Kelly Financial: Saturday, January 4, 2025

Episode Transcript

Speaker 1 (00:12):
This coming to us.

Speaker 2 (00:20):
Good morning, dear Boston. I'm John Goodrus and Kelly Financial.
Safe Money Strategies indeed carries on every Saturday morning right
here on WRKO six' eighty on the AM dial and
online from just about anywhere. Well, January sixth is coming
right up. And I'm not alluding to January sixth of

(00:41):
twenty twenty one, but January sixth of twenty twenty five.
And that's a very crucial day because that is the
day that President Donald J. Trump will have the election
results certified. Maybe we have some Democrats who are already
telegram that some monkey wrenches are going to be thrown

(01:03):
in that direction. We'll see in a couple of days.
But that's the very nature of a presidential election, particularly
this one, and that means volatility could be a factor.
And that's what today's show is going to be about,
in large part, is what to do with an expected
volatile situation, or at least a situation that has different

(01:26):
moving parts than we're used to. So stay tuned if
that's what's concerning you, because I'm telling you it's concerning me.
We will be right back.

Speaker 3 (01:39):
Some Safe Money Strategies with John Budris and Kelly Kelly
called Kelly Financial on eight eight eight hundred eighteen eighty one.
We'll go to Kelly Financial dot org.

Speaker 4 (01:52):
I'm Kelly Kelly from Kelly Financial.

Speaker 5 (01:54):
Election cycles can stir up strong emotions, prompting you to
make financial decisions that may not be the right ones.
Short term events like elections or economic shifts matter less
when you're at the accumulation stage in your retirement planning journey,
but if you're either in retirement or close to it,
you may not have the time or income to recover

(02:15):
from market fluctuations. The advisors at Kelly Financial can help
balance your portfolio so it aligns with your risk tolerance
and retirement timeline. We also have a free investor guide
called twenty twenty four Election Results What's Next for your Retirement,
offering five post election considerations to help you navigate the future.

(02:37):
For the guide, or for a free consultation with a
Kelly advisor, call eight eight eight eight hundred eighteen eighty
one or email Kelly at Kellyfinancial dot org.

Speaker 4 (02:47):
Where Kelly Financial. Come retire with.

Speaker 3 (02:50):
Us Safe money Strategies Call eight eight eight eight hundred
eighteen eighty one or visit Kellyfinancial dot org.

Speaker 6 (03:01):
Come retire with us.

Speaker 4 (03:06):
Good morning, dear friends and dear listeners.

Speaker 5 (03:08):
I'm Kelly Kelly, and welcome to our show on this
fine Saturday morning. I'm here with my very handsome son,
William Kelly Junior. Good morning William, and happy new year.

Speaker 6 (03:21):
Happy new year. Twenty twenty five is here.

Speaker 4 (03:24):
I know, it's exciting.

Speaker 7 (03:26):
I am just baffled how fast this year went. It
went by unbelievably fast.

Speaker 4 (03:32):
I know, at an exciting rate.

Speaker 6 (03:33):
And it has been an exciting year.

Speaker 7 (03:36):
And so much good has come out of this year,
so much growth, so much improvement.

Speaker 6 (03:40):
Twenty twenty four was a successful year. Yes, twenty twenty
five is looking pretty bright in my opinion.

Speaker 7 (03:46):
So we have plenty of plans for twenty twenty five,
and that twenty twenty four was just the full package.
I mean, I found love the company. It did extremely well. Murray,
Madeline has been doing really well. I mean, You've been
doing really well. Our lives have just been so much
more exciting. We travel to Italy and I've been going

(04:08):
up to Maine, and then now that Hannah is back home,
we've been spending more time at home and doing fun
things and today we're actually going to go to the
y and go swimming.

Speaker 5 (04:18):
And for our listeners, if you don't know who Hannah is,
is William's new girl friend.

Speaker 7 (04:23):
We've been dating for half a year now, I know,
six months. Wow, we haven't been keeping track or anything
like that. But then we were curious for a second
and we're like, how long have we been really dating for?

Speaker 6 (04:34):
And we did the.

Speaker 7 (04:35):
Math real quick and figured out we've been dating for
half a year. And one of her neighbors, she's a
very close neighborhood, is just open door policy.

Speaker 6 (04:43):
The neighbors are like family.

Speaker 7 (04:45):
And one of the neighbors said, I felt like you've
been here for years, and that's a compliment it is you.

Speaker 4 (04:51):
Have that type of personality. Will yea, Well, thank you, mom.

Speaker 6 (04:53):
I appreciate that.

Speaker 7 (04:54):
But on a serious note, she's really been a highlight
of my year and hopefully for many more years to come.
And she has added so much to I think the
whole family as well, not just my life, and I
hope I've added to her life as well. And this
year has just been filled with so much fun and
I feel like us as a family, we've been just

(05:15):
trying to do things and not afraid to explore. And
it's just been so successful for our development and growth.

Speaker 4 (05:22):
And the presidency and the.

Speaker 7 (05:26):
Now that that's gone, I think election night definitely determined
a lot of our happiness. And for those who didn't
get their way, I'm sorry, but I hope that if
you don't like Trump, I hope that he will prove
something to you within the next four years that he's
worth it, and that he's learned from his first term
and that this term he's going to do his job
and get out permanently, because I think all he's there

(05:48):
to do is fix the business, get it running, get
the machine greased up again, and get it set up
for years to come. Joe Biden was like an incoherent
Jimmy Carter's rest in peace. Was a great man. He
was a humanitarian, not a great president. He won the
Nobel Peace Prize because of his humanitarian actions. After his presidency,

(06:09):
he was a Nobel Peace Prize winner. And he actually
was the person who created a lot of the voting
regulations and laws that we have today to make sure
that voting is fair and legal, like requirement of ID
and like you being a US citizen, being a mandate
in order for your vote to be valid. Part of
his organization that he formed after his presidency, he was

(06:30):
a major part in making sure voting was legal and fair,
and I think that's very honorable. I understand he lived
a very long and full life. And Jimmy Carter, he
broke his hip. He fell on his face, and this
is in his nineties, and he still would show.

Speaker 6 (06:45):
Up next day working on the farm. Sounds just like Poppy.

