Latest / WCHS Network Podcasts / 09/06/2024 Retire Right Radio with John Burdette

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09/06/2024 Retire Right Radio with John Burdette · WCHS Network Podcasts

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  Speaker 2: The views and opinions expressed on this program do not
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  Speaker 2: necessarily reflect the views and opinions of five AD WCCHS
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  Speaker 2: it's employees or WVRC Media.
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  Speaker 3: And a very pleasant good morning to you. You're listening
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  Speaker 3: to ask the expert WCHS the Voice of Charleston. However,
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  Speaker 3: this is a Friday edition of Retire Right Radio. John
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  Speaker 3: Bredett is here from Fourth Avenue Financial Word to talk
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  Speaker 3: a little bit this morning about how you can retire right. John.
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  Speaker 3: Good morning, How you doing this morning.
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  Speaker 4: I'm doing great. Feels wonderful out there.
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  Speaker 3: Oh man, It's like we took Monday off because it
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  Speaker 3: was a holiday, and now it's Friday and suddenly it
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  Speaker 3: is autumn. It feels a little bit like autumn anyway,
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  Speaker 3: a lot more than the temperatures and all those storms
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  Speaker 3: and stuff last week. Holy cow.
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  Speaker 4: Yeah, yeah, Well, of course we were down in Florida
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  Speaker 4: and it was just as hot there.
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  Speaker 3: Yeah right, oh my goodness. You can give us a
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  Speaker 3: call this morning. Hey, it's a Friday Expert show. So
• 1:08
  Speaker 3: if you're at work, hanging out at home when your
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  Speaker 3: way in and you want to use your hands free
• 1:13
  Speaker 3: device to give us a call, or you can send
• 1:15
  Speaker 3: a voice to text or text yourself. You can do
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  Speaker 3: whatever you want to do and call us this morning
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  Speaker 3: three zero four three four five fifty eight fifty eight
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  Speaker 3: three four five fifty eight fifty eight. If you want
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  Speaker 3: to have Jomber to help you out on how you
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  Speaker 3: can retire right, if you have any questions about how
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  Speaker 3: you can invest in your future, John can help you
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  Speaker 3: out with that, give us a call at three zero
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  Speaker 3: four three four five fifty eight fifty eight. You can
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  Speaker 3: also text over your questions. The three zero four non
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  Speaker 3: three five five zeros youerre eight threes are four none
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  Speaker 3: three five five zeros you eight more informational online fourth
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  Speaker 3: Avenue Financial dot com you spell out the whole thing
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  Speaker 3: fourth Avenue Financial dot Com also on Facebook with the
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  Speaker 3: same search. So, how thing has been going? Everything going
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  Speaker 3: all right?
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  Speaker 4: Yeah, everything seems to be fine. I mean, of course,
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  Speaker 4: the market has had a little more volatility of late,
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  Speaker 4: which is kind of to be expected. We've had a
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  Speaker 4: good run and we're in the middle of that change
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  Speaker 4: where the interest rate scheme is changing on and the
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  Speaker 4: leadership has definitely changed in the marketplace. We've been talking
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  Speaker 4: about that. You know, earlier in the year, if you recall,
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  Speaker 4: we were talking about how the Dow was only up
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  Speaker 4: two or three percent and the nasdek was up eighteen
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  Speaker 4: or twenty percent. Well, now year today, the Dow is
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  Speaker 4: up a little over ten percent and the n aspek's
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  Speaker 4: still up eighteen percent. So there's definitely been some catch
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  Speaker 4: up in the broader market. And doesn't mean the tech
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  Speaker 4: stocks are doing poorly as far as their earnings and
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  Speaker 4: things of that nature go. It just means that they
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  Speaker 4: ran ahead of themselves a little bit, and now it's
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  Speaker 4: very difficult to meet those expectations.
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  Speaker 3: Well, you know, Sin's we're the mid little football season this,
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  Speaker 3: you know, the technistocks. For a long time, we're like
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  Speaker 3: a quarterback on a hot streak that was carrying the team.
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  Speaker 3: And now the rest of the team has come up
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  Speaker 3: to par, starting to play pretty well, and the team's
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  Speaker 3: cohesive at the moment, it doesn't mean that there's not
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  Speaker 3: going to be you know, drives deep into the territory
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  Speaker 3: by the opponents or whatever. But at least hopefully we're
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  Speaker 3: playing well as far as that goes. Is some of
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  Speaker 3: the volatility you have to do with, like the anticipation,
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  Speaker 3: like not real sure where we're going to settle in
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  Speaker 3: at as far as interest rates or what it's going
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  Speaker 3: to be. I saw a lot of people kind of
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  Speaker 3: wringing their hands over well, if the jobs report doesn't
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  Speaker 3: come in exactly like we expect, and maybe it won't be,
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  Speaker 3: I'm not sure exactly what the nuance is there.
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  Speaker 4: Well, I think for a long time we've been in
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  Speaker 4: this scenario where good news is bad news and bad
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  Speaker 4: news is good news.
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  Speaker 3: Are almost to the point where we're in the right
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  Speaker 3: side up again.
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  Speaker 4: We're at the point where I believe that good news
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  Speaker 4: is actually going to be good news and bad news
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  Speaker 4: is bad news.
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  Speaker 3: So we want to see jobs added now. We want
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  Speaker 3: to see that happen.
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  Speaker 4: For the most Yes, I mean we don't want to
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  Speaker 4: see it running away, you know, super hot, But but
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  Speaker 4: you don't want to see too much disappointment at this point,
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  Speaker 4: because you know what, what the hope is is that
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  Speaker 4: we get this soft landing where we don't actually go
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  Speaker 4: into a recession, where we don't actually see major job
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  Speaker 4: losses in the in that transition. That remains to be
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  Speaker 4: seen if that will happen or not, but that that
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  Speaker 4: is where we are. Where Earlier in the year, you know,
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  Speaker 4: good news was perceived as bad because it was, well,
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  Speaker 4: what's that going to do to inflation? Economy is too
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  Speaker 4: hot or the economy is too hot, they'll never cut
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  Speaker 4: the interest rates and all of these things. And now
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  Speaker 4: it's uh kind of turned back to uh. I remember
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  Speaker 4: the old Seinfeld, the bizarro world. We're not in the
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  Speaker 4: bizarro world.
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  Speaker 3: Yeah, right, and then we're red Kryptoni because I'll tell
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  Speaker 3: you what I was a little sick of, like, yeah,
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  Speaker 3: jobless cleans, you know, that's that's not that's not the way.
