November 22, 2025 • 24 mins
This week on Safe Money Strategies, Kelly Kelly and her son, William Kelly Jr., open Forever Young with a warm, timely conversation about the season of giving. William shares exciting news his new book Only the Good Invest Young is now officially available on Amazon, with in-office copies arriving soon for clients and listeners who would like one. Kelly and William also talk about the Kelly Financial Christmas Toy Drive and the firm’s holiday 11 AM–1 PM drop-in event on Saturday, December 6th at both the Braintree and Burlington offices, where clients and listeners are invited to stop by, bring an unwrapped toy for a child, say hello, and pick up a holiday treat.
From there, Mike Doucette and Greg Workman take a close look at what today’s market environment may mean for retirement portfolios and what smart positioning looks like heading into year-end.
Mary Madeline Kelly and Greg Murray follow with an important update on 401(k) catch-up contributions, explaining what’s changing for 2025 and how those adjustments may factor into long-term retirement planning.
Later in the hour, Kelly and William return with a practical conversation about real-life planning, the kind that gives families clarity, confidence, and continuity across generations.
And as always, the show closes with a meaningful moment of Wit and Wisdom from the late Bill Kelly, stories that continue to inspire the families he served so faithfully.
Make Safe Money Strategies part of your Saturday night tradition. Have questions or want to schedule a complimentary consultation? Call 888-800-1881 or email kelly@kellyfinancial.org.
See omnystudio.com/listener for privacy information.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
Good evening and welcome to Safe Money Strategies right here
on WBZ News Radio. I'm Kelly Kelly, founder of Kelly
Financial Services, and your host tonight. I'm so glad you're
with us. Every Saturday night at nine pm, we bring
you real conversations about retirement, resilience and protecting the life
(00:27):
you've worked so hard to build. We're a proud, family
run firm based right here in New England, and for
over twenty two years, we've helped thousands of families plan
for the next chapter with clarity and confidence. You may
know us from our two decades on the AM airwaves,
and now we're thrilled to bring that same trusted voice
(00:50):
to WBZ. This show is about more than just money.
It's about peace of mind purpose in making smart decisions
that support the people you love. Each week, I'm joined
by my children, William Kelly Junior and Mary Madeline Kelly,
along with our incredible team of fiduciary advisors. Together, we
(01:11):
share practical strategies, personal stories, and a few laughs along
the way. We'll cover everything from inflation and taxes to
InCom planning, market trends, and how to leave a lasting legacy.
Because retirement isn't. The end of the story is the
beginning of a new one. So if you're winding down
(01:32):
for the evening, pour something relaxing, settle in and spend
a little time with us. You're in good company and
we're glad you're here. This is Safe Money Strategies where family, finance,
and your future come together.
Speaker 2 (01:50):
Safe Money Strategies with Kelly Kelly and your team. Call
Kelly Financial at eighty eight eight hundred and twenty and
one or go to Kelly Financial dot org. That's Kelly
at financial dot org.
Speaker 1 (02:08):
Each week on Safe Money Strategies, we take a moment
to step back from the headlines and have a real conversation,
the kind you might have around the kitchen table. This
is the part of the show we call Forever Young
is where I sit down with my son, William Kelly
Junior and we talk about life, what's going on in
the world, and our family and what really matters most
(02:30):
when you're planning for the future. Sometimes it is light,
sometimes it's thoughtful, but it's always real. Good evening. William,
how are you mom?
Speaker 2 (02:40):
I'm fine?
Speaker 1 (02:40):
How are you I'm doing great.
Speaker 2 (02:42):
That's awesome to hear. And what's also awesome to hear
is my book is its flying off the shelf.
Speaker 1 (02:49):
Ladies, It sure is, William.
Speaker 2 (02:51):
I will say those of you who purchase it on Amazon,
first off, I want to say thank you very much.
You'll receive it a lot quicker if you're in a
rush again the book on Amazon. But that's a side note.
Don't be afraid to please leave a review, and that's
a great way to get some feedback. It also kind
of helps me see how you guys rate my book,
and it means a lot to me. And furthermore, if
(03:13):
you're awaiting a copy, our supplies are coming in. It
takes a bit longer to get author copies than it
does for you to get direct copies shipped you from
Amazon for some reason. So those copies will be coming
in I'd say within the next coming weeks, and maybe
even sooner than that. And I'm looking forward to our
event in December, early December, December sixth, if I'm correct, right.
Speaker 1 (03:35):
And what's the second day on Saturday?
Speaker 2 (03:37):
On Saturday.
Speaker 1 (03:38):
It's on Saturday, and it's from eleven until one pm,
and we have we'll have both offices open. That's right,
Braintree in Burlington and we will be accepting unwrapped toys
for our toy drive, and you will be in Burlington.
I will be in Burlington as well, and we'll be
(03:59):
greeting people. Well it's just dropped by, and we'll have
like a gift bag for you, and you'll be signing
books for those who want a book.
Speaker 2 (04:07):
And right, if you come and drop off a toy out,
gladly sign a book for you and we'll hand you one.
Speaker 1 (04:13):
And yes, yes, and our team will also be at
our brain Tree office if that office is more convenient
for you, and we'll have some of Bill William's books
there as well.
Speaker 2 (04:24):
Oh yeah, absolutely, So come give to people who need toys,
especially kids who are a little unfortunate and can't get it,
so it would mean the world to them. Yes, and
it's toys for tots.
Speaker 1 (04:36):
Right, No, it's actually Interfaith Social Services. Okay, it's the
organization that we have spent some time in their pantry.
Speaker 2 (04:47):
I remember, Yeah, I know they're fantastic people. Oh my gosh.
You know those folks are there on top of their game.
