Bitcoin pioneer Charlie Shrem peels back the layers on the lives and backgrounds of the world's most impactful innovators. Centering around intimate narratives, Shrem uncovers a detailed, previously unspoken story of the genesis and evolution of bitcoin, cryptocurrency, artificial intelligence, and the web3 movements. Join Shrem as he journeys through the uncharted territories of tech revolutions, revealing the human side of the stories that shaped the digital world we live in today.
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Retirement Revealed
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Jeremy Keil에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Jeremy Keil 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
In the Retirement Revealed podcast, Jeremy Keil, CFP®, CFA shows you how to turn your retirement savings into retirement income. Listen in as Jeremy and his guests guide you towards making smarter retirement, investment, and tax planning decisions. Get free resources and learn how to have Jeremy and his team develop your own Retirement Revealed income plan at 5stepRetirementPlan.com. For important disclosures, see www.keilfp.com Keil Financial Partners may utilize third-party websites, including social media websites, blogs, and other interactive content. We consider all interactions with clients, prospective clients, and the general public on these sites to be advertisements under the securities regulations. As such, we generally retain copies of information that we or third parties may contribute to such sites. This information is subject to review and inspection by
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Jeremy Keil에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Jeremy Keil 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
In the Retirement Revealed podcast, Jeremy Keil, CFP®, CFA shows you how to turn your retirement savings into retirement income. Listen in as Jeremy and his guests guide you towards making smarter retirement, investment, and tax planning decisions. Get free resources and learn how to have Jeremy and his team develop your own Retirement Revealed income plan at 5stepRetirementPlan.com. For important disclosures, see www.keilfp.com Keil Financial Partners may utilize third-party websites, including social media websites, blogs, and other interactive content. We consider all interactions with clients, prospective clients, and the general public on these sites to be advertisements under the securities regulations. As such, we generally retain copies of information that we or third parties may contribute to such sites. This information is subject to review and inspection by
…
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Retirement Revealed
1 Investing in 2025: Sensible Market Strategies with Joseph Hogue 30:46
30:46
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30:46Discussing the hot button investing topics of 2025 with “Let’s Talk Money!” advisor Joseph Hogue. As a financial advisor, I often encounter questions that range from timing the stock market to whether retirees should invest in cryptocurrencies. There is a lot of confusing information available to anyone interested in exploring the multitude of investing options available in today’s market–so how do you know what is right for you? I sat down with Joseph Hogue, host of the popular YouTube channel “ Let’s Talk Money! ” to discuss a wide variety of common questions and potential pitfalls that trip up unsuspecting investors every day. If you have felt overwhelmed–or overly confident–about throwing your money into cryptocurrency or other emerging investment opportunities as a part of your retirement plan, this episode is for YOU! Dividends and Stability in Uncertain Markets Joseph kicked off the discussion by highlighting the value of dividends during market downturns. He emphasized that dividends provide not only financial stability but also a psychological boost for investors. “When the market drops,” Joseph noted, “having cash flow from dividends can help you stay motivated and even take advantage of new opportunities.” This aligns with my own philosophy: dividends are a reliable source of income that can sustain your portfolio through volatile times. For retirees, in particular, the steady stream of income from dividends can serve as a buffer against market unpredictability. Cryptocurrency: A Cautious Perspective The conversation then shifted to the hot topic of cryptocurrency. Joseph admitted that while crypto has generated a lot of excitement, it’s not an area he actively invests in. He explained that his initial enthusiasm for blockchain and Web3 technologies waned when practical use cases failed to materialize. “If Bitcoin is only a store of value,” Joseph said, “it’s not as compelling to me compared to stocks of companies generating profits and growing revenues.” He also discussed the difficulty of valuing cryptocurrencies, which often rely on network effect models like Metcalfe’s Law. This makes crypto investments inherently speculative, a point Joseph was keen to stress. While he didn’t dismiss crypto entirely, he recommended that investors limit their exposure—advice I wholeheartedly agree with. If you’re considering crypto, keep it to no more than 5-10% of your portfolio and do your homework. Avoiding the Hindsight Trap Joseph also warned against the allure of hindsight-driven regret. Too often, investors fixate on past success stories—whether it’s Bitcoin, Tesla, or Nvidia—and feel compelled to chase the next big thing. “People see these examples and think, ‘If only I had invested back then, I’d be a millionaire.’ But they don’t consider the risks,” he explained. This tendency can lead to over-concentration in one asset, a risky move that frequently results in significant losses. Joseph’s advice? Diversify. Limit your exposure to any single investment and avoid putting all your eggs in one basket. This strategy may temper your potential gains, but it also safeguards your financial future. Lessons from Renaissance Technologies One of the most compelling parts of our discussion was Joseph’s mention of Renaissance Technologies, a highly successful hedge fund. Renaissance’s focus is not on maximizing gains but on minimizing risk. “They don’t ask, ‘How much did you make today?'” Joseph shared. “Instead, they ask, ‘How much do you have at risk?'” This risk-aware mindset is something every investor can learn from. Diversification, risk management, and a focus on the long-term are key principles that can help you navigate volatile markets while preserving your wealth. Market Timing: A Futile Endeavor? We closed the conversation with a discussion about market timing—an idea Joseph and I both approach with skepticism. He emphasized that timing the market is nearly impossible on a daily, monthly, or even annual basis. Instead, he focuses on macro trends and sector-level investments, staying the course for several years at a time. “Rather than trying to predict daily market movements,” Joseph advised, “identify major economic themes and stick with them.” This resonates deeply with my own experience. Predicting short-term market movements is not only challenging but often counterproductive. By focusing on long-term trends and maintaining a diversified portfolio, you can position yourself for sustainable success. Next Steps Joseph Hogue’s insights underscore the importance of a disciplined, risk-aware approach to investing. Whether it’s leveraging dividends, being cautious with cryptocurrencies, or avoiding the pitfalls of market timing, his advice serves as a valuable guide for retirees and long-term investors alike. Investing in retirement is a journey that is made easier with someone walking alongside you. If you’re ready to figure out what investments make sense for the retirement you want to build, reach out using the links below! Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: Let’s Talk Money! – Joseph Hogue on YouTube Let’s Talk Money Newsletter Die with Zero Book Review – Mr. Retirement YouTube LinkedIn – Joseph Hogue Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
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Retirement Revealed
1 Curing Retirement Loneliness: How to Stay Connected and Thrive 35:57
35:57
