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Speaker 1: This is coming to us, so.

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

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

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

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Speaker 1: 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, turn 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 eight hundred million dollars across our affiliated business,

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

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

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

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

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

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

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

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

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

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

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Speaker 2: visit Kelly Financial dot org or call us at eighty

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Speaker 2: eight eight eight hundred one eight eight one.

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Speaker 1: This is Safe Money Strategies.

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

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Speaker 2: Kelly Junior.

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Speaker 3: Safe Money Strategies with William Kelly and Kelly Kelly eight

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Speaker 3: eight hundred eighteen eighty one.

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

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

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

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

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

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

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

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Speaker 4: most when you're planning for the future. Sometimes is light,

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Speaker 4: sometimes is thoughtful, but is always real.

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Speaker 5: Good morning, William. How are you.

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Speaker 1: I'm good, Mom. How are you.

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Speaker 6: I'm doing great.

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Speaker 2: It's great to hear. There have been plenty of midterms

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Speaker 2: this week. Yeah, school, Yes, so I just had an

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Speaker 2: econ midterm, as many of you know, had some essays

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Speaker 2: I had to submit to had a business class midterm,

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Speaker 2: and I have to say that was very light, and

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Speaker 2: I think everybody did really well in it.

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Speaker 6: Good.

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Speaker 2: I do very few people who struggled from that exam,

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Speaker 2: So I love those kinds of exams.

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Speaker 1: The ones that are a little easier, so lightens the

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Speaker 1: loan a little bit. True. I'll have to see what's

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Speaker 1: coming up next.

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Speaker 2: I'm sure i'll have one for political science, and probably

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Speaker 2: I do have one for history coming up, and so

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Speaker 2: I'll be ready and prepared for those.

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Speaker 1: So I'm excited. Yeah.

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Speaker 3: Good.

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Speaker 1: Tell me about what's going on in your life.

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Speaker 4: Well, I've been working hard. I have been babysitting. You've

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Speaker 4: been Mallie, yeahbysitting Mellie.

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Speaker 1: Yes.

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Speaker 4: Mary Madlin's a little dog, little puppy, and she's been

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Speaker 4: a good girl.

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Speaker 5: I have been working out with missus.

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Speaker 2: Oh.

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Speaker 5: Good, and that has been going.

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Speaker 6: Well, you've been.

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Speaker 2: Complaining all week. I don't think I've heard a single

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Speaker 2: nice thing. Well, are you only nice things about her?

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Speaker 2: About I don't think i've heard a single good thing.

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Speaker 6: Well, I haven't seen you.

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Speaker 5: I haven't seen you since last.

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Speaker 4: Weekend, so so it's improved since then. They're definitely ups

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Speaker 4: and downs with this, you know. I feel like I, I,

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Speaker 4: you know, have it going on and then.

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Speaker 1: All of a sudden you feel a little bit defeated.

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Speaker 4: Oh yeah, and then you pick yourself up and just

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Speaker 4: keep going.

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Speaker 1: That's right, you know.

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Speaker 4: But it is quite a challenge getting enough protein really,

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Speaker 4: watching the macros, you know, really just.

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Speaker 2: More challenging the food or the exercise both. Really, egally,

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Speaker 2: that's incredible. So working hard in the gym is just

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Speaker 2: as challenging as eating.

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Speaker 4: Getting I don't know, well, I felt like the eating

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Speaker 4: part was going.

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Speaker 1: Well, I don't.

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Speaker 2: Blame you, because eating is very hard for me when

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Speaker 2: I because I have to eat a lot of protein,

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Speaker 2: so I understand that.

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Speaker 4: Yeah. Well, I was tracking everything, and finally she said,

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Speaker 4: you need to write this down, and I don't like

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Speaker 4: to write.

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Speaker 6: I'd rather just add it into my phone, you know.

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Speaker 4: It's easier, so so I stopped. She said, I think

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Speaker 4: you're missing a few things. So yes, and I think

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Speaker 4: I wasn't really tracking the half and half of my

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Speaker 4: coffee that well, I was a little more than I thought,

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Speaker 4: so I was weighing. I started weighing everything out, measuring it,

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Speaker 4: you know, even the avocado mayo, you know, anything, And

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Speaker 4: so I guess sometimes the little things add.

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Speaker 6: Up, right.

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Speaker 4: But she had noticed that I wasn't getting quite enough protein, protein,

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Speaker 4: and you know, not quite enough fat. And I felt

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Speaker 4: like maybe I'm getting too many carbs, and she's like, no, no,

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Speaker 4: So so I'm sticking with it. But that machine that

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Speaker 4: we get on is crazy. Tell our listeners what it is.

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Speaker 2: It is good for accurate tracing of a trend over time.

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Speaker 2: So if you're trying to see if your muscle mass

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Speaker 2: goes up or down, I will say it's accurate within reason.

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Speaker 2: The only time it will be inaccurate is if you're

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Speaker 2: standing on it and you have to put your hands

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Speaker 2: on these two poles, I guess, and you have to

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Speaker 2: lift up your arms so that nothing is touching the

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Speaker 2: side of your body, so it's almost like you're doing

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Speaker 2: a t pose and you stand on the scale and

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Speaker 2: there's a screen in front of you that's attaching these

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Speaker 2: two poles and basically it sends an electric current throughout

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Speaker 2: your body, and the machine is able to detect different

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Speaker 2: types of mass, your lean body mass, your muscle mass,

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Speaker 2: your skeletal mass, how much fat you have, your hydration level,

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Speaker 2: and obviously you're a weight because there's a scale right

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Speaker 2: below you, and it basically will sends an electric current

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Speaker 2: and how the electric current returns to the other side

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Speaker 2: of the circuit. It can determine these things based on

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Speaker 2: off of that how it's changed.

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Speaker 1: It's not that accurate.

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Speaker 2: Actually, people have used in body scans and they did

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Speaker 2: a test to see how accurate embody is in compared

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Speaker 2: to decks.

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Speaker 1: Dex is a literal X.

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Speaker 2: Right, you sit on a table and it's sort of

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Speaker 2: like an MRI machine, but not really lay down and

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Speaker 2: you're perfectly straight, your arms are on your side, and

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Speaker 2: the scanner X rays your body from top to bottom

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Speaker 2: for about two minutes. It goes down really slowly. Deck

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Speaker 2: scans are extremely accurate. They're the most accurate, and so

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Speaker 2: that is way better. And they found that the embody

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Speaker 2: will tell people you have eighteen percent body fat and

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Speaker 2: then they do the deck scan and they find out

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Speaker 2: it's twenty four percent.

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Speaker 1: There's a lot of margin for air.

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Speaker 2: Sometimes it's super accurate, the embody gets it just right

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Speaker 2: or really close, and sometimes not at all. The best

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Speaker 2: thing you can do is go to a deck scan

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Speaker 2: and they're really humbling, though you might get the real data.

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Speaker 1: And you know, not be too happy with it. One.

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Speaker 6: I've had one, Okay, that's what I thought.

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Speaker 2: I had it a while ago. It was worth it.

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Speaker 2: It definitely gave me a good baseline. It gave me

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Speaker 2: a lot of great information. It told me a lot

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Speaker 2: about my body, and you know what I need to

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Speaker 2: look out for, not just to dump on embodies at all.

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Speaker 2: They're good machines, but they're not perfectly accurate, and they're

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Speaker 2: really used as like a guide maybe.

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Speaker 1: Yes, and to determine trends.

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Speaker 2: So if you are gaining muscle mass, the embody, we'll

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Speaker 2: read that.

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Speaker 4: Okay, it is accurate on your weight absolutely, Okay, absolutely,

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Speaker 4: because she told me stop weighing at home.

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Speaker 1: Yeah, as I would. Our skills kill, Our skill is awful.

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Speaker 1: Our skill.

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Speaker 2: When I was a wrestler, I would think that I

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Speaker 2: was three pounds overweight. I go to school, I'd be

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Speaker 2: two pounds underweight. That is the worst scale ever made.

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Speaker 2: I don't know where we bought it. I don't know

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Speaker 2: who calibrated it. I have no idea. I bought a

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Speaker 2: shipping scale because it's like perfectly calibrated.

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Speaker 1: Yeah off Amazon.

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Speaker 6: Yeah.

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Speaker 1: And so whenever I need to weigh myself and when

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Speaker 1: I'm here, I just use that.

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Speaker 2: I don't even where is it. It's under the table

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Speaker 2: with the painting in the dining room. It's under that.

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Speaker 2: Oh that like stand with all of the photos when

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Speaker 2: you were a cheerleader my baseball, you and your family,

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Speaker 2: you know, Mimi, Poppy, Uncle Chip looks super happy in

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Speaker 2: that photo and you.

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Speaker 1: I think Dad when he was eleven, I think he's

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Speaker 1: on there.

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Speaker 2: I remember that photo pictures. That's a great photo. I

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Speaker 2: feel like Dad and I we looked kind of related.

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Speaker 2: We were both kids, but as you got older. Yeah,

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Speaker 2: it's like we were more. We looked alike a lot

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Speaker 2: more as he got older, which sounds strange, but it

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Speaker 2: is a kid. He kind of looked a little different,

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Speaker 2: if you get what I'm saying. I guess it was

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Speaker 2: the haircut. He had different hair than me.

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Speaker 4: Yeah you know, but yeah, funny, yeah, oh. Do keep

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Speaker 4: us on your dial. We've got a lot of great

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Speaker 4: content coming your way. Mike do Set and Greg Workman

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Speaker 4: will explain why the strategy that grows your money during

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Speaker 4: working years may need to change once retirement begins. Mary,

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Speaker 4: Madeline Kelly and Greg Murray will explore financial harmony, why

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Speaker 4: your money should work together. When William and I return,

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Speaker 4: we will talk about how retirees can protect their lifestyle

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Speaker 4: and income even as tax laws and policies continue to change.

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

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

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

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Speaker 4: Young thank you for listening, and William, thank you for

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Speaker 4: joining me. We'll be back with more great content. William,

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Speaker 4: I love you, Honey, I love you too.

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Speaker 7: All right, Boston, let's talk about your money. Washington just

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Speaker 7: passed what the President calls the one Big, Beautiful Bill,

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Speaker 7: and yes, there are significant tax changes in it. Lower

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Speaker 7: rates remain in place. There's a new deduction for Americans

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Speaker 7: over sixty five. Estate exemptions are expanding. That could mean

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Speaker 7: more of your hard earned money staying where it belongs

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Speaker 7: with you.

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Speaker 1: But here's the reality.

