Latest / WCHS Network Podcasts / 08/17/2026 Retire Right Radio with John Burdette

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08/17/2026 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. Find 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: And we are live Jeff Jenkins with John Burdett this
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Speaker 2: morning here on five ADWCCHS, the Voice of Charleston. John,
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Speaker 2: How you doing pretty good?
0:53
Speaker 3: I was getting nervous.
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Speaker 4: I was going to have to go solo.
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Speaker 2: Well, yes, that intro, Hey, go ahead, you can do it.
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Speaker 2: You've done it. You've done that long enough, you can
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Speaker 2: do it.
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Speaker 3: Well, that's the first time I've heard the new intro. Yeah,
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Speaker 3: I think it's a new style.
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Speaker 2: I guess, yeah, new style. Well, good morning. How you
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Speaker 2: doing pretty good?
1:10
Speaker 4: Pretty good? Good?
1:12
Speaker 2: Stay dry, I guess, stay dry, stormy, stormy weekend, and
1:17
Speaker 2: we settle in here on a Monday morning after kind
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Speaker 2: of a If I can think back to the market
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Speaker 2: last week, it was well, I'm going to say this
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Speaker 2: a general statement, kind of up and down week, but
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Speaker 2: I mean, what how did we end? Where things? Where
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Speaker 2: are things?
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Speaker 4: You know?
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Speaker 3: Last week there wasn't a lot of news that really
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Speaker 3: was out other than inflation, and inflation came in better
1:41
Speaker 3: than expected. So that's a good thing because there's a
1:44
Speaker 3: lot of talk about, well, the VET have to actually
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Speaker 3: raise rates the next move rather than cut rates, and
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Speaker 3: so that certainly was good news and certainly probably kicks
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Speaker 3: the interest rate can down the road. I guess where
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Speaker 3: the Fed's probably going to stand pat for a while
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Speaker 3: and just observe.
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Speaker 2: And we're coming up on an election, at least mid terms,
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Speaker 2: so I'm not sure how all that kind of figures
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Speaker 2: into this too.
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Speaker 3: You know, most of those type of things are short
2:18
Speaker 3: term events. Earnings are really what drives the market forward
2:23
Speaker 3: and the reason where it clots to record highs or
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Speaker 3: write at record highs, it's that earnings have been extremely
2:33
Speaker 3: strong year over year, it's looking to be about thirty
2:37
Speaker 3: plus percent earnings growth. That's incredible. That's what drives the
2:42
Speaker 3: market forward. So you can read all the news, you
2:46
Speaker 3: can think about all the things in the world that
2:49
Speaker 3: are going wrong. But at the end of the day,
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Speaker 3: why do you buy a company? You want to own
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Speaker 3: a share of their earnings, and if the earnings are
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Speaker 3: up thirty percent, generally the owners of them but you
3:00
Speaker 3: are going to do pretty well. And that's what stock
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Speaker 3: ownership is. And and so yes, it can be confusing
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Speaker 3: when you look at the headlines and you and you
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Speaker 3: and you wonder that that can't be good for the
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Speaker 3: stock market. But if you look at earnings, you know
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Speaker 3: they're they're chugging along at really a breakneck speed.
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Speaker 2: If you will, and I know you're some people are different.
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Speaker 2: I mean some people you try yourself crazy looking at
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Speaker 2: your four oh one k every day, but if if
3:35
Speaker 2: you if you just take a peek every six months
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Speaker 2: or every you know, and you get with you and
3:41
Speaker 2: you know you're planning these things out. And you've said
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Speaker 2: this many times the last three years, maybe more than that.
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Speaker 2: I mean, these have been very productive years.
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Speaker 3: Oh absolutely, absolutely, And uh, you know, for the and
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Speaker 3: really all over long stretches of tom. If you're planning
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Speaker 3: for retirement, what you need to focus on not the market.
4:02
Speaker 3: You need to focus on the things you control. How
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Speaker 3: much am I saving? Am I doing it regularly? Am
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Speaker 3: I raising it over time? As how I get a
4:11
Speaker 3: larger percentage of my income in Those things are totally
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Speaker 3: in your control, and those are the things that matter.
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Speaker 3: You know, certainly, allocations matter. You know, if you save
4:23
Speaker 3: and don't have it allocated into growth investments over the
4:27
Speaker 3: next twenty or thirty years, you know that's not going
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Speaker 3: to be as fruitful for you. But if you are
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Speaker 3: are consistently putting money away in really ownership of companies
4:42
Speaker 3: that are serving all of us, you're you're going to
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Speaker 3: benefit from that. And it almost doesn't matter what the
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Speaker 3: stock market does. You know, historically, if it's been eleven percent, well,
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Speaker 3: let's say for some reason it's zero percent, you're still
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Speaker 3: going to be better off. Often the person that didn't
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Speaker 3: save anything. You know, it really is in more your
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Speaker 3: control than you think that it is. Psychologically, you know,
5:09
Speaker 3: folks think, well, I'm putting my money out there, I
5:12
Speaker 3: don't know where it's going. It's numbers go up and
5:15
Speaker 3: down on a piece of paper. But it is very real.
