On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re talking about planning for the financial issues you can’t predict.
When is the next market crash going to happen?
We don’t have a crystal ball. Nobody does. But having another market crash is not a matter of it, but when. You can’t time the market, because it’s just too fast right now. You need to have a plan in place to protect you in bad and good markets.
What will health care costs look like in 20 years?
If the trend continues that we live longer, you’ll need money for a longer time. You’ll also have more health care costs.
Health care costs are expected to balloon for the foreseeable future. We can’t predict what the costs will be, but we can make some educated guesses based on what the costs are today and how they’ve changed.
We can run scenarios to help determine how it could affect your money. Then you can make some solid decisions.
On today’s show, we’ll also share how to prepare for two other things we can’t necessarily predict: taxes and life expectancy. We know it’s likely we’ll live longer but how long should we plan our retirement to be? It’s also likely that taxes will go up, but by how much?
Listen to the full episode or use the timestamps below to find specific segments.
3:01 – Market crashes
6:57 – Health care
11:19 – Taxes
13:42 – Life expectancy
Thanks for checking out the Your Retirement Elevated Podcast. We’ll talk to you again on the next show.
Scott Dougan, RFC, Investment Advisor – Contact