Kelly Financial: Saturday, June 13, 2026

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Episode Transcript

Speaker 1 (00:12):
It's coming to so.

Speaker 2 (00:20):
Ladies and gentlemen, welcome to Safe Money Strategies on WRKO.
I'm William Kelly and it's an honor to carry on
a family legacy rooted in real world values.

Speaker 3 (00:29):
And practical advice.

Speaker 2 (00:31):
Kelly Financial was founded in two thousand and three by
my parents, my late father Bill Kelly and my mother
Kelly Kelly and Braintree and Burlington, Massachusetts. Just two years later,
Dad launched Safe Money Strategies on WRKO as a no
nonsense callin radio show focused on common sense planning and
protecting wealth.

Speaker 3 (00:49):
Over the past.

Speaker 2 (00:50):
Two decades, Dad became a pillar in New England finance,
an engineer turned entrepreneur, author and philanthropist who believed in
giving back and walking the talk. Since our show has
remained a Saturday morning staple, offering insight and empowerment. Here
at Kelly Financial, we help steward over eight hundred million
dollars across our affiliated business, including more than six hundred

(01:12):
million dollars managed by our sec registered investment advisory or
fiduciary care, and our family first philosophy guides us on
safe money strategies. You'll hear candid conversations with the team
my mother Kelly, myself, advisors Charlie Gable, Mike Ducett, Greg Workman,
Greg Murray, my sister Mary Madeline, Tom Schleger, and Josh Smith.

(01:33):
We live by two rules, never quit and carry on,
and we're here to help you do the same when
it comes to your money. Stick around, take notes, and
join the conversation. To learn more or get our free
guides or schedule a consultation, visit Kelly Financial dot org
or call us at eight eight eight eight hundred one
eight eight one. This is Safe Money Strategies. Next up

(01:54):
Forever Young with Kelly Kelly and myself William Kelly Junior.

Speaker 4 (02:02):
Safe Money Strategies with William Kelly and Kelly Kelly eight
hundred eighteen eighty one.

Speaker 5 (02:15):
Each week on Safe Money Strategies, we take a moment
to step back from the headlines and have a real conversation,
the kind you might have around the kitchen table. This
is a part of the show we call Forever Young
is where I sit down with my son William Kelly Junior,
and we talk about life, what's going on in the world,

(02:36):
in our family, and what really matters most when you're
planning for the future. Sometimes is light, sometimes is thoughtful,
but it's always real.

Speaker 6 (02:45):
Good morning William.

Speaker 3 (02:47):
Good morning Mom. How are you.

Speaker 6 (02:49):
I'm doing great? How about yourself?

Speaker 2 (02:51):
I'm doing fantastic. I had a challenge this past week.
In detail, I will you certainly are very wear this challenge.

Speaker 3 (03:01):
I had to take care of the house by myself
for was that three four days?

Speaker 6 (03:07):
I can't remember, Yeah, something like that.

Speaker 2 (03:09):
It it might have been five days, might have been
the whole like a whole working on it.

Speaker 6 (03:13):
It was five days. Okay, yeah, that was you love
the checklist I left you.

Speaker 2 (03:18):
Actually, you know what, I'm not going to complain about
that because it was very helpful. But man, ladies and gentlemen,
we have a list of stuff to do in this household.
We for some reason, there are lights everywhere.

Speaker 3 (03:30):
We have lights everywhere, cameras everywhere.

Speaker 6 (03:33):
And I'm always security minded.

Speaker 2 (03:36):
So you know, set the alarm, do this, do that,
lock these doors?

Speaker 3 (03:40):
Yes, and the animals have their own schedule.

Speaker 2 (03:43):
And to add to this challenge, it wasn't just a
normal challenge of taking care of the house by yourself,
but it was also take care of Mary Madaline's puppy.

Speaker 6 (03:51):
Yes, you had a handful.

Speaker 5 (03:53):
I did so it was like literally Melly Bally, Melly Bailly, Kelly, Melly.

Speaker 3 (03:58):
Belly, Kelly, Jelly belly cake.

Speaker 6 (04:01):
She has so many nicknames.

Speaker 3 (04:02):
I know she does what she's earned.

Speaker 2 (04:05):
That dog is really cute, but she is a spinning
image of her sister. She's very sweet and very you know,
very beautiful dog like Bossy.

Speaker 3 (04:15):
Yes, has like a secret like like aggressive side.

Speaker 6 (04:18):
Like the stairs.

Speaker 3 (04:21):
Yes, she's like the Yes, I know she's got some
bite to her.

Speaker 5 (04:25):
Yeah, and not to us, but to Georgia. Yeah, Georgia
also on the stairs.

Speaker 3 (04:31):
She's very yeah, or any other dogs that come over.

Speaker 2 (04:35):
She loves to wrestle with Marshall, so she abuses her brother,
which is what Murray Madaline did to me.

Speaker 3 (04:40):
So it's perfect. It's like a.

Speaker 6 (04:41):
Parallel funny that her brother is a cat.

Speaker 3 (04:44):
Marshall loves it though.

Speaker 2 (04:45):
He loves play fighting with her, but the noises he
makes are so funny. Dog.

Speaker 6 (04:50):
I think so too, because he grew up with Georgia.

Speaker 3 (04:53):
That's really what he knows, the only other animal he knows. Correct. Yeah, man,
maybe he remembers some of his siblings when he was born.

Speaker 6 (05:00):
In the first eight weeks of his life.

Speaker 2 (05:02):
Yeah, but after that he was sent to dog land. Honestly,
he's great with dogs. As long as he knows the dog,
he's comfortable.

Speaker 6 (05:10):
So you were compliant with everything.

Speaker 3 (05:12):
I was compliant with everything.

Speaker 2 (05:14):
The house did not burn down, believe it or not,
So ladies and gentlemen, turns out that I am what
they call responsible.

Speaker 6 (05:19):
Of course, shock William.

Speaker 3 (05:21):
I could not believe this, But I didn't think you were.

Speaker 5 (05:24):
I would you if I didn't think that you were responsible,
I would have never left.

Speaker 6 (05:28):
You in charge.

Speaker 3 (05:30):
Well, that's comforting to hear.

Speaker 6 (05:31):
I appreciate that.

Speaker 2 (05:33):
Now you were on your trip in Georgia, I was,
and you were taking care of a couple of family
things that you needed to do. Relevant to our discussion
in the show today, Yes, so, I think, as we discussed.

Speaker 3 (05:44):
Before we started, I think.

Speaker 2 (05:46):
It's very relevant that you bring up some of it
so that you can speak from your personal experience and
you can tell our listeners what you're dealing with and
how you're dealing with it, and what the plans are
and et cetera.

Speaker 6 (05:56):
Just yeah, well, you know, it's not it's not easy to.