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Speaker 7: Even tax relief requires thoughtful planning. Some provisions may sunset

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Speaker 7: in the coming years. Healthcare eligibility rules are evolving. How

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Speaker 7: will all these changes apply to your retirement income? That's

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Speaker 7: why Kelly Financial created a new guide, Unlock your tax savings.

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Speaker 1: Call now to get your.

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Speaker 7: Copy eight eighty eight eight hundred and eighteen eighty one

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Speaker 7: or email Kelly at Kelly Financial dot org.

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Speaker 1: Kelly at Kelly Financial dot org. Welcome back to the show.

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Speaker 8: I'm Mike Dusaid, Chief operating Officer, and alongside me, as

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Speaker 8: always is Greg Workman, investment Advisor. We're glad you're spending

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Speaker 8: part of your weekend with us.

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Speaker 1: Greg.

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Speaker 8: Over the past several weeks, we've talked about retirement income,

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Speaker 8: the first five years of retirement, tax traps, a lot

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Speaker 8: of really important topics. But today I want to zoom

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Speaker 8: out and talk about something more foundational. Investing while you're

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Speaker 8: working and investing once you retire are actually two completely

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Speaker 8: different games.

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Speaker 9: They really are, Mike, and most people don't realize that

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Speaker 9: they spend thirty or forty years mastering the accumulation game,

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Speaker 9: but they never shift strategies when it's time to start

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Speaker 9: distributing exactly.

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Speaker 8: And if you don't recognize when the rules change, you

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Speaker 8: can make.

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Speaker 1: Some costly mistakes. So let's define terms.

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Speaker 8: When we talk about the accumulation phase, we're talking about

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Speaker 8: your working years. This is when you're contributing to your

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Speaker 8: four to oh one k IRA brokerage account, maybe even

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Speaker 8: a pension plan. You're earning income, you're adding money consistently.

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Speaker 8: The primary objective is simple grow the assets.

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Speaker 9: And during accumulation you have two powerful advantages that retirees

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Speaker 9: don't have. Time and contributions. If the market drops fifteen

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Speaker 9: or twenty percent, it's uncomfortable. Nobody likes seeing their balance

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Speaker 9: go down. But if you're still working, still learning, still

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Speaker 9: contributing every two weeks or so, you're actually buying shares

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Speaker 9: at lower prices.

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Speaker 8: That's such an important mindset shift during accumulation. Market downturns

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Speaker 8: aren't necessarily catastrophic. They can be opportunities. Let's walk through

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Speaker 8: a hypothetical example. Let's say we're working with a hypothetical client.

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Speaker 8: We'll call him David. He's fifty two years old, earning

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Speaker 8: a strong income, contributing the maximum to his four oh

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Speaker 8: one k he plans to retire.

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Speaker 1: At sixty five.

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Speaker 8: If the market pulls back fifteen percent this year, David

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Speaker 8: doesn't love it. He logs in and sees his balance down,

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Speaker 8: but he's not withdrawing money. In fact, he's adding to

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Speaker 8: it every pay period. So instead of selling, he's buying automatically.

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Speaker 9: That's dollar cost averaging at work. When prices are lower,

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Speaker 9: your fixed contributions purchase more shares over time. That can

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Speaker 9: smooth volatility and potentially enhance long term returns. David's biggest

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Speaker 9: asset now isn't even his retirement account. It's his ability

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Speaker 9: to earn income, his human capital. He is thirteen or

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Speaker 9: more years of earnings and contributions ahead of him.

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Speaker 8: And that earning power acts like a shock absorber. Is

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Speaker 8: another key concept during accumulation. Volatility is primarily emotional risk,

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Speaker 8: not structural risk. The biggest danger for David isn't the

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Speaker 8: market decline itself.

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Speaker 1: It's panic.

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Speaker 8: It's stopping contributions, it's selling at the bottom. Structurally, the

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Speaker 8: math still works for him. He has time to recover. Historically,

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Speaker 8: markets move in cycles over long periods. They've trind it upward.

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Speaker 8: Time is his ally exactly. Time allows compounding.

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Speaker 6: To do its job.

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Speaker 9: If you're thirty, forty, or even fifty years old, you

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Speaker 9: may have decades before you need to touch that money.

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Speaker 9: That changes how you should think about short term ups

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Speaker 9: and downs of the stock market.

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Speaker 8: And this is where we often explain the difference between

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Speaker 8: risk tolerance and risk capacity. David might say I hate

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Speaker 8: seeing my balance drop. That's risk tolerance, how you emotionally react.

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Speaker 8: But his risk capacity, his financial ability to withstand volatility,

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Speaker 8: is actually high because he's employed, he's contributing, he's not withdrawing,

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Speaker 8: he has a.

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Speaker 1: Long time horizon.

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Speaker 8: Those factors give him room to take on more growth

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Speaker 8: oriented investments, and that's.

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Speaker 9: Why accumulation portfolios often lean heavily towards equities or risk.

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Speaker 6: Growth is the objective.

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Speaker 9: You're not trying to create income at that stage. You're

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Speaker 9: building the base that will eventually generate income during your

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Speaker 9: retirement years.

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Speaker 8: And psychologically, accumulation is very straightforward. You measure progress by

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Speaker 8: the account balance. You log into your four oh one K,

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Speaker 8: and you think, is it up or down? Success is

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Speaker 8: defined by growth. But notice whatquestion you're not asking during accumulation,

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Speaker 8: How do I turn this into a paycheck? That question

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Speaker 8: really enters the conversation while you're still working.

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Speaker 9: And that's normal. During accumulation, your paycheck comes from your employer.

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Speaker 9: Your investments their secondary. They're long term, they're for the future.

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Speaker 8: But eventually that flips, and here's where the metaphor of

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Speaker 8: two different games really becomes powerful. Accumulation is like offense.

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Speaker 8: You're moving the ball down the field. You're taking calculated risks,

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Speaker 8: you're trying to score.

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Speaker 1: Points, grow the account. But you don't win.

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Speaker 8: Championships with offense alone. Eventually defense matters, and retirement the

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Speaker 8: distribution phase is a defensive game.

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Speaker 9: That's right, because once the paychecks stop, you no longer

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Speaker 9: have contributions offsetting volatility.

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Speaker 6: You're not buying more shares during downturns.

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Speaker 9: In fact, you may be selling shares to generate income,

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Speaker 9: and that's a completely different mathematical equation.

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Speaker 1: We see this mistake all the time.

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Speaker 8: Someone spends decades building a portfolio designed for growth.

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Speaker 1: They retire and nothing changes.

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Speaker 8: Same allocation, same mindset, same strategy, but the environment has changed.

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Speaker 8: They've moved from building wealth to relying on it. It's like

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Speaker 8: training your entire life to climb a mountain, but not

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Speaker 8: having a strategy for getting down.

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Speaker 6: Safely and climbing down is where injuries.

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Speaker 8: Happen exactly, so before we had to break, here's the

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Speaker 8: question every listener should ask themselves.

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Speaker 1: What game am I playing right now?

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Speaker 8: If you're thirty five in maxing out your four h

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Speaker 8: one K, you're clearly an accumulation. If you're sixty and

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Speaker 8: five years from retirement, you're approaching the transition zone.

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Speaker 1: And if you are.

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Speaker 8: Already retired, you are absolutely in a different game. Understanding

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Speaker 8: that distinction is the first step in building the right strategy.

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Speaker 8: When we come back, we're going to explain why the

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Speaker 8: distribution phase changes the rules, why the same twenty percent

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Speaker 8: market decline that barely phases David at fifty two could

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Speaker 8: seriously impact.

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Speaker 1: Someone who's sixty seven and income. Stay with us, we'll

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Speaker 1: be right back.

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

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

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

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

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

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

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Speaker 5: For the book.

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

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Speaker 4: email Kelly at Kellyfinancial dot org.

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

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

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Speaker 3: Mary Madeline Kelly.

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Speaker 10: Hello, this is Greg Murray, Senior vice president and Chief

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Speaker 10: Compliance Officer at Kelly Financial Services. Joining me today is

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Speaker 10: Mary madel Kelly, one of our wealth advisors. How are

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Speaker 10: you doing today.

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Speaker 11: I'm doing great and I'm very excited to be back

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Speaker 11: because I just returned from my trip to Japan, which

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Speaker 11: was absolutely incredible. The culture, the food, the history, it

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Speaker 11: was such a unique experience. One thing that really stood

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Speaker 11: out to me was how much the culture emphasizes harmony

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Speaker 11: and balance in everyday life.

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Speaker 10: That's interesting, and I know while you were in Japan,

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Speaker 10: I was over in Finland. Different cultures of course, but

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Speaker 10: in a lot of ways, both places share that appreciation

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Speaker 10: for simplicity, structure, and things working together smoothly.

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Speaker 11: Exactly in Japan, they even have a concept called wah,

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Speaker 11: which essentially means harmony, the idea that different elements should

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Speaker 11: work together in a balanced and respectful way. And it

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Speaker 11: actually got me thinking about financial planning because the best

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Speaker 11: financial plans work the exact same way.

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Speaker 10: That's a great comparison. When people think about their finances,

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Speaker 10: they often look at things individually, their investments, their retirement accounts,

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Speaker 10: maybe insurance or taxes, but they don't always think about

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Speaker 10: how all those pieces interact.

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Speaker 11: And when those pieces aren't coordinated, it can create friction.

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Speaker 11: Just like anything else in life. You might have a

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Speaker 11: great investment strategy, but if it isn't aligned with your

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Speaker 11: tax situation, your retirement income needs, or your risk tolerance,

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Speaker 11: things can feel disorganized.

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Speaker 10: And that's where the idea of financial harmony really comes

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Speaker 10: into play. A strong financial plan isn't just about having

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Speaker 10: the right investments. It's about making sure your investments, taxes,

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Speaker 10: income strategy, insurances, and estate planning all work together exactly.

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Speaker 11: Now. Think about retirement planning as an example. People often

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Speaker 11: focus heavily on building their retirement accounts, which is important,

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Speaker 11: but once retirement actually arrives, the question becomes how all

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Speaker 11: these resources work together to support your lifestyle.

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Speaker 10: You might have social security retirement accounts like iras or

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Speaker 10: four oh one ks, brokerage accounts, maybe even real estate income.

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Speaker 10: If those sources aren't coordinated, carefully, you could end up

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Speaker 10: paying more taxes than necessary or creating unnecessary stress.

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Speaker 11: Yes, and taxes are a great example of where harmony matters.

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Speaker 11: Investment decisions affect taxes, withdrawal strategy jees affect taxes. Even

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Speaker 11: the timing of income can affect medicare premiums or how

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Speaker 11: much of your social security.

