Michigan's Retirement Coach Podcast With Mike Douglas Mike Douglas

Companies are moving away from pensions due to the financial strain of supporting retirees with life expectancy rising and people working less years for one company in their careers.

In this episode, Mike discusses The Big 3 (Ford, Chrysler, and General Motors) and the pros and cons of the options employees have for retirement income: Taking a lump sum up front or taking a monthly pension for the rest of their life. Which is better?

Visit LifePlanWealth.com to connect with Mike and discuss your retirement income options today!
See omnystudio.com/listener for privacy information.

When deciding when to take Social Security benefits, it's important to consider the holistic picture of your retirement plan, including savings, income needs, and investment growth potential.

In this episode, Mike discusses how waiting to take Social Security may result in missed benefits and the potential of running out of savings if income needs are not met.

Visit LifePlanWealth.com to connect with Mike and discuss your options for taking Social Security today!
See omnystudio.com/listener for privacy information.

Airlines brought in a whopping $33 Billion in baggage fees last year. These are fees we know that we pay when we travel. But what about the fees in your retirement portfolio? How much in hidden fees are you really paying?

In this episode, Mike explains why retirees could be mislead by how much they’re actually paying in fees due to the complexity of the prospectus they receive every year.

Visit LifePlanWealth.com to see what fees are coming out of your retirement portfolio today!
See omnystudio.com/listener for privacy information.

Running out of money is the biggest concern retirees have when they stop working. The 4% Rule has been regarded as the safest percentage to withdraw each year to never run out of money, but is that calculation outdated?

In this episode, Mike discusses what factors need to be considered when determining the right amount of income to live on during retirement.

Visit LifePlanWealth.com to begin building your own retirement plan!
See omnystudio.com/listener for privacy information.

Bitcoin recently made a new all-time high, breaking through $70,000 for the first time. But does a highly volatile and speculative asset belong in a retirement plan?

In this episode, Mike explains why cryptocurrency has become more mainstream and how Bitcoin became a more legitimate asset this year. Recently, the SEC approved ETFs for Bitcoin causing a spike in interest and seeing billions of dollars inflow into the crypto sector. Many people are still choosing to avoid Bitcoin and cryptocurrency, but is a small allocation worth it for your retirement plan? Mike discusses the opportunities and warnings for retirees.

Visit LifePlanWealth.com to begin building your own retirement plan!
See omnystudio.com/listener for privacy information.

College basketballs’ NCAA tournament is right around the corner! For many it’s March Madness’s exciting unpredictability that they love, but when it comes to retirement “unpredictable” is not what most of us seek.

In this episode, Mike uses the tournament to illustrate these key principles of financial planning:


Prepare in advance: Just like teams practice year-round, you need to start planning for retirement early.
Embrace volatility: The market has ups and downs, just like the tournament has upsets. Build a plan that can handle both.
Develop a strategy: Understand your risk tolerance and create an offensive and defensive approach to investing.
Don't be afraid to adapt: Have a plan that can adjust to unexpected situations.
Have a coach in your corner: A financial advisor can guide you through the process and help you achieve your retirement goals.

Visit LifePlanWealth.com to begin building your own retirement gameplan.
See omnystudio.com/listener for privacy information.