Kelly Financial: Saturday, May 31, 2025

Episode Transcript

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

Speaker 2 (00:14):
So good morning, dear Boston. I'm John Budris and Kelly Financial.
Safe Money Strategies indeed carries on every Saturday morning right
here on WRKO six point eight on the AM dial
and online from just about anywhere. Well, we are now

(00:37):
at a week after Memorial Day. We are actually on
the very day in eighteen sixty eight when the very
first Memorial Day was celebrated in Ohio, and that celebration
was very specific. It was to commemorate the end of

(00:58):
the Civil War and to honor all of those who
gave their lives in that battle. In that war, that
more Americans died than all of the world wars and
Vietnam and Korea and Afghanistan and Iraq all put together.
That's how deadly that Civil War was. And so now

(01:20):
a week out of our official Memorial Day, I hope
you keep those who gave their lives for this country
still in your prayers, not just on Memorial Day, but
every day. Well, we have a lot on the show today.
We will of course be hearing from the advisors at
Kelly Financial, and missus Kelly and I are going to

(01:40):
be talking about a subject that i'd like to characterize
as confidence. We're going to be talking about confidence in
retirement planning and confidence in the wisdom of generations who
are older than we are in helping God that planning.

(02:01):
But it reminds me of a very true story that
I would like to share with you all today. So
many of you knew that for many years, almost twenty
five I lived on Martha's vineyard, and this is a
tale about one of my neighbors. And he shared it
with me, and it was a story when he was
a young man with a young family. He had several children,

(02:26):
I think at the time maybe four, and well, to
tell you the truth, he didn't have a job. And
he said to me, you know, John, I didn't have
a pot to pee in or a window to throw
it out of. But he had an idea, and he
went to the local banker at the local national bank,

(02:46):
and he made an appointment, sat down across the desk
and made a proposal. He said, Sarah, what I would
like is alone now. And this was back in the
seventies when thirty five thousand dollars was a considerable loan,
and he asked the banker to give him that, and
the banker asked, well, why, and what collateral do you have.

(03:10):
He had a home with a large mortgage, so he
had really no collateral in that sphere, but he had character.
And he sat across from that banker who knew him
as a friend and as a neighbor, and he said,
I will give you that character alone, and he wrote
a check to him for thirty five thousand dollars so

(03:32):
he could write a book, his first book. He'd never
written a book before, and he wrote a book about
the Johnstown Flood, which happened on this day today in
eighteen eighty nine. And that writer who got that character
loan from someone who had confidence in him was the

(03:52):
late great David McCullough, who went on to be one
of America's greatest and most profound, proficient, and wonderful writers,
the winner of many Pulitzer Prizes. That's what confidence is.
You can look across a generation and say I'll help you.
We'll be right back.

Speaker 3 (04:16):
Safe Money Strategies with John Budris and Kelly Kelly called
Kelly Financial on eight eight eight eight hundred, eighteen eighty one.
We'll go to Kellyfinancial dot org.

Speaker 4 (04:33):
Good morning, dear friends, and dear listeners. I'm Kelly Kelly,
and welcome to our Safe Money Strategy show on this
fine Saturday morning. I'm joined by my handsome and insightful son,
William Kelly Junior, for our Forever Young segment where we
chat about life each week.

Speaker 5 (04:53):
Good morning William, Good morning Mom.

Speaker 2 (04:55):
Wow.

Speaker 6 (04:56):
It's a pleasure to be introduced by you every time,
always an amazing compliment on the way my pleasure.

Speaker 2 (05:02):
Consider myself very blessed.

Speaker 6 (05:04):
I think I'm blessed for our listeners, the type of
listeners we have, the type of clients we have, the
type of prospects that we meet. And I have an
announcement for all of you, ladies and gentlemen, every kind
of person listening. For the past year, I've been working
on a product, a super secret project that very few

(05:26):
people know about, and I have truthfully, ladies and gentlemen,
I have put a lot of time and as much
effort as I physically could to make sure that it
helps a certain type of people, a certain group of people.
I truly hope that it does do its job. And

(05:48):
I'm not going to tell you what it is yet,
ladies and gentlemen, because that would just be too easy.

Speaker 2 (05:51):
Wouldn't it. That would just.

Speaker 6 (05:53):
Be too good.

Speaker 5 (05:54):
So this is just a teaser.

Speaker 2 (05:56):
It's a teaser of a teaser.

Speaker 5 (05:58):
Okay, you're gonna you'll learn more the pezer of a teaser.

Speaker 2 (06:03):
Yes.

Speaker 6 (06:04):
So this product has definitely been among a passion projects
that I've had, among the passion projects that I've had
during my gap year, and I have dedicated.

Speaker 2 (06:18):
A lot of effort and a lot of energy into this.

Speaker 6 (06:21):
So when it does come out for public use and consumption,
I hope that ladies and gentlemen, I hope that it
will be very useful to the certain group of individuals
that you know in your life. And ladies and gentlemen,
you all know somebody. I guarantee you all know somebody

(06:42):
who's among this group of people. So I'll leave it
at that, and I'm not saying anything more.

Speaker 5 (06:48):
So I love it. I love it.

Speaker 4 (06:50):
William do keep us on your dial. We've got a
great lineup ahead. Mike du said and Greg Workman will
break down how the Bucket strategy helps maintain steady retirement
income while managing market ups and downs. If you're looking
for clarity, control, and confidence, this segment is for you. Mary,

(07:11):
Madeline Kelly and Greg Murray take on the generational shift
in financial advice, what still works, what was changing, and
how to stay focused in a noisy world. John Boudris
and I will explore the retirement confidence gap, why some
families are prepared and others are not, and what you
can do today to close that gap and protect your legacy.

(07:35):
And of course we'll wrap up the hour with some
wit and wisdom from Bill Kelly. That's it for forever.
Young thank you for listening, and William, thank you for
joining me this morning.

Speaker 5 (07:46):
I love you, Honey, I love you too.

Speaker 6 (07:48):
Mom, and do I.

