Keen On Retirement

I try to encourage seniors to think about retirement as a beginning, not an end. That means it's never too late to dive into activities that you set aside for "someday" or never quite found time for when you were busy working and raising your family. And that definitely includes your health. I learned from my own personal fitness journey that if you set goals and commit to them, you'll be amazed what you can accomplish at any age. Try this quick three-step process to clear some mental, emotional, and financial hurdles that could be standing between you and a healthier retirement.

Without careful analysis and planning, taxes can become one of the biggest expenses for retirees -- if not the biggest. Matt Wilson, Chief Investment Officer and President of Keen Wealth Advisors, recently hosted a webinar discussing the tax issues you could face at four stages of retirement. Today's podcast episode hits on some of Matt's key points and answers important follow-up questions from webinar attendees. Together, this content provides a full picture of how Keen Wealth integrates both annual tax preparation and long-term tax planning into a comprehensive financial plan.

In the run-up to retirement, many folks are very focused on how their finances are going to change. But as you're working on an annual withdrawal strategy, reconsidering your monthly budget, and preparing to transition to Medicare, it can be easy to overlook how retirement will impact you psychologically and emotionally. And, unlike clocking out on that last day of work, the way your thoughts and feelings change in retirement won't be a "one-and-done" experience. It's likely that you'll go through many ups and downs as you progress through these five stages.

Is your brain getting the workout it needs to keep you mentally sharp in retirement? Medical science has established a pretty clear link between physical and mental health. According to Harvard Medical School, a variety of mental stimulation, paired with regular exercise and a healthy diet, can create new neural connections in your brain, regenerate new brain cells, and even protect the brain against the loss of cells in the future. The Mayo Clinic says that same mix of healthy living and thinking can lower your risk of developing Alzheimer’s or dementia. And CogniFit Research recommends “brain fitness” as a means to maintain working memory, planning ability, focus, and the speed at which we process information. Consider mixing some of these brain-boosting activities into your retirement wellness routine.

The connection between money and happiness has always been one of the most personal and complicated parts of the financial planning process. After all, "happiness" means something different to all of us. And those definitions can change as we progress through life, especially when we're navigating meaningful life transitions. On today's show, we dive into some new research on money and happiness. We also discuss some of the important things in life that money can and can't buy and how a comprehensive financial plan can support your vision of happiness at every stage of your life.

On today's show, we discuss a topic that many of us will deal with from multiple angles: caring for elderly family members. Many baby boomers who are transitioning into retirement have also become caregivers for their parents or older relatives. At the same time, these retirees may be beginning to talk to their children or grandchildren about some estate planning basics and how they want to be cared for if they start to experience a decline later in life. These are some of the most challenging decisions to make and some of the hardest conversations to have. But making a plan while you and the people you're caring for are still healthy and opening up about your wishes with loved ones can make the tough times we all experience in life a little bit easier down the road.