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35:57Unlocking the power of relationships to enrich your retirement and reap the health & wealth benefits of social fitness with Susan Hogan. Everyone will enter their retirement years thinking about health and fitness to some extent. Susan Hogan believes that putting a concerted effort into your social wellbeing will have a ripple effect on your quality of life that is unmatched by any diet or exercise can bring you. In this episode of “Retirement Revealed” Susan sits down with me to explain why relationships matter more than you think when it comes to retirement satisfaction. The Loneliness Epidemic Loneliness is an issue that many retirees face, often without realizing it. As Susan described, the natural course of life means our social circles can shrink over time. Friends move away, grow ill, or become less socially active. Without deliberate effort, you might find yourself increasingly isolated. This is why planning for social connections should be part of your retirement strategy. It’s not just about ensuring you’re financially secure; it’s about safeguarding your emotional and social health. There’s no “friendship 401(k)” to draw from when you retire. Building and maintaining relationships requires consistent effort. Why Friendships Matter in Retirement Retirement is a significant life transition—a shift from decades of routine and purpose to a blank slate of possibilities. Many people focus intently on building their financial security, which is essential. But as Susan pointed out, retirement’s emotional aspects can be even more challenging. Without a plan for how to spend your time, nurture your health, and maintain social connections, it’s easy to feel lost and isolated. We’ve all heard the phrase “running out of money is scary.” But Susan argues that running out of health, friends, and purpose can be far worse . Studies show that social connections are critical to our well-being. They not only make us happier but can also increase our longevity. In fact, the benefits of staying socially connected rival those of quitting smoking or exercising regularly. Finding Purpose Through Connections Purpose and social connections are deeply intertwined. Many people think of retirement as a time to discover their purpose. But as Susan explained, having strong social ties can actually help you uncover that purpose. When we interact with others, we find new passions, opportunities, and motivations. Conversely, social isolation can create a negative cycle. Without purpose, you might feel less inclined to engage socially. And without social engagement, it’s harder to find meaning and fulfillment. Breaking this cycle often starts with taking small steps to connect with others. The “Evergreen Friendship Engine” One of Susan’s tools for fostering social connections is the “Evergreen Friendship Engine.” It’s a simple framework designed to help you build and maintain relationships at every stage of life. Here are a few strategies: Audit Your Friendships: Make a list of your current friends. Who do you want to reconnect with? Are there areas of your life where you’d like to make new friends—at the gym, church, or hobby groups? Engage at All Levels: Friendships exist on a spectrum, from strangers to best friends. Building connections at every level—even casual chats with strangers—strengthens your social muscles. Take Small Steps: Social fitness is like physical fitness; it requires regular practice. Whether it’s complimenting a stranger, striking up a conversation, or sending a text to an old friend, small efforts add up. Practical Tips for Staying Connected Susan shared some practical advice for maintaining and expanding your social network: Start a Conversation: Whether it’s with the cashier at the grocery store or someone new at your local pickleball court, a simple “hello” can go a long way. Reconnect with Old Friends: Send a text or make a call to someone you haven’t spoken to in years. Let them know you’re thinking about them. Combine Health and Socializing: Go for a walk with a friend. This combines physical fitness, mental well-being, and social connection all in one activity. Volunteer or Join Groups: Whether it’s through a hobby, church, or community organization, getting involved is a great way to meet like-minded people. Embrace the Opportunity for Self-Discovery Retirement is a time to be selfish in the best possible way. For years, your life revolved around work, family, and obligations. Now, it’s your turn to focus on what truly matters to you. Ask yourself: What do I want to do for me? What will bring me joy and fulfillment? By fostering friendships, you’re not only enriching your life but also creating a support system to help you navigate the challenges and joys of retirement. Remember, change is hard for everyone, but when you’re in the driver’s seat, you have the power to shape your future. As Susan emphasized, retirement is about more than just financial planning; it’s about creating a life that’s rich in purpose, health, and connection. If you’re feeling unsure about your social fitness or how to navigate this next chapter, take heart. Start small, be intentional, and know that every effort you make to connect with others is an investment in your happiness and longevity. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: LinkedIn – Susan Hogan www.inspiredretirement.ca Instagram – Susan Hogan Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
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Retirement Revealed
1 Finding Freedom: A Childfree Approach to Wealth and Retirement 32:47
32:47
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32:47Author and CEO of Childfree Wealth ® Dr. Jay Zigmont explains the unique financial planning needs and strategies used in childfree wealth management. 75% of people are likely to pursue the typical American trajectory of financial planning: save for retirement, retire, leave wealth for the next generation. But what do you do if you’re a part of the 25% who is childfree? In this episode of Retirement Revealed, I had the pleasure of speaking with Dr. Jay Zigmont, a financial advisor specializing in working with childfree individuals. Dr. Jay explains how the childfree experience challenges–and opportunities–that traditional financial planning doesn’t naturally account for. The Childfree Paradigm Shift One of the key takeaways from our conversation is the importance of shifting the focus from traditional retirement goals (e.g., saving for children’s college, leaving a large inheritance) to a more personalized approach. Childfree individuals often prioritize experiences, travel, and pursuing passions. Dr. Jay coined the term “financial means live early” (FILE), which emphasizes a lifestyle that allows individuals to pursue their passions and enjoy life earlier in their careers, rather than solely focusing on delaying gratification for a distant retirement. Redefining Retirement For many childfree individuals, the traditional concept of retirement – complete cessation of work – may not be the ideal goal. Instead, they may envision a gradual transition to part-time work, pursuing entrepreneurial ventures, or dedicating themselves to volunteer work and personal passions. The Importance of Life Planning Dr. Jay stresses the importance of life planning before financial planning. Childfree individuals need to define their values, identify their passions, and envision their ideal lifestyle before developing a financial plan to support those aspirations. Key Considerations for Childfree Individuals: Estate Planning: Focus on charitable giving, supporting causes that align with their values, or leaving bequests to friends, family members, or organizations that hold personal significance. Long-Term Care Planning: Given the absence of potential family caregivers, comprehensive long-term care planning is crucial. This may include purchasing long-term care insurance, exploring alternative living options, and developing a plan for in-home care. Debt Management: Prioritize paying down debt to reduce financial stress and increase financial flexibility. Investing for Experiences: Allocate resources towards travel, hobbies, and other enriching experiences that enhance their quality of life. Giving Back: Explore philanthropic opportunities that align with their values and make a meaningful impact on the world. A Relatable Journey After making a fortuitous and wise decision with his early career, Dr. Jay found himself earning his first million dollars by the age of 21. What happened next? He spent it! Though he doesn’t carry regrets about the way he used that money, it served as a wakeup call that he had a lot to learn about handling finances as an adult. Dr. Jay has since turned that experience into motivation to become a certified financial planner and help people who have chosen a childfree life. As 25% of adults are and will be living their life childfree, Dr. Jay’s work is filling a gap in the financial information industry. If you or someone you care about is walking down this path, be sure to order “ The Childfree Guide to Life and Money ” today! Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: “ The Childfree Guide to Life and Money ” – Dr. Jay Zigmont “ Portraits of Childfree Wealth ” – Dr. Jay Zigmont Childfreewealth.com LinkedIn – Dr. Jay Zigmont Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
