Keen On Retirement

On November 28th, Berkshire Hathaway Vice Chairman Charlie Munger died at age 99. Munger and his partner, Warren Buffett, became billionaire sages whose words reverberated throughout the markets. Their appearances at Berkshire's annual shareholder meetings were appointment viewing for many financial professionals. And while Charlie's "Mungerisms" often served as a succinct counterpoint to Buffett's more loquacious commentaries, the two were almost completely in sync on how they thought about work, investing, and philanthropy. On today's show, we reflect on the lives and legacies of these two business icons and discuss what lessons investors and seniors can learn from their phenomenal success.

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.

Being grateful can be hard work. The media bombards us with so much bad news, and our lives are so full of everyday stresses that it's easy to lose sight of all the good things we have going for us. And when we're really low, gratitude might even feel a little out of reach. However, as we discuss on today's show, intentionally incorporating gratefulness into your daily routine can create a positive mindset that improves all aspects of your life, from your health and your relationships to your financial planning.

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.