August 16, 2025 • 24 mins
This week on Safe Money Strategies, Kelly and her son William unpack D.C.’s new crime crackdown, RFK Jr.’s push for fairer health coverage, and a few family wins including their Cairn Terrier Georgia’s unbelievable step count. Later, our financial experts cut through the market’s roughest months, show the sandwich generation how to protect their own retirement, and share a 10-year and 5-year checklist to keep your plan on track - ending with timeless wisdom from Bill Kelly.
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
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
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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
income 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 her team called
Kelly Financial at eighty eight eight hundred and twenty and
one or go to Kelly Financial dot org. That's Kelly
at Kelly Financial dot org.
Speaker 1 (02:07):
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 handsome son, William
Kelly Junior, and we talk about life, what's going on
(02:27):
in the world, and our family and what really matters
most when you're planning for the future. Sometimes is light,
sometimes is thoughtful, but is always real. Good evening, William,
how are you.
Speaker 2 (02:40):
I'm fine, mom, Good evening to you as well, and
I'm doing very fantastic. So today in the world, Mom,
there has been a lot of action in the political
side of things in America DC. I'm sure we all
you've been to DC. I'm course, you see we have
family and friends who go to GW. I'm sure we
have a lot of folks who are connected with DC.
(03:01):
You know. I'm sure we know some people who are
in politics in DC. It is the capital of the
United States of America, but it's probably one of the
most dangerous places you can also be simultaneously. This is
the crown jewel of the United States, and it's very dangerous,
and I think that that has been a problem going
on for many years. And whether you look at statistics
or not, even though statistically it is dangerous, but if
(03:23):
you look at statistics or not, all you have to
do is be there or you know people who live there,
which I do, and they'll tell you what the situation
is like. It's a beautiful city. It's like Boston. It
has a lot going for it. It's a gorgeous city.
But like a lot of the major cities in the
United States, it's probably more dangerous than some third world countries,
(03:44):
which is a shame. And I know that's a bold statement,
but it's the truth. And a lot of people who've
traveled to third world countries and considerably dangerous places. We
lived in a high crime area when we moved to
the Dominican Republic. We lived in the city with a
lot of crime, and I felt pretty safe there. I
would say at nighttime it's a different scene. But during
the daytime, you know, you don't wear any jewelry and
(04:06):
you just go and play baseball out in the field
and you know your own So that says something. And recently,
a young kid who was on the Doge team, because
when Elon Musk was spearheading that project months ago, he
hired a bunch of talented young college kids. I think
they're around college age, and one of them was with
(04:26):
his girlfriend in DC and he has a nickname I
can't say on the show, but it's pretty funny. On
August third Sunday, near Logan's Circle, Corstein and his significant
other were approached by a group of ten juveniles attempting
to carjack them. Corstine pushed his girlfriend into the car
so she could drive away, and he remained there to
(04:46):
deal with the carjacker. So if you look up his nickname,
which I'm going to tell you is inappropriate. I would
say his nickname very well applies to him. And for
what he did. He put his girlfriend's priorities before himself
and his girlfriend got out safely with the car. He
was beaten to a pulp and if you look at
the photo, it's atrocious what they did to him. Luckily,
he's okay. Now, Donald Trump decided to go ahead and
(05:08):
do a complete crackdown on DC. Essentially, it's a police
state right now. It's under federal scrutiny. Police are everywhere,
They're on the street everywhere. They're pulling in El Salvador
and they're just removing all the crime. So I believe
it is El Salvador that is currently went from zero
to hero in terms of their recent president, who has
(05:29):
the highest approval rating in any country. He eliminated almost
all the crime, and basically what is happening in DC
is similar to that. So there's been that crackdown. And
to be honest, I don't know what your opinions are
on Donald Trump, ladies and gentlemen, whether you like or
dislike him, that's irrelevant. This is a big win for
(05:51):
the country. I think that safety should be our priority,
and I think that sanctuary cities are kind of a plague,
and I think that they can cause a lot of
destruction that's unnecessary. These are the beacons on the hill.
It's the shining city upon the hill. Boston, DC, you know,
Baltimore at one point, you know Chicago at one point,
(06:11):
you know Detroit. Detroit was an amazing place. And things
are getting slightly better. But crime needs to be handled.
In my opinion, I think that's good news. I think
justice is being served, and I think that these cities
kind of need to be perched a little bit because
the crime is unacceptable. It's that has no place here
in the United States. I don't care who you are
or what you think. I think that's a very agreeable point.
Speaker 1 (06:31):
Great William, So that's.
Speaker 2 (06:33):
One piece of good news there. And there's another good
piece of news in this administration. Robert Kennedy, our fk
JUNR is making his father and his uncle very proud.
They're smiling down from heaven right now. He is cracking
down on health insurance prior authorization. So he's putting a
lot of pressure on these companies right now to limit
(06:53):
their restrictions and to limit the amount of times, they,
you know, make it difficult to get the claims that
people deserve and that people need and that people are
paying for because it has been an abuse system, and
ladies and gentlemen, there is an incentive to deny claims.
