Latest / WCHS Network Podcasts / 02/17/2025 Retire Right Radio with John Burdette

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02/17/2025 Retire Right Radio with John Burdette · WCHS Network Podcasts

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Speaker 2: The views and opinions expressed on this program do not
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Speaker 2: necessarily reflect the views and opinions of five eight, WCCHS,
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Speaker 2: its employees, or WVRC Media. This is retire Right Radio,
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Speaker 2: a weekly show from John Verdead at Fourth Avenue Financial
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Speaker 2: that aims to answer your questions about financial planning, investing,
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Speaker 2: and how to retire right. Fourth Avenue Financial is located
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Speaker 2: in downtown Charleston at one seventy Court Street. More information
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Speaker 2: online at Fourth Avenue Financial dot com. Join the conversation
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Speaker 2: by calling three oh four three four five fifty eight
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Speaker 2: fifty eight or text three oh four nine three five
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Speaker 2: fifty oh eight. On retire Right Radio, let's go live
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Speaker 2: to the studio with host Dale Cooper and John Verdi
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Speaker 2: from Fourth Avenue Financial.
1:01
Speaker 3: Nature and oh there, we made it through the weekend.
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Speaker 3: Good morning. You're listening to retire Right Radio on five
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Speaker 3: AD w c HS, the Voice of Charleston. I'm Delle
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Speaker 3: Cooper in studio with me this morning. It's John Radet
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Speaker 3: for Fourth Avenue Financial. Good wintery morning, John. How are
1:15
Speaker 3: you doing this morning?
1:16
Speaker 2: Oh?
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Speaker 4: Pretty good for a cold President's Day.
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Speaker 3: Yeah. I didn't expect so much snow so quickly. You know,
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Speaker 3: the the forecast, and my kid, My kid's all about
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Speaker 3: the forecast. She has a weather app on her on
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Speaker 3: her tablet, and so she's always looking at the forecast.
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Speaker 3: So she told me, as a matter of fact, yesterday
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Speaker 3: she said, Daddy, it was supposed to be nicer than
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Speaker 3: this today. Herrain was supposed to start. It was supposed
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Speaker 3: to be a little warmer, I think, is what she
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Speaker 3: was looking at. And she didn't like the cold temperatures
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Speaker 3: coming back so much. But we persevere, We presevere.
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Speaker 4: Push, push right on through it. I woke up this
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Speaker 4: morning and I knew, oh gosh, it's gonna be a
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Speaker 4: rough morning because the first thing I heard was the snowplow.
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Speaker 3: Oh boy, ye all right, it's.
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Speaker 4: Like grinding against the road. It's like, oh, I better
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Speaker 4: look out the window.
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Speaker 3: We were up unfortunately late last night, and uh, at
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Speaker 3: one point my wife had to look outside for something.
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Speaker 3: There's annoyse or something outside. We opened up the door.
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Speaker 3: It went from like just rain and there wasn't anything
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Speaker 3: sticking till suddenly it was like, way, there's like snow
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Speaker 3: out there. Where did that come from?
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Speaker 4: Yeah, it's interesting. You know up on the up on
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Speaker 4: the hill, how much different it is? Yeah? Right, you
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Speaker 4: know it's like a shually. We covered with snow everywhere,
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Speaker 4: and you know, you get down here on the flat and.
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Speaker 3: It's not so much, not quite as much. Yeah, that's
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Speaker 3: very true. You go to calls where if you have
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Speaker 3: any questions about how you can retire right. We're not
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Speaker 3: just your amateur weather forecasters. We're also weather reporters. We're
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Speaker 3: also well John is your expert when it comes to
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Speaker 3: how you can retire right. If you have any questions
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Speaker 3: about how you can retire right this morning, give us
2:34
Speaker 3: a call. Three zer a four three four five fifty
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Speaker 3: eight fifty eight. Three zero four three four five fifty
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Speaker 3: eight fifty eight is the number that you can call
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Speaker 3: to get ahold of us here to uh for John
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Speaker 3: to be able to steer you in the right direction.
2:45
Speaker 3: You also find more information online. It's fourth Avenue Financial
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Speaker 3: dot Com. Fourth Avenue Financial dot com, spell off the
2:50
Speaker 3: whole thing, do that same search on Facebook and like
2:52
Speaker 3: the page, and you might want to do that because
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Speaker 3: we do have another Saturday event coming up at dollars
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Speaker 3: in donuts, Dollar to donuts, that's what we're calling it.
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Speaker 4: Right, Please please go on the Facebook and let us
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Speaker 4: know if you if you want to arrive to that
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Speaker 4: so I can get the donut acquisition strategies and make
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Speaker 4: sure we have enough for everybody.
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Speaker 3: Hey, you have to write size your donut delivery, trying
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Speaker 3: to make sure you get the right kind. That's right,
3:16
Speaker 3: all kinds of things going on. We can touch on
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Speaker 3: the markets and trends like we normally do. To touch
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Speaker 3: up the show. We're going to talk a little bit
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Speaker 3: about distribution rates and things like that a little bit
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Speaker 3: later on. If you need anything, if you have any
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Speaker 3: questions about tweaking what you're doing for your retirement, for
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Speaker 3: your financial planning, this is your opportunity to give us
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Speaker 3: a call, or you can text us three zero four
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Speaker 3: none three five five zero zero eight. Far as the
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Speaker 3: market goes, you know, there's some volatility that's that's built
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Speaker 3: into things right now, a little flipping back and forth
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Speaker 3: on some things that looks like, but there's.
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Speaker 4: Definitely some volatility. The market was up last week, pretty
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Speaker 4: pretty solid, but we had the inflation numbers out that
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Speaker 4: were a little hotter than expected. If if you've bought eggs,
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Speaker 4: you know this.
