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Speaker 1: It's coming to us, So.

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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. Over the past two decades, Dad became a

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Speaker 2: pillar in New England finance, an engineer, turn entrepreneur, author

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Speaker 2: and philanthropist who believed in giving back and walking the talk.

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Speaker 2: Since five, our show has remained a Saturday morning staple,

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Speaker 2: offering insight and empowerment. Here at Kelly Financial, we help

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Speaker 2: steward over eight hundred million dollars across our affiliated business,

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Speaker 2: including more than six hundred million dollars managed by our

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Speaker 2: sec registered investment advisory, where fiduciary care and our family

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Speaker 2: first philosophy guides us on safe money strategies. You'll hear

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Speaker 2: candid conversations with the team, my mother Kelly, myself, advisors

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Speaker 2: Charlie Gable, Mike Ducett, Greg Workman, Greg Murray, my sister

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Speaker 2: Mary Madeline, and Tom Schlager. We live by two rules,

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Speaker 2: never quit and carry on, and we're here to help

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Speaker 2: you do the same when it comes to your money.

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Speaker 2: Stick around, take notes and join the conversation. To learn

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Speaker 2: more or get our free guides or schedule consultation, visit

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Speaker 2: Kellyfinancial dot org or call us at eighty eight eight

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Speaker 2: eight hundred one eight eight one. 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 3: Safe Money Strategies with William Kelly and Kelly Kelly eight

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Speaker 3: hundred eighteen eighty one.

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Speaker 4: Each week on Safe Money Strategies, we take a moment

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Speaker 4: to step back from the headlines and have a real conversation,

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Speaker 4: the kind you might have around the kitchen table. This

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Speaker 4: is a part of the show we call Forever Young

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Speaker 4: is where I sit down with my son, my handsome son, Wow,

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Speaker 4: William Kelly Junior, and we talk about life, what's going

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Speaker 4: on in the world, in our family, and what really

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Speaker 4: matters most when you're planning for the future.

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Speaker 5: Sometimes is light, sometimes is thoughtful, but it's always real.

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Speaker 5: Good morning William.

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Speaker 1: Good morning Mom. Those almost week two in a row,

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Speaker 1: but you save yourself there.

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Speaker 2: Last week she forgot to call me handsome, and I

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Speaker 2: was so offended that I mentioned in the conversation.

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Speaker 1: But it seems like you've redeemed yourself.

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Speaker 6: Mom.

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Speaker 5: I pretty good. Yes, yes, my handsome son. So how

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Speaker 5: are you?

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Speaker 1: I'm great. The weather, we had one really good day.

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Speaker 2: It was like basically fifty something degrees out over at

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Speaker 2: school at Bryant.

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Speaker 1: It was awesome and I.

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Speaker 2: Caught as much sun as possible until the weather went

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Speaker 2: back to gloom and then.

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Speaker 1: You know, it's been going up and down. I'm very

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Speaker 1: excited for the springtime.

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Speaker 5: I'll tell you that I think we all are yes.

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Speaker 5: All of New England is yes.

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Speaker 1: We had bad news about my grade.

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Speaker 5: I know this. I don't mean didn't erupt.

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Speaker 4: But it feels like every Saturday when we when we

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Speaker 4: do our segment together that you confess about something.

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Speaker 5: I know there's always some confession.

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Speaker 1: There always is a confession.

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Speaker 7: Parties is not that bad, it's horrible.

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Speaker 4: But I just happened to ask about your test and.

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Speaker 1: It just wasn't good.

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Speaker 2: But you know, luckily he expected people to do poorly

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Speaker 2: on the first one, so you made that exam only

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Speaker 2: ten percent worth of our grade. And the good news

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Speaker 2: is that I still have an A in the class good,

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Speaker 2: so it wasn't catastrophic.

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Speaker 1: But and Creative Writing class, I was in class.

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Speaker 2: It was online because of the blizzard, and my professor

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Speaker 2: she goes and she holds me back. She said, Welliam,

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Speaker 2: do you stay after class? Just you alone? And I'm like,

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Speaker 2: do I do something wrong? I don't think I did

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Speaker 2: anything wrong, you know, and so I'm staying there. She said, William,

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Speaker 2: sorry to keep you after class. I just want to

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Speaker 2: hold you. I didn't want to say this in front

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Speaker 2: of anybody else to make them, you know, jealous, or.

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Speaker 1: To cause an issue.

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Speaker 2: But she said, William, that was one of the best

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Speaker 2: papers I've ever read. And I just sat there. I

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Speaker 2: was like, what you know she gave me? We had

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Speaker 2: an assignment which was a rough draft on her essay.

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Speaker 2: And the rough draft was basically, you submit it intentionally

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Speaker 2: as a rough draft, and then she grades it and

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Speaker 2: then she puts her comments, and then you submit the fund.

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Speaker 5: And did she give you the topic or did you

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Speaker 5: choose the topic.

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Speaker 2: The topic was we had to write a rhetorical analysis

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Speaker 2: on a civil rights or a politically civil like a

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Speaker 2: civil rights struggle, essentially of any kind, any kind of injustice,

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Speaker 2: social injustice, not like social Justice Warrior, but like Martin

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Speaker 2: Luther King for examples, who I picked. I picked a

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Speaker 2: letter from the Birmingham Jel that he wrote, and I

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Speaker 2: did do a rhetorical analysis. And you had to pick

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Speaker 2: out like the logos, the ethos, the cairos, and the pathos,

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Speaker 2: and you had to define those how doctor Martin Luther

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Speaker 2: King for me in particular, how he used those tools

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Speaker 2: in his essay to write a really compelling letter. I

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Speaker 2: threw in some background information, but she said, William, you

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Speaker 2: didn't write a summary.

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Speaker 1: You wrote an analysis. Is exactly what I wanted.

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Speaker 2: Do I have your permission to use this as an

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Speaker 2: example for future classes?

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Speaker 7: And I was just like, wow, I'm calling my mom.

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Speaker 1: Right after this.

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Speaker 5: She said, so excited.

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Speaker 1: Summit the essay. She said, don't worry about it. You know,

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Speaker 1: I'm not saying you have to come to class.

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Speaker 2: But like if you don't come, I won't mark anything,

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Speaker 2: So don't worry about attendance.

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Speaker 1: I started laughing.

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Speaker 2: But she was gone all week because she was in

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Speaker 2: Atlanta and she had a trip. It was like a

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Speaker 2: civil rights trip, a history and doctor Martin Luther King's

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Speaker 2: personal driver, he was nineteen years old when he was

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Speaker 2: his personal family driver, was leading the tour of his

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Speaker 2: house of all sorts of history and like lectures and stuff. Wow,

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Speaker 2: this guy's running in Atlanta and she highly recommended it

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Speaker 2: to me.

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Speaker 1: I looked him up.

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Speaker 2: Really interesting guy, and I just thought it was magnificent.

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Speaker 2: So we had a great conversation. It was really it

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Speaker 2: was a fun paper. I really liked writing it. She's

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Speaker 2: also a fantastic teacher and that helps as well. So

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Speaker 2: it was very good news.

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Speaker 1: Hearing that now, that is so exciting. That completely threw.

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Speaker 2: Away any bad nerves I had about the ECON exam,

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Speaker 2: and I felt great. I also my political science professor

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Speaker 2: said that my essays are perfect.

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Speaker 1: He says, keep writing them the way you're writing them.

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Speaker 7: Good.

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Speaker 1: There you go. It's been a great week.

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Speaker 5: Good was good to see you. Good to see You're

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Speaker 5: a little stuffed.

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Speaker 1: Up a little bit. Something's going around campus, but it's

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Speaker 1: not terrible.

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Speaker 5: Yeah, you seem to sort of dodge it.

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Speaker 2: Yeah, more or less. But yeah, first, I've been second forever. Yeah,

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Speaker 2: didn't miss it?

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Speaker 4: Yeah, well I had some chicken noodle soup homemade ready

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Speaker 4: for you. Do keep us on your dial. We've got

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Speaker 4: a lot of great content coming your way. Mike dust

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Speaker 4: and Greg Workman will break down the hidden tax traps

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Speaker 4: that can quietly impact retirees and the smart planning strategies

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Speaker 4: designed to help families stay ahead of them. Mary, Madeline

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Speaker 4: Kelly and Greg Murray will explore a powerful question many

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Speaker 4: savers overlook. Are you preparing responsibly for the future while

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Speaker 4: still allowing yourself to fully enjoy the life you've worked

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Speaker 4: so hard to build. When William and I return, we

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Speaker 4: will introduce a new retirement trend called the Great Digital

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Speaker 4: Nomad and what it could mean for your future. And

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Speaker 4: of course we'll close the hour with some wit and

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Speaker 4: wisdom from the late Bill Kelly. His words continue you

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Speaker 4: to inspire and guide us. That's a wrap for forever

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Speaker 4: young Thank you for listening, and William, thank you for

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Speaker 4: joining me.

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Speaker 5: We'll be back with more great content.

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Speaker 8: I love you, honey, I love you too.

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Speaker 6: Okay, my friends, let's be honest.

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Speaker 9: Most young people don't get real financial advice they get

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Speaker 9: high social media, quote unquote experts and a lot of

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Speaker 9: bad advice. Only The Good invest Young, written by William

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Speaker 9: Kelly Junior from Kelly Financial Services, takes a different approach.

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Speaker 9: It focuses on fundamentals, avoiding unnecessary debt, understanding risk taking

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Speaker 9: long term, No get rich quick schemes, no fantasy economics.

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Speaker 9: The emphasis is on practical ideas around money, responsibility and discipline,

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Speaker 9: and of course, worse, like anything involving investing, there's always

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Speaker 9: risk and that includes the possibility of losing principle. And

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Speaker 9: that's exactly why learning how to think about money early matters.

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Speaker 9: If the book is designed as an educational resource for

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Speaker 9: those starting out, or for parents and grandparents looking to

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Speaker 9: begin the conversation. To request a free copy called eight

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Speaker 9: eight eight eight hundred eighteen eighty one or email Kelly

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Speaker 9: at Kelly Financial dot org.

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Speaker 7: Welcome back to Save Money Strategies.

