1
00:00:12,360 --> 00:00:14,800
Speaker 1: This is coming to us.

2
00:00:20,360 --> 00:00:23,599
Speaker 2: Ladies and gentlemen. Welcome to Safe Money Strategies on WRKO.

3
00:00:24,040 --> 00:00:26,360
Speaker 2: I'm William Kelly and it's an honor to carry on

4
00:00:26,440 --> 00:00:30,280
Speaker 2: a family legacy rooted in real world values and practical advice.

5
00:00:31,000 --> 00:00:33,440
Speaker 2: Kelly Financial was founded in two thousand and three by

6
00:00:33,440 --> 00:00:35,960
Speaker 2: my parents, my late father Bill Kelly and my mother

7
00:00:36,159 --> 00:00:40,840
Speaker 2: Kelly Kelly in Braintree and Burlington, Massachusetts. Just two years later,

8
00:00:40,960 --> 00:00:44,040
Speaker 2: Dad launched Safe Money Strategies on WRKO as a no

9
00:00:44,040 --> 00:00:47,720
Speaker 2: nonsense callin radio show focused on common sense planning and

10
00:00:47,800 --> 00:00:51,400
Speaker 2: protecting wealth. Over the past two decades, Dad became a

11
00:00:51,440 --> 00:00:55,080
Speaker 2: pillar in New England finance, an engineer turned entrepreneur, author

12
00:00:55,240 --> 00:00:58,520
Speaker 2: and philanthropist who believed in giving back and walking the talk.

13
00:00:58,920 --> 00:01:00,920
Speaker 2: Since two thousand and five, if our shows were made

14
00:01:00,960 --> 00:01:05,560
Speaker 2: a Saturday morning staple offering insight and empowerment. Here at

15
00:01:05,600 --> 00:01:08,640
Speaker 2: Kelly Financial, we help steward over seven hundred million dollars

16
00:01:08,640 --> 00:01:12,320
Speaker 2: across our affiliated business, including more than five hundred million

17
00:01:12,360 --> 00:01:16,600
Speaker 2: dollars managed by our sec registered investment advisory, where fiduciary

18
00:01:16,640 --> 00:01:20,400
Speaker 2: care and our family first philosophy guides us on safe

19
00:01:20,400 --> 00:01:23,640
Speaker 2: money strategies. You'll hear candid conversations with the team, my

20
00:01:23,760 --> 00:01:28,920
Speaker 2: mother Kelly, myself, advisors Charlie Gable, Mike Ducett, Greg Workman,

21
00:01:29,200 --> 00:01:32,959
Speaker 2: Greg Murray, my sister Mary Madeline, and Tom Schlager. We

22
00:01:33,080 --> 00:01:36,480
Speaker 2: live by two rules, never quit and carry on, and

23
00:01:36,520 --> 00:01:38,000
Speaker 2: we're here to help you do the same when it

24
00:01:38,040 --> 00:01:41,119
Speaker 2: comes to your money. Stick around, take notes and join

25
00:01:41,160 --> 00:01:44,000
Speaker 2: the conversation. To learn more, or get our free guides

26
00:01:44,160 --> 00:01:48,120
Speaker 2: or schedule a consultation, visit Kellyfinancial dot org or call

27
00:01:48,200 --> 00:01:50,840
Speaker 2: us at eighty eight eight eight hundred one eight eight one.

28
00:01:51,240 --> 00:01:54,680
Speaker 2: This is Safe Money Strategies. Next up Forever Young with

29
00:01:54,840 --> 00:01:57,440
Speaker 2: Kelly Kelly and myself William Kelly Junior.

30
00:02:02,320 --> 00:02:07,720
Speaker 3: Safe Money Strategies with William Kelly and Kelly Kelly eight

31
00:02:07,840 --> 00:02:13,480
Speaker 3: hundred eighteen eighty one.

32
00:02:14,400 --> 00:02:17,800
Speaker 4: Each week on Safe Money Strategies, we take a moment

33
00:02:17,880 --> 00:02:21,000
Speaker 4: to step back from the headlines and have a real conversation,

34
00:02:21,560 --> 00:02:24,560
Speaker 4: the kind you might have around the kitchen table. This

35
00:02:24,720 --> 00:02:27,320
Speaker 4: is the part of the show we call Forever Young.

36
00:02:27,760 --> 00:02:31,160
Speaker 4: It's where I sit down with my son, William Kelly Junior,

37
00:02:31,280 --> 00:02:34,000
Speaker 4: and we talk about life, what's going on in the world,

38
00:02:34,080 --> 00:02:37,359
Speaker 4: and our family and what really matters most when you're

39
00:02:37,360 --> 00:02:41,880
Speaker 4: planning for the future. Sometimes it's light, sometimes as thoughtful,

40
00:02:42,040 --> 00:02:43,280
Speaker 4: but it's always real.

41
00:02:43,760 --> 00:02:46,680
Speaker 5: Good morning, William. How are you mom?

42
00:02:46,720 --> 00:02:47,200
Speaker 1: I'm fine.

43
00:02:47,240 --> 00:02:48,520
Speaker 5: How are you I'm doing great.

44
00:02:48,960 --> 00:02:51,480
Speaker 2: That's awesome to hear. And what's also awesome to hear

45
00:02:52,120 --> 00:02:56,000
Speaker 2: is my book is it's flying off the shelf, ladies.

46
00:02:56,000 --> 00:02:57,399
Speaker 5: It sure is, William.

47
00:02:58,080 --> 00:03:01,200
Speaker 2: I will say those who have you who purchased it

48
00:03:01,200 --> 00:03:02,960
Speaker 2: on Amazon, first off, I want to say thank you

49
00:03:03,080 --> 00:03:05,839
Speaker 2: very much. You'll receive it a lot quicker if you're

50
00:03:05,880 --> 00:03:07,600
Speaker 2: in a rush to get the book on Amazon.

51
00:03:08,000 --> 00:03:09,080
Speaker 1: But that's a side note.

52
00:03:09,200 --> 00:03:12,359
Speaker 2: Don't be afraid to please leave a review, and that's

53
00:03:12,360 --> 00:03:15,079
Speaker 2: a great way to get some feedback. It also kind

54
00:03:15,080 --> 00:03:16,960
Speaker 2: of helps me see how you guys rate my book,

55
00:03:17,040 --> 00:03:20,400
Speaker 2: and it means a lot to me. And furthermore, if

56
00:03:20,400 --> 00:03:22,960
Speaker 2: you're awaiting a copy, our supplies are coming in. It

57
00:03:23,000 --> 00:03:25,120
Speaker 2: takes a bit longer to get author copies than it

58
00:03:25,160 --> 00:03:27,880
Speaker 2: does for you to get direct copies shipped to you

59
00:03:28,040 --> 00:03:32,040
Speaker 2: from Amazon for some reason. So those copies will be

60
00:03:32,080 --> 00:03:35,000
Speaker 2: coming in I'd say within the next coming weeks and

61
00:03:35,120 --> 00:03:38,520
Speaker 2: maybe even sooner than that. And I'm looking forward to

62
00:03:38,520 --> 00:03:42,120
Speaker 2: our event in December, early December, December sixth if I'm correct, right,

63
00:03:42,200 --> 00:03:45,680
Speaker 2: And what's the second on Saturday? I'm sorry, it's.

64
00:03:45,640 --> 00:03:49,960
Speaker 4: On Saturday and it's from eleven until one pm and

65
00:03:50,040 --> 00:03:54,440
Speaker 4: we'll have both offices open, that's right, Braintree and Burlington,

66
00:03:55,040 --> 00:03:59,600
Speaker 4: and we will be accepting unwrapped toys for our toy

67
00:03:59,680 --> 00:04:04,080
Speaker 4: drive and you will be in Burlington. I will be

68
00:04:04,160 --> 00:04:06,960
Speaker 4: in Burlington as well, and we'll be greeting people. It's

69
00:04:07,120 --> 00:04:10,320
Speaker 4: just drop by and we'll have like a gift bag

70
00:04:10,400 --> 00:04:13,040
Speaker 4: for you and you'll be signing books for those who

71
00:04:13,040 --> 00:04:13,680
Speaker 4: want a book.

72
00:04:14,160 --> 00:04:15,240
Speaker 1: And that's right.

73
00:04:15,280 --> 00:04:17,159
Speaker 2: If you come and drop off a toy, o gladly

74
00:04:17,240 --> 00:04:19,520
Speaker 2: sign a book for you and we'll hand you one.

75
00:04:19,880 --> 00:04:24,240
Speaker 4: And yes, yes, And our team will also be at

76
00:04:24,240 --> 00:04:27,520
Speaker 4: our brain Tree office if that office is more convenient

77
00:04:27,560 --> 00:04:30,560
Speaker 4: for you, and we'll have some of Bill William's books

78
00:04:30,560 --> 00:04:31,200
Speaker 4: there as well.

79
00:04:31,360 --> 00:04:35,320
Speaker 2: Oh yeah, absolutely, So come give to people who need toys,

80
00:04:35,880 --> 00:04:38,760
Speaker 2: especially kids who are a little unfortunate and can't get it,

81
00:04:38,800 --> 00:04:41,039
Speaker 2: so it would mean the world to them. Yes, and

82
00:04:41,640 --> 00:04:43,040
Speaker 2: it's Toys for Tots right.

83
00:04:43,320 --> 00:04:48,520
Speaker 4: No, it's actually Interfaith Social Services. Okay, it's the organization

84
00:04:48,720 --> 00:04:53,359
Speaker 4: that we have spent some time in their pantry.

85
00:04:53,520 --> 00:04:56,960
Speaker 2: I remember, yeah, I know, they're fantastic people. Oh my gosh.

86
00:04:57,000 --> 00:04:59,599
Speaker 2: You know, those folks are there on top of their game.

87
00:04:59,640 --> 00:05:02,560
Speaker 2: They know to run an organization. And I remember we

88
00:05:02,640 --> 00:05:05,800
Speaker 2: went to the food pantry. Yes, and I mean they

89
00:05:05,839 --> 00:05:06,800
Speaker 2: have as system, so we.

90
00:05:06,800 --> 00:05:08,120
Speaker 5: Worked to like four hours.

91
00:05:08,279 --> 00:05:09,679
Speaker 2: Yeah, it was a decent chunk.

92
00:05:09,880 --> 00:05:10,799
Speaker 5: Yes, it was great.

93
00:05:10,839 --> 00:05:12,320
Speaker 2: I think we're going to do it again because we

94
00:05:12,360 --> 00:05:16,480
Speaker 2: really honestly, it's very satisfying. They do a fantastic I

95
00:05:16,480 --> 00:05:18,960
Speaker 2: think they help a lot of people. They do, They

96
00:05:19,000 --> 00:05:22,080
Speaker 2: truly do. I mean you're just serving car after car,

97
00:05:22,279 --> 00:05:23,200
Speaker 2: person after person.

98
00:05:23,240 --> 00:05:26,640
Speaker 5: If they don't have a car, you were delivering it outside.

99
00:05:26,520 --> 00:05:28,760
Speaker 2: Right, Well, you do it outside and then you also

100
00:05:28,800 --> 00:05:31,159
Speaker 2: come and you refill the car. So you do it

101
00:05:31,160 --> 00:05:33,960
Speaker 2: in shopping carts. You fill up the cart and then

102
00:05:33,960 --> 00:05:35,640
Speaker 2: you bring it around the circle. It's kind of like

103
00:05:35,680 --> 00:05:38,560
Speaker 2: a conveyor belt system. And you exit the building, you

104
00:05:38,600 --> 00:05:40,599
Speaker 2: go over to the car, you fill the car, you

105
00:05:40,640 --> 00:05:43,000
Speaker 2: pack it up for them. So you tell them stay

106
00:05:43,040 --> 00:05:46,040
Speaker 2: in the car, don't leave the car, stay in there

107
00:05:47,000 --> 00:05:48,880
Speaker 2: because sometimes they'll get out, they'll feel bad and they

108
00:05:48,880 --> 00:05:51,280
Speaker 2: want to help out. But first off, we want to

109
00:05:51,320 --> 00:05:54,440
Speaker 2: do the service, and then second off, it also actually

110
00:05:54,560 --> 00:05:56,520
Speaker 2: saves more time if we just do everything and you

111
00:05:56,600 --> 00:05:59,000
Speaker 2: go so, you know, because there are a lot of

112
00:05:59,120 --> 00:06:00,440
Speaker 2: you know, mouths, We get a feet, a lot of

113
00:06:00,440 --> 00:06:02,200
Speaker 2: food we got to give away, so it's you know,

114
00:06:02,240 --> 00:06:05,480
Speaker 2: it's just bang bang bang bang bang. So but anyways,

115
00:06:05,480 --> 00:06:07,200
Speaker 2: what I'm trying to say, they're amazing people.

116
00:06:07,160 --> 00:06:09,400
Speaker 5: And yes, a great organization.

117
00:06:09,520 --> 00:06:11,599
Speaker 2: Yes, so your your toys are going to a good place.

118
00:06:12,600 --> 00:06:16,800
Speaker 5: True, true, so exciting. So what else? What else? We've

119
00:06:16,839 --> 00:06:18,520
Speaker 5: got Thanksgiving coming up?

120
00:06:18,680 --> 00:06:21,600
Speaker 2: That's right, that's gonna be a big deal. Yes, we're

121
00:06:21,600 --> 00:06:27,120
Speaker 2: gonna have some turkey, No Kooner's this time. Family, yes, yes,

122
00:06:27,240 --> 00:06:28,960
Speaker 2: and it'll just be.

123
00:06:28,960 --> 00:06:30,799
Speaker 5: A Canadian family, that's.

124
00:06:30,680 --> 00:06:34,039
Speaker 2: Right, the small family unit. John might be joining us,

125
00:06:34,080 --> 00:06:37,440
Speaker 2: we'll see, yes, good, Yes, so whatever meal is going

126
00:06:37,520 --> 00:06:38,760
Speaker 2: to be cooked, it is going to be delicious of

127
00:06:38,800 --> 00:06:39,720
Speaker 2: John's joining.

128
00:06:39,520 --> 00:06:42,880
Speaker 5: Us, Yes, so, and he'll meet Mary. Madlin's a boyfriend.

