1
00:00:12,480 --> 00:00:14,880
Speaker 1: It is coming to us.

2
00:00:20,520 --> 00:00:23,840
Speaker 2: Ladies and gentlemen, Welcome to Safe Money Strategies on WRKO.

3
00:00:24,280 --> 00:00:26,640
Speaker 2: I'm William Kelly and it's an honor to carry on

4
00:00:26,680 --> 00:00:30,520
Speaker 2: a family legacy rooted in real world values and practical advice.

5
00:00:31,240 --> 00:00:33,680
Speaker 2: Kelly Financial was founded in two thousand and three by

6
00:00:33,720 --> 00:00:36,240
Speaker 2: my parents, my late father Bill Kelly and my mother

7
00:00:36,400 --> 00:00:41,120
Speaker 2: Kelly Kelly in Braintree and Burlington, Massachusetts. Just two years later,

8
00:00:41,240 --> 00:00:44,320
Speaker 2: Dad launched Safe Money Strategies on WRKO as a no

9
00:00:44,320 --> 00:00:48,000
Speaker 2: nonsense callin radio show focused on common sense planning and

10
00:00:48,080 --> 00:00:51,680
Speaker 2: protecting wealth. Over the past two decades, Dad became a

11
00:00:51,720 --> 00:00:55,360
Speaker 2: pillar in New England finance, an engineer turned entrepreneur, author

12
00:00:55,520 --> 00:00:58,800
Speaker 2: and philanthropist who believed in giving back and walking the talk.

13
00:00:59,200 --> 00:01:03,280
Speaker 2: Since our show has remained a Saturday morning staple, offering

14
00:01:03,360 --> 00:01:07,240
Speaker 2: insight and empowerment. Here at Kelly Financial, we help stewart

15
00:01:07,280 --> 00:01:11,319
Speaker 2: over eight hundred million dollars across our affiliated business, including

16
00:01:11,360 --> 00:01:14,199
Speaker 2: more than six hundred million dollars managed by our SEC

17
00:01:14,400 --> 00:01:18,360
Speaker 2: registered investment advisory, Where fiduciary care and our family first

18
00:01:18,360 --> 00:01:22,400
Speaker 2: philosophy guides us on safe money strategies. You'll hear candid

19
00:01:22,400 --> 00:01:27,280
Speaker 2: conversations with the team my mother Kelly, myself, advisors Charlie Gable,

20
00:01:27,520 --> 00:01:31,800
Speaker 2: Mike Ducett, Greg Workman, Greg Murray, my sister Mary Madeline,

21
00:01:31,840 --> 00:01:35,440
Speaker 2: and Tom Schlager. We live by two rules, never quit

22
00:01:35,640 --> 00:01:37,760
Speaker 2: and carry on, and we're here to help you do

23
00:01:37,800 --> 00:01:40,400
Speaker 2: the same when it comes to your money. Stick around,

24
00:01:40,480 --> 00:01:43,480
Speaker 2: take notes, and join the conversation. To learn more or

25
00:01:43,520 --> 00:01:46,880
Speaker 2: get our free guides or schedule a consultation, visit Kelly

26
00:01:46,959 --> 00:01:49,600
Speaker 2: Financial dot org or call us at eight eight eight

27
00:01:49,720 --> 00:01:53,320
Speaker 2: eight hundred one eight eight one. This is Safe Money Strategies.

28
00:01:53,640 --> 00:01:57,200
Speaker 2: Next up Forever Young with Kelly Kelly and myself, William

29
00:01:57,280 --> 00:01:57,919
Speaker 2: Kelly Junior.

30
00:02:02,240 --> 00:02:07,200
Speaker 3: Safe Money Strategies with William Kelly and Kelly Kelly eight

31
00:02:07,720 --> 00:02:12,040
Speaker 3: hundred eighteen eighty one.

32
00:02:12,560 --> 00:02:16,079
Speaker 4: Each week on Safe Money Strategies, we take a moment

33
00:02:16,160 --> 00:02:19,400
Speaker 4: to step back from the headlines and have a real conversation,

34
00:02:19,720 --> 00:02:22,400
Speaker 4: the kind you might have around the kitchen table. This

35
00:02:22,600 --> 00:02:24,720
Speaker 4: is a part of the show we call Forever Young

36
00:02:25,040 --> 00:02:28,280
Speaker 4: is where I sit down with my handsome son William

37
00:02:28,760 --> 00:02:32,160
Speaker 4: and we talk about life, what's going on in the world,

38
00:02:32,320 --> 00:02:35,359
Speaker 4: in our family, and what really matters most when you're

39
00:02:35,400 --> 00:02:39,640
Speaker 4: planning for the future. Sometimes it's life. Sometimes is thoughtful,

40
00:02:39,800 --> 00:02:43,560
Speaker 4: but it's always real. Good morning, William, How are you?

41
00:02:43,960 --> 00:02:45,560
Speaker 5: Good morning Mom? I'm fine. How are you?

42
00:02:45,720 --> 00:02:47,160
Speaker 4: I'm doing just dandy.

43
00:02:47,520 --> 00:02:49,799
Speaker 5: Great, that's good to hear. It's been a good week.

44
00:02:50,040 --> 00:02:52,919
Speaker 4: Yes, good sitting with you again.

45
00:02:52,840 --> 00:02:55,320
Speaker 5: I know. And I've been home all week. Isn't that great? No?

46
00:02:55,600 --> 00:02:57,639
Speaker 4: I loved it. Spring break?

47
00:02:57,880 --> 00:02:58,640
Speaker 5: Oh thank god.

48
00:02:58,919 --> 00:03:01,440
Speaker 2: It's been a journey and it's finally at an end.

49
00:03:01,520 --> 00:03:02,760
Speaker 2: It's been a one week break.

50
00:03:02,919 --> 00:03:06,440
Speaker 4: But you've been like recharging this week. I have Yeah,

51
00:03:06,600 --> 00:03:08,160
Speaker 4: you were tired when you got home.

52
00:03:08,240 --> 00:03:08,560
Speaker 5: I was.

53
00:03:08,639 --> 00:03:10,720
Speaker 2: I think I slept until one thirty in the afternoon.

54
00:03:10,800 --> 00:03:11,800
Speaker 2: I didn't know I could do that.

55
00:03:12,280 --> 00:03:15,359
Speaker 1: I just let it be. I appreciates got it.

56
00:03:15,880 --> 00:03:18,000
Speaker 4: He's got a recharge here.

57
00:03:18,360 --> 00:03:20,120
Speaker 5: I don't even know where that came from or how

58
00:03:20,200 --> 00:03:21,359
Speaker 5: it happened. It just happened.

59
00:03:21,480 --> 00:03:23,800
Speaker 4: I think it's a build up from living in a dorm.

60
00:03:24,040 --> 00:03:24,480
Speaker 5: Probably.

61
00:03:24,520 --> 00:03:26,280
Speaker 1: I'm sure that has a you know, I know you

62
00:03:26,320 --> 00:03:26,480
Speaker 1: have a.

63
00:03:26,440 --> 00:03:27,560
Speaker 4: Good routine going.

64
00:03:27,960 --> 00:03:30,119
Speaker 1: We're just tired, I think so.

65
00:03:30,120 --> 00:03:30,200
Speaker 4: So.

66
00:03:30,280 --> 00:03:33,760
Speaker 5: Saint Patrick's Day has now surpassed us. That was nice.

67
00:03:34,120 --> 00:03:36,920
Speaker 2: We had a parade here in Newport, and there was

68
00:03:36,960 --> 00:03:40,320
Speaker 2: a parade in Boston. My buddy from college came over

69
00:03:40,880 --> 00:03:44,240
Speaker 2: during break. He spent the day with me and we

70
00:03:44,280 --> 00:03:46,720
Speaker 2: went out to Newport on Tuesday and we got a

71
00:03:46,800 --> 00:03:50,800
Speaker 2: nice dinner and we had some fun. But Boston, on

72
00:03:50,840 --> 00:03:52,760
Speaker 2: the other hand, over the weekend, I can't I mean,

73
00:03:52,800 --> 00:03:54,440
Speaker 2: I'm sure they had fun, but I can't.

74
00:03:54,200 --> 00:03:57,200
Speaker 5: Say it was as peaceful as Newport. There was a big.

75
00:03:57,080 --> 00:04:00,560
Speaker 2: Bloody mess over there, or just you know, in college

76
00:04:00,640 --> 00:04:02,960
Speaker 2: kids with dick Boston accents just going out and I.

77
00:04:02,920 --> 00:04:04,320
Speaker 5: Don't even know what the heck was happening.

78
00:04:04,600 --> 00:04:08,000
Speaker 2: Oh my word, cops fighting kids, kids fighting kids, cops

79
00:04:08,040 --> 00:04:08,760
Speaker 2: fighting cops.

80
00:04:08,840 --> 00:04:10,040
Speaker 5: I don't know. It was funny.

81
00:04:10,840 --> 00:04:13,320
Speaker 2: They posted all about it on social media, and my

82
00:04:13,360 --> 00:04:15,280
Speaker 2: friends are posting it on their stories, and so I

83
00:04:15,320 --> 00:04:18,159
Speaker 2: got a quick glimpse of that, and I have to say,

84
00:04:18,760 --> 00:04:22,359
Speaker 2: looks like an eventful day. Glad I wasn't there. My

85
00:04:22,440 --> 00:04:27,400
Speaker 2: buddy was there, actually, and he saw a wave of

86
00:04:27,400 --> 00:04:31,240
Speaker 2: people so packed that over the guardrails. People were falling

87
00:04:31,279 --> 00:04:34,640
Speaker 2: over it, so they were all backed like sardines. So

88
00:04:34,720 --> 00:04:39,320
Speaker 2: I mean, that's Boston for you. Boston and St. Patrick's Day.

89
00:04:39,320 --> 00:04:40,320
Speaker 2: What a great combination.

90
00:04:40,800 --> 00:04:45,000
Speaker 4: Oh my word, my word, so funny. Well, what else,

91
00:04:45,040 --> 00:04:50,360
Speaker 4: what else has happened? I know your grandparents they had

92
00:04:50,400 --> 00:04:54,960
Speaker 4: their anniversary, who would have been their sixty fifth anniversary,

93
00:04:55,880 --> 00:05:00,000
Speaker 4: So your grandfather had a lot of great memories to share,

94
00:05:00,560 --> 00:05:02,160
Speaker 4: like so many years.

95
00:05:02,120 --> 00:05:04,159
Speaker 5: I didn't even realize that it was their anniversary.

96
00:05:04,279 --> 00:05:08,240
Speaker 4: Yeah, they were married in nineteen sixty one and they

97
00:05:08,320 --> 00:05:11,039
Speaker 4: took off for a three month honeymoon.

98
00:05:11,240 --> 00:05:14,960
Speaker 5: Holy in his corvettely.

99
00:05:14,000 --> 00:05:19,000
Speaker 4: And the luggage and they had hat boxes. Then the

100
00:05:19,040 --> 00:05:23,760
Speaker 4: women wore hats and his car was loaded down a

101
00:05:23,839 --> 00:05:27,880
Speaker 4: lot of hat boxes. And grandmothers said they knew they

102
00:05:27,920 --> 00:05:31,040
Speaker 4: were okay because like every now and then they would

103
00:05:31,120 --> 00:05:36,680
Speaker 4: receive hat boxes in the mail, like downsizing. But yeah,

104
00:05:36,720 --> 00:05:40,520
Speaker 4: they drove across the country. They went to California. They

105
00:05:40,560 --> 00:05:41,680
Speaker 4: had a great honeymoon.

106
00:05:41,760 --> 00:05:42,640
Speaker 5: That's a tough car.

107
00:05:42,920 --> 00:05:45,039
Speaker 2: I can't think of a Corvette now that would last

108
00:05:45,040 --> 00:05:46,000
Speaker 2: more than one hundred miles.

109
00:05:46,200 --> 00:05:49,120
Speaker 4: Your great grandparents they did the same thing for their honeymoon.

110
00:05:49,120 --> 00:05:51,680
Speaker 2: Really, they want a three month honeymoon. Yeah, holy, this

111
00:05:51,760 --> 00:05:52,640
Speaker 2: is a family tradition.

112
00:05:52,880 --> 00:05:56,080
Speaker 4: Yeah, and they come back and they're expecting their first child.

113
00:05:56,520 --> 00:06:01,560
Speaker 5: Oh my gosh, that was me, that was you? Wow, Yes, yes,

114
00:06:02,400 --> 00:06:02,960
Speaker 5: that wonderful.

115
00:06:03,000 --> 00:06:05,919
Speaker 4: So yeah, yeah, so I see him a lot of

116
00:06:06,000 --> 00:06:10,040
Speaker 4: pictures that I have from their wedding, and yeah, it

117
00:06:10,120 --> 00:06:10,880
Speaker 4: was so sweet.

118
00:06:11,320 --> 00:06:13,880
Speaker 5: I'm sure sixty five.

119
00:06:14,120 --> 00:06:16,240
Speaker 4: Yeah, when Mom passed, you know, it.

120
00:06:16,200 --> 00:06:17,760
Speaker 5: Was their sixtieth that's right.

121
00:06:17,839 --> 00:06:19,680
Speaker 4: Yeah, yeah, but it's been I can't believe it's been

122
00:06:19,760 --> 00:06:20,440
Speaker 4: five years.

123
00:06:20,480 --> 00:06:21,320
Speaker 5: That's incredible.

124
00:06:21,560 --> 00:06:22,839
Speaker 6: I know, that's just wild.

125
00:06:22,960 --> 00:06:25,760
Speaker 4: I know he still loves her just as much.

126
00:06:25,920 --> 00:06:26,560
Speaker 5: I'm sure.

