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Speaker 1: This is coming to us, so.

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

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

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

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

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

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

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

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

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

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

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

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Speaker 2: the talk. Since our show has remained a Saturday morning staple,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Speaker 2: William Kelly Junior.

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

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Speaker 3: eight hundred eighteen eighty one.

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

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

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

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

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

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

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

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Speaker 4: most when you're planning for the future sometimes as light,

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Speaker 4: sometimes is thoughtful, but is always real. Good morning William.

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Speaker 5: Good morning Mom. How are you.

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Speaker 4: I'm doing great? How about yourself?

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Speaker 2: I've been fine. It's been a great week. I've had

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Speaker 2: a lot of exciting experiences.

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Speaker 4: Good. Good.

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Speaker 2: So my history final and my political science finals, those

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Speaker 2: are all coming up where I've been done. My History

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Speaker 2: final was due on Friday, and it was a take

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Speaker 2: home exam. The first one's going to be take home

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Speaker 2: open notes, the second one will be in person close notes.

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Speaker 2: And so that went really well. My political science one

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Speaker 2: was really thorough. That was take home, but you had

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Speaker 2: to submit your second round essay with it. Okay, you

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Speaker 2: know it's a big deal. You got to answer all

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Speaker 2: the questions with that we learned in class and with

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Speaker 2: the videos, and he does video lectures that we have

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Speaker 2: to watch. So he's a very thorough professor. I like

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Speaker 2: it a lot.

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Speaker 4: Good.

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Speaker 2: So those went well. I have an ECON final next

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Speaker 2: week on Friday. So he released a study guide and

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Speaker 2: it's been very helpful.

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Speaker 5: I'm going to pus attention to that.

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Speaker 2: And besides academics. On Wednesday, I got to golf for

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Speaker 2: the first time in just about a decade.

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Speaker 4: Long time.

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Speaker 5: It's been a while.

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Speaker 2: I know a lot of you folks who have been

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Speaker 2: listening for over a decade knew that I golfed and

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Speaker 2: Dad made it very He was.

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Speaker 5: Very proud of that, and I did pretty well.

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Speaker 4: Yeah, you and your Ben Hogan's.

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Speaker 5: Yes.

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Speaker 2: I remember Dad had a video of Ben Hogan and

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Speaker 2: I had to mimic it exactly. My dad had those

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Speaker 2: coaching apps where he would draw lines so he could

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Speaker 2: do analysis or analyses.

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Speaker 5: And it had to be exactly like his.

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Speaker 2: And actually, I will say to some that might sound extreme,

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Speaker 2: and to be honest, he was an extreme coach in

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Speaker 2: a good way, but it actually helped my drive. It

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Speaker 2: gave me a solid drive because Ben Hogan's drive was perfect.

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Speaker 5: It was just incredible. He was such a great golfer.

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Speaker 2: So and Arnold Palmer as well. I had to watch

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Speaker 2: a lot of his videos. Dad would find these four

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Speaker 2: minute videos on YouTube just breaking down the swing, and

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Speaker 2: so I would watch that with him.

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Speaker 1: Reluctantly.

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Speaker 5: I'm like, Dad, I don't want to watch this.

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Speaker 2: He's like, it's four minutes, come on, We're going to

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Speaker 2: watch it.

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Speaker 5: So it was exciting.

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Speaker 2: I didn't play as well as I thought I would

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Speaker 2: since it's literally been a decade. But it was a

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Speaker 2: lot of fun. I was happy to bond with my friends.

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Speaker 2: That's what counts exactly.

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Speaker 4: That's what counts, and who knows you could get back

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Speaker 4: into it.

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Speaker 5: That's true, That is very true.

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Speaker 4: We'll see about that. Well, we have some girls coming

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Speaker 4: over later today to start celebrating Mary Madaline's twenty ninth birthday.

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Speaker 2: Gosh, I can't believe she's twenty nine now, I know.

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Speaker 2: Time flies. Feels like yesterday she got her car and

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Speaker 2: we were going to Chili's together.

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Speaker 4: That was a long time ago.

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Speaker 5: That was yeah, fun times. But it's going to be

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Speaker 5: leading night at the Keller.

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Speaker 2: Yeah.

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Speaker 4: Well, I think John Boubadris may be coming. You're kidding, No, No,

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Speaker 4: he may come. He's been dying to see you since

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Speaker 4: your birthday.

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Speaker 5: That's true.

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Speaker 4: So we'll have a bunch of dogs.

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Speaker 2: Yeah. John is one of the most busy people on

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Speaker 2: the planet. He has a million projects and I know

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Speaker 2: he's on top of his stuff, but sometimes it's hard

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Speaker 2: to schedule with him just because he's such a he's

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Speaker 2: always doing something on learnt from John.

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Speaker 4: It's still up in the air, but most likely we'll

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Speaker 4: see him. But I think we have like some arts

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Speaker 4: and crafts planned making, some kind of magnets came up

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Speaker 4: with that, so I just needed to have parchment paper

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Speaker 4: for the table. So what have that? And then we're

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Speaker 4: going to our favorite place Alfournos Nope, nope, another grill.

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Speaker 4: No McDonald's will yam what Donald's I think not? You're crazy.

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Speaker 4: One more guess Oyster Bar. No, I can't believe it.

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Speaker 4: The cook House.

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Speaker 2: Oh, that is a really nice restaurant. Yeah, that I

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Speaker 2: can't believe I missed that. I know what a birthday treat.

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Speaker 4: I know, I know. I'm looking forward to it myself.

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Speaker 2: Anytime we have a special occasion, we have like a

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Speaker 2: list of restaurants in our mind. And for the super

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Speaker 2: most nice occasions, Capitol Grill doesn't get better than the

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Speaker 2: Capitol Grill. If they seat you, if they put you

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Speaker 2: at the bar or in the secondary room, it's not

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Speaker 2: as good. So ladies and gentlemen always try to get

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Speaker 2: to the main room.

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Speaker 5: Clark cook Hows.

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Speaker 2: Is certainly up there. It's a very nice place. This

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Speaker 2: is a very special occasion, so it's well deserved.

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Speaker 4: Yeah.

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Speaker 2: The Oyster Bars right in front of the Red Parrot.

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Speaker 2: For those who are familiar with Newport.

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Speaker 4: That's a great place.

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Speaker 5: It truly is.

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Speaker 4: Yeah.

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Speaker 2: Oh, it's so tasty and it's just a good, you know,

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Speaker 2: low key place if you want to get a drink,

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Speaker 2: if you want to just have some really good seafood

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Speaker 2: and just enjoy time and Newport. Nothing too crazy. It's

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Speaker 2: a very nice place. Nonetheless, it is McDonald's is. It's

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Speaker 2: tough to get reservations over there, but I'm sure you

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Speaker 2: guys can figure it out.

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Speaker 5: If you have any questions, don't hesitate to email.

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Speaker 4: Us and you are hilarious.

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Speaker 2: Alfourno's is a hidden gym. Don't ever go to Alfornos.

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Speaker 2: It's so good leaf space for us ladies, I know,

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Speaker 2: but seriously, we highly recommend it.

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Speaker 4: Oh yes, oh yeah.

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Speaker 2: A lot of it's it's kind of its own dining experience.

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Speaker 4: I know it's hard to get reservations there, but you

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Speaker 4: can go early.

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Speaker 2: They reserve a certain amount for walking. Yes, yeah, that's

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Speaker 2: probably the best way to do it.

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Speaker 5: Honestly.

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Speaker 2: They are also very uh I just I don't even

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Speaker 2: not to explain. They just do everything the right way.

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Speaker 4: They like every waiter or waitress we've ever had there.

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Speaker 4: They know their stuff. They are they love it there.

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Speaker 4: You can tell they love the food and when they,

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Speaker 4: you know, give you the rundown of what they're offering.

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Speaker 4: They know, they are quite enthusiastic and knowledge.

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Speaker 5: Oh you know, they work really hard.

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Speaker 2: So that's that's always kind of refreshing to see when

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Speaker 2: you go to a restaurant like that. So anyways, just

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Speaker 2: stones and recommendations out there, that's exciting. I can't wait

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Speaker 2: to see everybody. I can't believe it's Emmon's birthday.

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Speaker 4: I know we're celebrating a few days early.

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Speaker 5: That's true, that's true, but still but it's.

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Speaker 4: Tough when your birthday's week during the week. Yeah, yeah, yeah.

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Speaker 5: But still it's the It's basically the same thing.

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Speaker 4: I know, I know exactly.

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Speaker 2: So Mom, how are the animals doing. I haven't seen them.

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Speaker 4: They are doing fantastic.

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Speaker 5: It's good. I wish Marshall and Georgia.

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Speaker 2: I wish they Georgia gets.

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Speaker 4: Her steps in. She's like she still wears that the

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Speaker 4: figh caller, as you know. But I think our many

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Speaker 4: of our listeners know she's How long has.

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Speaker 1: She had that?

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Speaker 4: I'd say about a yes, yes, it's been at least

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Speaker 4: a year and h it was very competitive.

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Speaker 5: Very she's back.

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Speaker 4: She's back. Last time I checked, I think she was

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Speaker 4: like number ten in Rhode Island. Yes, her numbers are

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Speaker 4: looking good.

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Speaker 5: That's good.

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Speaker 2: Good Georgia, very very great dog. Doesn't get better than Georgia. Seriously,

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Speaker 2: We're blessed. She's very smart, she's keen, very.

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Speaker 5: Athletic as well.

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Speaker 2: Her parents were show dogs, but Georgia didn't make the

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Speaker 2: cut when she was a puppy because she sat to

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Speaker 2: the left a little bit on her hip, and so

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Speaker 2: the judges said, Nope, she can't. She has to be

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Speaker 2: a family dog, not a show dog.

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Speaker 4: And I'm so glad.

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Speaker 5: We were so relieved.

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Speaker 4: I wish she's a wonderful family dog.

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Speaker 5: She truly is.

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Speaker 2: And I remember she grew up, picked her up in

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Speaker 2: Connecticut back in twenty eighteen.

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Speaker 4: We did, we did.

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Speaker 2: She's been a loyal g companion. I just I'm so

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Speaker 2: happy we have her and Marshall. Marshall just kind of

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Speaker 2: he's always there. Would you call him a companion, Yeah,

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Speaker 2: I call him a companion. That was a little hesitant mom. Yeah,

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Speaker 2: he likes to sit next to you when you do work.

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Speaker 2: He's kind of like your assistant a little bit.

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Speaker 4: He does.

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Speaker 2: Sometimes he'll sit on your laptop. That's when he's a

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Speaker 2: little unhelpful, but that's true. And then whenever he sits

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Speaker 2: on your clothes, they get a lot of hair on it.

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Speaker 2: But you know what, animals aren't perfect. We love them nonetheless.

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Speaker 4: I know, I know they're part of your family's right, Yeah,

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Speaker 4: it's right. I think everyone feels the same way about

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Speaker 4: their pets.

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Speaker 2: Oh yeah, they can have a million things in annoying,

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Speaker 2: but at the end of the day, you still love them.

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Speaker 2: Oh you do, and they're always there for you.

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Speaker 4: So do keep us on your dial. We've got a

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Speaker 4: lot of great content coming your way. Mike do set in.

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Speaker 4: Greg Workman will break down how to turn your savings

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Speaker 4: into a reliable retirement paycheck and the key decisions that

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Speaker 4: can help your income. Last, Mary, Madeline Kelly and Greg

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Speaker 4: Murray will walk the five of the most important financial

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Speaker 4: decisions you may face and how thoughtful planning around them

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Speaker 4: can help shape your future. When William and I return,

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Speaker 4: we will talk about why retirement looks different for women

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Speaker 4: and the simple steps you can take to feel more

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Speaker 4: prepared and more in control. And of course we'll close

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Speaker 4: the hour with some win and wisdom from the late

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

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Speaker 4: That's a wrap for forever. Young thank you for listening,

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

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Speaker 4: with more great content. I love you, Honey, I.