129
00:06:43,080 --> 00:06:44,440
Speaker 2: Oh, Timmy, Timmy's coming up.

130
00:06:45,720 --> 00:06:46,680
Speaker 5: You are hilarious.

131
00:06:46,720 --> 00:06:48,680
Speaker 2: Timmy's not his real name. Timmy is what we call

132
00:06:48,760 --> 00:06:52,720
Speaker 2: him on the show to protect his identity because I

133
00:06:52,720 --> 00:06:54,880
Speaker 2: don't want anything bad happening to Timmy. I don't want

134
00:06:54,880 --> 00:06:56,360
Speaker 2: to do him. He's a great guy.

135
00:06:56,920 --> 00:06:59,240
Speaker 5: Oh you're funny you two team up.

136
00:06:59,480 --> 00:07:03,200
Speaker 2: Oh yeah, absolutely, And I'm very I'm grateful for Timmy

137
00:07:03,200 --> 00:07:07,080
Speaker 2: because you know, he has the intellectual capacity to kind of,

138
00:07:07,279 --> 00:07:09,560
Speaker 2: you know, work with me and to get you know,

139
00:07:09,640 --> 00:07:12,480
Speaker 2: to how to dig very madeline a little bit. So

140
00:07:13,240 --> 00:07:15,440
Speaker 2: I'm very grateful for you know, him in our lives.

141
00:07:15,440 --> 00:07:17,800
Speaker 2: He's also a fantastic guy. He's just a down earth been,

142
00:07:17,920 --> 00:07:20,240
Speaker 2: very humble, very sure of himself.

143
00:07:20,400 --> 00:07:20,760
Speaker 6: He is.

144
00:07:20,920 --> 00:07:25,800
Speaker 2: Oh yeah, no, he's he's a great guy. And I

145
00:07:25,800 --> 00:07:28,800
Speaker 2: think we're gonna have a great Thanksgiving together. I'm excited

146
00:07:28,800 --> 00:07:29,920
Speaker 2: for that, agreed.

147
00:07:30,360 --> 00:07:31,560
Speaker 5: I know we'll have good food.

148
00:07:31,760 --> 00:07:32,520
Speaker 2: Oh yeah, we will.

149
00:07:32,760 --> 00:07:34,480
Speaker 5: And there'll be plenty of dogs here.

150
00:07:34,840 --> 00:07:37,880
Speaker 2: Oh jeez, I forgot about that. That's gonna be a

151
00:07:37,880 --> 00:07:38,240
Speaker 2: lot of fun.

152
00:07:38,280 --> 00:07:41,680
Speaker 4: We'll have Georgia, of course, you're the queen, Mallie.

153
00:07:41,960 --> 00:07:42,480
Speaker 2: That's right.

154
00:07:42,680 --> 00:07:46,680
Speaker 5: We'll be calming and John's dog, Mamie.

155
00:07:47,000 --> 00:07:50,800
Speaker 2: Oh boy, you don't know if Timmy's bringing his dogs. Yes, yeah,

156
00:07:50,920 --> 00:07:56,480
Speaker 2: So those those puppies, I'll say this, they're great dogs.

157
00:07:57,400 --> 00:08:00,080
Speaker 2: But there's this one who is a little large and

158
00:08:00,120 --> 00:08:02,520
Speaker 2: he's still a puppy, and so he's a little wild.

159
00:08:02,560 --> 00:08:04,760
Speaker 2: He doesn't have a bad bone in his body, don't

160
00:08:04,760 --> 00:08:08,280
Speaker 2: get me wrong. He's a great dog, but he may

161
00:08:08,400 --> 00:08:10,880
Speaker 2: you know, wag that tail a little too hard, break something,

162
00:08:11,400 --> 00:08:13,920
Speaker 2: chip something. You know, he's running around.

163
00:08:13,920 --> 00:08:15,160
Speaker 1: He's just he's a big dog.

164
00:08:15,200 --> 00:08:16,920
Speaker 2: He's kind of like a Doberman mix. You know, he

165
00:08:16,920 --> 00:08:20,679
Speaker 2: needs to go outside and run. He pounds, yeah, eighty

166
00:08:20,680 --> 00:08:24,680
Speaker 2: five pounds of flailing limbs, as Timmy puts it. And

167
00:08:24,840 --> 00:08:27,480
Speaker 2: now the other dog, she's kind of a like a

168
00:08:27,520 --> 00:08:31,280
Speaker 2: street month. She's a rescue. It's just the sweetest angel.

169
00:08:31,280 --> 00:08:33,640
Speaker 2: And Planet Earth reminds me of Dixie a lot our

170
00:08:33,679 --> 00:08:36,839
Speaker 2: our our old car and terrier who passed away. And

171
00:08:37,600 --> 00:08:40,880
Speaker 2: she just she just is such a love bug, super grateful,

172
00:08:41,200 --> 00:08:44,600
Speaker 2: loves to play. Just not as wild as the first dog.

173
00:08:45,160 --> 00:08:47,800
Speaker 2: So you know, hopefully the first one will maybe be

174
00:08:47,880 --> 00:08:49,720
Speaker 2: out his mom's farm or something like that.

175
00:08:50,120 --> 00:08:51,880
Speaker 5: But he would be the one to take the turkey

176
00:08:51,920 --> 00:08:52,640
Speaker 5: off the table.

177
00:08:52,720 --> 00:08:55,000
Speaker 2: He would he would eat the whole thing. Yes, and

178
00:08:55,240 --> 00:08:58,000
Speaker 2: like I could so see that in under fifteen minutes,

179
00:08:58,040 --> 00:09:00,760
Speaker 2: maybe even five, he'd eat the whole turkey. I completely

180
00:09:00,800 --> 00:09:04,280
Speaker 2: believe it. Bones maybe even less couple bones. True. Yeah,

181
00:09:04,559 --> 00:09:07,400
Speaker 2: he'll jump on the counter, he'll get it. So that's

182
00:09:07,440 --> 00:09:13,200
Speaker 2: our Thanksgiving plan. That dog sadly will be banned. No

183
00:09:13,320 --> 00:09:16,480
Speaker 2: big dog, No Benji, It's going to be sad. So

184
00:09:16,520 --> 00:09:19,600
Speaker 2: we'll see anyways, sort thing. We hope everybody has a

185
00:09:19,720 --> 00:09:21,160
Speaker 2: happy Thanksgiving.

186
00:09:20,960 --> 00:09:24,720
Speaker 4: Absolutely, and do keep us on your dial. We've got

187
00:09:24,760 --> 00:09:27,680
Speaker 4: a lot of great content coming your way. Mike do

188
00:09:27,880 --> 00:09:31,200
Speaker 4: Set and Greg Workman will break down whether today's market

189
00:09:31,360 --> 00:09:36,880
Speaker 4: is truly overheated and what smart positioning looks like right now. Mary,

190
00:09:36,920 --> 00:09:40,520
Speaker 4: Madeline Kelly and Greg Murray will share the latest updates

191
00:09:40,559 --> 00:09:43,719
Speaker 4: to for A one K catch up contributions and what

192
00:09:43,760 --> 00:09:47,880
Speaker 4: these changes could mean for your retirement strategy. I will

193
00:09:47,920 --> 00:09:50,680
Speaker 4: be back with William and we will talk about how

194
00:09:50,880 --> 00:09:56,240
Speaker 4: real life planning gives families clarity, confidence and a path forward.

195
00:09:56,679 --> 00:09:59,440
Speaker 4: And of course we'll close the hour with some whip

196
00:09:59,559 --> 00:10:02,600
Speaker 4: and whizdo them from the late Bill Kelly. His words

197
00:10:02,679 --> 00:10:06,720
Speaker 4: continue to inspire and guide us. That's a wrap for forever.

198
00:10:06,840 --> 00:10:09,680
Speaker 4: Young Thank you for listening, and William, thank you for

199
00:10:09,800 --> 00:10:10,320
Speaker 4: joining me.

200
00:10:10,520 --> 00:10:14,079
Speaker 5: We'll be back with more great content. I love you, honey,

201
00:10:14,160 --> 00:10:14,880
Speaker 5: I love you too.

202
00:10:15,440 --> 00:10:18,040
Speaker 7: Oh ye.

203
00:10:22,080 --> 00:10:26,720
Speaker 3: Kelly Financial Services eight eight hundred, eighteen eighty one.

204
00:10:27,400 --> 00:10:30,880
Speaker 1: I believe that this nation should commit it so achieving the.

205
00:10:30,840 --> 00:10:34,000
Speaker 8: Goal of landing a man on the Moon and returning

206
00:10:34,040 --> 00:10:35,760
Speaker 8: him safely to the Earth.

207
00:10:36,320 --> 00:10:43,840
Speaker 9: Six five four three two one zero All engine run.

208
00:10:44,720 --> 00:10:46,800
Speaker 2: Looked d look that follow up?

209
00:10:47,120 --> 00:10:51,720
Speaker 9: Remember those Apollo Moon missions? One of America's greatest adventures

210
00:10:51,760 --> 00:10:55,719
Speaker 9: and achievements too. The nation set a goal and then

211
00:10:55,800 --> 00:11:00,000
Speaker 9: realized it. What are your goals at Kelly Financial Services

212
00:11:00,120 --> 00:11:03,319
Speaker 9: is We've got the right team and technology to help

213
00:11:03,400 --> 00:11:06,880
Speaker 9: launch your retirement planning. Let us help you set and

214
00:11:06,960 --> 00:11:11,280
Speaker 9: reach your goals for your greatest adventure and achievement. Call

215
00:11:11,360 --> 00:11:13,959
Speaker 9: us at eight eight eight eight hundred and eighteen eighty

216
00:11:14,000 --> 00:11:17,280
Speaker 9: one or visit us at Kellyfinancial dot org.

217
00:11:17,640 --> 00:11:18,280
Speaker 1: Where do you.

218
00:11:18,280 --> 00:11:21,800
Speaker 9: Want to land with a tanguality behavior the.

219
00:11:21,880 --> 00:11:22,760
Speaker 5: Ankle I landed.

220
00:11:22,960 --> 00:11:26,480
Speaker 9: We are Kelly Financial Services. Come retire with us.

221
00:11:27,360 --> 00:11:31,280
Speaker 10: Okay, my friends, we all talk about planning for retirement,

222
00:11:31,360 --> 00:11:33,760
Speaker 10: but let's be honest. For most people, it's not the

223
00:11:33,840 --> 00:11:35,520
Speaker 10: numbers that keep you up at night.

224
00:11:36,120 --> 00:11:37,160
Speaker 1: It's the fear.

225
00:11:37,840 --> 00:11:41,679
Speaker 10: Fear of the market, fear of outliving your savings, fear

226
00:11:41,679 --> 00:11:45,360
Speaker 10: of the unknown. And that's why Kelly Kelly, the CEO

227
00:11:45,480 --> 00:11:49,360
Speaker 10: of Kelly Financial Services, wrote the book Retire your Fear,

228
00:11:49,440 --> 00:11:53,280
Speaker 10: Plan your future. It is not your typical financial guide

229
00:11:53,280 --> 00:11:56,960
Speaker 10: full of industry jargon. It's about the reality. So many

230
00:11:57,040 --> 00:12:01,960
Speaker 10: retirees face life changes like wadohood, longevity, even planning for

231
00:12:02,000 --> 00:12:05,120
Speaker 10: your own future and how to navigate them with clarity

232
00:12:05,160 --> 00:12:09,240
Speaker 10: and confidence. For more than two decades, Kelly Financial has

233
00:12:09,240 --> 00:12:13,320
Speaker 10: helped you England families prepare for retirement through education and

234
00:12:13,440 --> 00:12:18,560
Speaker 10: sound financial planning. Now Kelly has gathered that insight into

235
00:12:18,720 --> 00:12:22,079
Speaker 10: one easy to read book. So take the next step

236
00:12:22,120 --> 00:12:26,720
Speaker 10: toward understanding your options. Call Kelly Financial now eight eight

237
00:12:26,800 --> 00:12:30,559
Speaker 10: eight eight hundred eighteen eighty one get your free copy

238
00:12:30,600 --> 00:12:33,760
Speaker 10: of Retire Your Fear, Plan Your Future eight eight eight

239
00:12:33,920 --> 00:12:38,480
Speaker 10: eight hundred eighteen eighty one, or emailed Kelly at Kelly

240
00:12:38,600 --> 00:12:40,240
Speaker 10: Financial dot org.

241
00:12:41,920 --> 00:12:44,439
Speaker 8: Welcome back to Safe Money Strategies, the show where we

242
00:12:44,600 --> 00:12:45,959
Speaker 8: help you build confidence in.

243
00:12:45,920 --> 00:12:47,079
Speaker 1: Your financial future.

244
00:12:47,360 --> 00:12:50,920
Speaker 8: I'm Mike, you said, chief operating officer at Kelly Financial,

245
00:12:51,120 --> 00:12:51,640
Speaker 8: and I'm.

246
00:12:51,480 --> 00:12:56,560
Speaker 1: Greg Workman, investment advisor at Kelly Financial Services. Mike. This

247
00:12:56,679 --> 00:12:59,520
Speaker 1: week we are diving into a question that is on

248
00:12:59,600 --> 00:13:04,439
Speaker 1: a lot of investors' minds right now. Is the market overheated?

249
00:13:04,600 --> 00:13:07,240
Speaker 8: It's a great question, Greg, and honestly one that we're

250
00:13:07,280 --> 00:13:10,560
Speaker 8: hearing more and more we've had an incredible run. The

251
00:13:10,640 --> 00:13:12,719
Speaker 8: s and P five hundred has pushed to levels that

252
00:13:12,760 --> 00:13:15,320
Speaker 8: are making a lot of folks a little uneasy. Some

253
00:13:15,400 --> 00:13:19,040
Speaker 8: analysts say valuations is stretched, others think the growth story

254
00:13:19,080 --> 00:13:19,880
Speaker 8: still has legs.

255
00:13:20,080 --> 00:13:20,360
Speaker 11: Right.

