Your Retirement Elevated Podcast with Scott Dougan

Retirement planning is more than just saving money; it's about making your savings last as long as you do. Today Scott is going to share five crucial tax strategies that can significantly impact your financial future.

Here’s what we cover in this episode:

0:00 – Intro

1:19 – Why tax planning is critical to today’s retirement plan.

3:13 – Roth conversions

5:38 – Harvesting capital gains

7:15 – Tax diversification

9:41 – Required minimum distributions

12:39 – Health savings accounts

Read Scott's Kiplinger article:

https://www.kiplinger.com/retirement/tax-strategies-to-help-your-money-last-in-retirement

Want to connect with us?  

Web: https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

In this show, we explore why people in this financial bracket often rethink their strategy and discuss key topics like tax planning, withdrawal strategies, and income guardrails. With more at stake and no room for mistakes, the importance of having a skilled team to guide you through retirement is greater than ever.

Here’s what we cover in this episode:

0:00 – Intro

1:52 – Shift to Distribution

5:25 – Are you paying too much in taxes?

10:58 – Will your money last?

14:07 – Final thoughts

Want to connect with us?  

Web: https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

As the year draws to a close, it's the perfect time to reflect on your financial health and make strategic decisions for the future. In this week’s episode, Scott takes us through four major year-end financial planning mistakes and how to avoid them.

Here’s what we cover in this episode:

0:00 – Intro

1:44 – Ignoring the issues that debt creates.

5:50 – Overlooking the costs of your go-go years.

11:16 – Failing to plan for inflation’s long-term impacts.

13:13 – Not addressing poor lifestyle habits and decisions.

17:51 – Get in touch with Scott

Want to connect with us?  

Web: https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

If ​you ​have ​watched ​any ​of ​our ​podcasts ​and ​videos, ​or ​if ​you've ​ever ​engaged ​as ​a ​client ​with ​Scott ​Dougan ​and ​the ​Elevated ​Retirement ​Group ​team, ​you've ​probably ​come ​across ​a ​lot ​of ​flow ​charts. ​We're ​going ​to ​poke ​a ​little ​bit ​of ​fun ​at ​Scott ​today ​as ​he ​has ​prepared ​us ​a ​beautiful ​flow ​chart. It’s not the typical chart about ​finances ​but ​about ​Thanksgiving instead.

Check out the flowchart here: https://listentoscott.com/wp-content/uploads/2024/11/Thanksgiving-Flow-Chart.pdf

Here’s what we cover in this episode:

0:00 – Intro

2:12 – Start of the flowchart

4:51 – Turkey prep

7:44 – Stretchy pants

9:10 – TV

10:40 – Cranberry sauce

14:30 – Master plan for the day

16:40 – Ready for things to not go as planned

19:30 – Scott’s message for this Thanksgiving

Want to connect with us?  

Web: https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

Watch the show on YouTube: https://bit.ly/3RiT7Ky

Did you know there are three specific birthdays that can have a huge impact on your tax situation? It’s true, and today we’re going to tell you why 50, 65, and 73 are key ages for retirement planning.

Here’s what we cover in this episode:

0:00 – Intro

1:44 – Age 50

4:38 – Changes in catch-up rules

8:30 – Age 65

11:33 – Age 73

Want to connect with us?  

Web: https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

The 2025 contribution limits are now available and the tweaks might be significant for anyone approaching retirement. These changes are really going to affect that person with tax-deferred accounts like a 401, IRA, 403b and others. Join us to find out how the 2024 limits compare to what’s coming in 2025 and how it might change your saving strategies.

Here’s what we cover in this episode:

0:00 – Intro

1:21 – 401ks

5:34 – 457bs and Roth IRAs

7:45 – HSAs

10:07 – Final thoughts

Want to connect with us?  

Web: https://listentoscott.com/

Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

When you talk about retirement timing and how to remain retired, people often overlook at least one of seven key areas. The majority of them have nothing to do with money but they’re just as important as your savings account.

We sent out this article in a newsletter to clients recently and got a good response, so today we want to elaborate on these seven factors that will help you lead a fulfilling retirement.

Here’s what we cover in this episode:

0:00 – Intro

1:30 – The dollars and cents

3:12 – Staying active

5:30 – The psychological side

7:48 – Social networking

14:10 – Personal experience

17:06 – Family decisions

The Key to Tax-Aware Planning: https://www.truewealthdesign.com/the-key-to-tax-aware-investing/ 

Check out the The Gap And The Gain: https://amzn.to/4eV7OgC

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 ​primary ​value ​of ​a ​financial ​advisor ​isn't ​just ​picking ​the ​right ​portfolio, making ​sure ​you're ​minimizing ​taxes ​or ​establishing ​a ​paycheck ​that ​you're ​not ​going ​to ​outlive ​in ​retirement. ​​It's ​about ​preparing ​clients ​for ​the ​truth. Can you handle the truth?

Today we’re going to talk about the uncertainty in life and retirement and how a financial advisor helps provide the certainty you need with your money.

Here’s what we cover in this episode:

0:00 – Intro

2:27 – Five key areas of planning

5:37 – Planning for uncertainty

9:15 – Different scenarios

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 perception of what it takes to be wealthy sometimes matches reality, but often it doesn’t. Americans have opinions on what qualifies as being rich, and a recent survey tells us that we don’t always agree on what it takes to live comfortably.

Today we’re going to explore this disparity and discuss why comprehensive planning provides the clarity and direction you need to instill confidence in your financial future.

Here’s what we cover in this episode:

0:00 – Intro

2:00 – Study findings

6:30 – How many feel wealthy

9:39 – Wealth by generation

16:30 – Financial sources

19:49 – Staying on top of finances

21:56 – Planning decisions

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

Social Security is the backbone of retirement for millions of Americans, but big changes may be coming. On this episode, we dive into the recently released proposal to raise the full retirement age to 69 and what it means for your benefits, your future, and your financial security.

Here’s what we cover in this episode:

0:00 – Intro

4:02 – Increase in full retirement age

8:11 – Penalty for taking Social Security early could increase

11:32 – Would an increase in full retirement age save Social Security?

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