Penny stocks and crypto

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

📚 Get a FREE copy of our latest book, Exceptional Retirement!

Download here 👉 https://keap.page/bu413/kiplinger-toolkit.html

🛠️ Check out our Retirement Toolkit

https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

Much like the weather, the stock market has its share of ups and downs. Those stormy days might feel unrelenting at times, but even in weeks filled with red, we can usually count on brighter days ahead. In this episode, Scott will provide some much-needed context for market corrections, explain how they differ from pullbacks and bear markets, and show you why staying calm is the best approach.

Here’s what we cover in this episode:

📉 Pullback vs. Correction vs. Bear Market – What’s the difference?

⚠️ Why Market Corrections Happen –

💡 The biggest mistakes investors make in downturns

📊 Protecting Your Portfolio – How diversification & risk management help

0:00 – Intro

0:56 – What’s causing this volatility

5:35 – 3 types of market movements

8:21 – Market correction factors

13:00 – How does it impact you?

18:08 – 5 actionable items

Get our latest on market corrections here: https://listentoscott.com/wp-content/uploads/2025/03/UNDERSTANDING-MARKET-CORRECTIONS.pdf

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

📚 Get a FREE copy of our latest book, Exceptional Retirement!

Download here 👉 https://keap.page/bu413/kiplinger-toolkit.html

🛠️ Check out our Retirement Toolkit

https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

Many people enter into a relationship with their financial advisor with unrealistic expectations, often believing they can control the uncontrollable. The reality is an advisor can provide great value, but they can’t help you with everything.

Today it’s part two of our series on things your advisor can and can't do for you, and we’re going to clarify some misconceptions and set proper expectations regarding what an advisor cannot do.

Here’s what we cover in this episode:

Here’s what we cover in this episode:

0:00 – Intro

2:23 – Guaranteed returns

7:51 – Make you rich overnight

10:08 – Eliminate all risk

11:41 – Change behavior for you

14:04 – Final takeaways

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

📚 Get a FREE copy of our latest book, Exceptional Retirement!

Download here 👉 https://keap.page/bu413/kiplinger-toolkit.html

🛠️ Check out our Retirement Toolkit

https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

In the world of finance, the role of a financial advisor can often be misunderstood. Many individuals think that hiring a financial advisor is solely about investment management or picking stocks. However, the role of an advisor is multifaceted so understanding what they can and can't help you with will allow you to make more informed decisions.

In this video, you’ll discover the five key things a financial advisor can do for you, from creating a personalized financial plan to helping you avoid emotional decision-making.

Here’s what we cover in this episode:

0:00 – Intro

1:15 – Create a personalized financial plan

5:30 – Preventing emotional decisions

12:35 – Discipline & Accountability

17:48 – Simplifying complex decisions

20:42 – Optimize investments

23:03 – The Number One Question to Ask

💼 Want expert help in planning for your financial future?

Apply for a consultation here 👉 https://calendly.com/erg-kc/introductory-phone-call-with-erg

📞 Call us: 913-393-4724

📚 Get a FREE copy of our latest book, Exceptional Retirement!

Download here 👉 https://keap.page/bu413/kiplinger-toolkit.html

🛠️ Check out our Retirement Toolkit

https://keap.page/bu413/exceptional-retirement-youtube.html

🎥 Subscribe to our YouTube channel for more retirement insights!

🔔 http://youtube.com/@erg-kc?sub_confirmation=1

📰 Read our latest articles on Kiplinger:

https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviser

📌 Follow us for expert retirement planning tips!

https://www.facebook.com/elevatedretirementgroupkc/

retirement #retirementplanning

The day President Trump took office, he announced plans to implement a 25 percent tariff on goods from Mexico and Canada. Additional tariff conversations have exploded since that day. What could these mean to your personal finances and the economy? Today, we’ll explain a bit of the backstory of tariffs and discuss the possible financial pros and cons.

Here’s what we cover in this episode:

0:00 – Intro

0:53 – What is a tariff?

3:32 – History of tariffs

4:43 – Economic implications

8:30 – Benefits

10:45 – Market volatility

12:45 – Emotional reactions

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

In honor of Valentine’s Day, we’re going to talk about the five love languages made popular by author Gary Chapman. If you’re not familiar with them, they include acts of service, quality time, words of affirmation, gifts, and physical touch. Today we’ll tell you what those have to do with planning for retirement. You'll be surprised by some of the connections Scott is able to make here.

Here’s what we cover in this episode:

0:00 – Intro

3:02 – Acts of Service

7:08 – Quality time

8:22 – Words of affirmation

13:35 – Gifts

17:16 – Physical touch

20:02 – Final thoughts

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

As we gear up for another Super Bowl featuring the Kansas City Chiefs, let's take a moment to appreciate one of the best coaches in the game, Andy Reid. Whether you’re planning the perfect play on the field or preparing for retirement, success comes down to strategy, discipline, and knowing when to adjust. Today, we’re breaking down some of Coach Reid’s best quotes and how they apply to building a winning retirement plan.

Here’s what we cover in this episode:

0:00 – Intro

2:40 – Quote 1

4:05 – Quote 2

8:11 – Quote 3

11:02 – Quote 4

13:17 – Super Bowl prediction

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Everyone views their retirement differently, and there’s a segment of the population that wants to live life to the fullest. If they could build the perfect plan, that last check they write would barely clear the bank. For those that don’t want to leave a large legacy and would rather spend down their assets over their lifetime, we’ll talk about how personalized planning can help accomplish that goal and ensure you’re not going to run out of money too soon.

Here’s what we cover in this episode:

0:00 – Intro

3:08 – Strained spending

7:16 – Defining lifestyle needs

11:05 – Mindset shift

15:13 – Our process

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Chasing that magic number in retirement can be pretty anxiety-inducing. Many in the financial industry get fixated on saving and saving to reach this gigantic number, but there’s so much more detail that goes into figuring out what you will need to support your lifestyle. Today we’re going to tell you what goes into finding that financial independence number for you.

Read the article that Scott wrote for Kiplinger about this topic here: https://www.kiplinger.com/retirement/your-enough-is-enough-number-for-retirement

Here’s what we cover in this episode:

0:00 – Intro

2:23 – Essential questions

5:06 – The factors we consider

7:32 – Easing the anxiety

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

As the cold winds of winter sweep across the Midwest, many retirees find themselves yearning for a change of scenery—a warmer, sunnier place to call home during the colder months. Enter the snowbird lifestyle, a popular choice for those looking to escape the harsh winter climate and embrace a more temperate environment.

In this show, we explore the world of snowbirding, the reasons why so many retirees are drawn to this lifestyle, and how it can be seamlessly integrated into your retirement plan.

Here’s what we cover in this episode:

0:00 – Intro

2:40 – Where people are enjoying their snowbird retirements

7:56 – Healthier lifestyles in warmer climates

10:05 – Zoombirds

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Maybe the biggest news of the new year is that Democrats and Republicans actually agree on something. The stats show that around 80% of people on both sides believe that the nation is facing a retirement crisis. So what are the biggest problem areas and how do we correct them?

This video will dive into results from a recent survey that reveal a vast majority of Americans, regardless of political affiliation, recognize the challenges of inadequate retirement savings, increasing debt, and inflation.

Here’s what we cover in this episode:

0:00 – Intro

0:31 – What is the retirement crisis?

3:04 – Debt

4:13 – Inflation

6:40 – Guaranteed income

9:55 – Social Security

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

In today’s episode, Scott breaks down a recent Social Security solvency proposal that suggests a 40% reduction in benefits for high-income earners. Proposed by the American Enterprise Institute, this plan targets wealthier individuals to bear the brunt of reductions, allowing lower-income retirees to face less drastic cuts.

Scott weighs in on whether this proposal is likely to gain traction and examines broader challenges facing the Social Security system. He’ll also share what the potential adoption of a proposal like this could mean for the future of retirement planning.

Here’s what we cover in this episode:

0:00 – Intro

1:28 – Social Security proposal

3:05 – Challenges in the Social Security system

5:39 – How does this impact financial planning?

9:40 – Staying educated and communicating with your advisor

Social Security Reform Article:

https://www.fa-mag.com/news/social-security-reform-proposal-would-slash-benefits-40--for-high-earners-80419.html?section=131&utm_source=FA+Magazine&utm_campaign=e6e275dc58-FAN_Retirement_Allspring+Lead+Gen_112524+GTG&utm_medium=email&utm_term=0_-02ce404ce3-244628203

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Retirement planning is more than just saving money; it's about making your savings last as long as you do. Today Scott is going to share five crucial tax strategies that can significantly impact your financial future.

Here’s what we cover in this episode:

0:00 – Intro

1:19 – Why tax planning is critical to today’s retirement plan.

3:13 – Roth conversions

5:38 – Harvesting capital gains

7:15 – Tax diversification

9:41 – Required minimum distributions

12:39 – Health savings accounts

Read Scott's Kiplinger article:

https://www.kiplinger.com/retirement/tax-strategies-to-help-your-money-last-in-retirement

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

In this show, we explore why people in this financial bracket often rethink their strategy and discuss key topics like tax planning, withdrawal strategies, and income guardrails. With more at stake and no room for mistakes, the importance of having a skilled team to guide you through retirement is greater than ever.

Here’s what we cover in this episode:

0:00 – Intro

1:52 – Shift to Distribution

5:25 – Are you paying too much in taxes?

10:58 – Will your money last?

14:07 – Final thoughts

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

As the year draws to a close, it's the perfect time to reflect on your financial health and make strategic decisions for the future. In this week’s episode, Scott takes us through four major year-end financial planning mistakes and how to avoid them.

Here’s what we cover in this episode:

0:00 – Intro

1:44 – Ignoring the issues that debt creates.

5:50 – Overlooking the costs of your go-go years.

11:16 – Failing to plan for inflation’s long-term impacts.

13:13 – Not addressing poor lifestyle habits and decisions.

17:51 – Get in touch with Scott

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

If you have watched any of our podcasts and videos, or if you've ever engaged as a client with Scott Dougan and the Elevated Retirement Group team, you've probably come across a lot of flow charts. We're going to poke a little bit of fun at Scott today as he has prepared us a beautiful flow chart. It’s not the typical chart about finances but about Thanksgiving instead.

Check out the flowchart here: https://listentoscott.com/wp-content/uploads/2024/11/Thanksgiving-Flow-Chart.pdf

Here’s what we cover in this episode:

0:00 – Intro

2:12 – Start of the flowchart

4:51 – Turkey prep

7:44 – Stretchy pants

9:10 – TV

10:40 – Cranberry sauce

14:30 – Master plan for the day

16:40 – Ready for things to not go as planned

19:30 – Scott’s message for this Thanksgiving

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Did you know there are three specific birthdays that can have a huge impact on your tax situation? It’s true, and today we’re going to tell you why 50, 65, and 73 are key ages for retirement planning.

Here’s what we cover in this episode:

0:00 – Intro

1:44 – Age 50

4:38 – Changes in catch-up rules

8:30 – Age 65

11:33 – Age 73

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

The 2025 contribution limits are now available and the tweaks might be significant for anyone approaching retirement. These changes are really going to affect that person with tax-deferred accounts like a 401, IRA, 403b and others. Join us to find out how the 2024 limits compare to what’s coming in 2025 and how it might change your saving strategies.

Here’s what we cover in this episode:

0:00 – Intro

1:21 – 401ks

5:34 – 457bs and Roth IRAs

7:45 – HSAs

10:07 – Final thoughts

Want to connect with us?