Speaker 5 (06:00):
Talk about, you know, when you're talking about your own
life and regarding parents. But it's you know, it's so important.
We've been planning for more than a year and there
have been a lot of stages, you know, because they're
you know, my father, your grandfather did not retire until

(06:21):
you know, he was eighty six. He was running a farm,
you know, and it was it was time.

Speaker 6 (06:27):
And so we've had different priorities.

Speaker 1 (06:29):
And the farm was first, and you know, there were
things in the middle, you know, and then finally his
home and that was the toughest, I think.

Speaker 6 (06:40):
But we closed on his house recently. Wonderful family.

Speaker 5 (06:45):
They love it, they love everything about it.

Speaker 3 (06:49):
It is a lovely home, I know.

Speaker 2 (06:52):
To give you guys some backstory, especially if you just
tuned in, Mom has been preparing and planning and that
she's been working with siblings on a state things with
her with her father, my grandfather, and he's moved into
a non assisted living.

Speaker 6 (07:09):
No it's independent.

Speaker 5 (07:10):
But his health has declined, you know, and that's so
it's just has been.

Speaker 6 (07:15):
Being there with him. Yeah, and I still.

Speaker 5 (07:19):
I feel like he will rebound here because he had
an infection, a sinus infection that setting back about a
month ago, so he's still kind of recovering from that.
But but it's you know, just being there, and even
though I'm a thousand miles away, I still talk to
him at least twice a day.

Speaker 6 (07:39):
He answers my calls. Bless his heart. Then I talked
to him in the morning and then early evening.

Speaker 2 (07:48):
Knows the rules whenever Kelly, Kelly, I.

Speaker 5 (07:51):
Will text Cmas, I will oh, I will I think
my dad's ringer is turned off, and they they react,
they get back to me and they will pick up
his phone and call me and then give it to
him if they have to.

Speaker 3 (08:08):
You know, we talk about how incredible the people over
there are.

Speaker 6 (08:11):
Oh William.

Speaker 5 (08:13):
Every time I go, it reconfirms what a wonderful place
it is. I can tell it's family owned, I can
everyone there is just so wonderful.

Speaker 3 (08:26):
I think it's so important that you plan for these.

Speaker 5 (08:30):
Yuss because they are reality and you want to be present.

Speaker 6 (08:36):
You want to take the time and do it in advance. Yes,
So it's you know.

Speaker 5 (08:42):
In every every family is different, every situation is different,
and it's about coming together and including everyone the family.

Speaker 6 (08:53):
And these discussions, you know, and.

Speaker 5 (08:56):
Then planning them and they don't always go as planned, but.

Speaker 6 (09:00):
But you reevaluate and you have to modify.

Speaker 5 (09:04):
You know, that's life. You have to modify. It's a
constant modification.

Speaker 2 (09:10):
Absolutely, And thank you for sharing and opening it up
and being a little vulnerable about your story.

Speaker 3 (09:15):
So I appreciate it.

Speaker 6 (09:16):
Leisure, it was I was resistant. You know, it's not
easy to talk about this.

Speaker 2 (09:21):
Stuff so hard. I'm sure it's going to be the same,
you know, I mean, this.

Speaker 5 (09:26):
Is this is life for all of us who have
loved ones, you know, but it's getting through it, moving
forward and always being respectful and you know, I mean
you want to keep that dignity. And it's just there's
so many different parts to this. But we do have

(09:46):
an interesting segment coming up later in the show. Do
keep us on your dial. We've got a lot of
great content coming your way. Might do set in. Greg
Workman will discuss the value of a retirement review, why
many and investor seek a second opinion, and how a
written retirement strategy may help bring greater clarity and confidence

(10:07):
to your financial future.

Speaker 6 (10:09):
Mary Madeline Kelly and Greg Murray.

Speaker 5 (10:12):
We'll talk about why staying disciplined, trusting your financial plan,
and relying on experienced guidance can help you navigate uncertainty
with greater confidence. When William and I return, we'll explore
how thoughtful planning today can help preserve independence, dignity, and quality.

Speaker 6 (10:33):
Of life in the years ahead.

Speaker 5 (10:35):
And of course we'll close the hour with some win
and wisdom from.

Speaker 6 (10:39):
The late Bill Kelly.

Speaker 5 (10:40):
His words continue to inspire and guide us. That's a
wrap for forever Young Thank you for listening, and William,
thank you for joining me.

Speaker 6 (10:50):
We'll be back with more great content.

Speaker 5 (10:53):
I love you, Honey, I love you too.

Speaker 7 (11:03):
Hi, friends, let me tell you about Kelly Financial Services.
One of the biggest decisions in retirement isn't just about
your money. It's about where you're going to live, and
that choice can have a real impact on your lifestyle
and your financial picture. So you think about downsizing. It
sounds simple until space becomes an issue.

Speaker 8 (11:24):
A fifty five plus.

Speaker 7 (11:25):
Community could be a great fit, but it comes with rules.

Speaker 3 (11:28):
Moving in with.

Speaker 7 (11:29):
Family well, that works for some, but it's not always easy.
The reality is every option involves trade offs. That's why
you need to make decisions with a clear plan, and
Kelly Financialists put together a complimentary investor guide. It's called
your Retirement Income Planning Checklist. It covers every key considerations

(11:54):
every key decision that you need to make, so you
can be informed to request it. Paul eighty eight eight
eight hundred eighteen eighty one or email Kelly at Kellyfinancial
dot org.

Speaker 3 (12:08):
Welcome back to Save Money Strategies.

Speaker 9 (12:09):
I'm Mike Ducett, chief operating Officer, and alongside me, as
always is Greg Workman, investment advisor.

Speaker 3 (12:16):
Greg.

Speaker 9 (12:16):
On last week's show, we talked about the value of
a complementary retirement review and why it can be so
helpful to get a second opinion on your retirement plan.

Speaker 8 (12:24):
That's right, Mike.

Speaker 10 (12:25):
We discussed how many people spend decades saving for retirement,
but eventually there comes a point where you want to
know if all of those pieces are working together the
way they should.

Speaker 9 (12:35):
And one thing I think surprises people is that when
someone comes in for a review, we usually not uncovering
one huge problem. Most of the time, it's a handful
of smaller issues that may have gone unnoticed over the years. Individually,
they may not seem like a big deal, but together
they can have a meaningful impact on someone's retirement exactly.

Speaker 10 (12:56):
And that's what we thought we'd talk about this week.
Over the year, we've reviewed hundreds of retirement plans, and
there are certain issues that come up again and again.
These aren't mistakes made by irresponsible people. In fact, most
of these folks have done an excellent job saving and
preparing for retirement. The challenge is that retirement has become

(13:19):
much more complicated than it was twenty or thirty years ago.

