Watch Out for These 4 Retirement Blind Spots

What blind spots are in your financial plan as you prepare for retirement? We’ll explain what they are and how to spot them.
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The Bird’s Eye View:

What blind spots are in your financial plan as you prepare for retirement? We’ll explain what they are and how to spot them.

 

Your Guide:

On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re talking about blind spots in your retirement. Most retirees and pre-retirees have them in their retirement plan – things they never knew they needed to be thinking about.

We’ll explain how each of these blind spots can cause problems.

Market downturns

Market downtowns are part of the game. We have to be aware that they are going to happen. We need to understand what your comfort level is with the fluctuation of the value of your money. You need to know what your exposure is in your current plan and determine if you’re OK with that level of risk.

Inflation

This topic has been more prevalent in the news. It looks like the fed is not overreacting to inflation at this point, but we are seeing some things inflate in value, such as lumber and vehicles.

You’ll see supply chain issues on certain things, but we think this is a short-term issue.

Medical costs

If your plan doesn’t address this, it could be a blind spot that could pop up and surprise you. Can your plan support an extra $4,000-$8,000 a month for care for a loved one? How long can it sustain that?

Some people prefer to self-insure through cash flow or assets, but others want to use different strategies.

Listen to the full episode or use the timestamps below to find specific segments.

4:15 – Market downturn

6:43 – Inflation

8:40 – Medical costs

11:03 – Tax

13:50 – Looking for blind spots

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

 

 

Your Guide:

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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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(913) 393-4724