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Speaker 1: This is coming to us, so.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Speaker 2: Kellyfinancial dot org or call us at eighty eight eight

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

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

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Speaker 2: Kelly Junior.

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

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Speaker 3: hundred eighteen eighty one.

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

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

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

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

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Speaker 4: It's where I sit down with my son, William Kelly Junior,

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

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

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

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Speaker 4: but it's always real. Good morning William, Good morning Mom.

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Speaker 2: I'm not handsome anymore, of course you are. Oh my gosh.

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Speaker 2: Usually every week I'm waiting for that compliment.

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Speaker 4: Oh wow, yeah, I always said my handsome son. I

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Speaker 4: don't know how that got dropped.

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Speaker 2: Oh no, I guess I'm losing my looks. Ladies and gentlemen,

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Speaker 2: oh you you were handsome. We'll find a way to

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Speaker 2: carry on.

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Speaker 4: I don't know how, but I will, both inside and outside.

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Speaker 2: Oh thank you you as well.

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Speaker 4: Oh pretty well, thank you, honey.

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Speaker 2: Well this week at Brant University, classes were canceled in

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Speaker 2: this previous school week, and I wonder why, ladies and gentlemen.

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Speaker 2: The blizzard of twenty six has now beaten the blizzard

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Speaker 2: of seventy eight, And for generations, Rhode Islanders have been

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Speaker 2: told by their parents and grandparents about the blizzard of

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Speaker 2: seventy eight, and no longer can they talk about it.

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Speaker 2: Now it's our turn to shine. And for those who

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Speaker 2: are not familiar with the blizzard was something that people

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Speaker 2: who are around then have never stopped talking about to

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Speaker 2: this day, and we finally beat it. We've had the

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Speaker 2: record blizzard here in Rhode Island and cool. I guess

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Speaker 2: all thanks to global warming. I suppose, I don't know.

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Speaker 4: I don't know. Well, at least when when the summer comes,

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Speaker 4: I'm hoping it will lower the mosquito mosquitoes and.

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Speaker 2: Ticks, hopefully, hopefully. So that's a huge, huge ask, but

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Speaker 2: it's one that I highly agree with. I pray that

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Speaker 2: it's a little mosquito summer, but it's always going to

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Speaker 2: be a mosquito summer, so we have to learn to

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Speaker 2: work with it. It's going to be warm here in

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Speaker 2: the dorm, I know that for a fact. But yeah,

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Speaker 2: so we had to wait until the last minute. Briant

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Speaker 2: is a very last minute decisions school. And that's not

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Speaker 2: good or bad, that's just how they do things. And

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Speaker 2: so you know, other schools will cancel classes, like for

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Speaker 2: the whole week, you know, the day in advance. Other

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Speaker 2: schools will you know, they'll be pretty onto it. And

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Speaker 2: with Bryant, you got to wait until the last couple

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Speaker 2: hours in the night before they tell you if classes

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Speaker 2: are canceled or not, or if it's online. And all

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Speaker 2: the commuters were freaking out last week because the roads

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Speaker 2: all week we're not. We're not that good. Even as

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Speaker 2: they're applowing, it was still pretty bad, and so commuters

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Speaker 2: are freaking out. As a school wasn't really have to

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Speaker 2: keep us on our toes. So it reminds me a

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Speaker 2: little bit of my high school. My high school is

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Speaker 2: definitely like that.

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Speaker 4: Oh yes, it was last minute, but the good news

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Speaker 4: was that we were only a quarter of a mile

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Speaker 4: from it.

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Speaker 2: Absolutely, they hated canceling class. It was the last thing

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Speaker 2: they do. They didn't care if those it was a tornado.

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Speaker 2: So those are good times. So how are the animals doing?

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Speaker 2: I heard that we have a guest stang over this week.

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Speaker 4: We the animals have been good, and yes, Melly is here.

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Speaker 4: I've been babysitting her and she has been trained to

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Speaker 4: ring a bell at the door when she needs to

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Speaker 4: go outside to relieve herself. And she has been taking

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Speaker 4: advantage of that bell.

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Speaker 2: Mellie.

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Speaker 4: Oh my word, Mary Madden, you should have named her

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Speaker 4: Mellie Bell.

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Speaker 2: She should have. So Mellie just rings the bell all

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Speaker 2: the time.

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Speaker 4: She does well. In the beginning, every time they would

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Speaker 4: go out and they would come back in, I would

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Speaker 4: give them a treat a little time, you know, I

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Speaker 4: have like the little tiny training treats, so they're tiny,

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Speaker 4: So then they would just do it to get a treat.

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Speaker 4: Then finally I'm like, okay, this is not work anymore.

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Speaker 4: You you can't walk outside for five seconds, come back

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Speaker 4: in and get a treat. Because I was going with

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Speaker 4: it because I'm thinking I want them to come back

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Speaker 4: in when I asked them to so with the treats.

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Speaker 4: And then it just it, you know, just got out.

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Speaker 2: Of George going along with that. Georgia is smart, but

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Speaker 2: she she's like, I'm too mature for this bell thing.

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Speaker 2: Georgia won't do it. She she likes to talk. She

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Speaker 2: doesn't like the bell.

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Speaker 4: True, but they were so limited and there, you know,

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Speaker 4: where they could go outside for several days, so they

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Speaker 4: were not happy about that.

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Speaker 2: I saw the photos, ladies and gentlemen. Where we live,

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Speaker 2: the blizzard hit the worst where we lived out.

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Speaker 4: Of all, Yeah, I think we.

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Speaker 2: Inches insanity. I looked at a photo my mom sent me,

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Speaker 2: and this the snow almost covered our fence. Incredible.

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Speaker 4: I know, I've never seen anything like that.

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Speaker 2: That must have been crazy to witness. That was probably

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Speaker 2: the most surreal photo I've ever seen. So I showed

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Speaker 2: it to my friends. They couldn't believe it. And I saw,

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Speaker 2: you know, footage from local businesses that post on their

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Speaker 2: Instagram and their social media of you know, their parking lots,

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Speaker 2: and I mean, it took forever for East Main Road

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Speaker 2: to get paved. It took forever for all these places

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Speaker 2: in Rhode Island to get paved, or specifically on a

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Speaker 2: Quinnock Island, and you know, people were working very hard

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Speaker 2: over time just to focus on the main roads. Here

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Speaker 2: at Bryant. They did their best. They tried to beat

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Speaker 2: it a little bit and they did a good job.

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Speaker 2: But it's hard to walk from class without tripping. The

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Speaker 2: slush is horrible. People are calling it mashed potato, and

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Speaker 2: so people are walking on in mashed potatoes to get

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Speaker 2: to class. And I've slipped multiple times. Haven't fallen, but

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Speaker 2: I've you know, I've slipped up a little bit, had

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Speaker 2: to catch myself. Every time I walk, I have to

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Speaker 2: catch myself. So it's just really bad. So a lot

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Speaker 2: of it's been nice because you know, classes were kind

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Speaker 2: of pushed back a little bit, kind of give us

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Speaker 2: some breathing room. Been able to have a lot of fun.

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Speaker 2: It's like a super weekend. It's a holiday, but then

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Speaker 2: on the other end, it's really difficult to get from

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Speaker 2: point A to point B.

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Speaker 4: Yeah, so what else is going on? William?

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Speaker 2: So additionally, ladies and gentlemen, Mom and I can't be

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Speaker 2: together today and so we are doing our segment today. Virtually,

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Speaker 2: I'm looking at her on a screen right now. She

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Speaker 2: can't see me. There's something wrong with my camera. So

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Speaker 2: this is a little bit of an adjustment. Especially with

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Speaker 2: the blizzard. It's it's basically impossible to get home safely.

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Speaker 2: You know. I don't want to drive on that in

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Speaker 2: whatever's left with the snow.

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Speaker 4: Agreed.

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Speaker 2: There's a student showcase that's coming up pretty soon for entrepreneurs.

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Speaker 2: I think I'll go to that and present analytical investments,

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Speaker 2: so I'll be showing my company.

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Speaker 4: Oh good, William, that'll be exciting.

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Speaker 2: I'm very excited. They also have a mentorship program. I'm

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Speaker 2: going to sign up for that. I believe there's an

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Speaker 2: entrepreneur who's coming and you can have a meeting with

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Speaker 2: him and get to know him and get some advice

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Speaker 2: as well. So that's something I also look forward to

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Speaker 2: in the coming weeks. It should be it around March,

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Speaker 2: so it should be fun. I'm very excited. The Entrepreneurship

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Speaker 2: Center will certainly kind of get to know me a

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Speaker 2: little bit better. I'll put my face in there finally.

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Speaker 2: And the showcase is also a competition, so I'm just

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Speaker 2: going to go and present and it'll be very interesting.

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Speaker 2: I'm excited for that.

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Speaker 4: Oh I bet I bet? So tell me.

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Speaker 2: How do you present? It's nothing like a power point.

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Speaker 2: It's like you're set up on tables and folks will

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Speaker 2: come up and judges as well, and you pretty much

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Speaker 2: just talk about your product and your business and you

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Speaker 2: go into detail about it. So that's personally what I

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Speaker 2: I'm looking forward to do because that's my kind of

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Speaker 2: sort of style. I like to just speak with people candidly,

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Speaker 2: you know what I mean.

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Speaker 4: Oh yeah, that is definitely one of your superpowers.

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Speaker 2: I'm very excited. Next semester, I plan on rushing Sigma Kai,

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Speaker 2: the fraternity here at Bryant University. It is the largest

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Speaker 2: one here and I like the people. I like the

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Speaker 2: kind of people they are here. They represent the fraternity

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Speaker 2: very well. Mom, you were in a sorority yourself? What

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Speaker 2: sorority were you in?

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Speaker 4: I was an eighty pie where I am an eighty

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Speaker 4: Pie still.

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Speaker 2: In a lum Do you have to pay dues?

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Speaker 4: Actually I do. I do. When I give referrals for women,

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Speaker 4: for young women who you know, have graduated from high

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Speaker 4: school and they're rushing, you know, their first year in college,

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Speaker 4: I've you know, you have.

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Speaker 1: To pay dues.

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Speaker 2: Wow, that's incredible.

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Speaker 4: Yes, But I had a great experience with eighty Pie.

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Speaker 4: And I was also the sweetheart of Ka.

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Speaker 2: Now that's a high on the rose.

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Speaker 4: That's what they called their sweetheart. I was very proud

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Speaker 4: of that, and I was the Southern Bale prior to

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Speaker 4: becoming their rose. But they were a great group of guys.

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Speaker 4: I was honor.

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Speaker 2: It's a lot of fraternities and sororities. They work really

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Speaker 2: hard to keep that image and to make sure that

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Speaker 2: they have good people behind them. And Sigma Kai here

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Speaker 2: does that. I like that a lot.

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Speaker 4: That's good William.

