Latest / WCHS Network Podcasts / 05/11/2026 Retire Right Radio with John Burdette

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05/11/2026 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 Verdett 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: Hsdas, Hey, that's us. Good morning. You're listening to retire
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Speaker 2: Right Radio one five EDWCHS, the voice of charleson amdel Cooper,
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Speaker 2: thanks for tuning in on this Monday morning. You made
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Speaker 2: it through the weekend, man, What a beautiful weekend it was.
0:56
Speaker 2: Mother's Day was a beautiful day. Yesterday. We wake up,
0:59
Speaker 2: come to work today. It's a little rainy, but maybe
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Speaker 2: it should be like that. Mother's Day was nice and
1:03
Speaker 2: sunny yesterday for our moms. Today we're back at work
1:06
Speaker 2: and you know, not not celebrating moms on their special
1:09
Speaker 2: day anyway. I always forget which Mike that is that'
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Speaker 2: Joonbredett f for fourth Avenue Financial that is Mike three.
1:15
Speaker 2: I have to remember that is Mike three that you're
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Speaker 2: sitting beside.
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Speaker 3: We're in the fancy new studio, aren't we.
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Speaker 2: Yep, we've got new studios. This will be our permanent
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Speaker 2: home now. It's we've we've been bopping around. We've been
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Speaker 2: in a new studio for a while, but this is
1:25
Speaker 2: our new new studio, so this should be our permanent home.
1:28
Speaker 2: Eventually we'll have some video stream coming from here and
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Speaker 2: everything as well, so it should be pretty nice. Got
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Speaker 2: a shave me too. I've been dealing with this for
1:37
Speaker 2: for a little over a year now though, so for
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Speaker 2: the afternoon show, so I've you know, not wearing the
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Speaker 2: certain shirts for the patterns get all messed up. Although
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Speaker 2: I don't think that's with four K and stuff. I
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Speaker 2: don't think that's as prevalent as it once was, where
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Speaker 2: you would get like your your your clothes could mess
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Speaker 2: up the it was on video. But John Bredette is
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Speaker 2: here with us this morning. This is retire RTE Radio,
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Speaker 2: which means that you can have any of your questions
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Speaker 2: answered on how you can return are right. If you're
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Speaker 2: if headlines make you a little nervous, you got a
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Speaker 2: little bit of a hard late start, or maybe you're
2:05
Speaker 2: just chugging lighted along. You want to know if you're
2:07
Speaker 2: doing the right thing, or you've been doing a four
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Speaker 2: to one K but not much else, and you wonder
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Speaker 2: if you can get involved a little bit more. I've
2:13
Speaker 2: had some life changes. There's all kinds of different things
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Speaker 2: that you might need to get a hold of joenbre Debt,
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Speaker 2: so you can do that first and foremost here this morning.
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Speaker 2: If you want to, we'll give you Fourth Avenue Financials
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Speaker 2: more information as we go along.
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Speaker 3: Here.
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Speaker 2: You can call us this morning at three zero four
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Speaker 2: three four five fifty eight fifty eight three four five
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Speaker 2: fifty eight fifty eight. You can text three zer a
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Speaker 2: four non three five five zeros r eighth three zero
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Speaker 2: four non three five five zero zero eight is the
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Speaker 2: way you can text in as well. You can find
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Speaker 2: out more information about Fourth Avenue Financial online. It's fourth
2:37
Speaker 2: Avenue Financial dot com. Where you spell out the whole
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Speaker 2: thing fourth Avenue Financial dot com that is online, and
2:42
Speaker 2: then do that same search on Facebook without the outcom
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Speaker 2: and you can like the page on Facebook as well.
2:48
Speaker 2: So John, here we are coming through another another another week.
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Speaker 2: There were some earnings, there was some more war talk,
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Speaker 2: other things going on.
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Speaker 3: Whatever, that's pretty much I think what the market is
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Speaker 3: saying right now exactly. I mean, the market is very resilient.
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Speaker 3: The earnings are good. I think the longer this deal
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Speaker 3: and Iran goes oh on, the more the market is
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Speaker 3: just focusing on fundamentals of earnings of companies. And earnings
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Speaker 3: of companies have been really strong, about eighty nine percent
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Speaker 3: of the S and P five hundred that's reported, they're
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Speaker 3: beating their expectations and we're up year of year over
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Speaker 3: twenty percent on earnings. You know, people say, well, as
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Speaker 3: stock market keep going up, well because the companies are
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Speaker 3: making money. And yes, some of the oil impact isn't
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Speaker 3: in all this quarter's earnings reports yet and it remains
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Speaker 3: to be seen if that will be a drag on
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Speaker 3: some but but keep in mind, you know, high oil
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Speaker 3: prices also represent higher earnings for certain companies. So when
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Speaker 3: you look across the earnings profile. You know, the one
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Speaker 3: thing that's really impressive this year is that it's across
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Speaker 3: the board. You know, most sectors are seeing those those
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Speaker 3: high earnings. It's not just the tech stocks that everybody
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Speaker 3: thinks about. It's it's much more widespread earnings growth and
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Speaker 3: that's what powers the market forward over time.
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Speaker 2: That's a great that's a great point. And again when
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Speaker 2: you follow this show and the things that you talk
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Speaker 2: about on this show all the time, that this just
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Speaker 2: naturally fits into what you normally talk about in the
4:26
Speaker 2: pacing that you talk about. I mean it, I mean, honestly,
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Speaker 2: it just fits.
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Speaker 1: You know.
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Speaker 2: I mean, if if you've listened long enough, I mean
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Speaker 2: not that you uh, not that you're nostradamus, but you
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Speaker 2: read data. There's history, there's things that that you know
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Speaker 2: is going to happen eventually. You just have to be
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Speaker 2: patient and uh and uh and uh understand how these
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Speaker 2: things work. But you know, I mean, these companies know
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Speaker 2: how to make money, they know what's going on the
4:48
Speaker 2: other side of things, and I think that it's actually
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Speaker 2: a telle of incredible resiliency in some ways.
