Keen on Retirement

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.

Another skill set that will position you to succeed just about anywhere: strong communication. My guest today, Anthony Fasano, was rapidly advancing at a civil engineering firm when he realized that the best engineers had mastered more than just math and design. Anthony founded the Engineering Management Institute, which provides career and personal development resources for engineers. Anthony is also the author of Engineer Your Own Success, Seven Key Elements to Creating an Extraordinary Engineering Career, and the host of The Engineering Career Coach Podcast, which Forbes cited as one of the 15 Most Inspiring Podcasts for Professionals.

Like my recent appearance on Anthony's podcast, this episode will definitely appeal to the many engineers and employees of engineering firms whom we're proud to work with at Keen Wealth. But the ideas that Anthony zeroed in on could get anyone thinking about skill sets that will help you further your own career, make a midlife career switch, or start your dream company once you retire.

The May 2020 jobs report could mark a turning point in our country's struggle to get back on its feet after the Covid-19 pandemic. While some experts were bracing for up to 7 million more lost jobs, instead we got a pleasant surprise: 2.5 million jobs added and a 1.4% drop in unemployment.

The markets responded very favorably to this news. But with so many people still out of work and so many communities still struggling, it can feel like Wall Street and Main Street are way out of sync. So, on today's show, we dig into some high frequency data that I think can help improve our perspective on where our economy is really moving.

Recently I had the honor of participating in a video conference with CEOs and small business owners in the greater Kansas City area where we shared our perspectives on how to reopen our local economy safely and effectively.

The organizer of that call was our region's advocate at the Small Business Administration, and my guest today, Adrienne Vallejo Foster. Adrienne is currently running for Congress in the Third Congressional District of Kansas. She's a former mayor who also served as Executive Director of the Hispanic and Latino American Affairs Commission in Kansas. One of Adrienne's current responsibilities is to assist in the Opening America's Workplaces Again initiative by gathering feedback from small businesses in our region so that we have a voice in the decision making happening right now in Washington, D.C.

Last week's job numbers have had a big impact on this week's main topic of discussion: reopening. Communities around the country are starting to establish guidelines that will, hopefully, allow more folks to get back to work while also keeping the spread of COVID-19 in check.

In the meantime, folks who are hurting are starting to get some relief via extended unemployment benefits and federal tax rebate checks. Others are weighing new options created by the CARES Act, including coronavirus-related distributions (CRDs). If you're thinking about using your retirement assets to navigate the pandemic, you're definitely going to want to listen to our discussion on how CRDs may help.

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. There is still business to be conducted, bills and taxes to pay, and both short and long-term plans to make. And as an essential business, Keen Wealth has been able to make a smooth transition to our new health and safety realities so that we can stay available to our clients when they need us the most.

On today's show, we go back to the mailbag to answer some questions we've received lately about oil prices, 2019 tax deadlines, and how the 2020 CARES Act affects the 2019 SECURE Act.

We're getting our first small glimpses of light at the end of the COVID-19 tunnel this week. Spread of the disease could be peaking. The markets are starting to look a bit more stable. And our political and health care leaders are in the very early stages of discussing how and when to reopen businesses.

Still, I know we're all dealing with a lot of anxiety and uncertainty, both in our personal lives and when we step back to take in the big picture. On today's show, we check in on the current state of the markets and the economy, while also answering three of the most common questions that Keen Wealth clients and friends have been asking us over the past couple weeks.

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.

We've all just gone through one of the most tumultuous weeks in recent American history – not just for the financial markets, but for how we live our everyday lives. So we're releasing this podcast episode a little earlier than usual so that you can get our latest take on the coronavirus situation and the broader economic picture.

For today's show, we put in some overtime to get you our up-to-the-minute take on how the coronavirus outbreak is affecting financial markets.

The short version: Outside shocks to the financial markets, like the coronavirus, can't be predicted, but we do plan for them. Outbreaks like Ebola, Zika, MERS and SARS have rattled the markets before. And while past performance does not guarantee future returns, after downturns like the one we're experiencing right now, the markets are typically on the road to recovery within a short amount of time. We're also optimistic about what other key economic indicators are telling us about the overall strength of the US economy.

However, that doesn't mean we're Pollyanna or complacent. We continue to monitor the situation and are ready to take action if the situation warrants. Listen to this episode for our thoughts on the opportunity that volatility provides us to re-balance portfolios and other strategies to utilize when the market is low, what the government might do to help stabilize the markets, and the likelihood of a recession

In this Market Update Webinar, Matt Wilson, Managing Director and Chief Investment Officer at Keen Wealth Advisors, takes a look back at what happened in 2019 in the markets and in the economy. And even more importantly, Matt takes a look ahead at what may be in store for 2020.

Some of the topics Matt covers in this webinar include:

• Upcoming election
• Current corporate earnings outlook
• Recession risks
• Health of the jobs market
• What the leading indicators are telling us
• Our expectations for the stock market for 2020