Keen On Retirement

In four of the last five presidential elections, the Democratic and Republican candidates were separated by just 5% of the popular vote. And, in two of those four elections, the winner of the popular vote lost the Electoral College.

We know at the household level, if we engage in “deficit spending,” that bill will eventually come due and we have to pay it. But at the government level, there are a group of economists who have developed a framework for thinking about how government spending and taxation works.

Nearly seven months later the Covid-19 situation remains very fluid. Infection and hospitalization numbers are stabilizing in some states and picking up in others. One constant has been the inspiring work that health care professionals and scientists are doing to help the sick and keep moving forward on a vaccine.

You have a steady job that pays the bills and puts your abilities to good use. You have loving relationships with your spouse, your children, extended family, and close friends. Your house provides enough space and security. Your golf league gives you a chance to unwind. Your volunteer work improves your community.

During the pandemic, we’ve talked quite a bit about potential positive outcomes of this unprecedented experience. One plus that I’ve noticed recently is that more people do seem to recognize the importance of having a financial plan, whether they’re just starting the process or refining some details with their fiduciary advisor in light of all that’s happened this year.

Retirement means that you're done working full time, but it doesn't necessarily mean that you're done making money.