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Speaker 1: It's coming to us.

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

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

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

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

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

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

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

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Speaker 2: nonsense call in radio show focused on common sense planning

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Speaker 2: and protecting wealth. Over the past two decades, Dad became

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Speaker 2: a pillar in New England finance, an engineer turned entrepreneur,

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Speaker 2: author and philanthropist who believed in giving back and walking

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Speaker 2: the talk. Since 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 seven hundred million dollars across our affiliated business,

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Speaker 2: including more than five 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: Kelly Financial dot org or call us at eight eight

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Speaker 2: eight eight hundred one eight eight one. This is Safe

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Speaker 2: Money Strategies. Next up Forever Young with Kelly Kelly and

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Speaker 2: myself William 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 part of the show we call Forever Young. It's

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Speaker 4: where I sit down with my son, William Kelly Junior,

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Speaker 4: and we talk about life, what's going on in the world,

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Speaker 4: in our family, and what really matters most. When you're

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Speaker 4: planning for the future. Sometimes it is light sometimes it's thoughtful,

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Speaker 4: but it's always real. Good morning, William, how are you?

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Speaker 1: I'm fine, Mom, how are you?

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Speaker 2: I'm doing.

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Speaker 1: Great? Merry Christmas to all of our listeners.

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Speaker 2: This has been a wonderful, wonderful Christmas season, probably one

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Speaker 2: of the best we've had a long time.

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Speaker 1: There's been so many folks who've given toys.

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Speaker 2: And hopefully everybody had a wonderful visit from Santa Claus.

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Speaker 2: Sanna brought me a barbell, a brand new barbell, which

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Speaker 2: I desperately needed, and that was probably the biggest gift

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Speaker 2: to all. So this Christmas season, I appreciate so many

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Speaker 2: orders for my book, both on Amazon and the free

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Speaker 2: book each Prospect gets and from clients who allowed a

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Speaker 2: little more books than just one. And I hope all

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Speaker 2: our clients, prospects and listeners enjoyed. I hope that it

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Speaker 2: really benefits you, your children or your grandchildren. And the

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Speaker 2: great news is is that the book is still available.

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Speaker 2: It's not just for Christmas time. It will be always available,

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Speaker 2: same with my mom's book as well, so we will always.

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Speaker 1: Be giving out copies. The copies are even more available on.

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Speaker 2: Amazon, not limited there as they do their own printing

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Speaker 2: as well, so if you guys would like to continue

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Speaker 2: to buy books or ask for a book, just give

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Speaker 2: us a call and thank you for the turnout this

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Speaker 2: Christmas season as.

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Speaker 1: An author, a first time author. That blew me away.

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Speaker 2: And as Mom put it, she said, you're giving your

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Speaker 2: dad's book a run for his money.

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Speaker 1: Yes, she said that we have.

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Speaker 4: We have ours Kelly financial supply. We have sent out

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Speaker 4: so many books I've been signing christ unbelievable. I mean,

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Speaker 4: before we know what we're gonna have to put in

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Speaker 4: another order. But you've sold a lot on Amazon to

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Speaker 4: William that is wild.

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Speaker 2: Well, we had a wonderful visit from Murray Madaline's friend

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Speaker 2: and we'll call her. We'll call her Bella. We'll call

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Speaker 2: her Bella. Okay, and Timmy came as well. So Bella

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Speaker 2: and Timmy were there, Yes, and they were. Timmy was

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Speaker 2: on his best behavior at Al Fourno's restaurant in Providence,

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Speaker 2: like we talked about last week, great fantastic or did

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Speaker 2: we talk about last week the week before?

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Speaker 1: I don't remember, but it's a great restaurant. Yes, it

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Speaker 1: is restaurant, probably the best restaurant.

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Speaker 5: And as we order in and share everything, that's the

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Speaker 5: way to do it, certainly is is a great process.

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Speaker 1: Mary Madaline and uh Bella.

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Speaker 2: They choose everything for us. We're not allowed to order.

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Speaker 2: They know everything in advance. They're just so detailed about it.

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Speaker 2: I've never seen anybody do something like that in my life,

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Speaker 2: but they know how to do it somehow. Mary Madellin

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Speaker 2: said this place should GT A Michelin Star, and Bella said, no,

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Speaker 2: it should not. No, it should not, because then everybody

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Speaker 2: will be eating here. It'll be before we know it,

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Speaker 2: the prices are going to go up. Everybody's gonna want

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Speaker 2: to eat here. The very particular about how they do everything,

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Speaker 2: so obviously they are. We highly recommend it.

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Speaker 5: Definitely. I feel like the prices are fair.

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Speaker 1: Yes, I would say so on the pricing.

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Speaker 5: Is definitely fair for the.

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Speaker 1: Food you're getting there.

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Speaker 2: Yeah, this is the this is the you feel like

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Speaker 2: you're in Italy and then some it is the finest restaurant.

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Speaker 1: I think that just in the Northeast.

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Speaker 5: It's so good.

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Speaker 2: I've never I don't think I've been to a bad

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Speaker 2: maybe the Capital Grill, you know, on a very special occasion,

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Speaker 2: you know, and it's it's so much more fairly priced

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Speaker 2: than the Capital Grill too. Oh, yes, great experience. So

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Speaker 2: if you're looking to take you know, your wife somewhere nice.

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Speaker 5: It's a great Italian restaurant.

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Speaker 1: Yeah, it's a go to baby. Yeah, so highly recommend that.

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Speaker 2: We had a wonderful pre Christmas dinner with everyone, and

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Speaker 2: then of course some family friends of ours held a

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Speaker 2: Christmas party.

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Speaker 1: Do you want to talk a little bit about how

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Speaker 1: that works?

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Speaker 4: Mom?

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Speaker 5: It was so much fun.

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Speaker 4: It was we joined them last year and they's their

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Speaker 4: pajama party, so they ordered pajamas for everyone, and they

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Speaker 4: had even ordered pajamas for your grandfather when we thought

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Speaker 4: he was going to be here.

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Speaker 2: Yeah.

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Speaker 4: But it's just it's a nice family gathering that they

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Speaker 4: are like extended family for us, and it was great.

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Speaker 4: And then they order a ton of Chinese food from

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Speaker 4: a great restaurant not far away, and it's just it's

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Speaker 4: always a great time. Had we had another wonderful experience again.

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Speaker 2: We did, Yeah, yeah, and we got to see the

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Speaker 2: whole family is a big family and very energetic, certainly

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Speaker 2: not tame, and we're really blessed.

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Speaker 1: To have them in our life.

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Speaker 2: Oh yes, I believe that, and we're grateful for this.

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Speaker 2: We're very grateful for this dinner. It's a lot of.

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Speaker 5: Fun, Yes, and part of the family.

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Speaker 4: They actually helped me with some of the packaging for

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Speaker 4: the mud Pies throughout the year.

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Speaker 1: That's right. And she's so mom has child labor going.

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Speaker 2: On in the base, mother and daughter, and she's forcing

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Speaker 2: these kids to work.

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Speaker 1: It's certitude, and I think, I think so.

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Speaker 5: You know what, they're able to make a little extra money.

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Speaker 4: They helped me out a lot, and they're just great people.

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Speaker 4: So they're cute as they can be.

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Speaker 2: All hard working those they're one of the two sons

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Speaker 2: I actually coached wrestling for. Yes, and they're hard working kids.

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Speaker 2: They have great grit, great attitudes. They're going to go far,

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Speaker 2: either in wrestling or in life. I truly believe that.

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Speaker 5: Yes.

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Speaker 1: Most of all, they have great parents. Oh yes, they

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Speaker 1: have incredible parents.

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Speaker 4: And kudos to the parents. The most well mannered, well mannered.

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Speaker 2: Children one hundred percent makes me think about my kids.

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Speaker 2: I mean, you and you and Dad did pretty good

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Speaker 2: with me, and you guys did okay with Mary Madaline.

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Speaker 5: And William stop it.

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Speaker 2: And they remind me a lot of how you and

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Speaker 2: Dad were with us as children.

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Speaker 1: You know, how we how respectful. We are to other

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Speaker 1: people how to have manners. You know what's appropriate, what's not.

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Speaker 5: You know, I think it means a lot.

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Speaker 2: It does because I remember being as a kid and

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Speaker 2: people would say, you know, you're a very polite kid,

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Speaker 2: and I'm just like, I'm just.

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Speaker 4: Doing what I'm always when you say that, I always

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Speaker 4: think about your first grade teacher sending me that email

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Speaker 4: and she said, Kelly, I got to tell you William

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Speaker 4: is so cute today.

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Speaker 5: He said yes, ma'am, missus Marshall.

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Speaker 4: And she said, William, you don't have to say yes

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Speaker 4: ma'am to me, and you said, oh, yes, ma'am.

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Speaker 2: I do.

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Speaker 4: I'm half Southern and my mother requires me to say.

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Speaker 1: It's so funny that never I never could say yes

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Speaker 1: sir to dad. Something about it would just drive him Insaney.

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Speaker 1: You say, no, don't call me that I required it,

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Speaker 1: but yeah, for you.

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Speaker 2: So it's like I had to cater to one side

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Speaker 2: of the family and I had to cater different things

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Speaker 2: to another side.

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Speaker 5: Yes, I had kind of my parents. Your grandparents would have.

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Speaker 4: They Oh no, you had to say yes ma'am, no, ma'am, yes, sir,

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Speaker 4: no sir, And that's it.

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Speaker 5: You don't have to say thank you, ma'am.

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Speaker 4: You know it's just yes and.

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Speaker 2: No because you create a not a boundary, but a

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Speaker 2: dynamic of respect to your elders, right, you know.

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Speaker 1: Into other people.

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Speaker 5: It's a Southern thing.

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Speaker 1: It is a Southern thing. Southern hospitality is real.

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Speaker 2: If you ever met my mother, you would understand a

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Speaker 2: lot of you who know my mother one hundred percent

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Speaker 2: as why she's so successful in my opinion.

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Speaker 5: So, oh well, thank you, William, of course.

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Speaker 2: So as the new year approaches twenty twenty six, I'm

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Speaker 2: sure we're going to get all our resolutions ready.

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Speaker 1: I'm so excited.

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Speaker 4: Yeah, and yeah, that'll be exciting to come back next Saturday.

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Speaker 5: And yeah it'll be twenty twenty six. Wow.

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Speaker 1: So happy New Years to everybody.

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Speaker 4: Happy New Year. Do keep us on your dial. We've

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

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Speaker 4: do Set and Greg Workman will help put today's strong

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Speaker 4: markets into perspective and explain why smart planning matters most

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Speaker 4: when things are going well. Mary Madeline Kelly and Greg

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Speaker 4: Murray will walk through the year end RMD checklist, what

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Speaker 4: to double check before December thirty first, and how to

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Speaker 4: avoid costly mistakes as you head into the new year.

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Speaker 4: William and I will come back and we'll talk about

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Speaker 4: why retirement resolutions for the new year aren't about perfection,

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Speaker 4: They're about clarity. They're about confidence and building a financial

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Speaker 4: plan designed to support the life you want to live

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Speaker 4: in twenty twenty six and beyond. And of course we'll

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Speaker 4: close the hour with some wit and wisdom from the

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Speaker 4: late Bill Kelly. His words continue to inspire and guide us.

