Kelly Financial: Saturday, June 6, 2026

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Episode Transcript

Speaker 1 (00:12):
It's coming to us, 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 and practical advice.
Kelly Financial was founded in two thousand and three by
my parents, my late father Bill Kelly and my mother
Kelly Kelly in Braintree and Burlington, Massachusetts. Just two years later,

(00:41):
Dad launched Safe Money Strategies on WRKO as a no
nonsense Colin radio show focused on common sense planning and
protecting wealth. Over the past 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

(01:03):
insight and empowerment. Here at Kelly Financial, we help steward
over eight hundred million dollars across our affiliated business, including
more than six hundred million dollars managed by our sec
registered investment advisory, where 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,

(01:27):
Mike Ducett, Greg Workman, Greg Murray, my sister Mary, Madeline,
Tom Schleger, and Josh Smith. 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 eighty eight

(01:49):
eight eight hundred one eight eight one. This is Safe
Money Strategies. Next up Forever Young with Kelly Kelly and
myself William Kelly Junior.

Speaker 3 (02:02):
Safe Money Strategies with William Kelly and Kelly Kelly eight
hundred eighteen eighty one.

Speaker 4 (02:13):
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 the part of the show we call Forever Young
where I sit down with my handsome son, William Kelly Junior,
and we talk about life, what's going on in the world,

(02:34):
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 5 (02:43):
Good morning William.

Speaker 1 (02:44):
Good morning Mom. How are you.

Speaker 5 (02:46):
I'm doing great. How about yourself.

Speaker 2 (02:48):
I've been doing fantastic. I'm still studying for the series
sixty five. I should be taking that in late June
or early July. Very good, and then I will be
a registered investment advisor.

Speaker 5 (03:00):
So I'm as exciting.

Speaker 1 (03:01):
It is exciting.

Speaker 2 (03:02):
I can't wait to finally, you know, work in the
industry and actually put my skills to use and helping
other people.

Speaker 1 (03:10):
I really look forward to that.

Speaker 2 (03:12):
But obviously I got to buckle down and keep focusing
on the test and it's been going really well. There's
a lot of great resources out there. It's certainly gotten
more difficult over the years, and I say it's probably
a more positive thing than a negative thing.

Speaker 1 (03:24):
Yeah, I'm excited. We'll see what happens.

Speaker 2 (03:27):
But today I want to talk a little bit about
my book, Only the Good invest Young. We spoke a
little bit more about it last week, and we pretty
much just covered essentially what it primarily focuses on. But
I want to focus on some actual content in the book.

Speaker 1 (03:46):
So for those of you who are not familiar with.

Speaker 2 (03:49):
My book, Only to Good invest Young was written with
the intent to be given to people aged eighteen to
twenty eight. That's the ideal reader that we're looking for,
or that I'm looking for. And the main reason I
it was because I feel as though people my age,
or in my age group, or who are just young
in the eyes of the market, don't really have enough education.

(04:09):
We weren't taught anything in school that was particularly useful
in regards to investments. We weren't given a baseline education. Essentially,
all the basic information that you would need to know
to invest. It's either learned because you're in the industry
or you learn by yourself. But there's no certain guide
book that's necessarily a entertaining b that isn't just a

(04:32):
textbook or a manual, and C is pretty clear for
you to learn how to manage the investment world and
how to grow your money.

Speaker 1 (04:42):
So that was my mission. I didn't want to make
it boring.

Speaker 2 (04:46):
I wanted it to be sort of interactive and more
like a conversation.

Speaker 1 (04:50):
And I didn't want it to be bold. I didn't
want it to be full of jargon. I didn't want.

Speaker 2 (04:55):
It to be a boring book that was the main
goal was to help people and to do so effectively.
So I open up the book with a story of Chance,
and I pulled story of Chance from John C. Bogel's
Common Sense on Mutual Funds, which is a very good book,
and I kind of paraphrase to my own words. I
want to make it my own twist, but roughly follows

(05:15):
the same. So Chance is a gardener and a very
very wealthy estate, a giant mansion. He's been a gardener
there essentially his entire life.

Speaker 1 (05:24):
It's all he's ever known.

Speaker 2 (05:26):
And he's almost intellectually handicapped in that respect, where he's
had no influence in the outside world, no education. He
speaks basic English, that's about it. And Chance is tending
to this garden, and all of a sudden, the owner
of the estate, the very wealthy owner of the estate,
passes away, and so another businessman comes in buys the estate,

(05:47):
and Chance all of a sudden as a new boss.
And this man is a little different, and him and
Chance have conversations and he talks a little bit about
his work, and Chance respond with analogies of his garden,
which the businessman finds prophetic because he's you know, he's
a very high ranking CEO. Once you get into that level,

(06:09):
you know, it's less about the numbers and more about
the ideas. And so the businessman is just enamored by
Chance and says, why don't you come and advise my company?

Speaker 1 (06:18):
And Chances okay, sure thing.

Speaker 2 (06:20):
And so the businessman brings them and the people love
him at the company and he does a fantastic job.
But one day there's a huge emergency. This company is
an investment company, and the market is doing terrible. Everything
seems like it's going to collapse, like the foreseeable future,
like like death is imminent for this company, and everybody's

(06:44):
freaking out, and Chance just goes ahead and says everything's
gonna be all right. And everybody's stunned.

Speaker 1 (06:50):
They're silent.

Speaker 2 (06:51):
They said, how could you say that everything's going downhill?
We're trying to sell all our positions. We're trying to
get back, get by with as much cash as possible,
and Chand says, well, the market, I've noticed works a
lot like my garden. He said, I'll have some plants
and flowers and they look beautiful. You ever notice how
a plant looks beautiful, especially during the spring and summertime,

(07:13):
and they all go, yes, yes, it does. But don't
you notice that in the winter it looks like destruction
and death, looks like everything is withered away, And they say, yes,
he said, the market is very similar to my garden,
where although the plants might produce something bountiful and beautiful,
it won't always be that way. As long as the

(07:33):
roots are intact, it will always grow back. And so
before they sold all their positions, the investment company decided
to keep all their positions and convince their clients that
everything's going.

