Kelly Advisor Podcast

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

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

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

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

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

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

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

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

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

1. Northwestern Mutual's 2022 Planning & Progress Study found that 60 percent of U.S. adults say that the pandemic has been highly disruptive to the way they manage their finances. But they have taken certain actions to buttress longer-term financial security.  
2. DALBAR's 2022 Quantitative Analysis of Investor Behavior (QAIB) report found that the Average Equity Fund Investor finished the year with a return of 18.39 percent versus a Standard & Poors 500 return of 28.71 percent, an investor return gap of 1,032 basis points (bps).
3. The reports seem to support the idea that emotion costs you money while discipline makes you money.   

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

1. According to Pew Research, over 50 percent of older workers are now out of the workplace. That is up from 48 percent just prior to the pandemic. 
2. Older workers continued to work through recessions dating back to the 1990s. The pandemic-induced recession in 2020 saw that trend reverse.  
3. The 2008-2009 Great Recession saw personal wealth decline markedly. The economy and capital markets decoupled during 2020-2021. Financial assets and real estate saw record gains, allowing personal wealth to grow correspondingly. Older workers took notice. And took action.