127
00:06:26,880 --> 00:06:30,599
Speaker 4: Yeah. Wow, that's a bittersweet.

128
00:06:30,320 --> 00:06:31,600
Speaker 5: Little Yeah, that is.

129
00:06:31,960 --> 00:06:34,200
Speaker 2: I know it was a sad day when she left us,

130
00:06:34,240 --> 00:06:36,640
Speaker 2: but you know, she was surrounded by family.

131
00:06:36,680 --> 00:06:38,200
Speaker 5: We were very lucky to be around her.

132
00:06:38,360 --> 00:06:41,760
Speaker 2: My grandmother was a personality ladies and gentlemen. I don't

133
00:06:41,760 --> 00:06:44,400
Speaker 2: even know how you describe her, but I'll say this all.

134
00:06:45,400 --> 00:06:47,440
Speaker 2: I'll give her the introduction. She was the second most

135
00:06:47,440 --> 00:06:51,039
Speaker 2: beautiful woman compared to Martha Stewart, who and I think

136
00:06:51,080 --> 00:06:52,159
Speaker 2: her own words said she.

137
00:06:53,040 --> 00:06:53,600
Speaker 5: Should have won.

138
00:06:54,440 --> 00:06:56,680
Speaker 4: It was best dressed and something else.

139
00:06:56,920 --> 00:07:01,120
Speaker 2: Yeah, it was Mimi should have won. I just I

140
00:07:01,200 --> 00:07:03,760
Speaker 2: know Mimi, and she's better looking than Martha Stewart. No

141
00:07:03,800 --> 00:07:06,800
Speaker 2: disrespecting Martha Sewart, you know, a beautiful woman, but you know,

142
00:07:06,839 --> 00:07:08,000
Speaker 2: I think maybe should have won that.

143
00:07:08,440 --> 00:07:10,920
Speaker 1: But other than that, she was beautiful.

144
00:07:11,080 --> 00:07:14,280
Speaker 2: She had a strong knack for interior design, which got

145
00:07:14,440 --> 00:07:17,120
Speaker 2: passed down to mom. And so the house has great

146
00:07:17,160 --> 00:07:20,520
Speaker 2: interior design than you William, thanks to me Me's genetics.

147
00:07:20,720 --> 00:07:24,160
Speaker 2: And she had great taste, just very like artistic vision.

148
00:07:24,720 --> 00:07:27,560
Speaker 2: She was a woman's woman, no other way to put it, Yes,

149
00:07:27,720 --> 00:07:28,840
Speaker 2: like in the best way possible.

150
00:07:28,920 --> 00:07:32,080
Speaker 4: I know, when I'm in Georgia and I, you know, visiting,

151
00:07:32,560 --> 00:07:35,960
Speaker 4: and I run into someone who knew your grandmother, they

152
00:07:36,040 --> 00:07:40,920
Speaker 4: always say, oh, I love Diane. She was so sweet.

153
00:07:42,200 --> 00:07:45,720
Speaker 2: Never get on her badside, though it was over the

154
00:07:45,800 --> 00:07:49,160
Speaker 2: second you were, if you if you made her a

155
00:07:49,200 --> 00:07:52,000
Speaker 2: grand baby's upset, or if you ticked her off the

156
00:07:52,040 --> 00:07:52,560
Speaker 2: wrong way.

157
00:07:53,480 --> 00:07:55,520
Speaker 4: She was she was a spitfire.

158
00:07:55,680 --> 00:07:57,560
Speaker 5: She was a spitfire. So it goes both ways in

159
00:07:57,600 --> 00:07:57,960
Speaker 5: the possim.

160
00:07:58,000 --> 00:08:01,880
Speaker 4: I always think of one picture of you sitting in

161
00:08:01,960 --> 00:08:05,120
Speaker 4: my mother's lap and you were I don't know, maybe

162
00:08:05,240 --> 00:08:09,480
Speaker 4: three years old, three or four, and you were a

163
00:08:09,640 --> 00:08:13,880
Speaker 4: little stinker that day, and you didn't want your picture taken,

164
00:08:14,120 --> 00:08:17,520
Speaker 4: and so anyway, you kind of smiled in the picture

165
00:08:18,040 --> 00:08:22,040
Speaker 4: and Mom had like two little fingers up behind your

166
00:08:22,080 --> 00:08:26,320
Speaker 4: head like they were devil horns, and she's laughing. If

167
00:08:26,440 --> 00:08:29,640
Speaker 4: that is barn On the cutest picture.

168
00:08:31,240 --> 00:08:33,160
Speaker 2: I have the vision in my brain right now that

169
00:08:33,800 --> 00:08:35,520
Speaker 2: I'm sure it's on Facebook somewhere too.

170
00:08:35,920 --> 00:08:42,800
Speaker 4: Oh, I'm sure. Oh that picture is just what a memory.

171
00:08:42,880 --> 00:08:44,720
Speaker 1: I love it, how beautiful I know.

172
00:08:45,320 --> 00:08:48,480
Speaker 2: Well, I hope everybody's family had a wonderful Saint Patrick's Day.

173
00:08:48,480 --> 00:08:51,720
Speaker 2: I hope that it was peaceful. And hopefully you didn't

174
00:08:51,760 --> 00:08:54,640
Speaker 2: get any drunken bar fights. That's very important. Oh really

175
00:08:54,679 --> 00:08:56,760
Speaker 2: you want to try to avoid those. Yeah, I hope

176
00:08:56,800 --> 00:09:00,200
Speaker 2: everyone had less of Saint Patrick's Day. And if anybody

177
00:09:00,240 --> 00:09:02,160
Speaker 2: else is on spring break and listening right now, I

178
00:09:02,160 --> 00:09:04,440
Speaker 2: hope you enjoy your Saturday and Sunday.

179
00:09:04,760 --> 00:09:05,920
Speaker 5: Back to school on Monday.

180
00:09:06,520 --> 00:09:10,320
Speaker 4: Absolutely, do keep us on your dial. We've got a

181
00:09:10,360 --> 00:09:13,240
Speaker 4: lot of great content coming your way. Mike do Said

182
00:09:13,280 --> 00:09:16,320
Speaker 4: and Greg Workman will break down the three stages of

183
00:09:16,440 --> 00:09:20,439
Speaker 4: retirement and how planning for each phase can help bring

184
00:09:20,480 --> 00:09:24,880
Speaker 4: confidence to your financial future. Mary, Madeline Kelly and Greg Murray.

185
00:09:24,960 --> 00:09:27,880
Speaker 4: We'll talk about why spring can be a great time

186
00:09:28,000 --> 00:09:31,600
Speaker 4: to do a little financial spring cleaning. When William and

187
00:09:31,640 --> 00:09:35,880
Speaker 4: I return, we will talk about what falling interest rates

188
00:09:35,920 --> 00:09:40,000
Speaker 4: can mean for retirees and some thoughtful steps families may

189
00:09:40,040 --> 00:09:43,000
Speaker 4: want to consider, and of course, We'll close the hour

190
00:09:43,120 --> 00:09:46,000
Speaker 4: with some wit and wisdom from the late Bill Kelly.

191
00:09:46,280 --> 00:09:50,640
Speaker 4: His words continue to inspire and guide us. That's a

192
00:09:50,720 --> 00:09:53,920
Speaker 4: wrap for forever. Young thank you for listening, and William,

193
00:09:54,040 --> 00:09:56,880
Speaker 4: thank you for joining me. We'll be back with more

194
00:09:56,920 --> 00:10:07,560
Speaker 4: great content. I love you, Honey, I love you too.

195
00:10:08,240 --> 00:10:12,280
Speaker 7: All right, Boston, let's talk about your money. Washington just

196
00:10:12,360 --> 00:10:15,440
Speaker 7: passed what the President calls the one Big Beautiful Bill,

197
00:10:15,559 --> 00:10:19,080
Speaker 7: and yes, there are significant tax changes in it. Lower

198
00:10:19,200 --> 00:10:23,040
Speaker 7: rates remain in place. There's a new deduction for Americans

199
00:10:23,080 --> 00:10:27,200
Speaker 7: over sixty five. Estate exemptions are expanding. That could mean

200
00:10:27,280 --> 00:10:30,480
Speaker 7: more of your hard earned money staying where it belongs

201
00:10:31,040 --> 00:10:36,400
Speaker 7: with you. But here's the reality. Even tax relief requires

202
00:10:36,440 --> 00:10:41,280
Speaker 7: thoughtful planning. Some provisions may sunset in the coming years.

203
00:10:41,679 --> 00:10:46,160
Speaker 7: Healthcare eligibility rules are evolving. How will all these changes

204
00:10:46,200 --> 00:10:50,400
Speaker 7: apply to your retirement income. That's why Kelly Financial created

205
00:10:50,440 --> 00:10:54,640
Speaker 7: a new guide, Unlock your tax savings. Call now to

206
00:10:54,679 --> 00:10:58,040
Speaker 7: get your copy eight eighty eight, eight hundred and eighteen

207
00:10:58,200 --> 00:11:02,160
Speaker 7: eighty one or email Kelly at Kelly Financial dot org.

208
00:11:02,720 --> 00:11:05,720
Speaker 7: Kelly at Kelly Financial dot org.

209
00:11:08,320 --> 00:11:10,840
Speaker 1: Welcome back to Safe Money Strategies. My name is Mike Ducett.

210
00:11:11,040 --> 00:11:13,400
Speaker 1: Chief operating officer at Kelly Financial.

211
00:11:13,960 --> 00:11:17,280
Speaker 8: Joining me as always is Greg Workman, investment advisor here

212
00:11:17,320 --> 00:11:19,559
Speaker 8: at the firm. Each week on the show, we talk

213
00:11:19,600 --> 00:11:23,199
Speaker 8: about the financial challenges people face as they approach retirement,

214
00:11:23,679 --> 00:11:27,080
Speaker 8: and more importantly, how thoughtful planning can help create confidence

215
00:11:27,120 --> 00:11:30,040
Speaker 8: and clarity during those years. Greg, we spent a lot

216
00:11:30,040 --> 00:11:33,679
Speaker 8: of time helping people transition from the working years into retirement.

217
00:11:34,280 --> 00:11:35,440
Speaker 1: One thing we've noticed over.

218
00:11:35,320 --> 00:11:38,440
Speaker 8: The years is that many people assume retirement is going

219
00:11:38,520 --> 00:11:41,679
Speaker 8: to be one long, steady financial phase. They think their

220
00:11:41,720 --> 00:11:44,880
Speaker 8: expenses will stay roughly the same year after year, but

221
00:11:44,960 --> 00:11:47,040
Speaker 8: in reality, that's almost never how it works.

222
00:11:47,360 --> 00:11:48,600
Speaker 1: That's exactly right, Mike.

223
00:11:49,120 --> 00:11:52,440
Speaker 9: One of the most helpful conversations we have with clients

224
00:11:52,559 --> 00:11:57,360
Speaker 9: and prospective clients is explaining that retirement tends to unfold

225
00:11:57,480 --> 00:12:02,640
Speaker 9: in stages. Your lifestyle changes over time, your priorities evolve,

226
00:12:03,240 --> 00:12:08,160
Speaker 9: and naturally, your spending patterns change along the way. Financial

227
00:12:08,200 --> 00:12:12,880
Speaker 9: planners often refer to these as the three stages of retirement,

228
00:12:13,280 --> 00:12:17,640
Speaker 9: the go go years, the slowgo years, and the no

229
00:12:17,760 --> 00:12:22,920
Speaker 9: go years. Understanding those stages can really help people build

230
00:12:23,000 --> 00:12:27,280
Speaker 9: a retirement plan that reflects how life actually unfolds.

231
00:12:27,480 --> 00:12:29,720
Speaker 8: And Greg this is something we talk about frequently with

232
00:12:29,800 --> 00:12:32,760
Speaker 8: families who come into our office. Many people build their

233
00:12:32,800 --> 00:12:36,240
Speaker 8: retirement projections assuming their spending will stay flat for twenty

234
00:12:36,280 --> 00:12:38,920
Speaker 8: five or thirty years, but when we walk them through

235
00:12:38,920 --> 00:12:41,800
Speaker 8: the reality of those three phases, it often makes their

236
00:12:41,840 --> 00:12:44,960
Speaker 8: plan feel much more realistic and frankly, more achievable.

237
00:12:45,559 --> 00:12:48,720
Speaker 1: Let's start with the first stage, the go go years.

238
00:12:48,960 --> 00:12:52,280
Speaker 9: The go go years are typically the early part of retirement.

239
00:12:52,559 --> 00:12:55,560
Speaker 9: Think about someone who retires around age sixty five. The

240
00:12:55,600 --> 00:12:58,559
Speaker 9: first decade or so, maybe in their mid sixties into

241
00:12:58,600 --> 00:13:02,439
Speaker 9: their early seventies, is often when people are at their healthiest.

242
00:13:02,600 --> 00:13:06,360
Speaker 9: They're most active and most excited about the freedom that

243
00:13:06,480 --> 00:13:09,960
Speaker 9: retirement breaks. They finally have all the time for all

244
00:13:10,000 --> 00:13:13,079
Speaker 9: the things they couldn't do during their working life.

245
00:13:13,160 --> 00:13:15,720
Speaker 8: This is when we often see people doing the things

246
00:13:15,720 --> 00:13:17,480
Speaker 8: they've been postponing for years.

247
00:13:17,800 --> 00:13:18,880
Speaker 1: Travel is a big one.

248
00:13:19,040 --> 00:13:22,199
Speaker 8: Many retirees start planning trips they've talked about for decades.

