Kelly Financial: Saturday, September 5, 2026

0:00I'm William Kelly and it's an honor to carry on a family legacy rooted in real-world values and practical advice. Kelly Financial was founded in 2003 by my parents, my late father Bill Kelly and my mother Kelly Kelly and Braintree Ann Burlington, Massachusetts. Just two years later, a dad launched safe money strategies on WRKO as a no-nonsense call-in radio show focused on common sense planning and protecting wealth. Over the past two decades, Dad became a pillar in New England Finance, an engineer-turned-on-chip renur, author and philanthropist who believed in giving back and walking the tall. Since 2005, our show has remained a Saturday morning staple, offering

1:01insight and empowerment. Here at Kelly Financial, we helped steer it over $800 million across our affiliated business, including more than $600 million managed by our SEC registered investment advisory where fiduciary care and our family first philosophy guides us. On safe money strategies, you'll hear candid conversations with the team. My mother Kelly, myself, advisors Charlie Gabel, Mike Dussett, Greg Workman, Greg Murray, my sister Mary Madeline, Tom Schlager and Josh Smith. We live by two rules, never quit and carry on and we're here to help you do the same when it comes to your money. Stick around, take notes and join the conversation. To learn more or get our free guides or schedule a consultation, visit kellyfinancial.org or call us at 888-800-1881. This is Safe Money Strategies. Next up, forever young with Kelly Kelly and myself William Kelly June. Safe Money Strategies with William Kelly and Kelly Kelly, 888-881.

2:13Each 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 a part of the show we call forever. Youngest where I sit down with my handsome son, William Kelly Jr. and we talk about life was going on in the world and our family and what really matters most when you're planning for the future. Sometimes it's light, sometimes it's thoughtful but it's always real. Good morning, William. Good morning, mom. How are you? I'm doing great. How about yourself? Doing fantastic, absolutely no complaints. Good. I am back in school once again. I can't believe it. It's been a fantastic summer full of studying and studying and also a little bit of studying and I passed my series 65. My nature of biosar now. I'm able to walk into school with a fresh sense of confidence and I think I want to talk a little bit about my classes since I think for those who are interested

3:17in listening and seeing what I'm up to and what a 20-year-old is doing in a sophomore year of college. I'll explain. Yeah. So this year I'm taking principles of accounting. I'm taking statistics. I'll be taking career launch. Bryant is very serious about career. So they help you with your cover letter, your resume, setting up your LinkedIn, essentially providing all the basics that you need to get a job and not just that but Bryant has the ninth best career center in the United States. We just beat the top 25 I think three years ago and then we're top 16 in this year. We are number nine. We are ranked that high in the country. Oh wow. Bryant is doing pretty darn good. They're working extra hard. I really like my professor. She's very nice. She's very knowledgeable. When I mentioned the series 65 she's very familiar with that exam. She said that's a tough exam and she said congratulations. She's very kind and we talk and spoke after and fidelity, believe it or not, is really close with Bryant. For those of you who don't know, our custodian

4:22is fidelity. So the folks who hold your money if we do business together would be fidelity. They would hold your brokerage accounts and they actually donated a building used to be like sort of one of their branch offices, beautiful building. They donated it to Bryant essentially and it's now our business center and it's beautiful. I have my accounting class. It is beautiful. I love it. It's incredible. It's huge. It is huge and there's so much to do in there. There's a lot of resources. There's Bloomberg terminals in there. You've everything you'd need. I cannot wait to take advantage of that and finally have a class over there. I've been looking forward to it forever. Now my intercultural communications teacher is from Japan. Anner name is Emmy is her first name. She is a true blooded Japanese woman and she has the energy. She has the passion and she's super, super sweet. Very accomplished. You know, has her PhD. Most professors do but her resume is really impressive. She's the dean of a lot of like

5:25international board here at the school. As I do with all my professors, I send them an email. I introduce myself, tell them a little bit about myself and I always offer a copy of my book and I always hand them a copy of my book. Good. Good idea. I love doing it and I also love to hear the feedback from professors as well, especially from different fields of study. It's very interesting and helps me become a better writer for the next book. She was so sweet. When we were doing the icebreakers, which are little things you do at the beginning on your first class during syllabus week where they say, I give me your name, mention your name to the class, a fun fact about yourself, what your major is, what you're from. I said, oh, my name is William Kelly. Fun fact about me. I'm a financial advisor. I'm from Rhode Island and she goes, why don't you tell them about your book? She holds up the book to the class. She's like, oh, look at you. And I'm bringing them out. So I'm on the spot right here. And so I spoke a little bit about the book. I said it's a financial roadmap for written for people age 18 to 28, but it's really for anybody. And

