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Speaker 1: This is coming to us.

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

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

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

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

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

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

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

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

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

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

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

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Speaker 2: Since twosand and five, our show has remained a Saturday

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Speaker 2: morning staple, offering insight and empowerment. Here at Kelly Financial,

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Speaker 2: we help steward over seven hundred million dollars across our

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Speaker 2: affiliated business, including more than five hundred million dollars managed

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

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Speaker 2: our family first philosophy guides us on safe money strategies.

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Speaker 2: You'll hear candid conversations with the team, my mother Kelly, myself,

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

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

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

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

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

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

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

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Speaker 2: eight eight hundred one eight eight one.

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Speaker 1: This is Safe Money Strategies.

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

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Speaker 2: Kelly Junior.

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

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Speaker 3: 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: where I sit down with my son William Kelly Junior,

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

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

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Speaker 4: planning for the future, sometimes as light, sometimes as thoughtful,

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

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

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Speaker 4: I'm doing great this week?

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Speaker 2: And Mary Madeline we'll be dropping off her little puppy, Melly.

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Speaker 1: And as you know, ladies and gentlemen, I'm an.

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Speaker 2: Uncle, so this will be some quality you know, uncle

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Speaker 2: puppy bonding time together.

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Speaker 4: Yeah.

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Speaker 2: I've been given strict and instructions by Mary Madeline. But

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Speaker 2: ladies and gentlemen, if you want to think about Mellie,

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Speaker 2: just envision just like a beautiful prairie and it's a

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Speaker 2: movie and this cute little innocent cockapoo just running jumping.

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Speaker 4: Just brown and white, brown.

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Speaker 2: And white, just so happy. Doesn't even know how to

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Speaker 2: walk straight. She's just you know, swinging her little nub. Yeah,

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Speaker 2: she doesn't even have a tail. The tail's whack. It's

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Speaker 2: this cute little nub. And when she gets really happy,

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Speaker 2: she shakes her whole butt back and forth.

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Speaker 1: She's just the cutest dog.

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Speaker 2: I'm planning at Earth and she's just this potato full

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Speaker 2: of happiness and I just want to.

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Speaker 1: Just hold her and keep her forever.

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Speaker 4: So what else you've been working finalizing your book.

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Speaker 1: Yes, ma'am, I've been busting it on the book.

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Speaker 2: So, ladies and gentlemen, we have that event coming on

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Speaker 2: October fifteenth, Yes, and super excited for that. If you've

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Speaker 2: not tried to get a reservation, do so limited, limited,

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Speaker 2: limited spots. Not many left, but if there's any left,

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Speaker 2: we recommend I will be doing meet the author. Now,

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Speaker 2: ladies and gentlemen, this book has a lot of content,

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Speaker 2: a lot of things need to be reviewed.

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Speaker 1: Obviously, we'll want to make sure.

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Speaker 2: That everything is properly edited, everything is done correctly. There

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Speaker 2: is a five percent chancell we'll have the book in

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Speaker 2: hand at October fifteen, five percent chance, but the ninety

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Speaker 2: five percent chances books won't be there.

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Speaker 1: But you'll be able to get pre orders.

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Speaker 4: Yeah, as we've been taking for the past couple of weeks.

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Speaker 1: That's true. And ladies and gentlemen, if you cannot come.

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Speaker 4: You are gonna have a lot to sign. I will

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Speaker 4: and send out William Kelly.

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Speaker 2: That is true actually, So ladies and gentlemen, if you

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Speaker 2: have not already, I recommend you call us at eighty

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Speaker 2: eight eight hundred eighty one and reserve your free copy.

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Speaker 1: I have to say this book, this book would.

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Speaker 2: I mean, there is a plethora of individuals who helped

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Speaker 2: make this book happen.

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Speaker 1: It wasn't just me, ladies and gentlemen.

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Speaker 2: My editor single handedly has helped me so incredibly much,

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Speaker 2: especially taking the original rough draft and her and I

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Speaker 2: just working at it together.

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Speaker 1: She thinks very similarly to me.

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Speaker 2: She you know not everything, though, I would say she

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Speaker 2: in terms of the investment world, is extremely conservative because,

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Speaker 2: for example, in my book, I'll give a little sneak peek,

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Speaker 2: I say a fatal mistake. One of the worst things

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Speaker 2: that you can do is hold your money and do

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Speaker 2: nothing with it. Right, And I gave the story the

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Speaker 2: biblical story of the talents of the three servants and

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Speaker 2: their master gave them talents which think of them like

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Speaker 2: silver bars for their currency at the time, for her talents.

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Speaker 2: And so he gave each servant a bag of talents.

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Speaker 2: I don't know how much, but just a number of talents.

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Speaker 2: And he said, I'm going away for a while. Be

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Speaker 2: intelligent with these. So the master leaves in the servants.

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Speaker 2: The first one goes to the bank and he invests it.

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Speaker 2: He basically puts it in the bank and it grows interests.

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Speaker 2: The other servant. And I don't want to misquote the Bible,

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Speaker 2: but let's say the other servant decides to start a

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Speaker 2: business or decides to make a profit off those talents

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Speaker 2: by buying a commodity and reselling it or something or

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Speaker 2: building something with it. The third servant buried his talents

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Speaker 2: in the ground, and so the master comes back. And

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Speaker 2: the first servant comes back with a little bit of

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Speaker 2: extra talents because he put it in the bank and

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Speaker 2: it grew an interest, right, and he said, well done,

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Speaker 2: my good and faithful servant, here's your reward. The second

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Speaker 2: one came back with the prophet, well done, my good

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Speaker 2: and faithful servant, blah blah blah, here's your reward. And

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Speaker 2: the third guy, I don't remember what the master said

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Speaker 2: to him, but I'm pretty sure he called him wicked

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Speaker 2: and like despicable, like horrible things because he entrusted him

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Speaker 2: with his money and he did nothing with it. Now,

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Speaker 2: in my opinion, obviously, in modern day banks, even if

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Speaker 2: you put your money in the bank, there's risk, ladies

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Speaker 2: and gentlemen, right, because the bank could collapse no matter

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Speaker 2: what in life, you take a risk even just letting

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Speaker 2: it sit in the bank, even if you only buy

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Speaker 2: CDs that has inherently risk. It's basically zero, but it

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Speaker 2: technically has risk. I'm not trying to scare anybody here,

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Speaker 2: I'm sure just trying to make a point. To literally

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Speaker 2: bury your money in the ground or do something equivalent

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Speaker 2: is a fatal mistake because you are, first off, not

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Speaker 2: growing it. You're getting rid of any potential for that

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Speaker 2: money to do anything. Second off, you're letting fear overcome you.

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Speaker 2: You're letting comfort and fear of just having the money.

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Speaker 1: Sit there overcome you.

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Speaker 2: Any potential of it doing better is gone if you

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Speaker 2: just bury it and do nothing with it. Three, the

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Speaker 2: impact you have on other people could also be fatal,

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Speaker 2: because if you teach your children to invest this way,

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Speaker 2: they're not going to go very far with their money. Unfortunately,

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Speaker 2: they may go far in their jobs and stuff like that,

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Speaker 2: but in terms of managing their money, it's going to

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Speaker 2: be more harmful. Because literally, if you put money in

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Speaker 2: the bank or in the money market, you can make

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Speaker 2: anywhere from like three to five percent on interest.

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Speaker 1: Right, that's technically an investment because.

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Speaker 2: The bank wants to reward you, and you know they

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Speaker 2: also you know they use your money for loans in

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Speaker 2: the back end of things, and so they want to

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Speaker 2: reward you for putting your money into the bank. So

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Speaker 2: by not doing any of that, it's obviously bad. My

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Speaker 2: editor disagrees because she thinks is that wrong for an

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Speaker 2: investor to take zero risk? And it's good that she's

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Speaker 2: asked me these questions because these questions might come up

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Speaker 2: in the reader's mind, right does the investor? What if

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Speaker 2: an investor wants a risk tolerance is zero or has

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Speaker 2: a risk tolerance zero? And then I argue back, that's

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Speaker 2: not an investor because investments have risk. That's known if

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Speaker 2: you ever go to a website and it has to

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Speaker 2: do it's like a broker dealer or something like that,

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Speaker 2: and you see in the disclaimer investments carry risks. So

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Speaker 2: no matter what, you're not an investor if you don't

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Speaker 2: have any risk, and risk it is not bad. In fact,

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Speaker 2: risk is a good thing. It's inherent to human beings. Now,

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Speaker 2: weighing your options your suitability, like if you are seventy

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Speaker 2: years old and you've retired and you have so much

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Speaker 2: money in the bank account and you don't know a

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Speaker 2: lot about investments, your risk tolerance is going to look

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Speaker 2: a lot different than the thirty year old tech wiz

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Speaker 2: who's an accredited investor, who could take a lot more

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Speaker 2: risk and it be fine, and they're you know, reap

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Speaker 2: a bigger reward or tank a bigger loss and as

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Speaker 2: long as it's comfortable with them.

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Speaker 1: Because that thirty year old, you.

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Speaker 2: Know, tech wiz, super successful person that's an accredited investor,

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Speaker 2: they may not be comfortable with risk, right, but they

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Speaker 2: have to take some on. So the fatal mistake is

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Speaker 2: to bury your talents, ladies and gentlemen. Right to do

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Speaker 2: absolutely nothing with your money. Putting it in a CD

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Speaker 2: is not doing absolutely nothing with your money. That's not

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Speaker 2: what the Bible is arguing. The Bible is arguing that

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Speaker 2: people God's creation were made more for greatness than we

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Speaker 2: are for comfort.

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Speaker 1: To settle the comfort is kind of wicked, it's apathy.

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Speaker 1: So that's that's what I was arguing.

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Speaker 2: But thank god that my editor, and I'm going to

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Speaker 2: bring this back to her. Thank God she's asking these

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Speaker 2: questions because I don't know anybody else who would ask

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Speaker 2: questions this deeply right. Maybe my readers when I get

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Speaker 2: the book out, but I need an editor who is

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Speaker 2: able to challenge me but also thinks on the same

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Speaker 2: field that I do, because she also agrees she loves

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Speaker 2: the same investors that I look up to, like Peter

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Speaker 2: Lynch and Warren Buffett and John C.

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Speaker 1: Bogel.

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Speaker 2: These are three incredible investors that I look up to

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Speaker 2: and that actually influence writing this book.

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Speaker 1: You know what I mean.

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Speaker 2: It's been eight months, ladies and gentlemen, huge work in progress.

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Speaker 1: I have so many contributors.

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Speaker 2: If you're a fan of Jeff Coooner, he's on there.

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Speaker 2: There is unheard of information about him. There's unheard of

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Speaker 2: information about my mom, my sister, some of the advisors

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Speaker 2: at Kelly Financial too. I have entrepreneurs, wickedly successful entrepreneurs

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Speaker 2: on there. I have wickedly successful real estate agents and

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Speaker 2: moguls and investors. I just have a whole crowd, diverse

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Speaker 2: crowd of successful people.

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Speaker 1: And their own right as contributors.

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Speaker 2: I answer questions from people from you know, in my

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Speaker 2: age group, and I have a culmination of people who

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Speaker 2: are around like eighteen to twenty eight with various financial

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Speaker 2: questions that I am myself on there, and then I

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Speaker 2: give basically a crash course on financial literacy and investment literacy.

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Speaker 1: It'll probably come out.

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Speaker 2: In October November, Ladies and gentlemen, I'm so excited.

