Kelly Financial: Saturday, March 1, 2025

Episode Transcript

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

Speaker 2 (00:15):
So good morning, dear Boston. I'm John Boudris and Kelly
Financial Safe Money Strategies indeed carries on every Saturday morning
right here on WRKO six point eight on the AM
dial and online from just about anywhere on this late

(00:36):
winter day. Well, the other day, I was rooting around
in my drawer looking for something, and I found a
roll of money. It was about five hundred dollars and
I scratched my head and I went, ah, I don't
think this was a tooth fairy deposit. And I just
don't remember putting it in there. And I thought to myself,
Am I turning into my father?

Speaker 3 (00:57):
Now?

Speaker 2 (00:57):
I remember I took him the last year years of
his life. Now, he was in his mid nineties at
the time, and I'm twenty years more than twenty years
younger than that. And I realized that my memory just
dain as good as she used to be. And that's
the precise topic later in the show that Kelly, Kelly
and I will be speaking about. And that's putting a
plan in place in anticipation of our brain, our mind,

(01:22):
our judgment, aging along with our knees and our back.
And it's just so important for any of you who
have lived it already, you know exactly what I'm talking about.
We'll be back in a minute after these brief messages,
so stay with us and join us on the other end.

Speaker 4 (01:41):
And safe money strategies with John Fodris and Kelly Kelly
called Kelly Financial on eight eight eight hundred eighteen eighty one.
We'll go to Kellyfinancial dot org.

Speaker 5 (01:54):
I'm Kelly Kelly from Kelly Financial. Managing finances can be
challenging at any age of life, but when cognitive decline
sets in, it can become overwhelming. That's when you might
want to turn to a trusted financial professional. The advisors
at Kelly Financial can help seniors put well structured long
term care plans in place, protecting not just their financial assets,

(02:18):
but also easing the emotional and logistical burden on their
loved ones. We also have a free investor guide called
but What If You Need Long Term Care, which breaks down.

Speaker 6 (02:28):
The options available to you.

Speaker 5 (02:31):
A smart long term care plan ensures the right resources
are there when you need them, keeping you in control
of your future. For the guide or for a free
consultation with a Kelly advisor called eight eight eight eight
hundred eighteen eighty one, or email Kelly at Kellyfinancial dot
org where Kelly Financial.

Speaker 6 (02:52):
Come retire with us.

Speaker 4 (02:54):
Safe money strategies called eight eight eight eight hundred eighteen
eighty one. Visit Kelly Financial dut hole, Come retire with us.

Speaker 6 (03:08):
Good morning, dear friends and dear listeners.

Speaker 5 (03:11):
I'm Kelly Kelly, and welcome to our show on this
fine Saturday morning. I'm here with my very handsome son,
William Kelly Junior.

Speaker 6 (03:20):
Good morning William, Good morning Mom.

Speaker 3 (03:22):
How are you?

Speaker 6 (03:23):
I'm doing great? How about yourself?

Speaker 3 (03:24):
Fine?

Speaker 7 (03:25):
Thank you for asking. It has been a wonderful February,
has it?

Speaker 4 (03:28):
It has?

Speaker 6 (03:28):
I can't believe it's March first.

Speaker 7 (03:31):
I know Saint Patrick's Day does approach and all of
you who have at least one percent Irish blood or
more should be looking forward to a very festive day.
And folks under the age of twenty one, including myself,
I'm very sorry. This should be fun. We should eat
some traditional food that we usually get from McGovern's.

Speaker 3 (03:49):
McGovern's. Yeah, yeah, yeah, I passed it not too long ago.

Speaker 1 (03:52):
Oh really, where is it again?

Speaker 5 (03:54):
There is Paul River right on the line, Tiverton and
Fall River Dad and his family would eat there. I
don't know how often, and then of course we would go.

Speaker 3 (04:04):
I remember we hadn't done that in a while. And
then the leprechaun catching every year.

Speaker 7 (04:09):
It was always volatile whether we were going to have
a really good trap or a really crappy trap. I
remember we'd leave out lucky charms under the box, have
a stick on it, and then the leprechaun would leave
some glittery stuff and you know, some candy and whatnot.
But then I'd come to school the next day and
they say, the leprechaun flipped all my chairs and tables

(04:29):
upside down, and all the pots and pants and vases
they were all flipped upside down. And I'm like, how
come if the leprecron didn't do that for me? When
I'm a parent, I'm going to have a conversation with
the leprechaun and do the same thing you guys did
and say, listen, you can do certain things, but that's
a little too fun. You got to be careful what
you tell your kids too, because they share it. Anyways,

(04:50):
looking forward to a good Saint Patrick's Day, hopefully we
get some Mcoverag's food.

Speaker 3 (04:54):
I think we should do.

Speaker 6 (04:54):
That, Yeah, that's not a bad idea, William, No, not
at all.

Speaker 7 (04:57):
Yeah, in honor of Dad. Dad was so out of
his Irish heritage. As many of you know, he was
an Irish citizen himself. He actually spoke a little bit
of Gaelic and from those who are listening and from Ireland, Irish.
And it's funny how we call it Gaelic, but they
call it Irish. But he spoke a little bit, and
I remember he used to speak some of it to me,
and he had a talent for languages.

Speaker 3 (05:17):
A little fun fact about Dad.

Speaker 7 (05:19):
He spoke very good Spanish and I was getting there,
and then unfortunately he passed away and we left the
Dominican and I didn't really have much of a need
to speak Spanish, but I've retained a decent amount.

Speaker 5 (05:30):
But speaking of Ireland, you were also baptized there.

Speaker 3 (05:34):
Oh, yeah, that's right.

Speaker 7 (05:35):
I was baptized in the same church as my great
grandmother and grandfather.

Speaker 6 (05:40):
You were eight weeks old.

Speaker 3 (05:41):
That's amazing. But man, I remember my time.

Speaker 7 (05:44):
I had a wonderful time going to the bars with
everybody after my baptism.

Speaker 3 (05:49):
The Irish pubs are there, They're like nothing you've ever seen.

Speaker 6 (05:51):
You're such a little jokester.

Speaker 7 (05:53):
I'm shocked they gave guinness to a baby, but I
guess that's just sculpture.

Speaker 6 (05:56):
To drop it. You are silly now.

Speaker 7 (06:00):
With Saint Patrick's Day, we recently had a wonderful dinner
with some of our friends from the Portsdavie monastery. In particular,
Brother Sixtus had invited us, and he's a wonderful man.
And the monastery at my old high school is a
wonderful monastery.

Speaker 3 (06:14):
It's beautiful, absolutely beautiful.

