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://keap.page/bu413/cyber-security-event.html?inf_contact_key=d984fd0f0a859add734228f5a3da8c52

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.

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.

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?

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.

Want to connect with us?

https://listentoscott.com/

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

913-393-4724