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Speaker 2: It seems like good people. So I'm very excited for all.

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Speaker 4: That I know you are. I'm excited for you.

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Speaker 2: Thank you.

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Speaker 4: So tell did you have you had your economics test

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Speaker 4: not too long ago.

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Speaker 2: I did have that. I thought I did well. I

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Speaker 2: came in very confidently. I had studied and you know,

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Speaker 2: I finished the test and a good amount of time,

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Speaker 2: and I unfortunately didn't do too well scoring. My grade's

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Speaker 2: still an A in the class, so it didn't hurt

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Speaker 2: that well, but the class average was fifty four. Oh, William,

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Speaker 2: I couldn't believe my eyes, and so I didn't feel

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Speaker 2: as bad. But still, obviously I studied really hard. I

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Speaker 2: wanted to do very well in the exam, but unfortunately

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Speaker 2: it was a miss. I'm happy my grade is still

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Speaker 2: good in the class, but it just was kind of

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Speaker 2: surprising to see that, and to also see how poorly

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Speaker 2: other people did as well. He's a great professor, but

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Speaker 2: I mean, it was our first exam. We weren't used

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Speaker 2: to it. His grating is a little unique. You know,

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Speaker 2: if you do like an equation and you give the

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Speaker 2: answer and you don't leave like equals to like for example,

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Speaker 2: let's say solving for Q. Let's say I do the

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Speaker 2: equation and I solve for Q, and I circle the answer.

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Speaker 2: If I don't write the answer equals Q and not

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Speaker 2: just the answer, he'll mark it completely incorrect. And that's

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Speaker 2: not bad. Obviously, he's trying to instill good habits of

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Speaker 2: like put equals q after the answer, but like, that's

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Speaker 2: the kind of greater eas I got to look at

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Speaker 2: the exam, and I need to look at what I

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Speaker 2: did wrong and what I need to work on so

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Speaker 2: I can figure it out for the for the midterm,

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Speaker 2: because I do want to do well in the midterm,

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Speaker 2: and I am doing well in this class. But I

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Speaker 2: wanted to be an economics major, and after I took

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Speaker 2: an economics course and had a lot of thought about it,

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Speaker 2: I realized that it was not for me. It's not

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Speaker 2: my cup of tea after experiencing it. So I have

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Speaker 2: all the respect in the world for ECON majors, but

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Speaker 2: business and entrepreneurship is the focus I want to be

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Speaker 2: in and the real world stuff is personally what I

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Speaker 2: prefer to do. So we'll see. I have class on Friday,

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Speaker 2: we'll see how it goes.

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Speaker 4: Good. Good, at least you've got a good attitude about it.

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Speaker 2: Thanks, marm, I appreciate it.

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

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

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Speaker 4: Greg Workman will break down how the retirement tax trap

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Speaker 4: can quietly increase taxes through rmds, social Security taxation, medicare premiums,

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Speaker 4: and the widow's penalty and explain how proactive bracket management

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Speaker 4: and coordinated planning may help you keep more of what

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Speaker 4: you've worked so hard to save. Mary, Madeline Kelly, and

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Speaker 4: Greg Murray. We'll discuss why even the best financial plans

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Speaker 4: can slip off track and how structure, accountability, and steady

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Speaker 4: habits can help you reset and stay consistent. As we

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Speaker 4: head into spring, and when William and I return, we

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Speaker 4: will talk about how AI telehealth and shifting Medicare rules

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Speaker 4: are changing the long term care conversation and wine preparation

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Speaker 4: not panic may help protect your retirement. And of course

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Speaker 4: we'll close the hour with some wit and wisdom from

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

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

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

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Speaker 4: be back with more great content. I love you, honey,

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Speaker 4: I love you too.

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Speaker 5: Okay, my friends, let's be honest. Most young people don't

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Speaker 5: get real financial advice.

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Speaker 2: They get high social media.

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Speaker 5: Quote unquote experts and a lot of bad advice. Only

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Speaker 5: The invest Young written by William.

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Speaker 2: Kelly Junior from Kelly.

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Speaker 5: Financial Services, takes a different approach. It focuses on fundamentals,

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Speaker 5: avoiding unnecessary debt, understanding risk, faking long term, no get

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Speaker 5: rich quick schemes, no fantasy economics. The emphasis is on

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Speaker 5: practical ideas around money, responsibility and discipline. And of course,

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Speaker 5: like anything involving investing, there's always risk and that includes

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Speaker 5: the possibility of losing principle. And that's exactly why learning

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Speaker 5: how to think about money early matters. The book is

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Speaker 5: designed as an educational resource for those starting out, or

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Speaker 5: for parents and grandparents looking to begin the conversation.

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Speaker 2: To request a.

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Speaker 5: Free copy, call eight eight eight eight hundred and eighteen

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Speaker 5: eighty one or email Kelly at Kelly Financial dot org.

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Speaker 6: Welcome back to the show on Mike You said, Chief

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Speaker 6: operating officer at Kelly Financial, joined as always by Greg Workman,

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Speaker 6: investment advisor, and today we're continuing our retirement planning series.

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Speaker 1: Over the past few weeks, we've talked about retirement.

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Speaker 6: Expenses, we've talked about income sources like social Security and pensions,

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Speaker 6: and last week we discussed why order matters when it

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Speaker 6: comes to withdrawing your money in retirement. But today we're

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Speaker 6: going to talk about something that quietly chips away at retirement.

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Speaker 1: Plans year after year taxes and Mike.

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Speaker 7: This is the part that surprises people. Many retirees assume

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Speaker 7: that once they stop working, their taxes will automatically go down.

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Speaker 2: Right.

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Speaker 6: The thinking is, no paycheck, lower income, lower taxes seems logical,

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Speaker 6: but what we see in real planning conversations is often

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Speaker 6: very different.

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Speaker 7: In fact, some retirees end up paying more taxes in

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Speaker 7: their seventies and beyond than they did in their early

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Speaker 7: retirement years, and the frustrating part, a lot of it

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Speaker 7: could have been reduced with proac planning.

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Speaker 6: When someone retires at sixty two, sixty five, even age

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Speaker 6: sixty seven, there's often this sense of relief.

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Speaker 1: They've crossed the finish line.

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Speaker 6: They've accumulated the assets, they've done what they were told

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Speaker 6: to do, max out the four to one K, defer

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Speaker 6: taxes as long as possible. But retirement isn't just about accumulation.

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Speaker 6: It's about distribution, and distribution planning is where taxes really

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Speaker 6: begin to matter.

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Speaker 7: Because now income is coming from multiple places social Security pensions, iras,

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Speaker 7: four to one ks, and maybe rental income from real

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Speaker 7: estate holdings, and how those pieces stacked together determines the

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Speaker 7: tax bill.

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Speaker 6: Let's walk through a hypothetical client example. Jim is sixty six,

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Speaker 6: Linda is sixty four. They've just retired. They've done a

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Speaker 6: fantastic job, saving about one point four million in traditional

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Speaker 6: pre tax four oh one k and IRA accounts. Jim

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Speaker 6: has a modest pension, they planned to stot social security

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Speaker 6: at sixty seven, and they have very little in ROTH accounts.

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Speaker 7: They sit down and say, we've always heard the taxes

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Speaker 7: go down in retirement.

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Speaker 2: We should be fine.

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Speaker 7: Right on the surface, yes, but when we map out

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Speaker 7: their next twenty years, we start to see a pattern.

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Speaker 7: Between ages sixty six and seventy two, their income actually

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Speaker 7: looks manageable.

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Speaker 2: They control how much they withdraw.

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Speaker 7: They're not yet subject to required minimum distributions or IRS rmds,

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Speaker 7: Their taxable income sits in a reasonable bracket.

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Speaker 2: Everything feels smooth.

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Speaker 6: But at age seventy three, the rules change. The IRS

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Speaker 6: now requires them to begin taking required minimum distributions from

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Speaker 6: their pre tax accounts, and for Jim and Linda, that

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Speaker 6: first RMD could be somewhere around fifty five thousand or more,

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Speaker 6: depending on growth. Now, let's layer in social security for

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Speaker 6: both Jim's pension the rm D. Suddenly their taxable income

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Speaker 6: jumps significantly.

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Speaker 7: This is where many retirees are cut off guard. Social

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Speaker 7: Security isn't automatically tax free. Depending upon total income, up

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Speaker 7: to eighty five percent of your Social Security benefit can

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Speaker 7: become taxable.

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Speaker 6: So now the RMD increases income, which causes more of

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Speaker 6: Social Security to be taxed, which increases income even further.

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Speaker 1: It's almost like a chain reaction.

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Speaker 7: There's another ripple effect most retirees don't see coming. Medicare

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Speaker 7: premiums are income based, which means if your income crosses

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Speaker 7: certain thresholds, you can be subject to IRMA or income

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Speaker 7: related monthly adjustment amount, which increases your Medicare Part B

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Speaker 7: and Part D premiums.

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Speaker 6: So now higher rmds, more Social Security tax, higher Medicare premiums,

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Speaker 6: and all of it triggered by how retirement accounts a structured.

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Speaker 7: Now let's take this hypothetical scenario one one step further.

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Speaker 2: If Jim passes away.

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Speaker 7: First, now Linda files as a single taxpayer. Household income

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Speaker 7: might decrease slightly, but tax brackets for single filers are compressed,

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Speaker 7: so Linda could end up paying taxes at a higher

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Speaker 7: rate on a similar income level. That's what we call

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Speaker 7: the widow's penalty. It's one of the most overlooked risks

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Speaker 7: in retirement planning.

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Speaker 6: What's interesting, Greg is many people think the safe strategy

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Speaker 6: is to leave everything alone.

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Speaker 7: But doing nothing is actually a tax strategy. It just

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Speaker 7: means the IRS controls the timing instead of you.

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Speaker 6: If most of your time and savings sit in pre

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Speaker 6: tax accounts, you've essentially built a partnership with the IRS,

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Speaker 6: and they'll collect their share when rmds begin. The longer

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Speaker 6: you wait without a plan, the less flexibility you have.

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Speaker 2: Here's the opportunity.

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Speaker 7: The years between retirement and age seventy three before our

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Speaker 7: our mds begin can be some of the most powerful

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Speaker 7: planning years of your life. Income is often temporarily lower.

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Speaker 7: During this time period you can control withdrawals. You can

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Speaker 7: intentionally decide how much taxable income to recognize, but that

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Speaker 7: window doesn't stay open forever.

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Speaker 6: Instead of asking how do we avoid taxes completely, the

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Speaker 6: better question is how do we control our tax bracket

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Speaker 6: over time? Because retirement isn't about eliminating taxes, it's about

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Speaker 6: managing them strategically so they don't surprise you later.

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Speaker 7: And for many families, taxes quietly become one of the

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Speaker 7: largest lifetime expenses, sometimes larger than healthcare or market fluctuations.