Author and podcaster Dr. Jordan Grumet explores how to create your purpose instead of waiting for it to find you. You’ve heard plenty of people wax poetic about seeking their purpose, but my guest on this week’s episode of Retirement Revealed suggests a different approach. With his new book “ The Purpose Code ” set to release, Dr. Jordan Grumet (Doc G) explains the difference between your “Purpose” and your “purpose” and why you don’t need to find them in order to have them. The Myth of “Finding” Your Purpose Many of us spend our lives searching for that elusive “one true purpose.” We believe there’s some grand, pre-ordained destiny waiting to be discovered. But Doc G challenges this notion. He emphasizes that purpose is an active process, not a passive discovery. It’s about intentionally shaping your life around activities that bring you joy and fulfillment. Little “p” Purpose vs. Big “P” Purpose In “The Purpose Code”, Doc G breaks down the idea of purpose into two separate categories: Big “P” Purpose: This is the audacious, goal-oriented kind. Think becoming a billionaire, curing cancer, or conquering Mount Everest. While these goals can be inspiring, they often come with immense pressure and the risk of disappointment if they aren’t achieved. Little “p” Purpose: This is about finding joy in the process itself. It’s about identifying activities you genuinely enjoy, regardless of the outcome. It’s about savoring the journey, not just the destination. Doc G argues that focusing on little “p” purpose leads to greater happiness, fulfillment, and a more meaningful life. It’s about finding joy in the everyday – in the act of creating, learning, and connecting with others. The Power of Life Review Doc G utilizes a very interesting exercise geared towards reflecting on the efficacy of your life: the life review. By reflecting on past experiences – both triumphs and disappointments – we can gain valuable insights into what truly matters to us. Asking ourselves questions like “What were my biggest achievements?” and “What are my biggest regrets?” can help us identify our core values and passions. Generational Growth One of the most profound concepts Doc G discussed is the idea of “generational growth.” Just as trauma can be passed down through generations, so too can positive behaviors and a sense of purpose. When we live a life of purpose, we not only impact our own lives but also inspire those around us. Our children, our friends, and even strangers can be positively influenced by our example. My Own Journey with “purpose” Talking with Doc G, I spent some time reflecting on how to apply these principles of Purpose/purpose to my own story. I became interested in finance at a relatively young age after a mundane interaction with a bank teller at the age of 12. This seemingly insignificant encounter sparked a curiosity that ultimately led me to a career in financial advising. The Importance of Intentionality Doc G emphasizes the importance of intentionality. It’s not enough to simply wait for purpose to find us. We must actively seek out experiences, explore our interests, and cultivate meaningful connections. By embracing a life of little “p” purpose, we not only find fulfillment for ourselves but also contribute to a ripple effect of positive change in the world. This conversation with Dr. Jordan Grumet was a profound reminder that purpose is not a destination but a journey. It’s about embracing the present moment, finding joy in the process, and creating a life that is both meaningful and fulfilling. We all want to live a meaningful life regardless of what stage we’re in, but if we want to build a lasting legacy, Doc G reminds us that how we enjoy our day-to-day mission will likely make a bigger impact than the work we actually do with our time. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: “ The Purpose Code ” – Dr. Jordan Grumet “ Taking Stock ” – Dr. Jordan Grumet Earn & Invest Podcast – Dr. Jordan Grumet Coaching The Earn & Invest Podcast – YouTube LinkedIn – Dr. Jordan Grumet Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
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Retirement Revealed
Author and estate planning expert Mark Shiller shares how to leave wealth to your kids and prepare them for success Is there a sweet spot in leaving wealth to the next generation? In this week’s episode of Retirement Revealed I had the pleasure of speaking with Mark Shiller, a lawyer, author and estate planning expert with nearly 30 years of experience. Let’s dive into some of the key takeaways and strategies Mark shared and how you can utilize them to leave a legacy you can be proud of. What’s the Real Goal of an Estate Plan? When most people think about estate planning, their minds immediately jump to documents: wills, trusts, and so on. But as Mark emphasized, estate planning isn’t just about signing paperwork. It’s about the legacy you’re leaving and the impact your wealth will have on your children, grandchildren, and beyond. Mark shared a profound metaphor from his book: “The purpose of apple trees isn’t just to make apples; it’s to grow more apple trees.” In the same way, your goal as a parent or grandparent isn’t merely to provide money but to nurture strong, independent individuals who can carry forward your values and create their own legacies. Avoiding the Danger Zone One of the standout moments in our discussion was Mark’s concept of the “danger zone.” This refers to a critical period in a person’s life, often between their late teens and early 30s, when they’re still figuring out who they are, establishing careers, and forming relationships. It’s during this stage that an inheritance—especially a large one—can be most destabilizing. Think about it: if a 19-year-old receives $500,000, the odds of that money being used wisely are slim. But that same amount handed to a 73-year-old is far less likely to create problems. Why? Because maturity, life experience, and financial responsibility take time to develop. As parents, we often wrestle with wanting to provide for our children but also fearing that too much too soon could harm them. Mark pointed out that it’s crucial to leave room for growth and “the good” when designing your estate plan. Your kids might struggle at 23, but they could thrive at 33. Your plan needs to account for that growth. Raising Adults, Not Children Another valuable takeaway was the reminder that we’re not raising children—we’re raising future adults. Mark and his wife embraced this mindset as they parented their now-grown kids. By gradually giving your children responsibility, you’re helping them build the skills they’ll need to navigate adulthood successfully. Mark stressed the importance of modeling healthy behaviors around wealth. Your children learn from how you manage money, talk about it, and integrate it into your life. If you’re consumed by anxiety over finances or overly controlling, that attitude can spill over into your kids’ financial lives. Conversely, demonstrating a balanced approach helps instill confidence and independence. The Warren Buffett Rule Mark also shared Warren Buffett’s famous quote about inheritance: ‘Leave your kids so much that they feel they can do anything, but not so much that they can do nothing.’ It’s a powerful reminder to strike a balance. Too little support might leave your kids struggling, while too much could rob them of the drive to achieve their own goals. It’s also worth reflecting on what your relationship with wealth says about you. Are you holding on to your assets too tightly out of fear? Or are you using your resources to foster growth and opportunity for the next generation? Flexibility and Communication Estate plans shouldn’t be rigid. Mark noted that many families default to standard structures like releasing inheritances in installments at ages 25, 30, and 35. While this approach is common, it’s not always effective. Life circumstances can change, and what seems appropriate at one point might not suit the future. Open communication is key. Talk to your family about your plans, values, and expectations. Addressing potential conflicts—like naming one sibling as a trustee over another’s inheritance—can save years of heartache and strained relationships. As Mark wisely advised, “Don’t make all your decisions based on fear. Leave room for the good.” Building a Lasting Legacy At its core, estate planning is about creating a legacy that extends beyond money. It’s about fostering independence, instilling values, and setting your family up for long-term success. By thinking carefully about the timing, structure, and intentions behind your estate plan, you can help ensure your wealth supports rather than hinders your loved ones. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: www.markshiller.com Certus Legal Group – Mark Shiller “ How to Not Ruin Your Kids With Money ” by Mark Shiller “ Little Book of Estate Planning ” by Mark Shiller “ The Cost of Avoiding Conversations: How Estate Planning Can Save Your Family Heartache ” – Retirement Revealed Episode 220, David Edey Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
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Retirement Revealed
1 The Cost of Avoiding Conversations: How Estate Planning Can Save Your Family Heartache 32:52
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32:52Author and executor advisor David Edey shares how to prepare your estate and your executor to leave a legacy behind instead of a mess. Nobody likes a messy house. When your journey in this life ends and you’ve left your estate to your executor, wouldn’t you rather leave a lasting legacy instead of an acute headache? Today, I’m thrilled to share insights from my conversation with author and executor advisor David Edey, whose personal journey of navigating his parents’ estate taught him invaluable lessons that every family should know—lessons that can help you avoid years of heartache and legal battles. A Personal Story of Family and Estate Challenges David’s parents passed away within a year of each other, leaving behind a will. Yet, their estate still took seven years, ten court appearances, and $50,000 in legal fees to settle. Why? The family lacked open conversations about the estate’s details and decisions. The result was disputes among siblings that fractured the family forever. David’s experience is far too common. Even families that appear harmonious can find themselves at odds when it comes to inheritance. Often, the sentiment that “equal isn’t fair” surfaces, leading to prolonged disputes and strained relationships. The key takeaway? Clear communication and proper preparation are essential. The Importance of Open Communication Many families avoid talking about estate planning, assuming their loved ones will figure things out. Unfortunately, this lack of communication often leads to misunderstandings and conflict. David emphasized that parents should: Have open conversations with all beneficiaries. Explain how the estate will be divided and the rationale behind those decisions. Clarify the role of the executor. Discuss who is best suited for the role based on their organizational skills, proximity, and ability to lead—not just based on tradition or birth order. Prepare executors for their responsibilities. Being an executor involves managing legal, financial, and emotional challenges. The better prepared they are, the smoother the process will be. Steps to Avoid Family Fights David shared actionable advice that everyone can use to ensure their estate planning minimizes disputes: Create and Update Your Will: Shockingly, 152 million Americans and 15 million Canadians don’t have a will. A will is the foundation of your estate plan. Without it, courts decide how your assets are distributed. Choose the Right Executor: Selecting an executor isn’t just about following tradition. Consider their ability to manage tasks, proximity to key resources, and interpersonal skills. If needed, explain your choice to family members to avoid misunderstandings. Hold Family Meetings: Regular discussions about estate plans help align expectations and reduce surprises. Transparency is key to avoiding disputes. Plan for Digital Assets: From online banking to social media accounts, our digital lives are extensive. Keep a list of login credentials and passwords so your executor can manage these assets effectively. Coordinate Beneficiary Forms with Your Will: Many assets—like retirement accounts and life insurance policies—are distributed based on beneficiary designations, not your will. Ensure these forms are updated and consistent with your estate plan. Executors: Doing the Heavy Lifting The role of an executor is no small task. Many executors spend 100 hours over 18 to 24 months settling an estate. They’re responsible for: Paying off debts and taxes. Managing beneficiary expectations. Collaborating with professionals like lawyers, accountants, and financial advisors. David advises executors to communicate regularly with beneficiaries, even if it’s just a brief update. Silence can breed suspicion, and suspicion can lead to legal challenges. Avoiding Common Mistakes David and I discussed several pitfalls to avoid: Ignoring Digital Assets: Your executor needs access to your online accounts to manage ongoing payments and prevent financial disruptions. Overlooking Beneficiary Coordination: If your IRA beneficiary designation conflicts with your will, it could lead to disputes. Always ensure consistency. Assuming Executors Work for Free: Executors are entitled to reasonable compensation for their time and effort. Clarify this in your will to avoid confusion. Leaving a Legacy, Not a Mess David’s mantra resonates deeply: “Your legacy isn’t what you leave to people; it’s how you leave them.” By organizing your estate plan, communicating openly, and preparing your executor, you can leave behind a legacy of love and unity—not one of conflict and chaos. Next Steps To help you get started, David offers resources like a Legacy Readiness Quiz and answers to common executor questions. Taking proactive steps today can save your family years of stress tomorrow. Visit David’s website for tools to begin your estate planning journey. Remember, estate planning isn’t just about transferring wealth. It’s about preserving relationships and ensuring your family thrives long after you’re gone. Let’s work together to make your legacy a blessing, not a burden. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: The Retirement Readiness Quiz – davidedey.com David Edey website LinkedIn – David Edey Executor Help Podcast – David Edey “ Executor Help: How to Settle an Estate, Pick an Executor and Avoid Family Fights ” – David Edey 5 Things to Do When Handling an Estate – Retirement Revealed Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
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Retirement Revealed