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  Speaker 4: Plus their jobs. That's great for the Yeah, yeah, we're
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  Speaker 4: we're I think finally back to a relative normal with
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  Speaker 4: the expectations of the reports that are coming out.
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  Speaker 3: I mean, it's taken long enough, but thankfully maybe we're
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  Speaker 3: finally starting to peek around that corner a little bit.
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  Speaker 3: And who knows what the future holds, except that the
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  Speaker 3: market will go up.
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  Speaker 4: That's almost a long term but I'm not gonna promise
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  Speaker 4: that next week.
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  Speaker 3: Yeah yeah, I mean maybe not next week, but but
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  Speaker 3: in twenty years you'll probably be all right. The other
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  Speaker 3: as far as that those things cut h and again,
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  Speaker 3: I mean we are in You mentioned the market volatility,
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  Speaker 3: but also that means that the headlines are all leading
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  Speaker 3: with stuff about the FED, about interest rates, about the earnings.
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  Speaker 3: You talked about Nvidio right before we went on on online,
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  Speaker 3: and maybe we can talk about this just a little
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  Speaker 3: bit because it's an interesting product that we have, and
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  Speaker 3: we've seen this happen before. I think maybe Disney did
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  Speaker 3: this a little bit, and some other stocks that were
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  Speaker 3: out there that perform well, they're doing well, they meet expectations,
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  Speaker 3: everything seems all right, but suddenly a good earnings report
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  Speaker 3: isn't good enough. Yeah.
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  Speaker 4: Well, there's a lot of momentium that happens in stocks
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  Speaker 4: from traders, not so much investors, but but but the traders,
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  Speaker 4: the people that are in there for the short term,
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  Speaker 4: and when a stock takes off, it it can sometimes
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  Speaker 4: run beyond you know, what's what is reasonable, And there's
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  Speaker 4: nothing wrong with that. That's just how the market works. Uh,
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  Speaker 4: but you know, the video was was beating expectations, big, big,
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  Speaker 4: big lea as as we went along, and it's just
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  Speaker 4: seem like they could not fail. And in the last
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  Speaker 4: several quarters, if you look, they're still beating expectations, but
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  Speaker 4: it's of much narrower margins. You know, earnings are still growing,
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  Speaker 4: but at a much slower pace, and so it's almost
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  Speaker 4: like a letdown. And then you start looking at that stock, well,
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  Speaker 4: it's art losing momentum because people now are thinking, well,
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  Speaker 4: wait a second, if it's if it's slowing down, what
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  Speaker 4: comes next?
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  Speaker 3: You know, like if you were prospecting before and now
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  Speaker 3: your prospects maybe aren't quite as rich as they seemed.
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  Speaker 4: And it doesn't mean that, like I say, the earnings
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  Speaker 4: are growing, you know, in the video, I think since
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  Speaker 4: we've been on the air, has lost about a half
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  Speaker 4: a trillion dollars in value on its market cap, which
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  Speaker 4: is extraordinary, you know, but it's still up one hundred
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  Speaker 4: and twenty five percent over the last year, you know.
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  Speaker 4: But the richness that people are willing to pay for it,
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  Speaker 4: you know, at some point that that's got to be normalized.
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  Speaker 4: Otherwise you're better off by a more value are in.
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  Speaker 4: It's stick, and that's what it's tick. And that's what
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  Speaker 4: we've seen as the market is broadened. You know, some
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  Speaker 4: of these big tech names. It's not that they've crashed
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  Speaker 4: or anything like that. It's not that their earnings have
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  Speaker 4: come down. They're still growing. It's just that the valuations
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  Speaker 4: for the growth rate that's projected going forward, you know,
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  Speaker 4: people are starting to evaluate that and say, well, maybe
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  Speaker 4: i'd be better off in this. You know this quote
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  Speaker 4: boring right.
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  Speaker 3: Well, it seems inevitable that this would happen at some degree.
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  Speaker 3: So it's fear of the end verse of somebody losing weight.
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  Speaker 3: You lose all the weight at first, and then it's
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  Speaker 3: a little a little harder when you get towards the
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  Speaker 3: end of it and you're still losing weight, but it's
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  Speaker 3: not as stark as what it once was. And I
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  Speaker 3: have a feeling for a company like in the video,
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  Speaker 3: and you're getting started with the AI stuff and everything else.
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  Speaker 3: At first, there's these giant chunks of real estate that
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  Speaker 3: you can eat up to for revenue and to make money.
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  Speaker 3: But eventually, you know, other people get into the field
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  Speaker 3: and things start happening and there's not as much room there.
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  Speaker 3: I mean, it's just a natural progression. It seems like, yeah,
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  Speaker 3: that's the way the market works. Competition people. Then people
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  Speaker 3: identify that, they're like, okay, well we got this as
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  Speaker 3: a trader, as a as a prospect investment. Now we
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  Speaker 3: look at the next one. I mean it's okay, it's fine.
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  Speaker 3: I mean, companies doing fine, and the people maybe the
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  Speaker 3: trader is somebody that got in at the wrong time.
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  Speaker 3: Maybe they're not as happy as some of the people
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  Speaker 3: that got in earlier. But that's that's life, I guess.
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  Speaker 4: Yeah. I mean I still maintain Like most technologies, you know,
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  Speaker 4: you have the the early movers, the people that are
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  Speaker 4: that are in that. But is this technology takes hold.
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  Speaker 4: It's truly a story across the whole economy. You know,
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  Speaker 4: which companies will benefit it from it? There'll be the
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  Speaker 4: companies that utilize it in their business models efficiently and profitably.
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  Speaker 4: You know, you look at a company like Microsoft. Yes,
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  Speaker 4: they've benefited from from you know, their their windows and
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  Speaker 4: their office suite and all those things that they did
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  Speaker 4: years and years ago. But but who also benefitted from it?
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  Speaker 4: All the companies that have that on their desktop, making
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  Speaker 4: their operations more efficient and I think that's what we're
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  Speaker 4: going to see with the AI. It's it's at some
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  Speaker 4: point that's going to be the story. It's like, who
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  Speaker 4: is using this efficiently in their business model?
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  Speaker 3: These It's so interesting when you watch, you know, companies
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  Speaker 3: that like Nvidia. It was interesting just because you know,
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  Speaker 3: like with the meme stocks and game stop or something,
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  Speaker 3: something gets singled out and then even the normy start
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  Speaker 3: following it. You know. It's sort of like, you know,
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  Speaker 3: you don't have to be dialed into the culture to
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  Speaker 3: be like, oh, what's that Nvidia stock doing or whatever?
