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Speaker 1: It 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 and practical advice.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Speaker 2: Kelly Junior.

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

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Speaker 3: hundred eighteen eighty one.

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

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

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

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

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

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

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Speaker 4: and our family and what really matters most when you're

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

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Speaker 4: but it's always real.

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Speaker 5: Good morning, William, how are you mom?

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Speaker 1: I'm fantastic, Thank you for asking.

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Speaker 2: And I'm sitting here in our recording studio and I'm

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Speaker 2: looking at order confirmation forum for William Kelly.

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Speaker 1: Do you know what that means? Do you want to

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Speaker 1: tell the listeners?

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Speaker 4: It means the book has been published and go into

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Speaker 4: prant Yeah.

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Speaker 1: Baby, so we're very excited for that. It's been a

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Speaker 1: very eventful week.

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Speaker 5: Has it not, Yes, it has.

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Speaker 2: So I'm sure some of you remember that last Saturday

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Speaker 2: I spoke about my powerlifting.

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Speaker 1: Competition, and you know, I'm not gonna lie. I was

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Speaker 1: a little nervous going up to it. It turned out

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Speaker 1: that it was a really good day.

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Speaker 2: So in the morning you get there for rules briefing

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Speaker 2: and then it's squat time, and so you start with

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Speaker 2: your squat.

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Speaker 1: You have three attempts.

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Speaker 2: The highest lift I got was five hundred and twelve

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Speaker 2: pounds good lift, state record.

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Speaker 4: Then for the.

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Speaker 1: Bench press, I didn't make my third attempt.

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Speaker 2: I made my second attempt, which was three fifteen three

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Speaker 2: hundred and fifteen pounds, also a state record. And then

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Speaker 2: finally for the deadlifts. I am a deadlift specialist. For

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Speaker 2: those who are not familiar with the deadlift, the weight

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Speaker 2: is on the ground, the bar bell is on the

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Speaker 2: ground with the plates attached, and your goal is to

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Speaker 2: lift it up and lock out your hips. So you

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Speaker 2: basically you bend down and you lift it up standing straight.

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Speaker 2: You don't bend down with the curved back. You've been

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Speaker 2: down with the straight back, and you lift with your

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Speaker 2: knees and all of that. So with proper form you

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Speaker 2: can do it safely. And I got six hundred pounds,

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Speaker 2: ladies and gentlemen, and I set a stid record and

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Speaker 2: I'm a second time state champion again.

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Speaker 4: Congratulations, thank you very much. And I think it was

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Speaker 4: six hundred and one pounds. Thank you for correcting me.

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Speaker 1: So that was six hundred and one pounds.

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Speaker 4: You said you were going to try for the six hundred.

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Speaker 4: I looked at your trainers and said, is this safe?

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Speaker 5: That was the first thing out of my mouth.

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Speaker 2: And one of them, one of the people who are there,

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Speaker 2: one of our friends, he goes, I don't know, we're

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Speaker 2: gonna find out.

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Speaker 4: Well, and the other one said, he's been training for this,

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Speaker 4: he's ready.

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Speaker 1: It was a wonderful day.

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Speaker 2: I made a lot of friends and over in general

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Speaker 2: fitness of Fall River, fantastic people, great community.

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Speaker 1: I got to wrap Bullfrog Fit. That was great. That's

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Speaker 1: the gym where I'd like.

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Speaker 2: To work at for a part time job and as

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Speaker 2: a powerlifting trainer. And so part of this was also

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Speaker 2: kind of building rapport. You know, I wanted to go

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Speaker 2: out and compete and kind of stamp my name a

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Speaker 2: little bit more into the power loafing community. And all

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Speaker 2: the refs were saying, yeah, you're coming back. You're coming back,

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Speaker 2: that's a fact. And so I've just been so blessed

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Speaker 2: to have this sport introduced to me. I'm so blessed

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Speaker 2: to just you know, have amazing people by my side.

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Speaker 2: I would say that the support did fifty percent of

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Speaker 2: the lifting. The other fifty percent was the training and

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Speaker 2: hard work and the muscles. So I really am blessed

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Speaker 2: to have this type of family and to have this

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Speaker 2: type of you know, this community.

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Speaker 5: It's we're all very proud of you.

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Speaker 2: Thank you very much. And as we know, the dav

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Speaker 2: event had just happened. That was a wonderful time. It

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Speaker 2: was great to see Jeff. It was good to represent

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Speaker 2: Kelly Financial Services. So I had to leave at five

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Speaker 2: point forty five and make it to iHeart Studios in

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Speaker 2: one piece and awake, and I did it somehow.

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Speaker 5: Yes you did.

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Speaker 1: That was a lot of fun. It was greased for everybody.

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Speaker 2: And finally, today is the day where I go to

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Speaker 2: Bryant open house. Ladies and gentlemen, I'm going to college

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Speaker 2: to get more knowledge.

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Speaker 1: We're going to Bryan's open house tonight.

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Speaker 2: We're going to check out the school a little bit closer,

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Speaker 2: you know, probably meet some students and you know, we'll

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Speaker 2: see what.

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Speaker 1: Type of thing they have going on there.

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Speaker 2: But honestly, all in all, I've applied to a bunch

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Speaker 2: of different schools, good schools. I think Bryant University is

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Speaker 2: a place I want to go. I feel like I'm

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Speaker 2: locked in there. But you know what, before we you know,

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Speaker 2: put like a down payment or anything like that, I

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Speaker 2: think we need to go and check it out.

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Speaker 5: Yes, yes, so, yes.

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Speaker 1: Which we already have. We've gone on a tour.

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Speaker 2: But it'd be good to be there at a different

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Speaker 2: time of the year and to kind of see it

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Speaker 2: while it's in busy season where everybody's act.

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Speaker 1: So yeah, that would be much better.

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Speaker 2: Yeah, and uh sign it for you, thank you, And

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Speaker 2: ladies and gentlemen, my mom is going to go work out.

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Speaker 2: She's going to start training at the gym where I

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Speaker 2: want to work. Are you excited? I am excited.

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Speaker 1: This is gonna be a change. There's gonna be a

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Speaker 1: life lifestyle change for you.

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Speaker 5: Yes.

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Speaker 1: So, ladies and gentlemen.

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Speaker 2: During the weekdays this week, I had done some shadow

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Speaker 2: hours and I'd worked with some older clients and these

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Speaker 2: folks were in their late seventies, mid eighties. And these

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Speaker 2: people are going to the gym and they're doing functional training.

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Speaker 2: They're doing squats, they're doing overhead presses, they're using machines.

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Speaker 2: And four to six months previous, they couldn't even sit down.

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Speaker 1: And get back up independently. And now they're doing all

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Speaker 1: these things.

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Speaker 2: Wow, And so you know there's more delivering extremely seeing

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Speaker 2: it firsthand. Extremely these people at this gym, they don't

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Speaker 2: just take into account the exercise, but they also take

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Speaker 2: into account the lifestyle, the nutrition, and they live it themselves.

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Speaker 2: Like I have to do a trainer test, I have

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Speaker 2: to do a physical fitness test, which is very intense.

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Speaker 2: I have to do a full comprehensive test. So I

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Speaker 2: have to understand material. I have to understand how to

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Speaker 2: put someone in a deficit. I need to understand programming, nutrition,

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Speaker 2: the major muscle groups in the body, and the scientific

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Speaker 2: name how they work. So it's a lot and I

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Speaker 2: have to learn. And I can't get a single thing wrong.

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Speaker 2: I have to do everything correct on the comprehensive test,

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Speaker 2: and I cannot fail anything on the fitness test or

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Speaker 2: elet to have to start all.

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Speaker 1: The way over and wait three months.

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Speaker 5: Wow.

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Speaker 1: So it's just like taking the Series sixty five. You've

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Speaker 1: got to wait. He has a high standard for the

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Speaker 1: people who work there. It's very high. So I can

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Speaker 1: see that it's cool.

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Speaker 5: I can see. Yes, that does not surprise me though.

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Speaker 4: Well, William, you are working towards being the full package

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Speaker 4: on the finance side, the health side. I mean full package, baby,

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Speaker 4: thank you.

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Speaker 1: I've still got a lot of work to do.

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Speaker 2: I got a lot of work to do in my

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Speaker 2: company's got a lot of work to do with my powerlifting.

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Speaker 1: I got some records.

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Speaker 2: I want to go national. I want to break some

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Speaker 2: national records if I can get up there.

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Speaker 5: So I don't know, know, Well, you're wise with your time.

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Speaker 4: You spend a lot of time on Kelly Financial and

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Speaker 4: you amaze me.

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Speaker 1: Thank you, well, you made me so You're half the credit.

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Speaker 4: Well, thank you, William of course. Yeah, do keep us

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

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

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Speaker 4: share how to turn required distributions into charitable giving and

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Speaker 4: how to ease financial stress and retirement. Mary, Madeline Kelly

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Speaker 4: and Greg Murray will tackle the RMD season head on

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Speaker 4: sharing smart YearIn strategies to help you avoid costly mistakes

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Speaker 4: and make the most of your retirement income. I will

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Speaker 4: be back with William and we will talk about confidence, clarity,

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Speaker 4: and living solo with strength, from housing and budgeting to purposeful.

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Speaker 5: Planning for the road ahead.

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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, thanks, thank you

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Speaker 4: for joining me.

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Speaker 5: We'll be back with more great content. I love you, honey, I.

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Speaker 1: Love you too.

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

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Speaker 6: Okay, my friends, we all talk about planning for retirement,

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Speaker 6: but let's be honest. For most people, it's not the

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Speaker 6: numbers that keep you up at night.

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Speaker 1: It's the fear.

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Speaker 6: Fear of the market, fear of outliving your savings, fear

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Speaker 6: of the unknown. And that's why Kelly Kelly, the CEO

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Speaker 6: of Kelly Financial Services, wrote the book Retire Your Fear,

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Speaker 6: Plan Your Future.

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Speaker 1: It is not your.

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Speaker 6: Typical financial guide full of industry jargon. It's about the

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Speaker 6: reality so many retirees face life changes like widowhood, longevity,

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Speaker 6: even planning for your own future and how to navigate

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Speaker 6: them with clarity and confidence. For more than two decades,

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Speaker 6: Financial has helped you England families prepare for retirement through

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Speaker 6: education and sound financial planning. Now Kelly has gathered that

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Speaker 6: insight into one easy to read book, So take the

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Speaker 6: next step toward understanding your options. Call Kelly Financial now

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Speaker 6: eight eight eight eight hundred eighteen eighty one get your

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Speaker 6: free copy of Retire Your Fear, Plan Your Future eight

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

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Speaker 6: at Kelly Financial dot org.

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Speaker 7: Welcome back to Safe Money Strategies, the show where we

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Speaker 7: talk about building retirement plans that work just as hard

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Speaker 7: as you do. I'm Mike du said, chief operating officer

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Speaker 7: at Kelly Financial Services, and I'm.