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Speaker 6: When we come back next week, we'll walk through specific

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Speaker 6: strategies retirees can use to potentially reduce lifetime taxes. We'll

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Speaker 6: discuss strategic growth conversions, intentionally filling lower tax brackets, coordinating

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Speaker 6: social security timing, and other proactive planning techniques, because in retirement,

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Speaker 6: it's not what you would draw, it's what you keep.

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Speaker 6: If you'd like a copy of our Safe Money Strategies workbook,

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Speaker 6: where we outline how income planning and tax planning work together,

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Speaker 6: give us a call. We're happy to send that out complementary.

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Speaker 6: We'll be right back after the break.

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

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

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

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00:22:34,080 --> 00:22:38,359
Speaker 4: act in your best interest? My complimentary book, Retire Your Fear,

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00:22:38,480 --> 00:22:41,960
Speaker 4: Plan Your Future, explains what a fiduciary is and will

411
00:22:41,960 --> 00:22:45,679
Speaker 4: help you understand if an advisor is really putting you first.

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

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

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Speaker 4: Kelly Financial Come retire with us.

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Speaker 1: I believe that this nation should commit it so achieving.

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00:22:59,520 --> 00:23:02,280
Speaker 6: The goal of landing a man on the moon and

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00:23:02,320 --> 00:23:04,560
Speaker 6: returning him safely to the Earth.

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Speaker 8: Six five four three two one zero, All engine run?

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00:23:13,520 --> 00:23:15,399
Speaker 1: What's what's going to follow?

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Speaker 3: Level?

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

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00:23:20,560 --> 00:23:24,520
Speaker 9: and achievements too. The nation set a goal and then

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Speaker 9: realized it. What are your goals? At Kelly Financial Services,

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Speaker 9: We've got the right team and technology to help launch

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00:23:32,640 --> 00:23:36,000
Speaker 9: your retirement planning. Let us help you set and reach

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00:23:36,080 --> 00:23:40,360
Speaker 9: your goals for your greatest adventure and achievement. Call us

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00:23:40,480 --> 00:23:43,000
Speaker 9: at eight eight eight eight hundred and eighteen eighty one

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00:23:43,480 --> 00:23:46,840
Speaker 9: or visit us at Kelly Financial dot org. Where do

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Speaker 9: you want to land?

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Speaker 3: We're in Tangalitybaviorland.

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Speaker 9: We are Kelly Financial Services. Come retire with.

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Speaker 3: Us The Money Wrap with Kelly Financial Advisors, Great K.

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Speaker 3: Murray and Mary Madeline Kelly.

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Speaker 1: Hello, this is Greig Murray, Senior Vice President and Chief

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Speaker 1: Compliance Officer at Kelly Financial Services. Joining me today is

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Speaker 1: Mary Madeline Kelly, one of our wealth advisors. How are

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Speaker 1: you doing today?

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Speaker 10: I'm doing great, Greg and Honestly, I can't believe this

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Speaker 10: is the last weekend of February. Already, it feels like

440
00:24:19,240 --> 00:24:22,760
Speaker 10: January dragged on forever and now suddenly we're right on

441
00:24:22,760 --> 00:24:23,520
Speaker 10: the edge of spring.

442
00:24:24,000 --> 00:24:26,640
Speaker 11: I don't know about you, but I am definitely.

443
00:24:26,200 --> 00:24:29,040
Speaker 10: Ready for some longer days and a little more sunshine.

444
00:24:29,080 --> 00:24:31,280
Speaker 1: Same here. By this time of year, everyone starts looking

445
00:24:31,280 --> 00:24:34,280
Speaker 1: forward to a reset, former weather, more energy, get it

446
00:24:34,320 --> 00:24:38,080
Speaker 1: back outside, And interestingly, that same fresh start mindset shows

447
00:24:38,160 --> 00:24:39,080
Speaker 1: up financially too.

448
00:24:39,280 --> 00:24:39,840
Speaker 11: Exactly.

449
00:24:40,080 --> 00:24:45,280
Speaker 10: January is when everyone sets financial goals, saving more, investing more,

450
00:24:45,520 --> 00:24:49,000
Speaker 10: paying down debt, finally getting organized. But by the end

451
00:24:49,080 --> 00:24:52,520
Speaker 10: of February, reality tends to set in, routines take over,

452
00:24:52,760 --> 00:24:54,640
Speaker 10: and some of those goals start slipping.

453
00:24:54,400 --> 00:24:57,200
Speaker 1: Which leads perfectly into today's topic, why we make good

454
00:24:57,240 --> 00:24:59,760
Speaker 1: financial plans and then sometimes struggle to follow them.

455
00:25:00,000 --> 00:25:02,159
Speaker 10: I think it's important to start by saying this happens

456
00:25:02,200 --> 00:25:06,320
Speaker 10: to almost everyone. It's not about lack of intelligence or discipline.

457
00:25:06,440 --> 00:25:07,359
Speaker 10: It's human nature.

458
00:25:07,440 --> 00:25:11,440
Speaker 1: Absolutely. Behavioral finance shows us that emotion, habits, and environment

459
00:25:11,520 --> 00:25:14,080
Speaker 1: often influence financial decisions more than logic does.

460
00:25:14,200 --> 00:25:16,760
Speaker 10: One of the biggest reasons people fall off track is

461
00:25:16,800 --> 00:25:21,200
Speaker 10: that motivation fades in January, everything feels fresh, but financial

462
00:25:21,240 --> 00:25:25,120
Speaker 10: progress is usually gradual, not immediate. Without quick feedback, it's

463
00:25:25,160 --> 00:25:28,600
Speaker 10: easy to lose momentum. Other factor is how overwhelming finance is.

464
00:25:28,840 --> 00:25:33,320
Speaker 10: A financial plan can involve investments, taxes, retirement accounts, insurance, budgeting,

465
00:25:33,480 --> 00:25:36,680
Speaker 10: and that's a lot to manage, especially alongside busy lives. Yes,

466
00:25:36,760 --> 00:25:40,320
Speaker 10: and when something feels complicated, people sometimes avoid it altogether.

467
00:25:40,560 --> 00:25:44,400
Speaker 10: They might stop checking accounts, delay decisions, or just hope

468
00:25:44,400 --> 00:25:45,720
Speaker 10: things work out for themselves.

469
00:25:45,840 --> 00:25:48,800
Speaker 1: And ironically, avoidance often causes more stress than the original

470
00:25:48,880 --> 00:25:49,800
Speaker 1: issue exactly.

471
00:25:50,080 --> 00:25:54,600
Speaker 10: Another reason planned slip is emotional reactions to market movements.

472
00:25:54,800 --> 00:25:58,639
Speaker 10: When markets are strong, people may feel overconfident. When markets dip,

473
00:25:58,760 --> 00:26:00,840
Speaker 10: fear can cause people to pull back from a long

474
00:26:00,960 --> 00:26:02,280
Speaker 10: term strategy.

475
00:26:01,760 --> 00:26:04,360
Speaker 1: And of course, investing the ball's risk, including the potential

476
00:26:04,359 --> 00:26:06,679
Speaker 1: loss of principle. Market ups and downs a normal, but

477
00:26:06,840 --> 00:26:10,280
Speaker 1: reacting emotionally instead of strategically can disrupt the good plan.

478
00:26:10,560 --> 00:26:12,800
Speaker 11: Lifestyle changes also play a role.

479
00:26:13,119 --> 00:26:18,240
Speaker 10: Unexpected expenses, career changes, family needs, life happens. Plans sometimes

480
00:26:18,280 --> 00:26:21,560
Speaker 10: need a stick, but without review they can quietly fall off.

481
00:26:21,440 --> 00:26:24,639
Speaker 1: Course, and sometimes it's simply a habit. Financial behaviors like

482
00:26:24,680 --> 00:26:28,119
Speaker 1: spending patterns or saving routines are deeply ingrained. Changing them

483
00:26:28,200 --> 00:26:30,119
Speaker 1: takes time and consistency.

484
00:26:29,560 --> 00:26:31,359
Speaker 11: Which is why automation can help.

485
00:26:31,600 --> 00:26:35,359
Speaker 10: Automatic contributions, automatic savings, scheduled reviews.

486
00:26:35,600 --> 00:26:39,600
Speaker 12: Those reduce reliance on willpower. Loan another key pieces accountability.

487
00:26:39,720 --> 00:26:41,560
Speaker 12: People tend to stick with plans more when they have

488
00:26:41,640 --> 00:26:44,359
Speaker 12: someone to check in with, whether that's a spouse, advisor,

489
00:26:44,520 --> 00:26:46,320
Speaker 12: or trusted professional exactly.

490
00:26:46,600 --> 00:26:49,600
Speaker 10: Having a sounding board helps turn intentions into action.

491
00:26:49,880 --> 00:26:52,720
Speaker 1: So as we head towards spring, us seasoned people often

492
00:26:52,760 --> 00:26:55,840
Speaker 1: associated with fresh starts. Whatting listeners do if they're January

493
00:26:55,920 --> 00:26:57,120
Speaker 1: financial goals have slipped.

494
00:26:57,200 --> 00:27:01,840
Speaker 10: First, don't beat yourself up. Resetting is normal. Second, simplify

495
00:27:02,160 --> 00:27:05,199
Speaker 10: focus on a few key priorities instead of trying to

496
00:27:05,280 --> 00:27:08,880
Speaker 10: change everything at once. Third, review your plan, make sure

497
00:27:08,920 --> 00:27:10,640
Speaker 10: it still fits your life today.

498
00:27:10,359 --> 00:27:13,160
Speaker 1: And remember consistency usually matters more than perfection.

499
00:27:13,400 --> 00:27:16,600
Speaker 10: Absolutely, small, steady steps add up over time.

500
00:27:16,720 --> 00:27:18,960
Speaker 1: So to summarize for our listeners, we often make good

501
00:27:18,960 --> 00:27:22,280
Speaker 1: financial plans, must struggle to follow them because motivation fades,

502
00:27:22,400 --> 00:27:26,000
Speaker 1: life gets busy, emotions influence decisions, and habits take time

503
00:27:26,080 --> 00:27:26,560
Speaker 1: to change.

504
00:27:26,640 --> 00:27:31,440
Speaker 10: And the solution isn't willpower alone. It's structure, clarity, automation and.

505
00:27:31,359 --> 00:27:35,080
Speaker 1: Support and as always, every financial situation is unique. Investing

506
00:27:35,080 --> 00:27:37,760
Speaker 1: involves risks and plans should be tailored to individual goals

507
00:27:37,760 --> 00:27:38,639
Speaker 1: and circumstances.

508
00:27:38,680 --> 00:27:41,600
Speaker 10: But with the right structure, people can absolutely stay on

509
00:27:41,680 --> 00:27:43,800
Speaker 10: track and feel more confident along the way.