Speaker 1 (07:44):
To be okay.

Speaker 2 (07:45):
And they made it out, but their competitors did not,
because they all panicked when things went sout. And so
the story of Chance was about being strong and staying
prudent in the market and having the fortitude to realize
that things will go up and things will go down,
and things will cycle. And that is probably the number

(08:06):
one rule that I wanted to open the book up
with for young investors, is to understand that life will
have up and downs. And you'll see it really popularly
in my generation. Everybody wants to day trade. Everybody wants
to make profit immediately. They want what's attractive and honestly,
don't even waste your time. If you want to dabble
and you have the money, that's your choice. But the

(08:28):
downside is that if nothing can stay and grow, it's
not going to become this tree. Because trees, when you
plant a tree, it doesn't become a tree in ten days,
in a year, in five years. It becomes a proper
tree in about ten years and then twenty and thirty
and it keeps growing and then maybe some apples will
come out of it. So that's the biggest rule I

(08:49):
wanted to hammer down was have the fortitude and have
the mental patience and the mental awareness of as long
as the market has its roots, everything is going to
be okay.

Speaker 1 (09:01):
So that was the story of Chance, and that's how
I opened the book.

Speaker 5 (09:04):
I love it.

Speaker 2 (09:05):
There are more stories in there, and I can talk
way more about it in our next segment Good. So
if you'd like me to speak more, stay tuned, and
I'm sure next week we'll be talking about it a
little bit more. And if you're interested in the copy,
you can find it on Amazon, or you can give
us a call and we will supply you with a copy.

Speaker 5 (09:24):
We will do just that.

Speaker 4 (09:25):
Do keep us on your dial. We've got a lot
of great content coming your way. Mike do Set and
Greg Workman. We'll discuss the value of a retirement review,
why many investors seek a second opinion, and how a
written retirement strategy may help bring greater clarity and confidence
to your financial future. Mary, Madeline Kelly and Greg Murray

(09:47):
will share practical insights on helping children and grandchildren financially
without sacrificing their own retirement security. When William and I returned,
we'll talk about practical mid year retirement checkups and why
small adjustments now may help you feel more confident heading
into the second half of the year. And of course

(10:10):
we'll close the hour with some wit and wisdom from
the late Bill Kelly. 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. We'll
be back with more great content.

Speaker 5 (10:26):
I love you, Honey, I.

Speaker 1 (10:27):
Love you too.

Speaker 6 (10:36):
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 gonna 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. A fifty five plus

(10:57):
community could be a great fit, but it comes with rules.
Moving in with 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

(11:18):
investor guide. It's called your Retirement Income Planning Checklist. It
covers every key considerations, every key decision that you need
to make so you can be informed. To request it,
call eight eight eight eight hundred and eighteen eighty one
or email Kelly at Kellyfinancial dot org.

Speaker 7 (11:40):
Welcome back to Save Money Strategies with Mike Ducett and
Greg Workman. I'm Mike Ducett, chief operating officer at Kelly
Financial Services.

Speaker 8 (11:47):
And I'm Greg Workman, investment advisor representative with Kelly Financial.
Thanks for spending part of your weekend with us.

Speaker 7 (11:55):
Last week we talked about a really important question, is
your retirement plan still on tree? We discussed how markets change,
tax laws evolve, inflation sticks around longer than expected, and
life itself can throw curveballs.

Speaker 8 (12:08):
Exactly and what we found is that many people build
a retirement plan years ago but haven't really revisited it,
or they have investments but no actual roadmap tying everything together.

Speaker 7 (12:21):
That's what we wanted to take today's conversation because after
people heard last week's show, the natural question becomes, Okay,
what should I actually do next?

Speaker 8 (12:30):
And for us, the answer starts with something simple, a
complementary review.

Speaker 7 (12:34):
Now, Greg, when people hear complimentary review, I think some
immediately assume it's just a quick sales pitch.

Speaker 8 (12:41):
Right, and honestly, that's not how we operate at Kelly Financial.
We've built our safe money strategies process around education, planning
and analysis. First, we believe that if we do good
work and provide value the right people naturally decide to
become clients over time.

Speaker 7 (13:00):
And because of that, there's no pressure attached to the process.
We're comfortable taking the time to really understand someone's situation.

Speaker 8 (13:07):
That's a big point. We're not rushing to a sale.
We're trying to determine whether someone's retirement plan truly lines
up with their goals and intentions.

Speaker 7 (13:17):
And Greg, one thing I think is important for listeners
to understand is that there are really two ways people
can engage with.

Speaker 8 (13:23):
Us exactly Option one, and what we highly recommend is
going through the full Safe Money Strategies planning process. That's
where we really dive into the entire financial picture. We
look at assets, liabilities, income sources, spending, habits, cash flow, taxes,

(13:45):
investment allocation.

Speaker 2 (13:47):
Everything, and that's where the real planning happens.

Speaker 8 (13:50):
Correct because retirement isn't just about investments. It's about whether
your money can realistically support your lifestyle over the next
twenty or thirty years. People want answers to questions like
am I going to be okay financially? Am I taking
too much risk? Could I potentially run out of money

(14:10):
too early? When should I claim Social Security? How do
I reduce taxes in retirement? Or which accounts should I
withdraw from first? Those are planning questions, and that's something
many people are missing. They may have investment statements, but
they don't necessarily have a written retirement plan exactly, and

(14:31):
our process is designed to help provide clarity around those issues. Now,
every family is different, but generally speaking, by the end
of the process, often after about three meetings, clients walk
away with a written retirement strategy along with an investment
analysis and recommendations if we believe improvements can.

Speaker 2 (14:54):
Be made great.