Speaker 2 (07:57):
I'm John Boudris and welcome to a new edition of
Kelly Financials. What would Bill say? The wit and wisdom
of the late Bill Kelly, who today tests time time.
You don't have as much left today as you had yesterday.
It's the rule of science. When's the best time to
plant a tree twenty years ago? When's the second best

(08:17):
time to plant a tree tomorrow?

Speaker 5 (08:19):
Today?

Speaker 7 (08:20):
Whenever you can get to it, that's the next best time.

Speaker 2 (08:22):
There's no time like the present to begin saving, planning,
and enjoying retirement. So download our consumer guide simply called
a Happy Retirement and find six secrets of how you
can spend your time to cultivate happiness and a retirement
well lived. Go to Kellyfinancial dot org or call eight

(08:43):
eight eight eight hundred eighteen eighty one to spend some
time with one of our financial advisors.

Speaker 5 (08:49):
Time, ladies and gentlemen, it's not too late.

Speaker 2 (08:51):
We are Kelly Financial. Come retire with us.

Speaker 3 (08:56):
Safe money strategies prull to you by Kelly finan Services
cool eight eight eight eight hundred eighteen eighty one. We'll
go to Kelly Financial dot org. Come retire with us.

Speaker 8 (09:11):
Okay, my friends, Summer's almost here. Beaches, barbecues, road trips,
It's the season we all look forward to. But let
me ask you, is your retirement ready for summer? Whether
you're still working or already enjoying the golden years, now
is the time to make sure your money is working
as hard as you did. That's where Kelly Financial Services

(09:32):
comes in. They're fiduciary advisors, real professionals. They sit down
with you with no pressure, and they help you build
a retirement strategy that fits your lifestyle. Kelly Financial believes
you don't need to sacrifice your lifestyle to save. You
just need a smart plan. The Kelly team helps you
stretch every dollar without sacrificing the joy. So call now

(09:55):
eight eight eight eight hundred eighteen eighty one schedule your
freak consultation today eight eighty eight eight hundred eighteen eighty one,
or email Kelly at Kelly Financial dot org. That's Kelly
at Kelly Financial dot org.

Speaker 1 (10:13):
Welcome back to another episode of Safe Money Strategies. I'm
Mike Ducett, chief operating officer at Kelly Financial, and joining
me once again is my colleague and investment advisor, Greg Workman.

Speaker 9 (10:24):
Good morning, Greg, Good morning Mike. Great to be here
with you and our listeners.

Speaker 1 (10:28):
Today's topic is something that's really foundational to how we
help clients plan for retirement, something called the bucket strategy.
It's a powerful framework, especially for those entering or already
in retirement. And let's be honest, Greg, things sure have
changed from the retirement planning days of the nineteen seventies
and eighties, There.

Speaker 2 (10:47):
Is no question about it.

Speaker 9 (10:49):
If you lived through those decades, you probably remember high inflation,
wild fashion, and incredibly high interest rates. In nineteen eighty one,
for example, the average rate on a six month CD
was over thirteen percent. This meant retirees could live off
their interest without ever touching their principle right.

Speaker 1 (11:12):
And don't forget most people back then also had pensions.
That steady income, combined with high CD and bond yields,
made retirement a very different experience.

Speaker 9 (11:22):
For the past two decades, we've been living in a
mostly low interest rate environment and that's made it harder
for retirees to generate income. The result people are having
to save more, work longer, reduce their lifestyle, or take
more investment risk than they're really comfortable with.

Speaker 1 (11:43):
Thankfully, interest rates have come back in recent years, but
even so, retirement planning today takes more strategy, and that's
where the bucket approach comes in.

Speaker 9 (11:53):
This idea was popularized by financial planner Harold Evinsky and
it's something we use regularly at Kelly Financial Services. At
its core, the bucket strategy organizes your retirement savings in
two segments or buckets, based on when you will need
your nest egg.

Speaker 1 (12:14):
So instead of looking at your portfolio as one big number,
you break it up into time based components. Each bucket
has a different purpose, and together they give you a
structured income strategy and provides both stability and growth.

Speaker 9 (12:30):
Let's start with bucket one, the short term bucket. This
is where you hold cash and other liquid assets to
cover your near term expenses, typically one to two years worth.

Speaker 1 (12:42):
It's not designed to grow, it's not flashy. This is
your safety net, your reserved to cover day to day
living costs and retirement. Think checking accounts, savings, money market funds,
and maybe short term CDs.

Speaker 9 (12:55):
So how much goes into bucket one? Here's how we
break it down with our clients. Start by estimating your
annual retirement expenses, then subtract fixed income like social Security
or a pension. Whatever is left is what your portfolio
needs to cover.

Speaker 1 (13:15):
Let's say your expenses are seventy thousand dollars and social
Security covers forty thousand. That leaves a thirty thousand dollars gap.
You'd want at least thirty thousand dollars in bucket one,
or sixty thousand if you want a two yeah cushion.

Speaker 9 (13:31):
For more conservative retirees, we sometimes recommend even more, and
some people choose a two tier bucket one, one portion
in cash, the other in short term bond funds that
may offer a bit more yield but still very low risk.

Speaker 1 (13:48):
Don't forget about including an emergency fund here too, for
unexpected expenses like medical bills, home repairs, or a major
car issue.

Speaker 9 (13:56):
The next step is bucket two, the inter idi term bucket.
This is where you generate income for years three through
ten of retirement. This bucket might include high quality bonds,
conservative allocations, dividend paying stocks, and other income producing investments.

(14:16):
The goal here is stability with some level of growth.
You want it to grow, but you can't afford wild
swings here.

Speaker 1 (14:26):
Exactly, Bucket two acts as your income engine. As you
deplete bucket one, you refill it from bucket two using
the interest and dividends generated or from occasional sales when
markets cooperate.

Speaker 9 (14:39):
A lot of people ask why not just spend directly
from bucket too? Well, that can work, but the structure
of the bucket strategy provides flexibility and consistency. You want
your short term needs clearly separated from your longer term.

Speaker 1 (14:57):
Investments, which brings us to bucket three, the long term
growth bucket. This is where you hold your stocks and
other higher risk, higher reward assets.