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Speaker 3: It didn't magically go away, what happened?
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Speaker 4: No, no, it did. So you know, we're in the
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Speaker 4: uh low threes for inflation, and of course the Fed
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Speaker 4: wants to that to be more in the two percent range.
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Speaker 4: And so it's it's kind of stalled out the last
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Speaker 4: six or eight months at this three percent level, and
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Speaker 4: you know, the hope is that it that it would
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Speaker 4: continue down, but it's it's it's not seeming to do
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Speaker 4: that right now. It's just stuck. Uh. That doesn't mean
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Speaker 4: us going back up to you know, like we had before,
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Speaker 4: but it's it's it's very sticky. So the Fed it
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Speaker 4: hasn't cut rates as planned this year, and now it
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Speaker 4: looks like the market and the expectations is that we
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Speaker 4: may only get one rate cut this year and maybe
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Speaker 4: none until until next year. So that's a you know,
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Speaker 4: that's a pretty big adjustment in expectations that the markets
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Speaker 4: had just in the last you know, month or two.
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Speaker 3: So that requires a little bit of a resettlement because
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Speaker 3: we had we had those baked in for a long time, right,
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Speaker 3: we expected the the rate cuts and they start looking
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Speaker 3: less likely. The market is like a you know, it's
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Speaker 3: like a huge levia thing. It doesn't all happen at once,
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Speaker 3: but there has to be like a little bit of
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Speaker 3: a reshuffling. Broadly speaking, if if the rates are not
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Speaker 3: expected to go.
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Speaker 4: Down, yeah, I mean that plays into a into a
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Speaker 4: whole lot of things. I mean things as simple as
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Speaker 4: you know, if you're buying a house, mortgage rates things.
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Speaker 2: Like that tell me about it.
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Speaker 4: But also for you know, the market, certain stocks do
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Speaker 4: better when interest rates are lower. And uh, some of
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Speaker 4: the some of the value oriented stocks that are high
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Speaker 4: dividend payers, well you know that high yield represents competition
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Speaker 4: to that dividend yield. So you know, when when rates
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Speaker 4: are falling or are lower than those look relatively attractive.
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Speaker 4: And so you know, those type of stocks we were
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Speaker 4: up because of the expectation, and they've been relatively flat lately.
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Speaker 4: That being said, you know, if you look at the earnings,
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Speaker 4: earnings are generally pretty good across really all segments of
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Speaker 4: the of the economy and all these earnings reports that
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Speaker 4: are coming in you have technologies. It's actually the it
6:16
Speaker 4: was the worst in a couple of years earnings. But
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Speaker 4: they still grew their earnings by about twenty plus percent,
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Speaker 4: so relatively speaking, the rate of growth was a little
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Speaker 4: bit slower. And and you see that in the marketplace,
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Speaker 4: those those magnificent seven stocks.
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Speaker 3: It's harder to multiply billions once you get up there,
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Speaker 3: I guess absolutely.
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Speaker 4: Yeah, eventually it's like, you know, how big can these
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Speaker 4: companies get. So you've had a little bit of a
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Speaker 4: leadership switch in that those stocks have have stalled out
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Speaker 4: to a degree, and you know, boring stocks like you know,
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Speaker 4: industrials and banking and even international is outperforming US this year,
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Speaker 4: which is a big surprise to a lot of folks.
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Speaker 4: So there again that that plays into the theme of
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Speaker 4: staying diverse five because you know, we could predict some
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Speaker 4: of these things even a month ago.
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Speaker 3: That it's interesting and you have such a different perspective
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Speaker 3: of this than than someone who's not a professional as
7:20
Speaker 3: far as with investing and planning for retirement things like that.
7:23
Speaker 3: One of the things that I'm privy to because it's
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Speaker 3: my service. I created the metro News text line that
7:28
Speaker 3: we use for all of our uh for all of
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Speaker 3: our shows on Metro News. So that includes talk line
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Speaker 3: and sports Line and my show Hotline and everything. And
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Speaker 3: so sometimes I'll get through and I'll start perusing through
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Speaker 3: some of the texts that came in for other shows.
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Speaker 3: It's interesting, and that's a broad place where you can
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Speaker 3: get kind of the temperature of the people or whatever.
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Speaker 3: And there was a little bit over the last couple
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Speaker 3: of weeks of people. And here's what I can't I
7:50
Speaker 3: can never determine the people that start complaining about their
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Speaker 3: stocks or their their retirement. Sometimes I don't know if
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Speaker 3: they're serious or if it's just because of the switchover
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Speaker 3: of the like the administration and stuff like. I know
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Speaker 3: that there's probably more volatility now than what there was.
8:08
Speaker 3: But broadly speaking, just like you said, it's not like
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Speaker 3: you can't find the gains. It's not like there's anything struggling.
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Speaker 3: But suddenly people are like sending in like, well this
8:15
Speaker 3: is great for my portfolio, or tell that to my
8:17
Speaker 3: four one K or you know, whatever it might be.
8:19
Speaker 3: It seems like we saw a lot of that last
8:21
Speaker 3: you know, like whoever the administration switches over, But this time.
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Speaker 3: Is there any like, do you have to protect yourself
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Speaker 3: against like the sort of the the whirlwind attitude of
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Speaker 3: things that are going on, make sure that you're in broadly profitable,
8:35
Speaker 3: long term serving types of investments like we're talking about,
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Speaker 3: or is it really just just more noise?
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Speaker 4: Well, I mean there are some unknowns out there that
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Speaker 4: are going to play themselves out, just like there is
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Speaker 4: at any any time rightly, you know, for the market, obviously,
8:55
Speaker 4: the wild card is the tariff what's going on there?