Web:https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

When you talk about retirement timing and how to remain retired, people often overlook at least one of seven key areas. The majority of them have nothing to do with money but they’re just as important as your savings account.

We sent out this article in a newsletter to clients recently and got a good response, so today we want to elaborate on these seven factors that will help you lead a fulfilling retirement.

Here’s what we cover in this episode:

0:00 – Intro

1:30 – The dollars and cents

3:12 – Staying active

5:30 – The psychological side

7:48 – Social networking

14:10 – Personal experience

17:06 – Family decisions

The Key to Tax-Aware Planning: https://www.truewealthdesign.com/the-key-to-tax-aware-investing/

Check out the The Gap And The Gain: https://amzn.to/4eV7OgC

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

The Gap and The Gain: The High Achievers' Guide to Happiness, Confidence, and Success

The primary value of a financial advisor isn't just picking the right portfolio, making sure you're minimizing taxes or establishing a paycheck that you're not going to outlive in retirement. It's about preparing clients for the truth. Can you handle the truth?

Today we’re going to talk about the uncertainty in life and retirement and how a financial advisor helps provide the certainty you need with your money.

Here’s what we cover in this episode:

0:00 – Intro

2:27 – Five key areas of planning

5:37 – Planning for uncertainty

9:15 – Different scenarios

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

The perception of what it takes to be wealthy sometimes matches reality, but often it doesn’t. Americans have opinions on what qualifies as being rich, and a recent survey tells us that we don’t always agree on what it takes to live comfortably.

Today we’re going to explore this disparity and discuss why comprehensive planning provides the clarity and direction you need to instill confidence in your financial future.

Here’s what we cover in this episode:

0:00 – Intro

2:00 – Study findings

6:30 – How many feel wealthy

9:39 – Wealth by generation

16:30 – Financial sources

19:49 – Staying on top of finances

21:56 – Planning decisions

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Social Security is the backbone of retirement for millions of Americans, but big changes may be coming. On this episode, we dive into the recently released proposal to raise the full retirement age to 69 and what it means for your benefits, your future, and your financial security.

Here’s what we cover in this episode:

0:00 – Intro

4:02 – Increase in full retirement age

8:11 – Penalty for taking Social Security early could increase

11:32 – Would an increase in full retirement age save Social Security?

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Have you heard of Pig Butchering? It’s not what you think. It’s a cunning new scam that’s draining retirement accounts and leaving victims penniless.

Today, we’re uncovering how scammers are using relationships built on various phone apps to lure people in.

Here’s what we cover in this episode:

0:00 – Intro

3:02 – What is “pig butchering?”

6:09 – The scale of these scams

11:10 – How can we identify scams?

15:13 – Steps you can take to avoid scams

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

We’ve spent years helping educate clients on financial planning and we’re excited about stepping out of our comfort zone and into a new medium: filmmaking. Scott is a contributing producer for the new movie, The Psychology of Retirement, which recently premiered in Colorado.

Discover the behind-the-scenes stories of creating this impactful movie, the importance of a comprehensive retirement plan, and the challenges retirees face today. Scott shares his experiences from the red carpet premiere to private showings and explains why having a written retirement plan is essential for a secure future.

We’re inviting anyone who wants to see the move to call our office for details on how to get a copy.

Here’s what we cover in this episode:

0:00 – Intro

1:09 – How did this movie happen?

4:51 – Movie premiere

9:36 – Retirement challenges

15:30 – What you can get out of the movie

18:00 – Movie trailer

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Scott has always had a passion for cooking, and he recently completed a 9-week cooking course in Kansas City. In this episode, we explore the valuable lessons from the culinary world that can be applied to financial and retirement planning.

One of the key concepts Scott learned is "Mise en Place," which emphasizes the importance of organizing and preparing all ingredients before you start cooking. This principle can similarly guide us in the financial realm, as we prepare and arrange our resources to enjoy a fulfilling retirement.

Here’s what we cover in this episode:

0:00 – Intro

10:14 – Mise en place

14:05 – Having a vision for retirement

19:03 – The value of having a team

28:43 – Experiences drive our feelings about finance

34:41 – Smooth sailing doesn’t mean nothing is happening

38:46 – You want a financial pro who has seen it all

The Culinary Center of Kansas City

https://kcculinary.com/

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Today’s a special episode discussing Medicare plans because it’s really important that you review your medical plans as soon as possible. Big changes are coming to the industry and you don't want to be caught off guard. That’s why we’ve invited Cortney Dale, CEO of Sunflower Insurance Solutions to point out the areas you have to pay attention to and highlight where you might need to make changes to your plan.

Here’s what we cover in this episode:

0:00 – Intro

3:19 – Impact of the Inflation Reduction Act

5:49 – What’s changing with Medicare?

12:04 – Benefits of having an independent professional

16:27 – Lots of people will need help

18:49 – How to get help

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Are you and your spouse on the same page when it comes to what retirement is going to look like? If not, it’s time to talk. In this show, we'll explore why it’s so important for couples to have detailed conversations about their finances and retirement futures. Scott shares insights on how to navigate disagreements, the common issues couples face, and practical steps to ensure both partners are aligned.

Here’s what we cover in this episode:

0:00 – Intro

2:28 – Why you should work together

6:20 – Handling disagreements

9:40 – Healthcare costs

11:11 – Steps to take

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

A random, retired YouTuber did a simple video exploring the top 5 regrets from other retirees he interviewed (all in their 70s). It blew up to almost half a million views (and counting). That clearly struck a chord with people that wanted to learn more about regrets in the retirement landscape.

Here’s what we cover in this episode:

0:00 – Intro

4:47 – They wish they had retired earlier

10:23 – They wish they had spent more when they first retired

16:02 – They wish they took better care of their health

18:33 – They wish they had taken up a hobby

22:10 – They wish they had traveled more

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

When it comes to planning for retirement, annuities often come up as a topic of discussion. But what exactly are annuities, and how do they fit into your financial plan? Today we’re going to break down the four different types of annuities and explain their pros and cons to help you make the best decision on which one fits you the best.

Here’s what we cover in this episode:

0:00 – Intro

0:55 – Why the growth in annuities?

6:39 – Removing bias

9:39 – Immediate Annuity

12:40 – Fixed Annuity

18:15 – Fixed Index Annuity

24:02 – Variable Annuity

27:00 – Planning is crucial

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

People always want to know whether they’ll get a Social Security increase and if so, how much will it be in 2025?

New government data shows that inflation is starting to subside, and that seems like it will have an impact on next year’s Social Security cost-of-living, or COLA, adjustment. Even though many retirees are still struggling with higher costs, the 2025 increase estimate shows the lowest adjustment in four years.

Here’s what we cover in this episode:

0:00 – Intro

1:12 – Scott’s reaction to the news

2:28 – Historical data

5:52 – Buying power nationally

12:54 – How it impacts spending

14:50 – Looking ahead

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

So you think you've got it all figured out and you’re not going to give Uncle Sam a single dime more than you absolutely have to. Well, not so fast, my friend. On today's episode, we're going to give you four ways that you could pay more taxes than you had originally planned. A couple of these might surprise you.

Here’s what we cover in this episode:

0:00 – Intro

1:24 – Moving into a higher tax bracket

7:09 – Rates for tax bracket go up

8:33 – Fewer tax deductions

9:48 – New taxes

Get the free guide: Could Higher Taxes Derail Your Retirement Approach? - https://listentoscott.com/wp-content/uploads/2024/08/SW_HigherTaxes_WP_Client_0622.pdf

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

When it comes to planning for retirement, one of the most critical aspects to understand is control. Knowing what is within your control, what you have some control over, and what is entirely out of your control can make a significant difference in how you approach planning.

Today we’re going to focus on the behavioral side of planning and discuss why control is an important part of the retirement equation. This equation breaks things down into three main categories: things that we have total control over, things we have no control over, and things that we have some control over.

Here’s what we cover in this episode:

0:00 – Intro

3:00 – Total control

6:20 – Emotions

8:00 – Not in control

9:55 – Some control

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Retirement planning can be overwhelming, but it doesn't have to be. Working through a checklist can ease your worries and give you confidence, but what should you have on that retirement checklist? Today Scott is going to share his Checklist Challenge, a comprehensive guide to ensure you're fully prepared for retirement. Find out which 34 essential items made the list.

Are you ready to take the Checklist Challenge? Download the checklist and follow along as you listen to the episode. See where you stand and identify areas for improvement. If you find gaps in your plan, don't hesitate to reach out to a financial advisor for guidance.

Here’s what we cover in this episode:

0:00 – Intro

2:10 – Common retirement fears

5:41 – Structure of financial plans

8:45 – Medical and healthcare

11:15 – How to use the checklist

Follow along with the checklist here: https://listentoscott.com/wp-content/uploads/2024/07/Checklist-Challenge-Download-PDF-for-WEB.pdf

The Checklist Manifesto by Atul Gawande - https://amzn.to/4cECv8J

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

The Checklist Manifesto

Whether you're just starting out with a financial advisor or considering a change, it’s important to have some key questions in mind to help determine whether a particular advisor is a good fit for you and your finances. Today we’re going to give you five critical questions you need to ask to ensure you're getting the best advice possible.

Here’s what we cover in this episode:

0:00 – Intro

1:41 – Reviewing your financial situation

3:55 – Proactively managing tax returns

6:28 – Future income planning

10:50 – Risk tolerance

14:32 – Estate planning

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

In today’s digital age, cybersecurity has become a critical concern for everyone, especially those planning for retirement. In this special edition of Your Retirement Elevated we’re sharing a video replay of our recent cybersecurity event with expert Ryan Fickel. Ryan is the Chief Technology Officer and Chief Information Security Officer at Advisors Excel and will be working closely with our team moving forward.

This presentation covers a wide range of cybersecurity threats, from phishing attacks to ransomware and the growing dangers posed by AI. Don’t miss this helpful advice on how to stay vigilant against these attempts.

Here’s what we cover in this episode:

0:00 – Intro

3:48 – Where do threats come from?

8:12 – The fundamentals and preventative measures

18:28 – Phishing techniques getting more advanced

20:49 – Credit monitoring services

29:05 – Antivirus software, Windows11, wireless routers

37:22 – Credit card, identity, and password theft

42:31 – Precautions when using AI

53:51 – Q&A session

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

The truth about retirement planning is that many people need a reality check when it comes to taxes and the impact they will have on their retirement money. Today we’re going to turn our attention to tax planning and how to keep most of your money from going to the IRS instead of the things you want to spend it on in retirement.

Here’s what we cover in this episode:

0:00 – Intro

2:40 – Taking money out prior to 59.5

3:58 – Enhanced creditor protection

7:35 – 3 ways to move your money

11:22 – What happens if something gets messed up

Get the Retirement Rollover Reality Check PDF: https://listentoscott.com/wp-content/uploads/2024/07/Rollover-Reality-Check-PDF-FOR-THE-WEB.pdf

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

What does a complete financial plan really look like? You’ve spent decades working hard, saving diligently, and now the golden years are on the horizon. But have you covered all of your bases? Listen in as Scott walks us through the 5 key areas of a complete financial plan in today’s episode- income planning, investment planning, tax planning, healthcare planning, and legacy/estate planning.