Speaker 7 (14:56):
I think it's important to remind listeners that this process
is complementary.

Speaker 8 (15:00):
It is no obligation, no pressure. We're comfortable investing the
time because we've been following this process for years and
we believe in the work we do. Some people ultimately
decide to work with us, Others don't, and that's okay.
We'll still put our best foot forward and provide our.

Speaker 7 (15:20):
Findings, and honestly, I think people appreciate that approach because
retirement planning can feel intimidating a lot of folks worry
that the second they sit down with an advisor they're
going to get pushed into products or pressure to move
accounts immediately.

Speaker 8 (15:34):
We hear that all the time, and that's one reason
our planning first philosophy matters so much, because before discussing recommendations,
we want to understand the person sitting across the table
from us. What are their goals, what are their concerns,
what keeps them up at night financially?

Speaker 7 (15:55):
And once that planning phase is complete, that's when you
move into what we call phase two.

Speaker 2 (16:00):
Do the investment analysis.

Speaker 8 (16:02):
Correct and This is another complementary part of the process.
We'll review current investments and analyze how the portfolio is structured. Now, obviously,
past performance doesn't guarantee future results, but reviewing historical performance
can still be useful because it allows us to compare

(16:22):
returns against relevant benchmarks and evaluate whether the portfolio is
performing the way the client expects.

Speaker 2 (16:29):
And performance is only one piece of the puzzle exactly.

Speaker 8 (16:32):
We also look at risk. How much volatility is someone
taking on to pursue their return profile that they have
in place. Sometimes people are shocked to discover that their
portfolio is far more aggressive than they realized. Other times
we see the opposite, investors sitting too conservatively and potentially

(16:53):
losing purchasing power over time because inflation erodes the value
of their savings.

Speaker 2 (17:00):
And another major area is fees.

Speaker 8 (17:02):
Absolutely, you'd be surprised how many investors don't fully understand
what they're paying. Are they paying commissions on transactions? Are
they in a fee based advisory relationship? Is there a
percentage fee on the investment account year in year out?
Are there internal fund expenses layered in? Those details matter,

(17:24):
and many people simply haven't had someone walk them through
the full picture clearly.

Speaker 7 (17:30):
And again this isn't necessarily about criticizing another advisor.

Speaker 8 (17:34):
Not at all. Different advisors operate differently. Our goal is
to simply help people understand what they own, how it works,
what it costs, and whether it aligns with their retirement goals.

Speaker 7 (17:48):
Now, greg, before we had to break, let's touch on
the second way people sometimes work with us, because not
everyone starts with the full planning process.

Speaker 8 (17:56):
That's true. Some people are mainly concerned about their current
investments or market volatility. Maybe they're nervous about the economy,
maybe they recently experienced losses, maybe they simply want a
second opinion on their allocation. In those situations, we can
jump directly into the investment analysis portion first and that's

(18:17):
perfectly fine. And then later if they want to circle
back and complete the broader retirement planning process, we can
do that too.

Speaker 2 (18:25):
So the keyword is flexibility.

Speaker 8 (18:27):
We're flexible, but we still strongly encourage comprehensive planning because
that's where we can often provide the most value.

Speaker 7 (18:36):
Coming up after the break, we'll discuss some of the
biggest reasons people decide to change financial advisors and some
of the frustrations we hear most often from retirees and
pre retirees.

Speaker 2 (18:47):
Stay with us.

Speaker 3 (18:52):
Kelly Financial Services eight hundred, eighteen eighty one.

Speaker 4 (18:58):
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 and

(19:20):
eighteen eighty one or email Kelly at Kellyfinancial dot org.

Speaker 5 (19:24):
We're Kelly Financial. Come retire with.

Speaker 3 (19:27):
Us The Money Wrap with Kelly Financial Advisors. Greg Murray
and Mary Madeline Kelly.

Speaker 2 (19:35):
Good morning.

Speaker 9 (19:36):
This is Greg Murray, Senior vice president and Chief Compliance
Officer at Kelly Financial Services. Joining me today is Mary
Madeline Kelly. What are our wealth advisors? How are you
doing today?

Speaker 2 (19:45):
Hi?

Speaker 10 (19:45):
Greg? I am doing great. Today is a very special day,
so I do have to let our listeners know that
it is.

Speaker 2 (19:52):
Your birthday today.

Speaker 10 (19:54):
Happy birthday, Greg, how are you celebrating?

Speaker 2 (19:56):
Thank you?

Speaker 9 (19:57):
And that is a great question. Last week I went
on in the last Adventures, So for my birthday weekend.
My plan is to play some golf and relax. Nothing
too crazy.

Speaker 10 (20:05):
That sounds like a pretty great birthday weekend to me. Golf,
good weather and some relaxation after Alaska sounds well deserved.
And speaking of the people and things we care about most,
today's topic is one that a lot of parents and
grandparents can relate to.

Speaker 11 (20:19):
That's right.

Speaker 9 (20:20):
Today we're talking about how to help your kids financially
without hurting your own retirement and.

Speaker 10 (20:24):
I think this is becoming more relevant every year. Housing
is expensive, education costs are high, and many young adults
are facing financial challenges that previous generations may not have
experienced to the same degree.

Speaker 9 (20:37):
So naturally many parents want to step in and.

Speaker 10 (20:39):
Help exactly, and there is absolutely nothing wrong with helping
your children financially if you're in a position to do so.
The key is making sure that help is sustainable and
does not jeopardize your own long term security.

Speaker 9 (20:51):
Because one of the biggest mistakes we see is parents
sacrificing their retirement plans in order to support adult children.

Speaker 10 (20:57):
Yes, and while it comes from a place of love,
it can create problems down the road. There's an old
saying in financial planning Your child can borrow for college,
but you can't borrow for your retirement.

Speaker 9 (21:07):
That's a great point. Retirement is one of the few
financial goals where there really aren't many backup options if
you fall behind.