249
00:13:22,480 --> 00:13:26,440
Speaker 8: Maybe it's visiting national parks, taking a European vacation, going

250
00:13:26,480 --> 00:13:29,600
Speaker 8: on a cruise, or simply spending more time visiting family

251
00:13:29,640 --> 00:13:32,800
Speaker 8: in different parts of the country. But it's not just traveled,

252
00:13:32,880 --> 00:13:38,559
Speaker 8: it's hobbies, activities and experiences. People start golfing more, joining clubs, volunteering,

253
00:13:38,800 --> 00:13:41,400
Speaker 8: taking classes, or spending more time with their grandchildren.

254
00:13:41,760 --> 00:13:42,360
Speaker 6: Exactly.

255
00:13:42,760 --> 00:13:45,840
Speaker 9: These are the years when people are most active and engaged,

256
00:13:46,160 --> 00:13:49,760
Speaker 9: and because of that, this stage of retirement can sometimes

257
00:13:49,840 --> 00:13:53,120
Speaker 9: be the most expensive. That surprises a lot of people

258
00:13:53,320 --> 00:13:58,280
Speaker 9: because many assume their expenses will immediately drop once they retire.

259
00:13:58,960 --> 00:14:03,280
Speaker 9: In reality, some expenses do go down, things like commuting

260
00:14:03,280 --> 00:14:09,760
Speaker 9: costs or payroll taxes, but discretionary spending often increases. You're

261
00:14:09,760 --> 00:14:14,679
Speaker 9: going out more, traveling more, and enjoying experiences that you

262
00:14:14,800 --> 00:14:17,720
Speaker 9: simply didn't have time for during your working years.

263
00:14:18,000 --> 00:14:20,400
Speaker 8: And this is something that often makes retirees a little

264
00:14:20,480 --> 00:14:24,240
Speaker 8: uncomfortable at first. They've spent decades developing the habit of

265
00:14:24,320 --> 00:14:28,160
Speaker 8: saving money. Suddenly they're retired and they see their spending

266
00:14:28,200 --> 00:14:32,360
Speaker 8: increase because they're enjoying life more. Naturally, they start asking themselves,

267
00:14:32,440 --> 00:14:33,720
Speaker 8: are we spending too much?

268
00:14:33,880 --> 00:14:37,640
Speaker 9: That is a very common concern. Many retirees come into

269
00:14:37,680 --> 00:14:41,160
Speaker 9: our office and say something like, we're excited about retirement,

270
00:14:41,440 --> 00:14:45,440
Speaker 9: but we're worried about spending too much early on. But

271
00:14:45,600 --> 00:14:49,280
Speaker 9: what they don't always realize is that spending more during

272
00:14:49,320 --> 00:14:52,480
Speaker 9: the go go years can actually be part of a

273
00:14:52,640 --> 00:14:58,080
Speaker 9: well designed retirement plan. Retirement spending doesn't necessarily look like

274
00:14:58,120 --> 00:15:01,400
Speaker 9: a straight line. In many case, it looks more like

275
00:15:01,440 --> 00:15:02,160
Speaker 9: a curve.

276
00:15:02,000 --> 00:15:04,040
Speaker 8: And this is where some of the planning tools we

277
00:15:04,200 --> 00:15:07,480
Speaker 8: use can really help people visualize what their retirement might

278
00:15:07,560 --> 00:15:10,320
Speaker 8: look like. When we sit down with families, we use

279
00:15:10,360 --> 00:15:14,040
Speaker 8: retirement planning software that allows us to project spending patterns

280
00:15:14,080 --> 00:15:17,560
Speaker 8: over time. Instead of assuming someone spends the exact same

281
00:15:17,640 --> 00:15:21,040
Speaker 8: amount every year for the next twenty five or thirty years,

282
00:15:21,440 --> 00:15:24,520
Speaker 8: we can model something much closer to reality. For example,

283
00:15:24,880 --> 00:15:28,160
Speaker 8: we might project higher spending during the early retirement years

284
00:15:28,320 --> 00:15:32,200
Speaker 8: when someone is traveling and enjoying activities, and then gradually

285
00:15:32,240 --> 00:15:34,160
Speaker 8: tape of the spending down over time.

286
00:15:34,360 --> 00:15:38,520
Speaker 9: When people see that visual illustration, it can be reassuring.

287
00:15:38,840 --> 00:15:44,440
Speaker 9: Many retirees are naturally conservative. They've spent decades saving and

288
00:15:44,560 --> 00:15:48,440
Speaker 9: being responsible with their money, so even when they've accumulated

289
00:15:48,520 --> 00:15:53,040
Speaker 9: enough to retire comfortably, they sometimes struggle to feel confident

290
00:15:53,120 --> 00:15:56,960
Speaker 9: about spending it. But one retirement plan intentionally allows for

291
00:15:57,040 --> 00:16:00,280
Speaker 9: higher spending in those early years. It can give funok's

292
00:16:00,280 --> 00:16:04,840
Speaker 9: permission to enjoy the retirement they worked so hard to reach.

293
00:16:05,000 --> 00:16:07,760
Speaker 8: Let's walk through a hypothetical example that illustrates this.

294
00:16:08,160 --> 00:16:09,800
Speaker 1: Let's say we're working with the couple.

295
00:16:10,000 --> 00:16:14,000
Speaker 8: This is a hypothetical client example for illustration purposes. We'll

296
00:16:14,000 --> 00:16:17,400
Speaker 8: call them John and Susan. John is sixty five, Susan

297
00:16:17,480 --> 00:16:20,360
Speaker 8: is sixty four, and they've both recently retired.

298
00:16:20,520 --> 00:16:22,680
Speaker 1: They've done a good job saving throughout their careers.

299
00:16:22,760 --> 00:16:26,480
Speaker 8: In between their retirement accounts, social Security benefits, and their

300
00:16:26,480 --> 00:16:30,720
Speaker 8: investment portfolio, they've built a solid financial foundation. But they

301
00:16:30,760 --> 00:16:32,840
Speaker 8: come into our office with a concern that we hear

302
00:16:32,960 --> 00:16:36,640
Speaker 8: quite often. They say, we're excited about retirement, but we're

303
00:16:36,680 --> 00:16:38,600
Speaker 8: worried about spending too much early on.

304
00:16:38,800 --> 00:16:41,480
Speaker 9: And when we ask them about their plans, the reason

305
00:16:41,560 --> 00:16:44,800
Speaker 9: becomes clear. They want to travel more. They want to

306
00:16:44,920 --> 00:16:48,320
Speaker 9: visit national parks, They want to spend time with their

307
00:16:48,320 --> 00:16:52,080
Speaker 9: grandkids who live in different states. John loves to golf,

308
00:16:52,440 --> 00:16:55,560
Speaker 9: and Susan wants to take smart classes that she never

309
00:16:55,640 --> 00:16:59,520
Speaker 9: had time for during her career. These are classic go

310
00:16:59,520 --> 00:17:03,080
Speaker 9: go years goals, but at the same time, they are

311
00:17:03,120 --> 00:17:08,520
Speaker 9: worried that enjoying those experiences might somehow jeopardize their long

312
00:17:08,640 --> 00:17:10,360
Speaker 9: term financial security.

313
00:17:10,520 --> 00:17:12,560
Speaker 8: This is where having a structured plan can make all

314
00:17:12,640 --> 00:17:16,159
Speaker 8: the difference. When we run their numbers through the planning software,

315
00:17:16,400 --> 00:17:19,959
Speaker 8: we can build a retirement projection that reflects their lifestyle goals.

316
00:17:20,320 --> 00:17:23,200
Speaker 8: Maybe their spending is a little higher during their sixties

317
00:17:23,200 --> 00:17:27,120
Speaker 8: and early seventies while they're traveling and staying active, then

318
00:17:27,119 --> 00:17:30,560
Speaker 8: over time the spending gradually tapers down. When John and

319
00:17:30,600 --> 00:17:33,920
Speaker 8: Susan see that projection and see that their plan still works,

320
00:17:34,160 --> 00:17:37,399
Speaker 8: it can completely change their perspective. Instead of worrying about

321
00:17:37,440 --> 00:17:40,919
Speaker 8: every dollar they spend, they can start focusing on enjoying

322
00:17:40,920 --> 00:17:43,080
Speaker 8: the years they've worked so hard to reach.

323
00:17:43,080 --> 00:17:47,080
Speaker 9: And that really highlights the purpose of planning. Retirement planning

324
00:17:47,200 --> 00:17:51,760
Speaker 9: isn't just about investments or account balances. It's about aligning

325
00:17:51,920 --> 00:17:55,680
Speaker 9: your financial resources with the life that you want to live.

326
00:17:56,240 --> 00:18:00,240
Speaker 9: If someone spent decades saving responsibly, those early retires from

327
00:18:00,400 --> 00:18:04,520
Speaker 9: years should be an opportunity to enjoy that freedom. But

328
00:18:04,600 --> 00:18:06,520
Speaker 9: it should be done thoughtfully and.

329
00:18:06,440 --> 00:18:10,119
Speaker 8: Strategically, exactly because, as we mentioned earlier, the go go

330
00:18:10,320 --> 00:18:13,720
Speaker 8: years are really just the first phase of retirement. Over time,

331
00:18:13,880 --> 00:18:17,640
Speaker 8: lifestyles and spending patterns tend to evolve. Travel slows down,

332
00:18:17,960 --> 00:18:21,600
Speaker 8: routines become a little simpler, and priorities often change in

333
00:18:21,680 --> 00:18:24,960
Speaker 8: the next stage what plan is often call the slow

334
00:18:25,040 --> 00:18:25,639
Speaker 8: Goo years.

335
00:18:25,920 --> 00:18:27,360
Speaker 1: People are still active.

336
00:18:27,320 --> 00:18:29,640
Speaker 8: But they may not be moving around quite as much

337
00:18:29,680 --> 00:18:33,080
Speaker 8: as they were in those early retirement years. Eventually, there's

338
00:18:33,160 --> 00:18:36,720
Speaker 8: also the Nogo stage, when healthcare and other considerations can

339
00:18:36,720 --> 00:18:39,800
Speaker 8: start to play a bigger role. Understanding how these stages

340
00:18:39,840 --> 00:18:42,399
Speaker 8: fit together can make a big difference when building a

341
00:18:42,480 --> 00:18:43,760
Speaker 8: retirement income strategy.

342
00:18:43,960 --> 00:18:45,560
Speaker 1: And when we come back, we'll.

343
00:18:45,400 --> 00:18:48,760
Speaker 8: Continue this conversation and talk about the slowgo years and

344
00:18:49,000 --> 00:18:51,520
Speaker 8: the no Goo years and how proper planning can help

345
00:18:51,600 --> 00:18:57,679
Speaker 8: ensure your retirement income supports you through every stage of life.

346
00:18:59,119 --> 00:19:03,760
Speaker 3: Kelly Financial Services A eight eight hundred eighteen eighty one.

347
00:19:04,640 --> 00:19:07,119
Speaker 5: It's sorry what you've done. That's important, but it's the

348
00:19:07,440 --> 00:19:08,400
Speaker 5: challenge it has been.

349
00:19:08,520 --> 00:19:11,919
Speaker 10: Sir Edmund Hillary said those words after reaching the summit

350
00:19:12,000 --> 00:19:15,520
Speaker 10: of Mount Everest. But in climbing the decent is just

351
00:19:15,560 --> 00:19:18,280
Speaker 10: as perilous as the acent, and the same is true

352
00:19:18,320 --> 00:19:22,800
Speaker 10: in retirement planning. Learn why call Kelly Financial Services today

353
00:19:22,920 --> 00:19:26,439
Speaker 10: for a retirement consultation Call eight eight eight eight hundred

354
00:19:26,520 --> 00:19:30,360
Speaker 10: eighteen eighty one or visit Kellyfinancial dot org. What goes

355
00:19:30,480 --> 00:19:34,399
Speaker 10: up must come down. We're Kelly Financial Come retire with us.

356
00:19:35,440 --> 00:19:39,680
Speaker 3: The Money Rap with Kelly Financial Advisors Greg Murray and

357
00:19:39,720 --> 00:19:40,919
Speaker 3: Mary Madeline Kelly.

358
00:19:42,280 --> 00:19:45,080
Speaker 11: Hello, this is Greg Murray, Senior vice president and chief

359
00:19:45,160 --> 00:19:48,840
Speaker 11: Compliance Officer Kelly Financial Services. Joining me today is Mary

360
00:19:48,840 --> 00:19:50,960
Speaker 11: Madeline Kelly, one of our wealth advisers. How are you

361
00:19:51,040 --> 00:19:51,560
Speaker 11: doing today?

362
00:19:51,680 --> 00:19:54,879
Speaker 12: I am doing great, Greg, And I have to say,

363
00:19:55,359 --> 00:19:58,040
Speaker 12: there's something about this time of year that just feels

364
00:19:58,040 --> 00:20:00,800
Speaker 12: like a reset. The weather is starting to turn, the

365
00:20:00,920 --> 00:20:04,720
Speaker 12: days are getting longer, and people naturally start organizing things

366
00:20:05,040 --> 00:20:08,960
Speaker 12: their homes, their schedules, and ideally their finances too.

367
00:20:09,200 --> 00:20:09,600
Speaker 5: That's right.

368
00:20:09,680 --> 00:20:12,800
Speaker 11: Spring cleaning isn't just for clauses and garages. It's actually

369
00:20:12,880 --> 00:20:14,399
Speaker 11: one of the best times of year to take a

370
00:20:14,440 --> 00:20:16,960
Speaker 11: step back and clean up your financial life exactly.

371
00:20:17,480 --> 00:20:20,960
Speaker 12: And the nice thing is this doesn't have to be overwhelming.