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Speaker 4: That's a wrap for forever young. Thank you for listening,

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Speaker 4: and William, thank you for joining me. We'll be back

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Speaker 4: with more great content.

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Speaker 5: I love you, honey, I love you too much.

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Speaker 6: If you're looking for the perfect gift for a young

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Speaker 6: person in your life.

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Speaker 1: I've got it.

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Speaker 6: It's a brand new book written by William Kelly Junior

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Speaker 6: from Kelly Financial Services, and it's called Only the Good

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Speaker 6: invest Young. This book is powerful. It gives teenagers, call

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Speaker 6: to students, young adults the roadmap they need to start saving,

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Speaker 6: planning and investing the right way. And I'll tell you

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Speaker 6: even people my age, yes and I'm fifty six, are

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Speaker 6: reading it. William actually quotes me the cooner man in

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Speaker 6: the book. I'm in the book, So you can grab

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Speaker 6: your copy right now on Amazon just search only the

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Speaker 6: Good invest Young, and if you're part of Cooner Country

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Speaker 6: you can get a copy absolutely free. Just tell them

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Speaker 6: the cooner Man sent you and called eight eight eight

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Speaker 6: eight hundred eighteen eighty one or email Kelly at Kellyfinancial

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Speaker 6: dot org. Only the Good invest Young get it today.

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Speaker 7: Hello, and welcome back to Safe Money Strategies. I'm like

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Speaker 7: du Set and.

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Speaker 8: I'm Greg Working. Thank you for spending part of your

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Speaker 8: Saturday with us.

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Speaker 7: Before we jump into today's topic, Greg and I want

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Speaker 7: to start by wishing everyone listening a wonderful holiday season,

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Speaker 7: not just Christmas, but all holidays that have celebrated this

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Speaker 7: time of the year.

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Speaker 8: That's right, whether you celebrated Christmas, Honikah, or Kwanza, or

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Speaker 8: you simply enjoyed some well earned time off with family

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Speaker 8: and friends, we hope it was meaningful and.

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Speaker 7: Relaxing, although I'll admit relaxing might not be the word

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Speaker 7: I'd use to describe hosting Christmas this year.

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Speaker 8: Same here we were both hosting, which many of you

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Speaker 8: out there know means a lot of preparation, a lot

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Speaker 8: of cooking, and a whole lot of cleanup.

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Speaker 1: But it's still worth it. Absolutely.

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Speaker 7: It's a lot of work, but there's something special about

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Speaker 7: having the house full. For me, having my boys home

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Speaker 7: for the holidays is the best part. Those moments don't

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Speaker 7: last forever and you really come to appreciate them.

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Speaker 8: And that's actually a great segue to today's conversation because

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Speaker 8: so much of what we do in financial planning is

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Speaker 8: about creating the freedom to enjoy moments like that without

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Speaker 8: constantly worrying about the markets, your money, or what's coming next.

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Speaker 7: As we sit here in the final week of December,

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Speaker 7: one thing is very clear.

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Speaker 1: The stock market has been on an impressive run.

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Speaker 8: It really has. Since the pullback in twenty twenty two,

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Speaker 8: we've now seen three consecutive years of positive returns in

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Speaker 8: the market, and.

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Speaker 7: That's something investors are definitely Portfolios are up, account balances

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Speaker 7: look healthier, and confidence is creeping back in.

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Speaker 8: But when markets are doing well, especially for an extended period,

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Speaker 8: it naturally raises some important.

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Speaker 7: Questions questions like is this sustainable? Are we due for

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Speaker 7: a pullback? Are things getting overheated?

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Speaker 1: One of the most.

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Speaker 8: Important things we try to do for our clients is

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Speaker 8: provide perspective, especially when emotions start to take.

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Speaker 7: Over exactly, because when markets are near all time highs,

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Speaker 7: it can feel like this is normal, when in reality,

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Speaker 7: it's not always the case.

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Speaker 8: Historically speaking, the S and P five hundred is actually

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Speaker 8: down about twenty six percent of the time.

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Speaker 1: Let that sink in for a moment.

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Speaker 7: Roughly one out of every four years the market finishes

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Speaker 7: lower than where it started.

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Speaker 8: Yet here we are coming off three positive years in

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Speaker 8: a row. That doesn't mean a downturn is guaranteed, but

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Speaker 8: it does mean we should be thoughtful in our approach.

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Speaker 8: As a reminder, past performance does not get guarantee future results.

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Speaker 7: One of the most common questions we're getting right now

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Speaker 7: is does this mean we're due for a correction?

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Speaker 8: And the honest answer is no. One knows when a

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Speaker 8: pullback will happen.

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Speaker 7: Markets don't operate on a calendar. They don't say, well,

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Speaker 7: it's been three good years, so now it's time to drop.

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Speaker 8: But what history tells us is that periods of strong

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Speaker 8: performance are often followed by periods of slower growth or

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Speaker 8: increased ups and downs in the market, otherwise known as volatility.

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Speaker 7: Sometimes that shows up as a full blown correction, other

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Speaker 7: times it's simply a long stretch where returns are flat

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Speaker 7: or choppy.

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Speaker 8: Another way people phrase it is are market's overheated.

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Speaker 1: And that's a fair question.

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Speaker 7: We're seeing markets back near all time highs, strong investor sentiment,

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Speaker 7: and a lot of optimism.

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Speaker 8: When optimism runs high, it can sometimes lead to complacency.

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Speaker 7: This is when people start taking on more risk than

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Speaker 7: they realize, chasing performance, overweighting certain sectors, or assuming the

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Speaker 7: good time would just keep rolling.

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Speaker 8: And that's where planning becomes more important than prediction.

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Speaker 7: This conversation is especially important for retirees and those naring retirement.

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Speaker 8: If you're in your thirties and forties and still accumulating assets,

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Speaker 8: market swings, while uncomfortable, they're manageable over time.

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Speaker 7: But if you're relying on your portfolio to generate income,

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Speaker 7: volatility matters a lot more.

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Speaker 8: A significant pullback early in retirement, combined with withdrawals, could

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Speaker 8: have a lasting impact on how long your nest egg lasts.

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Speaker 7: That's why we're always talking about risk management, not just returns.

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Speaker 8: We were recently working with a couple let's call them

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Speaker 8: Tom and Linda, both in their early sixties and planning

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Speaker 8: to retire in the next few years.

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Speaker 7: They were feeling great about the market. Their accounts had

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Speaker 7: grown nicely over the past few years, and they were

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Speaker 7: understandably excited.

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Speaker 8: But when we looked under the hood, we noticed that

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Speaker 8: their portfolio had gradually become more aggressive than the couple realized.

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Speaker 7: Not because they intentionally changed their strategy, but because the

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Speaker 7: assets that performed the best became a larger and larger

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Speaker 7: part of their portfolio.

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Speaker 8: That's a very common situation during bull markets.

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Speaker 7: As we head into a new year, this is a

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Speaker 7: perfect time to pause and ask some important questions.

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Speaker 8: Questions like is my portfolio aligned with my goals? Am

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Speaker 8: I comfortable with the amount of risk on taking? And

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Speaker 8: what happens if the market doesn't fully cooperate for a while?

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Speaker 7: Those are the conversations will continue in just a moment.

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Speaker 1: When we come.

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Speaker 8: Back, we'll talk about what today's retirees and pre retirees

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Speaker 8: can do now during strong markets to prepare for whatever

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Speaker 8: comes next.

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Speaker 7: You're listening to safe money strategies, Stay with us, We'll

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Speaker 7: be right back.

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

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Speaker 5: I'm Kelly Kelly from Kelly Financial.

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Speaker 4: Is your financial advisor a faduci In other words, are

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00:18:01,640 --> 00:18:05,119
Speaker 4: they legally required to act in your best interest. My

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Speaker 4: complimentary book, Retire Your Fear, Plan Your Future explains what

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Speaker 4: a fiduciary is and will help you understand if an

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Speaker 4: advisor is really putting you first. For the book, call

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Speaker 4: eight eight eight eight hundred and 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 9: I'm John Boudris, and welcome to a new edition of

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Speaker 9: Kelly Financial's What would Bill Say? The wit and wisdom

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Speaker 9: of the late Bill Kelly, who today tests time time.

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Speaker 10: You don't have as much left today as you had yesterday.

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Speaker 10: The rule of science? When's the best time to plant

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Speaker 10: a tree twenty years ago? When's the second best time

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00:18:46,520 --> 00:18:50,080
Speaker 10: to plant a tree? Tomorrow? Today? Whenever you can get

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Speaker 10: to it, that's the next best time.

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Speaker 9: There's no time like the present to begin saving, planning

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Speaker 9: and enjoying retirement. So download our consumer guide simply called

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Speaker 9: a Happy Retirement and find six secrets of how you

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Speaker 9: can spend your time to cultivate happiness and a retirement

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Speaker 9: well lived. Go to Kellyfinancial dot org or call eight

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Speaker 9: eight eight eight hundred eighteen eighty one to spend some

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Speaker 9: time with one of our financial advisors.

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Speaker 10: Time, ladies and gentlemen, it's not too like we.

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Speaker 9: Are 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 11: Hello, this is Greg Murray, Senior Vice president and Chief

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

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Speaker 11: Mary Madeline Kelly, one of our wealth advisors.

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Speaker 1: How are you doing today, Hi, Greg, I am doing well. Thanks.

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Speaker 12: Seems that no matter how early you start planning for

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Speaker 12: Christmas and buying people's gifts, it always seems like I'm

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Speaker 12: so scrambling right before, trying to get everything in order.

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Speaker 5: But it all.

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Speaker 12: Worked out and now we are in the sweet spot,

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Speaker 12: right in between Christmas and New Year's.

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Speaker 11: This is a fun time and everyone is in a

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Speaker 11: joyful mood as we are approaching a new year. We've

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Speaker 11: talked about required minimum distributions before, but with only a

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Speaker 11: few days left in the year, this is the perfect

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Speaker 11: moment to really drill down on rmds and make sure

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Speaker 11: people haven't missed anything.

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Speaker 12: Yes, because this is one of those deadlines you can't

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Speaker 12: fix after the fact. If you miss an R and D,

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Speaker 12: the IRS penalty can be significant, so now is the

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Speaker 12: time to double check that everything is done.

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Speaker 1: Correctly, So let's start with the basics.

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Speaker 11: An RMD, or required minimum distribution, is the amount the

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Speaker 11: IRS requires you to withdraw each year from certain retirement

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Speaker 11: accounts once you reach RMDH, which is currently seventy three

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Speaker 11: for most retirees.

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Speaker 12: That applies to traditional iras old four oh one k's

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Speaker 12: step iras basically any pre tax retirement account, and those

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Speaker 12: withdrawals are taxable as ordinary income.