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Speaker 8: Greg Workman and investment advisor here at Kelly Financial. Today, Mike,

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Speaker 8: we're going to talk about something that's both financially smart

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Speaker 8: and personally rewarding. Qualified charitable distributions or qcds.

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Speaker 1: That's right, Greg.

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Speaker 7: This time of the year, we get a lot of

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Speaker 7: questions from clients about charitable giving and tax strategies, and

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Speaker 7: one tool that tends to get overlooked but can make

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Speaker 7: a huge difference is the QCD.

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Speaker 8: For listeners who may not have heard the term before it,

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Speaker 8: qualified charitable distribution is a way for individuals age seventy

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Speaker 8: and a half or older to give directly from their

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Speaker 8: IRA to a charity without that money ever being counted

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Speaker 8: as taxable income exactly.

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Speaker 1: And that last part is key.

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Speaker 7: Normally, once you reach age seventy three, the IRS requires

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Speaker 7: you to start taking required minimum distributions or rmds from

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Speaker 7: your IRA. Even if you don't need the money, you

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Speaker 7: have to take it and it's taxable, right.

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Speaker 8: So for some retirees, those rm ds can push them

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Speaker 8: into a higher tax bracket. They can even trigger phase

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Speaker 8: outs on deductions or cause more of your Social Security

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Speaker 8: income to become taxable, but.

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Speaker 7: With a QCD, instead of taking the distribution yourself, you

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Speaker 7: can have up to one hundred eight thousand per year.

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Speaker 1: Go directly qualified charity.

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Speaker 7: That means you satisfy your RMD but avoid the tax

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Speaker 7: hit because the money never passes through your hands.

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Speaker 8: And that one hundred and eight thousand dollars limit is

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Speaker 8: per person, not per account, So if you and your

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Speaker 8: spouse both have IRA accounts, you can each make qcds

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Speaker 8: up to that limit, potentially donating a combined two hundred

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Speaker 8: and sixteen thousand and a single year.

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Speaker 7: Now, Greg, let's break down how this works in practice.

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Speaker 7: The IRA custodian, Save Fidelity, Schwab or whoever holds your

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Speaker 7: account can send the money straight to the charity, either

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Speaker 7: electronically or by mailing a check.

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Speaker 8: And it's important that the transfer goes directly from the

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Speaker 8: IRA to the charity. If the funds come to you

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Speaker 8: first and then you write a check to the charity,

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Speaker 8: it does not count as a QCD and it becomes

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Speaker 8: taxable income.

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Speaker 1: Exactly, and timing matters too.

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Speaker 7: Just like an rm D, the distribution has to be

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Speaker 7: completed by December thirty first, for it to count toward

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Speaker 7: that year's requirement. So if you're thinking about doing one

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Speaker 7: for twenty twenty five, don't wait until last week of

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Speaker 7: December to start the process.

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Speaker 8: Now, let's talk about eligibility. Who can actually do this? Well,

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Speaker 8: you have to be at least seventy and a half

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Speaker 8: years old at the time the distribution is made. That's

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Speaker 8: not the year you turned seventy and a half, it's

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Speaker 8: literally after you reach that age.

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Speaker 7: And qcds can be made from traditional iras, inherited iras,

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Speaker 7: or even certain inactive SEP or simple iras. Those are

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Speaker 7: employer plans that no longer receive contributions, but you can't

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Speaker 7: do qcds from active employer plans like four to oh

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Speaker 7: one ks or active SEPs.

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Speaker 8: Another key point is that qcds only work with qualified

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Speaker 8: charities organizations recognized by the IRS under Section five oh

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Speaker 8: one C three, So that includes most public charities, religious organizations,

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Speaker 8: and educational institutions, but.

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Speaker 7: Not everything that looks like a charity qualifies. You can't

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Speaker 7: make a QCD to donor advised funds, private foundations, or

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Speaker 7: supporting organizations. You also can't use a QCD to buy

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Speaker 7: something from a charity auction or pay a golf outing.

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Speaker 8: That's right. You can't receive anything of value in return

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Speaker 8: for your donation. If you get a dinner, tickets, or

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Speaker 8: merchandise in exchange, that portion does not qualify.

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Speaker 7: Let's touch on one of the biggest reasons people use qcds.

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Speaker 7: It's about managing your taxable income even if you're giving

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Speaker 7: you charity already. Doing it through a QCD can keep

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Speaker 7: your adjusted gross income lower. That's important because a lower

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Speaker 7: AGI can affect everything from Medicare premiums to the taxation

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Speaker 7: of Social Security benefits.

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Speaker 8: And for retirees who don't itemize their deductions anymore since

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Speaker 8: the standard deduction increased after the twenty seventeen tax law,

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Speaker 8: a QCD can be especially valuable. You get the benefit

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Speaker 8: of charitable giving without the need to itemize.

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Speaker 1: That's a great point.

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Speaker 7: A lot of retirees give generously but don't see a

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Speaker 7: tax benefit because their standard deduction is higher than their

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Speaker 7: total itemized deductions. With a QCD, the money doesn't show

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Speaker 7: up as income in the first place, so you get

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Speaker 7: a direct benefit.

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Speaker 8: Another advantage is that making qcds can gradually reduce the

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Speaker 8: size of your IRA. That means your required minimum distributions

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Speaker 8: in future years may also be smaller.

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Speaker 1: It's like a double benefit.

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Speaker 7: You're supporting causes you care about, and you're reducing your

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Speaker 7: long term tax burden on your retirement accounts.

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Speaker 8: But as always, there are some limitations to keep in mind.

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Speaker 8: You can make a QCD larger than your R and

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Speaker 8: D for the year, but you can't carry the extra

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Speaker 8: amount forward to future years.

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Speaker 1: And you can't double dip on tax benefits.

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Speaker 7: If you make a QCD, you can't also claim it

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Speaker 7: as a charitable deduction. You're already getting the tax benefit

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Speaker 7: by keeping it out of your income.

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Speaker 8: Another important distinction is between federal and state tax treatment.

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Speaker 8: Most states follow federal rules, but not all, so it's

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Speaker 8: worth checking with your tax preparer to confirm how your

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Speaker 8: state handles qualified charitable distributions.

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Speaker 7: And while the process sounds simple, Greg, you and I

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Speaker 7: both know this is one of those areas where the

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Speaker 7: details matter. A wrong step like taking the distribution into

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Speaker 7: your checking account, can make the whole transaction taxable.

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Speaker 8: That's why we always tell our clients coordinate with your

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Speaker 8: financial advisor, your IRA custodian, and your tax professional before

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Speaker 8: initiating a QCD.

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Speaker 7: Exactly done correctly, it's one of the most tax efficient

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Speaker 7: ways to give, and as Fideli pointed out in their article,

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Speaker 7: it can allow people to make larger gifts than they

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Speaker 7: could through regular cash donations because those AGI limits on

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Speaker 7: charitable deductions don't apply here.

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Speaker 8: So if you're seventy and a half in older and

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Speaker 8: you don't need all the income from your IRA, but

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Speaker 8: you're passionate about supporting certain causes, QUCD might be one

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Speaker 8: of the smartest moves you can make before year end.

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Speaker 7: When we come back after the break, we'll switch gears

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Speaker 7: and focus on a recent Kiplinger study that found stresses

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Speaker 7: on the rise from many retirees.

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Speaker 1: Stick with us. You're listening to safe money strategies with

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Speaker 1: Mike two said in Great Workmen, We'll.

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Speaker 5: Be right back.

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

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Speaker 3: that this nation should commit it so achieving.

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Speaker 7: The goal of landing a man on the Moon and

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Speaker 7: returning him safely to the Earth six five, four, three

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Speaker 7: two one zero All engine round, look down a follow eleven.

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Speaker 9: Remember those Apollo Moon missions, one of America's greatest adventures

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00:18:51,720 --> 00:18:52,640
Speaker 9: and achievements.

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Speaker 5: Too.

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Speaker 9: The nation set a goal and then realized it. What

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Speaker 9: are your goals? At Kelly Financial Services. We've got the

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00:19:01,080 --> 00:19:05,120
Speaker 9: right team and technology to help launch your retirement planning.

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Speaker 9: Let us help you set and reach your goals for

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Speaker 9: your greatest adventure and achievement. Call us at eight eight

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Speaker 9: eight eight hundred eighteen eighty one or visit us at

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Speaker 9: Kelly Financial dot org. Where do you want to land?

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Speaker 9: We're Tankuality Vapor Being have landed. We are Kelly Financial Services.

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Speaker 9: Come retire with us.

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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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00:19:34,640 --> 00:19:38,880
Speaker 4: act in your best interest? My complimentary book, Retire Your Fear,

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00:19:39,000 --> 00:19:42,440
Speaker 4: Plan Your Future explains what a fiduciary is and will

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00:19:42,480 --> 00:19:46,159
Speaker 4: help you understand if an advisor is really putting you first.

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Speaker 4: For the book, call eight eight eight eight hundred eighteen

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Speaker 4: eighty one or email Kelly at Kellyfinancial dot org.

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

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

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Speaker 3: and Mary Madeline Kerry.

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Speaker 10: Hello, this is Greg Murray, singing 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 Madeline Kelly One of our wealth advisors. How are

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Speaker 10: you doing today?

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Speaker 8: Hi? Greg?

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Speaker 11: I am doing great. The New York City Marathon last

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Speaker 11: weekend was a huge success and my friend did even

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Speaker 11: better than she expected to. This course is extremely difficult,

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Speaker 11: so I am super proud of her.

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Speaker 1: Next up is Tokyo next year.

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Speaker 10: That sounds like a fantastic avenger. Will you be joining

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Speaker 10: her for this marathon as well? And more importantly, is

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Speaker 10: this marathon during ski season? I hear the skiing in

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Speaker 10: Japan is amazing.

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Speaker 11: Absolutely not maybe someday, but not today, And yes it is.

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Speaker 11: My friend is not ski so I don't think I'll

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Speaker 11: be skiing in Japal this trip, unfortunately, but I'll definitely

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Speaker 11: be getting in as much New England pale as possible. Now,

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Speaker 11: moving on to an especially important subject because we're nearing

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Speaker 11: the end of the year, which means it's R and

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Speaker 11: D season. We're talking about required minimum distributions and the

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Speaker 11: big mistakes retirees to avoid so they don't end up

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Speaker 11: paying unnecessary taxes or penalties.

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Speaker 10: That's right, Once you reach a certain age currently seventy

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Speaker 10: three under the latest rules, the IRS requires you start

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Speaker 10: taking money out of your traditional retirement accounts like iras

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Speaker 10: and four to one case. Whether you need that income

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Speaker 10: or not, the government wants to collect their tax dollars on.

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Speaker 11: It exactly, and if you don't take the right amount

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Speaker 11: before the deadline, which is December thirty first each year,

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Speaker 11: you could face a pretty big penalty. That's why this

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Speaker 11: time of the year is so important for retirees to

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Speaker 11: double check their rm ds and their strategy.