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Speaker 10: Is taxed, and of course investing in false risk, including

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Speaker 10: the potential loss of principle. But thoughtful coordination can help

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Speaker 10: manage those risks more effectively.

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Speaker 11: Another piece of financial harmony is balancing growth and protection.

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Speaker 11: Some assets are designed for long term growth, while others

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Speaker 11: are there for stability or income. When those rules are

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Speaker 11: clearly defined, the overall plan tends to work much more smoothly.

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Speaker 10: Without that balance, people sometimes feel their money is pulling

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Speaker 10: them in different directions, growth in one area, risk in another,

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Speaker 10: uncertainty about income.

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Speaker 11: But when a plan is coordinated, it creates clarity. People

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Speaker 11: understand what each piece of their financial life is meant to.

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Speaker 10: Do, and that clarity often leads to something we talk

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Speaker 10: about a lot on the show.

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Speaker 1: Peace of Mind.

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Speaker 11: Yes, financial harmony doesn't just improve numbers on a spreadsheet,

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Speaker 11: It improves how people feel about their financial future. Instead

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Speaker 11: of worrying about whether they've missed something, they feel confident

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Speaker 11: that their plan is working as a system.

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Speaker 10: Another area where harmony matters is state planning. Investments, trust,

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Speaker 10: beneficiary designations, and insurance all need to align so that

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Speaker 10: assets transfers smoothly and according to your wishes.

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Speaker 11: And that's especially important because small misalignments can sometimes create

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Speaker 11: big consequences, things like outdated beneficiaries or accounts that don't

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Speaker 11: match the overall estate plan.

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Speaker 10: So when we talk about financial harmony, we're really talking

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Speaker 10: about coordination.

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Speaker 11: It's all about making sure all the moving parts investments, taxes, retirement, income,

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Speaker 11: risk management, and state planning support each other instead of

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Speaker 11: working at cross purposes.

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Speaker 10: And just like in Japanese culture, harmony doesn't happen by accident.

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Speaker 10: It requires intention and thoughtful design. That's a great way

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Speaker 10: to put it. Financial plans don't become harmonious automatically. They're

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Speaker 10: through careful planning and regular review. And of course, every

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Speaker 10: financial situation is unique, so those strategies should always be

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Speaker 10: tailored to individual goals, timelines, and comfort levels.

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Speaker 11: But the takeaway is simple. When your financial life is

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Speaker 11: organized and coordinated, everything tends to feel calmer and more manageable.

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Speaker 11: Brings us back to the lesson you noticed in Japan.

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Speaker 11: Harmony isn't just about avoiding conflict. It's about creating balance exactly,

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Speaker 11: and the best financial plans do the same thing. They

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Speaker 11: bring balance and clarity to something that can otherwise feel complicated.

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Speaker 1: Well said, that's going to wrap things up. If you'd

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Speaker 1: like how.

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Speaker 10: Bringing more harmony and coordination to your financial plan, give

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Speaker 10: us a call. We'd be happy to walk through your

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Speaker 10: situation with you.

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Speaker 11: Absolutely well, Thanks Greg, and enjoy the rest of your weekend.

445
00:23:24,520 --> 00:23:27,400
Speaker 3: To get in touch with Greg Murray or Mary, Madeline

446
00:23:27,480 --> 00:23:31,080
Speaker 3: Kelly or any member of the Kelly Financial team called

447
00:23:31,200 --> 00:23:37,840
Speaker 3: at at eight eight hundred eighteen eighty one. Save Money

448
00:23:37,840 --> 00:23:42,200
Speaker 3: Strategies with William Kelly and Kelly Kelly. Call the team

449
00:23:42,280 --> 00:23:46,640
Speaker 3: on at A eight eight hundreds, eighteen eighty one.

450
00:23:47,080 --> 00:23:54,200
Speaker 4: Care Welcome back to Save Money Strategies. I'm Kelly Kelly

451
00:23:54,280 --> 00:23:58,160
Speaker 4: here with my son, William Kelly Junior, and today we're

452
00:23:58,200 --> 00:24:01,840
Speaker 4: talking about something that's making a lot of headlines lately,

453
00:24:02,200 --> 00:24:07,000
Speaker 4: the One Big Beautiful Bill. Now, whenever Washington passes a

454
00:24:07,080 --> 00:24:12,040
Speaker 4: major law that affects taxes, healthcare, or retirement planning, people

455
00:24:12,240 --> 00:24:16,520
Speaker 4: naturally start asking a simple question, what does this mean

456
00:24:16,600 --> 00:24:21,520
Speaker 4: for my retirement, Because beyond headlines, what really matters is

457
00:24:21,560 --> 00:24:25,879
Speaker 4: how these changes affect your income, your healthcare planning, and

458
00:24:25,960 --> 00:24:28,200
Speaker 4: the future you're building for your family.

459
00:24:28,640 --> 00:24:29,320
Speaker 1: That's right, mom.

460
00:24:29,640 --> 00:24:32,040
Speaker 2: One thing we've learned working with families over the years

461
00:24:32,160 --> 00:24:35,359
Speaker 2: is that policy changes come and go, laws evolve, and

462
00:24:35,400 --> 00:24:38,800
Speaker 2: tax rules shift. What a strong retirement plan should remain

463
00:24:38,880 --> 00:24:42,520
Speaker 2: study and that's really what today's conversation is about. Helping

464
00:24:42,520 --> 00:24:45,320
Speaker 2: people understand what these changes may mean so that they

465
00:24:45,320 --> 00:24:48,200
Speaker 2: can make thoughtful decisions instead of reacting to headlines.

466
00:24:48,359 --> 00:24:54,120
Speaker 4: Let's start with something many retirees care deeply about, Social Security.

467
00:24:54,560 --> 00:24:57,400
Speaker 4: There was a lot of discussion over the past year

468
00:24:57,560 --> 00:25:03,800
Speaker 4: about eliminating taxes on Social Security entirely, but what the

469
00:25:03,960 --> 00:25:08,760
Speaker 4: legislation actually introduces is something a little different. There's a

470
00:25:08,880 --> 00:25:14,600
Speaker 4: temporary additional deduction available for seniors over age sixty five,

471
00:25:15,080 --> 00:25:19,720
Speaker 4: which could reduce taxable income for some retirees so much.

472
00:25:20,080 --> 00:25:22,520
Speaker 1: Does that mean Social Security won't be taxed anymore?

473
00:25:22,640 --> 00:25:23,040
Speaker 6: William?

474
00:25:23,200 --> 00:25:27,320
Speaker 4: That is a great question, and the answer is not exactly.

475
00:25:27,920 --> 00:25:32,280
Speaker 4: Social Security benefits can still be taxable depending on your

476
00:25:32,359 --> 00:25:37,000
Speaker 4: total income. And how your retirement income is structured. So

477
00:25:37,119 --> 00:25:42,040
Speaker 4: it isn't a full elimination of taxes. It's more like

478
00:25:42,080 --> 00:25:46,480
Speaker 4: a modest adjustment that may provide some additional breathing room.

479
00:25:47,000 --> 00:25:50,359
Speaker 2: For many middle aged income retirees, that deduction could simply

480
00:25:50,359 --> 00:25:52,159
Speaker 2: mean keeping a little more of their own money for

481
00:25:52,200 --> 00:25:54,280
Speaker 2: each year. But it's still important to look at the

482
00:25:54,280 --> 00:25:57,040
Speaker 2: bigger picture when it comes to how retirement income is

483
00:25:57,080 --> 00:25:58,600
Speaker 2: taxed exactly.

484
00:25:59,240 --> 00:26:02,800
Speaker 4: And when we talk with families about changes like this,

485
00:26:03,080 --> 00:26:05,800
Speaker 4: we usually remind them not to think of it as

486
00:26:05,840 --> 00:26:10,520
Speaker 4: a windfall. Instead, think of it as an opportunity to

487
00:26:10,560 --> 00:26:15,600
Speaker 4: strengthen your plan. Maybe it helps build an emergency reserve,

488
00:26:16,000 --> 00:26:19,879
Speaker 4: maybe it helps reduce a little debt, or maybe it

489
00:26:20,000 --> 00:26:25,520
Speaker 4: simply provides a little more flexibility to enjoy retirement relief

490
00:26:25,800 --> 00:26:30,080
Speaker 4: is helpful, but thoughtful planning is still essential.

491
00:26:30,520 --> 00:26:34,919
Speaker 2: Another area where the legislation creates some flexibility involves education planning,

492
00:26:35,080 --> 00:26:38,080
Speaker 2: especially when grandparents want to help support their children. Many

493
00:26:38,160 --> 00:26:40,920
Speaker 2: families today are using the five two nine education accounts,

494
00:26:40,960 --> 00:26:43,920
Speaker 2: and the rules around those accounts have expanded. Funds may

495
00:26:43,920 --> 00:26:46,600
Speaker 2: now be used for a wider range of educational purposes,

496
00:26:46,960 --> 00:26:50,919
Speaker 2: including tutoring, certification, programs and certain types of career training,

497
00:26:51,240 --> 00:26:53,720
Speaker 2: and honestly, mom, we see this all the time with

498
00:26:53,800 --> 00:26:56,800
Speaker 2: families we work with. Grandparents really love being able to

499
00:26:56,800 --> 00:26:59,240
Speaker 2: help their grandchildren get started in life.

500
00:26:58,960 --> 00:27:03,040
Speaker 4: And for many grands parents, that can be incredibly meaningful

501
00:27:03,359 --> 00:27:08,720
Speaker 4: because legacy isn't just about what you leave someday. Sometimes

502
00:27:08,800 --> 00:27:12,080
Speaker 4: it is about the opportunities you help create while you're

503
00:27:12,200 --> 00:27:17,080
Speaker 4: here to see the impact. Helping a grandchild pursue education

504
00:27:17,760 --> 00:27:22,240
Speaker 4: or a career path can strengthen family relationships and create

505
00:27:22,359 --> 00:27:28,919
Speaker 4: important conversations about responsibility and financial values, and many retirees

506
00:27:29,040 --> 00:27:33,199
Speaker 4: tell us that supporting the next generation becomes one of

507
00:27:33,280 --> 00:27:35,719
Speaker 4: the most rewarding parts of retirement.

508
00:27:36,000 --> 00:27:39,440
Speaker 2: Another important part of this conversation involves healthcare and long

509
00:27:39,520 --> 00:27:41,879
Speaker 2: term care planning. Some of those provisions in the new

510
00:27:41,960 --> 00:27:45,560
Speaker 2: law involve adjustments to medicate eligibility and how long term

511
00:27:45,600 --> 00:27:49,960
Speaker 2: care is evaluated. For many Americans, Medicaid ultimately becomes the

512
00:27:50,000 --> 00:27:53,840
Speaker 2: program that helps cover long term care expenses later in life.