Speaker 9 (13:23):
Let's use a hypothetical example, not actual clients, but a
very common situation that we see often. We'll call them
Tom and Linda. Tom is sixty four and planning to
retire sometime next year. Linda is sixty two and hopes
to retire shortly after that. Between the four h one
k's iras and investment accounts, they've accumulated roughly one point

(13:45):
two million. On paper, they looked like they were doing
everything right. No major debt, consistent savers, hard working people,
and honestly, Greg, they felt pretty confident walking through the door.

Speaker 10 (13:56):
And they should have. They've done a lot of things right.
But when we sat down and started to review their plan,
we identified several opportunities to improve their retirement outlook.

Speaker 8 (14:08):
The first one is probably.

Speaker 10 (14:10):
The most common mistake we see, taking more investment risk
than necessary.

Speaker 9 (14:15):
This is a big one because Many people build a
portfolio during their working years and then never really adjusted
as retirement approaches.

Speaker 10 (14:23):
That's right, when you're thirty five years old and contributing
to your retirement accounts each and every paycheck, market volatility
is usually more of an inconvenience than a major issue.
You still have decades ahead of you time for the
market to recover. But when retirement is right around the corner,
the conversation certainly changes. Now we're talking about protecting income,

(14:48):
preserving assets, and making sure your portfolio can support you
for the next twenty or thirty years.

Speaker 3 (14:55):
What did we find with Tom and Linda?

Speaker 10 (14:57):
Their portfolio was invested almost exactly the same way it
had been ten years earlier. Nearly eighty percent of the
retirement assets were invested in stocks. Now that doesn't automatically
mean it's wrong. The question is whether that level of
risk aligns with their retirement goals, and.

Speaker 9 (15:18):
That's where many investors get tripped up. People often think
their portfolio is conservative because they don't feel nervous during
good markets.

Speaker 3 (15:26):
The rail test comes.

Speaker 9 (15:26):
When the market declines twenty percent, thirty percent, or even more.

Speaker 10 (15:30):
One question I like to ask is simple, if your
retirement account lost two hundred and fifty thousand dollars this year.
Would that change your retirement plans? For many people, the
answer is yes. That's why understanding risk is so important, you.

Speaker 9 (15:49):
Know, Greg, One of the things we talk about with
clients is that retirement planning isn't necessarily about aiming to
maximize returns anymore. It's about aiming to maximize the probability
of success.

Speaker 8 (16:00):
That's right. The goal isn't to hit home runs.

Speaker 10 (16:03):
The goal is to create a retirement plan that allows
you to sleep at night and provides confidence that your
money can last throughout retirement.

Speaker 9 (16:13):
The second mistake we uncovered with Tom and Linda is
one we've.

Speaker 3 (16:16):
Discussed on previous shows.

Speaker 9 (16:18):
Having investments but not having a retirement income plan.

Speaker 8 (16:22):
This is incredibly common.

Speaker 10 (16:24):
People spend thirty or forty years focused on accumulating assets,
then one day retirement arrives and suddenly the question becomes,
how do we turn these assets into a paycheck.

Speaker 9 (16:36):
Tom and Linda had over a million dollars saved, but
when we started discussing retirement income, they.

Speaker 3 (16:42):
Didn't have a clear strategy.

Speaker 9 (16:44):
Which accounts should they draw from first, When should they
claim Social Security? How much can they safely spend each year.
How should they coordinate withdrawals from taxable accounts versus retirement accounts.

Speaker 3 (16:54):
Those questions hadn't really been answered.

Speaker 10 (16:57):
And that's understandable because most people have if we're retired before.
It's not something you get to practice, but those decisions
can have a tremendous impact on the success of a
retirement plan.

Speaker 9 (17:10):
One analogy we often use is that saving for retirement
and living in retirement require two completely different skill sets.
Accumulating assets is one challenge, turning those assets into reliable
income is another challenge.

Speaker 10 (17:24):
Entirely, that's why we spend so much time helping clients
build a retirement paycheck. We want them to understand where
their income is coming from and how that income might
be affected by market conditions, inflation, taxes, and unexpected expenses.

Speaker 9 (17:40):
When we come back, we'll continue our discussion of the
five biggest retirement mistakes we uncover during a complementary retirement review.
We'll talk about one mistake that could potentially cost retirees
thousands of dollars in unnecessary taxes, along with two other
areas that are frequently overlooked.

Speaker 3 (17:56):
Stay with us. We'll be right back.

Speaker 4 (18:03):
Kelly Financial Services eight eight eight hundred eighteen eighty one.

Speaker 5 (18:08):
I'm Kelly Kelly from Kelly Financial. Is your financial advisor
a fiduciary? In other words, are they legally required to
act in your best interest? My complimentary book, Retire Your Fear,
Plan Your Future, explains what a fiduciary is and will
help you understand if an advisor is really putting you first.
For the book, call eight eight eight eight hundred eighteen

(18:30):
eighty one or email Kelly at Kellyfinancial dot org.

Speaker 6 (18:34):
We're Kelly Financial. Come retire with us.

Speaker 4 (18:38):
The Money Wrap with Kelly Financial Advisors. Greg Murray and
Mary Madeline Kelly.

Speaker 3 (18:45):
Good morning.

Speaker 11 (18:45):
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 wealth advisors. How are you
doing today?

Speaker 12 (18:54):
I'm doing great, Greg, and I wanted to start today
with something.

Speaker 3 (18:59):
We've been talking about recently.

Speaker 12 (19:00):
We were talking about clients who sell out of the
market during a downturn and afterward the sale regretted the decision,
and honestly, I think it's a lesson a lot of
people can relate to.

Speaker 11 (19:10):
I agree, because when emotions start taking over even sophisticated
investors can make decisions that don't align with their long
term goals exactly.

Speaker 12 (19:18):
And that's what we're talking about today. While trusting your
plan and the professionals you've chosen to help guide you
can be so important.

Speaker 11 (19:25):
And I think it's important to clarify something right from
the start. This isn't a blindly following advice. It's about
understanding why you saw professional guidance in the first place.

Speaker 12 (19:33):
Most people don't hire an advisor because they need help
logging into an account or checking a balance. They hire
an advisor for perspective, experience, and objectivity, especially during difficult times.

Speaker 11 (19:44):
Because when markets are calms, sticking to a plan feels easy.
The real test comes when uncertainty shows.

Speaker 12 (19:49):
Up, and uncertainty has a way of making emotions louder
than logic. When markets are falling, it can feel like
you need to do something.

Speaker 11 (19:56):
Immediately, but often the decisions that feel the most comfortable
emotion in the moment end up being the most damaging
financially over the long run.

Speaker 12 (20:04):
That's such an important point. The urge to do something
can be incredibly strong, but investing success is often less
about making dramatic moves and more about remaining discipline, and.

Speaker 11 (20:15):
That's why we spend so much time creating plans before
difficult periods happen. We don't build financial plans based on
perfect markets. We build them expecting that there will be uncertainty, volatility,
and unexpected events along the.