Speaker 7 (06:16):
I feel like I was back in London. They have
woodpaneling from the fifteen hundreds. I mean, they have ancient civilization.
I think some are Greek and Roman. They have the
Roman coins in the library. They have a huge collection
of donated artifacts and they have a huge library. They
have beautiful studies the monks in their living spaces. As
many of you know, they live in cells, and cells

(06:38):
are very small and very humble living quarters to reflect
their life that they have chosen to live. They specifically
live a very quaint life, one that they give up
material possession and stuff like that. However, the amenities outside
the cell are very beautiful and they're very nice, and
it's a very historic monastery. It's been there for a
very very long time. I know the school is approaching

(07:00):
in twenty six it t one hundred year anniversary. Beside
all that, we were there for vespers and dinner. Vespers,
for those of you who are not Catholic or unfamiliar,
is just an evening prayer.

Speaker 3 (07:12):
It also can be held in the morning. One of
the monks who was.

Speaker 7 (07:15):
Actually my Precaculus teacher, father Edwards, he sings beautifully.

Speaker 6 (07:19):
I had no idea.

Speaker 7 (07:20):
Absolutely every time we would have mass, he usually would
be the person leading, and so really, but later at
dinner we all had a wonderful conversation. I spoke with
the student who had recently joined the wrestling team, and
he had a wonderful successful first year. He seems like
he has a very good future. He is at a
much farther head start than I was when I started,

(07:42):
so I'm very happy for him.

Speaker 3 (07:43):
I'm also very.

Speaker 7 (07:44):
Happy for the other people on the team because.

Speaker 3 (07:45):
They've all come so far.

Speaker 7 (07:47):
The team were champions again for a second year in
a row for the league. On top of that, we
had a lot of people who placed in the EIL,
which is the equivalent to States and a lot of
people went to regionals, which specific isn't the New England's.
So it was a very very successful year for the team.
From my youth wrestling, I am able to kind of
present some opportunities to some of the older kids in

(08:09):
the team approaching high school because my coach actively looks
for people, and since I work with these young people,
I know their talent and I know what coach Mike
looks for, and so I have the ability to say, hey,
I think you could have a potential opportunity to go
to my high school and wrestle, and Coach Mike talks
with them because he goes to a lot of the
meets and given that he's the vice chairman of the

(08:30):
ref's Association in Massachusetts.

Speaker 6 (08:32):
Interesting.

Speaker 7 (08:33):
Yeah, And in the political world, Trump seems to be
on fire with these executive orders. People are definitely being
very skeptical. Elon Musk has been up to a lot
as well. Frankly, I don't know how I feel about him.
I wonder what's going to happen with all of these
cuts in the government agencies.

Speaker 3 (08:52):
I hope they're positive.

Speaker 7 (08:53):
Time will only tell, and that's the only way to
find out. And I'm looking forward to the future.

Speaker 6 (08:58):
Me too, William.

Speaker 5 (08:59):
I want to I wish everyone a wonderful rest of
the weekend, and do keep us on your dial. We
often address the concerns of those who worry about outliving
their retirement savings. People are living longer, so it's crucial
to ensure your money lasts as long as you do. Today,
Mike Ducett and Charlie Gable will share valuable strategies to

(09:21):
help you achieve this. Later, Mary, Madeline Kelly and Greg
Murray will join the conversation and discuss the importance of
periodic financial reviews. I'll be back with John Boudris for
an informative discussion on protecting retirement savings from cognitive decline,
including signs to watch for and strategies to implement, and

(09:44):
as always, some wit and wisdom from Bill Kelly. William,
thank you for chatting with me this morning. I love you, Honey.

Speaker 3 (09:52):
I love you too, and as do I.

Speaker 4 (10:00):
Safe Money Strategies brought to you by Kelly Financial Services.
Call eight eight eight eight hundred eighteen eighty one or
go to Kelly Financial dot Org.

Speaker 1 (10:12):
Come retire with us.

Speaker 8 (10:15):
Let me tell you about Kelly Financial Services retirement isn't
just about beach days or playing golf. You have to
consider taxes because Uncle Sam doesn't retire when you do.
In fact, if you're not careful, he'll take a big
bite out of your savings. If you start pulling from
your four oh one k, sell that second home, or

(10:35):
inherit some money, you're gonna get hit with a tax bill.
And if you don't have a plan, your wallt's gonna
feel it. The advisors at Kelly Financial know the ins
and outs of tax efficient withdrawals, rough conversions, estate planning,
and will help you keep more of what you've earned.
Don't go into retirement unprepared. For a free retirement consultation

(10:57):
with a Kelly advisor. Call eight eight eight eight hundred
eighteen eighty one eight eight eight eight hundred eighteen eighty
one or email Kelly at Kellyfinancial dot org. That's Kelly
at Kelly Financial dot org.

Speaker 4 (11:14):
Safe Money Strategies cool eight eight eight eight hundred eighteen
eighty one.

Speaker 1 (11:22):
Good morning, and welcome to the show.

Speaker 9 (11:23):
You are listening to Safe Money Strategies and my name
is Mike Dussett, Chief operating officer at Kelly Financial. Welcome
to the world where living longer is the new normal.
Did you know that the average American man today lives
nearly six years longer than he would have fifty years ago,
and women are not far behind, with an average increase
of five years in their lifespan. This is great news,

(11:46):
but it brings an important question to the forefront for retirees.
How do you help ensure your money lasts as long
as you do. On today's show, we will share with
you several strategies that we often discuss with our clients
who worry about outliving their retirement savings. While some of
these tactics may involve a trade off requiring you to
forego certain benefits now for greater confidence later, many are

(12:09):
simply about enhancing the efficiency of your retirement planning. So
stay tuned. This discussion could be a game changer and
how you approach your financial future.

Speaker 1 (12:18):
Hey, good morning everyone.

Speaker 10 (12:19):
My name is Charlie Gable, investment advisor at Kelly Financial
and just like any great adventure, retirement can be made
smoother with the right guidance. So if you're ready to
enhance your retirement planning and could use some assistance, don't
hesitate to give us a call. Today at eight eight
eight eight hundred eighteen eighty one. Remember that number once
again is eight eight eight eight zero zero one eight

(12:42):
eight one. You can also explore further resources and information
on our website at Kellyfinancial dot org.

Speaker 9 (12:48):
Your retirement is too important to leave to chance, especially
when it comes to the possibility of having to live
the situation of being old and broke. Give us a
call and let us show you the difference our years
of planning experience can make in planning your future.

Speaker 10 (13:02):
And people are living longer than ever before, which presents
a significant financial challenge during their retirement. We need to
help ensure that our money lasts as long as we do,
and the statistics are clear. A sixty five year old
woman in average health who's a non smoker has a
fifty percent chance of living at least another twenty three
years to age eighty eight and another twenty five percent
chance of reaching ninety four. A sixty five year old

(13:24):
man with the same profile has a fifty percent chance
of living another twenty years to age eighty five and
a twenty five percent chance of reaching ninety two, And
for a married couple of this age, there's a fifty
percent chance one will live to see ninety two, and
a one in four chance that one partner will make
it to at least ninety seven.

