Keen On Retirement

What's the biggest threat to the long-term security of your retirement plan? Many seniors would answer, "The economy," or "The markets." And that makes sense. No matter how much you try to control your screen time, financial news will always make a big impression on how you feel about your money. But as nerve-wracking as market fluctuations can be in the moment, in the long run, they continue trending upwards and generating positive returns for most investors. That's why a truly comprehensive plan should be prepared to manage not just market fluctuations, but more personal and less obvious threats that can erode a senior's wealth over the course of a 30-year retirement. The next time you meet with your advisor, discuss how your plan protects you and your money against these five threats:

I believe that The Keen Wealth Advantage helps folks feel more confident about comprehensive financial planning and their road to retirement. I also believe wholeheartedly in the consumer being as educated as possible on their various options before entrusting their planning and investing to any financial advisor. This is one of the key reasons we are now in our 10th year of producing this podcast and blog, answering listener questions and giving listeners a candid “look behind the curtain” on all things personal financial planning. When you're meeting with professionals who could be managing your life savings for the rest of your life, there has to be more than just a personality fit. While personality is important, you also need to know what questions to ask and what warning signs to look for. Do they have a disciplined process and the depth and breadth of experience and resources to undertake this most serious responsibility? Are you able to confidently discern what your overall client experience will look like and know that they take the appropriate steps to ensure your confidential information is protected and that rules and regulations are being complied with? On today's show, we answer two discerning listener questions that should help you have more productive meetings with potential advisors.

As we wrap up graduation season, I know parents and grandparents are dealing with a whole bunch of emotions: pride, excitement, sadness, relief, hope, and concern. And as you experience all these feelings, you may feel moved to do what you've always done throughout that child's life: help. But whether we're talking about major life milestones or financial market volatility, that intersection of emotion and money can be a very tricky place to navigate. Today's generosity could have significant long-term consequences that might hold your adult child back from real adulthood and dent your retirement plans. Make sure you and your spouse discuss these issues and work out a plan that will truly support adult children without sacrificing your other financial goals.

2025's complex economic picture took on another dimension over the weekend as the U.S. waded into tensions in the Middle East. Setting aside the important humanitarian and security issues I know we're all concerned about, it's understandable that investors might worry about more disruption to their financial plans, especially if they're retired. The good news, from this very narrow perspective, is that the markets have responded well to the potential ceasefire between Israel and Iran. But issues around war, as well as the supply, demand, and production of oil, are always factors that could make Wall Street jittery. Given that we're also still staring down potential tariffs against China, uncertain inflation and interest rates, and deep political divisions at home, should folks be preparing for a bear market? The short answer is yes, because investors should always be prepared to manage the inevitable peaks and valleys of the markets. But rather than making predictions right now, I think it might be helpful to break down the differences between bear and bull markets. A little extra perspective might give you some added peace of mind as you think about your financial planning. To set the stage, when I entered the financial services industry in the early 90’s the Dow Jones Industrial Average was around 3,000. Today it sits at 43,000. The wealth-building opportunities in the capital markets can be very powerful over time if understood accurately. Although, it’s important to note that the returns do not come in a straight line.

At Keen Wealth, we don't just want seniors to make it to retirement -- we want them to set themselves up to enjoy it! And achieving that all-important goal takes more than just hitting a "number" or buying the perfect beachfront condo. According to a recent study by Fidelity, 72% of retirees say that their retirement is "going as planned." These seven practical, actionable steps will help you join their ranks when you're ready.

By the time it works through Congress to President Trump's desk, The One, Big, Beautiful Bill will probably have a few different details, and a different name. But the version of the bill that recently passed in the House gives us a fair indication of where tax policy could be headed for the next few years. On today's show, we discuss the current version of the 2025 tax bill, potential changes that Congress might make, and potential ways this bill could affect your financial plan.

For the eighth year in a row, the happiest country in the world is ... Finland! An annual collaboration between Gallup polling, the University of Oxford, and the United Nations, the 2025 World Happiness Report asked respondents from more than 130 countries to rate their lives on a scale from zero (the worst) to 10 (the best). Researchers also factored in questions about kindness and generosity, as well as how people perceive the benevolence of their neighbors. Not only did Finland claim the top spot, but fellow Nordic countries Denmark, Iceland, Sweden, and the Netherlands rounded out the top five. And the United States? We actually dropped from 23 last year down to 24, due in part to younger people feeling more pessimistic about the future. So, where would you rate yourself on that scale? Is there anything we can do to experience more happiness in our lives? And how does money fit into this equation? Let's look at the three main conclusions that the WHR drew from its data and think about how we can apply those lessons to comprehensive financial planning.

Figuring out "the perfect time" to retire is only partially a financial decision. After all, if the second half of your life was just about money, then no one would ever stop working and earning. But when your retirement timeline intersects with major economic uncertainty, it's understandable that the money side of the equation might start to feel a little more important. News headlines blaring words like DOWNTURN, INFLATION, and RECESSION can overwhelm plans you've been making for years, and the goals you've been dreaming about for decades. It's at these uneasy moments that the true value of a comprehensive financial plan shines through. Right now, most folks who are willing to stick with their plan and work closely with a trusted advisor should be able navigate some turbulence and stay on course for a secure retirement.

If you receive most of your financial advice from cable news and social media, you might feel like we're perpetually on the brink of a recession. The prospect of a major downturn can feel especially unsettling for those whose short-term financial goals include retirement. Even aspiring retirees who do understand the inevitable ups and downs of investing might worry that now isn't "the right time" to retire. One of the benefits of the Keen Wealth Advantage is that we don't just react to external economic events, we proactively plan for a wide variety of contingencies -- including recessions. And while retiring during a downturn might sound like bad timing, with proper planning it's possible to retire on your terms, and on your timeline, no matter what's happening on Wall Street. In some cases, following your retirement plan right through market volatility can even be advantageous.

"Jim" (66) and "Karen" (64) both retired in the last six months. Jim has an IRA with $900,000, and Karen has a Roth IRA with $300,000. They inherited a brokerage account with $600,000 and a cost basis of $500,000. They have $100,000 in an emergency cash fund. Jim is receiving his Social Security benefits of $2,600 per month. He also has a pension of $1,800 per month. Karen is planning to start receiving her Social Security benefits at 67, for $1,900 per month. Their total net worth is $2.7 million. And now, just months into their retirement, Jim and Karen are wondering if they retired too soon. Do they need to jump back into the workforce to protect their financial plan against current market volatility? On today's show, we analyze "Jim and Karen's" situation in the context of our broader economic moment and comprehensive planning principles. I hope this case study will help anyone who's close to retirement gain some perspective about whether market movements should affect your short-term or long-term financial goals.

As we discussed on a recent podcast, converting money from a traditional IRA into a Roth IRA could be a beneficial move this year due to ongoing market volatility. But that's not an automatic decision. Everyone's retirement plan and goals are different. Everyone's situation in life is different. And while a well-timed Roth conversion can help folks save money now and build wealth in the future, you shouldn't be thinking about a conversion as a lifesaver that's going to support you through some turbulence all by itself. In fact, here are several scenarios where a Roth conversion could hurt your retirement plan more than it helps.

At the 2025 Barron’s Advisor Independent Summit last month, my Keen on Retirement cohosts and I attended an inspiring keynote address from Chip Conley, author and former Head of Global Hospitality for Airbnb. Chip's talk was called "Why Your Best Years Are Ahead of You," a topic that certainly aligns with how Keen Wealth approaches its financial planning mission, especially as folks prepare for retirement. Today I want to share eight specific aspects of healthy aging Chip discussed that are also important parts of Keen Wealth’s comprehensive financial planning process.

According to a recent Wall Street Journal article, there were 580,887 pending Social Security claims in March 2025. That's an increase of more than 80,000 from a year ago. Many of those claimants are seniors who have not yet reached their full retirement age. I'd love to believe that the majority of these folks are taking Social Security early as part of a carefully considered plan to achieve a specific goal, such as early retirement. But, unfortunately, fear and short-sightedness often play far too big a role in the Social Security decision, especially for seniors who aren't working with an advisor. On today's show, we clear up some of the misconceptions around Social Security and explain how Keen Wealth incorporates this important benefit into our comprehensive planning process.

With about a month until Tax Day on Tuesday, April 15th, you should, ideally, have all your financial documents collected. It might be a good idea to check in one last time with your financial advisor before you send your 2024 data to your CPA or start plugging away on your favorite tax software. But as you put a bow on last year, it's important to keep an eye on the future, especially for retirees. Cracking open your nest egg and sequencing how and when you use your assets and benefits is a complex process. Decisions you make today can affect your lifetime tax liability, the lifestyle you can enjoy during your Golden Years, and your legacy planning. On today's show, we use this combination of short-term and long-term perspective to tackle some listener tax questions and explain how the Keen Wealth Advantage can help you feel more confident about how taxes fit into your comprehensive planning.

Tariffs are nothing new. They've been implemented at several points in U.S. history, including as recently as 2018. But there are a confluence of factors surrounding President Trump's current round of tariffs that make it worth discussing. On today's show, we round up questions we've been receiving at Keen Wealth about tariffs to provide a comprehensive rundown of why Wall Street is interested and what you should discuss with your financial advisor.

Folks reach out to Keen Wealth for all sorts of reasons, at all different points in their lives. We talk to young couples just starting out who want to put themselves on a path towards financial security. New retirees want to feel secure about transitioning away from work. Older seniors come to us looking to secure their legacies and make life a little easier for the next generation. And, sometimes, a person realizes they've been receiving bad financial advice, and they're hoping my team can help them clean up the mess. On today's show, we discuss some warning signs that the person managing your money might not be putting your best interests first, as well as how Keen Wealth's comprehensive process can restore your confidence in your financial planning.

In this new retirement era, where government rule changes and longevity trends are nudging many seniors to work well into their 70s, a "traditional" retirement at 65 might seem way ahead of schedule. But if you’re planning to retire at 65 or later, will you still be healthy enough to enjoy it? According to recent data from the World Health Organization, healthy 60-year-old Americans can expect an average of 15 more years of good health. Is that really what you've been working, saving, investing, and waiting for? A decade, maybe two, of being well enough to play more tennis, travel all over the world with your spouse, and give back to your community? Or should you be talking to your advisor about how to accelerate your retirement timeline so you can maximize your Golden Years while still ensuring your long-term financial security?

Reviewing your estate plan is an important part of the year-end review sessions that we hold at Keen Wealth. At least annually, folks should make sure that their plan is still in sync with how they want to be cared for, how they want their assets distributed, and who they trust to settle their estate and preserve their legacy. But an estate plan check-up is also a good opportunity to review your feelings around what your money means to you, both while you're still around to enjoy it and after the next generation takes over. On today's show, we discuss lessons from two different approaches to estate planning that all seniors should think about as they prepare their financial plans for a new year.

