Michigan's Retirement Coach Podcast With Mike Douglas

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has been regarded as the safest percentage to withdraw each year to never run out of money, but is that calculation outdated?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 build...

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 doll...

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 practice year-round, you need to start planning fo...

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 a...

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 ident...

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 to expose what their clients are really paying an...

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 minimum distribution? Mike shares what could save...

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 journey, Mike shares insights into the importance of...

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 discusses how these moves could affect your retiremen...

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 in retirement. Understand the importance of col...

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 into politics, we discuss the increasing nation...

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 goals they have for every plan they create in the L...

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 highlighting historical market downturns and upturns.  ...

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 retirees.   Don't face the challenges alone.  Vi...

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 Follow! Mike and the whole team at LifePlan Financia...

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 Design can help you navigate the complexities of retire...

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! Mike and the whole team at LifePlan Financial Desig...

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 complexities of retirement planning in Michigan....

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 to the concert stage and, along with the Nashville...

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 Feedspot's Top Retirement Podcasts to Follow! Mike...

 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 settle for just financial planning; set your sigh...

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 typically a wealth-growing play, but they can serve a...

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 issues that demand a reevaluation of retirement plan...

Michigan's Retirement Coach, Mike Douglas, discusses the profound shifts in the market and economy post-2020. He explores 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 planning; set your sights on a fulfilling future. Michigan's Retirement Coach wa...

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 special needs, this episode is essential listening. Lea...