They know how to run an organization. And I remember
we went to the food pantry. Yes, and I mean
they have.
Speaker 1 (04:59):
A I think we worked to like four hours.
Speaker 2 (05:01):
Yeah, it was a decent chunk.
Speaker 1 (05:03):
Yes, it was great.
Speaker 2 (05:04):
I think we're going to do it again because we
really honestly, it's it's very satisfying. They do a fantastic
I think they help a lot of people. They do,
They truly do. I mean, you're you're just serving car
after car, person after person.
Speaker 1 (05:17):
If they don't have a car, you were delivering it outside, right.
Speaker 2 (05:20):
Well, you do it outside and then you also come
and you you refill the car. So you do it
in shopping carts. You fill up the cart and then
you bring it around the circle. It's kind of like
a conveyor belt system. And then you exit the building,
you go over to the car, you fill the car,
you pack it up for them. So you tell them
stay in the car, don't leave the car, stay in
there because sometimes they'll get out, they'll feel bad and
(05:42):
they want to help out. But first off, we want
to do the service, and then second off, it also
actually saves more time if we just do everything and
you go so, you know, because there are a lot
of you know, mouths, we got to feed a lot
of food, we got to give away, so it's you know,
it's just bang bang bang bang bang. So but anyways,
what I'm trying to say is they're amazing.
Speaker 1 (06:00):
People and yes, a great organization.
Speaker 2 (06:03):
Yeah. So your your toys are going to a good place.
Speaker 1 (06:06):
True, true, so exciting. So what else? What else? We've
got Thanksgiving coming up?
Speaker 2 (06:12):
That's right, that's gonna be a big deal. Yes, we're
gonna have some turkey. Uh no, Kooner's this time. Family Yes, yes,
and it'll just be.
Speaker 1 (06:23):
A Canadian family, that's.
Speaker 2 (06:24):
Right, small family unit. I think John might be joining us,
we'll see. He is good. Yes, so whatever meal is
going to be cooked is going to be delicious.
Speaker 1 (06:33):
Of John's joining us, yes, so then he'll meet Mary.
Mattlin's a boyfriend.
Speaker 2 (06:37):
Oh, Timmy, Timmy's coming up.
Speaker 3 (06:40):
You are hilarious.
Speaker 2 (06:41):
Timmy's not his real name. Timmy is what we call
him on the show to protect his identity because I
don't want anything bad happening to Timmy. I don't want
to dox him. He's a great guy.
Speaker 1 (06:51):
Oh you're funny. You two team up?
Speaker 2 (06:53):
Oh yeah, absolutely, And I'm very I'm grateful for Timmy
because you know, he has the intellectual capacity to kind of,
you know, work with me and to get you know,
to how to dig very madeline a little bit. So
I'm very grateful for you know, him in our lives.
He's also a fantastic guy. He's just a down to
earth man, very humble, very sure of himself. He is.
(07:15):
Oh yeah, no, he's he's a great guy. And I
think we're gonna have a great Thanksgiving together. I'm excited
for that, agreed.
Speaker 1 (07:25):
I know we'll have good food.
Speaker 2 (07:26):
Oh yeah, we will.
Speaker 1 (07:27):
And there'll be plenty of dogs here.
Speaker 2 (07:29):
Oh jeez, I forgot about that. That's gonna be a
lot of fun.
Speaker 1 (07:33):
We'll have Georgia of course, yeah, the Queen Mallie, that's right,
we'll be calming. And John's dog Mamie.
Speaker 2 (07:41):
Oh boy, you don't know if Timmy's bringing his dogs? Yes, yeah,
so those puppies they're great dogs. But there's this one
who is a little large and he's still a puppy
and so he's a little wild. He doesn't have a
bad bone in his body. Don't get me wrong. He's
a great dog, but he may you know, that tail
a little too hard break something. You know, he's running around.
(08:03):
He's just he's a big dog. He's kind of like
a Doberman mix. You know, he needs to go outside
and run eight pounds, yeah, eighty five pounds of flailing limbs,
as Timmy puts it. And uh, Now the other dog,
she's kind of a like a street mont. She's a rescue.
Just the sweetest angel on planet Earth. Reminds me of
Dixie a lot our our our old car and terrier
(08:25):
who passed away. And she just she just is such
a love bug, super grateful, loves to play, just not
as wild as the first dog. So you know, hopefully
the first one will maybe be out his mom's farm
or something like that.
Speaker 1 (08:39):
That he would be the one to take the turkey
off the table.
Speaker 2 (08:42):
He would he would eat the whole thing. Yes, and
like I could so see that under fifteen minutes, maybe
even five, he'd eat the whole turkey. I completely believe it. Bones,
maybe even less a couple of bones. True. Yeah, he'll
jump on the counter, he'll get it. So that's our
Thanksgiving plan.
Speaker 4 (08:59):
That dog.
Speaker 2 (09:00):
Sadly, we'll be banned, no big dog, no Benji. It's
going to be sad. So we'll say anyway thing. We
hope everybody has a happy Thanksgiving.
Speaker 1 (09:10):
Absolutely, and do keep us on your dial. We've got
a lot of great content coming your way. Mike do
Set and Greg Workman will break down whether today's market
is truly overheated and what smart positioning looks like Right now. Mary,
Madeline Kelly and Greg Murray will share the latest updates
to four A one K catch up contributions and what
(09:33):
these changes could mean for your retirement strategy. I will
be back with William and we will talk about how
real life planning gives families clarity, confidence and a path forward.
And of course we'll close the hour with some wit
and wisdom from the late Bill Kelly. His words continue
to inspire and guide us. That's a wrap for forever
(09:56):
young Thank you for listening, and William, thank you for
joining us. We'll be back with more great content. I
love you, honey, I love you too.