Speaker 9 (15:07):
Exactly, Bucket three is designed for your money that you
won't need for ten years or more. Since you've got time,
you can afford to invest in things with more volatility
but also greater potential for upside.

Speaker 1 (15:20):
And that growth is important because it helps your portfolio
keep up with inflation and potentially extend how long your
money lasts.

Speaker 9 (15:28):
Now here's where the bucket strategy really works. When markets
are up, you can trim gains from bucket three and
move them into buckets two and one to rebalance, in
other words, going from growth to moderate to conservative. But
during a market downturn, you're not forced to touch the
growth bucket at all. That's the power of having a

(15:52):
structured income plan because you can avoid selling investments at
a loss just to cover your bills.

Speaker 1 (15:59):
Let's pause here for a quick break. When we come back,
we'll talk about how to maintain and manage your buckets
over time. You're listening to safe money strategies brought to
you by Kelly Financial Services. We'll be right back.

Speaker 3 (16:13):
Kelly Financial Services, eight hundred eighteen eighty one.

Speaker 1 (16:18):
I believe that this nation should commit it zel achieving
the goal of landing a man on the Moon and
returning him safely to the Earth.

Speaker 2 (16:27):
Six five four three two one zero All engine.

Speaker 5 (16:34):
Run, Look got on a follow eleven.

Speaker 2 (16:38):
Remember those Apollo Moon missions one of America's greatest adventures
and achievements too. The nation set a goal and then
realized it. What are your goals? At Kelly Financial Services,
We've got the right team and technology to help launch
your retirement planning. Let us help you set and reach

(16:58):
your goals for your greatest adventure and achievement and call
us at eight eight eight eight hundred and eighteen eighty
one or visit us at Kellyfinancial dot org. Where do
you want to land with? Thank Galitybay, Here.

Speaker 10 (17:12):
Be Ale, I have landed.

Speaker 2 (17:14):
We are Kelly Financial Services. Come retire with us.

Speaker 3 (17:19):
The money Rap with Kelly Financial Advisors Greg Murray and
Mary Madeline Kelly.

Speaker 2 (17:25):
Good morning.

Speaker 11 (17:26):
This is Greg Murray, Senior Vice president and Chief Compliance
Officer at Kelly Financial Services. Joining me today is Mary
Madeline Kelly, one of our wealth advisors. How are you
doing today?

Speaker 10 (17:35):
Good morning, Greg. I am doing great. Summer feels closer
than ever lately, and I hope this warm weather will
stick now and not tease us anymore.

Speaker 5 (17:44):
How are you doing?

Speaker 11 (17:45):
I'm doing great? I agree, I hope this weather does continue,
especially since we are getting close to an important day
for me. I would rather not be turning forty in
the rain.

Speaker 10 (17:54):
You are hitting another major milestone around the same time.
Fifteen years at Kelly Financial. I've official known you for
more than half of my life. That is crazy. Anyways,
today we are diving into some new data from Gallup
on where Americans turn from financial information and advice. And
there's one trend that really caught our attention.

Speaker 11 (18:14):
Right and that's the growing divide between younger and older
Americans in terms of who they're actually trusting with their
financial future. According to a Gallup poll, only twenty seven
percent of adults aged eighteen to twenty nine say they
go to financial advisors or planners for advice.

Speaker 5 (18:29):
Meanwhile, more than half.

Speaker 11 (18:30):
Of adults sixty five and older are working with a
financial advisor.

Speaker 10 (18:34):
That's a huge gap, and it raises a question why
are younger people bypassing professional advice. Is it cost, accessibility,
or maybe just a belief that they can find answers themselves.

Speaker 5 (18:44):
Online all the above. Probably.

Speaker 11 (18:46):
The data shows that forty two percent of young adults
rely on social media or financial websites for advice. Now,
I love a good financial blogger podcast, but there's a
big difference between general information and a customized retirement plan.

Speaker 5 (19:00):
You right there.

Speaker 10 (19:00):
A TikTok video or Instagram reel might give you a
sixty second hack on how to save five dollars, but
it's not going to help you map out a tax
efficient withdrawal strategy or evaluate long term care costs.

Speaker 11 (19:13):
And that's where I worry, because if younger people are
relying mostly on friends, social media, and internet searches, they
might not be getting the kind of planning they need
to build a strong retirement foundation.

Speaker 10 (19:23):
Absolutely, let's think about this. The older generations, those fifty
and up are more likely to work with professionals, and
it shows they're generally entering retirement with pensions, multiple sources
of income, instructured investment strategies.

Speaker 11 (19:38):
Yes, and they've had time to benefit from compound interest,
tax defer growth and income planning. Meanwhile, some younger investors
are caught up in high risk trends, crypto memestocks and
not thinking long.

Speaker 10 (19:49):
Term, or even just not investing at all because they're overwhelmed.
The irony is professional advice could simplify things, reduce anxiety,
and actually help them build more wealth over time.

Speaker 11 (20:01):
And there's another takeaway from the Gallup data, only eight
percent of people sixty five plus that they read financial books,
but fifty one percent of them are working with a planner,
so it's less about diying their finances and more about
learning on experience and trust and guidance.

Speaker 10 (20:16):
Whereas with the younger crowd, thirty percent said they read
financial books, but few are taking the next step and
building relationship with a professional. They're learning, which is great,
but they may not be implementing exactly.

Speaker 11 (20:28):
Knowledge without a plan is like having a gym membership
and never going. You feel like you're doing something, but
you're not seeing the results.

Speaker 10 (20:35):
So what's the impact of all of this down the road. Well,
if millennials in Gen Z continue to delay financial planning,
they may hit forty or fifty and realize they're way
behind on retirement savings.

Speaker 11 (20:48):
And then they'll either have to work longer, spend less
in retirement, or rely more heavily on government programs, which
may not be enough, Which is.

Speaker 10 (20:56):
Why we're encouraging younger folks listening today. Don't wait until
you feel wealthy enough to get help. You build wealth
by getting help early.

