Latest / WCHS Network Podcasts / 06/15/2026 Retire Right Radio with John Burdette

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06/15/2026 Retire Right Radio with John Burdette · WCHS Network Podcasts

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  Speaker 1: The views and opinions expressed on this program do not
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  Speaker 1: necessarily reflect the views and opinions of five ADWCHS, its
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  Speaker 1: employees or WVRC Media. This is retire Right Radio, a
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  Speaker 1: weekly show from John Verdet at Fourth Avenue Financial that
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  Speaker 1: aims to answer your questions about financial planning, investing, and
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  Speaker 1: how to retire right. Fourth Avenue Financial is located in
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  Speaker 1: downtown Charleston at one seventy Court Street. More information online
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  Speaker 1: at Fourth Avenue Financial dot com. Join the conversation by
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  Speaker 1: calling three oh four three four five fifty eight fifty
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  Speaker 1: eight or text three oh four nine three five fifty
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  Speaker 1: oh eight. On retire Right Radio, Let's go live to
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  Speaker 1: the studio with host Dale Cooper and John Verdett from
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  Speaker 1: Fourth Avenue Financial.
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  Speaker 2: Huss and very easy. Monday morning.
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  Speaker 3: To you.
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  Speaker 4: You're listening to retire Right Radio on five ADWCHS, the
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  Speaker 4: Voice of Charleston. I'm Del Cooper, Thanks for tuning in
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  Speaker 4: on this Monday morning. John Burdad is joining us in
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  Speaker 4: studio this morning from Fourth Avenue Financial. John, Good morning,
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  Speaker 4: how you doing this morning? I'm doing well, I think.
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  Speaker 4: Let me try that again one more time. How are
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  Speaker 4: you doing this morning?
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  Speaker 2: Jean, I'm doing great. Okay, worked on that one? Did
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  Speaker 2: that work?
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  Speaker 3: Yeah?
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  Speaker 4: Yeah, I've I've ran these boards enough. You would think
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  Speaker 4: that I would have some idea of what was going
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  Speaker 4: on here, but apparently not.
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  Speaker 2: Good morning.
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  Speaker 4: You're listening to retire Right Radio on five ADWCHS. The
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  Speaker 4: Voice of Charleston IMDL Cooper. John Burdett is in a
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  Speaker 4: studio with this this morning, taking your phone calls at
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  Speaker 4: three zero four, three four five fifty eight fifty eight,
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  Speaker 4: your texts messages at three zero four non three five
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  Speaker 4: five zeros your eight retire Right Radio every Monday, right
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  Speaker 4: here at eight twenty one five eight WHS. Jruhmberdet's joining
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  Speaker 4: me this morning, and as we always do, we kind
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  Speaker 4: of take a look at sort of the status of
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  Speaker 4: everything and how things are going things that This has
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  Speaker 4: become an interesting part of the show because every week
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  Speaker 4: it's sort of the same but same in different ways,
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  Speaker 4: if that makes any If that makes any sense.
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  Speaker 3: Yeah, the market, you know, firm back up last week
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  Speaker 3: and not quite actor record has but but getting close.
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  Speaker 3: It looks like the futures this morning are up pretty
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  Speaker 3: good and the war has apparently ended again, So for real,
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  Speaker 3: maybe I don't know, maybe for real, but the market
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  Speaker 3: is responding like it might actually be. Oil prices are
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  Speaker 3: way down. But but we'll see, you know, the market
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  Speaker 3: will take I'm sure, most of what's thrown at it
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  Speaker 3: and stride as long as these earnings stay firm like
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  Speaker 3: they have been. So uh, we'll see how that goes.
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  Speaker 3: Of course, last week was the big SpaceX I p
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  Speaker 3: O and that was that was a pretty wild day, really.
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  Speaker 2: I was.
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  Speaker 3: I was surprised how many phone calls I received over that.
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  Speaker 3: And you know, it's one of those things that I
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  Speaker 3: p o S are a lot different than they used
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  Speaker 3: to be.
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  Speaker 1: There.
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  Speaker 4: There's like a there's a there's a almost like a
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  Speaker 4: fabulousm behind them now, like a real like a story
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  Speaker 4: they have to tell. It's not just nerdy stuff anymore.
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  Speaker 3: Well, and I don't want to, you know, say, buy
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  Speaker 3: or sell an individual stock.
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  Speaker 2: That's not what I do, of course not.
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  Speaker 3: However, you know, I think it is worth noting that
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  Speaker 3: a company like Microsoft, when it came out and went public,
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  Speaker 3: it was a seven hundred million dollar not even a
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  Speaker 3: billion dollar valuation. You know, SpaceX came out over too trillion.
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  Speaker 3: The upside on that has to look different because if
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  Speaker 3: you think about the the the growth rate of Microsoft
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  Speaker 3: to the market cap that it is today, you know,
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  Speaker 3: you're talking about three thousand, four thousand times its initial value. Well,
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  Speaker 3: if you had that same type of result all off
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  Speaker 3: of a SpaceX I p O, you know you you
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  Speaker 3: would be talking about six quadrillion.
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  Speaker 4: The numbers are numbers are stupid, Like even the numbers
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  Speaker 4: were really dealing with her stupid, they're really crazy.
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  Speaker 3: Which really, I mean all the assets in the United
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  Speaker 3: States are five hundred trillion or so. I mean, you're
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  Speaker 3: the orders of magnitude that that would have to grow
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  Speaker 3: to to to be equivalent. Like you know, a lot
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  Speaker 3: of people say I went in because it's going to
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  Speaker 3: be the next right, you know, we'll name your company. Well,
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  Speaker 3: you know when was the time to buy that? Well
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  Speaker 3: when when it was a private company before it was
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  Speaker 3: worth two trillion dollars. And there again, I'm not saying
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  Speaker 3: it's not a place that you should or might put.
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  Speaker 2: Your money, but.