372
00:20:21,440 --> 00:20:25,280
Speaker 12: Financial Spring cleaning is really about getting organized, making sure

373
00:20:25,320 --> 00:20:28,120
Speaker 12: everything is up to date, and creating clarity. So where

374
00:20:28,119 --> 00:20:30,760
Speaker 12: should people start? A great place to start is simply

375
00:20:30,840 --> 00:20:35,000
Speaker 12: getting organized. Many people have accounts spread across different institutions

376
00:20:35,320 --> 00:20:39,760
Speaker 12: old four one ks, iras, brokerage accounts, and they may

377
00:20:39,800 --> 00:20:42,520
Speaker 12: not have a clear picture of everything in one place.

378
00:20:42,760 --> 00:20:44,920
Speaker 11: We see that all the time, and when things are scattered,

379
00:20:44,920 --> 00:20:48,400
Speaker 11: it's harder to manage risk, track performance and make informed decisions.

380
00:20:48,520 --> 00:20:52,879
Speaker 12: Consolidation, when appropriate, can make things much easier to manage.

381
00:20:53,040 --> 00:20:56,240
Speaker 12: It's not about changing everything, it's about knowing what you

382
00:20:56,320 --> 00:20:58,040
Speaker 12: have and how it all fits together.

383
00:20:58,240 --> 00:21:01,600
Speaker 11: Another important step is reviewing ben fisiaries and account details.

384
00:21:01,920 --> 00:21:05,000
Speaker 11: These are things people set once and then forget about, yes,

385
00:21:05,080 --> 00:21:11,040
Speaker 11: and they're incredibly important. Beneficiary designations override wills in many cases,

386
00:21:11,400 --> 00:21:14,840
Speaker 11: so making sure they're accurate is critical, especially after life

387
00:21:14,920 --> 00:21:18,560
Speaker 11: changes like marriage, divorce, or having children. This is also

388
00:21:18,600 --> 00:21:21,000
Speaker 11: a good time to look at trust and contacts on accounts,

389
00:21:21,119 --> 00:21:24,760
Speaker 11: making sure someone can be reached if something unusual happens exactly.

390
00:21:25,160 --> 00:21:27,520
Speaker 12: It's a simple step that can provide an extra layer

391
00:21:27,560 --> 00:21:28,080
Speaker 12: of protection.

392
00:21:28,480 --> 00:21:30,880
Speaker 11: Let's talk about spending for a moment. Spring is also

393
00:21:30,880 --> 00:21:32,359
Speaker 11: a great time to review cash flow.

394
00:21:32,560 --> 00:21:35,600
Speaker 12: Yes, not in a restrictive way, but in an awareness

395
00:21:35,640 --> 00:21:39,320
Speaker 12: based way, looking at where your money is going, identifying

396
00:21:39,359 --> 00:21:42,600
Speaker 12: subscriptions you may not need, and making sure you're spending

397
00:21:42,640 --> 00:21:43,440
Speaker 12: aligns with your.

398
00:21:43,359 --> 00:21:46,919
Speaker 11: Priorities because small recurring expenses can add up over time.

399
00:21:46,960 --> 00:21:50,040
Speaker 12: And sometimes just seeing it clearly helps people make better

400
00:21:50,080 --> 00:21:52,840
Speaker 12: decisions without feeling like they're sacrificing anything.

401
00:21:53,119 --> 00:21:57,080
Speaker 11: Another area to review is investment alignment. Overtime portfolios can

402
00:21:57,200 --> 00:21:59,479
Speaker 11: drift based on market performance.

403
00:21:59,119 --> 00:22:02,600
Speaker 12: Yes, and bring is a great checkpoint to ask, does

404
00:22:02,640 --> 00:22:05,640
Speaker 12: my current allocation still match my goals? In risk tolerance?

405
00:22:06,160 --> 00:22:10,080
Speaker 12: Rebalancing when appropriate can help bring things back into alignment.

406
00:22:10,240 --> 00:22:13,040
Speaker 11: And of course, investing involves a risk, including the potential

407
00:22:13,080 --> 00:22:16,600
Speaker 11: loss of principle, so those decisions should always be made thoughtfully.

408
00:22:16,880 --> 00:22:20,920
Speaker 12: Absolutely, this isn't about reacting to short term market movements.

409
00:22:21,320 --> 00:22:23,000
Speaker 12: It's about staying aligned with your.

410
00:22:22,880 --> 00:22:23,760
Speaker 1: Long term plan.

411
00:22:23,920 --> 00:22:26,679
Speaker 11: We should also mention tax planning. Even though tax season

412
00:22:26,760 --> 00:22:29,400
Speaker 11: is coming to a close, it's actually the perfect time

413
00:22:29,440 --> 00:22:31,280
Speaker 11: to start thinking ahead for next year.

414
00:22:31,320 --> 00:22:36,400
Speaker 12: Whether it's adjusting withholdings, planning contributions, or thinking about strategies

415
00:22:36,440 --> 00:22:40,480
Speaker 12: like roth conversions or charitable giving. Earlier planning gives you

416
00:22:40,520 --> 00:22:42,240
Speaker 12: more flexibility.

417
00:22:41,640 --> 00:22:44,439
Speaker 11: And it reduces last minutes stress people often feel in

418
00:22:44,480 --> 00:22:45,880
Speaker 11: March and April exactly.

419
00:22:46,359 --> 00:22:51,200
Speaker 12: And one more area people often overlook is insurance coverage.

420
00:22:51,600 --> 00:22:53,679
Speaker 12: Making sure policies still fit their needs.

421
00:22:53,880 --> 00:22:56,159
Speaker 1: Life changes and coverage should evolve with it.

422
00:22:56,280 --> 00:22:58,800
Speaker 12: So when you put all of this together, Spring cleaning

423
00:22:58,840 --> 00:23:02,800
Speaker 12: your finances isn't about making drastic changes. It's about creating

424
00:23:02,800 --> 00:23:06,240
Speaker 12: clarity and making small adjustments that keep everything on track.

425
00:23:06,359 --> 00:23:08,520
Speaker 11: And that clarity often leads to something we talk about

426
00:23:08,520 --> 00:23:09,640
Speaker 11: a lot, peace of mind.

427
00:23:09,840 --> 00:23:13,600
Speaker 12: Yes, when your financial life is organized and aligned, you

428
00:23:13,680 --> 00:23:15,880
Speaker 12: feel much more confident and in control.

429
00:23:16,000 --> 00:23:18,800
Speaker 11: So let's summarize for our listeners what does financial spring

430
00:23:18,840 --> 00:23:19,600
Speaker 11: cleaning look like.

431
00:23:19,800 --> 00:23:22,680
Speaker 12: It comes down to a few key steps. Get organized

432
00:23:22,680 --> 00:23:26,600
Speaker 12: and understand what you have, Review and update beneficiaries and

433
00:23:26,800 --> 00:23:32,000
Speaker 12: account details, evaluate spending and cash flow, make sure investments

434
00:23:32,040 --> 00:23:34,960
Speaker 12: are aligned with your goals, and start thinking ahead for

435
00:23:35,080 --> 00:23:36,200
Speaker 12: taxes and planning.

436
00:23:36,400 --> 00:23:39,880
Speaker 11: Perfect summary, and as always, every financial situation is unique

437
00:23:39,960 --> 00:23:42,720
Speaker 11: and investing of all's risks, so any decision should be

438
00:23:42,800 --> 00:23:44,919
Speaker 11: basing your personal goals and circumstances.

439
00:23:45,040 --> 00:23:47,880
Speaker 12: But the key takeaway is this, just like cleaning your home,

440
00:23:48,119 --> 00:23:50,880
Speaker 12: taking a little time to organize your finances can make

441
00:23:50,960 --> 00:23:53,080
Speaker 12: everything feel lighter and more manageable.

442
00:23:53,160 --> 00:23:55,280
Speaker 11: Well said, that's going to wrap things up. If you

443
00:23:55,440 --> 00:23:57,880
Speaker 11: like help getting your financial house in order, this Sprink

444
00:23:58,080 --> 00:23:59,480
Speaker 11: give us a call. We'd be happy to help.

445
00:23:59,600 --> 00:24:02,680
Speaker 12: Absolute Thanks Greg, and have a great weekend.

446
00:24:03,040 --> 00:24:05,880
Speaker 3: To get in touch with Greg Murray or Mary, Madeline

447
00:24:05,960 --> 00:24:09,520
Speaker 3: Kelly or any member of the Kelly Financial Team Call

448
00:24:09,720 --> 00:24:17,520
Speaker 3: eight eight eight eight hundred, eighteen eighty one Safe Money

449
00:24:17,560 --> 00:24:21,879
Speaker 3: Strategies with William Kelly and Kelly Kelly. Call the team

450
00:24:21,960 --> 00:24:33,760
Speaker 3: on eight eight eight hundred, eighteen eighty one.

451
00:24:26,600 --> 00:24:34,119
Speaker 4: And welcome back to Save Money Strategies. Kelly Kelly here

452
00:24:34,119 --> 00:24:38,920
Speaker 4: with Kelly Financial, and as always I'm joined by my son,

453
00:24:39,200 --> 00:24:43,040
Speaker 4: William Kelly Junior. Great to be her mom, William. Today

454
00:24:43,080 --> 00:24:47,160
Speaker 4: we're talking about something that a lot of retirees don't

455
00:24:47,200 --> 00:24:51,320
Speaker 4: always think about right away, but it can quietly have

456
00:24:51,400 --> 00:24:56,760
Speaker 4: a big impact on retirement income, and that's falling interest rates.

457
00:24:57,040 --> 00:25:01,320
Speaker 4: For decades, many retirees were told something thing fairly simple.

458
00:25:01,760 --> 00:25:05,440
Speaker 4: When you retire, you move your money into safer investments

459
00:25:05,480 --> 00:25:10,600
Speaker 4: and you live off the interest CDs, savings accounts, bonds.

460
00:25:11,040 --> 00:25:15,320
Speaker 4: That approach worked well in certain environments, but the challenge

461
00:25:15,560 --> 00:25:19,720
Speaker 4: is that interest rates don't stay the same forever. They

462
00:25:19,760 --> 00:25:23,080
Speaker 4: move in cycles, and when rates begin to follow, the

463
00:25:23,240 --> 00:25:27,800
Speaker 4: income that those investments produce can change pretty quickly.

464
00:25:27,880 --> 00:25:32,120
Speaker 2: Exactly, and that's something people sometimes overlook. If someone bought

465
00:25:32,160 --> 00:25:34,640
Speaker 2: a CD a few years ago and it was paying

466
00:25:34,680 --> 00:25:37,480
Speaker 2: a certain rate, when that CD matures and rolls over

467
00:25:37,560 --> 00:25:40,480
Speaker 2: into a lower rate environment, Suddenly the income can look

468
00:25:40,560 --> 00:25:44,520
Speaker 2: very different. The retiree didn't necessarily lose money, but the

469
00:25:44,520 --> 00:25:47,680
Speaker 2: income stream they were expecting is shrink, and when someone

470
00:25:47,720 --> 00:25:50,440
Speaker 2: is depending on that income to help support their lifestyle,

471
00:25:50,840 --> 00:25:53,159
Speaker 2: that change can feel significant.

472
00:25:52,720 --> 00:25:56,639
Speaker 4: And it can create anxiety if the retirement plan wasn't

473
00:25:56,640 --> 00:26:01,239
Speaker 4: built with flexibility in mind. Because retirement today isn't a

474
00:26:01,280 --> 00:26:06,040
Speaker 4: short period of time. Many people will spend twenty, twenty five,

475
00:26:06,240 --> 00:26:09,920
Speaker 4: even thirty years in retirement. Over that length of time,

476
00:26:10,119 --> 00:26:13,840
Speaker 4: we're going to see all kinds of economic cycles. Interest

477
00:26:13,960 --> 00:26:18,560
Speaker 4: rates will rise, interest rates will fall, markets will move

478
00:26:18,720 --> 00:26:21,919
Speaker 4: up and down. So the real goal of a retirement

479
00:26:22,000 --> 00:26:25,639
Speaker 4: plan isn't to predict exactly what the economy will do.

480
00:26:26,200 --> 00:26:29,400
Speaker 4: The goal is to design a plan that can adapt

481
00:26:29,560 --> 00:26:31,200
Speaker 4: when those changes happen.

482
00:26:31,520 --> 00:26:34,480
Speaker 2: And something else that's important to understand is that spending

483
00:26:34,520 --> 00:26:37,800
Speaker 2: in retirement isn't always constant. A lot of people imagine

484
00:26:37,840 --> 00:26:40,800
Speaker 2: retirement as a straight line where expenses stay exactly the

485
00:26:40,840 --> 00:26:45,720
Speaker 2: same every year, but in reality, retirement often evolves in phases.

486
00:26:46,359 --> 00:26:49,800
Speaker 2: Early retirement can be very active. People travel more, they

487
00:26:49,880 --> 00:26:52,880
Speaker 2: visit family, They pursue hobbies they didn't have time for

488
00:26:52,960 --> 00:26:53,879
Speaker 2: while they were working.

489
00:26:54,119 --> 00:26:58,760
Speaker 4: That's true, Those early retirement years can be wonderful years

490
00:26:59,160 --> 00:27:02,200
Speaker 4: people find have time to do the things they've been

491
00:27:02,240 --> 00:27:07,160
Speaker 4: looking forward to for decades, But as retirement continues, spending

492
00:27:07,200 --> 00:27:11,840
Speaker 4: patterns often shift. Later in retirement, many people become a

493
00:27:11,960 --> 00:27:17,960
Speaker 4: little more home centered, travel slows down, daily routines change,

494
00:27:18,280 --> 00:27:23,600
Speaker 4: and spending sometimes decreases naturally over time. But if interest

495
00:27:23,760 --> 00:27:30,040
Speaker 4: income declines unexpectedly, retirees may feel pressure sooner than they expected,

496
00:27:30,359 --> 00:27:33,320
Speaker 4: and that's why it's so important for a retirement plan

497
00:27:33,480 --> 00:27:37,399
Speaker 4: to consider multiple economic environments over time.