6:31just gives financial guidance and sort of a path for the future. And she just loved it. She thought it was so sweet. And she is so, the reason I say she's true and true Japanese is because she is so respectful. And gift giving is really important to Japanese culture. And I think she really appreciated that. And she's also just a very, very bubbly kind person. Quite on the contrary, my stats professor is a very, very straightforward, direct, very focused man. He's a very strong syllabus. He's very, he said classroom decorum is extremely important year to be a very professional, 50% of your grade will be exam based another 20 or 30% will be your quiz grades. I'll drop the lowest. And he's very clear about 10% homework, 10% attendance. And he's also very strict on no negotiating grades, no excuses, unless it's an excused absence or what not. No retakes, no extra credit. He's very direct reminds me of a very great teacher I used to have. And a lot of people

7:34are complaining about it and etc. But little does he know I love that kind of teacher. I love a challenge. Okay. He's also a good professor. I can tell. Good. He's not just a mean professor. He's doing this because he says like, Hey, the world's a little competitive and it's serious out there. I actually appreciate that. And he commands respect. And I respect that a lot. You know, a good friend of dad said this was you know, this is actually stuck with me. He texted and said, William, you're now fiduciary. Who you hang out with? The people you associate yourself, the way you carry yourself, all changes. You're now a servant and almost a certain way about you is going to be different now because you're a fiduciary. And honestly, I was really excited. I just passed the test and you know, I was just in the process of registration. I was in the middle of getting my license and I actually sat there for a minute and I seriously thought about that and I said to myself, he's right. It was almost like dad was supposed to tell me that but he said

8:38it for him agree in his stead. And I really appreciated that he told me that because that has given me a complete different outlook on a lot of things. How I want to approach this year. What kind of advisor and servant I want to be to other people. The type of people I want to be around. The things I want to associate myself with and how important it is to do the right thing for other people now. That this is a different level of standard. And if anything makes me more confident and more proud to be one. And honestly, I think about this. This is the right role for me. This is the right job. It's what I want to do and I want to do it for the rest of my life. So I'm incredibly lucky and it's a privilege to be a fiduciary and I want that new standard of living to not just be approached at Kelly financial and being an advisor but I also want to take that approach with school

9:40with my friends with how I treat other people who I associate with what organizations I associate with because now I have to do my due diligence on everything. Now I have to care a lot more than I did before because it's not the Wild West. I'm a professional. So I have to treat it as such. So I had shut down my business. I had put everything else in the side. We went on one family vacation over the summer. That was about the fun we had but everything else was pretty much focusing on this license and the more I did it the more passionate I felt about it and the more disciplined I felt and the more sure I am about my role in the world. I cannot wait to get going but I also cannot wait to to to attack other things in my life and to to to make more accomplishments and and have that standard while I do so. So it's been pretty awesome. It's been a fantastic first week. Do keep us on your dial. We got a lot of great content coming your way might do said in Greg

10:44Workman will ask an important question. Are you getting your money's worth from your financial advisor and how do you measure the value you're really receiving? Mary Madeline Kelly and Greg Murray will break down what rising bond yields really mean and why understanding the role bonds play in your portfolio matters more than reacting to the latest headline when William and I return we'll talk about how retirement can open the door to a whole new chapter and how to build a second act filled with purpose and of course we'll close the hour with some wit and wisdom from the late Bill Kelly whose 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. We'll be back with more great content. I love you honey. I love you too.

11:46Okay my friends let me tell you about Kelly financial services. You know what's ironic? People spend 40 years dreaming about retirement because they think life is finally going to slow down but then retirement gets here and the phone keeps buzzing. There's breaking news political drama market chatter healthcare stories somebody on television is telling you there's something new to worry about every 15 minutes no wonder retirement can sometimes feel more stressful than people expected. Here's the thing you can't control every headline but you can take steps to be better prepared for the retirement decisions ahead that's why Kelly Kelly and her team at Kelly Financial are offering a free copy of Kelly's book retire your fear plan your future it addresses some of the important questions people face as they plan for retirement call 888 818 81 or email Kelly at Kelly financial

12:49dot org to request your compliment to recop. Welcome back to safe money strategies I'm Mike Dussett chief operating officer at Kelly financial services and joining me today is Greg Workman investment advisor here at Kelly financial Greg today's topic is one that everybody can relate to because we're going to talk about something we all do every day comparing prices. We do it constantly you're buying something online you check another website you're shopping for a car you compare dealerships you look at different insurance companies internet providers and cell phone plants right we're always asking ourselves what am I paying and what am I getting in return so here's the question we're going to ask today are you getting your money's worth from your financial advisor that's a good question and I think it's one that people should ask and asking about fees is not only appropriate it's important at Kelly financial services we're fee based on the investment side of our practice our clients paid an advisory fee for the investment management

13:50and financial planning services we provide you should know what you're paying your advisor but there's another question that deserves just as much attention what are you getting for that fee and that's where the conversation changes from price to value right there's a warm buffet quote that fits this conversation perfectly price is what you pay value is what you get you might find two products that cost different amounts the question isn't necessarily which one is cheaper it's what you're getting for the money you're spending the same thing applies to financial advice and you're not just paying for an investment product you're paying for a relationship and a service that's the important distinction let's start with the first question what exactly are you paying for when we meet with prospective clients at Kelly financial services our safe money strategies process starts with designing a written financial plan we're looking at the entire financial picture where you are today where you want to go your retirement goals income needs investments and

