Keen On Retirement™

More often than not, the milestones we look back on in the financial services industry are negative in nature: Black Monday in 1987, the dot com bubble burst around 2000, the collapse of Lehman Brothers in 2008, The Great Recession of 2007 – 2009, the Flash Crash of 2010. Even as we remember how these events made life incredibly difficult for a lot of folks in the moment, the economic lessons we learn tend to trend positive: time and time again, our resilient economy continues its long-term upward trajectory.

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.

The difference between the fiduciary and suitability standards is such a popular topic on “Keen on Retirement” because it’s such an important distinction. If you’ve never worked with a financial professional before, then you need to be crystal clear about the terms of your arrangement, the means by which the professional is compensated, and how committed both parties are to realizing your dream retirement scenario.

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.