Speaker 10 (21:13):
Exactly, you can finance a house, you can finance an education,
but there's no retirement loan waiting for you when you're
seventy five years old.

Speaker 9 (21:21):
So where should people start if they want to help
their children financially?

Speaker 10 (21:24):
The first step is making sure your own foundation is
solid before writing checks to help others. Ask yourself, am
I saving enough for retirement? Do I have adequate emergency reserves?
Is my long term plan still on track?

Speaker 9 (21:35):
Because helping you others shouldn't come at the expense of
your own future.

Speaker 10 (21:38):
Once that foundation is in place, then you can think
about how to help in ways that are meaningful and sustainable.

Speaker 12 (21:44):
And sometimes help doesn't necessarily mean giving money. That's such
an important point. Financial help can come in many forms.

Speaker 10 (21:50):
It might be helping your child create a budget, teaching
them about investing, reviewing a job offer, or helping them
understand a mortgage.

Speaker 9 (21:58):
Sometimes knowledge can be just as valuable as money.

Speaker 5 (22:01):
Absolutely.

Speaker 10 (22:02):
In fact, teaching good financial habits may have a longer
lasting impact than simply solving a short term financial problem.

Speaker 9 (22:08):
Another thing we see is parents want to help with
major milestones, things like a first home, a wedding, or
education expenses.

Speaker 10 (22:15):
And those can be wonderful opportunities to help if they're
a part of a broader financial plan. The key is
understanding the impact before making a commitment.

Speaker 9 (22:23):
Because what feels like a manageable gift today could have
implications for retirement income years from them exactly.

Speaker 10 (22:29):
We encourage clients to look at these decisions through both lenses.
How does this help my child today and how does
it affect my future self?

Speaker 9 (22:36):
I love if the challenge can arise when financial support
becomes ongoing rather than occasional.

Speaker 5 (22:41):
Yes.

Speaker 10 (22:41):
Temporary assistance is one thing, long term dependency is another.
Sometimes parents find themselves covering expenses for adult children for
years without realizing how much it's affecting their own finances.

Speaker 9 (22:54):
In those situations can become difficult emotionally because family and
money are rarely separate.

Speaker 10 (22:59):
Very true, which is why clear expectations and healthy boundaries
are important. Helping doesn't necessarily mean saying yes to every request.

Speaker 9 (23:07):
In fact, sometimes the most helpful thing a parent can
do is encourage financial independence.

Speaker 10 (23:12):
The goal is to help your children become financially capable,
not financially dependent.

Speaker 9 (23:16):
And for grand parents, we often see similar questions about
helping grandchildren.

Speaker 10 (23:20):
Absolutely, whether it's contributing toward education, helping start an investment account,
or leaving a legacy, there are many thoughtful ways to
help future generations while still protecting your own financial security.

Speaker 9 (23:31):
And as always, every family situation is different, right.

Speaker 10 (23:34):
There isn't one correct answer. Some families can afford substantial gifts,
others may need to prioritize their own retirement needs first.

Speaker 12 (23:41):
What's important is helping the trade offs, and of course
investing involves risk, including the potential loss of principle, and
financial decisions should always be made in the context of
your overall financial plan.

Speaker 2 (23:52):
But the key takeaway is simple.

Speaker 10 (23:53):
Helping your children financially is a wonderful goal, but your
retirement needs matter too. The strongest position to be is
one where you can support your family without creating future
financial stress for yourself.

Speaker 9 (24:05):
Because ultimately, one of the greatest gifts you can give
your children is not becoming financially dependent on them later
in life.

Speaker 10 (24:11):
Exactly, financial independence can be a gift that goes both ways.

Speaker 9 (24:15):
Well said, that's going to wrap things up for today.
If you'd like help balancing family goals with retirement planning,
give us a call. We'd be happy to help you
evaluate your options and create a plan that works for everyone.

Speaker 10 (24:24):
Absolutely well, Greg, happy birthday again and enjoy being celebrated.

Speaker 1 (24:29):
Thank you.

Speaker 3 (24:30):
To get in touch with Greg Murray or Mary, Madeline
Kelly or any member of the Kelly Financial team call
aighta eight eight hundred, eighteen eighty one. Safe Money Strategies
with William Kelly and Kelly Kelly call the team on
eight eight eight hundred, eighteen eighty one.

Speaker 4 (24:51):
Thank care, Welcome back to Safe Money Strategies. I'm Kelly
Kelly here as always with William Calai Junior, and this
morning we're asking a question I think every retiree in
pre retiree should sit with for a moment.

Speaker 5 (25:10):
Are you still on track?

Speaker 4 (25:12):
In twenty twenty six, we're nearly halfway through the year,
and that makes this the perfect time for an honest
check in.

Speaker 2 (25:21):
It really does, Mom and all men. When people hear
in mid year review, some of them assume that's only
for folks who are behind, But that's not how you
think about it, is it not at all?

Speaker 4 (25:32):
William A mid year review isn't a report card. It's
a chance to pause and ask, am I still doing
the things I said I would do back in January.
Most people start the year motivated and organized. Then everyday
life takes over. In financial habits drift quietly without anyone noticing.

Speaker 2 (25:55):
That word quietly stands out to me because I think
a lot of people picture going off track as one big,
dramatic event.

Speaker 4 (26:01):
And it rarely is. The truth is, retirement readiness isn't
just about your investments. It's about your spending habits, your organization,
your health care preparation, and your lifestyle decisions. Many small
issues become major problems simply because they go unchecked for

(26:23):
too long. The earlier you spot a gap, the easier
it is to correct.

Speaker 2 (26:29):
I've always liked the way you put it. Retirement confidence
doesn't come from hoping things work out. It comes from
paying attention exactly.

Speaker 4 (26:38):
And one of the places people quietly drift off track
is there everyday spending.

Speaker 2 (26:45):
Let's talk about that. What does that drift actually look like?