Here’s what we cover in this episode:

0:00 – Intro

0:33 – Overview of the 5 key areas

6:20 – Income planning

9:00 – Investment planning

11:52 – Tax planning

16:48 – Healthcare planning

19:15 – Legacy and Estate planning

The 3 Stages of Retirement Episode

https://listentoscott.com/video-podcasts/the-3-stages-of-retirement/

The 5 Key Areas of a Complete Financial Plan PDF

https://drive.google.com/file/d/1D6L8ZwZL0vyy5m3LbsCrXHC6_2QadcQt/view?usp=sharing

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Today we’re going to cut through some of the fear by identifying the most common financial scams so you know what to be on the lookout for. We’ll also give you some tangible actions to take today to help safeguard your accounts.

Are you at risk of having your identity stolen or becoming of fraud? We’ll break it all down with Scott in this video.

Here’s what we cover in this episode:

0:00 – Intro

1:44 – Big interest in this topic

5:52 – Cyber threats

12:46 – Social media

14:30 – Common scams

17:30 – Upcoming event

Register for our July 10th cyber security event:

https://bu413.keap-link003.com/v2/click/1d65e1ee9f67a544a268f27d888ebaa4/eJyNkEELgkAQhf_LnEsTC8VbhIhoHqLOseqQi7oN6xiI-N9bKzwVdJ333vd4MwKjEorjEgLI-63jwgo0FpIkKj7cFYviJfru1l9BI1Ud6XtPEIzfkos-Xx1v55sMD4TGcj7tD0mcRdc0zhJjJaFNw18cx_M3Cyc87uMUpuknGFvJ4cOwOwhY9zjvKaXZxBfdGH_FTF1g2zUKskjc0H612sWQo153WPRa8rDGGWFV3DaGKYhQlZ93JDi8ydMT1slnqQ==

Listen to our previous episode on cybersecurity: https://listentoscott.com/podcasts/practical-strategies-for-protecting-retirees-against-scams-fraud/

Download the cybersecurity checklist: https://listentoscott.com/wp-content/uploads/2024/06/PDF-Download-for-Website-Cyber-Security-Checklist.pdf

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Most people think retirement planning is all about the numbers. Will the assets I have accumulated – 401k/IRA, Social Security, real estate, pension, etc. – provide enough income in retirement to fund my lifestyle? Once you reach retirement, you’ll quickly realize there’s much more to preparing for the next chapter of life. Today we’re going to share seven habits that studies show can improve your satisfaction in retirement.

Here’s what we cover in this episode:

0:00 – Intro

4:55 – #1: Work at staying healthy

8:07 – #2: Strong social connections

9:18 – #3: Sense of purpose

10:49 – #4: Never stop learning

14:30 – #5: Be optimistic

17:50 – #6: Practice mindful gratitude

20:20 – #7: Have a pet

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Retirement is a journey, and like any journey, it has its phases. Understanding these phases is crucial to ensure that you can enjoy your golden years without financial stress. In this episode, we’ll take you through the the essential stages of retirement planning: the go-go, slow-go, and no-go years.

Understanding these three stages will help you effectively manage your finances as you determine how much income you’re going to need along the way. This often overlooked dynamic of retirement planning will help ensure a comfortable and secure retirement so let’s take a closer look at each phase.

Here’s what we cover in this episode:

0:00 – Intro

3:30 – An overview of spending

8:19 – Spending by age data

15:40 – Longevity planning

19:18 – Rhino story

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

The long process of writing a book has finally wrapped up for Scott and we’re excited to be rolling it out very soon. In anticipation of the launch of Exceptional Retirement: Tools and Strategies for Retiring On Your Own Terms, we wanted to share some background on the book, the chapters that we think you’ll like most, and the personal stories that influenced our approach.

Our approach is all about personalizing your retirement, which is why we emphasize that every individual has unique needs, desires, and challenges when it comes to retirement. The book addresses the four fundamental questions that haunt future retirees: When can I retire? Do I have enough money? Will my money last? And, am I going to be okay?

Join us for another episode of the show and find out everything you need to know about the book.

Here are some of the questions we’ll tackle in this episode:

Scott learned a lot about himself through this book-writing process.
Why he picked tools and strategies as the theme and focus of the book.
The book strives to answer four big questions people have about retirement.
The personal experiences he pulled from when writing the book.
The key chapters and takeaways we think readers will enjoy most.

Check out the book and get your free toolkit here: https://keap.page/bu413/toolkit-page-1715718291057.html

Each generation is currently navigating a unique part of the retirement planning experience. With many baby boomers preparing for the transition into retirement and the early half of Generation Z taking their initial steps into the career field, these major life events come with a handful of financial planning questions.

In today’s episode, we’ll share insights into the unique concerns that echo across different age groups. These are the retirement questions that every generation is asking.

Here’s some of what we’ll tackle in this episode:

Baby Boomers (1946-1964) are at or near retirement age and have many questions about how to best prepare.
Generation X (Approximately 1965-1976) is at a stage where retirement planning is becoming increasingly important.
Millennials (Approximately 1977-1995) are at various stages of their careers and find themselves navigating a range of retirement-related uncertainties, from saving strategies to the evolving landscape of retirement benefits.
Gen Z (Approximately 1996-2015) is at an early stage of the professional and financial journey, leaving many with questions on how to get started.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Are you prepared for the unexpected turns your retirement might take? In this episode of Your Retirement Elevated Podcast with Scott Dougan, we explore the surprising findings from a study by the Transamerica Center for Retirement Studies. The study reveals a stark contrast between pre-retiree expectations and retiree realities, and we're here to explore the nine most common retirement surprises that await.

One of the most comforting surprises is that many retirees worry less about money than they anticipated. It seems that once the retirement plan kicks into action, the stress over finances begins to wane. This is a heartening revelation for those lying awake at night fretting over their financial future.

The takeaway from our episode is clear: retirement requires planning, flexibility, and an open mind. Whether it's adjusting travel plans or having those tough financial conversations, being prepared for the unexpected is key to a fulfilling retirement.

Here are some of the questions we’ll tackle in this episode:

Why do retirees worry less about money and how does planning play a role?
What causes many to retire sooner than expected and how abrupt is the transition?
How does the reality of travel in retirement differ from the expectation?
Why is discussing finances still taboo and what impact does that have on legacy planning?
Do most retirees wish they had saved more, and what can you learn from their experiences?

Resources for this episode:

The Retirement Manifesto’s 9 Retirement Surprises

https://www.theretirementmanifesto.com/9-retirement-surprises/

Transamerica Center for Retirement Studies

https://www.transamericacenter.org/

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Ever found yourself endlessly scrolling through options, unable to make a choice? You might be falling into the trap of FOBO: Fear of Better Options. It’s a psychological phenomenon where someone avoids making a decision out of the fear that there may be a better option out there. How can we identify it and work with it and make better decisions and actually get to the decision point? That’s what we want to discuss with Scott today.

Here are some of the questions we’ll tackle in this episode:

What is FOBO and how long has this behavior been around?
People can be divided into two groups when it comes to decision-making: maximizer or satisficers.
Commitment is the key when making financial and lifestyle decisions.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Are you ready to flip the switch from saving to spending as you approach retirement? Many people struggle with the transition and mindset shift that happens in retirement. In this episode, we’ll explore the delicate balance between money, happiness, and the art of spending wisely in your golden years. It's packed with insights on the psychological shift required to enjoy the fruits of your labor, the impact of past experiences on spending habits, and how to use money as a tool for a better life rather than a measure of status

Here are some of the questions we’ll tackle in this episode:

Money is a tool to live a better life and we all view it differently.
How influencers and marketers can play a huge role in our perception of money.’
People set out to make a strategy to achieve a better life but that turns into an ideology they’re beholden to.
How your childhood and early life can shape your view of money.
We want to use the money we’ve saved to enhance our lives and experiences.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

On today's episode, we're going talk about scams and how they are more prevalent than you might think. In fact, just in 2022, there were more than 88,000 complaints of fraud that resulted in more than $3 billion in losses from people age 60+.

Here are some of the questions we’ll tackle in this episode:

Why are people aged 60 and over common targets?
The top five scams that constitute 65% of the complaints.
The ‘Can You Hear Me’ scam that is easy to fall for.
What steps can you take to protect yourself and increase your cybersecurity?

Additional resources:

https://www.ncoa.org/article/top-5-financial-scams-targeting-older-adults

https://www.ncoa.org/article/how-older-adults-can-improve-their-personal-cyber-security

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments.

Here's what we discuss in this episode:

What are we talking about when we say, “lazy money?”
The current interest rate landscape + why people end up with too much lazy money in their portfolio
Addressing excess lazy money by calculating a "war chest,” understanding your income plan, and fine-tuning investments
Achieving a “Goldilocks” allocation of assets that is just right for your financial goals

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Today's magic number is 65. You know, unlike older retired Baby Boomers, the majority of peak 65ers don't have pensions, which used to help fill that gap left by Social Security. Well, our current retirement system is obsolete. It's time for a new retirement security framework. These were the words of Jason Fitchner, an executive director at the ALI Retirement Income Institute, and it highlights a great conversation that we're going to dive into today.

Here are some of the questions we’ll tackle in this episode:

One of the concerning trends emerging right now is the lack of sufficient guaranteed income.
Why the reliable three-legged stool of retirement income isn’t as sturdy now.
The biggest concerns among this Peak 65 group when it comes to retirement.
Examples of planning discussions we have with clients to work through some of these issues.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

With inflation adjustments and the phased implementation of the SECURE Act 2.0, there are some important retirement planning changes to pay attention to this year. From potential tax implications on Social Security benefits to alterations in retirement account rules, higher Medicare expenses, increased IRA contribution limits, and shifts in required minimum distributions (RMDs), this episode offers a comprehensive overview of what lies ahead for retirees in 2024.

Here’s some of what we discuss in this episode:

An increasing number of beneficiaries are expected to be liable for federal income taxes due to the 8.7% increase in the cost-of-living allowance in 2023
Changes to retirement account rules, including 529 accounts, Roth 401(k)s and 403(b)s, and a 3.2% COLA for Social Security benefits
Rising Medicare expenses, including increased Part B rates, higher Part D premiums, and additional costs for higher-income individuals
The new IRA and Roth IRA limits for 2024 + changes in income limits for Roth IRA contributions based on filing status
The deadline to contribute to an IRA in 2023 and 2024
Changes in Required Minimum Distributions (RMDs) for retirement accounts in 2024 under the SECURE Act 2.0

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Happy New Year! Today we’re tossing the old hat of resolutions out the window, opting for something with a little more staying power: systems. Say goodbye to the fleeting motivation of New Year's resolutions and embrace the profound impact of incremental habits for long-term success in health, wealth, and personal growth. This episode draws on the life-changing principles of Atomic Habits by James Clear and is filled with personal anecdotes, actionable advice, and a practical guide to cultivating a lifestyle of consistent progress.

Here are some of the questions we’ll tackle in this episode:

Progress over perfection will win out over time.
Define the type of person you want to become.
Create the right environment for success.
The two-minute rule and why it can help you overcome the hurdle of getting started.
Focus on daily wins.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

What would you pay to have the freedom to do what you want, when you want, how you want? On today's episode, we're going to talk about the five types of wealth and why people chase only one at the cost of the others.

Here are some of the questions we’ll tackle in this episode:

Why being a time billionaire might be better than being a dollar billionaire.
The importance of protecting your time and what Scott has done to protect his.
Physical health and mental wealth go hand in hand.
Relationship wealth helps guard against the poverty of loneliness.
How to become wealthy in skills and how does that translate to money.
Having wealth isn’t just about having money but being able to do what you want when you want.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Get ready to rock to the rhythms of retirement wisdom in this week’s episode! We've put together the ultimate retirement planning playlist, featuring timeless lyrics that reflect various stages of the planning journey.