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  Speaker 3: You just have to be aware of the differences in
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  Speaker 3: the market right now, in the I p O market
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  Speaker 3: and the way companies are are funded, and uh, a
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  Speaker 3: lot of it now is private investment. And then it
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  Speaker 3: goes public, where before the market was the place to
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  Speaker 3: get the investment.
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  Speaker 2: Uh.
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  Speaker 3: So you just have to be aware of that when
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  Speaker 3: you when you put your money at work and when
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  Speaker 3: you when you go after these things. And I think
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  Speaker 3: it's also a good thing to consider that, you know,
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  Speaker 3: a two trillion dollar company is going to have pieces
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  Speaker 3: uh inside lots of different fund portfolios and ETFs.
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  Speaker 2: Yeah right, yeah, oh yeah, makes sense.
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  Speaker 3: So it's not as if if you don't go out
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  Speaker 3: and chase that individual stock you won't have some exposure
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  Speaker 3: to it. You probably will just by nature of its
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  Speaker 3: size and and the way you know, these these large
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  Speaker 3: funds have to operate. So so I think it's just
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  Speaker 3: important to keep those things in mind because that was
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  Speaker 3: a it was really a historic YPO.
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  Speaker 4: Ever like it, I have to admit, I mean, we've
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  Speaker 4: been doing this show for a long time and I
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  Speaker 4: know nothing about your your business other than you know,
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  Speaker 4: for a minute, I might understand a few a few
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  Speaker 4: things after we get done with the show and then
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  Speaker 4: I forget.
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  Speaker 2: But because of this.
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  Speaker 4: Show that we've done, we've done for some time, and
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  Speaker 4: I have some other things on my afternoon commitments where
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  Speaker 4: we do similar discussion to things like that, you know,
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  Speaker 4: these these stories are in my feed so just like
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  Speaker 4: I track red stuff and things that I had that
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  Speaker 4: that you know, financial things are in there. And it
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  Speaker 4: is amazing to me that to a person and it's
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  Speaker 4: not hasn't even been like politically loaded. This has been
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  Speaker 4: like just the people that comment on these types of
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  Speaker 4: things have been like, we're not real.
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  Speaker 2: Sure what this is.
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  Speaker 4: You know, it's like And one of the things that
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  Speaker 4: I saw and now that this this was this is
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  Speaker 4: dealing specifically with uh of course uh Elon Musk from
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  Speaker 4: SpaceX was became the world's first trillionaire. But when we
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  Speaker 4: start talking about money, numbers of that number, the number
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  Speaker 4: scale regardless of the individual or the company. So across
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  Speaker 4: this because somebody that was writing an article was like,
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  Speaker 4: people can in some ways, people can understand time better
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  Speaker 4: than they can money. So they put it this way,
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  Speaker 4: and I found the first entry to this. I found startling,
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  Speaker 4: how long is a million seconds? You know the answer
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  Speaker 4: to that? It's I don't. It's eleven and a half days. Okay,
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  Speaker 4: So a million seconds is eleven a half days. That's
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  Speaker 4: a lot less than I actually thought it was. I
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  Speaker 4: thought it would be more than that. So a million
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  Speaker 4: seconds is eleven and a half days, a billion seconds
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  Speaker 4: is thirty one point seven years. Okay, a million seconds
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  Speaker 4: is eleven days, a billion seconds is thirty one point
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  Speaker 4: seven years. A trillion seconds is thirty one thousand, six
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  Speaker 4: hundred and eighty nine years. So the difference between a
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  Speaker 4: billion dollars and a trillion dollars is like the difference
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  Speaker 4: between traveling and the pass back to nineteen ninety three
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  Speaker 4: and traveling and passed back to the Stone Age.
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  Speaker 2: Well, that's one way to put it.
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  Speaker 4: The scale is huge. Oh my goodness, it's huge. I mean,
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  Speaker 4: it's one hundred thousand or tend to the tend to
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  Speaker 4: the whatever it is. It's it's it's a huge amount
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  Speaker 4: of difference between.
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  Speaker 3: Well, I guess it's a thousand billions, one.
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  Speaker 2: Thousand billions exactly. That's crazy. That's that's quite a bit
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  Speaker 2: of a lot. That's a lot of money.
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  Speaker 3: Now, now keep in mind because I think there is
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  Speaker 3: also a misconception about cash. Yes, it's it's not liquid cash.
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  Speaker 3: It's tied up in ownership of companies, and that's the value,
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  Speaker 3: you know, the value there. That doesn't mean that Elon
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  Speaker 3: is short of cash. But but you know anybody on
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  Speaker 3: that list of of billionaires. Yes, it's it is not
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  Speaker 3: liquid and if, in a fact, if they tried to
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  Speaker 3: unload their stock, they would not have that much money
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  Speaker 3: because it would greater the value of the of the company.
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  Speaker 3: So in a way, it's it's it's an it's an asset.
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  Speaker 3: They yes, they can borrow against it they get, but
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  Speaker 3: you know, it's it's not like going to the bank
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  Speaker 3: and saying, give me my money.
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  Speaker 4: Like you're being held captive by trot trillion dollars. But
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  Speaker 4: still there's there's only so much you can do with it.
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  Speaker 4: Just I found that that scale to be pretty amazing.
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  Speaker 4: But yeah, it shows with a little hard work and
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  Speaker 4: ingenuity what anybody can do right.
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  Speaker 3: Well, you know the thing about Musk that is clearly
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  Speaker 3: he goes after segments that are large enough that if
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  Speaker 3: he makes an impact, it's very valuable. You know, obviously
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  Speaker 3: the auto industry is one of the largest industries in
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  Speaker 3: the world. You know, the banking and the the PayPal
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  Speaker 3: or whatever he was involved in initially. You know, that's
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  Speaker 3: the foundation of of how we do business.
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  Speaker 4: To they stay, there's only like three ways that you
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  Speaker 4: can check out from places. You know, you usually have Google, Apple,
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  Speaker 4: and you have PayPal. I mean, I mean that's as
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  Speaker 4: big as it gets.