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  Speaker 3: And some people even probably casually got in on it
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  Speaker 3: because of that. But it's interesting because every once in
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  Speaker 3: a while a company like that, say it's highlighted, you
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  Speaker 3: get to kind of watch this arc and if you
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  Speaker 3: if you watch it, you know, just from an information
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  Speaker 3: standpoint at point or dispassionately, you learn something from from this,
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  Speaker 3: and I mean, that's your job, so you know that.
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  Speaker 3: But but for me it's kind of interesting, you know.
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  Speaker 4: But where what you said there though, is is is
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  Speaker 4: one of the risks that the casual investor can get
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  Speaker 4: sucked into and then take losses or have a bad
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  Speaker 4: impress of the market. So, for instance, when somebody that
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  Speaker 4: is not actively engaged in investing starts talking about an
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  Speaker 4: individual stock and maybe tiptoes in and makes their first investment.
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  Speaker 4: By the time they do that, the run is probably
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  Speaker 4: nearing the end of the cycle. Because this is a
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  Speaker 4: casual person that's not an investor. You know, they're not
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  Speaker 4: going to be the first mover on something like this generally,
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  Speaker 4: And so then what inevitably happens, you know, not that
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  Speaker 4: the company goes bad, but now the stock loses momentum
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  Speaker 4: at the time that those last movers start moving in.
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  Speaker 4: You know. That's why we've talked before on the show
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  Speaker 4: about stocks need to climb a wall of worry to
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  Speaker 4: keep going higher. In other words, there have to be
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  Speaker 4: doubters that get converted to continue to bid the stock higher.
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  Speaker 4: And if everybody is on the on the train, who's
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  Speaker 4: who's left to push that stock higher.
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  Speaker 3: That's a great point too. There's less velocity from things,
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  Speaker 3: and I.
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  Speaker 4: Think sometimes as a casual investor or a first time investor,
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  Speaker 4: you might be drawn to those type of things first,
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  Speaker 4: and then you get burnt, or you feel like you're
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  Speaker 4: getting burnt because you know, not that in the video
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  Speaker 4: or those type of companies are going to be bad
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  Speaker 4: companies going forward. But the but the maybe the momentum
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  Speaker 4: has waned and maybe you've lost temporarily. You know, Microsoft
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  Speaker 4: did the same thing. Every company that you can imagine
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  Speaker 4: if you look at their history, there have been many
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  Speaker 4: times where their stock is going down, you know, ten, thirty,
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  Speaker 4: fifty percent. Even Warren Buffett said, I think it's four
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  Speaker 4: or five times his own company has fallen fifty percent
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  Speaker 4: or more in value over his career.
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  Speaker 3: Yeah, that those things happened, and that happens.
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  Speaker 4: And if you are a a casual investor that gets
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  Speaker 4: in on something that's hot and then all of a
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  Speaker 4: sudden it's not, it sometimes contains your whole view of investment.
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  Speaker 4: And that's that's one of the real risks that that
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  Speaker 4: you have, as as if if you're a beginner really
• 12:07
  Speaker 4: getting into it, it's it's, well, the first thing you did,
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  Speaker 4: you got into something that wasn't you know, A A
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  Speaker 4: fully thought out and or well diversified approach.
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  Speaker 3: To the stock market doesn't give you free money like
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  Speaker 3: the online casinos do. You know, the online casinos will
• 12:25
  Speaker 3: take your first losses because they want to get you hooked.
• 12:27
  Speaker 3: So you know, they give you so much money when
• 12:29
  Speaker 3: you sign up that you can only use to bet
• 12:31
  Speaker 3: with it, because they want to get you hooked, and
• 12:33
  Speaker 3: then they want to absorb your losses if you lose first.
• 12:35
  Speaker 3: If you win first, thing, you're hooked already. So the
• 12:37
  Speaker 3: stock market doesn't do that, So you have to be
• 12:39
  Speaker 3: a little bit more careful as far as these stays go.
• 12:41
  Speaker 3: One story that I ran across earlier that I thought
• 12:44
  Speaker 3: was interesting a couple of news items that have to
• 12:46
  Speaker 3: do with Warren Buffet, and we talk about him every
• 12:48
  Speaker 3: once in a while. One thing that I found on
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  Speaker 3: the Motley Fool that I thought was kind of interesting
• 12:51
  Speaker 3: is it took a retrospective look at the big sell
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  Speaker 3: off that Buffett had of Apple that was back in
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  Speaker 3: this that that was earlier in the year. And of
• 12:57
  Speaker 3: course it was a huge, massive sell off with one
• 12:59
  Speaker 3: of the are just ones that Berkshire Hathaway has ever done.
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  Speaker 3: But the applestock actually went up after that, you know, So,
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  Speaker 3: I mean, here he was trying to make a and
• 13:08
  Speaker 3: who knows that's such a large thing that he's doing,
• 13:11
  Speaker 3: what his strategy was, and it may not even be,
• 13:13
  Speaker 3: but from the outside looking in, it looks like somebody
• 13:15
  Speaker 3: that was trying to position themselves to protect themselves against
• 13:17
  Speaker 3: some exposure, but it ended up that the stockment did
• 13:20
  Speaker 3: very well afterwards. And just even one of the best
• 13:23
  Speaker 3: investors that we recognize doesn't call it right every single time.
• 13:27
  Speaker 4: No, it's impossible to do that in the short term.
• 13:30
  Speaker 4: It's much easier to look at it over a long
• 13:33
  Speaker 4: period of time and get those directions correct. But short terms,
• 13:39
  Speaker 4: there are too many variables that can move the market,
• 13:41
  Speaker 4: and too many news stories that emotionally move the market
• 13:44
  Speaker 4: that the make the traders move, not necessarily the investors.
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  Speaker 3: Well, what is it? And so? And I don't want
• 13:49
  Speaker 3: to get too far off the topic here. I just
• 13:51
  Speaker 3: find this pretty fascinating. Again with Buffett, I remember reading
• 13:55
  Speaker 3: in the news a while back, and I guess this
• 13:56
  Speaker 3: is still going on his investments in Bank of America.
