Keen On Retirement

By the time it works through Congress to President Trump's desk, The One, Big, Beautiful Bill will probably have a few different details, and a different name. But the version of the bill that recently passed in the House gives us a fair indication of where tax policy could be headed for the next few years. On today's show, we discuss the current version of the 2025 tax bill, potential changes that Congress might make, and potential ways this bill could affect your financial plan.

As we discussed on a recent podcast, converting money from a traditional IRA into a Roth IRA could be a beneficial move this year due to ongoing market volatility. But that's not an automatic decision. Everyone's retirement plan and goals are different. Everyone's situation in life is different. And while a well-timed Roth conversion can help folks save money now and build wealth in the future, you shouldn't be thinking about a conversion as a lifesaver that's going to support you through some turbulence all by itself. In fact, here are several scenarios where a Roth conversion could hurt your retirement plan more than it helps.

According to recent data, 62 has become the new 65. This generation of healthier, more active, more connected seniors wants to start enjoying their Golden Years as soon as possible. But there's one reason why age 65 is still a major marker on a retirement timeline: Medicare eligibility. Early retirement can also trigger some critical decisions about the best time to start claiming Social Security benefits. Let's look at five items on Keen Wealth's early retirement checklist that we use to help seniors bridge the gap to Medicare and Social Security.

With about a month until Tax Day on Tuesday, April 15th, you should, ideally, have all your financial documents collected. It might be a good idea to check in one last time with your financial advisor before you send your 2024 data to your CPA or start plugging away on your favorite tax software. But as you put a bow on last year, it's important to keep an eye on the future, especially for retirees. Cracking open your nest egg and sequencing how and when you use your assets and benefits is a complex process. Decisions you make today can affect your lifetime tax liability, the lifestyle you can enjoy during your Golden Years, and your legacy planning. On today's show, we use this combination of short-term and long-term perspective to tackle some listener tax questions and explain how the Keen Wealth Advantage can help you feel more confident about how taxes fit into your comprehensive planning.

No matter how you feel about your upcoming retirement, there's no denying that letting go is a part of navigating this life transition. Your daily schedule is going to change. You won't have professional responsibilities. You probably won't see your work friends as often. And you'll lose the comfort of a monthly paycheck and your benefits, including your old health insurance. But while you might have mixed feelings about some of the things you're leaving behind, letting go in retirement can also be liberating! Retirees can cross these ten items off their to-do lists and spend more time focusing on the people and activities that they love.

"Sam" is 58 and he retired at the end of the first quarter of 2024. His wife, "Alice," is 65 and still working as a paid caretaker for the couple's son with special needs. Sam has $400,000 in a Roth IRA, $2 million in a traditional IRA and they have $400,000 in a joint taxable account. In 2024, Sam earned $75,000 and Alice earned $20,000. And, like so many couples in their age range, Sam and Alice want to know if their nest egg is ready to support them as they prepare for retirement. On today's show, we use Keen Wealth's comprehensive planning process to help "Sam and Alice" analyze their financial situation and identify some key decisions they'll need to make to keep their money and their lives in sync.