Latest / WCHS Network Podcasts / 1/13/2025 Retire Right Radio with John Burdette

Transcript

1/13/2025 Retire Right Radio with John Burdette · WCHS Network Podcasts

• 0:00
  Speaker 1: Unlock your dream property with Meeks Realty Group, where Rich
• 0:03
  Speaker 1: the realtor makes real estate dreams a reality, whether it's
• 0:05
  Speaker 1: residential or commercial. We've got Charleston to Huntington covered. Your
• 0:09
  Speaker 1: key to exceptional real estate experience is start here Meeks Realtygroup.
• 0:13
  Speaker 1: Contact us at Meeks dot us.
• 0:15
  Speaker 2: The views and opinions expressed on this program do not
• 0:18
  Speaker 2: necessarily reflect the views and opinions of five eight WCCHS,
• 0:22
  Speaker 2: its employees or WVRC Media. This is Retire Right Radio,
• 0:28
  Speaker 2: a weekly show from John Verdett at Fourth Avenue Financial
• 0:31
  Speaker 2: that aims to answer your questions about financial planning, investing,
• 0:35
  Speaker 2: and how to retire right. Fourth Avenue Financial is located
• 0:38
  Speaker 2: in downtown Charleston at one seventy Court Street. More information
• 0:42
  Speaker 2: online at Fourth Avenue Financial dot com. Join the conversation
• 0:46
  Speaker 2: by calling three oh four three four five fifty eight
• 0:49
  Speaker 2: fifty eight or text three oh four nine three five
• 0:52
  Speaker 2: fifty oh eight. On Retire Right Radio, Let's go live
• 0:57
  Speaker 2: to the studio with host Dale Cooper and John Verdett
• 0:59
  Speaker 2: from Fourth Avenue Financial.
• 1:01
  Speaker 3: Fail and a very happy Monday morning too. You congratulations,
• 1:05
  Speaker 3: you made it through the weekend. Hopefully made it through
• 1:07
  Speaker 3: the worst of the snow last week's snow anyway, and
• 1:09
  Speaker 3: had a little bit of a breather yesterday and so far.
• 1:12
  Speaker 3: This morning, you're listening to retire Right Radio on five
• 1:14
  Speaker 3: edwc HS, the Voice of Charles and I'm Del Cooper
• 1:16
  Speaker 3: John Furnett for Fourth Avenue Financial As in Studio with
• 1:19
  Speaker 3: this morning.
• 1:19
  Speaker 4: How are you going this morning, John.
• 1:20
  Speaker 5: Well, doing pretty good. I definitely picked the right week
• 1:23
  Speaker 5: to go out of town last Ah.
• 1:25
  Speaker 4: Yeah, that's not so bad. You got to avoid some
• 1:27
  Speaker 4: of this stuff, no doubt about it.
• 1:28
  Speaker 5: Yeah, although it was, I mean we were we went
• 1:31
  Speaker 5: on a cruise and went to the Bahamas and went
• 1:35
  Speaker 5: to Cozumel, stopped there, and it wasn't really blazing hot
• 1:40
  Speaker 5: even that far south. I mean, that's this this cold snap.
• 1:44
  Speaker 5: I mean it was still low seventies, sure still, but
• 1:49
  Speaker 5: you know it was it was for that time of
• 1:52
  Speaker 5: the year in the area. It was it was unseasonally,
• 1:55
  Speaker 5: unseasonably cool.
• 1:57
  Speaker 3: I remember for whatever, and maybe this is for everybody
• 1:59
  Speaker 3: that goes to to like Cancun for the first time,
• 2:02
  Speaker 3: but I remember when I went to Cancun, I had
• 2:04
  Speaker 3: a actually the owner of a company that I worked
• 2:06
  Speaker 3: for that was our Christmas bonus and we went down
• 2:09
  Speaker 3: there for Watuke. It was an absolutely insane time. But
• 2:13
  Speaker 3: I just remember like I had hadn't been out of
• 2:15
  Speaker 3: the country at that point in time. I was really
• 2:16
  Speaker 3: young when when we did this, and like Kozamel was
• 2:19
  Speaker 3: like the girl with the girl, Like everybody was like
• 2:22
  Speaker 3: Cancoon's great? But you really got to get over to
• 2:23
  Speaker 3: Cozamel like it was like the secret place. Now it's
• 2:26
  Speaker 3: almost as popular as cancuon it seems.
• 2:28
  Speaker 5: Like, yeah, well it's a you know, essentially a tourist trap.
• 2:33
  Speaker 5: Now oh yeah, yeah, you know, you get off, get
• 2:35
  Speaker 5: off the boat and uh every yet Betty has the
• 2:37
  Speaker 5: little sand trying to sell you things. So you get
• 2:40
  Speaker 5: on the you think, well, I'm going to get a
• 2:42
  Speaker 5: taxi and just go around the island to see what
• 2:45
  Speaker 5: what it's really like. Well, you know, the taxi always
• 2:48
  Speaker 5: takes you to places that are probably paying him off
• 2:51
  Speaker 5: to take sure, you know, it's that sort of thing.
• 2:54
  Speaker 4: But that's what it is.
• 2:55
  Speaker 3: It is. I mean, it's if there's anything I found
• 2:58
  Speaker 3: when I when I finally started traveling a lot, and
• 3:00
  Speaker 3: I travel quite a bit in South America, I find
• 3:03
  Speaker 3: that in places like that is really where you see
• 3:05
  Speaker 3: some of the biggest cultural differences between between like just
• 3:09
  Speaker 3: in general and commerce, Like the difference how commerce is
• 3:12
  Speaker 3: enacted in like South America or something like compared to here.
• 3:14
  Speaker 4: It's a lot different. That's more hot pressure, that's for sure.
• 3:17
  Speaker 5: Oh yeah, no doubt about it. I mean, you know,
• 3:19
  Speaker 5: people at every door trying to get you to come in.
• 3:22
  Speaker 3: It's a constant and maybe it's just for the tourist
• 3:24
  Speaker 3: and not locally, but still they get you sucked into
• 3:26
  Speaker 3: all of that. That's not necessarily what we're talking about
• 3:28
  Speaker 3: this morning, although we can. Of course, you're probably planning
• 3:31
  Speaker 3: for vacations or something along those lines. You might need
• 3:33
  Speaker 3: to roll that into what you're planning. Is if you
• 3:35
  Speaker 3: have any questions, We're going to talk about several things
• 3:37
  Speaker 3: this morning, but as always, if you have a question
• 3:39
  Speaker 3: about your personal finances on how you can retire right,
• 3:41
  Speaker 3: you can give John a call this morning at three
• 3:43
  Speaker 3: zero four, three, four five fifty eight fifty eight threes
• 3:45
  Speaker 3: are now let me correct that our office line number
• 3:48
  Speaker 3: three are A four three four two eight one three
• 3:49
  Speaker 3: one threes are A four three four two eight one
• 3:51
  Speaker 3: three one.
• 3:52
  Speaker 4: You can give John a call here this morning and
• 3:53
  Speaker 4: he can help set you on the right path.
