Keen On Retirement

Without careful analysis and planning, taxes can become one of the biggest expenses for retirees -- if not the biggest. Matt Wilson, Chief Investment Officer and President of Keen Wealth Advisors, recently hosted a webinar discussing the tax issues you could face at four stages of retirement. Today's podcast episode hits on some of Matt's key points and answers important follow-up questions from webinar attendees. Together, this content provides a full picture of how Keen Wealth integrates both annual tax preparation and long-term tax planning into a comprehensive financial plan.

In the run-up to retirement, many folks are very focused on how their finances are going to change. But as you're working on an annual withdrawal strategy, reconsidering your monthly budget, and preparing to transition to Medicare, it can be easy to overlook how retirement will impact you psychologically and emotionally. And, unlike clocking out on that last day of work, the way your thoughts and feelings change in retirement won't be a "one-and-done" experience. It's likely that you'll go through many ups and downs as you progress through these five stages.

At its meeting on June 14th, the Federal Reserve did something that it hasn't done in 15 months: it decided not to raise interest rates. This slight pause in the Fed's battle against inflation gives us an opportunity to discuss the state of our economy and the markets at the midway point of 2023. On today's show, we take stock of the latest market data, put current inflation and interest rates in their proper context, and consider the United States' place in the global economy.

Is your brain getting the workout it needs to keep you mentally sharp in retirement? Medical science has established a pretty clear link between physical and mental health. According to Harvard Medical School, a variety of mental stimulation, paired with regular exercise and a healthy diet, can create new neural connections in your brain, regenerate new brain cells, and even protect the brain against the loss of cells in the future. The Mayo Clinic says that same mix of healthy living and thinking can lower your risk of developing Alzheimer’s or dementia. And CogniFit Research recommends “brain fitness” as a means to maintain working memory, planning ability, focus, and the speed at which we process information. Consider mixing some of these brain-boosting activities into your retirement wellness routine.

The connection between money and happiness has always been one of the most personal and complicated parts of the financial planning process. After all, "happiness" means something different to all of us. And those definitions can change as we progress through life, especially when we're navigating meaningful life transitions. On today's show, we dive into some new research on money and happiness. We also discuss some of the important things in life that money can and can't buy and how a comprehensive financial plan can support your vision of happiness at every stage of your life.

In Part 1 of this two-part series on luxury travel for retirees, we shared some tips on getting the most vacation for your money and took a brief tour of some U.S. hotspots. In Part 2, we are going to explore some international destinations that you might want to consider adding to your bucket list. With proper planning and budgeting, this could be the year you take your dream vacation or journey somewhere unexpected that opens your eyes to how wide and wonderful the world is.