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Speaker 1: I am too.

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Speaker 4: William, congratulations and thank you for focusing on your.

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Speaker 1: Book, My Pleasure. Thank you for having me.

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Speaker 4: Do keep us on your dial. We've got a lot

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Speaker 4: of great content coming your way. Mike do St and

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Speaker 4: Greg Workman will break down the latest market moves and

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Speaker 4: explain how the new, Big, Beautiful Bill could change the

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Speaker 4: financial outlook for retirees and families alike. Mary, Madeline Kelly

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Speaker 4: and Greg Murray will take a closer look at the

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Speaker 4: retirement income gap, what it is, why it matters, and

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Speaker 4: the smart strategies that can help make your money last.

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Speaker 4: I will be back with William and we will highlight

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Speaker 4: the unique challenges women face and retirement and share strategies

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Speaker 4: that helping share lasting financial security and independence. And of

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Speaker 4: course we'll close the hour with some win and wisdom

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Speaker 4: from the late Bill Kelly. His words continue to inspire

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Speaker 4: and guide us. That's a wrap for forever, young Thank

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Speaker 4: you for listening, and William, thank you for joining me.

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Speaker 4: We'll be back with more content. I love you, Honey,

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Speaker 4: I love you to you mom.

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Speaker 5: Okay, my friends, let me tell you about Kelly Financial Services.

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Speaker 5: What would you do if your boss called you in

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Speaker 5: tomorrow and said you're done, sayonara, no more paycheck. For

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Speaker 5: many Americans in their fifties and sixties, that's not a hypothetical. Layoffs, buyouts,

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Speaker 5: early retirements. They're happening every single day, and if you're

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Speaker 5: not prepared, it can be devastating. That's why Kelly Financial

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Speaker 5: created the ten step Layoff Survival Guide. It's simple, clear

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Speaker 5: and practical. It shows you how to figure out you're

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Speaker 5: living in expences, evaluate a severance package, protect healthcare coverage,

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Speaker 5: and make smart choices about social security and retirement accounts.

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Speaker 5: So if you are someone you care about is facing

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Speaker 5: a layoff or even considering early retirement, you don't have

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Speaker 5: to go through it alone. Call Kelly Financial right now

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Speaker 5: eight eight eight eight hundred eighteen eighty one eight eight

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Speaker 5: eight eight hundred eighteen eighty one get your free copy today,

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Speaker 5: or email Kelly at Kellyfinancial dot org. Kelly at Kelly

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Speaker 5: Financial dot org.

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Speaker 6: Hello, I'm Mike, you said, Chief Operating officer at Kelly

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Speaker 6: Financial Services. You are listening to Kelly Financial safe money

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Speaker 6: strategies where we believe your financial future.

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Speaker 1: Should be built on wisdom, not anxiety.

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Speaker 6: Today I am joined by one of the trusted investment

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Speaker 6: advisors on our team, Greg Workman.

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Speaker 1: Good morning.

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Speaker 7: We're here every week to help you make smarter, safer

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Speaker 7: financial choices without the confusing industry jargon and without the stress.

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Speaker 1: We have an exciting show for you today.

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Speaker 6: Markets have gained some serious ground since the April downturn.

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Speaker 6: In the first half of the show, we'll share the

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Speaker 6: trades we're making across our client portfolios to take advantage

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Speaker 6: of this momentum, and you won't want to miss the

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Speaker 6: second half of the broadcast, where we'll discuss how the

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Speaker 6: big beautiful bill ushers in significant changes for most taxpayers.

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Speaker 6: Will cover the moves you can make today to take

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Speaker 6: advantage of them. Let's dive in twenty twenty five has

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Speaker 6: been a wild ride for the markets. Greg, take us

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Speaker 6: back to the first half of the year and how

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Speaker 6: we got to the very positive situation where in today,

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Speaker 6: where markets seem to be on quite a run.

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Speaker 7: The S and P five hundred was off to a

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Speaker 7: hot start with the Bell Weather Index hitting an all

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Speaker 7: time high in February. Then April surprised with a violent

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Speaker 7: market sellof caused by the introduction of sweeping turiffs, which

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Speaker 7: triggered fears of a global trade war, slowing economic growth

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Speaker 7: and increased market volatility.

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Speaker 6: Escalating trade tensions with China, broader economic uncertainty, and growing

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Speaker 6: pressure on the Federal Reserve to cut interest rates further

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Speaker 6: intensified the market's decline, leading to a significant drop in

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Speaker 6: stock indexes and a decline in investor confidence.

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Speaker 1: Hard to believe.

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Speaker 7: Now, but at that point the market was down twenty percent.

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Speaker 6: It is hard to believe considering since the low point,

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Speaker 6: the markets has hit new all time highs on multiple occasions,

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Speaker 6: including mid September where the market set records for two

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Speaker 6: consecutive days, along with the DIO and NASDAC logging its

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Speaker 6: third consecutive weekly gains.

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Speaker 7: These record setting rallies have been driven by factors such

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Speaker 7: as positive developments in the US China trade talks, continued

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Speaker 7: strength in Magnificent seven tech stocks, and hopes for a

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Speaker 7: more aggressive interest rate cut schedule from the Federal Reserve.

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Speaker 6: Over seventeen hundred clients from the New England area and

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Speaker 6: beyond trust Kelly Financial to manage their money. They trust

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Speaker 6: our people and our investment process. GREG outline that process

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Speaker 6: for our listeners.

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Speaker 7: Our investment process starts with a long term strategy. We

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Speaker 7: select appropriate investment vehicles based on their quality and cost efficiency.

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Speaker 7: Then we adapt to changing market conditions using a disciplined,

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Speaker 7: tactical approach that seeks to maximize upside opportunity and downside protection.

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Speaker 7: On average, our trade frequency is four to six times

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Speaker 7: per year.

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Speaker 1: That is a great segue what trades are we making

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Speaker 1: today and why.

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Speaker 7: In our latest round of trades we added to the

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Speaker 7: percentage of equities and now we're overweight, which reflects the

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Speaker 7: friendlier policy backdrop and favorable macroeconomic environment.

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Speaker 1: I know AI is a part of that growth story.

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Speaker 1: Elaborate on that if you will.

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Speaker 7: Within equities, we continue to view artificial intelligence as a

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Speaker 7: defensive hedge as much as a growth catalyst. With demand

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Speaker 7: for high performance computing infrastructure expected to nearly double annually,

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Speaker 7: we expect generative AI to compound into a force that

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Speaker 7: reshapes entire industries and the markets.

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Speaker 6: The AI trend is very, very powerful. Comparable to the

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Speaker 6: dawn of the Internet. AI is a game changer.

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Speaker 7: We are very confident that our exposure to the pick

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Speaker 7: and shovel plays of the next industrial revolution will pay

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Speaker 7: off for our clients in twenty twenty five and well beyond.

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Speaker 1: Can you highlight one of the investments we've made. One

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Speaker 1: of the.

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Speaker 7: AI dedicated pure play exchange traded funds that we purchased

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Speaker 7: earlier this year is the I Shares AI Innovation and

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Speaker 7: Tech Active Fund. The ticker symbol is BAI. The fund

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Speaker 7: is a two point five billion dollar fund that is

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Speaker 7: pacing at a twenty nine percent plus rate of return

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Speaker 7: as of late September.

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Speaker 6: In Q two, approximately eighty two percent of the S

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Speaker 6: and P five hundred companies beat the earnings expectations compared

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Speaker 6: to a historical rate of only sixty percent. Are we

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Speaker 6: leaning more heavily into US equities versus international exposure as

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Speaker 6: a result, Yes.

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Speaker 1: We are.

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Speaker 7: While international markets got off to a hot start, tariff

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Speaker 7: concerns have cooled that trend. We're comfortable leaning into the

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Speaker 7: strong earnings trend in the S and P five hundred

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Speaker 7: that you just mentioned, Mike, especially when we see that

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Speaker 7: in the trailing twelve months since the second quarter, the

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Speaker 7: US has outperformed its international counterparts in price return.

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Speaker 6: We speak with our clients on the investment side of

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Speaker 6: our business quarterly to ensure that we make informed decisions

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Speaker 6: stay on track and navigate market changes with confidence and

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Speaker 6: peace of mind.

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Speaker 1: Thank you for pulling back to curtain, Greg.

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Speaker 6: I know our clients appreciate the transparency and insight into

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Speaker 6: our investment process and the trades we're making today to

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Speaker 6: take full advantage of today's market trends.

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Speaker 1: Let's pause here for a break. When we return the

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Speaker 1: Big Beautiful Bill.

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Speaker 6: It was signed into law in July, and the legislation

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Speaker 6: can have significant changes for most taxpayers. When we return,

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Speaker 6: we'll talk about moves you can make today to take

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Speaker 6: advantage of them, So stay tuned.

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

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

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

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

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

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

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

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

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Speaker 4: Kelly Financial. Come retire with us.

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

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Speaker 3: Mary Madeline Kelly.

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Speaker 6: Oh.

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Speaker 8: This is Greg Murray's senior vice president Dan, chief Compliance

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Speaker 8: officer at Kelly Financial Services. Joining me today is Mary

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Speaker 8: Metal and Kelly, one of our wealth advisors.

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Speaker 9: How are you doing today, Hi, Greg, I am doing great.

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Speaker 9: Thanks for asking. Things have been a little hectic in

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Speaker 9: the Kelly household with the new member of the family.

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Speaker 9: Melly is growing like a weed and recently had her

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Speaker 9: twelve week checkup and fortunately she is very healthy.

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Speaker 8: That's awesome to hear. I really enjoyed having her here

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Speaker 8: in the office with us the other day. It was

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Speaker 8: a lot of fun watching or run up and down

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Speaker 8: the hallways chasing everyone and everything.

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Speaker 10: She's the best. I am so lucky to have her.

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Speaker 9: And today we're tackling a really important topic for anyone

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Speaker 9: thinking about retirement, the retirement income gap. But it is

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Speaker 9: why it matters, and most importantly, how you can make

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Speaker 9: your money last.

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Speaker 1: That's right.

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Speaker 8: The retirement income gap is simply the difference between the

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Speaker 8: money you'll actually need each year in retirement and the

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Speaker 8: guaranteed money you'll have coming in things like Social Security

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Speaker 8: pensions if you have one, maybe even rental income exactly.

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Speaker 9: Let's say you need six thousand dollars a month to

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Speaker 9: cover your expenses comfortably in retirement, but between social Security

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Speaker 9: and a small pension, you're only bringing in four thousand dollars.

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Speaker 9: That two thousand dollars difference. That's the gap, and that's

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Speaker 9: where planning becomes crucial.

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Speaker 8: And here's where people get caught off guard. They think,

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Speaker 8: I have a nice nest egg, I'll just draw from that.

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Speaker 8: But without a strategy, it's easy to overspend early on

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Speaker 8: and run out of money later. Retirement isn't just a

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Speaker 8: five year plan. It could last twenty five or even

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Speaker 8: thirty years.

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Speaker 9: That's right, and the challenge is that expenses don't always

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Speaker 9: stay the same. Healthcare costs can rise, inflation eats away

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Speaker 9: at purchasing power, and unexpected events like helping family members

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Speaker 9: or a major home repair that can throw off the budget.

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Speaker 1: So the big question is how do you make your

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Speaker 1: money last.