Here’s how we’ll craft the perfect mixtape in this episode:

Songs for the early stages of retirement planning, where having a dream is a good place to start.
In retirement planning, having a financial professional and your loved ones by your side is crucial.
Songs to remind you that, in retirement planning, consistency and patience are key.
Songs that provide reassurance during times of uncertainty in the retirement planning process.
You've reached the finish line, but this is only the beginning. Here are some songs to help you navigate the momentous transition into retirement.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Ready for an adventure? Think of retirement planning as climbing a mountain. It's not just about the climb up; it's about preparing wisely, tackling the ups and downs, and even planning your way back down.

Here’s some of what we’ll discuss in this episode:

How to prepare for the climb with careful planning.
The climb represents the accumulation phase where you’re actively saving and investing.
The goals and milestones that you strive for before reaching the peak.
Preparing for the volatility that comes with the climb.
The descent or distribution phase requires just as much caution.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

We’re bringing you a special edition of the podcast today as we welcome Cortney Dale, CEO of Sunflower Insurance Solutions, to lead us through the latest updates on Medicare! She’ll discuss what's crucial for you to know as we approach 2024 and answer common questions that will help you make informed decisions about your Medicare elections in the months and years ahead. Listen in as she breaks down its four parts (A,B,C,D) and how they work together, coverage, enrollment periods, and more!

Here’s some of what we discuss in this episode:

When can I sign up for Medicare, and what's the initial enrollment period?
What Medicare covers and what it doesn’t + The coverage of Medicare Parts A and B and the costs associated with them
What options are available to fill the 20% Medicare coverage gap?
The big difference between Medicare Supplemental Plans and Medicare Advantage Plans
What is Medicare Part D?
Can dental, home health care, and cancer coverage be added to Medicare?

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Do you ever wish you could foresee financial missteps before they happen? On today’s episode, we’re going to explore some real-life stories of regret and arm you with the do’s and don’ts to ensure that your money is working for you and not against you.

Here’s some of what we’ll discuss in this episode:

What it could cost you to pull money out of your IRAs early.
People often fall into the trap of ‘lifestyle creep’ and will increase expenses as they make more money.
What options do you have to cover rising tuition costs so you don’t ruin retirement?
Getting out of the workforce too early can hurt you in a variety of ways.
People will often wish they had utilized Roth accounts more.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

In this episode, we’re going to unearth and tackle some of these hidden but essential questions about retirement. We all want to get good answers to our financial questions, but sometimes we have to know the right questions to ask.

Here are some of the questions we’ll tackle in this episode:

How much are my tax-deferred savings going to cost me in taxes come retirement?
How much can I withdraw from my savings each year?
Should I still have life insurance when I’m retired?
What kind of medical coverage will I need over and above Medicare?
How much am I really paying in fees and commissions?

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

There are some people who don’t care at all about leaving a financial legacy, but for those who do, it’s important to eliminate some of the common estate planning mistakes.

In this episode, we cover topics ranging from poor expense planning to outdated beneficiary designations and family conflict triggers. We also shed light on some misconceptions about transferring real estate and explain the impact of tax implications on your estate. If you want to leave a legacy without regret or legal turmoil, this episode is a great starting point.

Here's some of what we discuss in this episode:

• For expenses that are significant but not frequent, we don’t know exactly when we’ll encounter them, but we know that they’ll happen eventually, so we need a plan for them.

• Too many people make the mistake of failing to update beneficiary designations and it can cause some big problems.

• Communication is key for everything we do and estate planning is no different. It’s best to make sure your loved ones know your wishes.

• Why it’s usually best to transfer real estate at death rather than while you’re still living.

• As always, we need to pay attention to the tax implications of the estate and we’ll share some of those.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Are you nearing “retirement age?” If so, let’s explore that pivotal question you’ll soon face: Should you retire or continue working? We’ll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you’re truly ready to retire.

Here's some of what we discuss in this episode:

The concept of retirement has evolved significantly over time, from a time when people worked until the end of their short lifespans to the modern idea of retirement with longer life expectancies.
The three categories of people looking for retirement advice: those seeking confirmation, those who are confused and those who are concerned.
Retirement planning involves identifying your retirement goals, understanding why those goals matter, and creating an action plan to achieve them.
For those who may not be financially prepared for retirement, a thorough financial plan can help provide clarity on the current situation, realistic possibilities, and potential adjustments to improve retirement readiness.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Today we have a special edition of the show where Scott recently hosted a webinar for his clients and had Mike Sorrentino on to discuss some financial topics that are top of mind for many people right now.

This conversation comes in the wake of the midpoint of 2023, sort of a mid-year or halftime report, if you will, and the topics that you're going to hear from this webinar include the housing market, inflation, stock market, and a few predictions for the rest of the year.

Here's some of what we discuss in this episode:

A look back on Mike’s predictions for early 2023 and how they’ve turned out.
Thoughts on why we aren’t in a recession right now.
Mike explains why the housing market data is positive by looking at supply and equity. Inflation is coming down but what does that mean for spending, interest rates, and wages?
Opportunities in the market moving forward.
Why he thinks there’s a lot to be excited about.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Our whole practice revolves around helping people develop ways to make sure they have everything in order when it comes to these five areas of financial planning. Today we’re going to dive into these and provide a little more detail so that you’ll have a better understanding of what types of conversations we’re having with clients.

We’ve also put together this PDF for you that gives you a nice breakdown of all five:

https://listentoscott.com/wp-content/uploads/2023/08/5-Key-Areas-PDF-for-Website.pdf

Here's some of what we discuss in this episode:

Income planning might be the most important because without a paycheck in retirement, it won’t be much of a retirement.
Why we say investments are the servants of the plan.
We want to develop a tax plan because the IRS will do it for us if we don’t.
One of the first ways we help you protect what you’ve built is through healthcare planning.
What we want to make sure you address in your estate and legacy plan.

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

In this episode, we’ll explore many of the expenses in your life that might drastically change (one way or another) in retirement. We’ll break those expenses down further to see which ones are the top priorities and analyze some of the other factors that impact your cash flow in retirement.

Here's some of what we discuss in this episode:

Breaking retirement down into three phases to better understand spending. (4:49)
What are the expenses that change the most in retirement? (8:27)
The essential expenses vs discretionary and how to account for those. (14:10)
Taxes are often a big factor in cash flow problems in retirement. (14:10)
How our planning process helps clients manage cash flow. (19:10)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Celebrate the spirit of July 4th with our latest episode as we tackle the concept of Financial Independence. While the American colonists fought for freedom from British rule, we’re here to discuss what you’re striving to be independent from in your retirement. We’ll unveil the common foes you’ll face on the journey. And good news, no muskets are required for these battles.

Here's some of what we discuss in this episode:

How to get independence from the government. (4:09)
How to optimize your Social Security benefit. (6:30)
How to get independence from your family and needing their help. (8:47)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Have you ever wondered why you handle money the way you do? It turns out your financial behaviors can be traced back to your formative memories. In this episode, we explore how historic market crashes have left a lasting impact on our relationship with money. We’ll also contrast them with the way more recent crises have shaped our financial views and decisions in the short term.

Here's some of what we discuss in this episode:

Remembering soaring interest rates in the late 70s, early 80s, and right now. (6:55)
Remembering Black Monday in 1987. (9:20)
Remembering the Great Recession of 2008. (13:23)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

In this episode, we'll be debunking common myths about Social Security and answering the questions you've been curious about. No matter what questions you have about Social Security, we are here to help guide you through this important step in your financial future. Today’s show should give you a pretty good overview.

Here's some of what we discuss in this episode:

Myth: The Social Security Administration will help you make decisions. (3:49)
Myth: You won’t pay taxes on Social Security. (8:04)
Myth: You should claim Social Security as soon as possible. (12:49)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

You can’t talk about retirement without talking about income. There are seven streams of income you need to know about. In today’s episode, we’ll break them down for you and help you understand the pros and cons of each one. Join us for a critical discussion on creating a reliable, dependable income source in retirement and discover the importance of having a diversified financial plan.

Here's some of what we discuss in this episode:

Earned income is the most common type of income. (3:50)
Interest income is a form of passive income. (9:09)
Business income is one of the best ways to have wealth. (19:16)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

The Federal Deposit Insurance Corporation (FDIC) has been in the news recently as bank failures have made headlines. It's worth noting that the FDIC insures deposits up to $250,000, providing peace of mind to depositors who may be concerned about the safety of their funds. However, you may be wondering if your IRA is also protected by the FDIC, especially in light of recent news coverage. In this episode, we’ll answer your questions about banking, FDIC, IRAs, and more. Stay tuned as we cover the five facts that you need to know.

Here's some of what we discuss in this episode:

Not all IRAs are protected by FDIC insurance. (3:06)
IRA deposits are insured separately at each institution. (4:22)
Your IRAs are insured separately from other deposits. (5:35)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

How do millionaires invest their money? If you’ve ever wondered how they do it, today’s show is for you. From asset allocation to market timing and security selection, we’ll explain how millionaires handle these topics.

Here's some of what we discuss in this episode:

How do millionaires handle asset allocation? (5:09)
Do millionaires time the market? (8:38)
How do millionaires diversify their investments? (11:08)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Entrusting your life savings to a financial advisor requires careful consideration and due diligence, especially when it comes to managing large IRAs. Before handing over your hard-earned nest egg, it's crucial to ensure that your advisor possesses the necessary expertise and experience to handle the responsibility. To help you navigate this, we've compiled a list of ten crucial questions to ask your advisor about IRAs.

Here are a few of the questions we’ll highlight in today’s episode:

IRA distribution planning requires specialized knowledge. Do you have expertise in this area? (8:07)
What professional training do you have in IRA distribution planning? What courses or programs have you taken? (10:40)
What is the latest IRA tax rule you are aware of? When did it occur? (15:25)
Who do YOU turn to when you have questions on IRA distribution planning? No one can know it all. (19:30)

How America Invests Vanguard Study:

https://corporate.vanguard.com/content/dam/corp/research/pdf/How-America-Invests-Advisor-US-FASHAIFR.pdf

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

As you have likely heard, the Silicon Valley Bank collapsed on Friday, March 10th, 2023, after a bank run- marking the largest bank failure in the U.S. in over a decade. With a lot of fear surrounding this topic, we are here to focus on the facts and give you a better understanding of what we know today.

Here's some of what we discuss in this episode:

What we know about the Silicon Valley bank failure right now (2:57)
Unpacking why this SVB crisis happened and what sparked the bank run panic. (11:05)
The five keys points you want to keep in mind before panicking about this event. (17:48)
While there is a lot of fear and panic instilled by the media right now, it is rare to go a year without a new bank failure.(20:30)
Two important questions to help you evaluate what you hear in the media (22:17)

Read Mike Sorrentino's rundown of the SVB collapse:

https://listentoscott.com/wp-content/uploads/2023/03/Bank-Run-PDF-for-Web.pdf

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Today’s show is going to feel like a healing therapy session. We're talking about how things could always be better. From human progress and value to happiness, we’ll cover some fascinating topics today.

We are not psychologists or therapists, but we are fascinated by the human mind and the need to improve. It happens in all facets of our lives, but money always seems to drive that desire to want more.

Here's some of what we discuss in this episode:

How have you made financial decisions in the past? (2:01)
Despite the negativity in the world, we are positive about trying to improve. (10:14)
Why do we pursue improvement? (11:42)

See the studies here: https://experimentalhistory.substack.com/p/things-could-be-better

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

If you’re thinking about retiring early, you’ll need to take a few extra steps in the planning process because you’ll be facing some additional challenges. But there are ways to navigate this by looking at all of the income options at your disposal.