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Speaker 3: The thing that you're doing. You're taking ownership of the
5:25
Speaker 3: most productive companies in the world, and you know those
5:31
Speaker 3: will take care of themselves if you do your job
5:34
Speaker 3: and get the money in there regularly. Most people that
5:38
Speaker 3: come into my office so that have been successful over
5:41
Speaker 3: the years.
5:42
Speaker 4: That's how it happened.
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Speaker 3: It didn't happen with a lucky investment or a major inheritance.
5:47
Speaker 3: It happened because they had a plan, They were disciplined,
5:53
Speaker 3: and they kept their head down and focused on saving
5:57
Speaker 3: and investing, making.
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Speaker 4: That a priority, and.
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Speaker 3: It almost inevitably works. I mean that, I don't I don't.
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Speaker 3: You know, it's it's so simple. It seems like there
6:09
Speaker 3: must be some other trick, but there really isn't.
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Speaker 2: And as you have said numbers of times, the earlier
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Speaker 2: you get in, then the the amazing compound interest that
6:22
Speaker 2: the longer it has to be able to do.
6:24
Speaker 3: That, And that's that's one of the things. As you're
6:28
Speaker 3: starting out, it seems like you're getting nowhere because all
6:34
Speaker 3: of the money that's in that account initially came from
6:38
Speaker 3: you and your work and your sacrifice. But after a while,
6:44
Speaker 3: what happens you're a As the balance gets bigger, the
6:47
Speaker 3: impact of the interest and the growth gets bigger, and
6:52
Speaker 3: at some point you get to get to a place
6:55
Speaker 3: where your investment's actually growing faster than you're putting in.
7:01
Speaker 3: That's when it really takes on a life of its own.
7:03
Speaker 3: It's exponential growth. When you see the you know the
7:06
Speaker 3: charts like, well it looks like a hockey stick. Yes,
7:09
Speaker 3: that's true, because the growth happens the market growth really
7:14
Speaker 3: is impacting you at the at the end that that's noticeable.
7:17
Speaker 3: It's certainly impacting you up front too, but it becomes
7:20
Speaker 3: noticeable as the account balances get larger. You know, if
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Speaker 3: you have five thousand dollars in your account and you're
7:26
Speaker 3: up ten percent, well you made five hundred dollars that year.
7:31
Speaker 3: That's great, but that's not you know, something that you're
7:36
Speaker 3: going to you know, change your life over. But if
7:39
Speaker 3: you have five hundred thousand dollars, you know that's a
7:43
Speaker 3: fifty thousand dollars gain in that in that year. You know,
7:47
Speaker 3: that becomes something that, like I say, takes on a
7:50
Speaker 3: life of its own, and you have to put that
7:52
Speaker 3: work in upfront to get to that point. And a
7:55
Speaker 3: lot of people they give up because it seems like
7:58
Speaker 3: it's not working. They give up too early. And you know,
8:04
Speaker 3: seven years is a number that has talked about a lot.
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Speaker 3: Once you start investing, once you start saving, you know,
8:11
Speaker 3: you're you're going to feel like it you're going nowhere
8:14
Speaker 3: for you know, five, six, seven years, because you're doing
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Speaker 3: all the work. But after that, usually you've been through
8:23
Speaker 3: a market cycle of the ups and downs, and you
8:27
Speaker 3: see that long term rate of growth that occurs through
8:31
Speaker 3: the good and bad, and your balance is now generally
8:35
Speaker 3: large enough where now when the market has a good year,
8:38
Speaker 3: you see it. And if you can get to that point, psychologically,
8:42
Speaker 3: it's much easier to to continue because it starts to
8:46
Speaker 3: click that hey, this this hard work is actually getting
8:50
Speaker 3: me somewhere. And just you know, that's that's I think
8:54
Speaker 3: is why so many people you know, fail to stick to.
8:57
Speaker 4: It early on, because ensure a lot early.
9:01
Speaker 3: Yeah, yeah, it's and you know, people expect overnight results
9:05
Speaker 3: and it just doesn't happen that way, but results inevitably
9:09
Speaker 3: happen if you stick to it.
9:11
Speaker 2: Well, it's just like anything, right, we are in an
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Speaker 2: immediate gratification society, right, and uh, and and that's what happens.
9:19
Speaker 2: And and to your point, if if that growth didn't happen, it,
9:24
Speaker 2: you know, people would you know, you wouldn't have the
9:27
Speaker 2: success that the stock market had. I mean, you know
9:29
Speaker 2: when you have the success that people have had.