Speaker 7 (06:49):
Some great people were poor presidents, like Herbert Hoover. Herbert
Hoover was a huge philanthropist, just like that. He was
very wealthy, came from low means, ragged to riches store,
and he gave so much to people who were hungry,
people who were in need. People loved him. That's why
he won because he was such a good person. But
then when he came around, he didn't do too great

(07:10):
in his presidency, and so he's regarded as a bad president.
I know, Jimmy Carter just passed away, and I don't
need to speak bad about him, but I think as
a human being, and I think his interests were for
America and were the interests of the American people when
he was president. So I think that's the most important thing.
Whether it counts for a lot, it counts for a lot.

Speaker 5 (07:31):
I appreciate you bringing these facts out because you would
always look on the bright side.

Speaker 4 (07:36):
I love that about you.

Speaker 6 (07:37):
Well, thank you. I mean a man like ye. He's
very charismatic.

Speaker 7 (07:40):
He can't help but like him, kind of like Bill Clinton,
but Bill Clinton was kind of in verse.

Speaker 6 (07:44):
Believe it or not.

Speaker 7 (07:45):
Bill Clinton did do some good things for the economy,
but as a human being, Bill Clinton wasn't the greatest
of people. But anyways, this is about Carter. You know, agree,
because he just passed away. He was the longest living
former president in the United States history, and funny enough,
Ronald Reagan was the oldest president to enter office in history,
second to Joe Biden, so I think Joe Biden was

(08:08):
the oldest. So mister Carter rest in peace.

Speaker 6 (08:11):
I know he's up in heaven.

Speaker 7 (08:13):
But anyways, twenty twenty five, we're in for an exciting
next four years.

Speaker 6 (08:18):
I think it's just life is only getting better from here.

Speaker 4 (08:21):
Mom, I agree, William.

Speaker 5 (08:22):
I want to wish everyone a wonderful rest of the weekend,
and do keep us on your dial. In today's installment
of Safe money Strategies, Mike do Setting Greg Workman, we'll
discuss the importance of your fiscal house. Mary, Madeline Kelly
and Greg Murray will talk about the impact of the
US debt crisis on Social Security. I will be back

(08:44):
with John Boudris and we will discuss election impacts on
your retirement and what you can do, and as always,
some wit and wisdom from Bill Kelly. At this time,
I would like to give our deepest sympathy and pray
to the Kooner family on the recent passing of Jeff's father,

(09:05):
Jack Kooner. Make God bless you all. William, thank you
for chatting with me this morning.

Speaker 4 (09:11):
I love you, Honey.

Speaker 6 (09:12):
I love you too, Mom, and as do I.

Speaker 3 (09:21):
Safe Money Strategies brought to you by Kelly Financial Services.
Call eight eight eight hundred eighteen eighty one or go
to Kelly Financial dot Org.

Speaker 8 (09:33):
Come retire with us.

Speaker 9 (09:34):
Let me tell you about Kelly Financial Services. How will
the twenty twenty four election result affect you when it
comes to.

Speaker 10 (09:41):
Your long term financial plans?

Speaker 9 (09:43):
Getting objective financial guidance could help you achieve a secure
and comfortable retirement. The advisors that Kelly Financial can take
the guesswork out of financial planning by providing the tools
and personalized advice that will help you stay on track,
reach your goals, and give you peace of mind. They
also have a free investor guide called twenty twenty four

(10:03):
Election Results, What's Next for your Retirement, offering five post
election considerations to help you navigate this changing political landscape.
For the guide, or for a free retirement consultation with
a Kelly Advisor, call eight eight eight eight hundred eighteen
eighty one eight eight eight eight hundred eighteen eighty one
or email Kelly at Kelly Financial dot org.

Speaker 10 (10:26):
That's Kelly at Kelly Financial dot org.

Speaker 3 (10:31):
Our Safe Money Strategies cool eight eight eight eight hundred
eighteen eighty one.

Speaker 1 (10:38):
Good morning, and welcome to the show. You are listening
to Safe Money Strategies and my name is Mike. You said,
just like constructing a house requires careful planning, quality materials,
and skilled craftsmanship, creating a robust retirement plan demands thoughtful
consideration in strategic action. In today's show, we will explore
how you can build a retirement that is both resilient

(10:58):
and sustainable by fallowing only a blueprint that includes a
solid foundation, sturdy walls in a reliable roof Good morning.

Speaker 11 (11:05):
My name is Greg Workman, and if you are among
the many who find the process of planning for retirement
a bit overwhelming, we're here to help. Reach out to
us for a complementary consultation at eight eight eight eight
hundred eighteen eighty one. Again that number is triple eight
eight hundred eighteen eighty one, or visit us on the

(11:26):
internet at Kelly Financial dot org to start laying the
groundwork for your secure financial future.

Speaker 1 (11:34):
Today, we're not just talking about the concept of retirement planning.
We're providing you with actionable strategies and essential insights that
can help you construct a strong and lasting financial plan.
More importantly, we want to work directly with you to
ensure your retirement dreams become a reality. We invite you
to reach out to us to share your goals and
learn how we can assist you in building the retirement

(11:56):
house of your dreams.

Speaker 11 (11:57):
Let's think about designing your financial portfolio as if you're
designing your own house, one that's built to last through
all kinds of weather. Imagine you're building a house. It's
not just about deciding where the kitchen goes or picking
out paint colors for the living room. It's also about
making sure that your house is sturdy enough to withstand

(12:19):
the elements, whether it's a sunny day or a fierce storm.
In the same way, your financial portfolio needs to be
robust enough to handle all sorts of financial climates.

Speaker 1 (12:30):
Over the years, your financial assets will face a multitude
of uncertain conditions. There will be market swings that might
make you feel uneasy, economic downturns that could challenge your patients,
fluctuating interest rates that can affect your returns, rising inflation
that eats into your purchasing power, and changes in your
health and personal life that may require financial adjustments. It's

(12:52):
a lot to think about, isn't it.

Speaker 6 (12:54):
Now.

Speaker 11 (12:54):
Think about how you would build a weather resistant home.
You'd want a solid foundation, strong walls, reliable floors, and
a roof that won't leak. Each part of the house
plays a crucial role in keeping the whole structure standing firm.
Your financial portfolio works the same way. All the parts

(13:15):
need to work together seamlessly. If one part is weak,
it can affect the entire structure. A leaky roof can
damage the walls and floors, and a shaky foundation can
make the whole house unstable. Similarly, if one aspect of
your financial portfolio isn't up to par, it can impact

(13:35):
your overall financial health.