• 3:55
  Speaker 3: Or maybe you need to ask the question for a
• 3:57
  Speaker 3: loved one. Maybe you have a kid that's just getting
• 3:58
  Speaker 3: started out for maybe you're looking at a at a
• 4:01
  Speaker 3: parent or a grandparent who maybe doesn't have all their
• 4:03
  Speaker 3: ducks in the row, and you're wanting to help out
• 4:04
  Speaker 3: a little bit, and you have a question. Give us
• 4:06
  Speaker 3: a call this morning. John can pick on the right
• 4:07
  Speaker 3: path three zero four, three four two eight one to
• 4:09
  Speaker 3: three one. You can text over any questions you have
• 4:11
  Speaker 3: as well to three zero four non three five five
• 4:13
  Speaker 3: zeros er eight three zero four non three five five
• 4:15
  Speaker 3: zeroser eight. Now I think that's the last time you
• 4:17
  Speaker 3: and I have had a lot live show. There's a
• 4:18
  Speaker 3: lot that's been going on. Mortgage rates aren't aren't an't
• 4:21
  Speaker 3: that great? They've been going up a little bit. There's
• 4:23
  Speaker 3: been a little bit of me I'm not saying the
• 4:26
  Speaker 3: economy is necessarily I mean, there's been hot jobs reports
• 4:28
  Speaker 3: and things like that, but things are a little scattershot
• 4:31
  Speaker 3: out there a little bit.
• 4:32
  Speaker 4: Yeah.
• 4:32
  Speaker 5: Essentially, the the jobs numbers, uh, while they were great,
• 4:36
  Speaker 5: they they actually spook the bond market. And of course,
• 4:40
  Speaker 5: when the bond market is spooked. That affects things like
• 4:42
  Speaker 5: your mortgage rates. The treasury yields are up, bond prices
• 4:48
  Speaker 5: are down. So that's uh, that's uh, you know, been
• 4:53
  Speaker 5: an adjustment really of expectation more than it is a
• 4:57
  Speaker 5: real calamity in in you know, because like you say,
• 5:01
  Speaker 5: people are still working and actually wage growth is growing
• 5:05
  Speaker 5: faster than inflation. Even though inflation is sticky and it's
• 5:08
  Speaker 5: not as low as we'd like it to be, wage
• 5:11
  Speaker 5: growth for the last year has been higher than inflation.
• 5:15
  Speaker 5: So that gap that was created with the big inflation
• 5:19
  Speaker 5: we had a couple of years ago where inflation ran
• 5:22
  Speaker 5: faster than people were getting raises. For the last year,
• 5:26
  Speaker 5: it's been the opposite, and that gap has been narrowing
• 5:28
  Speaker 5: and people are regaining their purchasing power to a degree.
• 5:32
  Speaker 5: It's still not to you know, where it was pre
• 5:36
  Speaker 5: the inflationary spike, but you know, you want to see that.
• 5:39
  Speaker 5: You want to see people being able to make headway
• 5:41
  Speaker 5: in the actual quality of life, and you know that
• 5:45
  Speaker 5: is still the track that we're on. It's just the
• 5:49
  Speaker 5: expectations of multiple interest rate cuts over this year. Now,
• 5:55
  Speaker 5: the expectation is that there may only be two small
• 5:58
  Speaker 5: cuts throughout the whole year, and we were talking seven
• 6:02
  Speaker 5: or eight Yeah, right, three or four or five months ago.
• 6:05
  Speaker 4: Yeah.
• 6:06
  Speaker 3: From a personal standpoint, these last couple of years seems
• 6:08
  Speaker 3: to have a personal vendetta against me because nothing ever
• 6:10
  Speaker 3: settles in in the way that I need it to
• 6:12
  Speaker 3: move for me to do what I wanted to do.
• 6:14
  Speaker 3: So I'm just in here waiting and waiting. It's like,
• 6:16
  Speaker 3: come on, I just need a couple of points one
• 6:17
  Speaker 3: way or the other, and I'm.
• 6:18
  Speaker 6: Not getting so you're you're rooting for that reception not
• 6:22
  Speaker 6: really just just things to settle down just a little bit.
• 6:24
  Speaker 6: I have such narrow thread that I can a needle
• 6:27
  Speaker 6: that I can thread. I'm just waiting for that one spot,
• 6:30
  Speaker 6: and I guess one of these days I'm just gonna
• 6:31
  Speaker 6: have to decide to do it or not.
• 6:32
  Speaker 5: Well, hopefully, if you're if you're saving along the way,
• 6:35
  Speaker 5: you will be ready when the opportunity comes.
• 6:39
  Speaker 3: That is what we hope to an endeavor to presevere
• 6:41
  Speaker 3: for that. That is absolutely true. But there are it
• 6:44
  Speaker 3: is uh And when you start hearing it in the news,
• 6:47
  Speaker 3: like I started hearing the all of the sort of
• 6:50
  Speaker 3: buzzwords and things like that.
• 6:51
  Speaker 4: As far as uh.
• 6:52
  Speaker 3: With the interest rate cuts and maybe not going to
• 6:54
  Speaker 3: have quite as many of them, And people take that
• 6:56
  Speaker 3: to mean different things, But the bottom line is is
• 6:59
  Speaker 3: we're just you know, we're still trying to find where
• 7:02
  Speaker 3: to settle in at on this economy we don't want
• 7:04
  Speaker 3: and we're kind of in a I don't know what.
• 7:06
  Speaker 3: I don't know if there's any historical precedent to this
• 7:09
  Speaker 3: type of situation during a handoff of an administration from
• 7:12
  Speaker 3: one to another. I mean, it happens, you know, either
• 7:14
  Speaker 3: every four to eight years, depending but it seems like
• 7:16
  Speaker 3: we're at a little bit of a volatile place right
• 7:18
  Speaker 3: now where we have sort of a little bit of
• 7:20
  Speaker 3: an unknown still with the economy, we have a paradigm
• 7:24
  Speaker 3: shift that's coming in potentially that's an interesting time.
• 7:28
  Speaker 5: It's interesting. But historically political changes don't affect the market
• 7:34
  Speaker 5: as much as most folks think that it does. Like
• 7:39
  Speaker 5: you say, they change, it changes every four years, every
• 7:42
  Speaker 5: eight years, heck, every two years, depending on you know, Congress,
• 7:46
  Speaker 5: and the market just kind of pushes through that. It
• 7:51
  Speaker 5: might create some volatility initially, but you know, as we've
• 7:54
  Speaker 5: talked about before, companies are trying to make a profit,
• 7:57
  Speaker 5: trying to serve their customers, and they're going to be
• 7:59
  Speaker 5: doing that no matter who's in power in Washington. What
• 8:03
  Speaker 5: what I think is really important this year because we
• 8:07
  Speaker 5: are at extended valuations on some of these stocks. The
• 8:11
  Speaker 5: earnings really need to come through like they have been.
• 8:15
  Speaker 5: There's really no sign that they won't come through. But
• 8:20
  Speaker 5: if they don't, that could upset the stock market.
• 8:23
  Speaker 3: Let's take a step back there just a little bit
• 8:25
  Speaker 3: and do a little bit of of class and when
• 8:26
  Speaker 3: you say extended evaluations, like, what does that mean when
• 8:30
  Speaker 3: you when someone says that they might be a little
• 8:31
  Speaker 3: bit of extended what does What does a common book
• 8:34
  Speaker 3: out there is, what does it mean by extended extended evaluation?
• 8:36
  Speaker 4: What does that mean?
• 8:37
  Speaker 5: Well, when you when you buy a stock, you're buying
• 8:39
  Speaker 5: a piece of a company. And or when you buy
• 8:43
  Speaker 5: a house, you know you're you're buying a house at
• 8:45
  Speaker 5: a certain valuation. And the piece of stock, just like
• 8:50
  Speaker 5: with the house, though, it's just a fraction of that company,
• 8:54
  Speaker 5: a very small fraction and in most cases, and so
• 8:58
  Speaker 5: if you have an inded valuation, what I'm really talking
• 9:01
  Speaker 5: about is you're paying more for that company valuation when
• 9:06
  Speaker 5: you buy that stock. So company values are inflated versus
• 9:11
  Speaker 5: their earnings. Historically, on the high end of the spectrum,
• 9:15
  Speaker 5: it's not you know, crazy high where you know, it's
• 9:20
  Speaker 5: ringing sirens everywhere, but we're relatively inflated as far as
• 9:26
  Speaker 5: valuations go per dollar of earnings. It's called a price
• 9:30
  Speaker 5: earnings multiple or a PE ratio. You may hear people
• 9:35
  Speaker 5: talk about that from time to time, and you know,
• 9:38
  Speaker 5: we're up in the in the.