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Speaker 3: You know.
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Speaker 2: The flip side of that is you get like some
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Speaker 2: of the some of the folks that you know want
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Speaker 2: to protest against you know, the Builllionaires and stuff like that.
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Speaker 2: And I'm not saying that there's whatever that that's going on,
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Speaker 2: but the fact of the matter is it's amazing that
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Speaker 2: whatever is happening societally, you know, wars, whatever it is,
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Speaker 2: that companies find a way, you know, they're they're finding
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Speaker 2: a way to not just level, but to find a
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Speaker 2: way to make profits, to in some cases make their
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Speaker 2: board hole. But that's what their jobs are, and we
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Speaker 2: ride on that. And I mean in a way that works,
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Speaker 2: that's a good thing, right, Yeah, no doubt.
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Speaker 3: I mean, you know, the the profit motive keeps everybody
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Speaker 3: in a way working together to solve problems. You know,
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Speaker 3: it's it's the way we organize the world to solve problems.
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Speaker 3: And and it works. It works. And that doesn't mean
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Speaker 3: tomorrow there couldn't be a headline that takes the market
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Speaker 3: down and it spooks the market. But over time, you know,
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Speaker 3: there's no doubt that that process works. And and you know,
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Speaker 3: there's never been a decline in the market where we
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Speaker 3: haven't seen a rebound a new record highs and essentially
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Speaker 3: that's what's happening here right now.
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Speaker 2: It's a great information. So if you want to get
6:05
Speaker 2: in and maybe have John help you out a little bit,
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Speaker 2: steer you some, you can send us a text message
6:09
Speaker 2: if you like threes or a four nine three five
6:11
Speaker 2: five zero eight, give us a call threes or a
6:12
Speaker 2: four three four five fifty eight fifty eight. Threes are
6:14
Speaker 2: a four three four five fifty eight fifty eight. Any
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Speaker 2: indicators we should keep our ears out for this week
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Speaker 2: as far as reportings or any major announcements that we're expecting.
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Speaker 3: Not that I'm you know, I'm not that I'm aware of,
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Speaker 3: certainly not anything that is impactful enough to change your
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Speaker 3: long term strategy.
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Speaker 2: I like how that goes. I know that there's a
6:34
Speaker 2: summit I think between the president and the Chinese president
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Speaker 2: ze coming Chee coming up later this week, I think, right,
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Speaker 2: But I think, so you're not going to have any
6:43
Speaker 2: effects on the market, you know.
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Speaker 3: Even if it will be it will be temporary, I'm sure.
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Speaker 2: So you send me an article earlier that talks about
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Speaker 2: and this is an important kind of a way to
6:55
Speaker 2: approach things because one of the things that I think
6:59
Speaker 2: that people say pschologically have to get over when it
7:01
Speaker 2: talks about investment or planning or something like that. Is
7:03
Speaker 2: they feel like that. Even people that have their stuff
7:05
Speaker 2: together maybe feel like they didn't get it together quick enough,
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Speaker 2: you know, like they're always chasing a neighbor or chasing
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Speaker 2: somebody that maybe they saw somebody on Facebook or something
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Speaker 2: to talking about, look how great my situation is, and
7:15
Speaker 2: they talked about how perfectly they planned everything out. That's
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Speaker 2: not necessarily the case for everybody. In fact, it's not
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Speaker 2: the case for a large majority.
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Speaker 3: Of people, especially social influencers, especially them.
7:29
Speaker 2: Well, you know, nothing is real once I found out
7:31
Speaker 2: that most of the cribs from MTV Cribs back in
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Speaker 2: the day were not those real houses of those celebrities.
7:36
Speaker 2: They were rented from like the ultra wealthy around LA
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Speaker 2: and then stage to look like those houses. So that
7:41
Speaker 2: once the wheels come off of MTV cribs, nothing is real.
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Speaker 3: Well so, actually it's not a new thing with social media.
7:52
Speaker 3: You know, people putting on fronts has been along going
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Speaker 3: on for a long time, I guess, but no, I
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Speaker 3: thought this article was interesting. It's from Fidelity. It's a
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Speaker 3: study of their you know they manage uh, the four
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Speaker 3: oh one K plans for lots of companies, So they
8:07
Speaker 3: have lots of participants in their in their four o
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Speaker 3: one ks, and and they put out studies from time
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Speaker 3: to time of of the participants and what they look like.
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Speaker 3: And uh, I think it's important to kind of every
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Speaker 3: now and in a check see if if you're kind
8:21
Speaker 3: of in the ballpark of of where people are. I
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Speaker 3: think also a reality check. You see all these articles.
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Speaker 3: I saw an article a couple of weeks ago that
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Speaker 3: said that every day in America there's a thousand new
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Speaker 3: millionaires created, and it's like, well, gosh, everybody's a millionaire. Well,
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Speaker 3: you know, not quite. I mean, there are a lot
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Speaker 3: of millionaires. Of course, a million's not what it used
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Speaker 3: to be inflation. But but but sometimes you hear things
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Speaker 3: like that, and that could either be encouraging if you
8:53
Speaker 3: look at it, like wow, look what's possible, But it
8:56
Speaker 3: also can be discouraging if you look at it it's like, wow,
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Speaker 3: I'm so far behind. I just throw my hands up
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Speaker 3: and quit. And so some of these numbers from Fidelity
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Speaker 3: I think will help kind of give you a perspective
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Speaker 3: of what the average looks like. And there again, the
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Speaker 3: average is not you know, large accounts can skew the
9:16
Speaker 3: averages as well, but it gives you a gauge of
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Speaker 3: how people got to where they are because it even
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Speaker 3: has contribution rates by age on here.
