Keen On Retirement

As we head into the summer vacation season, one item that's high on many travelers’ wish lists is value. With the pandemic finally in the rearview mirror, high demand for travel is driving up costs. Additionally, the markets are still recovering, and consumer prices and inflation are still above average. That's enough to make even affluent retirees nervous about spending money on entertainment and leisure while nervous about their long-term security.

Matt Wilson's latest Market Update webinar touched on some important topics that you've probably seen in the headlines lately: interest rates, inflation, bank closures, the debt ceiling debate, and economic growth forecasts for the rest of the year. But if you're just getting your info on these things from social media or cable news, Matt's approach was likely a breath of fresh air. At Keen Wealth, we try to provide clear-eyed analysis without the hype so that folks can understand the practical effects that hot-button issues could have on their financial plans and their retirement. On today's show, we recap some of the bullet points from Matt's Q2 Market Update and answer a few follow-up questions from folks who attended the webinar.

I know I say this every time we answer listener questions, but these are some of my favorite episodes of Keen on Retirement. I love hearing from listeners trying to think through crucial financial planning issues and be proactive about their lives. And I'm thrilled that so many folks in our audience took the time to attend our most recent webinar on Retirement Spending, reflect on the info that Keen Wealth's Matt Wilson presented, and send in thoughtful follow-up questions on a wide range of essential topics.

U.S. life expectancy is trending in the wrong direction for the first time in decades. According to data from the Center for Disease Control, in 2014 the average American was expected to live 78.9 years. In 2021, after several years of plateauing life expectancy, that figure dipped to 76.4 years, the sharpest 2-year decline in over 100 years. From a financial planning perspective, Keen Wealth still believes that folks need to prepare for a retirement that's going to last, potentially, decades. But this latest life expectancy data does raise some important issues about what we can do both individually and in our communities to turn these trends around so that we can all enjoy our golden years to the fullest.

We received very positive feedback from folks who attended our most recent educational webinar, "Timing is Everything." And, we also received some excellent follow-up questions that we're going to address on today's episode. Our conversation ranges from transportation costs to health insurance and asset allocations. We also discuss what we mean by “timing” in retirement and how Keen Wealth’s comprehensive planning process prepares folks for the best half of life.

Even happy, successful retirees can experience some turbulence as they transition into the second half of their lives. I hope that folks who are preparing for or just starting retirement can learn from some of the most common regrets that retirees have talked to me about so that your journey into retirement can be a little bit smoother.