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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 the complexities of retirement planning in Michigan. Click for your personalized Retirement Roadmap here! Follow on Facebook, ...
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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 pl…
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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 …
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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 w…
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Companies are moving away from pensions due to the financial strain of supporting retirees with life expectancy rising and people working less years for one company in their careers. In this episode, Mike discusses The Big 3 (Ford, Chrysler, and General Motors) and the pros and cons of the options employees have for retirement income: Taking a lump…
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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 …
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Airlines brought in a whopping $33 Billion in baggage fees last year. These are fees we know that we pay when we travel. But what about the fees in your retirement portfolio? How much in hidden fees are you really paying? In this episode, Mike explains why retirees could be mislead by how much they’re actually paying in fees due to the complexity o…
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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 r…
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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 causi…
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College basketballs’ NCAA tournament is right around the corner! For many it’s March Madness’s exciting unpredictability that they love, but when it comes to retirement “unpredictable” is not what most of us seek. In this episode, Mike uses the tournament to illustrate these key principles of financial planning: Prepare in advance: Just like teams …
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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 retire…
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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 avoi…
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Your retirement savings maybe mysteriously shrinking thanks to all the fees you’re paying! Mike Douglas wants you to know the ugly truth about what may be going on in your accounts and how hidden charges in your investments can cost you thousands annually. But how do you identify them? Mike talks about the work they do at Life Plan Financial Design…
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Unwinding on the golf course is a classic retirement dream, but what if life throws you a curveball? On this episode, Certified Financial Planner, Mike Douglas explores the "mulligan” opportunities you may have to course-correct your plan if needed. Did you know you can "take back" your Social Security decision within a year?... Missed a required m…
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At age 72, and with 7 National Championships under his belt, Alabama’s legendary coach has announced he is retiring. On this episode, we hear from Nick Saban himself as he talks about the tipping point that made him realize it was time to pass the torch. Drawing parallels to the decisions many individuals face when contemplating their retirement jo…
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Inflation is down from the 9.1% high of June 2022, which has Wall Street hoping for interest rates cuts in 2024. That’s good news for loan-seekers, but lower rates could also result in a decrease on some of the attractive rates we’ve seen in CDs, Money Markets, treasuries, and annuities. On this episode, Michigan’s Retirement Coach Mike Douglas dis…
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Join Mike as he dissects Shohei Ohtani's groundbreaking $700 million, ten-year contract with the LA Dodgers, the ways Ohtani may be able to leverage international options to minimize tax burdens, and the tactics that could be applied to your own financial playbook. Learn how simple yet powerful offset strategies may help save you thousands in taxes…
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For many Americans taxes will be the greatest expense in retirement. Whether you're approaching or already retired, Certified Financial Planner Mike Douglas shares ideas on seizing Roth conversion opportunities and insight on tax planning for retirement, emphasizing the profound impact it could have on your income in the years ahead. Without diving…
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In this episode Mike explores the wisdom of legendary investor Charlie Munger, Warren Buffett's right-hand man, who recently passed away at the age of 99. Munger's investment philosophy, known for its simplicity and humor, provides valuable lessons for planning a successful retirement. Mike shares how the billionaire’s principles align with the goa…
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On this episode, Mike addresses the recent controversial financial advice from renowned personal finance radio host, Dave Ramsey. In a bold statement, Ramsey suggests retirees remain 100% invested in stocks and withdraw 8% annually, without worry. Mike shares the potential pitfalls of this advice, covering the risks of sequence of returns and highl…
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Join Mike Douglas as he discusses strategies to help you better prepare for retirement. Drawing parallels with the classic movie "Home Alone," he explores the fear and uncertainty many people feel in today's financial landscape. From the evolution of financial rules to the impact of market fluctuations, Mike covers crucial insights to help empower …