Speaker 2 (10:07):
Call us today at eight eight hundred and twenty eighty
one or visit us online at Kellyfinancial dot org to
schedule your complimentary retirement income analysis.
Speaker 1 (10:20):
I'm Kelly Kelly from Kelly Financial. Whether you're in your forties, fifties,
or sixties, financial advice is important when it comes to
preserving your nest egg. We have a free investor guide
called Designing your Fiscal House to Weather the Elements, which
highlights the steps needed to build a balanced portfolio. For
the guide, call eight eight eight eight hundred eighteen eighty
(10:42):
one or email Kelly at Kellyfinancial dot org. We're Kelly Financial.
Come retire with us.
Speaker 5 (10:53):
Welcome back to Safe Money Strategies, the show where we
help you build confidence in your financial future. Mike, you said,
chief operating officer at Kelly Financial.
Speaker 3 (11:02):
And I'm Greg Workman, investment advisor at Kelly Financial Services.
Speaker 2 (11:07):
Mike.
Speaker 3 (11:08):
This week we are diving into a question that is
on a lot of investors' minds right now. Is the
market overheated?
Speaker 5 (11:16):
It's a great question, Greg, and honestly one that we're
hearing more and more. We've had an incredible run. The
S and P five hundred has pushed to levels that
are making a lot of folks a little uneasy. Some
analysts say valuations is stretched, others think the growth story
still has legs right.
Speaker 3 (11:32):
It's one of those rare times when both bulls and
the bears can make a pretty convincing case. The key
for our listeners is understanding where the risk is, what's
driving today's market and how to think about positioning your assets,
especially for those approaching or already in retirement.
Speaker 4 (11:54):
So let's start with the valuations.
Speaker 5 (11:56):
Historically, we look at the market's price to earnings ratios
to get us of whether we're in normal territory or
in the price for perfection zone.
Speaker 3 (12:04):
Exactly, and right now, a lot of those models, like
the cyclically adjusted price to earnings ratio or CAPE ratio,
they're flashing red or at least bright yellow. One mean
reversion model shows the SNP five hundred trading about seventy
three percent above its long term trend, which is roughly
(12:27):
two standard deviations above normal range.
Speaker 4 (12:30):
That's pretty significant.
Speaker 5 (12:32):
It doesn't mean the market's about to fall off a
cliff tomorrow, but it tells us that prices are running
ahead of fundamentals. In other words, investors are paying a
premium today based on some very optimistic expectations about future earnings.
Speaker 3 (12:45):
And when you buy stocks at high valuations, you're basically
assuming that everything has to go right. The economy stays strong,
inflation behaves, interest rates come down, earnings they keep growing.
There's not much room for error into prices right now.
Speaker 4 (13:02):
That's the risk. High valuations tend to mean lower future returns,
not necessarily in imminent crash, but historically markets that are
this stretched have a tougher time compounding From here.
Speaker 3 (13:13):
The other dynamic here, Mike, is how concentrated this market
has become. The so called Magnificent seven, the big tech
in AI names, while they now make up roughly thirty
seven percent of the S andp's total weight.
Speaker 4 (13:27):
Yeah, that's staggering.
Speaker 5 (13:28):
Think about it, seven companies making up over a third
of a five hundred stock index. It means that the
S Andp's performance is really being driven by very small
number of.
Speaker 3 (13:39):
Stocks, and the issue there is diversification risk. If one
or two of those names stumble, say inernings, miss a
new regulation, or just a rotation out of technology, the
whole index can feel it. Meanwhile, many of the other
four hundred and ninety three companies haven't really been contributing
much to this.
Speaker 4 (13:59):
Year's That's right.
Speaker 5 (14:01):
The headline numbers can make it look like the market's
strong across the board, but when you look under the hood,
participation has been pretty narrow.
Speaker 3 (14:09):
It's kind of like a football team where only a
few star players are carrying the ball every single game.
It works as long as those players stay healthy and
they keep scoring, but if they get injured or tired,
the whole team's performance suffers.
Speaker 5 (14:24):
It makes me think of the Boston Celtics last season.
Everything was looking great and they were well on their
way to winning another title until Jason Tatum went down
with an injury and those expectations changed overnight. For investors,
that means if you're simply buying the index, you might
be taken on more concentrated risk than you realize now.
Speaker 3 (14:43):
To be fair, part of what's keeping valuations high is
the belief that technology and AI will drive a new
wave of productivity and earnings growth. Companies are spending heavily
billions in capital expenditures on data centers, chip infrastructure, and
investors are betting that those investments will pay off big.
Speaker 5 (15:05):
It's the engine behind a lot of today's optimism. Tech
companies now account for roughly thirty percent of S and
P five hundred earnings growth, compared to just ten percent
only two decades ago.
Speaker 4 (15:17):
That's a huge shift.
Speaker 3 (15:18):
It is, but it also comes with risk. Those massive
capital investments assume that the growth does arrive, that AI
actually delivers on its promises, that these technologies scale efficiently
and that costs don't continue to spiral out of control.
Speaker 4 (15:37):
And that's not guaranteed.
Speaker 5 (15:38):
If the growth slows or earnings don't meet expectations, suddenly
those lofty valuations look very expensive. The market's priced for perfection,
but execution risk is high.
Speaker 3 (15:50):
That's where investors can get caught off guard when the
story shifts from incredible growth ahead to we might have
overpaid for that growth.
Speaker 5 (16:00):
So we've got a few ingredients here. High valuations, narrow leadership,
and huge expectations around tech and AI. That combination can
make the market more fragile than it looks right.
Speaker 3 (16:11):
It's a double risk scenario. You've got limited margin for
error and a lot of dependence on a handful of names.