• 9:42
  Speaker 2: You know, I don't know.
• 9:43
  Speaker 5: I think somewhere in the mid twenties now, and that's
• 9:47
  Speaker 5: pushing it a little bit as far as the historic valuations,
• 9:51
  Speaker 5: and if earnings fail to come through, then those valuations
• 9:59
  Speaker 5: are going to leave and look more extended.
• 10:01
  Speaker 3: So I guess if to some degree some of these
• 10:05
  Speaker 3: evaluations are based on reputation and history of a company, yeah.
• 10:10
  Speaker 5: Growth company, and without looking at a chart, I don't
• 10:15
  Speaker 5: I don't know right off the top of my head
• 10:17
  Speaker 5: that a lot of these companies might be trading for
• 10:20
  Speaker 5: fifty sixty times earnings. It's like, wow, that's a that's
• 10:24
  Speaker 5: really expensive to buy that stock. But if the expectation
• 10:28
  Speaker 5: is next quarter that their earnings are going to grow
• 10:30
  Speaker 5: by fifty percent, gotcha, then you can justify paying a
• 10:34
  Speaker 5: higher multiple because the earnings are going to catch up.
• 10:39
  Speaker 5: If those earnings fail to catch up, now you've bought
• 10:41
  Speaker 5: a company and maybe paid too much for it, at
• 10:43
  Speaker 5: least for a while until the earnings continue to grow.
• 10:47
  Speaker 3: Sometimes does this explain where you have a company that
• 10:50
  Speaker 3: reports earnings and everything, Like if you're just listening to
• 10:53
  Speaker 3: the news and you hear somebody reports a earner, he's like, oh,
• 10:54
  Speaker 3: they had a pretty good But then next thing you
• 10:56
  Speaker 3: know the next day is like the stock the stock
• 10:58
  Speaker 3: fails us like, well, why did the stock? That could
• 11:00
  Speaker 3: be some of it right where they met. They had earnings,
• 11:02
  Speaker 3: but it wasn't exactly what they projected. It wasn't what
• 11:05
  Speaker 3: the valuation whatever it might be, and so that dips
• 11:07
  Speaker 3: it just a little bit.
• 11:08
  Speaker 5: Yeah, and and there again, just think about it instead
• 11:11
  Speaker 5: of a stock, Just think about it you're buying a
• 11:13
  Speaker 5: whole company or a house or something like that. Just
• 11:16
  Speaker 5: forget about that it's a stock. You know, if you
• 11:19
  Speaker 5: buy a company and you pay or a house. Let's
• 11:22
  Speaker 5: say you buy a house and is a rental property.
• 11:26
  Speaker 5: You pay one hundred thousand dollars for it, and you
• 11:30
  Speaker 5: hope to rent it for one thousand dollars a month
• 11:32
  Speaker 5: and you only end up renting it for nine hundred
• 11:34
  Speaker 5: a month, you might be a little disappointed, but still
• 11:37
  Speaker 5: you've got nine hundred dollars a month coming in and
• 11:40
  Speaker 5: eventually the rents rise with just like company earnings, hopefully
• 11:44
  Speaker 5: it eventually rise and it can grow into that valuation.
• 11:47
  Speaker 5: So a lot of these big fluctuations you see around earnings,
• 11:52
  Speaker 5: even those are short term phenomena. If you get a
• 11:56
  Speaker 5: quality company. That is, you know, if you're still growing earnings,
• 12:00
  Speaker 5: you may have just paid a little too much for
• 12:02
  Speaker 5: it upfront. And so you know, that's why the market
• 12:07
  Speaker 5: is a long term endeavor. I mean, you're not going
• 12:11
  Speaker 5: to know from quarter to quarter exactly how a company
• 12:13
  Speaker 5: is going to report earnings. But if your company is
• 12:16
  Speaker 5: generally growing profits, the owner is eventually going to benefit
• 12:21
  Speaker 5: from that, unless you've really paid way too much for
• 12:24
  Speaker 5: that for that company, which you know can't happen. I mean,
• 12:29
  Speaker 5: you know, you look back in the tech bubble at
• 12:31
  Speaker 5: two thousand, two thousand and one, I mean, people were
• 12:33
  Speaker 5: paying crazy dollars for companies that really had no tangible earnings.
• 12:38
  Speaker 5: That's not the case with most of these hot flying
• 12:40
  Speaker 5: stocks today. You know, you talk about the Microsoft's and
• 12:43
  Speaker 5: the Apples and the Navidias and all of those tech
• 12:47
  Speaker 5: companies that have been driving us forward. They have real earnings,
• 12:50
  Speaker 5: they're historically big earnings, and they're still growing, and their
• 12:55
  Speaker 5: valuations while they're high, you know, at least in the
• 13:00
  Speaker 5: last couple of years, you've been able to justify that
• 13:03
  Speaker 5: because the earnings keep coming in better than expected.
• 13:06
  Speaker 4: Yeah, that makes sense.
• 13:07
  Speaker 3: Every time that I go into like down a rabbit
• 13:10
  Speaker 3: hole where I see people talking about the economy, and
• 13:12
  Speaker 3: especially a little bit earlier last year where tech stocks
• 13:16
  Speaker 3: were really leading the way a lot, and people were
• 13:17
  Speaker 3: talking about how this is going to be just like
• 13:19
  Speaker 3: two thousand and eight, this is just like dot com
• 13:22
  Speaker 3: bubble or whatever. And from doing this show, and literally
• 13:25
  Speaker 3: only from doing the show, in our discussions where you've
• 13:27
  Speaker 3: kind of walked me through this, it's so different. It's
• 13:29
  Speaker 3: not anywhere.
• 13:30
  Speaker 6: Now.
• 13:30
  Speaker 3: Something could happen, who knows, but it's not going to
• 13:32
  Speaker 3: be because of the same reasons, because there's actual money
• 13:35
  Speaker 3: making companies involved here, Whereas the previous burst with dot
• 13:38
  Speaker 3: common stuff all had to do evaluations that never came
• 13:40
  Speaker 3: to puish and they never made money.
• 13:42
  Speaker 5: Right, even back then, companies that survived like Amazon, back
• 13:47
  Speaker 5: then it wasn't even making money. It just happened to
• 13:50
  Speaker 5: be able to get through that period where it got there.
• 13:53
  Speaker 5: So that's totally different than today where these companies, I
• 13:57
  Speaker 5: mean they're making billions of dollars of profit a day, right,
• 14:01
  Speaker 5: I mean, it's a it's an incredible profit stream some
• 14:04
  Speaker 5: of these companies have. Uh So it's not as if
• 14:07
  Speaker 5: the company is just.
• 14:08
  Speaker 2: Going to.
• 14:10
  Speaker 5: Just all wholesale, roll up and go away. It's not
• 14:14
  Speaker 5: like that at all. It's just is the stock price
• 14:17
  Speaker 5: based on its earnings justifiable and its growth trajectory three z.
• 14:22
  Speaker 4: Are four three four two eight one three one.