Learn how to build a fulfilling retirement by utilizing a growth mindset – with Wendy Leggett Retirement is often viewed as a finish line—a destination we’ve been racing toward for decades. But what if I told you it’s not just about arriving? I recently had the pleasure of speaking with Wendy Leggett, who shared transformative insights into embracing retirement with intention, purpose, and a growth mindset. Defining a Successful Retirement Many people feel pressure in retirement as they compare their career-life to their retirement. The driver behind this discontent often comes down to the answer to this question: What does a successful retirement mean to you? Wendy believes it’s about living a life of giving, learning, and feeling that each day matters. This perspective highlights an important truth: success in retirement is deeply personal. It’s not about conforming to societal expectations of endless leisure or viewing retirement as a period of decline. Instead, it’s about crafting a vision that aligns with your values and aspirations. Many retirees struggle because they don’t have this vision. Wendy emphasizes that we must take ownership of our post-career life, becoming the “CEO of ourselves.” By defining what we want retirement to look like, we create a life by design, not default. The Fear of Failing at Retirement One of Wendy’s coaching clients asked, What if I fail at retirement? It’s a poignant question and one that many of us quietly wonder about. Wendy’s response invites us to redefine failure and success in retirement. Success isn’t necessarily about ticking off achievements—it’s about living authentically, with purpose and joy. When retirees feel like they’re failing, it’s often because they’re stuck in a corporate mindset, measuring success by productivity rather than fulfillment. Wendy advises shifting the focus from “filling your time” to “fulfilling your time.” Instead of busying ourselves with endless activities, we should pursue what truly resonates with us. The Challenge of Time Abundance Retirement comes with a newfound abundance of time, which can be both liberating and daunting. Without the structure of work, some retirees feel unmoored, as one of Wendy’s clients experienced. She filled her days with activities but found them unfulfilling. This is a common trap: staying busy without addressing the deeper need for purpose. Wendy’s solution? Prioritize activities that feel meaningful and satisfying. She reminds us that our time is precious, and living with intention helps us make the most of it. Embracing a Growth Mindset in Retirement Retirement can stir up emotions that many of us aren’t prepared to face, including grief, anxiety, and a sense of loss. Wendy compares the emotional transition into retirement to the process of grief, as we leave behind the identity and structure tied to our careers. It’s essential to normalize these feelings rather than suppress them. Wendy suggests using frameworks from positive psychology and cultivating a growth mindset to navigate this transition. By focusing on what’s possible rather than what’s lost, retirees can shift from a scarcity mindset to one of abundance and opportunity. Practical Steps for a “No-Regrets” Retirement So, how can you start creating a fulfilling retirement? Wendy shared her three-step framework: Awareness : Begin by defining your vision for retirement. Reflect on what matters most to you and identify what you want to carry forward from your working life—and what you want to leave behind. Intention : Be deliberate about aligning your time and energy with your values. Consider what feels purposeful and meaningful, and avoid overcommitting to activities that don’t resonate with you. Movement : Take action, but start small. Experiment with new hobbies, volunteering opportunities, or social groups before fully committing. This allows you to explore without feeling trapped. The Power of Small “P” Purpose One of my favorite takeaways from our conversation was Wendy’s perspective on purpose. Many people stress about finding a grand, overarching purpose in retirement—a “big P” purpose. But as Dr. Jordan Grumet explains, joy often lies in the “small P” purpose: the everyday acts of helping others, pursuing fulfilling activities, and finding joy in the present moment. Purpose doesn’t have to be monumental. Retirement isn’t about solving the puzzle of purpose in one grand gesture; it’s about creating a mosaic of small, meaningful moments. Building a Runway to Retirement Wendy also advocates for a gradual transition into retirement. Just as you wouldn’t dive off a cliff without preparation, it’s wise to approach retirement as a runway. Start building habits and routines that align with your retirement vision while still working. Whether it’s exercising more, exploring hobbies, or fostering social connections, these small steps can make the transition smoother and less jarring. Final Thoughts Retirement is not just an end—it’s a beginning. By approaching it with intention, purpose, and a willingness to grow, you can create a fulfilling life that aligns with your values. Wendy’s insights remind us that the key to a successful retirement lies not just in financial planning but in preparing your mind and heart for this new chapter. If you’re feeling unsure about how to design your retirement, start small. Reflect on what matters most to you, take intentional steps toward those goals, and give yourself the grace to explore and grow. As Wendy says, retirement isn’t about doing it perfectly—it’s about doing it authentically. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: LinkedIn – Wendy Leggett Conflux Retirement Coaching – Wendy Leggett “ How to Live a Purposeful & Regret-Free Life ” – Retirement Revealed Episode 171 with Dr. Jordan Grumet Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
Learn how to tap into the soul of wealth to build a life that breeds happiness and purpose with Dr. Daniel Crosby. When we think about money, the first thoughts that come to mind often revolve around numbers: savings accounts, investments, and expenses. But as I recently discussed with Dr. Daniel Crosby on the Retirement Revealed podcast, money is about so much more than just numbers. Dr. Crosby’s new book, The Soul of Wealth , explores the deeper meaning behind our financial decisions and how our relationship with money can lead to greater fulfillment. The Warm Glow of Giving One of the most fascinating studies Dr. Crosby cited in his book revealed that people derive more joy from giving away $5 than spending $20 on themselves. Why? Because giving fulfills a deep human need for connection and altruism. Interestingly, the study found that giving is most rewarding when it “costs” something—when it requires a sacrifice. This aligns with the idea that generosity isn’t about convenience; it’s about meaningful impact. As Dr. Crosby said, “Maybe we need to give until we have to think twice about it.” The Utility—and Limits—of Money One of my favorite analogies from Dr. Crosby’s book is: “A hammer is useless when painting a room.” Money, like a tool, is incredibly powerful when used for the right purpose, but it’s not a cure-all. Dr. Crosby explained that money is excellent for solving material problems—paying bills, securing shelter, and covering basic needs—but it can’t buy intangible things like love, purpose, or fulfillment. Instead, money is best used to create opportunities for growth and connection. For example, spending money to save time—like hiring someone to do tasks you dislike—can increase happiness. Similarly, using money to foster relationships, such as planning a family vacation or joining a community group, leads to lasting joy. The Trap of Comparison One of the most insightful parts of our conversation was about the dangers of comparison. Dr. Crosby shared a poignant story about Vincent van Gogh, who struggled with feelings of inadequacy compared to fellow artist Paul Gauguin. Despite his artistic genius, van Gogh’s obsession with comparison contributed to his mental anguish. In the financial realm, comparison can be just as damaging. Studies show that financial contentment depends not only on how much money you have but also on whom you compare yourself to. By choosing environments and social circles that align with your values—rather than those that encourage constant upward comparison—you can cultivate greater peace and satisfaction. Your Money Needs a ‘Why’ Perhaps the most powerful takeaway from The Soul of Wealth is the importance of aligning your money with your values. Dr. Crosby referenced Viktor Frankl’s famous quote: “He who has a why to live can bear with almost any how.” This idea applies to money, too. When your financial goals are tied to a deeper purpose, you’re more likely to stick with them—even during tough times. For example, labeling your accounts with specific goals—like “Dream Retirement Fund” instead of “Savings Account”—can increase motivation and improve decision-making. Dr. Crosby highlighted studies showing that people with purpose-driven accounts save more, spend less impulsively, and stay committed to their plans. Turning Lessons into Action As I wrapped up my conversation with Dr. Crosby, one thing became abundantly clear: meaning transforms money. By aligning our financial decisions with our values and focusing on connection, purpose, and generosity, we can unlock the true potential of our wealth. If you’re wondering where to start, try these steps: Label your savings with specific goals. Personalizing your accounts can make your financial journey more tangible and inspiring. Give meaningfully. Whether it’s donating to a cause you care about or helping a friend in need, giving is one of the most fulfilling uses of money. Focus on your “why.” Align your spending and saving habits with the life you want to build. As Dr. Crosby beautifully put it, “If you add meaning to your money, you’ll make better financial decisions.” And if you learn more about your money, you’ll feel better about it, too. Here’s to finding the soul of your wealth. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: “ The Soul of Wealth ” by Dr. Daniel Crosby Behavioral Finance Reading List – Curated by Daniel Crosby “ Standard Deviations ” podcast, hosted by Daniel Crosby Daniel Crosby – x.com Daniel Crosby – LinkedIn Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
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Retirement Revealed
Discover your purpose outside of your occupation and live your best life yet in retirement. How do you come out of your career into a retirement that fulfills all of your dreams and expectations? My guest on this week’s episode of “Retirement Revealed” is Kevin Lyles, a retired corporate attorney who took a hands-on approach to realizing his retirement dreams. After retiring at the age of 55, Kevin has found a calling in guiding others on their retirement journey. Let me break down our conversation and explain Kevin’s 3 essential steps to navigating retirement. The Importance of Planning Beyond Finances When you’re in your working years, it’s easy to get wrapped up in finances as the primary focus of retirement planning. Kevin’s experience was no different; he initially concentrated on the financial aspects, making sure he had enough saved up and all the numbers lined up for a secure future. But as he soon discovered, retirement is about more than just financial readiness—it’s about who you’ll be and what purpose you’ll serve in this new phase of life. This is something I stress in my own practice as well. Financial security is the foundation, but it’s only part of the picture. The real excitement of retirement comes from the chance to explore new identities, roles, and interests. However, a big challenge for many, especially those who identify closely with their careers, is letting go of their professional identity. Crafting Your New Identity in Retirement The key to embracing retirement is to recognize that it’s an opportunity for a fresh start. Kevin shared three essential tips for discovering who you are in retirement: Focus on your unique gifts Take a moment to reflect on what makes you unique, what you’ve enjoyed in life, and what qualities others admire in you. Kevin emphasized the importance of allowing certain aspects of yourself, which may have been sidelined during your career, to resurface. For instance, he’s always had a sense of humor that he couldn’t fully express in his role as a corporate lawyer. In retirement, he’s embraced this side of himself more openly. Decide on your primary purpose in retirement Just because you’re done working doesn’t mean you’re done contributing. Retirement allows you to choose what impact you want to make. For Kevin, this purpose became helping other retirees as a coach and member of the Rock Retirement Club, a virtual club that offers resources and community support for retirees. Whether your purpose involves volunteering, pursuing hobbies, or spending time with family, having a goal that excites you will make retirement all the more fulfilling. Find ways to use your gifts to fulfill your purpose Once you know who you are and what you want to do, the next step is finding ways to bring that purpose to life . Kevin highlighted the importance of continuing to use the skills you’ve built over the years—whether those are professional skills, interpersonal abilities, or even the little things that make you who you are. In Kevin’s case, he combined his experience in counseling and public speaking with his newfound mission in retirement coaching. Making the Most of Financial Freedom One of the great parts about retirement is the freedom you gain, both in time and resources. Yet many retirees struggle to switch from saver mode to spending mode. Kevin told me about a couple he worked with in the Rock Retirement Club who booked first-class tickets for the first time, a luxury they’d never considered before. They were thrilled to experience something new, and Kevin helped them realize that spending in retirement can be about creating joyful experiences and lasting memories. This is a recurring theme for my clients as well. Often, they’ve been such disciplined savers throughout their careers that they feel uneasy about spending in retirement, even when they have the means to do so. But as Kevin said, “Money is just a tool.” In retirement, it’s there to support the life you want, so give yourself permission to enjoy it! Handling New Dynamics with Family and Loved Ones Retirement also brings unique dynamics in relationships, particularly with family. Kevin shared a thoughtful insight about how he and his wife enjoy taking their adult children and grandchildren on vacations, investing in experiences rather than leaving behind a big inheritance. But he noted it’s important to ensure this doesn’t create expectations, a challenge some retirees face when family members begin to expect financial support or extravagant trips regularly. Open communication is crucial here. Talk to your family about your plans and set boundaries where necessary. Kevin suggested bringing family members into conversations about your financial goals and limits. Not only does this foster understanding, but it also prepares younger generations to make their own financial decisions. Embracing the Freedom to Reinvent One of Kevin’s points that resonated with me was the freedom retirees have to explore new lifestyles. You’re no longer tethered to a specific location for work, and you have the flexibility to experiment with where you live and how you spend your days. Many retirees continue living as they always have, but those who take advantage of this freedom often find greater satisfaction in retirement. This freedom doesn’t mean you’re making permanent choices; instead, it’s about the chance to try new things. Kevin advises retirees to approach this period with an open mind. Move to a new city if it appeals to you, or spend a few months in a place you’ve always wanted to live. Remember, the decisions you make in retirement don’t have to be set in stone; you can change and adapt as you go. A Fulfilling Retirement Retirement is a major life transition, and just like other transitions in life, it involves a period of adjustment. Kevin’s journey and insights remind us that retirement is not the end, but rather a new beginning. It’s a time to explore who you are, decide on a purpose, and make the most of the freedom you’ve earned. So, as you plan for retirement, don’t just focus on the numbers. Ask yourself what kind of life you want to lead, what legacy you want to leave, and how you want to feel each morning when you wake up. Embrace this chapter with intention, and remember: retirement is your time to discover the new you. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: Rock Retirement Club Kevin Lyles – LinkedIn Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
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Retirement Revealed