Speaker 1 (13:37):
Now, just like with a home, you need a solid
strategy a blueprint to guide the construction of your fiscal house.
When you're planning to build a home, you don't just
dive in and start building one room at a time
hoping it all comes together. Instead, you start with a
full set of construction drawings. This blueprint outlines not only
what your house will look like, but also all the
individual components that will work together to create your home.

(14:00):
It's a comprehensive plan that helps to ensure every part
works in harmony.

Speaker 11 (14:04):
The same principle applies when you're designing your financial portfolio.
You need to start with a strategy. Think of your
financial blueprint as your detailed plan for building a secure
and resilient fiscal house. Your fiscal house has several key
components the foundation, the walls, the roof, and even the fencing.

(14:27):
Just like in home construction, you must begin with a
strong foundation. Without it, the entire structure could crumble.

Speaker 1 (14:35):
So let's talk about that foundation. This will be the
bedrock that keeps everything stable and set up. Think of
these elements as the most protected assets, the money you
absolutely can't afford to lose. This is the cash you
need to pay your bills, buy groceries, and keep a
roof over your head, both now and in the future.
In your fiscal house, the foundation is crucial. While the

(14:57):
walls and roof can be repaired or re built over time,
the foundation must remain solid to support everything else. It's
the element that provides stability and helps ensure your financial
house stands firm even during tough times. Greg give our
listen to some examples of a strong foundation as it
relates to financial planning.

Speaker 11 (15:18):
Generally, it includes financial products that are low risk and
highly preserved. Here are some key components to those foundational assets.
Your checking account, savings account, and CD accounts at the bank.
These are generally protected by the FDIC, the Federal Deposit
Insurance Corporation, and that means your money is insured up

(15:40):
to certain limits. It's a safe place to keep your
everyday funds and short term savings. Second spot would be
government bonds. These are backed by the US Treasury Department,
offering a secure and reliable source of income. They are
one of the safest investments available because they are fully
supported by by the faith and credit of the US government.

(16:03):
And third area could be traditional fixed and fixed indexed annuities.
These are protected by the financial strength and claims paying
ability of the insurance company behind them. They can provide
a steady stream of income, which is especially useful in retirement.

Speaker 1 (16:20):
Warren Buffett often regarded as the leading stage on investing.
As a primary rule, don't lose money. This rule underscores
the importance of having a solid foundation in your financial house.
By focusing on less risky, more stable investments, you can
adhere to this rule and preserve your financial future. Your
foundation is what provides the preservation you need. It's made

(16:44):
up of products that are designed to generate a steady
and reliable income, ensuring you have the financial stability to
cover your essential needs no matter what happens in the markets.

Speaker 11 (16:54):
Next on your financial house blueprint would be the walls.
The walls of your financial portfolio represent the first level
of risk. Unlike the rock solid foundation, these investments can
fluctuate up and down in value and are subject to
a level of risk, including the potential loss of principle However,

(17:15):
they also offer some great benefits like income, cash flow,
and helping to protect against rising inflation.

Speaker 1 (17:23):
Think of the walls as the hardworking elements of your
financial house. They play a crucial role in supporting your
overall goals, but they need to be coordinated with the
foundation in the roof to help ensure everything works together seamlessly.

Speaker 11 (17:36):
Here are some assets that would qualify in this section
relative to taking a little bit more risk in exchange
for the chance of higher returns. Investments that could make
up the walls of your portfolio include corporate bonds, municipal bonds,
hard assets, real estate investment trusts. Taking a step back

(17:58):
and looking at corporate bond you know these are bonds
issued by companies to raise capital. They offer higher yields
relative to treasuries and other government bonds, but come with
a bit more risk. Municipal bonds are issued by local governments,
often used to fund hospitals, schools, roads. These bonds can
provide tax free income, which is a very nice benefit.

(18:20):
Hard assets these include investments like oil, natural gas, gold, silver, farmland,
and commercial real estate. Some of these, like gold and silver,
are commodities and don't provide income, but they may be
valuable for diversification and inflation protection.

Speaker 1 (18:36):
Greg and I need to take a quick break, but
stay tuned and we'll be back later in the show
to provide you with a few more actionable strategies that
can help you construct a strong and lasting financial plan.

Speaker 3 (18:50):
Kelly Financial Services eight eight hundred eighteen eighty one.

Speaker 2 (18:57):
Ready to enjoy your golden years without worry. At Kelly Financial,
we know retirement planning can be overwhelming. With more than
twenty one years of experience, our friendly team of advisors
makes it easy and stress free. Trust us to help
you create a secure and enjoyable future. For a free
initial retirement consultation called eight eight eight eight hundred eighteen

(19:19):
eighty one or email Kelly at Kelly Financial dot org
where Kelly Financial. Come retire with us.

Speaker 5 (19:26):
I'm Kelly Kelly from Kelly Financial. D twenty twenty four
election results could impact your retirement nest egg. Kelly Financial
has a free investor guide called twenty twenty four Election
results What's Next for your retirement, offering five post election
suggestions you might want to consider.

Speaker 4 (19:45):
For the guide.

Speaker 5 (19:46):
Call eight eight eight eight hundred eighteen eighty one or
email Kelly at Kellyfinancial dot org, where Kelly Financial Come retire.

Speaker 3 (19:55):
With us The Money Wrap with Kelly Financial Advisors Greg
Murray and Mary Madeline Kelly.

Speaker 6 (20:04):
Good morning.

Speaker 12 (20:04):
This is Greg Murray, Senior vice president and Chief Compliance
Officer at Kelly Financial Services. Joining me today is Mary
Madeline Kelly, one of our investment advisors. How are you
doing today?

Speaker 13 (20:14):
Good morning, Greg, I'm great. How are you doing.

Speaker 8 (20:17):
I'm doing great.

Speaker 12 (20:18):
I'm looking forward to getting on the slopes tomorrow.

Speaker 13 (20:20):
We'll have fun out there.

Speaker 8 (20:21):
Today.

Speaker 13 (20:21):
Let's talk about another relevant topic of conversation that we're
hearing from our clients lately, the potential impact of the
US debt crisis on social security the US.

Speaker 12 (20:30):
That is definitely something that is being brought up a lot,
as it affects a lot of things within our lives.

Speaker 6 (20:35):
Me.

Speaker 12 (20:35):
For instance, in thirty years, when I hit my full
retirement age, I will have the goalpost moved. I'm expecting
to have my full retirement age set to seventy up
from sixty seven, and I'm expecting to have my benefit
cup by twenty five percent. This is what I talk
about with my friends and families, but for the people
who are close to full retirement age, right now, I
really don't expect any change to their benefits exactly.

