Keen On Retirement

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.

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.

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.

On today's show, we answer a request from a Keen on Retirement listener who's been reading Garrett B. Gunderson's popular book "Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity." You might have seen some of Gunderson's thoughts about alternative financial strategies passed around online, especially among folks who are skeptical about the markets and the government's role in economic policy. But while there's certainly no one way to create a financial plan, most investors who steer clear of "sacred cows" like investing in a diversified portfolio and funding their retirement accounts could be killing their chances of a secure retirement. Below are several of the points we discuss.

I am not what the kids would call a "Swiftie," but I recognize talent when I see it! So how did I end up in the capacity crowd at Arrowhead Stadium last week watching Taylor Swift? On today's show, we talk about my family's experience at "The Eras Tour" and tie that incredible night into a larger discussion about what money is really for, especially in retirement.

For previous generations of seniors, "retirement" meant the end of work, period. The modern version of retirement often isn't that cut and dry. A growing number of seniors who have achieved total financial independence are "unretiring" not because they need money, but because working in some capacity makes their golden years more purposeful and enjoyable. If any of these thoughts about unretiring ring a bell, it might be time to sit down with your advisor and talk about what returning to the workforce could mean for your financial plan.