Speaker 11 (21:04):
That's right, and good advisor meets you where you are
whether you're starting your first job or entering retirement, it's
not about how much money you have today, it's about
the decisions you make with it.

Speaker 10 (21:13):
And for our older listeners, you already know the value
of professional planning. You've likely seen firsthand how it's helped
you stay on track through markets ups and downs.

Speaker 11 (21:22):
So if you're a parent or grandparent, talk to your
kids and grandkids about the importance of financial planning. Share
your experience. Sometimes that conversation can spark action.

Speaker 10 (21:31):
And for anyone listening, no matter your age, if you're
ready to build a solid plan, we're here to help.
You can always reach out to us here at Kelly Financial.

Speaker 11 (21:39):
And remember, the best time to plan a tree was
twenty years ago. The second best time is today.

Speaker 10 (21:44):
Absolutely well, thank you for your time, Greg, and have
a great weekend.

Speaker 3 (21:48):
To get in touch with Greg Murray or Mary, Madeline
Kelly or any member of the Kelly Financial team, call
aight a eight eight hundred eighteen eighty waters Safe Money
Strategies with John Budris.

Speaker 2 (22:03):
And Kelly Kelly.

Speaker 3 (22:05):
Call the team on eight eight hundred eighteen eighty one.

Speaker 6 (22:09):
And characters.

Speaker 2 (22:13):
And we are back. I'm John Boudris, the co host
of safe money strategies, and as always, thanks for joining
me this morning. We live in a world where retirement
looks very different for everyone, and it feels different too.
For some it's the finish line. For others, it's a
kind of a foggy road ahead, and we need some

(22:34):
good fog lights now. What's interesting is how these feelings
can vary from one generation to the next. The baby boomers,
Gen X, Millennials, gen Z. They're all walking the same path,
you might say, but not with the same kind of confidence.
Today we're digging into the why. Why are some generations

(22:56):
charging ahead with optimism while others are holding back, maybe
with fear terror even I mean, I don't think that's
an exaggeration. So what's really behind those differences? Well, dear listeners,
retirement isn't just about numbers. It's not only a math game.
It's about a mindset, motivation. Then the world you grew

(23:16):
up in, from disappearing pensions to rising expectations. We're taking
a look at how these trends have shaped each generation's
outlook on financial independence. Joining me today as she does
every Saturday, most every Saturday, is Kelly Kelly, the CEO
of Kelly Financial Services, and she knows how to bring

(23:38):
clarity when there's confusion and retirement. Kelly, good morning.

Speaker 4 (23:43):
Good morning, John, Happy to be here with you on
this Saturday.

Speaker 2 (23:47):
Let's start with the big picture. We've got four generations
in the workforce or headed toward retirement, all facing very
different financial realities. What stands out most to you, Kelly?

Speaker 4 (24:01):
I would say that the generational divide a striking of
all the generations. Gen Z is the most optimistic, and
about seventy five percent of them believe they'll retire how.

Speaker 5 (24:15):
And when they want.

Speaker 4 (24:17):
Millennials follow close behind at seventy one percent, but jen
X only about fifty three percent of them say the same.
When it comes to Baby boomers, even though they're already retiring,
many are facing the real cost of living in today's economy.

Speaker 2 (24:37):
So why is jen X struggling the most?

Speaker 4 (24:39):
Well, John, they're the sandwich generation, supporting both aging parents
and growing kids, and that puts major pressure on their
income and savings goals.

Speaker 2 (24:51):
It's no wonder they feel pulled in too many directions.
Are the younger generations just naive or is there something
they're doing?

Speaker 5 (25:00):
That's a very good question.

Speaker 4 (25:02):
Younger generations are actually starting earlier with savings, which is smart.
They've had the benefit of four oh one ks and
digital financial tools that did not exist for boomers.

Speaker 2 (25:15):
So when we talk about optimism from Gen Z and millennials,
how much of that is confidence or is it just inexperience.

Speaker 4 (25:24):
Honestly, I would say a bit of both. I mean,
if you think about it, they have not hit the
same life milestones yet, like mortgages, having dependents or health concerns,
so their retirement expectations have not been tested. And they're
more likely to use financial apps, automation and social sharing

(25:45):
around money, and that gives them a different kind of
financial visibility than the earlier generations had.

Speaker 2 (25:53):
Are millennials in that much better shape compared to others?

Speaker 4 (25:58):
Millennials have started early with four oh one ks and
using tech to manage money, but many are still burdened
by student debt and high housing costs. Their challenge is
building momentum while wages and inflation pulled them in opposite directions.

Speaker 2 (26:15):
And of course I raise my hand here what about
the boomers. They're retiring now or already retired, but are
they doing it confidently?

Speaker 4 (26:25):
Many boomers are retiring out of necessity for some is
health reasons, layoffs or caregiving duties. While some are secure
thanks to pensions or paid off homes. Others are relying
heavily on social security or part time work. The cost
of healthcare and housing are real concerns for this group.

(26:48):
Confidence really depends on preparation and not age necessarily.

Speaker 2 (26:53):
So it sounds like every generation is navigating a different
kind of balancing act.

Speaker 4 (26:59):
That's ry Boomers are trying to make savings last, while
gen X is trying to catch up. Millennials are building,
but gen Z is just starting out. But across the board,
the message is the same. They all need a plan
and they need to act.

Speaker 5 (27:17):
Now.

Speaker 2 (27:18):
We spoke a bit about pensions, Kelly, they really are
becoming unicorn center gone for most people who are younger
than fifty. How's that affecting confidence.

Speaker 4 (27:29):
Pretty dramatically, John, Nearly half of today's retirees still have
pension income, but for pre retirees like gen X and millennials,
it's all for a one ks and Iras the responsibility
to manage retirement has shifted from the employer to the individual.

Speaker 2 (27:50):
It's a lot to ask. Not everyone's a financial planner, exactly.

Speaker 4 (27:55):
That's why the stakes are much higher now. They can't
set it and forget it. They need a real strategy.

Speaker 2 (28:03):
So, if pensions are disappearing, is social Security picking up
the slack?

