Latest / WCHS Network Podcasts / 08/03/2026 Retire Right Radio with John Burdette

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08/03/2026 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 it's
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Speaker 1: employees or WVRC Media. Retire Right Radio is on the air.
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Speaker 1: John Burdett from Fourth Avenue Financial is here each week
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Speaker 1: to answer your questions about financial planning, investing, and building
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Speaker 1: the retirement you deserve. Fine Fourth Avenue Financial in downtown
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Speaker 1: Charleston at one and seventy Court Street, or online at
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Speaker 1: Fourth Avenue Financial dot com. Call three zero four three
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Speaker 1: four five fifty eight fifty eight or text three zero
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Speaker 1: four nine three five five zero zero eight to join
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Speaker 1: the conversation. Now, let's go live to the studio with
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Speaker 1: John Burdett.
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Speaker 2: A twenty two on five eight WCCHS, the Voice of Charleston.
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Speaker 2: Good Morning, Jeff Jenkins and for Dale Cooper this morning
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Speaker 2: and John Burdett is on the phone line today. John,
0:56
Speaker 2: how you doing on good morning?
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Speaker 3: I'm doing great. How are you?
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Speaker 2: I'm doing great? Good good to talk to you this morning.
1:04
Speaker 2: It's a Monday. It's a Monday, right, it is Monday.
1:08
Speaker 3: Yeah, I have rainy day and Monday, so there you go.
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Speaker 2: Hey, John, I was thinking, you know, last week Thursday
1:15
Speaker 2: was a bad day on the market. Friday was a
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Speaker 2: little better, right, did you get back some of what
1:22
Speaker 2: was lost on Thursday? So where are we at as
1:24
Speaker 2: we as we begin the week here?
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Speaker 3: Well, this morning, it looks like futures are pointing to
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Speaker 3: a pretty strong opening. Oil prices are down again. I
1:36
Speaker 3: guess the war that was on last week might be
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Speaker 3: off this week. But beyond that, earnings just have really
1:47
Speaker 3: been great this quarter. So that's kind of pushing the
1:50
Speaker 3: market up. I mean, we're at least with the dow.
1:54
Speaker 3: If if the futures you know, pull through today and
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Speaker 3: big shape up like it's looking, you know, we're we're
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Speaker 3: right at record highs again.
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Speaker 2: Well, I mean that's that's good. But there's still so
2:11
Speaker 2: much uncertainty, right, I mean the news overnight or there. Yeah,
2:16
Speaker 2: go ahead, I'm sorry.
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Speaker 3: Yeah, there's definitely uncertainty, but it's almost as if the
2:22
Speaker 3: market is shrugging a lot of it off. You know,
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Speaker 3: earnings this quarter are are going to be up over
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Speaker 3: thirty percent, and that's not just one company, that's just
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Speaker 3: across the board, and you know that supports higher stock prices,
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Speaker 3: those earnings, and that's what really matters when you're when
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Speaker 3: you're buying a company, it's not what's in the newspaper,
2:47
Speaker 3: it's what the earnings actually are earning. You know, the
2:51
Speaker 3: companies are actually earning and and right now those those
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Speaker 3: corporate earnings are are strong, and the market is just
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Speaker 3: shrugging all this all this other news off.
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Speaker 2: I wonder how long they can continue to do that,
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Speaker 2: or maybe maybe it's just maybe to the market is
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Speaker 2: just kind of talk and noise, which it kind of
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Speaker 2: is in a way.
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Speaker 3: I guess, yeah, I guess, I guess in a way
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Speaker 3: it is. You know, you saw some big tech earnings
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Speaker 3: that all the earnings of the companies were good, but
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Speaker 3: you are seeing a little bit of questioning I guess,
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Speaker 3: from from market participants about the spending on AI that
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Speaker 3: these large companies are making. So you know, they're they're
3:41
Speaker 3: asking more questions as far as when will these investments
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Speaker 3: pay off? What what type of profit potential might these
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Speaker 3: investments hold for these companies in the future. Is this
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Speaker 3: money being invested you know, wisely and efficiently? And I
4:00
Speaker 3: can say it's there's a trillion dollars or so going
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Speaker 3: to be spent on on this type of technology over
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Speaker 3: the next year and you know, the market wants to
4:12
Speaker 3: know the market participants, people buying the shares, want to
4:16
Speaker 3: know what will be the fruits of those investments. And
4:22
Speaker 3: so there's a little more uh, a keen eye on
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Speaker 3: looking at things like that, which is a healthy thing
4:28
Speaker 3: that helps you, you know, ensure that the prices are
4:34
Speaker 3: not too elevated. It's it's good to have a little
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Speaker 3: bit of skepticism, and if it's all euphoria, then people
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Speaker 3: aren't as cautious.