Speaker 9 (13:43):
Pause for a moment, consider this reality. The odds of
one in four are the same as drawing a heart
or any other suit out of a deck of cards.
If this is the card you and your spouse are dealt,
it means that one of you might live to age
ninety seven or for another thirty two years. That's a
long time to ensure your money lasts. Fortunately, there are

(14:03):
strategies that can be employed to help extend the life
of your savings.

Speaker 10 (14:07):
One probably the most obvious but least desirable, would be
to delay your retirement. Postponing retirement by even a year
can have a substantial impact. By working longer, you're not
only adding to your savings, but also reducing the number
of years that you draw from it. So this delay
can allow your investments more time to grow and ultimately
leveraging the power of compounding interest. So consider this example.

(14:29):
But worker is contemplating retirement and plans to withdraw sixty
thousand dollars a year from her retirement accounts to meet
her income needs. So if she decides to work one
additional year, that sixty thousand ultimately stays in her account
and continues to grow. If we assume a seven percent
average growth rate and ignore the taxes and any requirementum distributions,

(14:51):
after thirty years, she would have an extra four hundred
and fifty thousand dollars in that plan.

Speaker 9 (14:55):
And remember, retirement doesn't mean you have to stop working altogether.
Part Time employment or freelance work can provide not just
a sense of purpose and engagement, but also an additional
income stream. This extra income means you can draw less
from your retirement funds, allowing them to accumulate and grow
over a longer period. Consider an example of a retired

(15:16):
person drawing five thousand a month from his IRA to
supplement his retirement income. He decides to go back to
work part time for five years, and he is paid
one thousand dollars per month. That means for the next
five years he can reduce the withdrawals from his IRA
by one thousand dollars per month. After five years, assuming

(15:36):
that same seven percent growth rate, his IRA would contain
an extra sixty nine thousand. Over an additional twenty five years,
this would potentially grow to over three hundred and seventy thousand.

Speaker 10 (15:47):
So another strategy to consider is the timing of your
Social Security benefits, which can ultimately significantly have an impact
on your amount that you receive over time. Delaying your
claim increases monthly benefits, providing a larger financial cushion in
your later years. Most people already know that, but what
is less well understood is that there are other ways
of optimizing social Security that don't have anything to do

(16:10):
with delaying the date you start collecting. There's potentially a
lot in the line. So let me give you an
example worth noting. The Social Security Administration reports that the
average monthly benefit is around one thousand, nine hundred seventy
six dollars. Now, if we compare this to the maximum
social Security benefit that some are able to collect. If
you retire at full retirement age in twenty twenty five,

(16:32):
your max benefit would have been four eighteen dollars. Understand
I'm not suggesting that everyone is eligible to collect the maximum,
but consider that the maximum is more than twice the
average benefit. There's a lot going on here. It's not
just about delaying the start date. There are other factors
that can contribute to higher benefits. That people need to understand.

Speaker 1 (16:52):
Here is why it is important.

Speaker 9 (16:53):
Consider a recently retired individual who needs to withdraw twenty
five hundred each month to supplement the Social Security sufficiently
to support their lifestyle. What if they were able to
increase their Social Security benefits by just one hundred dollars
per month. That would mean that instead of withdrawing, they
could leave one hundred each in their retirement account to grow.

(17:14):
If the growth rate was seven percent after thirty years,
they would have an extra one hundred and fourteen thousand
in that account. This is a large amount of money
that begs the question, can you increase your Social Security
benefit by one hundred per month? There might not be
a way to know for short, unless you spend some
time with a financial advisor who is knowledgeable when it
comes to social security planning. Charlie and I need to

(17:36):
take a quick break, but we'll be back later in
the show to discuss additional strategies that may help your
retirement income last longer.

Speaker 1 (17:43):
So stay tuned.

Speaker 4 (17:47):
Kelly Financial Services eight hundred eighteen eighty one.

Speaker 2 (17:53):
Ready to enjoy your golden years without worry. At Kelly
Financial we know retirement planning can be overhel whelming. With
more than twenty one years of experience, our friendly team
of advisors makes it easy and stress free. Trust us
to help you create a secure and enjoyable future. For
a free initial retirement consultation, called eight eight eight eight

(18:15):
hundred eighteen eighty one or email Kelly at Kelly Financial
dot org. We're Kelly Financial. Come retire with us.

Speaker 5 (18:23):
Hi, I'm Kelly Kelly from Kelly Financial Services. What do
you look for when choosing a financial advisor? We like
to believe is based on shared values, trust and knowledge.
We've been serving clients in the Greater Boston area for
more than twenty years now. If you have investable assets
and want to learn more about our experience, call us
eight eight eight eight hundred eighteen eighty one or email

(18:45):
Kelly at Kellyfinancial dot org to set up a free
retirement consultation.

Speaker 6 (18:49):
We're Kelly Financial. Come retire with us.

Speaker 4 (18:53):
The Money Wrap with Kelly Financial Advisors. Greg Murray and
Mary Madeline Kelly.

Speaker 1 (19:00):
Good morning.

Speaker 11 (19:01):
This is Greg Murray, Senior Vice president and Chief Compliance
Officer at Kelly Financial Services. Joining me today is Mary
Madeline Kelly, one of our investment advisors. How are you
doing today?

Speaker 1 (19:11):
Good morning, Greg. I am doing great. Thank you for asking.
I just returned from my ski trip out in Utah
this week, so I'm still adjusting to some normalcy. Although
I love New England, I have to say that there
is something really special about the mountains out west. The
skiing is amazing, the people are so nice. But I
hear you also had a lovely time across the pond.

Speaker 11 (19:31):
I did. It was fantastic. We were able to get
some skiing in and got to explore some new places
that we have never been. And as you said about
the West, the skiing in Europe is spectacular.

Speaker 1 (19:40):
I'm glad to hear that. So today we are diving
into a topic that is crucial for anyone looking to
stay on top of their finances, the importance of periodic
financial reviews.

Speaker 11 (19:50):
Many people set up a financial plan and then forget
about it, but that can be a big mistake. Life changes,
markets fluctuate, and your financial goals might shift over time.

Speaker 1 (19:59):
Absolutely, periodic reviews help ensure that your financial plan is
still aligned with your current life situation and future goals.
Let's break down why these reviews are so important.

Speaker 11 (20:09):
First off, one of the primary reasons for a financial
review is life events.

Speaker 1 (20:13):
Think about how much.