256
00:13:20,440 --> 00:13:23,319
Speaker 1: It's one of those rare times when both bulls and

257
00:13:23,360 --> 00:13:27,439
Speaker 1: the bears can make a pretty convincing case. The key

258
00:13:27,559 --> 00:13:32,080
Speaker 1: for our listeners is understanding where the risk is, what's

259
00:13:32,280 --> 00:13:36,760
Speaker 1: driving today's market, and how to think about positioning your assets,

260
00:13:37,440 --> 00:13:43,000
Speaker 1: especially for those approaching or already in retirement. So let's

261
00:13:43,000 --> 00:13:44,319
Speaker 1: start with the valuations.

262
00:13:44,640 --> 00:13:47,800
Speaker 8: Historically, we look at the market's price to earnings ratios

263
00:13:47,840 --> 00:13:50,239
Speaker 8: to get a sense of whether we're in normal territory

264
00:13:50,679 --> 00:13:52,880
Speaker 8: or in the price for perfection zone.

265
00:13:52,880 --> 00:13:56,200
Speaker 1: Exactly, and right now, a lot of those models, like

266
00:13:56,400 --> 00:14:01,600
Speaker 1: the cyclically adjusted price to earnings ratio or CAPE ratio,

267
00:14:02,240 --> 00:14:05,880
Speaker 1: they're flashing red or at least bright yellow. One mean

268
00:14:05,960 --> 00:14:10,640
Speaker 1: reversion model shows the SNP five hundred trading about seventy

269
00:14:10,840 --> 00:14:15,240
Speaker 1: three percent above its long term trend, which is roughly

270
00:14:15,360 --> 00:14:20,120
Speaker 1: two standard deviations above normal range. That's pretty significant.

271
00:14:20,240 --> 00:14:22,440
Speaker 8: It doesn't mean the market's about to fall off a

272
00:14:22,480 --> 00:14:25,440
Speaker 8: cliff tomorrow, but it tells us that prices are running

273
00:14:25,480 --> 00:14:28,760
Speaker 8: ahead of fundamentals. In other words, investors are paying a

274
00:14:28,800 --> 00:14:33,440
Speaker 8: premium today based on some very optimistic expectations above future earnings.

275
00:14:33,520 --> 00:14:36,280
Speaker 1: And when you buy stocks at high valuations, you're basically

276
00:14:36,320 --> 00:14:40,440
Speaker 1: assuming that everything has to go right. The economy stays strong,

277
00:14:40,600 --> 00:14:45,720
Speaker 1: inflation behaves, interest rates come down, earnings they keep growing.

278
00:14:46,080 --> 00:14:49,960
Speaker 1: There's not much room for error built into prices right now.

279
00:14:50,320 --> 00:14:51,080
Speaker 1: That's the risk.

280
00:14:51,320 --> 00:14:55,360
Speaker 8: High valuations tend to mean lower future returns. Not necessarily

281
00:14:55,400 --> 00:14:59,520
Speaker 8: in imminent crash, but historically markets that are this stretched

282
00:14:59,600 --> 00:15:01,240
Speaker 8: have a time compounding.

283
00:15:01,240 --> 00:15:04,400
Speaker 1: From here, the other dynamic here, Mike, is how concentrated

284
00:15:04,440 --> 00:15:08,720
Speaker 1: this market has become. The so called Magnificent seven, the

285
00:15:08,720 --> 00:15:11,400
Speaker 1: big tech in AI names, while they now make up

286
00:15:11,480 --> 00:15:15,960
Speaker 1: roughly thirty seven percent of the S and p's total weight. Yeah,

287
00:15:16,000 --> 00:15:17,560
Speaker 1: that's staggering. Think about it.

288
00:15:17,720 --> 00:15:20,800
Speaker 8: Seven companies making up over a third of a five

289
00:15:20,880 --> 00:15:24,640
Speaker 8: hundred stock index. It means that the SNP's performance is

290
00:15:24,720 --> 00:15:27,840
Speaker 8: really being driven by very small number of stocks.

291
00:15:28,120 --> 00:15:32,040
Speaker 1: And the issue there is diversification risk. If one or

292
00:15:32,120 --> 00:15:37,360
Speaker 1: two of those names stumble, say Inerningsmiths, a new regulation,

293
00:15:38,000 --> 00:15:41,720
Speaker 1: or just a rotation out of technology, the whole Index

294
00:15:41,800 --> 00:15:44,440
Speaker 1: can feel it. Meanwhile, many of the other four hundred

295
00:15:44,480 --> 00:15:47,480
Speaker 1: and ninety three companies haven't really been contributing much to

296
00:15:47,560 --> 00:15:49,160
Speaker 1: this year's rally. That's right.

297
00:15:49,320 --> 00:15:51,680
Speaker 8: The headline numbers can make it look like the market's

298
00:15:51,720 --> 00:15:54,760
Speaker 8: strong across the board, but when you look under the hood,

299
00:15:54,960 --> 00:15:57,000
Speaker 8: participation has been pretty narrow.

300
00:15:57,160 --> 00:16:00,040
Speaker 1: It's kind of like a football team where only a

301
00:16:00,040 --> 00:16:03,720
Speaker 1: a few star players are carrying the ball every single game.

302
00:16:04,080 --> 00:16:06,800
Speaker 1: It works as long as those players stay healthy and

303
00:16:06,880 --> 00:16:10,440
Speaker 1: they keep scoring, but if they get injured or tired,

304
00:16:10,840 --> 00:16:12,800
Speaker 1: the whole team's performance suffers.

305
00:16:12,920 --> 00:16:15,280
Speaker 8: It makes me think of the Boston Celtics last season.

306
00:16:15,480 --> 00:16:17,960
Speaker 8: Everything was looking great and they were well on their

307
00:16:18,000 --> 00:16:20,600
Speaker 8: way to winning another title until Jason Tatum went down

308
00:16:20,640 --> 00:16:24,680
Speaker 8: with an injury and those expectations changed overnight. For investors,

309
00:16:25,080 --> 00:16:28,000
Speaker 8: that means if you're simply buying the Index, you might

310
00:16:28,000 --> 00:16:31,240
Speaker 8: be taken on more concentrated risk than you realize now.

311
00:16:31,280 --> 00:16:35,320
Speaker 1: To be fair, part of what's keeping valuations high is

312
00:16:35,360 --> 00:16:39,400
Speaker 1: the belief that technology and AI will drive a new

313
00:16:39,440 --> 00:16:44,040
Speaker 1: wave of productivity and earnings growth. Companies are spending heavily

314
00:16:44,440 --> 00:16:49,800
Speaker 1: billions in capital expenditures on data centers, chips, infrastructure, and

315
00:16:49,960 --> 00:16:53,760
Speaker 1: investors are betting that those investments will pay off big.

316
00:16:53,560 --> 00:16:56,800
Speaker 8: It's the engine behind a lot of today's optimism. Tech

317
00:16:56,800 --> 00:17:00,800
Speaker 8: companies now account for roughly thirty percent of SMP five

318
00:17:00,880 --> 00:17:04,480
Speaker 8: hundred earnings growth, compared to just ten percent only two

319
00:17:04,480 --> 00:17:05,240
Speaker 8: decades ago.

320
00:17:05,520 --> 00:17:08,520
Speaker 1: That's a huge shift, it is, but it also comes

321
00:17:08,560 --> 00:17:13,840
Speaker 1: with risk. Those massive capital investments assume that the growth

322
00:17:13,960 --> 00:17:18,760
Speaker 1: does arrive, that AI actually delivers on its promises, that

323
00:17:18,800 --> 00:17:23,639
Speaker 1: these technologies scale efficiently, and that costs don't continue to

324
00:17:23,680 --> 00:17:26,720
Speaker 1: spiral out of control. And that's not guaranteed.

325
00:17:26,800 --> 00:17:31,520
Speaker 8: If the growth slows or earnings don't meet expectations, Suddenly

326
00:17:31,600 --> 00:17:36,320
Speaker 8: those lofty valuations look very expensive. The market's priced for perfection,

327
00:17:36,600 --> 00:17:38,760
Speaker 8: but execution risk is high.

328
00:17:38,880 --> 00:17:41,840
Speaker 1: That's where investors can get caught off guard when the

329
00:17:41,880 --> 00:17:46,320
Speaker 1: story shifts from incredible growth ahead to we might have

330
00:17:46,440 --> 00:17:50,359
Speaker 1: overpaid for that growth. So we've got a few ingredients here.

331
00:17:50,600 --> 00:17:56,040
Speaker 8: High valuations, narrow leadership, and huge expectations around tech and AI.

332
00:17:56,480 --> 00:17:59,359
Speaker 8: That combination can make the market more fragile than it looks.

333
00:17:59,600 --> 00:17:59,840
Speaker 11: Right.

334
00:18:00,040 --> 00:18:03,439
Speaker 1: It's a double risk scenario. You've got limited margin for

335
00:18:03,640 --> 00:18:07,840
Speaker 1: error and a lot of dependence on a handful of names.

336
00:18:08,240 --> 00:18:11,840
Speaker 1: If any part of that story weakens, whether it's earnings,

337
00:18:12,119 --> 00:18:16,720
Speaker 1: regulation or investor sentiment, the premium that's baked in can

338
00:18:16,760 --> 00:18:18,480
Speaker 1: evaporate quickly.

339
00:18:18,200 --> 00:18:21,199
Speaker 8: Which is why from a safe money perspective, this is

340
00:18:21,280 --> 00:18:25,639
Speaker 8: a time for thoughtful positioning, not panic, not overreaction, but awareness.

341
00:18:26,080 --> 00:18:29,160
Speaker 8: You can't control the market, but you can control how

342
00:18:29,240 --> 00:18:30,440
Speaker 8: exposed you are to it.

343
00:18:30,600 --> 00:18:36,040
Speaker 1: Absolutely, It's about being selective, balancing risk assets with safer

344
00:18:36,160 --> 00:18:42,080
Speaker 1: income producing ones, diversifying across sectors, and maybe dialing back

345
00:18:42,160 --> 00:18:46,359
Speaker 1: exposure to areas that have run too far, too fast.

346
00:18:46,600 --> 00:18:49,280
Speaker 8: In the second half of today's show, we'll look at

347
00:18:49,280 --> 00:18:53,000
Speaker 8: the Bull and Baar cases, what could drive the market

348
00:18:53,080 --> 00:18:55,960
Speaker 8: higher from here, what could kno get off balance, and

349
00:18:56,040 --> 00:18:59,120
Speaker 8: some smart strategies to position yourself either way.

350
00:18:59,280 --> 00:19:03,000
Speaker 1: Plus we'll talk talk about some practical steps retirees and

351
00:19:03,160 --> 00:19:06,439
Speaker 1: pre retirees can take right now to help protect what

352
00:19:06,480 --> 00:19:10,600
Speaker 1: they've built, and how our Safe Money Strategies workbook can

353
00:19:10,640 --> 00:19:14,040
Speaker 1: help you evaluate your exposure stick around. We'll be right

354
00:19:14,080 --> 00:19:15,400
Speaker 1: back after the short break.

355
00:19:19,320 --> 00:19:25,520
Speaker 3: Kelly Financial Services eight eight hundred, eighteen eighty one.

356
00:19:25,800 --> 00:19:28,600
Speaker 9: I'm John Boudris, and welcome to a new edition of

357
00:19:28,680 --> 00:19:32,240
Speaker 9: Kelly Financials. What would Bill say the wit and wisdom

358
00:19:32,320 --> 00:19:36,520
Speaker 9: of the late Bill Kelly. Today we'll address fact from fiction.

359
00:19:37,000 --> 00:19:39,199
Speaker 12: You can always make money if you haven't if you

360
00:19:39,280 --> 00:19:41,959
Speaker 12: lose it all, It's very difficult to do that. So

361
00:19:42,000 --> 00:19:44,240
Speaker 12: you have to have a plan. If the market goes

362
00:19:44,680 --> 00:19:46,879
Speaker 12: up quite a bit or down quite a bit, you

363
00:19:47,000 --> 00:19:49,320
Speaker 12: have to be ready. And how do you sort fact

364
00:19:49,400 --> 00:19:49,960
Speaker 12: from fiction?

365
00:19:50,240 --> 00:19:54,840
Speaker 9: Download Kelly Financial's consumer guide, simply called the Value of.

366
00:19:54,800 --> 00:19:56,200
Speaker 1: An Objective Opinion.

367
00:19:56,440 --> 00:20:00,040
Speaker 9: With so much at steak with your retirement future, I

368
00:20:00,040 --> 00:20:04,840
Speaker 9: don't just want any financial advice, but objective financial advice,

369
00:20:05,160 --> 00:20:09,480
Speaker 9: and as a fiduciary, Kelly Financial puts your interests above

370
00:20:09,600 --> 00:20:13,840
Speaker 9: all else. Go to Kellyfinancial dot org or call eight

371
00:20:13,840 --> 00:20:17,120
Speaker 9: eight eight eight hundred eighteen eighty one to get the guide.

372
00:20:17,200 --> 00:20:19,520
Speaker 1: Ladies and gentlemen sort fact from fiction.

373
00:20:19,680 --> 00:20:23,320
Speaker 9: We are Kelly Financial Services. Come retire with us.

374
00:20:24,440 --> 00:20:28,400
Speaker 4: I'm Kelly Kelly from Kelly Financial. Is your financial advisor

375
00:20:28,480 --> 00:20:32,159
Speaker 4: a fiduciary? In other words, are they legally required to

376
00:20:32,320 --> 00:20:36,560
Speaker 4: act in your best interest? My complimentary book, Retire Your Fear,

377
00:20:36,680 --> 00:20:40,160
Speaker 4: Plan Your Future explains what a fiduciary is and will

378
00:20:40,200 --> 00:20:43,480
Speaker 4: help you understand if an advisor is really putting you

379
00:20:43,560 --> 00:20:46,560
Speaker 4: first for the book call eight eight eight eight hundred

380
00:20:46,680 --> 00:20:50,960
Speaker 4: eighteen eighty one or email Kelly at Kelly Financial dot org.

381
00:20:51,080 --> 00:20:54,000
Speaker 5: We're Kelly Financial. Come retire with us.