The perfect Thanksgiving meal requires planning, balance, patience, and a generous guest list. At Keen Wealth, our comprehensive financial planning process uses a similar blueprint to help folks cultivate wealth for retirement. And while the prep can feel like it's taking forever, when you're sitting down at that beautiful, bountiful table, surrounded by your loved ones, the wait is almost always worth it. As you begin setting goals for the year ahead, use this five-step process to infuse your financial planning with a spirit of Thanksgiving.

"Sam" is 58 and he retired at the end of the first quarter of 2024. His wife, "Alice," is 65 and still working as a paid caretaker for the couple's son with special needs. Sam has $400,000 in a Roth IRA, $2 million in a traditional IRA and they have $400,000 in a joint taxable account. In 2024, Sam earned $75,000 and Alice earned $20,000. And, like so many couples in their age range, Sam and Alice want to know if their nest egg is ready to support them as they prepare for retirement. On today's show, we use Keen Wealth's comprehensive planning process to help "Sam and Alice" analyze their financial situation and identify some key decisions they'll need to make to keep their money and their lives in sync.

At Keen Wealth, we often describe tax-planning as an ongoing process, not just something we help folks accomplish every spring. And while Tax Day is certainly circled in red on our annual planning calendars, the end of the year is also an important deadline for some moves that could lower your tax bill. On today's show, we discuss three financial strategies that you and your advisor should consider before December 31st. Please note that we recorded this episode before Election Day. We'll give you our thoughts on how the new U.S. political environment could affect your financial planning in the weeks ahead.

If I were to make a list of the most common money worries that I've helped seniors deal with in my 30-plus years as a financial advisor, running out of money in retirement would probably be number one. Even folks who have been following a comprehensive financial plan and building wealth for decades can struggle with the idea of cashing their final paychecks and living off their nest eggs. So, I understand why a headline like "New study finds many seniors who retire at 65 will run out of money" can make some folks question their retirement plans. On today's show, we unpack the details of that study and discuss a practical approach to preparing for and enjoying your golden years.

The idea that retirees can live off Social Security alone is a bit of a holdover from the old "automatic retirement at 65" days. For the most part, your parents and grandparents weren't thinking about 30 or 40-year retirements, active living into their 70s or 80s, or cycling in and out of the workforce to pursue new challenges and passions. Most -- but not all -- of today's retirees would have a hard time relying solely on their Social Security benefits to cover monthly expenses, especially in the later stages of retirement when health care costs tend to spike. However, just because Social Security has a different place in the retirement equation than it once did, that doesn't mean your benefits aren't still incredibly valuable! If you work hard and plan ahead with your financial advisor, you can utilize these five strategies to boost your benefits, pad your nest egg, and hopefully feel a little more secure about your retirement spending plan.

What might be even better than having a Happy New Year? Having a purposeful 2025. Longevity experts who study "blue zones" where folks live the longest have popularized the Japanese concept of "ikigai," meaning roughly, "having a purpose in life." Their research shows that seniors who are motivated to get out of bed in the morning don't just live longer, they also feel more fulfilled and have healthier habits that nourish their minds, bodies, and souls. On today's show, we discuss various ways that focusing on purpose could help you set better goals and achieve more in the year ahead.

Happy 2025! At Keen Wealth, we're often of two minds at the beginning of the New Year. On the one hand, Tax Day is just around the corner, so we're helping folks put a bow on last year's financials and making sure they not missing out on any potentially advantageous moves. But this New Year also means a new president, a new congress, new laws, new facts and figures, and lots of new legislative proposals. On today's show, we discuss some important changes coming to Social Security and retirement accounts in 2025, as well as the items that could be at the top of President-elect Trump's economic agenda.

"Tax season" is year-round at Keen Wealth. As we meet with folks throughout the year and help them respond to life's ups and downs, we're constantly reevaluating their portfolios, budgets, and goals to look for more efficient and advantageous tax planning strategies. However, there are certain tax moves that you have to lock in by December 31st in order to apply them to your tax filings the following April. As we head into the fourth quarter of 2024, be sure to talk to your financial advisor and your tax professional about these 10 topics.

A New Year brings excitement, hope, and a little extra motivation to achieve some major goals. But 2025 has also brought some uncertainty as well. Political, economic, environmental, and technological events have all made big headlines, sometimes all on the same day. If you're feeling a little unsure about your financial planning right now, you're not alone. So, on today's show, we answer three timely listener questions that hopefully will give folks some perspective on where the economy is right now, where we could be headed, and how to set the best course for the rest of the year.

If there's one thing we know that the financial markets like, it's certainty. And since the 2024 presidential election was settled overnight -- rather than the weeks it took to count votes in 2020 -- the markets have reacted to the certainty of our new political reality with very strong returns. But as Donald Trump prepares to return to the White House, there are still many lingering questions about how the economic vision he laid out on the campaign trail will or won't materialize. On today's show, we explore some of President-elect Trump’s policy proposals and how they could affect your retirement planning.

With the presidential election less than a week away, I know many folks are feeling like the present is on pause while we’re waiting on some important answers about the future. Matt Wilson, Keen Wealth’s Chief Investment Officer and President, analyzed the latest data surrounding the election, the health of the economy, and the early outlook for 2025 in his recent 2024 Q4 Market Update Webinar. Today we’re going to discuss some follow-up questions from webinar attendees that should provide a little more clarity about the relationship between your short-term and long-term financial planning.

While many of the major changes that come with retirement are personal, married couples have to navigate this life transition together. Even if it's only one spouse dealing with the end of a career, both people are going to experience a significant adjustment period that can put severe strains on finances, health, emotional well-being, and the marriage itself. That's why, at Keen Wealth, we ask married couples to be equal participants in the comprehensive planning process. And as retirement draws near, we encourage spouses to discuss five important topics that they could be overlooking, or worse, avoiding. These aren't always easy conversations to have. But if you put off talking about what retirement is going to be like, you might find yourself facing some unspoken challenges that you could have been preparing to diffuse months, if not years, ahead of time.

The joy that we all feel checking off our holiday shopping lists, wrapping gifts, and exchanging presents with loved ones is often accompanied by another feeling: anxiety. Not just from the stress of getting everything done before the parties start, but from worries around money that can pile up this time of year. Some folks just can't look at a pile of presents without seeing price tags -- especially if money is a little tight this year or they're still adjusting to living off a fixed income in retirement. Worse, that anxiety might make you feel like you're doing the holidays "wrong," letting things that don't really matter keep you from enjoying the things that do. But, as we discussed on a recent podcast, finding the right balance between generosity, personal fulfillment, and long-term financial security is an ongoing part of just about every financial plan. Holiday gift-giving just makes us experience that tug-of-war in a more heightened, time-bound way. And if you can use these three strategies to control your holiday giving this year, you can establish a strong foundation for sustained giving going forward.

Like any other part of a comprehensive financial plan, there's no one-size-fits-all blueprint for an estate plan. Every person is different. Every family is different. And, as illustrated in a recent Wall Street Journal article, if you don't work with professionals to preserve your legacy, your way, you could be putting your estate, your loved ones, and your well-being at risk. On today's show, we discuss a listener question about how to tailor an estate plan to specific family dynamics, the essential parts of an estate plan, and some of the legal options folks should discuss with their attorney and financial advisor.

Warren Buffett's historic business success and preternatural understanding of the markets earned him the nickname "The Oracle of Omaha." But, as we discussed in a blog post earlier this year, Buffett's life and career can teach folks about more than just market movements and investing principles. That includes estate planning. Since losing his longtime business partner, Charlie Munger, Buffett has been a little more forthcoming about succession at Berkshire Hathaway and his future plans for his large stake in the company. Affluent investors should think about four key public details in Buffett's estate plan as they plan to preserve their own legacies and provide for the next generation.

Social Security can be one of the most flexible tools in your retirement toolkit. Some seniors will depend on it. Some will use it to achieve or even upgrade bucket list goals. Some might treat it as an additional investable asset. And others might make their survivor's benefits a central part of their estate planning. But I think all seniors will agree that no one wants their Social Security benefits to trigger unwelcome surprises at tax time. As you're weighing when to take Social Security and how to use your benefits, discuss these four topics with your financial advisor. You may have several options to lower your tax liability and maximize the value of your benefits to your comprehensive financial plan.

How are you feeling about the upcoming elections? Until about a week ago, I think that many folks might have had November on the periphery of their radar, especially if they don't live in a contested swing state. But the tragic events in Pennsylvania and the Republican National Convention in Milwaukee have probably changed that perception for all Americans. And as interest -- and emotions -- start running higher, it can become very difficult to separate your politics from your financial planning. On today's show, we discuss how elections typically impact the financial markets and what kinds of mistakes investors should try to avoid as we head deeper into election season.

"Robin" is a single mother of two high schoolers. She's 45 and she earns about $350,000 per year. Robin had never worked with a financial advisor before, and one of our clients referred her to Keen Wealth because she was looking for help with streamlining her finances and, hopefully, retiring in nine years. On today's show, we run Robin's case through Keen Wealth's checklist-driven, comprehensive planning process and explain how my team arrived at actionable strategies for achieving that early retirement goal.

Formulating a one-time, bulletproof financial plan would be incredibly simple if you could supply an advisor with just two pieces of information: exactly how much money you're going to spend every single year in retirement, and your date of death. Absent those two impossible data points, an effective, comprehensive financial plan has to be an ongoing, personalized, and adjustable process, no matter what size your nest egg is. On today's show, we talk through another case study to illustrate how my team at Keen Wealth helps folks plan for a retirement that's much more than just their numbers.

Most retirees know that, once they turn 73 (if born after 1950), they are required by law to take required minimum distributions (RMDs) from their retirement accounts. But in financial planning, nothing is ever quite that simple. In the past several years, the rules around RMDs have changed in very significant ways. Those changes, other rules around how and when RMDs occur, and changes to the very nature of retirement create complex planning scenarios that affect all retirees in very different ways. To maximize your nest egg, make sure you discuss these lesser-known facts about RMDs with your financial advisor:

When you think about retirement, are you picturing Paris, golden beaches, grandkids, tee times, volunteer work, and long walks with your spouse? Great! Everyone approaching retirement age should have a vision that's inspiring, rewarding, and exciting to plan for. But a truly comprehensive financial plan isn't just about achieving goals. It's also about meeting challenges, both the ones we can predict and the ones that life throws at all of us. At Keen Wealth, we believe it's essential to get out in front of retirement's uncomfortable truths as early as possible. Just about every retiree will need to prepare for these five realities.

