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Speaker 1: It is coming to us.

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Speaker 2: Ladies and gentlemen, Welcome to Safe Money Strategies on WRKO.

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Speaker 2: I'm William Kelly and it's an honor to carry on

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Speaker 2: a family legacy rooted in real world values and practical advice.

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Speaker 2: Kelly Financial was founded in two thousand and three by

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Speaker 2: my parents, my late father Bill Kelly and my mother

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Speaker 2: Kelly Kelly and Braintree and Burlington, Massachusetts. Just two years later,

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Speaker 2: Dad launched Safe Money Strategies on WRKO as a no

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Speaker 2: nonsense callin radio show focused on common sense planning and

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Speaker 2: protecting wealth.

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Speaker 3: Over the past two decades.

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Speaker 2: Dad became a pillar in New England finance, an engineer,

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Speaker 2: turn entrepreneur, author and philanthropist who believed in giving back

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Speaker 2: and walking the talk. Since z thousand and five, our

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Speaker 2: show has remained a Saturday morning staple, offering insight and empowerment.

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Speaker 2: Here at Kelly Financial, we help steward over seven hundred

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Speaker 2: million dollars across our affiliated business, including more than five

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Speaker 2: hundred million dollars managed by our sec registered investment advisory,

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Speaker 2: where fiduciary care and our family first philosophy guides us

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Speaker 2: on safe money strategies. You'll hear candid conversations with the team,

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Speaker 2: my mother Kelly, myself, advisors Charlie Gable, Mike Ducett, Greg Workman,

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Speaker 2: Greg Murray, my sister Mary Madeline, and Tom Schlager. We

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Speaker 2: live by two rules, never quit and carry on, and

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Speaker 2: we're here to help you do the same when it

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Speaker 2: comes to your money. Stick around, take notes and join

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Speaker 2: the conversation. To learn more or get our free guides

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Speaker 2: or schedule consultation, visit Kelly Financial dot org or call

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Speaker 2: us at eighty eight eight eight hundred one eight eight one.

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Speaker 3: This is Safe Money Strategies.

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Speaker 2: Next up Forever Young with Kelly Kelly and myself William

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Speaker 2: Kelly Junior.

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Speaker 4: Safe Money Strategies with William Kelly and Kelly Kelly eight

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Speaker 4: eight hundred eighteen eighty one.

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Speaker 5: Each week on Safe Money Strategies, we take a moment

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Speaker 5: to step back from the headlines and have a real conversation,

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Speaker 5: the kind you might have around the kitchen table. This

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Speaker 5: is a part of the show we call Forever Young

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Speaker 5: is where I sit down with my son, William Kelly Junior,

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Speaker 5: and we talk about life, what's going on in the world,

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Speaker 5: in our family, and what really matters most when you're

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Speaker 5: planning for the future, sometimes as light, sometimes as thoughtful,

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Speaker 5: but as always real.

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Speaker 6: Good morning, William, How are you?

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Speaker 3: I'm fine, Mom, how are you?

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Speaker 6: I'm doing great?

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Speaker 3: Good.

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Speaker 6: So it's another Saturday upon us.

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Speaker 3: It's crazy to say that.

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Speaker 2: I can't believe that we had Melly over for a

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Speaker 2: whole weekend and this dog.

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Speaker 3: Ladies and gentlemen, I don't.

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Speaker 2: Know if you like cute dogs, but if you're looking

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Speaker 2: to get a cute dog, get a cockapoo, because this

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Speaker 2: dog is like a little heavenly baby angel.

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Speaker 6: She's so cute.

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Speaker 3: I know.

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Speaker 5: It was our first time babysitting her without Mary Madeline.

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Speaker 2: Yes, I honestly, I am having withdrawals right now. I

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Speaker 2: miss that dog so much. The animals miss the dog,

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Speaker 2: believe it or not, Ladies and gentlemen, our cat Marshall,

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Speaker 2: who was exclusive to Georgia only. He only likes Georgia.

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Speaker 2: Other dogs he's very weary of. He was weary of

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Speaker 2: Melly at first, but not intimidated by her. He wouldn't

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Speaker 2: run away, he'd you know, kind of swat her a

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Speaker 2: couple of times. But then all of a sudden, the

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Speaker 2: day before she leaves, Marshall starts playing. They start wrestling

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Speaker 2: because Marshall likes to wrestle with Georgia our kar and

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Speaker 2: terrier dog and they're very physical and Marshall is just

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Speaker 2: you know, he's a good sport and I couldn't believe it.

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Speaker 2: They finally started playing and you know, I think they

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Speaker 2: realized that they're siblings.

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Speaker 3: And I think Marry Madaline has done a fine job.

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Speaker 5: She's on a good schedule, she is and I feel

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Speaker 5: like we stuck with it.

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Speaker 2: Yeah, I think this is proof that maybe Murray Madaline

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Speaker 2: can be responsible. Yeah, maybe she can handle responsibility. So

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Speaker 2: I'm and I think that, you know, being a financial

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Speaker 2: advisor as she is, I think that's very important skills

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Speaker 2: to develop in this field. So I'm very proud of

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Speaker 2: Mary Madaline for taking this accountability.

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Speaker 3: I know, having a puppy is.

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Speaker 2: A big deal and jokes aside, I am very proud

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Speaker 2: of Marray Madeline.

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Speaker 3: She's raised a really fine dog already.

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Speaker 6: She's one of the most responsible people I know.

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Speaker 3: Probably.

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Speaker 2: Yeah, it's a good way. She's a she always is

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Speaker 2: by the book, always by She super detailed. But you know,

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Speaker 2: I mean we all slip up, and I think Mary

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Speaker 2: Madaline just kind of was stumbling along in this dog

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Speaker 2: brought her stability, you know what I mean?

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Speaker 5: Oh William, you are you bust her chops every step

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Speaker 5: of the way.

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Speaker 3: If I did not, I think, Ladies, that would be weird.

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Speaker 6: I think it is your job exactly.

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Speaker 2: It would be strange if I was just like, I

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Speaker 2: love my sister, she's perfect.

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Speaker 3: That's weird. That's weird.

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Speaker 2: Of course, behind her back, I would compliment her, right,

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Speaker 2: but to her face, I could never do that.

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Speaker 3: Are you kidding me?

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Speaker 2: I mean, unless we're having a serious one to one,

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Speaker 2: But I mean, you got to keep her humble. It's

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Speaker 2: my job, you.

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Speaker 6: Know what I mean.

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Speaker 5: Mary Madlin is not with us at this moment, but

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Speaker 5: she will listening.

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Speaker 2: That's true. So this is a sibling battle. Ladies and Joan,

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Speaker 2: just ignore it, don't worry about it. So besides Mellie

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Speaker 2: being the best dog on planet Earth and just really

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Speaker 2: assimilating with the family super well, I got to meet

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Speaker 2: Mary Madaline's boyfriend, Frank.

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Speaker 6: But Frank he is a I don't know if he's

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Speaker 6: a biochemist.

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Speaker 2: Biochemist, very interesting, like extremely cerebral, very interesting job, hard worker.

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Speaker 3: He himself is very cerebral.

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Speaker 2: He doesn't know it all and I hope you'd be

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Speaker 2: in it all because he's getting his PhD. And he

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Speaker 2: just loves science. He knows it so well like the

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Speaker 2: back of his hand. So if you have any kind

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Speaker 2: of chemistry question, he's the guy to ask.

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Speaker 3: So I like this guy already, and you know, I

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Speaker 3: meet him.

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Speaker 2: He comes over to the house a couple of weeks back,

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Speaker 2: brings all of his dogs, and him and my sister

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Speaker 2: go to their high school reunion together.

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Speaker 3: And after that it split up and went.

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Speaker 6: I can't believe they met at the abbey.

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Speaker 3: Right, They knew each other at the abbey.

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Speaker 6: They were kind of years ago, yeah, and.

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Speaker 2: Then all of a sudden, ten years later here there together.

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Speaker 2: Life is a funny, funny how things come around. I

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Speaker 2: never know, you really don't, You really don't. Anyways, I

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Speaker 2: have to drop Melly off, and Frank gives me a text.

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Speaker 2: He sends me a text and he says, William, would

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Speaker 2: you be interested in going to Lifetime Fitness with me?

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Speaker 7: Now?

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Speaker 2: Lifetime Fitness ladies and gentlemen. I don't know if you've been,

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Speaker 2: but it is this luxury fitness place.

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Speaker 3: It is, as he.

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Speaker 2: Described it, the Disney World of gyms. And I'm so excited.

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Speaker 2: And as you know, ladies and gentlemen, I'm a powerlifter.

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Speaker 2: I'm a registered powerlifter, and I still actively train, and

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Speaker 2: so my weekends are very important. Recovery is very important.

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Speaker 2: So I'm thinking, okay, we could play some pickleball. They

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Speaker 2: have a giant pick a ball course. We play pickle ball.

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Speaker 2: They have a hydro massage chair, and I don't know

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Speaker 2: how to explain it, so I'll do the best that

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Speaker 2: I can't.

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Speaker 6: How does it compare to our massage chair.

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Speaker 3: They're both good in their own way.

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Speaker 2: Yeah, but this hydro massage chair is a little different.

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Speaker 3: So it's like you sit on it's kind of like

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Speaker 3: think of.

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Speaker 2: It like a waterbed, right, So you sit on a

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Speaker 2: chair and you feel a jet stream. The jet stream

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Speaker 2: is blocked by the like I would assume there's probably

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Speaker 2: some plastic or fabric, and so it's like you're getting

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Speaker 2: hit with a jet stream all throughout under your body.

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Speaker 2: You're obviously not getting hit with it, like you're not

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Speaker 2: getting wet.

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Speaker 6: Would I like it?

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Speaker 2: You probably would. It feels really good. It's like super

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Speaker 2: warm water. You feel the pressure of the jet stream

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Speaker 2: hitting against the fabric whatever that.

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Speaker 3: That that material is. It's very comfortable.

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Speaker 2: Obviously they layer it with cushion and stuff like that,

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Speaker 2: but it's it's a little hard.

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Speaker 3: To explain, you know, over the air.

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Speaker 2: Be a lot easier if I could kind of reach

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Speaker 2: through the radio and show you guys a photo on Google.

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Speaker 3: But look up a hydro massage chair.

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Speaker 2: Very very interesting because for example, a normal massage chair

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Speaker 2: has a roller.

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Speaker 3: In there and you feel it through the fabric. Yes,

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Speaker 3: same thing, but it sprays water. Okay, does that make sense.

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Speaker 2: Yes, So it's a jet stream and you feel it

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Speaker 2: and it's really warm, comfortable water, and it just you

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Speaker 2: feel so relaxed.

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Speaker 3: It was really awesome.

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Speaker 2: So that long were for nine minutes, and so because

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Speaker 2: you know people are waiting in line because it's so comfortable.

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Speaker 6: Oh they are.

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Speaker 3: And then I did that vibration table. We used to

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Speaker 3: have one in brain treat by the way, ladies and gentlemen.

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Speaker 2: Father bought one and it was it's those things that

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Speaker 2: you stand on and you turn on the motor and

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Speaker 2: you vibrate and I guess it helps your recovery.

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Speaker 3: But that was just out of this world. Out of this.

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Speaker 2: World, man Mary Madaline found a really nice guy. I

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Speaker 2: have to say, and I'm sure you guys are very

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Speaker 2: interested in the in the Kelly family.

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Speaker 3: Gossip, so I'll let you guys in a little bit

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Speaker 3: of the secret here.

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Speaker 6: Coming straight from Williams, this is true.

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Speaker 3: He's pasted the brother test.

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Speaker 6: Wow.

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Speaker 3: I have to.

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Speaker 2: Say, I can't believe this, but I think he has

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Speaker 2: what it takes to annoy Mary Madaline to a degree

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Speaker 2: that I used to do. And that's not something that

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Speaker 2: you can just do, ladies and gentlemen. It takes research,

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Speaker 2: psychological understanding of.

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Speaker 3: Mary Madaline's mind. You have to be thorough.

