Financial Insanity w-Scott McLean

This is Financial Insanity w-Scott McLean.  Today's show is how to downsize.  In retirement, the decision to downsize to a smaller home is a highly personal one that depends largely on an individual’s financial goals and desired lifestyle.  Downsizing can lower cost of living to pursue a better lifestyle, Before finalizing, one should fully understand if they're making the right call.  It's important to understand goals for downsizing and its financial aspects.  Plus, ways to spend less and breaking a financial bad habit of living without a budget.

This is Financial Insanity w-Scott McLean.  Today's show is history of taxes.  Taxes can't be escaped, even in retirement.   But, there are some steps you can take to help reduce this impact on your savings.  Plus, tips on downsizing, decluttering and spending less in the retirement years.

This is Financial Insanity w-Scott McLean.  Today's show is election year and time machine 1975.  A Presidental election year will impact the stock market.  The biggest impact is the overall economy and personal finances.   Scott breaks down the trends from the past century and dives into the biggest concerns facing Americans during this election year.  Plus, a look back at the year 1975 and how the economy has changed since then.

This is Financial Insanity w-Scott McLean.  Today's show is will you have enough income in retirement.  Many people aren't investing enough to reach their savings goal and the income it brings. To evaluate whether your nest egg will be enough, Scott says you should begin by estimating your retirement expenses.  These important questions must be considered: How much income will you need to retire? What's enough savings?  How much should you have in your 401k?  Is over a million dollars enough to retire?  There are factors to consider as well like social security changes, inflation, taxes and the standard of living.

This is Financial Insanity w-Scott McLean.  Today's show is getting to know Scott.  Scott McLean is a financial professional who offers both investment and insurance products and services. He dedicates a large portion of his time to educating investors and the community through workshops on topics related to retirement income planning, Social Security, estate planning, required minimum distribution planning and common mistakes retirees make with their finances.  Scott offers financial tips to help you plan for retirement and ways your portfolio can grow in uncertain financial times.

This is Financial Insanity w-Scott McLean.  Today's show is  need a plan, no matter the US debt.  Find out the state of the country's debt.  That 34 million debt could significantly impact taxpayers.  There are several categories: personal finance, borrowed interest rates, the growth and stability of the economy and taxation.  Plus, can you make your IRA tax free through assets in insurance.  This is a serious issue and you need a financial advisor to assist you during these difficult times.

This is Financial Insanity w-Scott McLean.  Today's show is decisions on annuities, 401ks and IRAs.  How much do you really show about annuities?  Which ones are right for you?  A simple breakdown of the four types of annuities are provided.  Plus, IRA rules you should use as a guideline, taxes that can be paid on a 401k and how these investments affect your retirement portfolio.

This is Financial Insanity w-Scott McLean.  Today's show is preserving retirement from taxes.  Every year, Americans file taxes.  There is a proactive approach that pre-retirees should take.  The process can be overhelming.  But working with a financial planner is important.   Scott offers ways to save on taxes to preserve your retirement.  Plus, how much will you recieve from your social security benefits?  Does filing early impact how much you will recieve?  How will your benefits change if you go through a divorceor if a spouse passes away? 78 percent field a social security quiz.   All the information you need to do is here.

This is Financial Insanity w-Scott McLean. Today's show is top signs you need a new advisor. If you've been thinking about making a change with your financial advisor or looking to fire your advisor, there are five warning signs. It starts with them not acting in your best interest. If they are not, you need to look for another advisor because your retirement needs to be protected and you need all the right guidance for this most important time in your life. Plus, everything you need to know about estate planning. There are financial complexities and challenges like estate tax, rights to inheritance, healthcare and financial decisions and how to make sure your wishes are carried out.

This is Financial Insanity w-Scott McLean. Today's show is estate planning and rapid fire questions. Special guest Dave Connolley discusses estate planning and how to protect your assets and avoiding tax pitfalls for unmarried couples. There are common reasons for obtaining a domestic partnership agreement, which involve financial rights and parential agreements.