The best way to make money for insurance companies is
to deny claims. It gives them the most profit at
this point. I don't know what they were doing beforehand,
(07:15):
but recently health insurance and insurance companies have realized that
if we put a lot of pressure on consumers by
scaring them and making them think that if they want
to get this claim, they have to sue us, which
would make them even more scared because the consumer thinks
that they would lose in a big legal battle, even
though fun facult ladies and gentlemen, if you deserve the care,
then you would win in the legal battle. So I
recommend you sue when you can. This puts pressure on
(07:38):
insurance companies so they don't do that. So Robert Kennedy
has been working really hard in that direction. I think
RF case kicking butt, and I think Donald Trump made
the right decision in terms of the whole martial law thing.
I think DC and a lot of these sanctuary cities
need a quick purge. So excellent.
Speaker 1 (07:54):
Well, we appreciate your thoughts, will you so tell me
what's going on in the personal side.
Speaker 2 (08:00):
Personal side. My gym friend and my copowerlifter. He's got
a meat coming up. He's been prepping for this for
a long time. I already had my meat a while ago,
and so we're doing the same program together. I just
hit four point fifty for five on the back squat,
so I'm staying strong, Ladies and Jellen went excellent. Georgia
(08:21):
is running strong, she's kicking, but that's my dog. My
mom is pulling up her steps today.
Speaker 1 (08:27):
Yah. She's five ninety one, jeez, number three in Caring
Terriers and number five in Rhode Island.
Speaker 2 (08:33):
Holy on this fi app.
Speaker 1 (08:35):
So those of you who have been following us along
with the results of Georgia our car in terrier. She
is moving along. There have been some days where she
hit eighty thousand steps. That is twenty miles for a
dog her size and her marathon.
Speaker 2 (08:52):
That's insane. A marathon, ladies and gentlemen. She needs extra food.
I think she's earned it. I think she's gonna probably
walk even more steps. And the crazy thing is is
that through the farmer's Dog, which is the service that
she gets her food from. It's all natural, you know,
procured food. It's said that for a pro athlete dog,
they need to move over two miles a day, right correct, yeahdies,
(09:14):
and gentlemen, my dog is moving twenty miles like every
couple of days.
Speaker 1 (09:19):
So we changed her from active in her profile to
pro athlete.
Speaker 2 (09:23):
Yes, ma'am. I honestly don't know if that's enough calories.
But she's chasing birds, running around, she's checking out the area.
She'll stop for a little bit and then she'll keep
going and the next thing you know, she's running loops
in our backyard. When she was a puppy, she was
doing it. And she's six years old and it's like
none of that puppy energy has left her at all.
It's hie n n. So we're very proud of you, Georgia.
Speaker 1 (09:45):
Do keep us on your dial. We've got a lot
of great content coming your way, Mike du said, and
Greg Workman will unpack why August and September are historically
the market shakiest months and how a written plan can
keep your retur hirement steady, Mary, Madeline Kelly, and Greg
Murray will share smart strategies for the Sandwich generation to
(10:07):
care for loved ones without sacrificing their own financial retirement.
I will be back with William and together we'll walk
you through your ten year and five year retirement checklist,
practical easy steps to help you plan ahead and step
into retirement with confidence. And of course we'll close the
hour with some wit and wisdom from the late Bill Kelly.
(10:30):
His words continue to inspire and guide us. That's a
wrap for forever young. Thank you for listening, and William,
thank you for joining me. I love you, Honey, I
Love you Toma.
Speaker 2 (10:44):
Call us today at eight eight hundred and eighty one
or visit us online at Kellyfinancial dot org to schedule
your complimentary retirement income analysis.
Speaker 3 (10:59):
Hello and welcome to Safe Money Strategies.
Speaker 4 (11:01):
I'm Mike Ducett, chief operating officer at Kelly Financial Services.
Speaker 3 (11:06):
If you are retired or.
Speaker 4 (11:08):
Thinking about retiring soon, this show is designed especially for you.
We want to help you protect your savings and enjoy
your retirement without the stress of market ups and downs.
Joining me in the studio as he typically does each weekend,
is my colleague, Greg Workman, investment advisor here at Kelly
Financial Services.
Speaker 2 (11:27):
Greg.
Speaker 3 (11:28):
Great to have you.
Speaker 5 (11:28):
Back, Thanks, Mike, great to be here again Tonight. We're
going to talk about something that happens every year but
still surprises a lot of people. The market tends to
be bumpy in August and September.
Speaker 4 (11:41):
Greg, A lot of folks don't realize that August and
September have a long history of being some of the
worst months for stocks. Can you break that down for
our listeners?
Speaker 1 (11:52):
Sure?
Speaker 5 (11:52):
Thing, It's really interesting when you look at the S
and P five hundred, for example, over the past seventy
years has been the weakest month on average. August isn't
far behind either. Analysts say that in September the market
often experiences declines because investors are returning from summer vacations
(12:12):
and adjusting their portfolios before the end of the quarter.
Sometimes economic uncertainty or global events can also contribute.
Speaker 3 (12:21):
So this isn't just random noise. It's a patent we
see again and again exactly.
Speaker 5 (12:27):
And the problem is for retirees who rely on their
investments for income, seeing those dips, it can create a
lot of fear. It's easy to want to sell when
things go down.
Speaker 4 (12:39):
Right, and that's something we talk about a lot here
at Kelly Financial. The biggest threat to your retirement savings
isn't the market itself, it's your emotions.
Speaker 3 (12:47):
Absolutely.
Speaker 5 (12:48):
It's called panic selling. When the market drops, some investors
sell off their stocks in a panic, locking in losses
instead of waiting for the recovery. That behavior is one
of the biggest reasons average investors tend to earn less
than the market.