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Speaker 2: Yeah, and this is really very interesting. So why don't
9:26
Speaker 2: we walk through this just a little bit because I
9:29
Speaker 2: think that, I mean, if I didn't do this show
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Speaker 2: with you, I would have no idea what numbers that
9:34
Speaker 2: I should be looking at. So if I would look
9:36
Speaker 2: at my four one K and see a certain number
9:38
Speaker 2: in there, I might be driven by any number of
9:41
Speaker 2: different information streams. And if that's a good number, that's
9:43
Speaker 2: a bad number, whatever it might be. What is it
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Speaker 2: that we're seeing from this data. As far as as
9:48
Speaker 2: far as let's take our generation, I think that we're
9:51
Speaker 2: somewhere in the in the Gen X generation, right is
9:55
Speaker 2: where we are. So you know, we're coming up on retirement.
9:58
Speaker 2: You know a lot of us are. You know, if
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Speaker 2: you're looking at retirement within retirement age, we're somewhere in
10:03
Speaker 2: the ten or fifteen year mark for retirement, if not
10:06
Speaker 2: earlier on that with some of us that are situated
10:08
Speaker 2: for that. So we're approaching that landing hopefully. As far
10:10
Speaker 2: as retirement stuff, goes. So somebody takes a look at
10:13
Speaker 2: their four to one K, what are they likely to
10:16
Speaker 2: see and where should they be panicking at or not?
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Speaker 3: Well, of course, those folks in gen X are forty
10:22
Speaker 3: five to sixty years old. So according to the Fidelity
10:27
Speaker 3: numbers of Fidelity participants, the average four oh one K
10:31
Speaker 3: balance of somebody in that age group is one hundred
10:34
Speaker 3: ninety two three hundred dollars. The average IRA bet balance
10:39
Speaker 3: for somebody in that group is one hundred three thousand,
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Speaker 3: nine hundred and fifty two dollars. So what is said
10:44
Speaker 3: about three hundred thousand or so in in retirement savings?
10:51
Speaker 3: The employee on average is contributing ten point two percent
10:56
Speaker 3: of their pay to their company retirement plan, and then
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Speaker 3: most employers are putting about five percent match in some more,
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Speaker 3: some less, but that's the Fidelity average. And about fourteen
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Speaker 3: and a half percent of us have four O n
11:17
Speaker 3: K WROTH four O and K contributions going in. So
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Speaker 3: and about fifty four percent of us are relying on
11:26
Speaker 3: the target date funds that Fidelity puts in the plan,
11:29
Speaker 3: so the manage it for me type funds. So most
11:33
Speaker 3: people are being very passive with their investments and allowing
11:39
Speaker 3: the portfolios that are designed to be age based, where
11:43
Speaker 3: you become more conservative as you get older. You know,
11:46
Speaker 3: they're allowing that to take place in their plan rather
11:50
Speaker 3: than choosing their own investments.
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Speaker 2: And it's very interesting when you look through this now
11:56
Speaker 2: number one, we've seen how much as far as you know,
11:59
Speaker 2: where where four one K has taken over for retirement
12:02
Speaker 2: things that are baked in as far as employee contributions
12:05
Speaker 2: and things like that, And it's that's a little bit
12:07
Speaker 2: interesting to look at that data about generation where the
12:09
Speaker 2: older generations get higher matches from your employers. It looks
12:13
Speaker 2: like in a lot of the cases, Yeah, maybe that's
12:15
Speaker 2: invested in the company or something. You get higher matches
12:17
Speaker 2: as you're with a company longer. I can't remember how
12:19
Speaker 2: we work here. I think that might be how it works.
12:21
Speaker 3: But well, no, I mean maybe that maybe as you
12:27
Speaker 3: get older and get some more experience under your belt, maybe.
12:31
Speaker 2: Better benefits you end up with.
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Speaker 3: Well they have to be across the board, so but
12:35
Speaker 3: maybe you end up with a more established company as
12:39
Speaker 3: you got right, Yeah, smaller, maybe a smaller company that
12:43
Speaker 3: might be willing to take a chance on a young person.
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Speaker 2: I was really surprised. I thought it would be relatively
12:47
Speaker 2: uniform across the board. But Generation Z, for example, is
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Speaker 2: under four percent at three point seven, and Millennials are
12:52
Speaker 2: under five percent at four point six, and then Generation
12:54
Speaker 2: X and Baby Boomers, of course it's right at five percent,
12:56
Speaker 2: which is I think fairly standard as far as what
12:59
Speaker 2: employee match go at most places.
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Speaker 3: Yeah, most of them start at three percent and go
13:03
Speaker 3: go from.
13:03
Speaker 2: There, go up from there.
13:05
Speaker 3: You know what what I didn't realize, and it even
13:09
Speaker 3: surprised me, was that a quarter twenty five point three
13:13
Speaker 3: percent of Gen X have loans outstanding. That's that's the
13:17
Speaker 3: highest ratio of loans of any generation. And you know,
13:23
Speaker 3: I guess you can think through you know, maybe there's
13:26
Speaker 3: big expenses if you have children in colleges and things
13:30
Speaker 3: like that. Maybe that's what's going on there. I really
13:33
Speaker 3: don't know.
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Speaker 2: The two things when I was looking at I saw
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Speaker 2: that too earlier. And the two things that I could
13:37
Speaker 2: think about the affordability of housing, like in the after
13:44
Speaker 2: the interest rates came way down in the early two
13:46
Speaker 2: thousands and stuff like that, when a lot of people
13:47
Speaker 2: in Generation X were in that house buying mode. You know,
13:51
Speaker 2: it became very affordable. Then you get into a thirty
13:53
Speaker 2: year mortgage and you still have debt now, so that
13:55
Speaker 2: that sort of makes sense to me. And also just man,
13:58
Speaker 2: the collegiate push that that like my generation had and
14:01
Speaker 2: probably you did as well, Not that there was anything
14:03
Speaker 2: wrong with that, but it was like if you weren't
14:06
Speaker 2: immediately going to college right after high school, that was
14:08
Speaker 2: considered a failure and so everybody had to get into
14:10
Speaker 2: college to get their loans and stuff like that. So
14:12
Speaker 2: that seems reflective in that to be honest with you, Well, of.