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Speaker 2: Okay, if you want to annoy my sister, if you

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Speaker 2: want to not just annoy, but prank Marry Madaline, it's

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Speaker 2: just you got to get her. So, Frank, I think

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Speaker 2: he has a sense of humor us and that is

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Speaker 2: such an important credential. And he just gets Murray Madeline

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Speaker 2: and he is so he's just such an enjoyable guy

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Speaker 2: to be around. You know, I'm really proud of both

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Speaker 2: of them. I'm really proud of him and what he's doing.

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Speaker 2: And I'm so happy that he's just treating Murray Madaline

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Speaker 2: so well.

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Speaker 3: And you know, I don't have to annoy her anymore.

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Speaker 2: It's a little sad because you know, Frank is doing

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Speaker 2: all this work for me, and I just you know,

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Speaker 2: I'm gonna miss it when.

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Speaker 6: I have a feeling he does not annoy her that much.

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Speaker 3: All right, Well, someone's got to try.

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Speaker 2: Murray Madeline can't live a life without being a little annoyed,

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Speaker 2: you know. But I'll give you a good example, ladies

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Speaker 2: and gentlemen, and then I'll wrap it up. I said

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Speaker 2: to Mom, Frank does pranks on Murray Madaline. You know,

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Speaker 2: he'll do little things to kind of mess with her,

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Speaker 2: but then he'll do a really good thing to offset it.

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Speaker 2: So Murray Madaline was on a trip and she comes

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Speaker 2: home and before she arrives, Frank opens all the cabinet.

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Speaker 3: Doors in her entire apartment. But he does the dishes.

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Speaker 2: And then when Frank and I were hanging out and

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Speaker 2: we were at Marray Madaline's apartment to return Melly to

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Speaker 2: to Marray Madaline's apartment, we drank all of her SODA's

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Speaker 2: and we're.

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Speaker 3: Eating her food and Mary Madaline's drink soda. Who's day,

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Speaker 3: oh Mary Madaline. Well, it was like a probiotic soda. Okay, sorry,

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Speaker 3: let me it's it's crazy.

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Speaker 2: What what they sell now a probiotic healthy soda And yeah, no,

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Speaker 2: So Frank and I were drinking it harmlessly. We drank one.

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Speaker 2: It was the last one. Mary Madaline wanted it, she

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Speaker 2: was saving it. She was just heartbroken that we did it.

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Speaker 2: So Frank goes to the store buy four more for

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Speaker 2: her same flavor. So Mary Madaline's a trooper. She puts

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Speaker 2: up with it, you know. She uh, but it's if you're.

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Speaker 3: Going to be Mary Madaline. And I mean, I guess.

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Speaker 2: I guess it's my fault because I got born into

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Speaker 2: this world and I just couldn't help but mess with her.

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Speaker 3: I can't help it. It's like William, I think there's

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Speaker 3: a gene in me that causes me to do it.

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Speaker 2: But God answered my prayers and gave her a great

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Speaker 2: guy who will also do that for her, so she'll

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Speaker 2: never escape her for the rest of her life. So God,

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Speaker 2: thank you very much.

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Speaker 5: Well, that was nice of you to drive Melly and

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Speaker 5: then for Frank two to help do all of this

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Speaker 5: book before her flight.

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Speaker 2: It was so Frank, really, he's an upstanding guy. Melly

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Speaker 2: is a great passenger. Yeah, Melle is just great for everything.

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Speaker 2: So yeah, I know We're all going to hang out

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Speaker 2: together pretty soon, so I'm excited for that.

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Speaker 5: So good good do keep us on your dial. We've

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Speaker 5: got a lot of great content coming your way. Mike

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Speaker 5: dust and Greg Workman will break down the federal reserves

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Speaker 5: upcoming October meeting, what RAKE cuts could mean for inflation,

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Speaker 5: the job market, and your portfolio.

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Speaker 6: As we head into.

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Speaker 5: Year end, Mary, Madeline Kelly and Greg Murray, we'll discuss

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Speaker 5: one of the biggest challenges facing today's retirees, how to

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Speaker 5: make your money last a lifetime and strategies to protect

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Speaker 5: against outliving your savings. I'll be back with William and

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Speaker 5: we'll be covering two separate topics, how to get your

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Speaker 5: finances ready for a year end with an October checkup,

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Speaker 5: and how parents and grandparents can start those powerful family

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Speaker 5: conversations about money and values. And of course we'll close

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Speaker 5: the hour with some wit and wisdom from the late

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Speaker 5: Bill Kelly. His words continue to inspire and guide us.

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Speaker 5: That's a wrap for forever, young Thank you for listening,

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Speaker 5: and William, thank you for joining me.

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Speaker 6: We'll be back with more content.

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Speaker 5: I love you, honey, I.

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Speaker 3: Love you, souper.

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Speaker 8: Okay, my friends, let me tell you about Kelly Financial Services.

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Speaker 8: What would you do if your boss called you in

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Speaker 8: tomorrow and said you're done, sayonara, no more paycheck. For

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Speaker 8: many Americans in their fifties and sixties, that's not a hypothetical.

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Speaker 3: Layoffs, buy outs.

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Speaker 8: Early retirements. They're happening every single day, and if you're

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Speaker 8: not prepared, it can be devastating. That's why Kelly Financial

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Speaker 8: created the ten step Layoff Survival Guide. It's simple, clear,

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Speaker 8: and practical. It shows you how to figure out your

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Speaker 8: living expenses, evaluate a severance package, protect healthcare coverage, and

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Speaker 8: make smart choices about social security and retirement accounts. So

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Speaker 8: if you are someone you care about is facing a

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Speaker 8: layoff or even considering early retirement, you don't have to

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Speaker 8: go through it alone. Call Kelly Financial right now eight

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Speaker 8: eight eight eight hundred eighteen eighty one eight eight eight

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Speaker 8: eight hundred eighteen eighty one, get your free copy today

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Speaker 8: or email Kelly at Kellyfinancial dot org Kelly at Kelly

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Speaker 8: Financial dot org.

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Speaker 9: Welcome back to Safe Money Strategies, the show that helps

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Speaker 9: you make informed financial decisions and plan wisely for the future.

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Speaker 9: I'm Mike Ducett, Chief Operating officer at Kelly Financial. Services

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Speaker 9: here with my co host Greg Workman.

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Speaker 10: Hello, I'm Greg Workman, investment advisor at Kelly Financial.

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Speaker 3: We are glad you could join us today, Mike.

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Speaker 10: The big headline this week is the Federal Reserve's upcoming

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Speaker 10: policy meeting on October twenty eighth and twenty ninth. Many

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Speaker 10: people think FED meetings are just for the economists, but

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Speaker 10: their decisions ripple through everyone's finances, from mortgages and credit cards,

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Speaker 10: to business loans and even our retirement accounts.

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Speaker 9: Absolutely, Greg changes to the Federal Funds rate affect borrowing costs.

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Speaker 3: From millions of Americans.

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Speaker 9: When the FED raises rates, loans get more expensive. When

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Speaker 9: they cut rates, borrowing becomes cheaper, encouraging spending and hiring.

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Speaker 9: But the timing and size of the changes make a

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Speaker 9: huge difference, which is why this October meeting is so

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Speaker 9: closely watched.

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Speaker 10: And let's not forget the Fed's dual mandate keep inflation

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Speaker 10: low and employment high.

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Speaker 3: Right now, those two.

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Speaker 10: Goals are intention Inflation remains above the Fed's two percent target,

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Speaker 10: while the labor market is certainly showing some signs of

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Speaker 10: slowing down. That makes the upcoming decisions even more critical.

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Speaker 11: In these rate decisions affect more than just borrowing.

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Speaker 9: They influence savings, investment returns, and business growth. Lower rates

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Speaker 9: can make mortgages more affordable and encourage businesses to invest

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Speaker 9: and hire. At the same time, lower rates can reduce

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Speaker 9: yields on CDs, savings accounts, and other fixed income instruments.

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Speaker 10: Exactly for investors and retirees, understanding the Fed's moves and

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Speaker 10: the reasoning behind them is critical. Over the next segments

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Speaker 10: will break down the fed's recent history, labor market trends, inflation,

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Speaker 10: global considerations, and practical strategies you can use to protect

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Speaker 10: your portfolio and take advantage of opportunities.

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Speaker 3: So stay with us.

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Speaker 11: By the end of this show, you'll have a clear

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Speaker 11: picture of the FED path.

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Speaker 9: What it could mean for your finances, and actionable steps

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Speaker 9: to consider before year end.

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Speaker 3: Greg.

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Speaker 9: Before we dive deeper into the upcoming FED meeting, let's

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Speaker 9: give our listeners some context.

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Speaker 11: The FED has a long history of adjusting.

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Speaker 9: Rates to manage the economy, and understanding that history can

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Speaker 9: help explain why markets react the way they do.

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Speaker 3: Absolutely, Mike.

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Speaker 10: If we go back just a few years, Inflation started

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Speaker 10: spiking in twenty twenty two, reaching over eight percent one

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Speaker 10: of the fastest increases that we've seen in decades. To

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Speaker 10: counteract that, the FED implemented a series of aggressive rate hikes,

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Speaker 10: eleven of them between March twenty twenty two and mid

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Speaker 10: twenty twenty three, raising the Federal funds rate from near

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Speaker 10: zero to above five percent.

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Speaker 9: Those moves helped cool inflation, but they also had a

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Speaker 9: direct impact on everyday Americans. Mortgage rates climbed above seven percent,

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Speaker 9: credit card interest surged in small businesses faced higher borrow costs.

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Speaker 10: Exactly, you can see why the Fed's actions have such

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Speaker 10: a ripple effect. When rates rise too quickly, the cost

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Speaker 10: of debt can become a burden. On the other hand,

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Speaker 10: if rates stay too low for too long, inflation can spiral.

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Speaker 10: The FED is constantly balancing those forces.

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Speaker 9: In twenty twenty four, the FED paused its rate hikes

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Speaker 9: as inflation cooled to roughly three to four percent. That

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Speaker 9: pause gave the economy a chance to stabilize, but by

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Speaker 9: twenty twenty five, inflation pressures returned due to tariffs, energy costs,

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Speaker 9: and supply chain issues, prompting the FED to make its

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Speaker 9: first rate cut since twenty twenty two, a quarter point

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Speaker 9: reduction last month. Lowering rates to a four to four

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Speaker 9: point two five percent range.

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Speaker 10: Markets reacted quickly. Investors immediately began pricing in another potential

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Speaker 10: rate cut in October, with futures indicating a possible three

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Speaker 10: point seventy five to or percent range. But it's important

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Speaker 10: for our listeners to understand that these numbers are not

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Speaker 10: just speculation. They reflect real economic signals, including jobs, wages,

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Speaker 10: consumer spending, and inflation trends exactly.

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Speaker 9: For example, when rates were at their peak in twenty

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Speaker 9: twenty three, a three hundred thousand mortgage could cost a

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Speaker 9: home owner roughly five hundred dollars per month than it

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Speaker 9: would at today's rates. That's money that could otherwise be spent, saved,

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Speaker 9: or invested.

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Speaker 10: And small businesses felt it too. Higher rates meant higher

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Speaker 10: interest on equipment loans or lines of credit, which sometimes

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Speaker 10: forced delays on hiring or expansion. This is why watching

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Speaker 10: FED policy is not just for the economists. It directly

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Speaker 10: affects families and businesses.

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Speaker 9: Looking forward to the October meeting, the fedwial wig whether

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Speaker 9: to continue cutting rates to stimulate the economy or hold

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Speaker 9: steady to ensure inflation doesn't creep back up. It's a

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Speaker 9: delicate balancing act in history shows that even small changes

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Speaker 9: can have significant effects.

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Speaker 3: Greg.

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Speaker 9: One of the biggest influences on the fed's decision making

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Speaker 9: right now is the labor market, and the data is

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Speaker 9: showing some signs of slowing.

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Speaker 3: That's right, Mike.