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Speaker 6: Love you too.

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

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

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

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

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

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Speaker 7: more of your hard earned money staying where.

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Speaker 5: It belongs with you. But here's the reality.

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

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

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

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

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Speaker 7: Call now to get your copy eight eighty eight, eight

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Speaker 7: hundred and eighteen eighty one or email Kelly at Kelly

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Speaker 7: Financial dot org.

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Speaker 5: Kelly at Kelly Financial dot.

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Speaker 8: Org ready to enjoy your golden years without worry. At

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Speaker 8: Kelly Financial, we know retirement planning can be overwhelming. With

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Speaker 8: more than twenty two years of experience. Our friendly team

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Speaker 8: of advisors makes it easy and rest free. Trust us

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Speaker 8: to help you create a secure and enjoyable future. For

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Speaker 8: a free initial retirement consultation called eight eight eight eight

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Speaker 8: hundred eighteen eighty one or email Kelly at Kellyfinancial dot org.

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Speaker 8: We're Kelly Financial. Come retire with us.

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Speaker 1: Welcome back to save money strategies.

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Speaker 9: I'm Mike ju Said, joined as always by my colleague

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Speaker 9: and investment advisor Greg Workman. If you missed last week's show,

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Speaker 9: we spent some time walking through what we call the

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Speaker 9: three stages of retirement, and Greg, I think that really

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Speaker 9: resonated with people.

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Speaker 6: It always does, Mike, because it helps people visualize retirement

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Speaker 6: not just as one long, static period, but as something

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Speaker 6: that evolves over.

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Speaker 1: Time exactly, and just as a quick recap.

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Speaker 9: For our listeners, last week, we broke retirement into three phases. First,

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Speaker 9: the go go years. That's early retirement. This is when

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Speaker 9: people are active, traveling, spending, checking off the bucket list right.

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Speaker 6: Then we move on to these slowgo years, where things

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Speaker 6: start to settle down a bit. You're still enjoying life,

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Speaker 6: but maybe traveling less spending becomes.

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Speaker 5: More moderate and your priorities begin to shift.

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Speaker 9: And then eventually the nogo years, that's when health becomes

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Speaker 9: more of a factor.

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Speaker 1: Mobility may be limited.

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Speaker 9: And often healthcare becomes one of the biggest expenses people face.

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Speaker 6: And here's the key takeaway from that conversation. Your retirement

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Speaker 6: isn't just a single number. Your expense is your lifestyle,

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Speaker 6: and your risks change depending upon what stage you're in.

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Speaker 9: Which leads us directly into today's topic. Because no matter

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Speaker 9: what stage you're in, go go, slowgo or no go,

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Speaker 9: you need one thing to make it all work. A paycheck,

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Speaker 9: that's right, and that's what we're going to talk about today.

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Speaker 9: How do you actually build a retirement paycheck? Because Greg,

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Speaker 9: this is where a lot of people feel uncertain.

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Speaker 5: They really do.

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Speaker 6: You spend thirty or forty years in the workforce getting

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Speaker 6: a paycheck every couple of weeks and then one day

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Speaker 6: it stops and now it's on you to replace it.

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Speaker 1: And that's a big psychological shift.

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Speaker 5: It's huge.

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Speaker 6: During your working years, it's all about accumulation, saving and

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Speaker 6: contributing to your four oh one k or ira. You're

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Speaker 6: building up your nest egg. But once you retire, the

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Speaker 6: game completely changes. Now it's about distribution. How do you

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Speaker 6: turn that nest egg into a reliable stream of income?

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Speaker 9: And this is where we hear the same question over

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Speaker 9: and over again, do I have enough?

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Speaker 5: Exactly?

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Speaker 6: But what people are really asking is can I generate

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Speaker 6: enough income from what I've saved to support my lifestyle?

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Speaker 9: Because it's not just about the size of the portfolio,

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Speaker 9: not at all.

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Speaker 6: You could have two retirees with the exact same amount

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Speaker 6: of money saved and one runs out of money while

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Speaker 6: the other one is perfectly fine. So what's the difference

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Speaker 6: income planning? How they structured their retirement paycheck.

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Speaker 9: Let's walk through an example, because I think this is

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Speaker 9: where it really clicks for people absolutely.

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Speaker 6: So let's take a hypothetical example. We'll call them John

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Speaker 6: and Lisa. This is not an actual client, but a

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Speaker 6: representative example of what we see day in and day out.

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Speaker 9: John and Lisa are both sixty five years old, recently retired.

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Speaker 9: They've done a good job saving They've got about a

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Speaker 9: million between their four oh one k iras and some savings.

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Speaker 5: That's pretty typical of what we see.

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Speaker 6: They also have Social Security available to them, but they're

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Speaker 6: trying to figure out how to turn it all into

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Speaker 6: a steady paycheck.

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Speaker 9: And like a lot of people, their first instinct is

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Speaker 9: to say, Okay, I've got a million dollars, I'll just

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Speaker 9: take four percent a year and live on that.

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Speaker 6: That's the old rule of thumb. And while it's a

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Speaker 6: starting point, it's not a defined strategy. Why not because

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Speaker 6: it ignores too many variables. It doesn't account for market conditions,

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Speaker 6: it doesn't adjust for different stages of retirement, and it

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Speaker 6: assumes a level consistent withdrawal, which we just talked about

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Speaker 6: last week. Isn't how retirement actually works.

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Speaker 1: Right, Because spending is higher in the go go years exactly.

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Speaker 6: John and Lisa may want to travel more in the

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Speaker 6: first ten years of retirement.

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Speaker 5: Maybe they want about eighty.

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Speaker 6: Thousand or so early on, but later in the slowgo

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Speaker 6: years that might drop, say to sixty thousand, and then

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Speaker 6: in the nogo years, expenses might shift. Get again, let's travel,

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Speaker 6: but more healthcare related expenses.

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Speaker 9: So instead of a flat paycheck, it's more like a

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Speaker 9: changing paycheck over time.

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Speaker 6: That's exactly right, And that's why building a retirement paycheck

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Speaker 6: isn't just about picking a percentage.

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Speaker 5: It's about creating a strategy So.

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Speaker 1: Let's break this down. When we talk about.

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Speaker 9: A retirement paycheck, where does that income actually come from?

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Speaker 6: Great question. For most people, it comes down to three

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Speaker 6: main sources. First, guaranteed income things like Social Security and

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Speaker 6: for some folks a pension.

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Speaker 5: Second, investment income.

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Speaker 6: This includes withdrawals from your various accounts iras, Form one ks.

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Speaker 5: Dividends and interest.

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Speaker 6: And third personal decisions like when you claim Social Security,

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Speaker 6: how you withdraw, and how you manage risk.

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Speaker 9: Let's talk about the first one, social Security, because that's

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Speaker 9: a big piece for almost everyone.

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Speaker 5: It is, and one of.

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Speaker 6: The biggest mistakes we see is people taking Social Security

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Speaker 6: too early without fully understanding the long term impact.

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Speaker 1: Because you can take it as early as sixty two.

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Speaker 6: You can, but if you do, your benefit could be

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Speaker 6: permanently reduced up to thirty two percent. On the flip side,

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Speaker 6: if you delay, your benefit grows each and every year

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Speaker 6: up to age.

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Speaker 9: Seventy, So that decision alone can have a major impact

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Speaker 9: on your paycheck.

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Speaker 6: A huge impact for John and le So the difference

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Speaker 6: between claiming early versus waiting could mean thousands of dollars

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Speaker 6: per year for the rest of their lives.

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Speaker 1: And that's guaranteed income. Which is important exactly.

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Speaker 6: The more guaranteed income you have, the less pressure you

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Speaker 6: put on your investments to perform.

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Speaker 1: But here's the challenge.

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Speaker 9: If someone delays social Security, how do they cover income

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Speaker 9: in the meantime.

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Speaker 5: That's what we call ridging the gap.

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Speaker 6: You may use your savings strategically in those early years

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Speaker 6: so you can maximize your guaranteed income later.

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Speaker 9: So it's not just about taking income, it's about timing

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Speaker 9: it correctly.

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Speaker 5: That's right. Every decision impacts the next one.

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Speaker 1: So where do people typically go wrong with all of this?

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Speaker 6: The biggest mistake is treating retirement like a do it

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Speaker 6: yourself paycheck. Without a plan. They just start pulling money

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Speaker 6: from accounts as they.

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Speaker 1: Need it, kind of winging it.

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Speaker 5: And that could work.

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Speaker 6: For a while, but it exposes you to risks like

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Speaker 6: market downturns, running out of money, or paying more in

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Speaker 6: taxes than necessary.

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Speaker 9: And those risks are different depending on what stage of

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Speaker 9: retirement you're in.

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Speaker 6: They are, which is why everything we talked about last week,

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Speaker 6: the go Go slogo and Nogo years needs to be

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Speaker 6: reflected in how you build your paycheck.

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Speaker 9: So today we've really laid the foundation understanding that your

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Speaker 9: retirement paycheck has to evolve just like your retirement does.

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Speaker 6: And in Part two we're going to get more specific.

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Speaker 6: We'll talk about how to structure with Darles, how to

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Speaker 6: think about taxes, and how to create a paycheck that's

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Speaker 6: designed to last.

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Speaker 9: Because at the end of the day, it's not just

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Speaker 9: about having money, it's about knowing how to use it exactly.

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Speaker 1: And if you're listening.

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Speaker 9: Today and thinking I'm not sure I've built my retirement

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Speaker 9: paycheck the right way, We've put together a great resource

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Speaker 9: for you. It's called the Safe Money Strategies Workbook. It

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Speaker 9: walks you through these concepts step by step.

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Speaker 6: It's a great starting point to help you think through

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Speaker 6: your own plan.

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Speaker 9: You can get your copy today, just reach out to

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Speaker 9: us and we'll send it your way.

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Speaker 1: Thanks for joining us this week on Safe Money Strategies.

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Speaker 9: We'll be back with Part two, building your retirement paycheck.

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Speaker 1: So stay tuned.

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

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Speaker 7: It's sorry what you've done that's important, but it's the

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Speaker 7: challenge it has been.

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Speaker 8: Sir Edmund Hillary said those words after reaching the summit

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Speaker 8: of Mount Everest, but didn't The decent is just as

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Speaker 8: perilous as the acent, and the same is true in

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Speaker 8: retirement planning.

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Speaker 5: Learn why Call.

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Speaker 8: Kelly Financial Services today for a retirement consultation.

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Speaker 5: Call eight eight eight eight.

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Speaker 8: Hundred eighteen eighty one or visit Kellyfinancial dot org. What

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Speaker 8: goes up Must come down. We're Kelly Financial. Come retire

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Speaker 8: with us.

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

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00:21:24,840 --> 00:21:28,520
Speaker 4: a fiduciary? In other words, are they legally required to

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00:21:28,680 --> 00:21:32,920
Speaker 4: act in your best interest? My complimentary book, Retire Your Fear,

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00:21:33,040 --> 00:21:36,520
Speaker 4: Plan Your Future explains what a fiduciary is and will

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00:21:36,560 --> 00:21:40,280
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 Kelly Financial dot org.

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Speaker 4: We're Kelly Financial. Come Retire with us.

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

449
00:21:55,880 --> 00:21:58,080
Speaker 3: Mary Madeline Kelly.