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  Speaker 3: So what is it? It shouldn't mean anything to me
• 14:02
  Speaker 3: or to the general investor that Warren Buffett's out there
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  Speaker 3: basically off selling his shares of Bank of America. It's
• 14:07
  Speaker 3: like almost seven billion dollars. Now I think that he's
• 14:09
  Speaker 3: what does that mean or what would I take from that?
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  Speaker 3: As somebody just out here reading these headlines. If should
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  Speaker 3: I go peruse my portfolio, Do I have anything that's
• 14:16
  Speaker 3: in a that has Bank of America in it? Or
• 14:19
  Speaker 3: just let let it go?
• 14:21
  Speaker 4: I'd say, if you want to follow that close by
• 14:23
  Speaker 4: his stock and let him do it right. You know,
• 14:30
  Speaker 4: portfolio managers make moves for lots of different reasons.
• 14:34
  Speaker 3: And it's not always just for like in my mind
• 14:39
  Speaker 3: because I'm a layperson, I'm not an expert on this.
• 14:41
  Speaker 3: It's like, well, you say, because you don't trust it,
• 14:43
  Speaker 3: But that's not always necessarily the case. You might just
• 14:44
  Speaker 3: want to liquidate something to move with somewhere else. That's right.
• 14:47
  Speaker 4: There might there might be capital that has needed to
• 14:49
  Speaker 4: do another project that that it feels like, hey, this
• 14:52
  Speaker 4: might have more reward potential. You know, who knows what
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  Speaker 4: is going on behind the scenes there? You know it, Uh,
• 15:02
  Speaker 4: it's it's impossible to know those things. So, you know,
• 15:06
  Speaker 4: sometimes people do strategy changes for tax purposes, you know,
• 15:12
  Speaker 4: reallocating assets. You know, maybe another business has a capital
• 15:16
  Speaker 4: need that that that they're choosing the fund. I mean,
• 15:21
  Speaker 4: who knows. You know, the the Berkshire Hathaway Company, it's
• 15:27
  Speaker 4: it's also an insurance company. I mean, there are there
• 15:29
  Speaker 4: are reasons that you may need capital within that business.
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  Speaker 4: So it's it's hard to tell a.
• 15:35
  Speaker 3: Couple of conversations I picked up when we're going to
• 15:37
  Speaker 3: take a break here coming up in just a second.
• 15:38
  Speaker 3: When we come back, by the way, you can get
• 15:39
  Speaker 3: in with John Burdett as well, steer the conversation to
• 15:42
  Speaker 3: something that you wouldn't need to learn about this morning.
• 15:43
  Speaker 3: Three zero four three four five fifteen fifty eight three
• 15:45
  Speaker 3: four five fifty eight fifty eight. You can send over
• 15:47
  Speaker 3: text three zero four non three five five zeros you're
• 15:49
  Speaker 3: eight three zero four non three five five zeros you eight.
• 15:52
  Speaker 3: A couple of conversations that I kind of picked up
• 15:54
  Speaker 3: on as of late that I know we've talked about before,
• 15:56
  Speaker 3: but I thought maybe we could run them a little bit.
• 15:59
  Speaker 3: Someone in retire who or someone not in retirement, but
• 16:03
  Speaker 3: someone who maxes out their contributions to like four oh
• 16:05
  Speaker 3: one K and things along those lines, what to do
• 16:07
  Speaker 3: with that money, what do they put it next where
• 16:08
  Speaker 3: it can do best work for them. I want to
• 16:09
  Speaker 3: talk about things along those lines because there are some
• 16:11
  Speaker 3: advantages and things that you can do to help with
• 16:13
  Speaker 3: those things, and there are maximum contributions to certain tools
• 16:17
  Speaker 3: that we have, and so there's things that you can
• 16:18
  Speaker 3: do with that money and to help you out. So
• 16:20
  Speaker 3: I thought maybe we could get into that just a
• 16:21
  Speaker 3: little bit because I heard a couple of folks talk
• 16:23
  Speaker 3: about that in the last couple of weeks. So we're
• 16:25
  Speaker 3: going to take a break, and any questions that you
• 16:26
  Speaker 3: have or any way you want to steer the conversation,
• 16:28
  Speaker 3: you're more than welcome to join in. Three zero four
• 16:30
  Speaker 3: three four five fifty eight fifty eight text three zero
• 16:32
  Speaker 3: four non, three five five zeros or eight four. Avenue
• 16:35
  Speaker 3: Financial could be found in downtown Charleston, one seventy Court Street.
• 16:38
  Speaker 3: It's right across from the Town Center mall. Their phone
• 16:41
  Speaker 3: numbers three zerre A four seven four six seven non
• 16:42
  Speaker 3: seven seven. I'll be sure to get all that information
• 16:44
  Speaker 3: out to you, and plenty of time before we leave
• 16:47
  Speaker 3: the air waste today three zero four seven four six
• 16:49
  Speaker 3: seven non seven seven fourth Avenue Financial dot com one
• 16:51
  Speaker 3: line and on Facebook. Give us a call this morning
• 16:53
  Speaker 3: though three zero four three four five fifty eight fifty
• 16:56
  Speaker 3: fifty eight. We'll take a break. Be back right after this.
• 16:58
  Speaker 3: You're listening to a retire right radio, but John are dead.
• 17:00
  Speaker 3: I'm deal Cooper on FAVDWCCHS the Voice of Charleston.
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  Speaker 3: You are listening to Sorry Right Radio on the Voice
• 19:28
  Speaker 3: for Charleston five at EWCHS the Voice of Charleston John
• 19:31
  Speaker 3: Burdett with Fourth Avenue Financial teaching you how you can
• 19:34
  Speaker 3: retire right. You can give John a call here this
• 19:36
  Speaker 3: morning three zer fourth three four five fifty to fifty
• 19:37
  Speaker 3: eight three four five fifty to fifty eight. You can
• 19:40
  Speaker 3: also Texas this morning three zero four non three five
• 19:43
  Speaker 3: five zero zero eight three zero four non three five
• 19:45
  Speaker 3: five zeros you eight. And then finally, of course, you
• 19:48
  Speaker 3: need to know about Fourth Avenue Financial. You can find
• 19:50
  Speaker 3: the information online Fourth Avenue Financial dot com. You spell
• 19:53
  Speaker 3: out the whole thing Fourth Avenue Financial. Also do that
• 19:55
  Speaker 3: search on Facebook and you can like the page over
• 19:57
  Speaker 3: there all kinds of information to share on the Facebook
• 20:00
  Speaker 3: page and on the website that will let you learn
• 20:03
  Speaker 3: about Fourth Avenue Financial. Here in Charleston, located at once
• 20:06
  Speaker 3: seventy Court Street, downtown Charleston, and I will get the
• 20:09
  Speaker 3: rest of the information out to you before the show's over.
