Your Retirement Elevated Podcast with Scott Dougan

Did you know there are three specific birthdays that can have a huge impact on your tax situation? It’s true, and today we’re going to tell you why 50, 65, and 73 are key ages for retirement planning. Here’s what we cover in this episode: 0:00 – Intro 1:44 – Age 50 4:38 – Changes in catch-up rules 8:30 – Age 65 11:33 – Age 73 Want to connect with us?   Web: https://listentoscott.com/ Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

The 2025 contribution limits are now available and the tweaks might be significant for anyone approaching retirement. These changes are really going to affect that person with tax-deferred accounts like a 401, IRA, 403b and others. Join us to find out how the 2024 limits compare to what’s coming in 2025 and how it might change your saving strategies. Here’s what we cover in this episode: 0:00 – Intro 1:21 – 401ks 5:34 – 457bs and Roth IRAs 7:45 – HSAs 10:07 – Final thoughts   Want to connect with us?   Web: https://listentoscott.com/ Schedule a call: https://elevatemyretirement.com/contact/ or 913-393-4724

When you talk about retirement timing and how to remain retired, people often overlook at least one of seven key areas. The majority of them have nothing to do with money but they’re just as important as your savings account. We sent out this article in a newsletter to clients recently and got a good response, so today we want to elaborate on these seven factors that will help you lead a fulfilling retirement. Here’s what we cover in this episode: 0:00 – Intro 1:30 – The dollars and cents 3:12 – Staying active 5:30 – The psychological side 7:48 – Social networking 14:10 – Personal experience 17:06 – Family decisions   The Key to Tax-Aware Planning: https://www.truewealthdesign.com/the-key-to-tax-aware-investing/  Check out the The Gap And The Gain: https://amzn.to/4eV7OgC   Want to connect with us? https://listentoscott.com/ https://elevatemyretirement.com/our-team/scott-m-dougan/ 913-393-4724   Watch the show on YouTube: https://bit.ly/3RiT7Ky

The ​primary ​value ​of ​a ​financial ​advisor ​isn't ​just ​picking ​the ​right ​portfolio, making ​sure ​you're ​minimizing ​taxes ​or ​establishing ​a ​paycheck ​that ​you're ​not ​going ​to ​outlive ​in ​retirement. ​​It's ​about ​preparing ​clients ​for ​the ​truth. Can you handle the truth? Today we’re going to talk about the uncertainty in life and retirement and how a financial advisor helps provide the certainty you need with your money. Here’s what we cover in this episode: 0:00 – Intro 2:27 – Five key areas of planning 5:37 – Planning for uncertainty 9:15 – Different scenarios Want to connect with us? https://listentoscott.com/ https://elevatemyretirement.com/our-team/scott-m-dougan/ 913-393-4724   Watch the show on YouTube: https://bit.ly/3RiT7Ky

The perception of what it takes to be wealthy sometimes matches reality, but often it doesn’t. Americans have opinions on what qualifies as being rich, and a recent survey tells us that we don’t always agree on what it takes to live comfortably. Today we’re going to explore this disparity and discuss why comprehensive planning provides the clarity and direction you need to instill confidence in your financial future. Here’s what we cover in this episode: 0:00 – Intro 2:00 – Study findings 6:30 – How many feel wealthy 9:39 – Wealth by generation 16:30 – Financial sources 19:49 – Staying on top of finances 21:56 – Planning decisions   Want to connect with us? https://listentoscott.com/ https://elevatemyretirement.com/our-team/scott-m-dougan/ 913-393-4724   Watch the show on YouTube: https://bit.ly/3RiT7Ky

Social Security is the backbone of retirement for millions of Americans, but big changes may be coming. On this episode, we dive into the recently released proposal to raise the full retirement age to 69 and what it means for your benefits, your future, and your financial security.   Here’s what we cover in this episode: 0:00 – Intro 4:02 – Increase in full retirement age 8:11 – Penalty for taking Social Security early could increase 11:32 – Would an increase in full retirement age save Social Security?   Want to connect with us? https://listentoscott.com/ https://elevatemyretirement.com/our-team/scott-m-dougan/ 913-393-4724   Watch the show on YouTube: https://bit.ly/3RiT7Ky

Have you heard of Pig Butchering? It’s not what you think. It’s a cunning new scam that’s draining retirement accounts and leaving victims penniless. Today, we’re uncovering how scammers are using relationships built on various phone apps to lure people in.  Here’s what we cover in this episode: 0:00 – Intro 3:02 – What is “pig butchering?” 6:09 – The scale of these scams 11:10 – How can we identify scams? 15:13 – Steps you can take to avoid scams    Want to connect with us? https://listentoscott.com/ https://elevatemyretirement.com/our-team/scott-m-dougan/ 913-393-4724 Watch the show on YouTube: https://bit.ly/3RiT7Ky

We’ve spent years helping educate clients on financial planning and we’re excited about stepping out of our comfort zone and into a new medium: filmmaking. Scott is a contributing producer for the new movie, The Psychology of Retirement, which recently premiered in Colorado. Discover the behind-the-scenes stories of creating this impactful movie, the importance of a comprehensive retirement plan, and the challenges retirees face today. Scott shares his experiences from the red carpet premiere to private showings and explains why having a written retirement plan is essential for a secure future. We’re inviting anyone who wants to see the move to call our office for details on how to get a copy.   Here’s what we cover in this episode: 0:00 – Intro 1:09 – How did this movie happen? 4:51 – Movie premiere 9:36 – Retirement challenges 15:30 – What you can get out of the movie 18:00 – Movie trailer   Want to connect with us? https://listentoscott.com/ https://elevatemyretirement.com/our-team/scott-m-dougan/ 913-393-4724   Watch the show on YouTube: https://bit.ly/3RiT7Ky

Scott has always had a passion for cooking, and he recently completed a 9-week cooking course in Kansas City. In this episode, we explore the valuable lessons from the culinary world that can be applied to financial and retirement planning.  One of the key concepts Scott learned is "Mise en Place," which emphasizes the importance of organizing and preparing all ingredients before you start cooking. This principle can similarly guide us in the financial realm, as we prepare and arrange our resources to enjoy a fulfilling retirement.   Here’s what we cover in this episode: 0:00 – Intro 10:14 – Mise en place 14:05 – Having a vision for retirement 19:03 – The value of having a team 28:43 – Experiences drive our feelings about finance 34:41 – Smooth sailing doesn’t mean nothing is happening 38:46 – You want a financial pro who has seen it all   The Culinary Center of Kansas City https://kcculinary.com/   Want to connect with us? https://listentoscott.com/ https://elevatemyretirement.com/our-team/scott-m-dougan/ 913-393-4724

Today’s a special episode discussing ​Medicare ​plans because it’s ​really ​important ​that ​you ​review ​your ​medical ​plans as soon as possible. Big ​changes ​are ​coming ​to ​the ​industry ​and ​you ​don't ​want ​to ​be ​caught ​off ​guard. ​That’s why we’ve invited Cortney Dale, CEO of Sunflower Insurance Solutions to point out the areas you have to pay attention to and highlight where you might need to make changes to your plan.        Here’s what we cover in this episode: 0:00 – Intro 3:19 – Impact of the Inflation Reduction Act 5:49 – What’s changing with Medicare? 12:04 – Benefits of having an independent professional 16:27 – Lots of people will need help 18:49 – How to get help   Want to connect with us? https://listentoscott.com/ https://elevatemyretirement.com/our-team/scott-m-dougan/ 913-393-4724