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Speaker 10: So let's talk about some of the biggest rm D

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Speaker 10: mistakes to avoid. Mistake number one, missing your deadline. The

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Speaker 10: IRS can charge up to a twenty five percent penalty

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Speaker 10: on the amount you should have taken out. That's one

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Speaker 10: of the steepest penalties out there.

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Speaker 11: Yes, and it often happens with that very first r

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Speaker 11: and D Because the rule can be confusing. You're allowed

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Speaker 11: to delay your first one until April first of the

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Speaker 11: following year, but if you do, you'll likely end up

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Speaker 11: taking two r and ds in the same year, doubling

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Speaker 11: your income and potential taxes.

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Speaker 1: Which brings us to mistake number two. Not planning for taxes.

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Speaker 10: Rm d's count is income, and if you're already receiving

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Speaker 10: Social Security or pension benefits, those extra dollars can push

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Speaker 10: you into a higher tax bracket, or increase your Medicare

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Speaker 10: premiums exactly.

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Speaker 11: Sometimes spacing out withdrawals throughout the year or coordinating them

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Speaker 11: with other income sources can help manage that tax hit

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Speaker 11: more efficiently.

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Speaker 10: Mistake number three forgetting about old accounts. Many retirees have

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Speaker 10: a four oh one K from a former employer or

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Speaker 10: multiple irays scattered around. You aren't responsible for calculating each account.

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Speaker 5: Properly, right, And here's a key rule.

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Speaker 11: You can combine IRA R and DS and withdrawal from

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Speaker 11: just one IRA if you want, but each four oh

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Speaker 11: one K must have its own separate R and D

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Speaker 11: and that one catches a lot of people by surprise.

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Speaker 10: Mistake number four overlooking sposal planning opportunities. If you're suposed

445
00:22:50,240 --> 00:22:53,040
Speaker 10: is more than ten years younger and the sole beneficiary,

446
00:22:53,200 --> 00:22:56,119
Speaker 10: the highers allows a different calculation that can reduce the

447
00:22:56,160 --> 00:22:57,280
Speaker 10: annual rm D amount.

448
00:22:57,400 --> 00:22:58,320
Speaker 5: That's a great point.

449
00:22:58,359 --> 00:23:02,399
Speaker 11: And then there's mistake number five missing charitable opportunities for

450
00:23:02,440 --> 00:23:05,840
Speaker 11: anyone who likes to support charities using a QCD. A

451
00:23:05,960 --> 00:23:09,840
Speaker 11: qualified charitable distribution is a fantastic tool. Once you turn

452
00:23:10,000 --> 00:23:11,760
Speaker 11: seventy into half yes, and.

453
00:23:11,720 --> 00:23:14,080
Speaker 10: When you give directly from your IRA to a charity.

454
00:23:14,200 --> 00:23:17,159
Speaker 10: That amount can count towards your RMD without increasing your

455
00:23:17,200 --> 00:23:19,320
Speaker 10: taxable income. It's a win win if you don't need

456
00:23:19,320 --> 00:23:21,520
Speaker 10: the entire distribution for your own expenses.

457
00:23:21,800 --> 00:23:24,640
Speaker 11: Exactly, a smart R and D plan can reduce taxes,

458
00:23:24,800 --> 00:23:28,720
Speaker 11: protect social Security benefits, and help manage Medicare costs, all

459
00:23:28,720 --> 00:23:30,639
Speaker 11: while ensuring you don't face penalties.

460
00:23:30,720 --> 00:23:33,320
Speaker 10: So to recap the top RMD mistakes so avoid and

461
00:23:33,359 --> 00:23:37,400
Speaker 10: retirement are one missing the year end deadline, two ignoring

462
00:23:37,440 --> 00:23:41,400
Speaker 10: the tax impact, three for getting older retirement accounts. Four

463
00:23:41,640 --> 00:23:46,120
Speaker 10: not coordinating with sposal rules. Five overlooking charitable giving strategies.

464
00:23:46,200 --> 00:23:48,960
Speaker 11: Perfectly said in the good News, every one of these

465
00:23:49,000 --> 00:23:52,800
Speaker 11: mistakes can be prevented with good planning and guidance, especially

466
00:23:52,840 --> 00:23:55,280
Speaker 11: if you catch them before December thirty first, that's.

467
00:23:55,200 --> 00:23:57,639
Speaker 10: Right, So if you're approaching RMD age or you're already

468
00:23:57,640 --> 00:23:59,720
Speaker 10: taking distributions and want to be sure you're doing the

469
00:23:59,800 --> 00:24:01,840
Speaker 10: right thing, come see as at Kelly Financial.

470
00:24:01,960 --> 00:24:04,520
Speaker 11: We can help you build a smart, tax efficient withdrawal

471
00:24:04,520 --> 00:24:08,040
Speaker 11: strategy so you can enjoy your retirement with confidence, not

472
00:24:08,240 --> 00:24:10,320
Speaker 11: anxiety about IRS penalties.

473
00:24:10,600 --> 00:24:12,880
Speaker 10: Exactly. That's going to wrap things up today. I hope

474
00:24:12,880 --> 00:24:14,040
Speaker 10: you enjoy the rest of your weekend.

475
00:24:14,200 --> 00:24:15,240
Speaker 11: Thanks Greg, you too.

476
00:24:15,560 --> 00:24:18,800
Speaker 3: To get in touch with Greg Murray or Mary, Madeline Kelly,

477
00:24:19,119 --> 00:24:22,400
Speaker 3: or any member of the Kelly Financial team called at

478
00:24:22,720 --> 00:24:30,320
Speaker 3: eight eight hundred, eighteen eighty one. Safe Money Strategies with

479
00:24:30,359 --> 00:24:33,880
Speaker 3: William Kelly and Kelly Kelly call the team on eight

480
00:24:34,160 --> 00:24:40,920
Speaker 3: eight eight hundred, eighteen eighty one.

481
00:24:41,320 --> 00:24:47,320
Speaker 4: When we becomes me, everything changes your day's, your decisions,

482
00:24:47,359 --> 00:24:50,399
Speaker 4: and even your sense of who you are. I'm Kelly

483
00:24:50,560 --> 00:24:54,320
Speaker 4: Kelly and this is Safe Money Strategies. I'm here with

484
00:24:54,400 --> 00:24:58,800
Speaker 4: my son, William Kelly Junior, and today we're talking about

485
00:24:58,840 --> 00:25:02,960
Speaker 4: how your retirement plan and your outlook can shift when

486
00:25:03,000 --> 00:25:04,840
Speaker 4: you find yourself on your own.

487
00:25:05,200 --> 00:25:05,440
Speaker 1: Mom.

488
00:25:05,520 --> 00:25:07,520
Speaker 2: That's such a powerful topic and I think a lot

489
00:25:07,520 --> 00:25:10,440
Speaker 2: of listeners can relate. Maybe they've lost a spouse, maybe

490
00:25:10,480 --> 00:25:13,200
Speaker 2: they're divorced, or maybe they've just lived independently for years,

491
00:25:13,440 --> 00:25:15,600
Speaker 2: but it's true, being on your own in retirement can

492
00:25:15,640 --> 00:25:18,080
Speaker 2: feel different, both emotionally and financially.

493
00:25:18,640 --> 00:25:23,679
Speaker 4: Absolutely, and I can speak from experience. When Bill passed

494
00:25:23,680 --> 00:25:27,399
Speaker 4: away eight years ago, I was fifty five years old.

495
00:25:27,920 --> 00:25:32,000
Speaker 4: I went from running a business with my husband to

496
00:25:32,200 --> 00:25:37,480
Speaker 4: managing that same business alone and raising two children.

497
00:25:37,800 --> 00:25:38,280
Speaker 5: William.

498
00:25:38,800 --> 00:25:43,080
Speaker 4: You were only eleven years old, and it was a

499
00:25:43,080 --> 00:25:47,400
Speaker 4: season of change that tested everything I knew about planning,

500
00:25:47,480 --> 00:25:52,320
Speaker 4: about purpose, and about faith. What I learned is that

501
00:25:52,400 --> 00:25:58,040
Speaker 4: when life shifts suddenly, it's not just your income that changes,

502
00:25:58,520 --> 00:26:03,120
Speaker 4: it's your identity. You go from we to me, and

503
00:26:03,200 --> 00:26:06,760
Speaker 4: that can shake even the most organized person.

504
00:26:07,320 --> 00:26:10,359
Speaker 2: Yes, and I've watched you rebuild them, not overnight, but

505
00:26:10,400 --> 00:26:12,680
Speaker 2: step by step. And that's what I hope people take

506
00:26:12,720 --> 00:26:15,920
Speaker 2: away from today's show. Whether you're widowed, divorced, or single

507
00:26:15,960 --> 00:26:18,720
Speaker 2: by choice, you can find stability again. It just takes

508
00:26:18,720 --> 00:26:22,840
Speaker 2: a plan and courage to face what's next. That's exactly right.

509
00:26:23,280 --> 00:26:27,280
Speaker 4: A twenty twenty five Fidelity study showed that sixty seven

510
00:26:27,359 --> 00:26:32,720
Speaker 4: percent of Americans say their confidence in retirement planning has dropped.

511
00:26:33,200 --> 00:26:36,800
Speaker 4: And that's the sign of how much uncertainty people feel

512
00:26:36,880 --> 00:26:42,520
Speaker 4: right now. But the good news is planning restores control.

513
00:26:42,880 --> 00:26:45,200
Speaker 4: It gives you a sense of direction.

514
00:26:45,640 --> 00:26:46,000
Speaker 5: Again.

515
00:26:46,800 --> 00:26:50,439
Speaker 4: You can't plan for what you won't face, but once

516
00:26:50,520 --> 00:26:53,920
Speaker 4: you face it, you really can plan for anything.

517
00:26:54,480 --> 00:26:56,320
Speaker 2: So where does someone start if they've always had a

518
00:26:56,320 --> 00:26:58,879
Speaker 2: spouse handled the financial side, Because I know that's a

519
00:26:58,920 --> 00:27:00,000
Speaker 2: reality for a lot of cops.

520
00:27:00,520 --> 00:27:04,880
Speaker 4: It is many women and men to have deferred those

521
00:27:05,040 --> 00:27:10,000
Speaker 4: long term financial decisions to their partner. But once you're

522
00:27:10,040 --> 00:27:13,280
Speaker 4: on your own, that's the time to step forward and

523
00:27:13,400 --> 00:27:18,640
Speaker 4: take ownership. Confidence grows when you understand where your income

524
00:27:18,760 --> 00:27:25,000
Speaker 4: will come from social Security, pensions, savings, or investments. Start

525
00:27:25,040 --> 00:27:28,720
Speaker 4: by making a simple list. Write down what's coming in

526
00:27:28,960 --> 00:27:30,840
Speaker 4: and what's going out each month.

527
00:27:31,359 --> 00:27:34,440
Speaker 5: Is not about perfection, is about awareness.

528
00:27:34,840 --> 00:27:35,600
Speaker 1: That's good advice.