• 20:11
  Speaker 3: I don't want to get too many numbers out to you,
• 20:12
  Speaker 3: just in case you're trying to call us this morning.
• 20:14
  Speaker 3: Three z are four three four five fifty eight fifty
• 20:15
  Speaker 3: eight is our number three zero four three four five
• 20:17
  Speaker 3: fifty eight fifty eight. So I don't want to get
• 20:19
  Speaker 3: too much into the details. Because it was ans and
• 20:21
  Speaker 3: accidentally eaves dropped conversation that I was that I heard
• 20:25
  Speaker 3: the other day. But I had heard some folks talking
• 20:27
  Speaker 3: about their retirements and things like that. My impression was
• 20:31
  Speaker 3: they probably didn't have a financial advisor that was helping them,
• 20:35
  Speaker 3: that they had been doing it kind of themselves and
• 20:37
  Speaker 3: doing well apparently from the context of the conversation, but
• 20:41
  Speaker 3: they were worried about contributions to like their four one
• 20:43
  Speaker 3: K they max out, and it may have been even
• 20:47
  Speaker 3: something else, I'm not sure if they had another another
• 20:49
  Speaker 3: IRA or something like that they were mixing. I'm not
• 20:51
  Speaker 3: sure exactly what the context was, but just from the
• 20:54
  Speaker 3: basics of it was that they were maxing out their
• 20:57
  Speaker 3: contributions every year, and they weren't sure what to do
• 20:59
  Speaker 3: with the money that they couldn't put in what I
• 21:02
  Speaker 3: guess was their only investment account, is the thing that
• 21:05
  Speaker 3: I was and so I think that they were just
• 21:07
  Speaker 3: holding money in like a money market account or something
• 21:09
  Speaker 3: like that. And I was like, this sounds like something
• 21:11
  Speaker 3: that John would have an opinion on.
• 21:14
  Speaker 4: Well, yeah, I mean, certainly it's a good problem if
• 21:16
  Speaker 4: you're maxing out, yeah, or retirement accounts, but there are
• 21:19
  Speaker 4: limits to those things. You know, depending on your age.
• 21:24
  Speaker 4: Generally it's going to be twenty some one thousand dollars
• 21:27
  Speaker 4: in your four oh one K that you can put
• 21:29
  Speaker 4: in and then you're and then you're maxed out. And
• 21:32
  Speaker 4: if you want to save more than that, you have
• 21:34
  Speaker 4: to way to do that. There are certainly i ra's
• 21:39
  Speaker 4: you you potentially could fund and get some advantages on.
• 21:43
  Speaker 4: Some of those benefits depend on the income you make
• 21:46
  Speaker 4: and and if if if they're fully available to you,
• 21:51
  Speaker 4: which is something you have to look at that frequently
• 21:55
  Speaker 4: comes into play. When you have somebody maxing out there
• 21:59
  Speaker 4: for one K, they're probably a higher income person and
• 22:04
  Speaker 4: that would that might exclude them from some of the
• 22:08
  Speaker 4: more traditional ways that you can save for retirement. You know,
• 22:13
  Speaker 4: anybody can save in a brokerage account. You can open
• 22:16
  Speaker 4: up a taxable account and just try to tax manage
• 22:20
  Speaker 4: that investment so it's not tax deferred like a four
• 22:23
  Speaker 4: oh one K, but there's no limit to that. So
• 22:26
  Speaker 4: if you want to put one hundred thousand dollars on
• 22:28
  Speaker 4: an investment account, you certainly can do that. You can
• 22:32
  Speaker 4: invest in it just about anything you want to invest in,
• 22:35
  Speaker 4: and at the end of the year, you're gonna get
• 22:38
  Speaker 4: a ten ninety nine. Unlike your four oh one K
• 22:41
  Speaker 4: and your tax deferred retirement investments, you're gonna get a
• 22:44
  Speaker 4: ten ninety nine, and you're gonna pay taxes on you know,
• 22:47
  Speaker 4: capital gains and dividends and things that are received in
• 22:50
  Speaker 4: that account. There are strategies that you can use within
• 22:57
  Speaker 4: that to try to minimize that tax bill, but it's
• 23:02
  Speaker 4: kind of a pay as you go unlike a four
• 23:04
  Speaker 4: oh one K, where it's tax deferred and then at
• 23:07
  Speaker 4: the end you start paying taxes as you pull it out.
• 23:11
  Speaker 4: The advantage to a brokerage account is you don't have
• 23:14
  Speaker 4: to wait till you're fifty nine and a half at
• 23:16
  Speaker 4: a retirement age to pull the money out because it's
• 23:19
  Speaker 4: not tax deferred. It's simply liquid money that you can
• 23:25
  Speaker 4: utilize any time you wish to, and the tax hit
• 23:29
  Speaker 4: as when you do that is sometimes much less because
• 23:33
  Speaker 4: you're paying the taxes along the way.
• 23:35
  Speaker 3: Right, Yeah, it makes sense. It keeps you from running
• 23:37
  Speaker 3: a total there, so that would make a lot of sense.
• 23:39
  Speaker 4: Right, So that frequently is what you'll see. I mean,
• 23:43
  Speaker 4: there are all kinds of other ways, depending on your
• 23:47
  Speaker 4: tax situation, that you can look at making investments. They're
• 23:53
  Speaker 4: going to be within the brokerage account. But to tax
• 23:55
  Speaker 4: manage it, you know, you can you can look for
• 24:00
  Speaker 4: types of bonds, municipal bonds, things like that that aren't
• 24:02
  Speaker 4: taxable to you to help minimize your tax bill. You know,
• 24:07
  Speaker 4: where you might want to hold certain types of assets
• 24:11
  Speaker 4: if you're in that position, you know, the ones that
• 24:14
  Speaker 4: that throw off a lot of uh, you know, income,
• 24:18
  Speaker 4: capital gains, things of that nature. You might want to
• 24:21
  Speaker 4: own that in your tax deferred and own other things
• 24:24
  Speaker 4: that are a little more tax preferred in your in
• 24:26
  Speaker 4: your brokerage account. So a lot of it is is
• 24:30
  Speaker 4: just getting those strategies right and figuring out you know,
• 24:34
  Speaker 4: just like anything else, what is the time horizon, when
• 24:36
  Speaker 4: do I want to use this money? What is my
• 24:38
  Speaker 4: tax situation? And how do I how do I, you know,
• 24:42
  Speaker 4: earn money? But how more so than that, keep more
• 24:46
  Speaker 4: of what I earn, uh from from shielded from the taxman.
