Kelly Financial: Saturday, May 30, 2026

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Episode Transcript

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

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 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 (02:12):
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 very handsome son,
William Kelly Junior, and we talk about life, what's going
on in the world, and our family and what really

(02:35):
matters most when you're planning for the future. Sometimes it's light,
sometimes it's thoughtful, but it's always real. Good morning William.

Speaker 1 (02:44):
Good morning Mom.

Speaker 2 (02:45):
How are you.

Speaker 4 (02:45):
I'm doing great? How about yourself?

Speaker 2 (02:47):
I'm doing fantastic. We've had a very peaceful week, not
very eventful, but you.

Speaker 4 (02:52):
Know what, I kind of like it, though I know
I'll take it.

Speaker 2 (02:54):
So I'm looking forward to talking a little bit more
about my book.

Speaker 4 (02:58):
Very good.

Speaker 2 (02:59):
The whole goal of my book was to condense the
core concepts that I thought are indisputable that you need
to know as a young person entering the investment works,
and I wanted to condense them into multiple chapters into
one book, which a book has chapters belifit or not,

(03:20):
as sort of a path that builds up from you
get to the start, and then you're ready for the end.
You work through the book as you go, and you're
finished having a stronger fundamental educational base. I start with
the basics from what is investing? Why you should even
read this book? What are stocks?

Speaker 1 (03:38):
Bonds?

Speaker 2 (03:39):
What are investment vehicles? What are the different retirement accounts?
Why are we even talking about retirement right now? What's
the importance of time in the market versus beating the
market or timing the market rather and going into stories
of successes and failures and how to actually guide people
my age to have a success in the market, and
not with some like day traders advice or anything like that,

(04:01):
but what are the proper due, diligent steps for me
to do well and to take advantage of this amazing
opportunity we have which is the stock market, which are securities.

Speaker 1 (04:13):
So that was the whole goal.

Speaker 2 (04:15):
And now is you know, months and I think almost
a year has passed that we've had this published. Looking
back at this, I'm very satisfied with the result. Yeah,
but I think it's very important to start talking a
little bit more about it. And I think that especially
if you have grandchildren, and especially if you know that
they're unsure, this book was made to be their starting point.

(04:37):
This was made for them to get their fundamental A
big goal of this was to show that we, you know,
I still want to be in your children's life, you
know what I mean, like keep it in the family here,
because we're a family firm, and Murray, Madeline and I
are going to work together and we're going to keep
Kelly Financial Kelly Financial. And as the years go on,

(05:00):
we want to be there to work with the estate
you've built up for years and to keep it going.
And that's what this book is meant to signify, and
also to help prepare and also to help their life
as well, you know what I mean A great Another
big important piece was not just hearing from me, but
was hearing from other people. So we have our investment

(05:21):
professionals from Kelly Financial who actually speak on their advice
to young people, what their words of wisdom are. And
then we have a separate chapter of people from not
just Kelly Financial in the investment industry, but from all
industries across the globe. We have one person who has
had work and has companies across the planet. We have

(05:43):
another person who has a huge financial company worth hundreds
of millions of dollars. We have one person who's based
in London. He's been an editor and worked in audio
all of his life and grew up around Abbey Road
in that area, worked for Angel Studios, like you know,
the big goal was, I don't want it just to

(06:03):
be like your traditional investment at you know, education. I
wanted it to also be more holistic here because it's
not just about the numbers necessarily though that's very important,
but it's about the big picture. And also you're so young,
it's important to hear from these people who are so
professional and who have so much experience. So I wanted

(06:25):
it to just be that kind of well rounded of
a book.

Speaker 5 (06:29):
I remember when the light bulb turned on and you
were so excited and you told me I'm going to
write a book, mom, and you were just so invested
in this book. I'd spend your mind your I mean,

(06:49):
you took a lot of time for this book, and
it shows.

Speaker 2 (06:54):
William, I appreciate that a lot.

Speaker 5 (06:57):
You did a great job.

Speaker 2 (06:58):
Thank you very much much so, ladies and gentlemen Again,
if you'd like a free copy, give us a call
at eighty eight eight hundred and one or email Kelly
at Kellyfinancial dot org.

Speaker 4 (07:09):
Well done, William, and do keep us on your dial.
We've got a lot of great content coming your way.
Might do seting Greg Workman. We'll talk about why a
midyear financial checkup can help keep your retirement plan aligned
with real life changes. Mary Madeline Kelly and Greg Murray
will discuss why financial planning should ideally become simpler as

(07:32):
you get older, and how reducing complexity can help bring
more clarity, confidence, and peace of mind. When William and
I return, we'll have a conversation about why building a
meaningful retirement often comes down to health, purpose, relationships, and
continuing to grow through every stage of life. And of

(07:54):
course we'll close the hour with some wit and wisdom
from the late Bill Kelly. His words can 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 (08:11):
I love you, honey, I love you too much.

Speaker 6 (08:20):
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. A fifty five

(08:41):
plus community could be a great fit, but it comes
with rules.

Speaker 1 (08:45):
Moving in with.

Speaker 6 (08:46):
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 Financials put together a complimentary investor guide. It's called
your Retirement Income Planning Checklist. It covers every key considerations,

(09:10):
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
Kelly Financial dot org.

Speaker 1 (09:24):
Welcome back to Safe Money Strategies.

Speaker 7 (09:26):
I'm Mike Ducett, COO of Kelly Financial Services alongside Greg Workman,
investment advisor.

Speaker 1 (09:32):
Thanks for joining us this weekend. Greg.

Speaker 7 (09:34):
Last week we had a really good conversation about the
hitting costs.

Speaker 1 (09:37):
Of being almost optimized.

