Keen On Retirement™

At Keen Wealth, "tax season" is never really over. Our checklist-driven, comprehensive planning process is constantly taking in new information about the folks we work with and changes to tax law. By staying ahead of tax issues, we believe we can help limit surprises when April does roll around, especially for retired seniors who are living on a fixed income. I'm glad to see that there are folks in our audience who are staying on top of their taxes throughout the year as well. On today's show, we answer listener tax questions about gold, correcting mistakes on your tax return, and a form you might have received in the mail a couple of months ago.

No two retirements are ever the same. But in my 30-plus years of helping folks navigate the retirement transition, there's one common factor among the retirements that I would consider the most successful. Whether they were achieving an early retirement goal or retiring in the more traditional 65 and up window, the happiest retirees I've known are the ones who were focused on “retiring to” something, rather than “retiring from” work. Folks who just want to stop working because they don't like their jobs often discover that, without a positive mindset and intentional forethought about how they're going to spend their time, they don't like retirement all that much either! As folks near retirement, my Keen Wealth team often suggests that they take a whiteboard or a big sheet of paper and create a blank weekly calendar. Below are ten of the most common "retire to" activities folks are excited to add to their new schedules.

As the founder and editor of HumbleDollar and personal finance columnist at The Wall Street Journal, Jonathan Clements has been providing readers with practical financial analysis for decades. But an article from early June might be the most impactful that he's ever written. Reflecting on his recent cancer diagnosis at age 61, Clements is candid about how facing mortality has forced him to reevaluate his personal, professional, and financial priorities. Sadly, Clements’ story also brought to mind so many folks I've worked with in my career who struggled to find the "right time" to retire, only to have life get in the way. Please, take these lessons from Clements’ experience to heart and don't put off retirement any longer than you have to.

Formulating a one-time, bulletproof financial plan would be incredibly simple if you could supply an advisor with just two pieces of information: exactly how much money you're going to spend every single year in retirement, and your date of death. Absent those two impossible data points, an effective, comprehensive financial plan has to be an ongoing, personalized, and adjustable process, no matter what size your nest egg is. On today's show, we talk through another case study to illustrate how my team at Keen Wealth helps folks plan for a retirement that's much more than just their numbers.

Today's seniors may not have grown up with the internet the way their kids and grandkids have. But you've definitely "grown with" the tech and information revolution. Many boomers were still early in their careers when their employers came online. And as the world has evolved from email to smartphones to social media, they kept pace. Maintaining that curiosity and willingness to experiment with technology can open some exciting doors in retirement. Take time to learn about the latest breakthrough in these four areas. You might find a new hobby or a quality-of-life upgrade that makes life easier, more interesting, or more fulfilling.

"Robin" is a single mother of two high schoolers. She's 45 and she earns about $350,000 per year. Robin had never worked with a financial advisor before, and one of our clients referred her to Keen Wealth because she was looking for help with streamlining her finances and, hopefully, retiring in nine years. On today's show, we run Robin's case through Keen Wealth's checklist-driven, comprehensive planning process and explain how my team arrived at actionable strategies for achieving that early retirement goal.