450
00:21:58,400 --> 00:22:01,840
Speaker 10: Hello, this is Greg Murray, vice President and Chief Confliance

451
00:22:01,880 --> 00:22:04,960
Speaker 10: Officer at Kelly Financial Services. Joining me today is Mary

452
00:22:04,960 --> 00:22:07,320
Speaker 10: Madeline Kelly, one of our wealth advisors. How are you

453
00:22:07,359 --> 00:22:07,879
Speaker 10: doing today?

454
00:22:07,960 --> 00:22:10,520
Speaker 11: I'm doing great, Greg. I've had a few decent ski

455
00:22:10,640 --> 00:22:13,920
Speaker 11: days recently. Up North is still getting some snow, which

456
00:22:13,960 --> 00:22:16,240
Speaker 11: has been a very nice surprise as we're now into

457
00:22:16,320 --> 00:22:19,679
Speaker 11: spring and I hear you're doing some spring skiing yourself

458
00:22:19,720 --> 00:22:20,199
Speaker 11: this weekend.

459
00:22:20,400 --> 00:22:22,760
Speaker 10: Absolutely every year we make our way up the Loud

460
00:22:22,800 --> 00:22:25,840
Speaker 10: Mountain for a full weekend dedicated to celebrating all things

461
00:22:25,840 --> 00:22:27,800
Speaker 10: that are eighties, and it's one of the highlights of

462
00:22:27,800 --> 00:22:29,960
Speaker 10: the year. From the moment we arrived, the whole place

463
00:22:30,000 --> 00:22:32,480
Speaker 10: is full of music in nostalgia. There's an awesome eighties

464
00:22:32,520 --> 00:22:34,800
Speaker 10: cover band that plays all the classics that you really

465
00:22:34,840 --> 00:22:35,959
Speaker 10: can't help us sing along with.

466
00:22:36,160 --> 00:22:38,600
Speaker 11: I have participated in that in the past few years,

467
00:22:38,640 --> 00:22:41,800
Speaker 11: but sadly we'll not be joining you this weekend since

468
00:22:41,840 --> 00:22:45,560
Speaker 11: I'll be celebrating my twenty ninth birthday with friends and family.

469
00:22:46,119 --> 00:22:47,760
Speaker 1: And honestly, weekends like.

470
00:22:47,720 --> 00:22:51,119
Speaker 11: This, whether it's skiing, music or time with people you

471
00:22:51,160 --> 00:22:54,280
Speaker 11: care about, are a great reminder of why we plan

472
00:22:54,440 --> 00:22:58,119
Speaker 11: financially in the first place, which actually leads really nicely

473
00:22:58,160 --> 00:23:01,480
Speaker 11: into today's topic, because while there's so many financial decisions

474
00:23:01,520 --> 00:23:04,960
Speaker 11: people face, when you zoom out, a handful of them really.

475
00:23:04,880 --> 00:23:06,440
Speaker 2: Drive the majority of outcomes.

476
00:23:06,520 --> 00:23:07,400
Speaker 1: That's exactly right.

477
00:23:07,520 --> 00:23:10,560
Speaker 10: Today, we're talking about the five most important financial decisions

478
00:23:10,560 --> 00:23:12,600
Speaker 10: you'll ever, make the ones that can have the biggest

479
00:23:12,640 --> 00:23:14,440
Speaker 10: long term impact on your financial future.

480
00:23:14,680 --> 00:23:17,520
Speaker 11: And what's interesting is that these decisions aren't about picking

481
00:23:17,520 --> 00:23:20,760
Speaker 11: the perfect stock or timing the market. They're about foundational

482
00:23:20,840 --> 00:23:22,440
Speaker 11: choices that shape everything else.

483
00:23:22,640 --> 00:23:25,080
Speaker 10: So let's jump into the first one. How much you save.

484
00:23:25,440 --> 00:23:28,880
Speaker 11: This is probably the most important factor overall. You can't

485
00:23:28,880 --> 00:23:32,679
Speaker 11: control markets, but you can control your savings rate. Consistently

486
00:23:32,720 --> 00:23:35,040
Speaker 11: saving a portion of your income over time is what

487
00:23:35,080 --> 00:23:37,880
Speaker 11: builds financial flexibility into opportunity, and.

488
00:23:37,840 --> 00:23:39,960
Speaker 10: Even small adjustments can make a big difference over the

489
00:23:40,000 --> 00:23:43,320
Speaker 10: long term, especially when combined with compounding exactly.

490
00:23:43,600 --> 00:23:45,359
Speaker 11: The second big decision is how you.

491
00:23:45,280 --> 00:23:46,240
Speaker 4: Invest that money.

492
00:23:46,320 --> 00:23:49,240
Speaker 10: Asset allocation, how much you have in stocks, bonds, cash,

493
00:23:49,280 --> 00:23:52,080
Speaker 10: and other investment plays a much larger role in outcomes

494
00:23:52,200 --> 00:23:54,320
Speaker 10: than trying to pick individual winners, and of.

495
00:23:54,280 --> 00:23:58,200
Speaker 11: Course investing involves risk, including the potential loss of principle,

496
00:23:58,440 --> 00:24:01,320
Speaker 11: but having a thoughtful, diverse fight approach aligned with your

497
00:24:01,320 --> 00:24:03,480
Speaker 11: goals can help manage that risk over time.

498
00:24:03,560 --> 00:24:06,080
Speaker 10: The third important decision is how you manage your debt.

499
00:24:06,240 --> 00:24:07,840
Speaker 4: Yes, not all debt is the same.

500
00:24:08,240 --> 00:24:11,440
Speaker 11: Some debt, like a mortgage, can be manageable within a plan,

501
00:24:11,840 --> 00:24:15,080
Speaker 11: while high interest debt can quickly become a major obstacle.

502
00:24:15,560 --> 00:24:19,000
Speaker 11: Understanding how debt fits into your overall financial picture is key.

503
00:24:19,119 --> 00:24:21,400
Speaker 10: The fourth decision is how you plan for your taxes.

504
00:24:21,560 --> 00:24:24,280
Speaker 11: This is one that people often overlook. It's not just

505
00:24:24,320 --> 00:24:26,879
Speaker 11: about how much you earn or invest, it's about how

506
00:24:26,920 --> 00:24:31,520
Speaker 11: much you keep after taxes. Decisions around retirement accounts, withdrawals

507
00:24:31,560 --> 00:24:34,160
Speaker 11: and timing can have a significant impact over time.

508
00:24:34,280 --> 00:24:36,359
Speaker 10: And the fifth decision is how you protect what you've

509
00:24:36,400 --> 00:24:37,520
Speaker 10: built exactly.

510
00:24:37,880 --> 00:24:41,440
Speaker 11: This includes insurance, estate planning, and making sure your assets

511
00:24:41,480 --> 00:24:45,000
Speaker 11: are set up to transfer according to your wishes. Without protection,

512
00:24:45,280 --> 00:24:47,320
Speaker 11: even a strong plan can be vulnerable.

513
00:24:47,400 --> 00:24:50,960
Speaker 10: So when you put those five together, saving, investing, managing debt,

514
00:24:51,040 --> 00:24:53,760
Speaker 10: planning for taxes, and protecting assets, you really have the

515
00:24:53,800 --> 00:24:55,920
Speaker 10: foundation of a comprehensive financial plan.

516
00:24:56,119 --> 00:24:59,480
Speaker 11: And what's important to remember is that these decisions are ongoing.

517
00:25:00,000 --> 00:25:03,080
Speaker 11: It's not something you decide once and forget. Life changes

518
00:25:03,200 --> 00:25:05,280
Speaker 11: and your plan should evolve with it exactly.

519
00:25:05,400 --> 00:25:08,760
Speaker 10: Career changes, family changes, market conditions. All of these can

520
00:25:08,800 --> 00:25:11,280
Speaker 10: affect how those decisions play out over time, and the.

521
00:25:11,320 --> 00:25:16,480
Speaker 11: Goal isn't perfection, it's consistency and alignment. Making thoughtful decisions

522
00:25:16,480 --> 00:25:17,640
Speaker 11: and revisiting them.

523
00:25:17,480 --> 00:25:21,400
Speaker 10: Regularly, because ultimately, financial success isn't about getting one thing

524
00:25:21,480 --> 00:25:24,800
Speaker 10: exactly right. It's about getting the big things generally right

525
00:25:24,880 --> 00:25:26,240
Speaker 10: over time, and when those.

526
00:25:26,080 --> 00:25:29,440
Speaker 11: Five areas are working together, everything tends to feel more

527
00:25:29,560 --> 00:25:30,960
Speaker 11: organized and more manageable.

528
00:25:31,160 --> 00:25:33,560
Speaker 10: And as always, we want to remind listeners that every

529
00:25:33,560 --> 00:25:37,120
Speaker 10: financial situation is unique and investing of all's risk, including

530
00:25:37,160 --> 00:25:40,040
Speaker 10: the potential loss of principle. These decisions should be made

531
00:25:40,040 --> 00:25:43,520
Speaker 10: in the context of your personal goals and circumstances.

532
00:25:42,760 --> 00:25:43,960
Speaker 1: But the takeaway is simple.

533
00:25:44,280 --> 00:25:46,720
Speaker 11: If you focus on these core decisions, you're addressing the

534
00:25:46,760 --> 00:25:48,840
Speaker 11: areas that matter most, and that's where.

535
00:25:48,640 --> 00:25:50,879
Speaker 10: We can help. At Kelly Financial. We work with clients

536
00:25:50,880 --> 00:25:54,080
Speaker 10: to bring all of these pieces together into one coordinated plan.

537
00:25:54,000 --> 00:25:56,640
Speaker 11: Because when everything is aligned, it's much easier to move

538
00:25:56,680 --> 00:25:57,840
Speaker 11: forward with confidence.

539
00:25:58,000 --> 00:26:00,000
Speaker 10: Well said, that's going to wrap things up for today.

540
00:26:00,119 --> 00:26:02,320
Speaker 10: If you'd like ol reviewing these key decisions and how

541
00:26:02,320 --> 00:26:04,440
Speaker 10: to apply them to your situation, give us a call.

542
00:26:04,480 --> 00:26:05,520
Speaker 10: We'd be happy to talk with you.

543
00:26:05,720 --> 00:26:06,680
Speaker 4: Absolutely well.

544
00:26:06,720 --> 00:26:08,600
Speaker 1: Greg, have fun skiing this weekend.

545
00:26:08,480 --> 00:26:09,800
Speaker 10: Enjoy celebrating a birthday.

546
00:26:09,960 --> 00:26:12,840
Speaker 3: To get in touch with Greg Murray or Mary Madeline

547
00:26:12,920 --> 00:26:16,480
Speaker 3: Kelly or any member of the Kelly Financial Team Call

548
00:26:16,640 --> 00:26:24,159
Speaker 3: aightat eight eight hundred, eighteen eighty one Safe Money Strategies

549
00:26:24,480 --> 00:26:27,840
Speaker 3: with William Kelly and Kelly Kelly Call the Team on

550
00:26:28,040 --> 00:26:32,960
Speaker 3: eight eight eight hundred, eighteen eighty one Take Care.

551
00:26:37,640 --> 00:26:42,400
Speaker 4: Welcome back to Save Money Strategies. I'm Kelly Kelly alongside

552
00:26:42,440 --> 00:26:46,520
Speaker 4: my son William Kelly Junior, and today in honor of

553
00:26:46,600 --> 00:26:49,960
Speaker 4: Women's History Month, we wanted to take a step back

554
00:26:50,080 --> 00:26:53,480
Speaker 4: and talk about something that really doesn't get enough attention,

555
00:26:53,800 --> 00:26:58,080
Speaker 4: and that is how retirement looks different for women and mom.

556
00:26:58,240 --> 00:27:01,520
Speaker 2: This is such an important conversation because for a long time,

557
00:27:01,560 --> 00:27:04,520
Speaker 2: retirement planning was built around a very specific model and

558
00:27:04,520 --> 00:27:07,320
Speaker 2: it didn't always reflect real life, especially for women.