Speaker 11 (20:14):
Can change in the year getting married, having a baby,
switching jobs, or even dealing with an unexpected health issue.
All of these events can significantly impact your financial situation.

Speaker 1 (20:23):
A financial review helps you adjust your strategies to accommodate
these changes. For instance, after having a child, you might
want to increase your life insurance coverage or start a
college savings plan.

Speaker 11 (20:34):
Another reason to conduct periodic reviews is to reassess your
investment portfolio. Markets are dynamic and what seemed like a
good investment a few years ago may no longer be
the best option.

Speaker 1 (20:43):
True regular reviews can help you rebalance your portfolio to
ensure it matches your risk tolerance and investment horizon. Sometimes
this might mean shifting funds from stocks to bonds as
you get closer to a retirement.

Speaker 11 (20:56):
Speaking of retirement, tracking your progress towards your retirement goals
is another key reason for periodic financial reviews. Are you
saving enough? Are your investments performing as expected? Our review
can help answer these questions and keep you on track.

Speaker 1 (21:08):
And don't forget about tax planning another critical component. Tax
laws change all the time, and what worked for you
last year might not work this year. A financial review
helps you stay updated on these changes and find ways
to minimize your tax burden. And let's not overlook debt management.

Speaker 11 (21:24):
Whether it's a mortgage, student loans, or credit card debt,
a periodic review can help you formulate or adjustice strategy
to pay it off faster and save on interest.

Speaker 1 (21:31):
Absolutely. Tackling debt efficiently can free up more money for
investing or other financial goals. And of course we must
mention emergency funds. Reviewing your finances ensure as you have
enough saved up for unforeseen circumstances.

Speaker 11 (21:44):
Now that we've covered the why, let's talk a little
bit about the how. Mary Madeline, what should someone expect
during a financial review?

Speaker 1 (21:50):
That's a great question. Typically, a financial review will start
with updating your financial statements, so that's like your income, expenses,
assets and liabilities. You'll look at your investment counts, retirement plans,
insurance policies, and upcoming financial obligations.

Speaker 11 (22:04):
From there, you should revisit your financial goals. Are they
still realistic and aligned with your current life stage. You
might discover this some goals need to be adjusted or
replaced entirely.

Speaker 1 (22:13):
Next, you and your advisor will analyze your investment portfolio
to ensure its well diversified and aligns with your risk tolerance.
This might involve selling off underperforming investments and exploring new opportunities.

Speaker 11 (22:24):
And don't forget about a state planning. A financial review
is a great time to make sure your will, trust
and beneficiary designations are up to date.

Speaker 1 (22:31):
Finally, a good financial review will involve a discussion about
any potential financial opportunities or threats on the horizon. This
proactive approach can help you stay ahead of the game.

Speaker 11 (22:40):
In summary, periodic financial reviews are essential for adapting to
life changes, optimizing your investment portfolio, ensuring progress towards goals,
and staying informed about tax and estate planning. It's all
about keeping your financial plan dynamic. Well said, and remember
the key is consistency. Schedule your reviews at least annually
or more often if you go through significant life changes exactly.

(23:02):
Some clients prefer to touch base quarterly or semi annually well,
others like to meet annually.

Speaker 1 (23:06):
We are always happy to assist all of our clients.
Please give us a call if you want to schedule
your financial review.

Speaker 11 (23:12):
Thank you Mary Madelin for your time. As always, and
I look forward to our next conversation.

Speaker 1 (23:15):
Likewise, I have a great rest of your weekend.

Speaker 4 (23:17):
To get in touch with Greg Murray or Mary Madeline Kelly,
or any member of the Kelly Financial team, call eight
eight eight eight hundred eighteen eighty one.

Speaker 5 (23:29):
Hi, I'm Kelly Kelly. For twenty one years, Kelly Financial
Services has been serving people like you today. We are
still guided by the with and wisdom of my late
husband and co founder, Bill Kelly.

Speaker 12 (23:42):
When's the best time to plant a tree? Twenty years ago?
When's the second best time to plant a tree? Today? Tomorrow?

Speaker 5 (23:49):
Growth in all aspects of life are the hallmarks of
a fulfilling retirement. We're Kelly Financial. Come grow with us
and come retire with us.

Speaker 1 (23:59):
Come in, see, thank you?

Speaker 3 (24:00):
It's nice?

Speaker 10 (24:01):
Yes, yes?

Speaker 1 (24:02):
Now what do you want right? How am my sons performing? Hello?

Speaker 4 (24:08):
Look at the pretty colors the sun makes reflecting off
this glass.

Speaker 2 (24:13):
If your financial advisor isn't listening, it's time for a change.
The advisors at Kelly Financial will listen and guide you
towards a more fulfilling retirement. For a free consultation, called
eight eight eight eight hundred eighteen eighty one or go
to Kelly Financial dot org.

Speaker 4 (24:29):
Safe Money Strategies with John Budris and Kelly Kelly call
the team on eight eight eight eight hundred eighteen eighty one.

Speaker 2 (24:41):
And we are back. I'm John Boudris, the co host
of Safe Money Strategies, and as always, thanks for joining
me on this lovely Saturday morning. Well, the other day
I was in my sock drawer looking for a pair
of warm wool socks and I came across about five
hundred dollars and twenty dollars bills which I had forgotten
that I had stashed there I don't even know when,

(25:03):
And it got me thinking that as we get older,
and I'm now seventy three thereabouts, we are going to
have to tackle a topic that doesn't nearly get enough attention.
And that's how our cognitive decline can impact our retirement,
our planning for it, are actually living in it. We

(25:25):
spend our whole lives saving, planning, investing. But what happens
when age related cognitive decline makes financial decision making a
challenge and sometimes even a confusing impossibility. What it means
is that your nest egg could be at risk without
you even knowing about it. Unless you have the right

(25:46):
plan in place, already up and running before. Let's just
be real, before our mind starts to fade. So with
me today is the every young Kelly Kelly, the CEO
of Kelly Financial. Her team of fiduciary financial advisors has
helped countless retirees safeguard the finances against the unexpected, and

(26:09):
she's here today to break it all down for us. Kelly,
Good morning and welcome, and I'm sure you have your
coffee right there with you to keep your mind sharp.

Speaker 5 (26:18):
Good morning, John, happy to be with you on this
fine Saturday morning.

Speaker 2 (26:22):
Is it true, Kelly, that as we age, our ability
to manage complex financial decisions also declines?

Speaker 5 (26:30):
Unfortunately, Yes, it's a difficult truth that cognitive decline can
affect anyone as they age, and this often includes the
ability to manage complex financial decisions. This can have devastating
financial consequences for families. Retirees may find it challenging to

(26:50):
make sound investment choices, become more susceptible to scams, or
simply forget to pay bills, all of which can lead
to significant financial losses.