• 14:23
  Speaker 3: If you want to talk to John Burdad on how
• 14:25
  Speaker 3: you can retire right this morn If you have any
• 14:26
  Speaker 3: questions about your financial sovereignty, you can give us a
• 14:29
  Speaker 3: call this morning. Three zero four three four two eight
• 14:30
  Speaker 3: one three one three zero four three four two eight
• 14:32
  Speaker 3: one three one. You can text over any questions you
• 14:34
  Speaker 3: have to three zero four non three five five zero
• 14:36
  Speaker 3: zero eight three zero four non three five five zero
• 14:39
  Speaker 3: zero eight. So the the more things change, the more
• 14:43
  Speaker 3: they say the same. I mean, we have we are
• 14:46
  Speaker 3: going to have a handoff of the administration and inauguration for
• 14:48
  Speaker 3: for President Trump is gonna be next week. But there's
• 14:51
  Speaker 3: not going to with all this stuff that's in the
• 14:53
  Speaker 3: news as far as tariffs or all these different things.
• 14:56
  Speaker 3: Kind of like how we started the show, and you know,
• 14:58
  Speaker 3: I was kind of picking through all these it still
• 15:00
  Speaker 3: is the same thing. People are going to be looking
• 15:03
  Speaker 3: to make their money. They're going to adjust to the market,
• 15:05
  Speaker 3: whatever it might be. It doesn't mean that you need
• 15:07
  Speaker 3: to blow up anything with your portfolio or anything along
• 15:09
  Speaker 3: those lines to the good or the bad. You know,
• 15:11
  Speaker 3: hold your ground, you see what's going to happen. You
• 15:13
  Speaker 3: don't have to do anything rash.
• 15:15
  Speaker 5: Yeah, most things that you worry about never come to pass.
• 15:21
  Speaker 5: I mean that's true, not just in finances, but all
• 15:24
  Speaker 5: of life, right, you know, we we worry way more
• 15:27
  Speaker 5: than things actually tend to happen. And uh and when
• 15:32
  Speaker 5: it's with your money there again, the emotions are are
• 15:34
  Speaker 5: can be amped up around that so historic historically there
• 15:40
  Speaker 5: can be volatility around administration changes. You know, if policy
• 15:45
  Speaker 5: changes quickly, that sort of thing. It's hard for me
• 15:49
  Speaker 5: to see that happening. I mean, you can you can
• 15:53
  Speaker 5: look at how closely divided we are, it's tough to
• 15:57
  Speaker 5: push big changes through. The tariff thing is is uh,
• 16:02
  Speaker 5: I think the big wild card you know how that's
• 16:04
  Speaker 5: going to play out. You know, is this talk a
• 16:10
  Speaker 5: negotiating strategy or are we going to see these big
• 16:16
  Speaker 5: tariff policies that that you know, not only are are
• 16:21
  Speaker 5: affecting our our adversaries but also our our our allies.
• 16:27
  Speaker 5: You know, that would be in an unusual thing to
• 16:30
  Speaker 5: see and and that might you know, create some volatility
• 16:33
  Speaker 5: until we see how that plays out. But uh, my
• 16:39
  Speaker 5: gut feeling tells me that it's going to be something
• 16:41
  Speaker 5: that we'll talk about for a while and then it
• 16:45
  Speaker 5: will kind of fade into the background like most things do.
• 16:47
  Speaker 3: Right, it will be announced that instead of tariffs, some
• 16:51
  Speaker 3: other deal was arranged that kept the tariffs being able
• 16:53
  Speaker 3: to be an actor or whatever.
• 16:54
  Speaker 4: We can about it. Right, some people can cheer about it.
• 16:59
  Speaker 3: I know that the only thing that really and you know,
• 17:02
  Speaker 3: not to project it too long term. The other thing
• 17:04
  Speaker 3: that really bothered me about the teriff situation was this
• 17:08
  Speaker 3: isn't the first time those have been enacted. When when
• 17:10
  Speaker 3: President Trump was in before, he used terrace quite a bit.
• 17:12
  Speaker 3: That changed fundamentally the way some businesses went about, like
• 17:14
  Speaker 3: supply chain things and stuff like that, which actually when
• 17:17
  Speaker 3: COVID came about, meant that they didn't have as mature
• 17:19
  Speaker 3: of established supply chains and things that they used to have.
• 17:22
  Speaker 3: So things that terrorists were put in place where that
• 17:24
  Speaker 3: caused American companies to make some changes actually affected our
• 17:27
  Speaker 3: supply routes during COVID. The domino effects of these things
• 17:30
  Speaker 3: can be pretty severe if you're not careful.
• 17:32
  Speaker 5: Yeah, yeah, And of course COVID was one of those
• 17:35
  Speaker 5: out of left field things, yeah, that you don't see
• 17:38
  Speaker 5: that often. But but the thing is COVID, after going
• 17:41
  Speaker 5: through that, we have seen diversification of supply chains sure
• 17:46
  Speaker 5: quite a bit. And I think, you know, that's that's
• 17:51
  Speaker 5: ultimately a good thing. I mean, trade is good, Global
• 17:55
  Speaker 5: trade is good, you know. Yeah, right, we don't have
• 17:59
  Speaker 5: the manpower, we don't have the resources as large as
• 18:02
  Speaker 5: the United States is to produce everything we desire, right,
• 18:06
  Speaker 5: but globally, with specialization you can get those things done.
• 18:11
  Speaker 5: And so there's there's I think very good evidence that
• 18:16
  Speaker 5: free trade is the thing that creates more wealth. That
• 18:22
  Speaker 5: being said, free trade is and it needs to be fair,
• 18:26
  Speaker 5: free trade, you know, so we'll just see how it
• 18:30
  Speaker 5: all plays out.
• 18:30
  Speaker 3: One last question before we go to break, and hopefully
• 18:32
  Speaker 3: we can get some questions when we come back. If
• 18:34
  Speaker 3: you want to control the conversation, you do that this morning.
• 18:36
  Speaker 3: Send over your questions on the text line three zero
• 18:38
  Speaker 3: four non three five five zero zero eight. Threes are
• 18:40
  Speaker 3: four non three five five zero zero eight. You can
• 18:42
  Speaker 3: also call in three zero four three four two eight
• 18:44
  Speaker 3: one three one three four two eight one three one
• 18:46
  Speaker 3: ask you this question. And this is kind of out
• 18:48
  Speaker 3: of left field a little bit, but people probably have
• 18:50
  Speaker 3: to deal with this from time to time. I was
• 18:51
  Speaker 3: in a situation, uh, maybe two weeks ago or something
• 18:54
  Speaker 3: like that where a guy that I know who I'm
• 18:57
  Speaker 3: friends with, but not great friends with, I have a
• 19:02
  Speaker 3: close acquaintanceship with, let's say out of the blue, and
• 19:06
  Speaker 3: when when we're talking on the phone about something else completely,
• 19:08
  Speaker 3: it's like, let me tell you something. I got a
• 19:09
  Speaker 3: great stock tip for you, Like this is not we've
• 19:12
  Speaker 3: never even have this disc like this is not something
• 19:14
  Speaker 3: we've ever discussed in our entire history together, right, and
• 19:17
  Speaker 3: this person is I would call wealthy. So we have
• 19:22
  Speaker 3: this conversation about this stock tip like at the end
• 19:24
  Speaker 3: of a conversation, I hang up and I'm like, well,
• 19:26
  Speaker 3: that was interesting, and I'm thinking I'm not gonna do
• 19:28
  Speaker 3: anything with that, you know, I mean, that's not my
• 19:30
  Speaker 3: type of thing. But have you ever had somebody call
• 19:33
  Speaker 3: you that that suddenly got what they thought was a
• 19:36
  Speaker 3: tip somewhere from like an insider from whatever it might be,
• 19:38
  Speaker 3: was like, I have this great move that we need
• 19:40
  Speaker 3: to do, and we need to do it right now.