If any part of that story weakens, whether it's earnings, regulation,
or investor sentiment, the premium that's baked in can evaporate quickly.
Speaker 5 (16:30):
Which is why from a safe money perspective, this is
a time for thoughtful positioning, not panic, not overreaction, but awareness.
You can't control the market, but you can control how
exposed you are to it.
Speaker 3 (16:42):
Absolutely. It's about being selective, balancing risk assets with safer
income producing ones, diversifying across sectors and maybe dialing back
exposure to areas that have run too far, too fast.
Speaker 5 (16:58):
In the second half of this evening show, we'll look
at the bull and bear cases, what could drive the
market higher from here, what could knock it off balance,
and some smart strategies to position yourself either way.
Speaker 3 (17:11):
Plus we'll talk about some practical steps retirees and pre
retirees can take right now to help protect what they've built,
and how ours Safe Money Strategies workbook can help you
evaluate your exposure.
Speaker 4 (17:25):
Stick around. We'll be right back after the shortbreak.
Speaker 1 (17:31):
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 becomes 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
(17:52):
money last as long as you need it. The advisors
at Kelly Financial will help you take charge of your
financial future and preserve your heart 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
(18:13):
build a balanced portfolio. For the guide and a free
consultation with a Kelly advisor called eight eight eight eight
hundred and eighteen eighty one or email Kelly at Kellyfinancial
dot org. We're Kelly Financial. Come retire with us and
we are back. This is Kelly Kelly and I'm here
(18:35):
with my son, William Kelly Junior. Today we are opening
the door to a message that means a great deal
to me, a message at the heart of my book.
Retire your fear, plan your future because planning is not
simply financial. Planning is emotional, it is spiritual. It is
(18:56):
a way of honoring your responsibilities and giving yourself else
the freedom to live your life with confidence.
Speaker 2 (19:03):
Absolutely, Mom, and you know I've heard you share this
message for many years now, both with our listeners and
with families who come to our firm. And the lesson
is always the same. Life can change in an instant,
and the best time to plan is before life forces
your hand.
Speaker 1 (19:18):
That is, right when your father passed away, I became
a widow, a single mom, a client, and the CEO
of this firm, all on the same day. It was
probably the hardest moment of my life. But because we
had planned, I didn't have to rebuild everything from scratch.
(19:40):
The grief was enough, the financial fear did not have
to take over too. Planning allowed me to lead with
strength instead of panic. It allowed me to be present
for you and your sister. And that is why I
tell families plan for the event everyone hopes happens. You
(20:01):
are not planning out of fear. You are planning out
of love.
Speaker 2 (20:05):
And that is something you've always said that faith, family,
and foresight carry you through life storms.
Speaker 1 (20:12):
They truly do, and planning is a part of that.
Foresight is what transforms uncertainty into direction. It is what
allows families to face tomorrow with gratitude instead of anxiety.
Speaker 2 (20:27):
And something I see every day in our conversations at
the office is that no two plans ever look the
same exactly.
Speaker 1 (20:34):
Everyone's plan is unique because everyone's goals are unique, but
the need for a plan is universal. Whether you are
focused on income, social Security, taxes, healthcare, or simply having
enough to enjoy life, what matters most is that you
have outlined a roadmap. When you have a process, instead
(20:58):
of panic, you gain clies. I always say planning formalizes
peace of mind. Once you have that solid foundation, you
are not guessing anymore.
Speaker 2 (21:09):
You are living and that brings us to the next piece,
how long does your plan need to last?
Speaker 1 (21:14):
Longevity is one of the biggest forces shaping retirement today.
People fear running out of money more than they fear dying,
and it makes sense. If you are sixty five today,
you could easily live another twenty to thirty years. That
is a long time to ensure your income lasts.
Speaker 2 (21:33):
And inflation plays into that too, cost double roughly every
twenty five years. That is a huge factor in planning.
Speaker 1 (21:41):
It certainly is, and longevity is not a problem, is
a blessing. It simply means the plan you create needs
to match the length of your life. That is why
income planning is so critical. You want to know that
your retirement is not built on hope, is built on structure.
Speaker 2 (22:00):
You always remind listeners that uncertainty is completely normal. Even
people who have saved well sometimes don't feel confident.
Speaker 1 (22:08):
That is so true. Families often walk into our offices
with the same question do I have enough? And that
is not a silly question, is a wise one. Our
advisors look at your income. You're spending, your goals, your
risk tolerance, your longevity, and your tax strategy. And once
(22:30):
everything is mapped out year by year, that fear transforms
into clarity. You feel empowered, you feel steady, you feel prepared.
That is what planning does. It does not change your
life circumstances, it changes how you navigate them.
Speaker 2 (22:49):
Another big question we hear is whether someone should retire
early or keep working a little longer, and.
Speaker 1 (22:55):
The answer is always it depends. Early retirement can be wonderful,
but healthcare costs before Medicare can be a challenge. Working
longer can grow your savings, increase social security benefits, and
give you more purpose and structure. And we are seeing
more people unretire not because they have to, but because
(23:19):
they genuinely enjoy staying active.
Speaker 2 (23:23):
You've always said plan for the option, not the obligation
to keep working.
Speaker 1 (23:27):
Exactly, that is what a good plan gives you options, flexibility, freedom,
And once you are ready to create that plan, the
next question becomes who do I trust to help me
build it? At Kelly Financial, clients come to our firm
for three reasons values, trust, and knowledge. We are a
(23:49):
fiduciary firm, we are independent, and our advisors put your
interests first. And I always tell people I trust our
advisors with my own money because I am not just
the head of the firm. I am a client too.