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Speaker 8: One of the first steps is figuring out what's guaranteed

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Speaker 8: and what's not. Social Security is guaranteed. A pension if

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Speaker 8: you have one, is also guaranteed. But which are aws

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Speaker 8: from your four to one k or ira depend on

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Speaker 8: the market and how much you take out.

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Speaker 9: And that's where smart planning comes in from any of

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Speaker 9: our clients.

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Speaker 10: We look at creating a.

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Speaker 9: Reliable paycheck in retirement by combining guaranteed income sources with

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Speaker 9: other investments. That might mean using annuities for steady payments,

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Speaker 9: or bonds and dividend stocks for more predictable cash flow.

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Speaker 8: And let's not forget about timing the age you start

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Speaker 8: taking Social Security makes a difference. Waiting until full retirement

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Speaker 8: ag or even age seventy can increase your monthly check,

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Speaker 8: which can shrink the income gap before you even touch

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Speaker 8: your savings.

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Speaker 9: Another strategy is managing withdrawals carefully. A common rule of

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Speaker 9: thumb is the four percent rule, where you take out

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Speaker 9: four percent of your portfolio each year, but we always

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Speaker 9: remind people it's just a guideline. Depending on the market,

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Speaker 9: your health, and your lifestyle, you may need a more

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Speaker 9: personalized approach.

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Speaker 8: Absolutely, And let's talk about inflation for a moment. If

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Speaker 8: you retire at sixty five and your expenses might look

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Speaker 8: manageable today, but in twenty years, groceries, utilities, medical care

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Speaker 8: can cost much much more. So part of closing the

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Speaker 8: income gap is making sure your investments grow enough to

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Speaker 8: keep up with the inflation.

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Speaker 9: That's why we often recommend a balance. You need some

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Speaker 9: investments for growth even in retirement, alongside the more conservative

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Speaker 9: income producing assets. It's about striking the right mix so

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Speaker 9: your money lasts.

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Speaker 8: And here's the key takeaway for our listeners. The retirement

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00:23:12,359 --> 00:23:14,879
Speaker 8: income gap isn't something to be afraid of, it's something

444
00:23:14,880 --> 00:23:17,439
Speaker 8: to plan for. Once you identify what your gap is,

445
00:23:17,520 --> 00:23:19,600
Speaker 8: you can start filling it with strategy that makes sense

446
00:23:19,640 --> 00:23:20,880
Speaker 8: for your life exactly.

447
00:23:21,000 --> 00:23:22,920
Speaker 10: And that's what we do here at Kelly Financial.

448
00:23:23,119 --> 00:23:25,760
Speaker 9: We sit down with clients, look at their income sources,

449
00:23:25,840 --> 00:23:28,879
Speaker 9: their expenses, their goals, and then design a plan to

450
00:23:28,960 --> 00:23:32,200
Speaker 9: cover that gap in a way that feels secure and sustainable.

451
00:23:32,359 --> 00:23:34,639
Speaker 8: Because at the end of the day, retirement should be

452
00:23:34,680 --> 00:23:37,320
Speaker 8: about enjoying life, not worrying if your money will run out.

453
00:23:37,359 --> 00:23:39,159
Speaker 8: But the right plan you can close that gap and

454
00:23:39,200 --> 00:23:40,399
Speaker 8: have confidence in your future.

455
00:23:40,520 --> 00:23:41,320
Speaker 10: Well said Greg.

456
00:23:41,480 --> 00:23:43,240
Speaker 1: That's going to wrap up this segment today.

457
00:23:43,320 --> 00:23:46,000
Speaker 8: If you'd like to learn more about your own retirement

458
00:23:46,080 --> 00:23:48,160
Speaker 8: income gap and how to make your money last, give

459
00:23:48,200 --> 00:23:48,600
Speaker 8: us a call.

460
00:23:48,680 --> 00:23:49,400
Speaker 1: We'd be happy to.

461
00:23:49,359 --> 00:23:52,760
Speaker 10: Help absolutely well. Greg, thanks for your time and have

462
00:23:52,840 --> 00:23:53,680
Speaker 10: a great weekend.

463
00:23:53,840 --> 00:23:57,080
Speaker 3: To get in touch with Greg Murray or Mary, Madeline Kelly,

464
00:23:57,400 --> 00:24:00,720
Speaker 3: or any member of the Kelly Financial team call at

465
00:24:01,000 --> 00:24:02,639
Speaker 3: eight eight hundred.

466
00:24:02,560 --> 00:24:03,920
Speaker 1: Eighteen eighty one.

467
00:24:05,520 --> 00:24:10,040
Speaker 3: Safe Money Strategies with William Kelly and Kelly Kelly. Call

468
00:24:10,119 --> 00:24:14,080
Speaker 3: the team on at eight eight hundreds eighteen eighty one.

469
00:24:14,640 --> 00:24:19,399
Speaker 2: Okay, care, Welcome to Safe Money Strategies.

470
00:24:19,480 --> 00:24:21,800
Speaker 1: If you're just tuning in, I'm William Kelly Junior.

471
00:24:21,960 --> 00:24:24,400
Speaker 2: Every Saturday, my mom and I sit together to bring

472
00:24:24,440 --> 00:24:28,040
Speaker 2: you insights, real talk and practical strategies about retirement and

473
00:24:28,080 --> 00:24:31,359
Speaker 2: personal finance. We come to you from Kelly Financial Services,

474
00:24:31,600 --> 00:24:35,520
Speaker 2: where we believe in two powerful principles, family values combined

475
00:24:35,560 --> 00:24:36,840
Speaker 2: with financial knowledge.

476
00:24:37,080 --> 00:24:41,119
Speaker 4: That's right. I'm Kelly Kelly, CEO of Kelly Financial and

477
00:24:41,200 --> 00:24:43,199
Speaker 4: it is always a joy to be here with you

478
00:24:43,400 --> 00:24:47,320
Speaker 4: every Saturday. Each week we talk about the real issues

479
00:24:47,359 --> 00:24:51,560
Speaker 4: that impact your financial wellbeing. Our goal on this show

480
00:24:51,600 --> 00:24:55,439
Speaker 4: has always been to simplify what can feel overwhelming and

481
00:24:55,480 --> 00:25:00,000
Speaker 4: give you clear, practical strategies that you can actually use

482
00:25:00,080 --> 00:25:03,640
Speaker 4: using your own life. And today we're shining a light

483
00:25:03,800 --> 00:25:07,919
Speaker 4: on something very close to my heart. Women in retirement.

484
00:25:08,600 --> 00:25:13,520
Speaker 4: Women face unique challenges in retirement that cannot be ignored.

485
00:25:14,080 --> 00:25:18,280
Speaker 4: Women on average, live longer than men they often earn

486
00:25:18,400 --> 00:25:22,359
Speaker 4: less over their lifetimes. Many step away from the workforce

487
00:25:22,440 --> 00:25:27,159
Speaker 4: to care for children, grandchildren, or aging parents. All of

488
00:25:27,200 --> 00:25:31,320
Speaker 4: these realities mean retirement planning for women needs to be

489
00:25:31,359 --> 00:25:35,960
Speaker 4: more intentional, more strategic, and tailored to their lives.

490
00:25:36,400 --> 00:25:39,160
Speaker 2: On average, women live about five years longer than men.

491
00:25:39,480 --> 00:25:42,120
Speaker 2: At first glance, five years may not sound like a lot,

492
00:25:42,160 --> 00:25:47,240
Speaker 2: but think about it. That's five additional years of housing, food, healthcare,

493
00:25:47,359 --> 00:25:50,359
Speaker 2: and everyday expenses. And when you add in the impact

494
00:25:50,440 --> 00:25:53,280
Speaker 2: of inflation over those years, it becomes one of the

495
00:25:53,280 --> 00:25:56,240
Speaker 2: biggest financial challenges women can face in retirement.

496
00:25:56,600 --> 00:26:01,080
Speaker 4: That's exactly right, William, and healthcare is a big part

497
00:26:01,119 --> 00:26:06,199
Speaker 4: of that. Statistically, women spend more on healthcare and retirement

498
00:26:06,320 --> 00:26:10,119
Speaker 4: than men do. Medicare helps, of course, but it doesn't

499
00:26:10,119 --> 00:26:15,440
Speaker 4: cover everything. Prescriptions, home health aids, long term care. All

500
00:26:15,480 --> 00:26:18,680
Speaker 4: of those are real costs that can add up quickly.

501
00:26:19,240 --> 00:26:23,000
Speaker 4: Without planning, what should be a blessing longer life can

502
00:26:23,040 --> 00:26:27,560
Speaker 4: turn into a financial burden. That's why starting early, even

503
00:26:27,640 --> 00:26:31,119
Speaker 4: with honest contributions, is so powerful.

504
00:26:31,600 --> 00:26:34,600
Speaker 2: Another challenge is the wage gap. Women still are less

505
00:26:34,600 --> 00:26:38,240
Speaker 2: on average, but that translates into smaller retirement contributions and

506
00:26:38,480 --> 00:26:42,840
Speaker 2: smaller social Security checks over a lifetime, That difference compounds

507
00:26:42,880 --> 00:26:46,480
Speaker 2: into real shortfall when it comes to retirement income and when.

508
00:26:46,320 --> 00:26:50,200
Speaker 4: You layer on time away from the workforce, raising children,

509
00:26:50,400 --> 00:26:55,200
Speaker 4: helping grandchildren, or caring for parents, women often have fewer

510
00:26:55,320 --> 00:27:00,600
Speaker 4: years of saving and investing. That means every single dollar counts.

511
00:27:01,000 --> 00:27:05,359
Speaker 4: Women need to be intentional about maximizing earnings when they can,

512
00:27:05,920 --> 00:27:11,080
Speaker 4: negotiating for fair pay, and taking advantage of retirement plans

513
00:27:11,200 --> 00:27:15,280
Speaker 4: and employer matches. Those steps, even if they feel small

514
00:27:15,359 --> 00:27:17,840
Speaker 4: at the time, make a big difference later.

515
00:27:18,200 --> 00:27:21,200
Speaker 2: Social Security is another area where women need to think

516
00:27:21,240 --> 00:27:25,000
Speaker 2: carefully and critically. Because benefits are often lower, women should

517
00:27:25,000 --> 00:27:28,680
Speaker 2: be especially strategic about when to claim. Waiting until full

518
00:27:28,760 --> 00:27:31,679
Speaker 2: retirement age or even delaying to age seventy, can mean

519
00:27:31,800 --> 00:27:34,800
Speaker 2: significantly larger checks for the rest of your life. That

520
00:27:34,960 --> 00:27:37,920
Speaker 2: timing decision is one of the most important ones women make,

521
00:27:37,960 --> 00:27:39,360
Speaker 2: and retirement planning.

522
00:27:39,320 --> 00:27:43,679
Speaker 4: Risk tolerance is also worth talking about. Studies show women

523
00:27:43,840 --> 00:27:47,679
Speaker 4: tend to be more conservative investors. There's a strength in

524
00:27:47,720 --> 00:27:51,640
Speaker 4: that because it often helps avoid big losses, but being

525
00:27:51,680 --> 00:27:55,479
Speaker 4: too cautious can also hold you back. Without some growth,

526
00:27:55,600 --> 00:27:59,440
Speaker 4: retirement savings may not keep pace with inflation, and when

527
00:27:59,480 --> 00:28:01,840
Speaker 4: you live longer, that's a real concern.

528
00:28:02,280 --> 00:28:03,800
Speaker 1: The key is balanced.