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  Speaker 3: And then of course Space is u who knows it's
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  Speaker 3: big place, you know, so you know that that is
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  Speaker 3: one reason he is can attract that type of capital
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  Speaker 3: because he does go after big things and and if
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  Speaker 3: you can make an impact in a big area, there's
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  Speaker 3: a lot of potential. You know, you can think how
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  Speaker 3: if some clever person could come up and figure out,
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  Speaker 3: you know, something like the healthcare industry for instance, that's
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  Speaker 3: a big industry. That's something that that you know, if
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  Speaker 3: somebody figures that out and how to deliver that better,
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  Speaker 3: there's a lot of potential there. Energy the same thing.
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  Speaker 3: You know, there's a lot of potential there if you
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  Speaker 3: can disrupt those those type of industries. And he's he's
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  Speaker 3: not only is he pretty clever and how he thinks
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  Speaker 3: about things, but he he's clever in the right areas
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  Speaker 3: as far as opportunity goes.
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  Speaker 4: And he tells a good story. Yeah, I mean, honestly,
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  Speaker 4: that's part of it. Most of the speculation on the
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  Speaker 4: Space IPO when you talk to people actually in the industry,
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  Speaker 4: it's like this stuff this like Mars and what twenty thirty.
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  Speaker 4: That's not going to happen, like the physically cannot happen
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  Speaker 4: from the place where technology is today. However, you tell
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  Speaker 4: the story and it's all aspirational, right, I mean, it's
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  Speaker 4: what it's all about, chasing chasing aspiration, and people kind
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  Speaker 4: of buy into that a little bit. And I think
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  Speaker 4: that's where maybe some of the like what are we
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  Speaker 4: really investing into here comes from a little bit.
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  Speaker 2: So we'll see how that goes.
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  Speaker 3: Right, And in a way, you have to be investing
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  Speaker 3: in just possibilities that are unknown to a degree, I mean,
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  Speaker 3: especially at that type of valuation. I mean, you know,
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  Speaker 3: some something's gotta come over with something.
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  Speaker 4: It's interesting. It's interesting times, and there's and of course
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  Speaker 4: there's that's in the backdrop of a lot of different things.
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  Speaker 4: Like you said, the market kind of got healthier a
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  Speaker 4: little bit last week when we started looking into some
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  Speaker 4: of those things. And also we have the FED that's
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  Speaker 4: meeting tomorrow, I think, right, And again this is one
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  Speaker 4: of those things that in last decade or whatever, we
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  Speaker 4: talk about this a lot, the fedes meeting, the FED
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  Speaker 4: like has become part of the public zeitgeist that used
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  Speaker 4: to be something we never really cared about before. But
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  Speaker 4: because it's going to be in the headlines, what are
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  Speaker 4: people to expect from that meeting or what should they
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  Speaker 4: expect or nothing at all.
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  Speaker 3: Well, I don't think there's any expectation of a rate change.
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  Speaker 3: You know, we have over the course of the last
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  Speaker 3: six months or so, going through the hold, there are
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  Speaker 3: going to be four or five rate cuts to now,
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  Speaker 3: the expectation is little to none, and some people actually
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  Speaker 3: are saying that the next move might be a rate hike.
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  Speaker 3: I still doubt that, especially now that oil prices are
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  Speaker 3: heading down, or it appears that they're heading down at least,
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  Speaker 3: you know, when you look at it. I mean this morning,
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  Speaker 3: the oil prices are back down to about eighty dollars
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  Speaker 3: a barrel, which is, you know, it's elevated from before
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  Speaker 3: this started, but not nearly you know, not a nerve
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  Speaker 3: shattering difference really, So one would think fuel prices, gas prices,
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  Speaker 3: that the pump would would start to follow that here
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  Speaker 3: in the next month or so, which will take pressure.
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  Speaker 3: And if you look at the inflation rate, the inflation
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  Speaker 3: that we've seen come up has largely been energy driven.
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  Speaker 3: I mean, it is really not across the board it's
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  Speaker 3: very concentrated in energy. Now, if the energy prices persist,
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  Speaker 3: that can spill over into these other areas, but so
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  Speaker 3: far it has gone. And if oil prices come down,
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  Speaker 3: the hope is that will kind of nip it in
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  Speaker 3: the bud before it really takes hold.
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  Speaker 2: This is this is going to put to practice.
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  Speaker 4: I know that a lot of folks were saying that
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  Speaker 4: once the if the thing and Iran gets kind of solved,
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  Speaker 4: that the market is kind of waiting on the sideline
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  Speaker 4: to kind of to buy into that. Observationally, I've kind
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  Speaker 4: of been like, it's sort of like the market has
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  Speaker 4: been ignoring that for a long time anyway, So I'm
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  Speaker 4: not sure how much money is actual on the sideline
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  Speaker 4: because of that. But we'll see, we'll see how that works.
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  Speaker 4: At least we've come through this period. The market is adjusted,
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  Speaker 4: it's adapted to where we are, and you know, it
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  Speaker 4: looks like that we might actually get through this thing,
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  Speaker 4: and if energy prices start to come down, maybe we'll
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  Speaker 4: see some relief. You know, like we always caution people, generally,
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  Speaker 4: prices are never going to come down. You're never going
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  Speaker 4: to see unless we are in a deflationary area where
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  Speaker 4: you're not going to see that, But what is it
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  Speaker 4: like commodity type stuff, but things that are based off
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  Speaker 4: of like fuel and shipping and things like those prices
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  Speaker 4: can come down.
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  Speaker 3: Yes, yes, but you know, there again, we want to
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  Speaker 3: caution against the wish of deflating prices across the whole
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  Speaker 3: economy because that would be a disaster. It's probably the
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  Speaker 3: right word for that. But even though it seems like
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  Speaker 3: it would be a good thing, it would turn into
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  Speaker 3: something that no one would like to see.
