Your Retirement Elevated Podcast with Scott Dougan

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.

Time is Undefeated

Time is undefeated. Nobody outlasts time. One of the big questions that people have, when they seek our advice, is: Will we be OK financially and have money for the rest of our lives? We’ll let you know what steps you must do to get there. 
 
 
Read more and get additional financial resources here: https://listentoscott.com/podcasts/time-is-undefeated/
 
Jesse Itzler YouTube video: https://www.youtube.com/watch?v=jks1fjm3o_I 
 
 
What we discuss in this episode: 
1:33 – Time is undefeated
6:10 – Options shrink as you age
9:38 – Can we retire?
13:52 – Build your plan

Your Brain on News

In today’s world, the news is everywhere. How does this affect our brain and decision-making? Did you know that constantly obeying our ancient drive to focus on the negative can make us miserable?
 
Read more and get additional financial resources here: https://listentoscott.com/podcasts/your-brain-on-news/
 
 
What we discuss in this episode: 
2:10 – Ground News
6:32 – How we got here
9:34 – Here we are
14:38 – Headlines

How Overconfidence Can Lead to Financial Destruction

Overconfidence in your financial life can sometimes lead to destruction. Find out if any of these examples apply to you and why you can’t put too much confidence in any of these planning areas.
 
Read more and get additional financial resources here: https://listentoscott.com/podcasts/how-overconfidence-can-lead-to-financial-destruction/ 
 
What we discuss in this episode: 
6:00 – Stock markets
9:05 – Managing your own portfolio
13:24 – A million dollars
14:31 – Rules of thumb
16:23 – Certain products

Tony Robbins and the Importance of Feeding Your Mind

Today we’re sharing some wisdom from motivational speaker and coach Tony Robbins about the importance of feeding your mind. Find out five ways you can live your best post-pandemic life.
 
Read more and get additional financial resources here: https://wp.me/paeENs-cM
 
Watch Tony Robbin's video: https://www.youtube.com/watch?v=Aupn1QUSxdw&t=25s
 
Chili Recipe: https://www.meatchurch.com/blogs/recipes/texas-chili
 
What we discuss on this episode: 
7:03 – Feed your mind
14:38 – Why am I around?
17:44 – Guard your mind
23:56 – Take care of your body
29:37 – Role model
31:26 – Massive action
31:53 – Give more