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 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
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
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
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
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
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
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
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
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
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
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/
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
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
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.