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  Speaker 4: Something I thought we could talk about, just for a second,
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  Speaker 4: about how your dollars really do the talking. One thing
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  Speaker 4: I thought it was interesting, just for a West Virginia standpoint,
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  Speaker 4: There was a study that was recently done that was
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  Speaker 4: that was ranking all the states by what percentage of
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  Speaker 4: their income went out to fast food.
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  Speaker 2: So and this is something that a lot of.
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  Speaker 4: People can take on and you know, you powl on
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  Speaker 4: it and get turned it into a bit or whatever.
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  Speaker 4: But I wanted to look at this legitimately because West
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  Speaker 4: Virginia is number five. So the states I had of
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  Speaker 4: West Virginia, New Mexico, Louisiana, Arkansas, Mississippi, could you have
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  Speaker 4: guessed those states if I would have if I would
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  Speaker 4: have I mean there would they would have been easy
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  Speaker 4: to write. I mean maybe Alabama, but it was where
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  Speaker 4: they are just below West Virginia, So I mean you
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  Speaker 4: would have got this without much of a problem in that.
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  Speaker 4: But what that's an indicator of, or I don't know
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  Speaker 4: what that's an indicator of. Is that an indicator of
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  Speaker 4: of a of an area that that seeks out cheaper
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  Speaker 4: food options of an area that seeks out And what
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  Speaker 4: does it mean for your like your budgeting and planning
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  Speaker 4: and things along those lines, if you are really spending
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  Speaker 4: that much money on things like fast food.
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  Speaker 2: And we all know that fast food isn't really that
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  Speaker 2: cheap of an option.
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  Speaker 3: Not in the last several years, I mean, fast food
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  Speaker 3: prices have I mean it's almost in a lot of
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  Speaker 3: cases cheaper to go to an actual restaurant. Absolutely, yeah,
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  Speaker 3: absolutely drive through fast food. So, you know, I don't
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  Speaker 3: really know what that says because it's not you know, yes,
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  Speaker 3: the states on that list tend to be the less
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  Speaker 3: well to do states, but but I'm not sure that
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  Speaker 3: fast foods the budget that item that it used to be.
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  Speaker 4: Yeah, right, It just seems like one of those things
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  Speaker 4: that it seems to be one of those things that's
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  Speaker 4: a symptom of an indicator of something else that's that's
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  Speaker 4: going wrong, you know what I mean, Like there's there's
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  Speaker 4: something environmentally, regionally, there's something else in there that that
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  Speaker 4: forces this hand. Why is it that West Virginia spends
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  Speaker 4: so much of a percentage of their income compared to
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  Speaker 4: other states? You know, it doesn't make a lot of
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  Speaker 4: sense unless you talk about the overall price of fast
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  Speaker 4: food as compared to the rate of pay in the area,
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  Speaker 4: and maybe that that causes something to the discrepancy. But
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  Speaker 4: the bottom line is, if you have some of these
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  Speaker 4: expenses that you're putting out there, and you and you
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  Speaker 4: find things like fast food costs or things like that,
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  Speaker 4: that might be an opportunity that you can look at
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  Speaker 4: it and looking for places to cut And I know
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  Speaker 4: that that you know, we've probably all read the books about,
• 17:11
  Speaker 4: you know, how the meal plan and things along those
• 17:12
  Speaker 4: of those lines. You don't have to make it into
• 17:14
  Speaker 4: a religion or a science, but there are things that
• 17:16
  Speaker 4: you can do to maybe cut down on some of
• 17:18
  Speaker 4: that stuff. Because if you're looking at fifty bucks two
• 17:20
  Speaker 4: or three times a week to go to a fast
• 17:22
  Speaker 4: food place and there's probably something you can do there.
• 17:24
  Speaker 4: And that's one of the places to start your debt
• 17:26
  Speaker 4: snowball and different things like that, is you can find
• 17:28
  Speaker 4: some of these noisy places you can cut down on
• 17:31
  Speaker 4: and then start investing that into some money that can.
• 17:33
  Speaker 2: Do work for you. Yeah.
• 17:34
  Speaker 3: I mean a young person, twenty five year old person,
• 17:37
  Speaker 3: if they can save one hundred dollars a month by
• 17:39
  Speaker 3: cutting some of those expenses out, I mean that literally
• 17:42
  Speaker 3: could be a million dollars at retirement. Well, it's that hit.
• 17:47
  Speaker 3: It is that impactful if you if you get a
• 17:51
  Speaker 3: good growth rate over a long period of time. You know,
• 17:54
  Speaker 3: it's worked for Warren Buffett. You know, look at him.
• 17:57
  Speaker 3: You know his net worth has largely come in the
• 18:00
  Speaker 3: last decade. I mean he's been rich for a long time.
• 18:04
  Speaker 2: Oh man, that's a great point because of.
• 18:06
  Speaker 3: But because of the compounding and you know, he survived
• 18:10
  Speaker 3: a long time, so he's had more years for that
• 18:13
  Speaker 3: to compound that.
• 18:14
  Speaker 4: It's it's always great insights when we start talking about
• 18:17
  Speaker 4: these things and the way that interest works and compounding
• 18:20
  Speaker 4: and also the way the opposite of it works. You
• 18:22
  Speaker 4: get a late start and you lose out on a
• 18:23
  Speaker 4: lot of that you're using disposable income towards you know,
• 18:29
  Speaker 4: frivolous things that you could use to put to work
• 18:31
  Speaker 4: for you. There's always a balance of these things. You
• 18:33
  Speaker 4: have to live your life, but at the same time
• 18:35
  Speaker 4: you have to find a way to make some strives
• 18:37
  Speaker 4: towards the future. The first part of the show where
• 18:39
  Speaker 4: we kind of talk about things leading up to this point,
• 18:41
  Speaker 4: let's go ahead and take a break. When we come back,
• 18:43
  Speaker 4: we're going to focus in on any questions that you
• 18:44
  Speaker 4: might have, anything that we can help you to retire right.