510
00:27:43,920 --> 00:27:45,639
Speaker 1: That's going to wrap things up for today. If you

511
00:27:45,720 --> 00:27:48,200
Speaker 1: made financial goals this year and what helps saying on track,

512
00:27:48,240 --> 00:27:49,960
Speaker 1: give us a call. We'd be happy to talk you

513
00:27:50,000 --> 00:27:50,800
Speaker 1: through your situation.

514
00:27:51,119 --> 00:27:53,119
Speaker 11: Absolutely, have a great weekend. Greg.

515
00:27:53,400 --> 00:27:56,280
Speaker 3: To get in touch with Greg Murray or Mary Madeline

516
00:27:56,359 --> 00:27:59,880
Speaker 3: Kelly or any member of the Kelly Financial team, call

517
00:28:00,080 --> 00:28:03,879
Speaker 3: at eight hundred eighteen eighty one people.

518
00:28:07,359 --> 00:28:10,159
Speaker 9: I'm John Boudris, and welcome to a new edition of

519
00:28:10,240 --> 00:28:13,800
Speaker 9: Kelly Financial's What Would Bill Say? The Wit and Wisdom

520
00:28:13,840 --> 00:28:18,040
Speaker 9: of the late Bill Kelly. Today will address fact from fiction.

521
00:28:18,560 --> 00:28:20,760
Speaker 8: You can always make money if you haven't if you

522
00:28:20,840 --> 00:28:23,520
Speaker 8: lose it all, it's very difficult to do that. So

523
00:28:23,560 --> 00:28:25,760
Speaker 8: you have to have a plan. If the market goes

524
00:28:26,200 --> 00:28:28,439
Speaker 8: up quite a bit or down quite a bit, you

525
00:28:28,560 --> 00:28:30,840
Speaker 8: have to be ready and how do you sort fact

526
00:28:30,920 --> 00:28:31,480
Speaker 8: from fiction?

527
00:28:31,800 --> 00:28:36,320
Speaker 9: Download Kelly Financial's Consumer Guide simply called the Value of

528
00:28:36,359 --> 00:28:39,760
Speaker 9: an objective opinion? With so much at steak with your

529
00:28:39,800 --> 00:28:44,240
Speaker 9: retirement future. You don't just want any financial advice, but

530
00:28:44,480 --> 00:28:49,520
Speaker 9: objective financial advice, and as a fiduciary, Kelly Financial puts

531
00:28:49,640 --> 00:28:54,280
Speaker 9: your interests above all else. Go to Kellyfinancial dot Org

532
00:28:54,440 --> 00:28:57,360
Speaker 9: or call eight eight eight eight hundred and eighteen eighty

533
00:28:57,400 --> 00:28:58,640
Speaker 9: one to get the guide.

534
00:28:58,760 --> 00:29:01,000
Speaker 2: Ladies and gentlemen, fact from fiction.

535
00:29:01,240 --> 00:29:04,760
Speaker 9: We are Kelly Financial Services. Come retire with.

536
00:29:04,640 --> 00:29:10,160
Speaker 3: Us Safe Money Strategies with William Kelly and Kelly Kelly.

537
00:29:10,400 --> 00:29:13,800
Speaker 3: Call the team on eight eight eight eight hundred, eighteen

538
00:29:14,040 --> 00:29:19,960
Speaker 3: eighty one Taking Care.

539
00:29:21,520 --> 00:29:25,920
Speaker 4: Welcome back to Safe Money Strategies. I'm Kelly Kelly here

540
00:29:25,960 --> 00:29:30,480
Speaker 4: with my son William Kelly Junior. Good morning William. Today

541
00:29:30,560 --> 00:29:35,320
Speaker 4: we're talking about something that affects almost every family listening,

542
00:29:35,800 --> 00:29:39,680
Speaker 4: long term care, but we're looking at it through a

543
00:29:39,840 --> 00:29:40,520
Speaker 4: new lens.

544
00:29:41,000 --> 00:29:43,240
Speaker 2: Artificial intelligence exactly.

545
00:29:43,560 --> 00:29:49,320
Speaker 4: AI is transforming healthcare, especially long term care and aging

546
00:29:49,400 --> 00:29:53,600
Speaker 4: in place. But here's the key. Technology only works if

547
00:29:53,600 --> 00:29:57,000
Speaker 4: families are financially prepared to access it.

548
00:29:57,280 --> 00:29:59,720
Speaker 2: That's the part people don't always think about. To here innovation,

549
00:30:00,000 --> 00:30:01,040
Speaker 2: they don't think about cost.

550
00:30:01,520 --> 00:30:06,560
Speaker 4: Let's start with the reality. Roughly seven and ten Americans

551
00:30:06,760 --> 00:30:10,800
Speaker 4: over age sixty five are expected to need some form

552
00:30:11,000 --> 00:30:12,160
Speaker 4: of long term care.

553
00:30:12,520 --> 00:30:14,640
Speaker 2: That's not a small number, not at all.

554
00:30:14,960 --> 00:30:18,920
Speaker 4: And the median private nursing home cost was over one

555
00:30:19,000 --> 00:30:22,560
Speaker 4: hundred and five thousand dollars per year just a few

556
00:30:22,640 --> 00:30:26,960
Speaker 4: years ago and is projected significantly higher now.

557
00:30:27,280 --> 00:30:29,600
Speaker 2: And technology doesn't eliminate those costs.

558
00:30:30,000 --> 00:30:35,360
Speaker 4: No, it may improve quality of care, it may extend independence,

559
00:30:35,680 --> 00:30:42,640
Speaker 4: but smart home monitoring, telehealth devices, medication systems, they all

560
00:30:42,680 --> 00:30:43,640
Speaker 4: require funding.

561
00:30:44,080 --> 00:30:46,160
Speaker 2: So independence isn't just about health.

562
00:30:46,080 --> 00:30:48,880
Speaker 4: It's about financial strength.

563
00:30:48,880 --> 00:30:52,400
Speaker 2: And financial fitness determines whether families can choose enhanced care options,

564
00:30:52,480 --> 00:30:54,400
Speaker 2: who are forced into reactive decisions.

565
00:30:54,680 --> 00:30:58,400
Speaker 4: And many of today's new tools come with both opportunity

566
00:30:58,640 --> 00:31:03,200
Speaker 4: and cost. And one of the biggest opportunities people talk

567
00:31:03,240 --> 00:31:05,800
Speaker 4: about today is aging in place.

568
00:31:06,120 --> 00:31:07,920
Speaker 2: Aging in place is what most people say they.

569
00:31:07,920 --> 00:31:11,960
Speaker 4: Want, staying at home, maintaining independence.

570
00:31:12,560 --> 00:31:16,200
Speaker 2: And now we have wearables, faull detection systems, in home sensors.

571
00:31:16,080 --> 00:31:21,560
Speaker 4: Smart medication dispensers that reduce errors and hospital visits.

572
00:31:22,000 --> 00:31:23,880
Speaker 2: But here's the real question. Who pays.

573
00:31:24,160 --> 00:31:29,120
Speaker 4: Most of these technologies are private pay. Medicare generally does

574
00:31:29,160 --> 00:31:32,080
Speaker 4: not cover home monitoring systems.

575
00:31:31,920 --> 00:31:33,680
Speaker 2: So if you don't have reserves or a long term

576
00:31:33,720 --> 00:31:34,600
Speaker 2: strategy in place.

577
00:31:34,880 --> 00:31:38,800
Speaker 4: You may not be able to install or maintain those systems.

578
00:31:39,400 --> 00:31:43,240
Speaker 4: Prevention is powerful, but it still requires preparation.

579
00:31:43,760 --> 00:31:46,880
Speaker 2: That's something we talk about often. Investing in preventative tools

580
00:31:47,000 --> 00:31:48,360
Speaker 2: versus paying for crisis care.

581
00:31:48,440 --> 00:31:54,280
Speaker 4: Lead planning creates flexibility, and AI goes beyond monitoring. It

582
00:31:54,320 --> 00:31:56,200
Speaker 4: can actually predict risk.

583
00:31:56,760 --> 00:31:59,920
Speaker 2: This is fascinating. AI can analyze health data to detect

584
00:32:00,080 --> 00:32:03,560
Speaker 2: fall risk, infection patterns, even cognitive changes.

585
00:32:03,400 --> 00:32:06,520
Speaker 4: Which means earlier intervention and.

586
00:32:06,520 --> 00:32:08,480
Speaker 2: Potentially fewer hospital readmissions.

587
00:32:08,800 --> 00:32:14,160
Speaker 4: Avoiding just one extended hospitalization can mean tens of thousands

588
00:32:14,200 --> 00:32:15,200
Speaker 4: of dollars saved.

589
00:32:15,560 --> 00:32:19,560
Speaker 2: That's not theoretical, that's real money and it's real stress.

590
00:32:19,880 --> 00:32:24,360
Speaker 2: So the best financial strategy avoiding preventable surprises, which is

591
00:32:24,360 --> 00:32:28,000
Speaker 2: what safe money planning is built around protecting retirement income

592
00:32:28,040 --> 00:32:29,200
Speaker 2: from financial shocks.

593
00:32:29,400 --> 00:32:32,880
Speaker 4: We can't prevent every help event, but we can reduce

594
00:32:32,960 --> 00:32:38,080
Speaker 4: the financial impact when possible, and caregivers often fill those

595
00:32:38,160 --> 00:32:39,560
Speaker 4: surprises the most.

596
00:32:39,960 --> 00:32:42,600
Speaker 2: Long term care doesn't just affect one person, it affects

597
00:32:42,640 --> 00:32:43,520
Speaker 2: the entire family.

598
00:32:43,680 --> 00:32:48,720
Speaker 4: About sixty two percent of caregivers report lost income due

599
00:32:48,760 --> 00:32:50,920
Speaker 4: to caregiving responsibilities.

600
00:32:51,320 --> 00:32:55,800
Speaker 2: That's significant lost wages, reduced retirement contributions, career disruption.

601
00:32:56,360 --> 00:33:02,640
Speaker 4: AI coordination tools can reduce scheduling and documentation burdens.

602
00:33:03,000 --> 00:33:06,040
Speaker 2: Yes, they can help, but families without financial buffers often

603
00:33:06,040 --> 00:33:07,520
Speaker 2: experience greater strength.

604
00:33:07,360 --> 00:33:11,680
Speaker 4: And in some families, adult children feel pressure to use

605
00:33:11,720 --> 00:33:14,120
Speaker 4: their own retirement savings to help.

606
00:33:14,320 --> 00:33:16,560
Speaker 2: That creates long term ripple effects.

607
00:33:16,160 --> 00:33:20,800
Speaker 4: Which is why we encourage proactive long term care conversations

608
00:33:21,000 --> 00:33:26,160
Speaker 4: before a crisis hits. And beyond safety and stress, dignity

609
00:33:26,240 --> 00:33:31,760
Speaker 4: matters too, because long term care isn't just physical, is emotional, and.

