Keen On Retirement™

For a retiree with a multimillion-dollar portfolio, minor fluctuations in the markets might move your net worth up or down tens of thousands of dollars during a typical day, week, or month. After a year or two, these fluctuations will likely look like small blips on an upward, wealth-building trajectory. But what if you earmarked that same five-figure sum for a different ROI: a return on your health? Here is why incorporating personal training into your comprehensive financial plan during the early stages of retirement could be one of the best investments you ever make.

The freshness of the New Year can also help us gain a fresh perspective on what's really important and what we want to accomplish. From a comprehensive financial planning perspective, that might mean looking beyond your numbers and thinking about what your money is really for. On today's show, my Keen on Retirement co-hosts and I share a few words of wisdom that I hope will help you maintain balance during the inevitable ups and downs of the markets, the news, and your life in the year ahead.

This is it! The year you've spent decades working for, saving for, investing for, and planning for. Many people enter their first year of retirement focused on preventing things that could go wrong. But with a little forethought and a positive attitude, a lot can go right this year as well. Here are five keys to thriving financially, physically, and emotionally during your first year of retirement.

One of the joys – and challenges – of every holiday season is the hustle and bustle. All that planning, shopping, baking, wrapping, mailing, travelling, and celebrating fills our calendars with unique things to do, all centered around spending time with our loved ones and showing each other how much we care. But once the leftovers are gone and the wrapping paper is recycled, there's a quiet that settles over many of us. You might still be enjoying some time off work. The rest of your regular routine is probably still on pause. Your grown kids may have headed back to college, or back home with their own families. And any pending plans, meetings, projects, or decisions have been bumped to “after the first of the year." In this quiet week between the end of the year and the beginning of a new one, you might find yourself alone a little bit more than usual, enjoying a walk through your neighborhood or a cup of coffee near the fireplace. And that's when some of life's biggest questions often come to the surface, especially if you're nearing retirement.

"How am I doing?" "Am I falling behind my peers?" "Do I have enough money?" "How does my nest egg measure up?" My team at Keen Wealth spends a lot of time talking folks through these kinds of questions. And, as the years go by and folks enter their 50s, 60s and beyond, that conversation evolves and begins to coalesce around another question: "Can I retire?" You might try to answer these questions on your own by comparing your account balances to benchmarks or rules of thumb you've seen on social media. But are "averages" really the best way to assess where you are on your financial journey, especially as you get closer to retirement? On today's show, we dig into some recent data on retirement savings and discuss why achieving your financial goals is about more than dollars and decimal points.

If you want proof that money alone doesn't buy happiness, just compare these two data points: By any measure, the United States is one of the wealthiest countries in the world -- if not THE wealthiest. And, at the same time, year after year, our collective happiness continues to decline. So, if having more money doesn’t create more happiness ... then what the heck are we all doing? Why are we up at the crack of dawn for our morning commute? What are all those long hours at the office for? Why are we topping off accounts longer than we have to if the ROI isn't making us feel better about our lives and our prospects for the future? A recent poll from YouGov for MarketWatch approached the relationship between money and happiness from a slightly different perspective. I was struck by how the findings align with a core belief we have here at Keen Wealth: financial happiness isn't about accumulating more money. It's about aligning the money you have with your values, your purpose, and a sense of freedom.