498
00:27:37,840 --> 00:27:41,720
Speaker 2: Another area where economic conditions can influence retirement is housing.

499
00:27:42,080 --> 00:27:45,359
Speaker 2: For many retirees, their home is both their largest asset

500
00:27:45,480 --> 00:27:49,960
Speaker 2: and one of their largest expenses property taxes, insurance, maintenance.

501
00:27:50,240 --> 00:27:53,800
Speaker 2: Those costs can change over time, and when income sources shift,

502
00:27:54,040 --> 00:27:57,960
Speaker 2: housing decisions sometimes become an important part of the planning conversation.

503
00:27:58,400 --> 00:28:02,440
Speaker 4: That's right. In many parts of the country, home values

504
00:28:02,520 --> 00:28:06,880
Speaker 4: have increased significantly over the past several decades, but that

505
00:28:07,000 --> 00:28:12,520
Speaker 4: doesn't always mean housing costs feel easier for retirees. Sometimes

506
00:28:12,560 --> 00:28:16,760
Speaker 4: those costs rise as well, and for some families, housing

507
00:28:16,880 --> 00:28:23,080
Speaker 4: decisions become part of maintaining financial flexibility in retirement. Whether

508
00:28:23,280 --> 00:28:29,000
Speaker 4: it means downsizing, relocating, or simply making sure housing expenses

509
00:28:29,119 --> 00:28:34,720
Speaker 4: remain manageable. Because retirement planning isn't just about investments. It's

510
00:28:34,760 --> 00:28:38,160
Speaker 4: about how all these pieces of life fit together.

511
00:28:38,560 --> 00:28:41,760
Speaker 2: And there's another piece that people sometimes overlook, and that's

512
00:28:41,840 --> 00:28:45,840
Speaker 2: lifestyle and social connection. When people retire, they often lose

513
00:28:45,880 --> 00:28:47,280
Speaker 2: the daily interaction.

514
00:28:46,880 --> 00:28:47,960
Speaker 5: They have through their work.

515
00:28:48,720 --> 00:28:52,520
Speaker 2: Suddenly the routine changes, and research shows that loneliness and

516
00:28:52,600 --> 00:28:55,760
Speaker 2: isolation have become a growing issue among older adults.

517
00:28:56,120 --> 00:28:59,480
Speaker 4: Yes, and that's why when you look at communities around

518
00:28:59,480 --> 00:29:04,080
Speaker 4: the world where people live long, healthy lives, you often

519
00:29:04,200 --> 00:29:12,920
Speaker 4: see something very consistent. Strong relationships, family connections, friendships, community involvement.

520
00:29:13,520 --> 00:29:17,200
Speaker 4: These things matter a great deal for overall well being.

521
00:29:17,800 --> 00:29:22,600
Speaker 4: So retirement success isn't just about financial numbers. It's also

522
00:29:22,720 --> 00:29:27,120
Speaker 4: about designing a life that stays meaningful and connected.

523
00:29:27,440 --> 00:29:29,920
Speaker 2: And if you're thinking about how things like interest rates,

524
00:29:30,040 --> 00:29:33,200
Speaker 2: income sources, and long term spending could affect your retirement,

525
00:29:33,520 --> 00:29:36,040
Speaker 2: we do have one of our investor guides that covers

526
00:29:36,080 --> 00:29:37,120
Speaker 2: this in more detail.

527
00:29:37,440 --> 00:29:42,040
Speaker 4: That's right, it's called Guard your Golden Years. In this guide,

528
00:29:42,080 --> 00:29:45,440
Speaker 4: we talk about some of the risks that can quietly

529
00:29:45,560 --> 00:29:50,920
Speaker 4: affect retirement over time, things like changes in interest rates,

530
00:29:51,400 --> 00:29:56,880
Speaker 4: shifting income sources, housing decisions, and the importance of maintaining

531
00:29:56,960 --> 00:30:02,920
Speaker 4: long term flexibility and a financial plan. Because retirement isn't static.

532
00:30:03,400 --> 00:30:09,080
Speaker 4: The economy changes, markets change, life changes, and having a

533
00:30:09,120 --> 00:30:13,200
Speaker 4: strategy that can adjust over time can make a meaningful

534
00:30:13,280 --> 00:30:18,400
Speaker 4: difference in how comfortable retirement feels. At Kelly Financial, we

535
00:30:18,480 --> 00:30:22,760
Speaker 4: spend a lot of time helping families evaluate how changing

536
00:30:23,000 --> 00:30:27,840
Speaker 4: economic conditions may affect their retirement plans and their long

537
00:30:27,960 --> 00:30:32,360
Speaker 4: term financial outlook, and our goal is always to help

538
00:30:32,400 --> 00:30:37,240
Speaker 4: people move forward feeling more informed and more confident about

539
00:30:37,280 --> 00:30:37,960
Speaker 4: their future.

540
00:30:38,320 --> 00:30:41,040
Speaker 2: If you'd like a complimentary copy of The Guide Guard

541
00:30:41,080 --> 00:30:43,360
Speaker 2: your Golden Years, we'd be happy to send one to you.

542
00:30:43,920 --> 00:30:45,720
Speaker 2: Just give us a call at eight eight eight eight

543
00:30:45,800 --> 00:30:47,080
Speaker 2: hundred one eighty one.

544
00:30:47,320 --> 00:30:50,880
Speaker 4: Again that number is eight eight eight eight hundred eighteen

545
00:30:50,960 --> 00:30:55,160
Speaker 4: eighty one, or you can email us at Kelly at

546
00:30:55,240 --> 00:30:59,760
Speaker 4: Kellyfinancial dot org and we'll make sure a copy gets

547
00:31:00,440 --> 00:31:00,800
Speaker 4: to you.

548
00:31:01,240 --> 00:31:03,680
Speaker 2: When we come back, we'll talk about what retirees can

549
00:31:03,720 --> 00:31:06,360
Speaker 2: actually do when interest rates begin to fall, and how

550
00:31:06,400 --> 00:31:09,840
Speaker 2: thoughtful planning can help keep retirement income study even when

551
00:31:09,880 --> 00:31:11,480
Speaker 2: economic conditions change.

552
00:31:11,880 --> 00:31:14,160
Speaker 1: Stay with us, we'll be right back.

553
00:31:17,280 --> 00:31:21,320
Speaker 3: Safe Money Strategies brought to you by Kelly Financial Services.

554
00:31:21,560 --> 00:31:25,360
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

555
00:31:25,440 --> 00:31:27,360
Speaker 3: visit Kellyfinancial dot org.

556
00:31:27,600 --> 00:31:33,080
Speaker 10: There's nothing like running the Boston Marathon mark. Even before

557
00:31:33,160 --> 00:31:36,720
Speaker 10: crossing the start line, you must spend months planning in advance,

558
00:31:37,080 --> 00:31:41,040
Speaker 10: training your body, becoming familiar with the terrain, preparing for

559
00:31:41,120 --> 00:31:45,760
Speaker 10: all weather conditions, adjusting fuel and hydration, and testing your gear.

560
00:31:46,560 --> 00:31:50,760
Speaker 10: Many runners visualize their race, setting that personal record and

561
00:31:50,800 --> 00:31:55,440
Speaker 10: seeing themselves finishing strong. When it comes to your retirement,

562
00:31:55,640 --> 00:31:59,520
Speaker 10: what do you see? How fulfilling retirement requires the same

563
00:31:59,640 --> 00:32:04,440
Speaker 10: kind of planning, preparing, adjusting, testing, and goal setting as

564
00:32:04,480 --> 00:32:08,320
Speaker 10: for a marathon. Let the retirement coaches at Kelly Financial

565
00:32:08,400 --> 00:32:11,760
Speaker 10: Services help you cross the finish line in the greatest

566
00:32:11,840 --> 00:32:14,360
Speaker 10: race of your life. So call eight eight eight eight

567
00:32:14,520 --> 00:32:18,840
Speaker 10: hundred eighteen eighty one or visit Kellyfinancial dot org. When

568
00:32:18,920 --> 00:32:23,440
Speaker 10: your mark get set, go to Kelly Financial Services. Come

569
00:32:23,520 --> 00:32:24,320
Speaker 10: retire with.

570
00:32:24,400 --> 00:32:31,360
Speaker 3: Us Safe Money Strategies with William Kelly and Kelly Kelly.

571
00:32:31,600 --> 00:32:37,000
Speaker 3: Call the team on eight eight eight hundred eighteen eighty one, Thank.

572
00:32:36,840 --> 00:32:43,280
Speaker 4: In care and welcome back to save Money Strategies. Kelly

573
00:32:43,400 --> 00:32:47,520
Speaker 4: Kelly here with Kelly Financial Services along with my son

574
00:32:47,680 --> 00:32:51,479
Speaker 4: William Kelly Junior. Before the break, we were talking about

575
00:32:51,520 --> 00:32:57,360
Speaker 4: how falling interest rates can quietly affect retirement income, especially

576
00:32:57,440 --> 00:33:01,720
Speaker 4: for people who have traditionally relied on things like CDs,

577
00:33:02,280 --> 00:33:07,360
Speaker 4: bonds or savings accounts. So William, let's talk about the

578
00:33:07,480 --> 00:33:12,360
Speaker 4: practical side of this. When interest rates start to move lower,

579
00:33:12,960 --> 00:33:16,000
Speaker 4: what should retirees actually be thinking about.

580
00:33:16,280 --> 00:33:19,200
Speaker 2: Well, the first thing is not to panic. Interest rates

581
00:33:19,200 --> 00:33:22,040
Speaker 2: have always moved in cycles. We've had periods where rates

582
00:33:22,040 --> 00:33:24,440
Speaker 2: were very high, periods where they were very low, and

583
00:33:24,520 --> 00:33:27,920
Speaker 2: periods somewhere in between. So falling rates are not unusual.

584
00:33:28,040 --> 00:33:31,120
Speaker 2: They're simply part of the economic cycle. But what retirees

585
00:33:31,160 --> 00:33:33,640
Speaker 2: want to avoid is having too much of their retirement

586
00:33:33,680 --> 00:33:37,240
Speaker 2: plan dependent on any single income source, because when one

587
00:33:37,240 --> 00:33:40,520
Speaker 2: piece changes, like interest income, it can affect the whole

588
00:33:40,560 --> 00:33:42,480
Speaker 2: picture if the plan isn't diversified.

589
00:33:42,760 --> 00:33:48,280
Speaker 4: That's exactly right. A well designed retirement plan usually includes

590
00:33:48,480 --> 00:33:54,160
Speaker 4: multiple sources of income working together. For example, many retirees

591
00:33:54,400 --> 00:33:59,400
Speaker 4: will have social Security, some may have a pension, others

592
00:33:59,480 --> 00:34:04,000
Speaker 4: may have investment income, and often there are different types

593
00:34:04,080 --> 00:34:08,480
Speaker 4: of investment serving different roles within the overall plan. The

594
00:34:08,520 --> 00:34:11,960
Speaker 4: goal is not to rely on just one source, but

595
00:34:12,120 --> 00:34:15,720
Speaker 4: to create a combination of income streams that can help

596
00:34:15,760 --> 00:34:17,600
Speaker 4: support retirement over time.

597
00:34:18,000 --> 00:34:20,359
Speaker 2: Another thing retire you should think about is the role

598
00:34:20,400 --> 00:34:23,799
Speaker 2: of growth within their portfolio. Sometimes people assume that when

599
00:34:23,800 --> 00:34:26,880
Speaker 2: they retire they should move completely away from growth investments,

600
00:34:27,239 --> 00:34:30,480
Speaker 2: but if retirement lasts twenty or thirty years, inflation and

601
00:34:30,560 --> 00:34:34,000
Speaker 2: rising costs can still affect purchasing power over time, so

602
00:34:34,120 --> 00:34:37,160
Speaker 2: maintaining some level of growth potential may still play an

603
00:34:37,160 --> 00:34:40,040
Speaker 2: important role with a long term investment strategy.

604
00:34:40,360 --> 00:34:44,640
Speaker 4: That's an important point because retirement planning isn't just about

605
00:34:44,680 --> 00:34:50,160
Speaker 4: growing assets. It's about helping those assets last, and that's

606
00:34:50,239 --> 00:34:54,839
Speaker 4: where balance becomes important. Some parts of a portfolio may

607
00:34:54,880 --> 00:34:59,400
Speaker 4: be designed for stability, other parts may be designed for growth,

608
00:34:59,600 --> 00:35:04,480
Speaker 4: and the right balance often depends on a person's individual goals,

609
00:35:05,000 --> 00:35:08,520
Speaker 4: time horizon, and overall financial situation.

610
00:35:08,960 --> 00:35:12,800
Speaker 2: Another area of retireees sometimes overlook is the withdrawal strategy,

611
00:35:13,200 --> 00:35:16,080
Speaker 2: in other words, where income is actually coming from each year.

612
00:35:16,280 --> 00:35:20,040
Speaker 2: Because when interest rates fall, retirees sometimes begin withdrawing more

613
00:35:20,080 --> 00:35:23,200
Speaker 2: from certain accounts than they originally expected, and if that

614
00:35:23,280 --> 00:35:26,360
Speaker 2: isn't done thoughtfully, it can affect how long those assets last,

615
00:35:26,920 --> 00:35:29,960
Speaker 2: so having a clear strategy for how withdrawals happen and

616
00:35:30,040 --> 00:35:32,759
Speaker 2: which accounts they come from can be very important.

617
00:35:33,000 --> 00:35:36,880
Speaker 4: Yes, and that's something we talk about with families quite often.

618
00:35:37,360 --> 00:35:42,680
Speaker 4: Retirement planning isn't just about investments themselves. It's also about

619
00:35:42,800 --> 00:35:49,920
Speaker 4: how those investments are used over time. When income sources change, adjustments.