Early retirement is a goal that's become a very common plot point in the comprehensive financial plans we put together at Keen Wealth. Young Boomers and older Gen Xers who have the means to stop working or downshift into part-time employment want to enjoy the wealth they've worked so hard for while they're still young enough and able-bodied enough to play their favorite sports, see the world, and spend more quality time with family and friends. But there's much more to early retirement than just hitting a number. Several aspects of your financial plan should be fine-tuned and coordinated to ensure that your nest egg supports today's goals while also ensuring your long-term security in the latter years of retirement. Let's take a look at Keen Wealth's five-point checklist for retiring at 55.

Most of us try to help our loved ones whenever we can and however we can. But when that "help" is money, our best intentions can turn bad very quickly. As uncomfortable as it may feel, if you don't integrate giving and lending into your overall financial plan, you're not just potentially enabling poor financial habits -- you could be jeopardizing your retirement. On today's show, we discuss five keys to lending money to loved ones that will help you preserve both your nest egg and your dearest relationships.

You should delay taking Social Security until you reach age 70. Unless, of course, you shouldn't. Or can't. Yes, my team at Keen Wealth generally advises folks to delay their benefits as long as possible so that those checks will, eventually, be bigger. But, like just about every detail of your comprehensive financial plan, timing your Social Security benefits is a complicated decision that depends on your unique situation and your specific goals for retirement. On today's show, we discuss some questions we typically ask folks who are considering taking their Social Security benefits as soon as they are eligible at age 62.

At Keen Wealth, "tax season" is never really over. Our checklist-driven, comprehensive planning process is constantly taking in new information about the folks we work with and changes to tax law. By staying ahead of tax issues, we believe we can help limit surprises when April does roll around, especially for retired seniors who are living on a fixed income. I'm glad to see that there are folks in our audience who are staying on top of their taxes throughout the year as well. On today's show, we answer listener tax questions about gold, correcting mistakes on your tax return, and a form you might have received in the mail a couple of months ago.

When discussing the unique financial challenges that many senior women face, it's important to make clear distinctions between useless stereotypes and scientific facts. As I've written about and discussed frequently on my podcast, there's just no truth to outdated cliches about women needing more help than men when it comes to managing money. And while it may have been more common in decades past for married couples to leave the family's finances to the breadwinning man, that old-fashioned dynamic is rare today. But, according to longevity expert Maddy Dychtwald, it's a fact that women, on average, live six years longer than men. Whatever your marital status is, and however big your nest egg is, women have to be very intentional about how they plan to cover their needs during those extra years. My Keen on Retirement co-host, Steve Sanduski, recently talked to Dychtwald about her new book, Ageless Aging: A Woman’s Guide to Increasing Healthspan, Brainspan, and Lifespan. Their conversation was full of insightful and actionable advice for women who are aiming to live well long into retirement.

The pain of losing a loved one can be even harder to work through when you're tasked with settling their estate. As you're sorting through complex legal and family issues, you also have to worry about fulfilling your loved one's last wishes and ensuring that their legacy will live on. I hope this overview of settling an estate can help folks who are grieving work through the essentials as quickly and efficiently as possible. I also hope anyone in our audience who doesn't have an estate plan in place will understand how important it is to get your affairs in order and how a financial advisor can help at every stage of the process.

Are Joe Namath and William Shatner giving you the best possible advice about Medicare? During the Medicare Open Enrollment period last fall, you probably saw TV ads for companies selling Medicare Advantage Plans featuring these and other senior celebrities. That's because, under most circumstances, the Open Enrollment period is the one time per year that seniors can change their Medicare coverage. And, in recent years, Medicare Advantage Plans have become a popular way for seniors to cover more of their health care needs. However, rising costs are causing many insurance companies to change, and in some cases, stop offering Advantage Plans. On today's show, we discuss how potential changes could affect the healthcare piece of your comprehensive financial plan.

I couldn't be prouder to have my name above the door at Keen Wealth Advisors. If you've read my book, you know that I have a very personal connection to financial planning, and it's been my lifelong mission to help folks avoid the kinds of hardships that my father and I went through. Every day, Keen Wealth carries out that mission in so many different ways: educational events, informative blog posts and podcasts, and a comprehensive planning process that has secured retirement for hundreds of hardworking families over the years. But Keen Wealth is so much bigger than Bill Keen! The folks we have the privilege of serving can count on the support of a whole team of professionals who are passionate about every aspect of every financial plan we manage. On today's show, I talk with my co-host, Matt Wilson, the President and Chief Investment Officer at Keen Wealth, about the value of having a financial team with a disciplined process that understands your unique goals and works together to help you achieve them.

Earlier this month, millions of investors and financial professionals around the world turned their attention to Nebraska, where Warren Buffett spoke at Berkshire Hathaway's annual shareholder's meeting. Buffett's tone was a little more somber than usual, as this was the first shareholder's meeting since Charlie Munger's passing at age 99. But, as is usually the case, the news from Berkshire Hathaway was positive: strong earnings for shareholders and $189 billion in cash for the Oracle of Omaha to manage. Succession planning was also an important topic in the 93-year-old Buffett's comments. Over the years, as he's accumulated not just wealth but experience, Buffett has delivered many pithy observations that reflect how his wisdom reaches far beyond the markets. I would encourage seniors to reflect on how these seven quotes apply to not just your financial planning, but how you're planning to live in retirement.

While inflation has generally improved in the past year or so, folks are still paying more for goods and services than they're used to. From a financial planning perspective, this short-term experience of above-average inflation has some valuable long-term lessons for seniors: throughout the course of your retirement, you should plan to cover rising prices every year as you're living off a relatively fixed income. The Federal Reserve tries to maintain an inflation rate increase of 2% per year, which it believes translates to a more stable economy. And even in years when inflation rates are below that target, modest upticks in costs will continue to compound and grow year over year. Let's take a look at how inflation typically affects three top-line retirement spending categories and how comprehensive financial planning can give seniors the resources they need to adjust to rising costs.

Are you planning to spend more money or less money once you retire? Many retirees would answer, "About the same," and that makes sense. Folks figure that what they end up saving in professional expenses (commuting, meals, work clothes) and childcare, they'll shift over to things like taking vacations, joining their local country club, and some quality-of-life upgrades around the house. Sure, inflation will drive up the cost of some goods and services by a percent or two every year. But most seniors aren't looking for a lifestyle upgrade in retirement, and they want to avoid any serious downgrades. Maintaining the status quo, with a few well-earned splurges here and there, sounds like a dream. Financial professionals and economists used to assume consistent spending was, more or less, a likely retirement scenario as well. But decades of research and analysis have uncovered a "retirement consumption puzzle." Most new retirees actually spend less money than they did while they were working. Retiree spending rates then continue to decline throughout retirement, even as inflation keeps pushing consumer prices upwards. Let's break down the retirement consumption puzzle piece by piece and explore how Keen Wealth's comprehensive planning process can help folks assemble a reliable retirement spending plan.

A great many of the successful clients we're privileged to work with at Keen Wealth weren't born wealthy. They've grown their nest eggs, dollar by dollar, over years of hard work and diligent financial planning. As they're nearing retirement, these folks aren't just thinking about what life without work is going to be like -- they want to preserve their wealth to support them throughout their golden years and to build a lasting, inspiring legacy. Affluent seniors can use these five principles to start making their plans to enjoy, maintain, and even maybe grow their assets in retirement.

My team at Keen on Retirement has been hard at work analyzing the question that's top-of-mind for many of our listeners. And after crunching the numbers ... Yes, it looks like Taylor Swift will be able to attend the Super Bowl! She's scheduled to perform in Tokyo the night before our Chiefs take on the 49ers, but thanks to a 17-hour time difference -- and, presumably, a private jet -- we do expect to see Taylor in Las Vegas. All kidding aside, I'm especially excited for this round of listener questions. A couple of folks who have been with Keen Wealth for many

As a retiree, you might be done cashing a regular paycheck. But, as far as the IRS is concerned, you probably aren't done earning income or, in most cases, paying taxes. In fact, without precise planning around how and when you start tapping into your nest egg, you could open yourself up to higher tax liabilities in retirement than you had when you were working full time. Here's a very basic example of a retirement withdrawal strategy checklist that we use at Keen Wealth to help retirees minimize their taxes and maximize their resources for living a full and rewarding retirement.

Interest rates, inflation forecasts, and long-term market trends were just a few of the topics Matt Wilson, CFP® covered in our recent 2024 Q2 Market Update Webinar, "Gain Insights on the Economy & Markets." The follow-up questions we tackle on today’s show are largely geared toward folks who are approaching the retirement transition with some understandable anxiety. I hope that as we provide a little more detail on these important topics and the overall state of the economy, folks will feel more confident in their financial plans and more excited about retirement.

Organizing expert Marie Kondo encourages folks to look at their stuff and ask, "Does this spark joy?" The Swedes have a slightly less sunny spin on decluttering: döstädning, or, "death cleaning." As popularized in both a bestselling book and a Peacock reality show, death cleaning is a way for older adults to streamline their possessions so that their heirs won't have to when they're gone. “A loved one wishes to inherit nice things from you,” writes author Margareta Magnusson. “Not all things from you.” But “death cleaning” and the KonMari Method aren't just about clearing out your closets and saving your kids some hassle. Organizing your possessions and your home can have a liberating effect on how you live in retirement and how you plan for your legacy.

Most soon-to-be retirees have a broad understanding of the differences between living off their assets and living off a monthly paycheck. But making that switch and adjusting to new spending habits can be more complicated than you might think, especially if you aren't prepared for the rules around withdrawing from your retirement accounts and how your relationship to your money might change. In his most recent webinar, Matt Wilson, CFP® Chief Investment Officer and President at Keen Wealth explained the importance of making a plan for your retirement spending before you actually retire. Today's episode touches on some of the topics that Matt's webinar covered in depth, as well as important follow-up questions we received about budgeting, required minimum distributions, and managing the psychological and emotional challenges of retirement.

There's an old joke among financial advisors that part of our job is to help new retirees get comfortable taking more "SKI" Trips -- meaning, "Spend the Kids' Inheritance!" Many seniors who have worked hard and committed to a comprehensive financial plan retire with more money than they've ever had in their lives. We want those folks to feel safe and secure about their finances as they head into their Golden Years. But we also want them to have fun, pursue their passions, and explore opportunities for growth. To accomplish both goals -- security and enjoyment -- retirees should be aware that it can be difficult to shift from a savings mentality to an “it’s ok to spend even though I’m not receiving earned income anymore” mindset. My team at Keen Wealth focuses our spending conversations with retirees on these four important points.