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Speaker 11: And the deadline is key here. Rmds must be taken

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Speaker 11: by December thirty first each year. The only exception is

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Speaker 11: the very first RMD, which can be delayed until April

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Speaker 11: first of the following year, but that often creates other tax.

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Speaker 12: Issues exactly because if you delay that first one, you

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Speaker 12: may end up taking two rmds in the same year,

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Speaker 12: which can push you into a higher tax bracket, increase

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Speaker 12: Medicare premiums, and cause more of your Social Security to

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Speaker 12: be taxed.

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Speaker 11: So, if you're listening today and you're required to take

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Speaker 11: an RMD in twenty twenty five, the question is simple,

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Speaker 11: has it already been taken?

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Speaker 12: And if you have multiple accounts, that's where people get

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Speaker 12: tripped up. You may have taken an R and D

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Speaker 12: from one IRA but forgotten another account, especially an old

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Speaker 12: four oh one K from a previous employer.

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Speaker 11: That's a big one. And remember, while you can aggregate

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Speaker 11: irarmds and take them from one IRA, four oh one

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Speaker 11: k rmds must be taken separately from each plan.

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Speaker 12: Another thing we see at year end is people accidentally

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Speaker 12: taking the wrong amount. Rmds are calculated based on your

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Speaker 12: account balance as of December thirty first of last year,

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Speaker 12: not the current balance right, and.

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Speaker 1: Market fluctuations can make that confusing.

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Speaker 11: Even if your an account value dropped earlier this year,

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Speaker 11: the IRS still requires the calculated distribution.

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Speaker 12: Now let's talk about one powerful year INDI strategy, Qualified

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Speaker 12: charitable distributions or qcds. If you're seventy and a half

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Speaker 12: or older and charitably inclined, you can send money directly

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Speaker 12: from your IRA to a qualified charity.

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Speaker 11: And that distribution can count towards your RMD without being

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Speaker 11: included in your taxable income.

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Speaker 12: But timing matters. The funds must leave your IRA and

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Speaker 12: reach the charity by December thirty first to count for

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Speaker 12: this year. Writing a check today that clears in January

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Speaker 12: won't work exactly.

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Speaker 11: And another reminder, rmds cannot be rolled into a roth

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Speaker 11: IRA or reinvested into another tax advantage retirement account. Once

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Speaker 11: that money comes out, it's taxable income.

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Speaker 12: Which is why planning ahead matters. Rmds can affect your

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Speaker 12: tax bracket, medicare, premiums, and cash flow, so they shouldn't

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Speaker 12: be handled at the last minute if you can avoid it.

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Speaker 11: But if you are listening right now and thinking I'm

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Speaker 11: not one hundred percent sure mine was done, there's still time.

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Speaker 12: You just need to that quickly, absolutely, and even if

443
00:22:54,320 --> 00:22:58,040
Speaker 12: your custodian process the distribution, it's worth confirming that the

444
00:22:58,119 --> 00:23:01,080
Speaker 12: correct amount was taken and that it was properly coded.

445
00:23:01,200 --> 00:23:04,240
Speaker 11: So let's summarize for our listeners, especially given the timing

446
00:23:04,280 --> 00:23:04,760
Speaker 11: of this show.

447
00:23:04,840 --> 00:23:08,720
Speaker 12: Here's your year end RMD checklist. Confirm whether you're required

448
00:23:08,760 --> 00:23:10,760
Speaker 12: to take an r and D this year. Make sure

449
00:23:10,800 --> 00:23:14,679
Speaker 12: it's been taken from all applicable accounts. Verify the amount

450
00:23:14,680 --> 00:23:18,359
Speaker 12: that was calculated correctly, consider whether a QCD makes sense

451
00:23:18,400 --> 00:23:21,879
Speaker 12: for you, and complete everything before December thirty first.

452
00:23:22,040 --> 00:23:25,480
Speaker 11: Perfect summary, and while rmds are mandatory, how you handle

453
00:23:25,520 --> 00:23:27,240
Speaker 11: them can still be very strategic.

454
00:23:27,440 --> 00:23:31,440
Speaker 12: Exactly at Kelly Financial. We help clients integrate rmds into

455
00:23:31,480 --> 00:23:34,520
Speaker 12: their overall retirement income plan, so they're not just checking

456
00:23:34,600 --> 00:23:38,560
Speaker 12: a box but making thoughtful decisions around taxes and cash flow.

457
00:23:38,680 --> 00:23:41,920
Speaker 11: And as always, it's important to remember that investing involves risk,

458
00:23:42,080 --> 00:23:45,440
Speaker 11: including the potential loss of principle, and tax strategies should

459
00:23:45,480 --> 00:23:49,000
Speaker 11: always be evaluated in the context of your full financial picture.

460
00:23:49,119 --> 00:23:52,240
Speaker 12: Well said, so, if you're listening on December twenty seventh

461
00:23:52,359 --> 00:23:55,719
Speaker 12: and Stilney Clarity or Confirmation, don't wait. This is one

462
00:23:55,760 --> 00:23:57,960
Speaker 12: of those times where a quick review can save you

463
00:23:58,000 --> 00:23:59,160
Speaker 12: from a costly mistake.

464
00:23:59,320 --> 00:24:00,840
Speaker 1: That's going to wrap up this segment.

465
00:24:01,000 --> 00:24:03,240
Speaker 11: If you have any questions about your RMD or want

466
00:24:03,280 --> 00:24:06,080
Speaker 11: help making sure everything is in order before you're in give.

467
00:24:06,000 --> 00:24:06,360
Speaker 1: Us a call.

468
00:24:06,480 --> 00:24:08,720
Speaker 12: Absolutely, we want to make sure you get this taken

469
00:24:08,760 --> 00:24:10,920
Speaker 12: care of. And I love being able to say this,

470
00:24:11,000 --> 00:24:12,320
Speaker 12: so I'll see you next year.

471
00:24:12,600 --> 00:24:13,320
Speaker 1: Happy New Year.

472
00:24:13,600 --> 00:24:16,480
Speaker 3: To get in touch with Greg Murray or Mary, Madeline

473
00:24:16,560 --> 00:24:20,120
Speaker 3: Kelly or any member of the Kelly Financial team, call

474
00:24:20,280 --> 00:24:28,520
Speaker 3: eight eight eight hundred eighteen eighty one. Safe Money Strategies

475
00:24:28,840 --> 00:24:29,879
Speaker 3: with William.

476
00:24:29,560 --> 00:24:31,040
Speaker 1: Kelly and Kelly Kelly.

477
00:24:31,280 --> 00:24:35,560
Speaker 3: Call the team on eight eight eight hundred eighteen eighty one.

478
00:24:39,920 --> 00:24:44,359
Speaker 4: Welcome back to Safe Money Strategies. I'm Kelly Kelly and

479
00:24:44,440 --> 00:24:47,560
Speaker 4: I'm here with my son, William Kelly Junior.

480
00:24:47,800 --> 00:24:49,320
Speaker 1: It's great to be with you again, lom.

481
00:24:49,600 --> 00:24:52,680
Speaker 4: If you're just joining us, you're listening to Safe Money

482
00:24:52,720 --> 00:24:58,080
Speaker 4: Strategies on WRKO. Today, we're talking about heading into the

483
00:24:58,160 --> 00:25:02,000
Speaker 4: new year, and for many retire tirees that means thinking

484
00:25:02,160 --> 00:25:06,000
Speaker 4: less about strict resolutions and more about how they want

485
00:25:06,040 --> 00:25:08,080
Speaker 4: to fill in twenty twenty six.

486
00:25:08,480 --> 00:25:11,280
Speaker 2: More clarity, more balanced and stronger sense of purpose.

487
00:25:11,640 --> 00:25:14,959
Speaker 4: Exactly So, in this part of the show, William and

488
00:25:15,000 --> 00:25:18,880
Speaker 4: I want to talk about what we're calling your lifestyle

489
00:25:19,040 --> 00:25:24,720
Speaker 4: reset for twenty twenty six, focusing on energy, on health,

490
00:25:25,200 --> 00:25:29,160
Speaker 4: connection and what really matters as you move forward. As

491
00:25:29,200 --> 00:25:32,359
Speaker 4: another year comes to a close, a lot of people

492
00:25:32,440 --> 00:25:37,720
Speaker 4: feel pressure to reinvent themselves in January. But what we're seeing,

493
00:25:38,119 --> 00:25:43,920
Speaker 4: especially among retirees, is a more gentle, healthier shift. People

494
00:25:43,960 --> 00:25:48,760
Speaker 4: are choosing intention over rigid resolutions.

495
00:25:48,080 --> 00:25:49,000
Speaker 1: And that matters.

496
00:25:49,119 --> 00:25:52,560
Speaker 2: Retirement already gives you something incredibly valuable time.

497
00:25:53,160 --> 00:25:55,520
Speaker 1: Intention simply helps guide how you use it.

498
00:25:55,960 --> 00:25:58,480
Speaker 2: Instead of saying I have to do this perfectly, people

499
00:25:58,520 --> 00:26:00,040
Speaker 2: are asking how do I want.

500
00:25:59,840 --> 00:26:00,800
Speaker 1: My days to feel.

501
00:26:01,000 --> 00:26:06,919
Speaker 4: Lifestyle outlooks heading into twenty twenty six suggests many retirees

502
00:26:07,080 --> 00:26:11,440
Speaker 4: want life to feel intentional rather than hectic. They want

503
00:26:11,520 --> 00:26:14,880
Speaker 4: their routines to support them, not exhaust them.

504
00:26:15,080 --> 00:26:18,160
Speaker 2: One simple idea that's become popular is choosing a guiding

505
00:26:18,200 --> 00:26:22,000
Speaker 2: bird for the year, something like calm, clarity, movement, or connection.

506
00:26:22,520 --> 00:26:24,679
Speaker 4: It's not a rule, it's more of a compass. And

507
00:26:24,760 --> 00:26:28,760
Speaker 4: I'll share this personally. I have been choosing a word

508
00:26:28,920 --> 00:26:32,720
Speaker 4: of the year for many years now, and it's something

509
00:26:32,920 --> 00:26:35,199
Speaker 4: that really has helped me.

510
00:26:35,920 --> 00:26:38,080
Speaker 5: And in particular, there.

511
00:26:37,960 --> 00:26:41,920
Speaker 4: Was a time after your father passed away, William, when

512
00:26:42,040 --> 00:26:45,919
Speaker 4: I realized I needed to be more intentional about how

513
00:26:45,960 --> 00:26:47,600
Speaker 4: I was moving through life.

514
00:26:47,800 --> 00:26:49,560
Speaker 1: That was an important season.

515
00:26:49,440 --> 00:26:53,439
Speaker 4: It was, And the word I chose that year was

516
00:26:53,640 --> 00:27:00,960
Speaker 4: simply joy. Not because everything felt joyful, but because I

517
00:27:01,200 --> 00:27:04,600
Speaker 4: wanted to be more aware of it, to notice it

518
00:27:04,680 --> 00:27:08,080
Speaker 4: when it showed up, even the little tiny things that

519
00:27:08,240 --> 00:27:12,120
Speaker 4: brought even a tiny bit of joy, and I wanted

520
00:27:12,160 --> 00:27:14,159
Speaker 4: to allow space for it again.