Speaker 13 (20:57):
It's definitely a cause for concern for people who are
where close to retiring, but not so much to those
who expect to retire within the next ten years or so.
What the US national debts are passing thirty trillion dollars,
it's a significant worry as it raises questions about the
government's ability to meet its financial obligations. With such a
massive debt burden, there are potential implications for programs like

(21:19):
Social Security.

Speaker 12 (21:20):
Absolutely, Social Security is primarily funded through payroll taxes collected
from current workers. These funds are used to pay benefits
to current retirees. Now, during times of economic strain, where
the government is grappling with a high national debt, there's
a concern about its ability to maintain the financial health
of the social security system.

Speaker 13 (21:39):
The increasing national debt puts pressure on the government's finances,
and that pressure can trickle down to programs like Social Security.
One possible scenario is that the government might have to
make difficult decisions such as raising payroll taxes, reducing benefits,
or even exploring alternate funding solutions to ensure the long
term sustainability of social security.

Speaker 12 (21:59):
Fortunately, the Fedal Reserve has the power to mitigate the
impact of a debt crisis on social security. They can
use monetary policy tools to influence interest rates and stabilize
the financial system. By implementing measures to control inflation and
interest rates, the FED can indirectly support the overall economic environment,
which in turn may help safeguard such programs such as

(22:19):
social security.

Speaker 13 (22:20):
So a good question one might ask is if there
are ways in which we can all prepare for potential
changes to social security For young individuals such as ourselves,
we should try to take any precaution sooner rather than
later if the amount we receive at retirement is reduced.

Speaker 12 (22:34):
For younger individuals, it's about taking a proactive approach. Start
saving for retirement early, explore other investment opportunities, and consider
consulting with the financial advisor to create a comprehensive financial plan.
Being adaptable and saying informed about economic and policy changes
will be key to navigating the involving landscape exactly.

Speaker 13 (22:54):
First and foremost individuals need to stay informed about any
proposed changes to social security. It's crucial to understand how
these changes might impact your retirement plans. Additionally, consider diversifying
your retirement income sources. Relying solely on social Security might
not be sufficient, so having a well rounded retirement portfolio
is essential.

Speaker 12 (23:13):
Regardless of age. Financial planning is a continuous process. Stay informed,
be proactive, and regularly reassess your financial goals. If you
are unsure about your retirement strategy, seek guidance from a
qualified financial professional who can help you navigate these uncertain times.

Speaker 13 (23:28):
Couldn't have said it better myself well, Greg, as always,
thank you for your input today. I hope you have
a wonderful time skiing and a great rest of your weekend.

Speaker 6 (23:36):
You do.

Speaker 12 (23:37):
Mary madel thank you.

Speaker 4 (23:38):
Thanks you.

Speaker 3 (23:38):
To get in touch with Greg Murray or Mary Madeline
Kelly or any member of the Kelly Financial team call
A eight eight hundred eighteen eighty one.

Speaker 10 (23:48):
D Hi.

Speaker 1 (23:50):
I'm Mike Yousa Chief operating officer at Kelly Financial Services.
If your financial advisor is unhappy about you getting a
second opinion about your retirement plan, then to me, that's
a red flag. Here at Kelly Financial not only do
we want to build your plan, but also manage your
wealth for a more secure retirement.

Speaker 8 (24:07):
If this might be of interest, to you.

Speaker 1 (24:09):
Call us for a complimentary consultation on eight eight eight
eight hundred eighteen eighty one, or go to Kelly Financial
dot org.

Speaker 8 (24:17):
We're Kelly Financial. Come retire with.

Speaker 3 (24:19):
Us Safe Money Strategies with John Budris.

Speaker 6 (24:23):
I'm Kelly Kelly.

Speaker 3 (24:24):
Call the team on eight hundred eighteen eighty one.

Speaker 2 (24:32):
And we are back. I am John Budris, the co
host of Safe Money Strategies, and thanks for joining me
this morning. Well, President Donald Trump's second term has raised
many questions about his administration will influence retirement savings. There's
a lot on the table about new taxes, there's a

(24:52):
lot on the table about getting rid of old problems
that came about during the Biden administration. And all over
the country, it's no secret that financial advisors are busy
helping their clients navigate this new landscape, the new shifts
in the market that may happen with which we can't
predict because so many things do influence those and all

(25:15):
of these economic forecasts, in order to guide their clients effectively,
and this is what's happening right now at Kelly Financial.
The takeaway is that during these moments of we might
even say confusion, one thing is crucial. Panic and emotional
financial decisions never work out to the best interests of

(25:38):
those who make those kinds of decisions. Now, to answer
some of these questions that you might have about the
twenty twenty four election and how that could impact your
retirement savings, I'm going to bring on Kelly Kelly, the
CEO of Kelly Financial. Kelly, good morning, and welcome.

Speaker 4 (25:54):
Good morning, John.

Speaker 5 (25:55):
Happy to be with you on this Saturday morning, and happy.

Speaker 2 (25:59):
Now, Kelly, we want to talk this morning about what's
next for retirees now that the twenty twenty four election
is in the rear view mirror. And President Trump and
I'm not going to call him elect, I'm going to
call him President Trump because that's what he is. He's
on his way back to the White House, barring any
kind of catastrophe that may befall him.

Speaker 5 (26:22):
Sure, John, Although this election has set the stage for
a dynamic political landscape, predicting how our president in Congress
will shape the future of retirement can be challenging. In
response to the many questions we've received, Kelly Financial developed
a new investor guide to give our clients and prospects

(26:45):
some peace of mind. Let's go over some answers to
these concerns.

Speaker 2 (26:50):
Okay, let's start with the question about Social Security. Retirees
want to know when will it be depleted and what
can they do about it.

Speaker 5 (26:59):
According to an art published on CNBC dot com, the
trust fund that the Social Security Administration relies on to
pay benefits is projected to run out in twenty thirty five.
Although this is one year later than originally forecasted, there's
still a call for lawmakers to take action.

Speaker 2 (27:20):
What's your take on how likely that is? Kelly?

Speaker 4 (27:23):
Unfortunately not varying.

Speaker 5 (27:25):
Pushing for Social Security reforms has been tricky because the
overall sustainability of the program needs to be addressed to,
which is complex.

Speaker 2 (27:36):
So no lawmaker has tried to tackle this well.

