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President & Founder,
Elevated Retirement Group
Scott M. Dougan is the president and founder of Elevated Retirement Group. His primary focus is on retirement planning, wealth preservation and estate planning, and he has helped hundreds of clients prepare for retirement through his proprietary planning process. Dougan is a Registered Financial Consultant, an Investment Adviser Representative and a licensed insurance agent. He and his wife, Jennifer, reside in Prairie Village, Kansas.
If you are between the ages of 60 and 70, the time could be right to pump some money out of big, fat 401(k)s and traditional IRAs into tax-free Roth accounts.
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The key to good financial decisions is knowing how to sort through the flood of information out there. How do you do that? Ask the right questions. Specifically, these five.
Your risk tolerance can be boiled down into three words: capacity, attitude and need. Getting a grip on those concepts is the key to designing an appropriate portfolio for your retirement.
First off, do the math to find out if you have enough saved to actually retire.
If part of your estate plan is to leave a hefty IRA to your children or anyone else other than your spouse, you may want to start thinking about backup strategies now.
Preparing yourself for these potential pitfalls can help ensure that you're able to afford the life you want after you retire.