• 18:47
  Speaker 4: John is more than welcome to help you out there
• 18:49
  Speaker 4: as an expert on helping you retire right from Fourth
• 18:52
  Speaker 4: Avenue Financially. You and give us a call this morning
• 18:54
  Speaker 4: and John Bredeck can help you out. Three zero four
• 18:55
  Speaker 4: three four five fifty eight fifty eight is our number.
• 18:57
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• 18:59
  Speaker 4: You can also text three zero four non three five
• 19:01
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• 19:03
  Speaker 4: five zero zero eight. More information online is Fourth Avenue
• 19:06
  Speaker 4: Financial dot com. Fourth Avenue Financial dot Com will give
• 19:08
  Speaker 4: you the rest of the information when we come back.
• 19:10
  Speaker 4: You're listening to retire RTE Radio. I'm Del Cooper and
• 19:12
  Speaker 4: this is five ADWCHS the voice of Charleston. John Burdette
• 19:15
  Speaker 4: will be back right after.
• 19:16
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  Speaker 7: The expedition to the Pacific didn't start in Saint Louis.
• 20:42
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• 20:51
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  Speaker 1: This is retire Right Radio with John Burdett from Fourth
• 21:14
  Speaker 1: Avenue Financial taking your calls at three oh four three
• 21:17
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• 21:31
  Speaker 7: Comment se me in the morning and then leaving me
• 21:36
  Speaker 7: at nine and then.
• 21:39
  Speaker 2: Fifteen minutes until the top of the hour.
• 21:41
  Speaker 4: Now you're listening to fave DWHS, the voice of charleson
• 21:43
  Speaker 4: AM Deel Cooper. Thanks for tuning in on this Monday morning.
• 21:46
  Speaker 4: John Burdad is here with us from Fourth Avenue Financial
• 21:49
  Speaker 4: and we are talking about how you can retire right.
• 21:52
  Speaker 4: John is our expert here on retire Right Radio every
• 21:55
  Speaker 4: Monday from Fourth Avenue Financial online, Fourth Avenue Financial dot com.
• 21:58
  Speaker 2: Fourth Avenue Financial. We're taking your phone calls right now
• 22:01
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• 22:05
  Speaker 4: text questions three zero four non three five five zero
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• 22:11
  Speaker 4: zero eight. We did have one. This was left over
• 22:14
  Speaker 4: from last time. I think I had it flagged in
• 22:17
  Speaker 4: here from the three zero four four seven four. I'm
• 22:19
  Speaker 4: sixty one and have been saving money, but don't know
• 22:24
  Speaker 4: what I'm going to do with it when I stop working.
• 22:26
  Speaker 2: I just sort of figured it would sort itself out.
• 22:28
  Speaker 2: Is that common?
• 22:30
  Speaker 4: And John, you do We've done this show a lot,
• 22:33
  Speaker 4: and you do get that question a little bit, don't you?
• 22:36
  Speaker 2: Yeah?
• 22:36
  Speaker 3: I mean absolutely. You know you're told for years, save
• 22:40
  Speaker 3: for retirements, save for retirement, but then nobody really tells
• 22:43
  Speaker 3: you what to do after you retire.
• 22:47
  Speaker 2: And you know, which isn't really your job either.
• 22:49
  Speaker 4: I mean, you just get them to the point, but
• 22:51
  Speaker 4: you can help them get to that point and then maybe, well,
• 22:54
  Speaker 4: how your things out?
• 22:55
  Speaker 3: You know, how do you take this pool of money
• 22:57
  Speaker 3: and turn it into income that you're going to need?
• 22:59
  Speaker 3: How were you going to ensure that it lasts throughout
• 23:03
  Speaker 3: your retirement? What is the prudent number that you should
• 23:08
  Speaker 3: draw off of your money to to make sure that
• 23:11
  Speaker 3: that it lasts? I mean, all of those are questions
• 23:14
  Speaker 3: that that I can help people answer.
• 23:17
  Speaker 1: Uh.
• 23:18
  Speaker 3: You know, when I get the information and and and
• 23:20
  Speaker 3: get the all the numbers laid out, we come up
• 23:25
  Speaker 3: with a plan that is resilient, that that takes that
• 23:27
  Speaker 3: lump sum of money that you've saved and and puts
• 23:31
  Speaker 3: it to work for you in a way that that
• 23:34
  Speaker 3: essentially replaces your labor with with you know, your money,
• 23:38
  Speaker 3: earning you the money that you need to live from
• 23:42
  Speaker 3: month to month. You know, a lot of times folks
• 23:45
  Speaker 3: are it's just a mystery because they've never done it before.
• 23:50
  Speaker 3: You know, how do you how do you even get money?
• 23:53
  Speaker 3: You know, well, we can set it up where we
• 23:55
  Speaker 3: can electronically transfer money into your checking account on a
• 23:58
  Speaker 3: certain day of the month of your choosing, so every
• 24:02
  Speaker 3: month it comes in just like a paycheck would. We
• 24:04
  Speaker 3: can withhold taxes for people so that they don't have
• 24:10
  Speaker 3: there's no mystery in the tax withholding, just like when
• 24:15
  Speaker 3: you're working in your job and then at the end
• 24:16
  Speaker 3: of the year you get a statement at ten ninety
• 24:18
  Speaker 3: nine that you use to file your taxes. But all
• 24:22
  Speaker 3: of those things are new to someone that is looking
• 24:26
  Speaker 3: to retire. You know, that's never discussed when you set
• 24:31
  Speaker 3: up your four oh and k when you start saving,
• 24:34
  Speaker 3: and it is a big mystery, and there are a
• 24:36
  Speaker 3: lot of questions around that. And that's you know, that's
• 24:40
  Speaker 3: why people come into the office and we sit down
• 24:42
  Speaker 3: and figure those things out, and.
• 24:46
  Speaker 2: You know, it's.
• 24:46
  Speaker 3: Certainly second nature to me how that works. But if
• 24:51
  Speaker 3: you've never had that experience before, you know, it is
• 24:57
  Speaker 3: a big question mark and it creates anxiety because what
• 25:01
  Speaker 3: you've done for the last thirty or forty years is
• 25:04
  Speaker 3: now going to change.