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Speaker 2: Well, that is certainly all the rage though, AI. I mean,
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Speaker 2: you just hear it. It's just in everything, right, I mean,
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Speaker 2: you just hear these And what's what's surprising to me, John,
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Speaker 2: is that you know, just for example, here in West Virginia,
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Speaker 2: you've got a couple of utilities that are going to
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Speaker 2: build power plants, natural gas power power plants to fuel
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Speaker 2: directly fuel AI. But those plants won't be done for
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Speaker 2: four or five years. And the AI is they're willing
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Speaker 2: to wait on that, which I think is this kind
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Speaker 2: of interesting.
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Speaker 3: Yeah, I mean that tells you that the the companies,
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Speaker 3: the people making these investments, they're certainly doing it with
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Speaker 3: the idea that it is a long term play and
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Speaker 3: a real shift on the way business is going to
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Speaker 3: be done rather than a passing fad. Of course, time
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Speaker 3: will tell you know how much of it is, you know,
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Speaker 3: kind of timeous, kind of thinking versus reality. But but
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Speaker 3: you know, when you're making long term investments like that,
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Speaker 3: somebody has some pretty good belief and what what the
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Speaker 3: future may hold.
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Speaker 2: But it's just like you say, and fourth avenue, financial
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Speaker 2: and in the financial planning, diversification, Uh, preparing for ups
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Speaker 2: and downs, all of that is so very key in
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Speaker 2: all of this.
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Speaker 3: Yes, and it's and it's it's wise not to get
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Speaker 3: caught up in the Uh. Sometimes you when an area
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Speaker 3: gets hot like AI, everybody talks about it. You know,
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Speaker 3: your buddies at work talk about it and how their
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Speaker 3: investments are doing in relation to that. And uh, it's
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Speaker 3: a good idea to diversified and and not kind of
6:45
Speaker 3: fall victim to that fear of missing out. You know,
6:48
Speaker 3: if you're diversified, you're going to own pieces of all
6:51
Speaker 3: of these things. And and you're also going to spread
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Speaker 3: your risk out across all sectors of the economy, which
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Speaker 3: if you're looking looking for long term durability of a portfolio,
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Speaker 3: if you're looking for a portfolio that you could draw
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Speaker 3: a retirement income off of. You can't have those wild
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Speaker 3: swings that concentration in one sector can bring. You know,
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Speaker 3: it's worked the last several years because those stocks have
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Speaker 3: been so hot, but inevitably when the tide shifts, you know,
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Speaker 3: then you get into this emotional rollercoaster like, oh no,
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Speaker 3: should I get out? And then you get out? Should
7:34
Speaker 3: you get back in? And then it leads to other
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Speaker 3: types of thinking, like looking at the market as a whole,
7:42
Speaker 3: as a switch I should be in or I should
7:45
Speaker 3: be out, And then it becomes a guessing game that
7:48
Speaker 3: nobody can win. And that's what happens when you get
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Speaker 3: tied up into the emotion of those decisions, and you know,
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Speaker 3: staying diversified, staying focused on what your individual goals are,
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Speaker 3: that's really how you need to approach it if you're
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Speaker 3: if you're trying to build something durable to last throughout
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Speaker 3: your retirement life.
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Speaker 2: John Bredet's with us Fourth Avenue Financial like he is
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Speaker 2: every Monday here on five eight wuchs The Voice of
8:16
Speaker 2: Charleston eight thirty, Jeff Jenkins filling in for Dale Cooper,
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Speaker 2: and John's on the phone today. John, one of your
8:22
Speaker 2: commercials that you run here very effective where you say,
8:26
Speaker 2: you know that retirement isn't the end, it's really the beginning.
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Speaker 2: And that's that's that's that's a philosophy, right, and that's
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Speaker 2: that's something to prepare for. Add a little bit of that,
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Speaker 2: Add a little bit to that if you.
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Speaker 3: Could, yes, I mean, you know people sometimes spend twenty
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Speaker 3: thirty years and more in retirement. That's a that's a
8:51
Speaker 3: big chunk of chunk of life. So it's certainly not
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Speaker 3: not an endpoint. And it's something that if you plan properly,
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Speaker 3: you can create a life for yourself that you know,
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Speaker 3: when you have the time to fulfill the dreams that
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Speaker 3: you have for yourself if you do proper planning. And
9:14
Speaker 3: some of that is clear goal making. You know, if
9:17
Speaker 3: if you know, maybe one day you'd like to retire
9:22
Speaker 3: on the beach or a beach community or something like that,
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Speaker 3: that doesn't just happen. You have to think about it,
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Speaker 3: plan for it, set that as a goal as and
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Speaker 3: work towards it. You know, there are all kinds of possibilities,
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Speaker 3: but you have to identify the things that are important
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Speaker 3: to you and then say, okay, what do I need
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Speaker 3: to do today to make this a reality at some
9:46
Speaker 3: point in the future. And I think that's that's you know,
9:51
Speaker 3: everybody can have a have a dream, but until you
9:54
Speaker 3: actually start putting things in action, that's all it is.