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Speaker 3: Right, And a lot of folks are like, well, you
9:33
Speaker 3: know what if I lose everything? Well, you know when
9:37
Speaker 3: people say that, I don't think they really know what
9:40
Speaker 3: that means and the possibility of that and how remote
9:45
Speaker 3: something like that is. One company can go out of business,
9:49
Speaker 3: but not all companies can are going to go out
9:51
Speaker 3: of business unless something drastically happens to change the way
9:57
Speaker 3: we live our lives and and most economic activity is
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Speaker 3: built on habits of everyday people, the desires of everyday people.
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Speaker 4: You and I are the economy. You know.
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Speaker 3: We go out and spend our money, make decisions of
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Speaker 3: what we purchase, and the companies there try to meet
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Speaker 3: our needs and meet our desires, and that's how they
10:23
Speaker 3: make money. And for all of that to go away
10:27
Speaker 3: when somebody says, well what if the you know, what
10:29
Speaker 3: if everything crashes, well, are we are we going to
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Speaker 3: just decide not to eat? Are we going to decide
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Speaker 3: not to drive? A car. Are we going to decide
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Speaker 3: not to you know, drink the coffee that we're addicted to.
10:44
Speaker 3: You know, it's it's it's easy to to say that
10:51
Speaker 3: out of fear that well, what if what if everything
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Speaker 3: you know crashes and goes away and I lose everything?
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Speaker 3: But for that to happen, what's money worth anyway? You know,
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Speaker 3: It's just it's just a scenario that is is so
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Speaker 3: out there that it's it's it's really just an excuse
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Speaker 3: for not taking action.
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Speaker 2: John Adet with US Fourth Avenue Financial here on five
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Speaker 2: ed w CCHS The Voice of Charleston. Sir John, what
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Speaker 2: how often because when you when I was with you
11:24
Speaker 2: two weeks ago, you talked about we talked about maybe
11:29
Speaker 2: you know, I think we talked about one of the
11:30
Speaker 2: scenarios are like paying off the mortgage and and you
11:33
Speaker 2: have this extra money, and you made the great point
11:36
Speaker 2: of you need to assign your money somewhere or it
11:39
Speaker 2: will go somewhere, right right, So what about how often
11:44
Speaker 2: should you look at For instance, you're for a one
11:47
Speaker 2: K and this is something you because you you offer
11:50
Speaker 2: the planning services, you can work that out with the
11:52
Speaker 2: people that you meet with. But you look at that
11:54
Speaker 2: and you say, you know, I want to sign another
11:56
Speaker 2: two percent every year. I know, I mean, how how
11:59
Speaker 2: does that work?
12:01
Speaker 4: Well?
12:03
Speaker 3: In a four oh one K. Usually there are windows
12:07
Speaker 3: throughout the year where you're allowed to make those changes.
12:11
Speaker 3: Certainly once a year, the enrollments is typically open and
12:17
Speaker 3: you can make those changes. And you know, I always
12:21
Speaker 3: encourage people to one get started, Get started, And a
12:26
Speaker 3: good place to start if you if you haven't done
12:28
Speaker 3: anything before, is look at your company match and make
12:32
Speaker 3: sure you're taking full advantage of it. You know, you
12:34
Speaker 3: might be able to put in five percent and the
12:36
Speaker 3: company matches the five or three percent and three percent,
12:40
Speaker 3: but take advantage of that match because it's free money.
12:44
Speaker 3: That's a great place to start. But that's not the
12:46
Speaker 3: end of it. You know, you really should be saving
12:49
Speaker 3: more than three or five percent, But starting out, you know,
12:55
Speaker 3: go for that and make that your your initial goal,
12:58
Speaker 3: and then every year try to bump it.
13:01
Speaker 4: Up a little bit.
13:01
Speaker 3: Usually annually there's some kind of a cost of living
13:05
Speaker 3: increase or a wage increase that you may get. You know,
13:09
Speaker 3: maybe you get a three percent wage increase. Okay, that's
13:13
Speaker 3: a good opportunity to bump up your savings one percent
13:16
Speaker 3: still gives you a little extra spending money, but now
13:19
Speaker 3: you're incrementally moving towards the savings amounts you need. And
13:24
Speaker 3: of course that works very well if you're younger, right,
13:27
Speaker 3: you know, because you have time for that for that
13:29
Speaker 3: to play out. Now if you if you're just starting
13:32
Speaker 3: out and you're older, then you need to, you know,
13:34
Speaker 3: bite the bullet and really, you know, step up immediately
13:38
Speaker 3: as quickly as you can to catch up with what
13:43
Speaker 3: time you've lost. But but you know, once a year
13:48
Speaker 3: that I think is a good time to to look
13:53
Speaker 3: at those numbers, try to increase those numbers, because that's
13:56
Speaker 3: typically how the wage increases and things like that come.
14:00
Speaker 2: When you meet with people, and maybe you're having your
14:03
Speaker 2: initial meet and your initial consultation with someone, are there
14:09
Speaker 2: some commonly asked questions or commonly asked themes that that
14:13
Speaker 2: you hear almost from everyone, even though their circumstances are different.
