Keen On Retirement

Today I’d like to delve into these underpaid benefits issues at the Social Security Administration and raise a couple points that just about anyone who is retired or about to retire should be aware of when it comes to your entitled benefits.

Less than a month to go until Tax Day! I know many of you out there are feeling the crunch, especially if you’re preparing your taxes on your own. But even if you do work with a tax professional, it’s important to have a basic understanding of how the IRS determines your taxable income this year, and an understanding of the new laws going into effect next year.

At Keen Wealth, we try to view these developments through a very wide lens and remind our clients that the long-term upward trajectory of our economy never follows a straight line. Today, I thought it might be useful to narrow our focus a little bit. Let’s look at how the rate of inflation affects your personal portfolio, as well as other factors that don’t necessarily make the headlines but can still impact your purchasing power in retirement.

Deciding when to start taking Social Security payments is one of the most important decisions you and your fiduciary advisor will make about your retirement plan. It’s also one of the trickiest to get right.

I’ve written before that my team at Keen Wealth places a high priority on educating ourselves about trends, innovations, and ideas that could have an impact on the financial and lifestyle planning we do for our clients. Personally, I set aside a few hours out of my workweek for learning time, and recently I came across a fascinating Ted2017 talk from Susan Pinker. She’s a developmental psychologist whose book, The Village Effect, talks about how important face-to-face social bonds are to our longevity and quality of life. I recommend watching Pinker’s entire Ted2017 talk, but I’d also like to focus on a few insights that I think can really help seniors strengthen their social bonds and enjoy a long and prosperous life in retirement.

I’ve mentioned before how vital it is that retirees replace their old 9 to 5 routines with a schedule that keeps them active and engaged. More and more retirees – including some of my own clients – have started taking retirement gap years to help them do just that.