Speaker 2 (27:02):
Well, let's be honest, Kelly, it's not just about forgetting
to pay a bill here or there. I've heard of
cases where retirees get swindle cheated out of thousands, sometimes
their entire savings, because they fell for a scam or
trusted the wrong people.

Speaker 5 (27:17):
John, you are absolutely correct. We have unfortunately witnessed retiree's
falling victim to financial fraud, poor investments, and even manipulation
by individuals they once trusted. These situations are truly heartbreaking,
but there are some strategies that retirees and their families
can implement to safeguard both themselves and their retirement savings.

Speaker 2 (27:42):
Well before we actually talk about the specific financial strategies
to address this problem, let's start with the signs of
cognitive decline. I think what's happening in my sock drawer
is one of them. I'm guessing that the advisors at
Kelly Financial have seen it all before we have.

Speaker 5 (28:01):
Financial advisors are often among the first professionals to notice
early signs of cognitive decline in their clients. Often we
detect small behavioral changes that may indicate impairment. This is
because we interact regularly with retirees.

Speaker 2 (28:20):
This is important to know. Care to elaborate and give
us some examples Kelly.

Speaker 5 (28:25):
This often begins with confusion over routine financial matters. They
may struggle with basic financial concepts or maybe forget to
pay some bills, or have trouble recalling past conversations about
their investments. Decision making become slower and more challenging, and
investment preferences may change without clear reasoning. Additionally, they might

(28:49):
struggle with interest rates, making errors on checks, and having
difficulty calculating their rmds. This can lead to fear about
find financial security and impulsive investment decisions.

Speaker 2 (29:04):
You mentioned retirees who are experiencing cognitive decline may have
trusted people who didn't really have their best interests at heart.

Speaker 5 (29:13):
Yes, it is a very unfortunate reality. Some seniors experiencing
cognitive decline can become overly trusting of individuals offering financial advice,
particularly those they don't know very well. Additionally, they might
grant unrestricted access to their accounts without proper oversight.

Speaker 2 (29:35):
So these folks are very susceptible to financial exploitation or fraud,
aren't they?

Speaker 5 (29:41):
Yes, these individuals can be susceptible to financial exploitation or fraud.
They might receive an unusual or excessive number of calls
or emails about investments or sweepstakes, or they may be
persuaded to give large amounts of money to unfamiliar people
or organization.

Speaker 2 (30:00):
All right, let's get down to solutions. Let's say I'm
a retiree or I have aging parents. What step should
I be taking right now to protect my savings and theirs?

Speaker 5 (30:10):
John, Here are some key steps to consider. One is
establishing a power of attorney. Designating a trusted person to
manage finances in the event of cognitive decline ensures responsible
financial management. Another is simplifying finances. Consolidating accounts and automating

(30:31):
bill payments reduces confusion and helps prevent mispayments. They should
also have regular financial check ins. Scheduling regular reviews with
a financial advisor can help catch unusual activity and provide
an extra layer of protection. Also, fraud prevention measures should

(30:53):
be taken. Signing up for account alerts, credit monitoring, and
establishing trusted contacts at financial institutions are crucial steps in
avoiding scams. Finally, long term care planning. Given the potential
for cognitive decline, having a long term care plan in

(31:13):
place can protect assets and provide peace of mind.

Speaker 2 (31:17):
Well that last one is big. If they have a
long term care plan in place, they won't be waking
up every morning wondering do we need it? If so,
how long do you think will need it? Will Medicare
cover all of our costs. The more well thought out
it is, the better prepared seniors and their families will
be before these challenges actually arise.

Speaker 5 (31:39):
This is precisely why working with a Kelley advisor is
a wise decision. Is all about protecting their hard earned assets.
As we age, we need safeguards in place. Just like
installing handrails in a home to prevent falls, a long
term care plan developed with the help of an advisor
should inclu protections against cognitive decline.

Speaker 2 (32:03):
Well, that's such an eye opener, Kelly. Cognitive decline isn't
something people like to talk about. It's much easier to
talk about your sore back or your sore knee, but
it's a reality that we all need to face. The
fact is, your retirement savings aren't just about today. They're
about securing your future, protecting your legacy, and making sure
your money lasts. So if you're sixty or older, or

(32:26):
you've got parents in retirement, have that conversation about financial safeguards.
Don't wait until a problem or a crisis arises, because,
believe me, it will arrive. So start the planning now, Kelly.
Can people reach out to you to talk about these
retirement strategies that can protect them from these risks? What

(32:47):
are the resources should they explore?

Speaker 5 (32:49):
Absolutely, We're here to help you explore strategies to protect
your assets and.

Speaker 6 (32:54):
Ensure your future well being.

Speaker 5 (32:57):
Our Kelly Advisors can provide personalized guide to find the
best solutions for.

Speaker 6 (33:02):
You and your loved ones.

Speaker 5 (33:04):
Additionally, we have a complementary investor Guide. But what if
you need long term care? This resource highlights the potential
consequences of not planning for long term care and compares
different funding options. Taking proactive steps now can help safeguard
your retirement savings from the potential impacts of cognitive decline.

(33:28):
Do contact us today to discuss your options.

Speaker 2 (33:31):
To get the guide and make a complimentary appointment with
a Kelly Financial Advisor. Called eight eight eight eight hundred
eighteen eighty one or email Kelly at Kellyfinancial dot org.
When we come back, we'll talk about why long term
care planning is essential when preparing for inevitable cognitive decline
and the specifics of how your advisor can help you

(33:54):
stay tuned and we will.

Speaker 1 (33:55):
Be back in just a moment.

Speaker 4 (34:01):
Safe money strategies brought to you by Kelly Financial Services.
Call eight eight eight eight hundred eighteen eighty one or
visit Kellyfinancial dot org.

Speaker 6 (34:12):
I'm Kelly, Kelly from Kelly Financial.

Speaker 5 (34:14):
Planning for the future means preparing for the unexpected, like
cognitive decline and the rising cost of long term care.
Our free investor guide, but what if you need long
term care breaks down the options available to you. For
the guide or for a free consultation with a Kelly advisor,
call eight eight eight eight hundred eighteen eighty one or

(34:35):
email Kelly at Kellyfinancial dot org.

Speaker 6 (34:38):
We're Kelly Financial. Come retire with us.

Speaker 2 (34:41):
Are you moved by the transition from one season to another,
like winter into spring or summer interfall? Likewise, we are
moved by life's transitions losing a job, facing retirement, the
passing of a spouse. Are you prepared for the financial hazards?
Each transition brings the financial advisors at Kelly finan who
can help you triumph over life's transitions. Call eight eight

(35:03):
eight eight hundred eighteen eighty one or email Kelly at
Kellyfinancial dot org. Serving Boston for twenty one years.