14:55other financial decisions that need to fit together and here's something people should ask their current advisor can you design a financial plan for me and if so is there an additional charge for it because some firms may charge a separate fee for financial planning that's right at Kelly financial services our advisory fee covers the planning it's part of the relationship and the planning doesn't stop with investments taxes are another area where financial planning can potentially create significant value we do tax planning is part of our process but we need to make an important distinction we are tax planners not tax preparers we don't prepare your tax return we work with clients to look ahead and identify potential tax considerations and opportunities and sometimes the biggest tax mistake isn't what happened on last year's return it's a decision you're about to make that could have been planned differently correct let's say you're retired

15:55and need to take a significant withdrawal from an IRA maybe you need 50,000 if you simply take the withdrawal without looking at the rest of your income you could potentially push additional dollars into a higher tax bracket now imagine looking at the numbers ahead of time maybe you could take part of the withdrawal in December and part in January maybe there's another way to structure the income we're not promising a tax savings in every situation but planning ahead gives you options and you can't go back and change a decision once the tax year is over that's the point so when you're evaluating the value of your advisor don't just ask what you're paying for investment management ask whether financial planning and tax planning are included in whether there are additional charges then you get into the investment site right step two of our safe money strategies process is the investment analysis one of the things we do is a fee comparison we look at what you're currently paying and compare that with what you would pay if you decided to work with

16:59Kelly financial so the client can see the numbers side by side yes we also do a historical performance comparison we're not just saying here's our portfolio we think it's better reporting the information in front of the clients so they can make an informed decision we can look at the historical returns of the current investments compared with the investments we would recommend now we always include the appropriate disclosure past performance does not guarantee future results performance is obviously a major part of the value conversation it may be number one for some investors most clients are going to look at their investment return and ask is this worth what I'm paying that's a perfectly reasonable question but performance shouldn't be the only question because two portfolios could have similar returns but very different levels of planning and service behind the right think about two investors who both earn the same return one gets an annual statement and handles everything on their own the other has a written financial plan regular reviews tax planning

18:05investment analysis a primary advisor and a team available when questions come up those two investors may have the same investment return but they're not necessarily receiving the same service and that's where value becomes more difficult to measure it does you can put a number on an investment return and an advisory fee but what's the value of identifying a potential tax issue before you make a withdrawal what's the value of having someone review your portfolio when markets become volatile what's the value of having a plan before you make a major financial decision those things don't always show up on an account statement and that's really the bigger conversation it is so when we come back I want to talk more about what you're actually getting from an advisory relationship that people you have access to how often you're meeting the ongoing planning process and some questions you can ask your current advisor to determine whether you're getting your money's worth you're listening to safe money strategies we'll be right back

19:06. Kelly Financial Services 888 888 1881 this episode sponsored by Eureka Ergonomic here's something nobody talks about when designing a home office why is it so easy to find a beautiful sofa but so hard to find a desk chair that doesn't look like it came from a corporate office most office chairs look like they belong in a sad cubicle not in a thoughtfully designed home they're bulky overly technical and can completely throw off the look of the room that's why I like Eureka Ergonomic their leather office chairs reimagine what executive seating can look like with a modern furniture inspired design clean silhouettes premium leather finishes and a refined aesthetic that actually elevates the room so instead of feeling like a random office chair you dragged into your home it feels like a piece that belongs with the rest of your furniture Eureka Ergonomic finally an office chair that works hard and looks like it belongs visit eureka ergonomic.com now to find a chair that finally fits your space and your workday

20:07that's eureka e-u-r-e-k-a ergonomic erg-o-n-o-m-i-c dot com fair warning bring home one minke couture blanket and suddenly everyone in the house will claim it as theirs that's the minke couture difference 17 years ago minke couture created the original luxury minke blanket and ever since we've been bringing comfort connection and softness to families everywhere crafted with premium quality and thoughtfully designed styles our blankets are made for real life cozy moments from movie nights and afternoon naps to slow mornings at home shop now at minke couture dot com that's m-i-n-k-y-c-o-u-t-u-r-e dot com and discover why minke quickly becomes everyone's favorite blanket i'm kelly kelly from kelly financial whether you're in your 60s 70s or 80s financial advice is important when it comes to preserving your nest egg we have a free investor

21:11guide called designing your fiscal house to weather the elements which highlights the steps needed to build a balance portfolio for the guide call 888 8881 or email kelly at kellyfinancial.org where kelly financial come retire with us the money wrap with kelly financial advisors Greg Murray and Mary Madeline Kelly good morning this is Greg Murray senior vice president and chief compliance officer at kelly financial services joining with today is Mary Madeline Kelly one of our wealth envisers how are you doing today good morning Greg i am doing great thanks for asking today i want to talk about something that's been getting quite a bit of attention lately and that's what's happening in the bond market we've seen treasury yields move higher particularly on the longer term bonds and i think a lot of people hear that and wonder is that good news or bad news that's right and bonds can be confusing because when we say yields are going up that generally means existing bond prices are going down bond prices and yields typically move in opposite