521
00:27:14,560 --> 00:27:17,960
Speaker 2: And that's really the power of intention. It doesn't force anything,

522
00:27:18,080 --> 00:27:19,160
Speaker 2: it just helps guide your.

523
00:27:19,160 --> 00:27:23,640
Speaker 4: Focus exactly, and I think that's why this approach resonates

524
00:27:23,680 --> 00:27:28,960
Speaker 4: with so many retirees, it's not about doing more, it's

525
00:27:29,000 --> 00:27:31,560
Speaker 4: about being more present with what matters.

526
00:27:31,840 --> 00:27:34,080
Speaker 2: As you look toward twenty twenty six, there's a clear

527
00:27:34,119 --> 00:27:38,080
Speaker 2: trend of merging. People want simplicity. They want predictable rhythms,

528
00:27:38,119 --> 00:27:40,320
Speaker 2: fewer distractions, and a calmer pace.

529
00:27:40,560 --> 00:27:47,800
Speaker 4: Many retirees are simplifying schedules, rethinking commitments, and even downsizing

530
00:27:47,920 --> 00:27:55,320
Speaker 4: mental clutter. Instead of dramatic goals, they're choosing small, sustainable routines.

531
00:27:55,680 --> 00:27:59,359
Speaker 2: Interestingly, even economists describe twenty twenty six as more of

532
00:27:59,400 --> 00:28:03,399
Speaker 2: a normalized here, steadier, slower, and more predictable than what

533
00:28:03,440 --> 00:28:05,200
Speaker 2: we experienced recently.

534
00:28:04,920 --> 00:28:10,159
Speaker 4: And simplicity often brings clarity. Some retirees are choosing a

535
00:28:10,320 --> 00:28:15,720
Speaker 4: declutter month, whether that's physical clutter at home, digital clutter

536
00:28:15,840 --> 00:28:21,360
Speaker 4: on devices, or emotional clutter tied to old obligations.

537
00:28:21,760 --> 00:28:25,560
Speaker 2: A calmer environment supports clear thinking, and clear thinking helps

538
00:28:25,600 --> 00:28:27,920
Speaker 2: people make better daily choices, which.

539
00:28:27,800 --> 00:28:31,200
Speaker 4: Leads us to an important part of retirement life. Your

540
00:28:31,320 --> 00:28:38,960
Speaker 4: sense of security. Security isn't just financial, it's emotional, it's physical,

541
00:28:39,600 --> 00:28:45,000
Speaker 4: it's relational. When people feel prepared, life tends to feel

542
00:28:45,400 --> 00:28:46,680
Speaker 4: far more manageable.

543
00:28:46,800 --> 00:28:49,880
Speaker 2: One helpful concept is what retirees called a calm calendar.

544
00:28:50,240 --> 00:28:53,160
Speaker 2: It's not about filling your schedule, it's about organizing it

545
00:28:53,200 --> 00:28:54,200
Speaker 2: in a supportive way.

546
00:28:54,400 --> 00:28:59,920
Speaker 4: That could mean one organizing task per month, one health checking,

547
00:29:00,080 --> 00:29:04,640
Speaker 4: and one intentional connection with someone you care about.

548
00:29:05,040 --> 00:29:08,719
Speaker 2: Research shows that people with consistent routines report lower stress

549
00:29:08,800 --> 00:29:13,040
Speaker 2: levels entering the new year. Knowing where important things are medications, documents,

550
00:29:13,040 --> 00:29:15,160
Speaker 2: appointments reduces mental clutter.

551
00:29:15,360 --> 00:29:20,040
Speaker 4: A consumer wellbeing survey from twenty twenty five found that

552
00:29:20,160 --> 00:29:25,320
Speaker 4: retirees who planned a head felt more confident overall, and

553
00:29:25,400 --> 00:29:29,800
Speaker 4: that confidence didn't come from perfection, it came from preparation.

554
00:29:30,240 --> 00:29:32,800
Speaker 2: Peace of mind is usually built on the quiet moments,

555
00:29:32,960 --> 00:29:34,400
Speaker 2: long before you ever need it.

556
00:29:34,520 --> 00:29:39,600
Speaker 4: Help and wellness outlooks for twenty twenty six emphasize something

557
00:29:39,800 --> 00:29:48,000
Speaker 4: refreshingly realistic gentle movement, walking, stretching, mobility activities that fit

558
00:29:48,160 --> 00:29:49,040
Speaker 4: real life.

559
00:29:49,280 --> 00:29:52,640
Speaker 2: Sleep is another key focus. Consistent sleep routines remain one

560
00:29:52,680 --> 00:29:56,280
Speaker 2: of the strongest predictors of aging well. Small changes like

561
00:29:56,360 --> 00:29:58,880
Speaker 2: regular bed times can make a meaningful difference.

562
00:29:59,120 --> 00:30:03,040
Speaker 4: There's also grown going emphasis on keeping the brain engaged

563
00:30:03,520 --> 00:30:08,200
Speaker 4: novelty matters, trying one new thing each month, a class,

564
00:30:08,400 --> 00:30:12,760
Speaker 4: a hobby, or a new routine supports cognitive.

565
00:30:12,240 --> 00:30:16,640
Speaker 2: Engagement, hydration, balanced meals, and outdoor time all support mood

566
00:30:16,680 --> 00:30:20,320
Speaker 2: and energy. Most retirees don't need extreme wellness plans, they

567
00:30:20,360 --> 00:30:22,160
Speaker 2: need routines that work well for them.

568
00:30:22,360 --> 00:30:26,479
Speaker 4: Wellness in retirement is not a project, is a rhythm.

569
00:30:27,040 --> 00:30:31,120
Speaker 4: Another theme we're seeing as people head into twenty twenty

570
00:30:31,200 --> 00:30:37,320
Speaker 4: six is the desire for stronger family connection and clearer communication.

571
00:30:37,680 --> 00:30:41,560
Speaker 2: Many families want fewer unspoken worries and more open conversations.

572
00:30:41,720 --> 00:30:47,000
Speaker 4: Some retirees are planning a simple January family conversation in

573
00:30:47,120 --> 00:30:51,880
Speaker 4: person or virtual to talk about priorities and hopes for

574
00:30:51,960 --> 00:30:52,320
Speaker 4: the year.

575
00:30:52,880 --> 00:30:55,680
Speaker 2: Others are creating one new tradition, a monthly brunch, a

576
00:30:55,680 --> 00:30:57,320
Speaker 2: weekly call, or an annual trip.

577
00:30:57,600 --> 00:31:03,640
Speaker 4: Sharing your intentions reduces get work and strengthens relationships. Even

578
00:31:03,800 --> 00:31:07,080
Speaker 4: small check ins help everyone feel supported.

579
00:31:07,320 --> 00:31:10,040
Speaker 1: Connection doesn't just happen, it's creative.

580
00:31:09,760 --> 00:31:14,480
Speaker 4: Lifestyle intentions give you energy for the year, but financial

581
00:31:14,560 --> 00:31:17,760
Speaker 4: clarity helps support confidence for the long term.

582
00:31:17,800 --> 00:31:20,320
Speaker 2: One of the most common questions for tyres ask heading

583
00:31:20,320 --> 00:31:22,280
Speaker 2: into the new year is will my money last as

584
00:31:22,320 --> 00:31:22,960
Speaker 2: long as I do?

585
00:31:23,240 --> 00:31:26,600
Speaker 4: And if that's a question you've been asking yourself, we

586
00:31:26,680 --> 00:31:30,520
Speaker 4: have a complimentary guide called Will My Money Last as

587
00:31:30,600 --> 00:31:33,600
Speaker 4: Long As I Do? It's designed to help you think

588
00:31:33,760 --> 00:31:38,000
Speaker 4: through income, longevity, and some of the what ifs that

589
00:31:38,200 --> 00:31:41,960
Speaker 4: come with retirement at your own pace. If you'd like

590
00:31:42,000 --> 00:31:44,440
Speaker 4: a copy, you can give us a call at eight

591
00:31:44,480 --> 00:31:45,400
Speaker 4: eight eight eight.

592
00:31:45,320 --> 00:31:49,480
Speaker 5: Hundred eighteen eighty one, or you can email.

593
00:31:49,160 --> 00:31:53,760
Speaker 4: Us at Kelly at Kellyfinancial dot org and we'll be

594
00:31:53,880 --> 00:31:55,880
Speaker 4: happy to get that guide out to you.

595
00:31:56,160 --> 00:31:58,560
Speaker 2: People are living longer than ever, often well into the

596
00:31:58,640 --> 00:32:01,920
Speaker 2: mid eighties and beyond. That means longer retirements and more

597
00:32:02,000 --> 00:32:02,800
Speaker 2: years to plan for.

598
00:32:03,080 --> 00:32:06,680
Speaker 4: When we come back, we'll shift the conversation and talk

599
00:32:06,720 --> 00:32:12,440
Speaker 4: about the financial wellness resolutions retirees are considering for twenty

600
00:32:12,520 --> 00:32:18,080
Speaker 4: twenty six, including income, healthcare, and long term confidence.

601
00:32:18,400 --> 00:32:19,160
Speaker 1: Stay with us.

602
00:32:19,400 --> 00:32:28,040
Speaker 4: You're listening to safe Money Strategies right here on WRKO.

603
00:32:28,280 --> 00:32:32,360
Speaker 3: Safe Money Strategies brought to you by Kelly Financial Services.

604
00:32:32,560 --> 00:32:36,360
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

605
00:32:36,440 --> 00:32:38,360
Speaker 3: visit Kellyfinancial dot org.

606
00:32:38,920 --> 00:32:42,320
Speaker 9: Ready to enjoy your golden years without worry that Kelly

607
00:32:42,360 --> 00:32:46,160
Speaker 9: Financial we know retirement planning can be overwhelming. With more

608
00:32:46,200 --> 00:32:49,320
Speaker 9: than twenty two years of experience, our friendly team of

609
00:32:49,400 --> 00:32:53,040
Speaker 9: advisors makes it easy and stress free. Trust us to

610
00:32:53,120 --> 00:32:56,000
Speaker 9: help you create a secure and enjoyable future.

611
00:32:56,280 --> 00:32:57,200
Speaker 1: For a free.

612
00:32:56,920 --> 00:33:01,200
Speaker 9: Initial retirement consultation called eight eight eight eight hundred eighteen

613
00:33:01,280 --> 00:33:05,440
Speaker 9: eighty one or email Kelly at Kellyfinancial dot org. We're

614
00:33:05,520 --> 00:33:07,680
Speaker 9: Kelly Financial. Come retire with.

615
00:33:07,600 --> 00:33:12,520
Speaker 3: Us Safe Money Strategies with William Kelly and Kelly Kelly.

616
00:33:12,760 --> 00:33:17,040
Speaker 3: Call the team on eight eight eight hundred eighteen eighty one.

