Keen On Retirement

The perfect Thanksgiving meal requires planning, balance, patience, and a generous guest list. At Keen Wealth, our comprehensive financial planning process uses a similar blueprint to help folks cultivate wealth for retirement. And while the prep can feel like it's taking forever, when you're sitting down at that beautiful, bountiful table, surrounded by your loved ones, the wait is almost always worth it. As you begin setting goals for the year ahead, use this five-step process to infuse your financial planning with a spirit of Thanksgiving.

At Keen Wealth, we often describe tax-planning as an ongoing process, not just something we help folks accomplish every spring. And while Tax Day is certainly circled in red on our annual planning calendars, the end of the year is also an important deadline for some moves that could lower your tax bill. On today's show, we discuss three financial strategies that you and your advisor should consider before December 31st. Please note that we recorded this episode before Election Day. We'll give you our thoughts on how the new U.S. political environment could affect your financial planning in the weeks ahead.

"Tax season" is year-round at Keen Wealth. As we meet with folks throughout the year and help them respond to life's ups and downs, we're constantly reevaluating their portfolios, budgets, and goals to look for more efficient and advantageous tax planning strategies. However, there are certain tax moves that you have to lock in by December 31st in order to apply them to your tax filings the following April. As we head into the fourth quarter of 2024, be sure to talk to your financial advisor and your tax professional about these 10 topics.

Warren Buffett's historic business success and preternatural understanding of the markets earned him the nickname "The Oracle of Omaha." But, as we discussed in a blog post earlier this year, Buffett's life and career can teach folks about more than just market movements and investing principles. That includes estate planning. Since losing his longtime business partner, Charlie Munger, Buffett has been a little more forthcoming about succession at Berkshire Hathaway and his future plans for his large stake in the company. Affluent investors should think about four key public details in Buffett's estate plan as they plan to preserve their own legacies and provide for the next generation.

In many ways, the holiday season is a mirror of what life in retirement can be like. Folks are off work, if only for a few extra days. Schedules tend to revolve around the people we love and the things we enjoy doing, especially cherished family traditions. And even though there can be some stress around prepping meals and crossing items off your shopping list, there are also pockets of quiet where we can enjoy good company and a warm beverage while we reflect on what matters the most. As you celebrate the holidays and prepare for the New Year, consider ways that you can incorporate some of the season's fellowship and good cheer into your 2024 retirement plan.

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.