Speaker 4 (26:48):
It's what many people call lifestyle creep inflation and rising
costs happen gradually, so it's genuinely difficult to notice how
much more spending than you were a year or two ago.
Dining out a little more often, a few extra subscriptions,
some travel, home projects, helping children or grandchildren. Individually, none

(27:14):
of it feels significant, but it adds up. It adds up.
And here's the part that surprises people. Many retirees assume
they're spending will naturally decline once they stop working, but
retirement often creates more free time, and more free time
can mean more opportunities to spend. It's rarely one gigantic

(27:36):
purchase that throws someone off track. Usually is the slow
accumulation of everyday spending.

Speaker 2 (27:44):
So am in your review reconnects those daily decisions to
a bigger picture.

Speaker 4 (27:48):
That's the goal, not guilt, just awareness. And while spending
is important, healthcare is another area where many retirees underestimate
what lies ahead.

Speaker 2 (27:59):
This is and I hear about constantly. People assume Medicare
simply covers everything.

Speaker 4 (28:04):
That's one of the most common misunderstandings we see. Even
with Medicare, retirees still face premiums, copays, deductibles, prescription costs
and services that simply aren't covered, and health care inflation
has tended to rise faster than general inflation, which increases
the pressure over time.

Speaker 2 (28:26):
I know Fidelity publishes an estimate on this every year
they do.

Speaker 4 (28:29):
According to Fidelity's research, the average retired couple may need
a substantial sum, often estimated in the hundreds of thousands
of dollars, to cover health care costs over the course
of retirement. Now, every situation is different, and that's only
an estimate, but it tells you why this area deserves

(28:51):
real attention rather than avoidance.

Speaker 2 (28:54):
And I think avoidance is the key word. These aren't
comfortable topics.

Speaker 5 (28:58):
They're not and thus understand.

Speaker 4 (29:00):
But healthcare is one of the biggest retirement expenses people
don't fully prepare for. Midyear is a good time to
revisit those expectations before a small issue becomes a larger
financial burden, and healthcare isn't the only future costs people
tend to avoid. Long term care is another major blind spot.

Speaker 2 (29:23):
Why do you think so many people skip over long
term care planning.

Speaker 4 (29:26):
Because most of us assume it will never apply to us,
even though the statistics show a large percentage of Americans
will eventually need some form of assistance and long term
care isn't only nursing homes.

Speaker 5 (29:41):
It can mean home health.

Speaker 4 (29:42):
AIDS, assisted living, transportation help, or family members stepping in
to provide care.

Speaker 2 (29:50):
And that last part carries an emotional weight, not just
a financial one.

Speaker 5 (29:54):
That's so important, William.

Speaker 4 (29:56):
The impact on a spouse or adult children is often
just as significant as the dollars involved. Avoiding the topic
doesn't eliminate the risk. It simply reduces your preparation time.
The best time to plan for long term care is
before you need it.

Speaker 2 (30:14):
And beyond healthcare and aging, I know there's one more
area people lose track, the organizational side.

Speaker 5 (30:20):
This one is so common.

Speaker 4 (30:22):
Over the years, people accumulate scattered accounts, outdated beneficiaries, old paperwork,
and unclear records. Then during an emergency, those important documents
are suddenly very hard to locate. Retirement planning isn't only
about money. It's about clarity, communication, and organization.

Speaker 2 (30:46):
I've seen people who are actually in good financial shape,
but they feel anxious simply because nothing is organized.

Speaker 4 (30:52):
Sometimes the biggest source of retirement stress is simply not
knowing where everything stands us exactly why regular reviews matter
so much. One of the biggest missteps in retirement is
assuming your original plan never needs updating.

Speaker 2 (31:11):
Which connects directly to the guide we're offering this week.

Speaker 4 (31:14):
It does our free investor guide five retirement planning missteps
to dodge walks through the areas most people often overlook healthcare, inflation, budgeting,
and long term care. At Kelly Financial, our advisors help
people understand how all these pieces fit together, not just investments,

(31:37):
but lifestyle, income needs, organization, and future goals. A good
retirement plan should evolve as your life of loafs.

Speaker 2 (31:47):
And midyear is the perfect time to regroup and focus.

Speaker 4 (31:51):
It is, and when we come back, we'll talk about
practical ways to get back on track and strengthen your
retirement readiness for the second half of the year.

Speaker 5 (32:02):
Stay with us and we'll be right back.

Speaker 3 (32:07):
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 (32:18):
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

(32:42):
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 high hundred and eighteen
eighty one or visit Kellyfinancial dot org for an appointment

(33:04):
at Kelly Financial. We believe you've got to have the
right team and clue and in retirement, how will you
cross the finish line? Here Kelly Financial Services. Come retire with.

Speaker 3 (33:16):
Us Safe Money Strategies with William Kelly and Kelly Kelly.
Call the team on eight eight eight hundred eighteen eighty one.

Speaker 4 (33:26):
Take in cares, Welcome back to Safe Money Strategies. Before
the break, William and I talked about why so many
retirees quietly drift off track, spending creep healthcare cost, long
term care, and disorganization. Now let's get practical and talk

(33:48):
about how to get back on track.

Speaker 2 (33:50):
That's what I've actually been looking forward to, mom, because
it's one thing to recognize you drifted, and another to
know what actually to do about it. Where should someone start.

Speaker 4 (33:59):
I always start with goals and priorities. They naturally evolve
over time, especially in retirement, so a mid year check
in is a chance to ask a simple question, does
my current lifestyle still align with my long term goals?

Speaker 2 (34:16):
And those goals can change more than people expect they can.

Speaker 4 (34:20):
Health changes, family needs change, and priorities shift. The trip
you were saving for, the home you plan to stay in,
the support you want to offer your children. Those things
look different at sixty eight than they did at sixty
That's why a retirement plan should stay flexible. Reviewing your

(34:41):
goals regularly helps you stay intentional rather than reactive, and
progress becomes much easier to measure. When your goals are
specific and realistic. A retirement plan should support the life
you actually want to live, not the one you imagined
years ago.