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Speaker 10: I'm Mike Dussat, Chief Operating Officer at Kelly Financial and

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Speaker 10: alongside me, as always is Greg Workman, investment Advisor. Each

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Speaker 10: week we talk about the decisions that can make or

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Speaker 10: break your retirement, not just investment returns, but income taxes,

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Speaker 10: social security, pensions, estate planning, and most importantly, how all

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Speaker 10: of those pieces fit together. Last week, we covered what

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Speaker 10: we called the retirement tax trap. We talked about how

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Speaker 10: many retirees unknowingly build large tax deferred accounts such as

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Speaker 10: four oh one k's iras four or three b's, and

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Speaker 10: how those accounts can turn into ticking tax time bombs

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Speaker 10: once required minimum distributions begin. We discussed how today's historically

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Speaker 10: low tax brackets may not be here forever, and we

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Speaker 10: talked about the danger of waiting too long to address

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Speaker 10: tax exposure. Today, we're taking the conversation one step further. Greg,

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Speaker 10: there's another tax trap that most retirees never see coming,

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Speaker 10: and it doesn't show up until one spouse passes away.

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Speaker 6: That's where Mike, and this one is emotional and financial

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Speaker 6: at the same time. We call it the widow's penalty,

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Speaker 6: or what I often describe as tax bracket shock. It

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Speaker 6: happens when a married couple files jointly. They benefit from

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Speaker 6: wider tax brackets and a higher standard deduction. But when

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Speaker 6: one spouse passes away, the surviving spouse eventually files as

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Speaker 6: a single taxpayer. And here's the problem. The tax brackets

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Speaker 6: shrink dramatically at that time.

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Speaker 7: That's the part that surprises people.

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Speaker 10: Income may not drop much, but the tax bracket gets compressed.

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Speaker 10: Let's walk through a hypothetical client example. For illustration purposes only,

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Speaker 10: we'll call them John and Linda. They're both sixty eight

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Speaker 10: years old, recently retired. Between social Security, a pension, and

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Speaker 10: withdrawers from their IRA, their total income is about one

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Speaker 10: hundred and forty thousand per year. Married filing jointly, That

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Speaker 10: keeps them comfortably within a moderate tax bracket. Nothing extreme,

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Speaker 10: very manageable. Now let's fast forward ten years. John passes

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Speaker 10: away at seventy eight. Linda is now widowed Greg.

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Speaker 6: What happens well, First, emotionally, it's devastating, but financially the

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Speaker 6: structure changes immediately. Linda now files as a single taxpayer.

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Speaker 6: Her social Security benefit may stay relatively similar because she

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Speaker 6: can step into the hire of the two benefits, so

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Speaker 6: between hers and her late husbands. The pension may drop

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Speaker 6: depending upon the survivor option that was elected. But here's

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Speaker 6: the key. Their IRA balance hasn't disappeared, and required minimum

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Speaker 6: distributions don't stop. So even if her income drops from

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Speaker 6: one hundred and forty thousand to say one hundred and

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Speaker 6: ten thousand, she could easily move into a higher tax

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Speaker 6: bracket because now she's filing single.

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Speaker 10: So she's earning less but potentially paying more in taxes.

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Speaker 10: That's the widow's penalty. And here's where it gets even

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Speaker 10: more dangerous. When we combine that bracket compression with ongoing rmds,

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Speaker 10: capital gains distributions, medicare, premium searcharges, possible long term care expenses,

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Speaker 10: the surviving spouse often experiences more financial pressure at the

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Speaker 10: exact moment life fills.

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Speaker 6: Most fragile and most couples never see a because when

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Speaker 6: both are alive, everything looks fine. Their CPA is filing jointly,

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Speaker 6: their tax rate feels manageable, and they assume if income

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Speaker 6: drops later, taxes will follow suit. But that assumption is

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Speaker 6: often wrong.

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Speaker 7: When you look at the tax tables.

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Speaker 10: Married filing jointly, brackets are roughly double the size of

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Speaker 10: single brackets, not exactly double, and the higher you go,

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Speaker 10: the more compressed it becomes.

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Speaker 6: So if a couple was sitting comfortably and say the

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Speaker 6: twenty two percent bracket while married, the surviving spouse might

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Speaker 6: find herself pushed into the twenty four or thirty two

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Speaker 6: percent bracket at a lower income threshold. And remember this

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Speaker 6: often happens at later ages late seventies or eighties, when

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Speaker 6: required minimum distributions are mandatory, Investment flexibility is reduced and

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Speaker 6: planning options while they become narrower.

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Speaker 7: And that's the key point. Options shrink with time.

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Speaker 10: The earlier you plan, the more control you have greg

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Speaker 10: This is where we see the power of proactive tax planning,

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Speaker 10: especially in the early retirement years before URMDA.

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Speaker 6: Exactly, the window between retirement and age seventy three before

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Speaker 6: required minimum distributions begin is often the most powerful tax

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Speaker 6: planning window a couple will ever have. If we know

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Speaker 6: bracket compression is likely later, if we know one spouse

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Speaker 6: will eventually file single, if we know tax deferred balances

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Speaker 6: are large, why not start managing that exposure intentionally while

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Speaker 6: both spouses are alive and filing jointly.

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Speaker 10: I want to pause here for a moment, because this

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Speaker 10: topic isn't just math. Most couples don't like talking about

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Speaker 10: one spouse passing away. It's uncomfortable, it feels morbid, but

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Speaker 10: ignoring it doesn't make it go away. In fact, thoughtful

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Speaker 10: planning is one of the most loving things spouses can

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Speaker 10: do for each other, because the goal isn't just maximizing returns.

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Speaker 10: It's reducing stress for the surviving spouse. It's making sure

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Speaker 10: they're not learning about tax bracket compression from the irs.

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Speaker 7: That's right.

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Speaker 6: We've seen situations again, hypothetically speaking, where a surviving spouse

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Speaker 6: comes in after a loss and says, I had no

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Speaker 6: idea our tax picture would look like this, and unfortunately,

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Speaker 6: at that point many of the best strategies are no

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Speaker 6: longer available. Roth conversion opportunities were missed, income smoothing windows

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Speaker 6: were closed, and bracket management was never done. Now we're

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Speaker 6: reacting instead of doing some proactive planning.

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Speaker 10: Now here's the encouraging part. This is preventable. Bracket shock

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Speaker 10: is not inevitable. It's predictable. And when something is predictable,

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Speaker 10: it can be planned for. That's what we do inside

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Speaker 10: the Money Strategies planning process. We don't just look at

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Speaker 10: this year's tax return. We project forward. We ask what

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Speaker 10: happens at first death, what happens at RM d AH,

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Speaker 10: what happens if tax rates rise, what happens if one

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Speaker 10: pension stops? And when we stress test those scenarios in advance,

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Speaker 10: families gain clarity, and clarity reduces anxiety. Greg As we

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Speaker 10: head into the break, what's the one takeaway you want

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Speaker 10: listeners to remember from the first half.

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Speaker 6: If you're married and retired or within ten years of retirement,

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Speaker 6: and most of your assets are in tax deferred accounts,

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Speaker 6: you likely have exposure to bracket compression at first death.

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Speaker 6: The question isn't whether one spouse will pass first. The

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Speaker 6: question should be whether this surviving spouse will be financially

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Speaker 6: prepared when it happens.

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Speaker 7: That's powerful.

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Speaker 10: When we come back, we're going to talk about specific

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Speaker 10: strategies that can reduce or even eliminate the widow's penalty,

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Speaker 10: including roth conversions, pension elections, social security timing, and coordinated

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Speaker 10: to safe planning.

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Speaker 7: You're listening to safe money strategies, stay with us.

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Speaker 3: Kelly Financial Services eight eight eight eight hundred, eighteen eighty one.

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Speaker 4: I'm Kelly Kelly from Kelly Financial. Is your financial advisor

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Speaker 4: a fiduciary? In other words, are they legally required to

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Speaker 4: act in your best interest? My complimentary book, Retire Your Fear,

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Speaker 4: Plan Your Future explains what a fiduciary is and will

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Speaker 4: help you understand if an advisor is really putting you first.

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Speaker 6: For the book.

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Speaker 4: Call eight eight eight eight hundred eighteen eighty one or

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Speaker 4: email Kelly at Kellyfinancial dot org.

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Speaker 5: We're Kelly Financial. Come retire with us.

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Speaker 3: The Money Wrap with Kelly Financial Advisors Greg Murray and

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Speaker 3: Mary Madeline Kelly.

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Speaker 7: Hello.

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Speaker 11: This is Greg Murray, Senior vice president and Chief Compliance

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Speaker 11: Officer at Kelly Financial Services. Joining me today is Mary

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Speaker 11: Mavielle and Kelly, one of our wealth advisors. How are

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Speaker 11: you doing today?

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Speaker 1: Hi?

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Speaker 6: Greg.

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Speaker 8: I'm doing great, and I'm especially excited because by the

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Speaker 8: time this airs, I will be in vacation in Japan,

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Speaker 8: which has been on my bucket list for a long time.

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Speaker 8: I just love traveling because it reminds me of how

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Speaker 8: important it is to enjoy the experiences you work so

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Speaker 8: hard for.

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Speaker 11: That's fantastic, and I'll be a way too. I'm heading

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Speaker 11: to Finland, hopefully seeing some snow, maybe even the Northern

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Speaker 11: lights if I'm lucky. It's funny because trips like these

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Speaker 11: really highlight why we plan financially in the first place.

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Speaker 8: That's awesome. I'm excited to hear how it goes, and

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Speaker 8: that actually leads perfectly into today's topic because we're talking

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Speaker 8: about something we see pretty often with clients. Are you

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Speaker 8: oversaving and underliving?

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Speaker 11: That's such an interesting question because most financial advice focuses

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Speaker 11: on saving more, spending less, and preparing for the future.

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Speaker 11: These are all important things, but sometimes people get so

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Speaker 11: focused on the future that they forget to enjoy the present.

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Speaker 8: Yes, and we especially see this with people who've been

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Speaker 8: disciplined savers for years. They've done everything right, maxed out

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Speaker 8: retirement accounts, paid down debt, built strong portfolios, but they

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Speaker 8: still feel hesitant to spend even when they absolutely can, and.