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Speaker 3: It won't become a reality. And so we can help
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Speaker 3: folks sit down, identify and come up with the path
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Speaker 3: forward and the discipline. We can help bring the discipline
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Speaker 3: to that process. So those dreams that you have do
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Speaker 3: comer reality.
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Speaker 2: And John, you can do that. Say someone's been working
10:20
Speaker 2: fifteen years or twenty years or twenty five years, you
10:23
Speaker 2: can kind of help them, you can pick up that
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Speaker 2: plan whatever they've maybe done so far, you can kind
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Speaker 2: of you know, you would welcome them to get with
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Speaker 2: you to kind of map out the rest of that
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Speaker 2: work life and into retirement.
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Speaker 4: Oh.
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Speaker 3: Absolutely, it doesn't really matter where you are. You know,
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Speaker 3: everybody has a life that's happened. It's taking a good
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Speaker 3: inventory of where you are so you have a clear
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Speaker 3: understanding and then and then from there deciding the best
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Speaker 3: path forward. You know, certainly the younger you start, the
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Speaker 3: more opportunity you will have in the future because you
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Speaker 3: have a longer time to plan for that longer time
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Speaker 3: for your money to compound and work for you. But
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Speaker 3: that doesn't mean that if you're you know, right at
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Speaker 3: retirements doorstep, that you can't make decisions that are beneficial
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Speaker 3: to you, that you can't still have goals that you
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Speaker 3: want to achieve. You know, you have to just be
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Speaker 3: very clear with where you are and where you want
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Speaker 3: to go, so you can make plans and sometimes you know,
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Speaker 3: it's not fulfilling the maybe the dream completely, but moving
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Speaker 3: in the right direction, you know, giving you confidence that
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Speaker 3: you're moving in the right direction. That is that's important,
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Speaker 3: especially in retirement. You know, a lot of times, particularly
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Speaker 3: on the show here, we talk about things that aren't
11:59
Speaker 3: really it's not really the math. It's the psychology, you know,
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Speaker 3: it's the psychology of thinking about, Okay, I'm retiring, I'm
12:12
Speaker 3: no longer working now this money has to last. That
12:15
Speaker 3: introduces a lot of anxiety, a lot of concern, even fear,
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Speaker 3: which leads to emotional decision making. And emotional decision making
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Speaker 3: is really a dangerous thing to a portfolio. It's like
12:32
Speaker 3: you say, you end up in that cycle of you know,
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Speaker 3: I need to get out of the market or I
12:40
Speaker 3: need to get into the market, rather than having that
12:43
Speaker 3: long term goal and long term plan in place. And
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Speaker 3: when you start doing that the in and out, treating
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Speaker 3: the market like a like a light switch, it's inevitable
12:57
Speaker 3: that that the bad decisions get made. Anytime you make
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Speaker 3: a decision from an emotional standpoint, you run that risk.
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Speaker 2: So if you so to avoid that again, you need
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Speaker 2: to be what well planned, diversify I'm be able to
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Speaker 2: handle ups and downs.
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Speaker 3: Yes, and and understand what you're working towards and understand
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Speaker 3: why when you build that portfolio, why is it built
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Speaker 3: this way? You know, clients of mind, they don't need
13:32
Speaker 3: to be experts in every aspect of the market, but
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Speaker 3: certainly it's valuable to them, and it's valuable to me
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Speaker 3: as an advisor if there's some level of based understanding
13:43
Speaker 3: of why we're doing the things we are. And that's
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Speaker 3: really part of my process is making sure that one
13:50
Speaker 3: you're comfortable in two you understand why not just I'm
13:53
Speaker 3: making this recommendation, but why I'm making this recommendation to you,
13:58
Speaker 3: how it works for your plan, and what your expectations
14:01
Speaker 3: should be and what the you know, what the possibilities
14:05
Speaker 3: are historically. And once you have that level of understanding,
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Speaker 3: you're much less likely to make those emotional decision making mistakes.
14:20
Speaker 2: It's a thirty six on five eight se just a
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Speaker 2: voice of Charleston John Bradetworth Avenue Financial with us this
14:25
Speaker 2: morning when I and when I co host the show here,
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Speaker 2: I like to give John a couple of scenarios here,
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Speaker 2: all right, So let me give you a scenario John, okay,
14:34
Speaker 2: and you see how it goes here. So say that
14:37
Speaker 2: you've you know, you've had a mortgage for twenty five years.