• 24:51
  Speaker 3: And this just goes to show in this situation, I mean,
• 24:53
  Speaker 3: this is obviously somebody was doing very well, but uh
• 24:55
  Speaker 3: in managing themselves. They just had a limited knowledge of
• 24:57
  Speaker 3: tools that are available to them. And that's what your
• 24:59
  Speaker 3: job is. And that's why I wanted to bring this up.
• 25:01
  Speaker 3: If you're in a situation anything like this, you don't
• 25:03
  Speaker 3: know what might be available to you, and that's why
• 25:05
  Speaker 3: you need to call someone like John to help you out,
• 25:07
  Speaker 3: or call John specific.
• 25:07
  Speaker 4: Most folks that are in high income situations and maybe
• 25:11
  Speaker 4: business owners, professionals, things of that nation. I mean, they
• 25:14
  Speaker 4: they work a lot at what they do to earn
• 25:17
  Speaker 4: that income.
• 25:17
  Speaker 3: Right yeah you know, yeah, well why do you need
• 25:19
  Speaker 3: to learn the other stuff? That's why you do your
• 25:21
  Speaker 3: job is so they can do that. So you contact
• 25:23
  Speaker 3: Fourth Avenue Financial one line, Fourth Avenue Financial dot com
• 25:25
  Speaker 3: their phone number three zero four seven four six seven
• 25:27
  Speaker 3: on seven seven, because you don't because the the mystery
• 25:30
  Speaker 3: of the unknown and what you don't know can I mean,
• 25:33
  Speaker 3: maybe not physically hurt you, but it could certainly keep
• 25:35
  Speaker 3: you from putting some money to work that you could
• 25:37
  Speaker 3: have work for you otherwise. If if you're to be.
• 25:39
  Speaker 4: And there are so many ways, if if you happen
• 25:43
  Speaker 4: to also be a business owner, you know, a high
• 25:46
  Speaker 4: income business owner, there are ways that you can potentially
• 25:51
  Speaker 4: save way more than than the typical four oh n
• 25:56
  Speaker 4: K max. You know, you're going to add profit sharing
• 25:58
  Speaker 4: and all these other things the to that deferred plan
• 26:02
  Speaker 4: and you know, get that up to sometimes close to
• 26:06
  Speaker 4: seventy thousand dollars depending on the situation. There there are
• 26:10
  Speaker 4: lots of ways that may be available to you if
• 26:15
  Speaker 4: you are a business owner, depending on your you know, situation,
• 26:19
  Speaker 4: on what you're trying to accomplish. So you know, a
• 26:21
  Speaker 4: lot of times, you know, business owners, they're on their own.
• 26:25
  Speaker 4: You know, nobody's saving for you. For you in your
• 26:28
  Speaker 4: four oh one K you have to set all of
• 26:29
  Speaker 4: that up. But there are some tools out there that
• 26:32
  Speaker 4: may be available to you that aren't if you're if
• 26:36
  Speaker 4: you're an employee in a company, you know, in your
• 26:38
  Speaker 4: employee you just have to take the plan put in
• 26:40
  Speaker 4: front of you. As a business owner, you can craft
• 26:43
  Speaker 4: that a little bit depending on what your needs are.
• 26:46
  Speaker 3: And if this is if this is you out there,
• 26:47
  Speaker 3: either as a business owner of the person that needs
• 26:49
  Speaker 3: some help, you can give John a call at Fourth
• 26:51
  Speaker 3: Avenue Financial three zero four seven four six seven nine
• 26:53
  Speaker 3: seven seven, or call us this morning before leave the airways.
• 26:55
  Speaker 3: We still have ten minutes left in the program. Threes
• 26:57
  Speaker 3: are four three four five fifty fifty eight three four
• 26:59
  Speaker 3: five fifty eight fifty eight. The second conversation that I
• 27:01
  Speaker 3: overheard is a little less I guess optimistic for the
• 27:07
  Speaker 3: person that was having the discussion. And this is like
• 27:10
  Speaker 3: I'm just constructing this and I created the scenario mostly
• 27:12
  Speaker 3: on my own, but it was something that inspired me
• 27:15
  Speaker 3: on the on the on the talk. So if someone
• 27:20
  Speaker 3: takes an earlier retirement, what is it at sixty seven?
• 27:23
  Speaker 3: I think is the the the all clear age?
• 27:25
  Speaker 2: Is that?
• 27:25
  Speaker 5: Right?
• 27:26
  Speaker 4: Yeah? Well it's some of it depends on when you're born,
• 27:29
  Speaker 4: but yeah, right right, yeah, some somewhere in that neighborhood.
• 27:31
  Speaker 3: But if you if you take what's considered an early retirement,
• 27:35
  Speaker 3: so you don't have access to like your funds at
• 27:38
  Speaker 3: at tax free and all those things, right, But then
• 27:41
  Speaker 3: you end up still having a four to one K
• 27:43
  Speaker 3: account that you're starting to draw from. In other words,
• 27:46
  Speaker 3: that probably means that somewhere along the ways you mismanage
• 27:49
  Speaker 3: your retirement. I mean, it's because you're getting tax penalties
• 27:51
  Speaker 3: at that point if you're withdrawing from your four one K.
• 27:55
  Speaker 3: Is that right?
• 27:55
  Speaker 4: Well potentially, I mean there you've you've outlined some things.
