Keen on Retirement

Greg Graves is the former president, CEO, and chairman of Kansas City's own Burns & McDonnell, which is 100% employee-owned and one of the most successful ESOPs in American history. Greg is also the author of a new book, Create Amazing: Turning Employees into Owners for Explosive Growth.

On today's show, Greg discusses his life as a new retiree as well as his vision for a more productive, profitable, and equitable American workforce.

As we discussed on our previous episode, many financial pros and taxpayers are working overtime this tax season to accommodate the American Recovery Plan Act's changes to tax law.

But my team at Keen Wealth also has one eye on Tax Day 2022. 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.

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.

In many ways, its effects are going to be more immediate as well. Most folks who qualified for tax rebate checks have already received them. And, as we discuss on today's show, ARPA's changes to some aspects of tax law could require swift action for some folks before the extended 2020 tax deadline of May 17th.

According to his annual letter to Berkshire Hathaway shareholders, not even the great Warren Buffett was immune to pandemic-induced market volatility. Berkshire Hathaway's 2020 earnings were down 48% compared to 2019. For the year, Berkshire Hathaway's stock rose 2.4%, a relatively small ROI by Mr. Buffett's lofty standards. Reading Mr. Buffett's thoughts on his company's performance and our country's economy always gives my team at Keen Wealth lots to think about as we're fine-tuning our own outlook for the year ahead. Additionally, as we discuss on today's show, Mr. Buffett has some significant insights about building long-term wealth that stand in sharp contrast to the GameStop mania that could be distorting how a generation of young investors view the markets.

In this webinar, Matt Wilson, Managing Director and Chief Investment Officer at Keen Wealth Advisors, will cover a macroeconomic update of the markets, plus the key things we are watching right now and our outlook for the remainder of 2021.

During this webinar Matt discusses:

• What we think is next for the stock market.
• Impact of the new administration.
• Is the market disconnected from the economy?
• When will the level of US debt matter?

Now that one of the most contentious presidential elections in history is behind us, it's finally time to start thinking about … the next round of elections! According to our longtime friend Greg Valliere, Washington's political pros are already looking ahead to the 2022 midterms. And that long-term perspective is already having a major impact on Joe Biden's agenda for the first hundred days of his presidency, as well as the financial markets and the battle against COVID-19. We're so happy to welcome Greg Valliere back for this episode of Keen on Retirement. Greg is the Chief U.S. Policy Strategist at AGF Investments, a global asset management firm headquartered in Toronto. He's also a frequent guest on CNN, Fox Business, Bloomberg Radio and TV, and CBS Radio News, and is frequently quoted in The Wall Street Journal, Barron's and The Washington Post.

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! Micah and Diana LaCerte are the husband-and-wife team behind Hitch Fit, which offers in-person fitness training in Kansas City and virtual training all over the world. Diana is a two-time world champion fitness athlete, a published author, a motivational speaker, and a Kansas City Business Journal Women Who Mean Business Honoree. Micah is a Muscle Model World Champion and Iron Man Fitness Magazine Cover Model, a TV personality, and a motivational speaker. You can also see Micah and Diana in the recent Amazon Prime documentary Access Muscle. After working with Micah and Diana for a year, I've dropped 60 pounds, trimmed my body fat to 7%, and, at age 52, I'm in the best shape I've ever been in. On today's show, Micah and Diana discuss their fitness philosophy, their process, and the mental roadblocks that folks of any age can clear to transform their lives.

I've wanted Irene Smith to be a guest on my podcast for a long time.

And not just because she's my stepmother.

When we've talked to folks whom I would consider "successful retirees" on this show, there's a common theme: stay active. Whether you continue to work, start volunteering, or throw yourself into a favorite sport or hobby, retirees have to make an intentional effort to get off the couch and maintain connections to their communities and their loved ones.

Now, I'm not suggesting that everyone in their 80s should drive solo from Florida all the way to Kansas City – without GPS – like Irene did in order to visit me! But I do think the way Irene lives her life is an inspiration to all of us who are looking ahead and preparing to make the most of our Golden Years.

Let's kick off 2021 with some positivity … and a pop quiz!

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, of those 56 values, can you guess the top three?

On today's show we discuss these values and how a comprehensive financial plan can help support them. We also tie this theme into some interesting new data about retirement prep and a potential sequel to the SECURE Act that's being discussed in Congress.

December is usually when we hold our annual Holiday Breakfast and Market Outlook Presentation at Keen Wealth. Unfortunately, due to COVID-19, we had to move this year's event online. The in-person educational and appreciation events we host at Keen Wealth have grown into a unique hallmark of our firm and are very important to us – especially the fellowship of our Holiday Breakfast. We look forward to getting back to hosting these events in the very near future.

In the latest edition of his annual Market Outlook Presentation, Matt Wilson, Managing Director and Chief Investment Officer at Keen Wealth Advisors, covers:

• Forecast for 2021
• Review and analysis of markets during 2020
• The current state of the economy
• What impact the vaccine may have