Speaker 2 (24:04):
And that is what your book is really about, Real experiences,
real guidance, and real planning, not theory, real life.
Speaker 1 (24:11):
It is And in part two of this series, we
will talk about the long game, long term care, taxes, retirement, income, independence,
and legacy. These are the conversations that help families plan
with confidence.
Speaker 4 (24:27):
So stay with us.
Speaker 2 (24:28):
We'll be right back with part two.
Speaker 1 (24:30):
You are listening to Safe Money Strategies right here on WBZ.
Speaker 2 (24:40):
Safe Money Strategies with Kelly Kelly and her team called
Kelly Financial at eighty eight eight hundred and twenty one,
or go to Kelly Financial dot org. That's Kelly at
Kelly Financial dot org.
Good evening and welcome to Safe Money Strategies right here
on WBZ News Radio. I'm Kelly Kelly, founder of Kelly
Financial Services, and your host tonight. I'm so glad you're
with us. Every Saturday night at nine pm, we bring
you real conversations about retirement, resilience and protecting the life
(00:27):
you've worked so hard to build. We're a proud, family
run firm based right here in New England, and for
over twenty two years, we've helped thousands of families plan
for the next chapter with clarity and confidence. You may
know us from our two decades on the AM airwaves,
and now we're thrilled to bring that same trusted voice
(00:50):
to WBZ. This show is about more than just money.
It's about peace of mind purpose in making smart decisions
that support the people you love. Each week, I'm joined
by my children, William Kelly Junior and Mary Madeline Kelly,
along with our incredible team of fiduciary advisors. Together, we
(01:11):
share practical strategies, personal stories, and a few laughs along
the way. We'll cover everything from inflation and taxes to
InCom planning, market trends, and how to leave a lasting legacy.
Because retirement isn't. The end of the story is the
beginning of a new one. So if you're winding down
(01:32):
for the evening, pour something relaxing, settle in and spend
a little time with us. You're in good company and
we're glad you're here. This is Safe Money Strategies where family, finance,
and your future come together.
Speaker 2 (01:50):
Safe Money Strategies with Kelly Kelly and your team. Call
Kelly Financial at eighty eight eight hundred and twenty and
one or go to Kelly Financial dot org. That's Kelly
at financial dot org.
Speaker 1 (02:08):
Each week on Safe Money Strategies, we take a moment
to step back from the headlines and have a real conversation,
the kind you might have around the kitchen table. This
is the part of the show we call Forever Young
is where I sit down with my son, William Kelly
Junior and we talk about life, what's going on in
the world, and our family and what really matters most
(02:30):
when you're planning for the future. Sometimes it is light,
sometimes it's thoughtful, but it's always real. Good evening. William,
how are you mom?
Speaker 2 (02:40):
I'm fine?
Speaker 1 (02:40):
How are you I'm doing great.
Speaker 2 (02:42):
That's awesome to hear. And what's also awesome to hear
is my book is its flying off the shelf.
Speaker 1 (02:49):
Ladies, It sure is, William.
Speaker 2 (02:51):
I will say those of you who purchase it on Amazon,
first off, I want to say thank you very much.
You'll receive it a lot quicker if you're in a
rush again the book on Amazon. But that's a side note.
Don't be afraid to please leave a review, and that's
a great way to get some feedback. It also kind
of helps me see how you guys rate my book,
and it means a lot to me. And furthermore, if
(03:13):
you're awaiting a copy, our supplies are coming in. It
takes a bit longer to get author copies than it
does for you to get direct copies shipped you from
Amazon for some reason. So those copies will be coming
in I'd say within the next coming weeks, and maybe
even sooner than that. And I'm looking forward to our
event in December, early December, December sixth, if I'm correct, right.
Speaker 1 (03:35):
And what's the second day on Saturday?
Speaker 2 (03:37):
On Saturday.
Speaker 1 (03:38):
It's on Saturday, and it's from eleven until one pm,
and we have we'll have both offices open. That's right,
Braintree in Burlington and we will be accepting unwrapped toys
for our toy drive, and you will be in Burlington.
I will be in Burlington as well, and we'll be
(03:59):
greeting people. Well it's just dropped by, and we'll have
like a gift bag for you, and you'll be signing
books for those who want a book.
Speaker 2 (04:07):
And right, if you come and drop off a toy out,
gladly sign a book for you and we'll hand you one.
Speaker 1 (04:13):
And yes, yes, and our team will also be at
our brain Tree office if that office is more convenient
for you, and we'll have some of Bill William's books
there as well.
Speaker 2 (04:24):
Oh yeah, absolutely, So come give to people who need toys,
especially kids who are a little unfortunate and can't get it,
so it would mean the world to them. Yes, and
it's toys for tots.
Speaker 1 (04:36):
Right, No, it's actually Interfaith Social Services. Okay, it's the
organization that we have spent some time in their pantry.
Speaker 2 (04:47):
I remember, Yeah, I know they're fantastic people. Oh my gosh.
You know those folks are there on top of their game.
They know how to run an organization. And I remember
we went to the food pantry. Yes, and I mean
they have.
Speaker 1 (04:59):
A I think we worked to like four hours.
Speaker 2 (05:01):
Yeah, it was a decent chunk.
Speaker 1 (05:03):
Yes, it was great.
Speaker 2 (05:04):
I think we're going to do it again because we
really honestly, it's it's very satisfying. They do a fantastic
I think they help a lot of people. They do,
They truly do. I mean, you're you're just serving car
after car, person after person.
Speaker 1 (05:17):
If they don't have a car, you were delivering it outside, right.