Speaker 12 (20:26):
Way, exactly because if your plan only works when something
is going well, it's probably.

Speaker 3 (20:31):
Not much of a plan.

Speaker 11 (20:32):
And the reality is that marcus have always experienced periods
of fear and uncertainty. While every situation feels unique in
the moment, volatility itself is not unusual.

Speaker 12 (20:41):
Of course, investing involves risk, including the potential laws of principle.
Market declines are never comfortable, but discomfort alone doesn't necessarily
mean something is wrong, and.

Speaker 11 (20:51):
That's often where an advisor can provide value, not by
predicting the future, but by helping clients separate emotion from strategy.

Speaker 12 (20:58):
I think that's one of the biggest misconceptions people have
about financial planning. They think it's all about investments, but
a lot of it is actually about behavior.

Speaker 3 (21:06):
I completely agree.

Speaker 11 (21:07):
Some of the most important conversations we have aren't about performance.
They're about helping people stay focused on the goals. They
established when emotions weren't driving the conversation.

Speaker 12 (21:15):
And this applies outside of investing too. Think about a doctor,
an attorney, a CPA, or even a coach. We often
seek out experts because they have experience and perspective that
we don't have.

Speaker 11 (21:26):
Ourselves exactly, and when emotions are high, that's usually when
expertise becomes most valuable.

Speaker 12 (21:31):
Because emotions tend to be strongest at exactly the worst times.
Fear often peaks near market lows, and excitement often peaks
near market highs.

Speaker 11 (21:40):
Which is one reason why chasing headlines and reacting emotionally
can create challenges for long term investors.

Speaker 12 (21:46):
Another thing to remember is that trust isn't built overnight.
It comes from communication, education, and understanding how a recommendation
fits into your overall plan.

Speaker 11 (21:56):
That's right, how good advisors should help clients understand not
just what they're recommending, but why they are recommending it.

Speaker 12 (22:01):
And when you understand the reasoning behind a strategy, it's
often easier to stay committed to it during difficult periods.

Speaker 11 (22:08):
Because ultimately, a financial plan is designed to help you
navigate uncertainty, not avoid it altogether.

Speaker 12 (22:13):
So for listeners, the takeaway simple. If you've taken the
time to build a thoughtful plan, and you've chosen a
professional you trust. Remember that their value often becomes most
apparent during periods of uncertainty.

Speaker 11 (22:24):
And as always, every financial situation is unique and investment
decisions should be based on your goal's timeline and risk tolerance.

Speaker 12 (22:31):
But one of the greatest benefits of working with an
advisor is having someone who can provide perspective when emotions
are trying to take over.

Speaker 3 (22:38):
Well said, that's going to wrap things up.

Speaker 11 (22:40):
If you'd like help building a financial plan designed to
weather life's ups and downs, give us a call.

Speaker 3 (22:44):
We'd be happy to help.

Speaker 6 (22:45):
Absolutely.

Speaker 12 (22:46):
Thanks Greg, and enjoy your weekend.

Speaker 4 (22:48):
To get in touch with Greg Murray or Mary, Madeline Kelly,
or any member of the Kelly Financial team, call at
eight eight hundred eighteen eighty one. Safe Money Strategies with
William Kelly and Kelly Kelly Call the team on eight
eight hundreds eighteen eighty one.

Speaker 5 (23:16):
Welcome back to Save Money Strategies. I'm Kelly Kelly alongside
my son, William Kelly Junior.

Speaker 2 (23:24):
And today we're talking about something many families don't think
about until they're forced to. What life can really look
like in our eighties and beyond, and why preparing for
longevity may be one of the most.

Speaker 3 (23:34):
Important parts of retirement planning.

Speaker 6 (23:36):
William.

Speaker 5 (23:37):
When most people think about retirement, they tend to focus
on getting to retirement. They think about savings, They think
about social security investments and creating income. But what many
people don't fully appreciate is that retirement may last much
longer than previous generations. Ever imagine that's true.

Speaker 2 (24:01):
A generation ago, someone retiring at age sixty five might
have expected retirement to last ten or fifteen years. Today,
reaching your eighties, nineties, and even one hundreds is becoming
increasingly common, and.

Speaker 6 (24:14):
That's wonderful news.

Speaker 5 (24:15):
Living longer is such a blessing, but it also changes
the conversation. Retirement isn't simply a finish line anymore. It's
another stage of life that requires planning. It requires flexibility
and adjustment.

Speaker 3 (24:34):
The question isn't whether we're living longer.

Speaker 2 (24:37):
The question is whether we're preparing ourselves and our families
for what those additional years may bring.

Speaker 5 (24:42):
And one of the first realities many people encounter involves
changes in the body itself.

Speaker 6 (24:49):
None of us like to think about it, but aging
often affects.

Speaker 5 (24:54):
Our balance and our strength, our vision, hearing, and our
reaction time.

Speaker 2 (25:00):
The challenge is that many people still picture themselves as
they were twenty years earlier.

Speaker 5 (25:04):
Exactly, they continue doing things the same way they've always
done them, even when their body is telling them it
may be time to make some modifications.

Speaker 3 (25:15):
And making adjustments isn't giving up independence.

Speaker 6 (25:18):
Not at all.

Speaker 5 (25:19):
In many cases, adapting is what preserves independence. Something as
simple as adding better lighting, removing trip hazards, installing grab bars,
or accepting the use of a mobility aid can significantly
reduce the risk of a serious fall.

Speaker 3 (25:39):
Independence isn't doing everything yourself.

Speaker 2 (25:42):
Independence is making smart decisions that allow you to continue
living life on your terms.

Speaker 6 (25:47):
I couldn't agree more.

Speaker 5 (25:49):
The most successful older adults I've known tend to focus
on what they can still do, rather than dwelling on
what they've lost.

Speaker 2 (25:58):
Another reality families often fail involves memory and cognitive.

Speaker 5 (26:02):
Changes, and this can be difficult because cognitive changes often
happen gradually. A missed appointment here, a forgotten conversation there.
At first, families may dismiss those moments as normal aging.

Speaker 2 (26:17):
Sometimes they are. Some forgetfulness can be a normal part
of getting older.

Speaker 5 (26:21):
But families also need to recognize that there can be
a difference between occasional forgetfulness and more significant cognitive concerns.
That's why early conversations matter so much.

Speaker 2 (26:36):
It's far easier to discuss preferences, wishes, and future plans.

Speaker 3 (26:39):
While everyone is healthy than during a crisis.

Speaker 5 (26:42):
Exactly, waiting until a major health event occurs often means
decisions are being made under pressure with limited options.

Speaker 2 (26:51):
One thing experts consistently encourage is staying mentally engaged.