14:15
Speaker 3: Course this number here the loan is a loan inside
14:18
Speaker 3: your four oh one K that you.
14:19
Speaker 2: Oh my gosh, I didn't understand that from the data.
14:22
Speaker 2: So this is borrowing from the four to one K. Yes,
14:23
Speaker 2: I didn't understand that. I'm sorry.
14:25
Speaker 3: So that is a surprising number to me.
14:28
Speaker 2: Then that is way surprising.
14:29
Speaker 3: Yeah, yeah, one out of four people have a four
14:32
Speaker 3: roh one K loan in our generation.
14:34
Speaker 2: I honestly didn't even know until COVID and I sort
14:37
Speaker 2: of had to make some emergency moves that I could
14:38
Speaker 2: even borrow from my plot with Kay. I didn't even
14:40
Speaker 2: know it was an example that it was something that
14:42
Speaker 2: you could do. Wow, So talk about that for just
14:45
Speaker 2: a second. I mean, obviously people can can get into
14:47
Speaker 2: a situation where like I mean honestly I did during COVID,
14:50
Speaker 2: where I needed to find a way to get some
14:52
Speaker 2: funds to free up and stuff and for a short
14:54
Speaker 2: term goal. It allowed me to do that. I was
14:57
Speaker 2: able to pay it off and make it whole again
14:59
Speaker 2: and every thing. But again, not everybody does that. So
15:02
Speaker 2: you end up paying you know, money back on your
15:04
Speaker 2: on your four O one K. But talk about what
15:06
Speaker 2: that does as far as your potential to save in
15:08
Speaker 2: things along those lines. Like, again, if you have to
15:10
Speaker 2: do it, you might have to do it, but you
15:11
Speaker 2: also might want to should you move that up when
15:13
Speaker 2: what you're paying off, like when you're looking at the
15:15
Speaker 2: things that are interest or should you sequence at the
15:17
Speaker 2: same place as you do on interest rates? Like still
15:19
Speaker 2: just whatever your highest interest rate is and work with that.
15:22
Speaker 2: Like what how does that change the calculation?
15:24
Speaker 3: You're essentially paying the interest.
15:25
Speaker 2: Back back to yourself, right, Yeah.
15:27
Speaker 3: But what it does it it it takes away the
15:32
Speaker 3: really the market growth that you would get on those
15:35
Speaker 3: funds when you pull that out. Uh, even though you're
15:38
Speaker 3: putting interest back in. You're putting it in from your
15:41
Speaker 3: your paycheck, not from uh not from market growth, So.
15:45
Speaker 2: It does.
15:49
Speaker 3: Damp of the ability to grow your money in the
15:51
Speaker 3: market if you've borrowed out of your four O one k. Also,
15:54
Speaker 3: there are risk associated with it if you're if you're
15:57
Speaker 3: you know, pre fifty nine and a half, which people
15:59
Speaker 3: are in the generation we're talking about here, if you
16:04
Speaker 3: would lose your job or want to change jobs, you know,
16:08
Speaker 3: you need to pay that loan off or you're going
16:11
Speaker 3: to be penalized for a distribution that you know, you
16:16
Speaker 3: can't move that money until you pay that off, or
16:19
Speaker 3: or that's considered a premature distribution which would be subject
16:24
Speaker 3: to taxes at a ten percent penalty. So they're a
16:26
Speaker 3: risk involved when you're taking loans out. It's something to
16:30
Speaker 3: really keep in mind because you can be well, it
16:34
Speaker 3: can tie you tie you up. You know, if you
16:37
Speaker 3: change jobs and you want to roll your money over
16:39
Speaker 3: and and you have that loan out standing all of
16:42
Speaker 3: a sudden, that's a that's a tax consequence. So you
16:45
Speaker 3: have to be careful.
16:46
Speaker 2: John are debt with fourth any financial you can weigh
16:48
Speaker 2: in this morning, if you would like threes or four three, four, five,
16:50
Speaker 2: fifty fifty dys or number threes or four nine, three five,
16:52
Speaker 2: five zeros or eight is a text one number. We
16:54
Speaker 2: have a text from the three or four nine, three nine.
16:56
Speaker 2: I think they're I think they were making a comment
16:58
Speaker 2: on the difference between average rem median when it comes
17:01
Speaker 2: to talking about the numbers, and they go on to
17:03
Speaker 2: explain what it means. But I thought that might be
17:05
Speaker 2: a good opportunity for you to kind of explain to
17:08
Speaker 2: folks the difference between when we're talking about different numbers,
17:11
Speaker 2: the difference between average and medium, and that because a
17:12
Speaker 2: lot of people are a little get a little confused
17:15
Speaker 2: on what that means.
17:16
Speaker 3: Yeah, yeah, no doubt about it. Of course. The average
17:19
Speaker 3: is just you take everybody's numbers and and you divide
17:23
Speaker 3: it up, you know, you add them up and then
17:25
Speaker 3: you divide it by the number of people, and that's
17:27
Speaker 3: your average.
17:27
Speaker 2: The highest high, the lowest of low. You put everybody
17:29
Speaker 2: in a in a in a pot and then you
17:31
Speaker 2: divide it by their total number.
17:32
Speaker 3: That's correct, So you know, you can you can definitely
17:34
Speaker 3: be skewed by really large counts on the average if
17:41
Speaker 3: they're if they're way out liars. It can it could
17:43
Speaker 3: pull the averages up. The median is just in the middle.
17:46
Speaker 3: You know, if there are twenty million people, what is
17:50
Speaker 3: what the and you you put the account balances from
17:54
Speaker 3: lowest to the highest, and you.
17:55
Speaker 2: Pick the ten ten millionth persons.
17:57
Speaker 3: Yeah, you know that's the median and and that is
18:00
Speaker 3: the subject to be skewed.