529
00:27:35,720 --> 00:27:38,080
Speaker 2: And I saw a smart Asset study from twenty twenty

530
00:27:38,119 --> 00:27:40,199
Speaker 2: four that said forty percent of women who work with

531
00:27:40,240 --> 00:27:43,720
Speaker 2: a financial advisor feel very prepared for retirement. That's a

532
00:27:43,760 --> 00:27:46,320
Speaker 2: big difference compared to those trying to go it alone.

533
00:27:46,600 --> 00:27:48,119
Speaker 2: So guidance really does matter.

534
00:27:48,359 --> 00:27:50,920
Speaker 5: It does, and so does mindset.

535
00:27:51,400 --> 00:27:57,080
Speaker 4: You know, money anxiety often hide something deeper, grief, guilt,

536
00:27:57,440 --> 00:28:01,320
Speaker 4: or just fear of getting it wrong. I encourage people

537
00:28:01,359 --> 00:28:06,360
Speaker 4: to ask themselves a simple question, am I avoiding, assuming,

538
00:28:06,640 --> 00:28:10,679
Speaker 4: or acting only one of those leads to progress. You

539
00:28:10,800 --> 00:28:13,760
Speaker 4: don't have to be fearless, you just have to take

540
00:28:13,800 --> 00:28:15,200
Speaker 4: the next right step.

541
00:28:15,560 --> 00:28:17,800
Speaker 1: I love that line, the next right step.

542
00:28:18,000 --> 00:28:20,480
Speaker 2: It reminds me of how planning isn't just about numbers,

543
00:28:20,680 --> 00:28:23,679
Speaker 2: It's about getting your footing back emotionally exactly.

544
00:28:24,080 --> 00:28:28,800
Speaker 4: It's about rebuilding confidence, and faith plays a big role

545
00:28:28,840 --> 00:28:34,119
Speaker 4: in that. For me, faith turned fear into focus. Once

546
00:28:34,240 --> 00:28:38,720
Speaker 4: fear gives way to faith, planning becomes an act of courage.

547
00:28:39,120 --> 00:28:44,240
Speaker 4: And that's true whether you're creating a new budget, updating beneficiaries,

548
00:28:44,600 --> 00:28:47,200
Speaker 4: or just sitting down with an advisor for the first

549
00:28:47,200 --> 00:28:49,600
Speaker 4: time since your spouse passed away.

550
00:28:49,960 --> 00:28:52,000
Speaker 2: Right, and it's never too late to do that. Even

551
00:28:52,080 --> 00:28:55,640
Speaker 2: small steps like reviewing account ownerships, automatic payments, or updating

552
00:28:55,640 --> 00:28:58,440
Speaker 2: your financial calendar for the year can make a big difference.

553
00:28:58,720 --> 00:29:00,120
Speaker 5: They really can.

554
00:29:00,480 --> 00:29:04,560
Speaker 4: In fact, the more you organize, the freer you'll feel.

555
00:29:05,040 --> 00:29:09,680
Speaker 4: A recent nationwide study found that forty six percent of

556
00:29:09,800 --> 00:29:14,680
Speaker 4: single investors believe they'll need six hundred thousand dollars to retire,

557
00:29:15,120 --> 00:29:17,480
Speaker 4: but only eighteen percent.

558
00:29:17,120 --> 00:29:18,680
Speaker 5: Have saved that.

559
00:29:18,680 --> 00:29:23,320
Speaker 4: That's why planning early and planning realistically matters so much,

560
00:29:23,880 --> 00:29:27,520
Speaker 4: and that's where an advisor comes in. A good advisor

561
00:29:27,680 --> 00:29:29,880
Speaker 4: acts as a coach, not a controller.

562
00:29:30,280 --> 00:29:31,640
Speaker 5: They listen before.

563
00:29:31,360 --> 00:29:36,200
Speaker 4: They calculate, and they help you translate emotion into strategy

564
00:29:36,640 --> 00:29:42,640
Speaker 4: things like income longevity, survivor benefits, and tax smart withdrawals.

565
00:29:42,880 --> 00:29:45,040
Speaker 2: It's like having a second set of eyes or maybe

566
00:29:45,040 --> 00:29:45,720
Speaker 2: a study hint.

567
00:29:46,040 --> 00:29:48,360
Speaker 1: When you're trying to navigate your territory.

568
00:29:48,360 --> 00:29:48,960
Speaker 5: That's right.

569
00:29:49,120 --> 00:29:53,400
Speaker 4: When life changes, so should your plan and that's where

570
00:29:53,600 --> 00:29:58,080
Speaker 4: our team steps in. If you're navigating retirement on your own,

571
00:29:58,520 --> 00:30:02,560
Speaker 4: maybe for the first time, my book Retire Your Fear,

572
00:30:02,640 --> 00:30:07,400
Speaker 4: Plan Your Future was written for you. I devoted entire

573
00:30:07,560 --> 00:30:13,000
Speaker 4: sections to real life transitions like widowhood, gray divorce, and

574
00:30:13,160 --> 00:30:18,320
Speaker 4: funding your own retirement. Each chapter offers practical steps to

575
00:30:18,400 --> 00:30:23,000
Speaker 4: help you steady your emotions, find your footing, and replace

576
00:30:23,160 --> 00:30:27,880
Speaker 4: fear with focus. And remember, stepping into retirement alone doesn't

577
00:30:27,920 --> 00:30:33,360
Speaker 4: mean standing alone without knowledge, courage, and good counsel. Your

578
00:30:33,480 --> 00:30:37,320
Speaker 4: future is yours to shape and you're listening to Safe

579
00:30:37,320 --> 00:30:42,200
Speaker 4: Money Strategies on WRKO six eighty am. For more than

580
00:30:42,280 --> 00:30:46,760
Speaker 4: twenty two years, Kelly Financial Services has been helping New

581
00:30:46,760 --> 00:30:51,600
Speaker 4: England families protect what matters most. Call us at eight

582
00:30:51,640 --> 00:30:56,720
Speaker 4: eight eight eight hundred eighteen eighty one or visit Kellyfinancial

583
00:30:56,880 --> 00:30:57,640
Speaker 4: dot org.

584
00:30:58,080 --> 00:30:59,920
Speaker 5: We'll be right back after this.

585
00:31:00,080 --> 00:31:07,160
Speaker 3: US Safe Money Strategies brought to you by Kelly Financial Services.

586
00:31:07,400 --> 00:31:11,160
Speaker 3: Call eight at eight eight hundred eighteen eighty one or

587
00:31:11,240 --> 00:31:13,200
Speaker 3: visit Kellyfinancial dot org.

588
00:31:13,760 --> 00:31:17,720
Speaker 9: Ready to enjoy your golden years without worry. At Kelly Financial,

589
00:31:17,800 --> 00:31:21,160
Speaker 9: we know retirement planning can be overwhelming. With more than

590
00:31:21,200 --> 00:31:24,880
Speaker 9: twenty two years of experience, our friendly team of advisors

591
00:31:24,960 --> 00:31:28,120
Speaker 9: makes it easy and stress free. Trust us to help

592
00:31:28,160 --> 00:31:31,680
Speaker 9: you create a secure and enjoyable future. For a free

593
00:31:31,680 --> 00:31:35,959
Speaker 9: initial retirement consultation, call eight eight eight eight hundred eighteen

594
00:31:36,040 --> 00:31:39,800
Speaker 9: eighty one or email Kelly at Kelly Financial dot org.

595
00:31:40,000 --> 00:31:42,280
Speaker 9: We're Kelly Financial. Come retire with.

596
00:31:42,360 --> 00:31:47,280
Speaker 3: Us Safe Money Strategies with William Kelly and Kelly Kelly.

597
00:31:47,560 --> 00:31:55,360
Speaker 3: Call the team on at eight eight hundred eighteen eighty one.

598
00:31:52,600 --> 00:31:59,880
Speaker 4: Ye, welcome back to Save Money Strategies. I'm Kelly Kelly

599
00:32:00,360 --> 00:32:05,080
Speaker 4: here with my son, William Kelly Junior. Today we're continuing

600
00:32:05,160 --> 00:32:09,840
Speaker 4: our conversation about how your retirement plan changes when you're

601
00:32:09,920 --> 00:32:14,680
Speaker 4: on your own, and how to build not just financial stability,

602
00:32:14,960 --> 00:32:18,000
Speaker 4: but emotional strength and independence.

603
00:32:18,360 --> 00:32:20,200
Speaker 1: You know, mom, this topic has really hit home for

604
00:32:20,240 --> 00:32:20,920
Speaker 1: a lot of people.

605
00:32:21,120 --> 00:32:23,560
Speaker 2: After the break, I was looking at some research you mentioned,

606
00:32:23,560 --> 00:32:25,600
Speaker 2: and I saw that nearly twenty eight percent of Americans

607
00:32:25,640 --> 00:32:29,240
Speaker 2: over age sixty five now live alone. That's about sixteen

608
00:32:29,280 --> 00:32:32,000
Speaker 2: million people according to Kiplinger. That's a huge part of

609
00:32:32,040 --> 00:32:34,400
Speaker 2: the population navigating this stage of life solo.

610
00:32:35,000 --> 00:32:38,760
Speaker 4: It really is, and that number keeps growing every year.

611
00:32:39,560 --> 00:32:43,080
Speaker 4: So let's start with one of the biggest questions we hear,

612
00:32:43,680 --> 00:32:44,720
Speaker 4: where should I live?

613
00:32:45,720 --> 00:32:46,080
Speaker 8: Home?

614
00:32:46,400 --> 00:32:51,120
Speaker 4: Is more than just financial security, it's emotional security. But

615
00:32:51,280 --> 00:32:55,000
Speaker 4: there comes a time to ask, does my home still

616
00:32:55,040 --> 00:32:58,240
Speaker 4: fit my life? Or do I feel like I'm serving

617
00:32:58,280 --> 00:33:02,120
Speaker 4: the house instead of it me that's so true.

618
00:33:02,200 --> 00:33:04,240
Speaker 2: I've heard clients say that their house feels too big,

619
00:33:04,360 --> 00:33:06,640
Speaker 2: too quiet, or too much to take care of, but

620
00:33:06,680 --> 00:33:09,440
Speaker 2: they're afraid of the idea of downsizing, like it means

621
00:33:09,440 --> 00:33:11,360
Speaker 2: giving up something exactly.

622
00:33:11,600 --> 00:33:14,800
Speaker 4: I like to think of it not as downsizing but

623
00:33:15,080 --> 00:33:19,240
Speaker 4: right sizing, creating a home that fits your new season

624
00:33:19,320 --> 00:33:23,520
Speaker 4: of life. For some, that's a condo near family or

625
00:33:23,600 --> 00:33:27,800
Speaker 4: a smaller house that's easier to manage. For others, it

626
00:33:27,920 --> 00:33:33,360
Speaker 4: might mean exploring active adult communities or even shared living

627
00:33:33,480 --> 00:33:38,000
Speaker 4: arrangements with a trusted friend or relative. What matters is

628
00:33:38,040 --> 00:33:42,760
Speaker 4: that your home gives you comfort. It gives you community

629
00:33:43,080 --> 00:33:45,600
Speaker 4: and peace of mind, not stress.