617
00:33:17,680 --> 00:33:26,920
Speaker 4: Thank care, Welcome back to Sake Money Strategies. I'm Kelly

618
00:33:27,040 --> 00:33:30,880
Speaker 4: Kelly and I'm here with my son, William Kelly Junior.

619
00:33:31,120 --> 00:33:31,920
Speaker 1: Great to be back.

620
00:33:32,080 --> 00:33:35,320
Speaker 4: If you're just joining us, you're listening to Safe Money

621
00:33:35,360 --> 00:33:40,040
Speaker 4: Strategies on WRKO. In the first part of the show,

622
00:33:40,160 --> 00:33:45,360
Speaker 4: we talked about lifestyle intentions for twenty twenty six, focusing

623
00:33:45,440 --> 00:33:49,880
Speaker 4: on energy, on purpose, health and connection.

624
00:33:50,320 --> 00:33:52,960
Speaker 2: And now we want to continue that conversation by looking

625
00:33:53,000 --> 00:33:55,280
Speaker 2: at the financial side of us starting a new year,

626
00:33:55,720 --> 00:33:59,280
Speaker 2: because financial clarity plays a big role in overall peace.

627
00:33:59,040 --> 00:34:04,680
Speaker 4: Of mindad into twenty twenty six. We're hearing something very clearly.

628
00:34:05,240 --> 00:34:08,640
Speaker 4: Retirees want confidence, not complexity.

629
00:34:08,920 --> 00:34:12,480
Speaker 2: That's right. Many people aren't looking to overhaul everything. They

630
00:34:12,520 --> 00:34:15,399
Speaker 2: simply want to understand where they stand and feel more

631
00:34:15,400 --> 00:34:16,560
Speaker 2: prepared moving forward.

632
00:34:16,920 --> 00:34:20,400
Speaker 4: One of the most common thoughts people share is I

633
00:34:20,560 --> 00:34:25,160
Speaker 4: want to know my money will last, not necessarily forever,

634
00:34:25,520 --> 00:34:29,000
Speaker 4: but long enough to support the life they've worked hard

635
00:34:29,080 --> 00:34:29,600
Speaker 4: to build.

636
00:34:30,120 --> 00:34:34,120
Speaker 2: And that's an important distinction. The goal isn't perfection. The

637
00:34:34,200 --> 00:34:35,320
Speaker 2: goal is clarity.

638
00:34:35,680 --> 00:34:40,080
Speaker 4: When retirees have a clear income picture, they tend to

639
00:34:40,120 --> 00:34:45,480
Speaker 4: feel more in control. It doesn't remove uncertainty completely, but

640
00:34:45,600 --> 00:34:49,120
Speaker 4: it helps replace anxiety with understanding.

641
00:34:49,440 --> 00:34:51,320
Speaker 1: You don't need all the answers, you just need a

642
00:34:51,360 --> 00:34:52,000
Speaker 1: clear direction.

643
00:34:52,239 --> 00:34:56,640
Speaker 4: One of the biggest shifts where retirees face today is longevity.

644
00:34:57,040 --> 00:35:00,000
Speaker 4: People are living longer than previous.

645
00:34:59,600 --> 00:35:03,480
Speaker 2: General national data shows that many people who reach age

646
00:35:03,520 --> 00:35:06,600
Speaker 2: sixty five now live well into their mid eighties, and

647
00:35:06,719 --> 00:35:08,240
Speaker 2: quite a few live even longer.

648
00:35:08,440 --> 00:35:12,440
Speaker 4: Longevity is a gift, but it also means more years

649
00:35:12,480 --> 00:35:16,320
Speaker 4: of spending health care and lifestyle needs.

650
00:35:16,600 --> 00:35:19,680
Speaker 2: That's why one thoughtful resolution for twenty twenty six is

651
00:35:19,719 --> 00:35:23,560
Speaker 2: simply awareness planning for a retirement that could last twenty

652
00:35:23,600 --> 00:35:25,240
Speaker 2: five or even thirty years.

653
00:35:25,560 --> 00:35:31,120
Speaker 4: This doesn't require complicated math. It starts with asking what

654
00:35:31,239 --> 00:35:34,319
Speaker 4: do I want those extra years to look like.

655
00:35:34,680 --> 00:35:38,280
Speaker 2: Longevity isn't something to fear, it's something to plan for.

656
00:35:38,480 --> 00:35:42,920
Speaker 4: Healthcare continues to be one of the most unpredictable areas

657
00:35:43,120 --> 00:35:44,480
Speaker 4: of retirement planning.

658
00:35:44,760 --> 00:35:47,640
Speaker 2: Medical costs tend to rise over time, and they often

659
00:35:47,680 --> 00:35:49,560
Speaker 2: increase faster than general inflation.

660
00:35:49,840 --> 00:35:54,960
Speaker 4: Heading into twenty twenty six, the key isn't knowing exact numbers,

661
00:35:55,360 --> 00:35:56,960
Speaker 4: its awareness, and.

662
00:35:56,920 --> 00:36:00,480
Speaker 2: A simple resolution is reviewing or coverage each year that

663
00:36:00,520 --> 00:36:05,080
Speaker 2: includes prescriptions, supplemental plans, and any changes that may affect

664
00:36:05,080 --> 00:36:05,759
Speaker 2: your situation.

665
00:36:06,120 --> 00:36:10,439
Speaker 4: Another helpful step is scheduling preventative care early in the year.

666
00:36:11,080 --> 00:36:15,000
Speaker 4: Small actions can support long term well being.

667
00:36:15,600 --> 00:36:19,040
Speaker 2: Good health is priceless, and thoughtful planning makes it more manageable.

668
00:36:19,360 --> 00:36:23,880
Speaker 4: Another area retirees think more about as they age is

669
00:36:24,040 --> 00:36:25,120
Speaker 4: long term care.

670
00:36:25,480 --> 00:36:28,319
Speaker 2: Studies show that many Americans will need some level of

671
00:36:28,360 --> 00:36:30,239
Speaker 2: long term support during their lifetime.

672
00:36:30,560 --> 00:36:34,640
Speaker 4: Cost can vary depending on location and level of care.

673
00:36:35,200 --> 00:36:39,080
Speaker 4: Medicare does not cover most long term care needs.

674
00:36:39,600 --> 00:36:43,160
Speaker 2: A practical resolution for twenty twenty six is simply understanding

675
00:36:43,200 --> 00:36:46,120
Speaker 2: your preferences. Where would you want to receive care, who

676
00:36:46,160 --> 00:36:48,560
Speaker 2: would help, what kind of support would feel right to you.

677
00:36:49,000 --> 00:36:56,640
Speaker 4: We're also seeing more retirees serving as caregivers for spouses, siblings, grandchildren,

678
00:36:57,000 --> 00:36:58,280
Speaker 4: or adult children.

679
00:36:58,480 --> 00:37:00,959
Speaker 1: Planning isn't about fear about flexibility.

680
00:37:01,040 --> 00:37:06,040
Speaker 4: The future rarely goes exactly according to plan, but planning

681
00:37:06,560 --> 00:37:10,239
Speaker 4: helps give you a voice in how it unfolds. At

682
00:37:10,320 --> 00:37:15,560
Speaker 4: the center of financial wellness is income, Knowing how your

683
00:37:15,680 --> 00:37:17,960
Speaker 4: money supports your lifestyle.

684
00:37:18,360 --> 00:37:21,319
Speaker 2: A good retirement income plan doesn't need to be complicated,

685
00:37:21,400 --> 00:37:22,400
Speaker 2: it needs to be clear.

686
00:37:22,680 --> 00:37:26,800
Speaker 4: One simple resolution for twenty twenty six is writing down

687
00:37:26,880 --> 00:37:32,120
Speaker 4: your expected monthly expenses and separating needs from wants.

688
00:37:32,320 --> 00:37:34,920
Speaker 2: It's also helpful to think through your what if What

689
00:37:35,000 --> 00:37:37,719
Speaker 2: if healthcare needs to change, what if markets have a

690
00:37:37,800 --> 00:37:40,000
Speaker 2: down year, What if you need to help, what if

691
00:37:40,040 --> 00:37:40,959
Speaker 2: you need help at home.

692
00:37:41,160 --> 00:37:46,640
Speaker 4: The happiest retirees aren't perfect planners, they're prepared planners.

693
00:37:47,120 --> 00:37:50,560
Speaker 2: Financial wellness is being able to enjoy today while feeling

694
00:37:50,560 --> 00:37:51,920
Speaker 2: thoughtful about tomorrow.

695
00:37:52,120 --> 00:37:56,400
Speaker 4: This is where working with a fiduciary advisor can be helpful.

696
00:37:56,960 --> 00:38:01,560
Speaker 4: Our Kelly Financial Advisors work with clients to review income,

697
00:38:02,120 --> 00:38:08,520
Speaker 4: healthcare considerations, longevity and long term planning in a clear,

698
00:38:08,800 --> 00:38:09,880
Speaker 4: approachable way.

699
00:38:10,080 --> 00:38:13,280
Speaker 2: They will help align income with lifestyle goals and identify

700
00:38:13,320 --> 00:38:14,600
Speaker 2: areas that may need attention.

701
00:38:14,800 --> 00:38:18,680
Speaker 4: We also offer a complimentary guide called will My Money

702
00:38:18,760 --> 00:38:22,399
Speaker 4: Last as Long as I do. It's designed to help

703
00:38:22,480 --> 00:38:26,800
Speaker 4: you think through these questions and understand the role income

704
00:38:26,880 --> 00:38:28,920
Speaker 4: planning plays in retirement.

705
00:38:29,000 --> 00:38:30,840
Speaker 2: And if you like a copy of that guide, you

706
00:38:30,880 --> 00:38:32,800
Speaker 2: can give us a call at eighty eight eight hundred

707
00:38:32,840 --> 00:38:35,120
Speaker 2: and one eighty one or email us and we'll be

708
00:38:35,160 --> 00:38:36,879
Speaker 2: happy to get that information out to you.

709
00:38:37,040 --> 00:38:41,920
Speaker 4: As you head into twenty twenty six. Remember, retirement planning

710
00:38:42,080 --> 00:38:46,080
Speaker 4: isn't just about numbers. It's about supporting the life you

711
00:38:46,160 --> 00:38:46,879
Speaker 4: want to live.

712
00:38:47,200 --> 00:38:50,759
Speaker 2: With clarity, preparation and the right guidance, retirement can feel

713
00:38:50,800 --> 00:38:52,759
Speaker 2: more confident and more enjoyable.

714
00:38:52,920 --> 00:38:55,640
Speaker 4: Thank you for spending part of your weekend with us.

715
00:38:55,880 --> 00:38:59,799
Speaker 4: If you'd like to continue this conversation, our team is

716
00:39:00,120 --> 00:39:01,680
Speaker 4: always happy to help.

717
00:39:01,680 --> 00:39:02,800
Speaker 1: Enjoy the rest of your weekend.

718
00:39:03,040 --> 00:39:11,320
Speaker 4: You've been listening to Safe Money Strategies right here on WRKO.

719
00:39:11,600 --> 00:39:15,680
Speaker 3: Safe Money Strategies brought to you by Kelly Financial Services.