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Speaker 3: Yeah, I mean there are a lot of certainly a
14:21
Speaker 3: lot of questions about topics in the news and what's
14:25
Speaker 3: going on and how that might affect their investments, which
14:31
Speaker 3: you know, I try to convey that that is not
14:36
Speaker 3: what is going to make them successful. Or not, because
14:38
Speaker 3: everything we're talking about in the news today, a year
14:42
Speaker 3: from now, three years from now, five years from now,
14:45
Speaker 3: we won't be talking about it. We'll be talking about
14:48
Speaker 3: some other disaster. That's just the way it has always
14:52
Speaker 3: been and it always will be. It's life on the planet.
14:56
Speaker 3: So there are questions about that a lot. You know,
14:59
Speaker 3: is it the right time to invest or? You know,
15:03
Speaker 3: there is no right time to invest. The right time
15:05
Speaker 3: to invest is when you have money to invest, because
15:09
Speaker 3: none of us have a crystal ball from what's going
15:12
Speaker 3: to happen in the market next month or six months
15:15
Speaker 3: from now, but you have pretty good insight to it
15:20
Speaker 3: over long periods of tom. You know, companies, even if
15:25
Speaker 3: they face adversity in a short period of TOM, they
15:28
Speaker 3: don't quit. They try to figure out how to right themselves,
15:36
Speaker 3: correct the profitability problem which drives the stocks forward. They
15:40
Speaker 3: try to innovate, They try to make sure that they're
15:44
Speaker 3: listening to their customers to develop things that they will desire.
15:48
Speaker 3: And you know, I think a lot of times people
15:51
Speaker 3: look at the news and they extrapolate what's happening far
15:58
Speaker 3: off into the future. But that assumes that people don't
16:02
Speaker 3: make adjustments. You know, if if the price of beef
16:06
Speaker 3: goes up, well you can either buy the beef or
16:10
Speaker 3: you can decide maybe we'll have chicken tonight. You know,
16:14
Speaker 3: those are little decisions that you make, but that does
16:17
Speaker 3: have an impact across the economy. If enough people are
16:21
Speaker 3: making those type of decisions, you know, and enough people
16:25
Speaker 3: make that decision, what will happen. Well, chicken prices will
16:28
Speaker 3: probably go up and beef prices will fall. You know,
16:33
Speaker 3: they say oil is it's kind of the same way.
16:37
Speaker 3: What's the cure for high oil prices? High high oil prices,
16:43
Speaker 3: that's the cure because that's the signal for the producers
16:47
Speaker 3: to produce more, which drives the price back down. Now
16:51
Speaker 3: that you know, these things don't move overnight, but but
16:54
Speaker 3: that generally, just like right now in the in the
16:56
Speaker 3: Middle East with the with the straight being restricted, you know,
17:01
Speaker 3: I can assure you that everyone involved in that industry
17:05
Speaker 3: is looking at the problem and thinking, Okay, how do
17:08
Speaker 3: we get around us.
17:11
Speaker 4: Now.
17:11
Speaker 3: It's not overnight, but I bet you there'll be some
17:13
Speaker 3: pipelines built. I'll bet you'll be some things rerouted and
17:17
Speaker 3: backup plans being created.
17:19
Speaker 4: So it doesn't have when it happens again, or you
17:21
Speaker 4: can write.
17:22
Speaker 3: And that that's what happens in the economy every day.
17:28
Speaker 3: That's why it's not static. When when a news story
17:31
Speaker 3: happens that you think this is so bad that it
17:33
Speaker 3: has to affect stocks, That assumes that people just set
17:37
Speaker 3: on their hands and give up. And that's not what happens.
17:42
Speaker 3: And the market and the people behind the companies and
17:46
Speaker 3: the workers, you and I individually, you know, people are
17:50
Speaker 3: pretty resilient, you know, And and that plays itself out,
17:56
Speaker 3: and so it's I think the big thing is is
18:01
Speaker 3: and a lot of the questions that come from from
18:04
Speaker 3: people overall are really fear based questions, you know about
18:10
Speaker 3: things like that. You know, of course, the another question
18:15
Speaker 3: is am I on the right track? You know, there
18:18
Speaker 3: are a lot of people that have done the savings
18:21
Speaker 3: and four oh and ks calculators. They don't really you know,
18:26
Speaker 3: we're all told to save and invest, but then what
18:31
Speaker 3: you know, what if you're getting closer to retirement, is
18:34
Speaker 3: it enough? How do you manage that to make sure
18:37
Speaker 3: that it lasts over retirement? How much of this can
18:40
Speaker 3: I spend for my retirement and still be comfortable that
18:43
Speaker 3: I'm not going to run out of money? You know,
18:47
Speaker 3: questions like that are certainly high on the list as well.
