Keen On Retirement

The May 2020 jobs report could mark a turning point in our country’s struggle to get back on its feet after the Covid-19 pandemic. While some experts were bracing for up to 7 million more lost jobs, instead we got a pleasant surprise: 2.5 million jobs added and a 1.4% drop in unemployment.

Any time there’s a lot of data moving from A to B, folks have to be extra vigilant about protecting themselves from hacks and scams. Back in 2018, when approximately 59 million Americans started receiving new Medicare and Medicaid cards, fraudsters pounced, claiming they were calling on behalf of the government to “confirm” those new ID numbers.

For most of our clients at Keen Wealth, the end result of hard work and diligent financial planning is a happy retirement. A big reason for that is how our process helps clients to plan for not just financial security, but for their daily lives in retirement: the things they want to do, the hobbies and interests they want to pursue, the people they want to share this new stage of their lives with.

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.

Even before the COVID-19 pandemic, unexpected early retirement was on the rise. The broad challenges of globalization combined with shifting workplace dynamics had led to a wave of downsizing, buyouts, and sudden termination. COVID-19 is accelerating many of those changes to how, when, and where folks work, but it’s also had an immediate and devastating effect on employment.

Last week’s job numbers have had a big impact on this week’s main topic of discussion: reopening.