720
00:39:15,880 --> 00:39:19,680
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

721
00:39:19,760 --> 00:39:21,720
Speaker 3: visit Kellyfinancial dot org.

722
00:39:23,200 --> 00:39:26,160
Speaker 7: Welcome back to Safe Money Strategies. I'm Mike Dussaid, joined

723
00:39:26,160 --> 00:39:27,640
Speaker 7: as always by Greg Workman.

724
00:39:27,800 --> 00:39:30,640
Speaker 8: Thank you for staying with us and tuning in today.

725
00:39:30,760 --> 00:39:33,360
Speaker 7: Before the break, we spend some time putting the recent

726
00:39:33,400 --> 00:39:38,600
Speaker 7: bullmarket into perspective three consecutive years of positive returns, market's

727
00:39:38,640 --> 00:39:41,759
Speaker 7: near all time highs again, and a lot of investors

728
00:39:41,800 --> 00:39:44,799
Speaker 7: asking the same question, can this continue?

729
00:39:44,840 --> 00:39:47,480
Speaker 8: And while that's a fair question, what we really want

730
00:39:47,520 --> 00:39:49,640
Speaker 8: to focus on in this part of the show is

731
00:39:49,680 --> 00:39:52,879
Speaker 8: how retirees and pre retirees should be thinking about their

732
00:39:52,920 --> 00:39:55,719
Speaker 8: money after a monster market run like this.

733
00:39:56,040 --> 00:39:58,799
Speaker 7: One of the dangers of a prolonged ballmarket is that

734
00:39:58,880 --> 00:40:00,880
Speaker 7: it can quietly change behavior.

735
00:40:00,960 --> 00:40:05,080
Speaker 8: When markets are rising, risk doesn't feel the same.

736
00:40:04,880 --> 00:40:09,480
Speaker 7: Volatility fails, manageable draw downs feel temporary, and people start

737
00:40:09,520 --> 00:40:13,440
Speaker 7: assuming that whatever strategy they're using must be working perfectly.

738
00:40:13,640 --> 00:40:16,560
Speaker 8: But often what's really happening is that the market is

739
00:40:16,600 --> 00:40:19,160
Speaker 8: doing the heavy lifting, not the financial plan.

740
00:40:19,320 --> 00:40:22,840
Speaker 7: That distinction becomes very important when conditions change.

741
00:40:23,000 --> 00:40:25,360
Speaker 8: Another thing we try to remind people is that markets

742
00:40:25,400 --> 00:40:28,839
Speaker 8: don't have to crash to create challenges in retirement.

743
00:40:28,960 --> 00:40:31,640
Speaker 7: A lot of retirement plans don't fail because of a

744
00:40:31,680 --> 00:40:32,560
Speaker 7: single bad year.

745
00:40:32,760 --> 00:40:36,839
Speaker 8: They struggle during periods of lower or uneven returns.

746
00:40:37,040 --> 00:40:40,480
Speaker 7: Markets that go sideways, markets that bounce up and down,

747
00:40:40,640 --> 00:40:44,360
Speaker 7: markets that recover but more slowly than people expect.

748
00:40:44,000 --> 00:40:47,840
Speaker 8: After several strong years. Many portfolios are now built with

749
00:40:47,960 --> 00:40:51,040
Speaker 8: expectations that may not hold up going forward.

750
00:40:51,120 --> 00:40:54,440
Speaker 7: This is especially relevant for people who are within five

751
00:40:54,520 --> 00:40:57,400
Speaker 7: to ten years of retirement or already retired.

752
00:40:57,480 --> 00:41:00,800
Speaker 8: When you're no longer contributing to your portfolio and instead

753
00:41:01,239 --> 00:41:04,439
Speaker 8: relying on it for income, the margin for error gets

754
00:41:04,480 --> 00:41:05,480
Speaker 8: a lot smaller.

755
00:41:05,520 --> 00:41:08,319
Speaker 7: You don't just need growth, you need reliability, and you

756
00:41:08,400 --> 00:41:13,399
Speaker 7: need flexibility because retirement rarely unfolds as planned. Let's come

757
00:41:13,440 --> 00:41:16,200
Speaker 7: back to Tom and Linda, the couple we mentioned earlier.

758
00:41:16,320 --> 00:41:19,400
Speaker 8: They had done a great job saving strong market performance

759
00:41:19,440 --> 00:41:22,279
Speaker 8: over the last few years had pushed their account balances

760
00:41:22,480 --> 00:41:25,440
Speaker 8: to levels that they had not originally expected.

761
00:41:25,560 --> 00:41:27,600
Speaker 1: On paper, everything looked great, but when.

762
00:41:27,480 --> 00:41:30,600
Speaker 8: We stress test their plan, we found that a prolonged

763
00:41:30,680 --> 00:41:35,160
Speaker 8: market slowdown early in retirement would put pressure on their

764
00:41:35,160 --> 00:41:36,440
Speaker 8: income strategy, and.

765
00:41:36,440 --> 00:41:39,760
Speaker 7: Not because they were reckless, but because their portfolio assumed

766
00:41:40,080 --> 00:41:41,560
Speaker 7: continued strong returns.

767
00:41:41,760 --> 00:41:45,320
Speaker 8: That's a very common situation after a bull market.

768
00:41:45,480 --> 00:41:47,520
Speaker 7: One of the first things we discussed with Tom and

769
00:41:47,600 --> 00:41:49,520
Speaker 7: Linda was rebalancing.

770
00:41:48,880 --> 00:41:51,520
Speaker 8: And rebalancing often gets misunderstood.

771
00:41:51,640 --> 00:41:55,160
Speaker 7: It's not about predicting a downturn or being pessimistic about

772
00:41:55,160 --> 00:41:55,680
Speaker 7: the future.

773
00:41:55,840 --> 00:42:00,080
Speaker 8: It's about realigning your portfolio with your goals, your timeline,

774
00:42:00,200 --> 00:42:05,800
Speaker 8: and your tolerance for volatility. Individual needs and circumstances will

775
00:42:05,840 --> 00:42:06,720
Speaker 8: always vary.

776
00:42:06,840 --> 00:42:11,760
Speaker 7: After strong markets, many portfolios quietly become more aggressive than intended.

777
00:42:11,960 --> 00:42:16,960
Speaker 8: Addressing that before a pullback gives retirees more control.

778
00:42:17,160 --> 00:42:19,600
Speaker 7: This leads us to one of the most important concepts

779
00:42:19,600 --> 00:42:22,880
Speaker 7: in retirement planning, sequence of returns risk.

780
00:42:23,120 --> 00:42:26,520
Speaker 8: This is the risk that the order of returns matters

781
00:42:26,560 --> 00:42:29,000
Speaker 8: more than the average return.

782
00:42:28,719 --> 00:42:32,120
Speaker 7: To Retirees can earn the same long term return, but

783
00:42:32,200 --> 00:42:36,160
Speaker 7: the one who experiences losses early while taking withdrawals can

784
00:42:36,239 --> 00:42:37,320
Speaker 7: run out of money sooner.

785
00:42:37,440 --> 00:42:42,200
Speaker 8: That's why strong markets are a valuable time to plan defensively.

786
00:42:42,480 --> 00:42:46,239
Speaker 7: Not defensively as in hide from the market, but defensively

787
00:42:46,320 --> 00:42:48,600
Speaker 7: as in don't rely on perfect timing.

788
00:42:48,760 --> 00:42:53,760
Speaker 8: One strategy we oftentimes discuss is separating short term income

789
00:42:53,840 --> 00:42:56,759
Speaker 8: needs from long term growth assets.

790
00:42:56,920 --> 00:43:00,440
Speaker 7: That way, if the market does experience a slowdown or holdback,

791
00:43:00,760 --> 00:43:03,640
Speaker 7: retirees aren't forced to sell investments at the wrong time.

792
00:43:03,800 --> 00:43:07,680
Speaker 7: It creates breathing road It also reduces emotional decision making,

793
00:43:07,840 --> 00:43:10,360
Speaker 7: which is one of the biggest threats to long term success.

794
00:43:10,600 --> 00:43:14,920
Speaker 8: Another issue that often gets overlooked during bull markets is.

795
00:43:15,280 --> 00:43:20,040
Speaker 7: Taxes, rising balances, and tax deferred accounts can't create significant

796
00:43:20,080 --> 00:43:22,120
Speaker 7: tax challenges later in retirement.

797
00:43:22,280 --> 00:43:27,520
Speaker 8: Larger required distributions can push retirees into higher tax brackets

798
00:43:27,800 --> 00:43:30,160
Speaker 8: and increased Medicare related costs.

799
00:43:30,320 --> 00:43:33,960
Speaker 7: Strong markets can be an opportunity to evaluate tax diversification

800
00:43:34,280 --> 00:43:36,480
Speaker 7: and long term distribution planning.

801
00:43:36,280 --> 00:43:40,799
Speaker 8: Because once required distributions begin, flexibility decreases.

802
00:43:41,000 --> 00:43:44,680
Speaker 7: We're often asked directly, our market's overheated right now.

803
00:43:44,840 --> 00:43:49,000
Speaker 8: The honest answer is that markets are clearly priced for optimism.

804
00:43:49,160 --> 00:43:51,520
Speaker 1: That doesn't mean a downturn is imminent, but it.

805
00:43:51,480 --> 00:43:54,520
Speaker 8: Doesn't mean that future returns may be more muted or

806
00:43:54,960 --> 00:43:58,239
Speaker 8: volatile than what we've recently experienced.

807
00:43:58,480 --> 00:44:01,360
Speaker 1: Planning based on that assumtion is simply prudent.

808
00:44:01,480 --> 00:44:04,760
Speaker 8: The most confident retirees we work with are not trying

809
00:44:04,800 --> 00:44:05,760
Speaker 8: to time the market.

810
00:44:05,920 --> 00:44:09,800
Speaker 7: They're focused on whether the plan works across different scenarios.

811
00:44:09,400 --> 00:44:12,760
Speaker 8: Up markets, down markets, and everything in between.

812
00:44:12,960 --> 00:44:16,120
Speaker 7: That confidence allows them to enjoy time with family, like

813
00:44:16,160 --> 00:44:20,040
Speaker 7: the holidays we just celebrated without worrying about daily market headlines.

814
00:44:20,120 --> 00:44:22,800
Speaker 8: As we close out the year, this is a great

815
00:44:22,840 --> 00:44:27,680
Speaker 8: time to reflect not just on market performance, but on preparedness.

816
00:44:27,840 --> 00:44:30,560
Speaker 7: Strong markets can be a gift if they're used wisely.

817
00:44:30,640 --> 00:44:33,840
Speaker 8: They give you a chance to reduce risk, strengthen income planning,

818
00:44:33,920 --> 00:44:37,200
Speaker 8: and address issues before they become problems.

819
00:44:37,400 --> 00:44:41,320
Speaker 7: If today's discussion raised questions about your portfolio, your retirement

820
00:44:41,320 --> 00:44:43,919
Speaker 7: income strategy, or how prepare you are for the next

821
00:44:43,960 --> 00:44:45,239
Speaker 7: phase of the market.