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Speaker 10: In June twenty twenty five, the US lost jobs for

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Speaker 10: the first time in over four years, and by August

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Speaker 10: only twenty two thousand jobs were added. To put that

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Speaker 10: in perspective, over the past decade, we've typically seen one

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Speaker 10: hundred and fifty thousand to two hundred thousand jobs added monthly.

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Speaker 9: Unemployment has edged up to four point four percent, and

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Speaker 9: wage growth has slowed to three percent year over year,

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Speaker 9: which is below what's needed to keep pace with inflation.

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Speaker 9: That combination slower hiring and moderate wage growth creates a

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Speaker 9: rail drag on consumer spending exactly.

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Speaker 10: Consumer spending drives seventy percent of the US economy, so

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Speaker 10: even small slowdowns can ripple throughout the markets. Certain sectors

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Speaker 10: like retail, manufacturing, and parts of technology have already begun

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Speaker 10: freezing hiring or cutting staff.

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Speaker 11: For the FED, this is a key signal.

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Speaker 9: A slower labor market suggests that the economy may need

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Speaker 9: support through lower interest rates to stimulate hiring and spending.

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Speaker 10: On the other hand, the FED must balance this against inflation.

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Speaker 10: If rates are cut too aggressively, borrowing becomes cheaper, which

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Speaker 10: can reignite price pressures, particularly in housing and consumer goods.

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Speaker 11: Let's give a practical example.

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Speaker 9: A small business planning to expand may hesitate to higher

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Speaker 9: additional staff if they anticipate higher borrowing costs. A rate

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Speaker 9: cut can lower interest on a business line of credit,

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Speaker 9: making the expansion feasible. Conversely, families may refinance a mortgage,

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Speaker 9: freeing up cash to spend in the local economy.

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Speaker 10: It's a delicate balancing act. The FED is trying to

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Speaker 10: keep unemployment low without triggering inflation, while real people and

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Speaker 10: businesses feel the effects every day. That's why the Labor

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Speaker 10: Market Report sports are closely watched by investors, policymakers, and

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Speaker 10: financial advisors alike, and.

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Speaker 9: For our listeners, Understanding these trends can help guide decisions

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Speaker 9: on timely purchases, refinancing loans, or adjusting investment allocations. Greg

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Speaker 9: and I need to take a quick break, but we'll

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Speaker 9: be back soon to continue our conversation.

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Speaker 3: So stay tuned.

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Speaker 4: Kelly Financial Services eight eight eight eight hundred eighteen eighty one.

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Speaker 5: I'm Kelly Kelly from Kelly Financial. Is your financial advisor

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Speaker 5: a fiduciary? In other words, are they legally required to

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00:22:36,720 --> 00:22:41,000
Speaker 5: act in your best interest? My complimentary book, Retire Your Fear,

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00:22:41,080 --> 00:22:44,600
Speaker 5: Plan Your Future, explains what a fiduciary is and will

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00:22:44,600 --> 00:22:48,320
Speaker 5: help you understand if an advisor is really putting you first.

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00:22:48,560 --> 00:22:51,520
Speaker 5: For the book, call eight eight eight eight hundred eighteen

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00:22:51,600 --> 00:22:55,359
Speaker 5: eighty one or email Kelly at Kellyfinancial dot org.

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Speaker 6: We're Kelly Financial. Come retire with us.

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00:22:59,280 --> 00:23:03,879
Speaker 4: The money with Kelly Financial Advisors Greg Murray and Mary

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00:23:03,920 --> 00:23:05,760
Speaker 4: Madeline Kelly.

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Speaker 3: Hello.

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Speaker 1: This is Greg Murray, Senior vice president and Chief Compliance

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Speaker 1: Officer at Kelly Financial Services. Joining me today is Mary

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Speaker 1: Madeline Kelly, one of our wealth advisors. How are you

445
00:23:15,080 --> 00:23:15,560
Speaker 1: doing today?

446
00:23:15,640 --> 00:23:15,720
Speaker 10: Hi?

447
00:23:15,880 --> 00:23:16,200
Speaker 4: Greg?

448
00:23:16,320 --> 00:23:19,320
Speaker 12: I am doing great. A recent girls trip to Florida

449
00:23:19,520 --> 00:23:21,639
Speaker 12: was the pickup I needed as we entered into a

450
00:23:21,680 --> 00:23:22,200
Speaker 12: new season.

451
00:23:22,359 --> 00:23:24,879
Speaker 1: It's always a fun time escaping the cooler weather and

452
00:23:24,960 --> 00:23:27,639
Speaker 1: season change to keep someone going for a little bit longer,

453
00:23:27,800 --> 00:23:29,920
Speaker 1: which is a good segue into our topic for today,

454
00:23:30,040 --> 00:23:31,000
Speaker 1: Outliving your Money.

455
00:23:31,080 --> 00:23:33,840
Speaker 12: I'm glad we're talking about this topic because it's something

456
00:23:33,920 --> 00:23:37,680
Speaker 12: a lot of retirees don't think about enough longevity risk,

457
00:23:37,920 --> 00:23:40,479
Speaker 12: in other words, the risk of outliving your money if

458
00:23:40,520 --> 00:23:42,719
Speaker 12: you live to age ninety five or even longer.

459
00:23:42,800 --> 00:23:43,200
Speaker 3: That's right.

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00:23:43,280 --> 00:23:45,840
Speaker 1: When people picture retirement, they might be thinking about a

461
00:23:45,920 --> 00:23:49,280
Speaker 1: ten or fifteen year stretch. But with advances in medicine

462
00:23:49,280 --> 00:23:52,199
Speaker 1: and healthier lifestyles, many people are living twenty five or

463
00:23:52,240 --> 00:23:55,119
Speaker 1: even thirty years after they stop working. That's wonderful news,

464
00:23:55,240 --> 00:23:58,160
Speaker 1: but it also increases financial challenges exactly.

465
00:23:58,320 --> 00:24:00,240
Speaker 12: Here's the way I like to put it. You can't

466
00:24:00,280 --> 00:24:03,159
Speaker 12: plan for retirement as if it's a long vacation. You

467
00:24:03,240 --> 00:24:06,119
Speaker 12: have to plan as if it's another third of your life,

468
00:24:06,200 --> 00:24:08,200
Speaker 12: and that means making sure your money stretches.

469
00:24:08,480 --> 00:24:11,280
Speaker 1: So let's break down why longevity risk matters. If you

470
00:24:11,359 --> 00:24:14,120
Speaker 1: retire at sixty five and live until ninety five, that's

471
00:24:14,160 --> 00:24:17,359
Speaker 1: thirty years of expenses. Think about what changes in thirty years.

472
00:24:17,400 --> 00:24:21,400
Speaker 1: Prices go up, healthcare needs increase, and unexpected cost pop pop.

473
00:24:21,520 --> 00:24:24,480
Speaker 1: Without planning, even a healthy retirement nest, THAG can start

474
00:24:24,480 --> 00:24:25,520
Speaker 1: to look smaller than you'd like.

475
00:24:25,640 --> 00:24:27,600
Speaker 12: And it's not just about the money you spend on

476
00:24:27,720 --> 00:24:31,199
Speaker 12: fun things like travel. The biggest wildcard is healthcare. There

477
00:24:31,240 --> 00:24:33,840
Speaker 12: are estimates that a sixty five year old couple retiring

478
00:24:33,880 --> 00:24:37,800
Speaker 12: today may need close to three hundred thousand dollars just

479
00:24:37,840 --> 00:24:41,000
Speaker 12: for medical expenses in retirement, and that doesn't even include

480
00:24:41,040 --> 00:24:41,840
Speaker 12: long term care.

481
00:24:41,960 --> 00:24:44,199
Speaker 1: That's a huge number. So how do we plan for

482
00:24:44,240 --> 00:24:47,680
Speaker 1: longevity risk? The first step is identifying what income sources

483
00:24:47,720 --> 00:24:51,120
Speaker 1: you know you'll have, things like Social Security, pensions, or

484
00:24:51,240 --> 00:24:54,520
Speaker 1: rental income. Then compare that to your actual expenses. If

485
00:24:54,560 --> 00:24:56,800
Speaker 1: there's a gap, that's where we need to strategize.

486
00:24:56,840 --> 00:25:00,280
Speaker 12: One approach is to create guaranteed income streams. That might

487
00:25:00,320 --> 00:25:03,960
Speaker 12: mean annuities that provide lifetime payments or other tools that

488
00:25:04,040 --> 00:25:06,800
Speaker 12: make sure you have a retirement paycheck coming in no

489
00:25:06,880 --> 00:25:09,520
Speaker 12: matter how long you live. That way, you're not relying

490
00:25:09,640 --> 00:25:10,920
Speaker 12: only on market performance.

491
00:25:11,080 --> 00:25:14,000
Speaker 1: And another strategy is being thoughtful about when to take

492
00:25:14,000 --> 00:25:16,919
Speaker 1: Social Security. If you wait until age seventy, your monthly

493
00:25:17,000 --> 00:25:19,199
Speaker 1: benefit could be thirty percent higher than if you take

494
00:25:19,240 --> 00:25:21,480
Speaker 1: it at sixty two. That bigger check can make a

495
00:25:21,560 --> 00:25:23,400
Speaker 1: huge difference if you live into your nineties.

496
00:25:23,480 --> 00:25:25,880
Speaker 12: That's a great point. Another part of planning is how

497
00:25:25,960 --> 00:25:29,400
Speaker 12: you withdraw from your savings. Without a plan, people sometimes

498
00:25:29,440 --> 00:25:32,520
Speaker 12: take too much too early and then struggle later. Setting

499
00:25:32,520 --> 00:25:36,320
Speaker 12: a withdrawal strategy, whether that's the four percent guideline or

500
00:25:36,359 --> 00:25:39,719
Speaker 12: a more personalized plan, can help keep your money working

501
00:25:39,800 --> 00:25:40,159
Speaker 12: for you.

502
00:25:40,480 --> 00:25:41,920
Speaker 3: And don't forget about inflation.

503
00:25:42,280 --> 00:25:44,960
Speaker 1: Over thirty years, the cost of everyday items doubles or

504
00:25:44,960 --> 00:25:47,439
Speaker 1: even triples. A gallon of milk, a tank of gas,

505
00:25:47,480 --> 00:25:50,119
Speaker 1: your utility bill, those things will not stay the same.

506
00:25:50,240 --> 00:25:52,840
Speaker 1: That's why even in retirement, you still need some growth

507
00:25:52,840 --> 00:25:54,920
Speaker 1: investment to keep pace with rising prices.

508
00:25:55,080 --> 00:25:58,200
Speaker 12: A balanced portfolio is key. It's not about going all

509
00:25:58,240 --> 00:26:01,320
Speaker 12: in on stocks or sitting in time in cash. It's

510
00:26:01,320 --> 00:26:04,640
Speaker 12: about finding that mix of growth, income, and safety that

511
00:26:04,680 --> 00:26:06,760
Speaker 12: matches your lifestyle and risk tolerance.

512
00:26:06,840 --> 00:26:09,000
Speaker 1: And I think mindset plays a role too. We often

513
00:26:09,040 --> 00:26:12,200
Speaker 1: tell clients don't plan to just get to retirement, plan

514
00:26:12,280 --> 00:26:14,800
Speaker 1: to thrive through retirement. If you plan as if you'll

515
00:26:14,800 --> 00:26:17,720
Speaker 1: live to ninety five or beyond, you're covering all your bases.

516
00:26:17,920 --> 00:26:19,920
Speaker 1: Even if you don't make it that far, you're still

517
00:26:19,920 --> 00:26:21,520
Speaker 1: financially secure exactly.

518
00:26:21,640 --> 00:26:23,879
Speaker 12: And let's be honest, running out of money is one

519
00:26:23,920 --> 00:26:26,600
Speaker 12: of the biggest fears people have, But with the right plan,

520
00:26:26,840 --> 00:26:29,000
Speaker 12: you can reduce that fear. You can know that no

521
00:26:29,080 --> 00:26:31,280
Speaker 12: matter how long you live you'll be okay.

