Keen On Retirement

If there's one thing we know that the financial markets like, it's certainty. And since the 2024 presidential election was settled overnight -- rather than the weeks it took to count votes in 2020 -- the markets have reacted to the certainty of our new political reality with very strong returns. But as Donald Trump prepares to return to the White House, there are still many lingering questions about how the economic vision he laid out on the campaign trail will or won't materialize. On today's show, we explore some of President-elect Trump’s policy proposals and how they could affect your retirement planning.

Generally, when folks hit their early 60s and feel like they're 3-5 years away from retirement, that's when they start assessing if they're truly ready. Typically, the kids are out of the house; grandchildren might even be in the picture. They've usually achieved some major milestones in their careers. They've enjoyed a few bucket-list experiences and want to start spending more of their time doing the things they love with the people they love. So, what does a clear path to retirement look like to a 62-year-old? As always, Keen Wealth has a checklist!

Most retirees know that, once they turn 73 (if born after 1950), they are required by law to take required minimum distributions (RMDs) from their retirement accounts. But in financial planning, nothing is ever quite that simple. In the past several years, the rules around RMDs have changed in very significant ways. Those changes, other rules around how and when RMDs occur, and changes to the very nature of retirement create complex planning scenarios that affect all retirees in very different ways. To maximize your nest egg, make sure you discuss these lesser-known facts about RMDs with your financial advisor:

When you think about retirement, are you picturing Paris, golden beaches, grandkids, tee times, volunteer work, and long walks with your spouse? Great! Everyone approaching retirement age should have a vision that's inspiring, rewarding, and exciting to plan for. But a truly comprehensive financial plan isn't just about achieving goals. It's also about meeting challenges, both the ones we can predict and the ones that life throws at all of us. At Keen Wealth, we believe it's essential to get out in front of retirement's uncomfortable truths as early as possible. Just about every retiree will need to prepare for these five realities.

Early retirement is a goal that's become a very common plot point in the comprehensive financial plans we put together at Keen Wealth. Young Boomers and older Gen Xers who have the means to stop working or downshift into part-time employment want to enjoy the wealth they've worked so hard for while they're still young enough and able-bodied enough to play their favorite sports, see the world, and spend more quality time with family and friends. But there's much more to early retirement than just hitting a number. Several aspects of your financial plan should be fine-tuned and coordinated to ensure that your nest egg supports today's goals while also ensuring your long-term security in the latter years of retirement. Let's take a look at Keen Wealth's five-point checklist for retiring at 55.

How are you feeling about the upcoming elections? Until about a week ago, I think that many folks might have had November on the periphery of their radar, especially if they don't live in a contested swing state. But the tragic events in Pennsylvania and the Republican National Convention in Milwaukee have probably changed that perception for all Americans. And as interest -- and emotions -- start running higher, it can become very difficult to separate your politics from your financial planning. On today's show, we discuss how elections typically impact the financial markets and what kinds of mistakes investors should try to avoid as we head deeper into election season.