Speaker 4 (13:05):
The data backs this up too, For years to doll
bar studies have shown that average investors underperform the market
by a significant margin, mostly because they buy high in
good times and sell low when things get scary.
Speaker 5 (13:20):
So how do we help clients avoid that? At Kelly Financial,
we emphasize having a written financial plan, not just a portfolio,
but a roadmap that guides your decisions through every season.
Speaker 4 (13:32):
A written plan gives you clarity on your income sources,
how your money is allocated, and what to do during
market ups and downs. It reduces emotional decision making because
you have a strategy to follow.
Speaker 5 (13:45):
And it answers key questions like how much risk am
I really taking, where is my income coming from, what
happens if the market drops.
Speaker 3 (13:54):
Let me share a story.
Speaker 4 (13:56):
Last year, a couple came to see us just a
few months into retirement. They'd been watching their portfolio fall,
and we're thinking about pulling everything out of stocks to
avoid more losses.
Speaker 5 (14:07):
That's a tough place to be without a plan. It
feels like the only choice.
Speaker 4 (14:12):
Exactly, We sat down with them and created a written
plan tailored to their needs. We separated their assets into buckets.
Some money was set aside and safer investments to cover
living expenses for a couple of years, while the rest
was allocated for growth.
Speaker 5 (14:27):
That gave them the confidence to stay invested and avoid
selling in a downturn. Now, even when markets get shaky,
they know their income is protected. Let's clear up a
big misconception. The myth is if I can time the
market right, I can avoid losses. But here's the fact.
(14:50):
The best days in the market often come right after
the worst. Missing just a few of those uptick days
can seriously re use your long term returns.
Speaker 4 (15:02):
Which is why trying to guess when to get in
and out rarely works. A well crafted plan helps you
stay the course. Greg, one of the things I hear
from clients all the time is how much they appreciate
our regular communication. It's not just about checking on their
rate of return. Our advisors actually spend time reviewing the
(15:22):
whole picture with clients.
Speaker 5 (15:24):
Absolutely, Mike. We don't just send them a statement and
say here's your return. We take the time to explain
why their portfolio performed the way it did, and, most importantly,
any adjustments we made along the way.
Speaker 4 (15:38):
Right for example, if we've shifted some assets to reduce
risk because we see potential market turbulence ahead, we don't
keep that a secret. We want our clients to know
what we're doing and why.
Speaker 5 (15:49):
And beyond performance and changes, we discuss our outlook moving forward,
what economic or market trends we're keeping an eye on,
and how those might impact their financial plan. That kind
of proactive communication gives our clients peace of mind. They
know we're not just sitting back waiting for things to occur.
(16:10):
We're actively monitoring their portfolios and adapting those models as needed.
Speaker 4 (16:16):
It's that peace of mind that often makes the biggest
difference when markets get shoppy, especially in months like August
and September. Clients feel reassured because they know we're on
top of.
Speaker 5 (16:26):
Things exactly, Mike, and I want to emphasize how important
that communication is in avoiding emotional decisions. When clients hear
from us regularly, they're less likely to pan, exel, or
make knee jerk moves.
Speaker 4 (16:41):
One of our clients shared with me recently how during
a particular volatile period, they felt calm because we had
already discussed the possibility of ups.
Speaker 3 (16:50):
And downs in what our plan was to handle them.
Speaker 5 (16:53):
That's the difference a plan plus ongoing dialogue makes. It
turns uncertainty.
Speaker 4 (16:59):
Into greg for listeners wondering if they're getting this kind
of service.
Speaker 3 (17:04):
How often do your clients typically hear from you?
Speaker 5 (17:07):
We'd like to connect at least quarterly, but often more frequently,
depending upon the client's needs or market conditions. Sometimes it's
a quick phone call, sometimes a detailed review.
Speaker 4 (17:19):
Meeting, and during those reviews, it's not just numbers and charts.
It's a conversation about their goals, any changes in their life,
and how their plan fits into that exactly.
Speaker 5 (17:30):
We want clients to feel heard and understood. It's their money,
their future, and we're here to guide them every step
of the way.
Speaker 3 (17:39):
We'll be right back after this shortbreak.
Speaker 4 (17:41):
When we return, Greg and I will dive deeper into
what a written financial plan includes and how you can
get one yourself completely free with no obligation.
Speaker 3 (17:51):
Stay tuned to save money strategies. We'll be right back.
Speaker 6 (17:56):
I'm John Boudris, and welcome to a new edition of
Kelley Financials. What would Bill say? The wit and wisdom
of the late Bill Kelly, who today tests time time.
Speaker 7 (18:07):
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
time to plant a tree tomorrow?
Speaker 2 (18:19):
Today?
Speaker 7 (18:19):
Whenever you can get to it, that's the next best time.
Speaker 6 (18:22):
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
(18:43):
eight eight eight hundred eighteen eighty one to spend some
time with one of our financial advisors.
Speaker 7 (18:48):
Time, ladies and gentlemen, it's not too late.
Speaker 6 (18:51):
We are Kelly Financial. Come retire with.
Speaker 2 (18:54):
Us and we're back. Good to be with you again
for those of you just joining us, this is Safe
Money Strategies where for twenty two years we've been helping
people protect and grow their retirement savings. I'm William Kelly
Junior here with our CEO and my mom, Kelly Kelly.
Speaker 1 (19:13):
It's always great to be back with you, William and
with our listeners, whether you've been with us from the
start of the hour or you're just tuning in now.