522
00:26:31,400 --> 00:26:34,080
Speaker 1: So here's the takeaway for our listeners today. Longevity is

523
00:26:34,080 --> 00:26:36,959
Speaker 1: a blessing, but it requires preparation. Build a plan that

524
00:26:36,960 --> 00:26:40,720
Speaker 1: includes guaranteed income, thought full draw strategies and investments that

525
00:26:40,760 --> 00:26:42,000
Speaker 1: grow with inflation.

526
00:26:41,720 --> 00:26:44,360
Speaker 12: And don't wait until you're already retired to figure it out.

527
00:26:44,400 --> 00:26:47,080
Speaker 12: The earlier you start planning, the more options you have

528
00:26:47,440 --> 00:26:48,440
Speaker 12: to make your money last.

529
00:26:48,600 --> 00:26:49,119
Speaker 11: Well said.

530
00:26:49,240 --> 00:26:51,320
Speaker 1: So, if you're wondering whether you're a retirement plan could

531
00:26:51,359 --> 00:26:53,920
Speaker 1: last age ninety five or beyond, that's a great reason

532
00:26:53,920 --> 00:26:56,159
Speaker 1: to come sit down with us. We'll look at your income,

533
00:26:56,200 --> 00:26:58,280
Speaker 1: your savings, and your goals and help you build a

534
00:26:58,280 --> 00:27:00,960
Speaker 1: strategy to give you confidence in your future, because.

535
00:27:00,760 --> 00:27:03,280
Speaker 12: At the end of the day, retirement isn't just about

536
00:27:03,320 --> 00:27:06,679
Speaker 12: stopping work. It's about living well for however long you're.

537
00:27:06,560 --> 00:27:09,560
Speaker 1: Blessed with Precisely okay, Mary Madeline, it was a pleasure

538
00:27:09,600 --> 00:27:11,520
Speaker 1: and I look forward to chatting with you next week.

539
00:27:11,600 --> 00:27:13,440
Speaker 12: Thanks Greg, I have a great rec of your weekend.

540
00:27:13,720 --> 00:27:16,600
Speaker 4: To get in touch with Greg Murray or Mary Madeline

541
00:27:16,640 --> 00:27:20,320
Speaker 4: Kelly or any member of the Kelly Financial team called

542
00:27:20,400 --> 00:27:27,840
Speaker 4: eight at eight eight hundred eighteen eighty one. Safe Money

543
00:27:27,880 --> 00:27:32,240
Speaker 4: Strategies with William Kelly and Kelly Kelly call the team

544
00:27:32,320 --> 00:27:36,840
Speaker 4: on eight eight eight hundred, eighteen eighty one, Take.

545
00:27:36,960 --> 00:27:45,919
Speaker 5: Care, Welcome back to save money Strategies. I'm Kelly Kelly

546
00:27:46,040 --> 00:27:50,520
Speaker 5: here with my son William Kelly, foll us here, pumpkins

547
00:27:50,640 --> 00:27:55,960
Speaker 5: on porches, football in full swing, the leaves beginning to change, and.

548
00:27:55,880 --> 00:27:56,680
Speaker 6: You know, William.

549
00:27:57,080 --> 00:28:00,280
Speaker 5: October is one of those months where life seems to

550
00:28:00,320 --> 00:28:04,119
Speaker 5: shift gears. The summer pace is gone, the holiday rush

551
00:28:04,240 --> 00:28:07,399
Speaker 5: has not hit yet and is the perfect time to

552
00:28:07,480 --> 00:28:11,160
Speaker 5: stop and ask am I on track before the year ends?

553
00:28:11,720 --> 00:28:15,320
Speaker 2: That's exactly right, mom. October is really like a recent month.

554
00:28:15,600 --> 00:28:17,360
Speaker 2: It's the start of the last quarter of the year

555
00:28:17,400 --> 00:28:19,359
Speaker 2: and it gives people the breathing room to check in

556
00:28:19,400 --> 00:28:22,440
Speaker 2: without the distraction of the holidays. By the time November

557
00:28:22,520 --> 00:28:26,040
Speaker 2: rolls around, life gets busy with Thanksgiving and family gatherings.

558
00:28:26,080 --> 00:28:30,160
Speaker 2: December it's holiday parties and year end everything. So October

559
00:28:30,359 --> 00:28:32,520
Speaker 2: is really the time to take a clear look and

560
00:28:32,560 --> 00:28:34,879
Speaker 2: ask am I where I want to be financially?

561
00:28:35,119 --> 00:28:38,840
Speaker 5: And that's so important At Kelley Financial, our team helps

562
00:28:38,920 --> 00:28:40,120
Speaker 5: clients with these.

563
00:28:40,040 --> 00:28:41,720
Speaker 6: Checkups every single year.

564
00:28:42,320 --> 00:28:45,360
Speaker 5: It's a chance to see what's been accomplished and what

565
00:28:45,600 --> 00:28:49,120
Speaker 5: still needs to be done before the calendar flips. And

566
00:28:49,240 --> 00:28:52,600
Speaker 5: what people always tell us is how much peace of

567
00:28:52,640 --> 00:28:55,920
Speaker 5: mind they feel after going through this kind of review.

568
00:28:56,080 --> 00:28:58,800
Speaker 2: Right, because it's not just about numbers on a page.

569
00:28:58,880 --> 00:29:01,800
Speaker 2: It's knowing that you're not head into the holidays with uncertainty.

570
00:29:02,200 --> 00:29:04,400
Speaker 2: I think people want to enjoy time with their families,

571
00:29:04,560 --> 00:29:06,840
Speaker 2: not sit at the dinner table worrying if they forgot

572
00:29:06,880 --> 00:29:10,920
Speaker 2: something critical about the retirement accounts or taxes exactly.

573
00:29:11,520 --> 00:29:14,520
Speaker 5: And let's talk about some of the practical things that

574
00:29:14,640 --> 00:29:20,320
Speaker 5: make this season important. First, contributions. Many people start the

575
00:29:20,400 --> 00:29:24,160
Speaker 5: year with a goal for their retirement accounts, maybe it

576
00:29:24,400 --> 00:29:27,040
Speaker 5: was maxing out a four oh one K or making

577
00:29:27,120 --> 00:29:31,400
Speaker 5: steady contributions to an IRA. October is a great time

578
00:29:31,480 --> 00:29:35,280
Speaker 5: to check in and ask am I own pace or

579
00:29:35,400 --> 00:29:39,640
Speaker 5: do I need to make some adjustments before December thirty First.

580
00:29:39,600 --> 00:29:44,680
Speaker 2: And for retirees, the focus shifts require minimum distributions are

581
00:29:44,680 --> 00:29:47,800
Speaker 2: one of those things you can't ignore. Advisors help clients

582
00:29:47,840 --> 00:29:50,520
Speaker 2: pace those throughout the year, But for anyone who hasn't

583
00:29:50,560 --> 00:29:53,360
Speaker 2: checked at October is a reminder you don't want to

584
00:29:53,400 --> 00:29:55,000
Speaker 2: be dealing with that right in the middle of the

585
00:29:55,040 --> 00:29:56,440
Speaker 2: holiday season, and.

586
00:29:56,320 --> 00:29:57,640
Speaker 6: Then there's tax planning.

587
00:29:57,880 --> 00:30:01,240
Speaker 5: October gives you enough runway to think about whether there

588
00:30:01,320 --> 00:30:04,760
Speaker 5: are charitable gifts you'd like to make this year, or

589
00:30:04,840 --> 00:30:08,760
Speaker 5: whether there are other opportunities to manage taxes in a

590
00:30:08,800 --> 00:30:13,320
Speaker 5: thoughtful way. It's not about rushing, It's about having space

591
00:30:13,480 --> 00:30:15,000
Speaker 5: to make good decisions.

592
00:30:15,560 --> 00:30:19,560
Speaker 2: Another big October item is healthcare. Medicare open enrollment begins

593
00:30:19,560 --> 00:30:22,000
Speaker 2: this month, and that's one of those things where options

594
00:30:22,120 --> 00:30:24,560
Speaker 2: change a year to year. The plan that fits your

595
00:30:24,600 --> 00:30:26,880
Speaker 2: needs last year might not look like the best one

596
00:30:26,920 --> 00:30:28,719
Speaker 2: this year. It's a good time to look at those

597
00:30:28,800 --> 00:30:30,680
Speaker 2: choices before the deadline sneaks.

598
00:30:30,360 --> 00:30:33,560
Speaker 5: Up, and William, you touched on something earlier that I

599
00:30:33,640 --> 00:30:39,160
Speaker 5: think is worth emphasizing. Peace of mind this season is

600
00:30:39,240 --> 00:30:42,920
Speaker 5: about more than checklist. It's about knowing that when the

601
00:30:42,960 --> 00:30:45,960
Speaker 5: holidays come, you can actually enjoy them.

602
00:30:46,440 --> 00:30:47,680
Speaker 6: You can sit with your.

603
00:30:47,640 --> 00:30:52,680
Speaker 5: Family at Thanksgiving dinner, watch a holiday movie, or celebrate

604
00:30:52,720 --> 00:30:56,920
Speaker 5: with friends without that nagging feeling that something important was

605
00:30:57,040 --> 00:30:58,040
Speaker 5: left undone.

606
00:30:58,200 --> 00:31:00,800
Speaker 2: And I think that's what people really want, Mom. They

607
00:31:00,800 --> 00:31:02,920
Speaker 2: don't want to be up at night in December worrying

608
00:31:02,960 --> 00:31:05,760
Speaker 2: if they're ready. They want to feel organized, and October

609
00:31:05,800 --> 00:31:06,880
Speaker 2: is when that's possible.

610
00:31:07,160 --> 00:31:12,440
Speaker 5: Yes, October really is that golden window after the busyness

611
00:31:12,480 --> 00:31:16,320
Speaker 5: of summer, but before the rush of the holidays. It's

612
00:31:16,360 --> 00:31:19,160
Speaker 5: a chance to pause, to look at where you are

613
00:31:19,360 --> 00:31:22,680
Speaker 5: and to make sure your financial life is aligned with

614
00:31:22,760 --> 00:31:23,400
Speaker 5: your goals.

615
00:31:23,720 --> 00:31:26,120
Speaker 2: And for our listeners, if you're sitting there thinking, I

616
00:31:26,120 --> 00:31:28,240
Speaker 2: don't know if I've done my checkup this year, let

617
00:31:28,240 --> 00:31:31,440
Speaker 2: this be your son. Ask yourself. Have I contributed what

618
00:31:31,480 --> 00:31:34,520
Speaker 2: I planned? Have I thought about withdrawals or taxes? Have

619
00:31:34,600 --> 00:31:37,520
Speaker 2: I looked at my healthcare options? Even just asking those

620
00:31:37,600 --> 00:31:40,000
Speaker 2: questions now, can you give you a clear sense of direction?

621
00:31:40,480 --> 00:31:43,600
Speaker 5: And if you don't have all the answers, that's okay.

622
00:31:44,160 --> 00:31:47,880
Speaker 5: That's what our advisors are here for. They love sitting

623
00:31:47,920 --> 00:31:50,760
Speaker 5: down with clients this time of year because it's about

624
00:31:50,840 --> 00:31:54,840
Speaker 5: clarity and confidence, and we'd love to help you too.

625
00:31:55,400 --> 00:31:58,280
Speaker 2: If you'd like to sit down for a complimentary October checkup,

626
00:31:58,400 --> 00:32:00,120
Speaker 2: we'd be happy to schedule that for you.

627
00:32:00,680 --> 00:32:02,440
Speaker 3: Just give us a call at eighty eight eight.

628
00:32:02,360 --> 00:32:04,640
Speaker 2: Hundred and one eight eight one or email us at

629
00:32:04,680 --> 00:32:07,040
Speaker 2: Kelly at Kelly Financial dot org and our team will

630
00:32:07,040 --> 00:32:07,840
Speaker 2: help you set it up.