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Speaker 11: That hesitation usually comes from uncertainty. People worry what if

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Speaker 11: I need this later, what if the market drops, what

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Speaker 11: if I live longer than expected?

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Speaker 8: And those are valid concerns, longevity, health care costs, market volatility.

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Speaker 8: They're real factors, But sometimes fear of the unknown leads

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Speaker 8: to missing out on meaningful experiences today.

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Speaker 11: And of course, we always remind listeners that investing involves risk,

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Speaker 11: including the potential loss of principle, so planning needs to

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Speaker 11: balance both growth and protection.

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Speaker 8: Exactly, this conversation isn't about spending recklessly, it's about balance,

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Speaker 8: making sure your financial plan supports both future security and

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Speaker 8: present enjoyment.

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Speaker 11: Because money ultimately exists to support your life, not the

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Speaker 11: other way around.

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Speaker 8: Yes, and interestingly, retirees sometimes struggle most with this. They've

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Speaker 8: spent decades saving and when retirement comes, switching from savings

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Speaker 8: mode mode to spending mode can feel uncomfortable.

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Speaker 7: We hear that a lot.

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Speaker 11: People will say, I know I have enough, but I

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Speaker 11: still feel nervous about spending.

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Speaker 8: That's where having a clear income plan helps. When you

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Speaker 8: understand how your assets translate into sustainable monthly income, confidence

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Speaker 8: usually increases.

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Speaker 11: And that confidence can make it easier to enjoy travel, hobbies,

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Speaker 11: of family time, whatever matters most to you.

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Speaker 8: Another factor is perspective. Experiences like travel, time with family,

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Speaker 8: health and wellness often provide lasting value that isn't reflected

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Speaker 8: on a balance sheet.

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Speaker 11: Absolutely, and interestingly, people rarely regret the thoughtful experiences they had.

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Speaker 11: More often they regret the things they postponed too long.

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Speaker 8: But on the flip side, there are certainly cases where

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Speaker 8: people undersave, So this isn't a one direction conversation. It's

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Speaker 8: about making sure saving levels match your goals right.

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Speaker 11: The key question is and should I save less? It

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Speaker 11: is my saving aligned with my life priorities?

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Speaker 8: And long term needs, and that's where planning comes in.

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Speaker 8: A good financial plan looks at cash flow, retirement per injections, taxes,

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Speaker 8: healthcare considerations, risk tolerance, all the moving parts.

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Speaker 11: Once those pieces are clear, becomes much easier to find

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Speaker 11: the balance between preparing for tomorrow and.

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Speaker 8: Enjoying today exactly. And sometimes just having permission backed by

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Speaker 8: numbers helps people feel comfortable spending intentionally.

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Speaker 11: So for our listeners, here are a few signs you

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Speaker 11: might be oversaving or underliving, Consistently delaying experiences you value,

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Speaker 11: feeling guilty about reasonable spending, or accumulating savings without a

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Speaker 11: clear future purpose.

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Speaker 8: And conversely, if you're not sure whether you're saving enough,

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Speaker 8: that's another great reason to review your plan.

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Speaker 11: As always, every financial situation is unique, and investing involves risk.

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Speaker 11: Decisions should be tailored to your financial timeline and comfort level.

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Speaker 8: But the takeaway is simple. Financial planning isn't just about accumulation.

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Speaker 8: It's about creating a life that feels both secure and fulfilling.

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Speaker 11: Well said, and hopefully both of us will be practicing

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Speaker 11: what we preach over the next week.

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Speaker 8: Absolutely, I'll report back on Japan and you report on Finland.

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Speaker 7: Deal.

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Speaker 8: All right, Greg, I'll see you soon.

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Speaker 3: To get in touch with Greg Murray or Mary, Madeline

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Speaker 3: Kelly or any member of the Kelly Financial team called

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Speaker 3: eight eight eight eight hundred, eighteen eighty one. Safe Money

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Speaker 3: Strategies with William Kelly and Kelly Kelly. Call the team

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Speaker 3: on eight eight eight hundred, eighteen eighty one.

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Speaker 4: Welcome back to Safe Money Strategies. I'm Kelly Kelly here

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Speaker 4: with my son, William Kelly Junior, and we're so glad

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Speaker 4: you're spending part of your weekend with us. Today we're

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Speaker 4: talking about something that reflects a much bigger shift happening

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Speaker 4: across the country and really around the world. Retirement is

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Speaker 4: being redefined. For decades, retirement followed a traditional pattern. You

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Speaker 4: worked for thirty or forty years and then you slow down.

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Speaker 4: That was the expectation. But today that model simply doesn't

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Speaker 4: fit everyone anymore. Research from the National Institute on Aging

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Speaker 4: shows that retirement satisfaction increases when older adults remain meaningfully engaged,

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Speaker 4: not necessarily working full time, but engaged, connected, purposeful, and

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Speaker 4: technology has completely changed what that engagement can look like.

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Speaker 4: High speed internet, video conferencing, cloud based software, secure digital tools.

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Speaker 4: Today you can work from almost anywhere in the world,

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Speaker 4: and we're seeing more adults over fifty and sixty choosing

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Speaker 4: not to fully disengage, but to redesign. There's even a

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Speaker 4: term for it now, the gray digital nomad. Retirement today

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Speaker 4: is less about withdrawal and more about intentional engagement.

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Speaker 2: And what's interesting, mom, is this isn't about a hustle

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Speaker 2: culture or working endlessly into your seventies.

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Speaker 7: It's really about autonomy.

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Speaker 2: A great digital nomad is typically someone over fifty or

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Speaker 2: sixty who works remotely, well traveling, or living somewhere new.

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Speaker 2: Sometimes that means consulting part time, sometimes freelance work. Sometimes

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Speaker 2: it's combining remote income with social security or portfolio withdrawals.

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Speaker 2: There's no single blueprint, only the one that fits your life.

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Speaker 2: Some retirees choose what's called slow travel, staying in one

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Speaker 2: country for several months instead of constantly moving. Others relocate

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Speaker 2: to places where the US dollar may stretch further. Countries

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Speaker 2: like Portugal, Spain, or Mexico are often mentioned because living

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Speaker 2: expenses can be lower than in many parts of the

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Speaker 2: United States, and when expenses are lower, pressure on long

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Speaker 2: term savings can decrease, and.

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Speaker 4: That's where this becomes interesting from a planning standpoint. Reports

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Speaker 4: are showing a sharp rise in digital nomads over fifty

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Speaker 4: and the reasons are consistent adventure, technology, financial considerations, and

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Speaker 4: redefining retirement itself.

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Speaker 5: Some people want to see.

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Speaker 4: The world while they're healthy enough to truly enjoy it.

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Speaker 5: Others want purpose.

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Speaker 4: Many retirees tell us they don't want twenty five or

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00:25:23,200 --> 00:25:29,040
Speaker 4: thirty years of complete idleness. They want meaningful activity without

443
00:25:29,080 --> 00:25:36,040
Speaker 4: the stress of a traditional career. Purpose doesn't retire, it evolves. But,

444
00:25:36,840 --> 00:25:42,880
Speaker 4: and this is important, becoming a digital nomad requires thoughtful preparation.

445
00:25:43,680 --> 00:25:47,280
Speaker 4: Freedom works best when it's researched exactly.

446
00:25:47,480 --> 00:25:51,840
Speaker 2: There are practical considerations. Visa requirements vary by country, healthcare

447
00:25:51,880 --> 00:25:55,760
Speaker 2: systems differ. Reliable internet becomes no negotiable if you're working remotely.

448
00:25:56,240 --> 00:25:59,920
Speaker 2: Cybersecurity matters, especially if you're accessing financial accounts over public

449
00:26:00,040 --> 00:26:02,800
Speaker 2: Wi Fi. Even something as simple as time zones can

450
00:26:02,800 --> 00:26:03,439
Speaker 2: affect how you.

451
00:26:03,520 --> 00:26:04,359
Speaker 5: Structure your work.

452
00:26:04,920 --> 00:26:05,919
Speaker 7: And if someone plans to.

453
00:26:05,920 --> 00:26:09,040
Speaker 2: Supplement retirement income with remote work, that decision needs to

454
00:26:09,040 --> 00:26:11,840
Speaker 2: be integrated thoughtfully into their overall financial picture.

455
00:26:12,160 --> 00:26:13,880
Speaker 5: And that's really the heart of this.

456
00:26:14,400 --> 00:26:18,640
Speaker 4: We're not talking about chasing a trend we're talking about

457
00:26:18,680 --> 00:26:25,480
Speaker 4: designing retirement with intention. Supplemental income can reduce pressure on savings,

458
00:26:25,800 --> 00:26:29,120
Speaker 4: but only if you understand how it fits into your

459
00:26:29,160 --> 00:26:34,120
Speaker 4: broader plan. Living abroad may stretch dollars, but only if

460
00:26:34,200 --> 00:26:41,639
Speaker 4: you've evaluated healthcare access, tax implications, and long term sustainability.

461
00:26:42,200 --> 00:26:48,000
Speaker 4: Adventure should energize you, not exhaust you. Health becomes even

462
00:26:48,040 --> 00:26:52,000
Speaker 4: more important when you're on the move. Sleep routines matter,

463
00:26:52,440 --> 00:26:59,199
Speaker 4: physical activity matters, social connection matters. Loneliness can quietly become

464
00:26:59,240 --> 00:27:04,200
Speaker 4: a risk if someone isolates instead of integrating into community.