620
00:35:49,080 --> 00:35:50,839
Speaker 5: May need to be made, and.

621
00:35:50,880 --> 00:35:55,719
Speaker 4: Sometimes relatively small adjustments can make a meaningful difference over

622
00:35:55,760 --> 00:35:56,720
Speaker 4: the long term.

623
00:35:57,040 --> 00:36:00,839
Speaker 2: Another factor retire should keep in mind is flexibility. The

624
00:36:00,880 --> 00:36:04,360
Speaker 2: most successful retirement plans tend to allow for adjustments along

625
00:36:04,400 --> 00:36:09,120
Speaker 2: the way. Maybe spending changes slightly, maybe investment allocation shift,

626
00:36:09,800 --> 00:36:14,200
Speaker 2: maybe certain financial decisions are revisited as life evolves. Retirement

627
00:36:14,280 --> 00:36:17,799
Speaker 2: isn't static. It's something that unfolds over time.

628
00:36:17,800 --> 00:36:21,440
Speaker 4: And that's why having guidance along the way can be helpful,

629
00:36:21,600 --> 00:36:25,919
Speaker 4: because retirement planning isn't something people do once and never

630
00:36:26,000 --> 00:36:32,400
Speaker 4: think about again. Economic conditions change, interest rates change, tax

631
00:36:32,520 --> 00:36:37,560
Speaker 4: laws change, and life circumstances can change as well. So

632
00:36:37,680 --> 00:36:41,520
Speaker 4: reviewing a retirement plan periodically can help make sure it

633
00:36:41,560 --> 00:36:45,200
Speaker 4: continues to reflect someone's goals and priorities.

634
00:36:45,400 --> 00:36:48,440
Speaker 2: And the encouraging news is that falling interest rates don't

635
00:36:48,440 --> 00:36:52,080
Speaker 2: have to derail retirement plans. What matters most is having

636
00:36:52,120 --> 00:36:56,040
Speaker 2: a thoughtful strategy that considers multiple possible scenarios over time.

637
00:36:56,400 --> 00:37:00,360
Speaker 4: Exactly because while no one can control what is interest

638
00:37:00,440 --> 00:37:03,960
Speaker 4: rates or markets will do in the future, people can

639
00:37:04,080 --> 00:37:08,160
Speaker 4: control how prepared they are, and having a plan that

640
00:37:08,320 --> 00:37:12,640
Speaker 4: is designed to adapt to changing conditions can make retirement

641
00:37:12,760 --> 00:37:14,240
Speaker 4: feel far more secure.

642
00:37:14,440 --> 00:37:16,040
Speaker 2: And if you'd like to learn more about some of

643
00:37:16,040 --> 00:37:19,279
Speaker 2: the risks that can affect retirement planning, including things like

644
00:37:19,360 --> 00:37:23,120
Speaker 2: interest rates, income planning, and long term flexibility, we do

645
00:37:23,200 --> 00:37:25,719
Speaker 2: have one of our investor guides available called Guard your

646
00:37:25,719 --> 00:37:26,520
Speaker 2: Golden Years.

647
00:37:26,760 --> 00:37:30,399
Speaker 4: The guide walks through several of the factors that can

648
00:37:30,520 --> 00:37:35,120
Speaker 4: influence retirement over time and how thoughtful planning may help

649
00:37:35,200 --> 00:37:39,880
Speaker 4: families navigate those changes. If you'd like a complementary copy,

650
00:37:40,080 --> 00:37:42,560
Speaker 4: just give us a call at eight eight eight eight

651
00:37:42,640 --> 00:37:44,319
Speaker 4: hundred eighteen eighty one.

652
00:37:44,600 --> 00:37:47,239
Speaker 2: Again, that number is eighty eight eight eight hundred.

653
00:37:47,120 --> 00:37:49,879
Speaker 4: One eight eight one, or you can email us at

654
00:37:50,000 --> 00:37:54,239
Speaker 4: Kelly at Kellyfinancial dot org and we'll make sure that

655
00:37:54,360 --> 00:37:56,080
Speaker 4: copy gets right out to you.

656
00:37:56,360 --> 00:37:59,360
Speaker 2: Planning ahead and staying flexible can make a meaningful difference

657
00:37:59,360 --> 00:38:00,840
Speaker 2: as people move through retirement.

658
00:38:01,200 --> 00:38:05,160
Speaker 4: Absolutely, and that's one of these conversations are so important.

659
00:38:05,520 --> 00:38:09,439
Speaker 4: We'll be right back with more safe money strategies right

660
00:38:09,520 --> 00:38:12,919
Speaker 4: here on WRKO.

661
00:38:14,280 --> 00:38:18,399
Speaker 3: Safe Money Strategies brought to you by Kelly Financial Services.

662
00:38:18,600 --> 00:38:22,360
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

663
00:38:22,440 --> 00:38:24,440
Speaker 3: visit Kellyfinancial dot org.

664
00:38:25,920 --> 00:38:28,319
Speaker 8: Welcome back to Safe Money Strategies. I'm Mike du Said

665
00:38:28,360 --> 00:38:31,120
Speaker 8: here with Greg Workman, and today we're talking about the

666
00:38:31,200 --> 00:38:35,600
Speaker 8: three stages of retirement, the go go years, the slowgo years,

667
00:38:35,640 --> 00:38:38,400
Speaker 8: and the no go years. Before the break, we spend

668
00:38:38,400 --> 00:38:41,280
Speaker 8: some time discussing the go go years. That's the early

669
00:38:41,320 --> 00:38:44,200
Speaker 8: stage of retirement when people tend to be the most active,

670
00:38:44,320 --> 00:38:48,160
Speaker 8: traveling more, pursuing hobbies, spending time with family, and really

671
00:38:48,239 --> 00:38:50,600
Speaker 8: enjoying the freedom they work so many years to earn.

672
00:38:50,960 --> 00:38:53,120
Speaker 1: But retirement doesn't stay the same forever.

673
00:38:53,480 --> 00:38:57,239
Speaker 8: As the years go by, lifestyles and spending patterns tend

674
00:38:57,320 --> 00:39:00,520
Speaker 8: to evolve. Greg, let's talk about the set in phase

675
00:39:00,520 --> 00:39:04,720
Speaker 8: of retirement, which planners often refer to as the slogo years.

676
00:39:04,920 --> 00:39:05,719
Speaker 1: That's right, Mike.

677
00:39:06,239 --> 00:39:11,240
Speaker 9: The slogo years typically occur later on in retirement, often

678
00:39:11,360 --> 00:39:16,040
Speaker 9: somewhere in the mid seventies. Into the early eighties, although

679
00:39:16,040 --> 00:39:19,680
Speaker 9: it's different for everybody. During this phase, people are still

680
00:39:19,719 --> 00:39:22,520
Speaker 9: active and engaged, but the pace of life tends to

681
00:39:22,640 --> 00:39:26,440
Speaker 9: slow down a little bit. For example, many retirees find

682
00:39:26,520 --> 00:39:29,839
Speaker 9: that they're traveling less frequently than they did in their

683
00:39:29,880 --> 00:39:34,600
Speaker 9: early retirement years. Instead of taking multiple big trips each year,

684
00:39:34,920 --> 00:39:37,800
Speaker 9: they might take one trip or focus more on spending

685
00:39:37,880 --> 00:39:42,000
Speaker 9: time closer to home. Activities may shift as well. Maybe

686
00:39:42,040 --> 00:39:44,880
Speaker 9: someone who was golfing three to four times a week

687
00:39:45,280 --> 00:39:49,000
Speaker 9: in their late sixties now plays golf once a week.

688
00:39:49,400 --> 00:39:53,440
Speaker 9: Travel may become shorter or less physically demanding. It's not

689
00:39:53,560 --> 00:39:57,319
Speaker 9: that life stops being enjoyable, it just becomes a little

690
00:39:57,360 --> 00:39:59,120
Speaker 9: more relaxed and predictable.

691
00:39:59,320 --> 00:40:02,720
Speaker 8: And from a f financial perspective, this stage often brings

692
00:40:02,719 --> 00:40:05,960
Speaker 8: a change in spending patterns. During the go go years,

693
00:40:06,120 --> 00:40:10,279
Speaker 8: retirees might spend more on travel, entertainment, and experiences, but

694
00:40:10,360 --> 00:40:14,120
Speaker 8: in this logo years, many of those discretionary expenses naturally

695
00:40:14,160 --> 00:40:17,000
Speaker 8: start to taper off. People are still living comfortably, but

696
00:40:17,120 --> 00:40:19,279
Speaker 8: they may not be spending at quite the same pace

697
00:40:19,320 --> 00:40:21,600
Speaker 8: they did earlier in retirement exactly.

698
00:40:21,640 --> 00:40:24,360
Speaker 9: This is something we see reflected in a lot of

699
00:40:24,440 --> 00:40:29,680
Speaker 9: real world retirement data. When researchers study retiree spending habits,

700
00:40:30,040 --> 00:40:34,800
Speaker 9: they often find that overall spending tends to gradually decline

701
00:40:35,239 --> 00:40:39,560
Speaker 9: as people move through retirement. There can be exceptions, of course,

702
00:40:40,080 --> 00:40:43,840
Speaker 9: but in general, many households spend the most during the

703
00:40:43,920 --> 00:40:48,080
Speaker 9: early retirement years and then slowly reduce spending over the

704
00:40:48,080 --> 00:40:50,600
Speaker 9: course of time. That's one of the reasons why it

705
00:40:50,600 --> 00:40:53,920
Speaker 9: can make sense to build a retirement plan that reflects

706
00:40:53,920 --> 00:40:55,080
Speaker 9: that pattern now.

707
00:40:55,120 --> 00:41:00,000
Speaker 8: Eventually, retirement enters the third stage, often called the Nogo years,

708
00:40:59,719 --> 00:41:02,480
Speaker 8: and while the name might sound a little dramatic, it

709
00:41:02,600 --> 00:41:05,920
Speaker 8: simply reflects the reality that later in life, people often

710
00:41:05,960 --> 00:41:10,839
Speaker 8: slow down significantly. Travel may stop entirely, physical limitations might

711
00:41:10,880 --> 00:41:12,560
Speaker 8: make certain activities more difficult.

712
00:41:13,000 --> 00:41:14,160
Speaker 1: People tend to spend more.

713
00:41:14,080 --> 00:41:18,120
Speaker 8: Time at home and rely more on family members or caregivers.

714
00:41:17,560 --> 00:41:21,320
Speaker 9: And from a financial planning perspective, this is when healthcare

715
00:41:21,360 --> 00:41:25,840
Speaker 9: expenses can become a bigger part of the conversation. Medical costs,

716
00:41:26,000 --> 00:41:29,720
Speaker 9: prescription drugs, and potential long term care needs are things

717
00:41:29,800 --> 00:41:33,280
Speaker 9: that many retirees need to think about during this stage

718
00:41:33,320 --> 00:41:36,640
Speaker 9: of life, but it's important to remember that while healthcare

719
00:41:36,640 --> 00:41:43,440
Speaker 9: expenses may increase, other categories of spending often decrease. For example,

720
00:41:43,760 --> 00:41:47,200
Speaker 9: someone may no longer be traveling, dining out frequently, or

721
00:41:47,239 --> 00:41:49,840
Speaker 9: spending money on hobbies the way they once did. So

722
00:41:50,080 --> 00:41:54,960
Speaker 9: overall spending may still remain manageable if it's planned for properly.

723
00:41:55,160 --> 00:41:57,600
Speaker 8: And this really brings us back to why understanding the

724
00:41:57,640 --> 00:42:00,359
Speaker 8: three stages of retirement can be so valid. But when

725
00:42:00,360 --> 00:42:03,399
Speaker 8: building a financial plan, if someone assumes they're spending will

726
00:42:03,400 --> 00:42:06,279
Speaker 8: remain exactly the same for the next thirty years, they

727
00:42:06,360 --> 00:42:11,319
Speaker 8: may either underestimate certain costs or unnecessarily restrict themselves early

728
00:42:11,360 --> 00:42:14,600
Speaker 8: in retirement. But when you recognize that retirement tends to

729
00:42:14,640 --> 00:42:17,680
Speaker 8: evolve over time, it becomes easier to build a strategy

730
00:42:17,680 --> 00:42:18,800
Speaker 8: that reflects real life.

731
00:42:18,920 --> 00:42:21,960
Speaker 9: Let me give another quick hypothetical example. Let's say we

732
00:42:22,040 --> 00:42:26,600
Speaker 9: meet with a couple, again a hypothetical example for illustration purposes.

733
00:42:27,040 --> 00:42:29,920
Speaker 9: We'll call them Mark and Lenda. They're both sixty six

734
00:42:30,040 --> 00:42:34,160
Speaker 9: years old and recently retired. They've saved diligently throughout their

735
00:42:34,200 --> 00:42:37,480
Speaker 9: careers and they have built a solid nesting But when

736
00:42:37,520 --> 00:42:41,280
Speaker 9: we first sit down with them, they're extremely cautious about

737
00:42:41,320 --> 00:42:44,840
Speaker 9: how they're spending money. They say things like, we're not

738
00:42:45,200 --> 00:42:49,200
Speaker 9: sure that we should travel right now, or maybe we

739
00:42:49,239 --> 00:42:51,759
Speaker 9: should wait a few years before doing some of the

740
00:42:51,800 --> 00:42:53,120
Speaker 9: things that we've talked about.

741
00:42:53,200 --> 00:42:55,480
Speaker 8: And when we ask why, the answer is something we

742
00:42:55,520 --> 00:42:58,520
Speaker 8: hear pretty frequently. They're worried about running out of money

743
00:42:58,560 --> 00:43:01,080
Speaker 8: later in life, so they stop retirement by doing the

744
00:43:01,120 --> 00:43:04,560
Speaker 8: opposite of what many people imagine. They restrict themselves and

745
00:43:04,600 --> 00:43:07,120
Speaker 8: delay some of the experiences they were looking forward to.

