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President & Founder,
Global Plains Advisory Group, Inc.
Scott M. Dougan is President & Founder of Global Plains Advisory Group Inc. and Global Plains Financial Services LLC. His primary focus is in 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, investment adviser representative, licensed insurance agent, and holds a Series 65. He and his wife, Jennifer, reside in Prairie Village, Kansas.
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.
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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.