529
00:28:04,400 --> 00:28:07,520
Speaker 2: You don't want to take unnecessary risks, but you also

530
00:28:07,600 --> 00:28:10,320
Speaker 2: can't afford to let your money sit idle. Growth is

531
00:28:10,400 --> 00:28:14,080
Speaker 2: what provides income for longer retirements. Finding the right mix

532
00:28:14,119 --> 00:28:17,320
Speaker 2: of protection and growth is what creates confidence over time.

533
00:28:17,760 --> 00:28:20,159
Speaker 4: And then there's the family side of all of this.

534
00:28:20,800 --> 00:28:24,560
Speaker 4: Women are so often the caregivers, the ones who put

535
00:28:24,800 --> 00:28:30,680
Speaker 4: everyone else first, whether it's children, grandchildren, or aging parents.

536
00:28:31,119 --> 00:28:34,880
Speaker 4: That devotion is admirable, but it often means their own

537
00:28:34,960 --> 00:28:38,200
Speaker 4: retirement planning gets delayed or overlooked.

538
00:28:38,720 --> 00:28:41,400
Speaker 2: That's why we like to remind families that retirement planning

539
00:28:41,480 --> 00:28:45,680
Speaker 2: isn't just an individual task, it's a family conversation. When

540
00:28:45,720 --> 00:28:51,560
Speaker 2: families openly talk about money and values, it makes everyone stronger, parents, grandparents' children.

541
00:28:51,880 --> 00:28:55,000
Speaker 1: When that knowledge is shared, everyone benefits.

542
00:28:54,760 --> 00:28:58,479
Speaker 4: And no one has to navigate this alone. Working with

543
00:28:58,640 --> 00:29:02,120
Speaker 4: a trusted financial life advisor can make all the difference.

544
00:29:02,800 --> 00:29:06,520
Speaker 4: At Kelly Financial, our team works every day with women

545
00:29:06,640 --> 00:29:10,440
Speaker 4: who want to feel more confident about their financial futures.

546
00:29:10,560 --> 00:29:15,000
Speaker 4: We listen, we ask questions, and we build strategies that

547
00:29:15,080 --> 00:29:17,400
Speaker 4: reflect real life circumstances.

548
00:29:17,760 --> 00:29:21,560
Speaker 2: Women's retirement planning isn't one size fits all. It deserves

549
00:29:21,560 --> 00:29:25,240
Speaker 2: a strategy of its own, one that accounts for longer lifespans,

550
00:29:25,320 --> 00:29:28,360
Speaker 2: different earning histories, and the caregiving roles so many women

551
00:29:28,400 --> 00:29:28,720
Speaker 2: take on.

552
00:29:29,160 --> 00:29:32,520
Speaker 4: And that's why we created a special resource for our

553
00:29:32,600 --> 00:29:37,800
Speaker 4: listeners is called ten Tips to Empower Women Investors. This

554
00:29:37,920 --> 00:29:41,680
Speaker 4: free investor guide is designed to help women take control

555
00:29:41,760 --> 00:29:46,160
Speaker 4: of their retirement journey. It covers everything from keeping money

556
00:29:46,240 --> 00:29:49,520
Speaker 4: in your own name, to building back up plans to

557
00:29:49,640 --> 00:29:52,760
Speaker 4: making sure your family's future is protected.

558
00:29:53,360 --> 00:29:56,240
Speaker 2: The guide is practical, it's empowering, and it's written with

559
00:29:56,360 --> 00:30:00,240
Speaker 2: women's realities and minds. Even small changes today can lead

560
00:30:00,240 --> 00:30:03,920
Speaker 2: to greater independence tomorrow. So don't wait to request your

561
00:30:03,920 --> 00:30:07,040
Speaker 2: free copy and schedule a complimentary consultation with our team.

562
00:30:07,440 --> 00:30:09,560
Speaker 2: Just call eighty eight eight hundred and one eighty one

563
00:30:09,760 --> 00:30:12,040
Speaker 2: or email Kelly at Kelly Financial dot org.

564
00:30:12,320 --> 00:30:16,160
Speaker 4: We're just getting started and there's more to come. I'm

565
00:30:16,280 --> 00:30:17,440
Speaker 4: Kelly Kelly.

566
00:30:17,360 --> 00:30:19,680
Speaker 2: And I'm William Kelly Junior. And you're listening to save

567
00:30:19,800 --> 00:30:20,600
Speaker 2: money strategies.

568
00:30:20,800 --> 00:30:21,520
Speaker 1: Stay with us.

569
00:30:24,440 --> 00:30:28,560
Speaker 3: Safe money strategies brought to you by Kelly Financial Services.

570
00:30:28,720 --> 00:30:32,480
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

571
00:30:32,560 --> 00:30:34,520
Speaker 3: visit Kellyfinancial dot org.

572
00:30:35,080 --> 00:30:39,040
Speaker 11: Ready to enjoy your golden years without worry. At Kelly Financial,

573
00:30:39,160 --> 00:30:42,440
Speaker 11: we know retirement planning can be overwhelming. With more than

574
00:30:42,520 --> 00:30:46,240
Speaker 11: twenty two years of experience, our friendly team of advisors

575
00:30:46,280 --> 00:30:49,480
Speaker 11: makes it easy and stress free. Trust us to help

576
00:30:49,520 --> 00:30:53,040
Speaker 11: you create a secure and enjoyable future. For a free

577
00:30:53,040 --> 00:30:57,320
Speaker 11: initial retirement consultation called eight eight eight eight hundred, eighteen

578
00:30:57,400 --> 00:31:01,120
Speaker 11: eighty one or email Kelly at Kelly fane Financial dot org.

579
00:31:01,360 --> 00:31:03,800
Speaker 11: We're Kelly Financial. Come retire with.

580
00:31:03,720 --> 00:31:08,640
Speaker 3: Us Safe money strategies with William Kelly and Kelly Kelly.

581
00:31:08,880 --> 00:31:13,160
Speaker 3: Call the team on a eight eight hundreds eighteen eighty one,

582
00:31:13,800 --> 00:31:17,600
Speaker 3: Take care, Welcome back.

583
00:31:17,520 --> 00:31:19,680
Speaker 1: To save money Strategies. I'm here with my mom, m

584
00:31:19,840 --> 00:31:20,840
Speaker 1: Kelly Kelly and.

585
00:31:20,800 --> 00:31:23,720
Speaker 2: Before the break we started talking about the unique challenges

586
00:31:23,760 --> 00:31:26,200
Speaker 2: women face and retirement and now we want to take

587
00:31:26,200 --> 00:31:28,920
Speaker 2: a closer look at some practical steps that's right.

588
00:31:29,320 --> 00:31:33,280
Speaker 4: Retirement for women isn't just about the numbers. It's about

589
00:31:33,320 --> 00:31:38,280
Speaker 4: building confidence, preparing for the unexpected, and making sure the

590
00:31:38,360 --> 00:31:42,440
Speaker 4: plan reflects your life. And the truth is women often

591
00:31:42,480 --> 00:31:45,400
Speaker 4: face a very different retirement journey than men.

592
00:31:45,840 --> 00:31:49,040
Speaker 2: Absolutely, women live longer on average, and many times they

593
00:31:49,040 --> 00:31:51,120
Speaker 2: step out of the workforce to care for children or

594
00:31:51,160 --> 00:31:54,560
Speaker 2: aging parents. That means fewer years of income and Social

595
00:31:54,560 --> 00:31:57,680
Speaker 2: Security credits, but the same or even greater financial needs

596
00:31:57,720 --> 00:31:59,280
Speaker 2: and retirement exactly.

597
00:31:59,680 --> 00:32:02,840
Speaker 4: That's why that's why we created our free investor guide

598
00:32:03,240 --> 00:32:07,440
Speaker 4: Ten Tips to empower Women investors, and this morning we're

599
00:32:07,480 --> 00:32:11,080
Speaker 4: going to walk through some of those tips, practical steps

600
00:32:11,120 --> 00:32:15,360
Speaker 4: that women can use right now to strengthen their retirement plans.

601
00:32:16,040 --> 00:32:18,240
Speaker 2: Let's start with one that sounds simple but makes a

602
00:32:18,320 --> 00:32:19,120
Speaker 2: huge difference.

603
00:32:19,440 --> 00:32:21,000
Speaker 1: Keeping money in your own name.

604
00:32:21,520 --> 00:32:26,680
Speaker 4: Yes, whether you're married, divorced, widowed, or single, it's so

605
00:32:26,840 --> 00:32:31,080
Speaker 4: important to have accounts in your name. Life can change

606
00:32:31,120 --> 00:32:36,880
Speaker 4: suddenly illness, job loss, or the loss of a spouse. Honestly,

607
00:32:37,000 --> 00:32:39,520
Speaker 4: I've met too many women who didn't even know what

608
00:32:39,600 --> 00:32:42,360
Speaker 4: accounts existed until something happened.

609
00:32:42,760 --> 00:32:45,600
Speaker 2: And keeping an account and your name isn't about distrust,

610
00:32:45,760 --> 00:32:48,840
Speaker 2: It's about protection. It gives you a measure of independence

611
00:32:48,880 --> 00:32:51,000
Speaker 2: and security no matter what happens.

612
00:32:51,200 --> 00:32:57,200
Speaker 4: Another key step is confronting financial fears. Money can feel intimidating,

613
00:32:57,720 --> 00:33:00,760
Speaker 4: markets go up and down, the news is full of

614
00:33:00,800 --> 00:33:05,320
Speaker 4: scary headlines, and the jargon can be overwhelming, but at

615
00:33:05,360 --> 00:33:08,480
Speaker 4: the end of the day, money is just a tool.

616
00:33:08,760 --> 00:33:11,719
Speaker 4: Once you understand how it works, you can use it

617
00:33:11,800 --> 00:33:14,080
Speaker 4: to build the life you want.

618
00:33:14,320 --> 00:33:16,320
Speaker 1: And it's so important to share decisions.

619
00:33:16,720 --> 00:33:19,640
Speaker 2: If only one partner handles the finances, the other can

620
00:33:19,680 --> 00:33:22,800
Speaker 2: be left in the dark. But when both people are engaged,

621
00:33:22,840 --> 00:33:26,360
Speaker 2: the family is stronger and more resilient. If something happens,

622
00:33:26,520 --> 00:33:28,680
Speaker 2: there's no chaos, just continuity.

623
00:33:29,000 --> 00:33:33,640
Speaker 4: That is right. Avoiding conversations about money does not make

624
00:33:33,680 --> 00:33:39,800
Speaker 4: the problems go away. Facing them together creates confidence and stability.

625
00:33:40,240 --> 00:33:43,040
Speaker 2: One of my favorite principles is this pay yourself first.

626
00:33:43,160 --> 00:33:45,680
Speaker 2: Treat savings like a bill that must be paid.

627
00:33:45,600 --> 00:33:49,840
Speaker 4: And don't rely on willpower make it automatic. Even modest

628
00:33:49,880 --> 00:33:54,320
Speaker 4: contributions into a retirement account or savings plan can add

629
00:33:54,440 --> 00:33:58,760
Speaker 4: up to a meaningful nestag over time. The earlier you start,

630
00:33:58,920 --> 00:34:01,320
Speaker 4: the more powerful that habit becomes.

631
00:34:01,840 --> 00:34:03,640
Speaker 2: And think about it this way. If you don't put

632
00:34:03,680 --> 00:34:07,320
Speaker 2: yourself first financially, who will. Retirement security doesn't just happen,

633
00:34:07,680 --> 00:34:09,200
Speaker 2: It's built step by step.