Speaker 7 (09:39):
We talked about how a lot of people are doing
many things correctly financially, but even small inefficiencies in a
retirement plan can quietly create larger issues over time.

Speaker 8 (09:48):
That's right, Mike, and I think that topic resonated with
a lot of people because being almost optimized doesn't necessarily
mean that someone made bad decisions in many cases or
worked hard, saved consistently, and built meaningful wealth. But today
retirement is complicated. Taxes matter, income strategy matters, investment allocation matters,

(10:11):
even timing of decisions matters a lot.

Speaker 7 (10:14):
Exactly, And with the summer quickly approaching, we thought this
would be a great time to shift gears a little
and talk about something practical, a mid year financial checkup.

Speaker 1 (10:24):
A lot of people naturally.

Speaker 7 (10:25):
Think about financial planning in January or right before tax season,
but honestly, late spring and early summer may be one
of the best times to step back and evaluate whether
your retirement plan is still on track.

Speaker 8 (10:38):
Because by this point in the year you've got real data.
You can look at spending, habits, investment performance, tax withholding,
retirement income distributions. All the things that looked good on
paper in January can now be evaluated in real time.
And sometimes the biggest value of a financial checkup isn't

(10:59):
finding something catastrophic. It's identifying the small adjustments before they
become major problems.

Speaker 7 (11:07):
That's such an important point. Most retirement plans don't fail overnight.
Usually it's a slow drift. Maybe spending has crept up
more than expected. Maybe the portfolio has become more aggressive
than intended because of market growth. Maybe taxes are going
to be higher than anticipated. Maybe cash reserves are lower
because of travel, helping family members or home projects. Those

(11:30):
things can compound if nobody's paying attention.

Speaker 8 (11:33):
And one thing we see all the time is people
who think they only need to review their finances one
time per year, But retirement planning isn't something that you
put on autopilot for twelve months at a time, especially
in today's environment where markets, interest rates, inflation, and tax
laws can change fairly.

Speaker 7 (11:53):
Quickly and greg This time of year also tends to
be very active personally for families. People are traveling of graduating,
weddings are happening, maybe someone's helping a child with a
home purchase, maybe they're planning renovations or thinking about buying
a second property. There's a lot happening emotionally and financially
all at once, absolutely.

Speaker 8 (12:13):
And sometimes people make large financial decisions during these life
moments without fully understanding the long term impact. We recently
sat down with a couple we'll call them Tom and Linda,
not actual clients, but very representative of the situations would
commonly see, and they came in for what they thought

(12:33):
was just a routine portfolio review. Tom had recently retired,
Linda planned to work another year or two. They felt
pretty confident overall because they had saved diligently for decades,
but as we walked through their plan, we realized their
spending had increased dramatically over the previous eighteen months, and.

Speaker 7 (12:54):
Not irresponsibly either. This wasn't reckless spending. They were helping
their daughter with wedding expenses, traveling more, doing some upgrades
on the house, and spending more time with grandchildren, all
very understandable things.

Speaker 8 (13:08):
Exactly, And because none of the individual expenses seemed unreasonable
on their own, they didn't realize how much of their
annual withdrawal rate had actually changed. When we updated their plan,
their projected long term income sustainability had shifted quite a
bit from where it was originally now. Fortunately we caught

(13:30):
it early.

Speaker 7 (13:31):
That's the key, because once we identify the issue, the
solution wasn't drastic. They didn't need to cancel retirement or
completely change their lifestyle. We simply adjusted a few areas.
We reduced unnecessary cash drag, restructured some investments for income efficiency,
reviewed future travel spending, and improved their tax strategy.

Speaker 1 (13:52):
Small course corrections.

Speaker 8 (13:54):
And honestly, that's what a good financial review often looks like.
People some times avoid these meetings because they're afraid they're
going to hear bad news or be told that they
can't spend money anymore. But usually it's about refinement. It's
about making sure the plan still reflects reality.

Speaker 7 (14:14):
That's an important distinction because retirement shouldn't feel restrictive. The
goal isn't to accumulate money forever and never enjoy it.
The goal is to use your resources intentionally and confidently.
But confidence comes from having a process and mike.

Speaker 8 (14:27):
Another thing people often overlook during a media review is taxes.
A lot of retirees focus heavily on investment returns while
underestimating how much taxes can impact retirement income. This is
especially true for people who are recently retired and transitioning
from accumulation into distribution.

Speaker 1 (14:48):
Planning, because now the questions change.

Speaker 7 (14:51):
Instead of how much can I save, the conversation becomes
where should I take income from first?

Speaker 1 (14:56):
How do I minimize taxes?

Speaker 7 (14:58):
How do I avoid creating unnecessary Medicare premium increases? How
do I manage required minimum distributions down the road. Those
are very different planning conversations.

Speaker 8 (15:07):
And they become even more important as retirement progresses. That's
why we encourage people not to think of retirement planning as.

Speaker 1 (15:16):
A one time event.

Speaker 8 (15:17):
It's an ongoing process that evolves with your life, and
remember individual needs and circumstances will vary from household to household.

Speaker 7 (15:28):
When we come back, Greg and I are going to
continue this conversation and talk about some of the most
commonly overlooked areas during a midyear financial checkup, including beneficiary reviews,
investment risk, cash reserves, and why many retirees don't realize
their portfolio has quietly drifted into a very different risk
profile than they originally intended.

Speaker 1 (15:48):
Stay with us, We'll be right back after the break.

Speaker 3 (15:55):
Kelly Financial Services eight hundred eighteen eighty one.