Take advantage of the power of your time in retirement with these mindset re-directs from retirement coach and author David Buck. People often expect that it’s going to be the greatest feeling in the world to have all this free time on their hands when they retire. My guest on this week’s episode of “Retirement Revealed” has seen the numbers and heard the stories–aimless time isn’t the release-on-life many people imagined it would be in retirement. David Buck, author and retirement coach, has committed his second act to helping teach people how to craft a meaningful retirement by rethinking their relationship with time. I’m all about helping you turn your savings into sustainable retirement income, but let’s also consider how to fill your days with purpose and fulfillment. David’s story and insights offer a thoughtful guide for anyone preparing for this big life change. The Awakening: What Will You Do With 40% More Time? David ran the numbers and concluded that the average executive or high-level employee spends around 48 hours a week working, which is a significant portion of their “awake time.” When you suddenly remove that structure, you gain about 40% more time that you need to actively fill. David shared that, although he was prepared financially for retirement, he hadn’t initially considered what he would do with all his newfound free time. After years of defining himself by his work and accomplishments, the question became, “What’s next?” It was during a routine meeting with his financial advisor that his wife brought up the question of early retirement. When his advisor laid out the path to an earlier retirement than he was planning for, the question sent David on a personal journey of discovery. For the first time, he started seriously pondering what he would do with all the additional hours his week would suddenly have. The Importance of Aligning Financial and Lifestyle Strategies Like many of us, David initially focused on a financial strategy, saving early and often to build a solid retirement foundation. Yet, the missing piece was a lifestyle strategy. Once he realized that a financial plan was only half the puzzle, he began to design a retirement that combined his financial capabilities with his personal goals and values. This approach allows for the freedom to enjoy retirement without feeling bound by either time constraints or financial concerns. David encourages everyone to take a “lean budget” approach as a foundation—a budget that covers both essential needs and a reasonable amount of comfort. Then, consider what else you want out of life. When you combine a realistic financial plan with a lifestyle plan, you create a retirement strategy that is sustainable and fulfilling. Building a Lifestyle Plan: David’s Retirement Time Analysis To help others avoid the pitfalls he encountered, David developed the Retirement Time Analysis . This self-assessment tool covers six key areas of life, from career mindset to personal goals, to help retirees structure their time and find meaning outside of work. When we’re working, much of our day is filled by work responsibilities, commuting, and meetings. In retirement, without a plan, that time becomes a void that needs to be purposefully filled. David’s process helps retirees analyze their strengths and identify areas for growth so they can step into retirement with a sense of purpose. Many retirees, David explained, struggle with what he calls a “value vacuum”—a sense of emptiness when they no longer have work to define their day. The Retirement Time Analysis is a way to fill that vacuum by creating new structure and intentionality in your life. Flexibility Over Balance The concept of work-life balance is frequently mentioned during one’s career, but David prefers the idea of flexibility over balance, especially as you transition into retirement. “Balance,” he says, implies a strict, 50-50 split between work and personal life, which isn’t always realistic. Flexibility, however, allows for an adaptable approach, where you can shift time and energy as life demands. A few years ago, David experienced this need for flexibility firsthand when he spent a significant amount of time caring for his aging mother. During that period, he still wanted to work, but he needed the flexibility to adjust his schedule. Flexibility, David argues, is what enables retirees to enjoy the best of both worlds: continuing to contribute to projects that give them meaning while also spending quality time with family and friends. Embracing Semi-Retirement and Living by Example David embraced what he calls a “semi-retirement” lifestyle. He created a mobile, cloud-based business that allows him to work from anywhere, on his own terms. This setup not only provides him with the professional satisfaction he craves but also lets him pursue personal interests and travel to visit family. Semi-retirement offers the perfect middle ground for those who still want to stay engaged but also crave the freedom to explore new pursuits. Interestingly, David lives in a 55-plus community, which he likens to a “retirement laboratory.” Being around other retirees, he has the opportunity to observe what works well and what doesn’t in other people’s retirement journeys. It’s also shown him the value of staying socially and physically active—though, as he humorously points out, he hasn’t yet joined the “pickleball cult” that seems to captivate many retirees! Finding the Right Financial Advisor for a Holistic Retirement Strategy David and I also discussed the importance of working with a financial advisor who understands the “lifestyle” aspect of retirement planning. Financial stability is crucial, but a great advisor should go beyond the numbers, asking meaningful questions and respecting your individual goals. David sought an advisor who was willing to provide scenarios and help him strategize, rather than just managing investments. His goal was to feel empowered, not restricted by his financial plan. David’s experience and encouragement resonated with the stories I’ve heard in my years as a financial advisor. For him, finding a financial advisor that he trusted and developing a plan that made sense for his current and future life freed him up to find meaning in purpose beyond finances. As he noted, you want an advisor who sees you as more than just a portfolio and who can support your vision for a fulfilling retirement. The transition to retirement is an incredible opportunity to redefine how you spend your time and live with purpose. Whether you’re ready to embrace a semi-retirement like David or plan to “cold turkey” retire from work altogether, take the time to envision a life that is financially feasible and deeply fulfilling. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: “ The Time-Optimized Life: Moving Everyday Preparation, Execution and Control from Finite to Infinite ” by David Buck Infinity Lifestyle Designs – David Buck David Buck on LinkedIn Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: Content Results and figures presented within the above links are hypothetical, unaudited and are intended for illustrative purposes only. Liability Keil Financial Partners assumes no liability or responsibility for any errors, omissions, or other issues with the links and their respective contents. This includes both the website content and any potential bugs, viruses or other technical threats. No Tax Advice Keil Financial Partners does not provide any tax advice. No information or results from the links should be interpreted as tax advice. Please seek guidance from a qualified tax professional for any and all tax-related matters. No Investment Advice The content and information provided through the links should not be interpreted as being investment advice or a recommendation of suitability for any particular security, portfolio of securities, transaction, or investment strategy, or related decision. Please seek assistance from a qualified investment professional for any and all investment matters. Investment Risk Investments may increase or decrease significantly. All investments are subject to risk of loss. General Disclosure Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Keil Financial Partners and Thrivent Advisor Network, LLC are not affiliated companies. Please visit our website www.keilfp.com for important disclosures.…
