Your Retirement Elevated Podcast with Scott Dougan

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