Speaker 4 (28:07):
Social Security is still a pillar, but is not a
full solution For younger generations. There's real uncertainty about what
benefits will look like down the line. It was never
meant to be their only retirement income, but for millions
that's exactly what has become.

Speaker 5 (28:27):
There is good news.

Speaker 4 (28:28):
A financial advisor can help create a catchup strategy tailored
to their income and goals.

Speaker 2 (28:36):
So are we ever going back to the pension days
or is this individual responsibility here to stay?

Speaker 4 (28:44):
John, I wouldn't count on pensions making a comeback, at
least not in the private sector. What we may see
instead are hybrid models and more tools to help people
simulate a pension like oncome. But ultimately yes, up to
the individual.

Speaker 5 (29:01):
Now.

Speaker 2 (29:02):
So we've talked today about gaps and confidence. What's one
of the best ways to close that gap?

Speaker 5 (29:08):
Contact us.

Speaker 4 (29:10):
Our Kelly advisors are fiduciaries who don't just look at
retirement accounts, but help build out a plan.

Speaker 5 (29:17):
They can tailor.

Speaker 4 (29:18):
Strategies to age, risk tolerance and goals. It doesn't have
to be a one size fits all.

Speaker 2 (29:26):
And if our listeners are still unsure about their readiness,
what else can they do?

Speaker 4 (29:31):
Our free investor publication, my book Retire Your Fear, Plan
Your Future, can certainly help. It covers all the important
retirement topics like social Security four oh one KS and
iras or how to find the right advisor that retirees
and pre retires should know about regardless of which generation

(29:54):
they are in.

Speaker 2 (29:55):
As always very useful, Kelly, Thanks so much. To get
the guide and make a compliment appointment with the Kelly
Financial Advisor, call eight eight eight eight hundred eighteen eighty
one or email Kelly at Kellyfinancial dot org. It's all
the time we have for now. Thanks so much for
joining me. When we come back, we're shifting from individual

(30:15):
challenges to collective wisdom. I'll talk about the role of family,
the lessons we passed down and how we can close
that confidence gap for good. You're listening to Safe Money
Strategies the radio show heard right here on WRKO and
streaming on the iHeart app. We're in our twentieth year broadcasting,

(30:36):
so thanks for tuning in. And stay tuned and we
will be back in just a minute.

Speaker 3 (30:43):
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 2 (30:54):
Ready to enjoy your golden years without worry. At Kelly Financial,
we know retirement planning can be overwhelming. With more than
twenty one years of experience, our friendly team of advisors
makes it easy and stress free. Trust us to help
you create a secure and enjoyable future. For a free
initial retirement consultation, called eight eight eight eight hundred eighteen

(31:16):
eighty one or email Kelly at Kellyfinancial dot org. We're
Kelly Financial. Come retire with us.

Speaker 3 (31:24):
Safe Money Strategies with John Boudris.

Speaker 2 (31:27):
I'm Kelly, Kelly.

Speaker 3 (31:28):
Call the team on a eight eight hundred eighteen eighty
one agrees.

Speaker 2 (31:34):
That I'm John Budris, the co host of Safe Money Strategies.
Thanks for joining me this morning. Retirement for sure, is
not a solo journey. It's a family affair. What we
believe about money, what we pass on, and how we
prepare the next generation. All starts at the dinner table,

(31:56):
not in the board room or across some big table
in a fancy office. We've already talked about who's ready
and who's not. In this half of the show, we're
turning our attention to the ripple effect, how grandparents and
parents can be the foundation of financial literacy, how inflation

(32:17):
is reshaping everyday retirement decisions, and how bringing in the
right kind of help like a trusted fiduciary advisor can
make all the difference at every life stage, no matter
how young, no matter how old. So let's talk about
how we get ready together. Because when generations share this knowledge,

(32:38):
set clear plans, and seek expert guidance, they create something
really powerful. So to explain how we build this confidence
connected future, let's bring back in Kelly Kelly, the CEO
of Kelly Financial Services. Kelly, good morning again. I hope
you have your coffee number two.

Speaker 4 (32:59):
Good morning on I have certainly had my coffee number
two and I am happy to be back with you
on this Saturday morning.

Speaker 2 (33:08):
So, Kelly, we've already talked about the generational gaps when
it comes to confidence levels in retirement planning. People, of course,
should not go it alone.

Speaker 4 (33:19):
People should not go it alone, and is very important
to ask for help and to get some answers.

Speaker 2 (33:26):
So let's start with the role of family in retirement planning.
Are some generations more likely to involve family in retirement
decisions and does that help or does it hurt their confidence?

Speaker 5 (33:39):
Well?

Speaker 4 (33:39):
As we mentioned earlier, Gen X is often stuck in
the middle. They are supporting both kids and aging parents,
but doing it quietly. Boomers, if they're healthy and proactive,
are more likely to initiate legacy planning, while Gen Z
is surprisingly open to financial tea.

Speaker 5 (34:00):
More confidence grows.

Speaker 4 (34:02):
When families align on goals, whether the shared housing, caregiving plans,
or long term savings.

Speaker 2 (34:10):
I read that spending quote time with family is still
one of the top motivators for retirement planning across every generation.
I mean, that's what I want to do.

Speaker 4 (34:21):
That's true. It's a great opportunity for retirement planning. By
having honest conversations between the generations, we see that those
intergenerational bonds are where the retirement confidence gap starts closing.

Speaker 2 (34:37):
And yet for a lot of families, talking about money
is still taboo. Our younger generations changing.

Speaker 4 (34:44):
That they are, especially millennials and Gen Z, and they're
more comfortable sharing financial goals and even struggles, but older
generations often hold their cards close to the vest, which
can create a disconnect. If we want to boost retirement confidence,

(35:05):
we need to normalize these talks across generations.

Speaker 2 (35:09):
What does that look like in practice? Is this about
inheritance planning or is it about something that's deeper.

Speaker 4 (35:17):
It's actually much deeper, John, It's about passing on values
like discipline, generosity, and delayed gratification. Boomers and Gen xers
have a chance to model thoughtful planning, and millennials and
Gen z can bring energy and digital savvy. Each generation

(35:38):
brings something to the table.

