Keen On Retirement

If you think about your comprehensive financial plan as a long flight from here to retirement, then risk and uncertainty are like the turbulence, bad weather, delays, and cancellations that all travelers have to deal with. Sometimes, these disruptions flash on our radar well in advance. Sometimes, they pop up at a moment's notice. But understanding how your retirement flight plan is built to avoid, absorb, cope with, and even steer clear of certain challenges can reduce stress and help you enjoy the journey a bit more. Let's talk about how my team at Keen Wealth approaches risk and uncertainty in our planning process and some strategies that can help folks stay on course for their dream retirement.

This year's annual Medicare Open Enrollment period runs from October 15th to December 7th. Whether you're already on Medicare or about to claim your benefits for the first time, seniors need to make sure they get the care they need at a price that fits with the rest of their comprehensive financial plan. On today's show, we answer listener questions about Medicare Open Enrollment to help you get ready for this important part of your annual planning process.

Is 2024 going to be "The Year?" Are you aiming for retirement and starting to get serious about comprehensive planning? Or perhaps you're already retired and wondering if your financial plan needs to prepare for what could be a tumultuous year both politically and economically. In either case, Keen Wealth's philosophy is consistent: plan for what you can anticipate so that you can adjust to the unexpected. Your 2024 retirement planning checklist should start with these seven items.

In a recent survey, non-retired adults told investment firm Schroders that they will need approximately $5,000 per month "to enjoy a comfortable retirement." But is that really enough? Maybe! Studies and surveys like these make for eye-catching headlines, but they skimp on the details. For example, where are these retirees planning on living? $5,000 per month is going to go a lot further in, say, Kansas City than it will on the coasts.

It's worth celebrating just about any time our leaders on both sides of the political aisle can meet in the middle. But seniors in Kansas City, MO should all be smiling now that, starting in 2024, they’ll get to enjoy a little bit more of their Social Security benefits. Thanks to a broadly bipartisan vote, Missouri is set to become the 39th state to make Social Security payments exempt from state taxes. Of course, that also means many folks in our audience will have to factor in a new variable when they're deciding when to take Social Security. Luckily, Matt Wilson, Keen Wealth's Chief Investment Officer and President, recently hosted a comprehensive webinar on Maximizing Social Security Benefits that you can rewatch on our website. Today, we're going to discuss some follow-up questions Matt received from attendees.

As retirement closes the chapter of your life as a full-time worker, it opens a new chapter in your relationship with your spouse. Retirement can be a time for couples to reconnect with each other, strengthen bonds, explore new opportunities, and grow together. And now that you’re both free from the time constraints of working and raising a family, you can spend your time sharing activities you've always loved, as well as discovering new passions that could take retirement in surprising directions. I often recommend that new retirees start with a blank sheet of paper or a blank calendar and try to build out what a day, week, month, and year of their ideal retirement would look like. Here are some ideas you can use to fill in all those blocks with fun, fulfilling, and lasting memories.