Keen On Retirement

With all the modern comforts and services available to us, it’s really not surprising that many folks are deciding to “retire in place” and spend their golden years enjoying the familiar comforts of home. Plus today’s seniors are, by and large, healthier, more active, more connected, and more self-sufficient than previous generations. That means they’re also better-equipped to care for themselves longer before turning to alternative living arrangements, such as moving in with adult children or assisted living.

I’ve often seen parents, who have the best intentions, provide ongoing financial support to their adult children that comes at the expense of the parents’ retirement savings. There’s a delicate balance here between our desire as parents to help our children and our need to protect our retirement nest eggs.

A pilot is preparing to depart on a planned flight. As he performs his final inspection, he spots a mechanical issue that he should have caught much earlier in his pre-flight check. Attending to this issue causes the pilot to miss his scheduled morning takeoff.

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.