18:51
Speaker 2: Right, and then before we take our break, and John
18:54
Speaker 2: Bradetch with us fourth Avenue Financial as he is every
18:56
Speaker 2: Monday here on five eight whs the voice of Charleston.
18:59
Speaker 2: The whole AI thing. Now, I'm not going to I
19:01
Speaker 2: have you have you sum it up in thirty seconds.
19:03
Speaker 2: But where are there is there is There's still a
19:06
Speaker 2: lot of a known is it? Because the thirst for
19:09
Speaker 2: power certainly is there, right, and so it's you know,
19:13
Speaker 2: states are trying to you know, adjust West Virginia's in
19:16
Speaker 2: that adjustment right now, trying to be a home for AI.
19:18
Speaker 2: Then you've got obviously people are concerned about it. Where
19:22
Speaker 2: are we with this this?
19:24
Speaker 3: You know, well, as far as companies go, there is
19:30
Speaker 3: a little more reluctance to just take companies on their
19:36
Speaker 3: word that it's going to be something that you know,
19:38
Speaker 3: the if you can see that in the earnings in
19:41
Speaker 3: the last quarter. You know, the tech earnings are good,
19:44
Speaker 3: but people are really keying in on how much money
19:46
Speaker 3: are they spending on some of these AI projects and
19:51
Speaker 3: when will that money come back as a return to
19:54
Speaker 3: the to the shareholder. What is the plan to monetize
19:58
Speaker 3: that so that it's not just an endless investment. And
20:03
Speaker 3: so you're seeing some of some of that, which is
20:06
Speaker 3: which is healthy. I mean, obviously you don't want so
20:09
Speaker 3: much capital chasing something that it that it ends up
20:13
Speaker 3: being uh malinvested. It's it's sort of like, uh, you know,
20:19
Speaker 3: if you put a bridge across the river, that's great
20:22
Speaker 3: for the economy because now people can connect and move
20:25
Speaker 3: goods and services and such. But if you put ten
20:29
Speaker 3: bridges right side by side over the same river, there's
20:34
Speaker 3: diminishing returns every time you do that. And so the
20:38
Speaker 3: you know, if there's not some sort of a governor there,
20:44
Speaker 3: and that's what the that's what the market provides, is
20:48
Speaker 3: a signal to say, okay, wait a second. You know
20:50
Speaker 3: this capital was flowing here, is it going to be productive?
20:55
Speaker 3: And so that's a healthy thing. And so we'll see
20:58
Speaker 3: how it we'll see how it plays out. But you know,
21:03
Speaker 3: I don't know what AI is going to ultimately turn into.
21:08
Speaker 3: I mean, I can see how it can be very
21:12
Speaker 3: valuable in certain cases and maybe overhyped in other cases.
21:17
Speaker 4: So but that's.
21:18
Speaker 3: How that's how things happen, That's how technology happens, right exactly.
21:23
Speaker 2: All Right Save forty two. John Burdett's with us Fourth
21:25
Speaker 2: Avenue Financial here on five eighty do would you see
21:27
Speaker 2: hs the voice of Charleston We're back in a moment
21:30
Speaker 2: right here.
21:31
Speaker 5: Retire Right Radio is sponsored by Fourth Avenue Financial, which
21:34
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Speaker 7: This is retire Right Radio with John Burdett from Fourth
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Speaker 7: Avenue Financial, taking your calls at three oh four, three
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Speaker 7: four five fifty eight fifty eight or texts on three
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Speaker 7: oh four nine three five fifty oh eight.
24:02
Speaker 2: And we're by here on five a c. In the
24:05
Speaker 2: voice of Charleston John Burdette, foorth Avnor Financial, Jeff Chick,
24:09
Speaker 2: that's with you this morning, John experiencing John. You got
24:14
Speaker 2: a little bit of a you got a little bit
24:17
Speaker 2: of a stormy uh stormy weekend too, Din Is.
24:20
Speaker 3: Yeah, well, actually actually the we had a lightning strike
24:23
Speaker 3: at the house and it wasn't actually this weekend, it
24:26
Speaker 3: was actually the week before. We're still trying to get
24:29
Speaker 3: uh somehow, you know, think weird things happen sometimes. But
24:36
Speaker 3: I have a upstairs unit AC unit in our house,
24:42
Speaker 3: and there is the copper line set that flows from
24:45
Speaker 3: the outside piece of equipment to the inside and it
24:50
Speaker 3: went it goes through.
24:52
Speaker 4: My wall up the wall.
24:54
Speaker 3: It's hidden in the wall, and I guess somehow the
24:57
Speaker 3: lightning traveled on that copper and halfway up my wall
25:01
Speaker 3: blew a hole in that line set that carries the
25:05
Speaker 3: free on or the coolant. And we're still trying to
25:10
Speaker 3: trying to get that rectified.
25:13
Speaker 4: Wow. What are the odds?
25:15
Speaker 2: Wow?