Speaker 2 (05:20):
Well, you do it outside and then you also come
and you you refill the car. So you do it
in shopping carts. You fill up the cart and then
you bring it around the circle. It's kind of like
a conveyor belt system. And then you exit the building,
you go over to the car, you fill the car,
you pack it up for them. So you tell them
stay in the car, don't leave the car, stay in
there because sometimes they'll get out, they'll feel bad and
(05:42):
they want to help out. But first off, we want
to do the service, and then second off, it also
actually saves more time if we just do everything and
you go so, you know, because there are a lot
of you know, mouths, we got to feed a lot
of food, we got to give away, so it's you know,
it's just bang bang bang bang bang. So but anyways,
what I'm trying to say is they're amazing.
Speaker 1 (06:00):
People and yes, a great organization.
Speaker 2 (06:03):
Yeah. So your your toys are going to a good place.
Speaker 1 (06:06):
True, true, so exciting. So what else? What else? We've
got Thanksgiving coming up?
Speaker 2 (06:12):
That's right, that's gonna be a big deal. Yes, we're
gonna have some turkey. Uh no, Kooner's this time. Family Yes, yes,
and it'll just be.
Speaker 1 (06:23):
A Canadian family, that's.
Speaker 2 (06:24):
Right, small family unit. I think John might be joining us,
we'll see. He is good. Yes, so whatever meal is
going to be cooked is going to be delicious.
Speaker 1 (06:33):
Of John's joining us, yes, so then he'll meet Mary.
Mattlin's a boyfriend.
Speaker 2 (06:37):
Oh, Timmy, Timmy's coming up.
Speaker 3 (06:40):
You are hilarious.
Speaker 2 (06:41):
Timmy's not his real name. Timmy is what we call
him on the show to protect his identity because I
don't want anything bad happening to Timmy. I don't want
to dox him. He's a great guy.
Speaker 1 (06:51):
Oh you're funny. You two team up?
Speaker 2 (06:53):
Oh yeah, absolutely, And I'm very I'm grateful for Timmy
because you know, he has the intellectual capacity to kind of,
you know, work with me and to get you know,
to how to dig very madeline a little bit. So
I'm very grateful for you know, him in our lives.
He's also a fantastic guy. He's just a down to
earth man, very humble, very sure of himself. He is.
(07:15):
Oh yeah, no, he's he's a great guy. And I
think we're gonna have a great Thanksgiving together. I'm excited
for that, agreed.
Speaker 1 (07:25):
I know we'll have good food.
Speaker 2 (07:26):
Oh yeah, we will.
Speaker 1 (07:27):
And there'll be plenty of dogs here.
Speaker 2 (07:29):
Oh jeez, I forgot about that. That's gonna be a
lot of fun.
Speaker 1 (07:33):
We'll have Georgia of course, yeah, the Queen Mallie, that's right,
we'll be calming. And John's dog Mamie.
Speaker 2 (07:41):
Oh boy, you don't know if Timmy's bringing his dogs? Yes, yeah,
so those puppies they're great dogs. But there's this one
who is a little large and he's still a puppy
and so he's a little wild. He doesn't have a
bad bone in his body. Don't get me wrong. He's
a great dog, but he may you know, that tail
a little too hard break something. You know, he's running around.
(08:03):
He's just he's a big dog. He's kind of like
a Doberman mix. You know, he needs to go outside
and run eight pounds, yeah, eighty five pounds of flailing limbs,
as Timmy puts it. And uh, Now the other dog,
she's kind of a like a street mont. She's a rescue.
Just the sweetest angel on planet Earth. Reminds me of
Dixie a lot our our our old car and terrier
(08:25):
who passed away. And she just she just is such
a love bug, super grateful, loves to play, just not
as wild as the first dog. So you know, hopefully
the first one will maybe be out his mom's farm
or something like that.
Speaker 1 (08:39):
That he would be the one to take the turkey
off the table.
Speaker 2 (08:42):
He would he would eat the whole thing. Yes, and
like I could so see that under fifteen minutes, maybe
even five, he'd eat the whole turkey. I completely believe it. Bones,
maybe even less a couple of bones. True. Yeah, he'll
jump on the counter, he'll get it. So that's our
Thanksgiving plan.
Speaker 4 (08:59):
That dog.
Speaker 2 (09:00):
Sadly, we'll be banned, no big dog, no Benji. It's
going to be sad. So we'll say anyway thing. We
hope everybody has a happy Thanksgiving.
Speaker 1 (09:10):
Absolutely, and do keep us on your dial. We've got
a lot of great content coming your way. Mike do
Set and Greg Workman will break down whether today's market
is truly overheated and what smart positioning looks like Right now. Mary,
Madeline Kelly and Greg Murray will share the latest updates
to four A one K catch up contributions and what
(09:33):
these changes could mean for your retirement strategy. I will
be back with William and we will talk about how
real life planning gives families clarity, confidence and a path forward.
And of course we'll close the hour with some wit
and wisdom from the late Bill Kelly. His words continue
to inspire and guide us. That's a wrap for forever
(09:56):
young Thank you for listening, and William, thank you for
joining us. We'll be back with more great content. I
love you, honey, I love you too.
Speaker 2 (10:07):
Call us today at eight eight hundred and twenty eighty
one or visit us online at Kellyfinancial dot org to
schedule your complimentary retirement income analysis.
Speaker 1 (10:20):
I'm Kelly Kelly from Kelly Financial. Whether you're in your forties, fifties,
or sixties, financial advice is important when it comes to
preserving your nest egg. We have a free investor guide
called Designing your Fiscal House to Weather the Elements, which
highlights the steps needed to build a balanced portfolio. For
the guide, call eight eight eight eight hundred eighteen eighty
(10:42):
one or email Kelly at Kellyfinancial dot org. We're Kelly Financial.
Come retire with us.