382
00:20:55,000 --> 00:20:59,200
Speaker 3: The Money Wrap with Kelly Financial Advisors, Greg Murray and

383
00:20:59,280 --> 00:21:00,440
Speaker 3: Mary Mattline Kenny.

384
00:21:01,920 --> 00:21:02,200
Speaker 11: Hello.

385
00:21:02,400 --> 00:21:05,320
Speaker 6: This is Greg Murray, Senior vice president and Chief Compliance

386
00:21:05,320 --> 00:21:08,280
Speaker 6: Officer at Kelly Financial Services. Joining me today is Mary

387
00:21:08,320 --> 00:21:10,159
Speaker 6: Madeline Kelly, one of our wealth advisors.

388
00:21:10,160 --> 00:21:11,240
Speaker 1: How are you doing today, Hi?

389
00:21:11,400 --> 00:21:14,600
Speaker 7: Greg, I am doing great. Friends Giving was a success

390
00:21:14,720 --> 00:21:18,280
Speaker 7: last week. I always make my signature cornbread cast role

391
00:21:18,440 --> 00:21:21,040
Speaker 7: and it was a hit yet again. This time I

392
00:21:21,119 --> 00:21:24,480
Speaker 7: actually made two batches because it goes so fast that

393
00:21:24,560 --> 00:21:25,320
Speaker 7: people love it.

394
00:21:25,440 --> 00:21:27,199
Speaker 6: That is awesome to hear. It's going to be a

395
00:21:27,200 --> 00:21:30,000
Speaker 6: busy Thanksgiving week for me as well. We have Diane's

396
00:21:30,000 --> 00:21:32,600
Speaker 6: family Thanksgiving with thirty eight people coming, and then we

397
00:21:32,640 --> 00:21:34,840
Speaker 6: are going to be with my family on Saturday, which

398
00:21:34,880 --> 00:21:37,000
Speaker 6: we will be hosting for the first time. And then

399
00:21:37,040 --> 00:21:39,199
Speaker 6: once we get through Thanksgiving, the race is on to

400
00:21:39,240 --> 00:21:39,880
Speaker 6: the end of the year.

401
00:21:40,040 --> 00:21:42,520
Speaker 7: Wow, thirty eight people sounds like a lot, but I'm

402
00:21:42,520 --> 00:21:44,919
Speaker 7: sure you guys will have a great time. And the

403
00:21:45,040 --> 00:21:47,080
Speaker 7: end of the year is the time when a lot

404
00:21:47,160 --> 00:21:50,920
Speaker 7: of people start reviewing their retirement plans and contributions, which

405
00:21:50,960 --> 00:21:54,080
Speaker 7: brings us right to today's topic, the changes coming to

406
00:21:54,119 --> 00:21:56,280
Speaker 7: four oh one K catch up contributions.

407
00:21:56,440 --> 00:21:58,960
Speaker 6: That's right, and these updates have caused a lot of confusion,

408
00:21:59,080 --> 00:22:02,360
Speaker 6: so let's break them down. Catchup contributions are extra amounts

409
00:22:02,359 --> 00:22:04,200
Speaker 6: you can put into your four oh one K once

410
00:22:04,240 --> 00:22:06,600
Speaker 6: you turn fifty. It's a great way for people nearing

411
00:22:06,640 --> 00:22:08,240
Speaker 6: retirement to boost their savings.

412
00:22:08,359 --> 00:22:12,359
Speaker 7: Exactly, for twenty twenty four, the catchup contribution limit is

413
00:22:12,440 --> 00:22:15,679
Speaker 7: seventy five hundred dollars on top of the regular twenty

414
00:22:15,680 --> 00:22:19,560
Speaker 7: three thousand dollars limit for employees under fifty, so if

415
00:22:19,600 --> 00:22:22,159
Speaker 7: you're fifty year older, you can put away up to

416
00:22:22,480 --> 00:22:24,919
Speaker 7: thirty thousand, five hundred dollars in total.

417
00:22:25,080 --> 00:22:27,440
Speaker 6: And the big change has been getting attention comes from

418
00:22:27,480 --> 00:22:30,399
Speaker 6: Secure Act two point zero. Originally, it's said that higher

419
00:22:30,440 --> 00:22:32,480
Speaker 6: earners and when making more than one hundred and forty

420
00:22:32,480 --> 00:22:34,480
Speaker 6: five thousand dollars a year would have to make their

421
00:22:34,560 --> 00:22:37,560
Speaker 6: catchup contributions are rough four a one K instead of

422
00:22:37,640 --> 00:22:38,360
Speaker 6: pre tax.

423
00:22:38,160 --> 00:22:41,240
Speaker 7: For a one K, yes, meaning those contributions would no

424
00:22:41,359 --> 00:22:44,680
Speaker 7: longer be tax deductible up front. But the withdrawals and

425
00:22:44,760 --> 00:22:47,919
Speaker 7: retirement would be tax free. It's a shift from tax

426
00:22:48,000 --> 00:22:51,160
Speaker 7: now or tax later, and it really affects how people

427
00:22:51,200 --> 00:22:52,800
Speaker 7: think about saving exactly.

428
00:22:53,040 --> 00:22:55,800
Speaker 6: That rule was supposed to take effect in twenty twenty four,

429
00:22:55,960 --> 00:22:58,879
Speaker 6: but the IRS recently announced a two year delay, so

430
00:22:59,119 --> 00:23:02,120
Speaker 6: won't kick in until twenty twenty six. That gives planned

431
00:23:02,119 --> 00:23:05,400
Speaker 6: administrators and participants a little more time to prepare.

432
00:23:05,359 --> 00:23:06,240
Speaker 5: And that's a big deal.

433
00:23:06,359 --> 00:23:09,320
Speaker 7: Because not every employer's plan currently offers a four oh

434
00:23:09,400 --> 00:23:12,560
Speaker 7: one K option. Some would have been scrambling to add

435
00:23:12,600 --> 00:23:15,560
Speaker 7: one this year. The delay gives everyone some breathing room.

436
00:23:15,680 --> 00:23:18,440
Speaker 6: It also gives investors time to think strategically about how

437
00:23:18,440 --> 00:23:21,040
Speaker 6: they want to allocate those savings. There's no one size

438
00:23:21,080 --> 00:23:23,680
Speaker 6: fits all answer. For someone in a high tax bracket

439
00:23:23,720 --> 00:23:26,880
Speaker 6: now but expecting lower taxes in retirement, the pre tax

440
00:23:26,960 --> 00:23:29,640
Speaker 6: rote might still make sense while it's available, and.

441
00:23:29,640 --> 00:23:32,840
Speaker 7: For others, especially younger boomers or Gen xers who think

442
00:23:32,920 --> 00:23:35,720
Speaker 7: tax rates will be higher in the future, the Wroth

443
00:23:35,800 --> 00:23:38,560
Speaker 7: option could be more attractive. You pay the taxes now,

444
00:23:38,960 --> 00:23:42,080
Speaker 7: let the money grow tax free, and then have flexibility

445
00:23:42,119 --> 00:23:44,080
Speaker 7: and retirement when it comes to withdrawals.

446
00:23:44,240 --> 00:23:47,480
Speaker 6: That's the key flexibility. Having both pre tax and Wroth

447
00:23:47,560 --> 00:23:49,959
Speaker 6: Savings gives the choices when it's time to draw income.

448
00:23:50,119 --> 00:23:52,760
Speaker 6: You can manage your tax bracket more efficiently by choosing

449
00:23:52,760 --> 00:23:54,240
Speaker 6: which accounts it take from each year.

450
00:23:54,400 --> 00:23:58,280
Speaker 7: And another change worth noting. Starting in twenty twenty five,

451
00:23:58,560 --> 00:24:02,000
Speaker 7: workers ages sixty to sixty three will get a special

452
00:24:02,240 --> 00:24:05,359
Speaker 7: super catch up contribution limit. They'll be able to contribute

453
00:24:05,440 --> 00:24:08,520
Speaker 7: up to ten thousand dollars more per year or one

454
00:24:08,560 --> 00:24:11,080
Speaker 7: hundred and fifty percent of the regular catch up limit,

455
00:24:11,200 --> 00:24:12,000
Speaker 7: whichever is greater.

456
00:24:12,200 --> 00:24:14,720
Speaker 6: That's a great opportunity for people in that final stretch

457
00:24:14,760 --> 00:24:17,879
Speaker 6: before retirement, when their expenses may be lower, kids are

458
00:24:17,880 --> 00:24:20,600
Speaker 6: out of college, and they finally have extra income to save.

459
00:24:20,920 --> 00:24:24,159
Speaker 7: Yes, and it really underscores the importance of reviewing your

460
00:24:24,200 --> 00:24:27,280
Speaker 7: retirement plan each year. So many people set up their

461
00:24:27,280 --> 00:24:30,600
Speaker 7: contribution percentage years ago and never look at it again.

462
00:24:30,920 --> 00:24:33,760
Speaker 1: But laws, limits and income levels.

463
00:24:33,520 --> 00:24:35,320
Speaker 6: Change, and the end of the year is the perfect

464
00:24:35,359 --> 00:24:38,359
Speaker 6: time to check those details, make sure you're contributing enough,

465
00:24:38,440 --> 00:24:40,400
Speaker 6: taking advantage of any employer.

466
00:24:40,000 --> 00:24:42,760
Speaker 1: Match, and planning for these upcoming rule changes.

467
00:24:42,840 --> 00:24:45,440
Speaker 7: And if you're self employed or running your own business,

468
00:24:45,640 --> 00:24:49,199
Speaker 7: there are similar opportunities in sep I raise or solo

469
00:24:49,280 --> 00:24:52,000
Speaker 7: for OH one case, so it's worth reviewing those as well.

470
00:24:52,119 --> 00:24:54,040
Speaker 6: So to sum it up for our listeners, here are

471
00:24:54,040 --> 00:24:55,560
Speaker 6: the key points in the four to oh one k

472
00:24:55,720 --> 00:24:58,720
Speaker 6: catch up contributions. One, if you're a fifty year older,

473
00:24:58,760 --> 00:25:02,359
Speaker 6: you can contribute an extra seven five hundred this year. Two,

474
00:25:02,600 --> 00:25:05,880
Speaker 6: the new rule requiring higher earners to make rough catchup

475
00:25:05,920 --> 00:25:09,639
Speaker 6: contributions has been delayed until next year. Three, starting in

476
00:25:09,680 --> 00:25:12,719
Speaker 6: twenty twenty five, workers age sixty to sixty three can

477
00:25:12,800 --> 00:25:14,760
Speaker 6: make even larger catchup contributions.

478
00:25:14,880 --> 00:25:18,160
Speaker 7: Perfect summary, and this is exactly the kind of planning

479
00:25:18,280 --> 00:25:21,080
Speaker 7: that can make a huge difference over time. A few

480
00:25:21,119 --> 00:25:24,359
Speaker 7: extra years of catchup contributions can add tens of thousands

481
00:25:24,359 --> 00:25:27,880
Speaker 7: of dollars and potentially thousands in future tax savings.

482
00:25:28,160 --> 00:25:30,600
Speaker 6: And that's where we can help. At Kelly Financial, we

483
00:25:30,640 --> 00:25:33,480
Speaker 6: sit down with clients look at their entire retirement picture,

484
00:25:33,720 --> 00:25:36,439
Speaker 6: not just how much they're saving, but where they're saving

485
00:25:36,560 --> 00:25:38,840
Speaker 6: and what makes the most tax sense for their situation.

486
00:25:39,000 --> 00:25:40,600
Speaker 1: Because at the end of the day, the.

487
00:25:40,600 --> 00:25:43,280
Speaker 7: Goal isn't just to save money, it's to make sure

488
00:25:43,280 --> 00:25:46,359
Speaker 7: your retirement dollars go as far as possible and you

489
00:25:46,520 --> 00:25:47,919
Speaker 7: keep more of what you've earned.

490
00:25:48,080 --> 00:25:49,840
Speaker 1: Well said, that's going to wrap things up.

491
00:25:49,960 --> 00:25:51,520
Speaker 6: If you'd like to review your four oh one K

492
00:25:51,680 --> 00:25:54,439
Speaker 6: or understand how these catchup changes affect you, give us

493
00:25:54,480 --> 00:25:56,159
Speaker 6: a call. We'd love to help you plan ahead for

494
00:25:56,280 --> 00:25:57,760
Speaker 6: twenty twenty five and beyond.

495
00:25:58,080 --> 00:26:01,400
Speaker 7: Absolutely well, Greg, They thank you for your time today,

496
00:26:01,600 --> 00:26:02,400
Speaker 7: and I hope you.

497
00:26:02,400 --> 00:26:03,439
Speaker 5: Enjoy the rest of your weekend.

498
00:26:03,760 --> 00:26:07,000
Speaker 3: To get in touch with Greg Murray or Mary, Madeline Kelly,

499
00:26:07,320 --> 00:26:10,640
Speaker 3: or any member of the Kelly Financial Team, call eight

500
00:26:10,920 --> 00:26:18,520
Speaker 3: eight eight hundred eighteen eighty one. Save Money Strategies with

501
00:26:18,560 --> 00:26:22,280
Speaker 3: William Kelly and Kelly Kelly. Call the team on eight

502
00:26:22,119 --> 00:26:25,120
Speaker 3: eight eight eight hundred, eighteen eighty.

503
00:26:24,800 --> 00:26:30,600
Speaker 5: One and we are back.

504
00:26:30,800 --> 00:26:33,600
Speaker 4: This is Kelly Kelly and I'm here with my son,

505
00:26:33,760 --> 00:26:35,280
Speaker 4: William Kelly Junior.

506
00:26:35,720 --> 00:26:38,160
Speaker 5: Today we are opening the door to a.

507
00:26:38,240 --> 00:26:42,000
Speaker 4: Message that means a great deal to me, a message

508
00:26:42,080 --> 00:26:45,000
Speaker 4: at the heart of my book. Retire your fear, Plan

509
00:26:45,160 --> 00:26:51,320
Speaker 4: your future because planning is not simply financial. Planning is emotional,

510
00:26:51,960 --> 00:26:55,160
Speaker 4: It is spiritual. It is a way of honoring your

511
00:26:55,200 --> 00:26:59,600
Speaker 4: responsibilities and giving yourself the freedom to live your life with.