We spend a lot of time on Keen on Retirement discussing how retirement is changing, from new laws and rules to generational shifts in how seniors work and live. But one constant in the retirement planning process is the importance of the age of 65. Many folks still feel like turning 65 means you've hit "retirement age," even though the government's definition is a bit different. And even if you continue to work well into your 70s, at age 65 there are some important decisions that should be coordinated as your vision for your Golden Years comes into focus. On today's show, we discuss why the age of 65 will be an especially important transition point for the next couple of years. We also answer listener questions about charitable contributions and required minimum distributions that might factor into your tax prep this spring.

The comprehensive financial plans we design at Keen Wealth factor in every piece of available information to help folks plan for what we know is coming and prepare for the unexpected. While recent events at home and abroad are raising some new questions, we did learn some important answers last week that will help folks get ready for 2024. On today's show, we discuss listener questions about Social Security, Medicare, Ukraine and Israel, and year-end financial planning.

If you think about your comprehensive financial plan as a long flight from here to retirement, then risk and uncertainty are like the turbulence, bad weather, delays, and cancellations that all travelers have to deal with. Sometimes, these disruptions flash on our radar well in advance. Sometimes, they pop up at a moment's notice. But understanding how your retirement flight plan is built to avoid, absorb, cope with, and even steer clear of certain challenges can reduce stress and help you enjoy the journey a bit more. Let's talk about how my team at Keen Wealth approaches risk and uncertainty in our planning process and some strategies that can help folks stay on course for their dream retirement.

When we fall behind on our holiday shopping lists, there are usually some last-minute deals and expedited shipping options that can help us catch up. But if you fall too far behind on your annual financial planning checklist, you might miss out on some important rule changes or time-sensitive strategies that could impact your retirement next year. Based on the questions we've been fielding lately from Keen on Retirement listeners and readers, I'm glad that so many folks are making time during the holiday hustle and bustle to think about some important issues and get a jump on their 2024 financial planning. On today's show, we discuss popular questions about next year's tax brackets, a controversial video about retirement withdrawals that's been making the rounds on social media, and how seniors should be planning for long-term care.

Is 2024 going to be "The Year?" Are you aiming for retirement and starting to get serious about comprehensive planning? Or perhaps you're already retired and wondering if your financial plan needs to prepare for what could be a tumultuous year both politically and economically. In either case, Keen Wealth's philosophy is consistent: plan for what you can anticipate so that you can adjust to the unexpected. Your 2024 retirement planning checklist should start with these seven items.

How do you adjust your financial plan to cope with inflation, higher interest rates, and an up-and-down economy? Our most popular blogs and podcasts of 2023 all touched on that question in some way, especially from the perspective of retirees living on a fixed income. Our discussions also eventually arrived at a similar conclusion: you need to have a plan! Comprehensive financial planning puts tools at your disposal that can keep you on track for a successful retirement, no matter what’s happening in the outside world. And working with an experienced advisor, like my team at Keen Wealth, could potentially eliminate so much of the worry and uncertainty from figuring out what moves are going to keep your short-term needs and your long-term goals in sync.

According to a recent Charles Schwab survey, U.S. workers believe they'll need around $2 million to retire. Using the old 4% Rule for some back-of-the-napkin math, those retirees are expecting to withdraw about $80,000 their first year in retirement, with future withdrawals going up or down from there based on how much annual savings and investment returns replenish their assets. We also know in most cases there will be other income sources like social security or pension income. So, is $80,000 per year from your investment portfolio, give or take, enough to live on in retirement? That's a much more complicated question to answer than some folks realize. So many factors that affect retirement planning are in a state of constant flux – most of all, your life. A financial plan that's built around static numbers might not be able to adjust how and when you need it to. Let's talk about some of the variables that factor into Keen Wealth's comprehensive planning process and try to arrive at a more thorough analysis of a $2 million nest egg goal.

This year's annual Medicare Open Enrollment period runs from October 15th to December 7th. Whether you're already on Medicare or about to claim your benefits for the first time, seniors need to make sure they get the care they need at a price that fits with the rest of their comprehensive financial plan. On today's show, we answer listener questions about Medicare Open Enrollment to help you get ready for this important part of your annual planning process.

Many seniors have a "retirement number" stuck in their heads. It could be a net-worth goal that you want to hit so you can live an affluent, carefree retirement. Or it could be an amount you want to see compounding in your savings account. Maybe you've run some “4% Rule” calculations or plugged your financial info into a free "Monte Carlo Simulation Tool" to figure out your probability of running out of money. Unfortunately, focusing exclusively on these kinds of numbers could be more harmful than helpful when it comes time to plan for withdrawals in retirement. I think discussing four different approaches to financial planning may help folks see the bigger retirement picture and feel more confident about how they will spend their money.

One of the reasons my team at Keen Wealth puts so much care into personalizing our comprehensive planning process is that there's no one path to a successful retirement. Yes, we often incorporate some tried-and-true strategies and tools, like diversification, downside volatility protection, and Monte Carlo simulations. But as we discuss on today's show, even professional financial advisors have to sort through a wide array of options to help folks find their optimal plan. When you're managing your finances on your own, those options can be overwhelming and, in some cases, a little dangerous for your money. After discussing four listener questions, I'd also like to share some exciting personal news and thank my alma mater, the University of Central Missouri.

Being grateful can be hard work. The media bombards us with so much bad news, and our lives are so full of everyday stresses that it's easy to lose sight of all the good things we have going for us. And when we're really low, gratitude might even feel a little out of reach. However, as we discuss on today's show, intentionally incorporating gratefulness into your daily routine can create a positive mindset that improves all aspects of your life, from your health and your relationships to your financial planning.

In many ways, the holiday season is a mirror of what life in retirement can be like. Folks are off work, if only for a few extra days. Schedules tend to revolve around the people we love and the things we enjoy doing, especially cherished family traditions. And even though there can be some stress around prepping meals and crossing items off your shopping list, there are also pockets of quiet where we can enjoy good company and a warm beverage while we reflect on what matters the most. As you celebrate the holidays and prepare for the New Year, consider ways that you can incorporate some of the season's fellowship and good cheer into your 2024 retirement plan.

At the end of 2023, the Keen on Retirement podcast crossed a significant milestone: 200 episodes. To put that number in context, less than half of the 460,080 active shows on Apple Podcasts reach episode 4. It's a real testament to the quality of our discussions, Keen Wealth Advisors' commitment to financial education, the dedication of my cohosts, and the support of our subscribers that Keen on Retirement is still going strong as we begin our 9th year. On today's show, my cohosts and I look back on our favorite episodes of Keen on Retirement and reflect on some of the common themes that connect our wide-ranging conversations about the economy, investing, comprehensive financial planning, retirement, and living well.

My team at Keen Wealth has seen retirement play out just about any way you can imagine. We've celebrated with folks as they've clocked out for the last time. We've seen photos of dream vacations, new homes, and new grandbabies. And we've used our comprehensive planning process to help folks adjust to some major challenges, recalibrate the best path forward, and keep progressing toward long-term goals. Unfortunately, we've also seen folks fall short of their retirement goals, often because they tried to "go it alone" at the start of their retirement transitions. If 2024 is going to be the year that you finally retire, talk to your loved ones and your advisor about how you can steer clear of these seven preventable retirement errors and set up your Golden Years for success.

Happy 2024 from the team at Keen Wealth Advisors! The Dow sent us into the New Year on a high note -- literally -- by hitting a new all-time high in December on the back of some very positive economic news. Employment and job creation are still strong. It looks like we're going to avoid the recession that some analysts have been predicting for the better part of two years. And the Federal Reserve is hinting that it might be done with interest rate hikes as well. That's a pretty good jumping-off point for a year that, I can confidently predict, sure won't be boring. Elections, Olympics, big changes to how and where we work, advances in AI and other tech, ongoing conflicts across the globe, Leap Day -- there's a lot to look forward to in 2024, but also a lot of very serious matters to keep tabs on, and a lot of potential distractions to filter out of your financial planning.

The connection between money and happiness has always been one of the most personal and complicated parts of the financial planning process. After all, "happiness" means something different to all of us. And those definitions can change as we progress through life, especially when we're navigating meaningful life transitions. On today's show, we dive into some new research on money and happiness. We also discuss some of the important things in life that money can and can't buy and how a comprehensive financial plan can support your vision of happiness at every stage of your life.

On today's show, we answer a request from a Keen on Retirement listener who's been reading Garrett B. Gunderson's popular book "Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity." You might have seen some of Gunderson's thoughts about alternative financial strategies passed around online, especially among folks who are skeptical about the markets and the government's role in economic policy. But while there's certainly no one way to create a financial plan, most investors who steer clear of "sacred cows" like investing in a diversified portfolio and funding their retirement accounts could be killing their chances of a secure retirement. Below are several of the points we discuss.

In a recent survey, non-retired adults told investment firm Schroders that they will need approximately $5,000 per month "to enjoy a comfortable retirement." But is that really enough? Maybe! Studies and surveys like these make for eye-catching headlines, but they skimp on the details. For example, where are these retirees planning on living? $5,000 per month is going to go a lot further in, say, Kansas City than it will on the coasts.

Without careful analysis and planning, taxes can become one of the biggest expenses for retirees -- if not the biggest. Matt Wilson, Chief Investment Officer and President of Keen Wealth Advisors, recently hosted a webinar discussing the tax issues you could face at four stages of retirement. Today's podcast episode hits on some of Matt's key points and answers important follow-up questions from webinar attendees. Together, this content provides a full picture of how Keen Wealth integrates both annual tax preparation and long-term tax planning into a comprehensive financial plan.

At its meeting on June 14th, the Federal Reserve did something that it hasn't done in 15 months: it decided not to raise interest rates. This slight pause in the Fed's battle against inflation gives us an opportunity to discuss the state of our economy and the markets at the midway point of 2023. On today's show, we take stock of the latest market data, put current inflation and interest rates in their proper context, and consider the United States' place in the global economy.

Retirement will close an important chapter in the story of your life. But it also opens a brand-new chapter where you might be able to write stories that you've been dreaming about for decades and others that you've never imagined. Let's talk about how the power of personal storytelling, combined with the support of a comprehensive financial plan, can shape retirement into your vision of happy ever after.

In Part 1 of this two-part series on luxury travel for retirees, we shared some tips on getting the most vacation for your money and took a brief tour of some U.S. hotspots. In Part 2, we are going to explore some international destinations that you might want to consider adding to your bucket list. With proper planning and budgeting, this could be the year you take your dream vacation or journey somewhere unexpected that opens your eyes to how wide and wonderful the world is.