• 19:41
  Speaker 3: Is that ever a problem? I mean, you see it
• 19:43
  Speaker 3: in TV or like sitcoms or something all the time,
• 19:45
  Speaker 3: But is there people that actually will pick up the
• 19:48
  Speaker 3: phone and call and you like, hey, my brother in
• 19:50
  Speaker 3: law said so and so, so and so I need
• 19:52
  Speaker 3: to allocate. Let's do it right now. And then then
• 19:54
  Speaker 3: suddenly they want to move a ton of money into
• 19:56
  Speaker 3: into a particular stock.
• 19:57
  Speaker 5: Yeah, that happens probably more than you think that it
• 19:59
  Speaker 5: really does. It does, Yeah, for sure. I was actually
• 20:03
  Speaker 5: myself on a on an airplane a year or so ago,
• 20:08
  Speaker 5: and this guy was telling everybody on the plane about
• 20:11
  Speaker 5: this stock that he had just bought and and uh,
• 20:14
  Speaker 5: and I took it down in my phone and watched it.
• 20:17
  Speaker 5: And you know, after about six months it was down
• 20:20
  Speaker 5: fifty percent, So I don't know. You know, hopefully he's
• 20:24
  Speaker 5: not on the same plane with the same group of
• 20:26
  Speaker 5: passengers if they took him up on it. But yeah,
• 20:30
  Speaker 5: usually when you hear things like that, it's somebody knows something,
• 20:35
  Speaker 5: which or they think they may they think they know something.
• 20:40
  Speaker 5: I've got a you know, a brother in law that
• 20:42
  Speaker 5: works at this company, and this is going on and
• 20:44
  Speaker 5: this is just going to be great. Well, look, if
• 20:46
  Speaker 5: you know about it, then the market knows about it.
• 20:50
  Speaker 5: The market's already priced that in. If you know about it,
• 20:53
  Speaker 5: you know, and if you have insider information, that is illegal.
• 20:58
  Speaker 3: Right, And that that was another question I was going
• 21:00
  Speaker 3: to have us like that. Where does that like if
• 21:01
  Speaker 3: somebody calls you to say, like if Martha Stewart called
• 21:03
  Speaker 3: you up and said, hey, I have a great move, right,
• 21:06
  Speaker 3: you might want to ask you a question, how.
• 21:07
  Speaker 6: Do you know?
• 21:08
  Speaker 5: Yeah? And I actually had that year. I mean it's
• 21:11
  Speaker 5: been probably ten fifteen years ago. I actually had somebody
• 21:16
  Speaker 5: out of the blue make a very large purchase of
• 21:20
  Speaker 5: a small company. Well it was such a large purchase,
• 21:24
  Speaker 5: and I don't mean millions, but you know, one hundred,
• 21:29
  Speaker 5: two hundred thousand dollars in a small company, and a
• 21:35
  Speaker 5: couple of days later the stock was up fifty percent. Like,
• 21:38
  Speaker 5: wait a second, well, it was such a large unusual
• 21:42
  Speaker 5: purchase for a company that size. The Securities and Exchange
• 21:46
  Speaker 5: Commission they watch blocks of stock trade and if it's unusual,
• 21:51
  Speaker 5: they investigate. And sure enough, they investigated this fella, and
• 21:55
  Speaker 5: he had been golfing with the CFO of the company
• 22:00
  Speaker 5: two days before earnings, and he had to forfeit. They didn't,
• 22:04
  Speaker 5: they didn't, you know, Martha Stewart him, but he had
• 22:06
  Speaker 5: to to not be prosecuted. He had to break the trade.
• 22:11
  Speaker 3: And if you're somebody that, like, if you're an elite business,
• 22:14
  Speaker 3: you should know better. But if you're somebody that's just
• 22:16
  Speaker 3: like a caddy and you're overhearing that conversation, you may
• 22:19
  Speaker 3: not even know what you're hearing is like proprietary and
• 22:22
  Speaker 3: would be wrong for you to move on. You know,
• 22:23
  Speaker 3: you might, oh I just heard this, Hey I need
• 22:25
  Speaker 3: to go. You know, I don't know much about stocks,
• 22:27
  Speaker 3: but I better go get this stock or whatever it
• 22:29
  Speaker 3: might be. I mean, you could make a mistake and
• 22:30
  Speaker 3: do that and not even know it. Sometimes, Yeah, not
• 22:33
  Speaker 3: that that's what everybody does no.
• 22:34
  Speaker 5: No, I mean usually it's not a mistake. Usually somebody
• 22:37
  Speaker 5: probably knows what they're doing in that level. But but
• 22:41
  Speaker 5: you know, the point is the market knows a lot
• 22:47
  Speaker 5: everything that is available to know legally, the marketers already
• 22:52
  Speaker 5: priced that in by the time you get that.
• 22:54
  Speaker 3: In, you got to be careful of people that have
• 22:55
  Speaker 3: the secret sauce. Yeah, yeah, the thing and the last thing.
• 22:59
  Speaker 3: And where I was kind of coming around with this
• 23:00
  Speaker 3: conversation as well. We talk about like TikTok to the
• 23:02
  Speaker 3: influencers and stuff all the time on here, and you know,
• 23:04
  Speaker 3: they always have these wild ideas on things that you
• 23:05
  Speaker 3: should do. And I was making the comparison for all
• 23:10
  Speaker 3: these people that are involved in like college sports that
• 23:12
  Speaker 3: always claim to have the inside track on stuff. So
• 23:15
  Speaker 3: if you follow somebody that always claims to have the
• 23:16
  Speaker 3: inside track, and objectively you don't know this, but objectively,
• 23:20
  Speaker 3: if you were look at it, they're absolutely complete full
• 23:22
  Speaker 3: of bs, like they never really know anything, right, But
• 23:24
  Speaker 3: you follow this person thinking maybe they do. And maybe
• 23:26
  Speaker 3: this person came out real early on in the search
• 23:29
  Speaker 3: for wvu's new head coach. Stand I have it on
• 23:31
  Speaker 3: good authority that rich Rodriguez is going to be the
• 23:33
  Speaker 3: next head coach of West Virginia. They don't really know anything. However,
• 23:36
  Speaker 3: you saw that, and later when Rodriguez is hired as
• 23:38
  Speaker 3: the head coach, you're like, oh, man, that guy really
• 23:40
  Speaker 3: has some juice, right, And so you start following that
• 23:42
  Speaker 3: guy thinking that they have jews when really all they
• 23:44
  Speaker 3: did was a head on a random occurrence or something right.
• 23:47
  Speaker 3: And I think that happens a lot with like these
• 23:49
  Speaker 3: TikTok influencers and stuff like that. They throw out so
• 23:52
  Speaker 3: many nets, they hit on one. You remember that one.
• 23:54
  Speaker 3: You're like, oh, well, that guy really knows what he's
• 23:56
  Speaker 3: talking about, and then you know you're broke.
• 23:58
  Speaker 5: Yeah, my son was. He watches that stuff all the
• 24:02
  Speaker 5: time and asks me about it. And just a couple
• 24:04
  Speaker 5: of days ago he was talking about this guy. He
• 24:08
  Speaker 5: twice a day he puts a buy and a selles
• 24:09
  Speaker 5: signal out on these options that people do, and you know,
• 24:13
  Speaker 5: here's his last trade. He made fifty percent on it
• 24:15
  Speaker 5: in twenty four hours. And you know all of these things.
• 24:18
  Speaker 5: And I was like, yeah, but where are his losses?
• 24:22
  Speaker 4: Right?
• 24:22
  Speaker 5: You know, where are the losses? And all of this.
• 24:24
  Speaker 5: He talks about this he is he putting these out
• 24:27
  Speaker 5: there before the trade happens, or just putting a bunch
• 24:30
  Speaker 5: of trades out and only highlighting the ones that worked.
