Your Retirement Elevated Podcast

5 Questions To Determine If Your Financial Plan Needs Further Review

Anytime you meet with a financial advisor, you need to determine if your plan needs more review. On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re sharing the five critical questions you need to ask.

 

Key topics on this show: 

3:58 – Vacation now or later

6:17 – Adequate review

9:36 – Tax plan

12:00 – Income and liquidity

13:59 – Risk

15:34 – Heirs

 

Read more and get additional resources here: http://listentoscott.com 

The Marshmallow Experiment: The Role of Delayed Gratification In Financial Success

The ability to delay gratification – people who have this quality are more likely to succeed than any others, according to a study. Today we’ll share how this can help with your financial life.

 

Read more and get additional financial resources here: http://listentoscott.com 

 

What we discuss in this episode: 

2:44 – Marshmallow study

7:56 – Our clients

9:20 – More about the experiment

Are You Guilty of These Cognitive Biases?

Today’s show is a fun one. Bias is one of our favorite topics, and cognitive bias is fascinating, especially as it relates to money. Find out what these biases are and how to implement more rational thinking into your life.

 

Article discussed today: https://www.visualcapitalist.com/50-cognitive-biases-in-the-modern-world/

 

Read more and get additional financial resources here: http://listentoscott.com 

 

What we discuss in this episode: 

1:38 – Bias is a favorite topic

3:50 – Dunning-Kruger effect

6:19 - Anchoring

8:16 – Google effect

12:55 – Zero-risk bias

13:37 – Ikea effect

16:21 – Blind spot bias

Why is the Market Going Down?

The stock market has been on the decline. But is this normal, or is this time different? How should we handle the drop? We’ll share what advice we give clients and how you can handle the ups and downs with confidence.

 

Read more and get additional financial resources here: http://listentoscott.com 

 

What we discuss in this episode:

2:00 – Why is the market going down?

5:36 – Volatility is quicker

9:02 – Upward trend

11:59 – Final thoughts

Murky Issues That Make Retirement Planning Harder

A recent USA Today article pointed out three murky issues that increase retirement planning’s degree of difficulty, especially in today’s economic climate. On this episode, we’ll breakdown the article to see if the murky issues are actually that threatening, and what you can do about it if you’re concerned.

 

Read more and get additional financial resources here: http://listentoscott.com 

 

What we discuss in this episode:

2:38 – Income growth

8:13 – Social Security

10:52 – Withdrawal rates

17:20 – Data and variables

Home Run Retirement: How Baseball Principles Also Score Financial Runs

After listening to today’s episode, you’ll never attend another baseball game with the family and look at it the same way. We’re going to show you how taking some of baseball’s most basic principles can also lead to financial success in your retirement portfolio. So, grab your peanuts and crackerjacks and let’s take the financial field.

 

Read more and get additional financial resources here: http://listentoscott.com 

 

What we discuss in this episode:

2:31 – Home runs

4:26 – Appearances

8:12 – Five-tool players

11:59 – Coaching

Worried About Bad News? Remember, This Too Shall Pass

We’ve had no shortage of bad news in the news lately, but don’t panic. Remember, this too shall pass. We’ll share how we walk with clients through troubling times and keep their finances in order

 

Read more and get additional financial resources here: http://listentoscott.com 

 

What we discuss in this episode: 

1:20 – Crisis du jour

3:22 – Focus, not fear

6:55 – Can’t speculate

9:11 – Fear

10:31 – How we help

What’s the Most Important Part of Retirement Planning?

Planning for retirement is relatively complex. There are a lot of different moving parts and factors to consider. Adjusting any of these variables can impact the end result. But is there one part of the retirement planning process that’s most important?

 

Read more and get additional financial resources here: http://listentoscott.com 

 

What we discuss in this episode: 

2:07 – Deciding what you do

5:09 – Start now

6:15 – Income

7:55 – Spending

9:20 – Portfolio allocation

11:14 – Fulfilling retirement

15:23 – The right advisor

19:09 – Most important

Planning for Things You Can’t Predict

There are some things in life you can’t predict, but you can try to plan for them. For example, when is the next market crash going to happen? We don’t know, but here’s how you can prepare for this and other things in your financial life.

