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Speaker 1: It is coming to us, So ladies and gentlemen welcome

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Speaker 1: to Safe Money Strategies on WRKO. I'm William Kelly and

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Speaker 1: it's an honor to carry on a family legacy rooted

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Speaker 1: in real world values and practical advice. Kelly Financial was

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Speaker 1: founded in two thousand and three by my parents, my

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Speaker 1: late father Bill Kelly and my mother Kelly Kelly and

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Speaker 1: Braintree and Burlington, Massachusetts. Just two years later, Dad launched

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Speaker 1: Safe Money Strategies on WRKO as a no nonsense call

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Speaker 1: in radio show focused on common sense planning and protecting wealth.

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Speaker 1: Over the past two decades, Dad became a pillar in

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Speaker 1: New England finance, an engineer, turn entrepreneur, author and philanthropist

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Speaker 1: who believed in giving back and walking the talk. Since

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Speaker 1: two and five, our show has remained a Saturday morning staple,

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Speaker 1: offering insight and empowerment. Here at Kelly Financial, we help

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Speaker 1: steward over seven hundred million dollars across our affiliated business,

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Speaker 1: including more than five hundred million dollars managed by our

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Speaker 1: sec registered investment advisory, where fiduciary care and our family

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Speaker 1: first philosophy guides us on safe money strategies. You'll hear

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Speaker 1: candid conversations with the team, my mother Kelly, myself, advisors

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Speaker 1: Charlie Gable, Mike Ducett, Greg Workman, Greg Murray, my sister

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Speaker 1: Mary Madeline, and Tom Schlager. We live by two rules,

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Speaker 1: never quit and carry on, and we're here to help

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Speaker 1: you do the same when it comes to your money.

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Speaker 1: Stick around, take notes and join the conversation. To learn

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Speaker 1: more or get our free guides or schedule consultation, visit

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Speaker 1: Kelly Financial dot org or call us at eighty eight

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Speaker 1: eight eight hundred one eight eight one.

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Speaker 2: This is Safe Money Strategies.

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Speaker 1: Next up Forever Young with Kelly Kelly and myself William

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Speaker 1: Kelly Junior.

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

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Speaker 3: hundred eighteen eighty one.

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

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

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

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

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

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

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

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Speaker 5: For the future.

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Speaker 4: Sometimes is light, sometimes is thoughtful, but it's always real.

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Speaker 5: Good morning William, Good morning Mom.

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Speaker 6: How are you.

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Speaker 5: I'm doing great? How about yourself?

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Speaker 2: Great? I'm about to have the college life pretty soon.

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Speaker 5: I can't believe it.

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Speaker 2: Man, it's been a long time.

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Speaker 5: Baby's going to school getting the.

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Speaker 1: Hack out of here. I'm free. You know what this means, folks.

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Speaker 1: I can party, I can go drink, i can skip

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Speaker 1: all my classes. And I'm going to join a rock band, mom,

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Speaker 1: and I'm going to and then I'm going to drop.

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Speaker 2: Out of college.

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Speaker 1: Oh now, no, actually no, I'm going to drop out

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Speaker 1: in a couple of semesters to make sure that we

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Speaker 1: throw some money in there and then it goes away.

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Speaker 5: Oh that would be bad.

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Speaker 2: It'd be great.

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Speaker 5: I would be a very happy month.

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Speaker 2: I know you would. That's why I want to do it.

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Speaker 1: And before we get ahead on all of that and

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Speaker 1: those great projects, it happens basically the start of the week.

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Speaker 1: We drive to Bryant and we unload and I live there.

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Speaker 2: Yeah.

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Speaker 1: So I appreciate all the help you've been. You've been

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Speaker 1: dropping dollars on your son and getting him loads, and

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Speaker 1: it's bad stuff. And I mean all this you know,

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Speaker 1: is just part of yours.

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Speaker 2: Yeah. Yeah, I'm lucky. I'm very lucky, and.

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Speaker 5: Well we have experienced. Has been a while since Mayor

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Speaker 5: Madeline was in college.

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Speaker 2: I wonder if you're going to cry.

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Speaker 5: I don't know. I can say when Mary.

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Speaker 4: Madeleine bawled your eyes out whenever right mouth started kindergarten.

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Speaker 5: Oh no, okay, so I'm going back to like kindergarten.

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Speaker 4: So when Mary Mallin started kindergarten, I boohooed. We walked

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Speaker 4: her to school, you know, And I mean, and your

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Speaker 4: dad was you know, he.

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Speaker 5: Was fine, but but anyway he was. He understood, but

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Speaker 5: I mean, he didn't cry.

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Speaker 2: I did.

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Speaker 4: But then then when you started kindergarten, I was like wooo,

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Speaker 4: because I knew from experience kindergarten is a good thing.

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Speaker 5: You learn a lot.

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Speaker 1: You learned to I was that bad of a kid.

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Speaker 1: You're happy to see me, go, will Yeah, that's my mom.

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Speaker 1: Thanks to me, ladies and gentlemen. This is going to

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Speaker 1: say the same thing. I'm going to leave the house.

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Speaker 1: She's gonna be like, finally peace and quiet, stopping in

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Speaker 1: the animals.

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Speaker 2: I can live here in peace, William.

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Speaker 4: But I knew it was a good thing, of course,

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Speaker 4: although I mean it was still it.

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Speaker 5: Was a little sad. Yeah. So college, I don't remember

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Speaker 5: if I cried, Oh I did.

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Speaker 4: Yeah, Oh, I kind of like I had walk past

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Speaker 4: her bedroom and start crying.

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Speaker 7: Yeah.

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Speaker 5: No, that was tough.

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Speaker 4: So with you, it's going to be a little sad.

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Speaker 4: I will I know it will probably will, yeah.

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Speaker 1: Because you know, we're used to living with each other

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Speaker 1: all the time. I know, I will say that this

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Speaker 1: is just like, it's just been extraordinary that I've been

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Speaker 1: able to have this much time with you.

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Speaker 2: A lot of kids don't have that.

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Speaker 1: A lot of kids go to high school and then

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Speaker 1: they go to college and then they won't spend any

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Speaker 1: time with their parents.

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Speaker 8: I know.

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Speaker 1: And you know, so blessed me too, because we got

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Speaker 1: to live together every single day. We got to work

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Speaker 1: together closely. Yes, you know, I got to work on

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Speaker 1: my book around you. You know what I mean.

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Speaker 2: You were there for every single step of the way.

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Speaker 1: And you know, I mean, besides the part where I

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Speaker 1: went out and traveled on my own a little bit

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Speaker 1: and saw some people, it was pretty much you and I,

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Speaker 1: you know, and very Madam would come home with.

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Speaker 2: Her little puppy. Yeah, you know, which is actually you know, I.

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Speaker 4: Think you and I have never been separated, even when

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Speaker 4: we were in the Dominican Republic, when you were in

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Speaker 4: fifth and sixth grade. You know, Dad would come back technically,

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Speaker 4: you know, a few weeks, but you and I were

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Speaker 4: constantly together.

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Speaker 2: Yeah, we were all.

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Speaker 5: You and I've never been separated.

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Speaker 4: So this is going to be bittersweet, but I will

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Speaker 4: say I'm so excited for you and I. This's been

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Speaker 4: a wonderful planning process that you and I have gone through.

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Speaker 2: It's been a very natural thing. This gap year was

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Speaker 2: just spectacular everything about.

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Speaker 4: I highly recommend gap years for maybe not for everyone,

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Speaker 4: but those of you who are listening right now, if

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Speaker 4: you have kids or grandkids who were you kind of

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Speaker 4: know in your heart who needs some time, you know,

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Speaker 4: to figure things out, And you did and I knew

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Speaker 4: it when you were a junior.

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Speaker 5: That's when we start talking about it.

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Speaker 4: But I say, don't be afraid to explore, you know,

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Speaker 4: the possibility of.

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Speaker 2: A gap year.

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Speaker 1: Yes, yeah, you don't have to do what I did,

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Speaker 1: you know what I mean, some folks just do it

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Speaker 1: and they just work the whole year, And honestly, that's fine.

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Speaker 2: It's really make the most out of it.

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Speaker 5: Yeah, it's like each person is very different.

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Speaker 1: When I graduated, the first thing I did was get

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Speaker 1: a job. I just knew I wanted to work, so

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Speaker 1: I worked at a Taylor rental And then after that,

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Speaker 1: you know, I.

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Speaker 2: Worked your butt off, Yes, I worked. You learn hard work,

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Speaker 2: all right, you learned a lot I did.

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Speaker 1: I have my first relationship ever, first girlfriend, first girlfriend.

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Speaker 2: And you know it was I learned a lot from

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Speaker 2: that relationship. It was great.

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Speaker 1: Yeah, and then it was time for us to move on.

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Speaker 1: We weren't for each other. And then I wrote that book,

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Speaker 1: and then I traveled, and then we went to business conferences.

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Speaker 1: I you know, I formed some relationships. I made a

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Speaker 1: great business partner, so great. In fact, we've made absolutely

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Speaker 1: no money together. And that's a separate this and my other.

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Speaker 4: I think you look up to this person. He's like

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Speaker 4: a mentor for me.

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Speaker 2: Of course I do.

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Speaker 8: Yeah.

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Speaker 1: No, he's like I call him. I don't call my uncle,

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Speaker 1: but like he's like an uncle. You know what I

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Speaker 1: mean to you, I call him my uncle. If I

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Speaker 1: ever want to weird him out, I'll call him my

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Speaker 1: uncle to him. But I think one of the biggest

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Speaker 1: things a very good friend of ours who used to

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Speaker 1: be a trustee at Bryant.

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Speaker 2: He you know, he's a.

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Speaker 1: Kind of a mutual and him and I got close

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Speaker 1: and he's a very successful real estate developer.

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Speaker 2: Actually he's in my book if you want to read

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Speaker 2: my book. He actually gave some great advice in the book.

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Speaker 1: Yeah, after I interviewed him, he really recommended Bryant.

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Speaker 2: And you know, I told him my original plan. I said,

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Speaker 2: you don't.

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Speaker 1: I want to take a gap year in a widow

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Speaker 1: community college for a year and a half and then

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Speaker 1: I want to transfer to a good school. And he said, honestly, William,

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Speaker 1: he said, where do you go to college is very important?

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Speaker 1: He said, check out Bryant. I was a trustee there.

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Speaker 1: It's a very serious, good business school. Just call them

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Speaker 1: up and see what happens. So I gave and then

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Speaker 1: I called my high school. They helped me get set

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Speaker 1: up and I just had a fantastic experience at wortsad Abbe.

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Speaker 1: I know, the college counseling was just they went above

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Speaker 1: and beyond for an alumnus too.

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Speaker 2: Of all, they told.

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Speaker 4: Us they would be there when the time came that,

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Speaker 4: you know, yes, and I appreciate that.

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Speaker 2: And you know what the.

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Speaker 5: Thing about you, William is when you graduated, and before.

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Speaker 4: You graduated, your mind you kept thinking community college like

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Speaker 4: CCR I or wherever would be a good business decision

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Speaker 4: because you would save X amount of money and then

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Speaker 4: you spend it, you know, for your final two years.

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Speaker 5: And that's what you were thinking about a business decision actually,

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Speaker 5: And now with.

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Speaker 4: Bryant, the cool thing about it all is with the scholarship.

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Speaker 2: That actually doesn't cost.

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Speaker 5: Kind of averages out.