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Speaker 2: You've paid off that mortgage. You've been faithful, you've paid it.
14:43
Speaker 2: It's you know, you haven't missed the payment. You have
14:46
Speaker 2: paid that mortgage, and the mortgage is paid off. Now
14:50
Speaker 2: you're still working, you've got to pay for a home,
14:52
Speaker 2: and you've got this kind of additional income right because
14:57
Speaker 2: you have been faithful in paying all you know, in
14:59
Speaker 2: paying that mortgage every month. So now there's this block
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Speaker 2: of money you know where you know, and you know,
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Speaker 2: what are some of the ideas of what you know
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Speaker 2: it's there? What what should be done with I guess I'm
15:13
Speaker 2: asking what are the scenarios or what are some of
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Speaker 2: what are some of the options for that money? If
15:18
Speaker 2: you're real regimented in your you know, in your spending
15:20
Speaker 2: and taking care of that and those type of things.
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Speaker 3: Right, Well, the biggest thing is is understand that money
15:30
Speaker 3: does what you tell it to do. You know, you
15:33
Speaker 3: told it that you had that payment for those fifteen
15:37
Speaker 3: or thirty years, and that payment got made and now
15:41
Speaker 3: you're at the end of that payment, and so when
15:44
Speaker 3: that happens, you don't have the payment anymore, but you
15:48
Speaker 3: still have the cash flow. If you don't direct it somewhere,
15:53
Speaker 3: it will go and who knows where. And so I
15:58
Speaker 3: think when you make that that payoff, have a plan
16:04
Speaker 3: before it's paid off, as you're coming down the end
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Speaker 3: and say, okay, what am I going to tell my
16:09
Speaker 3: money to do? What goals do I have? What other
16:13
Speaker 3: places can I direct these funds to be productive for
16:17
Speaker 3: me rather than you know, allow it to set in
16:20
Speaker 3: the checking account and then inevitably it kind of leaks
16:24
Speaker 3: out on little things that you probably can't even identify.
16:29
Speaker 3: At the end of the month. You know clearly you
16:32
Speaker 3: were making the payment. Clearly you can afford to make
16:35
Speaker 3: the payment. If you've paid it off, well, now you
16:37
Speaker 3: can afford to take that money and direct it to
16:40
Speaker 3: something productive. You know you'd want to take an inventory
16:44
Speaker 3: of your of your finances. You would want to see,
16:48
Speaker 3: you know, do you have other debts, you have credit cards,
16:51
Speaker 3: do you have car payments, do you have things of
16:53
Speaker 3: that nature? Those might be productive areas to direct that
16:57
Speaker 3: money too. If you don't have things like that, then
17:00
Speaker 3: certainly beefing up your retirement savings could be through your
17:06
Speaker 3: four oh one k at work. It could be with
17:08
Speaker 3: additional iras or roth IRA's. If you've done a good
17:13
Speaker 3: job in max those out, then you may, you know,
17:18
Speaker 3: put that in a brokerage account growing for you. You may
17:22
Speaker 3: have to make sure that you have an adequate emergency fund.
17:25
Speaker 3: Maybe you're you're lacking there. So really just taking an
17:29
Speaker 3: inventory and then purposefully directing those funds somewhere from day one,
17:35
Speaker 3: not six months from now, because if you wait now,
17:40
Speaker 3: it will be a struggle because you've gotten used to
17:43
Speaker 3: psychologically spending that money again, it will be more of
17:48
Speaker 3: a struggle if you wait to redirect that money.
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Speaker 2: Isn't it amazing? And you mentioned something there how money
17:56
Speaker 2: leaks out, and it does, and sometimes at day have
17:59
Speaker 2: the money, don't even know where it went, and then
18:01
Speaker 2: you imagine, well, how did I make that mortgage payment.
18:05
Speaker 2: You know what I mean that it happens.
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Speaker 3: It just happens, Yes, and because it has to, and
18:11
Speaker 3: there's a discipline around it. So you know, most most
18:14
Speaker 3: things are are are really disciplined. You know that mortgage
18:22
Speaker 3: payment gives you discipline because you know you have to
18:24
Speaker 3: make it. The savings that you're trying to build. You know,
18:30
Speaker 3: there's nobody out there saying, you know, you're going to
18:33
Speaker 3: be homeless if you don't if you don't save, or
18:36
Speaker 3: at least not right away. And and so it requires
18:41
Speaker 3: some discipline and the money. Most people out there that
18:45
Speaker 3: are working and productively have have income and a job,
18:51
Speaker 3: have the ability to save something because you know, there's
18:54
Speaker 3: almost nobody that that doesn't have discretion on some of
18:59
Speaker 3: their budgets spend on frivolous things. If you if you
19:02
Speaker 3: have a job, I mean whether it be you know,
19:05
Speaker 3: a a five dollars coffee or you know, you're making
19:09
Speaker 3: decisions every single day, and those little decisions add up.