634
00:34:09,400 --> 00:34:13,680
Speaker 4: Another tip is staying organized. That means knowing where your

635
00:34:13,719 --> 00:34:19,399
Speaker 4: accounts are, keeping important documents like wills and healthcare directives

636
00:34:19,480 --> 00:34:23,160
Speaker 4: in one place and making sure someone you trust knows

637
00:34:23,200 --> 00:34:24,080
Speaker 4: how to find them.

638
00:34:24,360 --> 00:34:26,440
Speaker 2: I think a lot of people assume, oh, I'll remember,

639
00:34:26,560 --> 00:34:30,239
Speaker 2: or my spouse knows, But when something unexpected happens, not

640
00:34:30,320 --> 00:34:34,600
Speaker 2: having documents organized makes a stressful situation even harder.

641
00:34:35,000 --> 00:34:39,239
Speaker 4: Exactly organization is peace of mind is not enough to

642
00:34:39,440 --> 00:34:42,040
Speaker 4: know you have an account. You need to know where

643
00:34:42,040 --> 00:34:45,240
Speaker 4: it is, how it works, and what role it plays

644
00:34:45,360 --> 00:34:46,080
Speaker 4: in your plan.

645
00:34:46,800 --> 00:34:50,880
Speaker 1: Another critical step is choosing advisors wisely.

646
00:34:50,840 --> 00:34:54,759
Speaker 4: Yes, and this is a big one. Every woman deserves

647
00:34:54,840 --> 00:34:59,200
Speaker 4: an advisor who listens, who educates, and who respects her.

648
00:35:00,000 --> 00:35:03,560
Speaker 4: Do you ever feel dismissed or talk down to That's

649
00:35:03,600 --> 00:35:04,440
Speaker 4: a red flag.

650
00:35:04,920 --> 00:35:09,279
Speaker 2: At Kelly Financial, we always say listening comes first. The

651
00:35:09,400 --> 00:35:13,160
Speaker 2: numbers matter, but the story behind those numbers matters just

652
00:35:13,200 --> 00:35:13,720
Speaker 2: as much.

653
00:35:14,200 --> 00:35:17,200
Speaker 4: That's how trust is built. And once you find the

654
00:35:17,280 --> 00:35:19,960
Speaker 4: right advisor, put your plan in. Writing.

655
00:35:20,360 --> 00:35:23,600
Speaker 2: A written plan is more than paperwork. It's a roadmap.

656
00:35:24,000 --> 00:35:30,080
Speaker 4: Life changes happen, divorce, widowhood, career shifts. They're part of

657
00:35:30,120 --> 00:35:33,439
Speaker 4: the journey. But when you have a written plan, you're

658
00:35:33,560 --> 00:35:38,120
Speaker 4: not starting over from scratch. You're simply adjusting the roadmap

659
00:35:38,360 --> 00:35:40,960
Speaker 4: that gives you clarity and confidence.

660
00:35:41,280 --> 00:35:44,760
Speaker 2: And when life doesn't go as expected, every woman needs

661
00:35:44,760 --> 00:35:46,880
Speaker 2: a backup plan that's correct.

662
00:35:46,960 --> 00:35:49,960
Speaker 4: A backup plan could be as simple as having an

663
00:35:49,960 --> 00:35:54,520
Speaker 4: emergency fund or knowing which expenses you could cut temporarily.

664
00:35:54,960 --> 00:35:59,000
Speaker 4: It's about resilience. Knowing that if life throws a curveball,

665
00:35:59,280 --> 00:36:00,920
Speaker 4: you already have plan B.

666
00:36:01,360 --> 00:36:04,359
Speaker 2: And that reduces panic. Instead of scrambling, you can move

667
00:36:04,400 --> 00:36:05,640
Speaker 2: forward with confidence.

668
00:36:05,960 --> 00:36:10,520
Speaker 4: Another essential step is understanding what you own. Don't just

669
00:36:10,760 --> 00:36:15,600
Speaker 4: know that you have an account, know what's inside it, stocks, bonds,

670
00:36:15,880 --> 00:36:20,920
Speaker 4: mutual funds, annuities, and whether those investments actually line up

671
00:36:20,960 --> 00:36:21,760
Speaker 4: with your goals.

672
00:36:22,239 --> 00:36:25,320
Speaker 2: And planning for your family goes beyond dollars and cents.

673
00:36:25,400 --> 00:36:29,440
Speaker 2: It means estate planning, wills, healthcare proxies, and all the

674
00:36:29,480 --> 00:36:31,799
Speaker 2: things that make sure your loved ones are cared for.

675
00:36:32,120 --> 00:36:34,280
Speaker 1: No matter what, women are.

676
00:36:34,200 --> 00:36:39,040
Speaker 4: Often the backbone of their families. Financial planning should reflect

677
00:36:39,120 --> 00:36:40,359
Speaker 4: that leadership role.

678
00:36:40,719 --> 00:36:44,120
Speaker 2: These strategies are practical, empowering, and designed to give women

679
00:36:44,200 --> 00:36:46,080
Speaker 2: steps they can start applying today.

680
00:36:46,400 --> 00:36:50,160
Speaker 4: That's why we created our free investor guide Ten Tips

681
00:36:50,200 --> 00:36:54,440
Speaker 4: to Empower Women investors. It's a resource to help women

682
00:36:54,560 --> 00:36:58,279
Speaker 4: take control of their retirement futures to make sure their

683
00:36:58,320 --> 00:37:02,680
Speaker 4: plans reflect their lives, their goals, and their values.

684
00:37:03,080 --> 00:37:03,520
Speaker 1: Don't wait.

685
00:37:03,680 --> 00:37:07,000
Speaker 2: Even small steps taken today can create independence and security

686
00:37:07,040 --> 00:37:09,880
Speaker 2: for tomorrow. To request your free copy and schedule a

687
00:37:09,920 --> 00:37:13,319
Speaker 2: complimentary consultation called eight eight eight eight hundred and one

688
00:37:13,360 --> 00:37:16,439
Speaker 2: eight eight one or EO Kelly at Kellyfinancial dot org.

689
00:37:16,840 --> 00:37:20,600
Speaker 4: That wraps up our conversation on women in retirement. But

690
00:37:20,680 --> 00:37:26,400
Speaker 4: there's plenty more still to come on Safe Money Strategies.

691
00:37:27,040 --> 00:37:30,640
Speaker 3: Safe Money Strategies brought to you by k Financial Senses.

692
00:37:30,920 --> 00:37:34,640
Speaker 3: Call eight eight eight eight hundred eighteen eighty one, will

693
00:37:34,760 --> 00:37:36,680
Speaker 3: visit Kellyfinancial dot org.

694
00:37:38,560 --> 00:37:39,680
Speaker 1: It's the Coonnerman.

695
00:37:40,080 --> 00:37:42,360
Speaker 5: I've got something truly special for you.

696
00:37:42,520 --> 00:37:43,160
Speaker 1: Join me on.

697
00:37:43,120 --> 00:37:46,400
Speaker 5: Wednesday, October fifteenth from four to six pm for a

698
00:37:46,600 --> 00:37:50,080
Speaker 5: live event that the iHeart Boston Studios in Medford with

699
00:37:50,200 --> 00:37:54,240
Speaker 5: the incredible team from Kelly Financial Services. We'll be talking

700
00:37:54,280 --> 00:37:58,120
Speaker 5: about the things that matter the most, family relationships, today's

701
00:37:58,160 --> 00:38:02,040
Speaker 5: biggest headlines from politics, the culture, and everything in between.

702
00:38:02,160 --> 00:38:03,280
Speaker 1: And that's not all.

703
00:38:03,440 --> 00:38:06,400
Speaker 5: You'll get a chance to hear about William Kelly's brand

704
00:38:06,400 --> 00:38:09,799
Speaker 5: new book, Meet my Friends, the Kelly Financial Family Tour

705
00:38:09,920 --> 00:38:13,560
Speaker 5: the iHeartMedia Studios where the magic of radio comes to

706
00:38:13,640 --> 00:38:19,440
Speaker 5: life There'll be food, drinks, prizes, plenty of unforgettable conversations.

707
00:38:19,600 --> 00:38:21,560
Speaker 1: Space is limited for reserve.

708
00:38:21,239 --> 00:38:24,560
Speaker 5: Your spot now call eight eight eight eight hundred eighteen

709
00:38:24,640 --> 00:38:27,879
Speaker 5: eighty one. Eight eight eight eight hundred eighteen eighty one.

710
00:38:28,080 --> 00:38:30,399
Speaker 5: I can't wait to see you all there.

711
00:38:30,840 --> 00:38:35,200
Speaker 12: Advisory services offer through Kelly Financial Services and SEC registered

712
00:38:35,239 --> 00:38:36,239
Speaker 12: investment advisor.

713
00:38:39,160 --> 00:38:39,520
Speaker 1: We're back.

714
00:38:39,560 --> 00:38:43,280
Speaker 6: I'm Mike du said, chief operating officer at Kelly Financial Services,

715
00:38:43,560 --> 00:38:45,799
Speaker 6: and I am joined by Greg Workman, one of the

716
00:38:45,840 --> 00:38:49,560
Speaker 6: trusted investment advisors on our team. The Big Beautiful Act,

717
00:38:49,719 --> 00:38:53,839
Speaker 6: signed into law in July, has wide reaching implications for taxpayers,

718
00:38:54,120 --> 00:38:57,320
Speaker 6: from an enlarged standard deduction for older a doubts to

719
00:38:57,640 --> 00:39:00,719
Speaker 6: more generous tax credits for families with young children. The

720
00:39:00,840 --> 00:39:04,400
Speaker 6: legislation contains a plethora of provisions that could lower your

721
00:39:04,440 --> 00:39:08,279
Speaker 6: twenty twenty five tax bill or, in some cases, increase it.

722
00:39:08,680 --> 00:39:12,200
Speaker 6: Let's start with the bonus deduction for taxpayers sixty five

723
00:39:12,440 --> 00:39:13,000
Speaker 6: or older.

724
00:39:13,239 --> 00:39:16,160
Speaker 7: Starting with the twenty twenty five tax Here, those who

725
00:39:16,239 --> 00:39:20,239
Speaker 7: are sixty five plus will be eligible for an additional

726
00:39:20,320 --> 00:39:24,480
Speaker 7: standard deduction of six thousand dollars. What's the catch? The

727
00:39:24,600 --> 00:39:30,080
Speaker 7: bonus standard deduction will affect only eligible taxpayers whose income

728
00:39:30,280 --> 00:39:34,120
Speaker 7: exceeds the amount of their standard deduction, so low income

729
00:39:34,160 --> 00:39:37,640
Speaker 7: seniors won't necessarily benefit from this tax break.

730
00:39:37,719 --> 00:39:41,120
Speaker 6: On the other end of the spectrum, higher income taxpayers

731
00:39:41,239 --> 00:39:44,640
Speaker 6: could see the amount of the bonus deduction reduced or

732
00:39:44,719 --> 00:39:48,840
Speaker 6: eliminated altogether. The deduction starts to phase out for couples

733
00:39:48,840 --> 00:39:51,959
Speaker 6: with modified adjusted gross income of more than one hundred

734
00:39:52,000 --> 00:39:55,719
Speaker 6: and fifty thousand, seventy five thousand for single filers, and

735
00:39:55,880 --> 00:39:59,600
Speaker 6: is fully phased out at modified adjusted gross income of

736
00:39:59,600 --> 00:40:02,919
Speaker 6: two one hundred and fifty thousand, one hundred seventy five

737
00:40:03,120 --> 00:40:03,800
Speaker 6: for singles.