610
00:33:31,720 --> 00:33:35,120
Speaker 2: That's where tools like aipowered companions and virtual reality engagement

611
00:33:35,160 --> 00:33:36,040
Speaker 2: programs come in.

612
00:33:36,480 --> 00:33:43,040
Speaker 4: Voice assistants that allow seniors to control their home environment independently.

613
00:33:42,880 --> 00:33:46,120
Speaker 2: That supports emotional wellness and cognitive engagement.

614
00:33:45,960 --> 00:33:47,840
Speaker 4: And preserves autonomy.

615
00:33:48,320 --> 00:33:51,080
Speaker 2: Assistant living facilities and home care providers are beginning to

616
00:33:51,120 --> 00:33:53,360
Speaker 2: integrate more of these technologies.

617
00:33:52,840 --> 00:33:57,480
Speaker 4: But higher quality facilities with enhanced technology may come with

618
00:33:57,640 --> 00:33:59,000
Speaker 4: higher monthly fees.

619
00:33:59,480 --> 00:34:02,120
Speaker 2: Without play, families may have to make decisions under pressure.

620
00:34:02,400 --> 00:34:06,720
Speaker 4: With planning, they have options. So where does medicare fit

621
00:34:06,960 --> 00:34:07,800
Speaker 4: into all of this?

622
00:34:08,760 --> 00:34:11,040
Speaker 2: Many people assume Medicare covers long term care.

623
00:34:11,280 --> 00:34:15,280
Speaker 4: Medicare may cover up to one hundred days of skilled

624
00:34:15,400 --> 00:34:19,560
Speaker 4: nursing under very specific conditions, but it does not cover

625
00:34:19,640 --> 00:34:24,040
Speaker 4: custodial long term care, and home safety technology and monitoring

626
00:34:24,120 --> 00:34:26,400
Speaker 4: systems are generally not covered.

627
00:34:26,800 --> 00:34:29,319
Speaker 2: Many families are surprised to learn what Medicare does and

628
00:34:29,400 --> 00:34:30,280
Speaker 2: does not cover.

629
00:34:30,280 --> 00:34:34,640
Speaker 4: Which is why education matters. At Kelly Financial, we offer

630
00:34:34,719 --> 00:34:39,840
Speaker 4: a complementary investor guide titled You are looking forward to

631
00:34:40,040 --> 00:34:43,040
Speaker 4: retirement But what if you need long term Care?

632
00:34:43,480 --> 00:34:46,600
Speaker 2: It walks through costs, coverage realities, and funding strategies.

633
00:34:46,800 --> 00:34:51,120
Speaker 4: Because technology can extend independence.

634
00:34:50,800 --> 00:34:53,400
Speaker 2: But planning is designed to help you prepare for your retirement.

635
00:34:53,600 --> 00:34:59,000
Speaker 4: When we return, we'll examine telehealth, Medicare policy changes and

636
00:34:59,160 --> 00:35:03,400
Speaker 4: what financial readiness really looks like in an AI driven

637
00:35:03,600 --> 00:35:05,160
Speaker 4: healthcare world, and.

638
00:35:05,120 --> 00:35:08,040
Speaker 2: We'll talk about how families can prepare wisely before decisions

639
00:35:08,040 --> 00:35:09,040
Speaker 2: are forced on them.

640
00:35:09,280 --> 00:35:14,400
Speaker 4: Stay with us, we'll be right back after these messages.

641
00:35:15,440 --> 00:35:19,560
Speaker 3: Safe money strategies brought to you by Kelly Financial Services.

642
00:35:19,719 --> 00:35:23,520
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

643
00:35:23,600 --> 00:35:25,520
Speaker 3: visit Kellyfinancial dot org.

644
00:35:26,120 --> 00:35:30,080
Speaker 9: Ready to enjoy your golden years without worry. At Kelly Financial,

645
00:35:30,160 --> 00:35:33,520
Speaker 9: we know retirement planning can be overwhelming. With more than

646
00:35:33,560 --> 00:35:37,279
Speaker 9: twenty two years of experience. Our friendly team of advisors

647
00:35:37,320 --> 00:35:40,439
Speaker 9: makes it easy and stress free. Trust us to help

648
00:35:40,480 --> 00:35:43,960
Speaker 9: you create a secure and enjoyable future. For a free

649
00:35:44,000 --> 00:35:48,280
Speaker 9: initial retirement consultation called eight eight eight eight hundred eighteen

650
00:35:48,360 --> 00:35:52,080
Speaker 9: eighty one or email Kelly at Kelly Financial dot org.

651
00:35:52,320 --> 00:35:54,760
Speaker 9: We're Kelly Financial. Come retire with.

652
00:35:54,680 --> 00:35:59,600
Speaker 3: Us Safe Money Strategies with William Kelly and Kelly Kelly

653
00:36:00,200 --> 00:36:08,720
Speaker 3: the team on a eight eight hundreds eighteen eighty one.

654
00:36:10,440 --> 00:36:14,439
Speaker 4: Welcome back to Save Money Strategies. I'm Kelly Kelly here

655
00:36:14,480 --> 00:36:16,640
Speaker 4: with my son, William Kelly Junior.

656
00:36:16,880 --> 00:36:18,399
Speaker 2: And in the first part of the show, we talked

657
00:36:18,440 --> 00:36:21,840
Speaker 2: about how AI is transforming long term care from smart

658
00:36:21,840 --> 00:36:23,400
Speaker 2: homes to predictive health monitoring.

659
00:36:23,640 --> 00:36:27,480
Speaker 4: But technology is only part of the story. Now we

660
00:36:27,560 --> 00:36:32,719
Speaker 4: want to talk about telehealth, medicare changes and what financial

661
00:36:32,840 --> 00:36:37,160
Speaker 4: readiness really looks like in this evolving health care environment.

662
00:36:37,680 --> 00:36:41,200
Speaker 2: Telehealth expanded dramatically during the pandemic it did.

663
00:36:41,360 --> 00:36:45,640
Speaker 4: And many retirees may rely on virtual visits for primary

664
00:36:45,719 --> 00:36:49,880
Speaker 4: care specialists and follow ups after hospital stays.

665
00:36:50,200 --> 00:36:53,160
Speaker 2: It's convenient, it can reduce transportation needs and in some

666
00:36:53,239 --> 00:36:55,360
Speaker 2: cases even reduce emergency visits.

667
00:36:55,600 --> 00:37:01,640
Speaker 4: But Medicare telehealth policies continue to evolve. Retirees can't assume

668
00:37:01,760 --> 00:37:04,560
Speaker 4: coverage will always remain the same.

669
00:37:04,760 --> 00:37:07,160
Speaker 2: And beyond coverage, there's access.

670
00:37:07,200 --> 00:37:13,000
Speaker 4: Broadband devices, updated technology. Those require investment.

671
00:37:13,480 --> 00:37:16,279
Speaker 2: Convenience still requires resources exactly.

672
00:37:16,480 --> 00:37:22,000
Speaker 4: Financial preparation helps ensure that if policy shift, families can

673
00:37:22,080 --> 00:37:27,000
Speaker 4: still maintain access to care, and AI is powering many

674
00:37:27,040 --> 00:37:27,399
Speaker 4: of those.

675
00:37:27,480 --> 00:37:31,879
Speaker 2: Digital visits, wearables, nutrac blood pressure, oxygen levels, and heart rate.

676
00:37:32,120 --> 00:37:36,120
Speaker 4: Smart medication systems can help reduce costly errors.

677
00:37:36,360 --> 00:37:40,840
Speaker 2: Predictive analytics may flag issues before they become hospitalizations.

678
00:37:40,040 --> 00:37:44,360
Speaker 4: And preventing even one major health event can help preserve

679
00:37:44,480 --> 00:37:45,719
Speaker 4: retirement savings.

680
00:37:46,040 --> 00:37:48,959
Speaker 2: Healthy habits and healthy finances really do go hand at hand.

681
00:37:49,239 --> 00:37:55,360
Speaker 4: That's why we emphasize protecting retirement income from unexpected healthcare shocks.

682
00:37:55,680 --> 00:37:57,640
Speaker 4: But AI is not flawless.

683
00:37:57,840 --> 00:38:00,520
Speaker 2: There have already been discussions about whether AI too always

684
00:38:00,560 --> 00:38:03,160
Speaker 2: provide complete Medicare or long term care guidance.

685
00:38:03,480 --> 00:38:07,560
Speaker 4: AI can be helpful, but it should supplement, not replace,

686
00:38:07,960 --> 00:38:09,920
Speaker 4: professional financial advice.

687
00:38:10,320 --> 00:38:14,000
Speaker 2: Medicare rules and long term care funding decisions are complex, and.

688
00:38:14,120 --> 00:38:19,960
Speaker 4: Privacy matters when financial and healthcare data are involved. Cybersecurity

689
00:38:20,360 --> 00:38:21,120
Speaker 4: is critical.

690
00:38:21,520 --> 00:38:24,120
Speaker 2: Use AI as a tool not as your financial advisor.

691
00:38:24,320 --> 00:38:30,040
Speaker 4: Informed coordinated decision making is essential when retirement income is

692
00:38:30,120 --> 00:38:34,080
Speaker 4: at stake. Facility care is evolving as well.

693
00:38:34,360 --> 00:38:39,280
Speaker 2: Assisted living communities and nursing homes are integrating AI into scheduling, safety, monitoring,

694
00:38:39,520 --> 00:38:40,680
Speaker 2: and compliance systems.

695
00:38:40,880 --> 00:38:44,000
Speaker 4: Technology Enhanced memory care units are.

696
00:38:43,920 --> 00:38:48,720
Speaker 2: Expanding, but with more advanced technology often comes higher operational costs.

697
00:38:48,320 --> 00:38:51,520
Speaker 4: Which may translate into higher monthly fees.

698
00:38:51,920 --> 00:38:55,320
Speaker 2: As care becomes more advanced, it may require additional planning

699
00:38:55,400 --> 00:38:56,120
Speaker 2: and preparation.

700
00:38:56,520 --> 00:39:03,400
Speaker 4: Some families explore long term care insurance. Others consider hybrid strategies,

701
00:39:04,000 --> 00:39:05,840
Speaker 4: some plan to self fund.

702
00:39:06,080 --> 00:39:07,800
Speaker 2: Each option carries trade offs.

703
00:39:07,960 --> 00:39:12,040
Speaker 4: That's why we help families think through which funding approach

704
00:39:12,200 --> 00:39:16,080
Speaker 4: makes sense for their retirement picture. So how do families

705
00:39:16,200 --> 00:39:17,279
Speaker 4: prepare wisely?

706
00:39:17,600 --> 00:39:20,880
Speaker 2: Home monitoring makes don independence, but it doesn't always eliminate

707
00:39:20,920 --> 00:39:21,560
Speaker 2: the need for care.