Speaker 5 (26:56):
Reading, learning, hobbies, social interaction, action, faith communities, volunteering. Those
activities don't just add enjoyment to life, they can help
support cognitive wellness and provide a continued sense of purpose.

Speaker 2 (27:13):
Which brings us to another topic that families often underestimate, caregiving.

Speaker 5 (27:18):
Many people assume that if help has ever needed, a
spouse or adult child will simply step in and handle everything, but.

Speaker 3 (27:27):
The reality can be far more complicated.

Speaker 5 (27:29):
It often is adult children may be managing careers, raising families,
supporting grandchildren, and handling their own financial responsibilities. Adding caregiving
responsibilities can create significant emotional and physical demands.

Speaker 2 (27:48):
And when expectations have never been discussed beforehand, misunderstandings can occur.

Speaker 5 (27:53):
That's why honest conversations are so important. Families don't have
to solve every future price problem today, but discussing possibilities
ahead of time can reduce confusion, stress, and conflict later.

Speaker 2 (28:09):
Caregiving is often an active love, but it works best
when families prepare before crisis arrives.

Speaker 5 (28:15):
Another challenge that receives far less attention than it deserves
is loneliness and social isolation.

Speaker 3 (28:22):
That is something many retirees don't anticipate.

Speaker 6 (28:25):
That's right.

Speaker 5 (28:26):
As people age, social circles naturally change. Retirement removes workplace relationships,
friends relocate, help issues arise. Sadly, many people experience the
loss of spouses and lifelong friends.

Speaker 2 (28:43):
Research continues to show that social connection plays an important
role in both emotional and physical well being.

Speaker 6 (28:50):
It really does.

Speaker 5 (28:51):
Community involvement, volunteering, church activities, hobbies, clubs, and family relationships
all help create purpose and connection.

Speaker 2 (29:02):
Many people spend decades planning financially for retirement, but spend
very little time planning how they'll remain socially connected.

Speaker 5 (29:09):
And staying connected may become one of the most important
investments they ever make.

Speaker 3 (29:15):
Which brings us to one final point.

Speaker 5 (29:17):
The best time to discuss aging and caregiving, housing decisions
and long term care. Isn't when there's an emergency, is
before one occurs.

Speaker 3 (29:28):
Planning ahead creates choices exactly.

Speaker 5 (29:31):
It gives families more control, more flexibility, and often better outcomes.
At Kelly Financial we help clients think about more than
investments and retirement income. We help them think about the
practical realities that can affect quality of life as they age.

Speaker 2 (29:51):
And for listeners who would like to learn more, we
have a complimentary guide called you are looking forward to retirement?

Speaker 3 (29:57):
But what if you need long term care?

Speaker 6 (29:58):
The goal is not to create fear.

Speaker 5 (30:01):
The goal is to create awareness, preparation, and confidence. The
more prepared you are today, the more choices you're likely
to have tomorrow.

Speaker 2 (30:12):
When we come back, we'll discuss practical steps people can
take right now to maintain independence, preserve quality of life,
and age well into their eighties and beyond.

Speaker 6 (30:21):
Stay with us, We'll be right back.

Speaker 4 (30:27):
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 13 (30:38):
There's nothing like the crew races on the Charles River
when the boats cross the finish line. All the components
must be functioning consistently at exceptional levels. High performance equipment,
mentally tough and physically fit rowers, the passion to win,
and perhaps most importantly, seamlessly integrated teamwork. Likewise, the retirement

(31:02):
rivers we row also require these very qualities. Who's part
of your retirement crew? For more than twenty three years,
the advisors at Kelly Financial Services have helped families in
the Greater Boston area take command of their financial futures.
So call eight eight eight eight hundred and eighteen eighty
one or visit Kellyfinancial dot Org for an appointment at

(31:24):
Kelly Financial. We believe you've got to have the right
team and crew and in retirement, how will you cross
the finish line? He are Kelly Financial Services. Come retire with.

Speaker 4 (31:36):
Us Safe Money Strategies with William Kelly and Kelly Kelly.
Call the team on eight eight hundred, eighteen eighty one.

Speaker 5 (31:51):
Welcome back to Safe Money Strategies. I'm Kelly Kelly alongside
my son William Kelly Junior.

Speaker 3 (32:00):
Or the break.

Speaker 2 (32:00):
We talked about some of the realities many people face
as they move into their eighties and beyond. We discussed
physical changes, caregiving, social connections, and why planning ahead matters.

Speaker 5 (32:11):
And now we'd like to focus on something equally important,
What can people actually do today to maintain their independence
and quality of life as they age.

Speaker 2 (32:23):
Because while none of us can control everything the future
may bring, there are certainly steps we can take to
improve our odds of aging well.

Speaker 5 (32:30):
One of the most important starts with something very simple.

Speaker 6 (32:33):
Keep moving.

Speaker 3 (32:34):
We hear that phrase all the time, but it really
is true.

Speaker 5 (32:37):
It is Movement remains one of the most powerful tools
we have as we age. Walking, stretching, balance exercises, swimming,
strength training. These activities help support mobility, stability, flexibility, and
overall health.

Speaker 2 (32:57):
And it's important for listeners to understand and that consistency
matters more than intensity.

Speaker 5 (33:03):
Absolutely, you don't have to become a marathon runner. Small
daily habits often produce the greatest long term benefits. A
short walk every day, regular strength training, maintaining flexibility, and
staying active can make a tremendous difference over time.

Speaker 3 (33:23):
Physical activity doesn't just support the body either.

Speaker 6 (33:26):
That's right.

Speaker 5 (33:26):
Research continues to show connections between physical activity and cognitive
health as well. Staying active benefits both the body and
the mind.

Speaker 2 (33:38):
Another area many families should think about before they need
to is housing.

Speaker 6 (33:42):
This is a big one.

Speaker 5 (33:43):
Too Often housing decisions are made after a fall, a hospitalization,
or some other unexpected event. At that point, families may
be forced to make decisions quickly and under stress.

Speaker 2 (33:58):
Planning ahead allows people to evaluate their options while they're
still in control of the process exactly.

Speaker 5 (34:04):
For some people, aging in place may be the right choice.
For others, moving closer to family, downsizing, or eventually considering
a senior living community may make more sense.

Speaker 2 (34:17):
And the important thing is understanding the options before decision
becomes urgent.

Speaker 5 (34:22):
And if aging in place is the goal, it may
be wise to evaluate the home itself. Are there stairs
that may become difficult? Our bathroom safe? Is the home
easy to maintain? Small modifications today can often make a
home safer and more comfortable for years to come.

Speaker 2 (34:42):
Housing is important, but another factor that often determines how
successfully people age is their support network.

Speaker 5 (34:48):
Healthy aging is rarely a solo endeavor.

Speaker 3 (34:52):
We all need people we do.