• 27:59
  Speaker 4: There have variables. So if you retire early, depending on
• 28:04
  Speaker 4: the age, you can take Social Security as early as
• 28:09
  Speaker 4: sixty two. It is a reduced rate, but you can
• 28:14
  Speaker 4: take it at sixty two to get some cash flow
• 28:16
  Speaker 4: from that. You know, one of the big problems of
• 28:20
  Speaker 4: retiring early is what to do about healthcare. You know,
• 28:23
  Speaker 4: Medicare is sixty five, and so if you retire early
• 28:27
  Speaker 4: and you don't have some sort of a retirement package
• 28:29
  Speaker 4: that was offered to you to bridge that, you're on
• 28:32
  Speaker 4: your own for that health insurance. And that keeps a
• 28:34
  Speaker 4: lot of people in the workforce, quite frankly, who might
• 28:37
  Speaker 4: otherwise financially be able to retire your retirement accounts, your
• 28:44
  Speaker 4: tax deferred accounts. Fifty nine and a half is the age, Okay,
• 28:49
  Speaker 4: So if you retire pre fifty nine and a half,
• 28:53
  Speaker 4: let's say you're fifty six years old. Well, you have
• 28:56
  Speaker 4: a problem there because you'll be penalized ten percent if
• 28:58
  Speaker 4: you take out your retirement accounts pretty fifty nine and
• 29:05
  Speaker 4: a half. Well, how do you deal with that? Well,
• 29:07
  Speaker 4: there are a couple of ways. I mean, if you've
• 29:08
  Speaker 4: separated employment after age fifty five, you can do a
• 29:12
  Speaker 4: one time distribution from that without penalty. You pay taxes,
• 29:16
  Speaker 4: you have that. If you have wroth money roth iras
• 29:21
  Speaker 4: Roth contributions and your four oh one K, you can
• 29:24
  Speaker 4: access your principle without penalty. The brokerage accounts so we
• 29:28
  Speaker 4: talked about in the previous question, you can access those
• 29:32
  Speaker 4: to help bridge that gap. So if you're planning to
• 29:36
  Speaker 4: retire early or wanting to retire early, it's really smart
• 29:39
  Speaker 4: to think about that well in advance, so you can
• 29:42
  Speaker 4: stage your assets correctly to make the capital available to you,
• 29:48
  Speaker 4: the money available to you at the right time. There
• 29:52
  Speaker 4: are other ways that you can get access to your
• 29:55
  Speaker 4: four oh one K. They're called substantially equal distributions. You know,
• 30:01
  Speaker 4: there are loopholes where you can utilize it and create
• 30:04
  Speaker 4: income from from that. But there are also things that
• 30:09
  Speaker 4: tie your hands a little bit when you when you
• 30:11
  Speaker 4: go down those roads, and and you might get get
• 30:15
  Speaker 4: out of the penalties, but now you're restricted on how
• 30:17
  Speaker 4: you can access it for a number of years going forward.
• 30:21
  Speaker 4: So there's all kinds of things to consider. If you're
• 30:23
  Speaker 4: thinking about, you know, doing something that's sort of non
• 30:27
  Speaker 4: traditional retiring early, you know, that's when you really need
• 30:30
  Speaker 4: to set down, you know, if you if you know
• 30:33
  Speaker 4: you want to do that, and you've got a tenure runway,
• 30:36
  Speaker 4: you know, that gives you some time to build that
• 30:39
  Speaker 4: bridge to some of those key dates, uh and and
• 30:44
  Speaker 4: and you can plan, you know, here's how I'm going
• 30:46
  Speaker 4: to get to this key date. Here's how I'm going
• 30:48
  Speaker 4: to get to this key date with these funds that
• 30:50
  Speaker 4: we've structured this way, it can be very difficult if
• 30:53
  Speaker 4: you if you have saved for a traditional age retirement
• 30:58
  Speaker 4: and then you just you know, a side seven direct
• 31:00
  Speaker 4: you go another direction. You know, you've got to figure
• 31:04
  Speaker 4: out really quickly how am I going to bridge bridge
• 31:07
  Speaker 4: until these dates come about.
• 31:09
  Speaker 3: That kind of makes me think about another question along
• 31:12
  Speaker 3: not really along those lines, but say that you that
• 31:14
  Speaker 3: you whether you wherever you retire, it's over the age
• 31:17
  Speaker 3: of fifty nine and a half. So you have access
• 31:18
  Speaker 3: to your four one k, but that's all you have.
• 31:20
  Speaker 3: You that you worked at just a couple of companies.
• 31:22
  Speaker 3: You kept on transferring over your four one k whatever
• 31:24
  Speaker 3: it be, but you have no other investments. Is that
• 31:26
  Speaker 3: something that someone that that that is in that situation
• 31:29
  Speaker 3: can do with their four one k? Should they look
• 31:30
  Speaker 3: at diversifying that at that point, even if it's already
• 31:33
  Speaker 3: laid into their life, or should they just leave it
• 31:35
  Speaker 3: the way it is? What's that person's best option there
• 31:38
  Speaker 3: if they've already kind of pulled the pin they have
• 31:39
  Speaker 3: this four one k account, Is there any diversification you
• 31:42
  Speaker 3: can do at that point? Just keeping the four one
• 31:44
  Speaker 3: k situation dependent?
• 31:46
  Speaker 4: You mean if they retire early, yeah, yeah, yeah, surely, yeah, yeah,
• 31:49
  Speaker 4: you're retiredly at that point you have to look at
• 31:51
  Speaker 4: some of those other options that I had mentioned. You know,
• 31:54
  Speaker 4: can you take a one time distribution? Can you Does
• 31:57
  Speaker 4: it make sense to set up the the the income
• 32:00
  Speaker 4: stream with the equal payments? You know, it just depends
• 32:06
  Speaker 4: on the situation. I mean, I mean essentially, you know,
• 32:10
  Speaker 4: you can do it potentially, but you might have to
• 32:16
  Speaker 4: kind of thread the needle a little bit to get
• 32:19
  Speaker 4: it done.
• 32:20
  Speaker 3: So the the the ideal way to do this. Then
• 32:22
  Speaker 3: if you're somebody that's relatively a little younger and you're
• 32:26
  Speaker 3: trying to plan for this, is you would you would
• 32:28
  Speaker 3: call it John Bird debt and say, this is my goal.
• 32:30
  Speaker 3: I want to really retire about fifty five. Here's the
• 32:33
  Speaker 3: situation I'm in, here's my income, here's what I'm doing.
• 32:35
  Speaker 3: Let's sit down and figure out how we can do
• 32:37
  Speaker 3: this if it's possible for that person. That's when you
• 32:39
  Speaker 3: can help somebody lay out a plan, because you need
• 32:41
  Speaker 3: to have something that's available for you at fifty five
• 32:43
  Speaker 3: and then at fifty nine and a half formally, so
• 32:45
  Speaker 3: you can stage these things so those different tools become
• 32:48
  Speaker 3: available for you at the correct times. That as long
• 32:50
  Speaker 3: as you plan things out and you're disciplined for it,
• 32:52
  Speaker 3: maybe you can pull that off. You retire at fifty.