Speaker 4 (16:00):
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

(16:22):
eighteen eighty one or email Kelly at Kellyfinancial dot org.
We're Kelly Financial. Come retire with us.

Speaker 3 (16:30):
The Money Wrap with Kelly Financial Advisors, Greg Murray and
Mary Madeline Kelly.

Speaker 9 (16:37):
Good morning. This is Greg Murray, Senior Vice President and
Chief Compliance Officer at Kelly Financial Services. Turn today is
Mary Madeline Kelly, one of our wealth advisors.

Speaker 10 (16:46):
How are you doing today, I'm doing great, Greg, And
I think this time of year naturally gets people thinking
about simplifying things a little bit. Summer schedules are busy,
people are traveling, spending more time with family, and I
think many people start realizing how valuable simplicity really is.

Speaker 9 (17:02):
That's very true, and interestingly, the same idea applies financially
as well, especially as people get older.

Speaker 10 (17:07):
Exactly, and that's what we're talking about today, why financial
planning should actually get simpler as you age, not more complicated.

Speaker 9 (17:14):
And I think that surprises people sometimes because they assume
financial planning becomes increasingly complex forever.

Speaker 10 (17:20):
Right, But in reality, one of the goals of good
planning is simplification. As life evolves, finances should ideally become
more organized, more intentional, and easier to manage.

Speaker 9 (17:30):
Because complexity itself can cause stress. Multiple accounts, scattered investments,
unnecessary risk, outdated documents, all of that becomes harder to
manage over time.

Speaker 10 (17:40):
And simplification doesn't mean oversimplifying or ignoring important details. It
means creating clarity, So.

Speaker 9 (17:46):
Let's talk about what that actually looks like.

Speaker 10 (17:48):
One big area is account organization. Many people accumulate accounts
over decades old four O one ks, brokerage accounts, bank
statements at different institutions and at a certain point. Consolidating
where appropriate can make life much easier.

Speaker 9 (18:03):
Especially when it comes to tracking investments, managing distributions, and
helping family members understand things if needed later on exactly.

Speaker 10 (18:11):
Another area is investment strategy itself. When people are younger,
portfolios may be more growth focused and more complex, but
as retirement approaches or begins, the focus often shifts toward
income preservation and predictability.

Speaker 9 (18:26):
And of course investing involves the risk, including the potential
loss of principle. So simplifying doesn't eliminate risk, but it
can help people better understand and manage what they own.

Speaker 10 (18:35):
Yes, simplicity often improves confidence because people actually understand how
their plan works.

Speaker 9 (18:40):
Another important area is cash flow. As people get older,
knowing where income is coming from becomes increasingly important.

Speaker 10 (18:46):
Creating a clear retirement income plan, like understanding social security,
require minimum distributions, pension income if applicable, and investment withdrawals
can dramatically reduce stress.

Speaker 9 (18:58):
We also see simplification and become important in the state planning.

Speaker 10 (19:02):
Absolutely making sure beneficiaries are updated, accounts are titled properly,
trusted contacts are in place, and important documents are organized
can make a huge difference for families.

Speaker 9 (19:12):
Because when things are overly complicated, it can create confusion
at exactly the wrong time.

Speaker 10 (19:17):
Yes, and that's something many people don't think about enough.
Simplifying finances isn't just helpful for you, it can also
make things much easier for loved ones later on.

Speaker 9 (19:25):
Another thing that tends to happen with age is a
shift in priorities.

Speaker 10 (19:29):
Earlier in life, people are often focused heavily on accumulation
and growth. Later on, the focus becomes peace of mind, flexibility,
and quality of life.

Speaker 9 (19:38):
And sometimes simpler financial structures support those goals better than
overly complicated strategy.

Speaker 10 (19:43):
Yes, financial planning should support your life, not feel like
a second full time job.

Speaker 9 (19:47):
That's a great way to put.

Speaker 10 (19:48):
It, and simplification can also help reduce emotional decision making.
When people have too many moving pieces, they often feel
overwhelmed during periods of market volatility or uncertainty.

Speaker 9 (20:00):
As a simpler, more organized plan can make it easier
to stay disciplined and focused on long term goals.

Speaker 1 (20:05):
Exactly.

Speaker 10 (20:06):
Simplicity creates clarity, and clarity creates confidence.

Speaker 9 (20:10):
So for our listeners, what are a few signs that
your financial life may be overly complicated?

Speaker 10 (20:15):
A few big ones would be not really exactly how
many accounts you have difficulty tracking income or investments, outdated
beneficiaries or paperwork, or fully stressed every time you think
about your finances.

Speaker 9 (20:27):
And the goodness is simplification usually happens gradually through thoughtful planning,
not drastic changes overnight.

Speaker 10 (20:32):
Exactly, small steps can make a huge difference over time.

Speaker 9 (20:36):
And as always, every financial situation is unique and investment
decisions should be made within the context of their goals, timeline,
and comfort level.

Speaker 10 (20:43):
But the key takeaway is this, as life becomes more
valuable and time becomes more important, your financial life should
ideally become clearer, calmer, and easier to manage.

Speaker 9 (20:53):
Well said, that's going to wrap things up. If you'd
like help simplifying your financial life and building a more
organized plan, give us a call. We'd be have help
absolutely well.

Speaker 10 (21:01):
Greg, thank you for your time today and I will
see you next week.

Speaker 3 (21:04):
To get in touch with Greg Murray or Mary Madeline
Kelly or any member of the Kelly Financial Team Call
eight eight eight hundred.

Speaker 1 (21:13):
Eighteen eighty one.

Speaker 3 (21:17):
Safe Money Strategies with William Kelly and Kelly Kelly. Call
the team on eight eight eight hundred, eighteen eighty one.