Speaker 5 (34:55):
Families, friends, neighbors, faith, communities, healthcare professionals, and community organizations
can all play important roles. A strong support network provides companionship, encouragement,
practical assistance, and peace of mind.

Speaker 2 (35:15):
And many people discover that asking for help isn't always easy.

Speaker 5 (35:18):
Especially for individuals who have spent their entire lives being independent.
They may worry that accepting help means giving up control.

Speaker 3 (35:28):
But that's not necessarily true, not at all.

Speaker 5 (35:31):
In many situations, accepting help is actually what preserves independence.
A ride to an appointment, assistance with household maintenance, meal preparation,
or medication management may allow someone to remain independent much longer.

Speaker 2 (35:49):
Sometimes accepting help isn't weakness, it's wisdom.

Speaker 5 (35:52):
I think that's exactly right. We often view assistance as
a limitation when we should view it as a tool.
The goal is not to prove we can do everything ourselves.
The goal is to continue living safely and with dignity.

Speaker 2 (36:08):
Another step families can take involves having conversations that many
people would prefer to avoid.

Speaker 6 (36:14):
And that's understandable.

Speaker 5 (36:15):
Conversations about aging, caregiving, future health concerns, and long term
care are not always comfortable.

Speaker 2 (36:24):
But avoiding those conversations doesn't eliminate the need for future decisions.

Speaker 5 (36:28):
In fact, avoiding them can make future decisions more difficult.
When families have honest discussions early, everyone gains a better
understanding of preferences, priorities, and expectations.

Speaker 2 (36:42):
Topics might include where someone would prefer to live, who
would help if assistance became necessary, health care wishes, or
how future care might be handled.

Speaker 5 (36:50):
These conversations are ultimately about preserving dignity and respecting personal choices.
They're not about taking control of way away from someone.
They're about making sure their wishes are understood, and they.

Speaker 2 (37:05):
Often reduce family conflict later because expectations have already been
discussed exactly.

Speaker 5 (37:11):
Uncertainty can create stress, communication often creates clarity.

Speaker 3 (37:17):
Which brings us to our final point today.

Speaker 5 (37:19):
Aging well is rarely the result of luck alone. More often,
it reflects preparation, adaptability, and a willingness to plan ahead.

Speaker 3 (37:30):
None of us knows exactly what the future will.

Speaker 5 (37:32):
Look like, that's true, but we can prepare for possibilities.
We can strengthen our health, build support systems, communicate with
loved ones, and think through decisions before they become urgent.

Speaker 2 (37:46):
Preparation doesn't eliminate uncertainty, No, it doesn't.

Speaker 5 (37:50):
Life always presents unexpected challenges, but preparation can create confidence.
It can provide more options and greater flexibility when decisions
need to be made Kelly Financial.

Speaker 2 (38:05):
We often remind clients that retirement planning isn't just about
accumulating assets or generating income.

Speaker 5 (38:11):
That's certainly important, but retirement planning should also include thinking
about independence, thinking about caregiving, housing, healthcare needs, and quality
of life. Those issues can affect families just as much
as investment decisions.

Speaker 2 (38:29):
And for listeners who would like to explore these topics further,
we have a complimentary guide called You're Looking forward to
Retirement But What if you need long term care?

Speaker 5 (38:37):
The guide addresses many of the questions families face as
they age and can help start important conversations before a
crisis occurs.

Speaker 3 (38:47):
The goal isn't to predict every challenge.

Speaker 5 (38:49):
The goal is to be better prepared to navigate whatever
challenges may come. Aging well isn't about avoiding change. It's
about adapting success as fully as life evolves.

Speaker 3 (39:02):
Preparation, communication, support, and flexibility.

Speaker 5 (39:06):
Those four things can go a long way toward helping
people maintain independence and quality of life for as long
as possible.

Speaker 3 (39:15):
And that's all the time we have for today's discussion.

Speaker 5 (39:18):
More informative content coming your way.

Speaker 4 (39:24):
Safe Money Strategies brought to you by Kelly Financial Services.
Call eight eight eight eight hundred eighteen eighty one or
visit Kelly Financial dot org.

Speaker 3 (39:35):
Welcome back to Safe Money Strategies.

Speaker 9 (39:36):
I'm Mike Ducett, chief operating Officer, alongside Greg Workman, investment advisor.
Before the break, we were discussing the five biggest retirement
mistakes we uncover during a complementary retirement review. We introduced
our case study of Tom and Linda, a couple approaching
retirement who had done many things right. They had accumulated
over one point two million in retirement savings, stayed out

(39:59):
of debt, and felt reasonably confident about their future. Yet
during a review, we identified several areas where improvements could
potentially strengthen their retirement plan. Greg we talked about the
first two mistakes, taking more investment risk than necessary and
having investments but not having a written retirement income plan.

Speaker 3 (40:20):
Let's continue with mistake number three.

Speaker 10 (40:22):
This is one of my favorite topics because it's often
the area where people have the greatest opportunity to improve
their situation. Mistake number three ignoring tax planning. Many retirees
spend years focusing on investment returns but very little time
thinking about taxes. Unfortunately, retirement can bring some unpleasant tax

(40:46):
surprises if you're not prepared.

Speaker 9 (40:49):
And one of the biggest misconceptions we hear is I'll
be in a lower tax bracket when I retire. While
that may be true for some people, it certainly isn't
true for everyone.

Speaker 10 (41:00):
Right many retirees have accumulated substantial balances in traditional.

Speaker 8 (41:05):
Y rays and four to one K plans.

Speaker 10 (41:08):
Every dollar in those accounts has a future tax liability
attached to it. At some point the IRS wants its share.
For Tom and Linda, the majority of their retirement assets
we're sitting inside tax deferred accounts. When we projected their
future required minimum distributions, they were surprised by how much

(41:30):
taxable income those distributions could create later on in retirement.

Speaker 3 (41:34):
And that's where planning becomes so important.

Speaker 9 (41:37):
Rather than waiting until required minimum distributions begin, retirees may
have opportunities to proactively manage the tax.

Speaker 10 (41:44):
Situation absolutely depending upon someone's circumstances. Strategies such as Routh conversions,
careful withdrawal sequencing, and tax diversification can potentially reduce lifetime
tax liabilities. The key is having a plan before the
problem develops. Once large required minimum distributions arrive, your options

(42:10):
may become more limited.

Speaker 9 (42:11):
Another area many retirees overlook is how income impacts Medicare premiums.
Many people are surprised to learn that higher income can
result in higher Medicare costs.

Speaker 8 (42:22):
That's right.

Speaker 10 (42:23):
A retiree might think that they're making a smart financial move,
only to discover that they've unintentionally increased their Medicare premiums
or pushed themselves into.

Speaker 8 (42:35):
A higher tax bracket.