18:01
Speaker 2: But you know that's not going to be skewed by
18:03
Speaker 2: those outliers. Let me remind folks, if you call in
18:06
Speaker 2: this morning, you go into an auto Q. So if
18:08
Speaker 2: you call in I, we'll answer the phone and put
18:10
Speaker 2: it on hold. You'll hear John and not talking, and
18:12
Speaker 2: then we'll get to your call in just a moment.
18:14
Speaker 2: We had a caller that just hung up. If you
18:16
Speaker 2: want to give us a call back, you're more and
18:17
Speaker 2: welcome to do that. Threes are four three four five
18:19
Speaker 2: fifty fifty eight three four five fifty to fifty eight.
18:20
Speaker 2: Have another text message that came in as well from
18:22
Speaker 2: the three zero, four five to five eight. I've been
18:24
Speaker 2: reading about semiconductors being up like fifty percent in a month,
18:27
Speaker 2: and my brother keeps saying AI is the next Internet.
18:30
Speaker 2: Is it too late to get in on the stocks
18:33
Speaker 2: or is this another dot com bubble waiting to pop.
18:36
Speaker 3: Well, if I had a crystal ball. You know, the
18:39
Speaker 3: reality is, you know, semiconductors are are AI or not?
18:45
Speaker 3: I mean they're setting on everybody's desk, yeah, I mean
18:47
Speaker 3: that's pocket yeah, and that sort of thing. So it's
18:50
Speaker 3: certainly not a new concept to invest in those those
18:53
Speaker 3: type of things. You know, is the AI bubble or AI?
18:57
Speaker 3: Is it a bubble or is it a you know,
19:00
Speaker 3: a technology that will will transition smoothly to profitability across
19:05
Speaker 3: the economy. I mean that's really what we're talking about.
19:08
Speaker 3: I mean, if you look at the dot com bubble, yes,
19:12
Speaker 3: things got inflated, things blew up, but it also was
19:15
Speaker 3: a technology that changed the world. So it both can
19:20
Speaker 3: be true.
19:21
Speaker 2: And that's what I was thinking, is the answer is
19:22
Speaker 2: sort of yes, is that the next Internet? Or is
19:25
Speaker 2: a bubble? Yes? It's probably a little bit of both, right.
19:27
Speaker 3: I mean, anytime there's something new and novel, you know,
19:31
Speaker 3: the animal spirits get going, and and you know, people
19:36
Speaker 3: sometimes pay a little more than they should for the
19:39
Speaker 3: earning stream. You know, the expectations of what the future
19:42
Speaker 3: is going to be sometimes times can be overly optimistic
19:45
Speaker 3: or or the future may happen that you think will happen,
19:49
Speaker 3: but it doesn't happen in the time that you think
19:51
Speaker 3: it will happen. You know, you're when you're investing in
19:54
Speaker 3: these companies, you're investing on earnings expectations, not on actual
20:01
Speaker 3: earnings today.
20:02
Speaker 2: You know.
20:02
Speaker 3: That's why you know, back in the DOT conference, since
20:05
Speaker 3: people were buying companies that were not making any earnings
20:10
Speaker 3: and and with the hopes that, oh, these are going
20:13
Speaker 3: to be very profitable companies, and most of them did
20:16
Speaker 3: not become very profitable companies. But some think of Amazon
20:21
Speaker 3: and companies like that, became very profitable. And that's the
20:27
Speaker 3: I think that's where we are in the mix here.
20:29
Speaker 3: It is a little bit different now in that the
20:32
Speaker 3: companies that are at the forefront of this making all
20:34
Speaker 3: the investment are highly profitable companies already, you know, the
20:39
Speaker 3: big the big tech stocks. I mean, they were the
20:42
Speaker 3: biggest earners anyway before all this happened. And so you know,
20:48
Speaker 3: all of this investment that is being made, you know,
20:52
Speaker 3: they still have their core businesses that are earning. You know,
20:57
Speaker 3: they may be inflated in value potentially, I don't know,
21:00
Speaker 3: you know, it depends on what the future holds with earnings,
21:03
Speaker 3: but but an actual you know collapse like bubble like
21:10
Speaker 3: we had where most of those companies just go out
21:13
Speaker 3: of business to me, and I could be wrong, but
21:16
Speaker 3: to me, it seems like their core businesses are strong
21:19
Speaker 3: enough to h to support that investment.
21:24
Speaker 2: John Erdett with Fourth Avenue Financial and and and it's
21:28
Speaker 2: interesting how these subjects and topics always come up when
21:33
Speaker 2: when uh, you know, people where you're looking at what
21:36
Speaker 2: they're going to be missing out on or what h
21:38
Speaker 2: or what the fear on something like that is. And
21:40
Speaker 2: and then like one of the things I always look
21:42
Speaker 2: at before we do these shows, usually on the weekends,
21:44
Speaker 2: I'll go into some some of the forums of the
21:46
Speaker 2: reddits and things like that and look at some of
21:48
Speaker 2: their finance stuff, both like the the memestock stuff and
21:50
Speaker 2: the more serious people that try to be deliberative and
21:53
Speaker 2: things like that, and what these argument It seems like
21:56
Speaker 2: these always turn into arguments where people want to argue
22:00
Speaker 2: something that's not the finance of the company, you know.
22:02
Speaker 2: So like the whole thing with AI as people talking about, well,
22:05
Speaker 2: you know, Open eyeis funding all these companies that are
22:08
Speaker 2: that are making all their money. It's their money that
22:10
Speaker 2: so it's like cannibalism and they're just funding them themselves
22:12
Speaker 2: and it's but okay, but it's there now. And that's
22:16
Speaker 2: the kind of the job of the people who do
22:18
Speaker 2: these things is to is to level that.