 

Read more and get additional financial resources here: http://listentoscott.com 

 

What we discuss in this episode:

3:01 – Market crashes

6:57 – Health care

11:19 – Taxes

13:42 – Life expectancy

How Much is Your Money Bias Costing You?

On this episode, we’ll breakdown a CNBC article that analyzes a recent Morningstar study. The study found that most of us have at least one money bias, some of us more than one, and that those biases are very possibly costing us money in our checking, savings, investing and retirement accounts. Listen to see if you might be impacted by a specific money bias and for strategies to get it back under control.

 

Read the CNBC article: https://www.cnbc.com/2022/01/14/98-percent-of-americans-have-at-least-1-money-bias-study.html

 

Read more and get additional financial resources here: http://listentoscott.com 

What we discuss in this episode:

2:45 – Key points of the article

4:14 – Four main biases

8:25 – Low bias, better financial health

10:07 – Solutions and priorities

13:27 – Biases we see

The State of the Markets in 2022

Today’s show is a special edition. We recently held a webinar with other financial advisors to talk about the state of the markets in 2022. We’ll get you up to date on stock market volatility and provide some perspective on the economy.

 

Read more and get additional financial resources here: http://listentoscott.com 

 

What we discuss in this episode:

3:02 – Quotes

7:37 – Politics vs. policy

13:30 – The economy

15:14 – What drives the stock market

18:20 – Great resignation

21:32 – Inflation

24:28 – Financial markets

26:39 – Crypto currencies

28:58 – Economy is slowing

32:21 – Has inflation peaked?

35:09 – Rising interest and stocks do well

40:11 – Realistic expectations

5 Signs You’re In Good Financial Health

If retirement is on your mind, then listen up. Today’s show is a 5-part checklist that’ll help measure if you’re in good financial health and set yourself up for retirement success. 

 

What we discuss in this episode: 

1:53 – Spend less than you make

2:47 – Future tax implications

5:06 – Know your retirement plan

6:54 – Retirement income plan

8:07 – Don’t worry about financial future

10:14 – Bonus sign

 

Read more: https://listentoscott.com/episodes/

22 Money Resolutions For 2022

You might not be able to follow through on all 22 of these resolutions, but implement even just a few of these and you’ll be well on your way to a more prosperous financial life in the coming year.

 

 

Read more and get additional financial resources here: https://listentoscott.com/podcasts/22-money-resolutions-for-2022/

 

 

What we discuss in this episode: 

5:43 – Reducing debt

6:10 – Boost savings

6:39 – Prepare for unexpected

7:23 – Don’t overreact

9:02 – Budget

12:23 – Meet with a financial advisor

14:26 – Check beneficiaries

14:37 – Tough conversations

15:18 – Refinance

15:05 – Audit insurance

15:45 – Organize

16:16 – Check credit

16:40 – Check fees

16:58 – Share knowledge

18:38 – Give back

19:00 – Review tax brackets

19:16 – Roth conversion

19:39 – Update paycheck withholdings

20:15 – Rebalance portfolio

20:28 – Transition to retirement

21:38 – Consolidate accounts

23:00 – Listen to our podcast

What is a Fiduciary and Why Do You Need One?

Few people can pronounce “fiduciary” correctly, let alone describe it and explain how it impacts their world. It is a really important thing to grasp and be able to explain. So today, we’ll discuss what it means to be a fiduciary and some questions you can ask your financial advisor.

 

Read more and get additional financial resources here: https://listentoscott.com/podcasts/what-is-a-fiduciary-and-why-do-you-need-one/

 

 

What we discuss in this episode: 

1:03 – How to pronounce fiduciary

2:33 – Your best interests

8:30 – How to spot fiduciaries

10:29 – Five questions to ask

What to Know About End-of-Year Taxes

As the end of the year quickly approaches, here are some last-minute tax issues you need to get in order before Jan. 1, 2022. Find out how RMDs, charitable contributions, and more could impact your taxes.

 

Read more and get additional financial resources here: https://listentoscott.com/podcasts/what-to-know-about-end-of-year-taxes/

 

Check List: Click Here

 

What we discuss in this episode: 

3:47 – Required minimum distributions

5:01 – New legislation

5:59 – Contributions

6:48 – Tax review

8:17 – Qualified charitable distribution

9:47 – Estate planning, FSA, etc.

Podbean App

Play this podcast on Podbean App