Speaker 10 (42:37):
Again, this doesn't mean the strategy is wrong. It simply
means that these decisions should be coordinated as an overall
part of the plan.

Speaker 9 (42:46):
That's one of the reasons we often say investment planning
and tax planning shouldn't operate in separate silos.

Speaker 3 (42:53):
The two are closely connected.

Speaker 8 (42:55):
Very much so.

Speaker 10 (42:57):
A good retirement plan doesn't just ask how much money
you've accumulated, It asks how much of that money you
actually get to keep.

Speaker 3 (43:06):
Let's move to mistake number four.

Speaker 10 (43:08):
Mistake number four underestimating healthcare and long term care costs.
This is one of the biggest unknowns in retirement planning.
Most people understand that they'll have health care expenses throughout retirement.

Speaker 8 (43:23):
What they don't always appreciate is how significant those.

Speaker 10 (43:27):
Costs can become over a twenty or thirty year span.

Speaker 9 (43:31):
Especially as life expectancy continues to increase. Many retirees today
may spend decades in retirement.

Speaker 8 (43:38):
That's right.

Speaker 10 (43:39):
The good news is people are living longer. The challenge
is that longer life often brings additional health care expenses.
For Tom and Linda, healthcare planning wasn't something they had
spent much time discussing. They knew they would eventually enroll
in Medicare, but they had not considered how healthcare costs

(44:00):
might impact their overall retirement budget.

Speaker 9 (44:03):
And healthcare expenses don't necessarily arrive all at once. Sometimes
it's a gradual increase over many years.

Speaker 8 (44:10):
That's right.

Speaker 10 (44:10):
Prescription costs, dental care, vision care, hearing aids, out of
pocket expenses, those all add up over time. Then there's
the possibility that one spouse may eventually require some.

Speaker 8 (44:23):
Form of long term care assistance.

Speaker 10 (44:26):
Now none of us knows whether that will happen, but
it's important to have a conversation about how that risk
would be addressed if it did.

Speaker 9 (44:34):
One thing we've learned over the years is that retirement
planning isn't about predicting the future. It's about preparing for possibilities.
That's a great way to put it.

Speaker 10 (44:42):
We don't know what challenges someone will face twenty years
from now. What we can do is build flexibility into
a plan and discuss how various scenarios might affect retirement
income and assets.

Speaker 3 (44:55):
That brings us to our fifth and final mistake.

Speaker 10 (44:57):
Mistake number five outdated estate planning and beneficiary designations. This
one surprises people because they often assume that once they've
completed their estate documents, they are finished. Unfortunately, life does
not stand still. Families change assets, change tax laws, change
retirement accounts grow over time. Yet many estate plans sit

(45:22):
untouched for ten or fifteen years.

Speaker 9 (45:25):
We've seen situations where beneficiaries were never updated after major
life events. We've seen trusts that no longer reflect the
family's goals.

Speaker 3 (45:33):
We've seen powers of attorney that haven't been reviewed in years.

Speaker 10 (45:36):
That's right, and in many cases, the issue isn't that
someone failed to do planning. The issue is that they
haven't revisited the planning they completed years ago. For Tom
and Linda, their estate documents had been prepared quite some
time ago. Nothing was technically wrong, but several updates could
help ensure their wishes would be carried out more efficiently.

Speaker 9 (46:00):
I find interesting, greg is that none of these five
mistakes involved reckless behavior. Tom and Linda weren't making poor
financial decisions. They weren't overspending, they weren't taking extraordinary risks.

Speaker 8 (46:11):
That's a great observation.

Speaker 10 (46:13):
In fact, that's true for most of the people who
come through our doors. They're hard working savers who have
done many things right. The challenge is that retirement planning
has become increasingly complex. There are simply too many moving
parts for most people to evaluate.

Speaker 9 (46:29):
On their own, and that's exactly why we offer a
complementary retirement review. Sometimes the outcome is confirmation that you
are already on the right track. Other times we identify
opportunities to strengthen your plan. Either way, the goal is
to provide clarity in confidence, and.

Speaker 8 (46:45):
That's what people are really looking for. They want to know,
am I taking the right amount of risk?

Speaker 10 (46:50):
Do I have a reliable income plan?

Speaker 8 (46:53):
Am I being tax efficient? Have I prepared for healthcare costs?
Is my estate plan up to as individual needs and
circumstances will vary.

Speaker 10 (47:03):
Those are important questions and they deserve thoughtful answers.

Speaker 9 (47:09):
If you'd like a second opinion on your retirement plan,
or if you'd like to learn more about our Safe
Money Strategies process, we'd be happy to help. During the process,
we'll take a comprehensive look at your financial pitchure, including
your investments, retirement income strategy, taxes, risk management and estate
planning considerations.

Speaker 10 (47:26):
And if you're not quite ready for a meeting, be
sure to request your complementary Safe Money Strategies workbook. It
is a great educational resource that can help you better
understand the many moving parts involved in retirement planning and
identify the questions that you may want to explore further.

Speaker 9 (47:45):
As always, we'd also love to hear from our listeners.
Over the past several months, we've covered topics including social
security claiming strategies, required minimum distributions, retirement income planning, tax
efficient retirement strategies, market volatility, and now the value of
a complimentary retirement review.

Speaker 3 (48:03):
If there's a retirement topic you'd.

Speaker 9 (48:05):
Like us to discuss on a future show, let us know.

Speaker 10 (48:07):
We're always looking for ways to provide information that's timely,
relevant and helpful to retirees and those approaching retirement.

Speaker 9 (48:17):
For Greg Workman, I'm Mike du said, thank you for
spending part of your weekend with us. We'll see you
next time on safe money strategies.

Speaker 7 (48:28):
Joining us now as she always does at this time.

Speaker 8 (48:33):
She is the.

Speaker 7 (48:34):
Co founder, CEO, and president of Kelly Financial Services, and yes,
that is her wonderful name, Kelly, Kelly Kelly, how are you.

Speaker 6 (48:49):
Good morning, Jeff? I am good.

Speaker 5 (48:52):
You know, people are living longer than ever before, and
there's certainly something to celebrate, but living longer can also
bring challenges that many families are not prepared to discuss.
Mobility issues, memory concerns, caregiving responsibilities, housing decisions. The reality

(49:12):
is that most people spend years preparing for retirement, but
very little time preparing for aging itself. That is why
we have made available our Complementary Investor Guide. You are
looking forward to retirement, but what if you need long
term care? It helps families better understand care options, the

(49:34):
impact of caregiving, and why having these conversations early can
make such a difference. At Kelly Financial our advisors help
people prepare for the realities that can come with longer lives.
To request your complementary copy, give us a call or
email us at Kelly at Kellyfinancial dot org. Jeff, have

(49:56):
a wonderful weekend. My best of Grace and the kiddos.

