133 episodes

Financial and retirement planning guidance from Kansas City’s Scott Dougan of Elevated Retirement Group.

Your Retirement Elevated Podcast with Scott Dougan Scott Dougan

    • Business
    • 4.3 • 3 Ratings

Financial and retirement planning guidance from Kansas City’s Scott Dougan of Elevated Retirement Group.

    Practical Strategies for Protecting Retirees Against Scams & Fraud

    Practical Strategies for Protecting Retirees Against Scams & Fraud

    On today's episode, we're going talk about scams and how they are more prevalent than you might think. In fact, just in 2022, there were more than 88,000 complaints of fraud that resulted in more than $3 billion in losses from people age 60+.
     
    Here are some of the questions we’ll tackle in this episode:
    Why are people aged 60 and over common targets?
    The top five scams that constitute 65% of the complaints.
    The ‘Can You Hear Me’ scam that is easy to fall for.
    What steps can you take to protect yourself and increase your cybersecurity?
     
    Additional resources: 
    https://www.ncoa.org/article/top-5-financial-scams-targeting-older-adults 
    https://www.ncoa.org/article/how-older-adults-can-improve-their-personal-cyber-security
     
    Want to connect with us?
    https://listentoscott.com/
    https://elevatemyretirement.com/our-team/scott-m-dougan/
    913-393-4724

    • 27 min
    With Higher Interest Rates, Is “Lazy Money” Still A Concern In 2024?

    With Higher Interest Rates, Is “Lazy Money” Still A Concern In 2024?

    Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments.
     
    Here's what we discuss in this episode:
    What are we talking about when we say, “lazy money?”
    The current interest rate landscape + why people end up with too much lazy money in their portfolio
    Addressing excess lazy money by calculating a "war chest,” understanding your income plan, and fine-tuning investments
    Achieving a “Goldilocks” allocation of assets that is just right for your financial goals
     
    Want to connect with us?
    https://listentoscott.com/
    https://elevatemyretirement.com/our-team/scott-m-dougan/
    913-393-4724

    • 13 min
    Peak 65: Preparing for the Largest Retirement Surge Ever

    Peak 65: Preparing for the Largest Retirement Surge Ever

    Today's magic number is 65. You know, unlike older retired Baby Boomers, the majority of peak 65ers don't have pensions, which used to help fill that gap left by Social Security. Well, our current retirement system is obsolete. It's time for a new retirement security framework. These were the words of Jason Fitchner, an executive director at the ALI Retirement Income Institute, and it highlights a great conversation that we're going to dive into today.
     
    Here are some of the questions we’ll tackle in this episode:
    One of the concerning trends emerging right now is the lack of sufficient guaranteed income.
    Why the reliable three-legged stool of retirement income isn’t as sturdy now.
    The biggest concerns among this Peak 65 group when it comes to retirement.
    Examples of planning discussions we have with clients to work through some of these issues.     
     
    Want to connect with us?
    https://listentoscott.com/
    https://elevatemyretirement.com/our-team/scott-m-dougan/
    913-393-4724

    • 25 min
    Biggest Changes for Retirement in 2024

    Biggest Changes for Retirement in 2024

    With inflation adjustments and the phased implementation of the SECURE Act 2.0, there are some important retirement planning changes to pay attention to this year. From potential tax implications on Social Security benefits to alterations in retirement account rules, higher Medicare expenses, increased IRA contribution limits, and shifts in required minimum distributions (RMDs), this episode offers a comprehensive overview of what lies ahead for retirees in 2024.
     
    Here’s some of what we discuss in this episode:
    An increasing number of beneficiaries are expected to be liable for federal income taxes due to the 8.7% increase in the cost-of-living allowance in 2023
    Changes to retirement account rules, including 529 accounts, Roth 401(k)s and 403(b)s, and a 3.2% COLA for Social Security benefits
    Rising Medicare expenses, including increased Part B rates, higher Part D premiums, and additional costs for higher-income individuals
    The new IRA and Roth IRA limits for 2024 + changes in income limits for Roth IRA contributions based on filing status
    The deadline to contribute to an IRA in 2023 and 2024
    Changes in Required Minimum Distributions (RMDs) for retirement accounts in 2024 under the SECURE Act 2.0
     
    Want to connect with us?
    https://listentoscott.com/
    https://elevatemyretirement.com/our-team/scott-m-dougan/
    913-393-4724
     

    • 20 min
    Focus on Systems Instead of Resolutions in 2024

    Focus on Systems Instead of Resolutions in 2024

    Happy New Year! Today we’re tossing the old hat of resolutions out the window, opting for something with a little more staying power: systems. Say goodbye to the fleeting motivation of New Year's resolutions and embrace the profound impact of incremental habits for long-term success in health, wealth, and personal growth. This episode draws on the life-changing principles of Atomic Habits by James Clear and is filled with personal anecdotes, actionable advice, and a practical guide to cultivating a lifestyle of consistent progress.
     
    Here are some of the questions we’ll tackle in this episode:
    Progress over perfection will win out over time.
    Define the type of person you want to become.
    Create the right environment for success.
    The two-minute rule and why it can help you overcome the hurdle of getting started.
    Focus on daily wins.
     
    Want to connect with us?
    https://listentoscott.com/
    https://elevatemyretirement.com/our-team/scott-m-dougan/
    913-393-4724

    • 32 min
    The 5 Types of Wealth & Why People Chase Only One at the Cost of Others

    The 5 Types of Wealth & Why People Chase Only One at the Cost of Others

    What would you pay to have the freedom to do what you want, when you want, how you want? On today's episode, we're going to talk about the five types of wealth and why people chase only one at the cost of the others.
     
    Here are some of the questions we’ll tackle in this episode:
    Why being a time billionaire might be better than being a dollar billionaire.
    The importance of protecting your time and what Scott has done to protect his.
    Physical health and mental wealth go hand in hand.
    Relationship wealth helps guard against the poverty of loneliness.
    How to become wealthy in skills and how does that translate to money.
    Having wealth isn’t just about having money but being able to do what you want when you want.
     
    Want to connect with us?
    https://listentoscott.com/
    https://elevatemyretirement.com/our-team/scott-m-dougan/
    913-393-4724

    • 46 min

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3 Ratings

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