513
00:27:53,560 --> 00:27:57,800
Speaker 4: Which means planning ahead becomes even more important. The best

514
00:27:57,840 --> 00:28:00,800
Speaker 4: time to think about long term care plan planning is

515
00:28:00,920 --> 00:28:05,160
Speaker 4: before a crisis happens, not when a family is already

516
00:28:05,200 --> 00:28:09,760
Speaker 4: dealing with a health challenge, Families should talk about preferences early.

517
00:28:10,280 --> 00:28:15,439
Speaker 4: Would you prefer home care if possible, would assisted living

518
00:28:15,600 --> 00:28:20,000
Speaker 4: be acceptable? What would you want if more advanced care

519
00:28:20,119 --> 00:28:25,240
Speaker 4: becomes necessary. These conversations aren't always easy, but they can

520
00:28:25,280 --> 00:28:30,480
Speaker 4: make a tremendous difference later on for spouses and adult children.

521
00:28:31,000 --> 00:28:34,920
Speaker 2: Another change getting attention involves the state tax exemptions, which

522
00:28:34,920 --> 00:28:37,680
Speaker 2: you are expected to increase to roughly fifteen million dollars

523
00:28:37,680 --> 00:28:41,560
Speaker 2: per person starting twenty twenty six. Now that level won't

524
00:28:41,600 --> 00:28:44,960
Speaker 2: affect every family, but estate planning is about much more than.

525
00:28:44,840 --> 00:28:50,680
Speaker 4: Taxes exactly, even for families with more modest estates, Having

526
00:28:50,760 --> 00:28:55,360
Speaker 4: clear documents like wills and trusts can prevent confusion and

527
00:28:55,640 --> 00:29:03,200
Speaker 4: unnecessary legal complications. Without planning, families sometimes face delays and

528
00:29:03,440 --> 00:29:08,520
Speaker 4: unnecessary stress during an already emotional time. With the right

529
00:29:08,640 --> 00:29:14,480
Speaker 4: planning in place, assets can transfer smoothly according to your wishes,

530
00:29:14,960 --> 00:29:17,720
Speaker 4: and in many ways, planning your estate is one of

531
00:29:17,760 --> 00:29:20,680
Speaker 4: the most thoughtful things you can do for the people you.

532
00:29:20,680 --> 00:29:24,440
Speaker 2: Love and mom This really highlights a bigger point. Tax

533
00:29:24,520 --> 00:29:29,280
Speaker 2: laws change, healthcare rules evolve, and retirement policies shift, and

534
00:29:29,320 --> 00:29:32,160
Speaker 2: when those changes happen, many people feel uncertain about what

535
00:29:32,280 --> 00:29:33,640
Speaker 2: actually applies to them.

536
00:29:33,840 --> 00:29:38,320
Speaker 4: Which is exactly why our team at Kelly Financial created

537
00:29:38,360 --> 00:29:43,960
Speaker 4: a guide called Unlock Your Tax Savings. This guide walks

538
00:29:44,040 --> 00:29:48,400
Speaker 4: through many of these changes in straightforward language and helps

539
00:29:48,440 --> 00:29:54,400
Speaker 4: retirees understand how evolving tax rules may affect their financial picture,

540
00:29:54,960 --> 00:29:59,120
Speaker 4: because when you have clarity, you can make decisions calmly

541
00:29:59,360 --> 00:29:59,960
Speaker 4: and confident.

542
00:30:00,240 --> 00:30:00,400
Speaker 3: Late.

543
00:30:00,960 --> 00:30:04,200
Speaker 5: If you'd like a copy of our Unlock your.

544
00:30:04,080 --> 00:30:07,920
Speaker 4: Tax Savings Guide, simply reach out to our team. You

545
00:30:07,960 --> 00:30:11,440
Speaker 4: can call us at eight eight eight eight hundred eighteen

546
00:30:11,480 --> 00:30:17,080
Speaker 4: eighty one or email kellyat Kellyfinancial dot org and we'll

547
00:30:17,120 --> 00:30:19,080
Speaker 4: be happy to send that guide to you.

548
00:30:19,600 --> 00:30:22,800
Speaker 2: And when we come back, we'll continue this conversation because

549
00:30:22,960 --> 00:30:26,760
Speaker 2: understanding the policy changes is only the first step that's right.

550
00:30:27,400 --> 00:30:30,720
Speaker 4: In our next segment, we'll talk about how retirees can

551
00:30:30,800 --> 00:30:36,480
Speaker 4: protect their lifestyle as tax laws, healthcare policies, and retirement

552
00:30:36,560 --> 00:30:42,680
Speaker 4: rules continue to evolve. Stay with us, we'll be right back.

553
00:30:44,840 --> 00:30:48,920
Speaker 3: Safe money strategies brought to you by Kelly Financial Services.

554
00:30:49,120 --> 00:30:52,920
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

555
00:30:53,000 --> 00:30:54,960
Speaker 3: visit Kellyfinancial dot org.

556
00:30:55,480 --> 00:30:59,440
Speaker 12: Ready to enjoy your golden years without worry at Kelly Financial.

557
00:30:59,560 --> 00:31:02,920
Speaker 12: We know retirement planning can be overwhelming. With more than

558
00:31:02,960 --> 00:31:06,640
Speaker 12: twenty two years of experience, our friendly team of advisors

559
00:31:06,720 --> 00:31:09,920
Speaker 12: makes it easy and stress free. Trust us to help

560
00:31:09,920 --> 00:31:13,400
Speaker 12: you create a secure and enjoyable future. For a free

561
00:31:13,480 --> 00:31:17,760
Speaker 12: initial retirement consultation called eight eight eight eight hundred eighteen

562
00:31:17,840 --> 00:31:22,000
Speaker 12: eighty one or email Kelly at Kellyfinancial dot org. We're

563
00:31:22,080 --> 00:31:24,200
Speaker 12: Kelly Financial. Come retire with.

564
00:31:24,120 --> 00:31:29,080
Speaker 3: Us Safe Money Strategies with William Kelly and Kelly Kelly.

565
00:31:29,320 --> 00:31:33,600
Speaker 3: Call the team on eight eight eight hundred eighteen eighty one.

566
00:31:34,240 --> 00:31:35,720
Speaker 12: Thank care.

567
00:31:36,800 --> 00:31:41,520
Speaker 4: Than Welcome back to Safe Money Strategies. I'm Kelly Kelly

568
00:31:41,640 --> 00:31:45,160
Speaker 4: here with my son William. Before the break, we were

569
00:31:45,200 --> 00:31:48,840
Speaker 4: talking about some of the recent techs and policy changes

570
00:31:48,880 --> 00:31:52,760
Speaker 4: that are getting attention right now and how these changes

571
00:31:52,840 --> 00:31:57,800
Speaker 4: may affect retirees and their families. But understanding the policy

572
00:31:57,960 --> 00:32:02,400
Speaker 4: changes is really only the first step. The bigger question

573
00:32:02,800 --> 00:32:07,640
Speaker 4: is how do you protect your retirement lifestyle when laws

574
00:32:07,640 --> 00:32:10,280
Speaker 4: and policies continue to evolve.

575
00:32:10,920 --> 00:32:14,600
Speaker 2: That's exactly right, mom. One important thing people should understand

576
00:32:14,680 --> 00:32:17,640
Speaker 2: is that many provisions in the new legislation are temporary.

577
00:32:18,200 --> 00:32:21,120
Speaker 2: Some of the deductions and adjustments we discussed earlier are

578
00:32:21,160 --> 00:32:24,200
Speaker 2: scheduled to last only through twenty twenty eight. So one

579
00:32:24,240 --> 00:32:26,680
Speaker 2: of the key lessons here is that retirement planning can't

580
00:32:26,680 --> 00:32:31,160
Speaker 2: assume today's rules will last forever. Instead, retirees need flexibility

581
00:32:31,160 --> 00:32:33,360
Speaker 2: in their plans so that they can adjust if laws

582
00:32:33,440 --> 00:32:35,440
Speaker 2: or healthcare policies change in the future.

583
00:32:35,880 --> 00:32:40,360
Speaker 4: Good planning is not about predicting the future perfectly. It's

584
00:32:40,400 --> 00:32:45,240
Speaker 4: about building a strategy that can adapt over time, because

585
00:32:45,360 --> 00:32:49,760
Speaker 4: the truth is Washington will always continue to make adjustments

586
00:32:49,800 --> 00:32:54,200
Speaker 4: to tax laws and retirement rules. But when your plan

587
00:32:54,400 --> 00:32:59,760
Speaker 4: is structured carefully, those changes become manageable instead of stressful.

588
00:33:00,280 --> 00:33:02,920
Speaker 2: Another important topic that continues to come up is long

589
00:33:03,040 --> 00:33:06,600
Speaker 2: term care planning. As we mentioned earlier, changes in Medicaid

590
00:33:06,600 --> 00:33:11,000
Speaker 2: eligibility and program oversight mean families shouldn't automatically assume government

591
00:33:11,080 --> 00:33:15,440
Speaker 2: programs will cover future care. For many retirees, that realization

592
00:33:15,720 --> 00:33:18,560
Speaker 2: can feel a little uncomfortable, but it also gives family

593
00:33:18,600 --> 00:33:20,400
Speaker 2: an opportunity to start planning earlier.

594
00:33:20,680 --> 00:33:25,480
Speaker 4: Exactly, long term care planning isn't just a financial issue.

595
00:33:25,600 --> 00:33:29,680
Speaker 4: It's a family conversation. Where would you prefer to receive

596
00:33:29,800 --> 00:33:34,280
Speaker 4: care if ever became necessary? Would you prefer to stay

597
00:33:34,320 --> 00:33:38,880
Speaker 4: in your home as long as possible. Would assisted living

598
00:33:38,960 --> 00:33:44,360
Speaker 4: be acceptable if that offered more support. These conversations aren't

599
00:33:44,400 --> 00:33:48,040
Speaker 4: always easy, but having them early can make a tremendous

600
00:33:48,080 --> 00:33:52,000
Speaker 4: difference later for spouses and adult children.

601
00:33:52,400 --> 00:33:56,560
Speaker 2: Another key part of retirement planning involves income stability. When

602
00:33:56,600 --> 00:34:00,120
Speaker 2: markets move up and down and policy changes create uncertainty,

603
00:34:00,400 --> 00:34:03,360
Speaker 2: many retirees start to feel anxious about their financial future.