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Speaker 2: To the same and I would have saved going like

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Speaker 2: a year exactly.

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Speaker 4: So that you're thinking about these things, and we explored

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Speaker 4: different avenues and you did not want to just go

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Speaker 4: with the traditional That's true.

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Speaker 2: And I already haven't.

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Speaker 1: And the truth is is that I originally approached it like,

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Speaker 1: you know, a bachelor.

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Speaker 2: Degree is important, but why would I.

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Speaker 1: Waste you know, I'm not saying it's a waste of money,

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Speaker 1: but why would I waste the first two years whenever

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Speaker 1: I can get education for free, you know what I'm saying.

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Speaker 1: And so I decided, you know, that was the path

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Speaker 1: we're going at that time, and then you know, Bryant

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Speaker 1: just kind of came up and I was like, you

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Speaker 1: know what.

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Speaker 2: I think.

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Speaker 1: I want to go to college, like college, like a

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Speaker 1: proper four year institution or more.

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Speaker 2: You know.

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Speaker 1: So that's like probably one of the best decisions besides

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Speaker 1: making this book that I made this year. But we'll see,

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Speaker 1: you know, the semester hasn't started yet, so yeah, figure

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Speaker 1: it out. I'll see you guys later. It was nice

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Speaker 1: seeing you. I'm off to college. Is forever young dun?

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Speaker 9: Mom?

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Speaker 2: Is it over?

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Speaker 4: Of course not.

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Speaker 2: It's not what I thought I was getting out.

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Speaker 4: We may well no, no, no, no, no.

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Speaker 2: This is indentured servitude. I got a wall.

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Speaker 4: Well, you know what, It'll give me a reason to

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Speaker 4: see you once a week, that's true. At least once

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Speaker 4: a week, that is true. So I'm looking forward to

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Speaker 4: that me too.

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Speaker 1: So unfortunately, ladies and gentlemen, Kelly Financial, the old Ball

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Speaker 1: and Chaine, I.

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Speaker 2: Got to come back and do this every single week,

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Speaker 2: my gosh. So you'll still be hearing from me of course,

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Speaker 2: and mom of course. So yeah.

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Speaker 1: Anyways, thank you for everybody who's been so helpful this

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Speaker 1: gap here.

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Speaker 2: I really owe a lot of you, just so much,

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Speaker 2: so much. Thanks. Honestly, that's the least I can do.

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Speaker 1: I want to thank everybody for supporting me so much

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Speaker 1: before and after the publication of the book.

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Speaker 2: We haven't shared this yet, but hundreds of people have

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Speaker 2: bought my book on Amazon, and it's just like I

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Speaker 2: it blew me away to see that.

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Speaker 1: And furthermore, the hundreds of people who have called for my.

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Speaker 2: Book, Oh my gosh, and clients alike.

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Speaker 5: We have burned through the books.

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Speaker 2: We kind of have.

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Speaker 5: I mean, like we have to restop pretty soon.

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Speaker 2: That's incredible. I know, jeez, we ordered a lot, yes,

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Speaker 2: we did, so I guess people must be enjoying it.

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Speaker 2: I really appreciate this support.

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Speaker 5: A lot of them have ordered your book on Amazon.

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Speaker 2: That's right. I can't believe that. I just can't believe that.

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Speaker 1: So but just beside the book too, I just want

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Speaker 1: to thank everybody for just all the support they've given

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Speaker 1: me and for someone who is trying to.

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Speaker 2: Figure it out this year.

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Speaker 1: Now that this my gap year has basically come to

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Speaker 1: an end, it's a little emotional, honestly, but I'm just

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Speaker 1: so proud of everyone just for helping me and making

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Speaker 1: all these dreams and goals possible throughout this year. I mean,

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Speaker 1: I just never expected this to go so unbelievably far,

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Speaker 1: and it really did so it's exciting.

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Speaker 5: I'm so proud of you.

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Speaker 7: William.

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Speaker 2: Thank you, and thank you guys, most good luck. Thank you.

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Speaker 4: I think, oh, I know you'll be fine. One day

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Speaker 4: at a time, that's true. Yeah, and one Saturday at

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Speaker 4: a time, that's right. Do keep us on your dial.

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Speaker 4: We've got a lot of great content coming your way.

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Speaker 4: Mike d Said and Greg Workman will break down why

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Speaker 4: a clear written plan, not just investments, is the foundation

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Speaker 4: for confidence at every stage of retirement. Mary Madeline Kelly

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Speaker 4: and Greg Murray will walk through what actually changed for

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Speaker 4: retirement and tax planning in twenty twenty six and why

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Speaker 4: January is the right time to pay attention. When William

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Speaker 4: and I come back, we'll talk about what early retirement

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Speaker 4: really looks like today, and of course we'll close the

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Speaker 4: hour with some and wisdom from the late Bill Kelly.

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Speaker 4: His words continue to inspire and guide us. That's a

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Speaker 4: wrap for forever, young Thank you for listening, and William,

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Speaker 4: thank you for joining me.

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

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

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Speaker 10: And if you're looking for the perfect gift for a

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Speaker 10: young person in your life.

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Speaker 2: I've got it. It's a brand new book written.

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Speaker 10: By William Kelly Junior from Kelly Financial Services, and it's

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Speaker 10: called Only the Good invest Young.

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Speaker 2: This book is powerful.

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Speaker 10: It gives teenagers called students young adults the roadmap they

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Speaker 10: need to start saving, planning and investing the right way.

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Speaker 10: And I'll tell you even people my age, yes and

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Speaker 10: I'm fifty six, are reading it. William actually quotes me

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Speaker 10: the Coooner Man in the book.

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Speaker 2: I'm in the book.

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Speaker 10: So you can grab your coffee right now on Amazon.

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Speaker 10: Just search Only the Good invest Young, and if you're

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Speaker 10: part of Cooner Country you can get a copy absolutely free.

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Speaker 10: Just tell them the coooner Man sent you and call

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Speaker 10: eight eight eight eight hundred We're in eighteen eighty one,

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Speaker 10: or email Kelly at Kellyfinancial dot org.

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Speaker 2: Only the Good invest You get it today. Welcome back

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Speaker 2: to Safe Money Strategies.

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Speaker 6: I'm Mike Ducett, chief operating officer here at Kelly Financial and.

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Speaker 9: I'm Greg Workman, investment advisor on staff here at Kelly

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Speaker 9: Financial Services.

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Speaker 7: Thank you for spending part of your weekend with us.

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Speaker 6: Each week on the show, we walk through the Safe

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Speaker 6: Money Strategies process. A Claire structured approach to retirement planning

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Speaker 6: that's designed to help reduce stress, eliminate guestwork, and bring

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Speaker 6: clarity to your financial decisions. Today, we're focusing on step

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Speaker 6: two of that process, the investment review. But before we

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Speaker 6: do that, greg, it's important that we briefly recap step

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Speaker 6: one because everything builds off that foundation absolutely.

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Speaker 9: Step one is where we design a written, tailored financial plan.

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Speaker 9: This is an engineric report or a one size fits

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Speaker 9: all checklist. It's a personalized plan built around your goals,

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Speaker 9: income needs, taxes, risk tolerance, and retirement timeline.

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Speaker 6: And it's important to emphasize that step one is complementary.

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Speaker 2: There's no cost and no obligation. Our philosophy is simple.

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Speaker 6: If you're making major financial decisions, you should have a

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Speaker 6: written plan guiding those decisions exactly.

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Speaker 9: The plan becomes your roadmap. It answers important questions like

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Speaker 9: when can I retire, how much income can I safely take,

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Speaker 9: where will that income come from, how do taxes factor

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Speaker 9: in along the way, and how much risk do I

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Speaker 9: really need to take with my investments?

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Speaker 6: And while step one is highly recommended, it's not a requirement.

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Speaker 6: Some people come to us failing anxious about their investments

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Speaker 6: right now. Maybe they've experienced more volatility than expected, or

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Speaker 6: they simply haven't reviewed their allocation in years.

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Speaker 7: That's right.

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Speaker 9: Prospective clients can jump ahead to step two, the investment review,

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Speaker 9: especially if they're uneasy about how their money is currently invested.

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Speaker 9: We don't want anxiety to be a barrier to getting help.

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Speaker 6: That said, we always explain that investments work best when

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Speaker 6: they're aligned with a broader plan. Otherwise you're just reacting

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Speaker 6: to markets instead of making intentional decisions.

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Speaker 9: Well said, Step two is most powerful when it's connected

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Speaker 9: to step one.

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Speaker 7: But we meet people where they are.

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Speaker 6: So let's talk about step two. What exactly happens during

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Speaker 6: an investment review.

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Speaker 9: At its core, step two is about understanding what you

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Speaker 9: own and why you own it. Many investors have portfolios

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Speaker 9: that were built over the course of many years, different accounts,

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Speaker 9: different advisors, maybe some old employer sponsored plans like four

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Speaker 9: to one case, and no one has ever stepped back

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Speaker 9: to evaluate the whole picture from a holistic point of view.

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Speaker 2: We see that all the time.

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Speaker 6: Someone might say I think I'm diversified, but when we

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Speaker 6: analyze it, they're heavily concentrated in a single acid class

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Speaker 6: or exposed to.

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Speaker 2: File more risk than they realize exactly.

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Speaker 9: Our review looks at asset allocation, risk exposure, overlap between

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Speaker 9: or amongst different types of investments, fees and internal expenses,

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Speaker 9: tax efficiency, and how the allocation aligns with your goals

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Speaker 9: and your time horizon.

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Speaker 2: And timing matters.

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Speaker 6: We've entered in new year, which makes this a natural

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Speaker 6: checkpoint investors should be asking themselves, is my allocation still

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Speaker 6: positioned appropriately for where I am today, not five or

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Speaker 6: ten years ago?

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Speaker 9: Life changes, markets change, tax worlds change, but portfolios often

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Speaker 9: don't unless somewhat is intentionally reviewing them.

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Speaker 6: This is also a great opportunity to talk about something

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Speaker 6: we think is incredibly important, how to choose the right

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Speaker 6: firm to perform an investment analysis.

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Speaker 9: First and foremost, ask whether the firm is a fiduciary.

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Speaker 9: At Kelly Financial Services, we are an independent registered investment advisor,

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Speaker 9: which means we are legally required to act in our clients'

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Speaker 9: best interests.

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Speaker 6: That's a critical distinction. Not all advisors are held to

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Speaker 6: that standard.

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Speaker 9: Second, understand how the firm is compensated. Kelly Financial is

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Speaker 9: a fee based investment advisor. What does that mean? We

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Speaker 9: do not receive commissions for investment recommendations. Rather, our fee

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Speaker 9: is a flat percentage for managing assets and it is

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Speaker 9: deducted in arrears directly from investment accounts, so.

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Speaker 6: There's no incentive to recommend one investment over another based

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Speaker 6: on compensation.

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Speaker 9: Exactly. Our focuses on proper allocation, risk management, and long

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Speaker 9: term strategy, not product sales.

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Speaker 2: Let's bring this to life with a quick example.

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Speaker 9: We recently met with a couple we'll call them John

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Speaker 9: and Lisa. They were both in their early sixties and

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Speaker 9: planning to retire within the next few years. They felt

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Speaker 9: uneasy about the market, but assumed their portfolio was probably

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Speaker 9: fine because it had done well in the past.