• 24:33
  Speaker 5: Because you know, if you make fifty percent and then
• 24:36
  Speaker 5: you make another fifty percent and then you lose sixty percent,
• 24:40
  Speaker 5: you really have done nothing. Yeah, you know, you're playing
• 24:44
  Speaker 5: a high risk reward game, not really investing at that point,
• 24:52
  Speaker 5: and you're going to hit some if you play that game.
• 24:56
  Speaker 5: The question is, you know, are your losses going to
• 24:59
  Speaker 5: be so a that it mitigates the games that.
• 25:01
  Speaker 3: Are the quantifyingly useful? Like what is what you're doing useful?
• 25:05
  Speaker 3: And if you're just randomly hitting, it's not. It's not
• 25:06
  Speaker 3: helping anything.
• 25:08
  Speaker 5: No, no, and and but it is a big, powerful
• 25:13
  Speaker 5: emotional play right that. Hey, this guy has a secret
• 25:16
  Speaker 5: way to do it. Everybody wants a short cut, and
• 25:19
  Speaker 5: they're really I've never discovered a short cut. You know
• 25:24
  Speaker 5: what works is earn money by serving people live on
• 25:29
  Speaker 5: less than you make, and invest the balance in productive companies.
• 25:33
  Speaker 5: Repeat that process. You do that over time, you'll create wealth.
• 25:37
  Speaker 4: There's no zempic for finances.
• 25:39
  Speaker 5: I haven't found.
• 25:40
  Speaker 3: Yeah, no zimic for finances. You gotta do it. The
• 25:42
  Speaker 3: hard way. Still, you gotta you gotta work it. Let's
• 25:44
  Speaker 3: go ahead and do this. We're late for the break.
• 25:45
  Speaker 3: Let's go ahead and take a break, hoping for some
• 25:47
  Speaker 3: interaction from you. If you want to give us a
• 25:49
  Speaker 3: call before we get out of here. We'll have about
• 25:50
  Speaker 3: ten minutes left when they come by. Three zero four
• 25:52
  Speaker 3: three four two eight one three one three four two
• 25:54
  Speaker 3: eight one three one. You can text over your questions
• 25:55
  Speaker 3: to three zero four nine three five five zero zero eight.
• 25:58
  Speaker 3: John ber Dad is here from Fourth Avenue Finance. So
• 26:00
  Speaker 3: online it's Fourth Avenue Financial dot com. You spell out
• 26:02
  Speaker 3: the whole thing Fourth Avenue Financial dot com. Also, you
• 26:04
  Speaker 3: can do that search on Facebook, and you might want
• 26:06
  Speaker 3: to do that pretty soon. When we come back, I'm
• 26:07
  Speaker 3: going to have John talk a little bit about his
• 26:09
  Speaker 3: Saturday meeting that's coming up this weekend. And if you
• 26:12
  Speaker 3: like the Facebook page, you can be kept up to
• 26:13
  Speaker 3: date whenever those take place. We'll take a break and
• 26:15
  Speaker 3: be back right after this. You're listening to retire Right Radio.
• 26:18
  Speaker 3: I'm Dell Cooper. That's John Bredett from Fourth Avenue Financial
• 26:20
  Speaker 3: on five ADWCHS, the Voice of Charleston. Retire Right Radio
• 26:24
  Speaker 3: was sponsored by Fourth Avenue Financial, which is solo responsible
• 26:26
  Speaker 3: for its content. Security is offered through JW CALL Financial
• 26:29
  Speaker 3: member Fenricipic. Investment advice offered through JW CO Advisors. Fourth
• 26:33
  Speaker 3: Avenue Financial, jw CLL Financial, and JW CO Advisors are
• 26:36
  Speaker 3: unaffiliated entities. The opinions expressed by John Bredet should not
• 26:39
  Speaker 3: be construed as specific investment, legal, or tax advice. All
• 26:42
  Speaker 3: economic and performance information is historical and not indicative of
• 26:45
  Speaker 3: future results. Investing may involve risk of loss of principle.
• 26:49
  Speaker 3: Any tax advice on this show is not intended to
• 26:51
  Speaker 3: be used by any person for the purpose of avoiding
• 26:53
  Speaker 3: US federal or state tax penalties that may be imposed
• 26:56
  Speaker 3: on such a person, and each listener should seek advice
• 26:59
  Speaker 3: from their tax advisor or legal console on topics that
• 27:02
  Speaker 3: arise from the show. John Burnett is not providing legal
• 27:04
  Speaker 3: or tax advice. Nothing should be construed as solicitation of
• 27:07
  Speaker 3: an offer to buy securities. This program is sponsored by
• 27:10
  Speaker 3: Fourth Avenue Financial, which is solely responsible for its content.
• 27:14
  Speaker 7: The start of a new year means even more savings
• 27:16
  Speaker 7: at Walker Chevrolet in Nitro. Now You're not gonna find
• 27:19
  Speaker 7: better deals on four wheel drives anywhere in the Canaw
• 27:22
  Speaker 7: Valley this winter than at Walker's Chevrolet. The lotted Walker
• 27:25
  Speaker 7: is stacked with inventory right now to get you ready
• 27:28
  Speaker 7: for that snowy West Virginia weather. From Silverado to Tahoe Blazer, Equinox,
• 27:33
  Speaker 7: Trail Blazer, Colorado.
• 27:34
  Speaker 4: Man.
• 27:35
  Speaker 7: Walker has got them all, and you know you're gonna
• 27:37
  Speaker 7: get the best deal possible on those four by four,
• 27:39
  Speaker 7: said Walker, because Gene and Ryan built their business the
• 27:42
  Speaker 7: old fashioned way by making friends. There are no gimmicker
• 27:45
  Speaker 7: games here, just honest, fair deals. And if you've got
• 27:47
  Speaker 7: an old car you want to get rid of, Walker
• 27:49
  Speaker 7: is still buying cars too. All bakes and models are welcome,
• 27:52
  Speaker 7: and you're gonna get pay top dollar for it, even
• 27:54
  Speaker 7: if you plan to buy somewhere else. But don't wait
• 27:57
  Speaker 7: until those winter weather advisories go up and you're stuck
• 27:59
  Speaker 7: in the house. Get that new four wheel drive truck
• 28:02
  Speaker 7: or SUV today at Walker Chevrolet in the shadow of
• 28:05
  Speaker 7: the Interstate Bridge, just off a Nitro exit of I
• 28:07
  Speaker 7: sixty four. Walker Chevrolet, making friends, one deal at a time.
• 28:13
  Speaker 2: This is Retire Right Radio with John Burdett from Fourth
• 28:17
  Speaker 2: Avenue Financial, taking your calls at three oh four, three four,
• 28:21
  Speaker 2: five fifty eight fifty eight or text on three oh
• 28:24
  Speaker 2: four nine three five fifty oh eight.
• 28:35
  Speaker 3: Ten minutes aloft if you're listening to Retirement Radio in
• 28:38
  Speaker 3: five DHS and Boy and Charleston. Really looking forward to
• 28:41
  Speaker 3: a normal week. I know that we're supposed to get
• 28:43
  Speaker 3: some more weather this week and we might have some
• 28:45
  Speaker 3: stuff that comes in. But last year, from going from
• 28:48
  Speaker 3: twenty three to twenty four, I was really highlighting that
• 28:51
  Speaker 3: first Monday of January as being going to get started, tons.
• 28:54
  Speaker 4: Of stuff to do.
• 28:55
  Speaker 3: You're going to put my head down and really work.
• 28:56
  Speaker 3: And I got really sick. And so like my year
• 28:58
  Speaker 3: got off to a really start because it took me
• 29:01
  Speaker 3: like two weeks to get over how sick I was
• 29:02
  Speaker 3: at the beginning.