22:15directions so let's start there why have yields been moving higher recently there are several factors investors are watching inflation government borrowing and debt levels geopolitical uncertainty and of course what the federal reserve may do with interest rates going forward and i think that's important because there's rarely one single explanation for what's happening in the bond market exactly longer term treasury yields don't simply follow the fed reserve they're set by the market and reflect what investors expect about inflation economic growth feature interest rates and the risks of lending money over a longer period of time and we're seeing that play out right now longer term yields have risen significantly and that has created some anxiety among investors who own bonds but there's another side to higher yields that sometimes gets overlooked exactly higher yields can create better income opportunities for investors purchasing bonds today so while rising yields can create short term declines in the value of existing bonds they can also mean investors are being paid more income on newly purchased bonds and that's why we don't want people to hear bond yields

23:17rising and immediately assume that means bonds are bad right it really comes back to understanding why you own bonds in the first place for someone approaching or already in retirement bonds may be included in a portfolio to provide income help manage overall volatility or provide diversification from stocks in diversification is especially important in uncertain markets we don't want an investor's entire financial future dependent on one asset class performing well exactly and something else I think is worth explaining is that not all bonds are the same that's a very important point you have treasury bonds municipal bonds corporate bonds short term bonds long term bonds and different levels of credit quality each carries different risks and characteristics so when you hear a headline saying the bond market is struggling that doesn't necessarily tell you what's happening with every bond they own correct that's why it's dangerous to make broad financial decisions and higher treasury yields affect more than just bond investors they can influence borrowing costs throughout the economy absolutely treasury yields are important benchmarks for things like

24:19mortgages and corporate borrowing and longer term yields are made elevated borrowing can become more expensive for consumers and businesses so what should someone listening today actually do about all of this first don't panic second understand what you own and third make sure your bond allocation still serves the purpose it was originally intended to serve within your financial plan I think that's the key the question shouldn't necessarily be are bonds good or bad right now it should be what role are bonds supposed to play in my portfolio exactly and if your goals income needs or risk dollars have changed then it may make sense to review your allocation but a period of volatility alone isn't necessarily a reason to abandon long term strategy and of course bonds aren't risk-free bond investments can be affected by changes in interest rates credit conditions inflation and other factors and investors can experience losses diversification also doesn't guarantee a profit or protect against loss but today's environment is a good reminder that bonds can still serve an important role in a diversified financial plan and higher yields

25:21aren't automatically something investors should see or for some investors they may actually create opportunities for income that we simply didn't have when interest rates were near historic lows that's the takeaway don't let your medicaid lines about the bond market make the decision for you understand what's happening understand what you own and make decisions based on your overall financial plan exactly the bond market may be uncertain right now but uncertainty is exactly why having a diversified plan matters well said that's going to wrap things up this week if you have any questions about bonds fixed income or whether your current portfolio still lines with their retirement goals give us a call we'd be happy to help all right Greg thanks for your time and i'll see you next week to get fair warning bring home one minke kittour blanket and suddenly everyone in the house will claim it as theirs that's the minke kittour difference 17 years ago minke kittour created the original luxury minke blanket and ever since we've been bringing comfort connection and softness to families everywhere crafted with premium quality and thoughtfully

26:26designed styles our blankets are made for real life cozy moments from movie nights and afternoon naps to slow mornings at home shop now at minke kittour dot com that's m-i-n k-y-c-o-u-t-u-r-e dot com and discover why minke quickly becomes everyone's favorite blanket touch with Greg Murray or Mary Madeline Kelly or any member of the Kelly financial team call 888 818 81 safe money strategies with William Kelly and Kelly Kelly call the team on 888 818 81 taken care of business every day welcome back to safe money strategies i'm Kelly Kelly and joining me as my son and co-host William Kelly junior William we spend so much time talking about preparing financially for retirement but there's another side of retirement that i don't think people always

27:30prepare for and that's the question of identity think about it someone spends 30 or 40 years saying i'm a teacher i'm an engineer i'm a nurse or i own a business and then one day the answer becomes i'm retired that can be a much bigger adjustment than people expect absolute because your career isn't just where you earn a paycheck it can determine when you wake up where you go every day who you spend time with what responsibilities you have and even how you introduce yourself to people then retirement comes along and suddenly a lot of that structure disappears and initially that freedom can feel wonderful no alarm clock no commute no meetings no deadlines but eventually some people wake up and realize okay now what because having unlimited free time isn't necessarily the same thing is having a fulfilling life and i think that's an important distinction you can have