22:20
Speaker 3: I think the real answer is there's always going to
22:24
Speaker 3: be something going on. There's always going to be innovation,
22:29
Speaker 3: and it is easy to get swept up and maybe
22:31
Speaker 3: in the euphoria or the fear of missing out all
22:34
Speaker 3: of those emotional type things. I think the best thing
22:38
Speaker 3: to do is focus internally. What are the actions I
22:43
Speaker 3: need to take to secure my future? You know? How
22:46
Speaker 3: do I save more money every month and live below
22:50
Speaker 3: my means so that I can create savings and investment.
22:53
Speaker 3: And if you're like most people according to this Fidelity survey,
22:58
Speaker 3: what are you doing. You're investing in those tarts at
23:00
Speaker 3: date funds, You're going to own some of those chip
23:04
Speaker 3: companies and AI and all that. You're going to participate.
23:07
Speaker 3: You don't have to be one hundred percent right if
23:09
Speaker 3: you play the game that way. You just need to
23:12
Speaker 3: participate and focus and control the things that are in
23:15
Speaker 3: your full control. How much do I save? You know,
23:19
Speaker 3: am I staying out of debt? All of those things.
23:21
Speaker 3: So you know, there are a lot of emotional type
23:25
Speaker 3: things that can that can come with money. But the
23:28
Speaker 3: reality is most people that are successful have have somewhat
23:31
Speaker 3: separated themselves like that and are just simply focusing on
23:35
Speaker 3: the actions that they can control.
23:39
Speaker 2: That's and again it's just working the plan and keeping
23:42
Speaker 2: that and keeping that together. I have two more text
23:44
Speaker 2: messages here. I'll tell you what we need to take
23:45
Speaker 2: a break. When we come back. We'll get to these
23:47
Speaker 2: text messages. If you want to weigh in one way
23:49
Speaker 2: or the other, you can text line is threes are
23:50
Speaker 2: four non three five five zero zero eight. You can
23:52
Speaker 2: give us a call. Threes are a four three four
23:54
Speaker 2: five fifty eight fifty eight. You're listening to Retry Right Radio.
23:57
Speaker 2: Johnberdad is here from Fourth Avenue Financial. I'm Dell Cooper.
23:59
Speaker 2: We'll take a break and be back right after this
24:01
Speaker 2: one five ADWCHS Voice of Charleston Retiret.
24:03
Speaker 4: Radio is sponsored by Fourth Avenue Financial, which is solely
24:06
Speaker 4: responsible for its content. Security is offered through jw CL
24:09
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24:20
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24:23
Speaker 4: All economic and performance information is historical and not indicative
24:26
Speaker 4: of future results. Investing may involve risk of loss of principle.
24:30
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24:32
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24:35
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24:38
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24:40
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24:44
Speaker 4: arise from the show. John Burdett is not providing legal
24:46
Speaker 4: or tax advice. Nothing should be construed as solicitation of
24:50
Speaker 4: an offer to buy securities. This program is sponsored by
24:52
Speaker 4: Fourth Avenue Financial, which is solely responsible for its content.
24:56
Speaker 5: I'm Lance Wheeler and I'm the Conservative Republican running for
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25:15
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Speaker 1: Call on jer It's Construction. This is retire Right Radio
25:59
Speaker 1: with John Dad from Fourth Avenue Financial, taking your calls
26:03
Speaker 1: at three oh four three four five fifty eight fifty
26:06
Speaker 1: eight or texts on three oh four nine five fifty eight.
26:20
Speaker 2: Twelve minutes to the top the hour. You're listening to
26:24
Speaker 2: Bobby WHS. The Voice of Charleston. John Bredet is in
26:27
Speaker 2: a studio with us this morning. We are taking your text,
26:30
Speaker 2: your phone calls, and any other questions you have about
26:32
Speaker 2: how you can retire. Right. Threes are A four three
26:34
Speaker 2: four five fifty eight fifty eight. If you want to
26:35
Speaker 2: get in here before we leave the airwaves this morning,
26:38
Speaker 2: one air THREEZ are a four three four five fifty
26:39
Speaker 2: eight fifty eight. You can text over your messages to
26:41
Speaker 2: three Z are a four non three five five zeros
26:43
Speaker 2: r eighth threes are A four non three five five
26:45
Speaker 2: zeros or eight. We've got a text from the six
26:47
Speaker 2: eight one three four one. I keep seeing articles about
26:51
Speaker 2: selling may and go away? Is that actual real advice
26:54
Speaker 2: or just something people say? The market seems fine, but
26:56
Speaker 2: I don't want to get caught holding the bag. We
27:00
Speaker 2: did a whole show in this month.
27:01
Speaker 3: We did, Yes, we did, of course holding the bag.
27:05
Speaker 3: It depends. I mean, if do you need all your
27:07
Speaker 3: all of your money in the the summer or are
27:09
Speaker 3: you planning for a long term retirement, so uh, you
27:12
Speaker 3: can't predict the market in the in the short term,
27:15
Speaker 3: the selling may and go it away? That that is
27:18
Speaker 3: a that is a saying because the uh, the Wall Street, Uh,
27:25
Speaker 3: people take vacations in the summer like everybody else, and
27:30
Speaker 3: historically trading volume is lower in the summer months because
27:34
Speaker 3: of that. And so uh, you know that turned into
27:38
Speaker 3: a saying, you know, statistically, what month is going to
27:41
Speaker 3: be the best or worth or worst month? No one
27:45
Speaker 3: knows because you don't know what the news is going
27:46
Speaker 3: to bring or or or what's going to happen. So
27:50
Speaker 3: so you know, those sayings are are certainly rooted in something.
27:55
Speaker 3: That's why they're sayings. But but uh, but as far
27:58
Speaker 3: as predicting the market, I wouldn't put too much weight
28:01
Speaker 3: on that.
28:02
Speaker 2: Yeah, I mean you have to go with what the
28:04
Speaker 2: real data showing you now and not like what you know,
28:06
Speaker 2: sort of a saying says, you know, because things are
28:08
Speaker 2: different at different times, I guess, yeah.