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Mike Douglas is no stranger to board games and Monopoly is one of his favorites so adapting Monopoly game strategies to retirement planning strategies is a no-brainer. Don't settle for just financial planning; set your sights on a fulfilling future. Michigan's Retirement Coach was recently selected as one of Feedspot's Top Retirement Podcasts to Fo…
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Join Mike Douglas, Michigan's Retirement Coach as he reflects on how holiday feasts relate to your retirement. Don't settle for just financial planning; set your sights on a fulfilling future. Michigan's Retirement Coach was recently selected as one of Feedspot's Top Retirement Podcasts to Follow! Mike and the whole team at LifePlan Financial Desig…
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There are several tools to continue income streams in retirement. Michigan's Retirement Coach Mike Douglas shares ideas you can use to help plan for retirement. Don't settle for just financial planning; set your sights on a fulfilling future. Michigan's Retirement Coach was recently selected as one of Feedspot's Top Retirement Podcasts to Follow! M…
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Tune in as Mike Douglas explains funflation and how to plan for it when you retire. Don't settle for just financial planning; set your sights on a fulfilling future. Michigan's Retirement Coach was recently selected as one of Feedspot's Top Retirement Podcasts to Follow! Mike and the whole team at LifePlan Financial Design can help you navigate the…
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Michigan’s Retirement Coach, Mike Douglas, was recently in Nashville where he sat down with one of the music industry’s most powerful couples. Producer, composer, and philanthropist David Foster has won sixteen Grammys and his wife, singer-songwriter Katharine McPhee is a TV and Broadway star, as well as a business entrepreneur. They recently took …
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Nobody wants to be a position full of regrets when in retirement, especially if you're a couple years into retirement and you start having that kind of awakening with your plan. Or perhaps the lack thereof. Don't settle for just financial planning; set your sights on a fulfilling future. Michigan's Retirement Coach was recently selected as one of F…
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Many professional athletes approach retirement the same way- once they feel fulfilled in their career, they retire or they retire from professional sports but go one to do other things. Take Travis Kelce for example and his new prepared food line sold at Walmart. Today's episode highlights the different motivators that lead us to retirement. Don't …
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In this episode, Mike emphasizes the importance of understanding the "why" behind wanting to invest in gold or other precious metals. Whether it's seen as a market hedge, an apocalyptic insurance, or a trendy investment, he underscores the risks of going all-in on any one asset, including gold. With precious metals' volatile prices, they're not typ…
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In this episode, Michigan's Retirement Coach, Mike Douglas discuss the importance of preparing for retirement as a dynamic and ever-evolving journey. Drawing inspiration from Tom Brady's transition to life after football, the episode touches on challenges individuals face, from repurposing their time and finding new purposes to unexpected health is…
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Michigan's Retirement Coach, Mike Douglas, and co-host Heather Branch discuss the profound shifts in the market and economy post-2020. They explore how LifePlan Wealth has adapted to these changes, emphasizing the need to recalibrate life goals to achieve a balance between work, family, community and retirement. Don't settle for just financial plan…
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Raising a child with special needs can be both rewarding and challenging. One of the biggest challenges that parents face is planning for their child's financial future. In this episode, financial advisor Mike Douglas discusses the importance of financial planning for parents of children with special needs. If you are a parent of a child with speci…
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Many 401(k) plans have high fees and offer mediocre investment options. This can lead to lower returns for retirees. To avoid the dogs in your 401(k) plan, you need to do your research. In this episode of Michigan's Retirement Coach podcast, Mike provides insights to help you choose the best investments for your needs. Like this episode? Follow, ra…
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Mike Douglas helps break down the math that impacts the rule of 4% for retirement and why it's outdated. He shares the recent research that indicates the rule of 4% only has a 50% success rate and what you can do to secure your financial future. Like this episode? Follow, rate and share! Don't settle for just financial planning; set your sights on …
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If you're nearing retirement or already retired, Mike gives you the tools you need to make sure you have enough income to live a comfortable and enjoyable retirement. In this episode he talks about the income replacement formula and how it can be used to determine how much income you need in retirement. He explains the importance of front-loading y…
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If you're feeling stressed or overwhelmed about your retirement, this episode is for you. Mike will help you change your attitude and take control of your financial future. In this episode of the podcast, Mike Douglas talks about the importance of attitude in retirement planning. He addresses how negative attitudes can sabotage your financial futur…
