Keen On Retirement

We expect Thanksgiving to be a little stressful, especially if we’re hosting. We plan on being exhausted, especially if travel and kids are involved. And we often mentally prepare for some tension, especially if the dinner conversation turns to politics.

It wasn’t long ago that retirement was an almost automatic decision. Once you turned 65, it was time to retire, start collecting your pension and Social Security, jump over to Medicare, and move down to Florida.

Now that the presidential election is nearly over, I hope that folks will start to focus a little bit more attention on their financial planning to-do lists as we close out 2020. I know it’s tempting to get caught up in speculating what Congress and the Federal Reserve will or won’t do with regards to the economy, the markets, and health care. But those are unknown variables right now that none of us can control.

One of my biggest personal challenges during Covid-19 has been caring for my mother. Working in visits around her health care schedule while also doing everything I can to ensure her safety has given me a real appreciation for just how hard it's been for seniors to get the care and compassion they need in the pandemic environment.

We know at the household level, if we engage in “deficit spending,” that bill will eventually come due and we have to pay it. But at the government level, there are a group of economists who have developed a framework for thinking about how government spending and taxation works.

You have a steady job that pays the bills and puts your abilities to good use. You have loving relationships with your spouse, your children, extended family, and close friends. Your house provides enough space and security. Your golf league gives you a chance to unwind. Your volunteer work improves your community.