559
00:27:07,640 --> 00:27:11,760
Speaker 4: That's exactly right if you think about it. For decades,

560
00:27:11,960 --> 00:27:16,439
Speaker 4: retirement planning was often based on a traditional career path,

561
00:27:17,040 --> 00:27:22,639
Speaker 4: steady income, fewer interruptions, and a very predictable timeline. But

562
00:27:22,800 --> 00:27:26,960
Speaker 4: for many women, life doesn't follow that path. Women are

563
00:27:27,119 --> 00:27:32,879
Speaker 4: often balancing careers with raising children, helping aging parents, and

564
00:27:33,040 --> 00:27:35,879
Speaker 4: managing so many responsibilities at home.

565
00:27:36,440 --> 00:27:37,879
Speaker 5: And those aren't just small things.

566
00:27:38,000 --> 00:27:41,479
Speaker 2: They're major life commitments that can impact income, savings and

567
00:27:41,520 --> 00:27:43,280
Speaker 2: even social security over time.

568
00:27:43,640 --> 00:27:48,440
Speaker 4: Exactly and even today, women still earn less on average

569
00:27:48,480 --> 00:27:52,480
Speaker 4: than men, which means it's harder to build retirement savings

570
00:27:52,520 --> 00:27:56,000
Speaker 4: over time. But here's a key point, and I really

571
00:27:56,040 --> 00:28:00,199
Speaker 4: want people to hear this. It's not a lack of discipline,

572
00:28:00,359 --> 00:28:01,760
Speaker 4: is not poor planning.

573
00:28:02,080 --> 00:28:05,160
Speaker 5: It's life, that's right, it's real life.

574
00:28:05,320 --> 00:28:07,080
Speaker 2: And when you look at all of that together, it

575
00:28:07,119 --> 00:28:09,960
Speaker 2: creates what's often called the retirement gap for women, where

576
00:28:09,960 --> 00:28:13,080
Speaker 2: many women reach retirement with fewer resources, even though they've

577
00:28:13,080 --> 00:28:15,520
Speaker 2: played such a critical role in both their families and

578
00:28:15,600 --> 00:28:16,320
Speaker 2: their careers.

579
00:28:16,480 --> 00:28:20,680
Speaker 4: And that's why retirement planning has to reflect real lives,

580
00:28:21,080 --> 00:28:27,440
Speaker 4: because women's lives often follow a very different financial path. Now, William,

581
00:28:27,720 --> 00:28:31,600
Speaker 4: one of the biggest differences we see, and this really

582
00:28:31,720 --> 00:28:34,600
Speaker 4: changes everything, is longevity.

583
00:28:35,080 --> 00:28:38,080
Speaker 2: Women tend to live longer than them often by several years,

584
00:28:38,520 --> 00:28:40,840
Speaker 2: sometimes more, depending on health and family history.

585
00:28:41,120 --> 00:28:45,800
Speaker 4: And that's a blessing. It really is more time with family,

586
00:28:46,120 --> 00:28:50,320
Speaker 4: more time with grandchildren, more time to enjoy life. But

587
00:28:50,400 --> 00:28:54,000
Speaker 4: it also means your retirement savings may need to last

588
00:28:54,240 --> 00:28:56,719
Speaker 4: twenty five, even thirty years.

589
00:28:56,960 --> 00:28:58,880
Speaker 2: And when you think about that, it's not just big

590
00:28:58,920 --> 00:29:03,719
Speaker 2: expenses ever, housing, food, travel, day to day living, and

591
00:29:03,720 --> 00:29:05,200
Speaker 2: then healthcare leader in life.

592
00:29:05,360 --> 00:29:09,200
Speaker 4: That's right. So while living longer is one of life's

593
00:29:09,240 --> 00:29:13,720
Speaker 4: greatest blessings, it also means your resources may need to

594
00:29:13,760 --> 00:29:18,320
Speaker 4: stretch further than you originally expected. And William, this connects

595
00:29:18,360 --> 00:29:21,440
Speaker 4: to something else that a lot of women don't necessarily

596
00:29:21,520 --> 00:29:22,840
Speaker 4: think about early.

597
00:29:22,520 --> 00:29:25,760
Speaker 2: On, and that's the reality that many women will eventually

598
00:29:25,880 --> 00:29:27,440
Speaker 2: navigate retirement on their own.

599
00:29:27,600 --> 00:29:32,040
Speaker 4: This is a big one. Statistically, most men pass away married,

600
00:29:32,400 --> 00:29:36,280
Speaker 4: but many women end up single later in life, and

601
00:29:36,320 --> 00:29:41,960
Speaker 4: that means at some point many women are managing finances independently,

602
00:29:42,320 --> 00:29:44,640
Speaker 4: sometimes for the first time, and.

603
00:29:44,640 --> 00:29:48,760
Speaker 2: That transition can become emotional but also financial. Suddenly you're

604
00:29:48,800 --> 00:29:53,000
Speaker 2: responsible for decisions, accounts, income streams, things that maybe you're

605
00:29:53,000 --> 00:29:55,160
Speaker 2: spouse handled before exactly.

606
00:29:55,520 --> 00:29:59,800
Speaker 4: And we've seen this firsthand with clients. Even when everything

607
00:29:59,840 --> 00:30:04,600
Speaker 4: is in good shape financially, there can still be uncertainty

608
00:30:05,200 --> 00:30:09,480
Speaker 4: where are the accounts, what does this policy do, how

609
00:30:09,480 --> 00:30:14,680
Speaker 4: does this income work? And that's why preparation matters so much,

610
00:30:15,160 --> 00:30:19,360
Speaker 4: you know, William, I've lived this personally. When your dad passed,

611
00:30:19,520 --> 00:30:22,320
Speaker 4: I was fifty five years old and he was sixty five.

612
00:30:22,880 --> 00:30:27,040
Speaker 4: And know you're never emotionally prepared for something like that,

613
00:30:27,320 --> 00:30:30,040
Speaker 4: but we had taken the time to get organized, we

614
00:30:30,120 --> 00:30:33,360
Speaker 4: had conversations, we had a plan, and in the middle

615
00:30:33,480 --> 00:30:37,600
Speaker 4: of a very, very difficult time, that made a difference.

616
00:30:38,080 --> 00:30:41,680
Speaker 4: It didn't remove the emotion, but it removed a lot

617
00:30:41,760 --> 00:30:42,920
Speaker 4: of the uncertainty.

618
00:30:43,160 --> 00:30:45,240
Speaker 2: And I remember that, and I think that's such an

619
00:30:45,240 --> 00:30:48,840
Speaker 2: important point because preparation isn't about expecting the worst.

620
00:30:49,240 --> 00:30:51,600
Speaker 5: It's about being ready for life as it happens.

621
00:30:51,760 --> 00:30:55,520
Speaker 4: That's exactly right. Your dad and I always said, you

622
00:30:55,640 --> 00:30:58,959
Speaker 4: prepare for the worst and pray for the best, and

623
00:30:59,000 --> 00:31:03,000
Speaker 4: that's really what planning is all about. Now, another piece

624
00:31:03,040 --> 00:31:06,440
Speaker 4: of this, and this is something women do beautifully, but

625
00:31:06,560 --> 00:31:09,560
Speaker 4: it does have an impact, is caregiving.

626
00:31:09,760 --> 00:31:12,680
Speaker 2: Women make up a large majority of caregivers, whether it's

627
00:31:12,720 --> 00:31:15,320
Speaker 2: for parents, spouses, or other family members.

628
00:31:15,360 --> 00:31:20,880
Speaker 4: And caregiving often means adjusting work schedules, stepping away from

629
00:31:20,920 --> 00:31:24,960
Speaker 4: a career, or even retiring earlier than planned.

630
00:31:24,840 --> 00:31:28,960
Speaker 2: Which can affect income, retirement contributions, and long term savings.

631
00:31:29,080 --> 00:31:32,280
Speaker 4: And again, this is important. Is not a negative thing.

632
00:31:32,640 --> 00:31:36,880
Speaker 4: Caregiving is one of the most meaningful roles someone can

633
00:31:36,920 --> 00:31:41,120
Speaker 4: take on, but it does have long term financial implications

634
00:31:41,480 --> 00:31:44,880
Speaker 4: and we need to acknowledge that when planning for retirement.

635
00:31:45,040 --> 00:31:47,400
Speaker 2: And there's one more trend that's really been changing the

636
00:31:47,440 --> 00:31:50,000
Speaker 2: retirement landscape, especially in recent years.

637
00:31:50,400 --> 00:31:55,360
Speaker 4: Yes, what's often called gray divorce. We're seeing more divorces

638
00:31:55,400 --> 00:32:00,200
Speaker 4: happening later in life, and that can significantly change retirement.

639
00:31:59,720 --> 00:32:03,360
Speaker 2: Plans because now, instead of one household being supported by

640
00:32:03,360 --> 00:32:06,080
Speaker 2: those savings, you're potentially supporting.

641
00:32:05,640 --> 00:32:11,480
Speaker 4: Too exactly, and that can impact everything housing decisions, lifestyle

642
00:32:11,840 --> 00:32:15,640
Speaker 4: and timing. And for women who may already have had

643
00:32:15,760 --> 00:32:20,800
Speaker 4: career interruptions due to caregiving, the financial impact can be

644
00:32:20,880 --> 00:32:21,719
Speaker 4: even greater.

645
00:32:22,080 --> 00:32:23,680
Speaker 2: So when you step back to look at all of

646
00:32:23,720 --> 00:32:29,120
Speaker 2: this career paths, longevity, independence, caregiving, and life transitions, it

647
00:32:29,200 --> 00:32:32,240
Speaker 2: becomes clear that retirement planning is not a one size

648
00:32:32,240 --> 00:32:32,880
Speaker 2: fits all.

649
00:32:32,920 --> 00:32:38,160
Speaker 4: Not even close. Retirement planning isn't just about numbers. It's

650
00:32:38,240 --> 00:32:43,120
Speaker 4: about life, and for women, those life paths often look

651
00:32:43,320 --> 00:32:46,959
Speaker 4: very different and deserve to be planned for thoughtfully.

652
00:32:47,360 --> 00:32:49,840
Speaker 2: And that's exactly what we'll talk about when we come back.

653
00:32:50,240 --> 00:32:54,600
Speaker 4: That's right, when we return, we'll walk through practical steps,

654
00:32:55,040 --> 00:32:59,520
Speaker 4: real things women can do to feel more confident, more prepared,

655
00:33:00,080 --> 00:33:02,840
Speaker 4: and more in control of their financial future.

656
00:33:03,240 --> 00:33:04,680
Speaker 5: Stay with us, we'll be right back.

657
00:33:08,440 --> 00:33:12,480
Speaker 3: Safe money strategies brought to you by Kelly Financial Services.

658
00:33:12,720 --> 00:33:16,520
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

659
00:33:16,600 --> 00:33:18,320
Speaker 3: visit Kelly Financial dot or.