On today’s show, we’ll share Scott’s top do’s and don’ts of six secret sources of come. So much of your success will depend on your income plan and this episode will lay out some ways to get ahead.

Here's some of what we discuss in this episode:

How to deal with anxiety and uncertainty about early retirement. (2:23)
How to make withdrawals from your plan if you’re a public safety employee. (7:30)
How SEPPs can help you tap into accounts. (10:24)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

We’ve got a special edition of the podcast today, and it’s one you’re going to want to listen to. We’ve already spent some time on this show discussing SECURE Act 2.0 and we highlighted many of the planning opportunities it has created. But this is such an important piece of retirement legislation so we’re going even more in-depth on the subject.

In this episode, we are sharing a webinar we hosted about SECURE Act 2.0. And, spoiler alert, we get a little angry about the topic and go in attack dog mode. Get ready for it.

Here's some of what we discuss in this episode:

Why we went in attack dog mode about this topic. (0:50)
Big highlights of the SECURE Act 2.0 (15:46)
What changes we’re excited about. (29:23)

Watch the webinar: https://7fu676u8.pages.infusionsoft.net/?cookieUUID=02950531-d018-4d59-a98a-61bab700e137&affiliate=0

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

A new year means many of us are looking for ways to improve our financial lives in 2023.

Today we’re sharing a great checklist to give you areas of focus in order to be better prepared financially. If you’re nearing retirement, these are questions you want to think through and have a plan for before you make that transition.

We’ll also share some important birthdays for financial planning and make sure you know about the items that will impact you at specific ages.

Here's some of what we discuss in this episode:

Do you anticipate changes to your investment goals? (5:43)
Do you want to help children or grandchildren with college? (10:27)
When should you do Roth conversions? (11:52)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

We’ve gone through all of these different SECURE 2.0 Act provisions, which touch on a range of planning items and dates so that you can really focus on what’s most important. This episode will help you get a better understanding of the changes, how they might impact you, and what planning opportunities you need to be aware of.

Here's some of what we discuss in this episode:

More changes again to the required minimum distribution ages. (7:16)
Elimination of RMD requirements for Roth 401(k) plans. (12:31)
Reduction in penalty for missing your RMD withdrawal. (14:16)
Catch-up contribution changes. (15:52)
The ability to roll 529 plan into a Roth. (18:22)
Employer can make a deposit into an emergency savings account for employee. (26:38)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

It’s time for another mailbag episode, and we bet these questions (and our answers) will help many of you. This episode could really help if you’re looking to improve your financial situation and prepare for retirement.

We will discuss whether to pay off your mortgage, what to do about dividends, and whether to prioritize paying for college or saving for retirement. Listen to hear some of the questions our listeners have, and maybe you’ll gain some valuable knowledge from our answers!

On this episode, we’ll share:

Should you pay off mortgages of two rental properties? (1:44)
Should you reinvest if you have dividends? (6:24)
Should parents focus more on retirement or paying for college? (8:47)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

It’s time to focus on the end of the year, especially taxes, which are a big topic of conversation. We spotlight this topic every December because it’s just that important.

We do a year-end tax event each year and produce a white paper because having the right strategies to limit your tax bill can help reduce some of the anxiety around tax time. Some people stress about doing their taxes. If you’ve ever received a letter from the IRS, you know what that anxiety is like.

On this episode, we’ll share:

Why we’re sitting at very low tax rates and how that could change. (7:36)
Whether you should do itemized or standard deductions. (11:10)
Why you need to get a 2022 tax projection. (13:26)

PDF:

End of Year Tax Strategies PDF - Downloadable for Website.pdf

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

Do you have seller’s remorse? If you sell a stock and then regret it later, this might be you. We love talking about the behavioral side of finances and investing, and today’s show is all about that.

The economy and markets have had a rough time this year, so we’ve seen more regret among investors who led with their feelings instead of facts.

On this episode, we’ll share:

The behavioral side of finances and investing. (1:06)
What’s high in terms of historical interest rates? (6:17)
How people almost fell asleep on stock market volatility. (12:48)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

What’s in your control, what’s outside your control, and how do those things influence your decision-making in your financial life? For instance, inflation is surging, the markets are down, and political warfare is holding strong.

But rest assured, there are aspects you are still definitely in control of. We’ll explain how facts and logic are better tools than emotions, myths, misconceptions and misinformation.

On this episode, we’ll share:

Should you just ignore the things you can’t control? (2:50)
What’s out of your control? And what can you control? (4:42)
The best way to start your day. (15:18)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

It’s time to celebrate our 100th episode of Your Retirement Elevated with Scott Dougan! For this milestone episode, we thought we’d mix things up a bit with a look back at some of the best lessons from the past few years of podcasting.

Scott’s a great storyteller; it always makes financial planning more relatable when we can tie it into a story about our past or everyday life. So, we’ve gone back through the past 100 episodes, pulled our Top 6 favorite stories, and trimmed each one into a bite-sized piece.

Enjoy these stories as we celebrate episode 100 and gear up for 100 more:

7: Holiday Ham and Running Out of Money (1:43)
14: Redefining Retirement (6:04)
30: This Is It. This is the End of Everything. (9:32)
63: Don’t Make These Assumptions About Retirement (12:35)
72: 4 Financial Questions We Get Asked All the Time (15:07)
78: Time is Undefeated (18:39)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

There are a couple different ways to view taxes – through micro and macro lenses. You’ve probably heard of micro and macro economics, but today’s show is all about preparing for tax season.

Here’s some of what you’ll learn on this episode:

Why you have to consider variables in tax planning. (6:01)
Why you need to keep the conversation going about your taxes and how often we should meet. (9:12)
Our final thoughts about this crucial topic for your finances. (13:30)

Want to connect with us?

https://listentoscott.com/

https://elevatemyretirement.com/our-team/scott-m-dougan/

913-393-4724

This topic of taxes is such an important one, especially when it comes to retirement, because the more you pay in taxes, the less income you’ll have to spend. By exploring the five ways taxes can rise, we can help prepare you for what might happen and then discuss the ways to protect yourself.

Here’s some of what you’ll learn on this episode:

Your taxes in retirement could do one of three things. (5:46)
What could lead to you changing tax brackets in retirement. (10:00)
The possibility of deductions being eliminated could impact you a lot. (13:33)
Assets could get taxed differently in the future, such as Social Security. (15:33)
What else can you be doing now to protect yourself for higher taxes. (21:30)

Get the PDF on higher taxes: https://listentoscott.com/wp-content/uploads/2022/09/PDF-Higher-Taxes-INCLUDE-IN-WEB-POSTING.pdf

For more, visit us online: https://listentoscott.com/

What is your income personality? Today we’re discussing two types and what they mean – probability vs. safety first. Find out which one you are.

Key topics on this episode:

2:36 – Two schools of thought

5:19 – Your preference

7:12 – Risk

8:53 – Optimization planning

For more, visit us online: https://listentoscott.com/

Today we’re talking about the four stages of retirement. We want to break it down in an easy-to-understand way to help you prepare for this huge milestone in life.

Key topics in this episode:

2:58 – Anticipation

4:27 – Liberation/disorientation

6:21 – Reinvention

10:47 – Reflection/resolution

13:00 – Legacy

15:43 – Personality groups

For more, visit us online: http://listentoscott.com

Our entire episode today is based on a meme that says: “You haven’t experienced true heartbreak until you've measured out a single serving of peanut butter.” It can be pretty depressing to see how what 200 calories of peanut butter really looks like, but we’ll tie it all into expense planning.

Key topics on this show:

1:45 – Peanut butter

5:54 – Expense planning

8:34 – Itemized expenses

9:36 – Travel and experiences

11:10 – Psychological

Read more and get additional resources here: http://listentoscott.com

Have you heard about the new popular investment, I bonds? What are the pros and cons surrounding these bonds and are they the right fit for you?

More on I Bonds: https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm

Key topics on this show:

1:31 – What kind of questions are we getting?

2:22 – Breaking down the I bond news

4:21 – How should we approach understanding these?

5:32 – How does the return work?

7:08 – What are the pros of I bonds?

8:55 – What are the cons of I bonds?

12:23 – I bonds must be held for one year

15:10 – Is this worth it for you?

Read more and get additional resources here: http://listentoscott.com

Anytime you meet with a financial advisor, you need to determine if your plan needs more review. On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re sharing the five critical questions you need to ask.

Key topics on this show:

3:58 – Vacation now or later

6:17 – Adequate review

9:36 – Tax plan

12:00 – Income and liquidity

13:59 – Risk

15:34 – Heirs

Read more and get additional resources here: http://listentoscott.com

The ability to delay gratification – people who have this quality are more likely to succeed than any others, according to a study. Today we’ll share how this can help with your financial life.

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

2:44 – Marshmallow study

7:56 – Our clients

9:20 – More about the experiment

Today’s show is a fun one. Bias is one of our favorite topics, and cognitive bias is fascinating, especially as it relates to money. Find out what these biases are and how to implement more rational thinking into your life.

Article discussed today: https://www.visualcapitalist.com/50-cognitive-biases-in-the-modern-world/

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

1:38 – Bias is a favorite topic

3:50 – Dunning-Kruger effect

6:19 - Anchoring

8:16 – Google effect

12:55 – Zero-risk bias

13:37 – Ikea effect

16:21 – Blind spot bias

The stock market has been on the decline. But is this normal, or is this time different? How should we handle the drop? We’ll share what advice we give clients and how you can handle the ups and downs with confidence.

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

2:00 – Why is the market going down?

5:36 – Volatility is quicker

9:02 – Upward trend

11:59 – Final thoughts

A recent USA Today article pointed out three murky issues that increase retirement planning’s degree of difficulty, especially in today’s economic climate. On this episode, we’ll breakdown the article to see if the murky issues are actually that threatening, and what you can do about it if you’re concerned.

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

2:38 – Income growth

8:13 – Social Security

10:52 – Withdrawal rates

17:20 – Data and variables

After listening to today’s episode, you’ll never attend another baseball game with the family and look at it the same way. We’re going to show you how taking some of baseball’s most basic principles can also lead to financial success in your retirement portfolio. So, grab your peanuts and crackerjacks and let’s take the financial field.

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

2:31 – Home runs

4:26 – Appearances

8:12 – Five-tool players

11:59 – Coaching

We’ve had no shortage of bad news in the news lately, but don’t panic. Remember, this too shall pass. We’ll share how we walk with clients through troubling times and keep their finances in order

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

1:20 – Crisis du jour

3:22 – Focus, not fear

6:55 – Can’t speculate

9:11 – Fear

10:31 – How we help

Planning for retirement is relatively complex. There are a lot of different moving parts and factors to consider. Adjusting any of these variables can impact the end result. But is there one part of the retirement planning process that’s most important?

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

2:07 – Deciding what you do

5:09 – Start now

6:15 – Income

7:55 – Spending

9:20 – Portfolio allocation

11:14 – Fulfilling retirement

15:23 – The right advisor

19:09 – Most important

There are some things in life you can’t predict, but you can try to plan for them. For example, when is the next market crash going to happen? We don’t know, but here’s how you can prepare for this and other things in your financial life.

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

3:01 – Market crashes

6:57 – Health care

11:19 – Taxes

13:42 – Life expectancy

On this episode, we’ll breakdown a CNBC article that analyzes a recent Morningstar study. The study found that most of us have at least one money bias, some of us more than one, and that those biases are very possibly costing us money in our checking, savings, investing and retirement accounts. Listen to see if you might be impacted by a specific money bias and for strategies to get it back under control.