Speaker 2 (35:01):
Once your goals are clear, I imagine the next step
is looking honestly at spending.

Speaker 4 (35:05):
Exactly, not with guilt and not with restriction, just awareness.
Reviewing your spending patterns help you identify habits that may
have quietly shifted over the past several months, sometimes simply
looking through your bank and credit card statements revealstrends you

(35:26):
completely overlooked.

Speaker 2 (35:28):
I find that people are often surprised by what they see.

Speaker 5 (35:30):
Almost always.

Speaker 4 (35:32):
The goal is to separate meaningful spending from mindless spending.

Speaker 5 (35:36):
The things that genuinely bring you joy and purpose. Keep those.

Speaker 4 (35:41):
It's the automatic forgotten expenses that deserve a second look.
Awareness creates options, while ignoring your spending patterns limits them.
Even small adjustments can now improve your confidence.

Speaker 5 (35:56):
Later and well.

Speaker 2 (35:57):
Spending habits matter. You've said healthcare deserves its regular review.

Speaker 5 (36:01):
It really does.

Speaker 4 (36:02):
Healthcare planning should evolve as you age and your needs change.
Reviewing your insurance coverage, your prescription costs, and your expectations
for future care helps reduce surprises down the road. Even
something as routine as the annual Medicare open enrollment window

(36:22):
is worth a careful look because the plan that fit
you last year may not be the best fit this year.

Speaker 2 (36:29):
And this is where those long term care conversations come
back in.

Speaker 4 (36:32):
Yes, so many families delay conversations about caregiving, housing transitions,
and long term care until a crisis forces a decision
in a hurry. A mid year check in creates a calmer,
less emotional opportunity to talk about these things proactively. The
more prepared you are for health care changes, the more

(36:55):
choices you usually have, and preparation tends to re stress.
For both retirees and their family members, that.

Speaker 2 (37:04):
Theme of reducing stress keeps coming up, and I know
organization plays a big role there too.

Speaker 4 (37:09):
It's one of the most overlooked forms of financial preparedness.
Organizing your accounts, passwords, beneficiaries, legal documents, and contact information
can dramatically reduce stress. Many retirees don't realize how outdated
or scattered their records have become until they go looking.

Speaker 2 (37:31):
And families really feel that during an emergency they do.

Speaker 4 (37:35):
When important information is hard to locate, it makes a
difficult moment even harder. Simplifying your financial organization helps you
feel more confident and in control. Midyear is a natural
time to clean up paperwork and review those important documents,
including checking that your beneficiary designations still reflect your wish.

Speaker 12 (38:00):
Once you've got clarity, what's the next step Accountability?

Speaker 5 (38:04):
Because here's the reality.

Speaker 4 (38:06):
Most people drift off track gradually, not suddenly. Regular reviews
create accountability and allow for small course corrections before bigger
problems develop, and that's.

Speaker 2 (38:19):
Really the case for an annual review with an advisor.

Speaker 4 (38:22):
It is an annual meeting, gives you a chance to
revisit your goals, your concerns, your spending habits, and any
lifestyle changes, and it puts a date on the calendar
so the review actually happens instead of slipping to next year.
Retirement planning works best when it becomes an ongoing process

(38:44):
rather than a one time event. Consistency and communication are
often more important than perfection. People rarely regret reviewing their
plans too often, they regret waiting too long.

Speaker 2 (38:59):
So as we look ahead at the second half of
twenty twenty six, how do people build real confidence going forward?

Speaker 4 (39:04):
Confidence is built through preparation, organization, and regular communication. That's
exactly why we put together our free investor guide five
retirement planning Missteps to Dodge. It outlines several of the
most common mistakes people make, failing to update their plans,

(39:25):
underestimating healthcare costs, ignoring inflation, and neglecting long term planning.

Speaker 2 (39:32):
And the goal of the guide is really education.

Speaker 5 (39:34):
That's right.

Speaker 4 (39:35):
Our Kelly Financial Advisors help people organize their full financial
picture and better understand how today's decisions may affect their
future retirement goals. A mid year review can help identify
blind spots before they become major problems. And remember, the
second half of the year is still full of opportunity

(39:58):
to make thoughtful improvements. Small adjustments today can create greater
confidence tomorrow.

Speaker 2 (40:05):
So how do listeners get the guide and take that
next step?

Speaker 4 (40:08):
It's simple to request your free copy of five retirement
planning missteps to dodge and to schedule your annual review
contact Kelly Financial. We'll be glad to help you start
the second half of the year with greater confidence and clarity.

Speaker 2 (40:25):
Mom, this has been a great conversation and a timely one.

Speaker 4 (40:28):
Thank you, William, and thank you to everyone listening this morning.
Consider this your invitation to do a midyear check in
of your own. More informative content coming your way.

Speaker 3 (40:42):
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 7 (40:53):
Welcome back to save money strategies I might do set
with Greg Workmen of Kelly Financial Services. Before the break,
we discussed the value of a complementary retirement review and
walked listeners through our Safe Money Strategies process, from comprehensive
retirement planning to investment analysis and second opinions and Mike.

Speaker 8 (41:11):
One thing we've learned over the years is that people
usually don't reach out to another advisor randomly. There's typically
something bothering them. Sometimes it's a major issue, other times
it's simply a growing feeling that something is missing from
their relationship.

Speaker 7 (41:28):
That's exactly right, and today we thought it would be
helpful to discuss some of the most common reasons people
decide to seek a second opinion or potentially change advisors,
because honestly, many listeners may be failing the same way
but haven't acted on it yet.

Speaker 8 (41:41):
And let's be clear, we're not here to criticize other advisors.
There are a lot of hard working professionals in this industry,
but every advisor and every firm operates differently, and sometimes
people simply outgrow the relationship or realize that their needs
have changed.