• 29:03
  Speaker 4: Of the year.
• 29:03
  Speaker 3: Well, this year, feel great, ready to go, and we
• 29:05
  Speaker 3: get a huge snowstorm and like nobody's at work and
• 29:07
  Speaker 3: then you're doing all this different stuff. It's just hurry
• 29:10
  Speaker 3: up and stop, is right. It's felt like and I
• 29:12
  Speaker 3: can't wait to Like today, I'm like, Okay, let's get started.
• 29:14
  Speaker 4: It's ready to do some work. Yeah.
• 29:16
  Speaker 5: My wife for Christmas, she gave me a it's basically
• 29:19
  Speaker 5: just a notebook, a little organizer journal and you know,
• 29:24
  Speaker 5: I spent last night before I went to sleep, you know,
• 29:27
  Speaker 5: writing out what I'm going to do for the day
• 29:29
  Speaker 5: and that sort of thing. So, yeah, trying to the
• 29:32
  Speaker 5: new year, trying to turn over a little more focus.
• 29:35
  Speaker 3: I guess I ended up coming in. I worked Saturday morning.
• 29:38
  Speaker 3: I ended up coming in two more times. One time
• 29:40
  Speaker 3: the weather caught up with us and I needed to
• 29:42
  Speaker 3: shovel off the satellites and stuff like that. And then
• 29:44
  Speaker 3: another time I came in and I just found myself
• 29:46
  Speaker 3: like suddenly like just wanting to work, Like I just
• 29:51
  Speaker 3: there was so much stuff because of last week. I
• 29:53
  Speaker 3: just wanted to get started and getting in on it.
• 29:55
  Speaker 3: One thing I wanted to make sure that we brought
• 29:57
  Speaker 3: up before we got out of here. We've been teasing
• 29:59
  Speaker 3: this for about a month, so at least where you've
• 30:01
  Speaker 3: been talking about doing these uh to do meetings on
• 30:04
  Speaker 3: Saturdays where you have like a kind of an informal
• 30:06
  Speaker 3: conversation among folks to meet in South Charles. And and that's
• 30:10
  Speaker 3: that's this weekend.
• 30:11
  Speaker 4: Yes, it is.
• 30:11
  Speaker 5: It's the Saturday ten am. You know, donuts, coffee, We'll
• 30:18
  Speaker 5: have some some snacks there for us and uh go
• 30:21
  Speaker 5: to the Facebook page there's an event linked to my
• 30:24
  Speaker 5: Facebook page and also uh last night boosted it, so
• 30:29
  Speaker 5: maybe you'll see it in your feeds if you're if
• 30:32
  Speaker 5: you're on Facebook much, but if you wouldn't mark that
• 30:36
  Speaker 5: you're interested to attend the event. So I know, how many,
• 30:39
  Speaker 5: how many donuts to buy?
• 30:41
  Speaker 4: That's a good idea.
• 30:44
  Speaker 5: Got to make sure you get you know, somebody, somebody's
• 30:47
  Speaker 5: gotta get enough donuts here. But it'll be it'll be
• 30:52
  Speaker 5: just just an informal meeting. We're not going to have
• 30:54
  Speaker 5: a set agenda. It's just getting around talking about finances,
• 30:58
  Speaker 5: asking questions, getting to know one other. That sort of thing.
• 31:01
  Speaker 5: A very kind of a low entry a low bar
• 31:05
  Speaker 5: of entry there. If you have questions or concerns about
• 31:08
  Speaker 5: finances or anything going on in the in the market.
• 31:12
  Speaker 5: It's just a good place to get together with folks
• 31:14
  Speaker 5: and talk about it.
• 31:14
  Speaker 3: Not necessarily a place to bring your accordion folder full
• 31:16
  Speaker 3: of your receipts and stuff.
• 31:17
  Speaker 5: That's not no, no, no, not at all. This is
• 31:20
  Speaker 5: just a very low key kind of a money session
• 31:28
  Speaker 5: that you know, we all get to know one another
• 31:30
  Speaker 5: and talk about it.
• 31:31
  Speaker 3: I've really and I've mentioned this on the show before,
• 31:33
  Speaker 3: but I love the idea of doing things like this
• 31:35
  Speaker 3: because it seems like that, I mean, I don't know
• 31:39
  Speaker 3: everything about everybody, but from my personal experience that I've
• 31:42
  Speaker 3: been adjacently aware of, like little breakout meetings and things
• 31:46
  Speaker 3: like this throughout the course of my life, and it
• 31:47
  Speaker 3: seems like in the last i don't know, fifteen or
• 31:50
  Speaker 3: twenty years, there's been less of these things, like less
• 31:52
  Speaker 3: like little. When I lived in Michigan, there was all
• 31:55
  Speaker 3: of the guys that knew anything about anything. All the
• 31:57
  Speaker 3: guys and girls and knew anyth about anything met at
• 31:58
  Speaker 3: this little cafe called the busy Bee Cafe every single
• 32:01
  Speaker 3: morning at like seven o'clock, and that's where they.
• 32:03
  Speaker 4: Held court basically.
• 32:04
  Speaker 3: But it was similar to its local business owners and
• 32:06
  Speaker 3: different things like that. But they got together sometimes they
• 32:08
  Speaker 3: talked about, you know, what a great parade they just
• 32:10
  Speaker 3: went through town. Sometimes it was like serious issues like
• 32:12
  Speaker 3: things that they had to tackle. But the things that
• 32:15
  Speaker 3: would be solved sort of in that little meeting that
• 32:17
  Speaker 3: wasn't necessarily official in any way, and the transference of
• 32:20
  Speaker 3: information and how they kind of figured it was very useful,
• 32:23
  Speaker 3: you know, And I would occasionally I was a business owner,
• 32:25
  Speaker 3: so I would occasional view over there and have some
• 32:27
  Speaker 3: coffee with them and things like that, and a lot
• 32:28
  Speaker 3: of productive things got done just in a casual conversation.
• 32:31
  Speaker 4: And I think this is gonna be much like that.
• 32:33
  Speaker 5: Well, it's even the same with conferences that I go to.
• 32:36
  Speaker 5: You know, they have set agendas and workshops and all,
• 32:39
  Speaker 5: but it's really after that's over, setting around with folks
• 32:42
  Speaker 5: that are doing in the trenches with you, that's where
• 32:45
  Speaker 5: the ideas really come from. You know, how are you
• 32:48
  Speaker 5: doing this? How is this working for you? And you know,
• 32:51
  Speaker 5: I can put on a seminar, I can come up
• 32:53
  Speaker 5: with a topic and I can make slides and we
• 32:57
  Speaker 5: can talk about them, but that might not be what
• 33:00
  Speaker 5: you have on your mind. You know, this way, we
• 33:03
  Speaker 5: can talk about whatever it is you wish. You know,
• 33:07
  Speaker 5: if you have a question, you have a concern, you
• 33:09
  Speaker 5: know we're not going to dive in deep and solve
• 33:12
  Speaker 5: all your problems, but you know we'll be able to
• 33:15
  Speaker 5: talk about it broadly and get some direction around it maybe.
• 33:18
  Speaker 4: And with you as the expert.
• 33:19
  Speaker 3: And if it's something that you're comfortable with talking about
• 33:21
  Speaker 3: in an open environment with other people, they're crowdsourcing you know,
• 33:25
  Speaker 3: issues and problems and things like that. Like oftentimes there's
• 33:27
  Speaker 3: an official route that you have to take that John
• 33:29
  Speaker 3: can give you instruction, and then other people be like hey,
• 33:32
  Speaker 3: and you know, they have some experience that they had
• 33:35
  Speaker 3: in their life that might give you some insight or
• 33:36
  Speaker 3: something that can help out. I mean having people that
• 33:38
  Speaker 3: are sort of like minded having that kind of discussion,
• 33:40
  Speaker 3: A lot of good things can come from that.
