Keen On Retirement™

As I've discussed in my recent blog posts, many of the most important retirement choices don’t happen on a spreadsheet. And, as you and your advisor navigate the complex money decisions that touch on your feelings, your relationships, and your goals, you'll probably start to see that these decisions also extend beyond the horizon of your own retirement. But rather than asking yourself what you're planning to leave behind, a successful wealth transition should answer the question “What are we preparing the next generation to handle?”

Your phone buzzes with a text message that appears to be from your bank: "Did you authorize a purchase on your debit card at a local apparel shop today? Reply YES if you recognize this. Reply NO if you don't, and a fraud specialist will contact you." You reply, "No." A minute later, your phone rings. The man on the other end is calm, professional, and sympathetic. "I'm from the fraud department. I'm going to help you stop this unauthorized transaction. I sent a six-digit code to your phone. Just read it back to me." You do. He thanks you. The call ends. Minutes later, three transfers leave your bank account. You call your bank and manage to cancel one. But two transfers totaling thousands of dollars are gone permanently. And because you voluntarily provided the man on the phone with that six-digit code, the bank is likely not liable for your loss. This is a hypothetical example of what the FBI calls "takeover fraud." But the reality is that scams like this are targeting more and more seniors every single day. On today's show, we review the latest data from the FBI’s 2025 Internet Crime Report and some best practices that can help keep your money and personal info safe.

A comprehensive financial plan gives you options. Working with a fiduciary advisor gives you a trusted partner who can help you sort through those options and make informed and thoughtful decisions. But what happens if you aren't capable of making decisions for yourself? When assessing potential risk scenarios in a financial plan, cognitive decline and incapacitation are every bit as important as market volatility and liquidity. Maybe even more important. You can always earn more money. You can adjust your spending. The markets, historically, bounce back. But health is a resource that we can't always renew. That's why a secure retirement plan must include a clear, actionable process for protecting you and your assets against these cognitive risks.

Are you ready for the Great Wealth Transfer? Financial analysts estimate that older Americans will pass on as much as $124 trillion of personal wealth to their spouses, heirs, and charities over the next 25 years. And, unfortunately, much of that wealth won't survive for another transfer. According to one study, 42% of heirs fall back to their pre-inheritance net worth in about 12 months. Meaning that, due to poor planning or poor fiscal discipline, the money is gone. Whether you're a senior fine-tuning your legacy plan, a potential beneficiary, or a caregiver who might be tasked with settling a loved one's estate, folks have to plan ahead to make sure that wishes are honored and wealth is preserved, potentially for generations to come. On today's show, we discuss some best practices for managing inheritances at both ends of a family's wealth transfer and taking a generational approach to comprehensive financial planning.

You and your spouse have shared so much over the years. Professional ups and downs. Buying a home. The joys and challenges of raising kids. Taking vacations. Caring for your aging parents. Setting and reaching so many financial goals. Through it all, you've always been on the same page. So, why would retirement be any different? Because once you and your spouse stop working, your lives are going to change dramatically – much more, in fact, than many seniors are prepared for. And even if you and your spouse agree on when you're going to retire, you may not agree on what's going to come next. Here’s why retirement is different than other life transitions that you and your spouse have gone through and some important ideas you should discuss as you progress down your retirement runway.

"Tom and Linda" are a married couple. They're both 55-years-old. Tom works as an operations manager for a regional manufacturer, and Linda works in corporate finance. They are both targeting retirement at age 65. Complicating that 10-year runway is a situation that's becoming more and more common among Tom and Linda's generation: they're "sandwiched" between taking care of Linda's parents, who are in their early 90s, and their 25-year-old son, who is still living at home with them. On today's show, we explain how comprehensive financial planning can help couples like "Tom and Linda" manage complex, multigenerational family variables while maintaining progress towards their retirement goals.