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Speaker 6: When we ran the investment analysis, we found their allocation

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Speaker 6: was still structured like they we're in their forties, heavily

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Speaker 6: tilted toward growth with significant volatility risk.

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Speaker 7: The important part, there was no pressure. We walked them

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Speaker 7: through the.

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Speaker 9: Analysis and explained what was working well and identified areas

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Speaker 9: that could be improved.

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Speaker 6: And the key is there is no pressure or obligation

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Speaker 6: to move forward.

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Speaker 9: If things are positioned well. We will tell you that

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Speaker 9: not every analysis leads to a recommendation for a change.

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Speaker 6: Our goal is clarity, peace of mind, knowing where you

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Speaker 6: stand and.

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Speaker 9: If adjustments are needed, then you can decide with good

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Speaker 9: information whether or not to take the next step.

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Speaker 6: When we come back, we'll talk about what actually makes

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Speaker 6: a well positioned investment, allocation and retirement, common mistakes we

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Speaker 6: see during reviews, in how step two fits into the

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Speaker 6: broader safe money Strategies process. You're listening to Safe Money Strategies,

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Speaker 6: We'll be right back.

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

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

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

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

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00:21:09,960 --> 00:21:13,480
Speaker 4: Plan Your Future explains what a fiduciary is and will

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

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Speaker 5: For the book, call eight eight eight.

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Speaker 4: Eight hundred eighteen eighty one or email Kelly at Kellyfinancial

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Speaker 4: dot org.

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

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Speaker 11: I'm John Boudris, and welcome to a new edition of

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Speaker 11: Kelly Financial's What would Bill Say? The wit and wisdom

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Speaker 11: of the late Bill Kelly, who today tests time time.

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Speaker 8: You don't have as much left today as you had yesterday.

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Speaker 8: It's the rule of science. When's the best time to

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Speaker 8: plant a tree twenty years ago? When's the second best

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00:21:48,760 --> 00:21:52,360
Speaker 8: time to plant a tree? Tomorrow? Today? Whenever you can

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Speaker 8: get to it, that's the next best time.

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Speaker 11: There's no time like the present to begin saving, planning,

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Speaker 11: and enjoying retirement. Download our consumer guide simply called a

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Speaker 11: Happy Retirement and find six secrets of how you can

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00:22:07,480 --> 00:22:12,159
Speaker 11: spend your time to cultivate happiness and a retirement well lived.

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Speaker 11: Go to Kellyfinancial dot org or call eight eight eight

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Speaker 11: eight hundred eighteen eighty one to spend some time with

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Speaker 11: one of our financial advisors.

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Speaker 8: Time, ladies and gentlemen, it's not too late.

449
00:22:23,160 --> 00:22:28,840
Speaker 11: We are Kelly Financial. Come retire with us The Money

450
00:22:28,880 --> 00:22:33,800
Speaker 11: Wrap with Kelly Financial Advisors Greg Murray and Mary Madeline Kelly.

451
00:22:35,119 --> 00:22:38,280
Speaker 12: Hello, this is Greg Murray, Senior Vice president and Chief

452
00:22:38,359 --> 00:22:41,879
Speaker 12: Compliance Officer at Kelly Financial Services. Joining me today is

453
00:22:42,000 --> 00:22:44,320
Speaker 12: Mary Madeline Kelly, one of our wealth advisors. How are

454
00:22:44,359 --> 00:22:45,000
Speaker 12: you doing today?

455
00:22:45,080 --> 00:22:48,879
Speaker 13: Happy New Year, Greg. I am doing great and I

456
00:22:48,920 --> 00:22:51,320
Speaker 13: think this is the perfect show for the start of

457
00:22:51,320 --> 00:22:55,000
Speaker 13: twenty twenty six because a lot of people assume January

458
00:22:55,160 --> 00:22:57,840
Speaker 13: is just about setting goals, but it's also when some

459
00:22:57,960 --> 00:23:02,040
Speaker 13: important retirement and tax updates officially take effect exactly.

460
00:23:02,119 --> 00:23:04,479
Speaker 12: And today we want to walk through the actual changes

461
00:23:04,480 --> 00:23:06,919
Speaker 12: that went into effect this year so listeners know what

462
00:23:06,960 --> 00:23:09,080
Speaker 12: the pay attention to and what may affect their planning

463
00:23:09,080 --> 00:23:10,040
Speaker 12: in twenty twenty six.

464
00:23:10,240 --> 00:23:13,320
Speaker 13: Let's start with retirement savings, because that's where most people

465
00:23:13,320 --> 00:23:17,200
Speaker 13: see changes first. For twenty twenty six, the IRS increased

466
00:23:17,200 --> 00:23:21,040
Speaker 13: contribution limits again for workplace retirement plans like four oh

467
00:23:21,040 --> 00:23:24,800
Speaker 13: one KS, four or three b's and four fifty seven plans,

468
00:23:24,880 --> 00:23:26,160
Speaker 13: as well as for iras.

469
00:23:26,400 --> 00:23:28,800
Speaker 12: That means workers have the opportunity to save more this

470
00:23:28,880 --> 00:23:31,399
Speaker 12: year than they could save last year, but only if

471
00:23:31,440 --> 00:23:34,919
Speaker 12: they adjust their contributions. If you don't update your payroll elections,

472
00:23:34,960 --> 00:23:37,720
Speaker 12: you may never take advantage of those higher limits exactly.

473
00:23:38,040 --> 00:23:40,800
Speaker 13: And this is especially important for people over the age

474
00:23:40,840 --> 00:23:45,280
Speaker 13: fifty because catch up contributions also increased. Plus for twenty

475
00:23:45,280 --> 00:23:49,000
Speaker 13: twenty six, we now officially have the expanded Super Catchup

476
00:23:49,119 --> 00:23:53,040
Speaker 13: available for workers ages sixty to sixty three, allowing them

477
00:23:53,080 --> 00:23:55,480
Speaker 13: to save even more during those final working years.

478
00:23:55,600 --> 00:23:56,479
Speaker 2: That's a big change.

479
00:23:56,560 --> 00:23:58,880
Speaker 12: It gives people who are close to retirement a meaningful

480
00:23:58,920 --> 00:24:02,080
Speaker 12: opportunity to boost savings, especially if they're earning more later

481
00:24:02,119 --> 00:24:04,119
Speaker 12: in their careers or have fewer expenses.

482
00:24:04,359 --> 00:24:07,480
Speaker 13: Another important update tied to the Secure Act two point

483
00:24:07,600 --> 00:24:11,080
Speaker 13: zero is that catch up contributions for higher income earners

484
00:24:11,320 --> 00:24:13,960
Speaker 13: are now required to be made on a WROW basis

485
00:24:14,119 --> 00:24:14,720
Speaker 13: rather than.

486
00:24:14,640 --> 00:24:17,840
Speaker 12: Pre tax, which means those contributions are taxed now but

487
00:24:18,040 --> 00:24:20,520
Speaker 12: can potentially be with drawn tax free later. That's a

488
00:24:20,520 --> 00:24:23,040
Speaker 12: big shift in how people think about retirement savings and

489
00:24:23,080 --> 00:24:24,120
Speaker 12: tax planning.

490
00:24:23,960 --> 00:24:27,760
Speaker 13: And it reinforces why having both pre tax and WROTH.

491
00:24:27,520 --> 00:24:29,720
Speaker 2: Savings can be so valuable. It gives you.

492
00:24:29,680 --> 00:24:33,200
Speaker 13: Flexibility in retirement when deciding where income should come from.

493
00:24:33,400 --> 00:24:35,960
Speaker 12: Let's shift the taxes for a moment. For twenty twenty six,

494
00:24:36,040 --> 00:24:39,760
Speaker 12: the IRS also made routine inflation adjustments things like tax brackets,

495
00:24:39,760 --> 00:24:42,040
Speaker 12: the standard deduction, and income thresholds.

496
00:24:42,200 --> 00:24:45,800
Speaker 13: Yes, and even when tax rates don't change, those adjustments

497
00:24:45,840 --> 00:24:47,240
Speaker 13: can still affect how much.

498
00:24:47,119 --> 00:24:47,800
Speaker 2: Tax you pay.

499
00:24:48,080 --> 00:24:51,639
Speaker 13: A raise, a bonus, or require distributions can move you

500
00:24:51,760 --> 00:24:54,359
Speaker 13: into a different bracket without you realizing it.

501
00:24:54,480 --> 00:24:56,760
Speaker 12: That's why January is such a good time to look ahead,

502
00:24:56,880 --> 00:24:59,120
Speaker 12: not just at what you owed last year, but at

503
00:24:59,160 --> 00:25:01,919
Speaker 12: what your income might be this year exactly, and.

504
00:25:02,119 --> 00:25:05,119
Speaker 13: This is especially true for retirees who are taking r

505
00:25:05,160 --> 00:25:08,880
Speaker 13: and ds, collecting Social Security, or doing WROTH conversions.

506
00:25:09,160 --> 00:25:10,520
Speaker 2: Small adjustments early in the.

507
00:25:10,560 --> 00:25:14,080
Speaker 13: Year can help smooth out taxes instead of creating surprises later.

508
00:25:14,280 --> 00:25:17,800
Speaker 12: Another update worth mentioning is that required minimum distribution rules

509
00:25:17,800 --> 00:25:21,000
Speaker 12: themselves didn't change for twenty twenty six, but planning around

510
00:25:21,040 --> 00:25:24,560
Speaker 12: them remains critical, especially with higher account balances and higher

511
00:25:24,560 --> 00:25:25,440
Speaker 12: income thresholds.

512
00:25:25,560 --> 00:25:27,720
Speaker 13: R and ds still begin at age seventy three for

513
00:25:27,800 --> 00:25:30,760
Speaker 13: most people, and they continue to be a taxable income.

514
00:25:31,080 --> 00:25:35,000
Speaker 13: How you coordinate those distributions with other income sources really matters.

515
00:25:35,240 --> 00:25:37,360
Speaker 12: So when we step back and look at twenty twenty six,

516
00:25:37,440 --> 00:25:41,040
Speaker 12: the theme is opportunity, but only if people are proactive exactly.

517
00:25:41,280 --> 00:25:43,919
Speaker 13: So here's a quick recap of what actually changed for

518
00:25:43,960 --> 00:25:48,880
Speaker 13: twenty twenty six. Higher retirement contribution limits, larger catchup opportunities

519
00:25:48,920 --> 00:25:52,679
Speaker 13: including ages sixty to sixty three, WROTH only catch up

520
00:25:52,760 --> 00:25:58,160
Speaker 13: contributions for certain higher earners, inflation adjusted tax brackets and deductions,

521
00:25:58,520 --> 00:26:02,440
Speaker 13: and continued importance of early year tax and retirement planning.

522
00:26:02,560 --> 00:26:05,120
Speaker 12: Perfect summary, and as always, we want to remind listeners

523
00:26:05,200 --> 00:26:08,560
Speaker 12: that investing involves risk, including the potential loss of principle

524
00:26:08,720 --> 00:26:11,480
Speaker 12: and tax strategy should always be evaluated based on your

525
00:26:11,480 --> 00:26:14,119
Speaker 12: individual situation with a tax professional.

526
00:26:14,280 --> 00:26:17,800
Speaker 13: Yes, these rules create opportunities, but how you use them

527
00:26:17,840 --> 00:26:19,879
Speaker 13: should always be personalized, and that's.

528
00:26:19,760 --> 00:26:21,360
Speaker 2: Where we can help. At Kelly Financial.