28:32a completely full calendar and still not feel fulfilled maybe retirement shouldn't be about asking how do i feel all this time maybe the better question is what deserves my time now i love that question what deserves my time now because retirement really can't be an opportunity to decide what matters to you and that may mean becoming a beginner again maybe you always wanted to paint or learn piano speak Italian write something garden study history maybe take photographs or restore furniture during your working years you may have continually said someday well retirement may finally give you that someday and you don't have to be good at it immediately if you take your first painting class at 68 your painting probably isn't going into a museum and who cares you're learning you're meeting people you're challenging yourself maybe you love it maybe you discover you

29:33absolutely hate painting and try pick a ball instead exactly and i think there's something freeing about that when you've spent decades becoming competent in your profession it can feel uncomfortable suddenly doing something you don't know how to do but one of the greatest freedoms of retirement is giving yourself permission to be a beginner again and will you sometimes those experiments can lead to something bigger than a hobby definitely because retiring from a career doesn't erase everything you learned during that career imagine somebody who spent 40 years in education health care engineering construction management or business there's an enormous amount of knowledge experience there maybe the next chapter is mentoring someone younger consulting a few hours a week teaching volunteering or helping a non-profit and i think mentoring is such a wonderful example a retired teacher might tutor a business owner could mentor a young entrepreneur

30:34someone who spent a lifetime in the trades might help younger people develop their skills your role changes instead of building your own career perhaps you're helping somebody else build theirs and a second act doesn't have to become another 40 or 50 hour a week job either you might consult 10 hours a week servo on a board or volunteer one or two mornings a week you can still have time for family travel and everything else you wanted retirement to include that's important because sometimes people retire and immediately recreate the same pack schedule they just left and busy doesn't automatically mean fulfilled one of the things people often miss about working is simply knowing that somebody needs them that's where volunteering and community involvement can become incredibly meaningful you might help at a school a library hospital animal shelter food pantry museum or community organization and there's another benefit it creates connection

31:40you have somewhere to go you meet people someone expects you to show up instead of saying I used to do this suddenly you're saying I'm helping with this I'm learning this or mentoring someone you start talking about your life in the present tense again I think that is such a powerful way to put it and purpose doesn't have to mean changing the entire world sometimes the purpose is simply knowing that every Tuesday morning somebody is genuinely glad you showed up ultimately this connects directly to retirement planning in my book retire your fear plan your future I ask readers to imagine what retirement might look like if financial strain weren't defining the answer would you travel spend more time with your grandchildren volunteer pursue hobbies mentor someone maybe even start a small business those are very different goals and they create very different retirement plans

32:42which is why saying I want a good retirement really isn't enough I want to volunteer twice a week travel with my grandchildren and spend every part of every winter somewhere warm now you're describing actual life and once you know what you want that life to look like you can start thinking about what it may require exactly at Kelly financial our advisors help individuals and families understand their overall financial picture so they can make informed decisions about the retirement they're trying to create because retirement preparation isn't simply about investments your desires ambitions and goals matter to your career may end but your experience talents relationships and your ability to contribute certainly don't disappear with your job title so don't just ask yourself am I ready to retire ask yourself an equally important question what am I retiring

33:44when we come back William and I will talk about practical ways to discover what your own second act could look like even if right now you have absolutely no idea where to begin we'll be right back safe money strategies brought to you by Kelly financial services call 888 818 81 or visit Kelly financial dot org I believe that this nation should commit itself to achieving the goal of landing a man on the moon and returning him safely to the earth six five four three two one zero all engine run let's go look at that follow up remember those Apollo moon missions one of America's greatest adventures and achievements two the nation set a goal and then realized it what are your goals at Kelly financial services we've got the right team and technology to help launch your

34:48retirement planning let us help you set and reach your goals for your greatest adventure and achievement call us at 888 818 81 or visit us at Kelly financial dot org where do you want to land here the Eagle has landed we are Kelly financial services come retire with us safe money strategies with William Kelly and Kelly Kelly call the team on 888 818 81 welcome back to safe money strategies I'm Kelly Kelly here with my son and co-host William Kelly before the break we talked about an important retirement question what are you retiring to but William what if someone hears that and says Kelly that sounds great but I have absolutely no idea what I want to do I think that's probably pretty common and maybe the answer isn't to

35:52immediately fill up your calendar instead start with three questions what do I love what am I good at and who could benefit from those things exactly think about things you've enjoyed throughout your life even things that have nothing to do with your career maybe you loved music before work and family crowded it out maybe you've always been the person who organizes things fixes things cooks gardens or listens when somebody needs advice then think about the skills you've developed and don't limit those skills to your job title maybe you're a good communicator maybe you're organized patient creative or good at solving problems those abilities can transfer into all kinds of different activities and ask somebody who knows you well and what they see in you sometimes other people recognize drinks that come so naturally to us that we overlook them once you have a few ideas though you don't need another 10 year plan experiment right you don't have to wake up Monday morning