19:14
Speaker 3: And if you have that money extra where you've paid
19:18
Speaker 3: something off, then then clearly there there's going to be
19:23
Speaker 3: some things leaking out. And like you say, money goes
19:28
Speaker 3: to live where it's treated the best, and if you
19:31
Speaker 3: don't have a directive for it, then then it's going
19:34
Speaker 3: to go live somewhere else.
19:37
Speaker 2: You're talking, so you're basically you're talking about there's accountability
19:39
Speaker 2: with the mortgage serves as a little bit of accountability
19:42
Speaker 2: because you know you've got that every month you have
19:44
Speaker 2: to create something or send it or send it somewhere else.
19:47
Speaker 2: It's like, you know, a long time ago, I would
19:51
Speaker 2: you know, well, I you know, I used to used
19:53
Speaker 2: to do a lot of running. I don't do that
19:54
Speaker 2: much anymore, but used to do a lot of running.
19:56
Speaker 2: And I had a running buddy. This was years and
19:58
Speaker 2: years ago. And guess what. He would pull up in
20:00
Speaker 2: front of my house. We would go run together and
20:02
Speaker 2: he would pick me up. Where there was the accountability
20:04
Speaker 2: right in front of my house, right you know, you know,
20:07
Speaker 2: three mornings a week. So yeah, I had to get
20:09
Speaker 2: up and get out and go. And that was the
20:11
Speaker 2: initiative because you were sitting in front of my house.
20:15
Speaker 3: Right right, Yeah, no doubt about it. That's what for
20:17
Speaker 3: one case, for most people, it's the it's the number
20:23
Speaker 3: one place that wealth gets built because it's automatic. You know,
20:27
Speaker 3: you make the one decision and then it happens every
20:29
Speaker 3: paycheck and you don't have to think about it again.
20:32
Speaker 3: You can structure your outside investments the same way. You know,
20:36
Speaker 3: you can systematically invest in an I RA every month
20:41
Speaker 3: automatically through your checking account. You can systematically, you know,
20:46
Speaker 3: move money from a checking account into a brokerage account
20:51
Speaker 3: that can be invested in a whole array of different investments.
20:55
Speaker 3: So you know, you can still put that automatic discipline
21:00
Speaker 3: in place. And and most people that over time have
21:03
Speaker 3: been successful financially, that's how it's built. You know, a
21:08
Speaker 3: few hundred dollars a month here and there at a time,
21:12
Speaker 3: compound it over a few decades, and and and there
21:16
Speaker 3: you have it. But if you're you know, farther along,
21:20
Speaker 3: you don't have those few decades. Anything you do today
21:22
Speaker 3: is going to benefit you. You know, there's there's no
21:26
Speaker 3: way you save and invest and end up worse off
21:31
Speaker 3: than if you hadn't. And it's it's just a matter
21:36
Speaker 3: of getting started building discipline in and and after you
21:40
Speaker 3: particularly the automatic type investment. After you set those up,
21:43
Speaker 3: most people never miss the money because it just becomes
21:49
Speaker 3: part of what they do.
21:51
Speaker 2: And I think a key part is is what you said,
21:53
Speaker 2: if you know that say that mortgage payment is going
21:56
Speaker 2: to end, you know, be proactive early and don't let
22:01
Speaker 2: it leak for a year or whatever. And they say, oh,
22:03
Speaker 2: I gotta I gotta take that money, put us somewhere,
22:05
Speaker 2: because then it's harder to do.
22:08
Speaker 3: Yes, yeah, it's it's absolutely harder to do because now
22:12
Speaker 3: you've you've gotten yourself accustomed to having that extra money
22:16
Speaker 3: to spend on the the wants, not the needs. And uh,
22:21
Speaker 3: I like to say, I don't want to sound like
22:22
Speaker 3: I'm a miser or or anything like that. I mean
22:27
Speaker 3: life needs to be lived, but you have to have
22:30
Speaker 3: a good balance there and uh, and that and the
22:33
Speaker 3: financial stability that long term savings and investment brings, so
22:39
Speaker 3: you know, finding that good mix and and uh that
22:42
Speaker 3: works for you, that helps you, that allows you to
22:45
Speaker 3: achieve your goals, but also you know, mixing in life
22:50
Speaker 3: today because that's important too, because tomorrow isn't isn't always promised.