660
00:33:18,600 --> 00:33:23,680
Speaker 8: There's nothing like running the Boston Marathon on mark. Even

661
00:33:23,720 --> 00:33:27,120
Speaker 8: before crossing the start line, we must spend months planning

662
00:33:27,160 --> 00:33:31,000
Speaker 8: in advance, training your body, becoming familiar with the terrain,

663
00:33:31,240 --> 00:33:35,680
Speaker 8: preparing for all weather conditions, adjusting fuel and hydration, and

664
00:33:35,840 --> 00:33:40,440
Speaker 8: testing your gear. Many runners visualize their race, setting that

665
00:33:40,680 --> 00:33:45,360
Speaker 8: personal record and seeing themselves finishing strong. When it comes

666
00:33:45,400 --> 00:33:49,440
Speaker 8: to your retirement, what do you see? A fulfilling retirement

667
00:33:49,560 --> 00:33:54,239
Speaker 8: requires the same kind of planning, preparing, adjusting, testing, and

668
00:33:54,360 --> 00:33:58,240
Speaker 8: goal setting as for a marathon. Let the retirement coaches

669
00:33:58,280 --> 00:34:01,840
Speaker 8: at Kelly Financial Services help you cross the finish line

670
00:34:02,080 --> 00:34:04,680
Speaker 8: in the greatest race of your life. So call eight

671
00:34:04,720 --> 00:34:08,759
Speaker 8: eight eight eight hundred eighteen eighty one or visit Kellyfinancial

672
00:34:08,840 --> 00:34:12,720
Speaker 8: dot Org. On your mark, get set, go to Kelly

673
00:34:12,760 --> 00:34:20,279
Speaker 8: Financial Services, Come retire with us. I'm John Boudris, and

674
00:34:20,400 --> 00:34:23,360
Speaker 8: welcome to a new edition of Kelly Financial's What would

675
00:34:23,360 --> 00:34:26,680
Speaker 8: Bill Say? The wit and wisdom of the late Bill Kelly.

676
00:34:27,160 --> 00:34:29,680
Speaker 8: Today we'll address fact from fiction.

677
00:34:30,200 --> 00:34:32,400
Speaker 12: You can always make money if you haven't, if you

678
00:34:32,480 --> 00:34:35,160
Speaker 12: lose it all. It's very difficult to do that. So

679
00:34:35,200 --> 00:34:37,399
Speaker 12: you have to have a plan. If the market goes

680
00:34:37,880 --> 00:34:40,080
Speaker 12: up quite a bit or down quite a bit, you

681
00:34:40,200 --> 00:34:42,520
Speaker 12: have to be ready. And how do you sort fact

682
00:34:42,560 --> 00:34:43,120
Speaker 12: from fiction?

683
00:34:43,440 --> 00:34:47,960
Speaker 8: Download Kelly Financial's consumer Guide simply called the value of

684
00:34:48,000 --> 00:34:51,439
Speaker 8: an objective opinion. With so much at stake with your

685
00:34:51,480 --> 00:34:55,920
Speaker 8: retirement future, you don't just want any financial advice, but

686
00:34:56,120 --> 00:35:01,160
Speaker 8: objective financial advice, and as a fiduciary, Lly Financial puts

687
00:35:01,320 --> 00:35:05,920
Speaker 8: your interests above all else. Go to Kellyfinancial dot org

688
00:35:06,120 --> 00:35:09,000
Speaker 8: or call eight eight eight eight hundred and eighteen eighty

689
00:35:09,040 --> 00:35:10,320
Speaker 8: one to get the guide.

690
00:35:10,440 --> 00:35:12,680
Speaker 12: Ladies and gentlemen sort fact from fiction.

691
00:35:12,880 --> 00:35:16,239
Speaker 8: We are Kelly Financial Services. Come retire with.

692
00:35:16,320 --> 00:35:22,080
Speaker 3: Us Safe Money Strategies with William Kelly and Kelly Kelly.

693
00:35:22,320 --> 00:35:25,759
Speaker 3: Call the team on eight eight eight eight hundred, eighteen

694
00:35:25,960 --> 00:35:26,600
Speaker 3: eighty one.

695
00:35:27,280 --> 00:35:28,200
Speaker 6: Take in care.

696
00:35:31,080 --> 00:35:35,600
Speaker 4: Welcome back to Save Money Strategies. I'm Kelly Kelly here

697
00:35:35,640 --> 00:35:40,040
Speaker 4: with my son William Kelly Junior. In our last segment,

698
00:35:40,160 --> 00:35:44,160
Speaker 4: we talked about why retirement can look different for women,

699
00:35:44,480 --> 00:35:52,319
Speaker 4: longer lifespans, caregiving responsibilities, and often navigating retirement independently. Now

700
00:35:52,440 --> 00:35:56,840
Speaker 4: we want to shift the conversation to something just as important,

701
00:35:57,040 --> 00:35:59,480
Speaker 4: and that is what you can actually do about it.

702
00:36:00,000 --> 00:36:02,719
Speaker 2: And that's the key, because once you understand the challenges,

703
00:36:03,000 --> 00:36:05,799
Speaker 2: the next step is taking control where you can, and

704
00:36:05,880 --> 00:36:08,480
Speaker 2: one of the most important places to start is simply

705
00:36:08,600 --> 00:36:10,120
Speaker 2: understanding your financial picture.

706
00:36:10,280 --> 00:36:13,640
Speaker 4: That's right, one of the most important things you can

707
00:36:13,719 --> 00:36:19,240
Speaker 4: do is just become informed and engaged. That means knowing

708
00:36:19,280 --> 00:36:24,640
Speaker 4: where your accounts are, understanding your income sources, and having

709
00:36:24,719 --> 00:36:30,880
Speaker 4: access to important documents. Now, in many households, responsibilities are divided,

710
00:36:31,080 --> 00:36:34,960
Speaker 4: and that's completely fine, but both people should have a

711
00:36:35,160 --> 00:36:38,240
Speaker 4: clear understanding of how things work.

712
00:36:37,960 --> 00:36:40,120
Speaker 2: And even something as simple as sitting down once or

713
00:36:40,160 --> 00:36:42,880
Speaker 2: twice a year and reviewing everything together can make a

714
00:36:42,880 --> 00:36:46,120
Speaker 2: big difference. It keeps both people informed and avoids that

715
00:36:46,160 --> 00:36:49,320
Speaker 2: situation where one person is suddenly trying to figure everything

716
00:36:49,320 --> 00:36:50,080
Speaker 2: out on their own.

717
00:36:50,280 --> 00:36:55,000
Speaker 4: Exactly because knowledge doesn't just help you make better decisions,

718
00:36:55,440 --> 00:36:59,160
Speaker 4: it gives you peace of mind. Now, another important step,

719
00:36:59,440 --> 00:37:03,480
Speaker 4: especially for women, is planning with longevity and.

720
00:37:03,560 --> 00:37:07,280
Speaker 2: Mind right, since women tend to live longer. Retirement planning

721
00:37:07,280 --> 00:37:10,600
Speaker 2: isn't just about reaching retirement. It's about sustaining a lifestyle

722
00:37:10,640 --> 00:37:12,279
Speaker 2: for potentially decades, and.

723
00:37:12,200 --> 00:37:16,319
Speaker 4: That includes more than finances. It's about how you live,

724
00:37:16,719 --> 00:37:24,239
Speaker 4: staying active, maintaining relationships, continuing to learn, staying engaged. Those

725
00:37:24,320 --> 00:37:27,839
Speaker 4: things matter just as much as the numbers, and.

726
00:37:27,800 --> 00:37:31,319
Speaker 2: We're seeing more people create flexible retirements, whether that's part

727
00:37:31,320 --> 00:37:35,240
Speaker 2: time work, consulting, volunteering, things that keep structure and purpose

728
00:37:35,280 --> 00:37:35,840
Speaker 2: in their lives.

729
00:37:36,080 --> 00:37:40,399
Speaker 4: That's right. A fulfilling retirement isn't just about how long

730
00:37:40,480 --> 00:37:46,160
Speaker 4: you live, it's about how actively and meaningfully you live. Now.

731
00:37:46,239 --> 00:37:49,960
Speaker 4: Another area that can have a major impact is housing,

732
00:37:50,360 --> 00:37:50,640
Speaker 4: and for.

733
00:37:50,680 --> 00:37:53,040
Speaker 2: Many people, that's the largest expense of retirement.

734
00:37:53,239 --> 00:37:59,320
Speaker 4: Exactly so thinking ahead is important. Some people choose to downsize,

735
00:37:59,640 --> 00:38:05,080
Speaker 4: others look at communities that offer more support and social opportunities,

736
00:38:05,280 --> 00:38:08,719
Speaker 4: and some want to stay right where they are but

737
00:38:09,000 --> 00:38:12,080
Speaker 4: may need to make adjustments to do that comfortably.

738
00:38:12,600 --> 00:38:15,200
Speaker 2: The key is making those decisions ahead of time, rather

739
00:38:15,239 --> 00:38:16,600
Speaker 2: than being forced into them later.

740
00:38:16,960 --> 00:38:20,680
Speaker 4: That's exactly right. The best decisions are the ones made

741
00:38:20,760 --> 00:38:26,839
Speaker 4: before they become necessary. Another topic we touched on earlier caregiving,

742
00:38:27,320 --> 00:38:27,920
Speaker 4: and this is a.

743
00:38:27,840 --> 00:38:30,200
Speaker 2: Big one because many women find themselves in that role

744
00:38:30,239 --> 00:38:30,800
Speaker 2: at some point.

745
00:38:31,080 --> 00:38:35,480
Speaker 4: Yes, and planning ahead can make a meaningful difference. Having

746
00:38:35,560 --> 00:38:41,120
Speaker 4: conversations within the family, who will help, what resources are available,

747
00:38:41,520 --> 00:38:47,120
Speaker 4: what support systems are in place. Those are important discussions.

748
00:38:46,680 --> 00:38:50,880
Speaker 2: And there is also community resources, support groups, senior services

749
00:38:50,920 --> 00:38:53,320
Speaker 2: programs that can help lighten the load.

750
00:38:53,560 --> 00:38:58,719
Speaker 4: Exactly because caregiving is much easier to navigate when families

751
00:38:58,880 --> 00:39:03,719
Speaker 4: plan together rather than react in the moment. Now, William,

752
00:39:03,960 --> 00:39:07,399
Speaker 4: I think one of the most important pieces of all

753
00:39:07,440 --> 00:39:09,279
Speaker 4: of this is confidence.

754
00:39:09,719 --> 00:39:12,560
Speaker 2: It is and interestingly, a lot of studies show that

755
00:39:12,600 --> 00:39:15,759
Speaker 2: women sometimes feel less confident when it comes to financial decisions,

756
00:39:15,800 --> 00:39:19,280
Speaker 2: but that gap can close very quickly with education and involvement.

757
00:39:19,560 --> 00:39:23,920
Speaker 4: That's exactly right, because women bring so many strengths to

758
00:39:24,000 --> 00:39:29,560
Speaker 4: financial planning, discipline, patience, long term thinking, and when you

759
00:39:29,680 --> 00:39:35,480
Speaker 4: combine that with knowledge and engagement, it creates real confidence.

760
00:39:35,840 --> 00:39:39,280
Speaker 2: And that confidence comes from understanding the plan and understanding

761
00:39:39,280 --> 00:39:39,920
Speaker 2: your role in it.

762
00:39:40,200 --> 00:39:43,720
Speaker 4: And that really brings us to something we've put together

763
00:39:43,880 --> 00:39:48,240
Speaker 4: to help with this conversation. We've created a guide called

764
00:39:48,440 --> 00:39:52,160
Speaker 4: Women Retire Too, and it walks through many of the

765
00:39:52,200 --> 00:39:58,359
Speaker 4: things we've talked about today, longevity, caregiving, independence, and how

766
00:39:58,400 --> 00:40:01,800
Speaker 4: to prepare for them in a thoughtful, practical way.

767
00:40:02,239 --> 00:40:04,600
Speaker 2: It's designed to help bring clarity so that you can

768
00:40:04,640 --> 00:40:07,440
Speaker 2: better understand where you are, what to consider, and how

769
00:40:07,480 --> 00:40:08,800
Speaker 2: to start putting a plan together.