Speaker 7 (42:01):
One of the biggest reasons we hear from people is communication,
or more accurately, lack of communication.

Speaker 8 (42:06):
Absolutely, we'll meet people who say things like I haven't
heard from my advisor in over a year. I only
hear from them when they want me to sign paperwork,
I can never get them on the phone. I don't
really know who manages my account anymore. That lack of
communication creates anxiety, especially during volatile markets.

Speaker 7 (42:26):
And I think retirees fail that even more because this
is no longer just investment money on a statement. This
is their future income, their lifestyle, their security.

Speaker 8 (42:35):
Exactly when someone is approaching retirement or already retired, they
want reassurance that there's a strategy in place. They want
to know that someone is paying attention, even if no
changes are needed. Communication matters.

Speaker 7 (42:50):
Another reason people come to us is advisor transitions. Maybe
their longtime advisor retires, changes firms, or hands the relationship
off to someone new.

Speaker 8 (43:00):
We see that quite a bit, and sometimes the new
advisor may be perfectly capable, but the client simply doesn't
feel comfortable yet. Maybe there's a difference in communication style.
Maybe the relationship feels a little bit less personal. Maybe
the client feels like they're starting over, and retirement planning
is personal. People want trust and confidence in the person

(43:24):
helping guide their financial future.

Speaker 7 (43:26):
In greg Another common frustration is performance, although sometimes performance
means different things to different people.

Speaker 8 (43:33):
That's very true. Some investors are unhappy because they feel
their portfolio hasn't grown enough. Others are unhappy because they're
taking far more risks than they expected. And sometimes the
issue isn't even the return itself, it's that nobody ever
explained the strategy clearly in the first place.

Speaker 7 (43:52):
That's such an important point because when markets decline, people
can tolerate volatility much better if they actually understand why
they own what they own exactly.

Speaker 8 (44:01):
Part of our process is helping clients understand the purpose
behind the allocation. Why do you own stocks, why do
you own bonds, Why do you have a certain amount
in cash reserves, and how does it all connect to
your retirement income needs. Without that context, investors often feel

(44:21):
like they're flying blind.

Speaker 7 (44:23):
And that uncertainty can lead people to make emotional decisions
at the wrong time.

Speaker 8 (44:27):
Absolutely, we've seen investors panic during market downturns and move
entirely to cash, only to miss the recovery later. That's
why planning matters so much. A well designed retirement strategy
helps create structure and discipline during uncertain periods.

Speaker 7 (44:46):
Another topic we touched on earlier was fees, and this
sometimes becomes a major eye opener for investors.

Speaker 8 (44:53):
It really can now. Fees themselves are not inherently bad.
Professional guidance does have value, but people deserve transparency. They
should understand what they're paying, how their advisor is compensated,
whether the structure is commission based or fee based, and
what internal investment expenses exist, and what services they're receiving

(45:17):
in return.

Speaker 7 (45:18):
And surprisingly many people don't fully know those answers.

Speaker 8 (45:22):
That's true. We've sat down with prospective clients who genuinely
didn't know what they were paying or what level of
ongoing planning was included. Again, we're not saying another advisor
is doing anything wrong. We're simply helping investors better understand
their overall picture.

Speaker 7 (45:41):
Sometimes the issue isn't even performance or fees. Sometimes people
just want more planning.

Speaker 8 (45:46):
Maybe they've accumulated investments over time, but nobody has tied
everything together into a coordinated retirement strategy. They may have
old four oh one k's iras, brokerage accounts, pension option
social security decisions, required minimum distributions, tax concerns, as state
planning questions, but nobody has helped organize it into one

(46:10):
comprehensive plan.

Speaker 7 (46:11):
And that's really the heart of the Safe Money Strategies
process it is.

Speaker 8 (46:15):
We believe retirement planning should go beyond simply managing investments.
Investments are important, of course, but they're only one piece
of the puzzle. The bigger question is how do all
the pieces work together to support the client's retirement lifestyle
and long term goals.

Speaker 7 (46:35):
And for listeners out there who may be wondering whether
it's time for a second opinion, sometimes the answer is simple.
If you've been asking questions and not getting clear answers,
if you don't fully understand your strategy, if communication is
broken down, or if you simply want reassurance that you
are on the right path, that may be a good
time to sit down for a review.

Speaker 8 (46:55):
And remember there's no pressure attached to our process at
KEL Financial. Whether someone wants the full retirement planning experience
or simply wants a second opinion on their investments, we're
happy to help. Our goal is education, clarity and helping
people make informed decisions. Individual needs and circumstances will vary,

(47:20):
and remember all investing involves risk, including potential loss on
principle and great.

Speaker 7 (47:26):
Before we wrap up today, I'd like to do something
a little different over the past several months, we've covered
a lot of retirement topics on this show. We've talked
about retirement regrets, spring, cleaning your finances, whether your plan
is still on track, tax efficiency, income planning, market volatility,
social security planning, and a whole lot more.

Speaker 8 (47:46):
And we'd love to hear from our listeners what retirement
or financial topics would you like us to discuss on
future shows, because chances are if you have a question,
many other people are wondering the same thing too.

Speaker 7 (47:58):
Absolutely, and if today's conversation resonated with you and you'd
like to go through our complimentary Safe Money Strategies review process,
give us a call. Whether you're looking for a full
retirement plan or simply won a second opinion on your investments,
We're here to help.

Speaker 8 (48:12):
Thanks again for joining us this week.

Speaker 7 (48:14):
We appreciate you spending part of your weekend with us,
and we'll see you next time on Safe Money Strategies.

Speaker 6 (48:23):
Joining us now, as she always does at this time,
she is the co founder, CEO, and president of Kelly
Financial Services, and yes, that is her wonderful.

Speaker 8 (48:38):
Name, Kelly.

Speaker 6 (48:39):
Kelly Kelly, how are you.

Speaker 5 (48:44):
Good morning, Jeff, I am good.