• 33:42
  Speaker 5: Yeah, and I hope to do this about once a month.
• 33:45
  Speaker 5: This is the first time we're trying it out, but
• 33:47
  Speaker 5: if we get a good response, you know, we have
• 33:50
  Speaker 5: the space of their vintage and vine so it's available
• 33:54
  Speaker 5: and once a month it might be good to have
• 33:57
  Speaker 5: that happen. I'm going to try to do more of
• 33:59
  Speaker 5: that this year. Your just just some get togethers uh
• 34:04
  Speaker 5: post COVID, I haven't done much of that, and I
• 34:07
  Speaker 5: need to get back in the swing of things. I'm
• 34:09
  Speaker 5: actually talking to National Travel right now, which is right
• 34:12
  Speaker 5: next door to my office, about doing a travel uh
• 34:18
  Speaker 5: themed event.
• 34:19
  Speaker 4: What idea?
• 34:20
  Speaker 5: Yeah, you know, you bring people together and they can
• 34:22
  Speaker 5: give travel tips, talk about uh uh you know, trips
• 34:25
  Speaker 5: you might want to take in your retirement and and
• 34:28
  Speaker 5: you know how much how much they cost.
• 34:30
  Speaker 3: And because if you know how, if you know what
• 34:32
  Speaker 3: you're doing, you can't save a lot of money doing that.
• 34:34
  Speaker 3: I mean those kind of go hand in hand.
• 34:35
  Speaker 5: Yeah, And and a lot of times being next to
• 34:37
  Speaker 5: the travel agency, I'll have clients come in and then
• 34:41
  Speaker 5: their next appointment is with First they come and see
• 34:44
  Speaker 5: if they have money to travel, and then they go travel,
• 34:46
  Speaker 5: you know. And and that's a big, u a big
• 34:50
  Speaker 5: thing for folks like to do when they when they
• 34:53
  Speaker 5: certainly near retirement, early retirement, a lot of folks will
• 34:56
  Speaker 5: that's on their bucket list, you know, travel and do
• 34:59
  Speaker 5: certain things. So I've did one of those events years
• 35:02
  Speaker 5: ago pre COVID that was pretty successful. So we're talking
• 35:06
  Speaker 5: about pulling one of those off in the next couple
• 35:08
  Speaker 5: of months too.
• 35:09
  Speaker 3: That's going to be dollars in doughnuts. That's coming up
• 35:11
  Speaker 3: with Jombre Data Fourth Avenue Financially. You can go to
• 35:13
  Speaker 3: his Facebook page at Fourth Avenue Financial, Fourth Avenue Financial.
• 35:16
  Speaker 3: You can click on the event, say that you want
• 35:18
  Speaker 3: to go to the events or John knows how many
• 35:19
  Speaker 3: donuts to get and also an idea of how many
• 35:22
  Speaker 3: folks you're going to come by, and just a good
• 35:24
  Speaker 3: opportunity to get by and talk to some like minded
• 35:26
  Speaker 3: folks and to have a little fellowship. And you know,
• 35:28
  Speaker 3: it's funny that not really funny. But I remember doing
• 35:31
  Speaker 3: the show before pre COVID. We've been doing this for
• 35:33
  Speaker 3: a while now, and how long ago was COVID? Wow,
• 35:36
  Speaker 3: that's just incredible when you think about it, right, But
• 35:38
  Speaker 3: I remember us talking about how you were going to
• 35:40
  Speaker 3: do more of these events and get out and do
• 35:42
  Speaker 3: more and invite more people over do that, and it's like,
• 35:44
  Speaker 3: you know, COVID happens, and it takes this long just
• 35:46
  Speaker 3: to get you know, kind of started back up on
• 35:48
  Speaker 3: all that. You know, it's not just flipping a switch.
• 35:50
  Speaker 3: You know, it takes a while to do it. Pretty
• 35:52
  Speaker 3: incredible stuff. Jobred debt for Fourth Avenue Financial. Let me
• 35:55
  Speaker 3: make sure to get the information out to you one
• 35:56
  Speaker 3: more time. Fourth Avenue Financial will be found online. It's
• 35:58
  Speaker 3: Fourth Avenue Financial dot com. Fourth Avenue Financial dot Com.
• 36:01
  Speaker 3: You can also find the page on Facebook and you
• 36:03
  Speaker 3: spell out the whole thing Fourth Avenue Financial.
• 36:06
  Speaker 4: On Facebook as well. You can like the page.
• 36:07
  Speaker 3: You can be kept up to date on all the
• 36:09
  Speaker 3: goings on, including when there's going to be dollars to nonuts.
• 36:12
  Speaker 3: What's the location of that again, Advantage and Vines is
• 36:14
  Speaker 3: Vintage and Vine.
• 36:15
  Speaker 5: That's in South Charleston. It's six oh nine D Street,
• 36:18
  Speaker 5: right near the mound.
• 36:19
  Speaker 3: So that's a new location down there, that's behind D Street.
• 36:23
  Speaker 3: So you can go to the Facebook page, let John
• 36:24
  Speaker 3: know that you're going to go Fourth Avenue Financial, click
• 36:26
  Speaker 3: on the link for the dollars of doughnuts to let
• 36:28
  Speaker 3: them know you're interested and that you'll be sliding by
• 36:31
  Speaker 3: over there on Saturday. And just like the page in
• 36:34
  Speaker 3: general because you'll get all kinds of great information on there.
• 36:36
  Speaker 3: The phone number fo Fourth Avenue and I try to
• 36:39
  Speaker 3: get the words out in order. The phone number for
• 36:42
  Speaker 3: Fourth Avenue Financial. I guess it is a little bit
• 36:43
  Speaker 3: of a literation. Three zero four seven four six seven
• 36:46
  Speaker 3: done seven seven three zero four seven four six seven
• 36:48
  Speaker 3: done seven seven Located downtown Charles and right across.
• 36:50
  Speaker 4: From National Travel, as we just talked about a moment ago.
• 36:53
  Speaker 3: Well, John, thanks a bunch of your time again today
• 36:55
  Speaker 3: as always, Uh, it's nice to get back live and
• 36:58
  Speaker 3: hopefully we can hope we don't get the ton of
• 37:01
  Speaker 3: snow this week. Cold is okay or snow but both
• 37:04
  Speaker 3: of them was a little much.
• 37:05
  Speaker 5: Yeah, I can't. I can't do another cruise this week,
• 37:08
  Speaker 5: So I can't.
• 37:09
  Speaker 3: If you are here taking me with you best, John,
• 37:12
  Speaker 3: We're debt with Fourth Avenue Financial every Monday.
• 37:14
  Speaker 4: Right here, I'm retire right Radio at eight twenty.
• 37:16
  Speaker 3: You can tune in next week and you can find
• 37:17
  Speaker 3: the podcast over at WCHS network dot com slash retire
• 37:20
  Speaker 3: right if you want to find it there. Thank you
• 37:22
  Speaker 3: so much for tuning in today, John. We'll be back
• 37:24
  Speaker 3: next week and Dave Violence coming up next with five
• 37:26
  Speaker 3: eighty Live TJ and Dave comes up after that on
• 37:29
  Speaker 3: talk line, and then I'll be back this afternoon at
• 37:31
  Speaker 3: three o'clock with a weekly one hotline. Have a great
• 37:33
  Speaker 3: day everyone on five eight w CHS.
• 37:43
  Speaker 2: Five eight WHS al got six point five on Charleston
• 37:46
  Speaker 2: one O four point five Cross Legs WVRC Media Station.
• 37:51
  Speaker 2: We're proud to live here too,