22:57
Speaker 2: Okay, John, we'll go to take our break and come back.
23:00
Speaker 2: Hold on just a second. John Burdett is with US
23:02
Speaker 2: Fourth Avenue Financial. It's eight forty five here on five
23:05
Speaker 2: eight WCCHS The Force to Charleston Back with John right after.
23:08
Speaker 5: This retire Right Radio is sponsored by Fourth Avenue Financial,
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23:34
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23:38
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23:42
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23:45
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23:48
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23:51
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23:54
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23:57
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24:01
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24:04
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24:07
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24:10
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Speaker 4: What if the market drops after you retire? What if
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Speaker 4: healthcare costs continue to rise? What if you outlive your savings?
24:47
Speaker 4: If these questions keep you up at night, You're not
24:50
Speaker 4: alone and you don't have to figure it out alone.
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Speaker 7: This is Retire Right Radio with John Burdett. From Fourth
25:17
Speaker 7: Avenue Financial, taking your calls at three oh four three
25:21
Speaker 7: four five fifty eight fifty eight or texts on three
25:24
Speaker 7: oh four nine three five fifty oh eight.
25:31
Speaker 2: Good morning, it's eight forty eight five eight Wcchsports to Charleston,
25:35
Speaker 2: Jeff Jenkins at John Burdett, Fourth Avenue Financial and John
25:39
Speaker 2: on the phone this morning, and we're just getting things
25:43
Speaker 2: started on this week. And John, you know when you
25:48
Speaker 2: get into August of the year, And I was thinking
25:49
Speaker 2: of this too, there's probably two main times of year
25:52
Speaker 2: that people retire. I would think it's probably around June thirtieth,
25:55
Speaker 2: right at July first, and then at the actually at
25:59
Speaker 2: the end of the calendar year. So there are people
26:00
Speaker 2: that just getting started on the retirement. Some have plans,
26:04
Speaker 2: some don't have plans, and uh yeah and uh and
26:09
Speaker 2: and I guess we'll see how it goes with them.
26:13
Speaker 3: Yeah, well, yeah, one way or the other, they're gonna
26:15
Speaker 3: find out right exactly. But but yeah, you know, if
26:22
Speaker 3: if if you are retiring, uh, and you want to
26:26
Speaker 3: fresh set of eyes on your finances and your plans,
26:31
Speaker 3: then certainly they can give us a shout and uh
26:34
Speaker 3: we can we can sit down and and and look over,
26:38
Speaker 3: look over their situation, and then try to make some
26:41
Speaker 3: recommendations to you know, keep them on track, give them
26:46
Speaker 3: a little bit of a little bit of confidence. There
26:49
Speaker 3: are a lot of misconceptions I think that people have
26:53
Speaker 3: when dealing with their retirement money. You know, you've you've
26:59
Speaker 3: been told save, save, save, and invest throughout your working career,
27:03
Speaker 3: and a lot of people do that, and then at
27:06
Speaker 3: the end you retire, there's a pile of money there.
27:09
Speaker 3: Now what you know, how do you take that money
27:12
Speaker 3: and turn it into durable income? How how can you
27:15
Speaker 3: ensure that it will last throughout your retirement? And you
27:20
Speaker 3: know those are those are questions that you need to
27:26
Speaker 3: have as as you cross over. One of the things
27:30
Speaker 3: that happens a lot is is, well this has worked
27:35
Speaker 3: for me before. I'm just going to keep doing the
27:37
Speaker 3: same thing in my retirement that I was doing when
27:41
Speaker 3: I was working. As far as your investment allocation and such, well,
27:46
Speaker 3: you know the problem with that is your your needs
27:48
Speaker 3: have changed now now you're not adding to it, you're
27:51
Speaker 3: subtracting from it every month. That argues for less volatility,
27:56
Speaker 3: because if you run the math on a volatal account,
28:02
Speaker 3: it's not going to work work if it's too volatile,
28:05
Speaker 3: because if the market's down twenty percent like it like
28:09
Speaker 3: it does, you know, relatively frequently, and you're pulling out income,
28:13
Speaker 3: it's very hard for that account to recover even when
28:17
Speaker 3: the market bounces back. So you have to be able
28:20
Speaker 3: to tamp down volatility or give yourself some kind of
28:23
Speaker 3: a financial cushion to protect yourself between the volatility of
28:29
Speaker 3: the market and your income needs. So those are some
28:34
Speaker 3: changes that you know you need to be aware of
28:38
Speaker 3: as you enter retirement. The concept of well, it's always work,
28:43
Speaker 3: I'm not going to change anything. Well, you know, you
28:46
Speaker 3: might think in your mind you're not going to change anything,
28:48
Speaker 3: but life has changed and you need to make those
28:51
Speaker 3: adjustments as you move into that stage of life.