465
00:27:04,520 --> 00:27:10,919
Speaker 4: Flexibility is appealing, but sustainability is essential, and this is

466
00:27:11,000 --> 00:27:17,400
Speaker 4: where financial clarity becomes foundational. At Kelly Financial Services, our

467
00:27:17,600 --> 00:27:22,680
Speaker 4: approach has always centered around education first. In my book

468
00:27:22,840 --> 00:27:27,280
Speaker 4: Retire Your Fear, Plan Your Future, I talk about defining

469
00:27:27,400 --> 00:27:32,240
Speaker 4: what retirement means to you before making major lifestyle shifts,

470
00:27:32,520 --> 00:27:36,920
Speaker 4: because freedom feels different when it's supported by clarity. If

471
00:27:36,920 --> 00:27:40,800
Speaker 4: someone wants to consult part time from Spain, or teach

472
00:27:40,840 --> 00:27:45,840
Speaker 4: online while splitting time between two states, or simply reduce

473
00:27:45,960 --> 00:27:49,280
Speaker 4: full time hours and work remotely from a different location,

474
00:27:49,960 --> 00:27:55,720
Speaker 4: those decisions should align with their income structure, tax considerations,

475
00:27:56,160 --> 00:28:01,480
Speaker 4: healthcare access, and long term goals. Retirement freedom does it

476
00:28:01,600 --> 00:28:06,320
Speaker 4: come from impulse. It comes from understanding your foundation.

477
00:28:07,480 --> 00:28:10,200
Speaker 2: And I think that's the biggest takeaway here. The great

478
00:28:10,200 --> 00:28:13,600
Speaker 2: Digital know my lifestyle isn't about escaping retirement, It's about

479
00:28:13,640 --> 00:28:16,400
Speaker 2: reshaping it. It's asking what can make these next twenty

480
00:28:16,440 --> 00:28:19,639
Speaker 2: to thirty years meaningful and then building the financial clarity

481
00:28:19,680 --> 00:28:20,639
Speaker 2: to support that answer.

482
00:28:21,040 --> 00:28:27,119
Speaker 4: Exactly Quinn, retirement is supported by understanding flexibility can feel

483
00:28:27,240 --> 00:28:32,119
Speaker 4: empowering instead of stressful. If you'd like a complimentary copy

484
00:28:32,160 --> 00:28:36,159
Speaker 4: of my book, Retire your Fear, Plan Your Future, you

485
00:28:36,200 --> 00:28:39,480
Speaker 4: can request it by calling eight eight eight eight hundred

486
00:28:39,520 --> 00:28:44,560
Speaker 4: and eighteen eighty one or visiting Kellyfinancial dot org. When

487
00:28:44,640 --> 00:28:49,680
Speaker 4: we return, we'll explore how to design this lifestyle intentionally

488
00:28:50,240 --> 00:28:56,600
Speaker 4: and sustainably, including how to structure remote income, create boundaries,

489
00:28:56,760 --> 00:29:00,560
Speaker 4: and protect your financial foundation. While you're on the move,

490
00:29:01,280 --> 00:29:02,120
Speaker 4: stay with us.

491
00:29:02,320 --> 00:29:03,480
Speaker 5: We'll be right back.

492
00:29:06,040 --> 00:29:10,160
Speaker 3: Safe money strategies brought to you by Kelly Financial Services.

493
00:29:10,360 --> 00:29:14,120
Speaker 3: Call eight at eight eight hundred eighteen eighty one or

494
00:29:14,200 --> 00:29:16,120
Speaker 3: visit Kellyfinancial dot org.

495
00:29:16,720 --> 00:29:20,680
Speaker 12: Ready to enjoy your golden years without worry. At Kelly Financial,

496
00:29:20,800 --> 00:29:24,120
Speaker 12: we know retirement planning can be overwhelming. With more than

497
00:29:24,160 --> 00:29:27,880
Speaker 12: twenty two years of experience. Our friendly team of advisors

498
00:29:27,960 --> 00:29:31,120
Speaker 12: makes it easy and stress free. Trust us to help

499
00:29:31,160 --> 00:29:34,680
Speaker 12: you create a secure and enjoyable future. For a free

500
00:29:34,720 --> 00:29:39,000
Speaker 12: initial retirement consultation called eight eight eight eight hundred eighteen

501
00:29:39,040 --> 00:29:42,800
Speaker 12: eighty one or email Kelly at Kelly Financial dot org.

502
00:29:43,000 --> 00:29:45,400
Speaker 12: We're Kelly Financial. Come retire with.

503
00:29:45,360 --> 00:29:50,320
Speaker 3: Us Safe Money Strategies with William Kelly and Kelly Kelly.

504
00:29:50,560 --> 00:29:54,000
Speaker 3: Call the team on at at eight eight hundred eighteen

505
00:29:54,200 --> 00:30:00,280
Speaker 3: eighty one.

506
00:30:01,320 --> 00:30:05,920
Speaker 4: Welcome back to Safe Money Strategies. I'm Kelly Kelly here

507
00:30:05,960 --> 00:30:10,360
Speaker 4: with my son, William Kelly Junior. In our last segment,

508
00:30:10,600 --> 00:30:15,000
Speaker 4: we talked about how retirement is being redefined and how

509
00:30:15,120 --> 00:30:20,920
Speaker 4: more adults over fifty and sixty are choosing flexibility instead

510
00:30:20,960 --> 00:30:22,560
Speaker 4: of full disengagement.

511
00:30:23,000 --> 00:30:25,480
Speaker 5: We introduce the idea of the gray.

512
00:30:25,320 --> 00:30:30,360
Speaker 4: Digital nomad, retirees who combine travel with remote work in

513
00:30:30,400 --> 00:30:34,800
Speaker 4: a way that feels purposeful and intentional. Now we want

514
00:30:34,880 --> 00:30:39,920
Speaker 4: to talk about how to design that lifestyle thoughtfully and sustainably,

515
00:30:40,480 --> 00:30:45,760
Speaker 4: because becoming a gray digital nomad isn't about impulse travel.

516
00:30:46,200 --> 00:30:50,520
Speaker 4: It's about building a system that supports freedom and that

517
00:30:50,640 --> 00:30:56,960
Speaker 4: begins with clarity before anyone changes their address, especially internationally,

518
00:30:57,400 --> 00:31:02,720
Speaker 4: there needs to be a financial and lifestyle assessment. What

519
00:31:02,760 --> 00:31:07,520
Speaker 4: are your assets, what are your income sources, what are

520
00:31:07,560 --> 00:31:13,080
Speaker 4: your fixed expenses? And what does sustainable travel actually cost?

521
00:31:13,840 --> 00:31:18,080
Speaker 4: There are cost of living comparison tools available today that

522
00:31:18,200 --> 00:31:23,920
Speaker 4: allow retires to evaluate expenses country by country, But beyond

523
00:31:23,960 --> 00:31:29,200
Speaker 4: those numbers, there's a deeper question. Is remote income supplemental

524
00:31:29,520 --> 00:31:30,920
Speaker 4: or is it foundational?

525
00:31:31,680 --> 00:31:33,320
Speaker 5: That distinction matters.

526
00:31:33,640 --> 00:31:38,280
Speaker 4: If remote work is simply enhancing flexibility, that's one structure.

527
00:31:38,840 --> 00:31:44,200
Speaker 4: If it's covering essential expenses, that's a different level of reliance,

528
00:31:44,600 --> 00:31:46,880
Speaker 4: and it requires careful evaluation.

529
00:31:47,560 --> 00:31:50,280
Speaker 5: Intention prevents regret.

530
00:31:50,360 --> 00:31:53,120
Speaker 2: And once that financial foundation is clear, the next step

531
00:31:53,120 --> 00:31:58,480
Speaker 2: becomes practical, identifying realistic remote income options. What advantage retirees

532
00:31:58,520 --> 00:32:05,400
Speaker 2: have is experience consulting, teaching, writing, bookkeeping, coaching, project.

533
00:32:04,960 --> 00:32:06,040
Speaker 7: Based advisory work.

534
00:32:06,280 --> 00:32:09,400
Speaker 2: Many of these roles translate well into digital platforms, and

535
00:32:09,480 --> 00:32:13,560
Speaker 2: today there are online Marketplace is specifically designed for remote opportunities.

536
00:32:13,680 --> 00:32:17,360
Speaker 2: But building a remote work portfolio doesn't happen automatically. It

537
00:32:17,400 --> 00:32:21,120
Speaker 2: may involve refreshing skills, updating a LinkedIn profile, creating a

538
00:32:21,120 --> 00:32:25,600
Speaker 2: simple online presence that reflects credibility, even exploring continuing education

539
00:32:25,720 --> 00:32:30,120
Speaker 2: to remain competitive in a changing marketplace. Experience becomes portable

540
00:32:30,160 --> 00:32:33,280
Speaker 2: when skills go digital, and for many retirees, the goal

541
00:32:33,360 --> 00:32:37,840
Speaker 2: isn't maximizing income, it's preserving flexibility while staying engaged. And

542
00:32:37,840 --> 00:32:44,120
Speaker 2: that's where structure becomes essential. Because working without boundaries.

543
00:32:43,720 --> 00:32:48,760
Speaker 4: Remote work can quietly expand beyond what was intended. If

544
00:32:48,760 --> 00:32:53,959
Speaker 4: someone enters retirement seeking freedom but ends up rebuilding a

545
00:32:54,000 --> 00:32:58,640
Speaker 4: full time workload from a different location, the lifestyle can

546
00:32:58,720 --> 00:33:04,920
Speaker 4: lose its balance. Guardrails create freedom, define working hours even

547
00:33:04,960 --> 00:33:08,440
Speaker 4: if you're in a different time zone. Limit client loads

548
00:33:08,440 --> 00:33:13,760
Speaker 4: so work remains manageable. Build rest days into travel schedules.

549
00:33:14,400 --> 00:33:19,880
Speaker 4: Separate travel mode from work mode. Retirement identity should not

550
00:33:20,080 --> 00:33:24,640
Speaker 4: disappear into work. The purpose of this lifestyle is autonomy,

551
00:33:25,120 --> 00:33:29,440
Speaker 4: not recreating career pressure in a new environment.

552
00:33:29,240 --> 00:33:31,240
Speaker 7: And technology becomes part of your lifeline.

553
00:33:31,240 --> 00:33:34,360
Speaker 2: In this model, reliable high speed internet is an optional,

554
00:33:34,440 --> 00:33:38,040
Speaker 2: it's foundational. Before committing to a destination, retirees need to

555
00:33:38,040 --> 00:33:39,200
Speaker 2: evaluate connectivity.

556
00:33:39,680 --> 00:33:40,880
Speaker 7: Secure networks matter.