746
00:43:07,440 --> 00:43:10,680
Speaker 9: This is where the planning process can really help. When

747
00:43:10,719 --> 00:43:13,640
Speaker 9: we build a retirement projection from Mark and Linda, we

748
00:43:13,840 --> 00:43:18,439
Speaker 9: model different spending stages, higher spending early in retirement during

749
00:43:18,480 --> 00:43:23,000
Speaker 9: the go go years, gradually tapering the spending during the

750
00:43:23,120 --> 00:43:26,840
Speaker 9: slowgo years, and then factoring in potential health care costs

751
00:43:27,280 --> 00:43:30,200
Speaker 9: later on down the road. When they see that their

752
00:43:30,239 --> 00:43:34,839
Speaker 9: financial plan can support those stages, it often gives them

753
00:43:34,960 --> 00:43:39,120
Speaker 9: a lot more confidence. Instead of postponing the things that

754
00:43:39,160 --> 00:43:43,560
Speaker 9: they enjoy, they realize that they can actually embrace those

755
00:43:43,680 --> 00:43:45,680
Speaker 9: in the early retirement years.

756
00:43:46,080 --> 00:43:48,919
Speaker 8: And that's really the goal of retirement planning, to give

757
00:43:48,920 --> 00:43:52,960
Speaker 8: people clarity and confidence. You spend decades saving and preparing

758
00:43:53,000 --> 00:43:55,479
Speaker 8: for retirement. The last thing you want is to reach

759
00:43:55,520 --> 00:43:58,040
Speaker 8: that point and then feel afraid to enjoy it. A

760
00:43:58,080 --> 00:44:02,200
Speaker 8: well designed retirement plan should help you understand how your income, savings,

761
00:44:02,239 --> 00:44:05,840
Speaker 8: and investments can support you through every stage of retirement.

762
00:44:05,520 --> 00:44:09,040
Speaker 9: Exactly, and for many people, the first step toward building

763
00:44:09,040 --> 00:44:11,960
Speaker 9: that kind of plan is simply learning more about the

764
00:44:11,960 --> 00:44:16,240
Speaker 9: strategies that can help protect and organize their retirement income.

765
00:44:16,360 --> 00:44:18,080
Speaker 8: If you'd like to learn more about many of the

766
00:44:18,120 --> 00:44:20,840
Speaker 8: concepts we discuss on this show, we've put together a

767
00:44:20,880 --> 00:44:23,520
Speaker 8: resource called the Safe Money Strategies Workbook.

768
00:44:23,680 --> 00:44:25,200
Speaker 1: This workbook walks through.

769
00:44:25,040 --> 00:44:27,160
Speaker 8: Some of the key ideas that can help people think

770
00:44:27,239 --> 00:44:30,879
Speaker 8: more clearly about retirement income, risk management, and long term

771
00:44:30,920 --> 00:44:34,040
Speaker 8: financial planning. If you're within five to ten years of retirement,

772
00:44:34,400 --> 00:44:36,719
Speaker 8: or you've already retired and want to make sure your

773
00:44:36,760 --> 00:44:38,759
Speaker 8: plan is on the right track, this can be a

774
00:44:38,800 --> 00:44:39,880
Speaker 8: helpful starting point.

775
00:44:39,960 --> 00:44:43,759
Speaker 9: To request your copy of the Safe Money Strategies Workbook,

776
00:44:43,960 --> 00:44:46,520
Speaker 9: simply reach out to our office and we will be

777
00:44:46,640 --> 00:44:47,839
Speaker 9: happy to send one to you.

778
00:44:47,960 --> 00:44:50,880
Speaker 8: We hope today's conversation about the three Stages of retirement,

779
00:44:50,960 --> 00:44:54,000
Speaker 8: Go go, slogo and Nogo helps you think a little

780
00:44:54,000 --> 00:44:56,800
Speaker 8: differently about how retirement planning really works.

781
00:44:56,960 --> 00:44:59,000
Speaker 1: We look forward to talking to you again next week.

782
00:45:02,840 --> 00:45:05,399
Speaker 4: I'm Kelly. Kelly Now that spring is in the air,

783
00:45:05,680 --> 00:45:09,480
Speaker 4: many families are thinking about fresh starts, not just financially,

784
00:45:09,600 --> 00:45:12,680
Speaker 4: but how we prepare the next generation for life. At

785
00:45:12,719 --> 00:45:16,320
Speaker 4: Kelly Financial, our work has always been about helping families

786
00:45:16,360 --> 00:45:20,320
Speaker 4: make thoughtful long term decisions, including how the next generation

787
00:45:20,440 --> 00:45:23,880
Speaker 4: gets started. And while all investing involves risk, including the

788
00:45:23,920 --> 00:45:27,960
Speaker 4: potential loss of principle, we believe education and good habits

789
00:45:28,000 --> 00:45:31,239
Speaker 4: are the foundation for smart choices over time. That's why

790
00:45:31,280 --> 00:45:34,560
Speaker 4: we're offering Only the Good invest Young, a book written

791
00:45:34,600 --> 00:45:38,200
Speaker 4: by my son, William Kelly Junior. It's a clear, encouraging

792
00:45:38,239 --> 00:45:41,520
Speaker 4: guide to the basics of money, responsibility and habits that

793
00:45:41,600 --> 00:45:44,600
Speaker 4: matter over time. If you have a child, a grandchild,

794
00:45:44,719 --> 00:45:47,880
Speaker 4: for someone just beginning, this is a thoughtful place to start.

795
00:45:48,040 --> 00:45:52,160
Speaker 4: We're offering a complimentary signed copy to our WRKO listeners

796
00:45:52,160 --> 00:45:55,120
Speaker 4: and clients. Call eight eight eight eight hundred and eighteen

797
00:45:55,160 --> 00:45:58,800
Speaker 4: eighty one or email Kellie at Kellyfinancial dot org.

798
00:46:01,080 --> 00:46:05,520
Speaker 7: Joining us now as she always does at this time.

799
00:46:06,000 --> 00:46:10,720
Speaker 7: She is the co founder, CEO, and president of Kelly

800
00:46:10,840 --> 00:46:15,719
Speaker 7: Financial Services, and yes, that is her wonderful.

801
00:46:15,200 --> 00:46:18,239
Speaker 5: Name, Kelly Kelly.

802
00:46:18,520 --> 00:46:24,280
Speaker 4: Kelly, How are you good morning, Jeff I am good.

803
00:46:24,640 --> 00:46:29,360
Speaker 4: We've been talking about something many retirees don't notice right away,

804
00:46:29,800 --> 00:46:34,800
Speaker 4: how falling interest rates can quietly change the way retirement feels.

805
00:46:35,160 --> 00:46:38,399
Speaker 4: For many people, the income they rely on comes from

806
00:46:38,560 --> 00:46:43,399
Speaker 4: saving CDs or bonds, and when interest rates decline, that

807
00:46:43,560 --> 00:46:48,080
Speaker 4: income can shrink faster than expected. Suddenly the nest egg

808
00:46:48,160 --> 00:46:51,200
Speaker 4: they work so hard to build may not generate the

809
00:46:51,280 --> 00:46:55,399
Speaker 4: same monthly support it once did. That doesn't necessarily mean

810
00:46:55,440 --> 00:46:58,920
Speaker 4: your retirement is in trouble, but it does mean retirees

811
00:46:59,080 --> 00:47:03,160
Speaker 4: need clarity and thoughtful planning. That's why we're sharing one

812
00:47:03,160 --> 00:47:06,960
Speaker 4: of our investor guides called Guard your Golden Years. It

813
00:47:07,080 --> 00:47:11,480
Speaker 4: explains some of the challenges retire's face when interest rates

814
00:47:11,600 --> 00:47:15,560
Speaker 4: change and offers insights designed to help you protect your

815
00:47:15,719 --> 00:47:19,799
Speaker 4: income and lifestyle in the years ahead. If you'd like

816
00:47:19,840 --> 00:47:23,680
Speaker 4: a complimentary copy, give us a call or email Kelly

817
00:47:23,719 --> 00:47:28,840
Speaker 4: at Kellyfinancial dot org. Jeff have a wonderful weekend, My best,

818
00:47:28,840 --> 00:47:30,000
Speaker 4: Grace and the kiddos.

819
00:47:30,440 --> 00:47:33,240
Speaker 7: Thank you, Kelly, all the best to you and everyone

820
00:47:33,320 --> 00:47:36,960
Speaker 7: at Kelly Financial. To get a free copy of that guide,

821
00:47:37,000 --> 00:47:38,719
Speaker 7: and I urge all of you, if you can do

822
00:47:38,840 --> 00:47:42,800
Speaker 7: get it call now eight eight eight eight hundred eighteen

823
00:47:42,960 --> 00:47:46,560
Speaker 7: eighty one eight eighty eight eight hundred eighteen eighty one,

824
00:47:47,239 --> 00:47:51,960
Speaker 7: or you can actually email Kelly herself personally Kelly at

825
00:47:52,040 --> 00:47:57,919
Speaker 7: Kellyfinancial dot org. That's Kelly at Kelly Financial dot org.

826
00:48:02,840 --> 00:48:08,239
Speaker 3: Safe Money Strategies eight eight hundred one eight eight one.

827
00:48:10,360 --> 00:48:13,239
Speaker 4: Every week we like to pause for a moment and

828
00:48:13,320 --> 00:48:17,040
Speaker 4: hear a reflection from Bill Kelly. Bill had a wonderful

829
00:48:17,080 --> 00:48:20,160
Speaker 4: way of taking us back to the simple moments that

830
00:48:20,320 --> 00:48:25,520
Speaker 4: shaped who we are. Family responsibility, and the lessons learned

831
00:48:25,719 --> 00:48:30,560
Speaker 4: long before smartphones and screams. In this memory, Bill shares

832
00:48:30,640 --> 00:48:34,200
Speaker 4: what life was like growing up at bailey Brook Farm,

833
00:48:34,239 --> 00:48:37,560
Speaker 4: from paper routes to a well polished Huffey bike, to

834
00:48:37,800 --> 00:48:41,480
Speaker 4: early mornings chickens and the rhythms of a different era.

835
00:48:42,120 --> 00:48:43,320
Speaker 4: Here's Bill Kelly.

836
00:48:47,400 --> 00:48:53,160
Speaker 6: A Huffy bike. A Huffy bike, to me, was about

837
00:48:53,200 --> 00:48:55,920
Speaker 6: the coolest thing a kid could ever have. When I

838
00:48:56,040 --> 00:49:00,080
Speaker 6: was eight, I got a Huffy bike for my paper route,

839
00:49:00,320 --> 00:49:03,080
Speaker 6: and I had dual baskets on the back of that,

840
00:49:03,400 --> 00:49:06,000
Speaker 6: and I used to polish it just like you'd polish

841
00:49:06,040 --> 00:49:08,920
Speaker 6: the finest sports car on earth. To me, it was

842
00:49:09,280 --> 00:49:13,480
Speaker 6: everything that bike, and I would use automobile polish on it.

843
00:49:14,000 --> 00:49:16,239
Speaker 6: I remember some winter nights, I'd be out on the

844
00:49:16,280 --> 00:49:20,440
Speaker 6: porch polishing my huffy bike. I can remember it just

845
00:49:20,520 --> 00:49:24,120
Speaker 6: as clearly as it was yesterday, and making sure the

846
00:49:24,160 --> 00:49:28,200
Speaker 6: gears were oiled and making sure the brakes worked. If

847
00:49:28,239 --> 00:49:31,680
Speaker 6: you could just imagine riding down a snowy street on

848
00:49:31,800 --> 00:49:35,000
Speaker 6: a huffy bike, which was back then a three speed bike,

849
00:49:35,320 --> 00:49:38,600
Speaker 6: in the middle of winter with one hundred and fourteen papers.

850
00:49:39,120 --> 00:49:42,319
Speaker 6: It was very difficult to stop on ice, and what

851
00:49:42,360 --> 00:49:44,399
Speaker 6: would happen is the bike would start to go out

852
00:49:44,440 --> 00:49:47,359
Speaker 6: from under you and it would go sideways, and you'd

853
00:49:47,360 --> 00:49:49,440
Speaker 6: have to try and land on the ground if you

854
00:49:49,520 --> 00:49:53,640
Speaker 6: could upright as the bicycle gave way underneath you. And

855
00:49:53,680 --> 00:49:57,160
Speaker 6: that was the ultimate problem you had trying to get

856
00:49:57,160 --> 00:50:00,440
Speaker 6: one hundred and fourteen papers delivered in the middle of winter.

857
00:50:01,280 --> 00:50:04,560
Speaker 6: People don't believe that there was a bailey Brook farm

858
00:50:04,600 --> 00:50:08,319
Speaker 6: where I grew up because it seems so out of

859
00:50:08,360 --> 00:50:13,560
Speaker 6: sync with what's happening nowadays. The chickens, the dogs, The

860
00:50:13,680 --> 00:50:17,400
Speaker 6: lane that led up to our home was an adventure

861
00:50:17,440 --> 00:50:20,560
Speaker 6: in itself. We knew every bump in that lane by heart,

862
00:50:20,960 --> 00:50:23,799
Speaker 6: and we lived three quarters of a mile from the

863
00:50:23,840 --> 00:50:26,800
Speaker 6: main road. If you can believe that I walked to school.

864
00:50:26,840 --> 00:50:29,480
Speaker 6: It was exactly a mile and a half, so it

865
00:50:29,520 --> 00:50:35,960
Speaker 6: wasn't terrible. But we did that winter, summer, spring, fall, June, September, November.