770
00:40:09,160 --> 00:40:11,879
Speaker 4: If you'd like a copy of that guide, you can

771
00:40:11,960 --> 00:40:16,919
Speaker 4: simply email us at Kelly at Kellyfinancial dot org and

772
00:40:17,000 --> 00:40:19,840
Speaker 4: we'll be happy to send it to you. Is something

773
00:40:19,920 --> 00:40:23,560
Speaker 4: we put together to help educate and support you as

774
00:40:23,640 --> 00:40:25,640
Speaker 4: you think through these decisions.

775
00:40:26,080 --> 00:40:29,600
Speaker 2: As we talked about today, this isn't about having everything perfect.

776
00:40:29,719 --> 00:40:33,880
Speaker 2: It's about being informed, being prepared, and taking steps forward.

777
00:40:34,160 --> 00:40:38,440
Speaker 4: That's exactly right, because life doesn't always go according to plan,

778
00:40:38,800 --> 00:40:41,600
Speaker 4: but when you have a plan in place, it can

779
00:40:41,640 --> 00:40:45,880
Speaker 4: make all the difference. And I've seen that not just professionally,

780
00:40:46,160 --> 00:40:51,880
Speaker 4: but personally as well. Preparation may not prevent life surprises,

781
00:40:52,360 --> 00:40:54,960
Speaker 4: but it gives you the strength to face them.

782
00:40:55,040 --> 00:40:56,600
Speaker 5: And that's really what this is about.

783
00:40:56,719 --> 00:40:59,600
Speaker 4: It is and as always, if you have any questions

784
00:40:59,680 --> 00:41:03,280
Speaker 4: or want to learn more, we're here for you. Thanks

785
00:41:03,320 --> 00:41:05,080
Speaker 4: so much for joining us today.

786
00:41:05,280 --> 00:41:06,200
Speaker 5: We'll see you next time.

787
00:41:08,960 --> 00:41:13,120
Speaker 3: Safe Money Strategies brought to you by Kelly Financial Services.

788
00:41:13,239 --> 00:41:17,040
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

789
00:41:17,120 --> 00:41:19,080
Speaker 3: visit Kellyfinancial dot org.

790
00:41:20,480 --> 00:41:23,080
Speaker 9: Welcome back to Safe Money Strategies. I'm Mike du Set

791
00:41:23,200 --> 00:41:27,000
Speaker 9: here with Greg Workman. Today, we're continuing our conversation on

792
00:41:27,280 --> 00:41:29,000
Speaker 9: building your retirement paycheck.

793
00:41:29,200 --> 00:41:30,479
Speaker 1: In part one, we.

794
00:41:30,400 --> 00:41:33,920
Speaker 9: Talked about the shift from saving to spending the importance

795
00:41:33,920 --> 00:41:38,200
Speaker 9: of creating income, and we introduced our hypothetical couple John

796
00:41:38,400 --> 00:41:42,480
Speaker 9: and Lisa recently retired with about a million dollars saved, and.

797
00:41:42,480 --> 00:41:45,560
Speaker 6: More importantly, Mike, we talked about the idea that retirement

798
00:41:45,719 --> 00:41:49,759
Speaker 6: isn't just one long phase. It evolves, so your paycheck

799
00:41:50,000 --> 00:41:51,040
Speaker 6: has to evolve with it.

800
00:41:51,239 --> 00:41:54,320
Speaker 1: Exactly. So let's pick up there. We've got John and Lisa.

801
00:41:54,560 --> 00:41:57,520
Speaker 9: They understand they need income, but now the question becomes

802
00:41:57,840 --> 00:41:59,479
Speaker 9: how do they actually structure it.

803
00:41:59,600 --> 00:42:01,880
Speaker 5: The first thing we do is segment their money.

804
00:42:02,160 --> 00:42:05,719
Speaker 6: Instead of looking at one big pool of assets, we

805
00:42:05,800 --> 00:42:09,760
Speaker 6: break it into buckets based on when they'll need the income.

806
00:42:09,960 --> 00:42:13,000
Speaker 9: So this is where strategy really starts to take shape.

807
00:42:13,080 --> 00:42:14,680
Speaker 5: Exactly. Think of it like this.

808
00:42:15,400 --> 00:42:19,040
Speaker 6: Short term money that's one bucket and that could comprise

809
00:42:19,120 --> 00:42:22,400
Speaker 6: the next one to three years, Mid term money could

810
00:42:22,400 --> 00:42:25,319
Speaker 6: look forward to ten years out, and finally there's the

811
00:42:25,440 --> 00:42:28,919
Speaker 6: long term money, the final bucket, which could be ten

812
00:42:28,960 --> 00:42:29,640
Speaker 6: plus years.

813
00:42:29,760 --> 00:42:30,920
Speaker 1: And why is that important?

814
00:42:31,080 --> 00:42:32,560
Speaker 5: Because it helps manage risk.

815
00:42:32,800 --> 00:42:36,160
Speaker 6: If John and Lisa need income this year, we don't

816
00:42:36,200 --> 00:42:40,319
Speaker 6: want that money exposed to market volatility. That short term

817
00:42:40,360 --> 00:42:43,439
Speaker 6: bucket should be stable and reliable.

818
00:42:42,920 --> 00:42:45,040
Speaker 1: So they're not forced to sell investments when the market

819
00:42:45,080 --> 00:42:45,439
Speaker 1: is down.

820
00:42:45,680 --> 00:42:48,640
Speaker 6: Exactly. That's one of the biggest risks in retirement.

821
00:42:48,800 --> 00:42:51,200
Speaker 9: Let's talk about that because this is something people don't

822
00:42:51,239 --> 00:42:53,600
Speaker 9: always understand sequence of returns risk.

823
00:42:53,800 --> 00:42:54,640
Speaker 5: It's critical.

824
00:42:54,920 --> 00:42:58,000
Speaker 6: If John and Lisa retire and the market drops early

825
00:42:58,040 --> 00:43:01,399
Speaker 6: in retirement, they're pulling income at the same time. That

826
00:43:01,520 --> 00:43:05,440
Speaker 6: combination can do real damage to their portfolio, even.

827
00:43:05,239 --> 00:43:06,719
Speaker 1: If the market recovers later.

828
00:43:06,680 --> 00:43:11,080
Speaker 6: Even then, because they've locked in losses by withdrawing during

829
00:43:11,120 --> 00:43:11,840
Speaker 6: the downturn.

830
00:43:12,000 --> 00:43:14,400
Speaker 1: So the order of returns MATT is just as much

831
00:43:14,480 --> 00:43:15,680
Speaker 1: as the returns.

832
00:43:15,239 --> 00:43:16,520
Speaker 5: Themselves, exactly.

833
00:43:16,560 --> 00:43:20,440
Speaker 6: That's why having short term income in that first bucket

834
00:43:20,800 --> 00:43:24,280
Speaker 6: is so important. It gives you time for the rest

835
00:43:24,280 --> 00:43:27,680
Speaker 6: of your portfolio to absorb the ups and downs of

836
00:43:27,719 --> 00:43:28,240
Speaker 6: the market.

837
00:43:28,480 --> 00:43:31,920
Speaker 9: Now, let's layer in another piece, taxes, because where you

838
00:43:31,960 --> 00:43:34,000
Speaker 9: take money from MATT is just as much as how

839
00:43:34,080 --> 00:43:34,840
Speaker 9: much you take.

840
00:43:34,920 --> 00:43:35,800
Speaker 5: It, really does.

841
00:43:36,440 --> 00:43:40,320
Speaker 6: Most people have different types of accounts pre tax accounts

842
00:43:40,400 --> 00:43:44,080
Speaker 6: like four to one KS and iras after tax savings

843
00:43:44,160 --> 00:43:45,920
Speaker 6: and sometimes.

844
00:43:45,560 --> 00:43:47,840
Speaker 1: Roth IRA, and each one is taxed differently.

845
00:43:48,120 --> 00:43:52,000
Speaker 6: Exactly, if John and Lisa just start pulling everything from

846
00:43:52,080 --> 00:43:55,640
Speaker 6: their IRA, they could end up pushing themselves into a

847
00:43:55,680 --> 00:43:56,800
Speaker 6: higher tax bracket.

848
00:43:56,880 --> 00:44:00,240
Speaker 9: So it's not just about income, it's about net income.

849
00:44:00,160 --> 00:44:03,960
Speaker 6: That's right, What do you actually keep after taxes?

850
00:44:04,239 --> 00:44:06,760
Speaker 1: So how might this look for John and Lisa.

851
00:44:07,000 --> 00:44:09,680
Speaker 6: Let's say they need seventy thousand a year, maybe forty

852
00:44:09,719 --> 00:44:12,680
Speaker 6: thousand incomes from Social Security once they turn it on.

853
00:44:12,960 --> 00:44:15,360
Speaker 1: That leaves a thirty thousand dollars gap exactly.

854
00:44:15,719 --> 00:44:19,120
Speaker 6: Instead of pulling the entire thirty thousand from their IRA,

855
00:44:19,840 --> 00:44:23,080
Speaker 6: we might split it some from the IRA, some from

856
00:44:23,080 --> 00:44:27,000
Speaker 6: after tax savings, and maybe even some from ROTH depending

857
00:44:27,040 --> 00:44:28,000
Speaker 6: upon the situation.

858
00:44:28,360 --> 00:44:30,480
Speaker 1: So you're controlling their tax bracket.

859
00:44:30,640 --> 00:44:31,279
Speaker 5: That's the goal.

860
00:44:31,560 --> 00:44:34,439
Speaker 6: Over time, that can make a significant difference in how

861
00:44:34,480 --> 00:44:35,600
Speaker 6: long their money lasts.

862
00:44:35,719 --> 00:44:38,200
Speaker 9: Now, let's go back to something we talked about last week,

863
00:44:38,400 --> 00:44:41,840
Speaker 9: the stages of retirement. Because income shouldn't stay flat forever.

864
00:44:42,000 --> 00:44:44,920
Speaker 6: It should, John and Lisa might spend more in their

865
00:44:44,960 --> 00:44:48,920
Speaker 6: go go years, travel hobbies, experiences, moving.

866
00:44:48,680 --> 00:44:50,640
Speaker 1: Around than spending slows down.

867
00:44:50,920 --> 00:44:54,600
Speaker 6: Right In the slogo years, expenses often decrease or drop

868
00:44:54,680 --> 00:44:57,920
Speaker 6: off a bit, and then in the nogo years, spending shifts,

869
00:44:58,400 --> 00:45:02,760
Speaker 6: let's discretionary fun stuff and more healthcare.

870
00:45:02,320 --> 00:45:05,200
Speaker 1: Related, so their paycheck needs to adjust along the way.

871
00:45:05,480 --> 00:45:06,000
Speaker 5: Exactly.

872
00:45:06,080 --> 00:45:09,520
Speaker 6: A good plan builds in flexibility instead of assuming a

873
00:45:09,600 --> 00:45:10,560
Speaker 6: fixed withdrawal.

874
00:45:10,600 --> 00:45:13,680
Speaker 1: Forever, that word flexibility keeps coming up.

875
00:45:13,600 --> 00:45:15,840
Speaker 5: Because retirement is unpredictable.

876
00:45:16,320 --> 00:45:20,319
Speaker 6: Markets change, expenses change, and health changes, so.

877
00:45:20,280 --> 00:45:22,279
Speaker 1: A rigid plan can break exactly.

878
00:45:22,360 --> 00:45:25,359
Speaker 6: For example, if the market has a strong year, maybe

879
00:45:25,480 --> 00:45:28,080
Speaker 6: John and Lisa can take a little extra for travel.

880
00:45:28,480 --> 00:45:31,360
Speaker 6: If the market is down, maybe they pull back slightly

881
00:45:31,719 --> 00:45:34,759
Speaker 6: and rely more on their safer income sources.

882
00:45:34,880 --> 00:45:35,680
Speaker 1: So it's dynamic.