Speaker 5 (27:39):
There's been some proposals that have been suggested over the years,
such as raising taxes on high income earners, increasing payroll taxes,
and raising the retirement age. But we know that our
forty seventh president has some of his own ideas well.

Speaker 2 (27:57):
He has promised to protect Social Security. What are some
of his ideas for doing that?

Speaker 5 (28:02):
President Trump has proposed leaving the program unchanged, as well
as increasing oil production to raise revenue to plug up
any Social Security shortfalls. We also know he was against
raising the retirement age. Unfortunately, without a detailed plan from
the president, it is unlikely that we'll see meaningful reforms

(28:25):
to Social Security until the twenty twenty eighth election or later.

Speaker 2 (28:29):
Well that's concerning What can our listeners do to protect
their retirement?

Speaker 5 (28:34):
Let me start by saying that although the Social Security
Administration may only have the funds to pay out about
eighty percent of payments, you can still retire on schedule.
Retirees can protect themselves if Social Security faces financial challenges
by building a substantial retirement savings nestagg contribute to your

(28:56):
retirement accounts, diversify your investment, develop a realistic budget that
covers your expenses, and be prepared to adapt your retirement
plans if necessary. Your financial advisor can help you revise
your financial plan to be sure it still works for you.

Speaker 2 (29:16):
Well that's helpful, Kelly, Okay, next question, what's happening with
the debt ceiling and national debt? From what I can see,
it's about a trillion dollars every one hundred days.

Speaker 5 (29:29):
As a refresher, the debt ceiling is the country's borrowing limit.
If the government needs to borrow more than that amount,
it needs to get congressional authorization to do so. Since
the government has been spending more money than the taxpayer
revenue it generates, it has to raise the debt limit.

(29:49):
Just this last week, Treasury Secretary Janet Yellen sent a
warning to Congress saying the debt limit will reset to
match the national debt on ji January second, twenty twenty five.
This will force the Treasury to use extraordinary measures to
keep the government's lights on. Treasury Secretary Yellen is calling

(30:11):
on lawmakers to raise or eliminate the debt ceiling or
the US will face financial disaster. As you can see,
President Trump will have several fiscal challenges to face when
he comes into office, including addressing the debt ceiling.

Speaker 2 (30:28):
So how does the national debt impact retirement savings?

Speaker 5 (30:31):
When the governments debating the debt ceiling, there could be
some market volatility. That volatility can mean investment returns take
a hit. Is really not under any investor's control and
it can be hard to predict well.

Speaker 2 (30:47):
How can retirees then protect these investments?

Speaker 5 (30:50):
Nearing the point of a government default on its debt
obligations can have consequences for retirees, but there are a
few strategies that can help navigate the uncertainty. Again, diversify
your portfolio because spreading your investments across various asset classes
can reduce risk. Review your retirement portfolio periodically with a

(31:14):
trusted financial advisor who can recommend wealth preservation strategies. Doing
so ensures it aligns with your goals and risk tolerance.

Speaker 2 (31:24):
Working with an experienced financial professional can certainly provide valuable
guidance as our listeners navigate what's next because there's so
much unpredictability. You mentioned the new investor guide, Kelly. What's
it called again?

Speaker 5 (31:39):
Our free investor guide is called twenty twenty four Election Results,
What's Next for your Retirement? It answers questions about Social
Security and Medicare, taxes, the national debt, and investment performance.
Of course, our listeners can always contact us at Kelly Financial.
Our advisors are always available to answer your questions and

(32:01):
help them stay on track toward their retirement goals.

Speaker 2 (32:04):
That sounds great to get the guide and make a
complimentary appointment with a Kelly Financial advisor called eight eight
eight eight hundred eighteen eighty one er email Kelly at
Kelly Financial dot org. It's all the time we have
for now. When we come back, Kelly will answer post
election retirement questions about expiring tax laws, sundowning I believe

(32:26):
they call that, and handling underperforming investments, in other words,
getting rid of some of the dead wood. You're listening
to Safe Money Strategies the radio show Herd right here
on WRKO and streaming on the iHeart app. Stay tuned
and we will be back in a flash.

Speaker 3 (32:47):
Safe Money Strategies brought to you by Kelly Financial Services.
Call eight eight eight eight hundred eighteen eighty one or
visit Kellyfinancial dot org.

Speaker 4 (32:58):
I'm Kelly Kelly from Kelly Fani Financial.

Speaker 5 (33:00):
The twenty twenty four election results could impact your retirement
nest egg. Kelly Financial has a free investor guide called
twenty twenty four Election Results, What's Next for your retirement,
offering five post election suggestions you might want to consider.

Speaker 4 (33:17):
For the guide.

Speaker 5 (33:17):
Call eight eight eight eight hundred eighteen eighty one or
email Kelly at Kellyfinancial dot org. Where Kelly Financial Come
retire with us.

Speaker 2 (33:27):
Are you moved by the transition from one season to another,
like winter into spring or summer? Into fall. Likewise, we
are moved by life's transitions, losing a job, facing retirement,
the passing of a spouse. Are you prepared for the
financial hazards each transition brings? The financial advisors at Kelly
Financial can help you triumph over life's transitions. Call eight

(33:49):
eight eight eight hundred eighteen eighty one or email Kelly
at Kelly Financial dot org. Serving Boston for twenty one years.

Speaker 3 (33:58):
Safe Money Strategies eight hundred one eight eight one.

Speaker 8 (34:03):
Come retire with us.

Speaker 2 (34:08):
And we are back on John Budris, the co host
of Safe Money Strategies, Thanks for joining me again this
morning and we're going to be welcoming back missus Kelly
in one moment and today's topic is. With Donald Trump
winning the presidential election, financial advisors are actively working with
their clients on what sort of moves those planning for

(34:29):
or living in retirement should be thinking about with their
personal finances and assets. Although we've covered this in past shows,
it's worth repeating presidential election results can have a limited
effect on the long term performance of the market and
the economy, even if it administration's policies can add or
detract from what's driving them both and This is a

(34:52):
very very crucial point. In other words, there can be
spikes in either direction right around a new administration, but
in the long run, there's more predictability to bring some
clarity to the election impacts on your retirement, even if
it's in the short term. Let's bring back Kelly Kelly,
the CEO of Kelly Financial. Kelly, good morning and welcome back.

Speaker 5 (35:14):
Good morning again, John, happy to be back with you
on this fine Saturday morning.