Speaker 4 (21:30):
Welcome back to Sake Money Strategies. I'm Kelly Kelly alongside
my son, William Kelly Junior. Thank you so much for
spending part of your weekend with us right here on WRKO.
You know, William, one of the things I've noticed over
the years working with retirees is that so many people

(21:52):
spend decades preparing financially for retirement, but they spend very
little time preparing emotionally for what retirement will actually feel
like day to day.

Speaker 2 (22:05):
That's truemont People spend years to focus on saving, investing,
paying down debt, contributing to retirement accounts, and trying to
reach a certain number financially. But once retirement finally arrives,
many people realize there's a completely different side to this
transition that they didn't fully.

Speaker 4 (22:21):
Expect exactly, And sometimes people are surprised by that. They
imagine retirement will instantly feel relaxing, and care free every
single day. And certainly there can be wonderful freedom in retirement.
But after the excitement of no alarm clock and no
commute wears off, some people begin asking themselves a different question,

(22:47):
which is now what right?

Speaker 2 (22:49):
Because for decades, work provided structure, it provided routine, it
provided social interaction, goals, responsibilities, even identity for many people,
and when that's suddenly changes, it can feel disoriented our first,
very much so.

Speaker 4 (23:04):
We've seen people who were extremely successful professionally struggle emotionally
once they retire because their entire routine changed overnight. And
this happens to both men and women. Is not always
about finances. Sometimes is about purpose and direction.

Speaker 2 (23:24):
I think that surprises people because society tends to talk
about retirement almost entirely from a financial perspective. Everything revolves
around numbers. Do you have enough saved? What's your income strategy,
what's your withdrawal rate? And of course those things matter,
but happiness and retirement often depends on much more than
money alone.

Speaker 4 (23:42):
Absolutely. In fact, many studies now show that retirement satisfaction
has less to do with reaching some magical financial number
and more to do with how meaningful daily life feels.
Once the working years are over.

Speaker 2 (23:58):
That's such an important point. Retirement is not simply the
end of work. It's really the beginning of designing an
entirely new lifestyle.

Speaker 4 (24:06):
And that can actually feel overwhelming for some people because
during working years, life often follows a very structured path.
You wake up at a certain time, you go to work,
you interact with coworkers and clients, you solve problems, you
have deadlines, you have responsibilities. Then suddenly, one day, much

(24:29):
of that disappears.

Speaker 2 (24:31):
And people often underestimate how much emotional stability that routine
provided exactly.

Speaker 4 (24:36):
Some people say, I can't wait to have unlimited free time,
but then they discover that too much unstructured time can
actually create uncertainty or even loneliness if they aren't intentional
about building a new rhythm of life.

Speaker 2 (24:53):
Research consistently shows that people tend to feel happier when
they maintain some type of routine, momentum, or structure in
their daily lives. That doesn't mean retirement needs to feel
rigid or stressful. It just means that human beings generally
do better when life still has some sense of direction.

Speaker 4 (25:10):
And that structure can look very different for different people.
For one retiree, it might be volunteering. For another. It
might be regular exercise classes, spending time with grandchildren, church involvement, gardening, traveling,
mentoring younger people, or learning entirely new skills.

Speaker 2 (25:32):
Even simple habits can make a major difference. Morning walks,
weekly lunches with friends, a hobby, a class, community involvement.
Those things can create healthy structure and help retirement feel
fulfilling rather than aimless.

Speaker 4 (25:45):
I think one of the biggest lessons here is that
retirement satisfaction often improves when people intentionally build a lifestyle
instead of simply trying to fill time.

Speaker 2 (25:58):
That's a great way to put it feels better when
it still has purpose and direction, and.

Speaker 4 (26:03):
Purpose itself turns out to be one of the biggest
factors in long term happiness. The happiest retirees usually have
something meaningful that keeps them engaged with life.

Speaker 2 (26:16):
And purpose does not necessarily mean starting another career or
launching a business. Sometimes purpose comes through mentoring, Sometimes it
comes from faith, volunteering, caregiving, creativity, family or community involvement.

Speaker 4 (26:29):
Exactly. Some retirees discover passions they never had time for
during their working years, and that can be incredibly rewarding,
but without some sense of meaning, Retirement can sometimes feel
less like freedom and more like drifting.

Speaker 2 (26:46):
Purpose gives something people to wake up excited about each day.

Speaker 4 (26:50):
And another major ingredient in happiness that people sometimes lose
without realizing it is social connection.

Speaker 2 (26:58):
That's huge. During working years, social interaction often happens naturally
you're around coworkers, clients, meetings, conversations.

Speaker 1 (27:06):
And daily activity, but retirement can quietly.

Speaker 2 (27:09):
Reduce those interactions, especially after relocation, health changes, or the
loss of spouse.

Speaker 4 (27:14):
And loneliness is becoming a much bigger conversation nationally, especially
among older adults. Studies consistently show that strong relationships are
one of the biggest predictors of overall life satisfaction.

Speaker 2 (27:31):
And lalinas doesn't just affect emotional health, it can also
affect physical health and cognitive well being over time.

Speaker 4 (27:37):
That's why staying socially connected often requires more intentional effort
during retirement than it did earlier in life. People sometimes
assume relationships will naturally continue the same way they always have,
but retirement changes routines and sometimes friendships drift. If people

(27:59):
don't stay.

Speaker 2 (28:00):
Proactive retirement, happiness tends to grow through connection not isolation, and.

Speaker 4 (28:06):
Another issue people face is expectations. Sometimes retirees enter this
stage expecting NonStop relaxation, constant travel, or permanent excitement, but
life still includes challenges, routines, responsibilities, and emotional ups and downs.