36:58and announce I'm a photographer now and by thousands of dollars of equipment take a class first volunteer at one event before making a long term commitment try something and see what happens the outline for today suggests something I really like create a 90 day curiosity list choose three things you've wondered about and try them over the next three months maybe a class of volunteer opportunity and something completely outside your comfort zone then ask yourself did I look forward to it did I enjoy the people did I leave feeling energized would I do it again and if the answer is no that's okay finding out you don't enjoy something isn't failure it just means you've learned something about yourself absolutely retirement should not become a commitment to somebody else's idea of fun once you discover things you enjoy give them a place in your life by creating some anchors in your week maybe Monday morning is exercise Tuesday is

38:03volunteering Thursday is a class Friday is lunch with friends you don't need another rigid work week but a little structure can help keep the days from simply blending together and try to have some balance something for your body something for your mind something social something that helps somebody else and something you do simply because it's fun I like that and I especially like the idea of continuing to learn retirement may be one of the first times in adult life when you can learn something without needing a promotion a certification or bigger paycheck at the end of it you can learn simply because you're interested and there are plenty of opportunities libraries museums community colleges universities and online courses you can connect learning with something you already want to do if you want to visit Italy learn some Italian if you're interested in family history learn about genealogy and learning can create relationships to book clubs gardening groups photography classes

39:09and other activities naturally put you around people with shared interest sometimes one of those interests can even develop into a genuine second act maybe you want to continue working in some capacity but first ask yourself why is it intellectual stimulation social interaction extra income the desire to contribute because once you know what you're looking for you can find something that fits your life now instead of recreating your old career maybe you can salt one day a week volunteer another day or mentor someone a few hours a month and boundaries matter your second act doesn't have to consume 50 hours a week simply because that's how you've always worked you get to decide how much space it occupies in your retirement then comes one final step give your dreams a plan in my book retire your fear plan your future I ask you to begin with your pie in the sky if

40:12financial strain weren't defining your answer what would you actually want retirement to contain travel grandchildren service hobbies mentoring maybe a small business and then make one of those dreams specific instead of saying I'd like to travel choose a trip instead of saying I want to volunteer identify some organizations instead of someday I'll take a class find the class one something becomes specific you can figure out what it requires exactly some dreams cost very little others may involve travel expenses tuition transportation or startup cost that's why understanding your overall financial picture matters your resources are ultimately there to support the life you've worked to build a Kelly financial our advisors help individuals and families understand that overall picture so they can make informed decisions and think about how

41:14their resources connect with the retirement they envision your career may have been one chapter of your story retirement gives you the opportunity to decide what gets written next for your complimentary copy of my book retire your fear plan your future call Kelly financial at 888 8881 or email Kelly at Kelly financial dot org William always a pleasure always a pleasure more informative content coming your way safe money strategies brought to you by Kelly financial services call 888 8881 or visit kellyfinancial.org welcome back to safe money strategies I'm Mike do set chief operating officer at Kelly financial services and joining me today is Greg workman investment advisor here at Kelly Greg before the break we were talking about a simple question

42:15are you getting your money's worth we talked about comparing prices in everyday life but also about the differences between price and value and Warren Buffett's quote really sums it up price is what you pay value is what you get right when you're evaluating a financial advisor there's several pieces that should go into that value calculation performance is certainly one fees are another but let's talk about the service and relationship you're receiving at Kelly financial services every client has a primary advisor assigned to them so you know who your point person is you have someone who knows your financial situation understands your goals and knows the history of the decisions we've made together but you're also getting access to a team and financial questions don't always fit neatly into one category correct maybe you have an investment question maybe you're thinking about retiring maybe you inherited money maybe you're considering helping a child financially maybe you have a tax question or you're trying to figure out how a major financial

43:20decision could affect your overall plan having a primary advisor in a team behind that advisor gives you another level of support and then there's the frequency of communication that's a big part of the relationship our normal structure is a quarterly review call and an annual sit-down meeting so there's a consistent rhythm to the relationship yes your life changes your financial situation changes the market change your goals can change those regular conversations give us an opportunity to look at what's happening and determine whether anything needs to change and sometimes the most valuable part of the meeting has nothing to do with investment performance that's right maybe you're considering retiring earlier than expected maybe you're selling a business maybe you received an inheritance maybe you need to take a large distribution from an IRA those are planning decisions and that's where the value of an advisory relationship can really show up let's go back to the tax planning example because I think that's one people may not think about

44:24when they're evaluating their advisor I agree suppose you're retired you need to take money from an IRA if you simply take the money because you need it that's one approach but what if you have someone looking at your income your tax situation and your overall financial plan before you make the withdrawal maybe there's an opportunity to spread the income across two tax years maybe there's a different account that makes more sense to draw from first again we're not tax preparers and we're not guaranteeing a tax savings we're tax planners our role is to look ahead identify potential issues and opportunities and coordinate with your tax professional when appropriate and that kind of tax planning can have real financial consequences it can if planning ahead saves you money on taxes that could potentially offset a portion of the advisory fee or even more that's why I don't think you can evaluate an advisor simply by looking at the fee percentage you have to look at the entire relationship and that brings us back to performance it does most investors are going to