822
00:44:45,000 --> 00:44:46,920
Speaker 8: We invite you to call our office.

823
00:44:47,000 --> 00:44:50,000
Speaker 7: You can also request our Safe Money Strategies workbook, which

824
00:44:50,040 --> 00:44:52,800
Speaker 7: outlines many of the principles we talk about each week.

825
00:44:52,880 --> 00:44:56,760
Speaker 8: It's designed to help you approach retirement with greater clarity

826
00:44:57,080 --> 00:44:58,000
Speaker 8: and confidence.

827
00:44:58,160 --> 00:45:00,359
Speaker 1: Thanks for spending part of your Saturday with us.

828
00:45:00,400 --> 00:45:03,200
Speaker 8: We hope you had a wonderful holiday season. Can we

829
00:45:03,239 --> 00:45:07,080
Speaker 8: wish you and your family a happy, healthy New Year.

830
00:45:07,200 --> 00:45:09,799
Speaker 7: This has been Safe Money Strategies. We'll see you next week.

831
00:45:15,000 --> 00:45:18,360
Speaker 7: Hi everyone, this is William Kelly. If you've ever wished you'd.

832
00:45:18,239 --> 00:45:21,239
Speaker 2: Learned about money sooner, that's why I wrote Only the

833
00:45:21,239 --> 00:45:25,280
Speaker 2: Good invest You, a simple, encouraging guide with real world

834
00:45:25,280 --> 00:45:26,760
Speaker 2: steps anyone can follow.

835
00:45:27,560 --> 00:45:28,960
Speaker 1: I kept seeing the same.

836
00:45:28,760 --> 00:45:32,480
Speaker 2: Thing people wishing someone had explained the basics earlier. How

837
00:45:32,520 --> 00:45:36,880
Speaker 2: to save, build good habits, avoid costly mistakes, and create

838
00:45:36,960 --> 00:45:39,000
Speaker 2: momentum even when you're starting small.

839
00:45:39,560 --> 00:45:41,280
Speaker 1: Whether you're eighteen or eighty.

840
00:45:41,480 --> 00:45:45,719
Speaker 2: This book is about confidence, clarity, and taking action. For

841
00:45:45,760 --> 00:45:49,640
Speaker 2: our listeners, we're sending out complimentary copies. Just called eight

842
00:45:49,640 --> 00:45:52,920
Speaker 2: eight eight eight hundred twenty one or email Kelly at

843
00:45:52,960 --> 00:45:55,040
Speaker 2: Kellyfinancial dot org and we'll send.

844
00:45:54,880 --> 00:45:56,360
Speaker 1: You one at no charge.

845
00:45:56,480 --> 00:45:58,920
Speaker 2: You can also purchase a softcover on Amazon or an

846
00:45:58,960 --> 00:46:01,719
Speaker 2: ebook on Kendle. I'm William Kelly, and I hope this

847
00:46:01,760 --> 00:46:03,920
Speaker 2: book helps someone you love take their first step.

848
00:46:05,800 --> 00:46:10,160
Speaker 6: Joining us now as she always does at this time.

849
00:46:10,640 --> 00:46:15,360
Speaker 6: She is the co founder, CEO, and president of Kelly

850
00:46:15,480 --> 00:46:20,279
Speaker 6: Financial Services, and yes, that is her wonderful.

851
00:46:19,840 --> 00:46:25,320
Speaker 8: Name, Kelly Kelly Kelly, How are.

852
00:46:25,719 --> 00:46:29,000
Speaker 5: You Good morning, Jeff, I am good.

853
00:46:29,440 --> 00:46:33,520
Speaker 4: As we look ahead to a new year, many retirees

854
00:46:33,640 --> 00:46:38,480
Speaker 4: are feeling real pressure from rising health care costs, everything

855
00:46:38,600 --> 00:46:42,879
Speaker 4: from premiums to prescriptions, and for a lot of families,

856
00:46:43,040 --> 00:46:47,040
Speaker 4: that uncertainty can make retirement feel a little less secure.

857
00:46:47,440 --> 00:46:50,719
Speaker 4: But here's what I want people to remember. You are

858
00:46:50,880 --> 00:46:52,040
Speaker 4: not powerless.

859
00:46:52,280 --> 00:46:53,080
Speaker 8: With the right.

860
00:46:53,000 --> 00:46:58,000
Speaker 4: Planning, you can protect both your health and your financial wellbeing.

861
00:46:58,400 --> 00:47:02,640
Speaker 4: That's why we put together our investor guide. Don't let

862
00:47:02,719 --> 00:47:08,080
Speaker 4: healthcare expenses derail your retirement. It's a clear, easy to

863
00:47:08,280 --> 00:47:13,359
Speaker 4: understand resource that helps you prepare from Medicare changes, long

864
00:47:13,480 --> 00:47:17,920
Speaker 4: term care expenses, and the rising cost of everyday health

865
00:47:18,000 --> 00:47:22,120
Speaker 4: needs as you plan for twenty twenty six. Now is

866
00:47:22,160 --> 00:47:26,879
Speaker 4: a great time to make your healthcare strategy stronger, more informed,

867
00:47:27,200 --> 00:47:31,719
Speaker 4: and more confident. To request your complementary copy, give us

868
00:47:31,760 --> 00:47:36,400
Speaker 4: a call or email Kelly at Kellyfinancial dot org. Jeff,

869
00:47:36,560 --> 00:47:40,520
Speaker 4: Happy New Year to you and your family and all

870
00:47:40,560 --> 00:47:41,759
Speaker 4: of Kuner Country.

871
00:47:42,120 --> 00:47:44,920
Speaker 6: Thank you, Kelly, all the best to you and everyone

872
00:47:45,000 --> 00:47:48,680
Speaker 6: at Kelly Financial. To get a free copy of that guide,

873
00:47:48,680 --> 00:47:50,440
Speaker 6: and I urge all of you if you can do

874
00:47:50,560 --> 00:47:54,920
Speaker 6: get it call now eight eighty eight eight hundred eighteen

875
00:47:55,080 --> 00:47:58,680
Speaker 6: eighty one eight eighty eight eight hundred eighteen eighty one,

876
00:47:59,360 --> 00:48:04,440
Speaker 6: or you can actually email Kelly herself personally Kelly Kelly

877
00:48:04,600 --> 00:48:10,040
Speaker 6: Financial dot org. That's Kelly Kelly Financial dot org.

878
00:48:16,160 --> 00:48:21,520
Speaker 3: Safe Money Strategies A eight eight hundred one eight eight one.

879
00:48:21,960 --> 00:48:24,880
Speaker 4: As we close out the year and begin thinking about

880
00:48:24,920 --> 00:48:29,200
Speaker 4: the one ahead, trust and priorities really come into focus.

881
00:48:29,920 --> 00:48:33,480
Speaker 4: It's a good time to reflect on what matters most

882
00:48:33,960 --> 00:48:36,440
Speaker 4: and who you want on your team as you.

883
00:48:36,480 --> 00:48:41,359
Speaker 5: Plan for the future. With that in mind, here's Bill Kelly.

884
00:48:43,520 --> 00:48:45,200
Speaker 10: As we approach the start of the new year.

885
00:48:45,560 --> 00:48:46,719
Speaker 1: Who do you trust well?

886
00:48:46,760 --> 00:48:49,680
Speaker 10: You trust your partner, you trust your husband, you trust

887
00:48:49,760 --> 00:48:53,719
Speaker 10: your wife, You probably trust your children. Back in our day,

888
00:48:53,760 --> 00:48:57,160
Speaker 10: the banker was the same man year after year. The

889
00:48:57,239 --> 00:49:01,480
Speaker 10: bank was Hospital Trust. The man's name mister Finnity, and

890
00:49:01,600 --> 00:49:04,040
Speaker 10: I knew him from when I was a small child

891
00:49:04,200 --> 00:49:07,920
Speaker 10: until I was in the Air Force a technology institute

892
00:49:07,960 --> 00:49:11,480
Speaker 10: out in Denver in my twenties, I still knew who

893
00:49:11,520 --> 00:49:14,720
Speaker 10: to call at Hospital Trust Bank. His name was mister

894
00:49:14,760 --> 00:49:18,319
Speaker 10: Finnity and he was the vice president then when I

895
00:49:18,400 --> 00:49:21,080
Speaker 10: first knew him when I was five years old, and

896
00:49:21,239 --> 00:49:23,879
Speaker 10: he helped our family, and he was a great man

897
00:49:24,000 --> 00:49:28,640
Speaker 10: in my opinion. But back then bankers did banking. The

898
00:49:28,640 --> 00:49:32,160
Speaker 10: insurance man came to the house, he did our insurance.

899
00:49:32,800 --> 00:49:35,359
Speaker 10: And if we walked down onto Bellevue Avenue, we could

900
00:49:35,400 --> 00:49:39,200
Speaker 10: walk into a real, live stockbroker's office and we could

901
00:49:39,200 --> 00:49:42,400
Speaker 10: sit on the bench with very wealthy men and women,

902
00:49:42,680 --> 00:49:44,920
Speaker 10: and we could watch a real ticker tape. How did

903
00:49:44,960 --> 00:49:47,640
Speaker 10: that work? It was a paper punch tape that went

904
00:49:47,719 --> 00:49:51,560
Speaker 10: through a machine that shined light from behind it and

905
00:49:51,640 --> 00:49:54,240
Speaker 10: broadcast the ticker tape on the wall on a screen

906
00:49:55,120 --> 00:49:58,960
Speaker 10: It was a true ticker tape. Those three people, the

907
00:49:59,000 --> 00:50:02,840
Speaker 10: insurance man, the banker whom we don't know now. We

908
00:50:02,840 --> 00:50:04,600
Speaker 10: don't even know what the name of our bank's going

909
00:50:04,640 --> 00:50:07,520
Speaker 10: to be in the morning, never mind having the same

910
00:50:07,560 --> 00:50:11,760
Speaker 10: banker and the stockbroker now are basically the same person.

911
00:50:12,360 --> 00:50:15,399
Speaker 10: Because everyone wanted to get in on the act. In

912
00:50:15,400 --> 00:50:17,719
Speaker 10: my town, there used to be a store where you

913
00:50:17,760 --> 00:50:21,360
Speaker 10: would bring a television tuner. It was a dial that

914
00:50:21,480 --> 00:50:24,080
Speaker 10: you turned on the television to change the station. We

915
00:50:24,160 --> 00:50:27,480
Speaker 10: used to call him and there was a man his

916
00:50:27,640 --> 00:50:31,439
Speaker 10: job was to fix those things, television tuners. We had

917
00:50:31,520 --> 00:50:35,879
Speaker 10: one television from age when I was three. I can

918
00:50:35,920 --> 00:50:39,960
Speaker 10: remember television at two. We had the same television till

919
00:50:40,000 --> 00:50:44,919
Speaker 10: I was almost ten, Black Zenith. It was huge, ladies

920
00:50:44,960 --> 00:50:50,040
Speaker 10: and gentlemen. We had the same television repairman. He would

921
00:50:50,080 --> 00:50:52,680
Speaker 10: come in. He had a truck and he would bring

922
00:50:52,680 --> 00:50:56,399
Speaker 10: a machine in, test the tubes, change the tubes, put

923
00:50:56,440 --> 00:50:59,640
Speaker 10: the back on the TV, and out he would go.