25:16
Speaker 3: But you know, when that electric it just follows whatever
25:20
Speaker 3: where the easiest path is. And you know, there were
25:24
Speaker 3: certain circuits of the house that had got in and
25:26
Speaker 3: certain circuits that weren't affected.
25:28
Speaker 4: It's just very, very odd.
25:30
Speaker 2: And you were at home when the strike hit, right, Oh.
25:33
Speaker 3: Yeah, yeah, I was home. I was I was in
25:37
Speaker 3: the front of the house. My boys were in the
25:40
Speaker 3: back of the house. And when it happened, I mean
25:44
Speaker 3: everything turned white, bright white, and and of course the
25:48
Speaker 3: sound was immediate. And I would have bet that the
25:54
Speaker 3: lightning struck in front of the house. The boys were
25:57
Speaker 3: in the back of the house. They said, no, it
25:59
Speaker 3: struck behind the house, which probably means it struck on
26:02
Speaker 3: the house. But I could never find, you know, exactly
26:07
Speaker 3: where actual place, but it you know, we lost computers
26:11
Speaker 3: and monitor I mean, I mean even things on surge protectors.
26:14
Speaker 4: Blew right through it blew right through it. Yeah.
26:17
Speaker 3: Yeah, so you know it's a nuisance. But in the
26:20
Speaker 3: grand scheme of things, you know, it's it's all yeah,
26:23
Speaker 3: everything's fixable.
26:25
Speaker 2: Yeah, exactly. Wow. And uh so John fourth Avenue financial
26:30
Speaker 2: and what you specialize in you a number of things,
26:34
Speaker 2: but really what you specialize in our relationships, you know,
26:38
Speaker 2: uh folks looking forward to the future and having those
26:43
Speaker 2: relationships with people and then helping them on, you know,
26:46
Speaker 2: to where they would they would desire to go.
26:48
Speaker 3: Yes, because the you know, the things that you have
26:51
Speaker 3: on your mind or that concerned you today, the goals
26:54
Speaker 3: that you have today may change over time and probably
27:00
Speaker 3: will change over time because life is not static. And
27:05
Speaker 3: so it's not just here's the money, put it to work.
27:10
Speaker 3: It is a relationship. It's getting to know the client
27:15
Speaker 3: and of course the client getting to know me and
27:17
Speaker 3: being comfortable with me so that we can have communication
27:20
Speaker 3: and talk as these things happen in life, so that
27:24
Speaker 3: we can make the adjustments that are appropriate. And that's
27:28
Speaker 3: a very individualized thing, and that really is what makes
27:34
Speaker 3: my business run. You know, anybody can pick a stock,
27:42
Speaker 3: but what happens as you enter retirement or get close
27:47
Speaker 3: to retirement all the decisions become amplified because you know
27:52
Speaker 3: in the back of your mind you have to get
27:53
Speaker 3: them right, because you can't go make up thirty years
27:56
Speaker 3: of work if you do something incorrectly, and so the
28:02
Speaker 3: and sometimes the emotional decision making that comes from having
28:08
Speaker 3: that feeling can be very detrimental to your you know,
28:12
Speaker 3: to your investments. For instance, if you're concerned about the
28:15
Speaker 3: market and you know that you're not working anymore, you
28:21
Speaker 3: might have a tendency to sell everything out and go
28:23
Speaker 3: to CDs or something like that. Well, yes, that's safe
28:27
Speaker 3: for principle, but five years from now, when everything costs
28:33
Speaker 3: twenty percent more and your money hasn't grown, you will
28:38
Speaker 3: fill that pinch.
28:39
Speaker 4: You know.
28:39
Speaker 3: That's one of those risks that most people key on
28:44
Speaker 3: the one main risk, which is the volatility of the market,
28:47
Speaker 3: but forget about the other risk which are very real
28:49
Speaker 3: and over time, really have more impact. So having that
28:55
Speaker 3: relationship allows to understand, you know, how how is this
28:59
Speaker 3: person think thinking about these things, and you know what,
29:03
Speaker 3: how will that impact their investments? How will that impact
29:06
Speaker 3: their attitudes towards things?
29:08
Speaker 4: How do we.
29:09
Speaker 3: Build a portfolio that is something that they can be
29:12
Speaker 3: comfortable with? So that they will stick through it when
29:15
Speaker 3: the inevitable market hitcups happen.
29:18
Speaker 2: So it's really working on both sides. One is working
29:21
Speaker 2: with the person. You have the relationship with your client,
29:25
Speaker 2: because their life circumstances change absolutely, and then the market
29:29
Speaker 2: can change. You talk a lot about trying to insulate
29:32
Speaker 2: yourself from the you know, from the drastic ups and downs.
29:35
Speaker 2: So you're really that relationship is working both sides of those.