738
00:40:03,920 --> 00:40:09,240
Speaker 7: As a reminder, your modified adjusted gross income or MAGI

739
00:40:09,680 --> 00:40:13,880
Speaker 7: is your adjusted gross income with certain deductions added.

740
00:40:13,960 --> 00:40:15,280
Speaker 1: Back in. Here's a question.

741
00:40:15,560 --> 00:40:18,640
Speaker 6: Does the bill eliminate tax on Social Security benefits?

742
00:40:18,840 --> 00:40:23,400
Speaker 7: The legislation will not eliminate taxes on Social Security benefits,

743
00:40:23,719 --> 00:40:27,080
Speaker 7: but because the tax ability of benefits is based on

744
00:40:27,160 --> 00:40:31,520
Speaker 7: a calculation involving your adjusted gross income, the bill will

745
00:40:31,640 --> 00:40:35,120
Speaker 7: serve to reduce the number of beneficiaries who pay the

746
00:40:35,200 --> 00:40:38,320
Speaker 7: taxes from thirty six percent to twelve percent.

747
00:40:38,560 --> 00:40:40,040
Speaker 1: According to the White House, the.

748
00:40:40,000 --> 00:40:43,000
Speaker 6: Bill contains a valuable tax break for homeowners in certain

749
00:40:43,120 --> 00:40:45,120
Speaker 6: high tax states, could you touch on.

750
00:40:45,120 --> 00:40:49,560
Speaker 7: That homeowners can permanently deduct mortgage interst on home loans

751
00:40:49,640 --> 00:40:53,480
Speaker 7: up to seven hundred and fifty thousand, giving certainty and

752
00:40:53,600 --> 00:40:57,920
Speaker 7: tax savings for those with moderate to large mortgages. The

753
00:40:58,040 --> 00:41:02,760
Speaker 7: cap is now permanent, other than expiring after twenty twenty five,

754
00:41:03,160 --> 00:41:06,120
Speaker 7: so homeowners now have long term certainty.

755
00:41:06,160 --> 00:41:09,960
Speaker 6: Another break for home owners is the salt or state

756
00:41:10,040 --> 00:41:13,640
Speaker 6: in local tax deduction. The deduction cap rises from ten

757
00:41:13,719 --> 00:41:18,120
Speaker 6: thousand to forty thousand from twenty twenty five through twenty

758
00:41:18,200 --> 00:41:22,200
Speaker 6: twenty nine for income under five hundred thousand, which helps

759
00:41:22,280 --> 00:41:26,000
Speaker 6: those in high property tax states reduce their federal tax bills.

760
00:41:26,239 --> 00:41:29,840
Speaker 6: As you consider your year end charitable contributions, it's important

761
00:41:29,840 --> 00:41:33,399
Speaker 6: to understand how new tax breaks forgivers, along with new

762
00:41:33,440 --> 00:41:36,280
Speaker 6: limits on how much some donors will be allowed to deduct,

763
00:41:36,480 --> 00:41:37,440
Speaker 6: impact your return.

764
00:41:37,640 --> 00:41:41,960
Speaker 7: The Big Beautiful Bill permanently extends the higher standard deduction

765
00:41:42,120 --> 00:41:46,560
Speaker 7: rules from the twenty seventeen tax law, which means fewer

766
00:41:46,600 --> 00:41:52,440
Speaker 7: taxpayers will itemize and therefore fewer will claim a charitable deduction. However,

767
00:41:52,760 --> 00:41:56,360
Speaker 7: for those who do itemize, the Big Beautiful Bill keeps

768
00:41:56,400 --> 00:42:00,320
Speaker 7: in place the ability to deduct cash contributions to public

769
00:42:00,480 --> 00:42:05,320
Speaker 7: charities up to sixty percent of adjusted gross income, giving

770
00:42:05,640 --> 00:42:10,640
Speaker 7: larger donors continued tax incentives. In addition, starting in twenty

771
00:42:10,680 --> 00:42:14,600
Speaker 7: twenty six, taxpayers who do not itemize can deduct up

772
00:42:14,680 --> 00:42:18,600
Speaker 7: to one thousand and charitable contributions, or up to two

773
00:42:18,640 --> 00:42:21,600
Speaker 7: thousand for married couples who file jointly.

774
00:42:21,719 --> 00:42:25,680
Speaker 6: The Big Beautiful Bill impacts health savings accounts. Hsas can

775
00:42:25,719 --> 00:42:28,560
Speaker 6: be a valuable tool to set aside money for both

776
00:42:28,600 --> 00:42:32,840
Speaker 6: current and future healthcare expenses, and HSA provides a triple

777
00:42:32,920 --> 00:42:33,600
Speaker 6: tax break.

778
00:42:33,840 --> 00:42:36,440
Speaker 1: Your contributions are tax deductible or.

779
00:42:36,480 --> 00:42:38,719
Speaker 6: Pre tax If you made it through your employer, the

780
00:42:38,760 --> 00:42:42,120
Speaker 6: money gross tax deferred, and you can use it tax

781
00:42:42,200 --> 00:42:45,839
Speaker 6: free for eligible medical expenses in any year after.

782
00:42:45,600 --> 00:42:47,080
Speaker 1: You turn sixty five.

783
00:42:47,360 --> 00:42:51,360
Speaker 7: You can also withdraw money tax free from the HSA

784
00:42:51,600 --> 00:42:55,720
Speaker 7: for Medicare premiums in addition to other out of pocket

785
00:42:55,760 --> 00:42:56,760
Speaker 7: healthcare costs.

786
00:42:56,960 --> 00:43:02,000
Speaker 6: Starting in twenty twenty six, ACA, Bronze and Catastrophic Marketplace

787
00:43:02,040 --> 00:43:05,680
Speaker 6: plans will be treated as high deductible health plans, meaning

788
00:43:05,680 --> 00:43:08,719
Speaker 6: that many people who were not previously eligible will now

789
00:43:08,760 --> 00:43:11,480
Speaker 6: be able to open and contribute to hsas.

790
00:43:11,800 --> 00:43:16,799
Speaker 7: Also from twenty twenty six, memberships in certain direct primary

791
00:43:16,840 --> 00:43:21,399
Speaker 7: care arrangements with monthly fees up to or about one

792
00:43:21,440 --> 00:43:24,560
Speaker 7: hundred and fifty dollars for individuals or three hundred for

793
00:43:24,680 --> 00:43:30,160
Speaker 7: families will no longer disqualify someone for HSA eligibility, and

794
00:43:30,239 --> 00:43:33,840
Speaker 7: such fees can be applied using HSA funds.

795
00:43:34,040 --> 00:43:37,360
Speaker 6: The bill provides benefits for families, including more generous tax

796
00:43:37,400 --> 00:43:40,960
Speaker 6: credits for parents, including a permanent child tax credit of

797
00:43:41,000 --> 00:43:44,720
Speaker 6: twenty two hundred poor child and increases the refundable portion

798
00:43:45,040 --> 00:43:47,440
Speaker 6: to seventeen hundred, putting more money in the hands of

799
00:43:47,480 --> 00:43:50,400
Speaker 6: families even if they don't owe much in federal taxes.

800
00:43:50,640 --> 00:43:54,799
Speaker 7: It also expands five twenty nine education savings plans to

801
00:43:54,920 --> 00:43:59,920
Speaker 7: cover not just college tuition, but K through twelve materials, tutoring,

802
00:44:00,200 --> 00:44:04,479
Speaker 7: dual enrollment credential programs, and allows for the new quote

803
00:44:04,560 --> 00:44:08,360
Speaker 7: unquote Trump Accounts, which are seated with one thousand for

804
00:44:08,560 --> 00:44:12,040
Speaker 7: children born twenty twenty five to twenty twenty eight, so

805
00:44:12,200 --> 00:44:16,680
Speaker 7: parents have more flexibility in preparing financially for their children's

806
00:44:16,800 --> 00:44:18,600
Speaker 7: education and future.

807
00:44:18,840 --> 00:44:22,279
Speaker 6: Updating a financial plan is a critical practice for maintaining

808
00:44:22,320 --> 00:44:26,360
Speaker 6: financial security and achieving long term goals. Because a financial

809
00:44:26,360 --> 00:44:29,920
Speaker 6: plan is not a static document, regular reviews. In short,

810
00:44:29,960 --> 00:44:33,520
Speaker 6: stays aligned with your changing life goals and market conditions.

811
00:44:33,719 --> 00:44:37,360
Speaker 7: Neglecting to update your plan can lead to missed opportunities,

812
00:44:37,560 --> 00:44:42,480
Speaker 7: poor financial decisions, and increased stress. It pays, quite literally,

813
00:44:42,760 --> 00:44:46,359
Speaker 7: to make sure you're maximizing your resources year in and

814
00:44:46,480 --> 00:44:50,160
Speaker 7: year out. A small change could mean thousands down the road,

815
00:44:50,520 --> 00:44:51,560
Speaker 7: so don't miss out.

816
00:44:51,719 --> 00:44:54,520
Speaker 6: If you think of yourself as the CEO of your

817
00:44:54,560 --> 00:44:57,880
Speaker 6: financial life, your financial plan is your business plan. It

818
00:44:57,920 --> 00:45:00,840
Speaker 6: captures your vision for the future and lines in great

819
00:45:00,880 --> 00:45:03,720
Speaker 6: details the steps you can take to pursue that vision.

820
00:45:03,840 --> 00:45:07,280
Speaker 7: If having a plan sounds intimidating and a bit daunting,

821
00:45:07,640 --> 00:45:09,160
Speaker 7: that's where we come in to help.

822
00:45:09,280 --> 00:45:11,640
Speaker 6: Call our team today at eight eight eight eight hundred

823
00:45:11,800 --> 00:45:14,440
Speaker 6: eighteen eighty one and let us walk you through our

824
00:45:14,480 --> 00:45:18,799
Speaker 6: safe Money Strategies financial planning process, no frills, easy to

825
00:45:18,880 --> 00:45:22,160
Speaker 6: understand workbook provides a three hundred and sixty degree view

826
00:45:22,320 --> 00:45:25,239
Speaker 6: of your finances and provides the confidence you need to

827
00:45:25,239 --> 00:45:27,600
Speaker 6: make smart financial decisions moving forward.

828
00:45:27,680 --> 00:45:30,759
Speaker 7: Once again, our phone number is eight eight eight eight

829
00:45:30,920 --> 00:45:35,239
Speaker 7: hundred eighteen eighty one. Don't delay, call us today and

830
00:45:35,360 --> 00:45:38,640
Speaker 7: let our team pave the way to financial freedom by

831
00:45:38,719 --> 00:45:43,520
Speaker 7: uncovering opportunities and risks that you might otherwise miss out on.

832
00:45:43,680 --> 00:45:45,840
Speaker 6: Thank you for joining us on this week's edition of

833
00:45:45,880 --> 00:45:49,400
Speaker 6: Safe Money Strategies. I'm Mike Ducett and I'm Greg Workman.

834
00:45:49,520 --> 00:45:52,120
Speaker 6: We'll be back next week for more Safe Money Strategies.