Speaker 4 (48:47):
We're almost halfway through twenty twenty six, and this is
the time of year I encourage people to pause and
ask themselves one simple question, Am I still on track?
Because retirement planning isn't set it and forget it. Life changes,
spending creeps up, healthcare cost rise, family situations change, and

(49:10):
a lot of people drift off course without realizing it
until years later. That's exactly why my team at Kelly
Financial created our complimentary investor Guide five Retirement Planning Missteps
to dodge. It highlights some of the most common blind
spots underestimating healthcare, ignoring inflation, putting off long term care,

(49:34):
and forgetting to update your plan as life changes. To
request your copy or to schedule a conversation with our team,
give us a call or email Kelly at Kellyfinancial dot org. Jeff,
have a wonderful weekend. My best of grace, Indi kiddos.

Speaker 6 (49:51):
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.

Speaker 8 (49:59):
Can and do get it.

Speaker 6 (50:01):
Call now eight eighty eight eight hundred eighteen eighty one
eight eighty eight eight hundred eighteen eighty one or you
can actually email Kelly herself personally Kelly Kelly Financial dot org.

Speaker 2 (50:15):
That's Kelly Kelly Financial dot org.

Speaker 3 (50:25):
Safe Money Strategies A eight eight hundred one eight eight one.

Speaker 4 (50:31):
Before we close out today's program, it's time for another
edition of the Wit and Wisdom of Bill Kelly. You know,
one of the things I miss most about Bill is
the way he could take an ordinary life experience and
turn it into a lesson that stayed with you forever.
In this story, Bill reflects on the values his grandfather

(50:55):
taught him, not through lectures, but through the way he
lived his life every single day. It's a story about character, dignity, family,
and one of the hardest goodbyes a grandson ever has
to face.

Speaker 5 (51:11):
Here's Bill Kelly.

Speaker 11 (51:15):
Well, if you have a good value system quote unquote good,
are you never going to make an error? Yes, you're
going to make a mistake. But I believe that a
value system will help you to recover and that a
major mistake doesn't have to be fatal. If you have
a good value system working for you and you know
what's wrong, you know what's right. If you want to

(51:37):
step on the other side, there's a price, and that's
what happens. So I think value systems work. They're survival mechanisms.
They are rules of living that allow you to continue
on in life, and they're very valuable. They're very valuable
to have. But now, my grandfather, I remember when I

(51:57):
was probably six or seven years old, I was up
in the attic and I found a toolbox. It was
a black toolbox. It was a felt lined toolbox, and
I opened it up. It had layers you could lift
up the inner workings of it, and basically it had
every single tool that my grandfather used to use back

(52:17):
in the twenties and thirties. And the tools were all
in bags and they were all shiny, and they looked
like the day they were made. Those are all his
tools from all the years of machining. His suits, he
was a chicken farmer, ladies and gentlemen. His suits were perfect.
They hung in the closet. His shoes were shined with

(52:38):
shoe trees, all in perfect order. If we went to
a family wedding, a first communion, Grandpa looked perfect. He
would have thought he's an executive. But he was a
chicken farmer, ladies and gentlemen. But he wore his blue
suit black shoes, shined, spit, shined his tie and white shirt,

(52:59):
and he looked tremendous. So it didn't matter what you did.
It mattered what you thought of yourself and how you
conducted yourself. So that was the value of looking sharp,
and the value of good grooming, keeping your nails done
properly as a man very important. That's what we were taught.

(53:24):
And those are the lessons and the talks we had.
And one day I got a call. I was overseas.
I was installing computers in the late seventies, early eighties,
and I got a call from my mother and Gramp
had to go into a nursing home and he wouldn't go.
He wouldn't go. And we'd had this talk ladies and

(53:44):
gentlemen over the years about the fact that I would
never let him go into a nursing home, and I
was helpless to do anything about it. And I was
halfway across the world, and suddenly I had to fly
to Boston. I had to drive back down to Middletown.
It took memst a day to get there. In the
morning that I woke up, I woke up at nine,
and then I was wondering where Grandpa was. He hadn't

(54:07):
gotten up yet, and I went up to his room.
I peeked in. He wasn't awake, and then around ten
thirty I went back up and he was awake and
he looked at me and he said, hi, you Murph.
You called me Murph? And I said, hey, how you doing, Grandpa?
And he said, well, I guess we got to make
a trip today, don't we. And I said I think
we do, but you know, how are you feeling about it?
He said, it's okay, don't worry about it. So he

(54:30):
sat on the edge of his bed and he got
dressed the same way he always did. He had gray
pants kakis that he bought at WT Grant. He had
his flannel shirt with two pockets, and he had his
white sox black shoes. Got dressed and he came downstairs,
had his coffee, and my mother called the ambulance and

(54:52):
they came up to the door and I said, I'm sorry,
and he said, don't worry about it. There's nothing we
can do. We're going to make the as to this.
We got in the ambulance. I sat up with him.
He actually sat in a chair side a chair you
could sit up right in. It was a big red ambulance,
and we talked on the way down to the nursing home.

(55:13):
And really, as we rode down the country lanes to
get to that nursing home, my whole I was changing
every inch that we traveled. My life was changing, my
mind was changing, my spirit was sort of breaking inside.
I didn't know what to do. And we get to

(55:33):
the nursing home and he said, we're going to be fine.
Everything's okay, and this is a great place for me,
your parents, mom, and dad. I haven't had a vacation
in three years, he said. So we checked him in.
I saw him one more time, then he was gone.
And I was busy trying to get a career established.

(55:55):
I was in my early twenties and I was trying
to get a foothold in life. I was halfway across
the world. And basically the last time I saw my grandfather,
he was smiling, waving to me. I was walking out
of the nursing on the last words he said was
I love you, And that was it.

Speaker 1 (56:16):
Ladies and gentlemen

Speaker 3 (56:22):
Called Kelly Financial Services eight eight eight eight hundred, eighteen
eighty one