630
00:33:46,280 --> 00:33:48,440
Speaker 2: And for a lot of people, that decision ties right

631
00:33:48,480 --> 00:33:51,680
Speaker 2: into budgeting right because housing is usually the biggest line

632
00:33:51,720 --> 00:33:52,680
Speaker 2: item in retirement.

633
00:33:53,000 --> 00:33:56,840
Speaker 4: It is, and that's why planning ahead makes all the difference.

634
00:33:57,200 --> 00:34:00,640
Speaker 4: When you're living on your own, every dollar needs direction.

635
00:34:01,240 --> 00:34:04,520
Speaker 4: One simple approach I like is the fifty to thirty

636
00:34:04,640 --> 00:34:09,320
Speaker 4: twenty rule. Fifty percent of your income for needs, thirty

637
00:34:09,360 --> 00:34:13,719
Speaker 4: percent for wants, and twenty percent for savings or debt reduction.

638
00:34:14,280 --> 00:34:17,319
Speaker 4: But of course that can be adjusted depending on your

639
00:34:17,360 --> 00:34:22,160
Speaker 4: stage of life and goals, and with inflation still impacting retirees,

640
00:34:22,600 --> 00:34:26,200
Speaker 4: is worth remembering that it now takes about twenty to

641
00:34:26,280 --> 00:34:29,800
Speaker 4: twenty two percent more than it did in twenty twenty

642
00:34:30,239 --> 00:34:32,520
Speaker 4: just to maintain that same lifestyle.

643
00:34:33,080 --> 00:34:34,720
Speaker 5: So every few months.

644
00:34:34,520 --> 00:34:41,600
Speaker 4: Reassess your spending, reassess your subscriptions, insurance, discretionary costs, and

645
00:34:41,680 --> 00:34:45,160
Speaker 4: make sure your money aligns with your priorities.

646
00:34:45,480 --> 00:34:47,359
Speaker 1: That's smart. It's not about restricting joy.

647
00:34:47,400 --> 00:34:49,200
Speaker 2: It's about making sure you know where your money goes

648
00:34:49,239 --> 00:34:51,200
Speaker 2: so you can decide where your life goes.

649
00:34:51,080 --> 00:34:58,480
Speaker 4: Exactly, and don't forget to budget for joy, travel, grandkids, hobbies, giving.

650
00:34:59,000 --> 00:35:02,839
Speaker 4: Those are the things that keep you feeling alive and connected.

651
00:35:03,480 --> 00:35:07,840
Speaker 4: But part of living solo and strong also means preparing

652
00:35:07,880 --> 00:35:11,320
Speaker 4: for the what ifs. A state and health care planning

653
00:35:11,440 --> 00:35:16,160
Speaker 4: are essential. The reality is that seventy percent of retirees

654
00:35:16,239 --> 00:35:20,160
Speaker 4: will need some form of long term care, and singles

655
00:35:20,280 --> 00:35:23,880
Speaker 4: don't have an automatic decision maker. You need both a

656
00:35:24,000 --> 00:35:27,839
Speaker 4: power of attorney and a health care proxy. And I

657
00:35:27,920 --> 00:35:31,320
Speaker 4: know this part isn't fun to think about, but less

658
00:35:31,360 --> 00:35:35,719
Speaker 4: than one in four Americans. Only twenty four percent have

659
00:35:35,840 --> 00:35:40,480
Speaker 4: a will according to caring dot COM's twenty twenty five survey.

660
00:35:41,120 --> 00:35:44,360
Speaker 4: That's a concern, especially for those living alone.

661
00:35:44,840 --> 00:35:47,480
Speaker 2: Right, and those documents protect you and the people you

662
00:35:47,560 --> 00:35:49,880
Speaker 2: care about. It's a gifted clarity for your family.

663
00:35:50,400 --> 00:35:51,279
Speaker 5: It really is.

664
00:35:51,600 --> 00:35:57,160
Speaker 4: Preparation isn't about worry, It's about peace and beyond paperwork.

665
00:35:57,520 --> 00:36:01,200
Speaker 4: I always tell people to consider long term care insurance

666
00:36:01,719 --> 00:36:07,399
Speaker 4: or hybrid policies that combine protection and flexibility. The goal

667
00:36:07,520 --> 00:36:11,920
Speaker 4: isn't to predict every detail, it's to remove uncertainty and

668
00:36:12,160 --> 00:36:13,439
Speaker 4: lighten the burden later.

669
00:36:13,800 --> 00:36:14,359
Speaker 1: I like that.

670
00:36:14,400 --> 00:36:17,440
Speaker 2: You always say planning is about freedom, not fear, and

671
00:36:17,480 --> 00:36:19,520
Speaker 2: that kind of ties into something else. We talked about

672
00:36:19,600 --> 00:36:22,560
Speaker 2: connection because living alone doesn't mean being isolated.

673
00:36:22,840 --> 00:36:25,480
Speaker 5: Yes, and that's such an important point.

674
00:36:25,840 --> 00:36:30,040
Speaker 4: There's a wonderful study from Everyday Help that found strong

675
00:36:30,160 --> 00:36:36,400
Speaker 4: social ties can actually slow biological aging. Isn't that something

676
00:36:37,000 --> 00:36:40,799
Speaker 4: staying socially active is one of the best investments you

677
00:36:40,840 --> 00:36:45,240
Speaker 4: can make in your health. Join a faith group, volunteer,

678
00:36:45,719 --> 00:36:49,600
Speaker 4: mentor or even just keep a circle of friends and

679
00:36:49,680 --> 00:36:53,000
Speaker 4: neighbors who check in on each other. I call that

680
00:36:53,239 --> 00:36:58,560
Speaker 4: your retirement tribe, your team for the next chapter of life, and.

681
00:36:58,480 --> 00:36:59,960
Speaker 1: It doesn't have to be complicated.

682
00:37:00,239 --> 00:37:03,240
Speaker 2: Even little routines lunch with a friend, joining a book club,

683
00:37:03,440 --> 00:37:06,320
Speaker 2: or volunteering one day a week create structure and purpose.

684
00:37:06,840 --> 00:37:07,440
Speaker 5: Exactly.

685
00:37:08,080 --> 00:37:11,759
Speaker 4: The best investment you can make is in relationships that

686
00:37:11,880 --> 00:37:17,719
Speaker 4: return joy, because no portfolio can replace purpose and purpose

687
00:37:17,960 --> 00:37:22,080
Speaker 4: is what keeps people thriving, not just surviving through this

688
00:37:22,200 --> 00:37:27,080
Speaker 4: stage of life. Now, let's talk about how professional guidance

689
00:37:27,120 --> 00:37:32,440
Speaker 4: fits in. A good advisor helps synchronize your lifestyle goals

690
00:37:32,480 --> 00:37:37,880
Speaker 4: with your financial reality. We help clients design income plans

691
00:37:38,280 --> 00:37:41,799
Speaker 4: that reflect how they want to live, not just what

692
00:37:41,840 --> 00:37:46,320
Speaker 4: they've saved. It's about clarity, security, and simplicity.

693
00:37:46,800 --> 00:37:49,200
Speaker 2: That's what I love about what we do. You've always

694
00:37:49,200 --> 00:37:51,279
Speaker 2: set our goals and just to grow assets. It's to

695
00:37:51,320 --> 00:37:53,200
Speaker 2: help people feel secure and supported.

696
00:37:53,600 --> 00:37:55,600
Speaker 5: That's right, You've done the hard work.

697
00:37:55,719 --> 00:37:59,759
Speaker 4: Facing your future now is about making it work for you,

698
00:38:00,280 --> 00:38:04,720
Speaker 4: and that's why having a fiduciary advisor, a clear plan,

699
00:38:05,280 --> 00:38:09,120
Speaker 4: and a supportive community can make all the difference. If

700
00:38:09,160 --> 00:38:13,960
Speaker 4: you're planning for retirement on your own, my book Retire

701
00:38:14,080 --> 00:38:17,680
Speaker 4: Your Fear, Plan Your Future, can help you get started.

702
00:38:18,160 --> 00:38:24,920
Speaker 4: It explores real life transitions into widowhood, great divorce, and longevity,

703
00:38:25,480 --> 00:38:32,799
Speaker 4: and offers practical, faith based steps for building confidence and independence. Retirement,

704
00:38:32,880 --> 00:38:36,080
Speaker 4: for one, doesn't mean you're on your own. It means

705
00:38:36,120 --> 00:38:40,280
Speaker 4: you're free to design the life you want on your terms.

706
00:38:40,680 --> 00:38:45,520
Speaker 4: And remember, every good plan begins with a conversation. You're

707
00:38:45,600 --> 00:38:50,680
Speaker 4: listening to Safe Money Strategies on WRKO six eighty am.

708
00:38:51,040 --> 00:38:54,520
Speaker 4: For more than twenty two years, Kelly Financial has been

709
00:38:54,600 --> 00:38:59,640
Speaker 4: helping New England families protect what matters most. Call eight

710
00:38:59,719 --> 00:39:02,799
Speaker 4: eight a m eight eight hundred eighteen eighty one or

711
00:39:03,040 --> 00:39:05,720
Speaker 4: visit Kellyfinancial dot org.

712
00:39:06,200 --> 00:39:06,960
Speaker 5: Stay with us.

713
00:39:07,120 --> 00:39:12,719
Speaker 4: We've got more financial content coming your way.

714
00:39:13,120 --> 00:39:17,239
Speaker 3: Safe Money Strategies brought to you by Kelly Financial Services.

715
00:39:17,400 --> 00:39:21,160
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

716
00:39:21,239 --> 00:39:26,080
Speaker 3: visit Kelly Financial dot org. Welcome back to Safe Money Strategies.

717
00:39:26,120 --> 00:39:29,160
Speaker 3: I'm Mike Ducett, and with me as always is Greg Workman.

718
00:39:29,440 --> 00:39:29,720
Speaker 1: Greg.

719
00:39:29,880 --> 00:39:31,560
Speaker 7: If we take a step back from the nuts and

720
00:39:31,640 --> 00:39:35,440
Speaker 7: bolts of tax strategies, Let's talk about something very human,

721
00:39:35,800 --> 00:39:39,560
Speaker 7: financial stress, and how it's creeping into more folks lives

722
00:39:39,760 --> 00:39:40,640
Speaker 7: than you might expect.

723
00:39:40,800 --> 00:39:45,600
Speaker 8: Absolutely, Mike. In fact, a recent Kiplinger Personal Finance article

724
00:39:45,960 --> 00:39:49,560
Speaker 8: titled The Surprising Trick to Stop Money Stress before it

725
00:39:49,640 --> 00:39:53,600
Speaker 8: starts found that seventy percent of Americans say they feel

726
00:39:53,680 --> 00:39:58,360
Speaker 8: anxious about money. That statistic is huge, and it underscores

727
00:39:58,520 --> 00:40:02,160
Speaker 8: a hidden retirement where even if you have a nest egg,

728
00:40:02,480 --> 00:40:05,839
Speaker 8: if you're worrying about it instead of using it confidently,

729
00:40:06,239 --> 00:40:08,319
Speaker 8: you are potentially paying.