557
00:33:41,160 --> 00:33:44,440
Speaker 2: Virtual private networks for VPNs can help protect sensity data

558
00:33:44,480 --> 00:33:48,040
Speaker 2: when accessing financial accounts or communicating with clients. Cloud based

559
00:33:48,040 --> 00:33:52,840
Speaker 2: backups protect important documents updated software protect devices. Your office

560
00:33:52,880 --> 00:33:55,040
Speaker 2: may fit into a backpack, but it still needs protection,

561
00:33:55,600 --> 00:33:59,400
Speaker 2: and banking systems need to support international access. That includes

562
00:33:59,480 --> 00:34:04,560
Speaker 2: understanding how currency exchange, foreign transaction fees, and international withdrawals function.

563
00:34:04,960 --> 00:34:07,200
Speaker 7: Digital preparedness supports confidence.

564
00:34:07,760 --> 00:34:13,040
Speaker 4: And then there's healthcare, which is often the most underestimated factor.

565
00:34:13,560 --> 00:34:20,319
Speaker 4: Before relocating, retirees should research local health care systems, insurance options,

566
00:34:20,640 --> 00:34:27,279
Speaker 4: in medication availability, International health insurance policies vary widely. Some

567
00:34:27,480 --> 00:34:33,840
Speaker 4: countries have excellent care systems, others require more navigation. Emergency

568
00:34:33,960 --> 00:34:39,360
Speaker 4: access should be clearly understood, and tax implications must also

569
00:34:39,440 --> 00:34:45,799
Speaker 4: be evaluated carefully. Living abroad may create reporting obligations or

570
00:34:45,840 --> 00:34:53,799
Speaker 4: residency considerations. Slow travel often reduces administrative complexity. Staying in

571
00:34:53,920 --> 00:35:00,879
Speaker 4: one location longer allows for better understanding of healthcare providers, services,

572
00:35:01,000 --> 00:35:06,439
Speaker 4: and community integration. Adventure is better when your safety net

573
00:35:06,520 --> 00:35:11,680
Speaker 4: travels with you, because no matter how flexible retirement becomes,

574
00:35:12,000 --> 00:35:16,320
Speaker 4: stability still matters, and this brings us back to education.

575
00:35:17,120 --> 00:35:20,920
Speaker 4: In my book, Retire Your Fear, Plan Your Future, I

576
00:35:21,120 --> 00:35:28,360
Speaker 4: emphasize defining retirement goals before making structural changes. Lifestyle shifts

577
00:35:28,400 --> 00:35:34,000
Speaker 4: should align with financial understanding, not replace it. Working remotely

578
00:35:34,120 --> 00:35:39,200
Speaker 4: in retirement should feel empowering, not reactive. If someone is

579
00:35:39,320 --> 00:35:43,320
Speaker 4: choosing this path because they are inspired by the possibility,

580
00:35:43,800 --> 00:35:48,960
Speaker 4: that's very different than feeling financially pressured into it. At

581
00:35:49,040 --> 00:35:54,600
Speaker 4: Kelly Financial Services, we help clients evaluate how part time income,

582
00:35:55,200 --> 00:36:00,280
Speaker 4: travel or international living may interact with their overall plan

583
00:36:00,880 --> 00:36:07,960
Speaker 4: that includes understanding cash flow, investment structure, healthcare considerations, and

584
00:36:08,200 --> 00:36:14,560
Speaker 4: long term sustainability. Retirement freedom begins with informed decisions.

585
00:36:15,360 --> 00:36:17,600
Speaker 2: And what stands out to me is that this lifestyle

586
00:36:17,640 --> 00:36:19,960
Speaker 2: isn't about movement for the sake of movement. It's about

587
00:36:19,960 --> 00:36:24,120
Speaker 2: flexibility supported by foundation. Design your retirement before you redesign

588
00:36:24,160 --> 00:36:27,680
Speaker 2: your address. That phrase really captures it, because when someone

589
00:36:27,800 --> 00:36:31,480
Speaker 2: understands their financial base, travel becomes a choice, not an escape.

590
00:36:31,600 --> 00:36:35,160
Speaker 2: In some cases, remote income becomes optional, not essential, and

591
00:36:35,239 --> 00:36:37,200
Speaker 2: flexibility becomes sustainable.

592
00:36:37,600 --> 00:36:42,080
Speaker 4: Exactly when clarity comes first, confidence follows.

593
00:36:42,600 --> 00:36:43,360
Speaker 5: And for those.

594
00:36:43,239 --> 00:36:49,280
Speaker 4: Listening who are intrigued by this concept, whether it's international travel,

595
00:36:49,560 --> 00:36:54,560
Speaker 4: part time consulting, or simply redefining what retirement looks like,

596
00:36:55,120 --> 00:36:59,080
Speaker 4: start with education. If you'd like a complementary copy of

597
00:36:59,120 --> 00:37:03,120
Speaker 4: my book, Retire Your Fear, Plan Your Future, you can

598
00:37:03,200 --> 00:37:06,760
Speaker 4: request it by calling eight eight eight eight hundred eighteen

599
00:37:06,840 --> 00:37:12,239
Speaker 4: eighty one or visiting Kellyfinancial dot Org. Is designed to

600
00:37:12,360 --> 00:37:16,360
Speaker 4: help you think through your vision before making major changes.

601
00:37:16,920 --> 00:37:23,000
Speaker 4: Retirement today offers more flexibility than ever before, but flexibility

602
00:37:23,239 --> 00:37:28,240
Speaker 4: works best when is grounded in understanding. We'll continue bringing

603
00:37:28,280 --> 00:37:33,480
Speaker 4: you informative content designed to help you navigate today's evolving

604
00:37:33,600 --> 00:37:37,560
Speaker 4: retirement landscape with confidence and clarity.

605
00:37:38,120 --> 00:37:40,880
Speaker 5: Thank you for spending part of your weekend with us.

606
00:37:41,080 --> 00:37:47,400
Speaker 4: We'll see you next week right here on Safe money Strategies.

607
00:37:48,280 --> 00:37:52,399
Speaker 3: Safe money Strategies brought to you by Kelly Financial Services.

608
00:37:52,600 --> 00:37:56,360
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

609
00:37:56,440 --> 00:37:58,359
Speaker 3: visit Kellyfinancial dot Org.

610
00:38:00,080 --> 00:38:01,240
Speaker 7: Back to Safe Money Strategies.

611
00:38:01,239 --> 00:38:04,600
Speaker 10: I'm Mike dust, chief operating Officer here with Greg Workman,

612
00:38:04,800 --> 00:38:08,439
Speaker 10: investment Advisor. Before the break, we introduced what we call

613
00:38:08,520 --> 00:38:12,480
Speaker 10: the widow's penalty or tax bracket compression, and how a

614
00:38:12,520 --> 00:38:15,920
Speaker 10: surviving spouse can end up paying higher taxes even though

615
00:38:15,960 --> 00:38:19,360
Speaker 10: their household income has gone down. We use a hypothetical couple,

616
00:38:19,520 --> 00:38:22,560
Speaker 10: John and Linda to show how this plays out. Now,

617
00:38:22,600 --> 00:38:26,200
Speaker 10: the important part this is manageable. Greg, Let's talk about

618
00:38:26,200 --> 00:38:26,960
Speaker 10: the solutions.

619
00:38:27,080 --> 00:38:32,000
Speaker 6: The first and often most powerful tool is wroth conversions.

620
00:38:32,320 --> 00:38:36,000
Speaker 6: If John and Linda retire at sixty five and delay

621
00:38:36,239 --> 00:38:39,799
Speaker 6: r and ds until age seventy three, that eight year

622
00:38:39,880 --> 00:38:43,239
Speaker 6: window may be the lowest tax bracket window of their

623
00:38:43,560 --> 00:38:47,480
Speaker 6: entire retirement. Instead of waiting for the irs to dictate

624
00:38:47,560 --> 00:38:51,719
Speaker 6: with Charles later, they can intentionally move portions of the

625
00:38:51,800 --> 00:38:57,560
Speaker 6: traditional IRA into a WROTH IRA while filing jointly filling

626
00:38:57,600 --> 00:39:01,840
Speaker 6: up lower tax brackets with intent. That does three things.

627
00:39:02,239 --> 00:39:06,560
Speaker 6: It reduces future r and ds or required minimum distributions,

628
00:39:07,080 --> 00:39:11,319
Speaker 6: It lowers future taxable income for the surviving spouse, and

629
00:39:11,400 --> 00:39:15,480
Speaker 6: it creates tax free income flexibility to use later on

630
00:39:15,560 --> 00:39:16,520
Speaker 6: in the planning cycle.

631
00:39:16,719 --> 00:39:20,719
Speaker 10: And flexibility is everything, because once one spouse passes, the

632
00:39:20,760 --> 00:39:24,960
Speaker 10: surviving spouse cannot unconvert money. You either did the bracket

633
00:39:24,960 --> 00:39:28,279
Speaker 10: management early or you didn't. Let's talk pensions, because this

634
00:39:28,320 --> 00:39:32,400
Speaker 10: is another major lever. Many retirees must choose between a

635
00:39:32,480 --> 00:39:36,520
Speaker 10: single life payout higher income while both alive or joint

636
00:39:36,680 --> 00:39:40,320
Speaker 10: and survivor payout lower income but continues for spouse.

637
00:39:40,760 --> 00:39:42,839
Speaker 7: Great. What's the mistake people make here?

638
00:39:43,000 --> 00:39:46,560
Speaker 6: They focus only on maximizing income today. But if a

639
00:39:46,680 --> 00:39:50,439
Speaker 6: single life option is chosen and the pension disappears at

640
00:39:50,480 --> 00:39:54,920
Speaker 6: first death, the surviving spouse may lose a major income

641
00:39:55,000 --> 00:39:59,120
Speaker 6: stream while r and ds and fixed expenses were made

642
00:39:59,440 --> 00:40:03,120
Speaker 6: that force. This is larger i RA withdrawals, which increases

643
00:40:03,160 --> 00:40:08,280
Speaker 6: taxable income, which accelerates bracket compression. The right pension election

644
00:40:08,600 --> 00:40:13,160
Speaker 6: isn't just about income, It's about tax sustainability for the

645
00:40:13,239 --> 00:40:14,280
Speaker 6: surviving spouse.