Speaker 2 (19:22):
Today we're looking way ahead ten years before retirement and
building a checklist to make sure people are on the
right track.
Speaker 1 (19:29):
That's right. Ten years out is about setting direction. It
might sound early, but that's when some of the biggest,
most impactful decisions need to happen.
Speaker 2 (19:40):
And the more time you have, the more options you have.
So where's the starting point.
Speaker 1 (19:45):
First, nail down your target retirement age and income goals.
Figure out where you are now so you can see
if there's a.
Speaker 2 (19:54):
Gap, kind of like checking your GPS. You can't map
where you're going unless you know.
Speaker 1 (19:58):
Where you are exactly, and check that map every year
so you can make course corrections.
Speaker 2 (20:05):
How specific should the plan be?
Speaker 1 (20:07):
Very specific, actual dollar amounts, a timeline and a vision
for what retirement will look like.
Speaker 2 (20:15):
Should couples do this together?
Speaker 1 (20:17):
Absolutely, retirement affects both people, so the goals and timing
need to be in sync.
Speaker 2 (20:24):
Okay, let's talk about maximizing savings.
Speaker 1 (20:27):
Start with contribution limits and if you're fifty or older,
take advantage of catch up contributions. If you're younger, increase
your savings rate a little each year, and automata if
you can always set it and forget it works. Compound
growth loves consistency.
Speaker 2 (20:46):
Which account should get priority first?
Speaker 1 (20:48):
Your for one K? If you have an employer match,
then I raise once those are maxed out. Look at
a taxable brokerage account. A good advice can guide.
Speaker 2 (21:00):
You and lowering expenses.
Speaker 1 (21:03):
The less you spend, the less you will need in retirement.
Is that simple?
Speaker 2 (21:07):
What about diversification?
Speaker 1 (21:08):
Have a balanced mix of assets, stocks, bonds, and maybe
some alternatives aligned with your time horizon and risk tolerance.
Aligned with your time horizon and risk tolerance, not too aggressive,
not too conservative?
Speaker 2 (21:25):
How often should people review and rebalance their portfolio?
Speaker 1 (21:28):
At least once a year and anytime there's a big
life change or market shift?
Speaker 2 (21:34):
All right? Dreaming big retirement isn't just numbers, it's lifestyle
too right exactly.
Speaker 1 (21:40):
Think about what you want life to look like, travel, hobbies,
a second home, volunteering and build that into your plan.
Speaker 2 (21:50):
Should they write it down?
Speaker 1 (21:52):
Definitely. Writing it down makes the vision clear and helps
you prioritize.
Speaker 2 (21:58):
Let's talk longevity. People are living longer now.
Speaker 1 (22:01):
Retirement could last twenty five to thirty years or more,
so make sure your plan lasts as long as you do.
Speaker 2 (22:09):
And taxes, how do they fit in the tenure checklist?
Speaker 1 (22:12):
This is a good time to look at WROTH conversions,
health savings accounts, and diversifying your tax buckets.
Speaker 2 (22:19):
What's a tax bucket?
Speaker 1 (22:21):
It's just a category, tax deferred, taxable, or tax free.
Having a mix gives you more control.
Speaker 2 (22:29):
Later insurance Do people overlook that this far out?
Speaker 1 (22:33):
Sometimes? Don't wait until your sixties to think about disability
or life insurance. And remember long term care is rarely
covered by Medicare and can be one of the biggest
financial risk in retirement.
Speaker 2 (22:48):
Let's touch on debt. Should people pay it off aggressively?
Speaker 1 (22:51):
High interest debt, yes, mortgages. Maybe it depends on rates
and goals. But the less debt you bring into retirement
the better.
Speaker 2 (23:02):
And it impacts flexibility.
Speaker 1 (23:03):
Right, absolutely. Fewer monthly payments means more options and peace
of mind.
Speaker 2 (23:10):
Last on the checklist, legacy planning.
Speaker 1 (23:12):
Ten years out is the perfect time to update your will,
name beneficiaries and think about charitable giving. Have open conversations
with family to avoid surprises. A legacy is financial but
also emotional.
Speaker 2 (23:28):
So how could an advisor help at the stage.
Speaker 1 (23:30):
They're like project managers, keeping you on course, helping you
make informed, personalized decisions.
Speaker 2 (23:38):
And if someone doesn't have an advisor yet.
Speaker 1 (23:40):
This is a great time to find one. Our Kelly
Financial Advisors are fiduciaries, which means we're committed to putting
our clients first.
Speaker 2 (23:50):
What's a good resource for people starting this process?
Speaker 1 (23:53):
My book Retire Your Fear, Plan Your Future. It walks
you through the steps we've talked about today.
Speaker 2 (24:00):
Ten years might feel like forever, but it goes fast.
The best gift you can give your future self is.
Speaker 1 (24:05):
A plan exactly, and we can help you build it.
Speaker 2 (24:09):
To get your free copy of the book and schedule
a complimentary appointment with a Kelly Financial Advisor, call eighty
eight eight hundred and twenty eight eight one or email
Kelly at Kelly Financial dot org and.
Speaker 1 (24:18):
Stay with us In just a moment, we'll dive into
the five year checklist when timelines get tighter and decisions
get real.