730
00:40:08,040 --> 00:40:09,240
Speaker 1: A price exactly.

731
00:40:09,280 --> 00:40:13,600
Speaker 7: Some of the stress comes from everyday pressures, inflation, market swings,

732
00:40:13,719 --> 00:40:16,680
Speaker 7: rising costs of healthcare and housing, but for those in

733
00:40:16,920 --> 00:40:20,760
Speaker 7: or near retirement is an added layer. Concerns about outliving money,

734
00:40:21,080 --> 00:40:24,799
Speaker 7: needing to depend on social security, watching required minimum distribution

735
00:40:25,000 --> 00:40:28,799
Speaker 7: squeeze your choices. In another Kiplinger article, they found that

736
00:40:28,880 --> 00:40:32,680
Speaker 7: seventy percent of retirees say that financial stress is at

737
00:40:32,680 --> 00:40:33,960
Speaker 7: an all time high.

738
00:40:33,680 --> 00:40:36,760
Speaker 8: And when stress goes up, it doesn't just affect your mood,

739
00:40:37,160 --> 00:40:40,759
Speaker 8: it affects your decisions. The article points out that financial

740
00:40:40,800 --> 00:40:46,280
Speaker 8: stress can shrink your cognitive bandwidth. Meaning when you're constantly worried,

741
00:40:46,600 --> 00:40:50,840
Speaker 8: you may make reactive decisions instead of strategic ones.

742
00:40:51,160 --> 00:40:54,320
Speaker 7: Right, And when you're in retirement, you don't want reactive

743
00:40:54,400 --> 00:40:57,880
Speaker 7: You want calm, thoughtful, strategic planning. You want to be

744
00:40:57,960 --> 00:41:00,920
Speaker 7: in the driver's seat, not fighting the data board of lights.

745
00:41:01,280 --> 00:41:02,920
Speaker 7: So let's talk about why.

746
00:41:02,719 --> 00:41:05,480
Speaker 1: This matters, and then what you can do about it.

747
00:41:05,640 --> 00:41:09,880
Speaker 8: Let's start with why it matters. First, inflation and cost

748
00:41:09,920 --> 00:41:16,160
Speaker 8: of living pressures. When it feels like everything's more expensive groceries, utilities, housing,

749
00:41:16,480 --> 00:41:20,080
Speaker 8: it adds to the sense of urgency. The Kiplinger Seven

750
00:41:20,239 --> 00:41:23,920
Speaker 8: Ways to Manage your Financial Stress article noted that with

751
00:41:24,160 --> 00:41:28,800
Speaker 8: inflation high and costs rising, many folks are stressed simply

752
00:41:28,920 --> 00:41:30,319
Speaker 8: trying to make ends meet.

753
00:41:30,520 --> 00:41:35,279
Speaker 7: Second, uncertainty about retirement income. If you're approaching or in retirement,

754
00:41:35,320 --> 00:41:37,920
Speaker 7: you may ask will my portfolio last?

755
00:41:38,120 --> 00:41:40,200
Speaker 1: What if the market drops? What if I need long

756
00:41:40,280 --> 00:41:40,840
Speaker 1: term care?

757
00:41:41,120 --> 00:41:45,600
Speaker 7: Those unanswered questions fuel anxiety, and anxiety drains the ability

758
00:41:45,640 --> 00:41:46,759
Speaker 7: to plan proactively.

759
00:41:46,960 --> 00:41:52,080
Speaker 8: Third, complexity, Retirement planning isn't just save and invest anymore.

760
00:41:52,280 --> 00:41:58,800
Speaker 8: It's about sequence of withdrawals, tax efficiency, healthcare costs, state plans,

761
00:41:59,040 --> 00:42:04,759
Speaker 8: legacy objects. That complexity itself is a stressed driver, and

762
00:42:04,800 --> 00:42:08,920
Speaker 8: the more unresolved are unscheduled items you have, the more

763
00:42:09,000 --> 00:42:10,799
Speaker 8: that stress tends to build.

764
00:42:10,640 --> 00:42:13,120
Speaker 7: Up, which brings us to the key point. If you're

765
00:42:13,120 --> 00:42:16,799
Speaker 7: stressed about money, it's not just a psychological issue, it's

766
00:42:16,800 --> 00:42:20,040
Speaker 7: a financial planning issue, and solving it means removing some

767
00:42:20,080 --> 00:42:23,520
Speaker 7: of the uncertainty, making things more visible, more navigable.

768
00:42:23,640 --> 00:42:26,120
Speaker 8: That leads us to the what can you do about it? Part?

769
00:42:26,440 --> 00:42:30,760
Speaker 8: The article recommends a very practical habit they call quote

770
00:42:30,800 --> 00:42:35,399
Speaker 8: unquote worry time, a dedicated block of fifteen minutes once

771
00:42:35,440 --> 00:42:39,200
Speaker 8: a week to run through your money worries and concerns.

772
00:42:39,520 --> 00:42:42,960
Speaker 8: That may sound simple, but the point is you give

773
00:42:43,000 --> 00:42:46,440
Speaker 8: yourself permission to worry on purpose, so that outside of

774
00:42:46,480 --> 00:42:49,239
Speaker 8: that time you are free to act. I like that.

775
00:42:49,360 --> 00:42:53,000
Speaker 7: It's akin to a scheduled check in with your finances

776
00:42:53,080 --> 00:42:55,080
Speaker 7: rather than carrying the nag and worry.

777
00:42:54,920 --> 00:42:55,520
Speaker 1: All the time.

778
00:42:55,760 --> 00:42:58,520
Speaker 7: So let's walk through a few actionable steps you can

779
00:42:58,560 --> 00:42:59,440
Speaker 7: take right now.

780
00:43:00,000 --> 00:43:03,360
Speaker 8: No One, schedule your money check in. Pick a consistent

781
00:43:03,480 --> 00:43:07,880
Speaker 8: time each week or bi weekly, say Sunday afternoon, our

782
00:43:08,000 --> 00:43:12,160
Speaker 8: Thursday morning, when you're relaxed, set aside fifteen minutes. Use

783
00:43:12,200 --> 00:43:15,440
Speaker 8: it to review your numbers. Ask what is my biggest

784
00:43:15,440 --> 00:43:19,279
Speaker 8: concern right now? What can I control? And what is

785
00:43:19,440 --> 00:43:20,640
Speaker 8: out of my control?

786
00:43:20,800 --> 00:43:25,480
Speaker 7: Step two create or revisit a stress list and an

787
00:43:25,520 --> 00:43:28,319
Speaker 7: action list. During your check in, write down what's on

788
00:43:28,360 --> 00:43:31,920
Speaker 7: your mind. Will inflation eat my income? Our RMD is

789
00:43:31,960 --> 00:43:34,399
Speaker 7: going to bump me up in tax brackets? What if

790
00:43:34,400 --> 00:43:37,200
Speaker 7: I'm still working at age seventy? These go on you

791
00:43:37,360 --> 00:43:41,839
Speaker 7: stress list. Beside each ask what can I act on immediately?

792
00:43:42,160 --> 00:43:45,160
Speaker 7: If it's reduced portfolio risk, then schedule a meeting with

793
00:43:45,200 --> 00:43:48,320
Speaker 7: your advisor. If it's what if long term care is needed,

794
00:43:48,360 --> 00:43:50,479
Speaker 7: then schedule a review with your planning team.

795
00:43:50,680 --> 00:43:54,799
Speaker 8: Step three build buffer and clarity. One of the root

796
00:43:54,880 --> 00:43:59,640
Speaker 8: causes of stress is uncertainty. Having a clear income plan,

797
00:44:00,120 --> 00:44:03,960
Speaker 8: knowing where your rmds or withdrawals come from. Having a

798
00:44:04,040 --> 00:44:08,600
Speaker 8: liquidity runway. In other words, cash or low risk assets

799
00:44:08,840 --> 00:44:12,480
Speaker 8: for near term needs can ease the pressure. The article

800
00:44:12,600 --> 00:44:17,280
Speaker 8: emphasized that when retirees structure, where a retirement plan built

801
00:44:17,360 --> 00:44:22,680
Speaker 8: not just on growth, but on real life risks inflation, longevity,

802
00:44:22,960 --> 00:44:26,640
Speaker 8: and taxes, there's stress levels tend to drop.

803
00:44:26,800 --> 00:44:27,319
Speaker 1: Step four.

804
00:44:27,600 --> 00:44:31,239
Speaker 7: Use tools like our workbook Safe Money Strategies. If you

805
00:44:31,239 --> 00:44:33,960
Speaker 7: feel like you're doing okay, but you still lie awake

806
00:44:34,080 --> 00:44:37,000
Speaker 7: thinking about what IFFs. Then this workbook helps you map

807
00:44:37,040 --> 00:44:40,160
Speaker 7: your whole retirement income plan, when to take social Security,

808
00:44:40,320 --> 00:44:43,440
Speaker 7: how to sequence withdrawals, how to think about taxes, how

809
00:44:43,480 --> 00:44:46,680
Speaker 7: to tie in charitable giving, how to reduce your cash flow.

810
00:44:46,719 --> 00:44:50,640
Speaker 8: Stress exactly the act of writing down your what ifs,

811
00:44:50,920 --> 00:44:54,600
Speaker 8: mapping a strategy, and seeing where you stand. That process

812
00:44:54,640 --> 00:44:59,480
Speaker 8: itself reduces financial stress because you move from what ifs

813
00:44:59,680 --> 00:45:02,879
Speaker 8: to here's what we'll do, and when you've done that,

814
00:45:03,160 --> 00:45:04,720
Speaker 8: anxiety tends to drop.

815
00:45:04,880 --> 00:45:09,879
Speaker 7: And finally, step five, review regularly. Stress doesn't vanish when

816
00:45:09,880 --> 00:45:13,640
Speaker 7: you do one check in The environment changes, market shifts,

817
00:45:14,040 --> 00:45:18,319
Speaker 7: health changes, family situations evolve. What stressed you six months

818
00:45:18,360 --> 00:45:20,400
Speaker 7: ago might not be the same thing today.

819
00:45:20,680 --> 00:45:21,800
Speaker 1: Keep the habit of review.

820
00:45:22,000 --> 00:45:26,280
Speaker 8: So to recap. We've talked about why financial stress is rising,

821
00:45:26,680 --> 00:45:32,120
Speaker 8: especially for retirees and pre retirees. We've explored the mechanics

822
00:45:32,120 --> 00:45:35,840
Speaker 8: of how stress affects decision making, and we have offered

823
00:45:35,960 --> 00:45:37,840
Speaker 8: practical steps to combat it.