Speaker 2 (35:40):
So really, retirement confidence is it just about having the
right numbers. It's about having the right conversations exactly.

Speaker 4 (35:49):
Retirement confidence grows when families communicate clearly and plan together.
No generation can or should go it alone anymore. Collaborate
duration is the new safety net.

Speaker 2 (36:02):
Okay, let's talk about boomers and retirees. What role are
they playing in building this next generation's confidence.

Speaker 4 (36:11):
They can model smart financial behavior by sharing lessons, contributing
to education funds, and even teaching grandkids how to budget.

Speaker 2 (36:21):
I mean, a legacy doesn't have to be cash. I
mean it can be wisdom.

Speaker 4 (36:25):
Absolutely the knowledge they passed down could outlast any trust fund.
Teaching the why behind money decisions now, that's powerful.

Speaker 2 (36:35):
And it's never too early to start those lessons right.

Speaker 4 (36:39):
As we've discussed before, the earlier the better kids pick
up money habits by watching how we spend, how we save,
and talk about finances. Even a simple chat at the
grocery store can be a teachable moment.

Speaker 2 (36:55):
How do you suggest grandparents start that conversation without its
sounding like a lecture.

Speaker 5 (37:00):
I'd say make it personal.

Speaker 4 (37:02):
Share stories like the mistakes they made or how they
save for their first home. Kids and grandkids respond to
real life examples more than financial jargon. Storytelling makes it relatable.

Speaker 2 (37:17):
What then about their adult children? Can retirees play a
role there too?

Speaker 4 (37:22):
They can, whether it's talking about a state, plans, long
term care, or financial boundaries. Open dialogue builds trust. It
also reduces confusion and resentment later. That's part of the legacy,
transparency and clarity.

Speaker 2 (37:40):
Are you seeing more boomers step up in this way?

Speaker 4 (37:43):
John is growing boomers realize their influence doesn't just end
with retirement. Many want to be mentors, not just memory makers.
They lived through recessions, inflation, housing, booms, you name it,
and that insight is gold if is shared.

Speaker 2 (38:02):
So in some ways, this generation retired or near retired
might be the key to restoring confidence across the board.

Speaker 5 (38:12):
I believe.

Speaker 4 (38:13):
So they've got the experience, and if they're willing to
speak up and model good habits, they can become a
living blueprint for financial resilience. That's how generational strength, not
just wealth, is built.

Speaker 2 (38:28):
So while we are on the topic of boomers, let's
talk inflation. They are really feeling that heat, aren't they.

Speaker 4 (38:35):
They are about forty seven percent say the rising cost
of living is their top financial hurdle. It makes sense
since they're on a fixed income. Every jump in the
price of food, fuel, or healthcare hits harder.

Speaker 5 (38:51):
That kind of.

Speaker 4 (38:51):
Volatility erodes confidence and lifestyle.

Speaker 2 (38:55):
That's tough when you've stopped earning a paycheck and you're
watching your nesting shrink in real time.

Speaker 4 (39:01):
Exactly, and it's not just boomers. Every generation is impacted,
just differently. For retirees is about preservation. For younger folks
is about whether today's paycheck stretches to tomorrow's needs and
retirement savings.

Speaker 2 (39:17):
So younger generations, millennials and Gen Z they don't feel
it in the same way, yet not always.

Speaker 4 (39:24):
They've seen inflation on the news or at the gas pump,
but they haven't lived through decades of compounding costs like
boomers have. They often underestimate how inflation chips away at
purchasing power over time, which is dangerous for long term planning.

Speaker 2 (39:41):
So what should people be doing at any age to
protect themselves.

Speaker 5 (39:46):
Three things.

Speaker 4 (39:47):
First, build a diversified portfolio that includes inflation resistant assets. Second,
revisit their plan regularly and don't set it and forget it. Third,
is the budget in today's dollars but forecast in tomorrow's realities.
Retirement confidence starts with realistic numbers, and a fiduciary advisor

(40:10):
can help with all of that.

Speaker 2 (40:12):
As a refresher, Kelly, if someone's never worked with the
financial advisor before, what should they be looking for?

Speaker 4 (40:19):
Start with finding a fiduciary who's an advisor legally obligated
to act in their client's best interests. They should be
someone who listens more than they talk, who takes the
time to understand the full financial picture, and someone they
can trust for the long haul.

Speaker 2 (40:37):
So related then to confidence gaps between the generations, how
can a fiduciary advisor help bring those groups closer? What
are the same level of readiness?

Speaker 4 (40:49):
It starts with personalized guidance. At Kelly Financial, our advisors
understand how important it is to meet each generation where
they are. Whether it's helping gen z understand compound interest
or walking boomers through income distribution. Age doesn't matter. Our
advisors can help replace confusion with clarity.

Speaker 2 (41:12):
What other available resources would you recommend? For those who
still have some questions.

Speaker 4 (41:17):
They should read our free investor publication, my book, Retire
Your Fear, Plan Your Future. Every chapter, whether is the
importance of planning longevity, market volatility, or long term care insurance,
has the answers for retirees and pre retirees of any age.

Speaker 2 (41:39):
It's very reassuring. Kelly. Thank you so much. To get
the guide and make a complimentary appointment with a Kelly
Financial advisor called eight eight eight eight hundred eighteen eighty
one or email Kelly at Kellyfinancial dot org. It's all
the time we have for now, and thanks for joining me.
You're listening to Save Money Strategies the radio show heard

(42:01):
right here on WRKO and streaming on the iHeart app.
We're in our twentieth year broadcasting, So thanks for that,
Stay tuned, and we will be back in a New
York committed.

Speaker 4 (42:13):
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

(42:36):
eighteen eighty one or email Kelly at Kellyfinancial dot org.
We're Kelly Financial. Come retire with us.

Speaker 1 (42:45):
Welcome back to safe money Strategies. I'm Mike du Said
with Greg Workman, and we're breaking down the bucket strategy,
a powerful way to structure your retirement income. Before the break,
we covered how the three buckets work. Now let's look
at how to maintain them over time, because the real
magic is in the ongoing management.