29:38
Speaker 3: Things absolutely, and they play hand in hand because of
29:42
Speaker 3: if I make adjustments over here to the portfolio that
29:46
Speaker 3: that client is not comfortable with, as soon as something
29:51
Speaker 3: doesn't go as planned, you know, something happens that upsets
29:56
Speaker 3: the market. How if they're not comfortable with it, well,
30:01
Speaker 3: they're not going to stick stick with it. And if
30:04
Speaker 3: they don't stick with it, they're guaranteeing themselves not getting
30:06
Speaker 3: to the end goal that they that they plan for,
30:12
Speaker 3: even though it seems like they're doing the right thing. So,
30:16
Speaker 3: you know, those are the types of things. I have
30:18
Speaker 3: to understand the attitudes and the experiences of investment of
30:25
Speaker 3: the client so that I can propose and enact the
30:28
Speaker 3: right type of portfolio for them, because it might be
30:33
Speaker 3: different for somebody else and you know, in mostly the
30:36
Speaker 3: same position, for instance, but maybe have an attitude difference
30:39
Speaker 3: as far as the market and the risks and that
30:42
Speaker 3: sort of thing that plays into it. You know, you're
30:45
Speaker 3: what's between the years is it can be the best
30:48
Speaker 3: thing for you or it could work against you. And
30:52
Speaker 3: and frequently in finance, it works against you. And because
30:56
Speaker 3: we all have certain experiences around money and markets that
31:01
Speaker 3: that like I say it, it it gets amplified as
31:06
Speaker 3: you get closer to needing that money to live off
31:09
Speaker 3: of and to last. So it's it's a you know,
31:14
Speaker 3: it is a balancing act. But that's it. That's any relationship.
31:17
Speaker 2: Right right exactly. And people have different goals.
31:20
Speaker 4: Uh.
31:21
Speaker 2: You know, some may want to, Hey, I want to
31:24
Speaker 2: you live part of the year at Myrtle Beach, or
31:28
Speaker 2: I want to live part of the year you know
31:29
Speaker 2: in wherever, or somebody say, you know, I'm just going
31:32
Speaker 2: to stay home. You know, I'm going to be a
31:36
Speaker 2: pretty regular lifestyle. You know those and those are the
31:39
Speaker 2: types of plans that you can have help help those
31:41
Speaker 2: folks with.
31:42
Speaker 3: Absolutely. You know, some people I want to I want
31:45
Speaker 3: an r V to travel.
31:46
Speaker 4: For a while.
31:47
Speaker 3: Okay, how do we put that into the budget, or
31:49
Speaker 3: can we do this? And oh, I have a I
31:52
Speaker 3: have a piece of land, uh up by the river
31:56
Speaker 3: somewhere in the woods, and I'd like to build a
31:59
Speaker 3: place there. You those are all things that that require
32:04
Speaker 3: money and require a little bit of planning and and
32:10
Speaker 3: thought as to how it might impact their long term future.
32:17
Speaker 3: Because every every every toy that you get comes with
32:20
Speaker 3: something else. It's called called maintenance, and you have to
32:26
Speaker 3: make sure that you know, not only can you afford
32:29
Speaker 3: to do it, but you can afford the ongoing costs
32:32
Speaker 3: that might be associated with that. You know, if you're
32:34
Speaker 3: going to travel, you know, it's it's not just for instance,
32:39
Speaker 3: buying the r V, but the fuel and you have
32:43
Speaker 3: to eat when you're out on the road. You know,
32:46
Speaker 3: those type of things. You know, what have you thought
32:47
Speaker 3: about what that's going to cost and how that will
32:49
Speaker 3: impact your finances? So, you know, we we have a
32:53
Speaker 3: lot of a lot of those type of conversations.
32:55
Speaker 2: And what's another beauty of your business is that you
32:58
Speaker 2: can meet with someone who thinks they're five years from
33:01
Speaker 2: retirement or someone who thinks they're thirty five years from retirement.
33:04
Speaker 3: Oh yeah, yeah, And you know, sometimes you have people
33:08
Speaker 3: come in and are worried about retirement, but they're so
33:12
Speaker 3: well prepared that I'm having the opposite conversation. It's not
33:16
Speaker 3: you know, you need to be cautious about this, you
33:18
Speaker 3: need to talk about this, but hey, you've done a
33:21
Speaker 3: good job. And sometimes it's almost I've met a client
33:26
Speaker 3: last week and talking about taking a cruise, very successful client,
33:33
Speaker 3: and was concerned about taking money out to take a
33:38
Speaker 3: cruise and I said, well, you know, you can certainly
33:43
Speaker 3: do that, and well we're just talking about getting like
33:46
Speaker 3: an inside cabin. I said, oh, you can even spring
33:48
Speaker 3: for the balcony, you know. So sometimes it's that is
33:54
Speaker 3: you know as well, and which is a real planning issue.
