Four Splurges In Retirement You Won't Regret
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
4d ago
Mike emphasizes the importance of investing in health, family, travel, and charity. He explains that a comprehensive financial plan gives individuals permission to make informed decisions and pursue their goals in retirement. Visit MyLifePlanFinancial.com to connect with Mike and start building your retirement plan today! See omnystudio.com/listener for privacy information ..read more
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Knowing Who You Want To Be In Retirement
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
1w ago
In this conversation, Mike discusses the story of Nick Saban's retirement and the commandments his wife Miss Terry gave him.   Mike explores the importance of knowing who you want to be, who you want to be with, and where you want to go in retirement. He emphasizes the need to have a clear vision for retirement and not let investments determine your identity. Visit MyLifePlanFinancial.com to connect with Mike and start building your income plan today! See omnystudio.com/listener for privacy information ..read more
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Overcoming The Fear Of Financial Mistakes
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
2w ago
In this episode, Mike discusses having a personalized approach to income planning and the risks associated with different income sources in retirement. He also explains the impact of inflation on retirement income and why it needs to be factored into financial planning. Visit LifePlanWealth.com to connect with Mike and start building your income plan today! See omnystudio.com/listener for privacy information ..read more
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The Risks Of DIY Tax Planning In Retirement
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
3w ago
Tax planning in retirement is crucial and differs from tax planning during working years. Doing it yourself may result in some challenges. In this episode, Mike discusses the tax rules and regulations retirees face and highlights the importance of aligning tax planning with goals and lifestyle choices. Visit LifePlanWealth.com to connect with Mike and start building your tax plan today! See omnystudio.com/listener for privacy information ..read more
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Exploring The Option Of Snowbirding In Retirement
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
1M ago
What are the benefits and challenges of having two properties in retirement? In this episode, Mike discusses whether it's better to own or rent a property down south, balancing the expenses of having two homes, and why legacy planning is important to think about when determining if snowbirding is right for you. Visit LifePlanWealth.com to connect with Mike and discuss your retirement plans today! See omnystudio.com/listener for privacy information ..read more
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The Trade-Offs Of Waiting: Missed Benefits and Depleted Savings
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
1M ago
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 ..read more
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Finding The Right Withdrawal Rate In Retirement
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
2M ago
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 ..read more
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Investing In Cryptocurrency For Retirement
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
2M ago
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 ..read more
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Don't Let Retirement Taxes Steal Your Golden Years
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
3M ago
We’re enjoying the lowest tax rates we may ever see in our lifetimes, mostly due to the Trump Tax Cuts. The bad news is that those cuts expire at the end of next year unless Congress acts. Tax expert Ed Slott says it’s an opportune time to make a Roth conversion, and Michigan’s Retirement Coach, Mike Douglas, agrees. Many who are approaching retirement are worried about skyrocketing taxes eating away at their hard-earned savings.  On this episode, Mike shares how at Life Plan Financial Design, they work to show their clients strategies to reduce those burdens. Learn why you may want to co ..read more
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How Emotions Could Wreck Your Retirement
Michigan's Retirement Coach Podcast With Mike Douglas
by Mike Douglas
3M ago
A Nobel Prize-winning psychologist found that we make financial decisions based on 90% emotion and only 10% logic. While emotions are temporary, their effects can wreak havoc on your financial livelihood. On this episode, Certified Financial Planner, Mike Douglas shares the approach they take at Life Plan Financial Design to help their clients avoid making emotional decisions. Learn ways to identify hidden emotional triggers impacting your financial choices, develop a personalized retirement plan aligned with your risk tolerance and goals, and make informed decisions even when the market gets ..read more
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