824
00:45:38,000 --> 00:45:41,359
Speaker 7: And the key takeaway if you're feeling stressed about your finances,

825
00:45:41,520 --> 00:45:44,000
Speaker 7: you're not alone, but you also don't have to sit

826
00:45:44,040 --> 00:45:48,360
Speaker 7: with anxiety with the structured approach, you can regain clarity, control,

827
00:45:48,440 --> 00:45:49,239
Speaker 7: and peace.

828
00:45:48,960 --> 00:45:51,720
Speaker 8: Of mind, which brings us to our call to action.

829
00:45:52,200 --> 00:45:56,360
Speaker 8: If you haven't yet picked up our Safe Money Strategies workbook,

830
00:45:56,760 --> 00:46:00,080
Speaker 8: now is the time. Use it as your planning company.

831
00:46:00,560 --> 00:46:05,120
Speaker 8: Work through the questions, map your income and your risk profile,

832
00:46:05,480 --> 00:46:10,040
Speaker 8: identify your stress drivers, and schedule your next step. Reach

833
00:46:10,080 --> 00:46:13,880
Speaker 8: out to us at Kelly Financial Services to request your copy.

834
00:46:14,160 --> 00:46:18,800
Speaker 8: Let's help turn your worry into strategy and actionable plans.

835
00:46:19,000 --> 00:46:19,439
Speaker 1: That's right.

836
00:46:19,480 --> 00:46:23,280
Speaker 7: You've heard us talk about all the pieces tax efficiency, retirement, income,

837
00:46:23,480 --> 00:46:26,720
Speaker 7: charitable giving, a state planning, but what pulls them together

838
00:46:27,120 --> 00:46:29,120
Speaker 7: is the one that often gets ignored.

839
00:46:29,239 --> 00:46:30,240
Speaker 1: How you fail.

840
00:46:30,440 --> 00:46:32,359
Speaker 7: If your money plan keeps you up at night, it's

841
00:46:32,440 --> 00:46:33,240
Speaker 7: time to upgrade.

842
00:46:33,360 --> 00:46:35,800
Speaker 8: Thank you for tuning in today. We'll be back again

843
00:46:35,840 --> 00:46:39,200
Speaker 8: next week with more on how to protect your retirement,

844
00:46:39,480 --> 00:46:43,399
Speaker 8: your income, and your peace of mind. With that, I'm

845
00:46:43,400 --> 00:46:44,439
Speaker 8: Greg Workman.

846
00:46:44,239 --> 00:46:46,279
Speaker 7: And I'm Mike du Said, join us next week for

847
00:46:46,360 --> 00:46:47,759
Speaker 7: more safe Money strategies.

848
00:46:52,360 --> 00:46:56,240
Speaker 6: Joining us now, as she always does at this time.

849
00:46:56,680 --> 00:47:02,319
Speaker 6: She is the co founder, CEO, president of Kelly Financial Services,

850
00:47:02,800 --> 00:47:05,640
Speaker 6: and yes, that is her wonderful name.

851
00:47:06,200 --> 00:47:09,400
Speaker 1: Kelly Kelly Kelly.

852
00:47:10,239 --> 00:47:11,400
Speaker 5: How are you.

853
00:47:12,200 --> 00:47:16,040
Speaker 4: Good morning, Jeff, I am good. You know this time

854
00:47:16,080 --> 00:47:19,920
Speaker 4: of year we all start thinking about gratitude and how

855
00:47:19,960 --> 00:47:23,319
Speaker 4: we can get back to the people and causes we love.

856
00:47:23,719 --> 00:47:26,200
Speaker 5: But one of the most meaningful gifts.

857
00:47:25,840 --> 00:47:28,040
Speaker 4: We can ever give isn't.

858
00:47:27,760 --> 00:47:29,680
Speaker 5: Wrapped in paper or tied.

859
00:47:29,400 --> 00:47:32,839
Speaker 4: With a bow, is the clarity and comfort that come

860
00:47:32,920 --> 00:47:36,719
Speaker 4: with a well prepared estate plan. At Kelly Financial, we

861
00:47:36,840 --> 00:47:41,040
Speaker 4: have an informative investor guide called the Greatest Gift. Outline

862
00:47:41,080 --> 00:47:45,400
Speaker 4: your wishes with an estate Plan. It helps families organize

863
00:47:45,400 --> 00:47:50,200
Speaker 4: their assets, named decision makers, and outline their wishes so

864
00:47:50,400 --> 00:47:54,480
Speaker 4: loved ones are not left guessing. You'll also find simple,

865
00:47:54,640 --> 00:47:58,920
Speaker 4: smart gifting strategies to bless your family and your favorite

866
00:47:59,000 --> 00:48:02,400
Speaker 4: charities while protecting your retirement income.

867
00:48:02,280 --> 00:48:03,800
Speaker 5: And your own peace of mind.

868
00:48:04,040 --> 00:48:06,440
Speaker 4: To get your free coffee, just give us call or

869
00:48:06,560 --> 00:48:10,920
Speaker 4: email us at Kelly at Kellyfinancial dot org. Jeff, have

870
00:48:11,000 --> 00:48:14,319
Speaker 4: a wonderful weekend, My best of Grace and the kiddos,

871
00:48:14,480 --> 00:48:15,719
Speaker 4: and Happy Halloween.

872
00:48:16,040 --> 00:48:19,160
Speaker 6: Happy Halloween, all the best to you and everyone at

873
00:48:19,239 --> 00:48:23,160
Speaker 6: Kelly Financial. Okay, my friends. For your free copy of

874
00:48:23,239 --> 00:48:27,200
Speaker 6: the year end checklist and action plan, call Kelly now

875
00:48:27,600 --> 00:48:30,520
Speaker 6: eight eighty eight eight hundred eighteen eighty one, or if

876
00:48:30,560 --> 00:48:34,800
Speaker 6: you prefer, you can email her directly Kelly at Kellyfinancial

877
00:48:34,840 --> 00:48:39,320
Speaker 6: dot org. Kelly at Kellyfinancial dot.

878
00:48:39,120 --> 00:48:49,879
Speaker 3: Org Safe Money Strategies at eight eight hundred one eight

879
00:48:50,080 --> 00:48:54,960
Speaker 3: eight one.

880
00:48:56,360 --> 00:48:59,960
Speaker 4: This week on Safe Money Strategies, we turn What's Again

881
00:49:00,200 --> 00:49:03,839
Speaker 4: to the wit and wisdom of Bill Cally, sharing a

882
00:49:03,880 --> 00:49:08,680
Speaker 4: story that speaks to perseverance, faith and family roots.

883
00:49:09,200 --> 00:49:10,719
Speaker 5: From the monasteries of.

884
00:49:10,719 --> 00:49:15,120
Speaker 4: Saint Bridget, to the humble homes of Ireland and finally to.

885
00:49:15,120 --> 00:49:17,120
Speaker 5: The fields of bailey Brook Farm.

886
00:49:17,680 --> 00:49:22,279
Speaker 4: Bill reflects on what it truly means to be Irish, resilient,

887
00:49:22,560 --> 00:49:24,279
Speaker 4: faithful and grateful.

888
00:49:24,840 --> 00:49:25,960
Speaker 5: Here's Bill Kelly.

889
00:49:28,560 --> 00:49:31,560
Speaker 12: What are the most important values I've learned as a

890
00:49:31,600 --> 00:49:35,800
Speaker 12: result of being Irish? Perseverance and the ability to fight back.

891
00:49:36,360 --> 00:49:40,040
Speaker 12: The social, economic and political issues we're dealing with today

892
00:49:40,160 --> 00:49:43,239
Speaker 12: are the same types of issues that confronted my ancestors

893
00:49:43,239 --> 00:49:47,120
Speaker 12: in Ireland. An interesting part of Irish history goes back

894
00:49:47,160 --> 00:49:51,120
Speaker 12: to Saint Patrick and Bridget. Saint Bridget created a series

895
00:49:51,120 --> 00:49:55,280
Speaker 12: of monasteries in Kildare, Ireland. She was given her orders

896
00:49:55,280 --> 00:49:57,560
Speaker 12: from Saint mel who I believe was the nephew of

897
00:49:57,560 --> 00:50:01,160
Speaker 12: Saint Patrick. She set up monaies for both men and

898
00:50:01,200 --> 00:50:05,120
Speaker 12: women who flocked to them during one of Europe's darkest periods,

899
00:50:05,400 --> 00:50:09,520
Speaker 12: when the culture was under assault, Its history and literature,

900
00:50:09,680 --> 00:50:13,839
Speaker 12: its very underpinnings were being burned. Muslims were attacking from

901
00:50:13,840 --> 00:50:17,239
Speaker 12: every direction. So people would go to the monasteries in

902
00:50:17,280 --> 00:50:21,279
Speaker 12: Ireland to study, prey and write. They would translate and transcribe,

903
00:50:21,280 --> 00:50:23,960
Speaker 12: and the monasteries founded and built by Saint Bridget of

904
00:50:24,000 --> 00:50:27,719
Speaker 12: Kildare preserving writings that would later become the foundation not

905
00:50:27,760 --> 00:50:30,759
Speaker 12: only of Irish culture but also a significant part of

906
00:50:30,800 --> 00:50:36,200
Speaker 12: Western civilization. Many miraculous things happened in those monasteries. The

907
00:50:36,320 --> 00:50:39,600
Speaker 12: census was a terrible weapon in Ireland. Its main use

908
00:50:39,680 --> 00:50:41,320
Speaker 12: was to find out how many people were in a

909
00:50:41,360 --> 00:50:44,399
Speaker 12: home so the government could steal their resources and then

910
00:50:44,440 --> 00:50:46,279
Speaker 12: deal with them after they had robbed them of their

911
00:50:46,320 --> 00:50:49,640
Speaker 12: property and their dignity. If there were fewer Irish to

912
00:50:49,680 --> 00:50:52,239
Speaker 12: contend with, the British could take more of the land

913
00:50:52,280 --> 00:50:56,279
Speaker 12: and dedicate it to the Queen. England was a colonizing nation,

914
00:50:57,160 --> 00:51:00,840
Speaker 12: constantly on the lookout for more territory to control. In

915
00:51:00,880 --> 00:51:05,600
Speaker 12: the crosshairs were India, North America, Canada and the Virgin islands.

916
00:51:06,719 --> 00:51:10,400
Speaker 12: To colonize these areas and send out forces, the British

917
00:51:10,440 --> 00:51:14,080
Speaker 12: had to have supplies, so they've plundered Ireland for lamb meat,

918
00:51:14,360 --> 00:51:18,600
Speaker 12: wool and potatoes. Ireland became a place where the British

919
00:51:18,600 --> 00:51:21,279
Speaker 12: could rape the land and rape the people. They took

920
00:51:21,360 --> 00:51:24,120
Speaker 12: more and more, until eventually, in the eighteen thirties and

921
00:51:24,200 --> 00:51:29,320
Speaker 12: eighteen forties it began to backfire. It backfired because Ireland

922
00:51:29,360 --> 00:51:32,480
Speaker 12: sank to such a level of impoverishment that it couldn't

923
00:51:32,480 --> 00:51:34,960
Speaker 12: sustain the demands of the Crown or even support its

924
00:51:34,960 --> 00:51:39,280
Speaker 12: own people. There wasn't enough food. One million people starved

925
00:51:39,280 --> 00:51:43,480
Speaker 12: and millions more left. Ireland was broken by the filthy Cromwell.