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Speaker 4: You know, will these things actually come to fruition or
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Speaker 4: are these negotiating tactics. You know, we saw the the
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Speaker 4: news that there were going to be the reciprocal tariffs
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Speaker 4: across even even some of the allies that we have
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Speaker 4: that they tariff some of our goods and we're going
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Speaker 4: to equalize those tariffs by But but it's not into
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Speaker 4: April first. Well why do you wait till April first?
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Speaker 4: Is that a is that a window to negotiate? And
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Speaker 4: so what will actually happen there? And so far it
9:36
Speaker 4: seems like the market is looking at a lot of
9:40
Speaker 4: that as negotiating tactics versus this is really all going
9:46
Speaker 4: to happen as advertised, so you know that that remains
9:50
Speaker 4: to be seen. You know, a global trade war is
9:54
Speaker 4: probably not something we want to be in. That's that's
9:57
Speaker 4: not good for consumers or or even companies with supply
10:01
Speaker 4: chains across the world. But the same token, there are
10:04
Speaker 4: certainly instances where one could claim we've been taken advantage
10:08
Speaker 4: of internationally in trade. So does something need to happen
10:13
Speaker 4: there maybe, But but you know, hopefully it's a scalpel
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Speaker 4: and not a club as far as the market is concerned,
10:22
Speaker 4: and right now the market is really pricing in that
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Speaker 4: you know, this will not be as widespread as advertised,
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Speaker 4: that it may be a negotiating tactic.
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Speaker 3: And it's sort of I mean, evidence would just as such,
10:38
Speaker 3: you know, I mean, as far as being a negotiating tactic,
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Speaker 3: and and really it would make more sense than than
10:44
Speaker 3: actually planning on slapping all these different tears long term
10:48
Speaker 3: one to you know, trade partners and things along those lines,
10:51
Speaker 3: as we saw pre COVID that actually can cause some
10:53
Speaker 3: some downstream issues that you don't really think about when
10:56
Speaker 3: people have to renegotiate supply lines and different things along
10:58
Speaker 3: those lines to avoid or to make themselves cost positive.
11:02
Speaker 3: You know, when trying to fill their own to fill
11:05
Speaker 3: their own inventories. If you have questions about technic, give
11:07
Speaker 3: us call this morning. Anything that you need to get
11:10
Speaker 3: on track about, give us call three zero four three
11:12
Speaker 3: four two eight one three one three four two eight
11:13
Speaker 3: one three one. You can text three zero four nine
11:15
Speaker 3: three five five zero zero eight to get a hold
11:17
Speaker 3: of John more debt for Fourth Avenue Financial. As we
11:19
Speaker 3: were talking about the the Dollars to Donuts event that's
11:22
Speaker 3: coming up. What what weekend was out again?
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Speaker 4: That's coming up this weekend, this weekend twenty seconds.
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Speaker 3: It's going to be this coming weekend. It's going to
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Speaker 3: be a vintage of vines in downtown Charleston. You can
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Speaker 3: let John or South Charleston. Yeah, yeah, Charleston. So here
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Speaker 3: the mound, Yeah, right near the mound in South Charleston.
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Speaker 3: You're gonna let John know on Facebook that you're coming
11:37
Speaker 3: so he can get kind of an idea of how
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Speaker 3: many donuts to supply. And if you haven't heard about
11:42
Speaker 3: us talking about this before, this is kind of an
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Speaker 3: informal event that John has put together once. Now he's
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Speaker 3: hoping to do it every month or so, where folks
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Speaker 3: just get together and talk about dollars and donuts. Basically
11:51
Speaker 3: what's going on.
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Speaker 4: What's you have on your mind if you want to
11:54
Speaker 4: want to chat about or to just a just a
11:58
Speaker 4: discussion that goes wherever you want it to go. Essentially.
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Speaker 3: You know what I've mentioned before about what I really
12:03
Speaker 3: like about something like this is you never know and
12:06
Speaker 3: from doing this program, I've learned this over the course
12:08
Speaker 3: of the course of years. You never know what great
12:11
Speaker 3: questions that somebody else has, you know, Like for me,
12:13
Speaker 3: it's listeners calling in with great questions, and you really
12:15
Speaker 3: learn a lot from what a listener asks. Same thing
12:17
Speaker 3: will happen with you know, you get a group of
12:19
Speaker 3: people that come in to talk about roughly the same thing.
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Speaker 3: Suddenly people ask really good questions, you know, insights that
12:25
Speaker 3: from it from a boots on the ground perspective, as
12:27
Speaker 3: somebody that's on the on the client side of things
12:30
Speaker 3: that has some questions that maybe could help out other
12:32
Speaker 3: clients or potential clients, or insights that allows you to
12:34
Speaker 3: kind of tee up some questions to inform some folks.
12:36
Speaker 3: I mean, that's always great to tap into, like sort
12:39
Speaker 3: of the crowdsourcing when it comes to questions and information
12:42
Speaker 3: and stuff to make sure things are answered, that they
12:45
Speaker 3: are really in the marketplace to be answered.
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Speaker 4: Yeah, And chances are if you have the question, there
12:49
Speaker 4: are other people that have the same correctly.
12:50
Speaker 3: Yeah.
12:51
Speaker 4: Right, So it's a great place to do that in
12:54
Speaker 4: a way that you know, there's not a big commitment
12:56
Speaker 4: with it. It's just just a place to come and
12:58
Speaker 4: chat about it with not really any obligation at all.