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Understanding how the results of the 2024 election could affect your decisions in retirement. It's natural to wonder if political shifts will impact your financial decisions. Many are predicting major changes in legislation and economic strategy due to the results of the 2024 election, and while there is merit in anticipating major changes, I find that there are some general principles of managing your retirement plan that can help you navigate the uncertainties that come with changing winds of politics. With that said, let’s dive into some of the most common questions I’ve been hearing related to finances out of the 2024 election. Why Elections Don’t Change Core Investment Principles Each election season, it's easy to get swept up in the latest political shifts. Maybe the stock market reacts positively or negatively, but does that mean you should make knee-jerk changes to your portfolio? Not necessarily. I often say this on my podcast and to my clients: the key to investment success isn’t trying to predict market swings based on elections or political figures—it’s about aligning your portfolio with your needs and timeframe. Consider this: if you’re looking to use your funds in the short term, your investments should reflect that, emphasizing stability over volatility. Long-term needs, on the other hand, can typically tolerate a bit more fluctuation because they have more time to recover from market swings. Elections, presidents, and political shifts come and go, but your personal timeline and financial goals remain constant. The Fed, Interest Rates, and Presidential Influence I often get asked how presidential elections and Federal Reserve decisions might interact and affect the economy. In the latest example, we saw the Fed drop interest rates recently, coinciding with the election. People wonder if this shift is tied to who holds office, but in reality, the Federal Reserve operates independently. Fed Chair Powell, for instance, has firmly asserted the Fed’s independence from political influence. The Fed's mission is to focus on economic stability and not to sway with each political wind. What does this mean for you as an investor? It reinforces the idea that you shouldn’t base your decisions on political shifts. Whether a president wants to cut taxes or pursue particular economic policies, your portfolio’s health is still more dependent on your timeline and objectives. Social Security: Will It Be There for You? Social Security will likely go under the microscope in the next few years, particularly in relation to the taxation of benefits. Recent conversations have raised concerns about potential changes to Social Security taxes, especially with the suggestion that taxes could be lowered or even eliminated on benefits. While lower taxes sound appealing at first, they come with trade-offs. If taxes on Social Security benefits were reduced to zero, for example, that would cut about $50 billion annually from the Social Security trust fund—a significant portion of its funding. If Social Security taxes decrease, it could mean fewer funds for future benefits, impacting the program’s sustainability. While no one can predict the future, the key takeaway here is that while tax reductions may have personal appeal, it’s essential to think about the policy implications. Should You Be Doing a Roth Conversion Now? With the election results, many people are wondering if they should speed up their plans to convert to a Roth IRA. Historically low tax rates, thanks to recent policy changes, have made Roth conversions attractive. However, if recent election results signal that the current administration may extend these lower rates, the urgency to convert may diminish. Still, a Roth conversion can provide substantial benefits if it aligns with your tax strategy. For many retirees, spreading out Roth conversions over multiple years can minimize tax impact. But remember—financial planning software and ta...…
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1 Retiring Next Year? Do THIS With Your Retirement Savings! 16:02
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16:025 Steps to prepare your savings within 12 months of your retirement.
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1 Widows Rising Together: Turning Grief into Goals with Lynn Banis 23:30
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23:30Learn how to turn your grief into goals in order to make the most of your next chapter in life.
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Learn how to master Medicare and get the coverage you need at the best rate available.
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Melinda Caughill shares the secrets of Medicare enrollment in 2024, what to avoid and how to pick the right coverage. As Medicare Open Enrollment begins, the importance of understanding Medicare and making the right decisions during the enrollment period cannot be overstated. For this week’s episode of “Retirement Revealed” I sat down with Melinda Caughill, co-founder of 65 Incorporated, to discuss her playbook for Medicare in 2024. This open enrollment period is particularly crucial due to significant changes that will affect all Medicare enrollees. Here’s what you need to know to navigate these waters wisely. The Complexity of Medicare Choices Medicare decisions are not as straightforward as picking a plan. Many people mistakenly believe it’s a simple choice between Medicare Advantage and a Medigap supplement. However, the decision path involves understanding whether to stick with Original Medicare or shift to private, corporate-run Medicare options. Each choice comes with its own set of advantages and challenges. Original Medicare vs. Medicare Advantage Original Medicare: Under this path, the government serves as your healthcare provider, offering substantial coverage with reliable benefits. You add a Medigap policy to cover costs that Medicare doesn’t, and a Part D plan for prescription drugs. This provides predictable out-of-pocket costs but comes with monthly premiums. Medicare Advantage: This option, managed by private insurers, often advertises zero-dollar premiums and numerous perks such as dental and vision coverage. However, these plans require adherence to strict networks and prior authorization for services, creating potential hurdles in accessing care when you need it most. Timing Is Everything Understanding the right time to enroll or delay enrollment in Medicare is critical. For many, this means determining the best time based on current employment status or other personal circumstances. Each individual's situation requires a unique approach to avoid penalties and ensure adequate coverage. The Looming Impact of the Inflation Reduction Act The Inflation Reduction Act introduces a $2,000 out-of-pocket maximum for Part D drug costs, which initially sounds like a positive change. However, as part of the cost-shifting measures, private insurers may increase premiums significantly or change what drugs are covered to offset their increased financial burden. This change, effective in 2025, starts impacting decision-making now. It underscores the necessity of reviewing your current drug plans during the upcoming open enrollment. Choosing the Right Path When faced with a decision of which Medicare path to choose, it’s critical to think long-term. While Medicare Advantage plans are enticing with their low upfront costs, the rigidity and potential high costs of care down the line need to be carefully considered. Original Medicare generally offers broader access to providers and clearer costs. Avoiding Medicare Pitfalls One of the biggest traps that enrollees fall into is relying on Medicare insurance salespeople without understanding potential conflicts of interest. Sales agents earn commissions based on sales from limited portfolios, which doesn’t always align with what’s best for you. Seek independent guidance to navigate your options without bias. Tips for 2024 and Beyond Review Annually: Each year, from October 15th to December 7th, use the Medicare open enrollment period to reassess your Part D drug plan options and any Advantage plan changes. Plan Ahead: Stay informed about changes in Medicare that could impact costs, coverage, and your healthcare decisions. Seek Expert Advice: Use services like 65 Incorporated to ensure you’re making informed choices, especially if you’re approaching Medicare eligibility. Stay Informed on Policy Changes: The ramifications of the Inflation Reduction Act highlight a shifting landscape.…
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