Keen On Retirement

Even before the COVID-19 pandemic, unexpected early retirement was on the rise. The broad challenges of globalization combined with shifting workplace dynamics had led to a wave of downsizing, buyouts, and sudden termination. COVID-19 is accelerating many of those changes to how, when, and where folks work, but it’s also had an immediate and devastating effect on employment.

As our country starts reopening, it’s become clear that the COVID-19 pandemic is going to be one of those generational “before and after” moments. Just like travel and public security were never the same after 9/11, COVID-19 is going to change how we gather in public, how we assess and prepare for new viruses, how our children and grandchildren learn, and how companies of all sizes do business.

“How are you?” I bet I’m not the only one who’s stumbled over that question recently when I’m talking on the phone, video chatting, or answering emails. It’s rarely been so tough to answer such a simple question! I’m OK in the sense that my family and my Keen Wealth team are all healthy and continue social distancing. I’m OK in the sense that we have enough food, enough toilet paper, and enough on demand entertainment.

Far below the concerns we’re all feeling for our nation’s health care system, the millions of unemployed workers, and the strength of our economy, there’s a growing list of smaller ways that Covid-19 has negatively affected our lives. I sure wish I could be tuning into Royals games right now, but will there even be baseball this year? Is the NBA going to finish its season?

A few weeks ago, I don’t think many folks had heard the phrase “social distancing.” But now, maintaining safe, hygienic spaces that help limit the spread of the coronavirus is just a part of our lives.

This time last year, the big story in finance was gearing up for our first go around with the new tax laws that were passed at the end of 2017.