631
00:32:08,080 --> 00:32:12,200
Speaker 5: October is the month to take action. Don't wait until

632
00:32:12,320 --> 00:32:16,320
Speaker 5: year end, give yourself the gift of peace of mind,

633
00:32:16,800 --> 00:32:19,960
Speaker 5: so when the holidays arrive, you can truly be present

634
00:32:20,200 --> 00:32:23,800
Speaker 5: with your family, with your friends, and with yourself.

635
00:32:24,160 --> 00:32:26,320
Speaker 2: And coming up after the break, we're going to switch

636
00:32:26,360 --> 00:32:29,120
Speaker 2: gears and talk about another topic that's close to our hearts.

637
00:32:29,280 --> 00:32:33,040
Speaker 2: How parents and grandparents can start financial conversations with their

638
00:32:33,120 --> 00:32:34,320
Speaker 2: kids and grandkids.

639
00:32:34,680 --> 00:32:38,960
Speaker 6: Yes, that's one of my favorites. Stay with us, we'll

640
00:32:39,000 --> 00:32:39,920
Speaker 6: be right back.

641
00:32:43,240 --> 00:32:47,320
Speaker 4: Save Money Strategies brought to you by Kelly Financial Services.

642
00:32:47,520 --> 00:32:51,280
Speaker 4: Call eight eight eight eight hundred eighteen eighty one or

643
00:32:51,400 --> 00:32:53,320
Speaker 4: visit Kellyfinancial dot org.

644
00:32:53,880 --> 00:32:57,840
Speaker 13: Ready to enjoy your golden years without worry. At Kelly Financial,

645
00:32:57,960 --> 00:33:01,320
Speaker 13: we know retirement planning can be overwhelming. With more than

646
00:33:01,360 --> 00:33:05,040
Speaker 13: twenty two years of experience, our friendly team of advisors

647
00:33:05,120 --> 00:33:08,280
Speaker 13: makes it easy and stress free. Trust us to help

648
00:33:08,320 --> 00:33:11,840
Speaker 13: you create a secure and enjoyable future. For a free

649
00:33:11,840 --> 00:33:16,120
Speaker 13: initial retirement consultation, called eight eight eight eight hundred eighteen

650
00:33:16,200 --> 00:33:20,400
Speaker 13: eighty one or email Kelly at Kellyfinancial dot org. We're

651
00:33:20,480 --> 00:33:22,520
Speaker 13: Kelly Financial. Come retire with.

652
00:33:22,520 --> 00:33:27,400
Speaker 4: Us Safe money strategies with William Kelly and Kelly Kelly.

653
00:33:27,600 --> 00:33:31,760
Speaker 4: Call the team on eight eight eight hundred eighteen eighty one.

654
00:33:32,440 --> 00:33:38,760
Speaker 5: Kay Care, welcome back to Save Money Strategies.

655
00:33:38,960 --> 00:33:41,760
Speaker 6: I'm Kelly Kelly here with my son William.

656
00:33:42,360 --> 00:33:46,200
Speaker 5: You know, William, one of the most rewarding things about

657
00:33:46,200 --> 00:33:50,920
Speaker 5: our work is when families come in together, parents, children,

658
00:33:51,280 --> 00:33:56,000
Speaker 5: sometimes even grandchildren, all sitting around the same table. That's

659
00:33:56,200 --> 00:33:58,720
Speaker 5: when the planning really comes to life.

660
00:33:59,160 --> 00:34:01,080
Speaker 2: It is mom Honestly, I think that's one of the

661
00:34:01,080 --> 00:34:04,000
Speaker 2: most overlooked parts of financial planning. You can have the

662
00:34:04,000 --> 00:34:06,560
Speaker 2: accounts in the paperwork, but if the family doesn't understand

663
00:34:06,560 --> 00:34:08,920
Speaker 2: the why, then a big piece is missing.

664
00:34:09,680 --> 00:34:10,279
Speaker 6: Exactly.

665
00:34:10,440 --> 00:34:14,480
Speaker 5: It's not just about leaving money, it's about leaving wisdom,

666
00:34:14,920 --> 00:34:21,560
Speaker 5: passing down values, lessons and stories. If those conversations aren't happening,

667
00:34:21,719 --> 00:34:24,320
Speaker 5: we leave the next generation guessing.

668
00:34:24,920 --> 00:34:26,960
Speaker 3: Here's the thing. I see this all the time with

669
00:34:27,000 --> 00:34:27,720
Speaker 3: my own generation.

670
00:34:28,160 --> 00:34:30,120
Speaker 2: A lot of my friends are curious about money, but

671
00:34:30,160 --> 00:34:32,080
Speaker 2: they don't always know where to start. They might be

672
00:34:32,080 --> 00:34:34,239
Speaker 2: afraid to ask their parents or feel like finances are

673
00:34:34,280 --> 00:34:38,399
Speaker 2: too complicated. But when families open the door, those conversations

674
00:34:38,400 --> 00:34:39,600
Speaker 2: make a huge difference.

675
00:34:40,400 --> 00:34:41,680
Speaker 6: That's such a good point.

676
00:34:42,000 --> 00:34:45,600
Speaker 5: And William, you've already written a book for Generation Z

677
00:34:46,239 --> 00:34:49,160
Speaker 5: and I love that you put down the lessons you

678
00:34:49,320 --> 00:34:51,360
Speaker 5: wish every young person could know.

679
00:34:51,960 --> 00:34:53,240
Speaker 3: Yes, and they're simple lessons.

680
00:34:53,640 --> 00:34:56,040
Speaker 2: How to make a budget, how to avoid credit card debt,

681
00:34:56,080 --> 00:34:57,080
Speaker 2: why starting early with.

682
00:34:57,080 --> 00:34:58,480
Speaker 3: Investing matters so much.

683
00:34:58,880 --> 00:35:02,000
Speaker 2: These aren't complicated topics, but if no one ever explains them,

684
00:35:02,040 --> 00:35:05,160
Speaker 2: young people can feel lost. That's why I think families

685
00:35:05,200 --> 00:35:07,799
Speaker 2: play such an important role. It doesn't have to be

686
00:35:07,800 --> 00:35:10,359
Speaker 2: a classroom lecture. It can be a parent sharing how

687
00:35:10,360 --> 00:35:12,920
Speaker 2: they save, or a grandparent talking about a financial lesson

688
00:35:12,920 --> 00:35:13,839
Speaker 2: they learn the hard way.

689
00:35:14,200 --> 00:35:18,200
Speaker 5: And from the retirement side is also about beneficiaries.

690
00:35:18,520 --> 00:35:20,800
Speaker 6: We've seen some families who did all.

691
00:35:20,680 --> 00:35:25,680
Speaker 5: The paperwork perfectly but never explained anything to their children,

692
00:35:26,320 --> 00:35:29,560
Speaker 5: and then when the time came, there was confusion and

693
00:35:29,680 --> 00:35:30,839
Speaker 5: sometimes conflict.

694
00:35:31,200 --> 00:35:34,680
Speaker 6: That's why communication is so essential.

695
00:35:34,440 --> 00:35:37,000
Speaker 2: Right and a simple family talk can prevent so much

696
00:35:37,040 --> 00:35:39,600
Speaker 2: of that. Even just saying here's what we put in place,

697
00:35:39,719 --> 00:35:41,960
Speaker 2: here's why we made these decisions, and here's who you

698
00:35:41,960 --> 00:35:45,520
Speaker 2: can call if something happens. It clears away the mystery

699
00:35:46,160 --> 00:35:48,440
Speaker 2: and it helps kids and grandkids feel like they're part

700
00:35:48,480 --> 00:35:50,440
Speaker 2: of the plan, not just left in the dark.

701
00:35:50,840 --> 00:35:54,200
Speaker 5: It doesn't have to be formal, it doesn't have to

702
00:35:54,239 --> 00:35:58,960
Speaker 5: be intimidating. It could be over Sunday dinner or on

703
00:35:59,000 --> 00:36:04,040
Speaker 5: a holiday wall what matters is just starting, and honestly,

704
00:36:04,160 --> 00:36:08,080
Speaker 5: holidays can be some of the best times when families

705
00:36:08,120 --> 00:36:13,239
Speaker 5: are already together sharing stories. That's when these conversations can

706
00:36:13,280 --> 00:36:18,040
Speaker 5: flow naturally. A Thanksgiving dinner or a Christmas gathering may

707
00:36:18,080 --> 00:36:22,320
Speaker 5: not seem like the place for financial talks, but sometimes

708
00:36:22,400 --> 00:36:28,120
Speaker 5: a simple comment like here's what we've learned or here's

709
00:36:28,160 --> 00:36:32,440
Speaker 5: what matters to us can spark a meaningful discussion.

710
00:36:32,880 --> 00:36:36,719
Speaker 2: I like that because with my generation, conversations often happen casually.

711
00:36:36,920 --> 00:36:39,120
Speaker 2: We'll talk about student loans or saving for our first

712
00:36:39,120 --> 00:36:41,600
Speaker 2: home while hanging out with friends. It doesn't feel formal,

713
00:36:41,719 --> 00:36:43,759
Speaker 2: and it makes it easier. The same to be true

714
00:36:43,760 --> 00:36:46,320
Speaker 2: for families bringing up money in a way that feels natural,

715
00:36:46,640 --> 00:36:47,280
Speaker 2: not forced.

716
00:36:47,719 --> 00:36:51,680
Speaker 5: For me, one of the earliest financial lessons came when

717
00:36:51,840 --> 00:36:55,239
Speaker 5: Dad took you to open your first savings account. You

718
00:36:55,280 --> 00:36:58,080
Speaker 5: were seven years old, and it wasn't.

719
00:36:57,840 --> 00:37:00,440
Speaker 6: About the amount. It was about vixbyperience.

720
00:37:01,000 --> 00:37:04,840
Speaker 5: Watching the numbers grow, even just a little, gave you

721
00:37:04,960 --> 00:37:07,240
Speaker 5: a sense of empowerment.

722
00:37:07,000 --> 00:37:09,520
Speaker 2: Exactly, and that memory stuck with me. It made me

723
00:37:09,560 --> 00:37:12,520
Speaker 2: feel like this is something I can manage. That's the

724
00:37:12,560 --> 00:37:15,040
Speaker 2: power of a simple lesson. It doesn't fade.

725
00:37:15,160 --> 00:37:19,000
Speaker 5: And that's why your dad, Bill Kelly believes so strongly

726
00:37:19,120 --> 00:37:22,560
Speaker 5: in teaching financial discipline. Early he used to say that

727
00:37:22,760 --> 00:37:25,359
Speaker 5: money is a tool, and like any tool, you have

728
00:37:25,480 --> 00:37:28,760
Speaker 5: to learn how to handle it. He believed in responsibility,

729
00:37:28,920 --> 00:37:34,000
Speaker 5: but he also believed in generosity, using money wisely but

730
00:37:34,120 --> 00:37:37,840
Speaker 5: also for the good. Those lessons are a part of

731
00:37:37,880 --> 00:37:42,520
Speaker 5: the legacy he left and their lessons worth passing down.

732
00:37:42,680 --> 00:37:45,360
Speaker 2: And that's really the heart of it. These conversations aren't

733
00:37:45,360 --> 00:37:48,680
Speaker 2: just about dollars and cents. They're about values. When kids

734
00:37:48,680 --> 00:37:51,680
Speaker 2: and grandkids hear stories, whether it's about saving, giving, or

735
00:37:51,719 --> 00:37:54,120
Speaker 2: even mistakes that were made, it shapes how they see

736
00:37:54,160 --> 00:37:55,480
Speaker 2: money for the rest of their lives.

737
00:37:55,600 --> 00:37:58,680
Speaker 5: And for our dear listeners, I want to say this,

738
00:37:59,280 --> 00:38:02,719
Speaker 5: you don't have to have every answer. You don't have

739
00:38:02,800 --> 00:38:05,800
Speaker 5: to be the expert in every financial detail.

740
00:38:06,360 --> 00:38:08,239
Speaker 6: That's what advisors are here for.

