As we discussed on our previous episode, many financial pros and taxpayers are working overtime this tax season to accommodate the American Recovery Plan Act’s changes to tax law. But my team at Keen Wealth also has one eye on Tax Day 2022. President Biden and Congress continue to float some pretty significant tax proposals, including last week’s package focused on corporate tax rates. On today’s show, we dig into items aimed at individuals, particularly some potential changes that could affect retirees this time next year.

Keen on Retirement

How President Biden’s Tax Plan Could Affect Retirement Planning

The American Recovery Plan Act (ARPA) doesn’t sound quite as catchy as the SECURE Act or the CARES Act. But the government’s new trillion-dollar plan to accelerate our country’s recovery from COVID-19 is no less consequential. In many ways, its effects are going to be more immediate as well. Most folks who qualified for tax rebate checks have already received them. And, as we discuss on today’s show, ARPA’s changes to some aspects of tax law could require swift action for some folks before the extended 2020 tax deadline of May 17th.

How the American Recovery Plan Act Could Affect Your 2020 Tax Filing

According to his annual letter to Berkshire Hathaway shareholders, not even the great Warren Buffett was immune to pandemic-induced market volatility. Berkshire Hathaway’s 2020 earnings were down 48% compared to 2019. For the year, Berkshire Hathaway’s stock rose 2.4%, a relatively small ROI by Mr. Buffett’s lofty standards. Reading Mr. Buffett’s thoughts on his company’s performance and our country’s economy always gives my team at Keen Wealth lots to think about as we’re fine-tuning our own outlook for the year ahead. Additionally, as we discuss on today’s show, Mr. Buffett has some significant insights about building long-term wealth that stand in sharp contrast to the GameStop mania that could be distorting how a generation of young investors view the markets.

Should Investors Build Like Warren Buffett or Grab Some GameStop?

In this webinar, Matt Wilson, Managing Director and Chief Investment Officer at Keen Wealth Advisors, will cover a macroeconomic update of the markets, plus the key things we are watching right now and our outlook for the remainder of 2021. During this webinar Matt discusses: What we think is next for the stock market. Impact of the new administration. Is the market disconnected from the economy? When will the level of US debt matter? 

Market Update Q1 2021

Now that one of the most contentious presidential elections in history is behind us, it’s finally time to start thinking about … the next round of elections! According to our longtime friend Greg Valliere, Washington’s political pros are already looking ahead to the 2022 midterms. And that long-term perspective is already having a major impact on Joe Biden’s agenda for the first hundred days of his presidency, as well as the financial markets and the battle against COVID-19.  We’re so happy to welcome Greg Valliere back for this episode of Keen on Retirement. Greg is the Chief U.S. Policy Strategist at AGF Investments, a global asset management firm headquartered in Toronto. He’s also a frequent guest on CNN, Fox Business, Bloomberg Radio and TV, and CBS Radio News, and is frequently quoted in The Wall Street Journal, Barron's and The Washington Post.

Washington Insider Greg Valliere

In 2019 my family took a vacation to Cabo. When I looked at the photos from that trip, I didn't like what I saw.  The bottom line was, I had let myself get out of shape. I was overweight, feeling lethargic, and the pictures really brought home the fact that I needed to make some changes. On my own, I started eating better and exercising more. But I knew that wouldn't be enough to get the results I wanted. So, I did what I've advised folks to do hundreds of times in my financial planning blogs and on my podcast: I called in the pros!  Micah and Diana LaCerte are the husband-and-wife team behind Hitch Fit, which offers in-person fitness training in Kansas City and virtual training all over the world. Diana is a two-time world champion fitness athlete, a published author, a motivational speaker, and a Kansas City Business Journal Women Who Mean Business Honoree. Micah is a Muscle Model World Champion and Iron Man Fitness Magazine Cover Model, a TV personality, and a motivational speaker. You can also see Micah and Diana in the recent Amazon Prime documentary Access Muscle.   After working with Micah and Diana for a year, I've dropped 60 pounds, trimmed my body fat to 7%, and, at age 52, I'm in the best shape I've ever been in.  On today's show, Micah and Diana discuss their fitness philosophy, their process, and the mental roadblocks that folks of any age can clear to transform their lives.

It’s Never Too Late to Transform Your Life for the Better

I’ve wanted Irene Smith to be a guest on my podcast for a long time. And not just because she’s my stepmother. When we’ve talked to folks whom I would consider “successful retirees” on this show, there’s a common theme: stay active. Whether you continue to work, start volunteering, or throw yourself into a favorite sport or hobby, retirees have to make an intentional effort to get off the couch and maintain connections to their communities and their loved ones. Now, I’m not suggesting that everyone in their 80s should drive solo from Florida all the way to Kansas City – without GPS – like Irene did in order to visit me! But I do think the way Irene lives her life is an inspiration to all of us who are looking ahead and preparing to make the most of our Golden Years.