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Host Mike Douglas, CFP® and co-host Heather Branch uncover the pitfalls of 401(k) planning. Learn how to estimate retirement costs accurately, diversify beyond target date funds, and rebalance your portfolio. From underestimating the true cost of retirement to relying solely on target date funds, Mike provides valuable insights and guidance to help…
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In this episode, Mike Douglas, Michigan's Retirement Coach, delves into the dangers of making financial assumptions in your retirement planning. Drawing inspiration from the classic sitcom "Seinfeld," Mike discusses how assumptions can lead to long-term discomfort and uncertainty. He emphasizes the importance of proactively addressing financial con…
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Join Michigan's Retirement Coach, Mike Douglas, for an insightful discussion on the evolving financial industry landscape. In this episode, Mike and his team share valuable insights on how individuals can prepare for a secure financial future that goes beyond a mere product-centric approach. They delve into the shifts occurring in the industry, she…
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Join Mike Douglas and Heather Branch on this episode of Michigan's Retirement Coach podcast as they explore the crucial elements of family, trust, and financial planning for a prosperous retirement and lasting legacy. Discover the inspiring story of Tony Bennett, the legendary musician, who faced financial challenges until he hired his son as his m…
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Sometimes the way we feel about money and finances stems from the behaviors of our parents and grandparents. In this week's captivating episode, Mike Douglas shares real stories of clients, unraveling the link between our financial behaviors and family influences. Explore the mesmerizing world of neuroscience from Mike's unique POV and learn how to…
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In this episode of Michigan's Retirement Coach podcast, Mike Douglas delves into the importance of smart retirement planning and understanding the impact of taxes on your financial future. Join Mike and co-host Heather Branch as they discuss how many people underestimate the effects of inflation and taxes during retirement. Learn how Mike and his t…
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Join Michigan's Retirement Coach, Mike Douglas, as he discusses the importance of preparing for retirement by considering factors like longevity, family history, and financial preparedness. Mike dives into the complexities of predicting lifespan and shares insights on how lifestyle choices, family background, and health trends can impact retirement…
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In this episode of Michigan's Retirement Coach Podcast, Mike Douglas and Heather Branch discuss the power of portion control, both in our diets and in our financial planning for retirement. Drawing from a news story about a man who lost weight by eating only McDonald's meals in moderation, they explore the concept of portion control and its impact …
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Can you guess how many times we say "plan," in this episode? Because we can't stress enough the importance of a personlized retirement plan that addresses what you need for the lifestyle you want to live. Maybe you're a penny-pincher or maybe you're not! Either way, you can be happy in retirement with the help of Michigan's Retirement Coach Mike Do…
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If you've been saving all your life, it might be hard to let go of those savings to enjoy life with family and friends in retirement. Tune in to hear true stories about going from hoarding to happy in retirement. Don't settle for just financial planning; set your sights on a fulfilling future. Reach out to Mike and his team today at LifePlanWealth.…
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Growing up in a military family, host Mike Douglas learned the importance of hard work, dedication, and integrity from his father. Little did he know that these values would shape his career as a retirement planner, where he helps individuals achieve their dreams. But what's the unexpected twist? The twist is that he'll never use a cookie-cutter pl…
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Comedian Ron White is enjoying his first full year of retirement, but the Blue-Collar Comedy Tour alum admits to holding the door to touring open in case he changes his mind. On this episode of Michigan’s Retirement Coach, Certified Financial Planner Mike Douglas shares his thoughts on the “work” you should plan to do in retirement. Plus, many Amer…
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Michigan's retirement coach Mike Douglas offers a safe space for people to talk about their financial future. But what happens when the check engine light comes on and you know something is wrong? Heather Branch and Mike delve into the importance of a second opinion, leaving listeners wondering what kind of financial trouble they might be in. In th…
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Retire with Confidence! Introducing "Michigan's Retirement Coach," podcast- a thought-provoking podcast designed to guide you towards a fulfilling and financially secure retirement. Join Mike Douglas and his engaging series as he draws upon expert insights from the trusted financial advisors at LifePlan Wealth to help you navigate the complexities …
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Join Mike Douglas on this episode of Michigan's Retirement Coach as he delves into the upcoming expiration of the Tax Cuts and Jobs Act (aka the 'Trump tax cuts') in 2026. Discover how these changes could potentially impact your tax planning and gain valuable insights on strategic moves you can make in the coming years. For more expert advice on we…
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