924
00:51:00,640 --> 00:51:04,560
Speaker 10: We get our second TV in nineteen sixty one, and

925
00:51:04,640 --> 00:51:07,520
Speaker 10: I think the next television we got was nineteen sixty five.

926
00:51:08,239 --> 00:51:12,759
Speaker 10: It was a Sears color TV Hallelujah. It sat in

927
00:51:12,840 --> 00:51:16,719
Speaker 10: a giant console. It looked beautiful and we could watch

928
00:51:16,760 --> 00:51:20,759
Speaker 10: Bonanza in color. But all through those years we had

929
00:51:20,760 --> 00:51:24,640
Speaker 10: the same television repair man and it was fourteen dollars

930
00:51:24,719 --> 00:51:29,719
Speaker 10: a year, and that TV was fixed whenever it was broken.

931
00:51:30,080 --> 00:51:31,839
Speaker 10: And the worst days were when they had to take

932
00:51:31,880 --> 00:51:35,399
Speaker 10: that thing back to the shop. Heaven only knew when

933
00:51:35,400 --> 00:51:38,120
Speaker 10: you were going to get that TV back. So we

934
00:51:38,120 --> 00:51:41,880
Speaker 10: had the same person doing that. We had the same

935
00:51:42,040 --> 00:51:45,920
Speaker 10: toaster my whole life, the same toaster, ladies and gentlemen.

936
00:51:46,800 --> 00:51:49,560
Speaker 10: We had a a mixer that was the same mixer

937
00:51:49,640 --> 00:51:52,320
Speaker 10: from when I was a child to when I left

938
00:51:52,440 --> 00:51:57,239
Speaker 10: for the service. Things didn't change much. Same teapot my

939
00:51:57,440 --> 00:52:00,560
Speaker 10: entire life until I was fifty. When I went to

940
00:52:00,600 --> 00:52:05,360
Speaker 10: my folks house, the teapot would be there. So things

941
00:52:05,600 --> 00:52:08,400
Speaker 10: are much different now. We had probably had three different

942
00:52:08,480 --> 00:52:13,319
Speaker 10: vacuums my entire life. Now they come and go. It's

943
00:52:13,360 --> 00:52:18,040
Speaker 10: amazing what happens. It's a throwaway society. Trying to get

944
00:52:18,040 --> 00:52:22,680
Speaker 10: a hold of people. Contact is vital. It's difficult, so

945
00:52:22,760 --> 00:52:26,200
Speaker 10: you have to be careful. You have to be careful

946
00:52:26,320 --> 00:52:28,600
Speaker 10: and you have to find out what's important to you.

947
00:52:29,480 --> 00:52:32,440
Speaker 10: What's important to you about having enough money, Ladies, and gentlemen,

948
00:52:32,680 --> 00:52:35,480
Speaker 10: what's important to you about not having to be a

949
00:52:35,520 --> 00:52:40,040
Speaker 10: dependent on the state. What's important to you about being

950
00:52:40,080 --> 00:52:45,120
Speaker 10: able to leave a lasting legacy for your children. My

951
00:52:45,239 --> 00:52:49,000
Speaker 10: son we read a book every day at night. It's

952
00:52:49,040 --> 00:52:53,279
Speaker 10: called Mike Mulligan and his Steam Shovel, and Mike Mulligan's

953
00:52:53,320 --> 00:52:56,000
Speaker 10: steam shovel was named Marianne.

954
00:52:56,040 --> 00:52:56,600
Speaker 1: Believe it or not.

955
00:52:56,680 --> 00:52:59,960
Speaker 10: The book is from the thirties. It's a very short book.

956
00:53:00,239 --> 00:53:03,320
Speaker 10: But Mike Mulligan and Marianne would travel around the country

957
00:53:04,000 --> 00:53:07,960
Speaker 10: and they would dig highways and canals, basements of buildings

958
00:53:07,960 --> 00:53:12,440
Speaker 10: and things like that. But when people watched them. The

959
00:53:12,560 --> 00:53:15,400
Speaker 10: one thing about Mike Mulligan and Marianne, if people gathered

960
00:53:15,440 --> 00:53:18,440
Speaker 10: around to watch them work, they'd work a little faster

961
00:53:19,040 --> 00:53:22,440
Speaker 10: and a little better. And I think that's true about

962
00:53:22,480 --> 00:53:26,799
Speaker 10: anyone in any industry. If you're monitoring what's happening, then

963
00:53:26,840 --> 00:53:30,120
Speaker 10: things might happen a little better and a little faster

964
00:53:30,239 --> 00:53:34,160
Speaker 10: for you if you can do that. So your needs

965
00:53:34,239 --> 00:53:37,680
Speaker 10: are important. They have to be identified, and your goals

966
00:53:38,160 --> 00:53:41,040
Speaker 10: have to be identified, and you start from there.

967
00:53:41,800 --> 00:53:44,000
Speaker 1: If you want a home, do.

968
00:53:43,960 --> 00:53:45,880
Speaker 10: You ever start out to say, well, what kind of

969
00:53:45,880 --> 00:53:50,279
Speaker 10: furnace do we want, honey, No, you say what neighborhood

970
00:53:50,400 --> 00:53:53,040
Speaker 10: is the one in which we want to live. That's

971
00:53:53,040 --> 00:53:56,120
Speaker 10: how you begin. The furnace is about the twentieth thing

972
00:53:56,320 --> 00:54:02,160
Speaker 10: on the list. So identifying needs and goals through an

973
00:54:02,200 --> 00:54:07,680
Speaker 10: interactive process or how solutions are created for you, and

974
00:54:07,719 --> 00:54:10,640
Speaker 10: that's important in anything you do. I had a couple

975
00:54:10,680 --> 00:54:12,480
Speaker 10: in my office. They're getting ready to buy a home

976
00:54:12,520 --> 00:54:15,640
Speaker 10: in Florida, and I said, I want to be part

977
00:54:15,680 --> 00:54:18,440
Speaker 10: of that purchase. I want to be able to help

978
00:54:18,480 --> 00:54:21,920
Speaker 10: you to construct your offer. And they were very relieved

979
00:54:22,120 --> 00:54:25,400
Speaker 10: when I said that. They hadn't even imagined to ask me.

980
00:54:25,640 --> 00:54:28,200
Speaker 10: But I was happy to do it because I think

981
00:54:28,680 --> 00:54:33,080
Speaker 10: people need someone on their team, especially as you get

982
00:54:33,120 --> 00:54:36,520
Speaker 10: closer to retirement. You want to make sure that your

983
00:54:36,560 --> 00:54:40,799
Speaker 10: goals don't conflict with someone else's and if they do,

984
00:54:41,960 --> 00:54:44,560
Speaker 10: that can get in the way. Someone wants you in

985
00:54:44,640 --> 00:54:49,600
Speaker 10: a particular product, investment, or stock and it conflicts with

986
00:54:49,640 --> 00:54:51,920
Speaker 10: what you need to do. Then you have to be

987
00:54:51,960 --> 00:54:57,080
Speaker 10: aware of that. So it's conceptual. It's a solution based approach,

988
00:54:58,040 --> 00:55:02,919
Speaker 10: basically a safe mon any strategy for retirement. So you

989
00:55:02,960 --> 00:55:07,200
Speaker 10: have questions, you need to be introduced to the solutions

990
00:55:07,680 --> 00:55:10,919
Speaker 10: how is that done? Ladies and gentlemen with priorities, what's

991
00:55:10,960 --> 00:55:14,120
Speaker 10: important to you, and what must be important to you,

992
00:55:14,239 --> 00:55:18,280
Speaker 10: is to preserve your wealth. Risk is for one purpose only.

993
00:55:19,280 --> 00:55:21,760
Speaker 10: It's to get you a higher return than you would

994
00:55:21,760 --> 00:55:26,120
Speaker 10: receive if you had your money in treasury bills. That's

995
00:55:26,160 --> 00:55:29,839
Speaker 10: how risk works. So you want a premium for your risk.

996
00:55:29,920 --> 00:55:33,319
Speaker 10: You don't want to gamble to have the risk. So

997
00:55:33,360 --> 00:55:37,960
Speaker 10: that's how we have to manage risk. Unfortunately, some people,

998
00:55:38,520 --> 00:55:41,520
Speaker 10: the amount of money you have invested is not a

999
00:55:41,560 --> 00:55:46,000
Speaker 10: factor in risk tolerance. The ability to recover after a

1000
00:55:46,080 --> 00:55:49,080
Speaker 10: loss and have it not affect your lifestyle, to me,

1001
00:55:49,680 --> 00:55:53,839
Speaker 10: is primary in selecting what your risk tolerance is.

1002
00:55:54,760 --> 00:55:55,920
Speaker 1: And that's how we do that.

1003
00:55:56,440 --> 00:55:59,200
Speaker 10: And remember what Mike Mulligan and Marianne did when people

1004
00:55:59,200 --> 00:56:01,880
Speaker 10: were watching, and we do the same thing when people

1005
00:56:01,880 --> 00:56:05,400
Speaker 10: are listening. You work a little faster and a little better.

1006
00:56:06,000 --> 00:56:09,319
Speaker 10: I wish all of you are very happy and prosperous

1007
00:56:09,400 --> 00:56:09,799
Speaker 10: new year.

1008
00:56:25,200 --> 00:56:29,480
Speaker 3: We'll call Kelly Financial Services eight eight eight hundred, eighteen

1009
00:56:29,640 --> 00:56:30,239
Speaker 3: eighty one.

1010
00:56:30,480 --> 00:56:32,759
Speaker 5: I'm Kelly Kelly from Kelly Financial.

1011
00:56:32,960 --> 00:56:37,240
Speaker 4: Whether you're in your sixties, seventies, or eighties, financial advice

1012
00:56:37,400 --> 00:56:40,359
Speaker 4: is important when it comes to preserving your nest egg.

1013
00:56:40,480 --> 00:56:43,920
Speaker 4: We have a free investor guide called Designing your Fiscal

1014
00:56:44,000 --> 00:56:47,680
Speaker 4: House to Weather the Elements, which highlights the steps needed

1015
00:56:47,680 --> 00:56:51,279
Speaker 4: to build a balanced portfolio. For the guide, call eight

1016
00:56:51,320 --> 00:56:54,880
Speaker 4: eight eight eight hundred eighteen eighty one or email Kelly

1017
00:56:54,960 --> 00:56:57,000
Speaker 4: at Kellyfinancial dot org.

1018
00:56:57,239 --> 00:56:58,560
Speaker 5: We're Kelly Financial.

1019
00:56:58,800 --> 00:57:03,600
Speaker 3: Come retire with that, Save money strategies with William Kelly

1020
00:57:03,880 --> 00:57:07,479
Speaker 3: and Kelly Kelly. Go to Kelly Financial dot org.