Speaker 4 (35:11):
Safe Money Strategies eight eight eight hundred one eight eight one.
Come retire with us.

Speaker 2 (35:21):
And we are back. I'm John Budris, the co host
of Safe Money Strategies, and thanks for joining me these
lovely Saturday morning in February. We talk about building a
nest egg, we talk about paying off the house, making
sure we have enough for retirement. But if we're not
planning for what happens when we start needing help, that's
a very huge oversight. I know, I know none of

(35:45):
us likes to think about it, but the truth is,
as we age, the risk of Alzheimer's, dementia or just
even mild cognitive impairment grows. Now if you don't have
a plan in place, it can not only devastate your finances,
but also put enormous burden on your loved ones. So
let's bring back Kelly Kelly, the CEO of Kelly Financial.

(36:07):
She knows how crucial it is to be prepared, and
she can walk us through long term care planning and
cognitive decline. Kelly, good morning and welcome back.

Speaker 5 (36:18):
Good morning, John, happy to be back with you on
this Saturday morning.

Speaker 2 (36:22):
In our last segment, we talked about the signs of
cognitive decline that financial advisors often see, and then some
strategies people can put in place to protect their nest
egg once these things inevitably come on. Before we wrapped up,
you brought up how important long term care planning is
for preparing for this cognitive decline. Why should seniors be

(36:46):
planning for long term care specifically when it comes to
cognitive decline.

Speaker 5 (36:51):
Cognitive decline is a gradual process, and its signs are
often subtle and easily overlooked by family. Unfortunately, by the
time these signs become apparent, seniors may already be experiencing
significant financial consequences, such as missed bill payments, vulnerability to scams,

(37:14):
or mismanagement of funds. Without a comprehensive long term care plan,
families can find themselves facing unexpected and substantial out of
pocket cost for care. This financial burden can quickly deplete
financial savings. However, by establishing a well considered long term

(37:36):
care plan now, seniors and their families can proactively address
these challenges and ensure they are prepared for the future.

Speaker 2 (37:46):
And let's be clear, Medicare doesn't cover long term care, right.
A lot of people assume they're covered, but that's just
not the case at all.

Speaker 5 (37:54):
That's absolutely right, John, That's a common misconception. Medicare will
cover short term rehab following a hospital stay, but it
does not cover long term nursing, home care, assisted living,
or in home caregivers for chronic conditions. Medicaid covers some
of these expenses, but you have to qualify financially, which

(38:18):
often means spending down some of your assets.

Speaker 2 (38:22):
So if you don't want to spend your life savings
or rely on the government, you need a plan. So
let's talk about how people can prepare for it. What
steps should retirees take right now, today, this Saturday, to
protect themselves and their families.

Speaker 5 (38:38):
There are three key areas to focus on financial planning,
legal protection, and care options For those in their fifties
or sixties. Consider long term care insurance. The earlier you
obtain it, the more affordable the premiums will be. If
insurance isn't visible, annuities or hybrid life life insurance policies

(39:01):
that include long term care benefits are also an option.
Their financial advisor can walk them through these financial products
to help them decide what will work best.

Speaker 2 (39:13):
You mentioned legal protection as well. Can you explore that
a little bit better?

Speaker 6 (39:18):
Yes.

Speaker 5 (39:18):
As we mentioned in our first segment, put a durable
power of attorney in place so a trusted family member
can handle finances should you become incapacitated. Establish a healthcare
power of attorney so someone can make medical decisions on
your behalf. And consider a revocable living trust to manage

(39:39):
assets in case of incapacity without needing court intervention. An
attorney can help with this.

Speaker 2 (39:47):
What does quote care options end quote mean?

Speaker 5 (39:51):
To answer your question, care options refer to the various
choices available to support individuals.

Speaker 6 (39:59):
As their needs change.

Speaker 5 (40:01):
Care planning involves proactively exploring these options to avoid hasty
decisions in the future. This includes touring assisted living facilities
and nursing homes beforehand, allowing you to select a preferred
option and plan accordingly. Additionally, having family discussions insureds everyone

(40:25):
understands the desired care and who will be involved. It's
really best to create a plan while you're still able
to make decisions. A good starting point is focusing on
financial security as proper planning can help protect your life savings.

Speaker 6 (40:43):
This also relieves your.

Speaker 5 (40:45):
Loved ones from the burden of making difficult choices later on.

Speaker 2 (40:50):
That's so important. No one wants to see a family
torn apart because the family members were not prepared. Some
people want to age at home, others and up in
a facility, but if there's no plan, it can turn
out to be a very painful battle and disaster.

Speaker 6 (41:07):
I couldn't agree more.

Speaker 5 (41:08):
When there's a written plan in place, everyone is on
the same page, wishes were made clear, funds were allocated properly,
and it's a lot less stress on loved ones.

Speaker 2 (41:20):
Kelly Where can our listeners go to learn more and
start putting a long term care plan in place.

Speaker 5 (41:26):
Our listeners can contact us for a free consultation. Our
Kelly Advisors meet regularly with seniors and their families to
discuss their options and create personalized plans that safeguard both
their assets and their future. Additionally, we offer a complimentary
investor guide But What if you need long term Care,

(41:48):
which explores the advantages and disadvantages of common long term
care payment methods. We advise discussing these options with a
licensed insurance agent, tax advisor and attorney to ensure all
avenues are considered.

Speaker 2 (42:05):
To get the guide and make a complimentary appointment with
a Kelly Financial Advisor, called eight eight eight eight hundred
eighteen eighty one or email Kelly at Kelly Financial dot org.
That's all the time we have for now. You're listening
to Safe Money Strategies the radio show heard right here
on WRKO and streaming on the iHeart app. It's stay
tuned and we will be back into jiff.

Speaker 4 (42:30):
Kelly Financial Services. Call eight eight eight eight hundred eighteen
eighty one.

Speaker 5 (42:36):
Hi, I'm Kelly Kelly from Kelly Financial Services. What do
you look for when choosing a financial advisor? We like
to believe is based on shared values, trust and knowledge.
We've been serving clients in the Greater Boston area for
more than twenty years now. If you have investable assets
and want to learn more about our experience, call us
eight eight eight eight hundred eighteen eighty one or email

(42:58):
Kelly at Kelly Financial Org to set up a free
retirement consultation where Keny Financial.

Speaker 4 (43:04):
Come retire with us Safe Money Strategies Cool eight eight
eight hundred eighteen eighty one. Well, goe to Kelly Financial
dot Org.

Speaker 9 (43:15):
Welcome back, Mike, you said, and you are listening to
safe money strategies. Joining me in the studio this morning
is Charlie Gable. Charlie, what do you mean when you
tell retirees to avoid excess lazy money.

