Keen on Retirement

I've been a wealth advisor for more than 20 years and I've seen many people absolutely love and thrive during their retirement years. They planned well, they knew what to expect, and even when life threw them a curve ball, they found effective ways to deal with it. But I've also seen folks who for one reason or another, never quite experienced the retirement they hoped for and are failing at retirement in certain areas. And I'm not just talking about money here. Many of the reasons why people experience an unhappy retirement have little to do with the size of their savings.

Failure is not something we like to talk about. However, we know that if people don't plan appropriately for retirement, they are going to fail. As part of our educational program here at KeenOnRetirement, we want to make sure that you are an informed retiree or prospective retiree and that you are aware of the common things that cause people to fail in their final decades.

Do you remember back in the late 1990s when the stock market was soaring and technology stocks reached astronomical valuations? Or how about the mid-2000s when real estate prices soared and people were making money flipping houses? Those are just a couple examples of how emotions and psychology led people to bid up prices way beyond a reasonable value.

In recent years, a new field of study called "behavioral finance" has arisen to study how psychology plays an important role in how we make investment decisions. In an ideal world, we would all make calm, cool, rational decisions about our money. But in reality, our "humanness" sometimes gets the best of us and we make behavioral mistakes.

The best investors are not only good at math, they also understand the "psychology" of investing and are able to manage the emotions and biases that affect all of us.

In today's episode, we talk about several common behavioral biases and discuss how you can overcome them. It's an important conversation that could help you avoid making behavioral mistakes in the heat of the moment.

Thanks to Ibbotson Associates, a Morningstar company, we have reliable data on the historical returns of several major asset classes dating back to 1926.

Going back that far covers the Great Depression as well as numerous bull and bear markets, the stock market crash of 1987, the Great Recession of 2007 - 2009, and the ensuing bull market that is still in place today.

In today's show, we discuss financial market history and the lessons we can learn from studying the historical returns of common types of investments. Even though past performance is no guarantee of future results, having a good understanding of the past helps give us perspective to what's happening today.

And speaking of what's happening today, the stock market is off to a rough start in 2016. Concerns about declines in corporate earnings, slowing growth in China, volatile oil prices, and potential increases in interest rates have all been weighing on the markets. Today's show is particularly timely because we take a long-term perspective and show how short-term noise (like we're experiencing today) is often necessary to set the stage for longer-term growth.

Join us as we learn how to benefit from history so we don't keep repeating costly investment mistakes.

"Fear sells" is perhaps one way to describe why financial media plays upon human emotions to draw more readers.

Unfortunately, investors who are drawn to scary headlines sometimes make bad investment decisions because they let their emotions get in the way. One way to overcome the "noisy headline" problem is to better understand the cyclical nature of the economy and the financial markets.

To help explain the business and stock market cycles, Bill Keen invited his Keen Wealth Advisors associate Matt Wilson to join us on today's show. Matt is a Managing Director of Keen Wealth Advisors, a CERTIFIED FINANCIAL PLANNER™, and has been with Bill for nearly 15 years.

Join us as we learn how to separate the news from the noise so we can become better investors.

When it comes to your money, certain decisions are triggered simply because of your age. For example, age 62 is the earliest you can start receiving Social Security payments, other than receiving a widow’s benefit.

Other important ages for financial planning include 55, 59-1/2, 60, 62, 65, 66, 67, 70, and 70-1/2.

Join us as we explore the age-related decisions you need to make to ensure you end up with the highest amount of after-tax savings and income as possible.

By the time people reach their early to mid-60s, they can expect to live another 20 - 30 years. What will you do to make sure those retirement years are filled with the right mix of family, fun, meaning, and vitality?

You've no doubt heard stories of people who retire and suddenly find themselves less happy than their pre-retirement days. It doesn't have to be that way. With some basic planning and introspection, your retirement years can be the most fulfilling of your life.

Today, Bill shares some insight and stories about how to live "happily ever after" in those years we call retirement.

Do I have enough money to retire? That's one of the most popular questions people ask financial advisors and usually it's a pretty straightforward calculation. Unfortunately, having enough money to retire is only one piece of the retirement puzzle.

Often times people forget the emotional aspect of retirement and how a lack of preparation in this area can derail what was otherwise a sound financial decision to retire.

Today, Bill tackles this retirement question head on and addresses the issues potential retirees need to consider to ensure their retirement years are fulfilling and meaningful.

Historically, the phrase “financial plan” conjured up images of a 200 page book filled with charts and spreadsheets. While they contained valuable information, often times they were reviewed once then put on the shelf to collect dust.

Today, new technology and a better understanding of how people consume information have combined to make the financial planning process a practical and effective way to plan for your future.

Listen as Bill Keen discusses what “financial planning” looks like today and how having a plan and updating it regularly could be your ticket to financial freedom.

In our inaugural episode, you'll learn why we're doing this podcast, what some of our upcoming topics will be, and you'll learn the backstory of wealth advisor Bill Keen and the life experiences that shaped him.

Throughout the podcast, we’ll take you through the financial planning process to help ensure you make smart decisions about your money and your life.

Whether you’re on your way to retirement or already there, these shows will educate you, entertain you, and guide you to living the life you dream about.