604
00:34:03,920 --> 00:34:06,280
Speaker 2: But one way to reduce that stress is by creating

605
00:34:06,320 --> 00:34:08,320
Speaker 2: reliable income streams in retirement.

606
00:34:08,800 --> 00:34:12,640
Speaker 4: You'll often hear us talk about the idea of mailbox money.

607
00:34:13,360 --> 00:34:18,880
Speaker 4: That's income that arrives regularly, just like Social Security, and

608
00:34:19,040 --> 00:34:21,880
Speaker 4: doesn't depend on what the stock market happened to do

609
00:34:22,000 --> 00:34:27,640
Speaker 4: that week. When retirees have dependable income sources supporting their lifestyle,

610
00:34:28,120 --> 00:34:32,040
Speaker 4: it often creates a tremendous sense of calm. They don't

611
00:34:32,040 --> 00:34:34,439
Speaker 4: feel like they have to check the market every day,

612
00:34:35,000 --> 00:34:38,960
Speaker 4: and they can focus on enjoying retirement rather than worrying

613
00:34:39,040 --> 00:34:41,280
Speaker 4: about every financial headline.

614
00:34:41,600 --> 00:34:44,440
Speaker 2: And that's really the goal, because at the end of

615
00:34:44,480 --> 00:34:48,279
Speaker 2: the day, retirement planning isn't just about building wealth. It's

616
00:34:48,280 --> 00:34:51,120
Speaker 2: about turning what you've saved into income you can actually

617
00:34:51,160 --> 00:34:54,640
Speaker 2: live on. Month after month, year after year.

618
00:34:54,960 --> 00:34:59,040
Speaker 4: Another topic we've been thinking about recently is something that

619
00:34:59,239 --> 00:35:03,800
Speaker 4: often gets so overlooked and retirement planning, and that's physical health.

620
00:35:04,120 --> 00:35:08,920
Speaker 4: Financial planning and health planning really go hand in hand.

621
00:35:09,480 --> 00:35:13,799
Speaker 2: Research consistently shows that even modest physical activity things like

622
00:35:13,880 --> 00:35:16,000
Speaker 2: walking regularly or getting your heart rate up for just

623
00:35:16,080 --> 00:35:19,080
Speaker 2: a short time each day, can support long term health

624
00:35:19,120 --> 00:35:22,879
Speaker 2: and longevity. And when retire, restay active and engaged, they

625
00:35:22,960 --> 00:35:25,240
Speaker 2: often enjoy retirement much more fully.

626
00:35:25,520 --> 00:35:28,799
Speaker 4: Financial freedom means very little if you don't have the

627
00:35:29,040 --> 00:35:33,000
Speaker 4: energy or mobility to enjoy the life you work so

628
00:35:33,200 --> 00:35:37,000
Speaker 4: hard to build. So taking care of your health, even

629
00:35:37,239 --> 00:35:41,719
Speaker 4: in small daily ways, becomes part of protecting your retirement

630
00:35:41,800 --> 00:35:43,320
Speaker 4: lifestyle as well.

631
00:35:43,800 --> 00:35:47,000
Speaker 2: And mom, when we talk about wealth preservation, it's important

632
00:35:47,000 --> 00:35:50,080
Speaker 2: to remember that the goal simply isn't about minimizing taxes.

633
00:35:50,800 --> 00:35:53,640
Speaker 2: The goal is creating freedom to live the life you want.

634
00:35:54,080 --> 00:35:54,720
Speaker 1: That's right.

635
00:35:55,200 --> 00:36:00,560
Speaker 4: When your financial plan is strong, it creates options, options

636
00:36:00,600 --> 00:36:05,400
Speaker 4: to spend time with family, options to travel, options to

637
00:36:05,520 --> 00:36:10,280
Speaker 4: support grandchildren or causes that matter to you. Because wealth

638
00:36:10,320 --> 00:36:14,720
Speaker 4: preservation isn't just about numbers on the statement, it's about

639
00:36:14,760 --> 00:36:18,840
Speaker 4: creating a life filled with purpose and connection.

640
00:36:18,920 --> 00:36:21,640
Speaker 2: And As we've talked about today, tax laws and retirement

641
00:36:21,640 --> 00:36:25,480
Speaker 2: policies will continue to evolve over time, which is exactly

642
00:36:25,520 --> 00:36:27,960
Speaker 2: why education becomes so important.

643
00:36:28,320 --> 00:36:31,600
Speaker 4: That's why our team at Kelly Financial created a guide

644
00:36:31,800 --> 00:36:36,120
Speaker 4: called Unlock Your Tax Savings. This guide explains many of

645
00:36:36,160 --> 00:36:41,239
Speaker 4: the recent policy changes in clear, easy to understand language

646
00:36:41,560 --> 00:36:45,600
Speaker 4: and helps retirees think through how those changes may affect

647
00:36:45,640 --> 00:36:49,719
Speaker 4: their financial picture. Because when you have clarity, you can

648
00:36:49,760 --> 00:36:54,520
Speaker 4: move forward with confidence instead of uncertainty. If you'd like

649
00:36:54,560 --> 00:36:58,640
Speaker 4: a copy of the Unlock your Tax Savings Guide, simply

650
00:36:58,719 --> 00:37:01,439
Speaker 4: reach out to our team. You can call us at

651
00:37:01,440 --> 00:37:05,200
Speaker 4: eight eight eight eight hundred eighteen eighty one or email

652
00:37:05,400 --> 00:37:09,800
Speaker 4: kellyat Kellyfinancial dot org and we'll be more than happy

653
00:37:09,800 --> 00:37:10,960
Speaker 4: to send that guide to.

654
00:37:10,960 --> 00:37:11,840
Speaker 1: You and mom.

655
00:37:12,000 --> 00:37:14,720
Speaker 2: That's really the message we want listeners to take away today.

656
00:37:14,920 --> 00:37:18,560
Speaker 2: Policy changes will come and go, but when your financial

657
00:37:18,560 --> 00:37:21,200
Speaker 2: plan is thoughtful and well structured, you don't have to

658
00:37:21,200 --> 00:37:23,560
Speaker 2: feel reactive to every headline.

659
00:37:23,200 --> 00:37:28,719
Speaker 4: Exactly, and that's really the goal, not reacting to every headline,

660
00:37:28,960 --> 00:37:32,000
Speaker 4: but having a plan strong enough that you can move

661
00:37:32,080 --> 00:37:36,360
Speaker 4: forward with confidence and enjoy the retirement you work so

662
00:37:36,560 --> 00:37:37,280
Speaker 4: hard to build.

663
00:37:37,560 --> 00:37:40,399
Speaker 2: Stay tuned, we have more informative content coming your way

664
00:37:40,520 --> 00:37:44,839
Speaker 2: right here on WRJO.

665
00:37:45,120 --> 00:37:49,200
Speaker 3: Safe Money Strategies brought to you by Kelly Financial Services.

666
00:37:49,400 --> 00:37:53,160
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

667
00:37:53,239 --> 00:37:55,200
Speaker 3: visit Kellyfinancial dot org.

668
00:37:56,160 --> 00:37:56,719
Speaker 1: Welcome back.

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00:37:56,800 --> 00:38:00,160
Speaker 8: Before the break, we talked about the accumulation phase, the

670
00:38:00,200 --> 00:38:04,000
Speaker 8: growth years, when you're working, contributing and building wealth. Now

671
00:38:04,000 --> 00:38:07,320
Speaker 8: we're going to talk about the second game, distribution, greg.

672
00:38:07,719 --> 00:38:09,560
Speaker 8: This is where the rules really change.

673
00:38:09,640 --> 00:38:13,960
Speaker 9: They absolutely do, because once you retire, two of your

674
00:38:14,000 --> 00:38:19,520
Speaker 9: biggest advantages disappear, time and contributions. You're no longer adding

675
00:38:19,560 --> 00:38:23,200
Speaker 9: money to the portfolio. In fact, you're doing the opposite.

676
00:38:23,400 --> 00:38:26,840
Speaker 9: You withdrawing from your nest egg to fund your lifestyle

677
00:38:26,920 --> 00:38:30,799
Speaker 9: in retirement when the paycheck stops, and that changes the

678
00:38:30,920 --> 00:38:32,080
Speaker 9: math completely.

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00:38:32,239 --> 00:38:35,640
Speaker 8: Let's walk through a hypothetical example to make this rail. Earlier,

680
00:38:35,760 --> 00:38:38,640
Speaker 8: we talked about David, age fifty two, still working a

681
00:38:38,760 --> 00:38:42,719
Speaker 8: twenty percent market correction is uncomfortable, but manageable because he's

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00:38:42,760 --> 00:38:45,759
Speaker 8: contributing and has time to recover. Now, let's imagine a

683
00:38:45,840 --> 00:38:49,560
Speaker 8: hypothetical couple. We'll call them John and Linda. They're both

684
00:38:49,600 --> 00:38:53,080
Speaker 8: sixty seven, they just retired last year. They've saved one

685
00:38:53,120 --> 00:38:56,640
Speaker 8: point two million across their retirement accounts. They're drawing about

686
00:38:56,680 --> 00:39:00,200
Speaker 8: sixty thousand per year from their portfolio to supple and

687
00:39:00,239 --> 00:39:03,960
Speaker 8: social security. Now the market drops twenty percent, that's not

688
00:39:04,120 --> 00:39:05,440
Speaker 8: just an emotional hit anymore.

689
00:39:05,560 --> 00:39:10,320
Speaker 9: That's structural exactly, because now they're withdrawing from a shrinking base.

690
00:39:10,880 --> 00:39:14,320
Speaker 9: If they're one point two million dollar portfolio drops to

691
00:39:14,480 --> 00:39:18,320
Speaker 9: nine hundred and sixty thousand and they still need sixty

692
00:39:18,400 --> 00:39:23,200
Speaker 9: thousand for income, that withdrawal represents a much larger percentage

693
00:39:23,200 --> 00:39:26,880
Speaker 9: of the portfolio than it did before the decline. And

694
00:39:26,920 --> 00:39:31,640
Speaker 9: this is where something called sequence of returns risk becomes critical.

695
00:39:31,760 --> 00:39:33,440
Speaker 1: Explain that in plain English.

696
00:39:33,280 --> 00:39:37,600
Speaker 9: Sequence of returns risk simply means the timing of market

697
00:39:37,640 --> 00:39:41,520
Speaker 9: returns matters much more. When you're drawing down on your

698
00:39:41,560 --> 00:39:46,440
Speaker 9: nestick during accumulation, the order of returns, whether the market's

699
00:39:46,560 --> 00:39:49,520
Speaker 9: up or down in any given year, it doesn't hurt

700
00:39:49,600 --> 00:39:52,840
Speaker 9: you as much because you're not taking money out.