708
00:39:21,640 --> 00:39:26,960
Speaker 4: Leader assisted living, adult daycare, and nursing home care remain

709
00:39:27,200 --> 00:39:29,839
Speaker 4: common realities for many families.

710
00:39:30,040 --> 00:39:33,920
Speaker 2: Understanding activities of daily living and cognitive changes helps families

711
00:39:33,920 --> 00:39:35,960
Speaker 2: anticipate when care may be needed.

712
00:39:36,200 --> 00:39:38,480
Speaker 4: Preparation creates options.

713
00:39:38,840 --> 00:39:43,319
Speaker 13: Technology may by time, but preparation by security, and that's

714
00:39:43,360 --> 00:39:47,080
Speaker 13: where guidance makes the difference. AI is changing how care

715
00:39:47,120 --> 00:39:51,840
Speaker 13: is delivered, but it is not eliminating cost. Medicare limitations remain,

716
00:39:52,080 --> 00:39:56,120
Speaker 13: and families still need a thoughtful strategy. At Kelly Financial,

717
00:39:56,239 --> 00:39:59,200
Speaker 13: our advisors help families think through long term care planning

718
00:39:59,400 --> 00:40:00,640
Speaker 13: before hits.

719
00:40:00,800 --> 00:40:05,480
Speaker 4: We offer a complimentary investor guide titled are you looking

720
00:40:05,560 --> 00:40:09,120
Speaker 4: forward to retirement? But what if you need long term care?

721
00:40:09,480 --> 00:40:13,400
Speaker 2: It explains costs, coverage, realities, and planning options in clear,

722
00:40:13,520 --> 00:40:15,360
Speaker 2: straightforward language.

723
00:40:14,920 --> 00:40:19,920
Speaker 4: Because strong planning aims to position technology as a support

724
00:40:20,000 --> 00:40:23,120
Speaker 4: to your life, not a strain on your savings.

725
00:40:23,400 --> 00:40:25,880
Speaker 2: If you'd like clarity about long term care in today's

726
00:40:25,920 --> 00:40:29,400
Speaker 2: evolving landscape, visit Kelly Financial dot org or call our

727
00:40:29,440 --> 00:40:32,480
Speaker 2: office to request your complimentary guide. Thank you for spending

728
00:40:32,480 --> 00:40:34,879
Speaker 2: part of your weekend with us. We truly appreciate it

729
00:40:35,000 --> 00:40:36,520
Speaker 2: and we'll see you next Saturday morning.

730
00:40:36,840 --> 00:40:40,880
Speaker 4: Stay tuned. We have more informative content coming your way

731
00:40:41,080 --> 00:40:47,960
Speaker 4: right here on WRKO Safe Money Strategies brought to you

732
00:40:48,040 --> 00:40:49,919
Speaker 4: by Kelly Financial Services.

733
00:40:50,080 --> 00:40:53,880
Speaker 3: Call eight eight eight eight hundred eighteen eighty one or

734
00:40:53,960 --> 00:40:55,920
Speaker 3: visit Kelly Financial dot org.

735
00:40:56,680 --> 00:40:59,479
Speaker 6: Welcome back, I'm like you, said, Chief operating officer here

736
00:40:59,520 --> 00:41:03,279
Speaker 6: with Greg Workman, investment advisor before the break, we talked

737
00:41:03,280 --> 00:41:06,560
Speaker 6: about what we call the retirement tax trap. How required

738
00:41:06,600 --> 00:41:12,359
Speaker 6: minimum distributions, social Security taxation, Medicare, premium adjustments, and even

739
00:41:12,400 --> 00:41:15,960
Speaker 6: the widow's penalty can quietly increase taxes later in retirement.

740
00:41:16,239 --> 00:41:19,880
Speaker 6: Now let's talk about solutions, because this isn't about scaring anyone.

741
00:41:19,960 --> 00:41:21,600
Speaker 6: It's about planning exactly.

742
00:41:22,160 --> 00:41:25,200
Speaker 7: The good news is retirees often have more control than

743
00:41:25,200 --> 00:41:30,759
Speaker 7: they realize, especially in those early retirement years before required

744
00:41:30,800 --> 00:41:33,560
Speaker 7: minimum distributions or rmds begin.

745
00:41:33,760 --> 00:41:37,200
Speaker 6: We mentioned earlier that the years between retirement and age

746
00:41:37,200 --> 00:41:41,239
Speaker 6: seventy three can be incredibly powerful. Why because income is

747
00:41:41,280 --> 00:41:42,840
Speaker 6: often temporarily lower.

748
00:41:42,920 --> 00:41:46,840
Speaker 7: You may not be taking Social Security yet rmds have

749
00:41:47,120 --> 00:41:47,960
Speaker 7: not started.

750
00:41:48,360 --> 00:41:49,239
Speaker 2: You control how.

751
00:41:49,200 --> 00:41:51,800
Speaker 7: Much you would draw from your accounts, and that creates

752
00:41:51,800 --> 00:41:55,880
Speaker 7: an opportunity to intentionally manage your tax bracket. Instead of

753
00:41:55,880 --> 00:41:59,920
Speaker 7: deferring taxes indefinitely, sometimes it makes sense to pay some

754
00:42:00,160 --> 00:42:01,600
Speaker 7: taxes on your.

755
00:42:01,480 --> 00:42:03,000
Speaker 2: Terms, not the irs.

756
00:42:03,200 --> 00:42:07,280
Speaker 6: Let's revisit our hypothetical couple Jim and Linda. After seeing

757
00:42:07,320 --> 00:42:10,200
Speaker 6: what their future rmds could look like, we ask what

758
00:42:10,239 --> 00:42:13,040
Speaker 6: if we smoothed this out rather than waiting until age

759
00:42:13,040 --> 00:42:16,960
Speaker 6: seventy three and being forced into larger distributions. What if

760
00:42:16,960 --> 00:42:20,160
Speaker 6: they gradually shifted some of their pre tax money into

761
00:42:20,160 --> 00:42:23,600
Speaker 6: a ROTH account during their sixties. That's called a roth conversion.

762
00:42:23,960 --> 00:42:28,239
Speaker 6: You're voluntarily moving money from a traditional IRA to a

763
00:42:28,360 --> 00:42:31,959
Speaker 6: ROTH IRA and pay the tax now at a controlled rate,

764
00:42:32,080 --> 00:42:34,520
Speaker 6: instead of later when rmds may push you higher.

765
00:42:34,600 --> 00:42:39,320
Speaker 7: And the keyword there is controlled. We're not converting everything

766
00:42:39,360 --> 00:42:43,480
Speaker 7: at once. We are strategically filling up a tax bracket,

767
00:42:43,760 --> 00:42:47,840
Speaker 7: maybe the twelve or twenty two percent bracket, without spilling

768
00:42:47,920 --> 00:42:48,799
Speaker 7: into the next one.

769
00:42:48,920 --> 00:42:50,719
Speaker 1: Think of tax brackets like buckets.

770
00:42:51,080 --> 00:42:53,960
Speaker 6: If the twelve percent bracket has room, why let it

771
00:42:54,000 --> 00:42:57,279
Speaker 6: go unused. If you know that future rmds could push

772
00:42:57,360 --> 00:42:59,920
Speaker 6: you into the twenty four percent bracket, it may make

773
00:43:00,080 --> 00:43:04,040
Speaker 6: sense to intentionally recognize income today at twelve percent or

774
00:43:04,040 --> 00:43:04,960
Speaker 6: twenty two percent.

775
00:43:05,160 --> 00:43:06,320
Speaker 1: That's bracket management.

776
00:43:06,520 --> 00:43:09,439
Speaker 6: It's not about avoiding taxes, it's about leveling them out

777
00:43:09,440 --> 00:43:09,959
Speaker 6: over time.

778
00:43:10,120 --> 00:43:14,760
Speaker 7: Social Security timing isn't just about maximizing the monthly benefit.

779
00:43:15,120 --> 00:43:19,800
Speaker 7: It also affects your tax picture. For some retirees, delaying

780
00:43:19,880 --> 00:43:24,400
Speaker 7: social Security allows them to use the early retirement years

781
00:43:24,640 --> 00:43:29,800
Speaker 7: to perform rough conversions at lower income levels. For others,

782
00:43:30,200 --> 00:43:35,960
Speaker 7: starting benefits earlier might make sense depending upon health, longevity expectations,

783
00:43:36,400 --> 00:43:38,200
Speaker 7: or spousal coordination.

784
00:43:38,400 --> 00:43:41,200
Speaker 6: The key is that social security decisions should not be

785
00:43:41,239 --> 00:43:44,960
Speaker 6: made in isolation. They should be coordinated with investment withdrawals,

786
00:43:45,160 --> 00:43:47,200
Speaker 6: pension elections, and tax strategy.

787
00:43:47,320 --> 00:43:51,680
Speaker 7: For clients who are charitably inclined, there is another powerful tool.

788
00:43:51,800 --> 00:43:58,080
Speaker 7: Once ourmds begin qualified charitable distributions after age seventy and

789
00:43:58,080 --> 00:44:02,040
Speaker 7: a half, you can direct money from your IRA straight

790
00:44:02,120 --> 00:44:06,560
Speaker 7: into a qualified charity. That distribution counts towards your R

791
00:44:06,600 --> 00:44:10,320
Speaker 7: and D, but does not increase your taxable income.

792
00:44:10,440 --> 00:44:14,799
Speaker 6: That can reduce taxable income, potentially reduce Medicaid premium searcharges,

793
00:44:15,160 --> 00:44:18,239
Speaker 6: and prevent more social security from being taxable. It's a

794
00:44:18,239 --> 00:44:21,239
Speaker 6: strategic way to give and reduce tax impact at the

795
00:44:21,239 --> 00:44:21,800
Speaker 6: same time.

796
00:44:22,000 --> 00:44:25,600
Speaker 7: One of the most overlooked principles in retirement planning is

797
00:44:25,719 --> 00:44:32,200
Speaker 7: tax diversification. We diversify investments like stocks, bonds, and real assets,

798
00:44:32,600 --> 00:44:38,640
Speaker 7: but we also want diversification across tax buckets pre tax accounts,

799
00:44:39,040 --> 00:44:43,560
Speaker 7: ROTH accounts, and taxable brokerage accounts. If all your money

800
00:44:43,600 --> 00:44:48,080
Speaker 7: is in one tax category, you end up with limited flexibility.

801
00:44:48,480 --> 00:44:52,360
Speaker 7: When you have multiple buckets, you can decide where income

802
00:44:52,440 --> 00:44:55,960
Speaker 7: comes from each and every year, helping you manage your

803
00:44:56,040 --> 00:44:58,160
Speaker 7: tax brackets more precisely.