741
00:38:08,800 --> 00:38:12,919
Speaker 5: But you can start the conversation and starting is the

742
00:38:12,960 --> 00:38:14,480
Speaker 5: most important step.

743
00:38:14,680 --> 00:38:16,719
Speaker 2: And if you'd like to support, we'd love to help.

744
00:38:16,800 --> 00:38:19,640
Speaker 2: At Kelly Financial. Our fiduciary advisors are here as a

745
00:38:19,680 --> 00:38:23,200
Speaker 2: resource for you and your family. Whether it's questions about retirement,

746
00:38:23,440 --> 00:38:26,279
Speaker 2: planning for the future, or just beginning that dialogue with

747
00:38:26,320 --> 00:38:26,920
Speaker 2: your children.

748
00:38:27,239 --> 00:38:28,080
Speaker 3: We can guide you.

749
00:38:28,360 --> 00:38:31,759
Speaker 5: And if you've been thinking I really should talk to

750
00:38:31,800 --> 00:38:35,239
Speaker 5: my children about this, let this be your nudge.

751
00:38:35,480 --> 00:38:37,640
Speaker 6: Don't wait, start now.

752
00:38:37,680 --> 00:38:38,680
Speaker 3: Schedule conversation.

753
00:38:39,120 --> 00:38:40,560
Speaker 2: Just give us a call at eighty to eight eight

754
00:38:40,680 --> 00:38:43,279
Speaker 2: hundred and eighty one or email us at Kelly at

755
00:38:43,320 --> 00:38:44,640
Speaker 2: Kelly Financial dot org.

756
00:38:44,880 --> 00:38:46,760
Speaker 3: We'd be happy to help you take the first step.

757
00:38:47,200 --> 00:38:48,120
Speaker 6: Stay with us.

758
00:38:48,239 --> 00:38:52,360
Speaker 5: We've got more financial content coming your way on safe

759
00:38:52,360 --> 00:38:56,200
Speaker 5: money strategies.

760
00:38:56,920 --> 00:39:01,160
Speaker 4: Safe money Strategies brought to you by Kelly Finance Services.

761
00:39:01,160 --> 00:39:04,960
Speaker 4: Call eight eight eight eight hundred eighteen eighty one. Oh

762
00:39:05,040 --> 00:39:08,719
Speaker 4: visit Kelly Financial dot Hogy.

763
00:39:08,719 --> 00:39:09,919
Speaker 3: It's the coooner Man.

764
00:39:10,200 --> 00:39:13,840
Speaker 8: I've got something truly special for you. Join me on Wednesday,

765
00:39:13,880 --> 00:39:17,200
Speaker 8: October fifteenth from four to six pm for a live

766
00:39:17,320 --> 00:39:20,719
Speaker 8: event at the iHeart Boston Studios in Medford with the

767
00:39:20,760 --> 00:39:24,959
Speaker 8: incredible team from Kelly Financial Services. We'll be talking about

768
00:39:25,040 --> 00:39:29,600
Speaker 8: the things that matter the most, family relationships, today's biggest headlines,

769
00:39:29,680 --> 00:39:33,120
Speaker 8: from politics to culture and everything in between. And that's

770
00:39:33,200 --> 00:39:36,000
Speaker 8: not all You'll get a chance to hear about William

771
00:39:36,120 --> 00:39:37,480
Speaker 8: Kelly's brand new book.

772
00:39:37,640 --> 00:39:38,600
Speaker 3: Meet the Kelly.

773
00:39:38,400 --> 00:39:42,719
Speaker 8: Financial Family Tour the iHeartMedia Studios where the magic of

774
00:39:42,840 --> 00:39:47,280
Speaker 8: radio comes to life. There'll be food, drinks, prizes, plenty

775
00:39:47,320 --> 00:39:49,600
Speaker 8: of unforgettable conversations.

776
00:39:49,760 --> 00:39:51,640
Speaker 3: Space is limited, so reserve your.

777
00:39:51,560 --> 00:39:55,319
Speaker 8: Spot now called eight eight eight eight hundred eighteen eighty one.

778
00:39:55,719 --> 00:39:58,720
Speaker 3: Eight eight eight eight hundred eighteen eighty one. I can't

779
00:39:58,760 --> 00:40:00,680
Speaker 3: wait to see you all. All there.

780
00:40:01,520 --> 00:40:05,920
Speaker 8: Advisory services offered through Kelly Financial Services and SEC Registered

781
00:40:05,960 --> 00:40:06,920
Speaker 8: Investment Advisor.

782
00:40:10,880 --> 00:40:13,360
Speaker 9: Welcome back if you just joined us. We've been talking

783
00:40:13,360 --> 00:40:17,319
Speaker 9: about the fed's upcoming meeting, and another major factor influencing

784
00:40:17,400 --> 00:40:20,520
Speaker 9: the fed's October decision is inflation. Even though the FED

785
00:40:20,560 --> 00:40:24,239
Speaker 9: cut rates in September, inflation hasn't fully cooled, and that

786
00:40:24,280 --> 00:40:25,799
Speaker 9: creates a real challenge.

787
00:40:25,880 --> 00:40:26,600
Speaker 3: That's right, Mike.

788
00:40:26,640 --> 00:40:31,960
Speaker 10: The fed's preferred measure, core personal consumption expenditures or PCE,

789
00:40:32,640 --> 00:40:35,560
Speaker 10: rows two point nine percent year over year in August

790
00:40:35,600 --> 00:40:39,040
Speaker 10: twenty twenty five. It's still running above their target of

791
00:40:39,120 --> 00:40:40,080
Speaker 10: two percent, and.

792
00:40:40,080 --> 00:40:42,200
Speaker 11: Every day consumers failed in their wallets.

793
00:40:42,360 --> 00:40:45,720
Speaker 9: Food prices, for example, are up about four percent, housing

794
00:40:45,800 --> 00:40:49,560
Speaker 9: costs around six percent, and energy prices continue to fluctuate.

795
00:40:49,800 --> 00:40:53,279
Speaker 9: Tariffs on certain imported goods like electronics in clothing at

796
00:40:53,320 --> 00:40:54,840
Speaker 9: another layer of upward pressure.

797
00:40:55,080 --> 00:40:55,680
Speaker 3: Exactly.

798
00:40:55,960 --> 00:40:59,880
Speaker 10: Even moderate inflation affects budgets, particularly for families with fixed

799
00:40:59,880 --> 00:41:04,440
Speaker 10: in cups. When prices rise faster than wages, purchasing power,

800
00:41:04,480 --> 00:41:08,040
Speaker 10: eroads and discretionary spending often gets delayed.

801
00:41:08,120 --> 00:41:10,440
Speaker 11: From the FEDS perspective, they have to weigh.

802
00:41:10,280 --> 00:41:13,120
Speaker 9: The risk of letting inflation accelerate against the risk of

803
00:41:13,160 --> 00:41:17,520
Speaker 9: stalling the economy. Cutting rates too quickly can reignite price pressure,

804
00:41:17,680 --> 00:41:21,640
Speaker 9: while moving too slowly could slow hiring and economic growth.

805
00:41:21,719 --> 00:41:24,880
Speaker 10: And let's not forget the timing of economic data.

806
00:41:24,960 --> 00:41:25,359
Speaker 3: The FED.

807
00:41:25,400 --> 00:41:29,640
Speaker 10: We'll see the September Consumer Price Index or CPI on

808
00:41:29,719 --> 00:41:33,720
Speaker 10: October fifteenth, just two weeks before the meeting. That report

809
00:41:33,840 --> 00:41:38,279
Speaker 10: could dramatically influence their decision, especially if prices come in

810
00:41:38,560 --> 00:41:39,840
Speaker 10: higher than expected.

811
00:41:40,000 --> 00:41:44,600
Speaker 9: So for our listeners, monitoring these inflation indicators is critical.

812
00:41:44,800 --> 00:41:48,840
Speaker 9: They affect not just investment returns, but also practical decisions

813
00:41:48,880 --> 00:41:51,799
Speaker 9: like when to refinance a mortgage, delay big purchase, or

814
00:41:52,000 --> 00:41:53,120
Speaker 9: just spending habits.

815
00:41:53,160 --> 00:41:57,160
Speaker 10: In short, inflation isn't just an abstract number. It's something

816
00:41:57,160 --> 00:42:01,080
Speaker 10: that affects take home pay, investment portfolio, and even the

817
00:42:01,120 --> 00:42:05,680
Speaker 10: Fed's next steps. Understanding the trends helps you anticipate changes

818
00:42:05,800 --> 00:42:08,040
Speaker 10: and protect your financial position.

819
00:42:07,960 --> 00:42:12,480
Speaker 9: Exactly, and with the FED balancing inflation and employment pressure,

820
00:42:12,640 --> 00:42:15,240
Speaker 9: the October meeting promises to be one of the most

821
00:42:15,239 --> 00:42:16,880
Speaker 9: closely watched in recent years.

822
00:42:17,120 --> 00:42:20,400
Speaker 10: Right Mike for our listeners, The end of the year

823
00:42:20,560 --> 00:42:25,200
Speaker 10: is a critical time for portfolio management. Historically, the fourth

824
00:42:25,320 --> 00:42:29,880
Speaker 10: quarter October through December is the strongest period for the

825
00:42:29,920 --> 00:42:33,640
Speaker 10: stock market Since nineteen fifty. The S and P five

826
00:42:33,719 --> 00:42:37,600
Speaker 10: hundred has averaged gains of over four percent in the

827
00:42:37,680 --> 00:42:41,600
Speaker 10: fourth quarter, rising about eighty percent of the time.

828
00:42:41,719 --> 00:42:45,680
Speaker 9: That's true, Greg, but don't forget October is historically volatile.

829
00:42:46,000 --> 00:42:48,960
Speaker 11: Some of the largest market swings occur in this month,

830
00:42:49,040 --> 00:42:50,759
Speaker 11: even though the overall trend for.

831
00:42:50,719 --> 00:42:52,400
Speaker 3: The quarter is usually upward.

832
00:42:52,520 --> 00:42:56,600
Speaker 10: And then there's the classic Santa Claus rally. Positive returns

833
00:42:56,640 --> 00:42:59,799
Speaker 10: often happen in the last trading days of December and

834
00:42:59,840 --> 00:43:03,960
Speaker 10: the the first few days of January. Investor psychology, gearin,

835
00:43:04,080 --> 00:43:09,000
Speaker 10: portfolio rebalancing, and holiday optimism probably all play a role

836
00:43:09,239 --> 00:43:09,960
Speaker 10: for Q.

837
00:43:09,880 --> 00:43:14,120
Speaker 9: Four twenty twenty five. Several factors will influence performance. First,

838
00:43:14,320 --> 00:43:17,759
Speaker 9: the fed's expected rate cuts could boost market confidence and

839
00:43:17,880 --> 00:43:20,560
Speaker 9: reduce borrowing costs for businesses and consumers.

840
00:43:20,760 --> 00:43:24,600
Speaker 10: At the same time, inflation has remained sticky above that

841
00:43:24,800 --> 00:43:28,319
Speaker 10: two percent FED target that could temper the pace of

842
00:43:28,440 --> 00:43:30,960
Speaker 10: rate cuts and keep markets cautious.

843
00:43:31,160 --> 00:43:35,480
Speaker 9: Economic indicators are mixed. On the positive side, consumer spending

844
00:43:35,520 --> 00:43:40,280
Speaker 9: remains resilient and tech sector investments, especially in AI, continue

845
00:43:40,320 --> 00:43:43,719
Speaker 9: to grow, but signs of a slower labor market and

846
00:43:43,960 --> 00:43:47,279
Speaker 9: cautious lower income consumers add uncertainty.

847
00:43:47,400 --> 00:43:51,040
Speaker 10: The US market, particularly large cap tech and all the

848
00:43:51,160 --> 00:43:56,440
Speaker 10: AI related stocks, have shown strong resilience throughout twenty twenty five,

849
00:43:57,000 --> 00:44:03,000
Speaker 10: driven by impressive earnings growth Diversely, International markets, both developed

850
00:44:03,160 --> 00:44:09,160
Speaker 10: and emerging have underperformed, pressured by geopolitical risks and regional

851
00:44:09,440 --> 00:44:10,799
Speaker 10: economic issues.