45:27look at their investment return and ask whether the advisor is earning their fee that's fair we do the same thing with clients during an investment analysis we provide a side-by-side historical return comparison we want clients to see how their current investments have performed historically compared with the investments we would recommend but again past performance does not guarantee future results performance is one piece of the equation because of performance is the only thing you're looking at you're missing a lot of the relationship right I'd encourage someone evaluating their advisor to ask some basic questions what am I paying what services are included in that fee is financial planning included or is there an additional charge do you provide tax planning how often will we meet do I have a primary advisor do I have access to a team how do you evaluate my investment performance and perhaps the biggest question what value are you providing beyond managing my investments those questions would give you a pretty good picture they would

46:31and if you're happy with the answers you're getting from your current advisor that's great maybe you're receiving exactly the service you need but if you can't answer those questions or you're not sure what you're paying for it may be worth taking a closer look and people shouldn't be afraid to compare no different than comparing your internet provider your cell phone plan or your insurance you're not being disloyal by asking questions you're simply trying to understand what you're paying for and whether you're getting good value and that's really the message today it is a Kelly financial services our goal isn't simply to manage investments our advisory fee covers the financial planning process investment analysis and ongoing investment management we provide tax planning while working with your tax professional on tax preparation we provide a primary advisor access to a team quarterly review calls and an annual sit down meeting and we believe the investment analysis should be transparent we look at what you're currently paying we compare that with what you would pay working with us we review historical investment performance with the understanding that

47:36past performance does not guarantee future results then the client can decide whether they believe the overall value justifies the fee and ultimately that's the client's decision absolutely when are he had to tell everyone that they need an advisor some people are comfortable doing it themselves but if you decide you want professional advice you should understand what you're paying for and what you're receiving in return so here's the question I'd encourage you to ask are you getting your money's worth don't just look at the price look at the value because as Warren Buffett said prices what you pay value is what you get I'm like do set and I'm Greg workman thanks for joining us for safe money strategies if you'd like to see how your current investment fees performance and overall advisory relationship compare with what we provide at Kelly financial services we'd be happy to have a conversation until next time take care hi everyone this is William Kelly have you ever wished you'd learn about money sooner that's why

48:39I wrote only the good invest young a simple encouraging guide with real world steps anyone can follow I kept seeing the same thing people wishing someone had explained the basics earlier how to save build good habits avoid costly mistakes and create momentum even when you're starting small and while all investing involves risk including the potential loss of principle learning the right habits early can make a meaningful difference over time whether you're 18 or 80 this book is about confidence clarity and taking that first step if you have a child a grandchild or someone just beginning this is a thoughtful place to start for our listeners we're sending out complimentary copies just call 888 800 1881 or email Kelly at Kelly financial dot org and we'll send you one you can also find it on Amazon or Kindle I'm William Kelly and I hope this book helps someone you love take their first step joining us now as she always does at this time she is the co-founder CEO

49:42and president of Kelly financial services and yes that is her wonderful name Kelly Kelly Kelly how are you good morning Jeff I am good you know Jeff for so many people work becomes a big part of who we are it gives us structure purpose in a reason to get moving every morning then retirement comes along and the question isn't just what am I going to do with all this free time it may be who do I want to become now retirement can be an opportunity to reinvent yourself to travel volunteer mentor someone rediscover an old hobby or simply spend more time doing what brings you joy in my book retire your fear plan your future I encourage readers to think about their desires ambitions and goals for this next chapter because retirement isn't simply about leaving work

50:44is about creating a life you're excited to live at Kelly financial our advisors can help you understand your financial picture and make informed decisions about what comes next for a complimentary copy of my book give us a call or email Kelly at Kelly financial dot org Jeff have a wonderful weekend my best of grace and the kiddos thank you Kelly all the best to you and everyone at Kelly financial to get a copy of that book retire your fear plan your future by Kelly Kelly and I urge all of you if you can do get it call now 888 888 1881 888 888 1881 or you can actually email Kelly herself personally Kelly at Kelly financial dot org that's Kelly at Kelly financial dot org safe money strategies 888 800 1 881 the people who shape our lives may leave us

51:56but the lessons the love and the memories they give us never really do in this week's width and wisdom we hear Bill look back on his grandfather his childhood on the farm and a way of life built around family around faith hard work and simple moments that became treasure memories here's Bill Kelly growing up seems to be a distant dream for me the life I had the relatives that surrounded me the large extended family my large immediate family my grandfather my folks my dad my brothers and sisters my dog mini all the different experiences we had growing up it is like a foreign land or another planet now things are so complex ladies and gentlemen especially if you've developed a great deal of wealth during the holiday seasons when I was a kid generally on Christmas Eve my grandfather would hand me an envelope and when I was nine years old there would