529
00:26:21,480 --> 00:26:23,879
Speaker 12: We work with clients to make sure they understand what changed,

530
00:26:23,960 --> 00:26:26,199
Speaker 12: what applies to them, and how to take advantage of

531
00:26:26,240 --> 00:26:28,440
Speaker 12: new rules in a smart, coordinated.

532
00:26:27,840 --> 00:26:31,000
Speaker 13: Way, because staying informed is important, but having a plan

533
00:26:31,119 --> 00:26:33,480
Speaker 13: is what really makes the difference. Well said, Well, that's

534
00:26:33,520 --> 00:26:35,879
Speaker 13: going to wrap things up for today. If you have

535
00:26:36,040 --> 00:26:39,359
Speaker 13: any questions about the retirement or tax updates for twenty

536
00:26:39,400 --> 00:26:41,879
Speaker 13: twenty six, give us a call. We'd be happy to

537
00:26:41,880 --> 00:26:44,879
Speaker 13: review your situation. And Greg, thanks for your time and

538
00:26:44,880 --> 00:26:45,720
Speaker 13: I'll see you next week.

539
00:26:45,760 --> 00:26:46,520
Speaker 2: I have a great weekend.

540
00:26:46,760 --> 00:26:49,680
Speaker 3: To get in touch with Greg Murray or Mary Madeline

541
00:26:49,720 --> 00:26:53,320
Speaker 3: Kelly or any member of the Kelly Financial team called

542
00:26:53,440 --> 00:26:55,600
Speaker 3: a eight eight hundred.

543
00:26:55,520 --> 00:26:57,160
Speaker 2: Eighteen eighty one.

544
00:27:00,160 --> 00:27:04,680
Speaker 3: Safe Money Strategies with William Kelly and Kelly Kelly. Call

545
00:27:04,760 --> 00:27:08,960
Speaker 3: the team on eight eight hundred eighteen eighty one.

546
00:27:09,560 --> 00:27:16,320
Speaker 4: Than character, good morning and welcome back to Safe Money Strategies.

547
00:27:16,800 --> 00:27:21,600
Speaker 4: I'm Kelly Kelly and I'm joined again this morning by

548
00:27:21,720 --> 00:27:24,280
Speaker 4: my son William Kelly Junior.

549
00:27:24,800 --> 00:27:27,919
Speaker 5: And today we're talking about something we're hearing more and

550
00:27:27,960 --> 00:27:32,920
Speaker 5: more from people in their fifties and early sixties, this

551
00:27:33,240 --> 00:27:38,120
Speaker 5: idea of retiring earlier than they had originally planned.

552
00:27:38,640 --> 00:27:40,119
Speaker 2: It's important to say right at the start.

553
00:27:40,160 --> 00:27:43,600
Speaker 1: When people hear the phrase early retirement, they sometimes picture

554
00:27:43,680 --> 00:27:45,960
Speaker 1: someone simply walking away from work because they.

555
00:27:45,840 --> 00:27:48,280
Speaker 2: Don't want to work anymore. That's not really what we

556
00:27:48,320 --> 00:27:48,960
Speaker 2: see most.

557
00:27:48,800 --> 00:27:50,280
Speaker 5: Of the time, exactly.

558
00:27:50,440 --> 00:27:53,679
Speaker 4: Most of the people we talked to didn't wake up

559
00:27:53,720 --> 00:27:58,040
Speaker 4: one morning and say I'm done forever. What they usually

560
00:27:58,119 --> 00:28:04,000
Speaker 4: say is something like I'm exhausted, or something needs to change,

561
00:28:04,160 --> 00:28:06,720
Speaker 4: or I don't want the next ten years to look

562
00:28:06,800 --> 00:28:08,320
Speaker 4: like the last ten years.

563
00:28:09,000 --> 00:28:11,359
Speaker 1: And often it isn't just work. It's work combined with

564
00:28:11,400 --> 00:28:14,600
Speaker 1: aging parents, adult children, and becoming more aware of your

565
00:28:14,600 --> 00:28:16,879
Speaker 1: own health all happening at the same time.

566
00:28:17,480 --> 00:28:20,560
Speaker 4: That's such an important part. This stage of life can

567
00:28:20,640 --> 00:28:25,479
Speaker 4: feel very heavy. Many people are at peak responsibility at work,

568
00:28:25,960 --> 00:28:30,280
Speaker 4: they're helping parents or family members. They're also starting to

569
00:28:30,359 --> 00:28:34,720
Speaker 4: think differently about their own health and energy. Time starts

570
00:28:34,720 --> 00:28:37,600
Speaker 4: to feel more valuable than it ever has.

571
00:28:37,440 --> 00:28:41,040
Speaker 1: Before, and the data reflects that We're seeing more Americans

572
00:28:41,040 --> 00:28:43,640
Speaker 1: in their late fifties and early sixties step away from

573
00:28:43,680 --> 00:28:47,200
Speaker 1: full time work earlier than expected, not because they lack motivation,

574
00:28:47,520 --> 00:28:51,440
Speaker 1: but because they're prioritizing flexibility, health, and quality of life.

575
00:28:51,640 --> 00:28:55,720
Speaker 4: Early retirement, for many people begins as a quality of

576
00:28:55,800 --> 00:29:00,440
Speaker 4: life decision, not a financial one. It's about protect your

577
00:29:00,560 --> 00:29:04,479
Speaker 4: time and your health, but not giving up on life

578
00:29:04,720 --> 00:29:05,400
Speaker 4: or purpose.

579
00:29:06,240 --> 00:29:09,720
Speaker 1: Once someone starts thinking seriously about retiring earlier, they often

580
00:29:09,720 --> 00:29:12,720
Speaker 1: realize quickly that retirement today looks very different than it

581
00:29:12,760 --> 00:29:14,400
Speaker 1: did for prior generations.

582
00:29:14,680 --> 00:29:19,320
Speaker 4: It really does. One of the biggest differences is longevity.

583
00:29:19,760 --> 00:29:23,880
Speaker 4: Many people retiring in their late fifties or early sixties

584
00:29:24,000 --> 00:29:27,760
Speaker 4: may be looking at a retirement that lasts thirty or

585
00:29:27,920 --> 00:29:29,720
Speaker 4: even forty years.

586
00:29:30,040 --> 00:29:32,800
Speaker 2: That changes the math, but it also changes the mindset.

587
00:29:33,320 --> 00:29:37,600
Speaker 4: A longer retirement isn't a problem. It simply requires a

588
00:29:37,600 --> 00:29:41,120
Speaker 4: different way of thinking. You're no longer planning toward a

589
00:29:41,160 --> 00:29:46,240
Speaker 4: finish line. You're planning for sustainability over decades.

590
00:29:46,360 --> 00:29:48,720
Speaker 1: And early retirees tend to be more active in those

591
00:29:48,760 --> 00:29:51,520
Speaker 1: first years. They travel more, they spend more, and they

592
00:29:51,520 --> 00:29:53,959
Speaker 1: stay busy. That can be a positive thing, but it

593
00:29:53,960 --> 00:29:55,560
Speaker 1: also means pacing matters.

594
00:29:56,040 --> 00:30:00,680
Speaker 4: That's why success in early retirement isn't really about timing,

595
00:30:01,200 --> 00:30:04,880
Speaker 4: It's about how you approach it. People who do well

596
00:30:04,920 --> 00:30:09,080
Speaker 4: tend not to rush into permanent decisions. They think in

597
00:30:09,240 --> 00:30:11,320
Speaker 4: phases instead.

598
00:30:11,360 --> 00:30:15,200
Speaker 1: Almost like chapters, rather than one final conclusion exactly.

599
00:30:15,360 --> 00:30:18,120
Speaker 4: And one of the first places people really feel that

600
00:30:18,280 --> 00:30:22,719
Speaker 4: difference and sometimes feel caught off guard is healthcare.

601
00:30:23,440 --> 00:30:25,680
Speaker 2: This is a major reality for early retirees.

602
00:30:26,120 --> 00:30:28,600
Speaker 1: Many people assume they'll simply figure it out as they go,

603
00:30:28,760 --> 00:30:32,400
Speaker 1: but retiring before age sixty five introduces an important variable.

604
00:30:32,800 --> 00:30:37,880
Speaker 4: Because Medicare doesn't begin until age sixty five, and employer

605
00:30:37,960 --> 00:30:42,680
Speaker 4: provided retire health benefits are far less common than they

606
00:30:42,720 --> 00:30:43,400
Speaker 4: once were.

607
00:30:44,360 --> 00:30:47,000
Speaker 1: That makes healthcare one of the largest unknowns, not just

608
00:30:47,040 --> 00:30:48,800
Speaker 1: in terms of cost but complexity.

609
00:30:49,280 --> 00:30:52,520
Speaker 4: What we see is that it isn't fear that creates stress,

610
00:30:52,680 --> 00:30:57,240
Speaker 4: it's uncertainty. Health Care is often the biggest surprise for

611
00:30:57,360 --> 00:31:01,440
Speaker 4: early retiree simply because it's something they have not had

612
00:31:01,480 --> 00:31:03,320
Speaker 4: to manage directly before.

613
00:31:04,080 --> 00:31:06,600
Speaker 1: The people who navigate this well aren't the ones to panic.

614
00:31:06,960 --> 00:31:08,440
Speaker 1: They're ones who become informed.

615
00:31:09,000 --> 00:31:14,400
Speaker 4: Awareness changes everything. Once people understand the healthcare realities of

616
00:31:14,480 --> 00:31:19,160
Speaker 4: retiring early, they're able to make clear, calmer decisions about

617
00:31:19,240 --> 00:31:20,840
Speaker 4: timing and lifestyle.

618
00:31:21,400 --> 00:31:24,560
Speaker 1: That mindset carries into other areas of retirement planning. The

619
00:31:24,600 --> 00:31:28,040
Speaker 1: most successful early retirees don't rush, They observe, adjust and

620
00:31:28,040 --> 00:31:28,880
Speaker 1: stay flexible.

621
00:31:29,480 --> 00:31:35,200
Speaker 4: They also stay engaged mentally, socially, and often professionally in

622
00:31:35,200 --> 00:31:40,640
Speaker 4: some capacity. Early retirement doesn't mean disengaging from life.

623
00:31:41,000 --> 00:31:42,720
Speaker 2: That flexibility helps reduce fear.

624
00:31:43,120 --> 00:31:46,600
Speaker 4: It does when you look at research and studies. Most

625
00:31:46,680 --> 00:31:50,840
Speaker 4: retirees are not primarily worried about day to day spending.

626
00:31:51,200 --> 00:31:54,320
Speaker 4: They're worried about outliving their savings.

627
00:31:54,200 --> 00:31:56,600
Speaker 2: And that's where clarity can replace anxiety.

628
00:31:56,920 --> 00:32:03,280
Speaker 4: When people focus on what they can control, lifestyle choices, expectations,

629
00:32:03,320 --> 00:32:08,840
Speaker 4: and flexibility, they feel more grounded. They stop asking overwhelming

630
00:32:08,960 --> 00:32:11,960
Speaker 4: questions and start asking clearer ones.

631
00:32:12,200 --> 00:32:15,280
Speaker 1: Questions like what expenses truly support my quality of life?

632
00:32:15,400 --> 00:32:17,280
Speaker 2: What costs are flexible and which you're not?

633
00:32:18,000 --> 00:32:21,560
Speaker 1: What decisions can I delay instead of locking in immediately exactly.

