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Keen On Retirement

Insights Blog & Podcast

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A New Approach to Decluttering Your Retirement Thumbnail

A New Approach to Decluttering Your Retirement

Organizing expert Marie Kondo encourages folks to look at their stuff and ask, "Does this spark joy?" The Swedes have a slightly less sunny spin on decluttering: döstädning, or, "death cleaning." As popularized in both a bestselling book and a Peacock reality show, death cleaning is a way for older adults to streamline their possessions so that their heirs won't have to when they're gone. “A loved one wishes to inherit nice things from you,” writes author Margareta Magnusson. “Not all things from you.” But “death cleaning” and the KonMari Method aren't just about clearing out your closets and saving your kids some hassle. Organizing your possessions and your home can have a liberating effect on how you live in retirement and how you plan for your legacy.

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The Psychological Shift from Saving to Spending in Retirement Thumbnail

The Psychological Shift from Saving to Spending in Retirement

There's an old joke among financial advisors that part of our job is to help new retirees get comfortable taking more "SKI" Trips -- meaning, "Spend the Kids' Inheritance!" Many seniors who have worked hard and committed to a comprehensive financial plan retire with more money than they've ever had in their lives. We want those folks to feel safe and secure about their finances as they head into their Golden Years. But we also want them to have fun, pursue their passions, and explore opportunities for growth. To accomplish both goals -- security and enjoyment -- retirees should be aware that it can be difficult to shift from a savings mentality to an “it’s ok to spend even though I’m not receiving earned income anymore” mindset. My team at Keen Wealth focuses our spending conversations with retirees on these four important points.

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7 Preventable Mistakes the Soon-to-Be Retired Often Make and How to Avoid Them Thumbnail

7 Preventable Mistakes the Soon-to-Be Retired Often Make and How to Avoid Them

My team at Keen Wealth has seen retirement play out just about any way you can imagine. We've celebrated with folks as they've clocked out for the last time. We've seen photos of dream vacations, new homes, and new grandbabies. And we've used our comprehensive planning process to help folks adjust to some major challenges, recalibrate the best path forward, and keep progressing toward long-term goals. Unfortunately, we've also seen folks fall short of their retirement goals, often because they tried to "go it alone" at the start of their retirement transitions. If 2024 is going to be the year that you finally retire, talk to your loved ones and your advisor about how you can steer clear of these seven preventable retirement errors and set up your Golden Years for success.

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Can You Retire Comfortably with $2 Million Saved? Thumbnail

Can You Retire Comfortably with $2 Million Saved?

According to a recent Charles Schwab survey, U.S. workers believe they'll need around $2 million to retire. Using the old 4% Rule for some back-of-the-napkin math, those retirees are expecting to withdraw about $80,000 their first year in retirement, with future withdrawals going up or down from there based on how much annual savings and investment returns replenish their assets. We also know in most cases there will be other income sources like social security or pension income. So, is $80,000 per year from your investment portfolio, give or take, enough to live on in retirement? That's a much more complicated question to answer than some folks realize. So many factors that affect retirement planning are in a state of constant flux – most of all, your life. A financial plan that's built around static numbers might not be able to adjust how and when you need it to. Let's talk about some of the variables that factor into Keen Wealth's comprehensive planning process and try to arrive at a more thorough analysis of a $2 million nest egg goal.

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Keen on Retirement’s Top 5 Podcasts and Blogs of 2023 Thumbnail

Keen on Retirement’s Top 5 Podcasts and Blogs of 2023

How do you adjust your financial plan to cope with inflation, higher interest rates, and an up-and-down economy? Our most popular blogs and podcasts of 2023 all touched on that question in some way, especially from the perspective of retirees living on a fixed income. Our discussions also eventually arrived at a similar conclusion: you need to have a plan! Comprehensive financial planning puts tools at your disposal that can keep you on track for a successful retirement, no matter what’s happening in the outside world. And working with an experienced advisor, like my team at Keen Wealth, could potentially eliminate so much of the worry and uncertainty from figuring out what moves are going to keep your short-term needs and your long-term goals in sync.

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How Retirement Rituals Can Add Structure and Meaning to Your Golden Years Thumbnail

How Retirement Rituals Can Add Structure and Meaning to Your Golden Years

Retirees often have a bucket list of places they want to visit, experiences they want to try, and far-flung friends and family they want to spend time with. But while crossing off bucket list items can be some of the most meaningful moments of retirement, you're probably not going to spend most of your retirement touring Paris or hiking the Grand Canyon. What you do day in and day out for those other 40-45 weeks of the year will probably have a bigger impact on how you feel about your retirement and yourself. Being intentional with your time can become a powerful habit that makes your daily life in retirement more meaningful. Try incorporating some of these retirement rituals into your new schedule and you might start to appreciate just how rich every day can be.

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