53:00probably be two dollars in the envelope and by the time I was out of high school in college the envelope had twenty five dollars in it and that was something that I waited for each year and we would sit at the table as he handed me the envelope it would generally be late at night and he would want me to review the year coming up what were my goals what was I thinking where was I heading well eventually I was heading out to learn aviation to learn how to simulate flight through computers this was in 1974 and the Air Force had agreed to send me to an extremely lengthy school and unthinkable to me or maybe something that I forgot that going to this school meant I was heading out the team was going to be basically broken up the team was my grandfather Tim Murphy and me but they were together twenty years that team Kelly and Murphy I guess you would call it when I was a baby I slept in a room with my grandfather Murphy and as I grew of course

54:05when I could walk and get out of the crib I went upstairs with the rest of the kids and we were piled up there one on top of each other and fighting for survival amongst us but that's what it was like on the farm in the morning at nine o'clock I'd wake up get dressed by nine I'd be down in the kitchen he would be up making me oatmeal generally I would eat my oatmeal I'm sure we had many long talks over that oatmeal he would have a cup of Maxwell House coffee with canned milk pet canned milk and one teaspoon full of sugar and he would have a piece of toast and once while we'd have a dog sitting at near the table with his head out my grandfather would dip his piece of toast and coffee and he'd give the dog one piece of dipped toast and that was many she was a little black mongrel that was the smartest dog maybe the smartest animal I'd ever been in round but after breakfast he would sit me on the table time I choose put my coat upon my shoulders

55:06maybe if it was winter I'd get my mittens and a hat and he and I would walk out the door and go down to do the chickens now he had a wire basket that would hold about 10 dozen eggs so he would feed the chickens we would walk down there with two buckets of water to put in the troughs and we do that about four times and then while the chickens were eating he would take the eggs you know we go and put the eggs in the basket we bring them and store them in the cellar and I do mean it was a cellar ladies and gentlemen it was stone walls in that cellar I think our house was built in probably 1880 the furnace was quite old there was a side room in that basement where we would store the eggs until Wednesday night and we would candle the eggs what how do you candle an egg you look at an egg and you make sure there's not a baby chicken in there and if there is you put it aside if there isn't you put it in the egg carton then we would bring the eggs down to the county food marty was called and we would turn them into mr. Sanchez and he would give us some money and we would

56:12get a credit and we would go shopping and my mother generally took us down there in a gray 55 Chevy station wagon with fins on it and sometimes I'd get candy but the first stop after the county food mart was industrial national bank my grandfather would make a deposit into his bank passport and he would come out of the bank and he would hand my mother a sum of money he would give it to me always as a joke and he'd say here give this to your mother you know and she'd take them whatever the egg money was that was left over and that's what she would do and in doing that she could support the house so we had food she had extra money and when he began receiving social security he used to give my mom half of that and he lived with us but he raised me we had dogs we had cats we had food we had bicycles we had tan me down shoes we had a sock bag whenever someone did a wash and the socks didn't match up you

57:13put the odd socks in a bag imagine seven kids and then every month or so we would go through the sock bag match up the straight pairs we had a rag bag of old sheets towels cloths and if we ever needed we've ever got cut we run over the rag bag and get out an old piece of sheet so that's how we lived we all had paper routes starting at eight seven or eight that's what we did we got to know people we got to work and we got to produce and we learned things by doing that now was it a perfect life no we had our problems did we get through them for the most part did we get through unscathed I don't know there's a lot of nicks on my soul and we try to soothe them and love can can sort of heal that and prayer that's why I love the Catholic Church so much this forgiveness and renewal that's what I love about it and the fact that we're invited in to do that but my life as far as what I can remember as a child the fields the sunny days the winter snow

58:17drifts the play the family dinners it's like a dream ladies and gentlemen that I think sometimes I never lived that life I just dreamt it and now I'm facing a reality that is so challenging sometimes I have to wonder are we up for this and in fact I believe deep in my heart I believe that we are up to it and we will prevail and I appreciate you listening and I hope you continue to listen call Kelly financial services 888 888 1881 I'm Kelly Kelly from Kelly Financial is your financial advisor a fiduciary in other words are they legally required to act in your best interest my complimentary book retire your fear plan your future explains what a fiduciary is and will help you understand if an advisor is really putting you first for the book call 888 8881

59:18or email Kelly at Kelly Financial dot org where Kelly Financial come retire with us save money strategies with William Kelly and Kelly Kelly go to Kelly Financial dot org all opinions expressed by the host guests or employees of Kelly Financial Services are their own and do not necessarily reflect the views of Kelly Financial Services as a firm information discussed on this program is believed to be from sources considered reliable however it's accuracy and completeness cannot be guaranteed the content provided is for general educational purposes only and is not intended to be nor should it be relied upon as individualized investment tax or legal advice all investing involves risk including the potential loss of principle any strategies discussed are designed to help support financial planning goals but individual need the preceding broadcast was paid for by Kelly Financial Services