701
00:39:53,120 --> 00:39:56,719
Speaker 6: But during distribution, if you experience.

702
00:39:56,320 --> 00:40:02,160
Speaker 9: Negative returns early on in retirement whils I simultaneously taking withdrawals,

703
00:40:02,600 --> 00:40:07,120
Speaker 9: you can permanently damage the portfolio's long term sustainability.

704
00:40:07,280 --> 00:40:11,560
Speaker 8: So to retirees with identical average returns over twenty years

705
00:40:11,600 --> 00:40:15,040
Speaker 8: can have dramatically different outcomes depending on when the downturns

706
00:40:15,080 --> 00:40:16,319
Speaker 8: occur exactly.

707
00:40:16,640 --> 00:40:21,399
Speaker 9: Early losses combined with withdrawals can create a hole that's

708
00:40:21,640 --> 00:40:23,520
Speaker 9: very difficult to recover from.

709
00:40:23,800 --> 00:40:26,040
Speaker 6: And that's why distribution is.

710
00:40:25,920 --> 00:40:32,120
Speaker 9: Not just accumulation and reverse It requires a completely different strategy.

711
00:40:32,200 --> 00:40:35,920
Speaker 8: So let's talk about what actually changes in accumulation, the

712
00:40:35,960 --> 00:40:39,959
Speaker 8: goal is maximum long term growth. In distribution, the goal

713
00:40:40,040 --> 00:40:44,359
Speaker 8: shifts to sustainable income and risk management. That means we're

714
00:40:44,400 --> 00:40:47,920
Speaker 8: asking different questions. How do we create reliable cash flow,

715
00:40:48,280 --> 00:40:51,440
Speaker 8: how do we reduce volatility impact, how do we make

716
00:40:51,480 --> 00:40:54,320
Speaker 8: the portfolio last twenty five or thirty years?

717
00:40:54,640 --> 00:40:56,560
Speaker 1: How do we manage taxes efficiently?

718
00:40:56,840 --> 00:41:01,480
Speaker 9: And income planning becomes central for John and Linda. Their

719
00:41:01,560 --> 00:41:07,680
Speaker 9: plan might include coordinated social security claiming strategies, pension elections

720
00:41:08,000 --> 00:41:11,320
Speaker 9: if there are pensions involved in the mix, a structured

721
00:41:11,360 --> 00:41:15,200
Speaker 9: withdrawal strategy from any investment accounts that they have, and

722
00:41:15,400 --> 00:41:21,160
Speaker 9: asset allocation adjustments to reduce downside exposure. This is where

723
00:41:21,239 --> 00:41:25,280
Speaker 9: we often introduce the idea of building an income floor.

724
00:41:25,440 --> 00:41:26,760
Speaker 1: Let's talk about that concept.

725
00:41:27,040 --> 00:41:30,279
Speaker 9: An income floor is the amount of predictable income that

726
00:41:30,320 --> 00:41:35,640
Speaker 9: covers your essential expenses like housing, food, utilities, and insurance.

727
00:41:36,000 --> 00:41:40,160
Speaker 9: For many retirees, social Security forms the foundation. For some

728
00:41:40,680 --> 00:41:45,000
Speaker 9: there may also be a pension. Those sources provide stability.

729
00:41:45,400 --> 00:41:51,799
Speaker 9: Then we layer portfolio withdrawals on top to fund discretionary spending, travel, hobbies,

730
00:41:51,920 --> 00:41:53,279
Speaker 9: and gifts to grandchildren.

731
00:41:53,360 --> 00:41:55,680
Speaker 8: So instead of thinking how do I grow this as

732
00:41:55,680 --> 00:41:58,840
Speaker 8: fast as possible, we're thinking how do I structure this

733
00:41:58,920 --> 00:41:59,960
Speaker 8: so it pays me reliable.

734
00:42:00,600 --> 00:42:03,000
Speaker 1: That's a completely different mindset.

735
00:42:02,600 --> 00:42:07,440
Speaker 9: It is, and it also involves tax efficiency. In accumulation,

736
00:42:07,880 --> 00:42:11,200
Speaker 9: you're mostly contributing to tax deferred accounts like four to

737
00:42:11,280 --> 00:42:15,320
Speaker 9: one ks and traditional iras. You're focused on reducing taxes

738
00:42:15,600 --> 00:42:19,399
Speaker 9: in the here and now today. In distribution, now you're

739
00:42:19,440 --> 00:42:23,080
Speaker 9: deciding which account do what drew from first, how do

740
00:42:23,160 --> 00:42:28,120
Speaker 9: I manage required minimum distributions, how do I avoid pushing

741
00:42:28,160 --> 00:42:32,080
Speaker 9: myself into higher tax brackets, and how do I minimize

742
00:42:32,360 --> 00:42:36,640
Speaker 9: the tax burden on my surviving spouse. The strategy becomes

743
00:42:36,800 --> 00:42:39,000
Speaker 9: much more nuanced at this point.

744
00:42:38,719 --> 00:42:40,399
Speaker 1: And emotionally it changes too.

745
00:42:40,760 --> 00:42:45,480
Speaker 8: During accumulation, market volatility feels like a temporary setback. During distribution,

746
00:42:45,840 --> 00:42:49,040
Speaker 8: volatility can create fair because now your lifestyle depends on

747
00:42:49,080 --> 00:42:49,719
Speaker 8: the portfolio.

748
00:42:50,120 --> 00:42:51,360
Speaker 1: That's why many retire.

749
00:42:51,400 --> 00:42:54,160
Speaker 8: You say, I didn't realize how differently i'd feel once

750
00:42:54,200 --> 00:42:55,040
Speaker 8: I stopped working.

751
00:42:55,239 --> 00:42:56,200
Speaker 6: That's very common.

752
00:42:56,520 --> 00:43:00,359
Speaker 9: The psychological shift is real, which is why we often

753
00:43:00,400 --> 00:43:04,080
Speaker 9: say retirement planning isn't just about returns, it's about structure.

754
00:43:04,400 --> 00:43:07,600
Speaker 9: For John and Linda, the right allocation in retirement may

755
00:43:07,680 --> 00:43:10,920
Speaker 9: look different than what they had at fifty five and

756
00:43:11,080 --> 00:43:16,400
Speaker 9: retirement it might involve more diversification, more emphasis on downside

757
00:43:16,520 --> 00:43:21,040
Speaker 9: risk protection, strategic cash reserves to avoid selling stocks during

758
00:43:21,080 --> 00:43:25,879
Speaker 9: downturns in the market, and intentional withdrawal sequencing. It's more

759
00:43:25,960 --> 00:43:28,400
Speaker 9: defense and less about offense.

760
00:43:28,640 --> 00:43:29,600
Speaker 1: And here's what we see.

761
00:43:29,640 --> 00:43:34,920
Speaker 8: Too often, someone retires but nothing changes, same portfolio, same allocation,

762
00:43:35,280 --> 00:43:39,799
Speaker 8: same mindset. They spent thirty years mastering accumulation but never

763
00:43:39,840 --> 00:43:41,040
Speaker 8: built a distribution plan.

764
00:43:41,280 --> 00:43:45,200
Speaker 9: And that is risky because retirement can last twenty five

765
00:43:45,480 --> 00:43:48,400
Speaker 9: or thirty years. That's a long time to rely on

766
00:43:48,440 --> 00:43:53,760
Speaker 9: a portfolio without a designed strategy for income sustainability.

767
00:43:53,880 --> 00:43:56,399
Speaker 8: So if you're listening today and you're within five years

768
00:43:56,400 --> 00:44:00,160
Speaker 8: of retirement, we're already retired. Here's the key takeaway. Make

769
00:44:00,200 --> 00:44:04,160
Speaker 8: sure you're playing the right game. Accumulation is about building wealth.

770
00:44:04,520 --> 00:44:08,279
Speaker 8: Distribution is about turning wealth into a reliable paycheck. Those

771
00:44:08,320 --> 00:44:13,360
Speaker 8: are two different objectives, and different objectives require different strategies exactly.

772
00:44:13,560 --> 00:44:18,680
Speaker 9: The tools may overlap stocks, bonds, retirement accounts, but the

773
00:44:18,719 --> 00:44:22,799
Speaker 9: purpose changes and purpose drives strategy.

774
00:44:22,960 --> 00:44:25,640
Speaker 8: If you'd like to understand how your current plan is structured,

775
00:44:25,760 --> 00:44:28,120
Speaker 8: whether you are still playing offense when you should be

776
00:44:28,160 --> 00:44:31,400
Speaker 8: focusing on defense, We've put together a resource that walks

777
00:44:31,440 --> 00:44:34,440
Speaker 8: through these concepts step by step. It's called the Safe

778
00:44:34,440 --> 00:44:38,160
Speaker 8: Money Strategies Workbook. Inside we outline how to evaluate your

779
00:44:38,160 --> 00:44:40,840
Speaker 8: income needs, how to think about building an income floor,

780
00:44:41,160 --> 00:44:44,560
Speaker 8: how to assess withdrawal risk, and how to transition from

781
00:44:44,560 --> 00:44:47,280
Speaker 8: accumulation to distribution thoughtfully.

782
00:44:47,440 --> 00:44:48,200
Speaker 1: There's no cost.

783
00:44:48,520 --> 00:44:52,040
Speaker 8: It's simple and educational guide to help you start asking

784
00:44:52,080 --> 00:44:53,440
Speaker 8: the right questions.

785
00:44:53,040 --> 00:44:56,759
Speaker 9: Because the most important shift isn't in the markets, it's

786
00:44:56,800 --> 00:44:57,719
Speaker 9: in your mindset.

787
00:44:57,800 --> 00:45:00,239
Speaker 8: Two different games and knowing which one you are lane

788
00:45:00,280 --> 00:45:01,280
Speaker 8: can make all the difference.

789
00:45:01,600 --> 00:45:03,600
Speaker 1: Thanks for spending time with us today. We'll see you

790
00:45:03,640 --> 00:45:10,880
Speaker 1: next week. I'm William Kelly Junior.

791
00:45:11,120 --> 00:45:14,520
Speaker 2: Many families are thinking about fresh starts, not just financially,

792
00:45:14,680 --> 00:45:18,239
Speaker 2: but how young people prepare for what comes next. I've

793
00:45:18,239 --> 00:45:21,160
Speaker 2: had the unique experience of growing up around real conversations

794
00:45:21,160 --> 00:45:26,000
Speaker 2: with our clients, families, parents and grandparents about money, responsibility,

795
00:45:26,160 --> 00:45:27,280
Speaker 2: and long term thinking.