Speaker 10 (43:28):
So to preserve your finances from the erosive effects of inflation?
It's really important not to hold excessive amounts of money
in low or no interest earning accounts. So clinging to
that cash, especially during uncertain times, might seem wise, but
it's the comfort of a financial cushion for life's unexpected urns.
Having a horde of cash and excess of what you

(43:48):
might reasonably need to cover emergencies can be an extremely
inefficient use of that savings, considering this money might be
needed later in retirement. As a general rule of thumb,
the Staate advice is typically to have about three to
six months of expenses set aside and kept liquid in
case of an emergency.

Speaker 9 (44:06):
While I'm not a big proponent of a one size
fits all rule due to varying individual needs and circumstances,
let's assume this three to six months is appropriate for
a retired individual with expenses of four thousand dollars per month.
That would mean the appropriate size of his emergency fund
would be between twelve thousand and twenty four thousand. I've

(44:27):
met with new clients with similar expenses who have a
lot more than twenty four thousand sitting in their checking
accounts earning no interest.

Speaker 10 (44:34):
Yeah, So, for illustrative purposes, let's assume that someone has
thirty thousand dollars more than they might need in their
savings account to cover an emergency. So the national average
savings account yield is approximately zero point six two percent
apy according to Bank Great Survey of Institutions as of
the week of February seventeenth, twenty twenty five. Maybe he's

(44:56):
fortunate and never experience as an emergency or for this
cash throughout the retirement. After just thirty years, earning an
average rate of er point sixty two percent, that balance
would have grown to a whopping thirty five thousand dollars.
But let's assume that instead you take that thirty thousand
invest it and it's able to earn an average rate
of seven percent. After thirty years, that balance is now

(45:19):
over two hundred and twenty eight thousand dollars.

Speaker 9 (45:22):
One of the problems with lazy money can extend beyond
emergency funds. If you are not careful, you can potentially
find incidents of it throughout your IRA four oh one
K brokerage accounts and retirement investment portfolios. As we age,
a shift towards more conservative investments is natural and prudent. However,
being overly cautious can be counterproductive. Extremely low risk investments

(45:46):
can fail to keep pace with inflation, leading to a
decrease in the purchasing power of your savings over time.
A portfolio that includes a mix of stocks, bonds, and
other assets can help provide both growth potential and confidence.

Speaker 10 (46:00):
This is typically referred to as an asset allocation, which
is the diversification of your retirement account across stocks, bonds,
and cash. Your age is a primary consideration when you're
managing allocation, because the older you are, the less investment
risk you can likely afford to take. Now, as you
get closer to retirement age, your risk tolerance decreases dramatically
and you can't afford any wild swings in the stock market.

Speaker 9 (46:22):
This means that it is appropriate to become more conservative
as we age.

Speaker 1 (46:26):
The problem is that some people go too far.

Speaker 9 (46:28):
Instead of a mix of fifty percent stocks and fifty
percent in less volatile, more conservative financial instruments. They may
choose to have a much smaller percentage in stocks, or
perhaps entirely avoid investing any money in the market. The
reason that some exposure to this risk of the market
can be appropriate is due to its historically high growth rate.
The S and P five hundred index has produced a

(46:50):
compound annual growth rate of nine point seven percent over
the past ninety five years.

Speaker 10 (46:56):
Now, let's consider a sixty five year old individual with
a one million dollar retirement portfolio. Her adviser recommends she
allocate fifty percent into an S and P five hundred
in dex fund and the remaining fifty percent to a
more conservative financial instrument. But she's extremely risk averse, and
she decides to place one hundred percent of the portfolio
in that conservative instrument and avoid the market altogether. This

(47:17):
might be perfectly appropriate for her based on her level
of comfort with risk, but it is important to think
this through as to what it might mean in the
long run.

Speaker 9 (47:27):
Yeah For example, assume that the one million dollar portfolio
averages a consistent annual rate of growth of three point
five percent over the next thirty years. Let's also assume
that she withdrew five thousand each month from her portfolio.
How long would the one million last under these circumstances. Well,
after twenty five years, the balance would be entirely depleted.

Speaker 10 (47:50):
Now, if she had instead allocated fifty percent of that
portfolio to the stock market, and assuming this achieved a
consistent annual growth rate of seven percent, she could have
withdrawn five thousand dollars each month for forty five years
and still have money remaining in the account. Understand we're
not suggesting that she or anyone should take on more

(48:11):
risk than their comfortable taking. Instead, my point is that
it's important your savings works hard to help improve the
chance that it'll provide you with the financial support In
case you live a long life, you should look at
the total returns your portfolio is generating and see if
there might be ways to allocate the assets a little differently,
but still within your comfort level of risk, to see

(48:32):
if it might be possible to potentially increase its overall returns. Again,
even a small increase can provide a significant difference over time.

Speaker 9 (48:41):
In today's world, living longer isn't just good fortune. It's
one of many key factors that could reshape the way
we think about retirement. The big question that your retirement
plan must attempt to answer is how can you make
sure your savings keep up with you all longer life.
As the examples highlighted today illustrate, often even little adjustments
can make a huge difference. Making small changes to your

(49:03):
retirement plan now can lead to big benefits down the line.
Retirement confidence is all about well thought out tweaks that
help ensure your financial future for the long haul.

Speaker 10 (49:13):
If your word that your retirement savings might not stretch
as far as you need them to, it's time to
take action and call us today. Schedule that complementary consultation
with our team. You can reach us at eighty eight
eight hundred eighteen eighty one. Call in, schedule that appointment
and let us walk you through our complete retirement income
review and analysis.

Speaker 12 (49:34):
With that.

Speaker 10 (49:34):
My name's Charlie Gable.

Speaker 9 (49:35):
And I Mike you said, join us next week For
more safe money strategies.

Speaker 4 (49:43):
Kelly Financial Services go to Kelly Financial dot og.

Speaker 8 (49:47):
Let me tell you about Kelly Financial Services. Retirement isn't
just about beach days or playing golf. You have to
consider taxes because Uncle Sam doesn't retire when you do.
In fact, if you're I'm not careful, he'll take a
big bite out of your savings. If you start pulling
from your four oh one k, sell that second home,

(50:08):
or inherit some money, you're gonna get hit with a
tax bill. And if you don't have a plan, your
wallt's gonna feel it. The advisors at Kelly Financial know
the ins and outs of tax efficient withdrawals, rough conversions,
estate planning, and will help you keep more of what
you've earned. Don't go into retirement unprepared. For a free

(50:29):
retirement consultation with a Kelly advisor. Call eight eighty eight
eight hundred eighteen eighty one eight eighty eight eight hundred
eighteen eighty one, or email Kelly at Kelly Financial dot org.
That's Kelly at Kelly Financial dot org.

