Michigan's Retirement Coach Podcast With Mike Douglas

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.

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.

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 sum up front or taking a monthly pension for the rest of their life. Which is better?

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.

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 of the prospectus they receive every year.