804
00:44:58,400 --> 00:45:01,920
Speaker 6: Let's go back to our early discussion about the widow's penalty.

805
00:45:02,160 --> 00:45:05,719
Speaker 6: If Jim and Linda proactively reduce pre tax balances through

806
00:45:05,800 --> 00:45:09,160
Speaker 6: gradual Wroth conversions, they may not only reduce their joint

807
00:45:09,200 --> 00:45:12,240
Speaker 6: lifetime tax bill, they may also reduce the tax burden

808
00:45:12,360 --> 00:45:15,840
Speaker 6: on the surviving spouse. That's planning beyond today, that's planning

809
00:45:15,880 --> 00:45:17,520
Speaker 6: for the full arc of retirement.

810
00:45:17,760 --> 00:45:18,000
Speaker 2: Mike.

811
00:45:18,320 --> 00:45:21,520
Speaker 7: One of the biggest mistakes we see is when retirement

812
00:45:21,560 --> 00:45:26,080
Speaker 7: decisions are made in silos. An investment advisor focuses only

813
00:45:26,120 --> 00:45:30,120
Speaker 7: on returns, a tax prepared looks backward at last year.

814
00:45:30,520 --> 00:45:35,120
Speaker 7: A social security decision is made independently, but retirement income

815
00:45:35,160 --> 00:45:37,840
Speaker 7: planning requires coordination.

816
00:45:37,520 --> 00:45:41,279
Speaker 6: Exactly because every decision affects the other. Withdraw too much,

817
00:45:41,480 --> 00:45:45,759
Speaker 6: taxes increase, withdraw too little. RMD's balloon later, stop social

818
00:45:45,800 --> 00:45:50,440
Speaker 6: security too early or too late without tax awareness unintended consequences.

819
00:45:50,800 --> 00:45:53,320
Speaker 6: This is why we emphasize written, proactive planning.

820
00:45:53,520 --> 00:45:58,959
Speaker 7: Remember, taxes are not necessarily higher because rates changed. They're

821
00:45:58,960 --> 00:46:02,440
Speaker 7: often higher because distributions weren't mapped out ahead of time.

822
00:46:02,800 --> 00:46:05,840
Speaker 7: Retirement is not the end of planning. In many ways,

823
00:46:06,200 --> 00:46:10,520
Speaker 7: it's when planning matters most, and the goal isn't perfection,

824
00:46:10,840 --> 00:46:13,560
Speaker 7: its awareness and intentional decisions.

825
00:46:13,719 --> 00:46:17,799
Speaker 6: Over the last four weeks, we've walked through understanding retirement expenses,

826
00:46:18,120 --> 00:46:22,520
Speaker 6: mapping out income sources, why withdraw order matters, and now

827
00:46:22,600 --> 00:46:25,920
Speaker 6: how to potentially control your tax exposure. All of these

828
00:46:25,920 --> 00:46:30,200
Speaker 6: pieces work together. Income planning without tax planning is incomplete.

829
00:46:30,320 --> 00:46:33,360
Speaker 6: In tax planning without an income strategy is reactive.

830
00:46:33,560 --> 00:46:36,200
Speaker 7: If you would like to see how these strategies might

831
00:46:36,280 --> 00:46:39,799
Speaker 7: apply to your situation, we'd love to help out. Our

832
00:46:39,880 --> 00:46:43,600
Speaker 7: Safe Money Strategies workbook walks you through the process of

833
00:46:43,640 --> 00:46:47,440
Speaker 7: building a coordinated retirement, income and tax strategy.

834
00:46:47,680 --> 00:46:50,360
Speaker 2: It's complementary and there's no obligation.

835
00:46:50,520 --> 00:46:53,200
Speaker 6: Give our office a call, request your copy, and we'll

836
00:46:53,239 --> 00:46:55,400
Speaker 6: walk you through the steps to determine whether you are

837
00:46:55,480 --> 00:46:58,840
Speaker 6: positioned efficiently or whether there may be opportunities to improve

838
00:46:58,840 --> 00:46:59,800
Speaker 6: your long term outcome.

839
00:47:00,000 --> 00:47:02,160
Speaker 7: Because at the end of the day, retirement isn't just

840
00:47:02,200 --> 00:47:04,640
Speaker 7: about how much you've saved, it's about how much you

841
00:47:04,760 --> 00:47:05,880
Speaker 7: keep with that.

842
00:47:06,200 --> 00:47:07,480
Speaker 2: I'm Greg Workman.

843
00:47:07,239 --> 00:47:07,680
Speaker 1: And I'm Mike.

844
00:47:07,760 --> 00:47:15,200
Speaker 2: You said, we'll see you next week. I'm William Kelly Junior.

845
00:47:15,440 --> 00:47:17,560
Speaker 2: As we start a new year, many families are thinking

846
00:47:17,600 --> 00:47:20,680
Speaker 2: about fresh starts, not just financially, but how young people

847
00:47:20,680 --> 00:47:23,960
Speaker 2: prepare for what comes next. I've had the unique experience

848
00:47:24,000 --> 00:47:27,200
Speaker 2: of growing up around real conversations with our clients, families,

849
00:47:27,360 --> 00:47:31,920
Speaker 2: parents and grandparents about money, responsibility, and long term thinking.

850
00:47:32,160 --> 00:47:35,080
Speaker 2: Not theory, real life, and it's important to remember that

851
00:47:35,160 --> 00:47:38,480
Speaker 2: all investing involves risk, including the potential loss of principle,

852
00:47:38,800 --> 00:47:42,520
Speaker 2: which is why habits, education, and perspective matter so much

853
00:47:42,560 --> 00:47:45,040
Speaker 2: from the start. That's why I wrote Only the Good

854
00:47:45,040 --> 00:47:48,280
Speaker 2: Investor on as a straightforward guide to the basics of money,

855
00:47:48,360 --> 00:47:52,000
Speaker 2: habits and decisions that matter over time, whether you're a client,

856
00:47:52,080 --> 00:47:54,920
Speaker 2: a parent or grandparent, or someone just starting out. This

857
00:47:54,960 --> 00:47:58,440
Speaker 2: is meant to be practical, clear, and encouraging. For offering

858
00:47:58,480 --> 00:48:02,560
Speaker 2: complimentary signed copies to our WRK listeners and clients. It's

859
00:48:02,600 --> 00:48:06,279
Speaker 2: also available on Amazon and softcover or Kindle. Call eight

860
00:48:06,320 --> 00:48:08,880
Speaker 2: at eight eight hundred and one or email Kelly at

861
00:48:08,920 --> 00:48:12,480
Speaker 2: Kelly Financial dot org. Good Habits Starter Early Andy last

862
00:48:12,480 --> 00:48:13,640
Speaker 2: a lifetime.

863
00:48:14,400 --> 00:48:17,800
Speaker 5: Joining us now as she always does.

864
00:48:17,920 --> 00:48:18,800
Speaker 2: At this time.

865
00:48:19,280 --> 00:48:24,000
Speaker 5: She is the co founder, CEO, and president of Kelly

866
00:48:24,120 --> 00:48:28,960
Speaker 5: Financial services, and yes, that is her wonderful.

867
00:48:28,480 --> 00:48:33,880
Speaker 2: Name, Kelly, Kelly, Kelly, how.

868
00:48:33,600 --> 00:48:36,280
Speaker 4: Are you good morning, Jeff?

869
00:48:36,360 --> 00:48:37,160
Speaker 11: I am good.

870
00:48:37,680 --> 00:48:43,080
Speaker 4: Retirement income today is layered traditional iras, four AH one

871
00:48:43,160 --> 00:48:48,440
Speaker 4: k's wrath accounts, brokerage accounts, and each one is taxed

872
00:48:48,520 --> 00:48:52,480
Speaker 4: a little differently. What many people don't realize is that

873
00:48:52,800 --> 00:48:57,399
Speaker 4: even a single withdrawal can influence your tax bracket. Your

874
00:48:57,480 --> 00:49:02,040
Speaker 4: Medicare premiums are how other income is treated, and when

875
00:49:02,120 --> 00:49:07,239
Speaker 4: those moving parts are not coordinated, that's when hesitation sets in.

876
00:49:07,640 --> 00:49:11,160
Speaker 4: Not because people don't have resources, but because they don't

877
00:49:11,200 --> 00:49:16,799
Speaker 4: want unexpected tax surprises. Confidence in retirement often comes from

878
00:49:16,960 --> 00:49:21,120
Speaker 4: understanding how those income sources are designed to work together

879
00:49:21,560 --> 00:49:26,080
Speaker 4: under today's rules. Although we are not tax advisors and

880
00:49:26,120 --> 00:49:30,239
Speaker 4: we do recommend speaking with a tax professional, a thoughtful

881
00:49:30,360 --> 00:49:34,920
Speaker 4: distribution strategy can help you stay more intentional about what

882
00:49:35,120 --> 00:49:38,960
Speaker 4: you keep, not just what you withdraw. If you'd like

883
00:49:39,080 --> 00:49:42,719
Speaker 4: to take a closer look at how your income is structured,

884
00:49:42,960 --> 00:49:45,640
Speaker 4: give us a call or send us an email at

885
00:49:45,840 --> 00:49:50,640
Speaker 4: Kelly at Kellyfinancial dot org. Jeff, have a wonderful weekend,

886
00:49:50,760 --> 00:49:53,120
Speaker 4: My best of grace, SENDI kiddo's.

887
00:49:53,120 --> 00:49:55,920
Speaker 5: Thank you Kelly, all the best to you and everyone

888
00:49:56,000 --> 00:49:58,680
Speaker 5: at Kelly Financial. If you want to get in touch

889
00:49:58,719 --> 00:50:01,319
Speaker 5: with them, the number to call well eight eighty eight

890
00:50:01,440 --> 00:50:05,680
Speaker 5: hundred eighteen eighty one eight eighty eight eight hundred eighteen

891
00:50:05,719 --> 00:50:10,120
Speaker 5: eighty one, or you can actually email Kelly yourself personally

892
00:50:10,800 --> 00:50:17,640
Speaker 5: Kelly Kellyfinancial dot org. That's Kelly Kelly Financial dot org.

893
00:50:23,600 --> 00:50:33,560
Speaker 3: Safe Money Strategies A eight eight hundred one eight eight one.

894
00:50:34,480 --> 00:50:37,719
Speaker 4: This next reflection from Bill is one of those that

895
00:50:37,880 --> 00:50:41,480
Speaker 4: makes you pause for a moment. He talks about this

896
00:50:41,680 --> 00:50:44,680
Speaker 4: simple amazement of being in the middle of your own

897
00:50:44,719 --> 00:50:50,800
Speaker 4: life and how real change begins from recognizing a need

898
00:50:51,280 --> 00:50:54,520
Speaker 4: to building a plan that helps you feel more calm

899
00:50:54,719 --> 00:50:58,200
Speaker 4: in uncertain times. Here's Bill Kelly.