Speaker 2 (24:27):
You're listening to Safe Money Strategies hurt here on WBZ
and streaming on the iHeart app. We're in our twentieth
year broadcasting. Thanks for tuning in Safe Money Strategies with
Kelly Kelly and her team. Call Kelly Financial at eighty
eight eight hundred and twenty eight one, or go to
(24:47):
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
income 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 her team called
Kelly Financial at eighty eight eight hundred and twenty and
one or go to Kelly Financial dot org. That's Kelly
at Kelly Financial dot org.
Speaker 1 (02:07):
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 handsome son, William
Kelly Junior, and we talk about life, what's going on
(02:27):
in the world, and our family and what really matters
most when you're planning for the future. Sometimes is light,
sometimes is thoughtful, but is always real. Good evening, William,
how are you.
Speaker 2 (02:40):
I'm fine, mom, Good evening to you as well, and
I'm doing very fantastic. So today in the world, Mom,
there has been a lot of action in the political
side of things in America DC. I'm sure we all
you've been to DC. I'm course, you see we have
family and friends who go to GW. I'm sure we
have a lot of folks who are connected with DC.
(03:01):
You know. I'm sure we know some people who are
in politics in DC. It is the capital of the
United States of America, but it's probably one of the
most dangerous places you can also be simultaneously. This is
the crown jewel of the United States, and it's very dangerous,
and I think that that has been a problem going
on for many years. And whether you look at statistics
or not, even though statistically it is dangerous, but if
(03:23):
you look at statistics or not, all you have to
do is be there or you know people who live there,
which I do, and they'll tell you what the situation
is like. It's a beautiful city. It's like Boston. It
has a lot going for it. It's a gorgeous city.
But like a lot of the major cities in the
United States, it's probably more dangerous than some third world countries,
(03:44):
which is a shame. And I know that's a bold statement,
but it's the truth. And a lot of people who've
traveled to third world countries and considerably dangerous places. We
lived in a high crime area when we moved to
the Dominican Republic. We lived in the city with a
lot of crime, and I felt pretty safe there. I
would say at nighttime it's a different scene. But during
the daytime, you know, you don't wear any jewelry and
(04:06):
you just go and play baseball out in the field
and you know your own So that says something. And recently,
a young kid who was on the Doge team, because
when Elon Musk was spearheading that project months ago, he
hired a bunch of talented young college kids. I think
they're around college age, and one of them was with
(04:26):
his girlfriend in DC and he has a nickname I
can't say on the show, but it's pretty funny. On
August third Sunday, near Logan's Circle, Corstein and his significant
other were approached by a group of ten juveniles attempting
to carjack them. Corstine pushed his girlfriend into the car
so she could drive away, and he remained there to
(04:46):
deal with the carjacker. So if you look up his nickname,
which I'm going to tell you is inappropriate. I would
say his nickname very well applies to him. And for
what he did. He put his girlfriend's priorities before himself
and his girlfriend got out safely with the car. He
was beaten to a pulp and if you look at
the photo, it's atrocious what they did to him. Luckily,
he's okay. Now, Donald Trump decided to go ahead and
(05:08):
do a complete crackdown on DC. Essentially, it's a police
state right now. It's under federal scrutiny. Police are everywhere,
They're on the street everywhere. They're pulling in El Salvador
and they're just removing all the crime. So I believe
it is El Salvador that is currently went from zero
to hero in terms of their recent president, who has
(05:29):
the highest approval rating in any country. He eliminated almost
all the crime, and basically what is happening in DC
is similar to that. So there's been that crackdown. And
to be honest, I don't know what your opinions are
on Donald Trump, ladies and gentlemen, whether you like or
dislike him, that's irrelevant. This is a big win for
(05:51):
the country. I think that safety should be our priority,
and I think that sanctuary cities are kind of a plague,
and I think that they can cause a lot of
destruction that's unnecessary. These are the beacons on the hill.
It's the shining city upon the hill. Boston, DC, you know,
Baltimore at one point, you know Chicago at one point,
(06:11):
you know Detroit. Detroit was an amazing place. And things
are getting slightly better. But crime needs to be handled.
In my opinion, I think that's good news. I think
justice is being served, and I think that these cities
kind of need to be perched a little bit because
the crime is unacceptable. It's that has no place here
in the United States. I don't care who you are
or what you think. I think that's a very agreeable point.
Speaker 1 (06:31):
Great William, So that's.
Speaker 2 (06:33):
One piece of good news there. And there's another good
piece of news in this administration. Robert Kennedy, our fk
JUNR is making his father and his uncle very proud.
They're smiling down from heaven right now. He is cracking
down on health insurance prior authorization. So he's putting a
lot of pressure on these companies right now to limit
(06:53):
their restrictions and to limit the amount of times, they,
you know, make it difficult to get the claims that
people deserve and that people need and that people are
paying for because it has been an abuse system, and
ladies and gentlemen, there is an incentive to deny claims.
The best way to make money for insurance companies is
to deny claims. It gives them the most profit at
this point. I don't know what they were doing beforehand,
(07:15):
but recently health insurance and insurance companies have realized that
if we put a lot of pressure on consumers by
scaring them and making them think that if they want
to get this claim, they have to sue us, which
would make them even more scared because the consumer thinks
that they would lose in a big legal battle, even
though fun facult ladies and gentlemen, if you deserve the care,
then you would win in the legal battle. So I
recommend you sue when you can. This puts pressure on
(07:38):
insurance companies so they don't do that. So Robert Kennedy
has been working really hard in that direction. I think
RF case kicking butt, and I think Donald Trump made
the right decision in terms of the whole martial law thing.