512
00:26:59,600 --> 00:27:03,200
Speaker 2: Confide Absolutely Mom, And you know I've heard you share

513
00:27:03,200 --> 00:27:06,560
Speaker 2: this message for many years now, both with our listeners

514
00:27:06,640 --> 00:27:09,040
Speaker 2: and with families who come to our firm, and the

515
00:27:09,119 --> 00:27:12,800
Speaker 2: lesson is always the same. Life can change in an instant,

516
00:27:12,840 --> 00:27:15,320
Speaker 2: and the best time to plan is before life forces

517
00:27:15,359 --> 00:27:15,760
Speaker 2: your hand.

518
00:27:16,160 --> 00:27:20,080
Speaker 4: That is right when your father passed away, I became

519
00:27:20,320 --> 00:27:24,880
Speaker 4: a widow, a single mom, a client, and the CEO

520
00:27:25,040 --> 00:27:27,680
Speaker 4: of this firm, all on the same day.

521
00:27:28,119 --> 00:27:31,800
Speaker 5: It was probably the hardest moment of my life.

522
00:27:32,320 --> 00:27:35,480
Speaker 4: But because we had planned, I didn't have to rebuild

523
00:27:35,560 --> 00:27:40,760
Speaker 4: everything from scratch. The grief was enough, the financial fear

524
00:27:40,880 --> 00:27:44,439
Speaker 4: did not have to take over too. Planning allowed me

525
00:27:44,600 --> 00:27:48,800
Speaker 4: to lead with strength instead of panic. It allowed me

526
00:27:48,920 --> 00:27:52,000
Speaker 4: to be present for you and your sister, and that

527
00:27:52,200 --> 00:27:56,480
Speaker 4: is why I tell families plan for the event everyone

528
00:27:56,640 --> 00:28:00,280
Speaker 4: hopes never happens. You are not planning at a year.

529
00:28:00,400 --> 00:28:02,240
Speaker 4: You are planning out of love.

530
00:28:02,680 --> 00:28:06,440
Speaker 2: And that is something you always said that faith, family,

531
00:28:06,560 --> 00:28:09,120
Speaker 2: and foresight carry you through life storms.

532
00:28:09,320 --> 00:28:12,280
Speaker 4: They truly do, and planning is a part of that.

533
00:28:12,400 --> 00:28:18,840
Speaker 4: Foresight is what transforms uncertainty into direction. It is what

534
00:28:19,080 --> 00:28:24,320
Speaker 4: allows families to face tomorrow with gratitude instead of anxiety.

535
00:28:24,680 --> 00:28:27,520
Speaker 2: And something I see every day in our conversations at

536
00:28:27,560 --> 00:28:30,680
Speaker 2: the office is that no two plans ever look the same.

537
00:28:30,720 --> 00:28:36,919
Speaker 4: Exactly everyone's plan is unique because everyone's goals are unique,

538
00:28:37,119 --> 00:28:40,800
Speaker 4: but the need for a plan is universal. Whether you

539
00:28:40,840 --> 00:28:46,800
Speaker 4: are focused on income, social Security, taxes, healthcare, or simply

540
00:28:46,960 --> 00:28:51,000
Speaker 4: having enough to enjoy life. What matters most is that

541
00:28:51,040 --> 00:28:55,080
Speaker 4: you have outlined a roadmap. When you have a process,

542
00:28:55,280 --> 00:28:59,560
Speaker 4: instead of panic, you gain clarity. I always say planning

543
00:28:59,760 --> 00:29:04,360
Speaker 4: for this peace of mind. Once you have that solid foundation,

544
00:29:04,600 --> 00:29:06,200
Speaker 4: you are not guessing anymore.

545
00:29:06,400 --> 00:29:07,120
Speaker 5: You are living.

546
00:29:07,440 --> 00:29:09,960
Speaker 1: And that brings us to the next piece. How long

547
00:29:10,000 --> 00:29:11,280
Speaker 1: does your plan need to last?

548
00:29:11,560 --> 00:29:15,880
Speaker 4: Longevity is one of the biggest forces shaping retirement today.

549
00:29:16,520 --> 00:29:20,160
Speaker 4: People fear running out of money more than they fear dying,

550
00:29:20,600 --> 00:29:23,240
Speaker 4: and it makes sense. If you are sixty five today,

551
00:29:23,480 --> 00:29:27,640
Speaker 4: you could easily live another twenty to thirty years. That

552
00:29:27,760 --> 00:29:31,520
Speaker 4: is a long time to ensure your income lasts.

553
00:29:31,080 --> 00:29:35,560
Speaker 2: And inflation plays into that too, cost double roughly every

554
00:29:35,600 --> 00:29:36,480
Speaker 2: twenty five years.

555
00:29:36,840 --> 00:29:38,560
Speaker 1: That is a huge factor in planning.

556
00:29:38,840 --> 00:29:41,960
Speaker 4: It certainly is, and longevity is not a problem, is

557
00:29:42,000 --> 00:29:45,800
Speaker 4: a blessing. It simply means the plan you create needs

558
00:29:45,840 --> 00:29:49,200
Speaker 4: to match the length of your life. That is why

559
00:29:49,400 --> 00:29:53,479
Speaker 4: income planning is so critical. You want to know that

560
00:29:53,520 --> 00:29:57,680
Speaker 4: your retirement is not built on hope, is built on structure.

561
00:29:58,080 --> 00:30:01,800
Speaker 2: You always remind listeners that uncertain andy is completely normal.

562
00:30:02,320 --> 00:30:05,320
Speaker 2: Even people who have saved well sometimes don't feel confident.

563
00:30:05,840 --> 00:30:07,200
Speaker 5: That is so true.

564
00:30:07,400 --> 00:30:10,880
Speaker 4: Families often walk into our offices with the same question,

565
00:30:11,440 --> 00:30:15,200
Speaker 4: do I have enough? And that is not a silly question,

566
00:30:15,640 --> 00:30:19,040
Speaker 4: is a wise one. Our advisors look at your income,

567
00:30:19,360 --> 00:30:25,160
Speaker 4: you're spending, your goals, your risk tolerance, your longevity, and

568
00:30:25,280 --> 00:30:29,640
Speaker 4: your tax strategy, and once everything is mapped out year

569
00:30:29,680 --> 00:30:34,920
Speaker 4: by year, that fear transforms into clarity. You feel empowered,

570
00:30:35,200 --> 00:30:40,240
Speaker 4: you feel steady, you feel prepared. That is what planning does.

571
00:30:40,600 --> 00:30:44,880
Speaker 4: It does not change your life circumstances, it changes how

572
00:30:44,960 --> 00:30:46,000
Speaker 4: you navigate them.

573
00:30:46,480 --> 00:30:49,360
Speaker 2: Another big question we hear is whether someone should retire

574
00:30:49,440 --> 00:30:52,160
Speaker 2: early or keep working a little longer.

575
00:30:52,200 --> 00:30:57,000
Speaker 4: And the answer is always it depends. Early retirement can

576
00:30:57,040 --> 00:31:02,000
Speaker 4: be wonderful, but healthcare costs before Medicare can be a challenge.

577
00:31:02,480 --> 00:31:07,600
Speaker 4: Working longer can grow your savings, increase social security benefits,

578
00:31:08,120 --> 00:31:11,720
Speaker 4: and give you more purpose and structure. And we are

579
00:31:11,800 --> 00:31:16,320
Speaker 4: seeing more people unretire not because they have to, but

580
00:31:16,480 --> 00:31:19,720
Speaker 4: because they genuinely enjoy staying active.

581
00:31:20,360 --> 00:31:23,320
Speaker 2: You've always said plan for the option, not the obligation

582
00:31:23,560 --> 00:31:25,240
Speaker 2: to keep working exactly.

583
00:31:25,640 --> 00:31:30,840
Speaker 4: That is what a good plan gives you options, flexibility, freedom,

584
00:31:31,440 --> 00:31:34,560
Speaker 4: And once you are ready to create that plan, the

585
00:31:34,640 --> 00:31:37,960
Speaker 4: next question becomes, who do I trust to help me

586
00:31:38,040 --> 00:31:41,560
Speaker 4: build it? Hey, Kelly Financial, clients come to our firm

587
00:31:41,640 --> 00:31:45,800
Speaker 4: for three reasons, values, trust, and knowledge.

588
00:31:46,040 --> 00:31:47,760
Speaker 5: We are a fiduciary firm.

589
00:31:48,120 --> 00:31:52,720
Speaker 4: We are independent, and our advisors put your interest first.

590
00:31:53,160 --> 00:31:56,280
Speaker 4: And I always tell people I trust our advisors with

591
00:31:56,400 --> 00:31:59,320
Speaker 4: my own money because I am not just the head

592
00:31:59,360 --> 00:31:59,920
Speaker 4: of the firm.

593
00:32:00,160 --> 00:32:01,320
Speaker 5: I am a client too.

594
00:32:01,880 --> 00:32:05,040
Speaker 2: And that is what your book is really about, real experiences,

595
00:32:05,160 --> 00:32:08,720
Speaker 2: real guidance, and real planning, not theory, real life.

596
00:32:09,040 --> 00:32:09,480
Speaker 5: It is.

597
00:32:09,640 --> 00:32:12,240
Speaker 4: And in part two of this series, we will talk

598
00:32:12,320 --> 00:32:18,640
Speaker 4: about the long game, long term care, taxes, retirement, income, independence,

599
00:32:18,840 --> 00:32:23,360
Speaker 4: and legacy. These are the conversations that help families plan

600
00:32:23,720 --> 00:32:24,680
Speaker 4: with confidence.

601
00:32:25,080 --> 00:32:27,720
Speaker 1: So stay with us. We'll be right back with part two.

602
00:32:28,080 --> 00:32:36,600
Speaker 4: You are listening to safe Money Strategies right here on WRKO.

603
00:32:36,840 --> 00:32:40,920
Speaker 3: Safe Money Strategies brought to you by Kelly Financial Services.

604
00:32:41,120 --> 00:32:44,920
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

605
00:32:45,000 --> 00:32:46,960
Speaker 3: visit Kellyfinancial dot org.

606
00:32:47,520 --> 00:32:50,920
Speaker 9: Ready to enjoy your golden years without worry and Kelly

607
00:32:50,920 --> 00:32:54,720
Speaker 9: Financial We know retirement planning can be overwhelming. With more

608
00:32:54,760 --> 00:32:57,920
Speaker 9: than twenty two years of experience, our friendly team of

609
00:32:57,960 --> 00:33:01,640
Speaker 9: advisors makes it easy and dress free. Trust us to

610
00:33:01,680 --> 00:33:04,600
Speaker 9: help you create a secure and enjoyable future.

611
00:33:04,840 --> 00:33:05,800
Speaker 1: For a free.

612
00:33:05,480 --> 00:33:09,760
Speaker 9: Initial retirement consultation, called eight eight eight eight hundred eighteen

613
00:33:09,840 --> 00:33:14,000
Speaker 9: eighty one or email Kelly at Kellyfinancial dot org. We're

614
00:33:14,120 --> 00:33:16,240
Speaker 9: Kelly Financial. Come retire with.

615
00:33:16,160 --> 00:33:21,120
Speaker 3: Us safe money strategies with William Kelly and Kelly Kelly.

616
00:33:21,360 --> 00:33:24,760
Speaker 3: Call the team on eight eight eight eight hundred eighteen

617
00:33:25,000 --> 00:33:25,600
Speaker 3: eighty one.

618
00:33:26,280 --> 00:33:32,920
Speaker 5: Take care, Welcome back.

619
00:33:33,040 --> 00:33:36,960
Speaker 4: This is Kelly Kelly here with my son, William Kelly Junior,

620
00:33:37,400 --> 00:33:40,760
Speaker 4: in part two of our series. Today, we're going to

621
00:33:40,880 --> 00:33:45,200
Speaker 4: talk about one of the most important and often overlooked

622
00:33:45,560 --> 00:33:50,680
Speaker 4: parts of retirement planning, the long game. Because true retirement

623
00:33:50,720 --> 00:33:54,479
Speaker 4: planning is not just about dollars and cents. It's about

624
00:33:54,520 --> 00:33:59,400
Speaker 4: your health, your income, your legacy, and your independence.

625
00:34:00,000 --> 00:34:01,880
Speaker 5: When you think about it that way.

626
00:34:01,960 --> 00:34:05,920
Speaker 4: Planning becomes something much deeper than financial strategy.

627
00:34:06,360 --> 00:34:07,840
Speaker 5: It becomes peace.

628
00:34:07,960 --> 00:34:11,160
Speaker 2: Absolutely, mom And something I've learned from working with our

629
00:34:11,200 --> 00:34:14,239
Speaker 2: team is that the topics people avoid the most are

630
00:34:14,360 --> 00:34:17,239
Speaker 2: usually the ones that matter the most. Things like long

631
00:34:17,320 --> 00:34:22,320
Speaker 2: term care taxes, income, planning, and especially the conversation's Families

632
00:34:22,360 --> 00:34:26,640
Speaker 2: put off until later, but later always comes, and having

633
00:34:26,640 --> 00:34:29,160
Speaker 2: a plan before that moment makes all the difference.

634
00:34:29,719 --> 00:34:34,560
Speaker 4: Long term care is a perfect example. Nearly seventy percent

635
00:34:34,600 --> 00:34:37,919
Speaker 4: of Americans will need some form of long term care

636
00:34:37,960 --> 00:34:41,880
Speaker 4: in their lifetime. That could mean home care, assisted living,

637
00:34:42,440 --> 00:34:47,560
Speaker 4: memory care, or nursing care. And if families are not prepared,

638
00:34:47,760 --> 00:34:53,800
Speaker 4: that responsibility emotionally and financially can fall on the people they.

639
00:34:53,680 --> 00:34:58,200
Speaker 2: Love, and it can happen so quickly. A fall, a diagnosis,

640
00:34:58,360 --> 00:35:01,759
Speaker 2: a hospitalization. Suddenly a family is trying to figure out

641
00:35:01,840 --> 00:35:04,200
Speaker 2: what to do, what it costs, and how long they

642
00:35:04,200 --> 00:35:05,160
Speaker 2: can sustain.

