Keen on Retirement

It happened again!

The recent breach at Equifax is the third major cybersecurity disaster of 2017. WannaCry and Petya round out the "big three" that have gained widespread media attention. On top of that, earlier this month we found out that the Yahoo breach from 2013 was far worse than the company thought – 3 BILLION users had their accounts compromised!

Over the summer I wrote a blog about how these kinds of hacks and scams are becoming more common, and way more sophisticated. But luckily people are doing a better job of educating themselves about cybersecurity threats as well.

At Keen Wealth, we try to do our part to keep our clients and listeners informed about the latest online threats. On today's show we discuss how the Equifax breach happened, and offer some simple but effective cybersecurity tips that will help protect your info, and your money.

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.

In life, as in finance, the best way to deal with problems is to get out ahead of them. On today's show, Shawn Tipping and Bob Harris from Game Plan Experts join us to discuss what lessons in disaster prep families can learn from this year's record-breaking weather, and how thinking ahead can fortify your financial planning as well.

Your vacation is over, your kids are back in school … Time to pack up your swimsuit and eclipse glasses and get back to working on that nest egg!

Fall always seems to spark a renewed sense of focus in my clients at Keen Wealth, so for today's show, we thought it would be a good time to answer three big retirement questions from our listeners. 2017 continues to be a rough-and-tumble year, and when we're talking about your money, it's always a good idea to cut through the chatter on the news and the internet, and focus on the facts that really matter.

A year ago, on this podcast, we were discussing how the upcoming 2016 presidential election might affect the economy. Then, at the beginning of 2017, my clients and listeners wanted to know if the surprising "Trump rally" was for real, and how the new administration's plans might affect taxes and popular retirement-planning tools. Now, my clients are asking: "Has the 'Trump rally' peaked? Is there something I can do to take advantage? Do I need to prepare my investments for a big correction?"

You'll have to forgive me if I'm feeling a little nostalgic this week, but like many of you, I'm in the process of packing up my son for college. In just the last 18 years of Devin's life, the world has changed so dramatically.

That got me thinking about my Great Aunt Nina, born in 1901, who lived a full and eventful 100 years. It's truly amazing to think about all the incredible things Aunt Nina saw in the course of her lifetime. But I also think that looking back can provide some perspective, and some reassurance, to anyone worried about the future.

If you're new to investing, or just trying to educate yourself so that you can play a more active role in managing your money, wading through all the financial terms and acronyms used in our industry might make you feel like you're drowning in alphabet soup.

On today's show, we try to demystify some of these financial terms and acronyms for our listeners. Because we adhere to the fiduciary standard at Keen Wealth, we always put the best interest of our clients first. We want to be as transparent as possible when it comes to your retirement planning, and sorting through this word jumble of financial terms and acronyms might be a big help.

For the first part of our working lives, our retirement plans are on autopilot. We save what we can every month, we contribute to our employer-match 401(k)s, and if we're living within our means, we don't think about the plan very much.

But at Keen Wealth, we often see that once our clients hit 50, a lightbulb goes on: "My retirement plan is not just numbers on a page. This plan is going to have to sustain me and my family for the rest of our lives."

This webinar covers some common concerns that new and soon-to-be retirees have as they transition to the distribution phase of their investing.

We've all had a good chuckle seeing #adulting and #failuretolaunch on social media, describing the difficulty some millennials have adjusting to adulthood. But the numbers behind the hashtags aren't funny. For the first time in 130 years, an 18-34-year-old is more likely to be living at home with his or her parents than to be living with a spouse or partner. Incredibly, 25% of adults aged 25-29 are still living at home.

No one is teaching your kids basic savings strategies, budgeting, or retirement planning in school. This is one of those areas where parents have to take it upon themselves to educate their children and help provide for their futures.

On today's show, we speak both as parents and as financial professionals as we discuss some practical tips and strategies to educate your kids about their money.

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.

On today's show, we weigh the pros and cons of various investment and savings accounts to help you pick the best tools to provide for your child, and impart a little financial guidance to your heirs in the process.

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."

Would you stay on that flight, or would you join the crowd hustling towards the exits?

If your retirement plan is that dream destination, then your investment assets and the income produced from them are the fuel. One of the most common questions we get from our clients at Keen Wealth is, "Do I have enough money to retire?" And the answer is, that depends. It takes more fuel to fly from Kansas City to Orlando than it does to St Louis. So where do you want to go? Are you properly fueled?

On today's show, we discuss how a smart spending plan and disciplined withdrawal limits will keep your retirement tank from running dry.