I think DC and a lot of these sanctuary cities
need a quick purge. So excellent.
Speaker 1 (07:54):
Well, we appreciate your thoughts, will you so tell me
what's going on in the personal side.
Speaker 2 (08:00):
Personal side. My gym friend and my copowerlifter. He's got
a meat coming up. He's been prepping for this for
a long time. I already had my meat a while ago,
and so we're doing the same program together. I just
hit four point fifty for five on the back squat,
so I'm staying strong, Ladies and Jellen went excellent. Georgia
(08:21):
is running strong, she's kicking, but that's my dog. My
mom is pulling up her steps today.
Speaker 1 (08:27):
Yah. She's five ninety one, jeez, number three in Caring
Terriers and number five in Rhode Island.
Speaker 2 (08:33):
Holy on this fi app.
Speaker 1 (08:35):
So those of you who have been following us along
with the results of Georgia our car in terrier. She
is moving along. There have been some days where she
hit eighty thousand steps. That is twenty miles for a
dog her size and her marathon.
Speaker 2 (08:52):
That's insane. A marathon, ladies and gentlemen. She needs extra food.
I think she's earned it. I think she's gonna probably
walk even more steps. And the crazy thing is is
that through the farmer's Dog, which is the service that
she gets her food from. It's all natural, you know,
procured food. It's said that for a pro athlete dog,
they need to move over two miles a day, right correct, yeahdies,
(09:14):
and gentlemen, my dog is moving twenty miles like every
couple of days.
Speaker 1 (09:19):
So we changed her from active in her profile to
pro athlete.
Speaker 2 (09:23):
Yes, ma'am. I honestly don't know if that's enough calories.
But she's chasing birds, running around, she's checking out the area.
She'll stop for a little bit and then she'll keep
going and the next thing you know, she's running loops
in our backyard. When she was a puppy, she was
doing it. And she's six years old and it's like
none of that puppy energy has left her at all.
It's hie n n. So we're very proud of you, Georgia.
Speaker 1 (09:45):
Do keep us on your dial. We've got a lot
of great content coming your way, Mike du said, and
Greg Workman will unpack why August and September are historically
the market shakiest months and how a written plan can
keep your retur hirement steady, Mary, Madeline Kelly, and Greg
Murray will share smart strategies for the Sandwich generation to
(10:07):
care for loved ones without sacrificing their own financial retirement.
I will be back with William and together we'll walk
you through your ten year and five year retirement checklist,
practical easy steps to help you plan ahead and step
into retirement with confidence. And of course we'll close the
hour with some wit and wisdom from the late Bill Kelly.
(10:30):
His words continue to inspire and guide us. That's a
wrap for forever young. Thank you for listening, and William,
thank you for joining me. I love you, Honey, I
Love you Toma.
Speaker 2 (10:44):
Call us today at eight eight hundred and eighty one
or visit us online at Kellyfinancial dot org to schedule
your complimentary retirement income analysis.
Speaker 3 (10:59):
Hello and welcome to Safe Money Strategies.
Speaker 4 (11:01):
I'm Mike Ducett, chief operating officer at Kelly Financial Services.
Speaker 3 (11:06):
If you are retired or.
Speaker 4 (11:08):
Thinking about retiring soon, this show is designed especially for you.
We want to help you protect your savings and enjoy
your retirement without the stress of market ups and downs.
Joining me in the studio as he typically does each weekend,
is my colleague, Greg Workman, investment advisor here at Kelly
Financial Services.
Speaker 2 (11:27):
Greg.
Speaker 3 (11:28):
Great to have you.
Speaker 5 (11:28):
Back, Thanks, Mike, great to be here again Tonight. We're
going to talk about something that happens every year but
still surprises a lot of people. The market tends to
be bumpy in August and September.
Speaker 4 (11:41):
Greg, A lot of folks don't realize that August and
September have a long history of being some of the
worst months for stocks. Can you break that down for
our listeners?
Speaker 1 (11:52):
Sure?
Speaker 5 (11:52):
Thing, It's really interesting when you look at the S
and P five hundred, for example, over the past seventy
years has been the weakest month on average. August isn't
far behind either. Analysts say that in September the market
often experiences declines because investors are returning from summer vacations
(12:12):
and adjusting their portfolios before the end of the quarter.
Sometimes economic uncertainty or global events can also contribute.
Speaker 3 (12:21):
So this isn't just random noise. It's a patent we
see again and again exactly.
Speaker 5 (12:27):
And the problem is for retirees who rely on their
investments for income, seeing those dips, it can create a
lot of fear. It's easy to want to sell when
things go down.
Speaker 4 (12:39):
Right, and that's something we talk about a lot here
at Kelly Financial. The biggest threat to your retirement savings
isn't the market itself, it's your emotions.
Speaker 3 (12:47):
Absolutely.
Speaker 5 (12:48):
It's called panic selling. When the market drops, some investors
sell off their stocks in a panic, locking in losses
instead of waiting for the recovery. That behavior is one
of the biggest reasons average investors tend to earn less
than the market.
Speaker 4 (13:05):
The data backs this up too, For years to doll
bar studies have shown that average investors underperform the market
by a significant margin, mostly because they buy high in
good times and sell low when things get scary.
Speaker 5 (13:20):
So how do we help clients avoid that? At Kelly Financial,
we emphasize having a written financial plan, not just a portfolio,
but a roadmap that guides your decisions through every season.