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Speaker 3: Yeah. So that I think that's a great event, and
13:03
Speaker 3: that's something you can you can check out. Of course,
13:05
Speaker 3: you can do it by registering on Facebook, or you
13:08
Speaker 3: can check out John online. It's first fourth Avetuve Financial
13:11
Speaker 3: dot com, Fourth Avenue Financial dot Com. You can find
13:14
Speaker 3: information over there as well. We talked about before. Before
13:17
Speaker 3: we go to the break here, we want to talk
13:18
Speaker 3: a little bit about the disbursement rates and or distribution
13:22
Speaker 3: rates and things that folks need to look into as
13:25
Speaker 3: far as making sure that they're they're fully efficient when
13:27
Speaker 3: it comes to that.
13:28
Speaker 4: Sure, you know, I think there's I hear a lot
13:31
Speaker 4: of really misconceptions over how much you can draw out
13:37
Speaker 4: once you reach retirement of your portfolio and make sure
13:41
Speaker 4: that it lasts over the course of your life so
13:43
Speaker 4: you don't run out of money at some point. And
13:46
Speaker 4: you know, we don't have heard the numbers about long
13:49
Speaker 4: term market returns of you know, diversified portfolio seven eight
13:55
Speaker 4: nine percent in the stock market ten eleven twelve percent
13:58
Speaker 4: over time, but your distribution rates are really much much
14:02
Speaker 4: less than that. And so sometimes there's this idea that, well,
14:07
Speaker 4: if the market grows by eight percent a year, I
14:09
Speaker 4: should be able to pull out eight percent a year
14:12
Speaker 4: to live off of that. And and the math doesn't
14:15
Speaker 4: quite work that way, and we can we can explore
14:17
Speaker 4: that a little bit after the break or or right now,
14:21
Speaker 4: whatever whatever we need to do for the program.
14:23
Speaker 3: Let's go to take a break, and then if folks
14:25
Speaker 3: have questions or anything like that, you can I get
14:27
Speaker 3: those questions in or give us a call. You can
14:28
Speaker 3: call three zero four three four two eight one three
14:30
Speaker 3: one three zero four three four two eight one through one,
14:32
Speaker 3: or you can text three zero four non three five
14:34
Speaker 3: five zero zero eight. Jomberdet is here from Fourth Avenue Financial.
14:37
Speaker 3: We're talking about how you can retire Right one Retire
14:39
Speaker 3: Right Radio. Every Monday morning at eight twenty you can
14:41
Speaker 3: tune in for sage advice from John Bredebt from Fourth
14:44
Speaker 3: Avenue Financial on how you can retire right and handle
14:46
Speaker 3: your financial planning into the future. Every Monday morning, eight twenty.
14:50
Speaker 3: You can find the podcast at WCHS network dot com
14:52
Speaker 3: slash retire Right. We'll take a break and be back
14:55
Speaker 3: right after this. You're listening to Retire Right Radio with
14:57
Speaker 3: John Bredet. I'm Dell Cooper. This is five adwch has
15:00
Speaker 3: the Voice of Charleston. Retire Right Radio was sponsored by
15:02
Speaker 3: Fourth Avenue Financial, which is solely responsible for its content.
15:05
Speaker 3: Security is offered through JW CALL Financial member Fenricipic. Investment
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Speaker 3: advice offered through JW CO Advisors. Fourth Avenue Financial, JW
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Speaker 3: Call Financial and JW CO Advisors are unaffiliated entities. The
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Speaker 3: opinions expressed by John Bredett should not be construed as
15:18
Speaker 3: specific investment, legal, or tax advice. All economic and performance
15:21
Speaker 3: information is historical and not indicative of future results. Investing
15:25
Speaker 3: may involve risk of loss of principle. Any tax advice
15:28
Speaker 3: on this show is not intended to be used by
15:30
Speaker 3: any person for the purpose of avoiding US federal or
15:32
Speaker 3: state tax penalties that may be imposed on such a person,
15:35
Speaker 3: and each listener should seek advice from their tax advisor
15:38
Speaker 3: or legal console on topics that arise from the show.
15:41
Speaker 3: John Bredett is not providing legal or tax advice. Nothing
15:44
Speaker 3: should be construed as solicitation of an offer to buy securities.
15:47
Speaker 3: This program is sponsored by Fourth Avenue Financial, which is
15:49
Speaker 3: solely responsible for its content.
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Speaker 3: You're listening to retire Right Radio one five. Will you
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Speaker 3: see HS the Voice of Charleston. Thanks so much for
17:20
Speaker 3: tuning in. When this Monday morning, John Burdada is here
17:23
Speaker 3: for Fourth Avenue Financial. If you have any questions about
17:25
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17:32
Speaker 3: four nine three five five zeros or eight. We tease
17:34
Speaker 3: right before the break. We want to talk about distribution
17:36
Speaker 3: rates and so forth a little bit. But John, go
17:38
Speaker 3: ahead and take over for that Fourth Avenue Financial located
17:40
Speaker 3: online Fourth Avenue Financial dot com. You can also do
17:43
Speaker 3: that search on Facebook. Located right here in downtown Charleston.
17:46
Speaker 3: It's one seventy Court Street. Across from the Town Center mall.
17:49
Speaker 4: Yeah. I was actually though I was getting into the
17:51
Speaker 4: bumper music. Yeah, yeah, right, I was ready for that
17:55
Speaker 4: on the cod But anyway, Yeah, So, distribution rates are
18:01
Speaker 4: a big misconception. I think that a lot of folks
18:03
Speaker 4: have and that if the market grows by eight percent,
18:07
Speaker 4: why can't you pull eight percent out? And the reason
18:11
Speaker 4: for that is in retirement, the math changes. You know,
18:16
Speaker 4: when you're younger and saving the volatility of the market
18:21
Speaker 4: really doesn't matter. If you're far away from retirement. You're
18:25
Speaker 4: just accumulating and when the market's down, you buy more
18:28
Speaker 4: shares of whatever the investment is.