Speaker 1 (28:26):
Exactly.

Speaker 2 (28:28):
A fulfilling retirement usually comes from balance, not perfection.

Speaker 4 (28:32):
And comparison can become a problem too, especially today with
social media, people sometimes compare their retirement to somebody else's
highlight real one couple is constantly traveling, another bought a
second home. Someone else seems to be living a perfect lifestyle,

(28:52):
but comparison often creates dissatisfaction.

Speaker 2 (28:56):
Meanwhile, research consistently shows that gratitude, fluxible ability, purpose, and
strong relationships often matter more than luxury or excess.

Speaker 4 (29:05):
That's such an important reminder retirement happiness is not necessarily
built on extravagance, often is built on meaning, connection, balance, health,
and having something positive to look forward to.

Speaker 2 (29:21):
That's one reason why here at Kelly Financial we created
our complementary investor guide called Six Secrets to Happy Retirement.

Speaker 4 (29:28):
This guide encourages people to think beyond finances alone and
really step back and evaluate how they want retirement to feel.
We discuss important lifestyle areas that contribute to fulfillment, including health, companionship, gratitude, purpose,

(29:48):
lifelong learning, and adventure.

Speaker 2 (29:51):
This guide also shares practical ideas for staying mentally active,
socially connected, and emotionally engaged through.

Speaker 4 (29:57):
Retirement, because ultimately retire, happiness does not happen automatically. Is
something people build intentionally over time, and.

Speaker 2 (30:07):
That intentional planning can make a tremendous difference in overall
quality of life.

Speaker 4 (30:11):
If you'd like your complimentary copy of six Secrets to
a Happy Retirement, simply visit Kellyfinancial dot org or email
us directly at Kelly at Kellyfinancial dot org. Again, that's
Kelly at Kellyfinancial dot org. And when we come back,
we're going to continue this conversation and talk about practical

(30:35):
ways to create a more meaningful, fulfilling, and emotionally rewarding
retirement lifestyle. Stay with us right here on WRKO.

Speaker 3 (30:49):
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 11 (30:59):
Ready, 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 team worker. Likewise, the

(31:23):
retirement 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

(31:46):
Kelly Financial. We believe you've got to have the right
team and crew and in retirement, how will you cross
the finish line? The are Kelly Financial Services?

Speaker 3 (31:57):
Come retire with us, safe money, strive to bees with
William Kelly and Kelly Kelly. Call the team on eight
eight hundreds, eighteen eighty.

Speaker 1 (32:07):
One ar.

Speaker 4 (32:11):
Welcome back to save Money Strategies. I'm Kelly Kelly alongside
my son, William Kelly Junior, and today we've been talking
about something that honestly does not get discussed enough, and
that is the emotional and personal side of retirement.

Speaker 2 (32:30):
That's right. In the first part of the show, we
talked about why so many people feel unprepared for retirement emotionally,
even when they may be financially prepared. And now we
want to shift the conversation to our practical ways people
could build a more meaningful and rewarding retirement lifestyle over time.

Speaker 4 (32:45):
Because retirement happiness usually does not come from one single thing,
is not just one purchase, one vacation, or one moment.
Is often created through habits, relationships, minds, set purpose, health,
and flexibility over many years.

Speaker 2 (33:05):
And one of the biggest contributors to retirement satisfaction is health.
In many ways, health creates.

Speaker 4 (33:10):
Freedom, it really does. So many retirees discover that good
health effects nearly every part of retirement. It impacts mobility, independence, confidence, energy, travel,
social activity, and overall quality of life.

Speaker 2 (33:29):
And physical activity can improve much more than just physical strength.
Research consistently shows that exercise may also help moot emotional
well being, cognitive health, and stress management.

Speaker 4 (33:39):
And the nice thing is retirement often creates opportunities for
healthier routines. Maybe someone finally has time for regular walks, swimming, gardening,
fitness classes, pickleball, yoga are simply becoming more active throughout.

Speaker 2 (33:57):
The day, and people do not need to become marathon
runners overnight. Small consistent habits often make the biggest long
term difference.

Speaker 4 (34:05):
Exactly, it's about sustainability. It's about creating a lifestyle people
can realistically maintain and enjoy, and mental health matters too.
Managing stress, maintaining social interaction, staying mentally engaged, and protecting
emotional wellbeing all become important pieces of the retirement picture.

Speaker 2 (34:30):
Healthy retirees often feel greater confidence and more freedom enjoying
daily life because they feel physically capable of participating in
the things they enjoy.

Speaker 4 (34:37):
And another major contributor to happiness is maintaining strong relationships
and social connection.

Speaker 1 (34:45):
That's huge, We're tired of.

Speaker 2 (34:47):
Happiness often improves when people actively maintain friendships, family relationships,
and community involvement.

Speaker 4 (34:54):
And those relationships do not necessarily happen automatically. During working years,
people often socialized naturally through work and routine, but retirement
may require people to become more intentional about maintaining connection.

Speaker 2 (35:11):
Simple routines can make a major difference. Weekly lunches with friends,
church groups, volunteer organizations, clubs, community events, even regular neighborhood
gatherings or exercise groups can help people stay socially engaged.

Speaker 4 (35:25):
And technology can help too, especially for retirees with families
spread across the country. Video calls, online communities, text messaging,
and social platforms can help people remain connected with children, grandchildren,
and lifelong friends.

Speaker 2 (35:44):
And often it's the shared experiences that creates the strongest
emotional fulfillment, not necessarily material things.

Speaker 4 (35:51):
That's such an important point. Some of the happiest retirees
we meet are not necessarily people living the most extreme
vigant lifestyles. Often they are the people with strong relationships
with gratitude, purpose, and health.

