Keen On Retirement

The comprehensive financial plans we design at Keen Wealth factor in every piece of available information to help folks plan for what we know is coming and prepare for the unexpected. While recent events at home and abroad are raising some new questions, we did learn some important answers last week that will help folks get ready for 2024. On today's show, we discuss listener questions about Social Security, Medicare, Ukraine and Israel, and year-end financial planning.

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.

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.

Today marks the third time I've had the honor to welcome retired FBI Special Agent Jeff Lanza to our podcast. In his 20-plus-year career, Jeff investigated cybercrime, fraud, organized crime, human trafficking, and terrorism. Jeff is now a regular on TV news, including CNBC, the Fox News Channel, "The Today Show," and "Good Morning America." He's the author of two books and has spoken around the globe and in 49 states, including lecturing at Princeton and Harvard University. On this episode, Jeff offers several actionable steps that folks can take to secure their online info and steer clear of the latest scams.

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.