18:30
Speaker 3: You're a point on the plot, and the noise until
18:33
Speaker 3: you get to that point doesn't really matter that much.
18:34
Speaker 4: It really doesn't matter a lot. I mean, you don't
18:36
Speaker 4: like the statements when they come, but if it's down,
18:39
Speaker 4: but it really you are a long term investor, and
18:42
Speaker 4: when you see those long term rates of return, oh,
18:45
Speaker 4: this fund grew by you know, ten percent over the
18:48
Speaker 4: last twenty years, Well you're going to get that rate
18:52
Speaker 4: of return because you're you know, a holder over that
18:55
Speaker 4: period of time. But in retirement that's not the case.
18:59
Speaker 4: You're no longer a long term holder, you're drawing money
19:02
Speaker 4: out every month, and the volatility works against you. You know,
19:06
Speaker 4: if the market is down twenty percent in a given year,
19:10
Speaker 4: which is possible to have happen every handful of years.
19:14
Speaker 4: We've had many of twenty percent pullbacks over the last
19:19
Speaker 4: you know, thirty years, which might be a course of
19:22
Speaker 4: a retirement. How are you going to, you know, take
19:26
Speaker 4: out a seven or eight percent distribution rate on top
19:29
Speaker 4: of a market being down twenty percent? You know, then
19:33
Speaker 4: how much money do you need to earn the following
19:35
Speaker 4: year to recoup that very difficult if you're taking too
19:39
Speaker 4: much out every year. So the math is totally different.
19:42
Speaker 4: And so if you look at the studies of distribution rates,
19:47
Speaker 4: then you've heard the rule of thumb about four percent.
19:49
Speaker 4: Probably that's more along the lines if you have a
19:53
Speaker 4: balanced portfolio, a prudent distribution rate somewhere in that range.
19:59
Speaker 4: And that's not a hard rule, but that's that's a
20:02
Speaker 4: rule of thumb that you can use and say, well,
20:07
Speaker 4: if the market grows by seven or eight percent in
20:11
Speaker 4: a moderate portfolio historically, like it has, and then you
20:15
Speaker 4: take a four percent distributionary, what are the odds that
20:18
Speaker 4: that lasts through a say a thirty year retirement, and
20:23
Speaker 4: around four percent, you get close to historically being able
20:29
Speaker 4: to achieve that without running out of money, you know,
20:34
Speaker 4: and then it's then some folks are like, well, why
20:37
Speaker 4: would I Why would I do that? Why would I
20:39
Speaker 4: just buy a CD or a bond it pays more
20:43
Speaker 4: than four percent? Maybe I could get five percent on
20:46
Speaker 4: a bond. Why would I just buy that and take
20:49
Speaker 4: the interest off of it. Well, the problem if you
20:53
Speaker 4: do something like that. It sounds on the face of
20:55
Speaker 4: it like, yeah, that would work. But when you do that,
21:00
Speaker 4: the bond will eventually mature, and then you have the
21:04
Speaker 4: risk of what interest rates are going to be in
21:07
Speaker 4: the future. You know. Imagine if you would have bought
21:09
Speaker 4: a bond paying six or seven percent, you know, twenty
21:14
Speaker 4: years ago, and then it matured when interest rates were
21:18
Speaker 4: a couple of years ago, when interest rates were zero,
21:21
Speaker 4: your income would have been devastated. You would have had
21:25
Speaker 4: a you know, your your principle would have been there,
21:27
Speaker 4: but it wouldn't have earned any money if you if
21:30
Speaker 4: you followed that strategy. Also, what point what those things
21:35
Speaker 4: do as the four percent distribution and the diverse flood portfolio.
21:39
Speaker 4: If over time, it grows by seven. What does that mean?
21:43
Speaker 4: That means the pot of money is maybe slowly growing
21:46
Speaker 4: hopefully it's you know, continues to grow slowly. What does
21:50
Speaker 4: that do for your income? It allows you to increase
21:53
Speaker 4: your income because the four percent is of a growing
21:57
Speaker 4: pot of money. That helps you up with inflation, you know.
22:02
Speaker 4: So there are all kinds of reasons that that distribution
22:05
Speaker 4: rate needs to be much less than the overall growth
22:07
Speaker 4: rate of the portfolio, so it satisfies all the needs
22:11
Speaker 4: that you have in retirement, not just in lifetime income,
22:14
Speaker 4: but also keeping up with inflation.
22:17
Speaker 3: And that's a really good explainer on exactly why that
22:21
Speaker 3: that's the way that it is. And I mean people
22:23
Speaker 3: sometimes might not quite understand it, or get impatient about
22:25
Speaker 3: something like that, or not really understand how the mechanics
22:27
Speaker 3: of the finances work. But it makes perfect sense and
22:30
Speaker 3: really is to protect you as well, the investors protect
22:33
Speaker 3: you as well, to make sure you don't make any
22:35
Speaker 3: heavy handed mistakes.
22:36
Speaker 4: Right. And so when you look at a retirement portfolio
22:40
Speaker 4: and let's say let's say you're fortunate, you retire with
22:43
Speaker 4: a million dollars, that's forty thousand dollars a year in
22:47
Speaker 4: income that you can draw from that, and a lot
22:49
Speaker 4: of times folks look like, well, forty thousand, that doesn't
22:51
Speaker 4: seem like, you know, it seems like it should be
22:54
Speaker 4: more than that. Well, you can be more than that,
22:57
Speaker 4: but every dollar above that you take, you're exposed to
23:00
Speaker 4: yourself to greater and greater risk.