634
00:32:21,720 --> 00:32:25,360
Speaker 4: One of the most helpful shifts we see is separating

635
00:32:25,520 --> 00:32:29,200
Speaker 4: needs from wants, not in a judgmental way, but in

636
00:32:29,240 --> 00:32:30,560
Speaker 4: a clarifying way.

637
00:32:30,920 --> 00:32:33,680
Speaker 1: Because trade offs aren't good or bad, there's simply choices.

638
00:32:33,960 --> 00:32:39,920
Speaker 4: Confidence grows when decisions feel intentional rather than reactive. For

639
00:32:40,040 --> 00:32:44,560
Speaker 4: people in their fifties and early sixties, early retirement often

640
00:32:44,640 --> 00:32:48,520
Speaker 4: begins as a lifestyle question, but it quickly leads to

641
00:32:48,720 --> 00:32:54,400
Speaker 4: larger conversations about income, longevity, health care, and timing.

642
00:32:54,960 --> 00:32:57,280
Speaker 2: And that's where perspective becomes important.

643
00:32:57,800 --> 00:33:03,080
Speaker 4: At Kela Financial, our advisors focus on helping people step back,

644
00:33:03,720 --> 00:33:07,600
Speaker 4: look at the full picture, and better understand their options

645
00:33:07,680 --> 00:33:10,120
Speaker 4: before making long term decisions.

646
00:33:10,600 --> 00:33:12,880
Speaker 1: Not to make decisions for people, but to help them

647
00:33:12,960 --> 00:33:14,360
Speaker 1: understand the trade offs involved.

648
00:33:14,680 --> 00:33:15,280
Speaker 5: I wrote my.

649
00:33:15,320 --> 00:33:19,479
Speaker 4: Book Retire Your Fear, Plan Your Future to help people

650
00:33:19,600 --> 00:33:25,800
Speaker 4: understand what retirement really looks like today, especially longer retirements,

651
00:33:26,040 --> 00:33:30,680
Speaker 4: and to approach it with clarity instead of anxiety.

652
00:33:30,400 --> 00:33:33,240
Speaker 1: Because early retirement works best when you don't try to

653
00:33:33,240 --> 00:33:34,960
Speaker 1: figure everything out on your own.

654
00:33:35,280 --> 00:33:39,000
Speaker 5: When we return, we'll talk about how people in their

655
00:33:39,040 --> 00:33:44,880
Speaker 5: fifties and sixties design lifestyles that support long retirements, not

656
00:33:45,160 --> 00:33:49,800
Speaker 5: just financially, but emotionally and practically as well.

657
00:33:52,480 --> 00:33:56,560
Speaker 3: Safe money strategies brought to you by Kelly Financial Services

658
00:33:56,760 --> 00:34:00,520
Speaker 3: called eight eight eight eight hundred eighteen eighty one or

659
00:34:00,600 --> 00:34:02,520
Speaker 3: visit Kelly Financial dot org.

660
00:34:03,120 --> 00:34:07,080
Speaker 11: Ready to enjoy your golden years without worry. At Kelly Financial,

661
00:34:07,200 --> 00:34:10,520
Speaker 11: we know retirement planning can be overwhelming. With more than

662
00:34:10,560 --> 00:34:14,279
Speaker 11: twenty two years of experience, our friendly team of advisors

663
00:34:14,320 --> 00:34:17,520
Speaker 11: makes it easy and stress free. Trust us to help

664
00:34:17,560 --> 00:34:20,200
Speaker 11: you create a secure and enjoyable future.

665
00:34:20,440 --> 00:34:21,400
Speaker 7: For a free.

666
00:34:21,120 --> 00:34:25,400
Speaker 11: Initial retirement consultation called eight eight eight eight hundred, eighteen

667
00:34:25,440 --> 00:34:29,640
Speaker 11: eighty one or email Kelly at Kellyfinancial dot org. We're

668
00:34:29,719 --> 00:34:31,799
Speaker 11: Kelly Financial. Come retire with.

669
00:34:31,760 --> 00:34:36,720
Speaker 3: Us Safe Money Strategies with William Kelly and Kelly Kelly.

670
00:34:36,960 --> 00:34:43,600
Speaker 3: Call the team on eight eight eight hundred, eighteen eighty one.

671
00:34:45,000 --> 00:34:49,239
Speaker 4: Welcome back to Safe Money Strategies. I'm Kelly Kelly here

672
00:34:49,280 --> 00:34:53,319
Speaker 4: with my son, William Kelly Junior. Before the break, we

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00:34:53,400 --> 00:34:56,719
Speaker 4: talked about why so many people in their fifties and

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00:34:56,800 --> 00:35:02,080
Speaker 4: early sixties are thinking about retiring earlier, and how early

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00:35:02,200 --> 00:35:06,840
Speaker 4: retirement today looks very different than it did for prior generations.

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00:35:07,440 --> 00:35:10,399
Speaker 1: One of the biggest takeaways from that conversation is that

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00:35:10,440 --> 00:35:13,120
Speaker 1: for many people, early retirement isn't a hard stop.

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00:35:13,280 --> 00:35:14,920
Speaker 2: It's more of a transition.

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00:35:14,920 --> 00:35:19,719
Speaker 4: That's exactly right. For people in their fifties and early sixties,

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00:35:19,880 --> 00:35:23,480
Speaker 4: Early retirement often acts as a set of bridge ears.

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00:35:23,960 --> 00:35:27,640
Speaker 4: It's a period of adjustment rather than a permanent decision

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00:35:27,760 --> 00:35:29,160
Speaker 4: made all at once.

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00:35:29,680 --> 00:35:32,080
Speaker 1: Because this stage of life is already a balancing out

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00:35:32,239 --> 00:35:35,520
Speaker 1: and you may be dealing with career burnout, caregiving responsibilities,

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00:35:35,760 --> 00:35:39,000
Speaker 1: adult children, finding their footing, and increased awareness of your

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00:35:39,000 --> 00:35:41,000
Speaker 1: own health all at the same time.

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00:35:41,320 --> 00:35:44,719
Speaker 4: That's why one of the healthiest mindset shifts we see

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00:35:44,760 --> 00:35:48,120
Speaker 4: as treating the first year or two of retirement as

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00:35:48,160 --> 00:35:52,680
Speaker 4: a test drive period is the time to observe, adjust

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00:35:53,320 --> 00:35:56,120
Speaker 4: and avoid making everything permanent right away.

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00:35:56,680 --> 00:35:57,600
Speaker 2: The people who do.

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00:35:57,520 --> 00:35:59,440
Speaker 1: This well don't try to solve the next thirty or

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00:35:59,440 --> 00:36:01,839
Speaker 1: forty years on day one exactly.

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00:36:02,080 --> 00:36:06,160
Speaker 4: Instead, they focus on a few core areas that support

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00:36:06,280 --> 00:36:12,239
Speaker 4: flexibility early on. One is time structure, because without structure,

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00:36:12,560 --> 00:36:17,040
Speaker 4: days can start to blur together more quickly than people expect.

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00:36:17,680 --> 00:36:21,279
Speaker 1: Another is healthcare continuity, not because it's something to fear,

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00:36:21,320 --> 00:36:24,440
Speaker 1: but because surprises can disrupt peace of mind if you're

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00:36:24,480 --> 00:36:25,640
Speaker 1: not paying attention to it.

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00:36:26,320 --> 00:36:27,960
Speaker 2: And the third is purpose.

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00:36:28,400 --> 00:36:32,680
Speaker 4: Retirement doesn't mean losing your identity, but it does mean

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00:36:32,840 --> 00:36:33,879
Speaker 4: redefining it.

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00:36:34,680 --> 00:36:38,280
Speaker 1: That's where flexibility becomes such an important theme in early retirement.

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00:36:38,640 --> 00:36:41,800
Speaker 4: It really is flexibility may be one of the most

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00:36:41,960 --> 00:36:47,280
Speaker 4: valuable assets someone can have in retirement. People feel less

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00:36:47,320 --> 00:36:49,880
Speaker 4: stressed when they know they have options.

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00:36:50,520 --> 00:36:52,200
Speaker 2: That thing can show up in different ways.

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00:36:52,360 --> 00:36:56,360
Speaker 1: Optional income, for example, can support freedom rather than obligation.

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00:36:56,239 --> 00:37:00,960
Speaker 4: And flexibility allows people to adapt as life life changes.

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00:37:01,400 --> 00:37:06,520
Speaker 4: Because life does change, control often matters more than just

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00:37:06,640 --> 00:37:08,000
Speaker 4: having a rigid plan.

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00:37:08,960 --> 00:37:11,399
Speaker 1: One of the first places early retirees feel the need

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00:37:11,440 --> 00:37:15,040
Speaker 1: for flexibility is healthcare, especially before age sixty five.

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00:37:15,480 --> 00:37:20,640
Speaker 4: When people retire early, they usually know Medicare doesn't start

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00:37:20,719 --> 00:37:26,240
Speaker 4: until sixty five. What they often underestimate is how hands

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00:37:26,320 --> 00:37:29,880
Speaker 4: on healthcare becomes during those years.

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00:37:30,320 --> 00:37:33,200
Speaker 1: The early retirees who navigate this well treat healthcare is

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00:37:33,239 --> 00:37:35,560
Speaker 1: an ongoing system, not a one time decision.

719
00:37:36,120 --> 00:37:41,719
Speaker 4: They revisit it regularly because plans, provider networks, premiums, and

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00:37:41,840 --> 00:37:45,200
Speaker 4: rules can change. They don't set it and forget it.

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00:37:45,520 --> 00:37:48,600
Speaker 1: Another hobby we see is that they map healthcare alongside

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00:37:48,640 --> 00:37:50,840
Speaker 1: life stages, not just calendar years.

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00:37:51,120 --> 00:37:56,160
Speaker 4: For example, early retirement years when activity and travel are higher,

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00:37:56,600 --> 00:38:00,759
Speaker 4: mid retirement years when health needs may shift, and then

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00:38:00,880 --> 00:38:03,000
Speaker 4: the Medicare transition years.

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00:38:03,520 --> 00:38:05,520
Speaker 1: They also plan for health care the same way they

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00:38:05,520 --> 00:38:08,640
Speaker 1: plan for travel or home maintenance, expecting out of pocket costs.

728
00:38:08,719 --> 00:38:09,600
Speaker 2: Not just premiums.

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00:38:10,120 --> 00:38:16,680
Speaker 4: Staying proactive reduces surprises, and surprises are often what creates stress.

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00:38:17,360 --> 00:38:20,320
Speaker 1: Once healthcare is handled thoughtfully, The next question many early

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00:38:20,360 --> 00:38:23,480
Speaker 1: retirees face is how to structure their time and emotional wellbeing.

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00:38:24,040 --> 00:38:28,239
Speaker 4: This is such an important part of the conversation retirement

733
00:38:28,360 --> 00:38:31,960
Speaker 4: confidence isn't just financial, is emotional.

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00:38:32,600 --> 00:38:35,520
Speaker 1: Leaving that full time work often comes with an identity shift,

735
00:38:35,600 --> 00:38:37,799
Speaker 1: even if retirement was something you look forward to.

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00:38:38,400 --> 00:38:44,000
Speaker 4: That's why structure matters. Staying socially engaged matters. Having a

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00:38:44,160 --> 00:38:45,800
Speaker 4: sense of purpose matters.