883
00:45:35,960 --> 00:45:39,759
Speaker 6: That's the key. A retirement paycheck shouldn't be set on autopilot.

884
00:45:39,960 --> 00:45:42,319
Speaker 6: It should be monitored and adjusted over time.

885
00:45:42,440 --> 00:45:43,799
Speaker 5: So when you pull all of.

886
00:45:43,760 --> 00:45:49,279
Speaker 9: This together, segmenting assets, managing risk, planning for taxes, adjusting

887
00:45:49,280 --> 00:45:53,399
Speaker 9: over time, what does that really give someone confidence? That's

888
00:45:53,400 --> 00:45:56,040
Speaker 9: what people are really looking for, not just a number

889
00:45:56,040 --> 00:45:56,680
Speaker 9: on a statement.

890
00:45:56,840 --> 00:45:59,160
Speaker 6: Exactly. They want to know, can I spend this money?

891
00:45:59,200 --> 00:46:01,919
Speaker 6: Am I going to be okay ten, twenty thirty years

892
00:46:01,960 --> 00:46:02,359
Speaker 6: from now?

893
00:46:02,480 --> 00:46:05,400
Speaker 9: And that confidence comes from having a plan, not guessing.

894
00:46:05,760 --> 00:46:08,600
Speaker 9: So if you're listening today, here's the question you should

895
00:46:08,600 --> 00:46:12,400
Speaker 9: be asking yourself, have I actually built a retirement paycheck

896
00:46:12,680 --> 00:46:14,359
Speaker 9: or am I just taking withdrawals?

897
00:46:14,560 --> 00:46:17,760
Speaker 6: Because there's a big difference, and if your plan doesn't

898
00:46:17,760 --> 00:46:21,799
Speaker 6: account for market risk, taxes, or how you're spending your

899
00:46:21,800 --> 00:46:25,200
Speaker 6: money over time, you could leave yourself exposed.

900
00:46:25,440 --> 00:46:28,200
Speaker 9: That's why we put together the Safe Money Strategies workbook.

901
00:46:28,280 --> 00:46:31,080
Speaker 9: It's designed to help you start thinking through these decisions,

902
00:46:31,239 --> 00:46:33,840
Speaker 9: how to turn your savings into income, and how to

903
00:46:33,880 --> 00:46:35,440
Speaker 9: build a plan that evolves with you.

904
00:46:35,680 --> 00:46:39,239
Speaker 6: It's a great resource whether you're close to retirement or

905
00:46:39,560 --> 00:46:40,520
Speaker 6: you're already there.

906
00:46:40,719 --> 00:46:42,680
Speaker 9: You can get your copy today. Just reach out to

907
00:46:42,760 --> 00:46:44,880
Speaker 9: us and we'll send it your way. Thanks again for

908
00:46:44,960 --> 00:46:46,600
Speaker 9: joining us on Safe Money Strategies.

909
00:46:46,680 --> 00:46:47,640
Speaker 1: We'll see you next week.

910
00:46:52,480 --> 00:46:55,080
Speaker 4: I'm Kelly Kelly. Now that spring is in the air,

911
00:46:55,320 --> 00:46:59,120
Speaker 4: many families are thinking about fresh starts, not just financially,

912
00:46:59,239 --> 00:47:02,120
Speaker 4: but how we can pair the next generation for life.

913
00:47:02,200 --> 00:47:05,440
Speaker 4: At Kelly Financial, our work has always been about helping

914
00:47:05,480 --> 00:47:09,440
Speaker 4: families make thoughtful long term decisions, including how the next

915
00:47:09,480 --> 00:47:13,400
Speaker 4: generation gets started. And while all investing involves risk, including

916
00:47:13,440 --> 00:47:17,239
Speaker 4: the potential loss of principle, we believe education and good

917
00:47:17,239 --> 00:47:20,640
Speaker 4: habits are the foundation for smart choices over time. That's

918
00:47:20,680 --> 00:47:23,880
Speaker 4: why we're offering Only the Good invest Young, a book

919
00:47:23,880 --> 00:47:27,120
Speaker 4: written by my son, William Kelly Junior. It's a clear,

920
00:47:27,320 --> 00:47:31,040
Speaker 4: encouraging guide to the basics of money, responsibility and habits

921
00:47:31,040 --> 00:47:34,239
Speaker 4: that matter over time. If you have a child, a grandchild,

922
00:47:34,360 --> 00:47:37,520
Speaker 4: for someone just beginning, this is a thoughtful place to start.

923
00:47:37,719 --> 00:47:41,760
Speaker 4: We're offering a complimentary signed copy to our WRKO listeners

924
00:47:41,840 --> 00:47:44,800
Speaker 4: and clients. Call eight eight eight eight hundred and eighteen

925
00:47:44,840 --> 00:47:48,399
Speaker 4: eighty one or email Kellie at Kellyfinancial dot org.

926
00:47:50,560 --> 00:47:55,000
Speaker 7: Joining us now as she always does at this time.

927
00:47:55,480 --> 00:47:59,880
Speaker 7: She is the co founder, CEO, and president of kel

928
00:48:00,320 --> 00:48:07,719
Speaker 7: Financial Services. And yes, that is her wonderful name, Kelly Kelly.

929
00:48:08,000 --> 00:48:13,520
Speaker 4: Kelly, How are you good morning, Jeff. I am good.

930
00:48:13,920 --> 00:48:17,480
Speaker 4: With March being Women's History Month, we've been talking about

931
00:48:17,520 --> 00:48:22,400
Speaker 4: something that really deserves more attention, how retirement looks different

932
00:48:22,480 --> 00:48:27,040
Speaker 4: for women. The reality is women tend to live longer,

933
00:48:27,360 --> 00:48:30,120
Speaker 4: They're more likely to step away from work to care

934
00:48:30,200 --> 00:48:34,839
Speaker 4: for family, and many find themselves managing finances on their

935
00:48:34,880 --> 00:48:38,920
Speaker 4: own later in life. Those are important factors, and while

936
00:48:39,040 --> 00:48:42,960
Speaker 4: they don't make retirement harder, they do make planning even

937
00:48:43,120 --> 00:48:48,320
Speaker 4: more important. That's exactly why we've created our investor Guide

938
00:48:48,480 --> 00:48:52,800
Speaker 4: Women Retire Too. It walks through some of these unique

939
00:48:52,920 --> 00:48:58,000
Speaker 4: challenges and offers thoughtful insights to help women approach retirement

940
00:48:58,080 --> 00:49:01,880
Speaker 4: with more clarity and comp efidence. If you'd like a

941
00:49:01,880 --> 00:49:06,120
Speaker 4: complimentary copy, give us a call or email us at

942
00:49:06,239 --> 00:49:11,040
Speaker 4: Kelly at Kellyfinancial dot org. Jeff, have a wonderful weekend,

943
00:49:11,200 --> 00:49:13,160
Speaker 4: My best Grace, send the kiddos.

944
00:49:13,640 --> 00:49:16,440
Speaker 7: Thank you, Kelly, all the best to you and everyone

945
00:49:16,520 --> 00:49:20,160
Speaker 7: at Kelly Financial. To get a free copy of that guide,

946
00:49:20,200 --> 00:49:21,960
Speaker 7: and I urge all of you if you can do

947
00:49:22,080 --> 00:49:26,000
Speaker 7: get it call now eight eight eight eight hundred, eighteen

948
00:49:26,160 --> 00:49:29,759
Speaker 7: eighty one eight eighty eight eight hundred eighteen eighty one,

949
00:49:30,440 --> 00:49:35,120
Speaker 7: or you can actually email Kelly herself personally Kelly at

950
00:49:35,239 --> 00:49:36,919
Speaker 7: Kellyfinancial dot org.

951
00:49:37,320 --> 00:49:41,160
Speaker 5: That's Kelly Kelly Financial dot org.

952
00:49:46,920 --> 00:49:54,359
Speaker 3: Safe Money Strategies at eight eight hundred one eight eight one.

953
00:49:54,560 --> 00:49:57,440
Speaker 4: Every week we like to pause for a moment and

954
00:49:57,520 --> 00:50:01,640
Speaker 4: hear a reflection from Bill Kelly. Bill had a special

955
00:50:01,680 --> 00:50:05,680
Speaker 4: way of reminding us that some of life's most important

956
00:50:05,800 --> 00:50:10,279
Speaker 4: lessons were not learned in a classroom, but through responsibility,

957
00:50:10,600 --> 00:50:14,720
Speaker 4: hard work, and showing up when it mattered. In this memory,

958
00:50:14,880 --> 00:50:17,560
Speaker 4: Bill takes us back to his paper route and the

959
00:50:17,680 --> 00:50:21,480
Speaker 4: lessons it taught him at a very young age. Here's

960
00:50:21,560 --> 00:50:24,120
Speaker 4: Bill Kelly.

961
00:50:24,280 --> 00:50:27,040
Speaker 12: Everything I needed to know in life I learned on

962
00:50:27,080 --> 00:50:30,520
Speaker 12: my paper route. I still don't know how at age

963
00:50:30,840 --> 00:50:33,120
Speaker 12: eight and a half I could get one hundred and

964
00:50:33,160 --> 00:50:36,960
Speaker 12: fourteen papers blowed them onto my swin bike in the summer,

965
00:50:37,000 --> 00:50:39,040
Speaker 12: in the winter, in the snow, in the dark, in

966
00:50:39,080 --> 00:50:42,239
Speaker 12: the light. It was an evening paper. I rode my

967
00:50:42,320 --> 00:50:45,200
Speaker 12: bike from our farm about two miles up to a

968
00:50:45,360 --> 00:50:48,680
Speaker 12: lane in the middle of the country, and the newspaper

969
00:50:48,719 --> 00:50:51,880
Speaker 12: dropped the papers off. There was me and the Karen's kids,

970
00:50:52,040 --> 00:50:55,200
Speaker 12: and we sat there and waited. If it was raining, snowing,

971
00:50:55,360 --> 00:50:58,279
Speaker 12: whatever it was doing. Our parents didn't take the van

972
00:50:59,000 --> 00:51:01,440
Speaker 12: and loaded up with gas and then have us go

973
00:51:01,480 --> 00:51:03,680
Speaker 12: out and throw the papers out of the window. Those

974
00:51:03,800 --> 00:51:06,520
Speaker 12: days were not yet with us, ladies and gentlemen, so

975
00:51:06,719 --> 00:51:08,160
Speaker 12: we waited for those papers.

976
00:51:08,200 --> 00:51:08,680
Speaker 5: They came.

977
00:51:08,719 --> 00:51:12,399
Speaker 12: They were wrapped in a tight wound copper wire, which

978
00:51:12,440 --> 00:51:14,840
Speaker 12: we knew how to unwind, and then we'd fold the

979
00:51:14,880 --> 00:51:17,640
Speaker 12: copper wire put it in our paper bag. There was

980
00:51:17,680 --> 00:51:19,960
Speaker 12: a cover sheet, we'd pull that up there too. We

981
00:51:20,080 --> 00:51:22,640
Speaker 12: stacked the newspapers in our bag and then I would

982
00:51:22,680 --> 00:51:25,440
Speaker 12: fill the back of my bike. I'd roll the papers up,

983
00:51:25,480 --> 00:51:27,839
Speaker 12: fill them in the baskets, you know, if I would go.

984
00:51:28,600 --> 00:51:32,520
Speaker 12: First stop was the High Towers. The two brothers played football.