28:10
Speaker 3: Yeah, But it is true that the volume of the
28:13
Speaker 3: market does decline in the summer months because a lot
28:16
Speaker 3: of people are on vacation. You know, it just makes sense,
28:19
Speaker 3: I guess, right, right, And so it's like, oh, let's
28:22
Speaker 3: just sell, we won't miss anything, We'll go to the beach.
28:26
Speaker 3: But I wouldn't do that in your retirement plan, you know,
28:29
Speaker 3: focus long term, focus on, like you say, the things
28:34
Speaker 3: you can control, and your plan should be based on
28:38
Speaker 3: your own personal timeline, not the calendar. You know, if
28:41
Speaker 3: you are, you know, retiring next year, well then you
28:47
Speaker 3: you know you have to adjust your portfolio to be
28:49
Speaker 3: ready for that. If if you're retiring twenty years from now,
28:53
Speaker 3: that's a whole different type of portfolio that you need.
28:56
Speaker 3: So you know, you're the calendar is the one that counts,
28:59
Speaker 3: not the not the one behind the saying.
29:02
Speaker 2: I'll tell you what I just played around. This was
29:04
Speaker 2: a few weeks or maybe months ago at this point,
29:06
Speaker 2: but I took one of the AI agents and just
29:09
Speaker 2: just typed in general like retirement planning things along those lines.
29:13
Speaker 2: I was going to pitch a show to you about
29:14
Speaker 2: it to see if there's like something that we could
29:16
Speaker 2: do to but frankly, the information was so bad I
29:20
Speaker 2: didn't think there was really much of a point in
29:21
Speaker 2: it because there's just no way that you can do it.
29:23
Speaker 2: All that these llms do are their their language models,
29:27
Speaker 2: So they're predictive off of text that already exists, which
29:30
Speaker 2: means that by nature, everything that they're suggesting to an individual.
29:34
Speaker 2: Our stuff is a summary of advice that's been given
29:37
Speaker 2: to other people, which is fine from a broad standpoint maybe,
29:40
Speaker 2: but for individual advice it does not work. And you
29:42
Speaker 2: really need to be careful if you're trying to gamify
29:46
Speaker 2: things like that and say, oh, you know, with this
29:47
Speaker 2: one neat trick using JAGBT or whatever, I can do
29:50
Speaker 2: this with cutting out the middleman. It just doesn't work
29:53
Speaker 2: that way.
29:53
Speaker 3: And the problem with those little tricks, even if that
29:56
Speaker 3: selling mayn't go away, maybe back and that started. There
30:00
Speaker 3: were also a few years where boy, I wish I'd
30:03
Speaker 3: just sold before the summer because the market went down. Well,
30:06
Speaker 3: if there was a pattern that persisted that consistently, people
30:11
Speaker 3: would already be ahead of that, so you know, sell
30:15
Speaker 3: in May would turn to sell in February because everybody
30:18
Speaker 3: would want to get ahead of the of So so
30:21
Speaker 3: even you know, things like that go away because the
30:25
Speaker 3: market washes it out in the end, because the market
30:28
Speaker 3: is forward looking and and everybody would be trying to
30:32
Speaker 3: get ahead of something like that if it were a
30:37
Speaker 3: you know, true indicator. I ran across this. This text
30:40
Speaker 3: was left over from last week. I just now remember
30:42
Speaker 3: that I forgot it, and I promised I would get
30:44
Speaker 3: back to it, and it fits in well with sort
30:46
Speaker 3: of what.
30:46
Speaker 2: We were talking about earlier with the gen X and savings,
30:49
Speaker 2: and of course last week we were trying to tie
30:52
Speaker 2: in some of the some of the stages of savings
30:56
Speaker 2: into like classic rock songs and stuff along those lines.
30:58
Speaker 2: But this one is from the six eight one five
31:00
Speaker 2: one seven. I'm forty seven and honestly haven't saved much
31:02
Speaker 2: for a retirement. I make decent money now, but I
31:05
Speaker 2: always find something to spend it on the marketing. The
31:08
Speaker 2: market running like it is makes me feel like I'm
31:09
Speaker 2: even further behind? Is there a realistic path for me?
31:13
Speaker 2: So that fits right in with the guys from last
31:15
Speaker 2: week we were talking about.
31:16
Speaker 3: Yeah, yeah, start to start saving today today, now today.
31:21
Speaker 3: That's that's the only thing you can do. You don't
31:23
Speaker 3: control the market. The market always, over time, seems to
31:28
Speaker 3: be at record highs because that's the history of the market. Yes,
31:33
Speaker 3: so be pullbacks maybe one out of every four or
31:35
Speaker 3: five years. You're not going to like it, but you
31:38
Speaker 3: have to participate. You'll never And if if you start
31:44
Speaker 3: saving today and the market goes down twenty percent, you
31:48
Speaker 3: don't have much in there anyway. You're just averaging yourself
31:51
Speaker 3: in over time. And if you're forty seven and you
31:55
Speaker 3: haven't really started saving, you know, the average savings here,
32:00
Speaker 3: you know, ten eleven percent, you're going to have to
32:02
Speaker 3: step that up. You're going to have to get yourself
32:04
Speaker 3: to where you're saving fifteen twenty percent to try to
32:08
Speaker 3: get caught up. And the longer you wait, the more
32:11
Speaker 3: difficult that job is going to be. Even if the
32:14
Speaker 3: market goes down next month and you started today, you know,
32:18
Speaker 3: because you're you're buying shares that you're not going to
32:21
Speaker 3: sell or need for income, even at age forty seven
32:25
Speaker 3: for maybe twenty more years. What's going on today will
32:29
Speaker 3: not matter one lick twenty years from now as far
32:33
Speaker 3: as the market goes, but it matters tremendously what your
32:36
Speaker 3: actions are.
32:37
Speaker 2: Oh that's a great point. You got to get in
32:38
Speaker 2: to get start playing, you know. I mean you can't.
32:40
Speaker 2: You can't. There's no real way to get past that.