Speaker 9 (43:04):
That's right, as you spend from your conservative bucket or
Bucket one, you will want to refill it regularly. Here's
a common sequence we use. Interest and dividends from all
buckets can flow back into Bucket one. If more is needed.
Along the way, you rebalance, taking gains from the moderate

(43:25):
or the growth bucket, respectively, Bucket two or bucket three.
As a last resort, you may use principle from bucket two,
especially in a low return environment.

Speaker 1 (43:35):
The idea is to never be forced to touch bucket
three when the market is down. That way, you preserve
your long term growth assets and avoid locking in losses.
It's about trusting the long term trend of market growth,
avoiding emotionally driven decisions, and giving your investments time to recover.
It's not just about avoiding losses, it's about giving yourself

(43:56):
the best chance to achieve your financial goals.

Speaker 9 (43:59):
If you withdraw money from your investments during a market downturn,
you're locking in losses by selling assets when they're down.
A retirement income plan helps you avoid this pitfall by
building in buffers like cash reserves, so you don't have
to sell at a bad time. This directly addresses the

(44:19):
sequence of returns risk, the danger that poor market returns
early in retirement, combined with your withdrawals, can severely reduce
your portfolio's longevity.

Speaker 1 (44:33):
In Remember, the bucket strategy isn't set in stone.

Speaker 5 (44:36):
It's flexible.

Speaker 1 (44:37):
You can adjust the number of buckets, the asset mix,
and how frequently you refill based on your personal needs.
Speaking frequently with our clients is essential to ensure that
we have a clear and evolving understanding of their desired
retirement lifestyle, life circumstances, financial markets, health and personal goals
can all change over time, and regular check ins allow

(44:59):
us to adjust their retirement plan accordingly. These ongoing conversations
help us stay aligned with their vision for the future,
proactively address any concerns, and make thoughtful adjustments to their
investment strategy, or withdraw our approach.

Speaker 9 (45:15):
By maintaining an open and consistent dialogue, we reinforce trust
and provide clients with the confidence that their retirement plan
remains on track no matter how their needs or the
stock market evolves. The key is aligning your strategy with
your lifestyle, risk tolerance, and time horizon.

Speaker 1 (45:37):
Our retirement planning process is designed to give clients clarity, confidence,
and control over their financial future. We follow a disciplined
five step approach discover, analyze, develop, implement, and review to
create a personalized, written retirement income plan tailored to each
client's unique lifestyle goals and financial situation.

Speaker 9 (45:59):
The Kelley findinancial process begins with discovery. In this phase,
we take the time to get to know our clients
on a personal level. We ask in depth questions to
understand their retirement vision, financial goals, income needs, lifestyle preferences,
health considerations, and family dynamics. We also review all relevant

(46:22):
financial documents, including investment accounts, pensions, social security projections, real
estate and other assets. This step is about more than numbers.
It's about uncovering what truly matters to the client so
we can build a plan that reflects their values and aspirations.

Speaker 1 (46:43):
With a full understanding of the client's financial and personal situation,
we move into the analysis phase. We assess their current
financial position, including cash flow, risk tolerance, tax exposure, and
potential gaps between income sources and retirement expenses. We use
sophisticated planning tools to help run projections based on various scenarios,

(47:04):
including market fluctuations, inflation, and longevity. This detailed analysis helps
identify risks and opportunities that will shape the strategy moving forward.

Speaker 9 (47:15):
In the development phase, we create a comprehensive written retirement
income plan. This includes recommended strategies for income generation, investment, allocation,
social security optimization, tax efficiency, healthcare planning, and legacy goals.

(47:35):
The plan is designed to provide a reliable income stream
while managing risk and preserving long term growth potential. We
clearly explain each recommendation so clients understand how the plan
supports their goals and lifestyle.

Speaker 1 (47:52):
Once the plan is approved, we move into the implementation phase.
This involves putting the strategies into action, restructre shuring investments,
initiating income streams, coordinating with tax or legal professionals if needed,
and setting up the necessary accounts. We ensure that the
transition is smooth and aligned with the plans objectives.

Speaker 9 (48:13):
Retirement income is dynamic, and regular reviews are crucial to
keeping the plan on track. We meet with our clients
on an ongoing basis to monitor their progress, update for
changes in life or the market, and we make necessary
adjustments along the way. This ongoing relationship helps ensure the

(48:35):
plan stays relevant and effective, providing lasting peace of mind
throughout retirement.

Speaker 1 (48:42):
If all of this sounds helpful, but maybe a bit overwhelming,
that's where we come in. At Kelly Financial Services. We
specialize in building retirement income plans that are both stable
and customized, and we'd love to help you take the
next step.

Speaker 9 (48:55):
Call us today at eight eighty eight eight hundred eighteen
eighty one once again triple eight eight hundred eighteen eighty one,
or visit us online at Kellyfinancial dot org to schedule
your complementary retirement income analysis. Your retirement should be stress free,

(49:16):
not filled with guesswork. Let's build a strategy that gives
you clarity and confidence. Thanks for joining us today, until
next time.

Speaker 1 (49:25):
I'm Greg Workman and I Mike you said, join us
next week for more safe money strategies.

Speaker 8 (49:35):
Joining us now, as she always does at this time.
She is the co founder, the CEO, and the president
of Kelly Financial Services, and yes, that is her wonderful.

Speaker 5 (49:49):
Name, Kelly Kelly Kelly, How are.

Speaker 4 (49:54):
You Good morning, Jeff? I am good. As we head
into Memorial Day weekend, many of us are reflecting on
the sacrifices that gave us the freedoms we enjoy today.
It's a meaningful time to think about what really matters,
our values, our families, and the legacy we hope to leave.

(50:15):
At Kelly Financial Services, we believe legacy means more than
passing down wealth. It's about passing on wisdom, especially financial wisdom.
We work with parents and grandparents who want to equip
their children and grandchildren not just to inherit money, but
to understand how to use it.

Speaker 5 (50:34):
With clarity and purpose.