Speaker 4 (13:32):
A written plan gives you clarity on your income sources,
how your money is allocated, and what to do during
market ups and downs. It reduces emotional decision making because
you have a strategy to follow.
Speaker 5 (13:45):
And it answers key questions like how much risk am
I really taking, where is my income coming from, what
happens if the market drops.
Speaker 3 (13:54):
Let me share a story.
Speaker 4 (13:56):
Last year, a couple came to see us just a
few months into retirement. They'd been watching their portfolio fall,
and we're thinking about pulling everything out of stocks to
avoid more losses.
Speaker 5 (14:07):
That's a tough place to be without a plan. It
feels like the only choice.
Speaker 4 (14:12):
Exactly, We sat down with them and created a written
plan tailored to their needs. We separated their assets into buckets.
Some money was set aside and safer investments to cover
living expenses for a couple of years, while the rest
was allocated for growth.
Speaker 5 (14:27):
That gave them the confidence to stay invested and avoid
selling in a downturn. Now, even when markets get shaky,
they know their income is protected. Let's clear up a
big misconception. The myth is if I can time the
market right, I can avoid losses. But here's the fact.
(14:50):
The best days in the market often come right after
the worst. Missing just a few of those uptick days
can seriously re use your long term returns.
Speaker 4 (15:02):
Which is why trying to guess when to get in
and out rarely works. A well crafted plan helps you
stay the course. Greg, one of the things I hear
from clients all the time is how much they appreciate
our regular communication. It's not just about checking on their
rate of return. Our advisors actually spend time reviewing the
(15:22):
whole picture with clients.
Speaker 5 (15:24):
Absolutely, Mike. We don't just send them a statement and
say here's your return. We take the time to explain
why their portfolio performed the way it did, and, most importantly,
any adjustments we made along the way.
Speaker 4 (15:38):
Right for example, if we've shifted some assets to reduce
risk because we see potential market turbulence ahead, we don't
keep that a secret. We want our clients to know
what we're doing and why.
Speaker 5 (15:49):
And beyond performance and changes, we discuss our outlook moving forward,
what economic or market trends we're keeping an eye on,
and how those might impact their financial plan. That kind
of proactive communication gives our clients peace of mind. They
know we're not just sitting back waiting for things to occur.
(16:10):
We're actively monitoring their portfolios and adapting those models as needed.
Speaker 4 (16:16):
It's that peace of mind that often makes the biggest
difference when markets get shoppy, especially in months like August
and September. Clients feel reassured because they know we're on
top of.
Speaker 5 (16:26):
Things exactly, Mike, and I want to emphasize how important
that communication is in avoiding emotional decisions. When clients hear
from us regularly, they're less likely to pan, exel, or
make knee jerk moves.
Speaker 4 (16:41):
One of our clients shared with me recently how during
a particular volatile period, they felt calm because we had
already discussed the possibility of ups.
Speaker 3 (16:50):
And downs in what our plan was to handle them.
Speaker 5 (16:53):
That's the difference a plan plus ongoing dialogue makes. It
turns uncertainty.
Speaker 4 (16:59):
Into greg for listeners wondering if they're getting this kind
of service.
Speaker 3 (17:04):
How often do your clients typically hear from you?
Speaker 5 (17:07):
We'd like to connect at least quarterly, but often more frequently,
depending upon the client's needs or market conditions. Sometimes it's
a quick phone call, sometimes a detailed review.
Speaker 4 (17:19):
Meeting, and during those reviews, it's not just numbers and charts.
It's a conversation about their goals, any changes in their life,
and how their plan fits into that exactly.
Speaker 5 (17:30):
We want clients to feel heard and understood. It's their money,
their future, and we're here to guide them every step
of the way.
Speaker 3 (17:39):
We'll be right back after this shortbreak.
Speaker 4 (17:41):
When we return, Greg and I will dive deeper into
what a written financial plan includes and how you can
get one yourself completely free with no obligation.
Speaker 3 (17:51):
Stay tuned to save money strategies. We'll be right back.
Speaker 6 (17:56):
I'm John Boudris, and welcome to a new edition of
Kelley Financials. What would Bill say? The wit and wisdom
of the late Bill Kelly, who today tests time time.
Speaker 7 (18:07):
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
time to plant a tree tomorrow?
Speaker 2 (18:19):
Today?
Speaker 7 (18:19):
Whenever you can get to it, that's the next best time.
Speaker 6 (18:22):
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
(18:43):
eight eight eight hundred eighteen eighty one to spend some
time with one of our financial advisors.
Speaker 7 (18:48):
Time, ladies and gentlemen, it's not too late.
Speaker 6 (18:51):
We are Kelly Financial. Come retire with.
Speaker 2 (18:54):
Us and we're back. Good to be with you again
for those of you just joining us, this is Safe
Money Strategies where for twenty two years we've been helping
people protect and grow their retirement savings. I'm William Kelly
Junior here with our CEO and my mom, Kelly Kelly.
Speaker 1 (19:13):
It's always great to be back with you, William and
with our listeners, whether you've been with us from the
start of the hour or you're just tuning in now.
Speaker 2 (19:22):
Today we're looking way ahead ten years before retirement and
building a checklist to make sure people are on the
right track.
Speaker 1 (19:29):
That's right. Ten years out is about setting direction. It
might sound early, but that's when some of the biggest,
most impactful decisions need to happen.