643
00:35:04,800 --> 00:35:09,920
Speaker 4: It exactly, and long term care today is expensive. Inflation

644
00:35:10,080 --> 00:35:13,960
Speaker 4: alone can double care costs in twenty to thirty years.

645
00:35:14,480 --> 00:35:19,200
Speaker 4: Planning is not about fears about compassion. It's about giving

646
00:35:19,239 --> 00:35:23,520
Speaker 4: your spouse, children, and family members a clear plan so

647
00:35:23,600 --> 00:35:27,280
Speaker 4: they are not overwhelmed when life changes. There are many

648
00:35:27,320 --> 00:35:32,200
Speaker 4: ways to prepare long term care. Insurance hybrid policies are

649
00:35:32,280 --> 00:35:37,759
Speaker 4: simply earmarking assets with intention. The key is starting the conversation.

650
00:35:38,000 --> 00:35:41,240
Speaker 4: While you are healthy and independent.

651
00:35:41,280 --> 00:35:43,359
Speaker 2: You can always say hope for the best and plan

652
00:35:43,440 --> 00:35:44,000
Speaker 2: for the worst.

653
00:35:44,440 --> 00:35:48,000
Speaker 4: That is right because planning is not about assuming bad

654
00:35:48,080 --> 00:35:53,600
Speaker 4: things will happen. It's about making sure your family is protected.

655
00:35:53,160 --> 00:35:53,799
Speaker 5: If they do.

656
00:35:54,440 --> 00:35:58,560
Speaker 2: Another topic people avoid is taxes. Everyone knows they have

657
00:35:58,640 --> 00:36:02,720
Speaker 2: to file taxes. Everyone understands the power of tax planning.

658
00:36:03,160 --> 00:36:08,000
Speaker 2: That is an important distinction. Tax filing is backward looking.

659
00:36:08,480 --> 00:36:12,760
Speaker 2: Tax planning is forward looking. Is not about paying less

660
00:36:12,800 --> 00:36:16,319
Speaker 2: than your fair share. It's about not paying more than

661
00:36:16,320 --> 00:36:20,200
Speaker 2: your fair share. With proper planning, families.

662
00:36:19,680 --> 00:36:24,280
Speaker 4: Can manage their tax brackets, plan their withdrawals, and protect

663
00:36:24,440 --> 00:36:28,800
Speaker 4: more of their retirement income. And with rising national debt,

664
00:36:28,920 --> 00:36:32,360
Speaker 4: many experts believe taxes could be higher in the future.

665
00:36:32,840 --> 00:36:38,759
Speaker 4: So planning now, especially before required minimum distributions begin, can

666
00:36:38,960 --> 00:36:41,680
Speaker 4: create decades of long term savings.

667
00:36:42,360 --> 00:36:45,040
Speaker 2: And that is why you always encourage people to think

668
00:36:45,080 --> 00:36:49,200
Speaker 2: about taxes year round, not just in April exactly.

669
00:36:49,480 --> 00:36:53,560
Speaker 4: Your income plan and your tax plan should work together

670
00:36:54,200 --> 00:36:57,080
Speaker 4: like a pair of bookends, holding up the rest of

671
00:36:57,120 --> 00:36:58,640
Speaker 4: your retirement, and that.

672
00:36:58,560 --> 00:37:02,000
Speaker 2: Brings us to one of the biggest piece of retirement planning. Income.

673
00:37:02,440 --> 00:37:06,080
Speaker 2: You say it often people retire on income, not on assets.

674
00:37:06,680 --> 00:37:07,520
Speaker 5: It is true.

675
00:37:07,640 --> 00:37:13,120
Speaker 4: Your dreams, your lifestyle, your goals, everything depends on reliable

676
00:37:13,320 --> 00:37:19,479
Speaker 4: sustainable income, not guess work, not hope income. The key

677
00:37:19,600 --> 00:37:25,480
Speaker 4: is balancing all the tools available social security, pensions, investments,

678
00:37:26,000 --> 00:37:31,200
Speaker 4: protected income options in a way that supports your actual spending,

679
00:37:31,440 --> 00:37:35,680
Speaker 4: and that spending should be based on real numbers, not estimates.

680
00:37:36,040 --> 00:37:39,520
Speaker 4: Your bank and credit card statements tell the real story

681
00:37:39,560 --> 00:37:43,839
Speaker 4: of your lifestyle. When your income plan is solid, your

682
00:37:43,880 --> 00:37:47,880
Speaker 4: retirement becomes more than an idea. It becomes a daily

683
00:37:47,960 --> 00:37:50,480
Speaker 4: reality you can enjoy without fear.

684
00:37:51,160 --> 00:37:54,440
Speaker 2: One topic you speak about often is women and retirement,

685
00:37:54,840 --> 00:37:57,000
Speaker 2: and I think it's one of the most important chapters

686
00:37:57,000 --> 00:37:57,560
Speaker 2: in your book.

687
00:37:57,760 --> 00:38:02,120
Speaker 4: It is women face a unique set of challenges in retirement.

688
00:38:02,480 --> 00:38:06,120
Speaker 4: They tend to live longer, they often spend years out

689
00:38:06,160 --> 00:38:11,160
Speaker 4: of the workforce, caring for children or aging parents, and statistically,

690
00:38:11,320 --> 00:38:14,680
Speaker 4: most women will spend at least part of retirement on

691
00:38:14,719 --> 00:38:19,640
Speaker 4: their own, either through widowhood or divorce. This is why

692
00:38:19,680 --> 00:38:23,960
Speaker 4: I tell women, be informed, be involved, and be ready.

693
00:38:24,520 --> 00:38:28,360
Speaker 4: Do not rely on someone else to manage your financial life.

694
00:38:28,520 --> 00:38:30,880
Speaker 4: You do not have to know everything, You just have

695
00:38:30,960 --> 00:38:32,399
Speaker 4: to be part of the conversation.

696
00:38:32,800 --> 00:38:34,880
Speaker 2: I remember you saying that one of the most common

697
00:38:34,920 --> 00:38:37,480
Speaker 2: requests to hear from women is teach me how to

698
00:38:37,560 --> 00:38:39,759
Speaker 2: be a widow that always stays with me.

699
00:38:40,160 --> 00:38:44,320
Speaker 4: It is a powerful and honest request, and the time

700
00:38:44,360 --> 00:38:48,120
Speaker 4: to have those conversations is long before someone needs them.

701
00:38:48,680 --> 00:38:52,440
Speaker 4: Planning is an act of love for yourself and for

702
00:38:52,520 --> 00:38:55,600
Speaker 4: the people who will one day need to carry your.

703
00:38:55,440 --> 00:38:58,640
Speaker 2: Decisions forward, and that leads us to the final piece,

704
00:38:59,280 --> 00:39:01,080
Speaker 2: finding the right advisor.

705
00:39:01,680 --> 00:39:04,400
Speaker 1: Not every firm is the right fit for every family.

706
00:39:04,680 --> 00:39:05,759
Speaker 5: That is true.

707
00:39:05,960 --> 00:39:12,440
Speaker 4: At Kelly Financial, our philosophy is built on three pillars, values, trust,

708
00:39:12,760 --> 00:39:20,200
Speaker 4: and knowledge. Values create connection, trust sustains relationship, and knowledge

709
00:39:20,280 --> 00:39:24,840
Speaker 4: help families grow in confidence. Our advisors do not just

710
00:39:25,000 --> 00:39:30,520
Speaker 4: manage money. They help guide decisions. They help families understand

711
00:39:30,560 --> 00:39:35,440
Speaker 4: their risks, their opportunities, and their long term goals, and

712
00:39:35,520 --> 00:39:39,160
Speaker 4: they do it with a fiduciary commitment to always put

713
00:39:39,200 --> 00:39:40,080
Speaker 4: clients first.

714
00:39:40,400 --> 00:39:42,920
Speaker 5: You do not need an advisor to tell you what

715
00:39:43,080 --> 00:39:43,439
Speaker 5: to do.

716
00:39:43,960 --> 00:39:48,320
Speaker 4: You need one who helps you understand why the decision matters.

717
00:39:48,680 --> 00:39:51,120
Speaker 2: And that brings us back to your book, the stories,

718
00:39:51,239 --> 00:39:52,880
Speaker 2: the lessons and the hope behind it.

719
00:39:53,160 --> 00:39:58,840
Speaker 4: The book is filled with real experiences longevity, taxes, income,

720
00:39:59,080 --> 00:40:05,000
Speaker 4: social security, long term care, women's planning, legacy, and more.

721
00:40:05,360 --> 00:40:07,160
Speaker 5: It's a guide rooted.

722
00:40:06,960 --> 00:40:10,640
Speaker 4: In faith, humor, and heart, and as we head into

723
00:40:10,680 --> 00:40:16,080
Speaker 4: Thanksgiving week, it's a reminder that planning is gratitude in action.

724
00:40:16,680 --> 00:40:19,920
Speaker 4: When you prepare for the future, you protect the people

725
00:40:20,000 --> 00:40:20,439
Speaker 4: you love.

726
00:40:20,800 --> 00:40:22,760
Speaker 2: And this is the perfect time to read it.

727
00:40:22,760 --> 00:40:25,799
Speaker 4: It is. If you would like a complimentary copy of

728
00:40:25,800 --> 00:40:30,280
Speaker 4: my book, Retire your Fear, Plan Your Future, just call

729
00:40:30,400 --> 00:40:35,279
Speaker 4: or email or office at Kelly at Kellifinancial dot org.

730
00:40:35,520 --> 00:40:38,759
Speaker 2: We hope today's conversations have given you clarity and confidence

731
00:40:38,800 --> 00:40:40,040
Speaker 2: as you think about your own plan.

732
00:40:40,400 --> 00:40:44,440
Speaker 4: From all of us at Kelly Financial, have a blessed

733
00:40:44,520 --> 00:40:48,160
Speaker 4: Thanksgiving and may you and your family plan for.

734
00:40:48,200 --> 00:40:49,640
Speaker 5: A prosperous future.

735
00:40:50,280 --> 00:40:56,520
Speaker 4: You are listening to Safe Money Strategies right here on WRKO.

736
00:40:58,120 --> 00:41:02,640
Speaker 3: Safe Money Strategies to you by Kelly Financial Services. Call

737
00:41:02,760 --> 00:41:06,520
Speaker 3: eight eight eight eight hundred eighteen eighty one or visit

738
00:41:06,640 --> 00:41:08,240
Speaker 3: Kelly Financial dot org.

739
00:41:09,160 --> 00:41:11,840
Speaker 1: Welcome back to Safe Money Strategies. I'm Mike d Said.

740
00:41:11,719 --> 00:41:13,960
Speaker 8: Here with Greg Workman, and before the break we were

741
00:41:14,000 --> 00:41:18,480
Speaker 8: talking about how today's markets look a little stretched, high valuations,

742
00:41:18,640 --> 00:41:23,200
Speaker 8: narrow leadership, and big expectations riding on tech and AI spending.

743
00:41:23,400 --> 00:41:26,680
Speaker 1: Right Mike, and as we said, it's not necessarily a

744
00:41:26,800 --> 00:41:30,279
Speaker 1: doom and gloom picture, but it's definitely a time to

745
00:41:30,320 --> 00:41:33,919
Speaker 1: be selective and strategic. So let's dig into the two

746
00:41:33,960 --> 00:41:36,600
Speaker 1: sides of this bull and bear case for where the

747
00:41:36,640 --> 00:41:37,840
Speaker 1: market could go next.

748
00:41:38,040 --> 00:41:40,960
Speaker 8: Let's start with the optimistic side. The bulls argue that

749
00:41:41,080 --> 00:41:43,880
Speaker 8: while valuations are high, they can stay high for a

750
00:41:43,960 --> 00:41:46,879
Speaker 8: long time if earning's growth continues to deliver.

751
00:41:46,840 --> 00:41:51,280
Speaker 1: Exactly, corporate balance sheets are generally strong, and technology continues

752
00:41:51,320 --> 00:41:55,560
Speaker 1: to drive productivity gains. If those capital investments and artificial

753
00:41:55,600 --> 00:41:59,880
Speaker 1: intelligence and automation payoff, that could lift earnings in a

754
00:42:00,120 --> 00:42:04,880
Speaker 1: way that supports today's prices or even justifies further upside.

755
00:42:04,920 --> 00:42:08,040
Speaker 8: And you've got the possibility of lower interest rates too.

756
00:42:08,120 --> 00:42:11,600
Speaker 8: If the Federal Reserve continues cutting rates, that could reduce

757
00:42:11,680 --> 00:42:15,200
Speaker 8: borrowing costs and make equities more attractive compared to bonds.

758
00:42:15,280 --> 00:42:20,240
Speaker 1: That's a great point. Historically, lower rates have supported higher valuations.

759
00:42:20,560 --> 00:42:24,480
Speaker 1: If inflation keeps trending down and the economy stays resilient,

760
00:42:25,000 --> 00:42:28,600
Speaker 1: investors might be willing to keep paying a premium for growth.

761
00:42:28,800 --> 00:42:30,200
Speaker 1: There's also the global angle.

762
00:42:30,400 --> 00:42:35,279
Speaker 8: International capital still views US markets as the most stable, innovative,

763
00:42:35,360 --> 00:42:38,879
Speaker 8: and liquid in the world. That foreign demand helps valuations,

764
00:42:39,000 --> 00:42:41,600
Speaker 8: especially when global uncertainty rises elsewhere.

765
00:42:41,840 --> 00:42:45,120
Speaker 1: So the bull case is, yes, the market's expensive, but

766
00:42:45,480 --> 00:42:50,239
Speaker 1: for good reason. The US economy remains relatively strong, innovation

767
00:42:50,440 --> 00:42:54,080
Speaker 1: is booming, and investors are betting that these trends, well,

768
00:42:54,080 --> 00:42:54,880
Speaker 1: they'll continue.

769
00:42:55,080 --> 00:42:58,680
Speaker 8: Now let's flip it around. The bear case says, be

770
00:42:58,800 --> 00:43:01,680
Speaker 8: careful because this kind of optimism can go too far.