Is your brain getting the workout it needs to keep you mentally sharp in retirement? Medical science has established a pretty clear link between physical and mental health. According to Harvard Medical School, a variety of mental stimulation, paired with regular exercise and a healthy diet, can create new neural connections in your brain, regenerate new brain cells, and even protect the brain against the loss of cells in the future. The Mayo Clinic says that same mix of healthy living and thinking can lower your risk of developing Alzheimer’s or dementia. And CogniFit Research recommends “brain fitness” as a means to maintain working memory, planning ability, focus, and the speed at which we process information. Consider mixing some of these brain-boosting activities into your retirement wellness routine.

How to Thrive in the New Age of Aging This summer, we've seen some very high-profile examples of just how much the norms on aging are changing. Once again, 61-year-old Tom Cruise scaled box office heights all over the world. 81-year-old Martha Stewart graced the cover of the Sports Illustrated Swimsuit Issue. Music legends Paul McCartney, Ringo Star, Dolly Parton, Peter Frampton, and Mick Fleetwood collaborated on a cover of "Let It Be" that hit the Billboard charts. The Rolling Stones released their first new song in 18 years. And at the end of August, arguably the most famous and influential investor in the world, Warren Buffet, turned 93. These are just a few of the "age influencers" who embody major trends in an important new study by Age Wave, "the nation’s foremost thought leader on issues relating to an aging population." Let's look at four key insights from The New Age of Aging that are changing how folks should think about and plan for their golden years.

On today's show, we discuss a topic that many of us will deal with from multiple angles: caring for elderly family members. Many baby boomers who are transitioning into retirement have also become caregivers for their parents or older relatives. At the same time, these retirees may be beginning to talk to their children or grandchildren about some estate planning basics and how they want to be cared for if they start to experience a decline later in life. These are some of the most challenging decisions to make and some of the hardest conversations to have. But making a plan while you and the people you're caring for are still healthy and opening up about your wishes with loved ones can make the tough times we all experience in life a little bit easier down the road.

Why are we talking taxes on today’s episode, when the 2022 tax season is already over? Because taxes are a constantly evolving part of a comprehensive financial plan. The rules around tax planning and retirement change. Your taxable income changes. And, most importantly, your life changes. Today, we discuss some of the tax items on our checklist-driven planning process at Keen Wealth that keep every part of a financial plan in sync throughout the year.

U.S. life expectancy is trending in the wrong direction for the first time in decades. According to data from the Center for Disease Control, in 2014 the average American was expected to live 78.9 years. In 2021, after several years of plateauing life expectancy, that figure dipped to 76.4 years, the sharpest 2-year decline in over 100 years. From a financial planning perspective, Keen Wealth still believes that folks need to prepare for a retirement that's going to last, potentially, decades. But this latest life expectancy data does raise some important issues about what we can do both individually and in our communities to turn these trends around so that we can all enjoy our golden years to the fullest.

Earlier this month, I attended The Barron’s Advisor Independent Summit in Dallas with Keen Wealth's Chief Investment Officer and President, Matt Wilson. It's a real privilege to be invited to this annual conference where we can talk to and learn from some of the top minds in finance. While the program had been scheduled well in advance, the recent bank collapses in California and New York became one of the dominant topics. Matt and I recorded today's show live at the Summit so that we could share some of the key insights we heard from colleagues and other financial pros about the state of our banking system and the broader economic outlook for the year ahead. We also scale these issues down so that you can have a better understanding of how the big picture could affect your personal financial plan.

All of us Chiefs fans have incredible memories of watching Super Bowl LVII that we're going to treasure forever. But not many of us had a seat as close to the action as my guest today, Teresa Hannon. "This game was such a nail biter," Teresa told me, "and where I sat was lower level, right by where the winning field goal was made. Just seeing it go through the goal post right by where I was sitting was incredible. And Arizona had perfect weather, it was 75 degrees every day there. The stadium was beautiful. And the experience of just being there was everything I imagined." But Teresa did more than just imagine this Super Bowl experience. She worked with her Keen Wealth advisor to make this trip part of her comprehensive financial plan. And as we discuss on today's episode, that plan helped give Teresa the means and the confidence to live her best life in retirement.

We received very positive feedback from folks who attended our most recent educational webinar, "Timing is Everything." And, we also received some excellent follow-up questions that we're going to address on today's episode. Our conversation ranges from transportation costs to health insurance and asset allocations. We also discuss what we mean by “timing” in retirement and how Keen Wealth’s comprehensive planning process prepares folks for the best half of life.

Where do you see yourself when you picture your dream retirement? Lounging on the beach? Playing golf with new neighbors in a gated community? Taking a quick walk from your condo to watch your grandkids play soccer? Moving abroad for an authentic international experience? Enjoying the hustle and bustle of big city living? Let’s examine some of the pros and cons of relocating in retirement, including potential effects on your financial planning.

Planning a vacation is often a balancing act between quality and quantity. But retirees who opt for slow travel may not have to make that choice. Rather than rushing from one attraction to the next, slow travel lets you really immerse yourself in your destination and get the most from two valuable retirement resources: your money and your time. Here are three reasons retirees should consider adding some extra days, or even weeks, to your next travel itinerary.

For previous generations of seniors, "retirement" meant the end of work, period. The modern version of retirement often isn't that cut and dry. A growing number of seniors who have achieved total financial independence are "unretiring" not because they need money, but because working in some capacity makes their golden years more purposeful and enjoyable. If any of these thoughts about unretiring ring a bell, it might be time to sit down with your advisor and talk about what returning to the workforce could mean for your financial plan.

I know I say this every time we answer listener questions, but these are some of my favorite episodes of Keen on Retirement. I love hearing from listeners trying to think through crucial financial planning issues and be proactive about their lives. And I'm thrilled that so many folks in our audience took the time to attend our most recent webinar on Retirement Spending, reflect on the info that Keen Wealth's Matt Wilson presented, and send in thoughtful follow-up questions on a wide range of essential topics.

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.

Matt Wilson's latest Market Update webinar touched on some important topics that you've probably seen in the headlines lately: interest rates, inflation, bank closures, the debt ceiling debate, and economic growth forecasts for the rest of the year. But if you're just getting your info on these things from social media or cable news, Matt's approach was likely a breath of fresh air. At Keen Wealth, we try to provide clear-eyed analysis without the hype so that folks can understand the practical effects that hot-button issues could have on their financial plans and their retirement. On today's show, we recap some of the bullet points from Matt's Q2 Market Update and answer a few follow-up questions from folks who attended the webinar.

On our last episode, we ran through the changes to Medicare and Social Security that will affect seniors' benefits next year. Today, we're going to complete our 2023 planning picture by discussing tax brackets and contribution limits for retirement accounts. We also examine whether or not gold and real estate should factor into your financial planning given the current levels of inflation.

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.

Ongoing market fluctuations have caused many of us to ask some of the same questions in 2022. Are we headed for a recession? Will inflation subside sooner than later? Should the Federal Reserve have moved earlier or has it done too much? I hope that listening to today's episode will help folks understand why there are no simple answers to any of these questions. And, perhaps more importantly, I hope our listeners will come away with a better appreciation for how a comprehensive financial plan can help you answer the most important questions of all: How does what's happening in the markets affect my nest egg and my retirement? And ultimately, will I be ok?

The numbers are finally out! And that means, if you haven't already started, it's time to get serious about working with your advisor to update your financial plan for 2023. On today's show, we discuss the changes coming to your Social Security and Medicare benefits next year, as well as an important clarification on the rules for inheriting IRAs that could impact how you and your family members think about legacy and tax planning.

No one is ever truly prepared for the loss of a spouse. And what is already an emotionally challenging life transition can be even more difficult if a couple doesn't have a comprehensive financial plan that's designed to support both people together and separately. In this three-part series, I'll discuss how to Prepare for, Cope with, and Move forward from the death of a spouse, and how Keen Wealth's planning process can help.

In 2022, we regularly addressed two connected topics that caused some worry for retirement-age seniors this year: the up-and-down economy, and how its fluctuations were affecting retirement planning. Not surprisingly, our Top 5 Podcasts and Blogs all touched on one or both of those topics.

When you hit your 60s, you're going to pass some milestones on your financial plan that might make you feel a little ... Well ... old. Once you're past age 59 1/2, you can start taking withdrawals from your retirement accounts without a penalty.

Because of the strong ties that Keen Wealth has established with metro Kansas City’s thriving engineering community, we’ve gained real appreciation for the power of employee stock ownership plans, or ESOPs. The Harvard Business Review study shows that companies that implement this unique structure dramatically improve their performance by empowering their workers to think and act like owners. ESOPs can also improve workforce retention, which is a boon for both young workers seeking career stability and companies that are battling for talent in a tight labor market.

Even for those of us who are looking forward to big celebrations with our loved ones, the holidays can be full of conflicting emotions. You might be feeling pressure to plan and host the "perfect" holiday party. Baking and shopping for everyone on your Nice List can be stressful. You might be worried about making it through just one family gathering without an argument. And if you are spending your holidays away from loved ones, loneliness could have you feeling less-than festive. One of these activities might help you beat those holiday blues, experience the joy of the season, and spread that goodwill to other people.

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.

In my book, blogs, and podcasts, you'll often hear me call retirement "the best half" of life. And I truly believe that with the support of a comprehensive financial plan, your golden years can be a long and enriching chapter full of adventure, connection, and self-discovery. But it's also true that the realities of aging can cut some of that fun short. The older we get, the more our knees and backs start aching, the longer bumps and bruises linger, and the quicker we run out of energy. The good news is that we all have more control over our physical health than we sometimes realize. These tips can help you improve your self-care routine and set goals that will help you age well in the New Year and into retirement.

On today's show, we discuss the differences between estate planning and the comprehensive legacy planning that's part of our checklist-driven process at Keen Wealth.

I hope our longer answers on these important topics are a reminder that while there are some universal principles upon which you can build a financial plan, the long-term success of that plan will depend on how you and your advisor work together to find the best solutions for your specific needs and goals.

No one is ever truly prepared for the loss of a spouse. And what is already an emotionally challenging life transition can be even more difficult if a couple doesn't have a comprehensive financial plan that's designed to support both people together and separately. In this three-part series, I'll discuss how to Prepare for, Cope with, and Move forward from the death of a spouse, and how Keen Wealth's planning process can help.

No one is ever truly prepared for the loss of a spouse. And what is already an emotionally challenging life transition can be even more difficult if a couple doesn't have a comprehensive financial plan that's designed to support both people together and separately. In this three-part series, I'll discuss how to Prepare for, Cope with, and Move forward from the death of a spouse, and how Keen Wealth's planning process can help.

As we discuss on today's episode, this year's report, released on June 2nd, is a bit more optimistic. But the ongoing social, political, and economic challenges that will affect your benefits in retirement mean it's critical that folks understand how these funds work, maintain realistic expectations, and work with an advisor to plan ahead.