• 32:54
  Speaker 4: Five absolutely, I mean the longer runway you have before
• 32:57
  Speaker 4: the date and before the money is needed, the more
• 33:01
  Speaker 4: concise and to find your plan, a more likely it
• 33:04
  Speaker 4: is that those things are going to come through.
• 33:06
  Speaker 3: It's just so important to have the awareness and the
• 33:09
  Speaker 3: ability to do this and just in learning all these
• 33:12
  Speaker 3: years that we've done this show with John, there's people
• 33:14
  Speaker 3: out there that I know that just have a knock
• 33:16
  Speaker 3: for different things, and or maybe they've ucked into it
• 33:18
  Speaker 3: or something like that. I just can't see, unless you
• 33:20
  Speaker 3: have the good fortune of a whirlwind finances falling in
• 33:24
  Speaker 3: your lap, how you can manage that all on your own.
• 33:27
  Speaker 3: I mean, it seems like it would be very difficult
• 33:28
  Speaker 3: for somebody that's generally working a regular job, maybe even
• 33:31
  Speaker 3: relatively high income, but it's not like millions of dollars
• 33:33
  Speaker 3: or something. It just seems like having the professional help
• 33:37
  Speaker 3: is the way to go with that, because you get
• 33:38
  Speaker 3: all the tools available to you, get somebody to kind
• 33:41
  Speaker 3: of coach you into best practices and how to do things,
• 33:44
  Speaker 3: and also somebody to kind of moderate your emotions a
• 33:47
  Speaker 3: little bit. If you get a little bit too worked
• 33:49
  Speaker 3: up on stuff, you can do it, but I think
• 33:50
  Speaker 3: it's a lot easier to do it with a professional help.
• 33:53
  Speaker 4: Yeah, especially that emotional moderation. I think that is one
• 33:56
  Speaker 4: of the major keys.
• 33:58
  Speaker 3: Some of the stuff that I've heard recently coming from
• 34:00
  Speaker 3: folks that are that are you know, election fear or
• 34:05
  Speaker 3: whatever it might be or whatever. Just some of the
• 34:06
  Speaker 3: things that are wild and like. At first, I thought
• 34:09
  Speaker 3: it was like theories that were like out in the
• 34:12
  Speaker 3: you know, in the in the media space somewhere, and
• 34:13
  Speaker 3: I was like, man, this is getting wild and dark
• 34:15
  Speaker 3: in hurry. And then I do some research and I'm like,
• 34:17
  Speaker 3: I can't even find this anywhere. This is like people's
• 34:20
  Speaker 3: self generating just the wildest theories on things. And that
• 34:25
  Speaker 3: can really be crippling for somebody if they're trying to
• 34:27
  Speaker 3: do something on their own and they think, I don't know,
• 34:29
  Speaker 3: aliens are taking all the gold or you know, whatever
• 34:31
  Speaker 3: it might be. I mean, that could really trick you
• 34:34
  Speaker 3: into doing some pretty poor management with your money. You
• 34:37
  Speaker 3: gotta be careful with.
• 34:38
  Speaker 4: That, Yeah, no doubt about it. I mean, you have
• 34:40
  Speaker 4: to keep your emotions at bay and take a good
• 34:42
  Speaker 4: long term view of things to achieve those long term goals.
• 34:46
  Speaker 4: You don't achieve a long term goal with being whipsawed
• 34:50
  Speaker 4: by short term news.
• 34:52
  Speaker 3: I heard somebody say once and I thought that I
• 34:55
  Speaker 3: thought it was maybe offered in a little bit of levity,
• 34:57
  Speaker 3: but maybe they were completely serious. But it had to
• 34:59
  Speaker 3: do with the last presidential election after a president Biden
• 35:02
  Speaker 3: won the election, and the person said, I'm going to
• 35:05
  Speaker 3: show them by making even more money than I made
• 35:09
  Speaker 3: under meaning that they felt it was confrontational any of
• 35:13
  Speaker 3: the changes. But I'm going to show them and still
• 35:15
  Speaker 3: make all my money. Fine. I mean, that's a great
• 35:17
  Speaker 3: way to go about it. If that's the way you
• 35:19
  Speaker 3: got to look at it, you know, take it as
• 35:20
  Speaker 3: a challenge.
• 35:21
  Speaker 4: Well, and you know, policies always have a backside to them,
• 35:27
  Speaker 4: so you know, you look at something and say, well,
• 35:30
  Speaker 4: this is I don't like this policy. But if you
• 35:32
  Speaker 4: read deeply, there's probably a loophole somewhere somebody else's you know.
• 35:38
  Speaker 4: You know, it's the who you know, meet the new boss,
• 35:41
  Speaker 4: same as the old boss.
• 35:42
  Speaker 3: Sometimes the policy only applies to the people that can't
• 35:45
  Speaker 3: afford the attorneys to find the loophole. That's correct, That's
• 35:49
  Speaker 3: the way it works out. A lot of time. Hey,
• 35:50
  Speaker 3: we don't have a few seconds left in the program.
• 35:52
  Speaker 3: Let me get all the information out to you. Always
• 35:53
  Speaker 3: love my conversations with John Bradet for Fourth Avenue Financial
• 35:56
  Speaker 3: Sage advice on how you can retire right and do
• 35:58
  Speaker 3: it the right way getting into your retire whether you
• 36:00
  Speaker 3: want to do it their traditional way, something a little
• 36:02
  Speaker 3: bit off the beaten path, retire early. Maybe you're in
• 36:04
  Speaker 3: a little bit of trouble now, you're not sure where
• 36:06
  Speaker 3: to go. John can help you out at Fourth Avenue Financial.
• 36:08
  Speaker 3: Let me give you those contact details. It's fourth Avenue
• 36:11
  Speaker 3: Financial dot com. You spell out the whole thing. Also
• 36:12
  Speaker 3: on Facebook. Located one seventy Court Street, Downtown Charleston. Three
• 36:15
  Speaker 3: zero four seven four six seven doin seven seven three
• 36:18
  Speaker 3: zero four seven four six seven nine seven seven one
• 36:20
  Speaker 3: more time three zero four seven four six seven non
• 36:22
  Speaker 3: seven seven Fourth Avenue Financial, one seventy Court Street, Downtown Charleston,
• 36:27
  Speaker 3: usually on Mondays. John will be back on Monday, as
• 36:28
  Speaker 3: a matter of fact, and we'll have another update of
• 36:30
  Speaker 3: the show then, as we do retire Right Radio every Monday,
• 36:33
  Speaker 3: unless there's a holiday like there was this week.