Read the CNBC article: https://www.cnbc.com/2022/01/14/98-percent-of-americans-have-at-least-1-money-bias-study.html

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

2:45 – Key points of the article

4:14 – Four main biases

8:25 – Low bias, better financial health

10:07 – Solutions and priorities

13:27 – Biases we see

Today’s show is a special edition. We recently held a webinar with other financial advisors to talk about the state of the markets in 2022. We’ll get you up to date on stock market volatility and provide some perspective on the economy.

Read more and get additional financial resources here: http://listentoscott.com

What we discuss in this episode:

3:02 – Quotes

7:37 – Politics vs. policy

13:30 – The economy

15:14 – What drives the stock market

18:20 – Great resignation

21:32 – Inflation

24:28 – Financial markets

26:39 – Crypto currencies

28:58 – Economy is slowing

32:21 – Has inflation peaked?

35:09 – Rising interest and stocks do well

40:11 – Realistic expectations

If retirement is on your mind, then listen up. Today’s show is a 5-part checklist that’ll help measure if you’re in good financial health and set yourself up for retirement success.

What we discuss in this episode:

1:53 – Spend less than you make

2:47 – Future tax implications

5:06 – Know your retirement plan

6:54 – Retirement income plan

8:07 – Don’t worry about financial future

10:14 – Bonus sign

Read more: https://listentoscott.com/episodes/

You might not be able to follow through on all 22 of these resolutions, but implement even just a few of these and you’ll be well on your way to a more prosperous financial life in the coming year.

Read more and get additional financial resources here: https://listentoscott.com/podcasts/22-money-resolutions-for-2022/

What we discuss in this episode:

5:43 – Reducing debt

6:10 – Boost savings

6:39 – Prepare for unexpected

7:23 – Don’t overreact

9:02 – Budget

12:23 – Meet with a financial advisor

14:26 – Check beneficiaries

14:37 – Tough conversations

15:18 – Refinance

15:05 – Audit insurance

15:45 – Organize

16:16 – Check credit

16:40 – Check fees

16:58 – Share knowledge

18:38 – Give back

19:00 – Review tax brackets

19:16 – Roth conversion

19:39 – Update paycheck withholdings

20:15 – Rebalance portfolio

20:28 – Transition to retirement

21:38 – Consolidate accounts

23:00 – Listen to our podcast

Few people can pronounce “fiduciary” correctly, let alone describe it and explain how it impacts their world. It is a really important thing to grasp and be able to explain. So today, we’ll discuss what it means to be a fiduciary and some questions you can ask your financial advisor.

Read more and get additional financial resources here: https://listentoscott.com/podcasts/what-is-a-fiduciary-and-why-do-you-need-one/

What we discuss in this episode:

1:03 – How to pronounce fiduciary

2:33 – Your best interests

8:30 – How to spot fiduciaries

10:29 – Five questions to ask

As the end of the year quickly approaches, here are some last-minute tax issues you need to get in order before Jan. 1, 2022. Find out how RMDs, charitable contributions, and more could impact your taxes.

Read more and get additional financial resources here: https://listentoscott.com/podcasts/what-to-know-about-end-of-year-taxes/

Check List: Click Here

What we discuss in this episode:

3:47 – Required minimum distributions

5:01 – New legislation

5:59 – Contributions

6:48 – Tax review

8:17 – Qualified charitable distribution

9:47 – Estate planning, FSA, etc.

Time is undefeated. Nobody outlasts time. One of the big questions that people have, when they seek our advice, is: Will we be OK financially and have money for the rest of our lives? We’ll let you know what steps you must do to get there.

Read more and get additional financial resources here: https://listentoscott.com/podcasts/time-is-undefeated/

Jesse Itzler YouTube video: https://www.youtube.com/watch?v=jks1fjm3o_I

What we discuss in this episode:

1:33 – Time is undefeated

6:10 – Options shrink as you age

9:38 – Can we retire?

13:52 – Build your plan

In today’s world, the news is everywhere. How does this affect our brain and decision-making? Did you know that constantly obeying our ancient drive to focus on the negative can make us miserable?

Read more and get additional financial resources here: https://listentoscott.com/podcasts/your-brain-on-news/

What we discuss in this episode:

2:10 – Ground News

6:32 – How we got here

9:34 – Here we are

14:38 – Headlines

Overconfidence in your financial life can sometimes lead to destruction. Find out if any of these examples apply to you and why you can’t put too much confidence in any of these planning areas.

Read more and get additional financial resources here: https://listentoscott.com/podcasts/how-overconfidence-can-lead-to-financial-destruction/

What we discuss in this episode:

6:00 – Stock markets

9:05 – Managing your own portfolio

13:24 – A million dollars

14:31 – Rules of thumb

16:23 – Certain products

Today we’re sharing some wisdom from motivational speaker and coach Tony Robbins about the importance of feeding your mind. Find out five ways you can live your best post-pandemic life.

Read more and get additional financial resources here: https://wp.me/paeENs-cM

Watch Tony Robbin's video: https://www.youtube.com/watch?v=Aupn1QUSxdw&t=25s

Chili Recipe: https://www.meatchurch.com/blogs/recipes/texas-chili

What we discuss on this episode:

7:03 – Feed your mind

14:38 – Why am I around?

17:44 – Guard your mind

23:56 – Take care of your body

29:37 – Role model

31:26 – Massive action

31:53 – Give more

Believe it or not, Mick Jagger has dispensed a lot of retirement planning wisdom in his life. Granted, he didn’t mean for these statements to have anything to do with money when he said them, but we’re here to weave these quotes into a financial lesson.

Read more and get additional financial resources here: https://wp.me/paeENs-cA

What we discuss on this episode:

2:52 – The past

4:28 – Losing dreams

8:22 – Letting yourself go

10:27 – Satisfaction

There’s an old quote that says, “Age is the price of wisdom.” Today, we’re talking about how that applies to the financial world. Ask yourself, have you changed your opinion on money and saving for retirement as you’ve gotten older?

Read more and get additional financial resources here: https://wp.me/paeENs-cw

What we discuss on this episode:

3:30 – Changing perspectives

6:15 – Regrets

8:52 – Worry

11:50 – Legacy

15:11 – Risk

On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re sharing the four most common financial questions we get and how we answer them.

Read more and get additional financial resources here: https://wp.me/paeENs-cp

What we discuss on this episode:

3:45 – When can I retire?

5:55 – Do I have enough?

7:41 – Will my money last as long as I do?

8:34 – Will I be OK?

On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re talking about blind spots in your retirement. Most retirees and pre-retirees have them in their retirement plan – things they never knew they needed to be thinking about.

We’ll explain how each of these blind spots can cause problems.

Read more and get additional financial resources here: https://wp.me/paeENs-cl

What we discuss on this episode:

4:15 – Market downturn

6:43 – Inflation

8:40 – Medical costs

11:03 – Tax

13:50 – Looking for blind spots

Clients often ask us how long they need to keep important documents on file. Today, we’re sharing a checklist of what you need to save and why.

Read more and get additional financial resources here: https://wp.me/paeENs-ca

What we discuss on this episode:

7:15 – Taxes

8:54 – Health care

9:54 – Legal

11:13 – Assets and debts

12:55 – Other documents

Read more and get additional financial resources here: https://wp.me/paeENs-c2

What we discuss on this episode:

3:55 – What is long-term care?

8:20 – Self-insure?

10:43 – Traditional insurance and hybrids

16:13 – Life insurance retirement plan

19:23 – Recap

Is knowledge power? On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re exploring the topic of knowledge and what you do with it.

Read more and get additional financial resources here: https://wp.me/paeENs-bX

What we discuss on this episode:

2:05 – Knowledge is not power

6:40 – Knowing where to tap

12:12 – Critical lessons

14:05 – Executing a plan

15:30 – Prior knowledge not always an advantage

20:26 – Feeling comfortable and confident

On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re talking about a question that has come up a lot lately: What are you going to retire to?

Read more and get additional financial resources here: https://wp.me/paeENs-bP

What we discuss on this episode:

1:36 – What you are going to retire to?

6:17 – Struggling with retirement

10:06 – Silver linings

On this episode of Your Retirement Elevated podcast with Scott Dougan, we’ll explain the correlation between vitamin C and how it impacts your financial health.

Read more and get additional financial resources here: https://wp.me/paeENs-bF

What we discuss on this episode:

3:05 – Email from a client

5:31 – Always something to worry about

9:45 – No doom and gloom

12:45 – Guard your minds

14:28 – Emotions

SECURE Act 2.0, son of the SECURE Act, has come out and we'll explain what has changed, what you might like and what you might not.

Read more and get additional financial resources here: https://wp.me/paeENs-bA

What we discuss on this episode:

2:06 – SECURE Act 2.0

5:16 – Rothification of retirement

7:05 – Please some, frustrate others

10:22 – Collecting tax on the seed

12:22 – Increase RMD age

15:54 – Don’t get too wrapped up

On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re talking about some recent developments to the SECURE Act and what it might mean for you. Find out what we think about the news and how it could impact planning.

Read more and get additional financial resources here: https://wp.me/paeENs-bs

What we discuss on this episode:

2:42 – What is the SECURE Act?

6:34 – Withdrawing funds from retirement accounts

11:20 – Not the first big change

13:36 – Repercussions

There are some things you should never assume in the financial world, especially as you’re preparing for retirement. Find out if you’re getting any of these things wrong.

Read more and get additional financial resources here: https://wp.me/paeENs-bh

What we discuss on this episode:

7:41 – Spending less in retirement

9:26 – Lower taxes in retirement

11:12 – Helping children with college

13:34 – I’ll never retire

Today we’re talking about classic mistakes people make that can have long-term impacts on their retirement plan. Find out how to avoid the three P’s – panic, politics and performance chasing.

Read more and get additional financial resources here: https://wp.me/paeENs-bb

What we discuss on this episode:

1:39 – Emotional decisions

4:05 – Market drops

8:32 – Panic

12:35 – Politics

19:33 – Performance chasing

We often hear about frequently asked questions, but what are some questions that are not usually addressed in financial plans? We’ll explain what they are and why you need to know the answers.

Read more and get additional financial resources here: https://wp.me/paeENs-b0

What we discuss on this episode:

1:22 – Money falling through the cracks

2:56 – Tax returns

3:44 – Estate plans

6:00 – Lack of communication

10:36 – Making factual, logical decisions

14:00 – Questions you need to ask

14:36 – Tax-loss harvesting strategies

20:24 – Financial advisors can be your quarterback

23:50 – Virtual educational events

In part three of our estate planning series, we’re talking with attorneys Chris Gaughan and Casey Connealy about stealth taxes. They are sneaky taxes that we often don’t think about or know about but can really add up.

Read more and get additional resources here: https://wp.me/paeENs-aT

Part 1 on Powers of Attorney: https://wp.me/paeENs-aB

Part 2 on Wills and Trusts: https://wp.me/paeENs-aH

What we discuss on this episode:

2:19 – What are stealth taxes?

4:00 – Death taxes

7:57 – Individual retirement accounts

11:34 – Probate

14:09 – Delays and administrative fees

In part two of our estate planning series, we’re talking with attorneys Chris Gaughan and Casey Connealy about the difference between wills and trusts. Which one should you have, and what are the pros and cons?

Read more and get additional planning resources: https://wp.me/paeENs-aH

Check out part 1: https://wp.me/paeENs-aB

What we discuss on this show:

2:40 – What if you don’t have a will or trust?