Speaker 2 (36:08):
The social interaction connection gives retirement warmth, meaning and energy.

Speaker 4 (36:14):
And beyond relationships, another major contributor to happiness is continuing
to grow intellectually and personally.

Speaker 2 (36:24):
Retirement does not mean personal growth stops. In many ways,
retirement can actually create more opportunities to learn.

Speaker 4 (36:31):
Exactly During working years, many people are so busy balancing careers,
commuting family responsibilities, and schedules that they never fully explore
personal interest or hobbies.

Speaker 2 (36:45):
But retirement can create space for entirely new experiences. Some
retirees take classes. Others learn instruments languages, photography, painting, writing, cooking,
or technology skills.

Speaker 4 (36:58):
And research suggests learning new skills may help support cognitive
help and mental sharpness as people age.

Speaker 2 (37:06):
Other retirees find tremendous fulfillment through mentoring younger generations or
sharing life experience.

Speaker 4 (37:11):
And wisdom, and I think that's one reason grandparents often
play an important role in families. They have life experiences, perspective,
and wisdom that younger generations truly benefit from Hearing.

Speaker 2 (37:26):
Curiosity helps retirement feel active and forward looking instead of stagnant.

Speaker 4 (37:31):
And mindset itself may be one of the biggest contributors
to long term happiness.

Speaker 2 (37:37):
Absolutely, studies consistently show gratitude practices can improve emotional resilience, optimism,
and overall life satisfaction.

Speaker 4 (37:45):
And retirement often feels more fulfilling when people focus on
what they can still do instead of focusing entirely on
what they may have lost or what has changed.

Speaker 2 (37:57):
Flexibility matters too, because retirement rarely unfolds exactly as planned.

Speaker 4 (38:02):
Very true health changes happen, family responsibilities shift, priorities evolve.
Sometimes people end up helping aging parents, sometimes adult children
need support. Sometimes life simply moves in unexpected directions.

Speaker 2 (38:21):
And retirees who adopt more easily often report lower stresses
and greater peace of mind.

Speaker 4 (38:26):
Because ultimately, life continues changing during retirement, just like every
other phase of life, and people who remain flexible emotionally
often navigate those transitions more successfully.

Speaker 2 (38:41):
Retired to happiness often comes from appreciating what is meaningful
instead of constantly chasing perfection.

Speaker 4 (38:46):
And another wonderful gift retirement can offer is the opportunity
for adventure and new experiences.

Speaker 2 (38:54):
And adventure does not always mean expensive international travel. Sometimes
people hear the word adventure and they think it requires
enormous spending.

Speaker 4 (39:02):
Exactly, adventure can simply mean trying new things. It could
be local day trips, hobbies, volunteering, creative projects, learning opportunities,
are spending more time exploring nearby places people never had
time to enjoy during working years.

Speaker 2 (39:20):
Trying new experiences helps prevent life from becoming repetitive or
emotionally stagnant, and.

Speaker 4 (39:26):
Often the smaller experiences create just as much joy as
the major bucket list moments.

Speaker 2 (39:32):
People imagine the happiest retirees often seeing the balance routine
with occasional novelty. They maintain healthy habits and structure, will
also remain open to growth, discovery, and new opportunities.

Speaker 4 (39:45):
And all of this is exactly why we created our
complementary investor guide called Six Secrets to a Happy Retirement.

Speaker 2 (39:54):
This guide walks through the practical ways retirees can create
a healthier, more connected, and fulfilling lifestyle throughout retirement.

Speaker 4 (40:01):
We discuss themes like companionship, purpose, gratitude, lifelong learning, staying
physically active, and maintaining emotional well being. Because retirement planning
is ultimately not just about money, It's about creating a
life people genuinely enjoy living.

Speaker 2 (40:22):
And one thing we consistently encourage people to do is
step back and think intentionally about how they want this
next chapter of life to feel.

Speaker 4 (40:29):
Exactly, what do you want your days to look like?
What relationships matter most, what activities bring you joy, what
gives you purpose? Those are incredibly important questions.

Speaker 2 (40:44):
Or financial planning works best when it supports the lifestyle
and values people truly care about.

Speaker 4 (40:48):
If you would like your complementary copy of Six Secrets
to a Happy Retirement, visit Kellyfinancial dot org or email
us directly at Kela at lafinancial dot org. Again, that's
Kelly at kellafinancial dot org. And as always, thank you
for spending part of your weekend with us here on

(41:11):
Safe Money Strategies. We truly appreciate it and we'll see
you next week right here on WRKO.

Speaker 3 (41:21):
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 7 (41:33):
Welcome back to Safe Money Strategies. I'm Mike Ducett alongside
Greg Workman of Kelly Financial Services. Before the break, we
were discussing why with the summer quickly approaching, now is
actually a great time for a midyear financial checkup. Last
week we talked about the hitting costs of being almost optimized,
and today we're building on that idea because even strong

(41:55):
retirement plans can solely drift off course if they aren't
reviewed consistently.

Speaker 8 (42:00):
That's right, Mike, and one of the biggest things that
we see during reviews is that people often don't realize
how much of their financial picture has changed over the
last few years, not just emotionally but structurally. Their portfolio
may have grown significantly, their spending patterns may have changed,
interest rates are different, tax laws evolve, health care costs rise,

(42:25):
and family priorities shift. But many people are still operating
off assumptions that they made five or even ten years ago, and.

Speaker 7 (42:34):
Sometimes people are surprised by the amount of risk they're
actually taking. We've seen situations where somebody thought they had
a conservative portfolio because that's how it was originally designed.

