Kelly Advisor Podcast

1. 31 percent of those identifying as part of the Sandwich Generation bear complete financial responsibility for their parents or in-laws.

2. A MassMutual study confirms the emotional and financial stress such dual roles place on families.

3.  Creating a financial plan can alleviate such burdens and still allow for retirement saving. 

More people are saving for retirement but they are not saving enough.
Late-boomer wealth continues to be impacted by The Great Recession of 2008-2009. 
An increase in Social Security's Full Retirement Age was a de facto cut in Social Security benefits.

1. The greatest transfer of wealth in American history, approximately $84 trillion, has begun and will peak in the 2030s.
2. Gen X will begin retiring next decade, just as Social Security and Medicare will likely need substantial reforms.
3. A significant number of today's financial advisors will be exiting the business in the next ten years. 

1. The gold watch has been replaced by a green match (employers matching employee retirement contributions).
2. 401(k)s were never intended to supplant pensions but they largely have done so. The burden of saving for retirement is now on the employee, not the employer. 
3. A financial advisor can help people through the pitfalls of a DIY or do-it-yourself approach to retirement.

1. Legacy planning is not just for the fabulously wealthy; it's for anyone with assets of value to be gifted.
2. A well-crafted and executed plan can make your beneficiaries' lives easier to manage in the future, personally and professionally.
3. What's the difference between a will and a trust?

1. Seven out of every ten Americans who reach age sixty-five will need long-term care of some kind. 

2. LTCI premiums count as medical expenses and may potentially be paid with special tax considerations.

3. The burden of loved ones: 66 percent of caregivers use their personal assets like savings and retirement funds, to pay for a loved one's care.

1. Managing through volatility and navigating around it is a necessity today in retirement planning.
2. A diverse portfolio is still a sound strategy.
3. Market volatility amplifies and accelerates risk, and likely affects investor behavior.

1. Think of income in three stages: generation, preservation, and distribution.

2. Aligning expenses and income is a staple of retirement planning.

3. A majority of Baby Boomers want to age in place but only 10 percent of their homes are set up to accommodate this goal. Plan on unplanned expenses. 

1. A majority of people take Social Security at 62, the earliest eligibility age; they may be leaving money on the table.
2. Barring reforms to the system prior to sometime around 2034, Social Security will still pay benefits roughly around 79 cents on the dollar.
3. Before applying for Social Security, know all the available benefits and options to maximize your payments.

1. The retirement paradox: Finding yourself in a higher tax bracket in retirement. 
2. The importance of having clear and open communications among clients, tax professionals, and financial advisors.
3. Given Washington politics and uncertainty in future tax policy, tax strategies may be more important than ever. 

1. Riders on contracts can provide an opportunity to customize individual needs.
2. Annuities are really risk management products; another means to generate income.
3. Does it make sense for you to shift risk off your personal balance sheet to that of an insurance company? 

1. Ask yourself: Will my financial professional help me achieve my goals?
2. With a process in place, you have a greater probability of success.
3. How values, trust, and competence should be prime considerations in your search.

1. Financial advisors need to address the needs of the couple and the wife. Separate but equal. 
2. 80 percent of men die married but 80 percent of women die single.
3. "Gray Divorce" is on the rise. New complications to retirement.

1. A recent brief published by The Center for Retirement Research at Boston College sheds light on this issue. 
2. Learn about the evolution of retirement plans: the decline of defined benefit plans and the rise of defined contribution plans. 
3. Future retirees may need to alter behaviors to protect against outliving their savings.

1. We are indeed experiencing the highest inflation since the early 1980s, which really had its roots in the 1970s. 
2. Still, conditions in this decade are very different from 50 years ago.
3. After WWII, higher inflation resulted from manufacturing disruptions, rebounding demand for consumer goods, and soaring money growth... Sound familiar?