796
00:45:27,560 --> 00:45:30,480
Speaker 1: Not theory, real life. And it's important to remember that

797
00:45:30,520 --> 00:45:32,040
Speaker 1: all investing involves.

798
00:45:31,719 --> 00:45:35,880
Speaker 2: Risk, including the potential loss of principle, which is why habits, education,

799
00:45:36,040 --> 00:45:38,640
Speaker 2: and perspective matter so much from the start.

800
00:45:38,880 --> 00:45:41,040
Speaker 1: That's why I wrote Only the Good Investor Young.

801
00:45:41,239 --> 00:45:44,280
Speaker 2: It's a straightforward guide to the basics of money, habits

802
00:45:44,280 --> 00:45:47,400
Speaker 2: and decisions that matter over time. Whether you're a client,

803
00:45:47,480 --> 00:45:50,319
Speaker 2: a parent or grandparent, or someone just starting out. This

804
00:45:50,360 --> 00:45:53,840
Speaker 2: is meant to be practical, clear, and encouraging. We're offering

805
00:45:53,840 --> 00:45:57,960
Speaker 2: complimentary signed copies to our WRKL listeners and clients. It's

806
00:45:58,000 --> 00:46:01,440
Speaker 2: also available on Amazon and soft her or kindall Call

807
00:46:01,520 --> 00:46:04,160
Speaker 2: eight at eight eight hundred and one or email Kelly

808
00:46:04,160 --> 00:46:05,640
Speaker 2: at Kelly Financial dot org.

809
00:46:05,880 --> 00:46:08,960
Speaker 1: Good have its starter early. Andy lost a lifetime.

810
00:46:09,200 --> 00:46:12,600
Speaker 7: Joining us now as she always does.

811
00:46:12,719 --> 00:46:13,640
Speaker 1: At this time.

812
00:46:14,120 --> 00:46:18,840
Speaker 7: She is the co founder, CEO, and president of Kelly

813
00:46:18,960 --> 00:46:24,800
Speaker 7: Financial Services, and yes, that is her wonderful name, Kelly.

814
00:46:25,160 --> 00:46:28,800
Speaker 1: Kelly Kelly, how are.

815
00:46:29,200 --> 00:46:32,040
Speaker 5: You, Good morning, Jeff, I am good.

816
00:46:32,480 --> 00:46:35,880
Speaker 4: We've been talking about what the one big beautiful bill

817
00:46:35,920 --> 00:46:39,440
Speaker 4: could mean for retirees and what it might mean beyond

818
00:46:39,480 --> 00:46:43,560
Speaker 4: the headlines. Yes, there are some new deductions and changes

819
00:46:43,640 --> 00:46:48,239
Speaker 4: that could benefit seniors, but here's what really matters. Policies

820
00:46:48,400 --> 00:46:52,480
Speaker 4: and laws will always evolve. Your retirement plan should be

821
00:46:52,560 --> 00:46:58,000
Speaker 4: designed to adapt. That's why we created our complementary investor guide,

822
00:46:58,280 --> 00:47:02,440
Speaker 4: Unlock your Tax Savings. It walks through what's changed, what

823
00:47:02,600 --> 00:47:07,600
Speaker 4: may expire, and how these updates could affect income, legacy plans,

824
00:47:07,840 --> 00:47:12,040
Speaker 4: and long term care strategies, all in plain English. Because

825
00:47:12,120 --> 00:47:16,920
Speaker 4: retirement planning isn't just about taxes. It's about protecting the

826
00:47:17,040 --> 00:47:19,840
Speaker 4: life you've worked so hard to build and the people

827
00:47:19,960 --> 00:47:25,040
Speaker 4: you care about most. To request your complimentary copy, simply

828
00:47:25,120 --> 00:47:30,440
Speaker 4: give us a call or email Kelly at Kellyfinancial dot org. Jeff,

829
00:47:30,560 --> 00:47:33,960
Speaker 4: have a wonderful weekend. My best of Grace and the kiddos.

830
00:47:34,400 --> 00:47:37,200
Speaker 7: Thank you, Kelly, all the best to you and everyone

831
00:47:37,239 --> 00:47:40,920
Speaker 7: at Kelly Financial. To get a free copy of that guide,

832
00:47:40,920 --> 00:47:42,680
Speaker 7: and I urge all of you if you can do

833
00:47:42,800 --> 00:47:47,200
Speaker 7: get it call now eight eighty eight hundred eighteen eighty

834
00:47:47,239 --> 00:47:51,279
Speaker 7: one eight eighty eight eight hundred eighteen eighty one, or

835
00:47:51,680 --> 00:47:57,040
Speaker 7: you can actually email Kelly herself personally Kelly at Kellyfinancial

836
00:47:57,080 --> 00:48:01,880
Speaker 7: dot org. That's Kelly at Kelly financial dot org.

837
00:48:07,239 --> 00:48:12,440
Speaker 3: Safe Money Strategies A eight eight hundred one eight eight.

838
00:48:12,400 --> 00:48:18,439
Speaker 4: One, Ladies and Gentlemen. Every week we like to share

839
00:48:18,480 --> 00:48:22,840
Speaker 4: a short reflection from Bill Kelly. Bill believed the most

840
00:48:22,960 --> 00:48:28,120
Speaker 4: important lessons in this business didn't come from markets or headlines,

841
00:48:28,960 --> 00:48:32,319
Speaker 4: but from the people he met along the way. In

842
00:48:32,360 --> 00:48:37,000
Speaker 4: this reflection, Bill talks about risk, planning for the future,

843
00:48:37,560 --> 00:48:41,560
Speaker 4: and a memorable experience with someone who left a lasting

844
00:48:41,600 --> 00:48:43,120
Speaker 4: impression on him.

845
00:48:43,600 --> 00:48:48,920
Speaker 1: Here's Bill. Have you ever thought about your eyes?

846
00:48:49,640 --> 00:48:52,280
Speaker 13: For those of you who are fortunate enough to see,

847
00:48:52,600 --> 00:48:56,680
Speaker 13: how could an eye be created? Well, I believe someone

848
00:48:56,760 --> 00:48:59,239
Speaker 13: had to design it, Ladies and gentlemantt one time I

849
00:48:59,280 --> 00:49:03,080
Speaker 13: happened to believe that was God. Some people don't believe that.

850
00:49:03,480 --> 00:49:06,200
Speaker 13: Most people who don't believe that probably don't listen to

851
00:49:06,200 --> 00:49:06,600
Speaker 13: the show.

852
00:49:06,920 --> 00:49:07,760
Speaker 1: And that's okay.

853
00:49:08,080 --> 00:49:12,320
Speaker 13: But it's a design for retirement strategies, and it's an approach,

854
00:49:12,440 --> 00:49:17,560
Speaker 13: Ladies and Gentlemen, that is all based on income, and

855
00:49:17,600 --> 00:49:20,239
Speaker 13: the income has to last you for your lifetime or

856
00:49:20,239 --> 00:49:23,200
Speaker 13: you're going to feel very strange in several years if

857
00:49:23,239 --> 00:49:26,560
Speaker 13: you run out of income. So if your assets run down,

858
00:49:26,800 --> 00:49:29,040
Speaker 13: you're going to have a problem. So if you don't

859
00:49:29,080 --> 00:49:32,480
Speaker 13: have a plan, then you're going to have problems. If

860
00:49:32,520 --> 00:49:35,680
Speaker 13: you have a plan and it's a poor plan, you're

861
00:49:35,680 --> 00:49:36,960
Speaker 13: going to double your problems.

862
00:49:37,520 --> 00:49:41,760
Speaker 1: So the safer the better. So your needs are important.

863
00:49:41,840 --> 00:49:45,120
Speaker 13: They have to be identified, and your goals have to

864
00:49:45,160 --> 00:49:49,359
Speaker 13: be identified, and you start from there. Don't fret about that,

865
00:49:49,480 --> 00:49:53,880
Speaker 13: and don't feel like you're being disingenuous or not courageous enough.

866
00:49:54,719 --> 00:49:57,080
Speaker 13: So you want a premium for your risk. You don't

867
00:49:57,080 --> 00:50:00,800
Speaker 13: want to gamble to have the risk. So that's how

868
00:50:01,200 --> 00:50:05,960
Speaker 13: we have to manage risk. Unfortunately, some people feel risk

869
00:50:06,200 --> 00:50:09,520
Speaker 13: is a function of how much money you have invested,

870
00:50:10,040 --> 00:50:13,760
Speaker 13: so they feel someone with one point eight million should

871
00:50:13,800 --> 00:50:16,960
Speaker 13: have more risk than a person who has three or

872
00:50:16,960 --> 00:50:19,560
Speaker 13: four hundred thousand dollars on the table. That's not true.

873
00:50:19,960 --> 00:50:22,719
Speaker 13: The amount of money you have invested is not a

874
00:50:22,760 --> 00:50:27,120
Speaker 13: factor in risk tolerance. The ability to recover after a

875
00:50:27,200 --> 00:50:30,160
Speaker 13: loss and have it not affect your lifestyle, to me

876
00:50:30,760 --> 00:50:35,040
Speaker 13: is primary in selecting what your risk tolerance is, and

877
00:50:35,080 --> 00:50:37,880
Speaker 13: that's how we do that. So before I tell you

878
00:50:37,960 --> 00:50:40,800
Speaker 13: this story, I should mention that the name I'm about

879
00:50:40,840 --> 00:50:44,880
Speaker 13: to use has been changed to protect the individual's privacy.

880
00:50:45,200 --> 00:50:47,960
Speaker 13: So I had a client named Frank. He used to

881
00:50:48,000 --> 00:50:50,160
Speaker 13: come in to visit with me. It was like a

882
00:50:50,200 --> 00:50:54,040
Speaker 13: holiday when Frank came to visit. When my son William

883
00:50:54,160 --> 00:50:57,120
Speaker 13: was born four years ago, Frank came in. Frank was Italian.