Speaker 1 (42:44):
Years ago, but after a long market.

Speaker 7 (42:46):
Run, equities grew to represent a much larger percentage of
the portfolio than intended. Without periodic rebalancing, the portfolio quietly
transformed into something very different. Please remember all investing is
subject to risk, including potential loss of principle.

Speaker 8 (43:02):
And that becomes especially important for retirees or people nearing
retirement because sequence of return risk matters much more once
you start taking withdrawals from your nestek. A major market
decline early in retirement can have a much larger impact
than many people realize. That's why reviewing your investment allocation

(43:26):
isn't just about performance. It's about making sure the portfolio
still aligns with the purpose of.

Speaker 7 (43:34):
The money exactly and greg Another area people often overlook
is cash reserves. A lot of families have spent more
over the last few years than they expected, travel inflation,
helping children or grandchildren, home repairs, healthcare costs, and sometimes
emergency reserves quietly shrink in the background. Then an unexpected

(43:54):
expense hits at exactly the wrong time.

Speaker 8 (43:56):
We saw that recently with another couple we met with,
again not actual clients, but very representative of situations we
commonly encounter. We'll call them John and Susan. John retired
a few years ago and Susan was semi retired. They
felt financially comfortable overall, but during their review we discovered

(44:20):
they had gradually relied more heavily on investment withdrawals than
originally planned. Not because they were spending irresponsibly, but life
simply became more expensive. They helped their son with a
home down payment, they took a few memorable family trips,
and experienced several large home maintenance projects, all within a

(44:44):
relatively short period of time.

Speaker 7 (44:46):
And emotionally, those decisions made perfect sense. The challenge was
that they hadn't revisited the long term impact of those
decisions together within the context of the retirement plan. Once
we updated their projections, we realized they needed to make
some adjustments to preserve flexibility later in retirement.

Speaker 8 (45:04):
Fortunately they addressed it early. We adjusted their withdrawal strategy,
improve tax efficiency, reviewed investment risk, and rebuilt a stronger
cash reserve structure. Again, nothing dramatic, but small adjustments now
can create a significantly better outcome down the road.

Speaker 7 (45:25):
And that's really the theme of today's conversation. A media
checkup isn't about perfection, It's about awareness. It's about asking
has anything changed? Are we still on track? Does our
current strategy still reflect our goals? Because financial planning should
evolve alongside your.

Speaker 8 (45:41):
Life and Mike, one area that people consistently forget about
during these account reviews is beneficiary designations and estate planning.
People assume that once documents are signed, everything is finished forever.
But families change and relationships evolve, assets move between or
amongst accounts, and laws change. Sometimes we find beneficiary forms

(46:05):
that haven't been updated in fifteen or twenty years, and.

Speaker 7 (46:09):
That can create major unintended consequences. We've had conversations with
people who updated their wills but forgot their retirement account
beneficiaries entirely, and many times beneficiary designations override what's written
in the estate documents. That's why these reviews matter so much.

Speaker 8 (46:25):
Another thing we encourage people to think about this time
of year is whether their retirement still matches the vision
that they originally had. Sometimes retirement becomes more expensive than
originally anticipated. Other times, people discover their spending far less
than they feared and can actually enjoy life far more comfortable.

(46:46):
Planning isn't just about protecting assets. It's about helping people
use their money with intention.

Speaker 7 (46:52):
That's a great point because too many people live somewhere
between anxiety and uncertainty. Either they overspend without a claim
a framework, or they underspend because they're afraid.

Speaker 1 (47:02):
Of making mistakes.

Speaker 7 (47:03):
A good retirement plan helps create confidence in both directions,
and that confidence.

Speaker 8 (47:08):
Usually comes from having ongoing conversations, not just reacting during
market volatility or around tax season.

Speaker 7 (47:17):
Before we wrap up today, Greg and I wanted to
mention something a little different. Over the past few months,
we've covered a wide range of topics here on the show,
retirement regrets, spring, cleaning your finances, tax efficient retirement planning,
market volatility, social security timing, income planning, estate planning, and
most recently, the hitting costs of being almost optimized and.

Speaker 8 (47:38):
We genuinely want these conversations to be helpful and relevant
for our listeners. So if there are financial topics that
you would like us to discuss in the future, or
if there's a previous topic that you would like us
to revisit and explore more deeply, we'd love to hear
from you.

Speaker 7 (47:57):
You can call the office anytime or send us an
email at info at Kellyfinancial dot org with your suggestions
and ideas for future shows, because chances are if you're
wondering about something financially, many other listeners probably are too.

Speaker 8 (48:11):
And as always, if you'd like help reviewing your own
retirement plan, preparing for retirement income, or simply getting a
second opinion on where things stand, our team at Kelly
Financial Services is here to help.

Speaker 7 (48:24):
Thanks again for joining us this weekend for Greg Workman
on Mike Ducett and this has been safe Money Strategies.
Enjoy the rest of the weekend and we'll see you
next time.

Speaker 6 (48:37):
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 our wonderful name, Kelly.
Kelly Kelly, how are you.

Speaker 4 (48:58):
Good morning, Jeff, I am I'm good. You know, a
lot of people spend years preparing financially for retirement, but
what many retirees discover is that happiness in retirement involves
much more than just money. Once work ds, questions about purpose,
routine relationships, health, and how you actually want to spend

(49:22):
your time become just as important, because retirement isn't only
about leaving your career. It's about creating a life that
still feels meaningful and rewarding every day. That's why this
week we're talking about what truly contributes to long term
retirement happiness and fulfillment. And if you'd like a complimentary

(49:46):
copy of our investor guide Six Secrets to a Happy Retirement,
just give us a call or email us at Kelly
at Kellyfinancial dot org. Jeff, have a wonderful weekend, My best,
Grace and the kid.