5:34 – What is a will?

7:43 – What is a trust?

9:40 – Other reasons to use a trust

12:15 – Divorce protection

13:16 – Protecting children

14:12 – Money management concerns

14:59 – Children with special needs

15:56 – Should I have a will or trust?

19:33 – What do I do next?

21:16 – Contact Chris and Casey

In part one of our estate planning series, we’re talking with attorneys Chris Gaughan and Casey Connealy about powers of attorney. Do you need a power of attorney, how are they used and what are some common misconceptions?

Read more and get additional planning resources here: https://wp.me/paeENs-aB

What we discuss on this episode:

1:33 – What is estate planning?

2:35 – Two types of powers of attorney

4:09 – If you don’t have power of attorney

6:13 – What if you do have power of attorney?

10:19 – Misconceptions about power of attorney

13:36 – Validity of power attorney

15:12 – Make sure you have copies

16:44 – Who should have a power of attorney?

What is the health of your wealth? In other words, how healthy is your retirement plan? Today, we’re sharing what questions you should consider as you save for retirement.

Read more and get additional financial resources here: https://wp.me/paeENs-av

What we discuss on this episode:

2:52 – A new administration

5:20 – You may need to work longer

6:52 – Spend less, save more

8:09 – Are you going to work longer or adjust your lifestyle?

8:55 – Invest with a long-term approach

11:35 – Hybrid retirement

14:53 – Insurance, healthcare and taxes

The holidays are a natural time to show gratitude, but intentional gratitude all year long is just as important. On today’s episode, we’re talking all about gratefulness.

Read more and get additional financial resources here: https://wp.me/paeENs-ar

What we discuss on this show:

1:35 – Gratefulness

4:50 – Intentional gratitude

8:20 – Expressing gratitude

13:27 – Acts of kindness

19:06 – Reflecting

We all deal with unknowns in our lives, but beware of the unknown unknowns. Those will get you, according to former Secretary of Defense Donald Rumsfeld.

Read more and get additional financial resources here:

https://bit.ly/34sgcSF

What we discuss on this show:

2:16 – Known unknowns

4:37 – Unknown unknowns

9:09 – The election and pandemic

12:49 – Stay the course

15:55 – Being emotional about your savings

No matter how you feel about the 2020 election, it’s best to leave emotion behind when dealing with your financial future. Scott Dougan explains how he handles retirement planning in election season.

Read more and get additional financial resources here: https://wp.me/paeENs-ac

What we discuss on this show:

0:51 – Dealing with uncertainty

3:48 – Too much emphasis on one person

5:58 – Clients upset about election outcome

7:29 – What’s great about America

9:20 – Every change gives us opportunity

11:02 – How to define long-term

15:05 – Model good behavior

The election is upon us, and that brings up a lot of financial questions. We want to dedicate today’s show to answering some of those common queries.

Read more and get additional resources here: https://wp.me/paeENs-a5

What we discuss on this show:

1:18 – Confirmation bias

5:42 – What does the election really mean for investments?

6:34 – Are there Election Day implications for your investments?

10:09 – Should we be worried about delayed election results?

14:20 – Bogus info online

16:00 – The media

20:24 – Short-term versus long-term

22:58 – What if you’re taking money from investments?

24:58 – Final thoughts

On this episode of Your Retirement Elevated podcast with Scott Dougan, we explain why tax planning is so important, how the election could affect taxes and much more.

Consider this your end-of-year tax planning guide. Find out why tax planning is often a missing piece in people’s financial plans.

Read more and get additional financial resources here: https://wp.me/paeENs-9U

What we discuss on this show:

2:15 – Why tax planning is often a missing piece

5:38 – Itemization vs. standard deduction

7:48 – CPAs vs. financial planners

11:00 – Actions to consider before year end

15:29 – Making contributions next year

17:22 – Notable tax changes

20:42 – Other important tax considerations

26:11 – How the election could affect taxes

30:55 – Eliminating the step up in basis

Should I invest in gold? How will the election affect my financial strategy? Will a divorce tank my retirement? Scott answers these questions and more in today’s podcast.

Read more and get additional financial resources here: https://wp.me/paeENs-9M

What we discuss on the show:

1:38 – Will I spend more money in the first few years of retirement?

4:17 – Should I buy gold coins, gold bars, or no gold at all?

6:59 – Should I be investing differently since we have a national election coming?

8:47 – Can I overcome a divorce financially in my late 50s?

11:09 – Is it better to get a big tax refund or keep more money throughout the year?

12:47 – Should we renovate our kitchen or save more for retirement?

This year has been full of economic struggles and unknowns, but you shouldn’t have to face them alone. Find out how a financial advisor can help you navigate the uncertainty.

Read more and get additional financial resources here: https://wp.me/paeENs-9G

What we discuss on this show:

2:02 – The role of an advisor

7:55 – Hoping for best, planning for worst

9:40 – The battle between our ears

12:58 – Handling uncertainty

18:00 – Projecting forward

When planning for a successful retirement, you need think about your wealth as well as your health. On today’s podcast, Coach Rut shares advice for having a healthy retirement

Read more and get additional financial resources here: https://wp.me/paeENs-9y

About our guest: https://www.coachrut.com/

Connect with Coach Rut on social media.

Twitter - https://twitter.com/coachrut

Facebook - https://www.facebook.com/coachrut

What we discuss on this show:

1:00 – Special guest Coach Rut

3:42 – Health and wealth

6:30 – Emotion free, fact-based decisions

10:40 – Compound consistency

13:48 – Second half of life

16:30 – Advice to get on healthier path

21:30 – Assess where you are

24:20 – Key habits of people who focus on fitness

30:50 – Sleep apnea

34:03 – Staying healthy in retirement

36:09 – Being busy is a choice

39:39 – Coach Rut on social media

Do you know where your tax liabilities fall? You may not realize it, but your tax situation likely falls into one of four buckets, and you may have a little bit in each bucket. On this episode of Your Retirement Elevated Podcast, Scott Dougan explains what the four buckets are and why it’s important to know this information.

Read more and get additional financial resources here: https://wp.me/paeENs-9p

Read the whitepaper: https://listentoscott.com/wp-content/uploads/2020/09/Four-Buckets-PDF-For-Website.pdf

What we discuss on this episode:

1:30 – Tax liabilities

3:29 – Taxable bucket

7:10 – Tax-deferred assets bucket

10:08 – Tax-free bucket

In light of COVID-19 and how it’s affecting the economy, there’s an added incentive to move money into a Roth. Scott Dougan explains the process and the benefits.

Read more and get additional financial resources here: https://wp.me/paeENs-9k

What we discuss on this episode:

1:19 – How COVID affects retirement

3:01 – Big takeaway for future-proofing retirement

4:57 – No doom and gloom

6:57 – Getting out of debt

9:31 – Take stock of where you are

12:43 – How this could affect other investments

16:38 – Final thoughts

Have you been laid off close to retirement, or are you worried that might happen? Scott Dougan shares 10 steps to help you decide your next move.

Read more and get additional financial resources here: https://wp.me/paeENs-9d

On today's show:

3:45 – Keep calm and take it one step at a time

4:36 – Determine your living expenses

6:42 - Create an inventory of your resources

8:28 – Add in severance pay

9:51 - Understand how unemployment benefits work

10:57 – Learn about your health insurance options

13:18 – Get a new social security estimate

13:54 – Consider a lump sum payment

15:52 – Determine if you want to go back to work

17:28 – Seek a professional opinion

Scott Dougan got a wake-up call when he found out his business advisor was taking on more clients. Would the advisor be too busy to talk with him now? How would it affect their relationship? The experience made Scott think about his own clients and how his business expansion makes them feel. Find out what he learned and how he applies that to his business relationships now.

Read more & get additional financial resources here: https://wp.me/paeENs-97

Today's show schedule:

2:00 – Scott shares how adviser has helped him

4:13 – Scott finds out his adviser wants to expand and help others

7:53 – How business expansion can affect clients

11:12 – Scott discusses business growth

12:04 – Relationships are sacred

14:02 – Job No. 1 is taking care of clients.

The fear for many right now is that once the pandemic finally passes, the financial impact will knock them off track for the future. If you’re worried that the coronavirus could rob you of your retirement, there are four areas of your finances that you can check right now. Find out what they are and why they’re good indicators of where you’re headed.

Read more and get additional financial resources here: https://wp.me/paeENs-8V

Access the Elevated Retirement Recession PDF here: https://wp.me/aaeENs-91

Today's show schedule:

0:53 – Will a recession rob your retirement?

2:07 – Most of the folks we work with still have the same plan now that they did before the pandemic.

3:29 – No. 1 - Check in on your expenses.

6:26 – No. 2 - Check your assets.

9:26 – No. 3 - Check your risk tolerance. Here’s what that means.

14:18 – No. 4 - Check the income gap.

18:12 – How does Scott use this checklist with clients?

With so much news to process these last few months, financial updates might not be at the top of your list. But part of the recent relief efforts included new rollover rolls that impact people that need to take RMDs. Find out what it all means and whether this impacts you.

Read more and get additional financial resources here: https://wp.me/paeENs-8O

Today's show schedule:

0:52 – How’s everyone doing around the office?

2:01 – With change comes opportunity.

5:18 – New rollover rolls were introduced recently.

6:18 – Who does this apply to?

6:43 – Provisions from the CARES Act

9:31 – Just because you can put money back, should you?

Building a financial plan is as much about protecting your portfolio as it is building it, and that’s why it’s important to prepare for the unexpected. These five life events would likely fall into that category so what should you financially if any of these things impact you? We’ll talk about each one and discuss what adjustments might be made.

Read more and get additional financial resources: https://wp.me/paeENs-8I

Today's show schedule:

0:56 – What our topic is all about today.

1:48 – A planned move to a new job.

3:02 – An unplanned change of jobs.

3:56 – Conversation Scott’s been having with clients about job uncertainty.

4:50 – Receiving an inheritance.

6:51 – Facing a serious medical issue.

9:26 – The death of a spouse.

12:03 – On all of these situations, we want to make sure you plan prepares you for the unexpected.

Maybe even more so now than ever, we are looking for more and more financial guidance. A lot of times we turn to lots of different sources to find that information. And while these sources might have the best intentions, that doesn’t mean that the advice is always going to fit you. Let’s look at some examples and explore the reasons why we have to be very careful from whom we’re taking this important guidance.

Read more and get additional financial resources here: https://wp.me/paeENs-8B

Today's show schedule:

1:17 – First day back in the office as a team since the pandemic began.

1:52 – Here’s what we’re talking about today.

2:45 – The first source: Family

5:32 – A great lesson Scott learned from a mentor early in his career.

9:21 – The second source: Friends

10:51 – The third source: CPAs

16:16 – The fourth source: Financial experts in the media.

19:45 – Here’s the bottomline on getting advice.

21:30 - Separating experts from entertainers.

Since we aren’t able to bring David McKnight to Kansas City for an in-person appearance, we decided to do the next best thing and bring him on the podcast. Join us as the author and tax planning expert gives us his perspective of what we’re experiencing with a turbulent economy and what opportunities investors have to move closer to a zero percent tax bracket.

Read more and get additional resources here: https://wp.me/paeENs-8m

Today's show schedule:

1:02 – Special guest David McKnight joins us on the show today.

1:21 – Some background on David.

2:22 – What has the coronavirus done to the economy and how will it effect tax rates in the future?

3:36 – As the national deficit increases, politicians have two options.