We received very enthusiastic responses from folks who attended our recent webinar, Maximizing Social Security Benefits. As always, Matt Wilson, Keen Wealth's President and Chief Investment Officer, did an outstanding job of presenting up-to-the-minute information explaining some strategies for integrating Social Security into a comprehensive financial plan.

To help me explore these important intersections, I'm thrilled to welcome Dr. Megan McCoy to today's episode. Dr. McCoy is a licensed Marriage and Family Therapist and a Certified Financial Therapist-I. At Kansas State University, she's a Professor of Practice and Director of the Financial Planning Masters Program and key faculty in the Financial Therapy Certificate Program. Dr. McCoy is also an Executive Board member for the Financial Therapy Association and the Associate Editor of the Journal of Financial Therapy.

Here's a brief agenda that will help you cover the basics and prepare you and your loved ones for one of life's most challenging transitions.

Getting older isn't easy. Aches and pains can start to pile up and linger longer than they used to. Making necessary choices about estate planning can cause people to confront their own mortality. And transitioning into retirement can pose some significant financial as well as psychological challenges.

I often describe the financial planning we do at Keen Wealth as a checklist-driven process. Using checklists does not just ensure that my team always has the relevant issues covered. It gives financial planning a structure that helps folks understand how their money is working for them.

On today's episode, we discuss why some financial plans fail and how working with an advisor who cares about more than just your money can help.

Let's dig into some listener questions and examine where general planning principles meet the personalized, comprehensive planning process we use at Keen Wealth.

Whatever the plan may be, retirement before age 59 1/2 can pose some significant cash flow challenges for folks who need early access to their IRAs and 401(k)s. On today's show, we discuss how incorporating IRS code 72(t) into a financial plan can help.

No matter how well prepared you think you are, not matter how long you've been counting down the days, that first Monday morning after retirement is going to feel like a change.

On today's show, we (briefly) debate the pros and cons of leaving our clocks alone before digging into the details of SECURE Act 2.0 that could affect retirement if this new bill is passed.

Here are three things seniors should be thinking about as they plan for their second or third professional act.

On today's show, we discuss why 2022 should be the year you stop making resolutions and start making action plans to hit your top goals -- especially financial ones.

Talking about a personal investment plan against the backdrop of a major crisis may not seem appropriate. Obviously, the situation in Ukraine right now and the suffering of its people transcend the issues we usually discuss on our podcast.

Health care is one of the most important aspects of planning for an early retirement. Medicare eligibility doesn't kick in until you reach age 65. Pre-65 retirees who don't have access to employer-subsidized health insurance could be facing some substantial costs for a number of years until they are eligible for Medicare.

Effective financial planning is all about looking ahead. That's true for both people who are working towards retirement, and for my team at Keen Wealth. I believe that our ongoing commitment to educational events, learning, and professional development is essential to the work we do for our clients. And as the founder and CEO, I'm also committed to growing Keen Wealth into a firm folks can trust and count on today, tomorrow, and into the next generation.

None of us can control a war, inflationary concerns, natural disasters, or market volatility. If you're worrying about how global events are going to affect your financial plan, try to focus on things you can control. As we discuss on today's show, right now that means efficient tax preparation so that you avoid some common filing mistakes before Tax Day on April 18th.

Bob Buford's HALFTIME: Moving from Success to Significance offers a possible solution that's stuck with me ever since I first read the book about a decade ago. Buford was a successful cable TV exec who revaluated his priorities and made a very intentional plan for the second half of his life. I believe all seniors can adapt his three-part process to their retirement transitions and redefine who they are in a meaningful way.

On today's show, we discuss how to prevent your own estate from getting tangled in red tape and bad blood.

As we discuss on today’s show, history tells us that financial planning requires a delicate balance between making the most out of the present and laying the groundwork for success in the future.

Providing solid, fact-based content that’s educational and – hopefully! – entertaining is a core component of the Keen Wealth mission. 2021 certainly gave us all plenty to talk about, and as my team shifts its focus to the New Year, we’re already preparing to tackle a slate of topics that are important to folks at every stage of their financial planning.

As much as we look forward to this time of year, the holidays aren't all merry and bright for everyone. Health concerns, transportation difficulties, and complicated schedules might be preventing some folks from spending time with loved ones this year. Others who are looking forward to the first "normal" holiday dinner in a couple years could be feeling the stress of all that planning and preparation. And for many families, this might be the first holiday meal with an empty chair at the table due to the loss of a loved one.

One reason we advise our clients not to overreact to election results is that the plans candidates propose on the campaign trail often look very different once they've worked through the U.S. lawmaking process. President Biden's agenda has struggled with that very reality in recent weeks. As Congress continues to debate and negotiate the Build Back Better Plan, perhaps the central topic of discussion has been balancing ambitious spending with changes to tax codes that would be necessary to pay for that spending.

At Keen Wealth Advisors, once we’ve created a financial plan for a client, we next work to determine the proper ratio between stocks, bonds, and emergency reserves they need to make that plan work. Our strategy of portfolio diversification, quantitative stock analysis, periodic adjustments, and short-term cash buckets for income needs is designed to help generate wealth for a family over decades, not days.

Do budget deficits matter to the health of the U.S. government and economy? That's been a hot topic of conversation among economists, especially as debate raged about the most effective way for the government to support folks during the pandemic. And it's been a topic that's popped up on a few of our Keen on Retirement episodes and blogs as well.

Folks who follow a well-defined financial plan usually have some important dates circled on their calendars. At the beginning of the year, you probably plot out some annual goals. In the spring, you gather last year's info for tax season. In the summer, parents start budgeting for family vacations and the upcoming school year.

Making sure that you and your assets are protected at the end of your life is a standard part of our planning process at Keen Wealth. Over the past several years, we’ve welcomed many new clients who have been putting off estate planning decisions for far too long. Living through the pandemic gave these folks the sense of urgency they needed to sit down with my team and start thinking about the legacy they want to leave to their heirs.

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.

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.

Instead of looking for ways to stay "young at heart," this generation of retirees might just end up staying younger, longer. In his book The New Long Life, Professor Andrew Scott of the London Business School argues that the intersection of technology and longevity is going to fundamentally change how all of us approach life. Instead of a traditional three-stage journey from education to work to retirement, folks who stay healthier and more active as they age will have more power to shape and reshape themselves over multiple stages.

As good as it feels to be exiting the pandemic and enjoying a relatively normal summer, the ongoing economic fallout from COVID-19 and the levers our government pulled to accelerate recovery have a lot of folks worried about inflation. Those fears spiked recently after the Bureau of Labor Statistics reported that consumer prices rose by 5% during the month of May, the biggest jump since 2008. Those numbers are ringing alarm bells for some of our older clients who don't like being reminded of 1970s stagflation as they're nearing or beginning retirement.

The pandemic given us all a new perspective on our lives and our work. I think that’s a big reason why we’ve had a number of our clients at Keen Wealth ask us about early retirement scenarios this year. After a year of locking down, missing friends and family, working from home, and in far too many cases, losing loved ones, folks want more than just financial security. They want to use their assets to live their best lives for as long as they can.

Successful retirement doesn't just happen. Getting the most out of your golden years takes lots of hard work, years of careful planning, and preparation for the emotional, physical, and financial changes you're going to go through once you stop working.

In my nearly thirty years of helping folks manage the retirement transition, I've seen how prudent financial planning and attentive self-care can make your golden years one of the most fulfilling chapters of your life.

Recently, while answering some listener questions about early retirement, I pointed out that every piece of your financial plan is connected to every other piece. Adjust one lever, and you might trigger some unexpected consequences if you're not working with a professional who can help you anticipate and prepare for further changes.

Seniors may have noticed that the Social Security Administration (SSA) has redesigned the periodic statements it sends about your benefits. Perhaps one of the most helpful changes is that these statements now explain how much your monthly benefits will be depending on when you decide to take Social Security. In my experience, some seniors head into retirement with slightly unrealistic expectations about these benefits. These new statements will help folks get a better idea of where their benefits will fit in to their overall retirement plan.

According to a recent study by the Employee Benefit Research Institute’s Retirement Security Research Center, affluent retirees are, on average, more satisfied than retirees with modest assets and folks who are just managing to get by. Now that probably doesn't sound like a very eye-opening conclusion. But what the EBRI found was that it wasn't really money that made affluent retirees feel better about retirement. It was three factors that I believe should be a cornerstone of any retirement plan, no matter how big your nest egg is.

People throw around the phrase “financial plan” rather loosely. Today, we’ll discuss how we define what a financial plan is and why everyone should have one.

The American Recovery Plan Act (ARPA) doesn’t sound quite as catchy as the SECURE Act or the CARES Act. But the government’s new trillion-dollar plan to accelerate our country’s recovery from COVID-19 is no less consequential.

Hitting age 50 is a major life milestone. It’s also one of several key ages that triggers some critical financial planning decisions. Today, we’ll review various age milestones and discuss the financial decisions they trigger.

President Biden and Congress continue to float some pretty significant tax proposals, including last week’s package focused on corporate tax rates. On today’s show, we dig into items aimed at individuals, particularly some potential changes that could affect retirees this time next year.

Folks on opposite sides of the political aisle don't agree on very much these days. But one area where Republicans and Democrats have found some common ground is the need for Americans to take more responsibility for their retirement planning. Corporate pensions are disappearing. Social Security won’t cover the bills. And many young folks face uncertain long-term prospects in our new decentralized post-pandemic workforce.

In today’s show, I’m joined by estate planning attorney Jason Salinardi and we discuss how to make sure your assets and life wishes are handled exactly as you desire in the event of your incapacitation or death.

In today’s show, we take you behind the curtain and discuss our financial planning process. You’ll learn what goes into a plan, how numbers are calculated, and how they are personalized for each of our clients.

Whether you are currently enrolled in Medicare or are planning for it in the future, this episode will provide you with important information you need to be aware of. Medicare’s options and intricacies can be overwhelming if you’re not prepared for them – and like many issues in financial planning – they are a moving target.iTunes Between Now and Success

On today’s show, we try to sort out the facts from the what-ifs, and make some considered observations about what President Trump may mean for taxes. Which proposed reforms are most likely to become law? Will there be a compromise with the Democrats? And what should you be doing to prepare yourself and your money for the next four years?

Tax season may – finally! – be behind us, but taxes are still very much on the minds of our listeners, and my clients at Keen Wealth. President Trump recently unveiled a new tax plan, the consequences of which are still being unpacked and analyzed. And changing taxes is just one part of the broader Trump economic plan that the president and Congress are trying to convert from campaign promises into actual legislation.

Imagine getting on an airplane for a dream vacation that you’ve been saving and planning for your entire life. Just as you’re settling into your seat, there’s an announcement from the captain: “Ladies and gentlemen, we’ve completed our pre-flight check, but I didn’t worry about the required fuel this time. If we end up being short, hopefully we will catch a tailwind that will get us to our destination. Should be fine.”