646
00:40:14,680 --> 00:40:17,520
Speaker 10: Now let's bring in social security because this decision also

647
00:40:17,600 --> 00:40:19,240
Speaker 10: plays into survivor protection.

648
00:40:19,560 --> 00:40:24,400
Speaker 6: Exactly when mound spouse passes away, the surviving spouse keeps

649
00:40:24,640 --> 00:40:27,800
Speaker 6: the higher of the two benefits. So if the higher

650
00:40:27,840 --> 00:40:32,640
Speaker 6: earning spouse delays claiming social Security until age seventy, that

651
00:40:32,800 --> 00:40:38,480
Speaker 6: permanently increases the Social Security survivor benefit. That decision alone

652
00:40:38,800 --> 00:40:43,560
Speaker 6: can add hundreds of thousands of dollars in lifetime income protection.

653
00:40:44,080 --> 00:40:48,120
Speaker 6: But again it has to be coordinated with good tax planning.

654
00:40:48,600 --> 00:40:52,759
Speaker 6: If we delay social Security while intentionally doing roth conversions

655
00:40:52,760 --> 00:40:57,160
Speaker 6: and lower tax brackets, we are reshaping the tax profile

656
00:40:57,200 --> 00:41:00,600
Speaker 6: of the household before tax compression ever hits.

657
00:41:00,880 --> 00:41:03,879
Speaker 10: We often talk about smoothing income, what does that mean

658
00:41:03,920 --> 00:41:04,960
Speaker 10: in practical terms?

659
00:41:05,160 --> 00:41:08,120
Speaker 6: Instead of allowing income to spike at age seventy three

660
00:41:08,440 --> 00:41:12,840
Speaker 6: when required minimum distributions kick in, we level it out earlier.

661
00:41:13,160 --> 00:41:14,000
Speaker 7: Think of it like this.

662
00:41:14,520 --> 00:41:16,920
Speaker 6: If we know R and DS are going to force,

663
00:41:17,239 --> 00:41:20,880
Speaker 6: say sixty thousand per year out of an IRA later,

664
00:41:21,360 --> 00:41:25,839
Speaker 6: why not start pulling thirty or forty thousand intentionally in

665
00:41:25,960 --> 00:41:29,520
Speaker 6: years when tax brackets are lower. Pay some tax on

666
00:41:29,600 --> 00:41:34,200
Speaker 6: purpose now to avoid paying much more later, especially when

667
00:41:34,239 --> 00:41:38,200
Speaker 6: filing single. This is long term bracket engineering.

668
00:41:38,400 --> 00:41:44,200
Speaker 10: Most retirees think diversification only applies to investments, stocks, bonds, cash,

669
00:41:44,440 --> 00:41:47,640
Speaker 10: but we believe in tax diversification exactly.

670
00:41:48,000 --> 00:41:52,719
Speaker 6: Ideally, retirees have money in three buckets, tax deferred accounts

671
00:41:52,960 --> 00:41:56,680
Speaker 6: like pre tax or traditional iras, four to one case,

672
00:41:57,080 --> 00:42:02,120
Speaker 6: tax free accounts such as roth iras, and taxable brokewards accounts.

673
00:42:02,400 --> 00:42:06,040
Speaker 6: When one spouse passes away, their surviving spouse can choose

674
00:42:06,480 --> 00:42:11,440
Speaker 6: which bucket to pull from to control taxable income. Without

675
00:42:11,440 --> 00:42:17,720
Speaker 6: that flexibility, every withdrawal becomes a taxable event. Tax diversification

676
00:42:17,960 --> 00:42:22,040
Speaker 6: creates control, control, reduces bracket shock.

677
00:42:22,400 --> 00:42:26,080
Speaker 10: Let's walk through another hypothetical scenario. We'll call this couple

678
00:42:26,160 --> 00:42:29,359
Speaker 10: Mark and Susan, both age sixty six. They have one

679
00:42:29,360 --> 00:42:34,000
Speaker 10: point two million in traditional arrays, modest taxable savings, no

680
00:42:34,080 --> 00:42:37,600
Speaker 10: WROTH accounts combined income of one hundred and twenty five thousand.

681
00:42:37,880 --> 00:42:41,040
Speaker 10: They assume taxes will go down later because one income

682
00:42:41,080 --> 00:42:41,760
Speaker 10: will disappear.

683
00:42:41,840 --> 00:42:44,959
Speaker 6: But here's what their projection shows. At age seventy three,

684
00:42:45,000 --> 00:42:48,520
Speaker 6: their rm ds alone could exceed seventy thousand dollars annually,

685
00:42:48,880 --> 00:42:52,799
Speaker 6: not including social Security. When Mark passes at age eighty two,

686
00:42:53,320 --> 00:42:57,080
Speaker 6: Susan is filing single, still taking her rm ds, still

687
00:42:57,120 --> 00:43:01,280
Speaker 6: receiving Social Security, but now she's firmly in a higher

688
00:43:01,320 --> 00:43:04,280
Speaker 6: tax bracket than what they were when they were married.

689
00:43:04,560 --> 00:43:09,200
Speaker 6: If nothing is done, she also faces higher Medicare premiums

690
00:43:09,440 --> 00:43:13,319
Speaker 6: because of income thresholds. But if they begin partial roth

691
00:43:13,400 --> 00:43:17,960
Speaker 6: conversions at age sixty seven and continue for six years,

692
00:43:18,280 --> 00:43:24,000
Speaker 6: they reduce their IRA balance significantly before URMDH. The result

693
00:43:24,600 --> 00:43:31,600
Speaker 6: multiple benefits lower forced distributions, lower taxable income later, more

694
00:43:31,760 --> 00:43:37,200
Speaker 6: tax free income flexibility for Susan, and reduced Medicare surcharge exposure.

695
00:43:37,719 --> 00:43:40,160
Speaker 6: That is what proactive planning looks like.

696
00:43:40,560 --> 00:43:44,080
Speaker 10: This is where tax planning and estate planning intersect. If

697
00:43:44,160 --> 00:43:47,840
Speaker 10: most assets remain in tax deferred accounts at second death,

698
00:43:48,280 --> 00:43:53,200
Speaker 10: children may inherit large iras subject to accelerated distribution rules.

699
00:43:53,640 --> 00:43:58,480
Speaker 10: Under current law, many non spouse beneficiaries must distribute inherited

700
00:43:58,480 --> 00:44:02,239
Speaker 10: iras within ten years. That can push adult children into

701
00:44:02,320 --> 00:44:05,560
Speaker 10: higher tax brackets during their peak earning years. So bracket

702
00:44:05,560 --> 00:44:09,360
Speaker 10: compression doesn't just affect the surviving spouse. It can cascade

703
00:44:09,400 --> 00:44:12,640
Speaker 10: into the next generation. When we coordinate tax strategy with

704
00:44:12,680 --> 00:44:16,200
Speaker 10: the state planning, we are safeguarding your family's future, not

705
00:44:16,320 --> 00:44:18,960
Speaker 10: just an individual's. Greg If you had to summarize this

706
00:44:19,120 --> 00:44:23,240
Speaker 10: entire conversation into one planning principle, what would it be plan.

707
00:44:23,160 --> 00:44:26,440
Speaker 6: For the second life while both spouses are still here.

708
00:44:26,840 --> 00:44:32,560
Speaker 6: Because when one spouse passes, flexibility decreases dramatically. The time

709
00:44:32,600 --> 00:44:35,680
Speaker 6: to manage taxes is when you have the widest tax

710
00:44:35,760 --> 00:44:40,279
Speaker 6: brackets available, married filing jointly pre R and D, and

711
00:44:40,440 --> 00:44:42,200
Speaker 6: lower lifetime income years.

712
00:44:42,320 --> 00:44:46,239
Speaker 10: Retirement planning isn't just about building wealth. It's about strategies

713
00:44:46,320 --> 00:44:49,080
Speaker 10: for preserving it. It's about reducing uncertainty.

714
00:44:49,239 --> 00:44:51,880
Speaker 6: It's about making sure that if one spouse has to

715
00:44:52,000 --> 00:44:56,120
Speaker 6: navigate life alone, the financial structure is steady and predictable.

716
00:44:56,360 --> 00:45:00,520
Speaker 6: The widow's penalty is real. Bracket compression is re but

717
00:45:00,760 --> 00:45:02,319
Speaker 6: so are the solutions.

718
00:45:02,480 --> 00:45:04,719
Speaker 10: If you'd like to see whether your current retirement plan

719
00:45:04,800 --> 00:45:08,600
Speaker 10: exposes your spouse to unnecessary tax shock. We encourage you

720
00:45:08,640 --> 00:45:11,640
Speaker 10: to request a copy of our Safe Money Strategies workbook.

721
00:45:12,040 --> 00:45:16,880
Speaker 10: Inside we walk through tax bracket mapping, income sequencing, pension

722
00:45:17,040 --> 00:45:21,440
Speaker 10: election analysis, social security coordination, as state alignment.

723
00:45:21,600 --> 00:45:26,960
Speaker 6: There's no cost, no obligation, just education, because the more

724
00:45:27,000 --> 00:45:30,960
Speaker 6: clarity that you have today, the less stressed you will

725
00:45:31,000 --> 00:45:34,000
Speaker 6: face tomorrow. With that, I'm Greg Workman and.

726
00:45:33,960 --> 00:45:35,920
Speaker 10: I'm Mike du said, thank you for joining us on

727
00:45:35,960 --> 00:45:36,960
Speaker 10: Safe Money Strategies.

728
00:45:37,160 --> 00:45:38,200
Speaker 7: We'll see you next week.

729
00:45:43,239 --> 00:45:46,040
Speaker 2: I'm William Kelly Junior, and many families are thinking about

730
00:45:46,080 --> 00:45:49,400
Speaker 2: fresh starts, not just financially, but how young people prepare

731
00:45:49,480 --> 00:45:52,960
Speaker 2: for what comes next. I've had the unique experience of

732
00:45:52,960 --> 00:45:56,680
Speaker 2: growing up around real conversations with our clients, families, parents

733
00:45:56,840 --> 00:46:00,800
Speaker 2: and grandparents about money, responsibility and low long term thinking.