32:43
Speaker 2: And this is really a classic scenario I'm assuming where
32:47
Speaker 2: you got to work that debt snowball in a hurry.
32:49
Speaker 2: You got to pay off as much as you can,
32:51
Speaker 2: give as much as you can if.
32:52
Speaker 3: You have consumer debt. I mean, that's number one. Get
32:55
Speaker 3: rid of those credit card debts, those type of things.
32:57
Speaker 3: Those are the things that are potentially taking away your
33:01
Speaker 3: ability to save and invest, you know, so you have
33:06
Speaker 3: to do that. You have to have an emergency fund.
33:09
Speaker 3: You know, if you know, get yourself three months worth
33:13
Speaker 3: of living expensive, set aside an emergency fund, and after
33:16
Speaker 3: you have those two things in place, go full bore
33:20
Speaker 3: into investing for that retirement so you can catch up.
33:25
Speaker 3: If you skip those steps of paying off the debt,
33:29
Speaker 3: building the emergency fund, then you're putting your long term
33:33
Speaker 3: plan at risk because emergencies happen. You don't want to
33:38
Speaker 3: sell your retirement funds to take care of that emergency.
33:42
Speaker 3: You don't want to borrow against as twenty five percent
33:45
Speaker 3: of people have your four oh one K plan, because
33:48
Speaker 3: then you're giving up the value of the market compounding
33:51
Speaker 3: on you. You know, that emergency fund makes you a
33:54
Speaker 3: better investor. Don't skip that step. It seems boring, Oh,
33:59
Speaker 3: make two percent or three percent in a money market,
34:02
Speaker 3: but it serves a purpose in the plan, a very
34:04
Speaker 3: important purpose because when something happens, you know, not only
34:09
Speaker 3: are you not going to get the eight ten percent
34:11
Speaker 3: ready to return that over time that the market might provide,
34:15
Speaker 3: but then you may be taking penalties on top of
34:18
Speaker 3: it to get it out of that retirement plan. So
34:22
Speaker 3: you know, very important things that you need to put
34:24
Speaker 3: in place first, and then save as much as you
34:28
Speaker 3: can and do not worry about the timing and where
34:31
Speaker 3: the market is when you start.
34:33
Speaker 2: Something that I've done in the last couple of years
34:35
Speaker 2: a couple of times that I've honestly never before did,
34:38
Speaker 2: is I took extra funds that I had and not
34:42
Speaker 2: from my paycheck and put it into my work, my
34:45
Speaker 2: quote unquote work for one k It's easy to transfer
34:47
Speaker 2: over once you get all that stuff connected in and
34:49
Speaker 2: so I found myself with some I was given to
34:51
Speaker 2: give some extra money. I mean, it wasn't a ton.
34:53
Speaker 2: I was like, you know, I'm budgeted fine this month.
34:55
Speaker 2: That's okay, We're not going on a vacation or anything.
34:58
Speaker 2: You know. I just kind of quietly just put all that,
35:00
Speaker 2: you know, just shot it over there. And that's another
35:02
Speaker 2: thing you can do if you have I mean, obviously
35:04
Speaker 2: you don't want to live in such a storm measures
35:05
Speaker 2: that your life is terrible, but if you're looking to
35:07
Speaker 2: to make up on retirement, those are some of the
35:10
Speaker 2: things you can do a little disposable income. Maybe you
35:12
Speaker 2: should split it with your savings, you know, not just
35:15
Speaker 2: take it and do the disposable thing with it, but
35:17
Speaker 2: maybe eat that a little bit and put it in
35:19
Speaker 2: savings and help it work for you.
35:20
Speaker 3: Yeah. I always try to encourage people to, you know,
35:23
Speaker 3: get started and then every year try to raise that.
35:26
Speaker 3: You know, if you get a cost of living increase
35:29
Speaker 3: in your in your pay, for instance, maybe you get
35:31
Speaker 3: a three percent cost of living increase, take one percent
35:34
Speaker 3: of that. Now add that to your four oh one k.
35:36
Speaker 3: You're still getting two percent that you can you know,
35:39
Speaker 3: use today, but you're getting closer to your goal of
35:43
Speaker 3: getting that savings in there and growing for you.
35:46
Speaker 2: And I have to admit that our work for a
35:48
Speaker 2: one k here allows you to incrimently increase the amount
35:51
Speaker 2: that you contribute without you just say okay, every six months,
35:55
Speaker 2: I want to raise it by this fraction or whatever
35:57
Speaker 2: it is right and just leave it alone. And so
35:59
Speaker 2: I did that several years ago now and my contribution
36:02
Speaker 2: rate is actually now quite hot because it was very
36:04
Speaker 2: as like boiling the frog went up just a little
36:06
Speaker 2: bit every time that that it went up, And now
36:09
Speaker 2: it's pretty good and you know. I mean, it's it's
36:10
Speaker 2: much higher than what people average put in on their own.
36:13
Speaker 2: It exceeds my my match, you know.
36:15
Speaker 3: And and that works because most people spend what they
36:19
Speaker 3: have in hand. If you don't have it in hand,
36:21
Speaker 3: if it goes there first, then you're not going to
36:23
Speaker 3: spend it, which which is which tells you if you're
36:27
Speaker 3: if you get that backwards, how difficult it's going to be.
36:31
Speaker 2: That is true, right, that is true.
36:33
Speaker 3: You're you're saving and don't realize it, but you're also
36:36
Speaker 3: spending and you don't realize it. It's it's it's exact opposite.
36:39
Speaker 2: It's a leviathan that you can get you can wrap
36:42
Speaker 2: your wrap your arms around usually with a little bit
36:44
Speaker 2: of help, and you can get that help from Fourth
36:46
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36:48
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Speaker 2: Johns here every Monday. John, we'll see you back here
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Speaker 2: next Monday. All right, take care, have a great one.
37:12
Speaker 2: That's John fordet for Fourth Avenue Financial. Dave Allan's up next.
37:15
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