23:02
Speaker 3: That's a great point. One of the things that this
23:05
Speaker 3: kind of triggered a memory. It's not exactly the same thing,
23:07
Speaker 3: but you know, during during the COVID time, when the
23:11
Speaker 3: when the government in different banking institutions and stuff, made
23:14
Speaker 3: it easier for people to access some of their money.
23:17
Speaker 3: They reduced or remove some of the penalties for for
23:20
Speaker 3: withdrawing money and things like that, and some people probably
23:23
Speaker 3: at the time had to take some money to keep
23:25
Speaker 3: to keep a float and different things like that. That happens,
23:28
Speaker 3: and you want to avoid that at all costs, but
23:30
Speaker 3: you know, a pandemic happens every once in a while.
23:33
Speaker 3: One of the things that that I heard a couple
23:35
Speaker 3: of people that's done and I don't want to exactly
23:37
Speaker 3: understand how this works, and maybe this is something you
23:39
Speaker 3: can help with. Somebody who takes a a loan against
23:43
Speaker 3: a position that they have in an investment, and without
23:48
Speaker 3: touching the principle of that investment, and then at some
23:50
Speaker 3: point in time later that investment, the stock drops to
23:54
Speaker 3: such a degree that they came close to having a
23:56
Speaker 3: margin call on the on the amount that they had invested.
23:59
Speaker 3: I was and exactly sure what that meant, but they
24:01
Speaker 3: were really panicking over if they would if they would
24:04
Speaker 3: have had to meet the margin call on that What
24:05
Speaker 3: what is that sort of Number One, it's kind of
24:07
Speaker 3: dangerous to borrow against your your investments anyway, because something
24:11
Speaker 3: like this could happen.
24:12
Speaker 4: Yeah, I mean, anytime you take on debt or leverage,
24:16
Speaker 4: your upside has multiplied, but your downside is multiplied, so
24:20
Speaker 4: so it makes the moves more extreme. And essentially a
24:26
Speaker 4: margin without going too deep into the weeds, you can
24:30
Speaker 4: borrow against your portfolio. Certain things have different margin levels,
24:35
Speaker 4: you know, stocks and bonds have a little bit different
24:39
Speaker 4: margin requirements of that sort of thing. But essentially you
24:43
Speaker 4: can borrow money against your portfolio and if the stock value,
24:49
Speaker 4: though falls, the brokerage firm or the lending institution comes
24:55
Speaker 4: back to you and says, hey, we've got to liquidate
24:58
Speaker 4: all your portfolio to pay the loan off or you
25:00
Speaker 4: need to cough up this money if you want to
25:03
Speaker 4: keep your portfolio, because the collateral value has fallen essentially
25:09
Speaker 4: when the stock falls and the loan's not secured anymore.
25:14
Speaker 3: So it's the same pressures as a bank run really
25:16
Speaker 3: in a lot of ways, just for an individual.
25:18
Speaker 4: Yeah, and you've got to come up with that money,
25:20
Speaker 4: or you've got to liquidate the portfolio. And you know,
25:25
Speaker 4: like you say, the more leverage you have, the more
25:27
Speaker 4: exposure you have, and smaller incremental moves can can have
25:34
Speaker 4: drastic effects on the portfolio.
25:37
Speaker 3: If somebody had had equity in their home and they
25:40
Speaker 3: bought or they borrowed against a portfolio instead, I don't
25:44
Speaker 3: know the finances behind it, but I'm thinking to myself,
25:46
Speaker 3: the home seems like a safer thing to pull money
25:48
Speaker 3: out of than your investments. But I don't know individual circumstances.
25:52
Speaker 3: That just seems a little scared, And it seems like
25:54
Speaker 3: it would be a little little scary if you're worried
25:56
Speaker 3: about a margin call of some sort along those lines.
25:58
Speaker 4: Yeah, and you know, and a lot of folks to
26:00
Speaker 4: get in trouble say well, I can borrow money against
26:03
Speaker 4: my portfolio and buy more stocks. Well you can, and
26:07
Speaker 4: over time it's like, well, the math should work.
26:10
Speaker 3: Well.
26:10
Speaker 4: The problem is the year that it doesn't. You know,
26:13
Speaker 4: the more leverage you have, that bad year can wipe
26:17
Speaker 4: you out.
26:19
Speaker 3: This kind of started, well, this is what we call
26:22
Speaker 3: gigwork now, as far as people that drive ubers or
26:25
Speaker 3: delivery services or different things along those lines. Back when
26:29
Speaker 3: I was younger, people did stuff like this all the time.
26:31
Speaker 3: We didn't call it gig work. But people would take
26:33
Speaker 3: on either like part time jobs or they'd be doing
26:35
Speaker 3: something on the side. And sometimes they did that purely
26:37
Speaker 3: to bolster what they were putting into their retirement. Like
26:40
Speaker 3: they had their normal job that took care of the
26:41
Speaker 3: the p's and q's throughout the course of the week.
26:45
Speaker 3: They put a little bit of money back, but they
26:46
Speaker 3: knew that to get to X amount for what they
26:49
Speaker 3: where they were right now, there was only so much
26:51
Speaker 3: they could cut. There was a stir as they could
26:53
Speaker 3: possibly be with their expenses. So sometimes you have to
26:56
Speaker 3: get a second job if you really want to make
26:57
Speaker 3: that work. And it sounds to.
26:59
Speaker 4: That or bring elon Muskin right right, yeah, exactly, there's
27:03
Speaker 4: got to be more expenses down there.
27:04
Speaker 3: Somewhere you can cut those off. But but that is uh.
27:08
Speaker 3: And and people, I think people look at gigwork completely
27:11
Speaker 3: differently now to some degree than they did when I
27:13
Speaker 3: was younger, because it was considered like part of the household.
