Keen On Retirement

Effective financial planning is all about looking ahead. That's true for both people who are working towards retirement, and for my team at Keen Wealth. I believe that our ongoing commitment to educational events, learning, and professional development is essential to the work we do for our clients. And as the founder and CEO, I'm also committed to growing Keen Wealth into a firm folks can trust and count on today, tomorrow, and into the next generation.

Bob Buford's HALFTIME: Moving from Success to Significance offers a possible solution that's stuck with me ever since I first read the book about a decade ago. Buford was a successful cable TV exec who revaluated his priorities and made a very intentional plan for the second half of his life. I believe all seniors can adapt his three-part process to their retirement transitions and redefine who they are in a meaningful way.

Here are three things seniors should be thinking about as they plan for their second or third professional act.

As retirement nears, folks tend to become very focused on how they're going to spend their money. But figuring out how you're going to spend your time in retirement is every bit as important. According to a 2021 study by Edward Jones and Age Wave, the pandemic renewed the emphasis that people place on purpose. In fact, their survey found that post-pandemic, "Ninety-two percent of retirees now agree that purpose is key to a successful retirement."

Seniors may have noticed that the Social Security Administration (SSA) has redesigned the periodic statements it sends about your benefits. Perhaps one of the most helpful changes is that these statements now explain how much your monthly benefits will be depending on when you decide to take Social Security. In my experience, some seniors head into retirement with slightly unrealistic expectations about these benefits. These new statements will help folks get a better idea of where their benefits will fit in to their overall retirement plan.

Successful retirement doesn't just happen. Getting the most out of your golden years takes lots of hard work, years of careful planning, and preparation for the emotional, physical, and financial changes you're going to go through once you stop working.