734
00:46:01,040 --> 00:46:03,960
Speaker 2: Not theory, real life, and it's important to remember that

735
00:46:04,040 --> 00:46:07,360
Speaker 2: all investing involves risk, including the potential loss of principle,

736
00:46:07,640 --> 00:46:11,359
Speaker 2: which is why habits, education, and perspective matter so much

737
00:46:11,400 --> 00:46:13,879
Speaker 2: from the start. That's why I wrote Only the Good

738
00:46:13,880 --> 00:46:17,160
Speaker 2: Investor on It's a straightforward guide to the basics of money,

739
00:46:17,239 --> 00:46:20,880
Speaker 2: habits and decisions. That matter over time, whether you're a client,

740
00:46:20,920 --> 00:46:23,759
Speaker 2: a parent or grandparent, or someone just starting out. This

741
00:46:23,840 --> 00:46:27,320
Speaker 2: is meant to be practical, clear, and encouraging. For offering

742
00:46:27,320 --> 00:46:31,439
Speaker 2: complimentary signed copies to our WRKL listeners and clients. It's

743
00:46:31,480 --> 00:46:35,160
Speaker 2: also available on Amazon in softcover or kindle. Call eight

744
00:46:35,200 --> 00:46:37,759
Speaker 2: at eight eight hundred and one or email Kelly at

745
00:46:37,800 --> 00:46:41,000
Speaker 2: Kelly financial dot org. Good habits start early and they

746
00:46:41,080 --> 00:46:42,040
Speaker 2: last a lifetime.

747
00:46:42,680 --> 00:46:47,040
Speaker 9: Joining us now as she always does at this time,

748
00:46:47,560 --> 00:46:52,320
Speaker 9: she is the co founder, CEO, and president of Kelly

749
00:46:52,400 --> 00:46:57,240
Speaker 9: Financial Services, and yes, that is her wonderful name.

750
00:46:57,840 --> 00:47:02,759
Speaker 6: Kelly, Kelly, Kelly, how are you?

751
00:47:03,239 --> 00:47:05,680
Speaker 5: Good morning, Jeff, I am good.

752
00:47:06,320 --> 00:47:10,800
Speaker 4: You know we've been talking about something really interesting right now.

753
00:47:11,000 --> 00:47:15,040
Speaker 4: Most retirees are choosing to stay active in different ways.

754
00:47:15,480 --> 00:47:20,359
Speaker 4: Some are consulting part time, some are working remotely, and

755
00:47:20,480 --> 00:47:24,120
Speaker 4: some are even spending part of the year somewhere new

756
00:47:24,239 --> 00:47:28,880
Speaker 4: while generating income digitally. And that can be exciting, but

757
00:47:28,960 --> 00:47:33,560
Speaker 4: it works best when you truly understand your overall financial picture,

758
00:47:33,840 --> 00:47:38,200
Speaker 4: where your income is coming from, how your plan is structured,

759
00:47:38,600 --> 00:47:43,360
Speaker 4: and how much flexibility you actually have. When those pieces

760
00:47:43,440 --> 00:47:49,120
Speaker 4: are clear, lifestyle choices tend to feel empowering. Instead of stressful.

761
00:47:49,360 --> 00:47:53,320
Speaker 4: And that's exactly why I wrote my book, Retire Your Fear,

762
00:47:53,400 --> 00:47:57,799
Speaker 4: Plan Your Future. It's designed to help you better understand

763
00:47:57,840 --> 00:48:03,040
Speaker 4: your income sources, find your goals, and make thoughtful decisions

764
00:48:03,120 --> 00:48:05,880
Speaker 4: before making big lifestyle changes.

765
00:48:06,239 --> 00:48:07,080
Speaker 5: If you'd like a.

766
00:48:06,960 --> 00:48:11,560
Speaker 4: Complimentary copy, you can call us or email Kelly at

767
00:48:11,680 --> 00:48:16,960
Speaker 4: Kellyfinancial dot org. Jeff, have a wonderful weekend. My best

768
00:48:16,960 --> 00:48:18,440
Speaker 4: of Grace and the kiddos.

769
00:48:18,800 --> 00:48:21,640
Speaker 9: Thank you, Kelly, all the best to you and everyone

770
00:48:21,680 --> 00:48:25,360
Speaker 9: at Kelly Financial to get a free copy of that guide,

771
00:48:25,360 --> 00:48:27,120
Speaker 9: and I urge all of you if you can do

772
00:48:27,239 --> 00:48:31,200
Speaker 9: get it call now eight eight eight eight hundred eighteen

773
00:48:31,320 --> 00:48:34,919
Speaker 9: eighty one eight eighty eight eight hundred eighteen eighty one,

774
00:48:35,600 --> 00:48:40,279
Speaker 9: or you can actually email Kelly herself personally Kelly at

775
00:48:40,440 --> 00:48:46,319
Speaker 9: Kellyfinancial dot org. That's Kelly Kelly Financial dot org.

776
00:48:51,960 --> 00:48:57,359
Speaker 3: Safe Money Strategies at eight eight hundred one, eight eight one.

777
00:48:58,080 --> 00:49:01,360
Speaker 4: This next reflection from Bill takes us back to the

778
00:49:01,400 --> 00:49:05,760
Speaker 4: basics what a stock really is, how the market truly works,

779
00:49:06,080 --> 00:49:08,560
Speaker 4: and why understanding value.

780
00:49:08,360 --> 00:49:09,680
Speaker 5: Matters more than emotion.

781
00:49:10,960 --> 00:49:15,000
Speaker 4: He reminds us that markets are driven by human behavior,

782
00:49:15,440 --> 00:49:20,040
Speaker 4: not heroics, and that clarity can help steady your thinking

783
00:49:20,239 --> 00:49:21,600
Speaker 4: when prices moved.

784
00:49:22,360 --> 00:49:23,600
Speaker 5: Here's Bill Kelly.

785
00:49:24,880 --> 00:49:27,200
Speaker 13: Maybe we should start out with the basics this week,

786
00:49:27,280 --> 00:49:30,520
Speaker 13: ladies and gentlemen. What is the basis of most retirements?

787
00:49:30,960 --> 00:49:36,560
Speaker 13: The basis of the investments within most retirements nowadays when

788
00:49:36,600 --> 00:49:41,680
Speaker 13: they are self directed iras four one k's are securities stocks.

789
00:49:42,280 --> 00:49:45,160
Speaker 13: So why don't we begin with the definition of a stock.

790
00:49:45,200 --> 00:49:48,080
Speaker 13: It's a share in the company. It's an equity share,

791
00:49:48,400 --> 00:49:51,920
Speaker 13: and for that risk, you are given a reward. In

792
00:49:51,960 --> 00:49:54,760
Speaker 13: other words, if you buy a share in the company,

793
00:49:55,080 --> 00:49:59,719
Speaker 13: you are going to share in the success unfortunately also

794
00:49:59,840 --> 00:50:02,520
Speaker 13: of the failure of that company. And you do so

795
00:50:02,760 --> 00:50:06,080
Speaker 13: without having to work. You simply invest, So it's sort

796
00:50:06,080 --> 00:50:09,040
Speaker 13: of a unilateral contract. You buy the stock, they do

797
00:50:09,120 --> 00:50:11,839
Speaker 13: the work. You don't have to perform. All you have

798
00:50:11,880 --> 00:50:14,799
Speaker 13: to do is pay the money, own the stock, and

799
00:50:14,920 --> 00:50:17,879
Speaker 13: share in the proceeds. And you want to do that wisely. Now,

800
00:50:17,920 --> 00:50:21,600
Speaker 13: what is a share of common stock worth? Generally it's

801
00:50:21,600 --> 00:50:25,600
Speaker 13: worth one vote, and it's worth a percentage or a

802
00:50:25,719 --> 00:50:29,600
Speaker 13: pro rata average of what the company is worth. So,

803
00:50:29,680 --> 00:50:33,440
Speaker 13: as companies want to expand, sometimes they offer more stock.

804
00:50:33,920 --> 00:50:37,799
Speaker 13: So when you hear about a new offering, somebody might say, well,

805
00:50:37,840 --> 00:50:41,360
Speaker 13: we really think the company's worth two hundred thousand dollars more,

806
00:50:41,760 --> 00:50:44,960
Speaker 13: we're going to sell one hundred thousand more shares, and

807
00:50:45,440 --> 00:50:47,800
Speaker 13: it's going to dilute the people that already own stock,

808
00:50:48,200 --> 00:50:50,719
Speaker 13: But eventually it's going to bring everyone up because we're

809
00:50:50,719 --> 00:50:52,640
Speaker 13: going to take the new money and we're going to

810
00:50:52,640 --> 00:50:55,080
Speaker 13: make things a lot nicer in the company, going to

811
00:50:55,120 --> 00:50:57,719
Speaker 13: do some more product development, we're going to do some

812
00:50:57,840 --> 00:51:02,200
Speaker 13: more advertising, more market we're going to do some research.

813
00:51:02,920 --> 00:51:06,760
Speaker 13: So that's what stock is. It's a share in the company,

814
00:51:06,800 --> 00:51:10,400
Speaker 13: and generally we look at earnings of the company to

815
00:51:10,480 --> 00:51:12,879
Speaker 13: give us a gauge and what the stock might be worth.

