Keen on Retirement

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.

On today's show, we open the listener mailbag to answer some common questions about the Trump economic plan, and how it could affect your finances. We also take a look at life insurance for retirees, and revisit the crucial distinction between a fiduciary advisor and a broker.

The 2016 presidential election was filled with uncertainty, including how a President Trump or a President Clinton would affect the stock market.

Last summer, when we discussed the potential impact of the election on the broader economic picture, many experts believed that Donald Trump would be bad for the markets. That prediction seemed to bear out on Election Night: as Trump's odds increased, the futures market decreased.

But then, around 2:00 am, a funny thing happened. The market flipped. And we've been riding a Trump rally ever since.

On today's show, we discuss the Trump rally and the market outlook for the rest of 2017.

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.

That's why at Keen Wealth Advisors we encourage our clients to talk to a licensed professional like our guest today, Cindy Stonum. Integrating your healthcare plan with your financial plan for retirement is an important way to make sure you've budgeted for regular monthly needs, and for any surprises that might spring up.

On today's show, Cindy walks us through the process of evaluating, choosing, and continuing to review the best Medicare options for your retirement situation. As you listen in, you will be surprised at the many tips and insights that Cindy shares.

When we're working with our clients at Keen Wealth Advisors, we understand that retirement planning is much more than just "getting the numbers right." Yes, you have to track your investments, budget your monthly bills, and calculate how living off retirement assets is going to affect your taxes. But a successful retirement is more than just a spreadsheet -- it's a whole new chapter of your life, and, with good planning, it can be a great chapter.

On today's show, my good friend Dick Blaisdell joins us to share his experiences of what it has been like during his 16 years of retired life to date.

Whether you're a long-term retiree or are on the glide slope, it's that time of year again to collect all of your various documents and prepare to file your taxes.

Where your income is coming from, how it's reported, what forms you use, what has been withheld -- these are all things that need to be gathered and accounted for. It can be confusing and it seems that so much continues to change with respect to filing your tax returns.

On today's show, we offer some timely and helpful advice on things we see the most in our firm during tax season. This episode will be especially helpful if you're new to the various 1099 forms.

When working with a financial advisor, how do you know whose best interest they are putting first--yours or theirs? If the advisor is required to put your best interests first, then they are operating under what's called the fiduciary standard. If they are legally able to put their own interests before yours, then they are operating under a less stringent standard called the suitability standard. On today's show, we discuss these standards, what changes may be coming, and how to understand the costs of your investments.

"How much money do I need to retire?"

That's one of many retirement questions we hear the most when helping clients with retirement planning. With retirement itself undergoing so many drastic changes, it's not surprising that more and more retirees are trying to quantify their retirement needs and plan accordingly.

On today's show, we tackle this and other common retirement questions submitted by you, our clients and listeners. We do our best to provide expert analysis on the challenges and opportunities facing retirees.

As the IRS starts rolling out its forms to taxpayers, there's a lot of uncertainty and misinformation, clouding big picture tax issues for both individuals and corporations.

A good advisory firm is proactive and thinking ahead on behalf of its clients. Good firms consider market realities rather than the high emotions that dominate the current political landscape. We try to help our clients think about their money in the same way and we are continually monitoring the on-going changes to tax structure so that we understand how our clients will be impacted.

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 your 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?

The legendary baseball player Satchel Paige famously asked, "How old would you be if you didn't know how old you are?" Chronologically, the calendar may say we're a certain age, but how old do you feel?

Today, we're going to share some thoughts on staying young at heart no matter what the calendar says your age is.

We all know how important it is to have a hobby and stay social. You hear that in all the different retirement planning pieces that come out, but I wanted to go a little deeper today and share things that I've seen in my 25 years of practice that are working for people.

These are things that I'm seeing my clients do to keep themselves staying young, productive, happy, content, and growing in retirement.

As we start the new year, I want to thank you for being part of the Keen on Retirement community and taking the time to listen to our podcasts and read our blog posts. We are truly grateful for the opportunity to work with you and we look forward to an amazing 2017.

In this second presentation, my colleague Matt Wilson helps us understand what's happening with interest rates, with wages and inflation, and with Trump's policies. Are we heading into trade wars? What will happen to healthcare? What's going on in the financial markets?

Matt does a terrific job of putting all these things into perspective in an informative and entertaining way. On top of that, he helps us understand what we should do with all this information. Because as I like to say, we can talk all we want about the headlines, but it's what we do in the trenches that really makes a difference for our clients.