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.
When our leaders in Washington passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act in 2019, it marked a major change in retirement planning. In a sense, the government was codifying advice that many financial advisors -- including my team at Keen Wealth -- had been giving for years. The next generation of retirees is going to live longer, with more active lives than any before it. Very few younger workers are going to stay at the same company for decades and earn generous pensions. Very few older workers will automatically retire at 65. And for most folks, Social Security alone will not fund a safe, secure, and rewarding retirement.
It's clear from our latest batch of listener questions that the Keen on Retirement audience has been paying attention to how recent legislation is affecting retirement planning. But today's episode should also clarify just how challenging it can be for folks to find the answers they need when so many details keep changing. My team at Keen Wealth doesn't just dig into the fine print: we understand how to apply these rules to individual financial scenarios and create appropriate outcomes for folks in retirement.
Thanks to the tremendous support of the Keen Wealth community, our podcast audience, and readers of our blog, I'm thrilled to announce that that the 2nd Edition of Keen on Retirement: Engineering The Second Half Of Your Life has hit Amazon's best-seller list! I think one of the reasons that folks have connected with the book is that I try to present up-to-date information on things like the SECURE Act and Medicare with an eye towards the big picture. And I think maintaining that wider perspective in your financial planning has only become more important since I published the 1st Edition of the book in 2019. The pandemic accelerated so many things in our society, from how we connect and communicate to how our government thinks about retirement. If you aren't working with an advisor and following a comprehensive financial plan, it's very easy to let the news of the day or the hot get-rich-quick pitch lead you off the path towards a safe, secure, and fulfilling retirement. On today's show, we talk about some of the additions I made to the 2nd Edition of my book. I sincerely hope that this new material and our discussion broadens your own perspective and helps you maintain focus on sound financial planning principles.
The pandemic closed a lot of doors in 2020. But for cybercriminals, business is always open. The more time folks spend socializing, working, shopping, and managing money online, the more sensitive data could be vulnerable to hacks and scams. Click on the wrong link or answer the wrong phone call and you could be at risk for significant financial loss or identity theft issues that can take weeks, months, or years to sort out.
Recently I had the honor of participating in a video conference with CEOs and small business owners in the greater Kansas City area where we shared our perspectives on how to reopen our local economy safely and effectively.