Speaker 2 (35:20):
In our previous segment, you answered some questions that Kelly
Financial has received from clients and prospects regarding the impacts
to their retirement savings. Now that the election is done,
we touched on social security and the national debt. We
know our forty seventh President, Donald J. Trump, has some
plans he's proposed while still working others out.

Speaker 4 (35:42):
That's right, John.

Speaker 5 (35:44):
This has been a historic election cycle, with President Trump
becoming only the second president in US history to serve
non consecutive terms and having both Chambers of Congress control
by the Republican Party when he enters office. And I
say this with a big smile on my face. Our

(36:06):
Kelly Financial clients and prospects have asked what this will
mean for the markets, the economy, and their portfolios. So
why don't we dig into some of these matters so
we can help answer these questions?

Speaker 2 (36:20):
Sounds good. Although President Trump plans to extend key provisions
of his twenty seventeen Tax Cuts and Jobs Act, the
national debt could complicate those efforts, and I say they
probably not can, but they will. How could the expiration
of the existing tax laws affect retirees?

Speaker 5 (36:41):
The twenty seventeen Tax Cuts and Jobs Act ushered in
sweeping federal tax code changes, and most of them are
scheduled to expire on December thirty first, twenty twenty five,
unless Congress takes action. Some of the impacts to the
provisions expiring in clued top tax bracket increases, individual income

(37:03):
tax rate increases, and the estate and gift tax deduction
cut almost in half. This also means that many people
will have to pay higher taxes on their retirement account distributions.

Speaker 2 (37:16):
That is concerning. So what should folks do.

Speaker 5 (37:19):
Before changes to the Tax Cuts Act take effect? It's
best to find out what the implications might be for
your individual retirement income strategy, then decide what you can
do to preserve your money's tax efficiency. Speaking with your
financial advisor and tax professional is a good place to start.

Speaker 2 (37:40):
Are there any tax strategies they could consider now?

Speaker 5 (37:44):
Understanding the difference between taxable, tax deferred, and tax free
investment accounts is important. Your financial advisor can also help
you decide if it's worth doing a Wroth conversion, whether
purchasing life insurance can reduce liability, and if it's prudent
to transfer your wealth early through gifting strategies. We want

(38:06):
to encourage people not to overthink and overanalyze the future.
Your financial advisor can help you adapt your financial plan
as needed to keep you on track towards your goals.

Speaker 2 (38:18):
That's a good reminder, Kelly. Finally, the outcome of the
election will have some influence on the stock market, that's obvious.
Can investors expect volatility.

Speaker 5 (38:28):
Although the stock market will have fluctuations, historically, any long
term effects are likely to be limited. History has shown
that as sweep does cause the stock market to underperform
when the White House in Congress are controlled by the
same party. This is due to the likelihood of policy
changes that can create uncertainty for investors.

Speaker 2 (38:49):
Should our listeners be concerned with their investment performance, whether
it's long term or short term.

Speaker 5 (38:56):
Not Generally, the market does rebound after election in a
few few months that follow and has performed well regardless
of which party is in office. Our Kelly advisors will
look closely at any new administration in their policy proposals,
since new laws could have different effects on various types
of investments. However, we encourage our clients to focus on

(39:19):
their long term goals rather than making any significant changes
based on election results.

Speaker 2 (39:25):
Staying the course can be confusing when there are ups
and downs in the market, those big swings, they can
be terrifying. It's beneficial to know that people don't have
to navigate these changes alone, any more than they would
have to navigate their sailing vessel out in a storm.

Speaker 5 (39:42):
Rece Yes, it's important to consult your financial or tax
professional about your individual's situation because there may be strategies
you can implement to help hedge the risk of higher
taxes and prepare for the possibility of market volatility. At
Kelly Financial Well, our advisors have the knowledge, tools and

(40:03):
skills that support and reassure our clients in times of
uncertainty and help them stay focused on their strategic goals
so they can avoid reacting to changes in political leadership.

Speaker 2 (40:15):
That is good to know, Kelly. If our listeners want
more information on the changes they could face in their
retirement plans following this election, where should they.

Speaker 4 (40:24):
Go contact us?

Speaker 5 (40:25):
We have a free investor guide is called twenty twenty
four Election Results, What's Next for your retirement? That answers
just that, what's next? We look at social Security and
Medicare reform, the Tax Cuts and Jobs Act, President Trump's
plan for the national debt, and considerations for your investment performance.

Speaker 2 (40:48):
All great and useful information. Kelly, Thanks again as always.
To get the guide or to make a complimentary appointment
with a Kelly Financial Advisor, called eighty eight eight eight
hundred eighteen eighty one or email Kelly at Kelly Financial
dot org. That's all the time we have now. Thanks
so much for joining me. You're listening to Safe Money
Strategies the radio show heard right here on WRKO and

(41:11):
streaming on the iHeart app. We're in our nineteenth year broadcasting,
so thank you so much for that. Stay tuned and
we will be back in just a moment.

Speaker 3 (41:24):
Kelly Financial Services. Call eight eight eight eight hundred eighteen
eighty one.

Speaker 2 (41:30):
Are you moved by the transition from one season to another,
like winter into spring or summer interfall. Likewise, we are
moved by life's transitions, losing a job, facing retirement, the
passing of a spouse. Are you prepared for the financial
hazards each transition brings? The financial advisors at Kelly Financial
can help you triumph over life's transitions. Call eight eight

(41:52):
eight eight hundred eighteen eighty one or email Kelly at
Kelly Financial dot org. Serving Boston for twenty one years.

Speaker 5 (42:00):
Hi, I'm Kelly Kelly from Kelly Financial Services. What do
you look for when choosing a financial advisor? We like
to believe is based on shared values, trust and knowledge.
We've been serving clients in the Greater Boston area for
more than twenty years now. If you have investable assets
and want to learn more about our experience, call us
eight eight eight eight hundred eighteen eighty one or email

(42:22):
Kelly at Kellyfinancial dot org to set up.

Speaker 4 (42:25):
A free retirement consultation. We're Kelly Financial.

Speaker 3 (42:28):
Come retire with us safe money strategies cool eight eight
eight eight hundred eighteen eighty one. Well, go to Kelly
Financial dot org. Welcome back. You're listening to safe money strategies.
I'm Mike Ducett, chief operating officer at Kelly Financial, and
joining me in studio this morning is Kelly Financial investment

(42:49):
advisor Greg Workman. Earlier in today's episode, we covered the
foundation in walls of a fiscal house.

Speaker 8 (42:55):
How about a roof? Where does that fit into the blueprint?