• 25:07
  Speaker 4: And that can I mean, I've noticed this is out
• 25:10
  Speaker 4: getting older. I mean, that can really throw somebody kind
• 25:12
  Speaker 4: of for a loop. I mean when processes that you're
• 25:14
  Speaker 4: used to, you get yourself somewhat familiar with the process
• 25:16
  Speaker 4: that you're not an expert at anyway, and then things
• 25:18
  Speaker 4: just change, you know, over the course of time, things
• 25:21
  Speaker 4: just change, which also I might add as a great
• 25:23
  Speaker 4: reason to use a professional to contract the services to
• 25:27
  Speaker 4: someone like John Purdett, because that is your job. So
• 25:29
  Speaker 4: it's not my job to stay up on top of
• 25:30
  Speaker 4: those things. And I shouldn't have to necessarily stay up
• 25:33
  Speaker 4: on top of those things. I should be able to
• 25:34
  Speaker 4: contact someone like you then we can have a discussion
• 25:37
  Speaker 4: with and you can fill me in on the things
• 25:38
  Speaker 4: that I need to know. And honestly, that's a better
• 25:41
  Speaker 4: way to get by rather than trying to make yourself
• 25:44
  Speaker 4: an expert on something you're not an expert on.
• 25:46
  Speaker 2: Right.
• 25:47
  Speaker 3: Essentially, you know, we can answer those initial questions and
• 25:50
  Speaker 3: get and get you set up, but also over the years,
• 25:55
  Speaker 3: we're there for you when life changes happen that might
• 25:59
  Speaker 3: affect your finances. Were there to meet regularly so that
• 26:05
  Speaker 3: you stay comfortable with what you're doing and you don't
• 26:08
  Speaker 3: have to yourself spend time daily doing that. You can
• 26:11
  Speaker 3: go enjoy your retirement and we check in every so
• 26:13
  Speaker 3: often and we do all that work in the background
• 26:18
  Speaker 3: for you. So there are a lot of benefits to that.
• 26:22
  Speaker 3: But but the biggest thing is and you know, years ago,
• 26:27
  Speaker 3: everybody had a pension and that was pretty clear. You
• 26:31
  Speaker 3: didn't have to do anything. And when you retired, you've
• 26:34
  Speaker 3: got a pension and that's what you retired with. And
• 26:38
  Speaker 3: now you've got to create your own pension essentially. So
• 26:43
  Speaker 3: you know, there's been a lot of change in the
• 26:47
  Speaker 3: in the marketplace as far as how you retire over
• 26:51
  Speaker 3: the last thirty years, but there hasn't been a whole
• 26:54
  Speaker 3: lot of education on what that process looks like.
• 26:58
  Speaker 2: And and it really there.
• 27:00
  Speaker 4: There's all these movements that you see sometimes that people
• 27:03
  Speaker 4: or it's not sometimes I mean politically motivated. You see
• 27:05
  Speaker 4: people all the time that we'll talk about the systems
• 27:08
  Speaker 4: unfair or different ways that it should change, or things
• 27:11
  Speaker 4: you need to do, whatever the reality of that is.
• 27:13
  Speaker 4: And I don't really care one way or the other.
• 27:15
  Speaker 4: That's the only thing we have right now. So I mean,
• 27:17
  Speaker 4: whatever your aspiration is for fifty years in the future,
• 27:19
  Speaker 4: that's great, But there's only one thing that you can
• 27:21
  Speaker 4: do right now. There's not really much of a choice
• 27:23
  Speaker 4: in it. So you have to participate. You really don't
• 27:25
  Speaker 4: have much of a choice, no, or.
• 27:27
  Speaker 3: You will get left behind. As we've talked before, with
• 27:31
  Speaker 3: all this automation and OWAI and all of these things,
• 27:36
  Speaker 3: the value of certain types of labor is going to
• 27:39
  Speaker 3: be less and less over time. You know, not all labor,
• 27:43
  Speaker 3: but certain types of labor are.
• 27:45
  Speaker 2: Going to be.
• 27:48
  Speaker 3: Maybe squeezed. Well how do you participate? Well, yeah, you
• 27:52
  Speaker 3: have to participate by owning the companies that are producing
• 27:57
  Speaker 3: those things that are that are still producing the services.
• 28:01
  Speaker 3: It just now takes less labor.
• 28:03
  Speaker 4: It's really amazing when you think about, and this will
• 28:06
  Speaker 4: live in the knots and crannies. I just ran into
• 28:08
  Speaker 4: this last week and I thought it would be great
• 28:10
  Speaker 4: to bring up here. There used to be a whole
• 28:12
  Speaker 4: industry of transcribers, people that you would send audio off
• 28:16
  Speaker 4: to and that would transcribe audio. There's been some narrow
• 28:19
  Speaker 4: AI around for a while that would assist a little
• 28:22
  Speaker 4: bit with transcribing, but the accuracy was very, very bad.
• 28:24
  Speaker 4: Anybody that's used diction machines and stuff like that knows
• 28:26
  Speaker 4: what I'm talking about with that. It's the accuracy is
• 28:28
  Speaker 4: not very good. Accuracy is fantastic now, like with most
• 28:32
  Speaker 4: of this voice recognition stuff that's those services just cease
• 28:35
  Speaker 4: to exist.
• 28:36
  Speaker 2: There's no human element left to those services anymore.
• 28:38
  Speaker 3: I saw something last week the Philippines. One of their
• 28:42
  Speaker 3: largest industries as call centers. Most people in the Philippines
• 28:47
  Speaker 3: speak English, and they've been a huge it's a huge
• 28:52
  Speaker 3: call center industry that is now going to be threatened
• 28:58
  Speaker 3: by what's going on. And I don't know if it's
• 29:01
  Speaker 3: their main industry, but it is in the billions and
• 29:04
  Speaker 3: billions of dollars that industry and employees lots of people,
• 29:10
  Speaker 3: and you know, there's a very good chance that AI
• 29:15
  Speaker 3: will disrupt that.