33:57
Speaker 3: I mean, you know, you've you've worked, you've said, you've invested,
34:01
Speaker 3: you've done all the right things, and now you're afraid
34:04
Speaker 3: to actually put it to work. And so sometimes it's
34:08
Speaker 3: it's it's strange to think, you know, this person has
34:12
Speaker 3: two million dollars and they are afraid to, you know,
34:16
Speaker 3: spend five thousand dollars on a vacation. Well that's a
34:21
Speaker 3: problem too, you know, it's a different kind of problem.
34:24
Speaker 3: It's a good problem. It's a problem most people would
34:26
Speaker 3: like to have, but but you know, sometimes it's knowing
34:30
Speaker 3: what you have will do for you and understanding it
34:35
Speaker 3: so that you make good decisions going forward. Right, you know,
34:38
Speaker 3: you don't want to deny yourself things that you could have,
34:41
Speaker 3: but you know you also don't want to overspend and
34:44
Speaker 3: end up in a in a problem.
34:46
Speaker 2: So how do the conversations get started? What do people
34:49
Speaker 2: do if they contact you?
34:50
Speaker 4: I mean, call our office.
34:52
Speaker 3: That's that's the best way. It's three zero four seven
34:55
Speaker 3: four six seven nine seven seven is the phone number.
34:59
Speaker 3: Just call and say you'd like to have a schedule
35:02
Speaker 3: attend minute consultation on the you know, introductory call. They'll
35:08
Speaker 3: put that on my calendar and at that time, when
35:11
Speaker 3: that time comes, we'll we'll have that phone call, get
35:13
Speaker 3: to know one another a little bit and decide if
35:16
Speaker 3: it makes sense if you want to have an appointment.
35:19
Speaker 3: We'll have a formal appointment after that. Generally, before that,
35:24
Speaker 3: we will have a questionnaire that we request filled out,
35:30
Speaker 3: so I have a good idea of where you are
35:33
Speaker 3: initially when we have the meeting, it'll be more productive.
35:36
Speaker 3: And the first meeting is not really a here's what
35:41
Speaker 3: you should do with your money. It's really a get
35:42
Speaker 3: to know one another, you know, in a little more
35:46
Speaker 3: detailed than in the introductory call. You know, what what
35:50
Speaker 3: have you done financially? You know over time, how have
35:54
Speaker 3: you saved? What have you saved? What are your experiences
35:57
Speaker 3: with investments? What's important to you going forward? How do
36:02
Speaker 3: you plan to use this money? When do you plan
36:04
Speaker 3: to retire? All of those things we talk about in
36:06
Speaker 3: that meeting, so that when I do come back with
36:11
Speaker 3: here's how we should approach this, you know, I have
36:14
Speaker 3: that information and that's how I've created that that path
36:18
Speaker 3: forward for you. It's a trust, absolute situation, right absolutely, yes,
36:23
Speaker 3: and you know I believe it or not. Sometimes I
36:27
Speaker 3: scratched my head and wonder, but I've been doing it
36:29
Speaker 3: for twenty five years now, so yeah, which, you know,
36:37
Speaker 3: I kind of joke with people it's the sweet spot
36:39
Speaker 3: of financial advising because when you're twenty five years old,
36:43
Speaker 3: nobody wants to give you their money because they don't
36:46
Speaker 3: don't think you know anything. If you're seventy years old,
36:48
Speaker 3: they think, why isn't this guy retired? So so I'm
36:54
Speaker 3: I feel like I'm in the sweet spot.
36:56
Speaker 2: Yeah, that's good, that's good, and you and I'm sure
37:00
Speaker 2: in your job, I mean, you you get a certain
37:03
Speaker 2: you wouldn't keep doing it if you get a certain
37:05
Speaker 2: amount of there's certain amount of satisfaction of seeing these
37:08
Speaker 2: things work.
37:09
Speaker 3: Oh, absolutely, absolutely, I mean, and like you say, sometimes
37:13
Speaker 3: it's helping people through situations that are unfortunate, but also
37:18
Speaker 3: it's it's helping people fully realize the potential of what
37:23
Speaker 3: they've worked for and saved for, you know. And oftentimes
37:28
Speaker 3: in retirement that's not about necessarily having things, but having
37:34
Speaker 3: time and freedom to visit grandchildren that might be around
37:38
Speaker 3: the country, things like that. So they're not always tangible things,
37:41
Speaker 3: but it's good to see people be able to live
37:44
Speaker 3: the lives that they have envisioned for themselves.
37:47
Speaker 2: John Good, talking to you again once again. The information
37:50
Speaker 2: folks can get in contact with you.
37:52
Speaker 3: Yep. Three oh four seven four six seven one seven seven,
37:56
Speaker 3: give us a call and we'll get you. We'll get
37:58
Speaker 3: you down for ten minute call.
38:00
Speaker 2: All right. John Bredett, fourth Avenue Financial. He survived the
38:03
Speaker 2: lightning strike. I live to tell about it, all right.
38:07
Speaker 2: Stay tuned. ABC News is next in local news. This
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