852
00:44:10,920 --> 00:44:15,280
Speaker 9: Policy matters to the twenty twenty four US election resulted

853
00:44:15,320 --> 00:44:18,440
Speaker 9: in a red sweep, which is expected to support equities

854
00:44:18,480 --> 00:44:23,360
Speaker 9: through pro growth policies, tax cuts, and deregulation. However, concerns

855
00:44:23,400 --> 00:44:28,640
Speaker 9: remain about potential inflationary effects from tariffs and international trade tensions.

856
00:44:28,719 --> 00:44:32,560
Speaker 10: Given these factors, here are some practical strategies we urge

857
00:44:32,600 --> 00:44:36,520
Speaker 10: clients to focus on quality and growth. High quality companies

858
00:44:36,560 --> 00:44:39,160
Speaker 10: with strong earnings and lower debt levels tend to be

859
00:44:39,200 --> 00:44:45,520
Speaker 10: more resilient during economic fluctuations and market turbulence. Second, defensive

860
00:44:45,600 --> 00:44:50,239
Speaker 10: positioning sectors like consumer staples and dividend paying stocks can

861
00:44:50,320 --> 00:44:55,000
Speaker 10: help balance portfolios and reduce volatility. And finally, the third

862
00:44:55,040 --> 00:44:59,680
Speaker 10: point bond market caution. Consider shorter duration bonds and higher

863
00:44:59,760 --> 00:45:04,520
Speaker 10: qualit credit given uncertainty in both rates and fiscal pressures.

864
00:45:04,760 --> 00:45:07,920
Speaker 9: Let's give a reil world example. A retiree relying on

865
00:45:07,960 --> 00:45:11,840
Speaker 9: fixed income may see CD yields decrease with rate cuts.

866
00:45:12,080 --> 00:45:15,080
Speaker 9: Adding dividend paying stocks can help maintain income while it's

867
00:45:15,120 --> 00:45:16,520
Speaker 9: still keeping risk controlled.

868
00:45:16,719 --> 00:45:20,920
Speaker 10: And for growth investors, the tech sector, especially the AI investments,

869
00:45:21,120 --> 00:45:26,160
Speaker 10: could provide opportunities, but remember diversification is key. Balancing high

870
00:45:26,160 --> 00:45:31,600
Speaker 10: growth positions with defensive assets protects your portfolio if volatility spikes.

871
00:45:31,719 --> 00:45:33,399
Speaker 11: Finally, year end strategies matter.

872
00:45:33,560 --> 00:45:38,040
Speaker 9: Many investors engage in tax loss harvesting in October and November,

873
00:45:38,120 --> 00:45:42,400
Speaker 9: which can influence market momentum, and holiday spending often provides

874
00:45:42,440 --> 00:45:44,600
Speaker 9: an additional boost to consumer driven sectors.

875
00:45:44,760 --> 00:45:48,760
Speaker 10: So, to summarize for the fourth quarter in twenty twenty five,

876
00:45:49,160 --> 00:45:54,239
Speaker 10: history favors a positive result. Rate cuts may provide additional tailwinds.

877
00:45:54,400 --> 00:45:58,880
Speaker 10: Tech and AI continue to drive growth, Defensive assets provide stability,

878
00:45:59,239 --> 00:46:02,759
Speaker 10: and geopolitical and inflation risks must be monitored.

879
00:46:02,840 --> 00:46:04,240
Speaker 11: That's right for our listeners.

880
00:46:04,360 --> 00:46:08,000
Speaker 9: Understanding these patterns and strategies can help the difference between

881
00:46:08,040 --> 00:46:11,560
Speaker 9: reacting to the market and positioning yourself to benefit from

882
00:46:11,640 --> 00:46:14,759
Speaker 9: seasonal and economic trends well, Greg, This brings us to

883
00:46:14,800 --> 00:46:16,759
Speaker 9: the end of today's show. We've covered a lot the

884
00:46:16,800 --> 00:46:20,680
Speaker 9: fed's upcoming October meeting, the history of rate changes, labor

885
00:46:20,719 --> 00:46:24,440
Speaker 9: market trends, inflation, global and political factors, and a deep

886
00:46:24,480 --> 00:46:27,839
Speaker 9: dive into fourth quarter market history for twenty twenty five.

887
00:46:28,000 --> 00:46:28,879
Speaker 3: Absolutely, Mike.

888
00:46:28,960 --> 00:46:31,920
Speaker 10: For our listeners, the takeaway is that the Fed's decisions

889
00:46:31,960 --> 00:46:35,320
Speaker 10: affect much more than just interest rates alone. They impact

890
00:46:35,360 --> 00:46:41,040
Speaker 10: borrowing costs, consumer spending, business investment, and ultimately portfolio performance.

891
00:46:41,440 --> 00:46:45,359
Speaker 10: Understanding the interplay between these factors can help you make

892
00:46:45,560 --> 00:46:47,040
Speaker 10: more informed decisions.

893
00:46:47,280 --> 00:46:51,200
Speaker 9: Finally, remember that investing in financial planning our long term games,

894
00:46:51,280 --> 00:46:55,880
Speaker 9: the FED, inflation, geopolitical risks will continue to influence the market.

895
00:46:56,000 --> 00:46:59,200
Speaker 9: By keeping your focus on your goals and using strategies

896
00:46:59,200 --> 00:47:03,960
Speaker 9: like diversification, defensive positioning, and growth allocation will help you

897
00:47:04,000 --> 00:47:04,680
Speaker 9: stay on track.

898
00:47:04,800 --> 00:47:08,120
Speaker 10: That's right, Mike. For anyone listening. If you want help

899
00:47:08,239 --> 00:47:12,880
Speaker 10: reviewing your portfolio or developing a strategy tailored to your goals,

900
00:47:13,239 --> 00:47:16,359
Speaker 10: reach out to us today at Kelly Financial Services. Being

901
00:47:16,440 --> 00:47:20,680
Speaker 10: proactive today can make a big, big difference tomorrow.

902
00:47:20,680 --> 00:47:22,560
Speaker 3: With that, I'm Greg Workman.

903
00:47:22,360 --> 00:47:24,319
Speaker 9: And I'm Mike you said, thank you for tuning in

904
00:47:24,360 --> 00:47:28,320
Speaker 9: to safe money strategies.

905
00:47:31,280 --> 00:47:35,400
Speaker 8: Joining us now as she always does at this time,

906
00:47:35,920 --> 00:47:41,640
Speaker 8: she's the co founder, CEO, president of Kelly Financial Services.

907
00:47:42,160 --> 00:47:48,600
Speaker 8: And yes, that is her wonderful name, Kelly, Kelly, Kelly,

908
00:47:49,440 --> 00:47:50,480
Speaker 8: How are.

909
00:47:50,520 --> 00:47:52,880
Speaker 6: You good morning, Jeff?

910
00:47:53,040 --> 00:47:57,640
Speaker 7: I am good. When it comes to retirement, women often

911
00:47:57,719 --> 00:48:02,200
Speaker 7: face a different journey. We live longer, we sometimes earn less,

912
00:48:02,440 --> 00:48:04,920
Speaker 7: and many of us step out of the workforce to.

913
00:48:04,920 --> 00:48:05,920
Speaker 6: Care for family.

914
00:48:06,280 --> 00:48:09,520
Speaker 7: That's why it's so important to have a retirement plan

915
00:48:09,719 --> 00:48:13,440
Speaker 7: designed with women in mind. We continue to share our

916
00:48:13,560 --> 00:48:18,480
Speaker 7: popular and valuable guide Ten Tips to Empower Women Investors

917
00:48:18,840 --> 00:48:22,600
Speaker 7: is filled with practical strategies like keeping money in your

918
00:48:22,600 --> 00:48:27,799
Speaker 7: own name, paying yourself first, facing financial fears head on,

919
00:48:28,320 --> 00:48:32,399
Speaker 7: and planning for your family's future. These steps help give

920
00:48:32,440 --> 00:48:34,960
Speaker 7: you confidence and control over.

921
00:48:34,800 --> 00:48:38,680
Speaker 6: Your financial destiny. Your retirement deserves.

922
00:48:38,200 --> 00:48:41,120
Speaker 7: A plan that's as strong and unique as you are

923
00:48:41,400 --> 00:48:44,120
Speaker 7: to request your free copy. Just give us a call

924
00:48:44,280 --> 00:48:48,720
Speaker 7: or email us at Kelly at Kellyfinancial dot org. And Jeff,

925
00:48:48,760 --> 00:48:52,400
Speaker 7: We're so excited for our vent with you on October fifteenth.

926
00:48:52,480 --> 00:48:54,839
Speaker 7: This is getting closer and we cannot wait.

927
00:48:55,560 --> 00:48:57,360
Speaker 3: I'm looking forward to it. We're going to have it

928
00:48:57,400 --> 00:48:58,640
Speaker 3: at the iHeart Studio.

929
00:48:59,320 --> 00:49:03,760
Speaker 8: I'm going to be talking about current events, family, obviously,

930
00:49:03,800 --> 00:49:07,319
Speaker 8: everything Kelly Financial has done for the Kooner Report. I'm

931
00:49:07,400 --> 00:49:10,799
Speaker 8: so looking forward to it, and I believe there are

932
00:49:10,880 --> 00:49:13,799
Speaker 8: still a few tickets you can grab if you want

933
00:49:13,800 --> 00:49:17,439
Speaker 8: to come. Eight eighty eight eight hundred, eighteen eighty one

934
00:49:18,040 --> 00:49:22,040
Speaker 8: eight eight eight eight hundred eighteen eighty one Kelly, have

935
00:49:22,160 --> 00:49:23,920
Speaker 8: a wonderful weekend.

936
00:49:28,840 --> 00:49:35,400
Speaker 4: Safe Money Strategies A eight eight hundred one eight eight one.

937
00:49:35,880 --> 00:49:39,080
Speaker 5: This week we hear Bill Kelly share a story about

938
00:49:39,120 --> 00:49:42,560
Speaker 5: how one opportunity and the willingness to work for it

939
00:49:42,960 --> 00:49:46,799
Speaker 5: changed the direction of his life from hauling trash and

940
00:49:46,960 --> 00:49:51,520
Speaker 5: providence to proudly serving his country through the US Air Force.

941
00:49:51,920 --> 00:49:55,520
Speaker 5: It's a reminder of the power of perseverance and a

942
00:49:55,680 --> 00:49:56,520
Speaker 5: helping hand.

943
00:49:56,880 --> 00:49:58,040
Speaker 6: Here's Bill Kelly.

944
00:49:59,080 --> 00:50:01,720
Speaker 14: My first real job, how about a school, was hauling

945
00:50:01,760 --> 00:50:05,280
Speaker 14: trash for a foundation that restored homes built before eighteen

946
00:50:05,360 --> 00:50:10,400
Speaker 14: hundred and named aptly enough, the Restoration Foundation. Generally, the

947
00:50:10,480 --> 00:50:12,360
Speaker 14: trash man would be laid off for the winner, so

948
00:50:12,400 --> 00:50:15,040
Speaker 14: I figured I would end up collecting unemployment for a while.

949
00:50:15,400 --> 00:50:18,160
Speaker 14: I was talking to gramp one day and mentioned that

950
00:50:18,239 --> 00:50:21,040
Speaker 14: I was expecting to be unemployed that winner and wasn't

951
00:50:21,120 --> 00:50:25,240
Speaker 14: sure where I really wanted to go to school. Graham said, well,

952
00:50:25,280 --> 00:50:27,880
Speaker 14: go down to the unemployment office and see Mary Hackett.

