Keen on Retirement

Between the 24/7 news cycle and the two-year election cycle of our government system, I'm sure I'm not the only one who feels like our country is in a permanent state of campaigning. And that means some folks who do follow politics and their investments closely are often hearing our leaders talk about tax policy every time they turn on the news.

However, it's very important to distinguish between what candidates propose on the campaign trail, what's being debated in Congress, and what actually has a chance of becoming law.

On today's show, we separate the facts and the fiction from sound bites on capital gains taxes that you might have heard in recent weeks -- and that you're likely to hear a lot more as we head into the final month of the 2024 campaign.

On the morning of September 11, 2001, I was driving on Southwest Trafficway, heading to my office on the Country Club Plaza in Kansas City. When I walked inside the world had changed. My colleagues were huddled around TVs watching the horrific, surreal footage from the terrorist attacks in New York.

About a month later I was in New York for business meetings and I saw the destruction first-hand. Everyone was wearing facemasks because the air was still heavy with soot. At Ground Zero, some parts of the remaining tower structures were still burning from the intense heat.

You could feel the grief and the fear. But there was also a remarkable sense of resilience. People were pulling together, helping each other, doing their part. And, little by little, the city, the country – and, yes, the markets -- began to recover.

On today's show, my cohosts and I discuss our memories of that terrible day before zooming out for an analysis of how major historical events can affect the global economy and individual investors.

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. 

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.

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. 

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. 

"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.

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.