• 29:17
  Speaker 4: And one of the things that could potentially be interesting
• 29:19
  Speaker 4: about that. I don't think that generally speaking, if you
• 29:22
  Speaker 4: took a poll of specifically American consumers over the last
• 29:26
  Speaker 4: couple decades that they would be all that happy with
• 29:29
  Speaker 4: the way customer service has been deep platformed from being
• 29:32
  Speaker 4: here in the country and it has really been farmed
• 29:34
  Speaker 4: out to other countries. And I mean it's all cost
• 29:36
  Speaker 4: saving measures and things along those lines. And people can
• 29:38
  Speaker 4: bemoan the loss of jobs. But what if AI is
• 29:41
  Speaker 4: actually better at that right because nobody's happy with the
• 29:44
  Speaker 4: way it is now? What if this is actually something
• 29:46
  Speaker 4: where the human element of the job is lost, But
• 29:49
  Speaker 4: because that was such a small investment in the human element,
• 29:53
  Speaker 4: that maybe the AI actually does better.
• 29:55
  Speaker 2: I mean, I don't know, it's possible.
• 29:57
  Speaker 3: Well, it's definitely possible. And with most technological changes, the
• 30:05
  Speaker 3: labor that of the individual that is that is lost
• 30:10
  Speaker 3: in those industries gets put to work somewhere else that
• 30:17
  Speaker 3: economically has to be higher up the food chain, which
• 30:23
  Speaker 3: should be good overall because now we're producing more goods
• 30:27
  Speaker 3: and services. I mean, when you think about money, you know,
• 30:30
  Speaker 3: that's not what's important. It's how much goods and services
• 30:33
  Speaker 3: are produced. Why do we live the life we live
• 30:35
  Speaker 3: today because there's an abundance of goods and services that
• 30:39
  Speaker 3: didn't even exist before. Now, you know, money is just
• 30:43
  Speaker 3: how we trade those things. But the fact is we're
• 30:46
  Speaker 3: producing more stuff and and that everybody participates in that.
• 30:54
  Speaker 3: You know, if you're if you're out there actively participating
• 30:56
  Speaker 3: in the economy, even if you're on the lower end
• 30:59
  Speaker 3: of the rung, you know, you are are really better
• 31:03
  Speaker 3: off than you would have been forty or fifty years
• 31:05
  Speaker 3: ago because there's more stuff that you have access to
• 31:07
  Speaker 3: that that you can utilize. I mean, you've got the
• 31:11
  Speaker 3: Library of Congress in your pocket, right, you know, it's
• 31:15
  Speaker 3: it's it's amazing the access to goods and services, to entertainment,
• 31:20
  Speaker 3: to all of those things. And you know, somebody I
• 31:24
  Speaker 3: might have a a half inch larger phone, but somebody
• 31:30
  Speaker 3: with less money has access to the same information largely
• 31:34
  Speaker 3: in this country. I mean, it's an incredible, an incredible thing,
• 31:40
  Speaker 3: and it provides opportunity if it's harnessed.
• 31:44
  Speaker 4: Yeah, that's correct, and of course that's the key with everything,
• 31:47
  Speaker 4: but it's really, uh, it's it's something else. As we
• 31:51
  Speaker 4: see the turnover in these different industries and the different
• 31:53
  Speaker 4: things that are changing that that although and and and
• 31:56
  Speaker 4: it's road at this point, but the more things change,
• 31:58
  Speaker 4: the more they stay the same. I Mean, we see
• 32:00
  Speaker 4: how this continues to work.
• 32:02
  Speaker 3: But you know, people talk about this divide, and I'm
• 32:04
  Speaker 3: talking about trillionaires, this divide. You know, in a way
• 32:11
  Speaker 3: that the money number is greater than it's ever been
• 32:15
  Speaker 3: between haves and ab notts, rich and poor. But the
• 32:20
  Speaker 3: reality is most people, not all people, but most people,
• 32:25
  Speaker 3: you know, can do ninety percent of what Elon Musk does.
• 32:30
  Speaker 3: You know, he eats and you eat, and he has
• 32:33
  Speaker 3: access to the internet, and you have access to the
• 32:36
  Speaker 3: same information on the internet. You know, you go on
• 32:40
  Speaker 3: vacation maybe and he goes on vacation. Maybe he's got
• 32:43
  Speaker 3: a nicer room than you.
• 32:44
  Speaker 2: Do, maybe it's on the moon.
• 32:48
  Speaker 3: But you know, as the money is different, if you
• 32:54
  Speaker 3: think back one hundred years ago, it was it was
• 32:58
  Speaker 3: a lot more different far as the way you could
• 33:01
  Speaker 3: live your life. You know. So in a way, I
• 33:07
  Speaker 3: mean it's clear. I mean, it's clear that this process
• 33:11
  Speaker 3: that has all the destruction of you know, jobs along way,
• 33:19
  Speaker 3: has created a better standard of living for everybody.
• 33:23
  Speaker 2: The person that destitute today.
• 33:25
  Speaker 4: As much as as we feel for the person who's
• 33:27
  Speaker 4: destitute today, that person still has im measurely more power
• 33:30
  Speaker 4: than the person that was destitute in like nineteen hundred
• 33:32
  Speaker 4: and more access to information and stuff. I mean that
• 33:34
  Speaker 4: may not mean that they can necessarily right now make
• 33:37
  Speaker 4: their life better, but at least the information, access to
• 33:40
  Speaker 4: that information and things like that are way more available
• 33:43
  Speaker 4: now to that person than what it might have been
• 33:45
  Speaker 4: one hundred and twenty years ago.
• 33:46
  Speaker 3: Yeah, I mean, it's it's the process, clearly over time
• 33:49
  Speaker 3: has has worked. And the reality is, no matter where
• 33:55
  Speaker 3: we are as a society, there will always be some
• 33:59
  Speaker 3: that have a little bit more and some that have less.
