Your Retirement Elevated Podcast with Scott Dougan

7 Important Streams of Income

You can’t talk about retirement without talking about income. There are seven streams of income you need to know about. In today’s episode, we’ll break them down for you and help you understand the pros and cons of each one. Join us for a critical discussion on creating a reliable, dependable income source in retirement and discover the importance of having a diversified financial plan. 
 
Here's some of what we discuss in this episode:
Earned income is the most common type of income. (3:50)
Interest income is a form of passive income. (9:09)
Business income is one of the best ways to have wealth. (19:16)
 
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724

Five Facts You Need to Know About FDIC Insurance and Your IRA

The Federal Deposit Insurance Corporation (FDIC) has been in the news recently as bank failures have made headlines. It's worth noting that the FDIC insures deposits up to $250,000, providing peace of mind to depositors who may be concerned about the safety of their funds. However, you may be wondering if your IRA is also protected by the FDIC, especially in light of recent news coverage. In this episode, we’ll answer your questions about banking, FDIC, IRAs, and more.  Stay tuned as we cover the five facts that you need to know.
 
Here's some of what we discuss in this episode:
Not all IRAs are protected by FDIC insurance. (3:06)
IRA deposits are insured separately at each institution. (4:22)
Your IRAs are insured separately from other deposits. (5:35)
 
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724

How Millionaires Invest Their Money

How do millionaires invest their money? If you’ve ever wondered how they do it, today’s show is for you. From asset allocation to market timing and security selection, we’ll explain how millionaires handle these topics. 
 
Here's some of what we discuss in this episode:
How do millionaires handle asset allocation? (5:09)
Do millionaires time the market? (8:38)
How do millionaires diversify their investments? (11:08)
 
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724

10 IRA Questions to Ask Your Advisor

Entrusting your life savings to a financial advisor requires careful consideration and due diligence, especially when it comes to managing large IRAs. Before handing over your hard-earned nest egg, it's crucial to ensure that your advisor possesses the necessary expertise and experience to handle the responsibility. To help you navigate this, we've compiled a list of ten crucial questions to ask your advisor about IRAs.
 
Here are a few of the questions we’ll highlight in today’s episode:
IRA distribution planning requires specialized knowledge. Do you have expertise in this area? (8:07)
What professional training do you have in IRA distribution planning? What courses or programs have you taken? (10:40)
What is the latest IRA tax rule you are aware of? When did it occur? (15:25)
Who do YOU turn to when you have questions on IRA distribution planning? No one can know it all. (19:30)
 
How America Invests Vanguard Study:
https://corporate.vanguard.com/content/dam/corp/research/pdf/How-America-Invests-Advisor-US-FASHAIFR.pdf
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724

Unpacking the Silicon Valley Bank Collapse

As you have likely heard, the Silicon Valley Bank collapsed on Friday, March 10th, 2023, after a bank run- marking the largest bank failure in the U.S. in over a decade. With a lot of fear surrounding this topic, we are here to focus on the facts and give you a better understanding of what we know today.
 
Here's some of what we discuss in this episode:
What we know about the Silicon Valley bank failure right now (2:57)
Unpacking why this SVB crisis happened and what sparked the bank run panic. (11:05)
The five keys points you want to keep in mind before panicking about this event. (17:48)
While there is a lot of fear and panic instilled by the media right now, it is rare to go a year without a new bank failure. (20:30)
Two important questions to help you evaluate what you hear in the media (22:17)
 
Read Mike Sorrentino's rundown of the SVB collapse:
https://listentoscott.com/wp-content/uploads/2023/03/Bank-Run-PDF-for-Web.pdf
 
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724

Things Could (Always) Be Better

Today’s show is going to feel like a healing therapy session. We're talking about how things could always be better. From human progress and value to happiness, we’ll cover some fascinating topics today.
We are not psychologists or therapists, but we are fascinated by the human mind and the need to improve. It happens in all facets of our lives, but money always seems to drive that desire to want more.
Here's some of what we discuss in this episode:
How have you made financial decisions in the past? (2:01)
Despite the negativity in the world, we are positive about trying to improve. (10:14)
Why do we pursue improvement? (11:42)
 
See the studies here: https://experimentalhistory.substack.com/p/things-could-be-better
 
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724

Retiring Early? Check Out Scott’s Do’s & Don’ts of 6 Secret Sources of Income

If you’re thinking about retiring early, you’ll need to take a few extra steps in the planning process because you’ll be facing some additional challenges. But there are ways to navigate this by looking at all of the income options at your disposal.
On today’s show, we’ll share Scott’s top do’s and don’ts of six secret sources of come. So much of your success will depend on your income plan and this episode will lay out some ways to get ahead.
 
Here's some of what we discuss in this episode:
How to deal with anxiety and uncertainty about early retirement. (2:23)
How to make withdrawals from your plan if you’re a public safety employee. (7:30)
How SEPPs can help you tap into accounts. (10:24)
 
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724

SECURE Act 2.0 Webinar & In-Depth Discussion

We’ve got a special edition of the podcast today, and it’s one you’re going to want to listen to. We’ve already spent some time on this show discussing  SECURE Act 2.0 and we highlighted many of the planning opportunities it has created. But this is such an important piece of retirement legislation so we’re going even more in-depth on the subject.
In this episode, we are sharing a webinar we hosted about SECURE Act 2.0. And, spoiler alert, we get a little angry about the topic and go in attack dog mode. Get ready for it.
Here's some of what we discuss in this episode:
Why we went in attack dog mode about this topic. (0:50)
Big highlights of the SECURE Act 2.0 (15:46)
What changes we’re excited about. (29:23)
 
Watch the webinar: https://7fu676u8.pages.infusionsoft.net/?cookieUUID=02950531-d018-4d59-a98a-61bab700e137&affiliate=0 
 
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724
 

Financial Checklists and Important Birthdays

A new year means many of us are looking for ways to improve our financial lives in 2023.
Today we’re sharing a great checklist to give you areas of focus in order to be better prepared financially. If you’re nearing retirement, these are questions you want to think through and have a plan for before you make that transition.
We’ll also share some important birthdays for financial planning and make sure you know about the items that will impact you at specific ages.
Here's some of what we discuss in this episode:
Do you anticipate changes to your investment goals? (5:43)
Do you want to help children or grandchildren with college? (10:27)
When should you do Roth conversions? (11:52)
 
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724

SECURE 2.0 Act – Retirement Changes You Need to Know

We’ve gone through all of these different SECURE 2.0 Act provisions, which touch on a range of planning items and dates so that you can really focus on what’s most important. This episode will help you get a better understanding of the changes, how they might impact you, and what planning opportunities you need to be aware of.
Here's some of what we discuss in this episode:
More changes again to the required minimum distribution ages.  (7:16)
Elimination of RMD requirements for Roth 401(k) plans.  (12:31)
Reduction in penalty for missing your RMD withdrawal. (14:16)
Catch-up contribution changes. (15:52)
The ability to roll 529 plan into a Roth. (18:22)
Employer can make a deposit into an emergency savings account for employee. (26:38)
 
Want to connect with us? 
https://listentoscott.com/
https://elevatemyretirement.com/our-team/scott-m-dougan/
913-393-4724