Speaker 6 (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 eighty eight eight hundred eighteen
eighty one eight eighty eight eight hundred eighteen eighty one,
or you can actually email Kelly herself personally Kelly Kellyfinancial

(50:23):
dot org.

Speaker 1 (50:24):
That's Kelly Kelly Financial dot org.

Speaker 3 (50:33):
Safe Money Strategies A eight eight hundred one eight eight one.

Speaker 4 (50:39):
Before we close the show today, I'd like to share
another special moment from the late Bill Kelly. In this reflection,
Bill talks about reconnecting with old classmates, growing up in
a different generation, listening to Red Sox games on a
transistor radio during school, and the lessons he learned through

(51:00):
through family, education and life itself. But at the heart
of it all is a reminder that life moves quickly,
time is precious, and the greatest wealth often comes from
the moments we share with the people we love. Here's
this week's in Wisdom from Bill Kelly.

Speaker 12 (51:22):
I was pumping some gas the other day at a
stopping shop and the fellow was next to me and
he said, well, aren't you Bill Kelly. I said yeah.
He said, oh, I'm Bill. Remember me in school? I
said that's right, Yeah, How are you Ben? He says great?
And I said what's new? And how have you been
since school? And I always ask my ex schoolmates if
they have pictures, especially from second grade. I'm looking for

(51:43):
a picture of my second grade class because the people
in that class. I'm trying to track down and find
out what they're doing with their lives. And I do
a lot of family history and things like that. But anyway,
my friend Bill, whom I hadn't seen and probably thirty
years maybe, I said, your family, said well, my last
daughter just finished graduate school, and so we're all set

(52:04):
with that. He said, how about you? When I said, well,
my last son I just got his first train set
for Christmas. They woulden Thomas the train engine, and he's
been playing with it all morning. So we both laughed uproariously.
When we were in school, gas was seventeen cents a gallon,
so times do change. I'm very interested in my old
schools where I went, especially elementary and middle school. I

(52:28):
had such a great education there and learned so much.
I remember every single teacher. I enjoyed them. I thought
they did a great job. I was entertained in my
classroom at all times, and you know, sometimes I cut up.
I guess, don't we all. We used to buy those
little transistor radios for ninety eight cents. I don't know
if you remember those, but I was a great I

(52:49):
was a big Red Sox fan, so I used to
love Red Sox, and later on when I got into
high school, we used to come up here for opening Day.
We came up four or five years in a row,
my buddies and I. We took the bus. Later on
we had driver's licenses and cars, so we drove up.
But before I could do that, I would get the
ninety eight cent transistor radio at Woolworths. And now remember

(53:11):
those little ear plugs that went on that radio. So
I would put that radio in my corduroy pants pocket
and I would get that ear plug and I would
run it up through the sleeve of my shirt and
then I could have it in my hand. No one
could see the wire. I'd have the headphone there and
I'd put my hand up to my ear, put my
elbow on the desk, and I'd look at the teacher
and listen to the Red Sox on opening Day. So

(53:31):
that was one of my little tricks. If it was
the worst thing I ever did, well, I'd be lucky.
But it was a lot of fun back then in school.
I think the education that we receive in this country
is terrific. The generation now sort of carry their own
badge of honor coming of age is very difficult, and
I think the times that we come of age and
the surroundings when we do, have a large effect on

(53:54):
how we will later govern the country, how we will respond.
In the workforce, things are getting a little bit crowded.
My backyard was twenty seven acres. We had a lot
of land around us, and that's not the case anymore.
We are getting closer and closer together, and as we do,
we find that we have opportunistic challenges. And you know,

(54:16):
healthcare is a big challenge, especially for seniors, and I
think we're making some advances on that. We hope that
we will create a way to manage the immigration problem,
and we hope for at least some headway in the
energy crisis that we're facing with these extremely high energy prices.
We'd like to see stability. Of course, volatility is always

(54:37):
tough to manage. We can overcome volatility with dollar cost averaging,
but we have to pick high alpha picks. Those of
you who have come in understand it already. It's very
simple to do. It's not rocket science, as they say.
I said that to a man once in my office.
I said, it's not rocket science. He said, well, I
got to tell you something. I'm a rocket scientist. I
work for Brad and Whitney and I do rocket engines.

(54:59):
I said, oh, okay, then this is going to be
easy for you. But he's a nice guy. So again
you're finding I am not selectively outraged right here. We're
looking for things that are right, and we're looking to
eliminate mistakes. Remember, my clients and you, folks, most of you,
we're not greedy people. We are trying to preserve, we're
trying to protect, and we're trying to provide for people

(55:22):
other than ourselves, So we don't need to be selectively
outraged to do that. I do think there are some
absurdities of life that occur in the financial markets especially,
and we do like to point them out to you
from time to time, But for the most part, we're happy.
If you're a senior, we're trying to protect what we have,
preserve it, grow it a little bit, pass it along,

(55:44):
and while you're at it, ladies and gentlemen, remember to
spend some dough. Use that money. If you do have
a considerable amount saved for retirement and you are retired,
use some of it for enjoying the better things in life.
A trip, a cruise with people you love. Give those
extra gifts now while you're here. I've never heard anyone
had a funerals say when they looked at the person

(56:06):
in the casket, gee he took too many trips, or boy,
he had too much insurance, or geez, he had too
many good times. So enjoy it while you can have fun.
And that's important, mainly because our time here, while it's
a gift, it's limited.

Speaker 3 (56:22):
Cal Kelly Financial Services eight eight eight hundred eighteen eighty one.