Speaker 2 (19:40):
And the more time you have, the more options you have.
So where's the starting point.
Speaker 1 (19:45):
First, nail down your target retirement age and income goals.
Figure out where you are now so you can see
if there's a.
Speaker 2 (19:54):
Gap, kind of like checking your GPS. You can't map
where you're going unless you know.
Speaker 1 (19:58):
Where you are exactly, and check that map every year
so you can make course corrections.
Speaker 2 (20:05):
How specific should the plan be?
Speaker 1 (20:07):
Very specific, actual dollar amounts, a timeline and a vision
for what retirement will look like.
Speaker 2 (20:15):
Should couples do this together?
Speaker 1 (20:17):
Absolutely, retirement affects both people, so the goals and timing
need to be in sync.
Speaker 2 (20:24):
Okay, let's talk about maximizing savings.
Speaker 1 (20:27):
Start with contribution limits and if you're fifty or older,
take advantage of catch up contributions. If you're younger, increase
your savings rate a little each year, and automata if
you can always set it and forget it works. Compound
growth loves consistency.
Speaker 2 (20:46):
Which account should get priority first?
Speaker 1 (20:48):
Your for one K? If you have an employer match,
then I raise once those are maxed out. Look at
a taxable brokerage account. A good advice can guide.
Speaker 2 (21:00):
You and lowering expenses.
Speaker 1 (21:03):
The less you spend, the less you will need in retirement.
Is that simple?
Speaker 2 (21:07):
What about diversification?
Speaker 1 (21:08):
Have a balanced mix of assets, stocks, bonds, and maybe
some alternatives aligned with your time horizon and risk tolerance.
Aligned with your time horizon and risk tolerance, not too aggressive,
not too conservative?
Speaker 2 (21:25):
How often should people review and rebalance their portfolio?
Speaker 1 (21:28):
At least once a year and anytime there's a big
life change or market shift?
Speaker 2 (21:34):
All right? Dreaming big retirement isn't just numbers, it's lifestyle
too right exactly.
Speaker 1 (21:40):
Think about what you want life to look like, travel, hobbies,
a second home, volunteering and build that into your plan.
Speaker 2 (21:50):
Should they write it down?
Speaker 1 (21:52):
Definitely. Writing it down makes the vision clear and helps
you prioritize.
Speaker 2 (21:58):
Let's talk longevity. People are living longer now.
Speaker 1 (22:01):
Retirement could last twenty five to thirty years or more,
so make sure your plan lasts as long as you do.
Speaker 2 (22:09):
And taxes, how do they fit in the tenure checklist?
Speaker 1 (22:12):
This is a good time to look at WROTH conversions,
health savings accounts, and diversifying your tax buckets.
Speaker 2 (22:19):
What's a tax bucket?
Speaker 1 (22:21):
It's just a category, tax deferred, taxable, or tax free.
Having a mix gives you more control.
Speaker 2 (22:29):
Later insurance Do people overlook that this far out?
Speaker 1 (22:33):
Sometimes? Don't wait until your sixties to think about disability
or life insurance. And remember long term care is rarely
covered by Medicare and can be one of the biggest
financial risk in retirement.
Speaker 2 (22:48):
Let's touch on debt. Should people pay it off aggressively?
Speaker 1 (22:51):
High interest debt, yes, mortgages. Maybe it depends on rates
and goals. But the less debt you bring into retirement
the better.
Speaker 2 (23:02):
And it impacts flexibility.
Speaker 1 (23:03):
Right, absolutely. Fewer monthly payments means more options and peace
of mind.
Speaker 2 (23:10):
Last on the checklist, legacy planning.
Speaker 1 (23:12):
Ten years out is the perfect time to update your will,
name beneficiaries and think about charitable giving. Have open conversations
with family to avoid surprises. A legacy is financial but
also emotional.
Speaker 2 (23:28):
So how could an advisor help at the stage.
Speaker 1 (23:30):
They're like project managers, keeping you on course, helping you
make informed, personalized decisions.
Speaker 2 (23:38):
And if someone doesn't have an advisor yet.
Speaker 1 (23:40):
This is a great time to find one. Our Kelly
Financial Advisors are fiduciaries, which means we're committed to putting
our clients first.
Speaker 2 (23:50):
What's a good resource for people starting this process?
Speaker 1 (23:53):
My book Retire Your Fear, Plan Your Future. It walks
you through the steps we've talked about today.
Speaker 2 (24:00):
Ten years might feel like forever, but it goes fast.
The best gift you can give your future self is.
Speaker 1 (24:05):
A plan exactly, and we can help you build it.
Speaker 2 (24:09):
To get your free copy of the book and schedule
a complimentary appointment with a Kelly Financial Advisor, call eighty
eight eight hundred and twenty eight eight one or email
Kelly at Kelly Financial dot org and.
Speaker 1 (24:18):
Stay with us In just a moment, we'll dive into
the five year checklist when timelines get tighter and decisions
get real.
Speaker 2 (24:27):
You're listening to Safe Money Strategies hurt here on WBZ
and streaming on the iHeart app. We're in our twentieth
year broadcasting. Thanks for tuning in Safe Money Strategies with
Kelly Kelly and her team. Call Kelly Financial at eighty
eight eight hundred and twenty eight one, or go to
(24:47):
Kelly Financial dot org. That's Kelly at Kelly Financial dot org.
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