• 34:02
  Speaker 3: That's just the nature. That's the nature of it. Now,
• 34:05
  Speaker 3: hopefully that you know, as those goods and services multiply,
• 34:11
  Speaker 3: you know, yes, the there'll still be the span there,
• 34:15
  Speaker 3: but hopefully at the bottom you're also experiencing some fruits
• 34:22
  Speaker 3: of that. And I think that that clearly has happened.
• 34:26
  Speaker 3: I'd rather be on the on the in the in
• 34:29
  Speaker 3: the bottom ten percent today, like you say, than nineteen hundred.
• 34:33
  Speaker 4: Yeah, it's a it's a it's a huge difference as
• 34:35
  Speaker 4: far as that goes, and you need somebody to help
• 34:37
  Speaker 4: walk you through everything.
• 34:38
  Speaker 2: To h to uh, to.
• 34:40
  Speaker 4: Clue you in on the aspirational nature of how you
• 34:44
  Speaker 4: can live your life as well as far as planning
• 34:45
  Speaker 4: for your retirement. Job er debt at Fourth Avenue Financial
• 34:47
  Speaker 4: can help you out there. He can demystify the entire
• 34:50
  Speaker 4: situation when it comes to retiring and planning for your retirement,
• 34:54
  Speaker 4: as you hear every Monday morning right here on five
• 34:55
  Speaker 4: ad W c HS. You can find the information online
• 34:58
  Speaker 4: Fourth Avenue Financial. It's Fourth Avenue financi dot com. You
• 35:00
  Speaker 4: spell out the whole thing Fourth Avenue Financial dot com
• 35:03
  Speaker 4: and you can also give them a call their fune
• 35:04
  Speaker 4: number three zero four seven four six seven nine seven
• 35:06
  Speaker 4: seven three zero four seven four six seven on seven seven.
• 35:09
  Speaker 4: Before I get you out of here, John, I wanted
• 35:11
  Speaker 4: to of course Fourth Avenue Financial as part of the RAMS,
• 35:13
  Speaker 4: the Ramsey Network of Financial Planners and approof Planners. And
• 35:19
  Speaker 4: one of the things I heard on the Dave Ramsey
• 35:20
  Speaker 4: Show last week that I thought was interesting. Somebody called
• 35:23
  Speaker 4: in and they were talked about how they had been
• 35:25
  Speaker 4: poorly saving for retirement and suddenly received I think it
• 35:29
  Speaker 4: was like twenty five thousand dollars in like an inheritance,
• 35:32
  Speaker 4: and so their question was, I'm going more or less
• 35:35
  Speaker 4: from zero to now I have twenty five thousand dollars
• 35:37
  Speaker 4: of money that I can invest into the market.
• 35:42
  Speaker 2: What do I do? Is it a one shot? How
• 35:44
  Speaker 2: do I take care of that?
• 35:45
  Speaker 4: My answer would be, first of all called John berdet
• 35:46
  Speaker 4: Fourth Avenue Financial. But from it from a galaxy brain perspective,
• 35:51
  Speaker 4: that person is suddenly literally gifted with something. They're not
• 35:54
  Speaker 4: necessarily living paycheck to paycheck. They have the ability to
• 35:57
  Speaker 4: maybe invest some of this stuff. What do you do
• 35:59
  Speaker 4: with that?
• 36:00
  Speaker 3: Yeah, well, the first thing we do is sit down
• 36:02
  Speaker 3: and figure out where you are. Do you have credit
• 36:04
  Speaker 3: card debt? Do you have things that need to be
• 36:07
  Speaker 3: taken care of first? And if so, then you don't
• 36:10
  Speaker 3: invest it. You take care of the things that need
• 36:12
  Speaker 3: to be done first, build the solid foundation and then
• 36:16
  Speaker 3: work from there. But certainly an opportunity to like that
• 36:19
  Speaker 3: can can go a long way to getting you on
• 36:22
  Speaker 3: the right path. And I know, you know that does happen.
• 36:26
  Speaker 3: That certainly happens. And you know if you don't have
• 36:30
  Speaker 3: a plan for it, the money will go elsewhere.
• 36:34
  Speaker 4: Yeah, yeah, I'll find out other ways to go money.
• 36:36
  Speaker 4: Money will escape very very quickly in those ways if
• 36:38
  Speaker 4: you're not careful. John Bredet with Fourth Avenue Whenever, Fourth
• 36:42
  Speaker 4: Avenue Financial, every Monday morning, right here, at eight twenty
• 36:44
  Speaker 4: on five ADWHS. You can see the podcast online at
• 36:47
  Speaker 4: WCHS network dot com slash podcasts, but you can see
• 36:51
  Speaker 4: John back here. You can hear John back here next
• 36:52
  Speaker 4: Monday morning at eight twenty right here on five eighty
• 36:55
  Speaker 4: w CHS. John, thank you so much for your time
• 36:56
  Speaker 4: again this week. Really appreciate it. All right, take care,
• 36:58
  Speaker 4: We'll see you.
• 36:58
  Speaker 2: Back here next week.
• 36:59
  Speaker 4: That's John BREDBT for Fourth Avenue Financial Online, Fourth Avenue
• 37:01
  Speaker 4: Financial dot com. You spell out the whole thing, Fourth
• 37:03
  Speaker 4: Avenue Financial dot Com. Do that same search on Facebook
• 37:06
  Speaker 4: and you can find the information over there as well.
• 37:08
  Speaker 4: And then the phone number is three zero four seven
• 37:11
  Speaker 4: four six seven non seven seven three zero four seven
• 37:13
  Speaker 4: four six seven non seven seven three zero four seven
• 37:16
  Speaker 4: four six seven none seven seven. Dave Allen is up
• 37:19
  Speaker 4: next on five D Live. I'll be back this afternoon
• 37:21
  Speaker 4: at three ZH six on Hotline with Dave Weekly. I
• 37:23
  Speaker 4: have a great to everyone on five AD w CHS FIN.
• 37:26
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• 37:28
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• 37:31
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