Keen On Retirement

Happy 2024 from the team at Keen Wealth Advisors! The Dow sent us into the New Year on a high note -- literally -- by hitting a new all-time high in December on the back of some very positive economic news. Employment and job creation are still strong. It looks like we're going to avoid the recession that some analysts have been predicting for the better part of two years. And the Federal Reserve is hinting that it might be done with interest rate hikes as well. That's a pretty good jumping-off point for a year that, I can confidently predict, sure won't be boring. Elections, Olympics, big changes to how and where we work, advances in AI and other tech, ongoing conflicts across the globe, Leap Day -- there's a lot to look forward to in 2024, but also a lot of very serious matters to keep tabs on, and a lot of potential distractions to filter out of your financial planning.

How do you adjust your financial plan to cope with inflation, higher interest rates, and an up-and-down economy? Our most popular blogs and podcasts of 2023 all touched on that question in some way, especially from the perspective of retirees living on a fixed income. Our discussions also eventually arrived at a similar conclusion: you need to have a plan! Comprehensive financial planning puts tools at your disposal that can keep you on track for a successful retirement, no matter what’s happening in the outside world. And working with an experienced advisor, like my team at Keen Wealth, could potentially eliminate so much of the worry and uncertainty from figuring out what moves are going to keep your short-term needs and your long-term goals in sync.

On November 28th, Berkshire Hathaway Vice Chairman Charlie Munger died at age 99. Munger and his partner, Warren Buffett, became billionaire sages whose words reverberated throughout the markets. Their appearances at Berkshire's annual shareholder meetings were appointment viewing for many financial professionals. And while Charlie's "Mungerisms" often served as a succinct counterpoint to Buffett's more loquacious commentaries, the two were almost completely in sync on how they thought about work, investing, and philanthropy. On today's show, we reflect on the lives and legacies of these two business icons and discuss what lessons investors and seniors can learn from their phenomenal success.

When we fall behind on our holiday shopping lists, there are usually some last-minute deals and expedited shipping options that can help us catch up. But if you fall too far behind on your annual financial planning checklist, you might miss out on some important rule changes or time-sensitive strategies that could impact your retirement next year. Based on the questions we've been fielding lately from Keen on Retirement listeners and readers, I'm glad that so many folks are making time during the holiday hustle and bustle to think about some important issues and get a jump on their 2024 financial planning. On today's show, we discuss popular questions about next year's tax brackets, a controversial video about retirement withdrawals that's been making the rounds on social media, and how seniors should be planning for long-term care.

Being grateful can be hard work. The media bombards us with so much bad news, and our lives are so full of everyday stresses that it's easy to lose sight of all the good things we have going for us. And when we're really low, gratitude might even feel a little out of reach. However, as we discuss on today's show, intentionally incorporating gratefulness into your daily routine can create a positive mindset that improves all aspects of your life, from your health and your relationships to your financial planning.

Retirees have earned every minute of R&R that they want to enjoy. But your favorite lounge chair probably isn't going to fulfill you all by itself for the years, if not decades, of senior living you have in front of you. The happiest retirees we work with at Keen Wealth find that sweet spot between taking it easy and being proactive about how they use their time. Try using some combination of these five ideas to experience more from life in your own retirement.