816
00:51:13,239 --> 00:51:15,640
Speaker 13: So if our stock is one hundred dollars a share

817
00:51:16,080 --> 00:51:18,799
Speaker 13: and the earnings of the company, when divided up by

818
00:51:18,800 --> 00:51:22,200
Speaker 13: the number of shares, are twenty dollars a share, then

819
00:51:22,239 --> 00:51:25,759
Speaker 13: the pe ratio is five, and that's fairly low for

820
00:51:26,040 --> 00:51:30,479
Speaker 13: a technology company or a manufacturing company, or let's say

821
00:51:30,719 --> 00:51:34,000
Speaker 13: somebody like Procter and Gamble places like that. That's a

822
00:51:34,040 --> 00:51:37,839
Speaker 13: low pe. So some people think when pes are low,

823
00:51:37,920 --> 00:51:42,000
Speaker 13: it's good time to buy. Sometimes stocks have low pes, however,

824
00:51:42,480 --> 00:51:45,440
Speaker 13: simply because they're out of favor. So you have to

825
00:51:45,440 --> 00:51:49,360
Speaker 13: be aware of that also. Now, what really creates the

826
00:51:49,480 --> 00:51:52,320
Speaker 13: value of a share of common stock, ladies and gentlemen,

827
00:51:52,560 --> 00:51:55,360
Speaker 13: it's the price someone is willing to pay for that

828
00:51:55,520 --> 00:51:58,920
Speaker 13: stock that, more than anything else on earth, determines the

829
00:51:59,040 --> 00:52:02,000
Speaker 13: value of us stock. And how are the stock sold?

830
00:52:02,080 --> 00:52:04,880
Speaker 13: On the New York Stock Exchange. Every morning, when that

831
00:52:05,000 --> 00:52:08,520
Speaker 13: gong rings, there's an auction. And as my friend who's

832
00:52:08,560 --> 00:52:11,439
Speaker 13: an auctioneer, once told me, the reason I sell things

833
00:52:11,480 --> 00:52:14,920
Speaker 13: that auction is because I get the most money the fastest,

834
00:52:15,200 --> 00:52:17,680
Speaker 13: and I don't have to wait around. So that's why

835
00:52:17,680 --> 00:52:21,279
Speaker 13: they have auctions, and that's why stocks are auctioned off

836
00:52:21,600 --> 00:52:25,239
Speaker 13: every day. There are people on the floor of the

837
00:52:25,280 --> 00:52:29,160
Speaker 13: New York Stock Exchange and they're in charge of making

838
00:52:29,200 --> 00:52:33,480
Speaker 13: sure that a stock trades within certain parameters. They have

839
00:52:33,520 --> 00:52:38,040
Speaker 13: to hold up the position if there's a sudden downturn. Well,

840
00:52:38,080 --> 00:52:41,239
Speaker 13: basically that's what they're there for, to regulate the way

841
00:52:41,280 --> 00:52:44,440
Speaker 13: that stock is traded somewhat on the floor. So if

842
00:52:44,440 --> 00:52:46,880
Speaker 13: they're in charge of a position, let's say they're a

843
00:52:46,960 --> 00:52:50,600
Speaker 13: specialists there for certain stocks, they're in charge of that

844
00:52:50,680 --> 00:52:54,719
Speaker 13: position and making sure, if at all possible, there's an

845
00:52:54,920 --> 00:52:57,680
Speaker 13: orderly market and that the bottom doesn't fall out of it.

846
00:52:57,760 --> 00:53:02,360
Speaker 13: If something is a SkELL, that's unavoidable and the specialists

847
00:53:02,440 --> 00:53:05,480
Speaker 13: can't help it. When certain things happen on the floor,

848
00:53:06,000 --> 00:53:09,120
Speaker 13: or certain things happen in the economy with certain companies

849
00:53:09,160 --> 00:53:12,399
Speaker 13: like General Motors, doesn't matter what they're doing down there

850
00:53:12,560 --> 00:53:15,880
Speaker 13: with the specialists or whoever's in charge of that stock

851
00:53:16,040 --> 00:53:20,320
Speaker 13: on the floor, it just means sometimes it's a dead issue.

852
00:53:20,360 --> 00:53:23,600
Speaker 13: There's nothing that anyone can do. So you own the stock,

853
00:53:24,080 --> 00:53:27,480
Speaker 13: and certain people think, well, I'm a stockholder and you're

854
00:53:27,520 --> 00:53:30,440
Speaker 13: going to share in the company's success. They might have

855
00:53:30,480 --> 00:53:33,920
Speaker 13: a dividend which will create a yield, and they'll have

856
00:53:33,960 --> 00:53:37,560
Speaker 13: a price earnings ratio, which, if it's low, means that

857
00:53:38,239 --> 00:53:40,759
Speaker 13: the price of the stock is very low compared to

858
00:53:40,840 --> 00:53:44,000
Speaker 13: the earnings of the company. When that happens, then some

859
00:53:44,040 --> 00:53:47,960
Speaker 13: people think that's a buying opportunity if the company is

860
00:53:48,080 --> 00:53:52,040
Speaker 13: out of favor, but they need people to purchase the stock.

861
00:53:52,560 --> 00:53:56,640
Speaker 13: Sometimes they'll have a higher dividend, or if a dividend

862
00:53:56,760 --> 00:54:01,480
Speaker 13: remains the same and a stock price decreases dramatically, the

863
00:54:01,560 --> 00:54:06,240
Speaker 13: yield of that stock might look terrific. Unfortunately, many times,

864
00:54:06,480 --> 00:54:09,360
Speaker 13: when the yield is way out of whack. It simply

865
00:54:09,400 --> 00:54:12,279
Speaker 13: means the stock is out of favor, the company might

866
00:54:12,320 --> 00:54:15,840
Speaker 13: be having troubles, and the yield is way too high.

867
00:54:16,160 --> 00:54:19,759
Speaker 13: And many, many times I have seen the various companies

868
00:54:19,880 --> 00:54:23,240
Speaker 13: just simply reduce the dividend because they can no longer

869
00:54:23,239 --> 00:54:25,520
Speaker 13: pay it when the yields get up in the seventeen

870
00:54:25,600 --> 00:54:29,960
Speaker 13: eighteens and twenties. So that's what happens with your shares

871
00:54:30,000 --> 00:54:34,000
Speaker 13: of stock. Every day on the New York Stock Exchange.

872
00:54:34,040 --> 00:54:36,799
Speaker 13: They are auctioned, and at the end of the day,

873
00:54:37,239 --> 00:54:40,839
Speaker 13: your dollar in Exxon could be worth a dollar ten,

874
00:54:41,400 --> 00:54:45,080
Speaker 13: it could be worth ninety cents, depending on what happens

875
00:54:45,360 --> 00:54:48,440
Speaker 13: on the floor of the exchange, with the economy or

876
00:54:48,480 --> 00:54:53,000
Speaker 13: with the general view on the street, which is Wall Street,

877
00:54:53,440 --> 00:54:56,240
Speaker 13: as to whether or not the stock that you hold

878
00:54:56,280 --> 00:55:00,279
Speaker 13: has value. Now those stocks have been combined into other

879
00:55:00,360 --> 00:55:03,000
Speaker 13: investments now so that you don't have to buy a

880
00:55:03,000 --> 00:55:07,560
Speaker 13: particular stock. You can buy investments that bundle stocks, and

881
00:55:07,600 --> 00:55:11,360
Speaker 13: in investing in those positions, you're able to buy multiple

882
00:55:11,360 --> 00:55:15,480
Speaker 13: stocks at once bundled up. It has some wisdom, it

883
00:55:15,520 --> 00:55:19,160
Speaker 13: also has some pitfalls. I found that a collection of

884
00:55:19,200 --> 00:55:22,960
Speaker 13: stocks generally if there's twenty five stocks, you're going to

885
00:55:23,040 --> 00:55:26,440
Speaker 13: have eight that of super five or six out of dogs,

886
00:55:27,000 --> 00:55:29,399
Speaker 13: and you're going to have ten or twelve that are

887
00:55:29,719 --> 00:55:32,960
Speaker 13: middle of the road, so you end up reflecting the market.

888
00:55:33,040 --> 00:55:35,799
Speaker 13: For the most part. It's important not to panic ladies

889
00:55:35,840 --> 00:55:39,160
Speaker 13: and gentlemen. So we're thinking safety is best. However, you

890
00:55:39,200 --> 00:55:42,440
Speaker 13: can define that word so that it makes you comfortable,

891
00:55:42,800 --> 00:55:44,680
Speaker 13: is what the meaning of safety is going to be

892
00:55:44,760 --> 00:55:48,319
Speaker 13: for you. But you don't have to be heroic, and

893
00:55:48,400 --> 00:55:51,920
Speaker 13: being heroic in the market, ladies and gentlemen, has no meaning.

894
00:55:52,280 --> 00:55:54,880
Speaker 13: The only thing you're doing by being heroic and hanging

895
00:55:54,920 --> 00:55:58,239
Speaker 13: in is you're allowing people to make money off of

896
00:55:58,280 --> 00:56:01,840
Speaker 13: the low prices of your stock, especially when you finally

897
00:56:01,880 --> 00:56:05,640
Speaker 13: capitulate and throw in the towel. It allows somebody somewhere

898
00:56:06,320 --> 00:56:08,960
Speaker 13: to buy your stock at a much lower price, and

899
00:56:09,040 --> 00:56:12,600
Speaker 13: it creates regrets for you later on that you haven't

900
00:56:12,640 --> 00:56:15,279
Speaker 13: been able to just hang in there.

901
00:56:20,000 --> 00:56:23,640
Speaker 3: We'll call Kelly Financial Services eight eight eight eight hundred

902
00:56:23,800 --> 00:56:25,040
Speaker 3: eighteen eighty one.

903
00:56:25,320 --> 00:56:27,600
Speaker 5: I'm Kelly Kelly from Kelly Financial.

904
00:56:27,800 --> 00:56:32,080
Speaker 4: Whether you're in your sixties, seventies, or eighties, financial advice

905
00:56:32,239 --> 00:56:35,200
Speaker 4: is important when it comes to preserving your nest egg.

906
00:56:35,320 --> 00:56:38,720
Speaker 4: We have a free investor guide called designing your Fiscal

907
00:56:38,800 --> 00:56:42,480
Speaker 4: House to Weather the Elements, which highlights the steps needed

908
00:56:42,520 --> 00:56:46,120
Speaker 4: to build a balance portfolio. For the guide, call eight

909
00:56:46,160 --> 00:56:49,720
Speaker 4: eight eight eight hundred eighteen eighty one or email Kelly

910
00:56:49,760 --> 00:56:51,800
Speaker 4: at Kellyfinancial dot org.

911
00:56:52,040 --> 00:56:54,959
Speaker 5: We're Kelly Financial. Come retire with us