953
00:50:28,239 --> 00:50:30,160
Speaker 14: There might be something there for you a little better

954
00:50:30,200 --> 00:50:33,920
Speaker 14: than unemployment. This was my first political favor because I

955
00:50:33,960 --> 00:50:36,480
Speaker 14: had driven for the Democrats for two years since I

956
00:50:36,480 --> 00:50:39,440
Speaker 14: had gotten my license. I always worked the phones and

957
00:50:39,480 --> 00:50:42,000
Speaker 14: helped out at the polls whenever I could, and my

958
00:50:42,120 --> 00:50:46,160
Speaker 14: parents were staunch Irish Catholic Democrats. My mother held tees

959
00:50:46,239 --> 00:50:48,880
Speaker 14: and gatherings in her living room. I went down to

960
00:50:48,880 --> 00:50:51,600
Speaker 14: the Unemployment office and spoke with Mary Hackett, who said,

961
00:50:51,920 --> 00:50:54,800
Speaker 14: there's a program that will send you to electronics school.

962
00:50:55,400 --> 00:50:58,840
Speaker 14: Back then, New England Institute of Technology was nowhere nearly

963
00:50:58,880 --> 00:51:01,440
Speaker 14: as well formed as it is now. It was just

964
00:51:01,480 --> 00:51:05,319
Speaker 14: a small school in Providence. Mary then said, what we're

965
00:51:05,320 --> 00:51:07,600
Speaker 14: going to do is pay you eighty dollars a week

966
00:51:07,960 --> 00:51:10,480
Speaker 14: while you go to New England Tech, and then when

967
00:51:10,520 --> 00:51:14,440
Speaker 14: you're done, we'll place you somewhere for employment. She added,

968
00:51:14,680 --> 00:51:16,880
Speaker 14: But if you can find an employer to sponsor you

969
00:51:17,600 --> 00:51:19,480
Speaker 14: and a state, they will hire you when you leave

970
00:51:19,520 --> 00:51:23,920
Speaker 14: New England Tech, you can have this scholarship. They were

971
00:51:23,960 --> 00:51:26,200
Speaker 14: going to pay the tuition and pay me eighty dollars

972
00:51:26,239 --> 00:51:28,200
Speaker 14: a week to go to school. I told her that

973
00:51:28,239 --> 00:51:30,719
Speaker 14: sounded like a great deal. I went to one of

974
00:51:30,760 --> 00:51:33,840
Speaker 14: the electronics firms in Providence and told them what I

975
00:51:33,880 --> 00:51:36,400
Speaker 14: wanted to do. They said they would write me a

976
00:51:36,480 --> 00:51:38,759
Speaker 14: letter when I graduated, and during the summer I could

977
00:51:38,760 --> 00:51:40,799
Speaker 14: come and work for them. But it was a year

978
00:51:40,880 --> 00:51:43,600
Speaker 14: round school, so I set everything up. I went to

979
00:51:43,680 --> 00:51:47,080
Speaker 14: radio Shack and got some electronics kits, then borrowed books

980
00:51:47,120 --> 00:51:50,120
Speaker 14: from the library. I experimented and made all kinds of

981
00:51:50,160 --> 00:51:54,120
Speaker 14: devices in my bedroom, really learning about electronic circuitry in

982
00:51:54,160 --> 00:51:56,719
Speaker 14: the process. In the middle of the summer, when I

983
00:51:56,840 --> 00:51:59,560
Speaker 14: visited New England Tech, they showed me what I would

984
00:51:59,600 --> 00:52:02,080
Speaker 14: be doing, so I got a couple of the textbooks

985
00:52:02,080 --> 00:52:05,560
Speaker 14: and started studying Early. My bedroom looked like some kind

986
00:52:05,600 --> 00:52:09,200
Speaker 14: of laboratory. Then Dad met an air Force recruiter at

987
00:52:09,200 --> 00:52:12,919
Speaker 14: a Knights of Columbus meeting. The recruiter said, they're looking

988
00:52:13,000 --> 00:52:16,200
Speaker 14: for people who want to learn computer science. They'll teach

989
00:52:16,200 --> 00:52:18,799
Speaker 14: you everything you need to know, but you have to

990
00:52:18,840 --> 00:52:21,839
Speaker 14: pass an aptitude test. When he told me about it,

991
00:52:21,920 --> 00:52:23,960
Speaker 14: I said I wanted to give it a shot. In

992
00:52:24,080 --> 00:52:27,760
Speaker 14: speaking with the Air Force recruiter, Sergeant Frye, I mentioned

993
00:52:27,800 --> 00:52:30,439
Speaker 14: I had a full scholarship to learn electronics and asked

994
00:52:30,480 --> 00:52:33,520
Speaker 14: him if he had anything better. He said, yes, the

995
00:52:33,600 --> 00:52:36,400
Speaker 14: F fifteen. That was thirty five years ago and the

996
00:52:36,440 --> 00:52:39,960
Speaker 14: plane was brand new. He continued, the F fifteen is

997
00:52:40,000 --> 00:52:43,279
Speaker 14: going to be completely computer tested. We'll put you in

998
00:52:43,320 --> 00:52:45,040
Speaker 14: school for a year and a half, but you'll have

999
00:52:45,080 --> 00:52:47,520
Speaker 14: to sign up for six years. We'll get you at

1000
00:52:47,600 --> 00:52:50,080
Speaker 14: least an associate's degree out of the deal, and we'll

1001
00:52:50,120 --> 00:52:52,799
Speaker 14: help you with some other tuition. We need people, so

1002
00:52:52,880 --> 00:52:55,560
Speaker 14: if you can pass this aptitude test, we'll enroll you

1003
00:52:55,600 --> 00:52:58,760
Speaker 14: in the school. I told him I hadn't really started

1004
00:52:58,760 --> 00:53:01,960
Speaker 14: at New England Tech, but had been studying like crazy,

1005
00:53:02,040 --> 00:53:04,279
Speaker 14: so I would go ahead and take the test. I

1006
00:53:04,320 --> 00:53:08,239
Speaker 14: scored a ninety eight in electronics. Sergeant fry said, I

1007
00:53:08,280 --> 00:53:10,840
Speaker 14: think you can get this but are you willing to

1008
00:53:10,880 --> 00:53:13,319
Speaker 14: take that risk. You'll have to sign up for a

1009
00:53:13,360 --> 00:53:16,120
Speaker 14: six year stay, but if you do, we'll guarantee you

1010
00:53:16,160 --> 00:53:19,040
Speaker 14: in advanced technical school in Denver. So I did it.

1011
00:53:19,520 --> 00:53:23,520
Speaker 14: The scholarship to New England Tech had to be returned. John,

1012
00:53:23,560 --> 00:53:27,160
Speaker 14: my fellow trash truck driver, was very interested in electronics.

1013
00:53:27,320 --> 00:53:29,520
Speaker 14: I told him I wasn't going to take the scholarship

1014
00:53:29,680 --> 00:53:32,080
Speaker 14: and suggested we go to the unemployment office to see

1015
00:53:32,080 --> 00:53:34,319
Speaker 14: if he could have it. We went and spoke to

1016
00:53:34,360 --> 00:53:37,239
Speaker 14: missus Hackett. I told her I had been accepted to

1017
00:53:37,280 --> 00:53:39,840
Speaker 14: a two year school at the Air Force Technical Center

1018
00:53:39,920 --> 00:53:43,719
Speaker 14: in Denver, and I really wanted to pursue that. Later on,

1019
00:53:43,880 --> 00:53:46,719
Speaker 14: John got accepted and took my place at New England Tech.

1020
00:53:47,200 --> 00:53:50,560
Speaker 14: Theoretically I never took the welfare, but I was prepared to.

1021
00:53:50,960 --> 00:53:53,319
Speaker 14: The Government would have been giving me money while I

1022
00:53:53,400 --> 00:53:56,040
Speaker 14: was going to school and not working. So I went

1023
00:53:56,080 --> 00:53:58,520
Speaker 14: to school in Denver and learned how to do the

1024
00:53:58,520 --> 00:54:02,840
Speaker 14: computerized testing of fifteen aircraft. It was the first of

1025
00:54:02,880 --> 00:54:06,239
Speaker 14: its type. They sent me all over the world. For

1026
00:54:06,360 --> 00:54:09,440
Speaker 14: six years. I was constantly in school and made fabulous

1027
00:54:09,480 --> 00:54:12,960
Speaker 14: money when I got out. That delayed my going back

1028
00:54:12,960 --> 00:54:15,600
Speaker 14: to college even more. On my first job out of

1029
00:54:15,640 --> 00:54:18,120
Speaker 14: the Air Force, I was earning well in excess of

1030
00:54:18,160 --> 00:54:21,919
Speaker 14: one hundred thousand dollars. Incredibly enough, it was totally worth

1031
00:54:21,960 --> 00:54:25,359
Speaker 14: the struggle. Believe me, Getting that first meeting with Mary

1032
00:54:25,400 --> 00:54:29,080
Speaker 14: Hackett did me a favor. Anyone can know anyone else

1033
00:54:29,120 --> 00:54:32,239
Speaker 14: who's six degrees of separation, and that's all you need.

1034
00:54:32,840 --> 00:54:36,160
Speaker 14: So I had an assisted launch. Then again, I ended

1035
00:54:36,239 --> 00:54:38,280
Speaker 14: up knowing I had that help and took a further

1036
00:54:38,320 --> 00:54:40,680
Speaker 14: little jump off the perch to try to better myself.

1037
00:54:41,280 --> 00:54:43,520
Speaker 14: I knew my baseline was going to be attending New

1038
00:54:43,520 --> 00:54:47,080
Speaker 14: England Tech and having a job in electronics technology. Knowing

1039
00:54:47,120 --> 00:54:49,480
Speaker 14: that made me feel a lot better. But I ended

1040
00:54:49,560 --> 00:54:53,200
Speaker 14: up having a fabulous technical education and a fabulous job.

1041
00:54:53,680 --> 00:54:56,520
Speaker 14: I traveled the world, helped defend the country, and then

1042
00:54:56,560 --> 00:54:59,560
Speaker 14: put on my civilian hat again. That journey ended up

1043
00:54:59,600 --> 00:55:01,720
Speaker 14: being a a great ten year period in my life.

1044
00:55:02,200 --> 00:55:04,600
Speaker 14: I was single and didn't have my own family then,

1045
00:55:04,880 --> 00:55:06,840
Speaker 14: but I was not in despair, nor was I asking

1046
00:55:06,880 --> 00:55:09,160
Speaker 14: the government to take care of my entire life and

1047
00:55:09,200 --> 00:55:12,040
Speaker 14: do everything for me. I just needed a little bit

1048
00:55:12,040 --> 00:55:15,400
Speaker 14: of a boost, which I got, and it dramatically changed

1049
00:55:15,400 --> 00:55:18,320
Speaker 14: my life. At that time, A helping hand often seems

1050
00:55:18,360 --> 00:55:21,839
Speaker 14: to work better than just giving someone total welfare. It's

1051
00:55:21,840 --> 00:55:24,600
Speaker 14: that old hand up instead of a hand out. There

1052
00:55:24,640 --> 00:55:27,440
Speaker 14: was a path to improvement for me, a path that

1053
00:55:27,480 --> 00:55:30,759
Speaker 14: went onward and upward. I'm sure there's also a way

1054
00:55:30,760 --> 00:55:33,920
Speaker 14: out for others today. However, I don't think the way

1055
00:55:33,960 --> 00:55:38,040
Speaker 14: out is by fundamentally transforming our government into a quasi

1056
00:55:38,120 --> 00:55:41,480
Speaker 14: communist beloadd bureaucracy in which we have to share the

1057
00:55:41,520 --> 00:55:44,480
Speaker 14: wealth with everyone. We weren't told that anyone was going

1058
00:55:44,480 --> 00:55:46,359
Speaker 14: to share his or her wealth with us when we

1059
00:55:46,360 --> 00:55:49,759
Speaker 14: were growing up. We were told, you have to get

1060
00:55:49,760 --> 00:55:50,240
Speaker 14: a job.

1061
00:55:53,400 --> 00:55:58,839
Speaker 4: Nicole Kelly Financial Services eight eight hundred eighteen eighty one