Retirement planning isn’t just about fueling up for the flight to that dream destination. A lot of my clients at Keen Wealth also want to plan the most tax-efficient and responsible ways to set aside resources now that will support their kids and grandkids as they get started on their financial journey. That may mean a college education, buying a first home, or even giving them a head start on their retirement planning.

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).

Last week the Keen Wealth leadership team took a trip to Chicago for the Charles Schwab IMPACT® Conference. One of the biggest gatherings in the financial services industry, it is designed to educate attendees on new technologies, trends, and navigating hot-button issues. There were dozens of sessions, hundreds of vendors, and vast opportunities to learn.

Maybe the scariest thing about the 2017 hurricane season is that it’s not over yet. It’s hard to imagine dealing with anything more destructive than Harvey, Irma, and Maria this year, but historically, some of the strongest storms have hit the U.S. in October and November. And add in the devastation from the recent large-scale earthquakes, it’s clear that the strain Mother Nature has put on our disaster prep and response services will continue for some time.

Thank you so much to everyone who joined us for Retirement Matters: What’s the Best Way to Take Distributions from My Retirement Plans? I hope this presentation provided some helpful perspective on how to put your assets to work for you once you’ve retired.

But that doesn’t mean there aren’t important things to consider at this point in the market cycle. On today’s show, our wives are in the studio to help us discuss the mid-year outlook for the markets, consumer spending, what surprises might be around the corner, and how to plan accordingly.

On today’s show, we tackle one big retirement question from a listener with a lot on his mind. Retirement is nearing for both him and his wife. Decisions have to be made about portfolio rebalancing, withdrawal rates, and legacy planning. The breadth of issues and wealth of options are intimidating, and worse, this listener isn’t sure who to trust with these important questions.

My team at Keen Wealth has been hard at work pouring over the new tax bill that President Trump signed into law at the end of 2017. There’s much to unpack and a few details that still haven’t settled into place, but I know that my listeners and clients have questions. So while this probably won’t be our only episode this year on what might be the biggest change to the tax code in decades, today we will look at some of the most important changes this bill introduces. Hopefully this discussion will help folks cut through all the political clamor, and start thinking about the potential impact on their financial planning.

On today’s show, we discuss the essential steps everyone needs to take to create an estate plan, and how your estate fits in with your big picture financial planning as well.

On today’s show, we talk about how to introduce your young children to saving and investing, some important planning tips for young adults just entering the workforce, and how to involve your grown children in your estate planning.

My Keen Wealth team can help you make well-informed decisions for your retirement. We can help you figure out how much to save and invest. We can help you figure out an annual withdrawal rate that will keep you happy and active without breaking the bank. We can put you in touch with the right tax and health care pros. We can help get your estate in order. Heck, we’ll even sit down with your children and explain to them the importance of starting their own financial plans as early as possible.

I suspect that a month or two from now, your inbox and social media feeds will be full of year-end tax-planning checklists and advice articles. But one of our mantras at Keen Wealth is, “get out ahead of issues as early as we can.” So on today’s show, we help our listeners get a jump on year-end tax planning. If you put off addressing these important items, you’re not just wasting time. You could be losing money.

On today’s show, we’re giving our listeners an important overview of long-term care: who needs it, for how long, what Medicare does and doesn’t cover, and how to make sure your financial plan keeps you safe and comfortable throughout the later stages of your retirement.

As much as we caution investors against making knee-jerk reactions to the news, your investments and your long-term planning don’t exist in a vacuum either. That’s why when I attend conferences like the Barron’s Top Independent Advisors Summit or the Schwab Impact Conference, I like to come back with a report that I think will be beneficial to my clients and listeners. It’s just another way that we at Keen Wealth try to give the folks we work with a comprehensive financial-planning experience.

On today’s show, we discuss how to keep media scare tactics out of your head, out of your decision-making, and out of your portfolio.

On today’s show, we discuss how charitable giving factors into your year-end tax planning preparation. A little forethought and some guidance from a financial professional can help you maximize your generosity – which could make a big difference in another person’s life this holiday season. According to experts, giving could give your own health and happiness a big boost as we head into the new year.

The number one question we get from clients and friends at Keen Wealth is, “How much money do I need to retire?” But that’s not the question we help our clients answer when we’re working on their financial plans. Contrary to all the late-night TV and internet ads, there’s not some magic number to hit, no secret formula for combined savings, assets and investments that’s going to guarantee a secure retirement.

As we discussed earlier this year, 2018 marks the 40th anniversary of the IRA and the 20th anniversary of the Roth IRA. For decades, Americans have been using these investment accounts to take control of their retirement planning and provide their families with favorable wealth building vehicles. The Roth in particular has become extremely popular thanks to its tax-free accumulation. And, as more and more seniors are working in retirement, the ability to keep making contributions for as long as you’re earning income is attractive as well.

Financial planning can be complex and overwhelming and that’s why we look for ways to keep the process organized and on track.

Thank you to all of our clients, family, and friends who attended our 2018 Holiday Breakfast. If you didn’t have time to schedule an annual review of your financial plan during the hustle and bustle of the holidays, give us a call and set up an appointment so we can get going on making 2019 another positive and productive year.

There are few things in life more trying than the death of someone close to you. But if you are a spouse, executor, or chief beneficiary, settling that loved one’s estate adds a whole extra layer of complication and stress to what is already a very difficult time.

At Keen Wealth Advisors, we believe that long-term financial success requires a focus on two distinct areas: First, crafting a financial plan specifically tailored to your needs, abilities, and hopes for the future; and second, choosing the right investments to fund the plan.

One piece of advice we give our clients at Keen Wealth Advisors is to make a financial plan that attempts to minimize surprises in retirement. Without a plan, many retirees get their first big surprise in the second week of April. And it’s not a fun surprise: when you stop receiving a paycheck and start living off your assets and investments, your tax filings can change dramatically.

Social Security was originally developed to be just a retirement safety net, but over time benefits grew and the system now covers an estimated 96% of Americans and makes up an average of 40% of a typical retiree’s income.

Without a blueprint, you can’t build a house. And without a map, you wouldn’t set off on a road trip. The same rule goes for retirement planning. When it comes to such a big milestone in life, you need a financial roadmap that navigates you from point A to point B.

What if you are healthy at 100? Will your retirement savings last that long? We all know how important it is to create a retirement plan and save to ensure that we have enough to last through those Golden Years, but many people haven’t saved enough. Only one in four people aged 55 and over has more than $300,000 saved. Fortunately, most of our clients at Keen Wealth Advisors fall in that “one in four” category and have done a nice job saving for retirement.

We’re big on planning ahead at Keen Wealth. So over your holiday break, take a moment to go through my end of 2017 checklist. Tie up any loose ends, get some meetings on your calendar, and you’ll be ready to hit the ground running in 2018.

Moving from your employer-subsidized health care plan to Medicare or Medicaid can be one of the most complicated, and stressful, transitions for new retirees. Options vary depending on what state you live in. Weighing the cost benefits of affordable but restrictive Advantage plans, versus the freedom of a more expensive Supplement plan, can create budgeting challenges. We covered the basics of navigating Medicare in a very informative podcast earlier this year. Today, I want to give you some good news: once you do settle on a plan that provides for your health care needs, Medicare offers free preventative services that new retirees should jump on:

Is your conservative spending plan in retirement putting a lid on your day-to-day happiness? At Keen Wealth, we tailor financial plans to the specific needs and long-term goals of each client. But whatever tools and strategies we utilize, I think it’s safe to say that we’re helping folks stick to a “savings mindset.” And that’s a good thing! We’ve talked in recent blogs and podcasts about how important it is to get in the habit of saving and investing, especially for new workers (like your kids or grandkids).

Recently, I took a friend up in my plane for a short lunch trip. As we were cruising along, he asked me, “Bill, how do you know that this plane is mechanically safe? Is the battery charged up? Do you ever check the engine and other systems? How do you know that, structurally, this plane is sound and airworthy?”

If your household is anything like mine, couples often divvy up jobs and responsibilities to make sure everything gets done, and everyone’s needs are met. Maybe one spouse works, and the other takes care of the kids. Maybe one spouse handles the meals, and the other handles transportation to lessons and practices. Maybe one spouse takes care of the yard, and the other takes care of home repairs.

Our team at Keen Wealth can help you create a financial plan that will fund the retirement you want. What we can’t do is make sure that the things you spend your assets on are going to make you happy – especially if your spending is heavy on stuff and light on experiences.

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!

If you have investments of any kind you know there are costs associated with owning those investments. In addition, if you’ve been thinking about working with a financial advisor, you also know you’ll pay him or her a separate fee for their ongoing counsel. The bottom line question you should be asking is this: Will I be better off, net of fees, by working with an advisor than if I try to navigate my planning and investing on my own?

No, we can’t look back at 2017 and tell you definitively how the market is going to behave in 2018. But we can look for potential “rhymes,” the lessons of the past year and the trends that may echo into the next. In particular, I think there are four important takeaways from 2017 that you should keep in mind when discussing your 2018 financial plans with your fiduciary advisor:

As parents, our children are always at the forefront of our concerns, especially during back-to-school season. But as my clients near retirement age, their own parents often become part of the caregiving picture as well. An aging parent who is showing signs of slowing down, or suddenly needs more direct attention after a medical emergency, presents a whole separate set of challenges and responsibilities that can affect your financial planning.

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.

A pilot is preparing to depart on a planned flight. As he performs his final inspection, he spots a mechanical issue that he should have caught much earlier in his pre-flight check. Attending to this issue causes the pilot to miss his scheduled morning takeoff.

At Keen Wealth, we try to view these developments through a very wide lens and remind our clients that the long-term upward trajectory of our economy never follows a straight line. Today, I thought it might be useful to narrow our focus a little bit. Let’s look at how the rate of inflation affects your personal portfolio, as well as other factors that don’t necessarily make the headlines but can still impact your purchasing power in retirement.

I believe that stress reduction should be a much bigger focus throughout our lives, especially as we near retirement age. The world we live in today bombards us with near-constant information overload, and that massive stress, in turn, can lead to true clinical anxiety and even physical illness.

Deciding when to start taking Social Security payments is one of the most important decisions you and your fiduciary advisor will make about your retirement plan. It’s also one of the trickiest to get right.

In this two-part blog series, I’m going to discuss how to plan for your transition away from employer-subsidized health care to Medicare. Today, we’ll go through the options available to folks who choose to retire early, meaning before they’re eligible for Medicare at age 65.