738
00:38:46,480 --> 00:38:49,759
Speaker 1: People who stay connected to people, interests, and meaningful activities

739
00:38:49,800 --> 00:38:51,440
Speaker 1: tend to feel more grounded over time.

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00:38:51,920 --> 00:38:56,640
Speaker 4: A successful retirement feels good, not just secure.

741
00:38:56,880 --> 00:38:59,520
Speaker 1: And that's why the most successful retirements tend to evolve

742
00:38:59,600 --> 00:39:01,560
Speaker 1: naturally instead of following a rigid plan.

743
00:39:02,400 --> 00:39:06,840
Speaker 4: Life changes, priorities shift, and retirement should be able to

744
00:39:06,960 --> 00:39:08,440
Speaker 4: change with them.

745
00:39:08,680 --> 00:39:11,160
Speaker 1: There isn't one right way to retire. The people who

746
00:39:11,160 --> 00:39:12,680
Speaker 1: adopt tend to feel more confident.

747
00:39:12,960 --> 00:39:17,880
Speaker 4: They leave room for change, They revisit decisions, they adjust

748
00:39:18,120 --> 00:39:21,080
Speaker 4: expectations without feeling like they failed.

749
00:39:21,640 --> 00:39:24,120
Speaker 2: That's where perspective becomes especially important.

750
00:39:24,719 --> 00:39:27,759
Speaker 4: The early retires who do well don't expect to have

751
00:39:27,880 --> 00:39:30,320
Speaker 4: everything perfectly figured out right away.

752
00:39:30,800 --> 00:39:33,280
Speaker 5: They understand that retirement is a journey.

753
00:39:33,800 --> 00:39:36,640
Speaker 1: They also tend to surround themselves with experienced professionals who

754
00:39:36,640 --> 00:39:39,000
Speaker 1: can help them think through changes as life of alls.

755
00:39:39,320 --> 00:39:44,960
Speaker 4: At Kelling Financial, our advisors help clients stay informed, flexible,

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00:39:45,360 --> 00:39:49,240
Speaker 4: and prepared for the realities of a long retirement without

757
00:39:49,360 --> 00:39:53,040
Speaker 4: pressure and without one size fits all answers.

758
00:39:53,440 --> 00:39:56,000
Speaker 2: The goal is in controller perfection. It's perspective.

759
00:39:56,360 --> 00:40:00,000
Speaker 4: I wrote my book Retire Your Fear, Plan Your Future

760
00:40:00,040 --> 00:40:03,600
Speaker 4: KUKA as a starting point for these conversations to help

761
00:40:03,640 --> 00:40:08,520
Speaker 4: people understand the landscape of retirement today and feel more

762
00:40:08,560 --> 00:40:11,720
Speaker 4: confident asking the right questions.

763
00:40:11,719 --> 00:40:15,040
Speaker 1: Because confidence and retirement comes from understanding the journey, not

764
00:40:15,120 --> 00:40:16,760
Speaker 1: from trying to predict every outcome.

765
00:40:17,280 --> 00:40:22,560
Speaker 4: If early retirement is something you're considering, education and guidance

766
00:40:22,640 --> 00:40:25,440
Speaker 4: can make a meaningful difference, and.

767
00:40:25,400 --> 00:40:28,400
Speaker 1: It starts with understanding that retiring younger isn't about stopping,

768
00:40:28,520 --> 00:40:30,480
Speaker 1: It's about designing a life that can last.

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00:40:30,960 --> 00:40:36,120
Speaker 4: You're listening to Safe Money Strategies right here on WRKO.

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00:40:36,800 --> 00:40:37,560
Speaker 5: Stay with us.

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00:40:37,680 --> 00:40:43,480
Speaker 4: We have more informative content coming your way.

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00:40:44,440 --> 00:40:48,520
Speaker 3: Safe Money Strategies brought to you by Kelly Financial Services

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00:40:48,719 --> 00:40:52,520
Speaker 3: call eight eight eight eight hundred eighteen eighty one or

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00:40:52,600 --> 00:40:54,520
Speaker 3: visit Kellyfinancial dot org.

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00:40:55,880 --> 00:40:57,440
Speaker 2: Welcome back to Safe Money Strategies.

776
00:40:57,480 --> 00:41:01,280
Speaker 6: I'm Mike two SAT, and alongside me is Workman, investment

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00:41:01,320 --> 00:41:03,080
Speaker 6: advisor here at Kelly Financial.

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00:41:03,320 --> 00:41:04,120
Speaker 7: Great to be back.

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00:41:04,200 --> 00:41:07,760
Speaker 9: Before the break, we introduce step two of the Safe

780
00:41:07,840 --> 00:41:12,400
Speaker 9: Money Strategies process, the investment review, and why this step

781
00:41:12,640 --> 00:41:15,479
Speaker 9: is especially important as we enter a new year.

782
00:41:15,600 --> 00:41:18,400
Speaker 6: We also talked about how step one, creating a written,

783
00:41:18,480 --> 00:41:22,280
Speaker 6: tailored financial plan sets the foundation, but the perspective clients

784
00:41:22,320 --> 00:41:24,879
Speaker 6: can start with step two if they're feeling anxious about

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00:41:24,880 --> 00:41:28,480
Speaker 6: their current investment allocation. Now, let's go deeper into what

786
00:41:28,600 --> 00:41:32,600
Speaker 6: actually makes an investment allocation appropriate, especially for people approaching

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00:41:32,800 --> 00:41:34,000
Speaker 6: or already in retirement.

788
00:41:34,040 --> 00:41:37,200
Speaker 9: This is one of the most common misconceptions that we see.

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00:41:37,360 --> 00:41:40,800
Speaker 9: Many investors believe that if their portfolio is quote unquote

790
00:41:40,880 --> 00:41:44,160
Speaker 9: doing okay or it hasn't lost money recently, that it

791
00:41:44,239 --> 00:41:48,799
Speaker 9: must be positioned properly. But performance alone doesn't tell the

792
00:41:48,840 --> 00:41:50,360
Speaker 9: full story exactly.

793
00:41:50,560 --> 00:41:53,520
Speaker 2: A well positioned portfolio isn't about chasing returns.

794
00:41:53,800 --> 00:41:57,359
Speaker 6: It's about alignment alignment with your goals, your timeline, your

795
00:41:57,360 --> 00:41:59,439
Speaker 6: income needs, and your tolerance for risk.

796
00:42:00,000 --> 00:42:03,600
Speaker 9: Reqirement, the purpose of your investments changes. You're no longer

797
00:42:03,760 --> 00:42:05,920
Speaker 9: just accumulating assets.

798
00:42:05,719 --> 00:42:07,239
Speaker 7: You are relying on them.

799
00:42:07,480 --> 00:42:11,120
Speaker 9: That shift requires a different approach to allocation.

800
00:42:11,400 --> 00:42:13,200
Speaker 6: Let's talk about some of the common issues that come

801
00:42:13,280 --> 00:42:15,319
Speaker 6: up when we perform an investment analysis.

802
00:42:15,400 --> 00:42:17,359
Speaker 7: One big one is unintentional risk.

803
00:42:17,640 --> 00:42:22,000
Speaker 9: People often own multiple funds or investments across different accounts

804
00:42:22,160 --> 00:42:25,600
Speaker 9: that sound diversified, but when you look under the hood,

805
00:42:25,800 --> 00:42:29,160
Speaker 9: they're actually holding the same type of investments over and

806
00:42:29,200 --> 00:42:29,800
Speaker 9: over again.

807
00:42:29,880 --> 00:42:32,799
Speaker 6: So they think they're diversified, but they're really just duplicating

808
00:42:32,920 --> 00:42:33,880
Speaker 6: risk exactly.

809
00:42:34,160 --> 00:42:38,360
Speaker 9: Another issue is portfolios that have not evolved over time.

810
00:42:38,719 --> 00:42:42,760
Speaker 9: Someone might still be invested like they're ten or fifteen

811
00:42:42,840 --> 00:42:46,800
Speaker 9: years away from retirement, even though retirement is right around

812
00:42:46,840 --> 00:42:47,280
Speaker 9: the corner.

813
00:42:47,360 --> 00:42:51,000
Speaker 6: We also see portfolios that don't consider income sequencing risk,

814
00:42:51,239 --> 00:42:54,040
Speaker 6: meaning the risk of withdrawing money during a market downturn

815
00:42:54,160 --> 00:42:55,120
Speaker 6: early in retirement.

816
00:42:55,239 --> 00:42:57,800
Speaker 9: That's a big one. Two people can earn the same

817
00:42:58,000 --> 00:43:02,840
Speaker 9: average return over time, but if one experiences losses early

818
00:43:03,000 --> 00:43:07,000
Speaker 9: while taking withdrawals, their outcomes can be dramatically different.

819
00:43:07,160 --> 00:43:09,760
Speaker 6: Volatility is another concern we hear about all the time,

820
00:43:10,040 --> 00:43:11,760
Speaker 6: especially after years of market swings.

821
00:43:12,000 --> 00:43:17,799
Speaker 9: Volatility isn't inherently bad, but unmanaged volatility can be dangerous,

822
00:43:18,120 --> 00:43:21,400
Speaker 9: especially when you're relying on your portfolio for a steady

823
00:43:21,400 --> 00:43:25,120
Speaker 9: stream of income. That's why step two of the Safe

824
00:43:25,160 --> 00:43:30,120
Speaker 9: Money Strategies process focuses on understanding how much downside risk

825
00:43:30,320 --> 00:43:35,080
Speaker 9: exists and whether that risk is necessary to achieve your goals.

826
00:43:35,160 --> 00:43:37,000
Speaker 6: And that brings us back to step one and why

827
00:43:37,080 --> 00:43:39,400
Speaker 6: it matters so much. Without a plan, you don't know

828
00:43:39,440 --> 00:43:41,799
Speaker 6: how much risk you actually need to take exactly.

829
00:43:41,960 --> 00:43:47,480
Speaker 9: Once we understand income needs, other assets, pensions, social security, timing,

830
00:43:47,840 --> 00:43:52,000
Speaker 9: and taxes, we can design an allocation that supports your plan,

831
00:43:52,400 --> 00:43:53,560
Speaker 9: not the other way around.

832
00:43:53,680 --> 00:43:55,480
Speaker 2: Let's share another example to illustrate this.

833
00:43:55,680 --> 00:43:58,360
Speaker 9: We worked with a retiree Let's call her Susan. She

834
00:43:58,560 --> 00:44:02,520
Speaker 9: was already retired and drawing income from her portfolio. Her

835
00:44:02,520 --> 00:44:05,600
Speaker 9: biggest fear wasn't running out of money, it was watching

836
00:44:05,600 --> 00:44:08,160
Speaker 9: her account balance fluctuate from month to month.

837
00:44:08,400 --> 00:44:10,800
Speaker 2: Emotionally, the volatility was taking a toll.

838
00:44:10,920 --> 00:44:13,640
Speaker 9: When we reviewed her investments, we found that her portfolio

839
00:44:14,040 --> 00:44:18,120
Speaker 9: was technically well diversified, but it was far more volatile

840
00:44:18,200 --> 00:44:22,280
Speaker 9: than necessary given her income needs. By adjusting her allocation

841
00:44:22,719 --> 00:44:25,560
Speaker 9: without trying to time the market. We were able to

842
00:44:25,600 --> 00:44:28,520
Speaker 9: reduce volatility while supporting her income goals.

