Kelly O'Connor

Imagine you’re in a tight spot and urgently need $50,000. You’ve explored all avenues for help, but your options are dwindling. Then, a lifeline appears: a $50,000 check is handed to you. Sounds like a relief, right? However, there’s a twist. On the memo line of that check, the word “loan” is written in bold letters. Suddenly, hesitation sets in. What are the terms? What’s the interest rate?

Now, let’s turn this scenario on its head and bring it closer to home—your financial portfolio. This story bears a striking resemblance to one of the most common financial tools many people use: the 401(k). Consider it like that check with “loan” written on it, but in a different context.

Think about it. Just like in the story, your 401(k) might seem like a saving grace, a security net for your retirement. But there’s a catch. Similar to how the terms and interest rate were unclear in the story, the terms and rules governing your 401(k) can be just as ambiguous.

Imagine if you had a million dollars in your 401(k). How much of that is truly yours? The answer isn’t straightforward, just as it wasn’t in the check story. You’re essentially partnered with the IRS, and they haven’t taken their share yet—the taxes you’ll owe when you finally access your funds. It’s as if you’re holding onto a check with “loan” written on it, unsure of the repayment terms and interest.

This brings us to the heart of the matter: the unknown interest rate. In your 401(k), the tax rates aren’t set in stone, much like the interest rate wasn’t defined in the story. Your retirement savings are at the mercy of ever-changing tax laws, rules, and regulations.

Now consider the long-term implications. Retirement accounts like the 401(k) are meant to sustain you throughout your golden years. But how do you strategize when you’re navigating a financial landscape of uncertainty? Planning for the future becomes a guessing game, much like trying to predict the terms and interest rate of that hypothetical loan.

So, what can you do to avoid this financial pitfall? It’s about creating a strategy that factors in the inevitable—taxes and changing regulations. As you plan for your financial future, remember that just as you’d question a loan with unclear terms and an unknown interest rate, you should question your investment vehicles. Seek strategies that provide transparency, predictability, and adaptability.

By being proactive and exploring avenues that prioritize your financial stability and flexibility, you can avoid the trap of the “Check Story.” Take control of your financial narrative and build a secure future rooted in clarity, knowledge, and smart planning.

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Kelly O’Connor is a master coach and trainer with a decades-long career in sales, marketing, and insurance. An industry leader, alongside top producers developing programs, he quickly became Colorado’s #1 speaker within the charter school system, traveling the state to speak in front of thousands of people and financial planners. A true visionary and figurehead for the community, he’s invested hundreds of thousands of dollars in marketing, coaching, and training masterminds and mentors.

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Hollie Clere,  Social Media Strategist

After having had a bad experience with a financial person in the past, I asked Kelly some hard questions before even introducing him to my husband. Most of it had to do with trust, focus and decisions we had gotten hurt with in the past. Kelly not only paid attention to every detail to the aspects to my questions but showed me where we had made some great choices and talked about the importance of each decision. He nis relationship focused. When my husband met him, Jer’s demeanor switched from debate to encouragement. Kelly’s presence alone made my husband comfortable and they visited about a lot of aspects of things.

Greg Peterson,  Founding Partner

Kelly was excellent to work with. His different approach at looking at money was an eye opener to us. We will continue to work with Kelly in the future and highly recommend having Kelly involved when it comes to investing.

Edward Hilton,  Chief Technology Officer

Kelly has exceeded all of my expectations. He provided education, experience, excellence and integrity! This is so important when working with a client's personal finances. As a school educator I appreciate his focus on education so that I could make the most informed financial decisions. I have a much clearer understanding of banking, finance, and investment now, and this will help my family currently and in the years to come. Thank you Kelly and kudos to the Mountain Financial team!

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