Speaker 1 (42:57):
Greg?

Speaker 11 (42:57):
The roof represents the highest love of risk your portfolio
can tolerate. These are the investments that offer significant growth opportunities,
but they also come with the potential for loss, especially
during periods of market volatility.

Speaker 1 (43:12):
Think of the roof as the part of your financial
house that's most exposed to the elements. Just like a
thunderstorm or a hailstorm can damage your home's roof, market
forces beyond your control can impact these investments. That's why
it's crucial to have a stable foundation in strong walls
in place. If your roof takes a hit due to
market ups and downs, it shouldn't cause your entile fiscal

(43:34):
house to crumble.

Speaker 11 (43:35):
Here are some of the key assets that might make
up the roof of your portfolio. Stocks you know these
are shares in a company that give you a stake
of ownership stocks can offer high returns, but they also
come with a high degree of risk. Mutual funds these
are pulled investment vehicles that allow you to invest in
a diversified portfolio of stocks, bonds, other securities, or a

(44:00):
combination of the above. They provide growth opportunities but can
be affected by the ups and downs of the market.
Exchange traded funds otherwise known as ETFs. These are similar
to mutual funds and they offer diversification and can be
traded during market hours. Just like stocks, they can provide
both growth and income, but their value can also go

(44:23):
up and down with the market. Finally, commodities These include
raw materials like oil, gold, and agricultural products. They can
be pretty volatile, but may offer diversification and growth potential.

Speaker 1 (44:36):
It's important to balance these high risk, high reward investments
with the more stable elements of your portfolio. The goal
is to create a diversified mix that can weather market
volatility while still providing growth opportunities. By carefully constructing the
roof of your financial house, you can take advantage of
potential growth while preserving the core stability of your financial plan. Remember,

(44:58):
even if the roof experiences some damage, the strong foundation
in walls will keep the fiscal house standing firm.

Speaker 11 (45:04):
So far, we've covered the foundation, the walls, and the
roof of your financial house. Now let's talk about the fencing.
Just like a physical fence that helps protect your property,
the financial fence around your fiscal house is there to
preserve your assets and financial legacy long after you're gone.

(45:25):
This is where life insurance may come into play. Think
of life insurance as the fence that surrounds the house,
providing a crucial layer of security. The death benefit from
a life insurance policy can help replace your lost income,
helping to ensure that your family can maintain their lifestyle
even in your absence. It can also help cover various

(45:47):
taxes that may be do on your assets, and of
course take care of funeral and other final expenses.

Speaker 1 (45:54):
In addition to life insurance, annuities can also play a
role in providing a financial safety net, offer steady and
reliable income for the rest of your life and can
extend to your spouse as well. This means that even
after you are gone, there will be a consistent stream
of income to support your loved ones. Building a fence
around your fiscal house isn't just about protecting assets. It's

(46:15):
about providing peace of mind. Knowing that your family will
be taken care of financially can give you a sense
of stability and allow you to focus on and enjoining
your retirement now. One of the most important aspects of
building your fiscal house is making sure every element of
your financial picture is included in working together. It's common
for people to have their investments and assets scattered across

(46:37):
various financial vehicles with no centralized strategy or management. For example,
you might have a financial advisor who manages your investment
portfolio and ira that you handle yourself. You may have
a four to one k at work managed by the firm.
You may have insurance policies you bought over the years
through insurance agents and haven't been reviewed in a while.

Speaker 11 (46:56):
When your financial components are spread out like Mike has mentioned,
and it's easy for things to get disorganized. To get
your fiscal house in order, all of these components need
to be reviewed regularly and brought together as part of
a cohesive strategy.

Speaker 6 (47:12):
Think of it like this.

Speaker 11 (47:14):
Just as a well built house requires every room and
feature to be designed and constructed to work in harmony,
your financial house needs all of its parts to work
together smoothly. Regular reviews and updates are essential to help
ensure that your investments, retirement accounts, and insurance policies align

(47:35):
with your overall financial goals.

Speaker 1 (47:38):
Much like building a house to suit the needs of
your family, your fiscal house requires just as much time
and attention, if not more. Financial planning isn't something you
do once and then forget about it. Just like a home,
your financial plan needs constant tweaks, upgrades, and even occasional
repairs to maintain and enhance its value. It's an ongoing

(47:58):
process that requires vigilance and care.

Speaker 6 (48:01):
That's where we come in.

Speaker 11 (48:02):
If you're ready to give your financial plan the attention
that it deserves, call us today and schedule a complementary
consultation with our team at Kelly Financial. You can reach
us at Triple eight eight hundred and eighteen eighty one,
or visit us online at Kelly Financial dot org, where
you can download our investor guide Designing your fiscal house

(48:26):
to weather the elements. Don't wait, call in, schedule your
appointment and let us help you build and maintain a
robust fiscal house with that. My name is Greg Workman and.

Speaker 8 (48:39):
I'm like you said.

Speaker 1 (48:40):
Join us next week for another installment of safe money Strategies.

Speaker 3 (48:48):
Kelly Financial Services go to Kelly Financial dot org.

Speaker 9 (48:52):
Let me tell you about Kelly Financial Services. How will
the twenty twenty four election result affect you when it
comes to your long.

Speaker 10 (48:59):
Term financial plans?

Speaker 9 (49:01):
Getting objective financial guidance could help you achieve a secure
and comfortable retirement. The advisors at Kelly Financial can take
the guesswork out of financial planning by providing the tools
and personalized advice that will help you stay on track,
reach your goals, and give you peace of mind. They
also have a free investor guide called twenty twenty four

(49:21):
Election Results, What's Next for your Retirement, offering five post
election considerations to help you navigate this changing political landscape.
For the guide, or for a free retirement consultation with
a Kelly advisor, call eight eight eight eight hundred eighteen
eighty one eight eight eight eight hundred eighteen eighty one
or email Kelly at Kelly Financial dot org.

Speaker 10 (49:44):
That's Kelly at Kelly Financial dot org.

Speaker 3 (49:49):
Kelly Financial Services go to Kelly Financial dot org. Come
retire with us.