27:17
Speaker 3: Like sometimes you know, you had a mom and a
27:18
Speaker 3: dad and one of them had a second drop on
27:20
Speaker 3: the side to help put into retirement, to help make
27:21
Speaker 3: the bills. You know, you would say help make the
27:23
Speaker 3: help pay the bills. But a lot of times what
27:25
Speaker 3: that means is you help pay the bills so you
27:27
Speaker 3: have money to put it into savings somewhere, you know.
27:29
Speaker 3: So sometimes we talk about the debt snowball and things
27:31
Speaker 3: like that, and that definitely works. But sometimes the X
27:34
Speaker 3: factor is simply you just need more cash. You need
27:36
Speaker 3: more money, Yeah, no doubt about it.
27:38
Speaker 4: I mean when you look at the those steps we've
27:40
Speaker 4: talked about before about building wealth, I mean the first
27:44
Speaker 4: thing is the income. You know, you you can affect
27:48
Speaker 4: your income by acquiring skills, services, or like say doing
27:53
Speaker 4: is a secondary job. You know, serving in the marketplace
27:58
Speaker 4: at a higher level was your skill. You know, you
28:00
Speaker 4: may earn more money. That is that is square one,
28:04
Speaker 4: because without the income, nothing else is going to you know,
28:08
Speaker 4: fall into place. So that's the easiest way sometimes to
28:13
Speaker 4: to to change the scenario that you're in. And then,
28:17
Speaker 4: no matter what you're earning, you know, target that twenty
28:21
Speaker 4: percent savings rate. And if you can start that when
28:24
Speaker 4: you're young, before you tie into all these expenses that
28:29
Speaker 4: come with life, it's a whole lot easier. You know,
28:32
Speaker 4: you're out of college, you get your first job, you
28:35
Speaker 4: just pretend you make twenty percent less right from the right,
28:38
Speaker 4: from the getting point, and it's very easy to adjust
28:42
Speaker 4: yourself and your lifestyle and your living standards to that.
28:46
Speaker 4: And and then as you get raises, you know it,
28:51
Speaker 4: you've already done the hard work right from the start.
28:55
Speaker 4: It's much more difficult to get to the rates of
28:57
Speaker 4: savings the longer you wait and into life, because you've
29:01
Speaker 4: you've committed yourself to so many things, you know, car payments,
29:06
Speaker 4: house payments, and you know all these things that go
29:08
Speaker 4: along with that. You know, things that were are considered
29:13
Speaker 4: when you're when you're twenty years old, you consider certain
29:17
Speaker 4: things a luxury that when you're thirty years old you
29:20
Speaker 4: just expect, you know, going out to dinners and doing
29:24
Speaker 4: things like that. You know, those are expensive things. And
29:28
Speaker 4: if you've built those habits and you're not saving the
29:31
Speaker 4: right amount, at some point, well, now what do you do?
29:35
Speaker 4: You have to sacrifice some of those things that you desire,
29:39
Speaker 4: and it feels it feels bad because you had and
29:43
Speaker 4: now you feel like you're going backwards in lifestyle where
29:47
Speaker 4: if you start young, you haven't built those expectations yet.
29:51
Speaker 3: What you do is so hugely important in educating folks
29:55
Speaker 3: on the proper way to do things and and to
29:58
Speaker 3: put a system in place. Of course, you're expertise is
30:00
Speaker 3: is finally honed to help folks do this. But I
30:03
Speaker 3: also think a lot of what you instruct and teach
30:06
Speaker 3: and show people how to do now, at one point
30:08
Speaker 3: in time, was a little bit more common knowledge. You know,
30:11
Speaker 3: I think that we've lost a little bit of resolution.
30:14
Speaker 3: You talk about, you know, acting like you get paid
30:17
Speaker 3: twenty percent less than what you actually do to In fact,
30:19
Speaker 3: I always think, you know, I always look back at
30:20
Speaker 3: some way like my mom and I talk about her
30:21
Speaker 3: own lot on that relatively modest income for most of
30:24
Speaker 3: your career. But for example, she worked at a job
30:27
Speaker 3: where she got holiday bonuses every single year. She already
30:30
Speaker 3: worked into her budgeting to do holiday shopping, so that
30:34
Speaker 3: was part of her regular budget. So at the end
30:35
Speaker 3: of the year, she didn't need the bonus. She had
30:37
Speaker 3: her budgeting in place because she had it budgeted for
30:40
Speaker 3: holiday shopping and everything. What happened to that bonus that
30:42
Speaker 3: just went right into her investment, right into her retirement.
30:46
Speaker 3: And that discipline that allows you to do something like
30:49
Speaker 3: that because you were already planning, you already budgeted out
30:51
Speaker 3: what you had to do, allowed for when an opportunity
30:53
Speaker 3: like that came up, you're not struggling to say, hey,
30:56
Speaker 3: I really needed that. That's something that I can use
30:58
Speaker 3: right now today. You're like, hey, this is a fall
31:00
Speaker 3: I'm going to put it straight into investments. It's not
31:02
Speaker 3: like she was wealthy, she was just well budgeted. And
31:04
Speaker 3: it really makes all the difference in the world to
31:06
Speaker 3: make sure that you're working the process and maximizing whatever
31:10
Speaker 3: money you do make.
31:11
Speaker 4: Yeah, to to to a large degree, it's it's not
31:15
Speaker 4: what you make, it's what you do with what you make.
31:17
Speaker 4: It's those commitments that you make and and that make
31:20
Speaker 4: the difference. You know, most folks that are that are
31:24
Speaker 4: gainfully employed have the ability, should have the ability to
31:30
Speaker 4: make savings a regular habit, savings an investment of regular habit.