985
00:51:33,000 --> 00:51:36,080
Speaker 12: They were tremendous people. Missus High Tower and her daughter

986
00:51:36,160 --> 00:51:39,200
Speaker 12: were always there to answer the door. Missus High Tower,

987
00:51:39,239 --> 00:51:42,200
Speaker 12: her husband was a captain in the navy. She was

988
00:51:42,239 --> 00:51:44,800
Speaker 12: about the nicest woman on earth. They always had something

989
00:51:44,840 --> 00:51:47,960
Speaker 12: to say to me. It was great. Across the street

990
00:51:48,080 --> 00:51:50,759
Speaker 12: the Kirbys. They had a house for their mother and

991
00:51:50,840 --> 00:51:53,839
Speaker 12: they had a big colonial in which they lived, and

992
00:51:54,560 --> 00:51:57,440
Speaker 12: they were very high tippers. Took very good care of me.

993
00:51:57,840 --> 00:52:00,200
Speaker 12: And I'd cross the street again and go to what

994
00:52:00,239 --> 00:52:02,839
Speaker 12: we call the trailer park now there Bobble Home Park.

995
00:52:02,880 --> 00:52:04,759
Speaker 12: I'd go through all those people. They all were in

996
00:52:04,800 --> 00:52:08,040
Speaker 12: the navy pretty much, and they treated me pretty well.

997
00:52:08,440 --> 00:52:10,880
Speaker 12: The woman that ran the trailer park never gave me

998
00:52:10,880 --> 00:52:14,080
Speaker 12: a tip, but every Christmas she give me a twenty

999
00:52:14,120 --> 00:52:17,120
Speaker 12: four pack of life Savers in a little box with

1000
00:52:17,200 --> 00:52:20,040
Speaker 12: Christmas wrapping, and off I would go down the lane.

1001
00:52:20,040 --> 00:52:22,920
Speaker 12: The next one. Mister Santos and his father had a farm.

1002
00:52:23,320 --> 00:52:25,120
Speaker 12: They had cows. They gave me a buck a week.

1003
00:52:25,160 --> 00:52:28,520
Speaker 12: The paper was forty three cents, and I gave them

1004
00:52:28,640 --> 00:52:31,840
Speaker 12: two papers, one for the father went for his son

1005
00:52:31,960 --> 00:52:34,200
Speaker 12: in the house, and then down the road I went

1006
00:52:34,440 --> 00:52:37,719
Speaker 12: the Smiths. Mister Gardey was the superintendent of schools. I

1007
00:52:37,840 --> 00:52:40,080
Speaker 12: just used to pray he would be there when I

1008
00:52:40,120 --> 00:52:42,960
Speaker 12: handed the paper to them, because I loved speaking with

1009
00:52:43,000 --> 00:52:46,120
Speaker 12: that man. He was so well spoken, he loved education,

1010
00:52:46,760 --> 00:52:48,960
Speaker 12: and he was just a great man. When he came

1011
00:52:49,000 --> 00:52:51,600
Speaker 12: to school. I used to get excited. Can you imagine that,

1012
00:52:51,719 --> 00:52:54,319
Speaker 12: ladies and gentlemen. I used to get excited on the

1013
00:52:54,360 --> 00:52:57,359
Speaker 12: days mister Gardet would come and speak. I just love

1014
00:52:57,480 --> 00:53:00,560
Speaker 12: that man so much. He was a very tall man.

1015
00:53:00,960 --> 00:53:04,319
Speaker 12: He looked very prominent, and he knew all of us,

1016
00:53:04,800 --> 00:53:07,560
Speaker 12: it seemed, and we loved him being there. Then I'd

1017
00:53:07,600 --> 00:53:11,080
Speaker 12: head down at the corner of Paradise Avenue and Prospect Avenue.

1018
00:53:11,120 --> 00:53:14,359
Speaker 12: I believe Missus Smith's house how she was someone that

1019
00:53:14,400 --> 00:53:17,640
Speaker 12: my grandfather would monitor and make sure Missus Smith got

1020
00:53:17,640 --> 00:53:20,239
Speaker 12: her paper or if it was snowing, I had to

1021
00:53:20,239 --> 00:53:23,400
Speaker 12: shovel her stairways and walk on her porch before I

1022
00:53:23,440 --> 00:53:25,920
Speaker 12: went on to the next paper customer, and my grandfather

1023
00:53:26,080 --> 00:53:28,120
Speaker 12: would make sure I did that if I didn't, he

1024
00:53:28,200 --> 00:53:29,759
Speaker 12: would call her and I'd have to go back and

1025
00:53:29,800 --> 00:53:33,239
Speaker 12: do it. And then i'd head down Paradise Avenue mister Thorpe.

1026
00:53:33,640 --> 00:53:36,680
Speaker 12: Mister Thorpe would give me a silver dollar every year

1027
00:53:36,760 --> 00:53:39,759
Speaker 12: at Christmas. Can you imagine that someone would go to

1028
00:53:39,800 --> 00:53:42,359
Speaker 12: the trouble going down to the bank at the time,

1029
00:53:42,400 --> 00:53:44,640
Speaker 12: I guess, and getting a silver dollar for their paper

1030
00:53:44,640 --> 00:53:48,160
Speaker 12: boy every year. And there were the Handlands, the Dwyers,

1031
00:53:48,320 --> 00:53:52,120
Speaker 12: the Rooneys, they would all treat me so well. Had

1032
00:53:52,160 --> 00:53:55,040
Speaker 12: a family of lawyers. They were all guys, and they

1033
00:53:55,040 --> 00:53:57,160
Speaker 12: would get married off over the years. But there was

1034
00:53:57,200 --> 00:54:00,319
Speaker 12: a father, his son and his son's children, and at

1035
00:54:00,360 --> 00:54:04,440
Speaker 12: that house the Dwires, and they would always have something

1036
00:54:04,480 --> 00:54:07,000
Speaker 12: to say, something funny. And on that leg of the

1037
00:54:07,040 --> 00:54:10,040
Speaker 12: paper route, the last home was the publisher. I'd drop

1038
00:54:10,120 --> 00:54:13,440
Speaker 12: his paper off and up the hill i'd go. So

1039
00:54:13,560 --> 00:54:15,759
Speaker 12: you can imagine a blizzard or an ice storm, and

1040
00:54:15,880 --> 00:54:18,160
Speaker 12: this little eight and a half year old kid with

1041
00:54:18,239 --> 00:54:21,480
Speaker 12: about sixty pounds of newspapers on a swind by with

1042
00:54:21,560 --> 00:54:24,959
Speaker 12: balloon tires as winter said, and it would become dark

1043
00:54:25,000 --> 00:54:27,880
Speaker 12: around four o'clock four thirty, and I have to collect

1044
00:54:27,960 --> 00:54:30,440
Speaker 12: on Thursday nights. I was generally not home till seven.

1045
00:54:30,920 --> 00:54:33,360
Speaker 12: So I'm riding around the country with a thirty forty

1046
00:54:33,400 --> 00:54:36,359
Speaker 12: dollars and a bag of money in the dark. And

1047
00:54:36,440 --> 00:54:38,760
Speaker 12: we know that would never happen today, Ladies and gentlemen.

1048
00:54:39,200 --> 00:54:41,560
Speaker 12: That was the paper route. We had to add up

1049
00:54:41,560 --> 00:54:44,040
Speaker 12: the money, keep track of people paying, keep track of

1050
00:54:44,040 --> 00:54:46,439
Speaker 12: people who didn't pay. We had to get the papers there,

1051
00:54:46,480 --> 00:54:48,960
Speaker 12: We had to wait for the deliveries. We had to

1052
00:54:49,000 --> 00:54:51,680
Speaker 12: go down on Saturday morning, stand in line in an alley,

1053
00:54:51,719 --> 00:54:54,600
Speaker 12: turning the money, look up at the people. The guy

1054
00:54:54,600 --> 00:54:57,240
Speaker 12: that ran the change machine that circled all the money

1055
00:54:57,239 --> 00:55:00,000
Speaker 12: and was mean. The lady who sat in the office,

1056
00:55:00,000 --> 00:55:02,200
Speaker 12: this was a pretty nice lady. But if we didn't

1057
00:55:02,200 --> 00:55:04,719
Speaker 12: get a paper out there correctly, we heard about it.

1058
00:55:05,120 --> 00:55:08,319
Speaker 12: So it was very different. But we did it, and

1059
00:55:08,560 --> 00:55:10,200
Speaker 12: I learned a lot by doing it. I would never

1060
00:55:10,280 --> 00:55:13,560
Speaker 12: trade that experience. And we passed that paper route down

1061
00:55:13,600 --> 00:55:16,120
Speaker 12: through the family. When one fella gave it up, the

1062
00:55:16,160 --> 00:55:18,360
Speaker 12: next brother in line would take it. And when I

1063
00:55:18,440 --> 00:55:20,800
Speaker 12: was done with it, I sold it to a kidnamed

1064
00:55:20,840 --> 00:55:23,520
Speaker 12: Docerty and it was his turn for a while. And

1065
00:55:23,600 --> 00:55:26,160
Speaker 12: as the years went by, paper Roots became a thing

1066
00:55:26,200 --> 00:55:29,360
Speaker 12: of the past. But I can remember every customer on

1067
00:55:29,400 --> 00:55:32,279
Speaker 12: my paper root. I can remember every teacher I ever had.

1068
00:55:32,640 --> 00:55:35,480
Speaker 12: I admired my customers. They were great, and I loved

1069
00:55:35,520 --> 00:55:38,040
Speaker 12: my teachers and my school. I think it helped me

1070
00:55:38,480 --> 00:55:41,719
Speaker 12: in my life to really have a depth. They say

1071
00:55:41,840 --> 00:55:44,279
Speaker 12: life is measured in depth, not in length and fleeve me.

1072
00:55:44,320 --> 00:55:46,799
Speaker 12: If you had the memories I had about school and

1073
00:55:46,880 --> 00:55:49,680
Speaker 12: my paper route, you see that it is the depth

1074
00:55:49,719 --> 00:55:51,000
Speaker 12: that's important.

1075
00:55:53,000 --> 00:55:57,839
Speaker 3: Cool Kelly Financial Services eight hundred eighteen eighty one.

1076
00:55:58,560 --> 00:56:02,479
Speaker 4: I'm Kelly Kelly from Kelly Financial. Retirement is a time

1077
00:56:02,560 --> 00:56:05,320
Speaker 4: to enjoy the fruits of your labor, but is also

1078
00:56:05,400 --> 00:56:09,440
Speaker 4: a period when financial stability becomes more critical than ever,

1079
00:56:09,719 --> 00:56:14,840
Speaker 4: so seeking expert financial advice is essential, regardless of your age.

1080
00:56:15,040 --> 00:56:19,960
Speaker 4: Professional guidance insureds your assets are allocated wisely, helping your

1081
00:56:20,000 --> 00:56:23,160
Speaker 4: money last as long as you need it. The advisors

1082
00:56:23,160 --> 00:56:26,000
Speaker 4: at Kelly Financial will help you take charge of your

1083
00:56:26,040 --> 00:56:30,000
Speaker 4: financial future and preserve your hard earned wealth to enable

1084
00:56:30,080 --> 00:56:33,200
Speaker 4: you to focus on the retirement you've dreamed of. We

1085
00:56:33,320 --> 00:56:37,440
Speaker 4: have a free investor guide called designing your Fiscal House

1086
00:56:37,520 --> 00:56:40,960
Speaker 4: to Weather the Elements, which highlights the steps needed to

1087
00:56:41,040 --> 00:56:44,520
Speaker 4: build a balanced portfolio. For the guide and a free

1088
00:56:44,560 --> 00:56:48,279
Speaker 4: consultation with a Kelly Advisor, call eight eight eight eight

1089
00:56:48,360 --> 00:56:53,440
Speaker 4: hundred eighteen eighty one or email Kelly at Kellyfinancial dot org.

1090
00:56:53,760 --> 00:56:58,920
Speaker 4: We're Kelly Financial. Come retire with us safe money strategy