Don’t Tell My Stepmom What She Can’t Do “At Her Age”

Let’s kick off 2021 with some positivity … and a pop quiz! A recent study by Valuegraphics analyzed more than 500,000 surveys in 152 languages and determined that there are 56 values that drive all of human behavior. While the results did show some significant cultural differences between how these values are ranked, the top responses show that there is a lot of commonality when it comes to the really important things in life. So, of those 56 values, can you guess the top three? On today’s show we discuss these values and how a comprehensive financial plan can help support them. We also tie this theme into some interesting new data about retirement prep and a potential sequel to the SECURE Act that’s being discussed in Congress.

Comprehensive Financial Planning Can Help You Live Your Values in 2021

December is usually when we hold our annual Holiday Breakfast and Market Outlook Presentation at Keen Wealth. Unfortunately, due to COVID-19, we had to move this year's event online. The in-person educational and appreciation events we host at Keen Wealth have grown into a unique hallmark of our firm and are very important to us – especially the fellowship of our Holiday Breakfast. We look forward to getting back to hosting these events in the very near future. In the latest edition of his annual Market Outlook Presentation, Matt Wilson, Managing Director and Chief Investment Officer at Keen Wealth Advisors, covers: Forecast for 2021 Review and analysis of markets during 2020 The current state of the economy What impact the vaccine may have 

Lessons Learned from 2020 and 2021 Forecast: Are You Ready?

It’s certainly been an eventful couple of weeks since our last episode! There’s a very good chance that the first round of COVID-19 vaccines will be administered to our frontline medical heroes before the end of the year. We also saw the Dow Jones pass the historic 30,000 mark for the first time in history. And while that milestone reveals that there’s still some disconnect between Wall Street and Main Street in terms of our economic recovery, we certainly have some very positive signs pointing us towards 2021. On the political front, as states around the country finished counting, recounting, and certifying their vote totals, President-elect Joe Biden started to formalize his transition and announce some of his cabinet nominees. As we move closer to Biden’s swearing-in on January 20th, we thought it would be a good time to remind folks of some changes that are coming to Social Security next year and also discuss potential changes that the President-elect pitched on the campaign trail.

Could Joe Biden and Congress Cooperate on Social Security Reform?

After a historic week, it looks like America will head into the new year with a new president and some very encouraging news in the fight against Covid-19. The ways that these events have rippled through the markets are yet another reminder of just how complex – and how resilient – our economy is. In the weeks ahead, it will be very important that folks separate their personal feelings from their financial planning and stay focused on things that they can control. On today’s show, we discuss how the markets have reacted to the election and the pandemic with an eye towards 2021.

What Divided Government and Potential Covid Vaccines Could Mean for 2021

In this webinar, Matt Wilson, Managing Director and Chief Investment Officer at Keen Wealth Advisors, will cover a macroeconomic update of the markets, plus the key things we are watching right now and our outlook for the rest of 2020. Some of the topics Matt covers in this webinar include: The upcoming election and implications for your investments Update on Covid-19 The status of the economic recovery Our outlook for the remainder of 2020 

Election 2020: How the Election Could Impact the Market

In four of the last five presidential elections, the Democratic and Republican candidates were separated by just 5% of the popular vote. And, in two of those four elections, the winner of the popular vote lost the Electoral College. So, while there’s a lot of anxiety surrounding just how close next month’s election might be, it’s worth noting that our country has made it through some very tight races in recent years. Moreover, if you dig a little deeper into the framework that our Founding Fathers designed, you’ll find some extra layers of contingency planning that can guide us through some complicated election scenarios and ensure that our government keeps functioning. We hope that by talking through three of these election scenarios on today’s episode, we’ll help dispel some misconceptions, alleviate some worries, and provide some advice on how to keep the next month in U.S. politics in perspective when you’re thinking about your financial plan.

Setting the Record Straight on Three Election Scenarios

Nearly seven months later the Covid-19 situation remains very fluid. Infection and hospitalization numbers are stabilizing in some states and picking up in others. One constant has been the inspiring work that health care professionals and scientists are doing to help the sick and keep moving forward on a vaccine. I want to make it clear that no one at Keen Wealth claims to be a doctor or an epidemiologist. But during major events that affect our clients’ lives, we do take it upon ourselves to stay on top of the latest developments. We want to be able to provide information that folks can trust. We also want to be on the lookout for any issues that could potentially impact our clients’  financial plans. On today’s show, we discuss what our research and conversations with health care pros are telling us about the timetable for a Covid-19 vaccine. At the top of this episode, I also share a quick alert from the FBI about a telephone scam that’s making the rounds.

When Can We Expect a Covid-19 Vaccine?

During the pandemic, we’ve talked quite a bit about potential positive outcomes of this unprecedented experience. One plus that I’ve noticed recently is that more people do seem to recognize the importance of having a financial plan, whether they’re just starting the process or refining some details with their fiduciary advisor in light of all that’s happened this year. On today’s episode, we discuss 5 important areas where a financial plan can help keep your money in sync with your family’s needs, even when the unexpected happens.

5 Ways to Sync Your Financial Plan with Your Family’s Financial Needs

Do you want to make smarter decisions about your money and your life? Do you want to make sure you have enough money to retire comfortably? Join Founder and CEO of Keen Wealth Advisors, Bill Keen, as we discuss money, life, and everything in between. Whether you’re on your way to retirement or already there, these shows will educate and entertain you on your journey.