835
00:45:56,719 --> 00:46:01,560
Speaker 5: Joining us now, as she always does, this time the

836
00:46:01,640 --> 00:46:07,359
Speaker 5: co founder, CEO, president of Kelly Financial Services, and yes,

837
00:46:07,600 --> 00:46:09,719
Speaker 5: that is her wonderful.

838
00:46:09,280 --> 00:46:17,080
Speaker 1: Name, Kelly, Kelly Kelly, How are you, good morning, Jeff?

839
00:46:17,200 --> 00:46:20,800
Speaker 4: I am good. First, I want to take a moment

840
00:46:20,920 --> 00:46:24,000
Speaker 4: to say how proud I am of my son William.

841
00:46:24,360 --> 00:46:27,080
Speaker 4: He's been with you, Jeff for the past two Fridays,

842
00:46:27,160 --> 00:46:30,080
Speaker 4: and he really did such a wonderful job announcing his

843
00:46:30,239 --> 00:46:34,719
Speaker 4: upcoming book, Only the Good invest Young and giving a

844
00:46:34,840 --> 00:46:38,920
Speaker 4: heartfelt tribute to Charlie Kirk. William Honey, if you're listening,

845
00:46:39,320 --> 00:46:42,759
Speaker 4: thank you, and I couldn't be prouder. And speaking of

846
00:46:42,880 --> 00:46:46,840
Speaker 4: exciting news, I want to personally invite your listeners to

847
00:46:47,000 --> 00:46:51,280
Speaker 4: join us on Wednesday, October fifteenth for our special event

848
00:46:51,440 --> 00:46:54,799
Speaker 4: with you Jeff. Is going to be a great afternoon,

849
00:46:54,800 --> 00:46:58,919
Speaker 4: a conversation connection and of course a chance to meet

850
00:46:58,960 --> 00:47:02,160
Speaker 4: William and here for about his book. I will be there.

851
00:47:02,320 --> 00:47:05,440
Speaker 4: Our Kelly Financial team will be there. If you'd like

852
00:47:05,560 --> 00:47:08,200
Speaker 4: to register, give us a call or send us an

853
00:47:08,200 --> 00:47:11,960
Speaker 4: email at Kelly at Kellyfinancial dot org. Jeff, have a

854
00:47:12,000 --> 00:47:14,880
Speaker 4: wonderful weekend. My best of Grace and the kiddos.

855
00:47:15,200 --> 00:47:18,600
Speaker 5: Thank you, Kelly, My best to everyone in your family

856
00:47:18,640 --> 00:47:21,520
Speaker 5: and of course at Kelly Financial. And I am definitely

857
00:47:21,600 --> 00:47:25,000
Speaker 5: looking forward to that event right here in the studios

858
00:47:25,040 --> 00:47:28,000
Speaker 5: in iHeart. I will be there and we'll be talking

859
00:47:28,000 --> 00:47:32,399
Speaker 5: about current events, politics, William's book so much. I hope

860
00:47:32,440 --> 00:47:35,279
Speaker 5: to see all of you there. Cooner Country tickets are

861
00:47:35,320 --> 00:47:39,080
Speaker 5: still available call eight eight eight eight hundred eighteen eighty

862
00:47:39,120 --> 00:47:42,840
Speaker 5: one eight eight eight eight hundred eighteen eighty one, or

863
00:47:42,840 --> 00:47:46,879
Speaker 5: if you prefer, you can email Kelly directly Kelly at

864
00:47:46,960 --> 00:47:52,400
Speaker 5: Kelly Financial dot org, Kelly at Kellyfinancial dot.

865
00:47:52,200 --> 00:47:59,319
Speaker 3: Org Safe Money Strategies at eight eight hundred one eight

866
00:47:59,520 --> 00:47:59,959
Speaker 3: eight twelve.

867
00:48:02,640 --> 00:48:05,400
Speaker 4: This week, Bill takes us back to the lessons he

868
00:48:05,560 --> 00:48:09,680
Speaker 4: learned from his grandfather, a man who went from prosperity

869
00:48:09,719 --> 00:48:13,560
Speaker 4: to hardship in the crash of nineteen thirty two, but

870
00:48:13,719 --> 00:48:18,399
Speaker 4: never lost his sense of discipline, respect, and perseverance. Through

871
00:48:18,520 --> 00:48:23,640
Speaker 4: stories of family, work and values, that shaped an entire generation.

872
00:48:24,280 --> 00:48:27,759
Speaker 4: Bill reminds us how a strong foundation can carry us

873
00:48:27,800 --> 00:48:32,680
Speaker 4: through life's most difficult challenges. These are timeless lessons and

874
00:48:32,719 --> 00:48:36,120
Speaker 4: they're just as important today as they were nearly a

875
00:48:36,200 --> 00:48:40,080
Speaker 4: century ago. Ladies and gentlemen, here's Bill Kelly.

876
00:48:42,600 --> 00:48:45,319
Speaker 12: Gramp was probably the strongest man I ever knew, and

877
00:48:45,360 --> 00:48:48,520
Speaker 12: there wasn't much he couldn't do. Over the years, he

878
00:48:48,560 --> 00:48:50,520
Speaker 12: stood up to a lot, and he made it to

879
00:48:50,520 --> 00:48:52,920
Speaker 12: the finish line with his head up. Graham had a

880
00:48:52,960 --> 00:48:56,080
Speaker 12: wonderful life until the crash of nineteen thirty two, when

881
00:48:56,120 --> 00:49:00,000
Speaker 12: his whole world suddenly changed. He was a wealthy industrialist

882
00:49:00,320 --> 00:49:03,480
Speaker 12: and owned several six family homes in Providence. He had

883
00:49:03,520 --> 00:49:06,400
Speaker 12: a beautiful residence in a very nice section of Cranston,

884
00:49:06,920 --> 00:49:09,520
Speaker 12: and his family had the best of everything. They had

885
00:49:09,560 --> 00:49:13,360
Speaker 12: the nicest pianos and wonderful clothing. Then it was suddenly

886
00:49:13,760 --> 00:49:17,240
Speaker 12: all gone. Providence was the jewelry capital of the world.

887
00:49:17,880 --> 00:49:20,840
Speaker 12: There were many factories for jewelry and silver place settings.

888
00:49:21,480 --> 00:49:24,400
Speaker 12: My grandfather had a factory in which they enameled emblems

889
00:49:24,400 --> 00:49:27,560
Speaker 12: for Rio motorcar company, for the VFW, the Army, and

890
00:49:27,600 --> 00:49:31,400
Speaker 12: the Navy. They enameled emblems and buttons for uniforms. In

891
00:49:31,520 --> 00:49:34,080
Speaker 12: nineteen twenty seven, there were signs on the horizon that

892
00:49:34,120 --> 00:49:37,280
Speaker 12: didn't bode well for anyone who owned a jewelry factory

893
00:49:37,360 --> 00:49:40,920
Speaker 12: in Providence. As the financial markets collapsed in the late

894
00:49:41,000 --> 00:49:43,840
Speaker 12: twenties and early thirties, Graham didn't know what he was

895
00:49:43,880 --> 00:49:47,239
Speaker 12: heading into. At first, the darkness was on the horizon,

896
00:49:47,360 --> 00:49:50,239
Speaker 12: and then like a tidal wave, it was at his

897
00:49:50,320 --> 00:49:53,160
Speaker 12: front door. He had to face that with eight children,

898
00:49:53,560 --> 00:49:56,279
Speaker 12: no money, and all of his houses going into foreclosure

899
00:49:56,360 --> 00:49:58,480
Speaker 12: because no one could pay the rent. He couldn't have

900
00:49:58,480 --> 00:50:01,600
Speaker 12: found other tenants who had any money. Providence looked like

901
00:50:01,640 --> 00:50:04,200
Speaker 12: a prison camp or a scene out of a Dickens movie,

902
00:50:04,560 --> 00:50:07,720
Speaker 12: with people sitting on their front stoops all day. Nobody

903
00:50:07,719 --> 00:50:12,040
Speaker 12: could find work. Why was Providence hit so hard? Well,

904
00:50:12,360 --> 00:50:16,120
Speaker 12: middle class people stopped buying jewelry. You couldn't eat jewelry.

905
00:50:16,400 --> 00:50:19,640
Speaker 12: The collapse delivered a double hit for Providence and for

906
00:50:19,760 --> 00:50:23,719
Speaker 12: gramp So what did he do? Did he become paralyzed

907
00:50:23,760 --> 00:50:27,560
Speaker 12: with despair? No, he went out and painted. He painted

908
00:50:27,560 --> 00:50:30,839
Speaker 12: for the work's Progress administration. In those days, they had

909
00:50:30,840 --> 00:50:34,319
Speaker 12: to divide the family up. Aunts, uncles, and cousins would

910
00:50:34,320 --> 00:50:37,160
Speaker 12: take in children while the head of the household tried

911
00:50:37,200 --> 00:50:39,920
Speaker 12: to make enough money to pay for their food. New

912
00:50:39,960 --> 00:50:43,320
Speaker 12: clothing was unheard of. Clothing was passed down from child

913
00:50:43,360 --> 00:50:46,560
Speaker 12: to child. Gramp got on his feet again through hard

914
00:50:46,600 --> 00:50:49,279
Speaker 12: work and was eventually able to help my parents buy

915
00:50:49,400 --> 00:50:52,160
Speaker 12: bailey Brook Farm. At the time, we were living in

916
00:50:52,200 --> 00:50:55,200
Speaker 12: a project. There's nothing else you could call it. Gramp

917
00:50:55,200 --> 00:50:57,759
Speaker 12: had saved up about four thousand dollars, which was an

918
00:50:57,840 --> 00:51:00,360
Speaker 12: unheard of some back then. He used it is a

919
00:51:00,400 --> 00:51:03,680
Speaker 12: down payment on the twenty seven acre farm for my parents.

920
00:51:04,280 --> 00:51:06,719
Speaker 12: Graham decided he was going to stay with us and

921
00:51:06,760 --> 00:51:09,640
Speaker 12: they would pay the mortgage together. Dad was a fireman

922
00:51:09,680 --> 00:51:12,840
Speaker 12: and Mom was a telephone operator. I think both of

923
00:51:12,840 --> 00:51:16,200
Speaker 12: those terms are improper or antiquated now, but that's what

924
00:51:16,239 --> 00:51:18,600
Speaker 12: they called themselves, and that's how we got our start.

925
00:51:18,920 --> 00:51:22,200
Speaker 12: On a farm about a mile from the beach, everyone

926
00:51:22,280 --> 00:51:25,320
Speaker 12: had to work. I always wondered if Gramp was bitter

927
00:51:25,360 --> 00:51:28,960
Speaker 12: about all he'd lost in his life. He was a perfectionist.

928
00:51:29,120 --> 00:51:32,160
Speaker 12: He did the daily routine and he cared for us.

929
00:51:32,480 --> 00:51:34,759
Speaker 12: But I think it may have been a difficult adjustment.

930
00:51:35,560 --> 00:51:38,160
Speaker 12: Graham had gone from being a pillar of providence industry

931
00:51:38,200 --> 00:51:41,000
Speaker 12: in nineteen thirty two to living in a farmhouse in

932
00:51:41,080 --> 00:51:45,080
Speaker 12: nineteen fifty two with nine other people all sharing one bathroom.

933
00:51:45,480 --> 00:51:47,719
Speaker 12: He didn't seem to have a lot of regrets, and

934
00:51:47,760 --> 00:51:50,520
Speaker 12: he certainly had a lot to teach us. So what

935
00:51:50,600 --> 00:51:53,520
Speaker 12: were the values my grandfather taught me? There were many.

