Keen On Retirement

Is your conservative spending plan in retirement putting a lid on your day-to-day happiness? At Keen Wealth, we tailor financial plans to the specific needs and long-term goals of each client. But whatever tools and strategies we utilize, I think it’s safe to say that we’re helping folks stick to a “savings mindset.” And that’s a good thing! We’ve talked in recent blogs and podcasts about how important it is to get in the habit of saving and investing, especially for new workers (like your kids or grandkids).

As parents, our children are always at the forefront of our concerns, especially during back-to-school season. But as my clients near retirement age, their own parents often become part of the caregiving picture as well. An aging parent who is showing signs of slowing down, or suddenly needs more direct attention after a medical emergency, presents a whole separate set of challenges and responsibilities that can affect your financial planning.

Recently I talked about something that is probably hitting home hard for a lot of you right now: sending kids and grandkids off to college. My son, Devin, has started at the University of Missouri – Science and Technology, and even though Devin is my third child, practice doesn’t make this process any easier. Letting go is tough. All you can do is trust that the examples you’ve set will point your kids in the right direction.

I always look forward to our summer Open House event at Keen Wealth, and this year’s edition was another big success. We had great food, great music, and lots of great company with so many friends and clients in attendance … But boy, did I catch heat from some of you folks!

When I sit down with other financial industry professionals to talk shop, many of them ask me why I devote so much time to the financial education of my clients and online audience via blogs, podcasts, and webinars. Recently, someone quipped to me, “Bill, before I go to the dentist, I don’t read up on cavities and root canals. The dentist tells me what to do, and I do it. Fiduciary advisors and their clients are no different.”

My daughter thought she was doing the right thing, the safe thing … And that’s how hackers drained her bank account. The hacks, viruses, and scams are coming at us fast in 2017. Barely two months ago we were dealing with WannaCry. Last week the Petya ransomware virus attacked the US, Europe, and the Middle East. But credit and debit card fraud has really hit home for me lately. When someone in your family gets hacked, it really strips away the illusion that, “Those kinds of things won’t happen to me.”