884
00:50:57,760 --> 00:51:03,279
Speaker 13: Frank came in with beautiful porcelain piggybank and he had

885
00:51:03,560 --> 00:51:06,840
Speaker 13: gotten a gold coin from Italy from William, and that

886
00:51:06,960 --> 00:51:11,080
Speaker 13: gold coin sits on my bureau right now. And Frank

887
00:51:11,120 --> 00:51:13,320
Speaker 13: would come in and joke. He would bring us different

888
00:51:13,320 --> 00:51:16,920
Speaker 13: types of food. He was a humble man. He was

889
00:51:16,960 --> 00:51:19,360
Speaker 13: the kind of guy that got along with everyone. He

890
00:51:19,440 --> 00:51:23,600
Speaker 13: reminded me so much of my father, his attitudes, his

891
00:51:23,680 --> 00:51:29,160
Speaker 13: respect for authority, his reverence for his God. And Frank

892
00:51:29,280 --> 00:51:31,600
Speaker 13: was just a wonderful guy to talk to. He would

893
00:51:31,640 --> 00:51:35,320
Speaker 13: bring in different Italian tapes and we just had a

894
00:51:35,360 --> 00:51:39,960
Speaker 13: great time. And we had fun helping Frank. He enjoyed investing,

895
00:51:40,120 --> 00:51:43,240
Speaker 13: and we loved having a client, but we loved Frank

896
00:51:43,640 --> 00:51:47,680
Speaker 13: more for just being Frank. And then one day Frank

897
00:51:47,719 --> 00:51:49,600
Speaker 13: came in to see me. He looked a little glum

898
00:51:50,000 --> 00:51:53,000
Speaker 13: and he said, Bill, I've been to the doctor and

899
00:51:53,080 --> 00:51:55,839
Speaker 13: I had a bad report. Doesn't look good. He said,

900
00:51:55,880 --> 00:51:59,280
Speaker 13: they'd have a spot on my lung. Well, ladies and gentlemen.

901
00:51:59,280 --> 00:51:59,799
Speaker 1: That was in a.

902
00:52:01,400 --> 00:52:04,840
Speaker 13: Sometime in June, Frank came in and sat down with me,

903
00:52:06,040 --> 00:52:08,279
Speaker 13: and he had a sweater on and he had on

904
00:52:08,760 --> 00:52:13,879
Speaker 13: a scarf, and he said, I've started my chemotherapy. And

905
00:52:13,920 --> 00:52:16,600
Speaker 13: he said, it really doesn't look good, Bill, And he

906
00:52:16,640 --> 00:52:20,879
Speaker 13: did not look good, Ladies and gentlemen, and I sat there,

907
00:52:20,960 --> 00:52:24,279
Speaker 13: we talked, and we set up some things for his

908
00:52:25,160 --> 00:52:29,719
Speaker 13: investments in case he did pass. And then about a

909
00:52:29,760 --> 00:52:31,560
Speaker 13: month and a half later, Frank came in with his

910
00:52:31,600 --> 00:52:36,720
Speaker 13: wife and you could just see that things weren't going well.

911
00:52:37,920 --> 00:52:40,160
Speaker 13: And I was sitting behind the desk and Frank always

912
00:52:40,200 --> 00:52:43,600
Speaker 13: had a joke and he always had some things that

913
00:52:43,840 --> 00:52:46,800
Speaker 13: just were great to hear. He was a wonderful person.

914
00:52:48,000 --> 00:52:49,960
Speaker 13: But he was sitting there with his wife and I

915
00:52:50,000 --> 00:52:52,759
Speaker 13: started to cry. And I was trying to sit up

916
00:52:52,800 --> 00:52:58,600
Speaker 13: straight and act act like, you know, I was sniffling

917
00:52:58,680 --> 00:53:02,480
Speaker 13: or something, but the tears just started going down my face. Well,

918
00:53:02,520 --> 00:53:06,200
Speaker 13: Frank looked across the desk and he said said, Bill,

919
00:53:06,280 --> 00:53:08,640
Speaker 13: you look like you have an analogy. You're okay, and

920
00:53:08,680 --> 00:53:13,200
Speaker 13: That was typical of Frank when things were worse for him,

921
00:53:13,719 --> 00:53:16,040
Speaker 13: as bad as they could be, he was worried about

922
00:53:16,080 --> 00:53:19,440
Speaker 13: other people. So I had to go into the next

923
00:53:19,520 --> 00:53:21,120
Speaker 13: room and I just had to cry it out, and

924
00:53:21,160 --> 00:53:24,280
Speaker 13: I had to come back and I said, I'm very upset,

925
00:53:24,360 --> 00:53:27,680
Speaker 13: I'm very sorry about what's happening. And we think a

926
00:53:27,719 --> 00:53:30,680
Speaker 13: lot of you, and we're going to miss you if

927
00:53:30,719 --> 00:53:32,799
Speaker 13: you're not well, so we really want you to try

928
00:53:32,840 --> 00:53:36,719
Speaker 13: your best to get well soon. And then we went

929
00:53:36,760 --> 00:53:40,759
Speaker 13: on with a meeting. Frank had some more jokes, he

930
00:53:40,840 --> 00:53:44,520
Speaker 13: had some tapes for me, some I think Perry Como tapes,

931
00:53:45,640 --> 00:53:48,280
Speaker 13: and off he went. By the time he left, everybody

932
00:53:48,360 --> 00:53:52,960
Speaker 13: was okay. And then I believe Frank went into the

933
00:53:52,960 --> 00:53:56,120
Speaker 13: hospital on a Thursday, and then.

934
00:53:56,080 --> 00:53:57,560
Speaker 1: Frank was gone.

935
00:53:57,760 --> 00:54:01,520
Speaker 13: It took, I believe, less than five months from the

936
00:54:01,600 --> 00:54:05,120
Speaker 13: day he told me that he had a spot on

937
00:54:05,200 --> 00:54:10,240
Speaker 13: his lung till the day that God took him into heaven.

938
00:54:11,320 --> 00:54:12,760
Speaker 1: That was it no more, Frank.

939
00:54:13,719 --> 00:54:16,960
Speaker 13: And I look at that gold coin, and I look

940
00:54:16,960 --> 00:54:21,680
Speaker 13: at that beautiful piggy bank that he gave William, and

941
00:54:21,719 --> 00:54:25,880
Speaker 13: I think about Frank probably once a week, and what

942
00:54:25,920 --> 00:54:28,439
Speaker 13: a wonderful person he was the things that we did

943
00:54:28,480 --> 00:54:31,160
Speaker 13: when he came in, the meetings I used to have

944
00:54:31,320 --> 00:54:34,680
Speaker 13: with him. Sometimes he'd come in on a Saturday, and

945
00:54:35,120 --> 00:54:37,399
Speaker 13: frankly it'd be my only meeting, but I'd come up

946
00:54:38,160 --> 00:54:41,520
Speaker 13: to the office because I'd sit with Frank. And I

947
00:54:41,640 --> 00:54:45,040
Speaker 13: learned something someone in the business once told me. I

948
00:54:45,200 --> 00:54:50,239
Speaker 13: learned this business from my clients, by their reactions, by

949
00:54:50,280 --> 00:54:53,160
Speaker 13: their successes, by the things were able to do with

950
00:54:53,239 --> 00:54:56,960
Speaker 13: them and for them. And I learned a lot of

951
00:54:56,960 --> 00:55:01,080
Speaker 13: this business from Frank about how to be human and

952
00:55:01,120 --> 00:55:03,839
Speaker 13: how to get to know clients, how to be able

953
00:55:03,880 --> 00:55:07,120
Speaker 13: to accept things from clients. Was a hard lesson for

954
00:55:07,280 --> 00:55:09,480
Speaker 13: me because I thought I had to be very stoic.

955
00:55:10,320 --> 00:55:14,799
Speaker 13: So Frank went away. It was very quick, and we

956
00:55:14,880 --> 00:55:18,440
Speaker 13: know he's in heaven and we know that someday his

957
00:55:18,560 --> 00:55:22,040
Speaker 13: family will join him there, and they're having a great

958
00:55:22,120 --> 00:55:25,320
Speaker 13: time up there in heaven with Frank because there's plenty

959
00:55:25,360 --> 00:55:28,480
Speaker 13: of jokes, there's plenty of great stories, there's plenty of

960
00:55:28,520 --> 00:55:34,719
Speaker 13: reverence and awe about God and Christ. And we know

961
00:55:34,760 --> 00:55:37,320
Speaker 13: we're going to see Frank someday if I'm fortunate enough

962
00:55:37,840 --> 00:55:39,360
Speaker 13: to be there. I hope he puts it in a

963
00:55:39,360 --> 00:55:42,479
Speaker 13: good word for me. But it's a suddenness to life,

964
00:55:42,520 --> 00:55:45,160
Speaker 13: ladies and gentlemen. So if you ever feel it's time

965
00:55:45,200 --> 00:55:48,399
Speaker 13: to act, and you ever get that intuition it's time

966
00:55:48,440 --> 00:55:52,640
Speaker 13: to make a change, don't ignore it because that opportunity

967
00:55:52,719 --> 00:55:58,520
Speaker 13: might not exist forever. It might mean that opportunity missed

968
00:55:58,640 --> 00:56:02,600
Speaker 13: would be an opportunity loss. But as for me, ladies

969
00:56:02,640 --> 00:56:05,920
Speaker 13: and gentlemen, the way I see it, don't be ashamed.

970
00:56:06,200 --> 00:56:08,479
Speaker 13: If you don't want to take risk right now, you'll

971
00:56:08,480 --> 00:56:11,680
Speaker 13: find yourself maybe a little more comfortable if you give

972
00:56:11,719 --> 00:56:13,640
Speaker 13: yourself permission to have safe money.

973
00:56:19,920 --> 00:56:24,160
Speaker 3: I'm called Kelly Financial Services eight eight eight hundred eighteen

974
00:56:24,360 --> 00:56:24,959
Speaker 3: eighty one.

975
00:56:25,200 --> 00:56:30,000
Speaker 4: I'm Kelly Kelly from Kelly Financial. Whether you're in your sixties, seventies,

976
00:56:30,080 --> 00:56:33,600
Speaker 4: or eighties, financial advice is important when it comes to

977
00:56:33,680 --> 00:56:36,920
Speaker 4: preserving your nest egg. We have a free investor guide

978
00:56:36,960 --> 00:56:40,759
Speaker 4: called designing your Fiscal House to Weather the Elements, which

979
00:56:40,840 --> 00:56:44,719
Speaker 4: highlights the steps needed to build a balanced portfolio. For

980
00:56:44,800 --> 00:56:47,880
Speaker 4: the guide, call eight eight eight eight hundred eighteen eighty

981
00:56:47,920 --> 00:56:51,680
Speaker 4: one or email Kelly at Kellyfinancial dot org.

982
00:56:51,920 --> 00:56:55,080
Speaker 5: We're Kelly Financial. Come retire with us.

983
00:56:55,360 --> 00:57:00,080
Speaker 3: Safe money strategies with William Kelly and Kelly Kelly. Go

984
00:57:00,239 --> 00:57:02,160
Speaker 3: to kelly financial dot org