866
00:50:36,360 --> 00:50:38,919
Speaker 6: We didn't take our bicycles. I cannot figure out why

867
00:50:38,960 --> 00:50:41,680
Speaker 6: I didn't ride my bicycle to school. And it was

868
00:50:41,719 --> 00:50:45,399
Speaker 6: out the door at seven thirty and it was I

869
00:50:45,400 --> 00:50:48,400
Speaker 6: I'm home at three thirty, and there were no cell phones.

870
00:50:48,400 --> 00:50:52,279
Speaker 6: There were no beepers, there were no texting messages. It

871
00:50:52,360 --> 00:50:55,520
Speaker 6: was heading off to school, the school I loved. So

872
00:50:55,600 --> 00:50:58,239
Speaker 6: we carried our lunches. We would eat lunch and then

873
00:50:58,280 --> 00:51:02,080
Speaker 6: head out for an hour of recess, running around at

874
00:51:02,080 --> 00:51:05,480
Speaker 6: the top speed. We could go, raising caine, having fun,

875
00:51:05,760 --> 00:51:08,759
Speaker 6: making gangs. Our gangs are a little bit different than

876
00:51:08,760 --> 00:51:11,640
Speaker 6: what they call gangs nowadays. Our gangs just meant the

877
00:51:11,680 --> 00:51:14,239
Speaker 6: guys we hung around with that recess and played football with.

878
00:51:15,160 --> 00:51:19,440
Speaker 6: So that is a bygone era for sure. My older

879
00:51:19,440 --> 00:51:22,160
Speaker 6: brother started to sell encyclopedias, and the first thing he

880
00:51:22,200 --> 00:51:26,239
Speaker 6: did was sell us a set of encyclopedias, and the

881
00:51:26,280 --> 00:51:28,880
Speaker 6: dictionary that came with that thing was about three feet

882
00:51:28,880 --> 00:51:33,040
Speaker 6: tall and it had screws in the spine. You screwed

883
00:51:33,040 --> 00:51:37,480
Speaker 6: the dictionary together and it was brown. It was like

884
00:51:37,520 --> 00:51:41,480
Speaker 6: a leather cover, very very stiff. That dictionary was to

885
00:51:41,600 --> 00:51:44,359
Speaker 6: stand down at the front window because you could look

886
00:51:44,400 --> 00:51:47,080
Speaker 6: down the lane by the brook and you could see

887
00:51:47,120 --> 00:51:50,319
Speaker 6: cars coming, like from a mile away. And if we

888
00:51:50,320 --> 00:51:53,200
Speaker 6: were home alone, we had well, the lights would bob

889
00:51:53,280 --> 00:51:57,200
Speaker 6: because the road was rocky, wasn't paved, so the bobbing

890
00:51:57,200 --> 00:51:58,920
Speaker 6: would tell you how far out they were, so we

891
00:51:58,960 --> 00:52:01,640
Speaker 6: would know when our folks were coming home that we

892
00:52:01,680 --> 00:52:05,200
Speaker 6: had by the bombing. We'd have like two minutes to clean,

893
00:52:05,960 --> 00:52:09,440
Speaker 6: minute and a half, forty five seconds, thirty seconds, and

894
00:52:09,480 --> 00:52:12,080
Speaker 6: then sometimes we had to lock the back door. We

895
00:52:12,120 --> 00:52:14,720
Speaker 6: never locked it so but if we needed an extra

896
00:52:15,120 --> 00:52:18,040
Speaker 6: forty five seconds or a minute to clean, you know,

897
00:52:18,120 --> 00:52:21,000
Speaker 6: we would be fine. We'd have that extra time. So

898
00:52:21,160 --> 00:52:25,160
Speaker 6: things are different now we have cell phones, tracking devices,

899
00:52:25,280 --> 00:52:29,919
Speaker 6: driveway alarms, things like that. I'm a small child. Let's

900
00:52:29,920 --> 00:52:32,319
Speaker 6: say I'm three. I slept in the same room as

901
00:52:32,320 --> 00:52:35,680
Speaker 6: my grandfather downstairs in the farm off of the kitchen,

902
00:52:36,480 --> 00:52:38,600
Speaker 6: and there were two twin beds. I slept in a

903
00:52:38,680 --> 00:52:42,800
Speaker 6: crib till age three. The crib had a hinge top.

904
00:52:43,239 --> 00:52:46,080
Speaker 6: It was all screen all around the crib, so I

905
00:52:46,080 --> 00:52:50,040
Speaker 6: could not escape ladies and gentlemen somewhere around daybreak whenever

906
00:52:50,080 --> 00:52:52,320
Speaker 6: it was. If it was five in the morning, for thirty,

907
00:52:52,360 --> 00:52:56,640
Speaker 6: I would wake up before anyone in the house. So

908
00:52:56,719 --> 00:52:58,399
Speaker 6: let's say I was three, but I had to wait

909
00:52:58,440 --> 00:53:01,040
Speaker 6: to reach through that screen. There was a hook and

910
00:53:01,160 --> 00:53:03,880
Speaker 6: eye that held me trapped in this crib. So I

911
00:53:03,880 --> 00:53:06,200
Speaker 6: would undo the latch and I would open the top

912
00:53:06,239 --> 00:53:08,040
Speaker 6: of the crib, and then I would hop out of

913
00:53:08,040 --> 00:53:10,680
Speaker 6: the crib. And there was a chair where my grandfather

914
00:53:10,800 --> 00:53:15,200
Speaker 6: set his pants and shirt, and I could reach across

915
00:53:15,400 --> 00:53:17,400
Speaker 6: with my feet and get onto that chair, and then

916
00:53:17,400 --> 00:53:20,160
Speaker 6: i'd let myself down from the crib, and then I

917
00:53:20,200 --> 00:53:23,000
Speaker 6: would head out to the kitchen, and there'd be an

918
00:53:23,120 --> 00:53:27,600
Speaker 6: enamel top kitchen table, and we had those tubular metal

919
00:53:27,680 --> 00:53:31,160
Speaker 6: chairs with the vinyl padded backs for the kitchen table.

920
00:53:31,200 --> 00:53:33,320
Speaker 6: But then I would pull that chair across the kitchen

921
00:53:33,400 --> 00:53:35,799
Speaker 6: to the counter near the refrigerator, so I could hop

922
00:53:35,800 --> 00:53:38,040
Speaker 6: on the chair, hop on the counter, and on top

923
00:53:38,080 --> 00:53:41,440
Speaker 6: of the refrigerator was a key inside a dish that

924
00:53:41,600 --> 00:53:44,600
Speaker 6: opened the cookie cabinet. So i'd opened the padlock on

925
00:53:44,760 --> 00:53:48,480
Speaker 6: the cookie cabinet. I would reach way up there, grab

926
00:53:48,520 --> 00:53:51,320
Speaker 6: a couple of cookies, put everything back, put the cookies

927
00:53:51,360 --> 00:53:54,399
Speaker 6: on the counter, close the cupboard door, put the pad

928
00:53:54,440 --> 00:53:57,120
Speaker 6: lock back on. Lock the padlock, put the key on

929
00:53:57,200 --> 00:53:59,880
Speaker 6: top of the ice box. Crawl down on the chair

930
00:54:00,080 --> 00:54:02,200
Speaker 6: off of the counter. Then I would move the chair

931
00:54:02,280 --> 00:54:04,319
Speaker 6: back to the kitchen table. Then I would go back,

932
00:54:04,360 --> 00:54:06,840
Speaker 6: get my cookies off the counter, go back to the bedroom,

933
00:54:07,080 --> 00:54:10,200
Speaker 6: go over to the chair, pop up onto the side

934
00:54:10,200 --> 00:54:13,600
Speaker 6: and my crib. Climb over the top. Close the top

935
00:54:13,680 --> 00:54:17,359
Speaker 6: of the crib, put the hook and eye back on it,

936
00:54:18,400 --> 00:54:20,759
Speaker 6: and then I'd sit there and eat my cookies. In

937
00:54:20,800 --> 00:54:23,439
Speaker 6: the morning, at nine o'clock, I would get dressed. I'd

938
00:54:23,440 --> 00:54:25,759
Speaker 6: be down in the kitchen and my grandfather would be

939
00:54:25,880 --> 00:54:28,399
Speaker 6: up making me oatmeal. He would have a cup of

940
00:54:28,400 --> 00:54:31,840
Speaker 6: Maxwell House coffee and one teaspoonful of sugar, and he

941
00:54:31,880 --> 00:54:35,680
Speaker 6: would have a piece of toast. After breakfast, he would

942
00:54:35,680 --> 00:54:37,880
Speaker 6: sit me on the table, tie my shoes, put my

943
00:54:38,000 --> 00:54:41,680
Speaker 6: coat upon my shoulders. Maybe if it was winter, I'd

944
00:54:41,680 --> 00:54:44,279
Speaker 6: get my mittens and a hat, and he and I

945
00:54:44,320 --> 00:54:46,080
Speaker 6: would walk out the door and go down and do

946
00:54:46,120 --> 00:54:49,560
Speaker 6: the chickens. Now, he had a wire basket that would

947
00:54:49,600 --> 00:54:53,920
Speaker 6: hold about ten dozen eggs, so he would feed the chickens,

948
00:54:54,360 --> 00:54:56,839
Speaker 6: and then while the chickens were eating, he would take

949
00:54:56,920 --> 00:54:59,279
Speaker 6: the eggs and we'd bring them and store them in

950
00:54:59,320 --> 00:55:02,879
Speaker 6: the cellar until Wednesday night, and we would candle the eggs.

951
00:55:02,920 --> 00:55:03,919
Speaker 5: How do you candle an egg?

952
00:55:04,000 --> 00:55:06,239
Speaker 6: You look at an egg and you make sure there's

953
00:55:06,239 --> 00:55:08,719
Speaker 6: not a baby chicken in there, and if there is,

954
00:55:08,760 --> 00:55:11,120
Speaker 6: you put it aside. If there isn't, you put it

955
00:55:11,160 --> 00:55:14,200
Speaker 6: in the egg carton. Then we would bring the eggs

956
00:55:14,200 --> 00:55:17,000
Speaker 6: down to the County Food Marty it was called, and

957
00:55:17,040 --> 00:55:20,640
Speaker 6: we would turn them into mister Sanchez and he would

958
00:55:20,680 --> 00:55:22,600
Speaker 6: give us some money and we would get a credit

959
00:55:22,640 --> 00:55:25,560
Speaker 6: and we would go shopping. But the first stop was

960
00:55:25,640 --> 00:55:29,680
Speaker 6: Industrial National Bank. My grandfather would make a deposit into

961
00:55:30,000 --> 00:55:32,719
Speaker 6: his bank passpoot, and he would come out of the

962
00:55:32,800 --> 00:55:35,279
Speaker 6: bank and he would hand my mother a sum of

963
00:55:35,360 --> 00:55:38,360
Speaker 6: money and she would take them whatever the egg money

964
00:55:38,440 --> 00:55:41,480
Speaker 6: was that was left over, and in doing that she

965
00:55:42,200 --> 00:55:44,359
Speaker 6: could support the house, so we had food. She had

966
00:55:44,400 --> 00:55:48,000
Speaker 6: extra money. But my life, as far as what I

967
00:55:48,080 --> 00:55:51,920
Speaker 6: can remember as a child, the fields, the sunny days,

968
00:55:52,040 --> 00:55:57,120
Speaker 6: the winter snowdrifts, the play, the family dinners. It's like

969
00:55:57,160 --> 00:56:00,359
Speaker 6: a dream, ladies and gentlemen that I think sometimes I

970
00:56:00,400 --> 00:56:03,399
Speaker 6: never lived that life. I just dreamt it, and now

971
00:56:03,480 --> 00:56:08,319
Speaker 6: I'm facing a reality that is so challenging. Sometimes I

972
00:56:08,400 --> 00:56:10,040
Speaker 6: have to wonder are we.

973
00:56:10,120 --> 00:56:10,520
Speaker 5: Up for this?

974
00:56:11,600 --> 00:56:14,719
Speaker 6: I believe that we are up to it and we

975
00:56:14,800 --> 00:56:15,440
Speaker 6: will prevail.

976
00:56:21,960 --> 00:56:25,640
Speaker 3: We're called Kelly Financial Services. Eight eight eight eight hundred

977
00:56:25,800 --> 00:56:27,040
Speaker 3: eighteen eighty one.

978
00:56:27,280 --> 00:56:29,600
Speaker 4: I'm Kelly Kelly from Kelly Financial.

979
00:56:29,760 --> 00:56:30,600
Speaker 5: Whether you're in.

980
00:56:30,560 --> 00:56:35,080
Speaker 4: Your sixties, seventies, or eighties, financial advice is important when

981
00:56:35,120 --> 00:56:37,799
Speaker 4: it comes to preserving your nest egg. We have a

982
00:56:37,880 --> 00:56:41,680
Speaker 4: free investor guide called designing your Fiscal House to Weather

983
00:56:41,760 --> 00:56:45,160
Speaker 4: the Elements, which highlights the steps needed to build a

984
00:56:45,280 --> 00:56:48,680
Speaker 4: balanced portfolio. For the guide, call eight eight eight eight

985
00:56:48,800 --> 00:56:53,800
Speaker 4: hundred eighteen eighty one or email Kelly at Kellyfinancial dot org.

986
00:56:54,040 --> 00:56:55,360
Speaker 5: We're Kelly Financial.

987
00:56:55,600 --> 00:56:56,760
Speaker 4: Come retire with.

988
00:56:56,719 --> 00:57:01,720
Speaker 3: Us, Save money strategies with William Kelly and Kelly Kelly.

989
00:57:02,080 --> 00:57:04,239
Speaker 3: Go to Kelly Financial dot org.