Speaker 7 (50:00):
Thank you, Kelly, all the best to you and everyone
at Kelly Financial to get a free copy of that guide,
and I urge all of you if you can do
get it call now eight eight eight eight hundred, eighteen
eighty one eight eighty eight eight hundred eighteen eighty one,
or you can actually email Kelly herself personally Kelly Kellyfinancial

(50:22):
dot org. That's Kelly Kelly Financial dot org.

Speaker 4 (50:33):
Safe Money Strategies at eight eight hundred one, eight eight one.

Speaker 5 (50:41):
Before we wrap up today's program, it's time for another
edition of the Wit and Wisdom of Bill Kelly. This week,
Bill takes us on a journey through generations, reminding us
of the sacrifices, values, and common sense that help build
this country and why staying focused on discipline, planning, and

(51:05):
simplicity may be just as important today as ever.

Speaker 6 (51:09):
Here's Bill Kelly.

Speaker 14 (51:14):
Some of you can remember the Korean War, maybe some
of you might be able to remember back to the
World War Two.

Speaker 3 (51:21):
Some of you can.

Speaker 14 (51:22):
Remember your parents, coming home or telling you about being
in those wars. Grandparents went through the depression. It's an
amazing cycle we have here in this country. History might
not repeat itself, but it certainly rhymes, and we have
to be very cognizant of that. We chose capitalism, and
we chose liberty, and we chose republican representative form of government.

(51:45):
So we're just different than other people. But going through
those times, what has the government asked of you? As
you went through college, bought your first home, some of
you might have been drafted into the military, some of
you might have joined. You're paying off the house you're buying.
The first automobile, mind, cost seventy five bucks. It was
a nineteen fifty seven DKW, which was the forerunner to

(52:07):
the Volkswagen Beetle. I kept my transmission together with a
coad Hager wire. That was my linkage ladies and gentlemen.
I put five gallons of gas and one court of
oil into the gas tank when I put the gas in,
So we paid the price, didn't we? Seventy five dollars
now doesn't fill my car up with gas anymore. So
we paid the price. The government has asked us for taxes,

(52:31):
and we have responded. The government has asked us to
volunteer for certain things. The government has asked us to help,
and we've done it over and over again. Why that's
the way Americans are wired. Give us a cause and
we'll be right there with our core values intact helping
people out. I think we enjoy that. I think we're

(52:52):
proud of being that way in America. We're a little
bit spunky. But all the while you're doing more, you
were doing something extra. If you've developed influence. What is affluence, Well,
it means you have more money than you need to live.
When you've done feeding yourself and your family, when you
finish paying for your automobile and clothing and things like that,
you have something extra. So you need maybe some guidance

(53:13):
with what to do with what you have saved, what
you have attained, and what you wish to maintain. That's
why you need a professional. At the end of the day,
most of you want to make progress, but as we
get to the age of fifty five, sixty five, seventy five,
we want to maintain and some of us, as we
approach our fifties, want to get in those final few

(53:33):
years of harvesting, and I think that's important. But fear,
hope and greed won't do it, ladies and gentlemen. And
if that's what someone's using to get you to invest
in some type of product, then fear, hope and greed's
going to rule the roost. If you come in fear based,
you're going to be controlled. Fear based. It could be
a fear of missing a gain, it could be fear
of a loss, it could be any type of fear,

(53:55):
fear that you're going to be left out.

Speaker 3 (53:57):
Greed.

Speaker 14 (53:58):
We know you're going to miss an upturn. Ooh want
to get in there fast. So prognostication can usually lead
to problems. Prediction as to what's going to happen. That's
not the way to be successful. Being at the right
place at the right time is always great. But in
order to do that, a little bit of prior planning
and proper prior planning PPP will get you where you

(54:19):
want to be. Hopefully, So you have to stay away
from fear, stay away from greed. Hope is good for
your children and grandchildren. You don't want to be hoping
that the market's going to turn around in order for
your portfolio to be healed if you have a two
hundred paid statement in the mail. First of all, it
took about two trees to make that statement. Second of all,

(54:39):
you've got too big a statement. And you say, well,
I've got three and a half million dollars. You still
you don't need a three hundred paid statement for three
million dollars. You don't need to have one hundred pages
for every million. Ladies and gentlemen. You need simplification. Simplification
says to you you're using an arrow to hit your target.
You're not using a shotgun over your shoulder back woulds

(55:00):
blindfolded in one eye and just firing away. You need
targeted investments. The fear, hope, and greed, I think destroys lives.
Not only does it wreck portfolios and relationships, it can
ruin lives. So be very careful. If someone's telling you
we're in the next bull market, that's bull. If they're

(55:21):
telling you to buy bye bye, tell them bye bye.
Be very careful. The market has an affinity for going
down faster than it goes up. It has an affinity
to retrace to seventy five hundred, and it's been doing
it since nineteen ninety eight. The J curve shows the
most activity at the top and then it shows a

(55:43):
steady decline. When you do that graph in the stock market,
it might be thought of like a J curve At times.
The furious volume that drives the market down suddenly after
a huge uptick, after several months or several years of growth,
the volume that drives it down is magnific. It's unbelievable.
Remember what Bernard Baruch said, I made all of my

(56:05):
money by selling too soon. It should feel a little
bit like you're selling too soon, and then it's about right.
In my opinion. It's only one man's opinion. Eight eight
eight eight hundred and one eight eight one.

Speaker 4 (56:20):
We'll call Kelly Financial Services eight eight eight eight hundred
eighteen eighty one.

Speaker 6 (56:26):
I'm Kelly Kelly from Kelly Financial. Whether you're in your.

Speaker 5 (56:29):
Sixties, seventies, or eighties, financial advice is important when it
comes to preserving your nest egg. We have a free
investor guide called designing your Fiscal House to Weather the Elements,
which highlights the steps needed to build a balanced portfolio.
For the guide, call eight eight eight eight hundred eighteen
eighty one or email Kelly at Kellyfinancial dot org.

Speaker 6 (56:53):
We're Kelly Financial.

Speaker 4 (56:54):
Come Retire with Us, Save Money Strategies with William Kelly
and Kelly ke Go to Kelly Financial dot org.

Speaker 15 (57:08):
All opinions expressed by the host, guests, or employees of
Kelly Financial Services are their own and do not necessarily
reflect the views of Kelly Financial Services as affirm. Information
discussed on this program is believed to be from sources
considered reliable. However, its accuracy and completeness cannot be guaranteed.
The content provided is for general educational purposes only and
is not intended to be, nor should it be relied
upon as individualized investment, tax or legal advice. All investing
involves risk, including the potential loss of principle. Any strategies

(57:30):
discussed are designed to help support financial planning goals, but
individual needs, objectives, and circumstances will vary, and strategies may
not be suitable for every person. You should always consult
with a qualified financial professional regarding your specific situation before
making any financial decisions.