Speaker 4 (50:47):
Safe money Strategies call now on eight A eight eight
hundred eighteen eighty one or go to Kelly Financial dot org.

Speaker 12 (50:56):
We had a farm, chicken farm, twenty and acres. Can
you believe that would probably be worth thirteen million dollars today?
The twenty seven acres, But there it was about three
quarters of a mile from the main street, which was
paradise and all the trappings of being Irish, being Catholic
and loving life. I guess there's a big rage out

(51:16):
there right now for Chinese mothers. There's some women in
the Wall Street Journal and how they raise their superior
children apparently. As someone who has spent time in the
Far East, I can tell you there are many sad
people over there, and one of their keen wishes in
life is to come here and have what we have here.
So hats off to the Chinese moms. But wait a minute,
I don't know what's better about their parenting style, and

(51:38):
I don't want to get into an ethnic war here.
But the author indicated that the Chinese apparently are superior
parents in part because they don't allow sleepovers, they never
allow play dates, they do not allow their children to
be in school plays. Their children are not allowed to complain. Wow,
So basically every single thing that my kids do or

(51:58):
have done would be disc What would we do. We'd
sit around and watch them work on their homework or something.
They're not able to watch TV or have screen time,
play games unless it's controlled, and their children are not
allowed to participate in extra curricular activities unless the parent
has chosen them and their child must be the number

(52:18):
one student or in the ninety ninth percentile, and it's
called tiger parenting. How do you like that? Does this
tiger parenting actually mean something? Because in my family we
were a bit different. We slept over our cousin's house constantly,
and I think that's how my folks got us out
of the house so they could manufacture more kids. What
happened if we didn't get all a's in school, Well

(52:39):
that was okay with my Irish mom, because we were
taught that effort was important and respect for our teachers
was important. So we picked our own excurricular activities. By
the way, in school, what were mine? I worked on
Dollars for Scholars, which was a program for people who
were less fortunate than us. I don't know how that
could have happened with the poverty that we lived in,

(53:00):
but we were out there looking for less fortunate people
to help them. So there you go. I guess you
can always find some right other groups. I was in
Junior Nights of Columbus Student Council, Class President, Boy Scouting
Class President, National Merit Scholar, member of the National Honor Society,
Rhode Island Honor Society, and I was in Who's Who
in American high school nineteen seventy one, ran track, played football.

(53:22):
That's about it.

Speaker 3 (53:23):
Now.

Speaker 12 (53:23):
No one really chose these for us. Our parents were
too busy and getting rides from my folks to and
from any activity was out of the question. How did
we get there? We hitchhiked or we bummed a ride.
As my dad said. Kids got wherever they needed to
go on their own because both parents were working in
our culture, so that was kind of part of the deal.
So I guess we're proud of our culture. I used

(53:46):
to caddy a lot. I was an acchoir group that
went to nursing homes. I also loved caddying. I loved poetry,
I loved reading. So that's what we did back then.
Is an Irish mother better than a Chinese mother, I
don't know. I'm sure chineseldren love their moms the same
way we loved our mom. But whatever your mom's nationality,
I know you love her. I hope you do, and
I hope you had a great impact on you. Our

(54:08):
culture was great and we had a good time. My
mom was half Italian half Irish sold get the best
of both worlds with her good foods, good stories, and
sometimes a good spanking with the wooden spoon. So what
do we learn? You'd better try, you better respect your teachers,
and you better behave in church. We worked on the farm,
we went to school, We loved our teachers. At home,
we slept with a pile of puppies. If I made mistakes, sure,

(54:30):
but I'd pray about those all the time. And I
missed my mom. So eight eight eight eight hundred twenty.

Speaker 4 (54:36):
Eight eight one Safe Money Strategies eight eight eight eight
hundred one eight eight one Comratie with us.

Speaker 5 (54:44):
I'm Kelly Kelly from Kelly Financial. Managing finances can be
challenging at any stage of life, but when cognitive decline
sets in, it can become overwhelming. That's when you might
want to turn to a trusted financial professional. The advisors
say Kelly Financial can help seniors put well structured long
term care plans in place, protecting not just their financial assets,

(55:08):
but also easing the emotional and logistical burden on their
loved ones. We also have a free investor guide called
but What if You need Long Term Care? Which breaks
down the options available to you. A smart long term
care plan ensures the right resources are there when you
need them, keeping you in control of your future. For

(55:29):
the guide or for a free consultation with a Kelly Advisor,
call eight eight eight eight hundred eighteen eighty one or
email Kelly at Kellyfinancial dot org where Kelly Financial.

Speaker 6 (55:42):
Come retire with us.

Speaker 4 (55:44):
We're listening to Safe Money Strategies Radio. To listen to
this or any show in its entirety, go to Kelly
Financial dot org and click radio rewind that's Kelly Financial
dot org.

Speaker 1 (55:59):
The newsbreak is coming.

Speaker 2 (56:00):
Up, and during the break, take the time to give
a call at eight eight eight eight hundred eighteen eighty
one and make that all important first step to secure
your retirement future. Talk things through with a financial advisor
about any aspect of retirement or money management, whether it's
your portfolio, concerns about health care, or if you're tossing
around the idea of relocating or maybe helping out with

(56:21):
your grandchildren's college. You see, a financial advisor isn't only
about the stock market. That's only a portion of the
job description, and in the end you'll be amazed at
how very small adjustments over time can have enormous results
when it's time to retire. In fact, these adjustments can
be the difference of when you can retire, or in
some cases, whether you can retire at all. So call

(56:42):
us at eight eight eight eight hundred eighteen eighty one
or visit us at Kelly Financial dot org and raise
a toast to your financial future. Eight eight eight eight
hundred eighteen eighty one. Kelly Financial Services with offices in
Braintreet and Burlington. All Right, see you next week is
expressed by the host, his guests or employees of Kelly
Financial Services are solely their own and do not reflect

(57:04):
the opinions of Kelly Financial Services. Information has been obtained
from sources teem to be reliable, but their accuracy and
completeness cannot be guaranteed. The information provided as general in
nature and is not intended to be specific investment, tax
or legal advice.

Speaker 7 (57:14):
It is always advisable to consult a professional before making
a financial decision.

Speaker 2 (57:18):
The host is a client of Kelly Financial Services in
exchange for hosting the Safe Money Strategies Show and providing
testimonials of his personal experience as a client of Kelly
Financial Services, Kelly has wailed the host's advisory v in full.
Because of this arrangement, where the host receives compensation in
the form of a fee waiver, the host has an
incentive to recommend Kelly Financial Services, resulting in a material
conflict of interest,