771
00:43:01,960 --> 00:43:06,120
Speaker 1: Exactly when valuations are stretched. You don't need a recession

772
00:43:06,239 --> 00:43:09,040
Speaker 1: to have a pullback in the stock market. You just

773
00:43:09,200 --> 00:43:14,320
Speaker 1: need a disappointment. Maybe earnings growth slows, or interest rates

774
00:43:14,360 --> 00:43:19,320
Speaker 1: stay higher for longer than predicted, or AI spending turns

775
00:43:19,360 --> 00:43:21,680
Speaker 1: out to be less profitable than expected.

776
00:43:21,920 --> 00:43:26,400
Speaker 8: Or geopolitical risk, elections, trade tensions, conflicts, any of those

777
00:43:26,480 --> 00:43:30,240
Speaker 8: can shake confidence and trigger volatility when markets are priced

778
00:43:30,239 --> 00:43:30,840
Speaker 8: for perfection.

779
00:43:31,160 --> 00:43:35,439
Speaker 1: And remember that concentration risk we talked about earlier. If

780
00:43:35,480 --> 00:43:38,680
Speaker 1: one of the Magnificent seven has a bad quarter or

781
00:43:38,800 --> 00:43:43,600
Speaker 1: faces regulatory scrutiny, it could ripple across the entire index.

782
00:43:43,920 --> 00:43:46,160
Speaker 8: That's the bare case in a nutshell, not that the

783
00:43:46,200 --> 00:43:49,800
Speaker 8: economy collapses, but that expectations.

784
00:43:48,960 --> 00:43:50,319
Speaker 1: Are just too high.

785
00:43:50,360 --> 00:43:53,360
Speaker 8: And when everyone's on one side of the boat, even

786
00:43:53,400 --> 00:43:55,640
Speaker 8: a small wave can cause a lot of movement.

787
00:43:55,880 --> 00:43:59,480
Speaker 1: So where does that leave the average investor. For our listeners,

788
00:43:59,640 --> 00:44:03,640
Speaker 1: especially those nearing or in retirement, this is about balance.

789
00:44:04,080 --> 00:44:07,280
Speaker 1: You don't have to pick sides between bull or bear.

790
00:44:07,800 --> 00:44:09,839
Speaker 1: You can prepare for both. That's right.

791
00:44:10,120 --> 00:44:12,800
Speaker 8: This is where safe money planning really comes into play.

792
00:44:13,040 --> 00:44:13,879
Speaker 1: It's about having a.

793
00:44:13,840 --> 00:44:17,440
Speaker 8: Portfolio they can participate in growth, but also hold.

794
00:44:17,239 --> 00:44:19,319
Speaker 1: Up if things get shoppy. One of the things we

795
00:44:19,360 --> 00:44:22,480
Speaker 1: talk about with clients is identifying the money that they

796
00:44:22,600 --> 00:44:26,239
Speaker 1: can't afford to lose, the income sources that need to

797
00:44:26,239 --> 00:44:29,920
Speaker 1: be there no matter what the stock market does. Those

798
00:44:29,960 --> 00:44:35,680
Speaker 1: dollars should be positioned conservatively, focused on protection and steady yield.

799
00:44:36,040 --> 00:44:38,839
Speaker 8: Meanwhile, for the portion that's meant to grow, you can

800
00:44:38,880 --> 00:44:42,879
Speaker 8: stay invested, just more selectively. That might mean diversifying beyond

801
00:44:42,920 --> 00:44:45,960
Speaker 8: the big tech names, or incorporating sectors that haven't run

802
00:44:46,000 --> 00:44:49,240
Speaker 8: as hut, like healthcare industrials or certain dividend payers.

803
00:44:49,360 --> 00:44:53,239
Speaker 1: And for some clients will use tactical tools, things like

804
00:44:53,360 --> 00:44:59,080
Speaker 1: structured buffered ETFs or even actively managed strategies that can

805
00:44:59,080 --> 00:45:03,600
Speaker 1: adjust exp exposure as conditions change. The goal it's to

806
00:45:03,719 --> 00:45:08,440
Speaker 1: stay invested, but not be overexposed. From a risk standpoint.

807
00:45:08,520 --> 00:45:11,200
Speaker 8: Greg one thing we see a lot when volatility picks

808
00:45:11,280 --> 00:45:14,600
Speaker 8: up is that investors get emotional. They see big headlines

809
00:45:14,760 --> 00:45:17,160
Speaker 8: or shop moves and feel pressure to do something right

810
00:45:17,200 --> 00:45:18,239
Speaker 8: away exactly.

811
00:45:18,320 --> 00:45:22,279
Speaker 1: That's why having a written plan is so important. When

812
00:45:22,320 --> 00:45:26,000
Speaker 1: you've mapped out your income, your risk tolerance, and your goals,

813
00:45:26,280 --> 00:45:29,359
Speaker 1: you're less likely to make reactive decisions.

814
00:45:29,560 --> 00:45:32,400
Speaker 8: And that's really the heart of safe money strategies. It's

815
00:45:32,400 --> 00:45:35,399
Speaker 8: about clarity, knowing what you own, why you own it,

816
00:45:35,440 --> 00:45:37,799
Speaker 8: and how it fits into your broader retirement plan.

817
00:45:37,960 --> 00:45:40,719
Speaker 1: We had a client recently who was heavily invested in

818
00:45:40,800 --> 00:45:44,720
Speaker 1: growth stocks. They'd done well for the past few years,

819
00:45:45,000 --> 00:45:47,800
Speaker 1: but they were starting to lose sleep over the ups

820
00:45:47,800 --> 00:45:51,920
Speaker 1: and downs in the market. We rebounced their portfolio, added

821
00:45:52,000 --> 00:45:57,359
Speaker 1: some income focused positions, and built a clear withdrawal strategy.

822
00:45:57,719 --> 00:46:01,680
Speaker 1: The market didn't change overnight, but there's stress level sure did.

823
00:46:01,920 --> 00:46:03,120
Speaker 1: That's such a common theme.

824
00:46:03,200 --> 00:46:06,960
Speaker 8: You can't control markets, but you can control how much

825
00:46:07,040 --> 00:46:08,840
Speaker 8: uncertainty you're exposed to.

826
00:46:09,160 --> 00:46:12,560
Speaker 1: If you're listening today and wondering whether your portfolio might

827
00:46:12,600 --> 00:46:18,200
Speaker 1: be overheated or maybe too concentrated in certain sectors, now

828
00:46:18,280 --> 00:46:21,279
Speaker 1: is the perfect time to dive in and take a

829
00:46:21,320 --> 00:46:22,040
Speaker 1: closer look.

830
00:46:22,160 --> 00:46:25,200
Speaker 8: That's why we put together a Safe Money Strategies Workbook.

831
00:46:25,360 --> 00:46:28,440
Speaker 8: It's a simple, practical tool that helps you evaluate your

832
00:46:28,520 --> 00:46:32,439
Speaker 8: risk exposure, identify potential gaps in your retirement income plan,

833
00:46:32,719 --> 00:46:35,480
Speaker 8: and see how your current investments align with your goals.

834
00:46:35,600 --> 00:46:38,840
Speaker 1: You can request a free copy of the Safe Money

835
00:46:38,840 --> 00:46:44,160
Speaker 1: Strategies Workbook by calling our office. It's completely complementary, no cost,

836
00:46:44,440 --> 00:46:45,440
Speaker 1: no obligation, and.

837
00:46:45,400 --> 00:46:47,799
Speaker 8: If you'd like, we'll even schedule a personal review with

838
00:46:47,840 --> 00:46:50,319
Speaker 8: our team to walk through your results and help you

839
00:46:50,400 --> 00:46:53,320
Speaker 8: understand your options in today's market environment.

840
00:46:52,960 --> 00:46:56,720
Speaker 1: Whether you're feeling confident or feeling cautious, it's always smart

841
00:46:56,840 --> 00:46:59,960
Speaker 1: to check your footing, especially when markets are running hot.

842
00:47:00,400 --> 00:47:03,319
Speaker 1: So give us a call today, request your copy of

843
00:47:03,360 --> 00:47:06,600
Speaker 1: the Safe Money Strategies Workbook, and take that first step

844
00:47:06,800 --> 00:47:10,040
Speaker 1: toward greater peace of mind. With that, I'm Greg Workman

845
00:47:10,160 --> 00:47:11,040
Speaker 1: and I Mike you said.

846
00:47:11,160 --> 00:47:13,800
Speaker 8: We'll be back next week for another edition of Safe

847
00:47:13,800 --> 00:47:14,640
Speaker 8: Money Strategies.

848
00:47:19,680 --> 00:47:23,880
Speaker 10: Joining us now, as she always does at this time,

849
00:47:24,560 --> 00:47:31,479
Speaker 10: the co founder, CEO, president of Kelly Financial Services, and yes,

850
00:47:31,760 --> 00:47:32,840
Speaker 10: that is her.

851
00:47:32,800 --> 00:47:38,960
Speaker 1: Charming name, Kelly. Kelly Kelly, how are.

852
00:47:39,000 --> 00:47:43,439
Speaker 11: You, Good morning, Jeff? I am good for so many

853
00:47:43,560 --> 00:47:48,880
Speaker 11: retires stepping away from work doesn't mean stepping away from responsibility.

854
00:47:49,320 --> 00:47:52,400
Speaker 11: You may be helping a son or daughter through college,

855
00:47:52,719 --> 00:47:56,080
Speaker 11: or caring for an aging parent whose needs have grown

856
00:47:56,239 --> 00:48:00,360
Speaker 11: over time, and when that happens, you feel it financially

857
00:48:00,520 --> 00:48:04,400
Speaker 11: and emotionally. Maybe you're drawing from savings a little sooner,

858
00:48:04,600 --> 00:48:08,040
Speaker 11: or stretching your monthly income a little further just to

859
00:48:08,160 --> 00:48:12,000
Speaker 11: keep everyone supported. But that's when it really helps to

860
00:48:12,160 --> 00:48:16,600
Speaker 11: have something you can lean on, A simple, practical checklist

861
00:48:16,680 --> 00:48:20,239
Speaker 11: that keeps you focus on the essentials of protecting your

862
00:48:20,280 --> 00:48:23,560
Speaker 11: income while you care for the people you love. Our

863
00:48:23,680 --> 00:48:28,480
Speaker 11: Retirement income Planning Checklist offers ten key steps to help

864
00:48:28,520 --> 00:48:32,839
Speaker 11: you think through healthcare cost inflation and making sure your

865
00:48:32,880 --> 00:48:33,960
Speaker 11: money keeps working.

866
00:48:34,000 --> 00:48:34,480
Speaker 5: For you.

867
00:48:34,800 --> 00:48:38,160
Speaker 11: To request your free copy, give us a caller email

868
00:48:38,320 --> 00:48:42,600
Speaker 11: Kelly at Kellyfinancial dot org. Jeff, have a wonderful weekend.

869
00:48:42,760 --> 00:48:44,600
Speaker 11: My best to Grace and the kiddos.

870
00:48:44,880 --> 00:48:47,399
Speaker 10: Thank you so much, Kelly, all the best to you

871
00:48:47,480 --> 00:48:51,319
Speaker 10: and everyone at Kelly Financial. Call now to get your

872
00:48:51,400 --> 00:48:54,480
Speaker 10: free copy of her guide eight eight eight eight hundred

873
00:48:54,640 --> 00:48:58,640
Speaker 10: eighteen eighty one eight eight eight eight hundred eighteen eighty one,

874
00:48:59,120 --> 00:49:02,200
Speaker 10: or if you prefer, you can email Kelly herself directly

875
00:49:02,760 --> 00:49:05,040
Speaker 10: Kelly at Kelly Financial dot org.

876
00:49:05,520 --> 00:49:08,759
Speaker 5: Kelly at Kelly Financial dot org.

877
00:49:14,640 --> 00:49:16,560
Speaker 1: Hi, everyone, this is William Kelly.

878
00:49:16,880 --> 00:49:19,600
Speaker 2: If you've ever wished you'd learned about money sooner, That's

879
00:49:19,600 --> 00:49:22,840
Speaker 2: why I wrote Only the Good invest Young, a simple,

880
00:49:23,120 --> 00:49:27,279
Speaker 2: encouraging guide with real world steps anyone can follow. I

881
00:49:27,360 --> 00:49:30,680
Speaker 2: kept seeing the same thing people wishing someone had explained

882
00:49:30,719 --> 00:49:34,600
Speaker 2: the basics earlier. How to save, build good habits, avoid

883
00:49:34,680 --> 00:49:38,640
Speaker 2: costly mistakes, and create momentum even when you're starting small,

884
00:49:39,200 --> 00:49:43,440
Speaker 2: whether you're eighteen or eighty. This book is about confidence, clarity,

885
00:49:43,760 --> 00:49:46,920
Speaker 2: and taking action. With the holidays coming up, Only the

886
00:49:46,960 --> 00:49:49,960
Speaker 2: Good Investor Young makes a great Christmas gift for a child,

887
00:49:50,080 --> 00:49:52,960
Speaker 2: a grandchild, or anyone who needs that nudge.

888
00:49:52,680 --> 00:49:53,400
Speaker 1: To start strong.

889
00:49:53,760 --> 00:49:57,279
Speaker 2: For our listeners, we're sending out complimentary copies. Just call

890
00:49:57,520 --> 00:50:00,560
Speaker 2: eight eight eight eight hundred and twenty one or email

891
00:50:00,640 --> 00:50:03,319
Speaker 2: Kelly at Kellyfinancial dot org and we'll send you one

892
00:50:03,440 --> 00:50:06,239
Speaker 2: at no charge. You can also purchase a softcover on

893
00:50:06,280 --> 00:50:09,400
Speaker 2: Amazon or an ebook on Kendall. I'm William Kelly, and

894
00:50:09,440 --> 00:50:11,480
Speaker 2: I hope this book helps someone you love take their

895
00:50:11,520 --> 00:50:12,040
Speaker 2: first step.

896
00:50:14,280 --> 00:50:19,560
Speaker 3: Safe money Strategies at eight eight hundred one eight eight.

