Financial Insanity w-Scott McLean

This is Financial Insanity w-Scott McLean.  Today's show is three blind mice.  You recieve investment advice from a financial advisor, have your tax returns prepated by an accountant and have your will and estate plan written by an attorney.   When was the last time these three key consultants got together to discuss your overall financial game plan?  You might think you've taken the right steps, but the trap has been set.  Scott explains his book and the tools you need to keep your key consultants connected and operating on the same financial game plan and help you avoid common retirement mistakes.   Plus, how much income do you need in retirement?  It's not a one size fits all plan.  There are six common questions for how much money you will need.   It's important to start with how much are you currently spending.

This is Financial Insanity w-Scott McLean.  Today's show is corporate bonds and listener mailbag.  There are different financial tools to keep your portfolio on track.  Hear the difference between corporate bonds and mutual fund bonds. Bonds are powerful and can be attractive to investors. Plus, where do you plan to live in retirement.  Are you going to stay in your current home or will you downsize?  What about inheritance?  These are big questions that will affect your future.

This is Financial Insanity w-Scott McLean.  Today's show is creating a lasting legacy.  It's a basic look at creating a lasting legacy for your family.  Legacy planning, often intertwined with estate planning, is a crucial process for arranging the transfer of your assets and wealth to heirs, often family, after passing away. It also uniquely incorporates the transmission of personal values and narratives to future generations, emphasizing the importance of working with legacy advisors or financial professionals specilaizing in wealth management.  Plus, what are biggest of the biggest regrets people have in their retirement.  Hint: it starts with saving.

This is Financial Insanity w-Scott McLean.  Today's show is common retirement mistakes to avoid.  It's a walk through of some of the biggest regrets people have in their retirement.  You've spent a lifetime planning for your retirement goals, contributing to 401k plan and investing additional assets in an individual retirement account or other accounts.  Many retirees claim their social security benefits as soon as they are eligible, but waiting until full retirement age or even later can significantly increase the monthly benefit.   What's the biggest regret?  Not saving enough.  Plus, Scott will tell you retirement risks to avoid and answer some mailbag questions from listeners.

This is Financial Insanity w-Scott McLean.  Today's show is boomers up to bat for retirement.   Retirement starts now for the boomers generation and gen x is on deck and that means the needs to start planning for their future.  It's a big impact with people leaving the workforce.  Plus, there's a new administration in office.  What does this mean for your retirement and financial future?  Scott will tell you how to take control of your finances in these uncertain times.

This is Financial Insanity w-Scott McLean.  Today's show is new year, new government.  It's a complete look ahead to the rest of 2025.  What is the impact of the new government regime on your retirement plan?  It would affect your finances.  Plus, filing taxes can be overwhelming.  But, there is a proactive approach that pre-retirees should take.  There is a difference between getting taxes prepared and tax planning.  There are plenty of codes and fees with tax payers having to follow the guidelines.  Scott is here to help to prevent paying those future uncessary taxes and will help get the biggest bang for your buck.

This is Financial Insanity w-Scott McLean.  Today's show is planning for the worst.  The key to financially preparing for the unexpected is to hope for the best and plan for the worst.  How this is done is by sacificing some of your income today and putting aside money.  So how can you hope for the best and plan for the worst with your every day income, social security and today's ever rising inflation?  Plus are you retire to ready and have you saved enough?

This is Financial Insanity w-Scott McLean.  Today's show is what are QTIP trusts.  They are very important because under this trust, income is paid to a surviving spouse until that spouse's death.  Then, the balance of the funds is paid to beneficiaries.  It can be a useful tool in estate planning and is especially helpful when the trust grantor has surviving children.  Learn the tax advantages, the benefits and the requirements.  Plus, learn everything about brics.  It can change the way countries play the money game and how can it affect you.

This is Financial Insanity w-Scott McLean.  Today's show is key retirement questions.  Inflation, higher taxes and uncertainty are affecting many baby boomers.  How can you afford retirement, avoid more losses in your 401k and what other income options are available.  Plus, why it's important to discuss retirement's complex legal and tax issues with an advisor.

This is Financial Insanity w-Scott McLean.  Today's show is critical retirement decisions.  Scott has been helping people retire smarter since 1983.  You'll hear why working with a financial advisor can mean so much for you. I could be the difference of an extra one million dollars.  Plus, how the new presidential administration could affect investments, taxes and estate plans.   You want to make the most of these critical changes.