843
00:44:28,640 --> 00:44:31,800
Speaker 6: The result wasn't just financial, it was emotional peace of mind.

844
00:44:32,160 --> 00:44:34,799
Speaker 6: Let's revisit something important with choosing a firm for an

845
00:44:34,840 --> 00:44:35,680
Speaker 6: investment review.

846
00:44:35,880 --> 00:44:36,600
Speaker 2: Independence.

847
00:44:36,719 --> 00:44:40,520
Speaker 9: As an independent registered investment advisor, we are not tied

848
00:44:40,560 --> 00:44:44,000
Speaker 9: to proprietary products, and that allows us to be objective.

849
00:44:44,400 --> 00:44:47,680
Speaker 9: We're not limited to a short list of approved investments

850
00:44:48,000 --> 00:44:50,839
Speaker 9: or incentivized by a commission structure, and.

851
00:44:50,880 --> 00:44:53,759
Speaker 6: Because we re fiduciaries, our recommendations must be in the

852
00:44:53,760 --> 00:44:55,480
Speaker 6: client's best interest period.

853
00:44:55,680 --> 00:44:59,120
Speaker 9: That is especially important during an investment analysis.

854
00:44:59,400 --> 00:45:01,400
Speaker 7: The goal is isn't to move money.

855
00:45:01,600 --> 00:45:05,279
Speaker 9: The goal is to determine whether the current strategy actually

856
00:45:05,320 --> 00:45:10,040
Speaker 9: fits the client situation. If your allocation is solid and appropriate,

857
00:45:10,239 --> 00:45:13,160
Speaker 9: we will tell you that sometimes the best outcome from

858
00:45:13,200 --> 00:45:16,360
Speaker 9: an analysis is confirmation that you are already on the

859
00:45:16,440 --> 00:45:17,239
Speaker 9: right track.

860
00:45:17,120 --> 00:45:19,359
Speaker 6: And if there are areas for improvement, then you can

861
00:45:19,360 --> 00:45:21,600
Speaker 6: decide whether you want help implementing changes.

862
00:45:21,680 --> 00:45:23,880
Speaker 7: Information first, decision second.

863
00:45:24,000 --> 00:45:27,160
Speaker 6: One of the biggest benefits of step two is stress reduction.

864
00:45:27,440 --> 00:45:31,560
Speaker 9: Uncertainty creates anxiety when people don't fully understand their investments

865
00:45:31,920 --> 00:45:35,719
Speaker 9: or don't know how they'll behave in different market environments.

866
00:45:36,120 --> 00:45:39,400
Speaker 9: That uncertainty can lead to emotional decisions.

867
00:45:39,520 --> 00:45:43,160
Speaker 6: A proper investment review replaces guest work with clarity.

868
00:45:42,880 --> 00:45:47,719
Speaker 9: And clarity leads to confidence, especially during volatile markets.

869
00:45:47,840 --> 00:45:51,080
Speaker 6: So to recap, Step two isn't about predicting markets or

870
00:45:51,120 --> 00:45:54,200
Speaker 6: picking winners. It's about making sure your investments support your

871
00:45:54,200 --> 00:45:55,319
Speaker 6: retirement goals.

872
00:45:55,160 --> 00:45:58,400
Speaker 9: And Whilstep one, the written financial plan, is highly recommended

873
00:45:58,640 --> 00:46:03,680
Speaker 9: and complementary. Step two provides immediate insight for those who

874
00:46:03,760 --> 00:46:07,120
Speaker 9: want reassurance about their allocation right now.

875
00:46:07,200 --> 00:46:09,600
Speaker 6: Both steps are designed to work together while we meet

876
00:46:09,640 --> 00:46:10,399
Speaker 6: you where you are.

877
00:46:10,480 --> 00:46:12,520
Speaker 9: If you'd like to learn more about the Safe Money

878
00:46:12,520 --> 00:46:16,479
Speaker 9: Strategies process, we encourage you to request our Safe Money

879
00:46:16,480 --> 00:46:17,480
Speaker 9: Strategies Workbook.

880
00:46:17,560 --> 00:46:19,840
Speaker 6: The workbook walks you through each step of the process

881
00:46:19,880 --> 00:46:22,719
Speaker 6: and helps you organize your thoughts before having a conversation

882
00:46:22,800 --> 00:46:23,160
Speaker 6: with us.

883
00:46:23,239 --> 00:46:27,200
Speaker 9: There's no cost, no obligation, and no pressure, just education

884
00:46:27,680 --> 00:46:28,560
Speaker 9: and clarity.

885
00:46:28,640 --> 00:46:31,600
Speaker 6: You can request the workbook and schedule a complementary conversation

886
00:46:31,760 --> 00:46:33,160
Speaker 6: by reaching out to us directly.

887
00:46:33,320 --> 00:46:36,040
Speaker 9: Thank you for listening to Safe Money Strategies. We look

888
00:46:36,080 --> 00:46:37,920
Speaker 9: forward to continuing the conversation.

889
00:46:38,080 --> 00:46:39,919
Speaker 2: Have a great week and we'll see you next time.

890
00:46:45,400 --> 00:46:46,520
Speaker 2: I'm William Kelly Junior.

891
00:46:46,800 --> 00:46:48,960
Speaker 1: As we start a new year, many families are thinking

892
00:46:48,960 --> 00:46:52,759
Speaker 1: about fresh starts, not just financially, but how young people prepare.

893
00:46:52,440 --> 00:46:55,760
Speaker 2: For what comes next. I've had the unique experience.

894
00:46:55,360 --> 00:46:58,640
Speaker 1: Of growing up around real conversations with our clients, families,

895
00:46:58,719 --> 00:47:03,280
Speaker 1: parents and grandparents. It's about money, responsibility, and long term thinking,

896
00:47:03,520 --> 00:47:06,400
Speaker 1: not theory, real life, and it's important to remember that

897
00:47:06,520 --> 00:47:09,880
Speaker 1: all investing involves risk, including the potential loss of principle,

898
00:47:10,160 --> 00:47:13,399
Speaker 1: which is why habits, education, and perspective.

899
00:47:13,040 --> 00:47:14,640
Speaker 2: Matter so much from the start.

900
00:47:14,840 --> 00:47:17,480
Speaker 1: That's why I wrote Only the Good Investient as a

901
00:47:17,480 --> 00:47:21,080
Speaker 1: straightforward guide to the basics of money, habits and decisions

902
00:47:21,080 --> 00:47:23,880
Speaker 1: that matter over time, whether you're a client, a parent

903
00:47:23,960 --> 00:47:26,640
Speaker 1: or grandparent, or someone just starting out. This is meant

904
00:47:26,680 --> 00:47:30,800
Speaker 1: to be practical, clear, and encouraging. Were offering complimentary signed

905
00:47:30,800 --> 00:47:34,720
Speaker 1: copies to our WRKL listeners and clients. It's also available

906
00:47:34,760 --> 00:47:38,000
Speaker 1: on Amazon in softcover or kindle. Call eight at eight

907
00:47:38,040 --> 00:47:41,000
Speaker 1: eight hundred and one or email Kelly at Kelly Financial

908
00:47:41,120 --> 00:47:44,480
Speaker 1: dot org. Good habits start early and they last a lifetime.

909
00:47:45,680 --> 00:47:50,040
Speaker 10: Joining us now, as she always does at this time,

910
00:47:50,600 --> 00:47:55,320
Speaker 10: she is the co founder CEO and President of Kelly

911
00:47:55,440 --> 00:48:01,400
Speaker 10: Financial Services, and yes, that is her wonderful name, Kelly,

912
00:48:01,640 --> 00:48:05,280
Speaker 10: Kelly Kelly, how are.

913
00:48:05,640 --> 00:48:08,720
Speaker 5: You good morning, Jeff? I am good.

914
00:48:09,120 --> 00:48:12,239
Speaker 4: As we head into a new year, I think a

915
00:48:12,320 --> 00:48:16,480
Speaker 4: lot of people who are approaching retirement are realizing something

916
00:48:16,680 --> 00:48:20,640
Speaker 4: very important. Retirement today doesn't look the way it used to.

917
00:48:21,040 --> 00:48:24,920
Speaker 4: For many families, the idea of fully stopping work at

918
00:48:24,960 --> 00:48:28,839
Speaker 4: a certain age just doesn't feel realistic anymore, and for

919
00:48:28,960 --> 00:48:32,879
Speaker 4: some it doesn't even feel desirable. People want options, they

920
00:48:32,880 --> 00:48:36,799
Speaker 4: want flexibility, and they want to feel confident about what

921
00:48:37,000 --> 00:48:40,799
Speaker 4: comes next. And if that sounds familiar, it doesn't mean

922
00:48:40,840 --> 00:48:44,040
Speaker 4: you're behind, and it doesn't mean you've done anything wrong.

923
00:48:44,280 --> 00:48:48,560
Speaker 4: It simply means retirement has changed and your plan may

924
00:48:48,640 --> 00:48:52,080
Speaker 4: need to evolve with it. That's exactly why I wrote

925
00:48:52,239 --> 00:48:55,960
Speaker 4: Retire your Fear, Plan Your Future is designed to help

926
00:48:56,000 --> 00:49:01,399
Speaker 4: people think through longer retirements, flexible income, and the financial

927
00:49:01,480 --> 00:49:06,320
Speaker 4: decisions that come with today's realities without panic or pressure.

928
00:49:06,719 --> 00:49:09,560
Speaker 4: If you'd like a complimentary copy, you can give us

929
00:49:09,600 --> 00:49:14,960
Speaker 4: a call or email us at Kelly at Kellyfinancial dot org. Jeff,

930
00:49:15,000 --> 00:49:18,160
Speaker 4: have a wonderful weekend. My best of grace, Send the kiddos.

931
00:49:18,560 --> 00:49:21,360
Speaker 10: Thank you, Kelly, all the best to you and everyone

932
00:49:21,440 --> 00:49:25,080
Speaker 10: at Kelly Financial. To get a free copy of that guide,

933
00:49:25,120 --> 00:49:26,840
Speaker 10: and I urge all of you if you can do

934
00:49:26,960 --> 00:49:30,920
Speaker 10: get it call now eight eight eight eight hundred, eighteen

935
00:49:31,080 --> 00:49:34,680
Speaker 10: eighty one eight eighty eight eight hundred eighteen eighty one,

936
00:49:35,360 --> 00:49:40,080
Speaker 10: or you can actually email Kelly herself personally Kelly at

937
00:49:40,160 --> 00:49:46,040
Speaker 10: Kellyfinancial dot org. That's Kelly at Kelly Financial dot org.

938
00:49:50,880 --> 00:49:56,160
Speaker 3: Safe Money Strategies at eight eight hundred one eight eight one.

939
00:49:57,960 --> 00:50:00,719
Speaker 4: One of the greatest gifts Bill Kelly he left us

940
00:50:01,040 --> 00:50:04,080
Speaker 4: was his ability to cut through the noise and to

941
00:50:04,160 --> 00:50:08,440
Speaker 4: get to what really matters. In this next segment, Bill

942
00:50:08,520 --> 00:50:14,359
Speaker 4: shares the principles he believed separated lasting wealth from temporary

943
00:50:14,480 --> 00:50:18,600
Speaker 4: success and why protecting what you have is often more

944
00:50:18,640 --> 00:50:21,360
Speaker 4: important than chasing what's next.

945
00:50:21,920 --> 00:50:23,080
Speaker 5: Here's Bill Kelly.

