How to Have a Healthy Retirement Plan

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.

The Bird’s Eye View:

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.  

 

Your Guide:

On this episode of Your Retirement Elevated podcast with Scott Dougan, we explain how to examine the health of your wealth. How healthy is your retirement plan?

With a new presidential administration coming in, it’s common to look at the changes that will bring and consider if you’re doing OK financially. We took a look at this topic for an article that will appear in Kiplinger magazine.

“Part of the uncertainty for a lot of people is when we’ve got a new administration coming in, new ideas on how things should be done … that’s what’s making people nervous,” said Scott.

With the new Biden administration, there are talks about more stimulus money and raising the minimum wage to $15 an hour.

“It’s going to be interesting to see what happens if some of these polices are pushed out in the midst of a fragile or recovering economy,” said Scott.

Today, we’ll share some action items to help you take control and have the highest probability of success in retirement:

  • You may need to plan to work longer
  • Spend less, save more
  • Are you going to work longer or adjust your lifestyle?
  • Invest with a long-term approach
  • Doing a hybrid retirement
  • How to pay for insurance, healthcare and taxes

Check out the timestamps below to find a specific topic. 

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

Thanks for checking out the Your Retirement Elevated Podcast. We’ll talk to you again on the next show.

 

Your Guide:

Home Insight About Scott

Scott Dougan, RFC, Investment Advisor – Contact

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ABOUT YOUR HOST...

Scott Dougan founded Elevated Retirement Group in 2003 in order to fill a niche he felt was not being addressed properly in the retirement planning environment – helping retirees and pre-retirees in the Kansas City metro area find answers to issues that may affect the quality of life during their retirement.

Scott is a Registered Financial Consultant (RFC) and holds a Series 65 Investment Adviser Representative license, which holds him to the fiduciary standard. He also holds insurance licenses in Kansas, Missouri and other states.

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