Speaker 4 (50:36):
When young people learn to budget and save, they gain
something greater than money, They gain independence. Our advisors are
objective partners, helping families align their financial plans with their
values and goals for future generations. To speak with a
Kelli advisor, give us a call or email Kelli at

(50:57):
kelifinancial dot org, or go to our website for the
radio rewind Jeff wishing you and your listeners a safe
and meaningful Memorial Day weekend.

Speaker 8 (51:07):
Thank you, Kelly, have a wonderful Memorial Day weekend. All
the best to you, your family and everyone at Kelly Financial.
What Kelly just said now is completely right. This is
very important. If you want to get a copy of
the guide, it's free. Call eight eight eight eight hundred
eighteen eighty one eight eight eight eight hundred eighteen eighty one,

(51:30):
or you can email Kelly herself Kelly at Kellyfinancial dot org.
That's Kelly at Kellyfinancial dot org.

Speaker 3 (51:43):
Safe Money Strategies A eight eight hundred one eight eight one.

Speaker 7 (51:50):
The people we love are the people for whom we plan.
That never stops. Folks who come into my office have
the same things in mind, almost to a person. They
want to the assets they have, grow them a little bit,
use a portion for themselves, and pass on what's left.
That planning process is called preservation, growth, and distribution. Our
clients want to be able to fend for themselves, to

(52:12):
enjoy life, to have some vacations, and to increase their
net worth. These are good aspirations. They also want to
help their children and loved ones as they journey through life.
This is part of the estate planning process. In order
to pass something along, you have to first preserve it.
The estate planning process is the topic of my book,
Senior Safe Money Strategies. We need to keep that process

(52:35):
in mind when we're investing. Being sure we utilize models
for capital preservation, asset allocation, and growth with possible income.
We can then create a scenario in which that income
is defined and projected, giving us goalposts, milestones and checkpoints
to follow. Having a son late in life has understandably

(52:57):
made a big difference in how I think about my practice.
I have changed many things in anticipation that William may
be running the company someday. This means I might have
to extend my horizons by practicing for another twenty years.
Having these goals has done a lot for me. They
inspire me to do a better job every day by
improving upon the things that occupy me on a regular basis.

(53:17):
Those include my radio show. The radio show is different,
as those of you who tune in realize, you never
know what you're going to hear from the complex mind
of Bill Kelly, but you can always be sure it
will come straight from the heart. I mean what I say,
and I definitely say what I mean because my listeners
and readers have no time for poking between the lines.

(53:38):
Our son is a miracle, of course. When doctor Ali
told us we were going to have a child, the
first words out of his mouth were, you're going to
have a child, and it's a miracle.

Speaker 5 (53:49):
He was right.

Speaker 7 (53:50):
William certainly has been a miracle. We are very fortunate
and want you to know there are miracles in your life.
We witness the miracle of life through our children and grandchildren.
Question death and what happens to our loved ones when
they pass on, it's a mystery of faith. Faith receives
and love gives. That's the story of people who plan

(54:10):
for those who will survive them. We want you to
keep that in mind at all times as part of
your financial and estate planning. For me, the miracle takes
the form of tiny little William Kelly, who runs around
the house constantly smiling and always getting into something. William
hasn't been sick one day of his life and always
sleeps through the night. Great medical care gave us a

(54:30):
wonderful start for this child.

Speaker 2 (54:32):
We are truly.

Speaker 7 (54:33):
Blessed, and I know you, my friend, are experiencing blessings
in your life in many different ways. I am pleased
to be one of them. If and when I can be.

Speaker 3 (54:44):
So, call Kelly Financial Services eight hundred eighteen eighty one.

Speaker 4 (54:50):
I'm Kelly Kelly from Kelly Financial. Retirement is a time
to enjoy the fruits of your labor, but is also
a period when financial stability comes more critical than ever,
so seeking expert financial advice is essential, regardless of your age.
Professional guidance insureds your assets are allocated wisely, helping your.

Speaker 5 (55:12):
Money last as long as you need it.

Speaker 4 (55:14):
The advisors at Kelly Financial will help you take charge
of your financial future and preserve your hard earned wealth
to enable you to focus on the retirement you've dreamed of.
We have a free investor guide called designing your Fiscal
House to Weather the Elements, which highlights the steps needed
to build a balanced portfolio. For the guide and a

(55:36):
free consultation with a Kelly advisor, call eight eight eight
eight hundred eighteen eighty one or email Kelly at Kellyfinancial
dot org. We're Kelly Financial. Come retire with us.

Speaker 3 (55:50):
Senior safe money Strategies with John Budris and Kelly Kelly
eight eight eight hundred one eight eight one.

Speaker 2 (55:58):
The news break is coming up, and during the break,
take the time to give a call at eight eight
eight eight hundred eighteen eighty one and make that all
important first step to secure your retirement future. Talk things
through with a financial advisor about any aspect of retirement
or money management, whether it's your portfolio, concerns about healthcare,
or if you're tossing around the idea of relocating or

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

(56:41):
So call us at eight eight eight eight hundred eighteen
eighty one or visit us at Kelly Financial dot org
and raise a toast to your financial future. Eight eight
eight eight hundred eighteen eighty one. Kelly Financial Services with
offices in Braintreet and Burlington. All right, see you next week.

Speaker 9 (56:59):
All opinions expres esipyed the Host, his guests or employees
of Kelly Financial Services are solely their own and do
not reflect the opinions of Kelly Financial Services.

Speaker 2 (57:05):
Information has been obtained from sources deemed to be reliable,
but their accuracy and completeness cannot be guaranteed. The information
provided as general in nature and is not intended to
be specific investment, tax or legal advice. It is always
advisable to consult a professional before making a financial decision.

Speaker 9 (57:17):
The host is a client of Kelly Financial Services in
exchange for hosting the Safe Money Strategies Show and providing
testimonials of his personal experience as a client of Kelly
Financial Services.

Speaker 2 (57:25):
Kelly has waive the host's advisory fee in full. Because
of this arrangement, where the host receives compensation in the
form of a fee waiver, the host has an incentive
to recommend Kelly Financial Services, resulting in a material conflict
of interest,