897
00:50:19,440 --> 00:50:23,399
Speaker 4: One Bill Kelly always had a way of taking us

898
00:50:23,440 --> 00:50:27,320
Speaker 4: back to the moments that shaped him, the places, the people,

899
00:50:27,560 --> 00:50:31,480
Speaker 4: and the grit that defined an entire generation. In this

900
00:50:31,560 --> 00:50:35,600
Speaker 4: week's story, he brings us to Autonomy Hill in Newport,

901
00:50:35,680 --> 00:50:39,920
Speaker 4: Rhode Island, where his grandmother kept a tiny apartment shining

902
00:50:40,160 --> 00:50:44,280
Speaker 4: like a museum, and where respect, hard work, and personal

903
00:50:44,360 --> 00:50:49,000
Speaker 4: responsibility were simply expected. Is a reminder that even the

904
00:50:49,120 --> 00:50:52,960
Speaker 4: humblest beginnings can build these strongest foundations.

905
00:50:53,280 --> 00:50:55,160
Speaker 5: Here's Bill Kelly.

906
00:50:56,320 --> 00:50:59,080
Speaker 12: I mentioned my family lived in housing projects before we

907
00:50:59,200 --> 00:51:02,840
Speaker 12: bought bailey Brook Farm. With the help of Grams, my

908
00:51:02,880 --> 00:51:05,839
Speaker 12: whole family moved from Providence to a housing project known

909
00:51:05,880 --> 00:51:09,080
Speaker 12: as Totomy Hill in Newport. It was a mix of

910
00:51:09,200 --> 00:51:12,560
Speaker 12: nationalities back then, but mostly Irish and Italian. We would

911
00:51:12,640 --> 00:51:15,759
Speaker 12: visit my grandmother Atonomy Hill. To me, she lived in

912
00:51:15,800 --> 00:51:19,040
Speaker 12: a museum. She kept the apartment immaculate and made it

913
00:51:19,080 --> 00:51:22,680
Speaker 12: wonderful to look at with all her knickknacks and beautiful curtains.

914
00:51:23,040 --> 00:51:25,720
Speaker 12: The yards were kept up and the premises were kept clean.

915
00:51:26,040 --> 00:51:29,120
Speaker 12: My grandmother was sixty five and the neighborhood bully was

916
00:51:29,200 --> 00:51:32,239
Speaker 12: named Bobby Brooks. If he came through her yard and

917
00:51:32,320 --> 00:51:34,759
Speaker 12: left a gum wrapper. My grandmother would yell at him.

918
00:51:35,360 --> 00:51:38,160
Speaker 12: Picture someone who looked like the Fawns, right, if the

919
00:51:38,200 --> 00:51:40,560
Speaker 12: Fawns got his character from someone, it was this guy,

920
00:51:40,719 --> 00:51:41,520
Speaker 12: Bobby Brooks.

921
00:51:42,080 --> 00:51:43,480
Speaker 1: So here's a sixty.

922
00:51:43,120 --> 00:51:46,080
Speaker 12: Five year old Italian lady in an open bedroom window,

923
00:51:46,800 --> 00:51:49,840
Speaker 12: pointing a finger and yelling at a hoodlum, Bobby Brooks,

924
00:51:50,400 --> 00:51:52,840
Speaker 12: if you don't pick that gum wrapper up, I'm coming

925
00:51:52,920 --> 00:51:55,040
Speaker 12: down there. And if I come down there, you're not

926
00:51:55,080 --> 00:51:57,480
Speaker 12: gonna like it. I'm going to call your mother before

927
00:51:57,520 --> 00:51:59,920
Speaker 12: I go down there, and I know what she's going

928
00:52:00,200 --> 00:52:01,920
Speaker 12: to tell me. She's going to tell me to do

929
00:52:02,000 --> 00:52:04,440
Speaker 12: whatever I need to do. So that was my grandmother,

930
00:52:05,120 --> 00:52:08,920
Speaker 12: and Bobby Brooks, the neighborhood hoodlum, would look up and say, okay,

931
00:52:08,960 --> 00:52:12,799
Speaker 12: missus Murphy, I'll get the wrapper. Sorry about that, I'm

932
00:52:12,840 --> 00:52:15,000
Speaker 12: out of here. He was the toughest kid I knew

933
00:52:15,920 --> 00:52:18,040
Speaker 12: back then. When you heard an adult yelling at you

934
00:52:18,120 --> 00:52:21,719
Speaker 12: from a window, you listened. But things have changed a

935
00:52:21,719 --> 00:52:25,400
Speaker 12: lot since then. We didn't know we were poor, and

936
00:52:25,440 --> 00:52:28,359
Speaker 12: we didn't know my grandmother was poor. We didn't think

937
00:52:28,400 --> 00:52:30,759
Speaker 12: of it as a project to us. She lived at

938
00:52:30,840 --> 00:52:34,640
Speaker 12: nineteen Cowie Street about twenty years ago. I was driving

939
00:52:34,640 --> 00:52:36,920
Speaker 12: through that neighborhood and they were tearing it apart again.

940
00:52:37,480 --> 00:52:42,040
Speaker 12: It's been redeveloped four different times in forty years. Unbelievable.

941
00:52:42,640 --> 00:52:45,839
Speaker 12: That's just what happens with public housing. I wondered if

942
00:52:45,920 --> 00:52:48,480
Speaker 12: nineteen Cowie Street was still there, so I went back.

943
00:52:48,920 --> 00:52:51,520
Speaker 12: The door was open and off its hinges. The whole

944
00:52:51,560 --> 00:52:54,920
Speaker 12: street was being redone. I walked into the apartment and

945
00:52:54,920 --> 00:52:57,879
Speaker 12: what a shock. It was tiny. The kitchen was ten

946
00:52:57,920 --> 00:53:01,040
Speaker 12: by ten, the living room was probably ten by fifteen,

947
00:53:01,360 --> 00:53:03,759
Speaker 12: and there was a set of stairs leading to the

948
00:53:03,760 --> 00:53:07,280
Speaker 12: top floor where there were two bedrooms. One was probably

949
00:53:07,400 --> 00:53:10,360
Speaker 12: ten by twelve and the other was probably twelve by twelve.

950
00:53:10,760 --> 00:53:15,120
Speaker 12: There also was a bathroom. A feeling of claustrophobia took hold.

951
00:53:15,760 --> 00:53:18,960
Speaker 12: Those stairs used to gleam. When you went to Grandma's house.

952
00:53:19,000 --> 00:53:21,560
Speaker 12: You dusted before you went to bed at night. When

953
00:53:21,600 --> 00:53:24,640
Speaker 12: you got up in the morning after breakfast, he cleaned

954
00:53:24,640 --> 00:53:28,120
Speaker 12: the stairs with pledge. That's what happened at Grandma's house.

955
00:53:28,840 --> 00:53:32,320
Speaker 12: The beds were made perfectly. Everything was neat and orderly,

956
00:53:32,560 --> 00:53:36,040
Speaker 12: all in public housing. My uncles lived at Totomy Hill too,

957
00:53:36,040 --> 00:53:39,279
Speaker 12: in the house next door to ours. The funny thing

958
00:53:39,400 --> 00:53:41,239
Speaker 12: is they would save some money and then they would

959
00:53:41,239 --> 00:53:43,680
Speaker 12: move out and buy a starter home. That's what they did.

960
00:53:44,360 --> 00:53:46,400
Speaker 12: As you know, Mom worked for the phone company and

961
00:53:46,520 --> 00:53:50,000
Speaker 12: Dad was a fireman. He also worked at a hardware store.

962
00:53:50,680 --> 00:53:53,120
Speaker 12: Mom sold real estate once in a while because she

963
00:53:53,160 --> 00:53:56,480
Speaker 12: had a knack for it. Then suddenly, and with the

964
00:53:56,520 --> 00:54:00,120
Speaker 12: help of Graham, they bought bailey Brook Farm and that

965
00:54:00,480 --> 00:54:02,560
Speaker 12: was the beginning of the next phase of our lives.

966
00:54:03,320 --> 00:54:05,399
Speaker 12: They were out of the projects. We didn't call them

967
00:54:05,440 --> 00:54:08,200
Speaker 12: that then, but would certainly call them that now. One

968
00:54:08,280 --> 00:54:11,160
Speaker 12: day we were living in Attomy Hill. The next day

969
00:54:11,520 --> 00:54:13,680
Speaker 12: we had a big farm with thousands of chickens, and

970
00:54:13,719 --> 00:54:17,640
Speaker 12: everyone was happy. My uncle's got work in hardware stores.

971
00:54:17,719 --> 00:54:20,239
Speaker 12: My uncle Tom started working at Raytheon and got put

972
00:54:20,239 --> 00:54:23,520
Speaker 12: through radio school. Just imagine that he began working at

973
00:54:23,600 --> 00:54:25,560
Speaker 12: Raytheon and all of a sudden found a great career.

974
00:54:26,320 --> 00:54:29,240
Speaker 12: Did we have an advantage because our skin color was white,

975
00:54:29,400 --> 00:54:32,319
Speaker 12: I don't know, but I'll tell you what advantage we

976
00:54:32,360 --> 00:54:35,239
Speaker 12: did have. If we didn't have a job, it didn't

977
00:54:35,280 --> 00:54:37,520
Speaker 12: go over well at the dinner table and my family,

978
00:54:38,360 --> 00:54:40,800
Speaker 12: at the ripe old age of nine, we were expected

979
00:54:40,840 --> 00:54:44,040
Speaker 12: to work. We could deliver a newspaper. We could caddy,

980
00:54:44,680 --> 00:54:48,319
Speaker 12: we could mow lawns, or we could shovel snow. My

981
00:54:48,400 --> 00:54:52,360
Speaker 12: older brother started to sell encyclopedias. At one point my

982
00:54:52,480 --> 00:54:55,400
Speaker 12: parents bought a set of course and they received a

983
00:54:55,400 --> 00:54:59,520
Speaker 12: Webster's dictionary with it. That dictionary was about a foot

984
00:54:59,560 --> 00:55:03,680
Speaker 12: tall and it had screws in the spine. The cover

985
00:55:03,840 --> 00:55:07,279
Speaker 12: was similar to leather and was very, very stiff. We

986
00:55:07,360 --> 00:55:09,480
Speaker 12: used to stand on it at the front window because

987
00:55:09,480 --> 00:55:11,800
Speaker 12: it allowed us to see cars a mile away coming

988
00:55:11,840 --> 00:55:14,440
Speaker 12: down the lane. We could see the lights bobbing up

989
00:55:14,480 --> 00:55:17,560
Speaker 12: and down because the road was rocky. The bobbing would

990
00:55:17,600 --> 00:55:19,640
Speaker 12: tell us how far away the car was, so we

991
00:55:19,680 --> 00:55:23,719
Speaker 12: could gauge when our folks were coming home. Once they

992
00:55:23,760 --> 00:55:26,280
Speaker 12: were spotted, we would have about two minutes to clean.

993
00:55:26,920 --> 00:55:29,239
Speaker 12: Sometimes we had to lock the back door to give

994
00:55:29,280 --> 00:55:32,839
Speaker 12: ourselves an extra minute. There was a path to improvement

995
00:55:32,920 --> 00:55:36,920
Speaker 12: for me, a path that went onward and upward. I'm

996
00:55:37,000 --> 00:55:40,880
Speaker 12: sure there's also a way out for others today. However,

997
00:55:41,800 --> 00:55:44,879
Speaker 12: I don't think the way out is by fundamentally transforming

998
00:55:44,920 --> 00:55:49,120
Speaker 12: our government into a quasi communist, bloated bureaucracy in which

999
00:55:49,160 --> 00:55:52,440
Speaker 12: we have to share the wealth with everyone. We weren't

1000
00:55:52,480 --> 00:55:54,600
Speaker 12: told that anyone was going to share his or her

1001
00:55:54,680 --> 00:55:57,759
Speaker 12: wealth with us. When we were growing up, we were

1002
00:55:57,760 --> 00:56:00,600
Speaker 12: told we had to get a job. I don't recall

1003
00:56:00,680 --> 00:56:03,960
Speaker 12: President Obama ever having a job. He never mentioned it.

1004
00:56:04,480 --> 00:56:07,280
Speaker 12: He just kept going to different schools, funded in part

1005
00:56:07,360 --> 00:56:10,600
Speaker 12: by Saudi Prince, various grants, and evermore loans that he

1006
00:56:10,600 --> 00:56:12,960
Speaker 12: couldn't pay back until he was finally elected to the

1007
00:56:13,040 --> 00:56:16,920
Speaker 12: Senate in Illinois. I could be wrong, but I seriously

1008
00:56:17,000 --> 00:56:19,360
Speaker 12: believe that there was some sort of disconnect.

1009
00:56:19,360 --> 00:56:27,239
Speaker 3: There were called Kelly Financial Services eight eight eight eight

1010
00:56:27,360 --> 00:56:29,200
Speaker 3: hundred eighteen eighty one.

1011
00:56:29,320 --> 00:56:34,040
Speaker 4: I'm Kelly Kelly from Kelly Financial. Whether you're in your sixties, seventies,

1012
00:56:34,200 --> 00:56:37,680
Speaker 4: or eighties, financial advice is important when it comes to

1013
00:56:37,800 --> 00:56:40,959
Speaker 4: preserving your nest egg. We have a free investor guide

1014
00:56:41,040 --> 00:56:44,879
Speaker 4: called designing your Fiscal House to Weather the Elements, which

1015
00:56:44,960 --> 00:56:48,840
Speaker 4: highlights the steps needed to build a balance portfolio. For

1016
00:56:48,920 --> 00:56:52,000
Speaker 4: the guide, call eight eight eight eight hundred eighteen eighty

1017
00:56:52,000 --> 00:56:55,800
Speaker 4: one or email Kelly at Kellyfinancial dot org.

1018
00:56:56,080 --> 00:56:59,120
Speaker 5: We're Kelly Financial. Come retire with us.

1019
00:56:59,440 --> 00:57:02,400
Speaker 3: Safe money Police Strategies with William Kelly.

1020
00:57:02,760 --> 00:57:06,160
Speaker 2: The preceding broadcast was paid for by Kelly Financial Services