946
00:50:24,480 --> 00:50:28,000
Speaker 8: We decided to try and find out what billionaires had

947
00:50:28,040 --> 00:50:32,160
Speaker 8: in common, and it was an interesting study. You hear

948
00:50:32,200 --> 00:50:34,320
Speaker 8: a lot about a millionaire or this, and a millionaire,

949
00:50:34,360 --> 00:50:37,239
Speaker 8: a multimillionaire loses all his money or this and that.

950
00:50:37,520 --> 00:50:40,480
Speaker 8: It's very seldom that you hear about a billionaire who's

951
00:50:40,480 --> 00:50:44,200
Speaker 8: honestly gained his money of going broke because they adhere

952
00:50:44,280 --> 00:50:49,880
Speaker 8: to certain laws. The first thing is the law of deferral. Basically,

953
00:50:49,960 --> 00:50:53,279
Speaker 8: never pay taxes on money you're not using. Why would

954
00:50:53,280 --> 00:50:56,120
Speaker 8: you pay taxes when you don't have to avoid it

955
00:50:56,239 --> 00:50:59,719
Speaker 8: until you must pay it. And there's a law of safety.

956
00:51:00,239 --> 00:51:05,160
Speaker 8: Why deposit money unless it's guaranteed collect interests? Don't pay interest.

957
00:51:06,000 --> 00:51:09,799
Speaker 8: That's what you'll find that they're doing. So risk the

958
00:51:09,920 --> 00:51:14,200
Speaker 8: law of insurable risk, ladies and gentlemen. Risk isn't an

959
00:51:14,200 --> 00:51:18,160
Speaker 8: emotion that makes you feel scared. No, that's called worry.

960
00:51:18,480 --> 00:51:22,000
Speaker 8: That's not called risk. Risk is a measurable quantity which

961
00:51:22,040 --> 00:51:26,520
Speaker 8: you can put on a scatterplot, according to Harry Markowitz,

962
00:51:26,560 --> 00:51:29,359
Speaker 8: the man who won the Nobel Prize, and you can

963
00:51:29,400 --> 00:51:32,279
Speaker 8: see the amount of risk in your portfolio, and you

964
00:51:32,320 --> 00:51:35,120
Speaker 8: can make a conscious decision to avoid more, or to

965
00:51:35,239 --> 00:51:38,560
Speaker 8: take more, or to stay where you are. So that's

966
00:51:38,560 --> 00:51:42,640
Speaker 8: the law of insurable risk. If you can insure your risk,

967
00:51:42,800 --> 00:51:47,840
Speaker 8: do it. People might buy municipals, they might be insured.

968
00:51:49,000 --> 00:51:51,680
Speaker 8: You might buy an insurance product where you invest money

969
00:51:51,680 --> 00:51:57,000
Speaker 8: and it's insured. So avoid risk. Never truly risk your

970
00:51:57,040 --> 00:51:59,279
Speaker 8: money where it's like a fifty to fifty chance you're

971
00:51:59,280 --> 00:52:03,520
Speaker 8: going to get it back. That's called gambling. So that's

972
00:52:03,560 --> 00:52:08,680
Speaker 8: called risk avoidance. The law of risk avoidance, especially as

973
00:52:08,760 --> 00:52:12,719
Speaker 8: you approach past the age of fifty, it's very difficult

974
00:52:12,760 --> 00:52:16,120
Speaker 8: to make up losses, and that brings us to the

975
00:52:16,200 --> 00:52:21,799
Speaker 8: law of conservation. Keep what you have, Keep what you have,

976
00:52:21,920 --> 00:52:24,200
Speaker 8: ladies and gentlemen. If you can keep what you have,

977
00:52:25,000 --> 00:52:28,120
Speaker 8: you can always invest again. If you lose it, then

978
00:52:28,160 --> 00:52:31,680
Speaker 8: it's gone forever, and it's hard to get that money back.

979
00:52:32,680 --> 00:52:36,200
Speaker 8: The law of timing, ladies and gentlemen. Bulls make money,

980
00:52:36,200 --> 00:52:42,960
Speaker 8: bears make money. Pigs get slaughtered, so timing is very difficult.

981
00:52:43,440 --> 00:52:46,560
Speaker 8: Time can be your friend as you age, time can

982
00:52:46,600 --> 00:52:51,840
Speaker 8: become your enemy. The law of good sense. Make money

983
00:52:51,840 --> 00:52:55,040
Speaker 8: by selling too soon, ladies and gentlemen, don't wait around.

984
00:52:56,200 --> 00:52:59,680
Speaker 8: That's what Bernard Baruch said. I made all of my

985
00:52:59,719 --> 00:53:02,960
Speaker 8: money by selling too soon. That means he avoided losses,

986
00:53:03,400 --> 00:53:07,239
Speaker 8: and he probably sold near the top because there's a

987
00:53:07,280 --> 00:53:10,920
Speaker 8: crush of activity at every market top if you can

988
00:53:10,960 --> 00:53:13,760
Speaker 8: look at it. I have a stock market heart attack

989
00:53:13,880 --> 00:53:17,200
Speaker 8: report to show you where the stock market has had

990
00:53:17,200 --> 00:53:20,719
Speaker 8: a heart attack. And when you see that, you'll say, wow,

991
00:53:21,840 --> 00:53:25,760
Speaker 8: that is amazing thing. That the volume was the highest

992
00:53:25,880 --> 00:53:29,719
Speaker 8: right before the crashes. Stocks are the only thing that

993
00:53:29,760 --> 00:53:33,040
Speaker 8: people rush to buy more of when they go up

994
00:53:33,440 --> 00:53:38,120
Speaker 8: in price. If cheerios were going up to twelve bucks

995
00:53:38,120 --> 00:53:40,319
Speaker 8: a bucks, you wouldn't be running out to buy them.

996
00:53:41,719 --> 00:53:47,400
Speaker 8: So timing is good. Time is better selling too, soons

997
00:53:47,680 --> 00:53:52,080
Speaker 8: never kick yourself if you've made money. The law of

998
00:53:52,160 --> 00:53:55,320
Speaker 8: excess is if it sounds too good to be true,

999
00:53:55,600 --> 00:53:59,279
Speaker 8: it probably is. So if you'd want to take a

1000
00:53:59,280 --> 00:54:03,400
Speaker 8: look at that stock heart attack illustration, just give us

1001
00:54:03,400 --> 00:54:06,040
Speaker 8: a call at eight eight eight, eight hundred and one,

1002
00:54:06,160 --> 00:54:09,680
Speaker 8: eight eight one, and you can see where you may

1003
00:54:09,719 --> 00:54:13,160
Speaker 8: have lost so much value over the years since nineteen

1004
00:54:13,239 --> 00:54:15,239
Speaker 8: ninety eight, and look at what the market did right

1005
00:54:15,239 --> 00:54:20,440
Speaker 8: before that. So now the law of excess means too

1006
00:54:20,480 --> 00:54:24,280
Speaker 8: good to be true, get away from it. Really, be careful.

1007
00:54:25,360 --> 00:54:28,839
Speaker 8: The law of value. Time is money. If you can

1008
00:54:28,880 --> 00:54:31,000
Speaker 8: save time by spending money, you might want to do that.

1009
00:54:32,160 --> 00:54:34,640
Speaker 8: If you can save time by avoiding loss, so you

1010
00:54:34,680 --> 00:54:38,080
Speaker 8: don't have to wait out a portfoliotimate to watch it

1011
00:54:38,160 --> 00:54:43,520
Speaker 8: go up again, hopefully, just have to be careful. The

1012
00:54:43,640 --> 00:54:49,200
Speaker 8: law of opportunity number ten. Opportunities are usually disguised as

1013
00:54:49,239 --> 00:54:53,280
Speaker 8: hard work doing the research talking to the people, finding

1014
00:54:53,280 --> 00:54:56,759
Speaker 8: the right professional, making sure that they're working hard for you.

1015
00:54:58,120 --> 00:55:01,799
Speaker 8: That's all part of opportunity. Generally, opportunity means you're at

1016
00:55:01,800 --> 00:55:04,719
Speaker 8: the right place and you're ready. But you did both

1017
00:55:04,719 --> 00:55:07,960
Speaker 8: of those things. You made yourself ready and you got

1018
00:55:08,000 --> 00:55:12,200
Speaker 8: yourself to that spot. And the one law, the law

1019
00:55:12,239 --> 00:55:16,120
Speaker 8: of happiness, that supersedes all of the others, is there's

1020
00:55:16,160 --> 00:55:19,080
Speaker 8: only one success, and that's being able to spend your

1021
00:55:19,120 --> 00:55:22,120
Speaker 8: life your way. And isn't that what we're all in

1022
00:55:22,160 --> 00:55:26,239
Speaker 8: this game for. We help others and for our own

1023
00:55:26,280 --> 00:55:30,400
Speaker 8: happiness in doing so. You have to take things in

1024
00:55:30,440 --> 00:55:33,440
Speaker 8: your own hands when it comes to planning, when it

1025
00:55:33,440 --> 00:55:36,920
Speaker 8: comes to investment advice, when it comes to keeping what

1026
00:55:36,960 --> 00:55:41,000
Speaker 8: you have, you want to keep what you have. It's okay,

1027
00:55:41,080 --> 00:55:44,560
Speaker 8: ladies and gentlemen. If you want to help someone else,

1028
00:55:44,960 --> 00:55:48,520
Speaker 8: someone you love, never be ashamed of that. It's the

1029
00:55:48,600 --> 00:55:53,480
Speaker 8: oldest emotional steering within us. The love we have for

1030
00:55:53,600 --> 00:55:57,680
Speaker 8: those in our lives, our family members, our partners, our

1031
00:55:57,800 --> 00:56:03,080
Speaker 8: husbands and wives, are children and grandchildren, nieces, nephews, and

1032
00:56:03,120 --> 00:56:07,239
Speaker 8: our favorite causes. We want to help those, We want

1033
00:56:07,239 --> 00:56:11,759
Speaker 8: to help them, and that's what we do. We're a

1034
00:56:11,840 --> 00:56:16,040
Speaker 8: working nation of people who are striving. We're trying to

1035
00:56:16,080 --> 00:56:17,600
Speaker 8: do something better every day.

1036
00:56:19,440 --> 00:56:24,520
Speaker 3: We called Kelly Financial Services eight eight hundred eighteen eighty one.

1037
00:56:24,760 --> 00:56:27,040
Speaker 5: I'm Kelly Kelly from Kelly Financial.

1038
00:56:27,239 --> 00:56:31,480
Speaker 4: Whether you're in your sixties, seventies, or eighties, financial advice

1039
00:56:31,680 --> 00:56:34,640
Speaker 4: is important when it comes to preserving your nest egg.

1040
00:56:34,760 --> 00:56:38,200
Speaker 4: We have a free investor guide called designing your Fiscal

1041
00:56:38,280 --> 00:56:41,920
Speaker 4: House to Weather the Elements, which highlights the steps needed

1042
00:56:41,960 --> 00:56:45,560
Speaker 4: to build a balanced portfolio. For the guide, call eight

1043
00:56:45,600 --> 00:56:49,200
Speaker 4: eight eight eight hundred eighteen eighty one or email Kelly

1044
00:56:49,239 --> 00:56:51,240
Speaker 4: at Kellyfinancial dot org.

1045
00:56:51,520 --> 00:56:54,399
Speaker 5: We're Kelly Financial. Come retire with us