900
00:51:01,440 --> 00:51:04,840
Speaker 8: I wonder what the beauty is in just being amazed

901
00:51:05,280 --> 00:51:08,160
Speaker 8: from your entire time you're doing something that you're actually

902
00:51:08,160 --> 00:51:10,800
Speaker 8: doing it. I mean, that's the way I feel about

903
00:51:10,840 --> 00:51:13,719
Speaker 8: doing this show. The way it plays out in my

904
00:51:13,840 --> 00:51:17,200
Speaker 8: life is amazing. The people I meet because of this show,

905
00:51:17,280 --> 00:51:19,759
Speaker 8: the things that happen in my life and the things

906
00:51:19,840 --> 00:51:23,280
Speaker 8: I'm able to do, and the acceptance of the audience.

907
00:51:23,440 --> 00:51:27,680
Speaker 8: It's incredible. People encourage me to be different, which doesn't

908
00:51:27,680 --> 00:51:30,520
Speaker 8: take much as you know, ladies and gentlemen. But people

909
00:51:30,600 --> 00:51:32,720
Speaker 8: encourage me to be different and to speak my mind,

910
00:51:33,840 --> 00:51:36,960
Speaker 8: and people love the fact that we're able to speak

911
00:51:37,040 --> 00:51:40,960
Speaker 8: down to earth about different decisions that you need to

912
00:51:40,960 --> 00:51:43,680
Speaker 8: make in your life, and we hope that that rings

913
00:51:43,719 --> 00:51:47,040
Speaker 8: true to you. You could be driving in your automobile

914
00:51:47,120 --> 00:51:50,920
Speaker 8: right now, looking out the windshield, noticing what's on the

915
00:51:51,040 --> 00:51:54,160
Speaker 8: road in front of you, behind you, looking in the

916
00:51:54,160 --> 00:51:56,920
Speaker 8: rear of your mirror. You're listening to these words. You

917
00:51:56,960 --> 00:52:01,319
Speaker 8: could be cleaning your garage. You could be getting an

918
00:52:01,360 --> 00:52:05,439
Speaker 8: addict ready to be turned into a bedroom. You could

919
00:52:05,440 --> 00:52:09,160
Speaker 8: be getting your garden ready, fixing up an old automobile,

920
00:52:09,680 --> 00:52:13,399
Speaker 8: getting an old Jaguar restoring it. You could be doing

921
00:52:13,440 --> 00:52:16,960
Speaker 8: these things while you're listening, and there are sounds and

922
00:52:17,040 --> 00:52:20,279
Speaker 8: smells and sights around you. But you decide, I'm going

923
00:52:20,360 --> 00:52:23,479
Speaker 8: to put this radio program on. I'm going to listen

924
00:52:23,560 --> 00:52:27,280
Speaker 8: to what this man says, and I'm going to see

925
00:52:27,400 --> 00:52:30,560
Speaker 8: if there's anything that I have in common with what

926
00:52:30,719 --> 00:52:34,800
Speaker 8: these thoughts are in the mind of Bill Kelly. So

927
00:52:34,880 --> 00:52:38,719
Speaker 8: that's what people think when they tune in. Maybe we'll

928
00:52:38,840 --> 00:52:41,600
Speaker 8: show you a little bit about retirement. So as you're

929
00:52:41,640 --> 00:52:44,320
Speaker 8: listening to the show. As you're thinking about these words,

930
00:52:44,760 --> 00:52:48,040
Speaker 8: you might say, what's the next step. What is the

931
00:52:48,040 --> 00:52:52,680
Speaker 8: process of changing things? How difficult might it be? Is

932
00:52:52,719 --> 00:52:55,480
Speaker 8: there a different way? And how will it benefit me

933
00:52:56,600 --> 00:53:00,200
Speaker 8: and with me? That's the new direction that's called change.

934
00:53:00,440 --> 00:53:03,600
Speaker 8: The first part of change actually is not knowing that

935
00:53:03,680 --> 00:53:07,360
Speaker 8: you need to make a change, and the second step

936
00:53:07,600 --> 00:53:11,440
Speaker 8: is realization that you might need to make a change.

937
00:53:11,560 --> 00:53:14,920
Speaker 8: And the third part might be some sort of acting

938
00:53:15,640 --> 00:53:20,200
Speaker 8: toward making that change. And when you start to take action,

939
00:53:21,200 --> 00:53:25,080
Speaker 8: you're already well on your way to making a positive change.

940
00:53:25,480 --> 00:53:29,600
Speaker 8: So you've contemplated it, you've decided to then you've acted.

941
00:53:30,480 --> 00:53:35,480
Speaker 8: Then the fourth part of change is actually making the change,

942
00:53:35,680 --> 00:53:40,280
Speaker 8: doing something differently with the probability that it will increase

943
00:53:40,960 --> 00:53:45,040
Speaker 8: your success at whatever you're doing. So there you have it.

944
00:53:45,600 --> 00:53:49,120
Speaker 8: And then finally there is the review of what has

945
00:53:49,280 --> 00:53:53,359
Speaker 8: changed and how it has hopefully improved what you want

946
00:53:53,400 --> 00:53:57,840
Speaker 8: to do. That's the process of change, and it starts

947
00:53:57,880 --> 00:54:00,920
Speaker 8: with hearing some words on the radio. We're able to

948
00:54:00,960 --> 00:54:03,600
Speaker 8: tell you some things about life, but I think we're

949
00:54:03,640 --> 00:54:05,920
Speaker 8: also able to let you know that there are different

950
00:54:05,960 --> 00:54:09,960
Speaker 8: things that can happen. And as you listen, it might

951
00:54:10,239 --> 00:54:14,160
Speaker 8: create some sense in you that there could be another way,

952
00:54:14,360 --> 00:54:18,000
Speaker 8: and just knowing that generally helps. If I know for

953
00:54:18,120 --> 00:54:20,920
Speaker 8: sure there's a way to do something, then that gives

954
00:54:20,960 --> 00:54:24,600
Speaker 8: me the confidence to know that well it can be done.

955
00:54:25,040 --> 00:54:27,839
Speaker 8: Hitting sixty home runs was something that was unheard of.

956
00:54:28,880 --> 00:54:31,000
Speaker 8: Babe Ruth used to hit the same amount of home

957
00:54:31,040 --> 00:54:35,840
Speaker 8: runs as entire baseball teams. It just wasn't something that

958
00:54:35,960 --> 00:54:39,879
Speaker 8: was thought about. And later on, when his records were

959
00:54:39,920 --> 00:54:43,640
Speaker 8: eclipsed by Roger Maris and Hank Aaron, then it became

960
00:54:43,760 --> 00:54:48,480
Speaker 8: routine to have forty to fifty and sixty home run years.

961
00:54:48,960 --> 00:54:52,239
Speaker 8: It was a big deal when some baseball player hit

962
00:54:52,280 --> 00:54:54,680
Speaker 8: forty home runs and stole forty bases, and they were

963
00:54:54,719 --> 00:54:57,799
Speaker 8: talking to Mickey Mantle about that when someone did it,

964
00:54:58,760 --> 00:55:00,600
Speaker 8: and Mantel said, if I I knew it was going

965
00:55:00,680 --> 00:55:02,080
Speaker 8: to be a big deal, I would have done it

966
00:55:02,120 --> 00:55:05,760
Speaker 8: every other year. So having a mark to hit is great.

967
00:55:06,239 --> 00:55:09,120
Speaker 8: Highs and lows of the market, though it's very difficult

968
00:55:09,160 --> 00:55:12,240
Speaker 8: to live with those when we see the constant change.

969
00:55:12,840 --> 00:55:15,920
Speaker 8: It's just so volatile right now. So if you have

970
00:55:15,960 --> 00:55:19,160
Speaker 8: a plan that excludes a lot of your money from

971
00:55:19,160 --> 00:55:23,080
Speaker 8: that volatility, that high beta and that uncertainty out there,

972
00:55:23,280 --> 00:55:27,319
Speaker 8: you'll definitely feel better about what you're doing. Some people, though,

973
00:55:27,440 --> 00:55:31,200
Speaker 8: they want that risk. That's probably not something that we're

974
00:55:31,239 --> 00:55:35,120
Speaker 8: specialized in because, frankly, how do we know what banks

975
00:55:35,200 --> 00:55:38,160
Speaker 8: right now are sound and not sound? The only thing

976
00:55:38,200 --> 00:55:40,719
Speaker 8: we can do is react to the news, So we

977
00:55:40,760 --> 00:55:42,960
Speaker 8: don't know these things ahead of time. But if we

978
00:55:43,000 --> 00:55:46,080
Speaker 8: make a plan for the worst and it meets our goals,

979
00:55:46,120 --> 00:55:49,440
Speaker 8: then when we get the best, we're going to have

980
00:55:49,560 --> 00:55:53,120
Speaker 8: double of what we need and be very happy about it.

981
00:55:53,560 --> 00:55:56,440
Speaker 8: And we'll find out what's important to us and we

982
00:55:56,560 --> 00:56:00,000
Speaker 8: focus upon that and then we live a little bit

983
00:56:00,120 --> 00:56:04,560
Speaker 8: more calm life, especially with the investment environment as it

984
00:56:04,600 --> 00:56:05,160
Speaker 8: is right now.

985
00:56:07,640 --> 00:56:15,440
Speaker 2: Juli know this roll never and this roll never.

986
00:56:16,120 --> 00:56:24,040
Speaker 3: And we're called Kelly Financial Services eight eight eight eight

987
00:56:24,160 --> 00:56:25,879
Speaker 3: hundred eighteen eighty one.

988
00:56:26,160 --> 00:56:30,200
Speaker 4: I'm Kelly Kelly from Kelly Financial. Whether you're in your sixties,

989
00:56:30,280 --> 00:56:34,440
Speaker 4: seventies or eighties, financial advice is important when it comes

990
00:56:34,440 --> 00:56:37,520
Speaker 4: to preserving your nest egg. We have a free investor

991
00:56:37,560 --> 00:56:41,320
Speaker 4: guide called designing your Fiscal House to Weather the Elements,

992
00:56:41,520 --> 00:56:45,319
Speaker 4: which highlights the steps needed to build a balance portfolio.

993
00:56:45,600 --> 00:56:48,480
Speaker 4: For the guide, call eight eight eight eight hundred eighteen

994
00:56:48,560 --> 00:56:53,120
Speaker 4: eighty one or email Kelly at Kellyfinancial dot org. We're

995
00:56:53,200 --> 00:56:55,640
Speaker 4: Kelly Financial. Come retire with.

996
00:56:55,560 --> 00:57:00,560
Speaker 3: Us Safe money strategies with William Kelly and Kelly Kelly.

997
00:57:00,920 --> 00:57:03,120
Speaker 3: Go to Kelly Financial dot org