28:55
Speaker 2: John Is the distribution of a four ah one k
28:58
Speaker 2: or other is that it seems to be it may
29:01
Speaker 2: and maybe I'm just speaking because of ignorance here, but
29:05
Speaker 2: it seems to me that that may be one of
29:07
Speaker 2: the biggest questions about that people would have. I mean,
29:10
Speaker 2: if they don't get a pension, which is a totally
29:13
Speaker 2: different thing, but if it's it's a four oh one k, Okay,
29:15
Speaker 2: that's there. Now, how much do I want to take
29:18
Speaker 2: how much should I take? I mean, those seems to
29:20
Speaker 2: me would be the biggest questions at retirement.
29:24
Speaker 3: Yeah, absolutely, I mean certainly. The monthly income is the
29:30
Speaker 3: number that people, you know, try to try to look at.
29:34
Speaker 3: But you know, but there are a lot of things
29:37
Speaker 3: that go into that. You know, there's a idea a
29:42
Speaker 3: lot of times folks will have that, well, I know
29:46
Speaker 3: the market average is ten percent a year for instance,
29:49
Speaker 3: over time, Well, then I should be able to take
29:52
Speaker 3: ten percent out. Well, the math doesn't work that way
29:55
Speaker 3: because the market doesn't return ten percent in a straight
29:59
Speaker 3: line every year. There's also the idea that a lot
30:04
Speaker 3: of folks have that says, you know what, I'm just
30:06
Speaker 3: gonna be so conservative. I'm going to put it in
30:09
Speaker 3: tds or fixed accounts that I know I'm going to
30:12
Speaker 3: get maybe five percent return every year on and just
30:17
Speaker 3: take that. Well, you still have risk. One is when
30:21
Speaker 3: those CDs and and bonds mature, what happens to interest
30:26
Speaker 3: rates are if they're lower, your income gets cut. That's
30:31
Speaker 3: that's a problem. If you take all the money out
30:34
Speaker 3: that it's producing an interest income, then your account is
30:38
Speaker 3: not growing. But what is growing in retirement the prices
30:42
Speaker 3: at the grocery store, so you're exposing yourself to that risk.
30:47
Speaker 3: So you know, there are so many of these preconceived
30:50
Speaker 3: thoughts that you know that just don't work. When you
30:56
Speaker 3: start thinking about those distribution amounts and how you allocate
31:02
Speaker 3: your funds in the investments, it's it's a total change
31:06
Speaker 3: from just setting it and forgetting it like you do
31:10
Speaker 3: in your four oh one K. You know, most four
31:12
Speaker 3: oh one k's are set up to where anymore they're
31:17
Speaker 3: they're age based or retirement based age type funds that
31:22
Speaker 3: are diversified for you in a portfolio. And most folks
31:27
Speaker 3: today are investing in those type of funds. They truly
31:31
Speaker 3: are set it and forget it. But it's not because
31:33
Speaker 3: there's nothing going on underneath. You know, those funds are
31:37
Speaker 3: designed to become more moderate as you get closer to retirement.
31:41
Speaker 3: You're not making that decision. Well, you know what happens
31:47
Speaker 3: when you when you when you retire, you well, now
31:49
Speaker 3: you have to have to think about those things yourself.
31:56
Speaker 2: And that's john where I mean it all really points
31:59
Speaker 2: to a plan and that's what you guys do. A
32:01
Speaker 2: fourth avenue financial right, I mean you and remind us
32:05
Speaker 2: again again of that you know, the process of sitting
32:07
Speaker 2: down with people starts with a phone call or an
32:10
Speaker 2: inquiry to your office, and you can get started with
32:14
Speaker 2: just kind of getting to know people and finding out
32:16
Speaker 2: what their needs are and helping them along the way.
32:20
Speaker 3: Absolutely. Yeah. The first uh, the first contact we usually
32:24
Speaker 3: have is a it's just a ten minute introductory phone call,
32:29
Speaker 3: you know, ask ques. They can ask questions, uh, you know,
32:34
Speaker 3: try to understand the process of of you know, how
32:38
Speaker 3: we would work together. Then we would schedule an appointment.
32:42
Speaker 3: The first appointment you come in typically come in and
32:47
Speaker 3: we can also do zoom meetings and things for that nature.