926
00:51:44,239 --> 00:51:47,160
Speaker 12: Most Irish families had a one room home with a hearth,

927
00:51:47,840 --> 00:51:50,680
Speaker 12: and sometimes they would keep a farm animal in the

928
00:51:50,719 --> 00:51:53,479
Speaker 12: house with them so nobody could steal it. They would

929
00:51:53,520 --> 00:51:56,359
Speaker 12: sleep in cradles and bunks. That's what they went through.

930
00:51:57,640 --> 00:52:00,279
Speaker 12: Although you may see a lot of wonderful movies such

931
00:52:00,320 --> 00:52:03,560
Speaker 12: as Darby O'Gill and The Little People and the Quiet

932
00:52:03,560 --> 00:52:07,160
Speaker 12: Man their fairy tales at best, it was a tough

933
00:52:07,200 --> 00:52:09,319
Speaker 12: time for the Irish and nobody cut them a brake.

934
00:52:10,239 --> 00:52:12,759
Speaker 12: There was a sport in Ireland. For the British constables

935
00:52:12,760 --> 00:52:16,080
Speaker 12: and sheriffs. That sport was eviction and it was a

936
00:52:16,120 --> 00:52:19,440
Speaker 12: spectator sport. The only piece of equipment needed was a

937
00:52:19,480 --> 00:52:22,279
Speaker 12: pole about thirty feet long with a pick at the end.

938
00:52:22,640 --> 00:52:26,000
Speaker 12: The idea was to climb onto people's roofs and stick

939
00:52:26,040 --> 00:52:28,840
Speaker 12: the pole through the thatching in an effort to stab

940
00:52:28,880 --> 00:52:31,840
Speaker 12: whoever was in the way. When people saw the spears

941
00:52:31,880 --> 00:52:34,400
Speaker 12: coming through the roof, they would run out of the house.

942
00:52:34,960 --> 00:52:37,440
Speaker 12: As soon as they escaped, the British would bar the doors.

943
00:52:38,040 --> 00:52:40,480
Speaker 12: Then the sheriffs would go in, throw out all the

944
00:52:40,520 --> 00:52:43,400
Speaker 12: furniture and board up the doors. Anyone who tried to

945
00:52:43,440 --> 00:52:46,680
Speaker 12: return would be arrested. So some people lived in the

946
00:52:46,680 --> 00:52:50,600
Speaker 12: brush and some lived in caves. I have pictures of

947
00:52:50,600 --> 00:52:52,520
Speaker 12: some of my cousins standing in front of a cave

948
00:52:52,600 --> 00:52:55,440
Speaker 12: in the late eighteen fifties. That's where they lived when

949
00:52:55,440 --> 00:52:58,520
Speaker 12: the British came around. Their hope of coming to America

950
00:52:58,640 --> 00:53:01,239
Speaker 12: was a distant dream. The people who did make it

951
00:53:01,280 --> 00:53:04,000
Speaker 12: to our country thought they were in paradise because there

952
00:53:04,080 --> 00:53:06,759
Speaker 12: was food and plenty of work, though it was tough work.

953
00:53:07,400 --> 00:53:10,480
Speaker 12: I have a picture of my grandmother Kelly Her maiden

954
00:53:10,560 --> 00:53:14,880
Speaker 12: name was Moore, from the Donnybrook district in Dublin. My

955
00:53:15,040 --> 00:53:19,360
Speaker 12: Kelly ancestors came from Roscommon, Ireland. They went to Liverpool,

956
00:53:19,360 --> 00:53:21,880
Speaker 12: England to work in the mills because their fare was paid.

957
00:53:22,960 --> 00:53:25,440
Speaker 12: Once they saved up some money, they came to America.

958
00:53:25,760 --> 00:53:29,440
Speaker 12: From eighteen fifty one to eighteen seventy nine, various Kelleys

959
00:53:29,600 --> 00:53:34,480
Speaker 12: came from Roscommon to America via Lancashire and Liverpool. Some

960
00:53:34,520 --> 00:53:37,320
Speaker 12: of the Kellys ended up in the Springfield and Ludlow areas.

961
00:53:37,800 --> 00:53:41,239
Speaker 12: The Murphys wound up in Providence. We had arrived in

962
00:53:41,280 --> 00:53:45,160
Speaker 12: this wonderful place called the United States. Providence was the

963
00:53:45,239 --> 00:53:48,880
Speaker 12: jewelry capital of the world. There were many factories for

964
00:53:49,000 --> 00:53:52,960
Speaker 12: jewelry and silver place settings. My grandfather had a factory

965
00:53:53,000 --> 00:53:56,880
Speaker 12: in which they enameled emblems. In nineteen twenty seven, there

966
00:53:56,880 --> 00:53:59,480
Speaker 12: were signs on the horizon that didn't bode well for

967
00:53:59,520 --> 00:54:03,600
Speaker 12: anyone who owned a jewelry factory in Providence. The financial

968
00:54:03,640 --> 00:54:07,960
Speaker 12: markets collapsed in the late twenties and early thirties. Providence

969
00:54:08,080 --> 00:54:12,640
Speaker 12: was hit hard. Middle class people stopped buying jewelry. You

970
00:54:12,640 --> 00:54:15,600
Speaker 12: couldn't eat jewelry. Gramp got on his feet again through

971
00:54:15,640 --> 00:54:18,480
Speaker 12: hard work and was eventually able to help my parents

972
00:54:18,480 --> 00:54:22,120
Speaker 12: buy bailey Brook Farm. Growing up on bailey Brook Farm

973
00:54:22,239 --> 00:54:25,520
Speaker 12: was a far cry from the lives of our Irish ancestors.

974
00:54:26,400 --> 00:54:29,560
Speaker 12: You couldn't describe us as rich financially, but our riches

975
00:54:29,640 --> 00:54:33,960
Speaker 12: came from elsewhere. We had dogs, we had cats, we

976
00:54:34,040 --> 00:54:37,640
Speaker 12: had food, we had bicycles, we had hand me down shoes,

977
00:54:38,200 --> 00:54:41,319
Speaker 12: and we had the inevitable sock bag. Whenever someone did

978
00:54:41,320 --> 00:54:43,759
Speaker 12: a wash and the socks didn't match up, he or

979
00:54:43,840 --> 00:54:46,840
Speaker 12: she would put the odd socks in a bag. Imagine

980
00:54:46,840 --> 00:54:48,960
Speaker 12: seven kids, and every month or so we would go

981
00:54:49,000 --> 00:54:51,120
Speaker 12: through the sock bag and match up the stray pears.

982
00:54:51,719 --> 00:54:54,080
Speaker 12: We also had a rag bag of old sheets, towels

983
00:54:54,080 --> 00:54:56,080
Speaker 12: and cloths that we used for all sorts of things.

984
00:54:56,680 --> 00:54:59,880
Speaker 12: That's how we lived. We seven children had paper roots

985
00:55:00,239 --> 00:55:02,759
Speaker 12: starting at age eight or nine. On those routes, we

986
00:55:02,840 --> 00:55:05,200
Speaker 12: got to know people and were able to work and produce.

987
00:55:05,920 --> 00:55:09,440
Speaker 12: By doing that, we learned things. Was it a perfect life, No,

988
00:55:09,760 --> 00:55:12,520
Speaker 12: it wasn't. We had our problems. Did we get through

989
00:55:12,560 --> 00:55:15,919
Speaker 12: them unscathed? For the most part, we did. But there's

990
00:55:15,960 --> 00:55:17,560
Speaker 12: a lot of nicks on my soul that I know,

991
00:55:17,719 --> 00:55:21,080
Speaker 12: love and prayer will help heal. That's the reason my

992
00:55:21,160 --> 00:55:24,200
Speaker 12: religion assumed such an important role in my life. It's

993
00:55:24,239 --> 00:55:28,040
Speaker 12: given me an open invitation for forgiveness and renewal. My

994
00:55:28,200 --> 00:55:32,240
Speaker 12: childhood is now a distant dream, alive with fields, sunny days,

995
00:55:32,640 --> 00:55:36,200
Speaker 12: winter snow drifts, playtime and family dinners. What did we learn?

996
00:55:36,880 --> 00:55:38,640
Speaker 12: We learned that you had better try, you had better

997
00:55:38,640 --> 00:55:40,880
Speaker 12: respect your teachers, and you had better behave in church.

998
00:55:41,360 --> 00:55:43,400
Speaker 12: We worked on the farm, we went to school, and

999
00:55:43,440 --> 00:55:45,920
Speaker 12: we loved our teachers. At home we slept with a

1000
00:55:45,920 --> 00:55:50,160
Speaker 12: pile of puppies. Have I made mistakes, sure, but I

1001
00:55:50,200 --> 00:55:53,279
Speaker 12: pray about those all the time. Today at dawn, I

1002
00:55:53,400 --> 00:55:56,879
Speaker 12: drove back to the farmland we once occupied. The hen

1003
00:55:56,920 --> 00:56:00,800
Speaker 12: coops have been replaced by stylish residences. Our front step

1004
00:56:00,840 --> 00:56:04,759
Speaker 12: is gone. Others now inhabit the hills of home those

1005
00:56:04,800 --> 00:56:07,359
Speaker 12: we knew are no longer present. But it was a

1006
00:56:07,400 --> 00:56:09,400
Speaker 12: magical place for a boy to grow up in.

1007
00:56:12,960 --> 00:56:16,560
Speaker 3: We'll call Kelly Financial Services eight eight eight eight hundred,

1008
00:56:16,760 --> 00:56:17,960
Speaker 3: eighteen eighty one.

1009
00:56:18,239 --> 00:56:22,880
Speaker 4: I'm Kelly Kelly from Kelly Financial. Whether you're in your sixties, seventies,

1010
00:56:23,040 --> 00:56:26,520
Speaker 4: or eighties, financial advice is important when it comes to

1011
00:56:26,640 --> 00:56:29,799
Speaker 4: preserving your nest egg. We have a free investor guide

1012
00:56:29,880 --> 00:56:33,719
Speaker 4: called Designing your Fiscal House to Weather the Elements, which

1013
00:56:33,800 --> 00:56:37,680
Speaker 4: highlights the steps needed to build a balance portfolio. For

1014
00:56:37,760 --> 00:56:40,840
Speaker 4: the guide, call eight eight eight eight hundred eighteen eighty

1015
00:56:40,880 --> 00:56:44,640
Speaker 4: one or email Kelly at Kellyfinancial dot org.

1016
00:56:44,920 --> 00:56:47,640
Speaker 5: We're Kelly Financial. Come retire with.

1017
00:56:47,560 --> 00:56:52,640
Speaker 3: Us safe money strategies with William Kelly and Kelly Kelly.

1018
00:56:53,000 --> 00:56:55,239
Speaker 3: Go to Kelly Financial dot org.