Financial and retirement planning guidance from Kansas City‘s Scott Dougan of Elevated Retirement Group.
On this episode of Your Retirement Elevated podcast with Scott Dougan, we’ll explain the correlation between vitamin C and how it impacts your financial health.
Read more and get additional financial resources here: https://wp.me/paeENs-bF
What we discuss on this episode:
3:05 – Email from a client
5:31 – Always something to worry about
9:45 – No doom and gloom
12:45 – Guard your minds
14:28 – Emotions
SECURE Act 2.0, son of the SECURE Act, has come out and we'll explain what has changed, what you might like and what you might not.
Read more and get additional financial resources here: https://wp.me/paeENs-bA
What we discuss on this episode:
2:06 – SECURE Act 2.0
5:16 – Rothification of retirement
7:05 – Please some, frustrate others
10:22 – Collecting tax on the seed
12:22 – Increase RMD age
15:54 – Don’t get too wrapped up
On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re talking about some recent developments to the SECURE Act and what it might mean for you. Find out what we think about the news and how it could impact planning.
Read more and get additional financial resources here: https://wp.me/paeENs-bs
What we discuss on this episode:
2:42 – What is the SECURE Act?
6:34 – Withdrawing funds from retirement accounts
11:20 – Not the first big change
13:36 – Repercussions
There are some things you should never assume in the financial world, especially as you’re preparing for retirement. Find out if you’re getting any of these things wrong.
Read more and get additional financial resources here: https://wp.me/paeENs-bh
What we discuss on this episode:
7:41 – Spending less in retirement
9:26 – Lower taxes in retirement
11:12 – Helping children with college
13:34 – I’ll never retire
Today we’re talking about classic mistakes people make that can have long-term impacts on their retirement plan. Find out how to avoid the three P’s – panic, politics and performance chasing.
Read more and get additional financial resources here: https://wp.me/paeENs-bb
What we discuss on this episode:
1:39 – Emotional decisions
4:05 – Market drops
8:32 – Panic
12:35 – Politics
19:33 – Performance chasing
We often hear about frequently asked questions, but what are some questions that are not usually addressed in financial plans? We’ll explain what they are and why you need to know the answers.
Read more and get additional financial resources here: https://wp.me/paeENs-b0
What we discuss on this episode:
1:22 – Money falling through the cracks
2:56 – Tax returns
3:44 – Estate plans
6:00 – Lack of communication
10:36 – Making factual, logical decisions
14:00 – Questions you need to ask
14:36 – Tax-loss harvesting strategies
20:24 – Financial advisors can be your quarterback
23:50 – Virtual educational events
In part three of our estate planning series, we’re talking with attorneys Chris Gaughan and Casey Connealy about stealth taxes. They are sneaky taxes that we often don’t think about or know about but can really add up.
Read more and get additional resources here: https://wp.me/paeENs-aT
Part 1 on Powers of Attorney: https://wp.me/paeENs-aB
Part 2 on Wills and Trusts: https://wp.me/paeENs-aH
What we discuss on this episode:
2:19 – What are stealth taxes?
4:00 – Death taxes
7:57 – Individual retirement accounts
11:34 – Probate
14:09 – Delays and administrative fees
In part two of our estate planning series, we’re talking with attorneys Chris Gaughan and Casey Connealy about the difference between wills and trusts. Which one should you have, and what are the pros and cons?
Read more and get additional planning resources: https://wp.me/paeENs-aH
Check out part 1: https://wp.me/paeENs-aB
What we discuss on this show:
2:40 – What if you don’t have a will or trust?
5:34 – What is a will?
7:43 – What is a trust?
9:40 – Other reasons to use a trust
12:15 – Divorce protection
13:16 – Protecting children
14:12 – Money management concerns
14:59 – Children with special needs
15:56 – Should I have a will or trust?
19:33 – What do I do next?
21:16 – Contact Chris and Casey
In part one of our estate planning series, we’re talking with attorneys Chris Gaughan and Casey Connealy about powers of attorney. Do you need a power of attorney, how are they used and what are some common misconceptions?
Read more and get additional planning resources here: https://wp.me/paeENs-aB
What we discuss on this episode:
1:33 – What is estate planning?
2:35 – Two types of powers of attorney
4:09 – If you don’t have power of attorney
6:13 – What if you do have power of attorney?
10:19 – Misconceptions about power of attorney
13:36 – Validity of power attorney
15:12 – Make sure you have copies
16:44 – Who should have a power of attorney?
What is the health of your wealth? In other words, how healthy is your retirement plan? Today, we’re sharing what questions you should consider as you save for retirement.
Read more and get additional financial resources here: https://wp.me/paeENs-av
What we discuss on this episode:
2:52 – A new administration
5:20 – You may need to work longer
6:52 – Spend less, save more
8:09 – Are you going to work longer or adjust your lifestyle?
8:55 – Invest with a long-term approach
11:35 – Hybrid retirement
14:53 – Insurance, healthcare and taxes
The holidays are a natural time to show gratitude, but intentional gratitude all year long is just as important. On today’s episode, we’re talking all about gratefulness.
Read more and get additional financial resources here: https://wp.me/paeENs-ar
What we discuss on this show:
1:35 – Gratefulness
4:50 – Intentional gratitude
8:20 – Expressing gratitude
13:27 – Acts of kindness
19:06 – Reflecting
We all deal with unknowns in our lives, but beware of the unknown unknowns. Those will get you, according to former Secretary of Defense Donald Rumsfeld.
Read more and get additional financial resources here:
What we discuss on this show:
2:16 – Known unknowns
4:37 – Unknown unknowns
9:09 – The election and pandemic
12:49 – Stay the course
15:55 – Being emotional about your savings
No matter how you feel about the 2020 election, it’s best to leave emotion behind when dealing with your financial future. Scott Dougan explains how he handles retirement planning in election season.
Read more and get additional financial resources here: https://wp.me/paeENs-ac
What we discuss on this show:
0:51 – Dealing with uncertainty
3:48 – Too much emphasis on one person
5:58 – Clients upset about election outcome
7:29 – What’s great about America
9:20 – Every change gives us opportunity
11:02 – How to define long-term
15:05 – Model good behavior
The election is upon us, and that brings up a lot of financial questions. We want to dedicate today’s show to answering some of those common queries.
Read more and get additional resources here: https://wp.me/paeENs-a5
What we discuss on this show:
1:18 – Confirmation bias
5:42 – What does the election really mean for investments?
6:34 – Are there Election Day implications for your investments?
10:09 – Should we be worried about delayed election results?
14:20 – Bogus info online
16:00 – The media
20:24 – Short-term versus long-term
22:58 – What if you’re taking money from investments?
24:58 – Final thoughts
On this episode of Your Retirement Elevated podcast with Scott Dougan, we explain why tax planning is so important, how the election could affect taxes and much more.
Consider this your end-of-year tax planning guide. Find out why tax planning is often a missing piece in people’s financial plans.
Read more and get additional financial resources here: https://wp.me/paeENs-9U
What we discuss on this show:
2:15 – Why tax planning is often a missing piece
5:38 – Itemization vs. standard deduction
7:48 – CPAs vs. financial planners
11:00 – Actions to consider before year end
15:29 – Making contributions next year
17:22 – Notable tax changes
20:42 – Other important tax considerations
26:11 – How the election could affect taxes
30:55 – Eliminating the step up in basis