32:50
Speaker 3: But most folks come in and we just sat down
32:53
Speaker 3: in my office, talk about your goals and your finances
32:57
Speaker 3: and where you are, where you want to be, get
33:01
Speaker 3: to know one another, get comfortable, and from there then
33:07
Speaker 3: I can start formulating some ideas and plans. But that
33:10
Speaker 3: first meeting a lot of folks think, well, I'm coming in,
33:13
Speaker 3: I've got to make a decision today. That's really not
33:16
Speaker 3: how that works. There's no decision to be made until
33:18
Speaker 3: I understand what it is you're trying to accomplish, and
33:23
Speaker 3: then I can put a plan together and a path forward,
33:27
Speaker 3: and so there's typically a follow up meeting where we
33:30
Speaker 3: would sit down and actually, here, here is the way
33:33
Speaker 3: that I would recommend that you go forward. And then
33:38
Speaker 3: if you agree to that that at that point, you know,
33:42
Speaker 3: we start we start working together and you know, moving
33:45
Speaker 3: the assets and things that we've decided on. So it
33:49
Speaker 3: is a process. It's to get to know one another process.
33:52
Speaker 3: It is not a uh a scenario where you know, oh, here,
33:58
Speaker 3: here's the money, do something with it. You know, we
34:01
Speaker 3: have to have that communication back and forth so that
34:05
Speaker 3: I'm designing the portfolio for you and your needs and
34:08
Speaker 3: your goals.
34:10
Speaker 2: And is there a certain amount I'm sure there is
34:12
Speaker 2: john satisfaction when someone comes to you maybe unsure, maybe nervous,
34:19
Speaker 2: and then after you know that that you know, you
34:23
Speaker 2: sit down to plan, you map it out, and there's
34:26
Speaker 2: maybe relief, maybe some peace on the face of that person.
34:31
Speaker 3: Yeah. I think that's that's largely true. And that's certainly
34:34
Speaker 3: one of the reasons I like I like this job.
34:40
Speaker 3: I guess it is that it is, you know, taking
34:46
Speaker 3: helping people take the things that are important to them
34:51
Speaker 3: and and structuring a plan that allows them to achieve,
34:54
Speaker 3: that allows them to do that and yes, that is
35:00
Speaker 3: rewarding for me, but but you know, I'm sure it's
35:05
Speaker 3: comforting and rewarding for the for the client as well.
35:11
Speaker 3: You know, there's just so much anxiety around money and
35:15
Speaker 3: having a plan, you know, having a having somebody that
35:23
Speaker 3: has worked through this for several decades, with people knowing
35:27
Speaker 3: what the pitfalls are, knowing how the laws change that
35:31
Speaker 3: might affect what you're doing. You know, think about that
35:35
Speaker 3: you retire, Do you want to be following tax law
35:41
Speaker 3: when you're seventy five years old, eighty years old, and
35:46
Speaker 3: how that might affect your your your finances. I wouldn't
35:49
Speaker 3: think you would want to do that. You know, those
35:52
Speaker 3: are the types of things that that we can help
35:56
Speaker 3: you through so you don't have to spend your retirement
35:59
Speaker 3: year thinking about those things directly. You know, we just
36:03
Speaker 3: circle back and make sure that that we're on the
36:06
Speaker 3: same page. Everybody understands, uh, you know, what's happening in
36:11
Speaker 3: their life, what's happening with their portfolio on a regular basis,
36:15
Speaker 3: But it's not something that that then the client has
36:18
Speaker 3: to think about every single day like they would if
36:21
Speaker 3: they were managing it for themselves.
36:24
Speaker 2: All right, John, what give us the information, the best
36:27
Speaker 2: way to the best way to contact you and get
36:29
Speaker 2: this process started.
36:33
Speaker 3: Well, the phone. The phone. The phone works so that
36:36
Speaker 3: that is a great way. It's three zero four seven
36:41
Speaker 3: four six seven nine seven seven. Just call into the
36:45
Speaker 3: office and uh uh ask for the introductory phone call.
36:49
Speaker 3: There's no charge for that. There's no charge for our
36:52
Speaker 3: first introductory meeting either, and uh and we can get
36:57
Speaker 3: you scheduled. You can also go on our website UH
37:01
Speaker 3: and schedule uh your call online as well. And that's
37:05
Speaker 3: fourth Avenue Financial dot com. That's all spelled out f
37:09
Speaker 3: O U R T h Avenue Financial dot com. And
37:14
Speaker 3: like you say, there's lots of articles, lots of information
37:17
Speaker 3: there and you can book your appointments right right on
37:19
Speaker 3: the website.
37:20
Speaker 1: All right, John, have a good day.
37:22
Speaker 2: This is five AD w c HS.
37:24
Speaker 7: W C H S A W two four three d
37:26
Speaker 7: R F M Charleston, W two A three Q Cross Lanes,
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37:33
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