Your Retirement Elevated Podcast with Scott Dougan

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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: Want to connect with us? https://listentoscott.com/ https://elevatemyretirement.com/our-team/scott-m-dougan/ 913-393-4724