In order to avoid this downside of retirement, my Keen Wealth team works to determine not only our clients’ financial needs, but we also work to understand their psychological and emotional needs. We like to really get to know our clients so that we can plan together for a meaningful retirement in which financial security and an active, engaged, fulfilling lifestyle go hand-in-hand.

Most of the clients that we work with at Keen Wealth are prudent, reasonable and disciplined with respect to their retirement resources. Every so often we will come across a soon-to-be retiree who thinks that when they gain access to their retirement nest egg, they can just stop working and crack open their accounts like they’ve just won the lottery. This occurs more often with folks who haven’t had to commit to a lifetime of saving, investing, and planning, but instead may have earned a lump sum on their pension, earned corporate profit sharing, or came into an inheritance. In s

I’ve written before that my team at Keen Wealth places a high priority on educating ourselves about trends, innovations, and ideas that could have an impact on the financial and lifestyle planning we do for our clients. Personally, I set aside a few hours out of my workweek for learning time, and recently I came across a fascinating Ted2017 talk from Susan Pinker. She’s a developmental psychologist whose book, The Village Effect, talks about how important face-to-face social bonds are to our longevity and quality of life. I recommend watching Pinker’s entire Ted2017 talk, but I’d also like to focus on a few insights that I think can really help seniors strengthen their social bonds and enjoy a long and prosperous life in retirement.

“If something happened to me, what would happen to my family?” I know this question is on the minds of many of the clients at Keen Wealth. It’s also the question that inspired my guest on today’s podcast, Polly Bartle Blomquist, to transition from family law to elder law and estate planning.

Today, a successful retirement requires much more purposeful planning that accounts for major generational changes in how we work and live. I believe that engineering a modern retirement blueprint starts with four essential building blocks: Health, Family, Purpose, and Comprehensive Financial Planning.

Today, a successful retirement requires much more purposeful planning that accounts for major generational changes in how we work and live. I believe that engineering a modern retirement blueprint starts with four essential building blocks: Health, Family, Purpose, and Comprehensive Financial Planning.

Today, a successful retirement requires much more purposeful planning that accounts for major generational changes in how we work and live. I believe that engineering a modern retirement blueprint starts with four essential building blocks: Health, Family, Purpose, and Comprehensive Financial Planning.

A recent study by Valuegraphics analyzed more than 500,000 surveys in 152 languages and determined that there are 56 values that drive all of human behavior. While the results did show some significant cultural differences between how these values are ranked, the top responses show that there is a lot of commonality when it comes to the really important things in life.

So, what exactly is a reverse mortgage? What are the options that Chuck alludes to in his question? And is Magnum, P.I. giving you good advice in all those TV ads you’ve been seeing?

We expect Thanksgiving to be a little stressful, especially if we’re hosting. We plan on being exhausted, especially if travel and kids are involved. And we often mentally prepare for some tension, especially if the dinner conversation turns to politics.

On today’s show, we talk about how to make sure “pay to play” scenarios aren’t impacting your financial planning. We also discuss some important questions you should ask potential advisors to make sure your best interests are protected.

In my experience, the folks who have the most positive financial outcomes are often the ones who are the most engaged in the planning process. Now, that doesn’t mean I expect my clients to become expert portfolio managers! But if you’re working with a fiduciary advisor who is paying close attention to the issues of the day, you’re likely to feel more at ease about your investment strategy and more confident about reaching your long-term financial goals.

In 2019 my family took a vacation to Cabo. When I looked at the photos from that trip, I didn't like what I saw. The bottom line was, I had let myself get out of shape. I was overweight, feeling lethargic, and the pictures really brought home the fact that I needed to make some changes. On my own, I started eating better and exercising more. But I knew that wouldn't be enough to get the results I wanted. So, I did what I've advised folks to do hundreds of times in my financial planning blogs and on my podcast: I called in the pros!

Clients and friends of Keen Wealth have questions surrounding the Setting Every Community Up For Retirement Enhancement (SECURE) Act that was passed at the end of 2019. And with good reason! In many ways, the SECURE Act represents a significant rethink of retirement and estate planning. The government has recognized that as folks begin working longer at a wider variety of jobs, individuals need to start taking more personal responsibility for their retirement planning.

Generally, on Keen on Retirement, we don’t like to discuss proposals that are floating around in Washington. There’s so much politicized chatter in our newsfeeds every day that we prefer to wait until the facts get separated from the fiction, all the dust settles, and a new law is actually put into effect. But we’re making an exception on today’s episode for the SECURE Act of 2019, which passed the House back in May and is currently kicking around in the Senate. The discussion surrounding the House version of the bill gives us some important insights on what the government is thinking about your nest egg and the future of retirement planning.

The coronavirus pandemic continues to make recent market swings difficult to follow. Are the markets recovering or not? Are we still bearish or heading back to bullish? And what do these movements mean for your retirement planning? Today’s episode is another up-to-the-minute look at the current economic situation that we wanted to get out to you all as quickly as possible. We also just recorded a more in-depth webinar on these topics that you can view by clicking here.

Believe me, I understand that your checklist for the month of December is probably spilling onto another page already. And it’s not much fun to sit around the fire and think about filing taxes in April. But there’s less than two weeks left to consider some moves that could have a major impact on how you wrap up 2019 and progress into 2020.

I’m really happy that clients and other friends of Keen Wealth have continued to ask us questions about their financial planning over the past month or so. Those questions tell me that even as we’re dealing with all of the uncontrollable stresses surrounding the COVID-19 pandemic, folks are keeping at least one eye on the things they can control

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.

More often than not, the skills and processes that make folks successful in one business work in other businesses as well. I think that’s a big reason why Keen Wealth Advisors has been able to establish such a strong relationship with the engineering community in Kansas City and around the country. Engineers respond to our checklist-driven planning process because they use the same kind of diligence in their own work. And we love working with folks who are hardworking, curious, and dedicated to following through on a plan.

After a historic week, it looks like America will head into the new year with a new president and some very encouraging news in the fight against Covid-19. The ways that these events have rippled through the markets are yet another reminder of just how complex – and how resilient – our economy is. In the weeks ahead, it will be very important that folks separate their personal feelings from their financial planning and stay focused on things that they can control.

At the beginning of the new year, Keen Wealth makes it a priority to run through our financial planning checklists with clients. This helps us put a bow on the year we just finished and make sure that folks have everything in order to try to make the year ahead as productive and prosperous as possible.

At Keen Wealth, we encourage our married clients to participate equally in the financial planning process. One spouse might be the primary breadwinner and the other might keep up the home and raise the kids. Or both spouses may have careers but one still handles all of the financial planning.

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.

At Keen Wealth, we believe that financial planning isn’t just about money. It’s about using your money to live the best, most fulfilling, and happiest life you can.

A generation or two ago, most folks retired just because they turned 65. Today’s retirement is a bit more complicated than that. Age is still an important factor, but your ability to connect your financial resources to your lifestyle goals is just as important. And that brings us to one of my favorite planning tools – Checklists!

A few times every year a new client walks into Keen Wealth so excited to start planning and saving that they think they’ve already done the work for me! They show me this big, beautiful spreadsheet they’ve put together that has everything: salaries, assets, liabilities, cash in the bank, investment accounts, their whole financial picture.

Now that the presidential election is nearly over, I hope that folks will start to focus a little bit more attention on their financial planning to-do lists as we close out 2020. I know it’s tempting to get caught up in speculating what Congress and the Federal Reserve will or won’t do with regards to the economy, the markets, and health care. But those are unknown variables right now that none of us can control.

When love is in the air, some folks have a tendency to lose their heads. That can be fun if you’re planning to sweep your loved one off his or her feet this Valentine’s Day. But when it comes to your finances, letting your heart get in the way of your head can lead to some serious problems. Forget about killing the romance – if couples wearing rose-tinted glasses aren’t careful, these money mistakes can kill their financial future.

Coulda. Shoulda. Woulda. Three words we never want to hear from our Keen Wealth clients who are well into their retirements. And, I’m happy to say, three words we don’t hear very often! But we do work with retirees who tell us that there are things they wish they’d done differently. What’s interesting is that the major retirement regrets that clients share don’t really have to do with how their financial planning played out. Instead, these folks regret decisions they did, and didn’t, make that impacted how they lived in retirement.

Our thoughts are with everyone affected by the storms that hit the Midwest recently. In particular, the mile-wide tornado that tore through Linwood, KS was a sobering reminder that we’re going to be dealing with peak tornado season for at least a few more weeks, as well as ongoing concerns about flooding as our rivers continue to swell. You know our mantra at Keen Wealth when it comes to your finances and your life: plan ahead. And in our part of the country, tornado and flood prep has to be a part of that larger picture. Take a moment to go through these important tips that will help protect you, your family, your home, and your money.

There’s more to crafting a sensible estate plan than just deciding what assets you want to leave to your loved ones. That’s a big part of the process, of course. But your estate plan might also include establishing a trust that safeguards your assets for beneficiaries. You might set up a charitable fund that benefits a favorite cause. You’ll need to file all your important documents in one easy-to-find spot. You’ll need to make decisions about how you want to be cared for at the end of your life. And you’ll need to coordinate with attorneys and tax experts.

There’s a good reason why many fiduciary advisors have replaced the outdated phrase “retirement planning” with terms like “life-centered planning” when describing what we do.

Many people wait until they are on the brink of retirement--or worse, already retired--to figure out their retirement plan. This is akin to flying a commercial jet without a flight plan. One mistake and the plane can go down.

Even if one spouse is the primary breadwinner and the other more of a homemaker, couples have to plan for retirement together. Your retirement planning process and your retirement period itself will be much more successful if you put the time in now to think about both parties’ needs. And if a sudden health issue should make it hard for one of you to handle the family’s finances, both people need to understand how the bills get paid and how your investments are working. These five special considerations for retiring couples are big topics at our annual checkups with married clients.

When is the best time to start planning for retirement? Right now! Whether you’re new to the workforce or just starting to see retirement on the horizon, you never know what tomorrow is going to bring. Hopefully you’re able to work as long as you want, doing something that’s fulfilling until you’re ready to retire.

At Keen Wealth, we stress planning for retirement as far in advance as possible so that our clients will be ahead of the game. We encourage clients to create a retirement blueprint with measurable milestones and specific achievable goals. And we help them implement personalized strategies for disciplined wealth-building over time.

Whether you’re 30 or 60 years old, involving a financial advisor in your retirement planning is a smart move. But not all financial advisors are created equal. Some advisors are more interested in making money or meeting employer metrics. It’s important you know how to steer clear of these folks and find an advisor who truly has your best interests in mind.

When we ask our clients to describe their ideal retirement, two of the most common responses are “healthy” and “stable.” In our experience, most successful retirees find ways to align these two goals … and throw in a little fun as well. In fact, it seems that there may be a psychological connection between how we plan for our money and how we plan for our health.