Your Retirement Elevated Podcast with Scott Dougan

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 In this episode, we cover topics ranging from poor expense planning to outdated beneficiary designations and family conflict triggers.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

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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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: 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