Speaker 5 (10:53):
Welcome back to Safe Money Strategies, the show where we
help you build confidence in your financial future. Mike, you said,
chief operating officer at Kelly Financial.
Speaker 3 (11:02):
And I'm Greg Workman, investment advisor at Kelly Financial Services.
Speaker 2 (11:07):
Mike.
Speaker 3 (11:08):
This week we are diving into a question that is
on a lot of investors' minds right now. Is the
market overheated?
Speaker 5 (11:16):
It's a great question, Greg, and honestly one that we're
hearing more and more. We've had an incredible run. The
S and P five hundred has pushed to levels that
are making a lot of folks a little uneasy. Some
analysts say valuations is stretched, others think the growth story
still has legs right.
Speaker 3 (11:32):
It's one of those rare times when both bulls and
the bears can make a pretty convincing case. The key
for our listeners is understanding where the risk is, what's
driving today's market and how to think about positioning your assets,
especially for those approaching or already in retirement.
Speaker 4 (11:54):
So let's start with the valuations.
Speaker 5 (11:56):
Historically, we look at the market's price to earnings ratios
to get us of whether we're in normal territory or
in the price for perfection zone.
Speaker 3 (12:04):
Exactly, and right now, a lot of those models, like
the cyclically adjusted price to earnings ratio or CAPE ratio,
they're flashing red or at least bright yellow. One mean
reversion model shows the SNP five hundred trading about seventy
three percent above its long term trend, which is roughly
(12:27):
two standard deviations above normal range.
Speaker 4 (12:30):
That's pretty significant.
Speaker 5 (12:32):
It doesn't mean the market's about to fall off a
cliff tomorrow, but it tells us that prices are running
ahead of fundamentals. In other words, investors are paying a
premium today based on some very optimistic expectations about future earnings.
Speaker 3 (12:45):
And when you buy stocks at high valuations, you're basically
assuming that everything has to go right. The economy stays strong,
inflation behaves, interest rates come down, earnings they keep growing.
There's not much room for error into prices right now.
Speaker 4 (13:02):
That's the risk. High valuations tend to mean lower future returns,
not necessarily in imminent crash, but historically markets that are
this stretched have a tougher time compounding From here.
Speaker 3 (13:13):
The other dynamic here, Mike, is how concentrated this market
has become. The so called Magnificent seven, the big tech
in AI names, while they now make up roughly thirty
seven percent of the S andp's total weight.
Speaker 4 (13:27):
Yeah, that's staggering.
Speaker 5 (13:28):
Think about it, seven companies making up over a third
of a five hundred stock index. It means that the
S Andp's performance is really being driven by very small
number of.
Speaker 3 (13:39):
Stocks, and the issue there is diversification risk. If one
or two of those names stumble, say inernings, miss a
new regulation, or just a rotation out of technology, the
whole index can feel it. Meanwhile, many of the other
four hundred and ninety three companies haven't really been contributing
much to this.
Speaker 4 (13:59):
Year's That's right.
Speaker 5 (14:01):
The headline numbers can make it look like the market's
strong across the board, but when you look under the hood,
participation has been pretty narrow.
Speaker 3 (14:09):
It's kind of like a football team where only a
few star players are carrying the ball every single game.
It works as long as those players stay healthy and
they keep scoring, but if they get injured or tired,
the whole team's performance suffers.
Speaker 5 (14:24):
It makes me think of the Boston Celtics last season.
Everything was looking great and they were well on their
way to winning another title until Jason Tatum went down
with an injury and those expectations changed overnight. For investors,
that means if you're simply buying the index, you might
be taken on more concentrated risk than you realize now.
Speaker 3 (14:43):
To be fair, part of what's keeping valuations high is
the belief that technology and AI will drive a new
wave of productivity and earnings growth. Companies are spending heavily
billions in capital expenditures on data centers, chip infrastructure, and
investors are betting that those investments will pay off big.
Speaker 5 (15:05):
It's the engine behind a lot of today's optimism. Tech
companies now account for roughly thirty percent of S and
P five hundred earnings growth, compared to just ten percent
only two decades ago.
Speaker 4 (15:17):
That's a huge shift.
Speaker 3 (15:18):
It is, but it also comes with risk. Those massive
capital investments assume that the growth does arrive, that AI
actually delivers on its promises, that these technologies scale efficiently
and that costs don't continue to spiral out of control.
Speaker 4 (15:37):
And that's not guaranteed.
Speaker 5 (15:38):
If the growth slows or earnings don't meet expectations, suddenly
those lofty valuations look very expensive. The market's priced for perfection,
but execution risk is high.
Speaker 3 (15:50):
That's where investors can get caught off guard when the
story shifts from incredible growth ahead to we might have
overpaid for that growth.
Speaker 5 (16:00):
So we've got a few ingredients here. High valuations, narrow leadership,
and huge expectations around tech and AI. That combination can
make the market more fragile than it looks right.
Speaker 3 (16:11):
It's a double risk scenario. You've got limited margin for
error and a lot of dependence on a handful of names.
If any part of that story weakens, whether it's earnings, regulation,
or investor sentiment, the premium that's baked in can evaporate quickly.
Speaker 5 (16:30):
Which is why from a safe money perspective, this is
a time for thoughtful positioning, not panic, not overreaction, but awareness.
You can't control the market, but you can control how
exposed you are to it.
Speaker 3 (16:42):
Absolutely. It's about being selective, balancing risk assets with safer
income producing ones, diversifying across sectors and maybe dialing back
exposure to areas that have run too far, too fast.
Speaker 5 (16:58):
In the second half of this evening show, we'll look
at the bull and bear cases, what could drive the
market higher from here, what could knock it off balance,
and some smart strategies to position yourself either way.
