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2017 just hasn’t gotten any easier, has it? After 10 months of natural disasters, internet hacks, political tumult, and celebrity scandal, I know I’m not the only one looking forward to the start of the holiday season for some much-needed light at the end of the tunnel.
My clients at Keen Wealth are typically smart and prudent people who have been very good at what they do in their careers. In particular, the engineering community that we serve, consists of many of these accomplished professionals that have walked through our doors looking to delegate the task of managing their hard-earned money – capital that will hopefully carry them through their retirement. In my experience, the most successful of those folks are the ones that acknowledge that “they know what they don’t know,” and seek help.
I believe that your retirement equation breaks down into three parts: things that you have total control over (such as how much you save and where you put those savings and investments); things you have some control over (how long you work); and things that you have no control over (short-term market returns, government policy).
Well, recently I came across an excellent article on this subject from the good folks at Age Wave, a company that studies how an aging population affects society. Their research and analyses have been very valuable to advisors like myself as we help the large “baby boomer” generation ease out of the workforce and into retirement. This study breaks down how to prepare emotionally for retirement into five stages: Imagination, Anticipation, Liberation, Reorientation, and Reconciliation. I highly recommend reading the entire article, but today I thought I’d give a brief overview of these five stages and how they relate to your retirement plan.
At Keen Wealth, we try to do our part to keep our clients and listeners informed about the latest online threats. On today’s show we discuss how the Equifax breach happened, and offer some simple but effective cybersecurity tips that will help protect your info, and your money.
A popular trend among the new generation of workers is to set a nest egg target, work and save like crazy to hit it, and then plan to quit the 9 to 5 life at around the same age their parents were probably thinking about buying a first home!