5:15 – The state of the economy now that the health crisis has hit.

6:55 - Our job as advisors is to navigate the current circumstances. What options or opportunities are available now?

11:16 - How we’re working with clients right now.

12:12 - If you can’t get to the zero tax bracket, what’s the next best thing?

13:50 - Last words of wisdom from David.

16:07 - If you want to get a copy of the book, here’s what we’re doing for listeners.

17:18 - David’s new book is coming out earlier.

The CARES Act is a recent bill that passed and became law in order to provide some relief during this economic slowdown. There are some provisions in this bill that retirees and pre-retirees should take a closer look at because they may change your retirement plan. Scott will list the 5 key points in this new piece of legislation and will discuss the possible impacts of each point.

Show Notes & Info:

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

The $2 trillion coronavirus (COVID-19) economic stimulus bill was signed into law on March 27, 2020 aimed to provide relief and opportunities for individuals and businesses impacted negatively by the current pandemic. On this episode, we'll cover some of the key provisions in the bill with Scott Dougan and special guest Mark O'ffill of Prairie Fire Resources LLC.

Small business owners, check out this PDF for key questions and guidance on the emergency loan program that's included in the stimulus.

Show Notes & Info:

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

Mark O'ffill: 816-289-9766 mark@gopfr.com www.GoPFR.com

Take a deep breath. Yes, the Coronavirus is scary and we know it's causing a lot of you to worry. But on today's show we try to put the crisis in historical perspective, share stories about how other people like you are responding to the situation, and look ahead to the future with a sense of hope, not doom. Give a listen as Scott analyzes the purposeful pumping of the brakes on the economy and where we go from here.

Show Notes & Info:

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

Do you have a good sense of what documents you should keep on file throughout your life? We'll give you an overview on this episode of some of the important items you should tuck away. And be sure to check out the full list on our downloadable guide.

Show Notes & Info:

SECURE Act PDF: https://mcdn.podbean.com/mf/web/q49eyi/Podcast_PDF_-_What_Documents_Do_I_Need_To_Keep_On_File_-_Download.pdf

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

The Chiefs are Super Bowl Champions! We celebrate that fact on this episode and also discuss one of the biggest news stories of late, the coronavirus pandemic. Although these events are extreme ends of the spectrum, we can learn some important financial lessons from both.

Show Notes & Info:

S&P Chart

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

Respected financial author David McKnight joined Scott Dougan and the Elevated Retirement Group team for a recent event to learn about tax strategies that can lead you to the zero percent tax bracket in retirement. Scott recaps the event and details some of the strategies David talks about in his book, The Power of Zero.

Show Notes & Info:

SECURE Act PDF: https://mcdn.podbean.com/mf/web/yg7vqr/The_Secure_Act_-_ERG_-_Downloadable_Guide.pdf

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

After it simmered in Congress for a year, the SECURE Act is now law. If you have a retirement account of any kind, or will one day inherit a retirement account, this will affect you...

Show Notes & Info:

SECURE Act PDF: https://mcdn.podbean.com/mf/web/yg7vqr/The_Secure_Act_-_ERG_-_Downloadable_Guide.pdf

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

If you have money in a pre-tax account (think traditional IRA, 401(k), etc...), you will want to consider paying taxes on those funds now instead of later. With taxes indeed on sale, we'll give you some strategies to consider.

Show Notes & Info:

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

Just like we did a year ago, Scott will give us a blow-by-blow account of the things we should be looking to do at the end of the year from a tax perspective.

2019 Tax Planning Checklist

Show Notes & Info:

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

A lot of folks believe that politics have a dynamic and tremendous impact on their personal financial situations. Specifically, they'll often align their investment strategies with the prevailing political winds. But, as Scott tells us on today's show, that isn't very wise. You're making a big mistake if you mix investment decisions with politics and we'll tell you why on this episode.

Show Notes & Info:

Warren Buffett Video: https://www.youtube.com/watch?v=56R_tMGRq0M

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

On today's show, we'll follow-up on an earlier conversation about the SECURE Act's impact on the Stretch IRA and talk about how the Senate's plan (RESA) spells even greater doom for IRA owners with large balances. If you have a lot saved in an IRA and might pass it to a non-spouse beneficiary one day, this conversation better be on your radar.

Show Notes & Info:

Episode 21: https://yourretirementelevated.podbean.com/e/how-the-secure-act-might-impact-your-financial-plan/

Article: https://401kspecialistmag.com/will-secure-act-be-the-end-of-stretch-iras/

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

How do the ultra-wealthy get away with paying fewer taxes than everyone else? Many people believe it’s because they use complicated, or questionable tax practices. But that’s not necessarily the case. In fact, many of the strategies the ultra-wealthy use to save a small fortune in taxes are also available to you. You just don’t know they exist, or you’re simply not taking advantage of them. On today's show, we'll cover 5 strategies that could potentially help you save a small fortune in taxes.

Show Notes & Info:

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

Taxes are very likely to increase in the future and failing to plan accordingly may have painful financial consequences. That said, not everybody should alter their plans, but some should. Like most financial matters, this is a very nuanced subject. There are very few absolutes or hard-and-fast rules here. Listen to today’s show to find out if you should make some changes in your plan to take advantage of likely higher taxes in the future.

Show Notes & Info:

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

As you near retirement, there are several different ages to keep in mind, each of which represents an important landmark in retirement planning. Let's discuss what those landmarks are, and why each of them is vital to consider and discuss with your financial advisor when planning for your retirement future.

Show Notes & Info:

Podcast Site: https://listentoscott.com/

Retirement Classes: https://www.retirementelevated.com/courses/

Call: (913) 393-4724

Over the course of two decades, Scott has developed a comprehensive 5-step plan for retirement. Listen to today's show to see if you have included these steps and why they are needed in a thorough retirement plan.

Click here to get the PDF for the 5-Step Complete Planning Process

“Financial Security” might mean different things to different people, but for nearly everyone, making sure that they achieve their own definition of security is the most important part of their retirement plan. So, how do you define financial security? On today’s show, we’ll cover some of the popular responses we hear from clients during the planning process.

When it comes to investing and planning for retirement, everyone is affected by a handful of different biases that influence how they make decisions. And oftentimes, these biases can get us into quite a bit of trouble if we're not careful. So let's learn how to spot these biases and gain an overall healthier financial mindset.

With all of the technology available at our fingertips on a daily basis, the world's seven billion people are as connected as they've ever been. But is that always a good thing? In this episode, Scott gives us some perspective on how the media can influence the way we perceive the world and how that skews the reality of life.

Congress is in the middle of passing the SECURE Act (passed in the House, waiting on the Senate). The bill brings a lot of positive changes for those of us planning for retirement, but it also threatens the elimination of an important and well-used planning strategy, the Stretch IRA. Scott will break down this bill for us and talk about how it might impact our financial plans going forward.

Part of discovering a financial advisor's true value and role in your life is coming to grips with the things they can and cannot actually do for you. Advisors aren't superheroes, so there will be some things you can't reasonably expect them to be able to do. Let's chat about some of these expectations and see how it all might impact your own financial situation.

This might seem like a surprising headline on this show, but it's true. For some, working with a financial advisor makes a lot of sense. But for many, it does not. Let's cover the reasons and see where you might fit.

Lots of topics on tap this week. We'll take a look into the effects of the recent tax reform on your tax return this year, as well as future tax planning. We'll get Scott's thoughts on the current housing market, as well as bitcoin and other hyped stocks. And later, we'll answer questions from the mailbag about rolling over a 401(k) and market crash anticipation.

You only get one chance at retirement, so how can you make sure you're set up for the best possible future, and also getting the most out of this new era in your life? Scott sets the financial talk aside today and takes a candid look into what the real return on your retirement should be.

When it comes to financial planning, everybody has some kind of pain point. Those pain points are different for each person, but everyone has something that bothers them. Let's talk about how Scott has helped his clients through these common pain points.

A lot of volatility took place at the end of 2018, so it's important to get some perspective. Let's take a look back at last year's market, the current condition of the market, and what we can look forward to in the future, as Scott gives us this year's State Of The Markets.

Retirement isn't what it used to be, and it means something different to every person. For previous generations, it was all about taking things slow. But for more and more people today it's about discovering new opportunities, passions, and purpose. So let's take a look at how this generation's retirees are redefining this brand new chapter in their lives.

Most investors are just not very good at investing. But why is that? It turns out that there are quite a few psychological biases that cause people to make irrational decisions about their investments, even when they know better. Find out which of those biases you might be falling victim to and learn how to guard yourself against irrational investing behavior.

Like the weather, the stock market experiences highs and lows - sunny days as well as gloomy ones - and the forecast can change at any given time. But even in weeks when storms seem to be unceasing, we can usually count on brighter days ahead. That's why it's important to keep market corrections in perspective.

The Do-It-Yourselfer. The Ostrich. The Gambler. The Model Citizen. Are you one of these types of clients? On this episode, we'll take a look at all the different types of personalities that walk through Scott's door and the unique challenges they face.

We want to make sure you actually know what you're getting when you work with a true financial advisor and planner. So, on this episode, we'll detail exactly what the different elements of Elevated Retirement Group's services look like. We'll cover retirement income and distribution planning, investment oversight service, tax reduction planning, healthcare, family wealth planning, and set expectations for ongoing services and communication.

https://listentoscott.com/podcasts/episode-10-what-actual-services-should-your-advisor-provide/

When you're hiring a financial professional, you need to be careful that you're finding the right advice-giver. Not all advisors are made the same. On this episode, Scott will detail the difference between a fiduciary advisor and one who only adheres to the suitability standard. We'll also cover the important questions to ask a prospective financial professional and tell you how to do a background check on your advisor.

----more----

As mentioned in this week's episode, don't forget to check out FINRA and SEC Advisor Search to get important background information on your future (or current) financial advisor.

Scott gives us a blow-by-blow account of the things we should be looking into at the end of the year from a tax perspective. There were a lot of changes in the Tax Cuts and Jobs Act of 2017 and it might have a big impact on how you file in April.

For years, Scott cut off the ends of the holiday ham. When his wife asked him why he was performing the odd task he didn't have a great explanation. It was just because that's how grandma did it. So he set out to discover why she used to cut off the ends of the ham and, of course, it led him to a unique way to analyze some old retirement planning assumptions.

It's almost like a bad word. Be careful if you utter the word "annuity" to some financial advisors. Some love them. Some loathe them. What should you think about them? Scott will break down for you the good, the bad and the fine print of the different types of annuities on this week's show.

Have you given much thought to your "Golden Decade"? It's the period of time between approximately 60 and 70 years old when you can really take control of your retirement planning future. On this episode, Scott gives us some of the important things to think about during this time period and tells us why we should be talking about the "Golden Decade" a lot more.

You need to know something. There are some really crafty marketers in the financial business. And good marketing doesn't always equal good planning. Scott will gives us some examples of these savvy marketing techniques that might have caught your eye recently and how you can avoid being distracted by these strategies and focus on getting a solid plan instead.

Risk tolerance can be divided into three main concepts: Capacity, Attitude, and Need. In this episode, Scott discusses his unique process of determining your level of investment risk, which was recently featured in an article in Kiplinger Magazine.

There is plenty of financial noise out there in the media world - articles that misrepresent facts to push a narrative, people who are bearish no matter how well the market is doing... the list goes on. Scott will go over some of the latest headlines in the financial news that drive him crazy because of how misleading they are.

On our inaugural episode of the podcast, let's discuss some important questions you should be asking about your finances as you head into retirement. Scott can help you answer those questions.