
Michigan's Retirement Coach Podcast With Mike Douglas
0 FOLLOWERS
Retire with confidence! Introducing "Michigan's Retirement Coach," podcast- one of Feedspot's "Top Retirement Podcasts You Must Follow!" Join Mike Douglas and his engaging series as he draws upon insights from real clients and their stories to help you make the most of a fulfilling retirement.
Mike and the whole team at LifePlan Financial Design can help you navigate..
Michigan's Retirement Coach Podcast With Mike Douglas
2h ago
Social Security benefits could face cuts by 2034, potentially affecting retirement and income plans. With the uncertainty surrounding Social Security, Certified Financial Planner Mike Douglas explains that planning for alternative income streams such as annuities is crucial. Mike brings up the example of laddered annuities, which when carefully chosen, can offer protection against benefit reductions and provide stability for unforeseen circumstances. He discusses why diversifying your income streams helps maintain your lifestyle even if Social Security benefits are reduced.
Schedule your compl ..read more
Michigan's Retirement Coach Podcast With Mike Douglas
1w ago
Retirees are often more afraid of running out of money than of dying. A study by JP Morgan Chase found that over 80% of retirees do not touch their IRA money until they reach the required minimum distribution (RMD) age of 73, only then withdrawing the mandated amount.
Certified Financial Planner Mike Douglas discusses the main reason why many retirees worry about outliving their savings. He touches on one strategy to minimize taxes and maximize charitable donations by using Qualified Charitable Distributions (QCDs), allowing retirees to transfer funds directly to charities without paying taxes ..read more
Michigan's Retirement Coach Podcast With Mike Douglas
2w ago
Navigating the digital age can feel overwhelming, especially when it comes to financial planning. From the nuances of HELOCs (Home Equity Line of Credit) to the complexities of leveraging stocks, understanding these intricate concepts is crucial for a secure retirement. Certified Financial Planner Mike Douglas explains how to sift through the noise and find reliable information that resonates with your unique financial situation.
Schedule your complimentary appointment today: MichigansRetirementCoach.com
Follow us on social media: YouTube | Facebook | Instagram | LinkedIn
See omnystudio.com/li ..read more
Michigan's Retirement Coach Podcast With Mike Douglas
2w ago
How badly is “dead money” affecting returns in your portfolio? Certified Financial Planner Mike Douglas discusses what could be holding your retirement plan back, including: cash stockpiles, non-performing stocks, and rental properties. He addresses the need for quarterly rebalancing to prevent portfolio drift, getting rid of non-productive assets, and ensuring investments align with current income and growth needs.
Schedule your complimentary appointment today: MichigansRetirementCoach.com
Follow us on social media: YouTube | Facebook | Instagram | LinkedIn
See omnystudio.com/listener for pri ..read more
Michigan's Retirement Coach Podcast With Mike Douglas
1M ago
As lifespans increase, planning for longer retirements becomes necessary. Mike Douglas explores key strategies such as maximizing Social Security benefits, understanding market volatility, and adjusting for inflation. He highlights the importance of having a comprehensive income plan to ensure financial stability throughout retirement.
Examining real-life scenarios, Mike addresses the need for personalized planning to address longevity risks and safeguard savings.
Schedule your complimentary appointment today: MichigansRetirementCoach.com
Follow us on social media: YouTube | Facebook | Instagr ..read more
Michigan's Retirement Coach Podcast With Mike Douglas
1M ago
Many people make costly mistakes with inherited money, leading to financial struggles in retirement. In this episode, Mike Douglas discusses that when receiving a large sum of money, like an inheritance or lottery winnings, it's crucial to manage these funds wisely to secure a stable financial future.
Mike challenges the notion of quickly paying off debts and considers how the money can generate ongoing revenue. He gives the example of investing the amount and using the interest to pay off debts and preserving the principal to provide steady income.
Ready to begin building your customized reti ..read more
Michigan's Retirement Coach Podcast With Mike Douglas
1M ago
Do you feel overwhelmed by financial jargon and retirement planning? In this episode, Certified Financial Planner Mike Douglas discusses the realities of required minimum distributions (RMDs) and how they affect your retirement funds. He highlights the age requirements, the differences between qualified and non-qualified money, and how to handle your RMDs effectively.
Mike also explores strategies like charitable contributions and Roth conversions to help make the most of withdrawals.
Ready to develop a strategy with your RMDs? Visit MichigansRetirementCoach.com to schedule an appointment with ..read more
Michigan's Retirement Coach Podcast With Mike Douglas
1M ago
Mike Douglas explains the historical context of retirement tools and why the 401k on its own is not a retirement plan. With pensions becoming rare and Social Security facing potential cuts, understanding and maximizing your 401k is essential to income planning.
Mike explores strategies for supplementing retirement income, including the rule of 4%, dividend funds, and annuities. He lays out the pros and cons for each why the focus needs to be on individual circumstances and goals.
Ready to see if you’re maximizing your 401k? Visit MichigansRetirementCoach.com to connect with Mike and his team t ..read more
Michigan's Retirement Coach Podcast With Mike Douglas
1M ago
Many people don't fully understand the importance of diversifying their financial assets for tax efficiency. Mike Douglas explains the three types of money: pre-tax, after-tax, and tax-free, and explains how to strategically manage them to avoid overpaying taxes. By blending different types of accounts like 401(k)s, Roth IRAs, and taxable brokerage accounts, retirees can better navigate varying tax rates and maintain a comfortable lifestyle.
Ready to explore your tax strategy in retirement? Visit MichigansRetirementCoach.com to connect with Mike and his team today!
See omnystudio.com/listener ..read more
Michigan's Retirement Coach Podcast With Mike Douglas
2M ago
Avoiding common mistakes in 401k rollovers could save you from unexpected tax consequences. In this episode, Mike Douglas dives into the intricacies of rolling over your 401k into an IRA, focusing on neglected required minimum distributions and the potential benefits of Roth conversions. He explores how the current historically low tax brackets offer a unique opportunity to roll over your savings into a Roth IRA for tax-free growth.
Mike highlights the importance of understanding the rules and limitations, especially for high earners who face contribution limits but can still benefit from the ..read more