Speaker 14 (50:05):
If you're an investor right now, you might feel I
think the one way to sum that up is a
restless sea. If you've ever been on a restless sea,
it's not quite white caps, it's not quite smooth, it's
not quite rolling, but it's a little bit rough and
you're sort of waiting for it to get worse, and
you're preparing and you're hoping for the best. And I
think that's what today's market might feel like to you,

(50:28):
especially if everything you have is now at the mercy
of people that might not know what they're doing, and
if you feel that that might be happening, and you're wondering,
is there a safe way? Is there a better way? Well,
there is, ladies and gentlemen. There's an old picture of
a man outside of a church freezing. He's right below
the window. It's a winter night, it's snowing, and you

(50:49):
can see a beautiful stained glass window in a cathedral,
and he's huddled there. Well, some people look at that
picture and when I ask them what they think it is,
they say, oh, it's hopelessness. And I say, it's not
hopelessness to me. It's the fact that all that man
has to do is walk around to the front of
the church, open the door. And walk in and start praying.

(51:09):
First of all, he'll be warm. Second of all, there'll
be people in there to help him, actually to soothe him,
maybe feed him. And third he can be on his
way to something much different in his life. So in
the ultimate despair, there is hope. And I think that
it's important as an investor that you preserve what you
have for the most part, to be able to come

(51:30):
back another day if you choose to do so. Remember,
ladies and gentlemen, you don't have to play by their rules.
You don't have to play by their rules. So if
you feel like you're in a restless sea, if it
gets much worse, you could become seasick or become injured.
You're hoping for the best in a restless sea because

(51:50):
you want to get to your destination. But what might
be happening is things could be worsening over the horizon,
and you can't see over the horizon know what's happening
around you. So we prepare for the worst. And right
now I think we have to be careful about sustaining
losses until this market takes shape again. And if people

(52:11):
are out there saying there are goodbyes, well I'll tell
you what I'll say to them goodbye, because we don't
trust anything that's happening right now. But anyway, it's an
underlying feeling that we are rudderless. So we're in a
restless sea and we're rudderless. So being rudderless means it's
hard to get direction. You have to control the boat
by oars, and you have to push, and you have

(52:33):
to pull, and you have to struggle. So in order
to do that, it's going to take a lot more
effort to get where you want to go. There's a
lot more danger in having a rudderless vessel. And if
you have a captain who hasn't done this before, it's
going to get rough. And if you've been out on
the ocean and you've navigated a boat, then you know
it's tricky and looks are very deceptive, So very experienced

(52:57):
captains have found themselves lost ladies. And because things can
get out of hand fast, it's like airplane pilots. They
can experience vertigo. They can find themselves actually upside down
in very dense clouds and they can't figure out where
they are, and they try to pull up, and in
trying to pull up, they're actually driving the plane right
into the ground. So that can happen at sea. So

(53:19):
if you feel like there's a restless sea, the markets
are on a restless sea. And if you feel that,
people play you. If Reuters has good news about jobs,
in other words, there are less people filing for unemployment,
what about the hiring numbers, ladies and gentlemen, what about
the new jobs? If there are less people filing for unemployment,

(53:39):
if we hire five hundred and fifty thousand people into
the census, then what does that do to the job numbers? Well,
it takes five hundred and fifty thousand people off of
the unemployment rolls or out of the unemployed category. But
we don't consider the fact that many people, many many
people have given up looking for work. One in five

(54:00):
people right now in our country is on government assistance.
That's a lot. Forty plus percent of our people in
America pay no taxes. So if you're at a bus stop,
you're sitting with ten people on that bench. Four of
them are not paying taxes and the other six are.
It's getting close to five pretty soon, it'll be fifty
to fifty when it goes over that. We're in deep,

(54:21):
deep trouble. So if you're feeling like the investing world
is a restless sea right now, then how do you react?
You prepare for the worst, you pray for the best,
and you make sure you're safe if that's at all possible.

Speaker 15 (54:34):
I wish safe money strategies eight eight eight hundred one
eight eight one coratie with us.

Speaker 5 (54:47):
I'm Kelly Kelly from Kelly Financial. Election cycles can stir
up strong emotions, prompting you to make financial decisions that
may not be the right ones. Short term events like
elections or economic shifts matter less when you're at the
accumulation stage in your retirement planning journey, but if you're
either in retirement or close to it, you may not

(55:09):
have the time or income to recover from market fluctuations.
The advisors at Kelly Financial can help balance your portfolio
so it aligns with your risk tolerance and retirement timeline.

Speaker 4 (55:20):
We also have a free investor.

Speaker 5 (55:22):
Guide called twenty twenty four Election Results What's Next for
your Retirement, offering five post election considerations to help you
navigate the future. For the guide, or for a free
consultation with a Kelly advisor, call eight eight eight eight
hundred eighteen eighty one, or email Kelly at Kellyfinancial dot

(55:43):
org where Kelly Financial Come retire.

Speaker 3 (55:46):
With us safe money strategies brought to you by Kelly
Financial Services. Call eight eight eight eight hundred eighteen eighty
one or visit Kellyfinancial dot org.

Speaker 16 (55:59):
The news break is come up, and during the break,
take the time to give a call at eight eight
eight eight hundred eighteen eighty one and make that all
important first step to secure your retirement future. Talk things
through with a financial advisor about any aspect of retirement
or money management, whether it's your portfolio, concerns about health care,
or if you're tossing around the idea of relocating or

(56:20):
maybe helping out with your grandchildren's college. You see, a
financial advisor isn't only about the stock market. That's only
a portion of the job description. And in the end
you'll be amazed at how very small adjustments over time
can have enormous results when it's time to retire. In fact,
these adjustments can be the difference of when you can retire,
or in some cases, whether you can retire at all.

(56:42):
So call us at eight eight eight eight hundred eighteen
eighty one or visit us at Kelly Financial dot org
and raise a toast to your financial future. Eight eight
eight eight hundred eighteen eighty one. Kelly Financial Services with
offices in Braintreet and Burlington. All Right, see you next week.
Means expressed by the host, his guests or employees of
Kelly Financial Services are solely their own and do not

(57:04):
reflect the opinions of Kelly Financial Services. Information has been
obtained from sources deemed to be reliable, but their accuracy
and completeness cannot be guaranteed. The information provided as general
in nature and is not intended to be specific investment,
tax or legal advice. It is always advisable to consult
a professional before making a financial decision. The host is
a client of Kelly Financial Services in exchange for hosting
the Safe Money Strategies Show and providing testimonials of his
personal experience as a client of Kelly Financial Services.

Speaker 2 (57:25):
Kelly has waif the host's advisory v in full.

Speaker 16 (57:27):
Because of this arrangement, where the host receives compensation in
the form of a fee waiver, the host has an
incentive to recommend Kelly Financial Services, resulting in the material
conflict of interest