Speaker 3 (17:11):
Plus we'll talk about some practical steps retirees and pre
retirees can take right now to help protect what they've built,
and how ours Safe Money Strategies workbook can help you
evaluate your exposure.
Speaker 4 (17:25):
Stick around. We'll be right back after the shortbreak.
Speaker 1 (17:31):
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 becomes 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
(17:52):
money last as long as you need it. The advisors
at Kelly Financial will help you take charge of your
financial future and preserve your heart 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
(18:13):
build a balanced portfolio. For the guide and a free
consultation with a Kelly advisor called eight eight eight eight
hundred and eighteen eighty one or email Kelly at Kellyfinancial
dot org. We're Kelly Financial. Come retire with us and
we are back. This is Kelly Kelly and I'm here
(18:35):
with my son, William Kelly Junior. Today we are opening
the door to a message that means a great deal
to me, a message at the heart of my book.
Retire your fear, plan your future because planning is not
simply financial. Planning is emotional, it is spiritual. It is
(18:56):
a way of honoring your responsibilities and giving yourself else
the freedom to live your life with confidence.
Speaker 2 (19:03):
Absolutely, Mom, and you know I've heard you share this
message for many years now, both with our listeners and
with families who come to our firm. And the lesson
is always the same. Life can change in an instant,
and the best time to plan is before life forces
your hand.
Speaker 1 (19:18):
That is, right when your father passed away, I became
a widow, a single mom, a client, and the CEO
of this firm, all on the same day. It was
probably the hardest moment of my life. But because we
had planned, I didn't have to rebuild everything from scratch.
(19:40):
The grief was enough, the financial fear did not have
to take over too. Planning allowed me to lead with
strength instead of panic. It allowed me to be present
for you and your sister. And that is why I
tell families plan for the event everyone hopes happens. You
(20:01):
are not planning out of fear. You are planning out
of love.
Speaker 2 (20:05):
And that is something you've always said that faith, family,
and foresight carry you through life storms.
Speaker 1 (20:12):
They truly do, and planning is a part of that.
Foresight is what transforms uncertainty into direction. It is what
allows families to face tomorrow with gratitude instead of anxiety.
Speaker 2 (20:27):
And something I see every day in our conversations at
the office is that no two plans ever look the
same exactly.
Speaker 1 (20:34):
Everyone's plan is unique because everyone's goals are unique, but
the need for a plan is universal. Whether you are
focused on income, social Security, taxes, healthcare, or simply having
enough to enjoy life, what matters most is that you
have outlined a roadmap. When you have a process, instead
(20:58):
of panic, you gain clies. I always say planning formalizes
peace of mind. Once you have that solid foundation, you
are not guessing anymore.
Speaker 2 (21:09):
You are living and that brings us to the next piece,
how long does your plan need to last?
Speaker 1 (21:14):
Longevity is one of the biggest forces shaping retirement today.
People fear running out of money more than they fear dying,
and it makes sense. If you are sixty five today,
you could easily live another twenty to thirty years. That
is a long time to ensure your income lasts.
Speaker 2 (21:33):
And inflation plays into that too, cost double roughly every
twenty five years. That is a huge factor in planning.
Speaker 1 (21:41):
It certainly is, and longevity is not a problem, is
a blessing. It simply means the plan you create needs
to match the length of your life. That is why
income planning is so critical. You want to know that
your retirement is not built on hope, is built on structure.
Speaker 2 (22:00):
You always remind listeners that uncertainty is completely normal. Even
people who have saved well sometimes don't feel confident.
Speaker 1 (22:08):
That is so true. Families often walk into our offices
with the same question do I have enough? And that
is not a silly question, is a wise one. Our
advisors look at your income. You're spending, your goals, your
risk tolerance, your longevity, and your tax strategy. And once
(22:30):
everything is mapped out year by year, that fear transforms
into clarity. You feel empowered, you feel steady, you feel prepared.
That is what planning does. It does not change your
life circumstances, it changes how you navigate them.
Speaker 2 (22:49):
Another big question we hear is whether someone should retire
early or keep working a little longer, and.
Speaker 1 (22:55):
The answer is always it depends. Early retirement can be wonderful,
but healthcare costs before Medicare can be a challenge. Working
longer can grow your savings, increase social security benefits, and
give you more purpose and structure. And we are seeing
more people unretire not because they have to, but because
(23:19):
they genuinely enjoy staying active.
Speaker 2 (23:23):
You've always said plan for the option, not the obligation
to keep working.
Speaker 1 (23:27):
Exactly, that is what a good plan gives you options, flexibility, freedom,
And once you are ready to create that plan, the
next question becomes who do I trust to help me
build it? At Kelly Financial, clients come to our firm
for three reasons values, trust, and knowledge. We are a
(23:49):
fiduciary firm, we are independent, and our advisors put your
interests first. And I always tell people I trust our
advisors with my own money because I am not just
the head of the firm. I am a client too.
Speaker 2 (24:04):
And that is what your book is really about, Real experiences,
real guidance, and real planning, not theory, real life.
Speaker 1 (24:11):
It is And in part two of this series, we
will talk about the long game, long term care, taxes, retirement, income, independence,
and legacy. These are the conversations that help families plan
with confidence.
Speaker 4 (24:27):
So stay with us.
Speaker 2 (24:28):
We'll be right back with part two.
Speaker 1 (24:30):
You are listening to Safe Money Strategies right here on WBZ.
Speaker 2 (24:40):
Safe Money Strategies with Kelly Kelly and her team called
Kelly Financial at eighty eight eight hundred and twenty one,
or go to Kelly Financial dot org. That's Kelly at
Kelly Financial dot org.
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