936
00:51:54,040 --> 00:51:57,239
Speaker 12: Respect for proper diction was one. When we got home

937
00:51:57,280 --> 00:52:00,000
Speaker 12: from school, he would ask us grandkids about the word

938
00:52:00,000 --> 00:52:02,320
Speaker 12: words we had learned, and he would stress the importance

939
00:52:02,320 --> 00:52:05,800
Speaker 12: of diction. Good diction begins with the teeth, tongue, and lips.

940
00:52:06,200 --> 00:52:08,640
Speaker 12: I can still see him standing right there saying it.

941
00:52:09,080 --> 00:52:11,400
Speaker 12: If I had the vocal quality of some other people

942
00:52:11,440 --> 00:52:14,600
Speaker 12: in radio, I think I'd be a billionaire. I'm not

943
00:52:14,680 --> 00:52:17,319
Speaker 12: on the radio because of my vocal talent, and I

944
00:52:17,360 --> 00:52:20,200
Speaker 12: don't have a show because I'm the sharpest person in radio.

945
00:52:20,719 --> 00:52:23,560
Speaker 12: I'm here because I love what I'm doing and apparently

946
00:52:23,600 --> 00:52:26,839
Speaker 12: people like listening. That's the extent of it. But good

947
00:52:26,840 --> 00:52:29,880
Speaker 12: diction was important to Graham and it's helped me to

948
00:52:29,920 --> 00:52:33,520
Speaker 12: this day. Respect for teachers was paramount in our house.

949
00:52:34,520 --> 00:52:36,600
Speaker 12: If a note came home from school, it was a

950
00:52:36,600 --> 00:52:39,640
Speaker 12: big event. It didn't generally bode well for us if

951
00:52:39,640 --> 00:52:41,840
Speaker 12: the note said we weren't doing what we were supposed

952
00:52:41,880 --> 00:52:44,560
Speaker 12: to be doing. If I was the culprit, there was

953
00:52:44,640 --> 00:52:47,560
Speaker 12: definitely a meeting after dinner with a committee comprised of

954
00:52:47,600 --> 00:52:51,319
Speaker 12: mom and graamp or mom and dad. They sided with

955
00:52:51,400 --> 00:52:54,080
Speaker 12: the school almost one hundred percent of the time. They

956
00:52:54,160 --> 00:52:56,480
Speaker 12: didn't call the school and threatened to sue the teacher.

957
00:52:57,040 --> 00:52:59,640
Speaker 12: They called the school and said it's taken care of.

958
00:53:00,400 --> 00:53:04,279
Speaker 12: If it happens again, please let us know. Respect for

959
00:53:04,400 --> 00:53:07,960
Speaker 12: law and order, paying taxes, and being a good citizen

960
00:53:08,239 --> 00:53:11,120
Speaker 12: were all taught to us at an early age. Another

961
00:53:11,239 --> 00:53:14,279
Speaker 12: value we learned was that voting was of great importance.

962
00:53:15,160 --> 00:53:17,760
Speaker 12: When we turned sixteen, we were expected to drive people

963
00:53:17,800 --> 00:53:21,480
Speaker 12: to the polls. Back then, most people were Democrats, so

964
00:53:21,560 --> 00:53:24,640
Speaker 12: we brought Democrats to the polls to vote for other Democrats.

965
00:53:24,880 --> 00:53:28,880
Speaker 12: We participated in government and watched news conferences at home.

966
00:53:30,120 --> 00:53:34,200
Speaker 12: So what else did we learn? Obeying rules was paramount.

967
00:53:34,840 --> 00:53:37,520
Speaker 12: We didn't get a chance to participate in the hippie

968
00:53:37,600 --> 00:53:42,120
Speaker 12: movement of the nineteen sixties. We had small sideburns. They

969
00:53:42,160 --> 00:53:44,080
Speaker 12: were allowed to grow to the bottom of the ear.

970
00:53:44,560 --> 00:53:46,640
Speaker 12: That was the limit where you weren't going to sit

971
00:53:46,680 --> 00:53:49,319
Speaker 12: at the table that night. It wasn't going to be

972
00:53:49,360 --> 00:53:53,160
Speaker 12: comfortable if your hair wasn't cut neatly and smartly. Work

973
00:53:53,200 --> 00:53:56,319
Speaker 12: and employment ranked high in our household. You always had

974
00:53:56,320 --> 00:53:58,879
Speaker 12: a job, no matter what else you were doing. If

975
00:53:58,920 --> 00:54:02,440
Speaker 12: you were fired or or laid off, you weren't encouraged

976
00:54:02,440 --> 00:54:05,680
Speaker 12: to take unemployment. You were encouraged to get another job

977
00:54:05,800 --> 00:54:09,080
Speaker 12: right away. If it wasn't the right fit, something would

978
00:54:09,080 --> 00:54:11,200
Speaker 12: come up along the way to make it the right fit,

979
00:54:11,719 --> 00:54:14,640
Speaker 12: and you'd eventually have the right job. But sitting around

980
00:54:14,719 --> 00:54:17,760
Speaker 12: waiting for the perfect job was not a Kelly family tradition.

981
00:54:18,520 --> 00:54:21,640
Speaker 12: Another thing is that we were a union household. We

982
00:54:21,680 --> 00:54:25,240
Speaker 12: respected unions and we respected the efforts of people who worked.

983
00:54:25,719 --> 00:54:29,160
Speaker 12: We were both willing and proud to support union initiatives

984
00:54:29,200 --> 00:54:32,080
Speaker 12: such as better working conditions, higher wages, and a better

985
00:54:32,160 --> 00:54:35,400
Speaker 12: standard of living. The unions were noble. They were trying

986
00:54:35,400 --> 00:54:38,160
Speaker 12: to keep people from having to work on Sundays to

987
00:54:38,239 --> 00:54:41,480
Speaker 12: get better wages if they had to work Saturdays. They

988
00:54:41,520 --> 00:54:44,680
Speaker 12: set the work week at forty hours, and Irish immigrant

989
00:54:44,680 --> 00:54:48,520
Speaker 12: families needed it badly. This was especially true in Providence

990
00:54:49,040 --> 00:54:52,040
Speaker 12: because the city was home to hundreds of mills. There

991
00:54:52,040 --> 00:54:55,239
Speaker 12: were mills of every type lining the streets, rivers and

992
00:54:55,400 --> 00:54:59,160
Speaker 12: railroad tracks. They made everything from paper to jewelry and

993
00:54:59,239 --> 00:55:02,880
Speaker 12: anything having to do with metal tools or machinery. Unions

994
00:55:02,920 --> 00:55:06,040
Speaker 12: were respected in our home. So that's what it was like.

995
00:55:06,520 --> 00:55:09,000
Speaker 12: Those were the values taught to us by our parents

996
00:55:09,000 --> 00:55:12,680
Speaker 12: and grandparents. It sometimes seems as if those values are gone,

997
00:55:12,680 --> 00:55:15,640
Speaker 12: but they're not. Indeed, they've worked out for me and

998
00:55:15,680 --> 00:55:18,120
Speaker 12: they live on in many other people. I know, if

999
00:55:18,160 --> 00:55:20,239
Speaker 12: you have a good value system, does it keep you

1000
00:55:20,280 --> 00:55:23,520
Speaker 12: from making an error? No, You're going to make mistakes,

1001
00:55:24,080 --> 00:55:27,200
Speaker 12: but a good value system can help you recover. A

1002
00:55:27,239 --> 00:55:29,920
Speaker 12: big mistake doesn't have to be fatal if you have

1003
00:55:29,960 --> 00:55:32,440
Speaker 12: a solid value system working for you and you know

1004
00:55:32,600 --> 00:55:35,200
Speaker 12: right from wrong. There's a price to pay if you

1005
00:55:35,239 --> 00:55:37,680
Speaker 12: want to step on the other side. So I think

1006
00:55:37,800 --> 00:55:42,200
Speaker 12: value systems work. There's survival mechanisms. There are ethics that

1007
00:55:42,280 --> 00:55:45,719
Speaker 12: allow us to navigate through life, and they're really very

1008
00:55:45,800 --> 00:55:46,440
Speaker 12: important to have.

1009
00:55:46,560 --> 00:55:47,360
Speaker 1: Ladies and gentlemen.

1010
00:55:50,200 --> 00:55:55,360
Speaker 3: Chaole Kelly Financial Services, eight hundred eighteen eighty one.

1011
00:55:55,680 --> 00:55:59,480
Speaker 4: I'm Kelly Kelly from Kelly Financial. Retirement is a time

1012
00:55:59,520 --> 00:56:02,320
Speaker 4: to enjoy the fruits of your labor, but is also

1013
00:56:02,400 --> 00:56:06,400
Speaker 4: a period when financial stability becomes more critical than ever,

1014
00:56:06,680 --> 00:56:11,800
Speaker 4: so seeking expert financial advice is essential, regardless of your age.

1015
00:56:11,960 --> 00:56:16,920
Speaker 4: Professional guidance insures your assets are allocated wisely, helping your

1016
00:56:16,960 --> 00:56:20,080
Speaker 4: money last as long as you need it. The advisors

1017
00:56:20,120 --> 00:56:22,920
Speaker 4: at Kelly Financial will help you take charge of your

1018
00:56:22,960 --> 00:56:26,880
Speaker 4: financial future and preserve your hard earned wealth to enable

1019
00:56:26,960 --> 00:56:30,080
Speaker 4: you to focus on the retirement you've dreamed of. We

1020
00:56:30,200 --> 00:56:34,320
Speaker 4: have a free investor guide called designing your Fiscal House

1021
00:56:34,400 --> 00:56:37,840
Speaker 4: to Weather the Elements, which highlights the steps needed to

1022
00:56:37,920 --> 00:56:41,400
Speaker 4: build a balanced portfolio. For the guide and a free

1023
00:56:41,440 --> 00:56:45,080
Speaker 4: consultation with a Kelly advisor, call eight eight eight eight

1024
00:56:45,239 --> 00:56:50,320
Speaker 4: hundred eighteen eighty one or email Kelly at Kellyfinancial dot org.

1025
00:56:50,640 --> 00:56:53,880
Speaker 4: We're Kelly Financial. Come retire with us.

1026
00:56:54,680 --> 00:56:59,439
Speaker 3: Safe money strategies with William Kelly and Kelly Kelly. Go

1027
00:56:59,520 --> 00:57:01,439
Speaker 3: to Kelly Financial dot org.

1028
00:57:07,000 --> 00:57:09,560
Speaker 2: All opinions expressed by the host, his guests, or employees

1029
00:57:09,600 --> 00:57:11,480
Speaker 2: of Kelly Financial Services are solely their own and do

1030
00:57:11,520 --> 00:57:13,560
Speaker 2: not reflect the opinions of Kelly Financial Services.

1031
00:57:13,640 --> 00:57:15,960
Speaker 11: Information has been obtained from sources deemed to be reliable,

1032
00:57:16,000 --> 00:57:18,520
Speaker 11: but their accuracy and completeness cannot be guaranteed. The information

1033
00:57:18,600 --> 00:57:20,360
Speaker 11: provided as general in nature and is not intended to

1034
00:57:20,360 --> 00:57:22,800
Speaker 11: be specific investment, tax, or legal advice. It is always

1035
00:57:22,840 --> 00:57:25,440
Speaker 11: advisable to consult a professional before making a financial decision.