Keen On Retirement

Working in some capacity is becoming a regular part of retirement for more and more seniors. But when you're no longer relying on a job to pay your bills or support your family, the meaning of work can take on an entirely different dimension. Transitioning to an encore career can let you make your values and your personal goals a cornerstone of your retirement life. And even if you are comfortable with the size of your nest egg, a little extra padding never hurts!

In recent months, my two daughters have given me a personal perspective on just how hot and how competitive the real estate market is right now. Both decided to buy homes in the Kansas City area, and both had to make unsuccessful bids on multiple houses before they were able to close on their new homes. The thought that millions of families all over the country are trying to navigate these same issues is quite a turnaround from just a decade ago, when folks were hesitant to buy houses in the shadow of the Great Recession.

Many of my new clients want to know if they have enough money to retire. Once I explain that, at Keen Wealth, we don’t believe folks should be focused on hitting some magic number, the follow-up question is almost always, “OK … But how do my assets compare with other people my age?”

Longtime Keen on Retirement listeners might remember a running gag where Matt Wilson and I would joke with our co-host, Steve Sanduski, about all the bitcoin we suspected he was hoarding. At the time, bitcoin had just emerged from one of its periodic freefalls and was starting to seep back into the general public’s awareness.

When we set our monthly budgets or make a long-term plan for retirement, it's common to separate line items into three categories: needs, wants, and wishes. Then, we do the sensible thing and prioritize our needs. Once the mortgage, car payments, utilities, and grocery bills are covered, we move on to deciding if we can schedule a date night at that new restaurant. Maybe a weekend getaway will have to wait until next month.

A few years ago, I was intrigued by the many news stories I was seeing about the new “tiny homes” helping homeless veterans around Kansas City. I reached out and connected with the Veterans Community Project, and the more I learned, the more impressed I was by the impact that the VCP is having. One number really stood out: over 90% of the veterans whom the VCP work with are able to get back on their feet and reacclimate into society.