31:35
Speaker 4: And if not, there's a good chance that if you
31:39
Speaker 4: look at the budget, you know, it'll be easy to
31:42
Speaker 4: see why you can't, you know, things like I say,
31:46
Speaker 4: things seem like necessities when when actually they're they're they're wants,
31:53
Speaker 4: not needs. And the longer you've been in that habit,
31:57
Speaker 4: the harder it is to break that psychologically. And uh,
32:03
Speaker 4: you know, sometimes recognizing that just can help you break that,
32:08
Speaker 4: you know, rather than you know, stepping back and and
32:11
Speaker 4: and I think that's a lot of times what an
32:13
Speaker 4: advisor can can help with because it's a it's a
32:16
Speaker 4: outside party, disinterested party, uh ill, disinterested is not not
32:22
Speaker 4: maybe the right word, but it's a it's another pair
32:25
Speaker 4: of eyes that's not quite as emotionally attached to some
32:28
Speaker 4: of the decisions that you're making. And and I think
32:32
Speaker 4: largely that's what I do, Uh, when I work with folks,
32:37
Speaker 4: it's it's, you know, not just with their budget, but
32:40
Speaker 4: with their investing and the habits that they have, you know,
32:45
Speaker 4: adding a little bit of accountability, adding a little bit
32:48
Speaker 4: of advice that is that is not so emotionally wrapped
32:54
Speaker 4: up in into to a person's individual you know, feelings
32:59
Speaker 4: about money and their lifestyle, that sort of thing.
33:02
Speaker 3: Yeah, that's great advice as always from Dahmer dat at
33:04
Speaker 3: Fourth Avenue Financial. Probably time for a quick fun coffee,
33:06
Speaker 3: want to get in before we leave the airways this morning?
33:08
Speaker 3: Three is are a four three four two eight one
33:09
Speaker 3: three one three four two eight one three one Fourth
33:11
Speaker 3: Avenue Financial one line. It's fourth Avenue Financial dot com.
33:14
Speaker 3: Fourth Avenue Financial dot com. You spell out the whole thing.
33:16
Speaker 3: Do that same search on Facebook and like the page.
33:18
Speaker 3: Be a cap out to date on upcoming events like
33:20
Speaker 3: Dollars to Donuts which is coming up this Saturday, Evintage
33:22
Speaker 3: in Bidens in South Charleston, or the Mound where you
33:25
Speaker 3: can just show up and talk about. Uh, you don't
33:27
Speaker 3: have to bring the donuts. John provides those, so it's
33:29
Speaker 3: not like donut is the fee for entry. You know,
33:31
Speaker 3: you can show up and there'll be donuts there.
33:33
Speaker 4: Now, please please go on Facebook and uh and let
33:37
Speaker 4: us know you're coming so I can get enough donut.
33:39
Speaker 6: Yeah.
33:39
Speaker 3: There's nothing worse than showing up and expecting donuts and
33:42
Speaker 3: doughnuts to have been there, but then they're out of donuts.
33:44
Speaker 2: When you show up.
33:45
Speaker 3: I want that.
33:45
Speaker 4: I don't want people to get rowdy in there.
33:49
Speaker 3: And by god, if you don't have those donuts, I
33:51
Speaker 3: never know what what might happen as far as those goes.
33:54
Speaker 3: John Radabt with Fourth Avenue Financial, let me get to
33:56
Speaker 3: the details out to you one more time. We still
33:58
Speaker 3: have a couple of minutes left today, but always a
34:00
Speaker 3: rushing up to finish up the show. So let me
34:01
Speaker 3: make sure we get the information out for you today.
34:03
Speaker 3: So Fourth Avenue Financial Online, Fourth Avenue Financial dot com
34:06
Speaker 3: on Facebook, Fourth Avenue Financially, you spell out the whole thing.
34:09
Speaker 3: Located at one seventy Court Street. That's downtown Charleston, across
34:12
Speaker 3: from the town Center, mall right next to National Travel.
34:14
Speaker 3: The phone number three zero four seven four six seven
34:16
Speaker 3: non seven seven three zero four seven four six seven
34:19
Speaker 3: nine seven seven where you can get a hold of
34:20
Speaker 3: Fourth Avenue Financial. Retire Right Radio is a service every
34:24
Speaker 3: Monday morning at eight twenty right here on five eight
34:26
Speaker 3: w c HS. John's been doing this show. How long
34:28
Speaker 3: we've been doing this now? I don't even know, you know,
34:31
Speaker 3: three years coming up on three. O think at least
34:35
Speaker 3: three I mean, I know, I have to think about
34:37
Speaker 3: it was before COVID, right, it was, and it was
34:39
Speaker 3: before COVID for five years maybe probably, Holy Kyle, we've
34:42
Speaker 3: been doing this show for a while, so no wonder,
34:45
Speaker 3: you know what. I know what's going on when it
34:47
Speaker 3: comes to how to protect your retirement. But John can
34:49
Speaker 3: always steer you in the right, the right direction. You
34:51
Speaker 3: can check out all the podcasts on the website WCHS
34:54
Speaker 3: network dot com slash retire right is where you can
34:56
Speaker 3: find those podcasts and how many of our years we
34:58
Speaker 3: have of them. They're all up there, so you can
35:00
Speaker 3: you can go back and listen to those. Occasionally, when
35:02
Speaker 3: you're out, I'll go and I'll replay a show from
35:07
Speaker 3: the same week of the previous year. I'm just curious
35:10
Speaker 3: to see what it would sound like depending on what
35:12
Speaker 3: it was like. Sometimes we'll do these episodes where we
35:14
Speaker 3: talk more about topics rather than just the stuff of
35:16
Speaker 3: the day, and I like doing that sometimes because it's like, oh, hey,
35:19
Speaker 3: it's sixty five degrees outside. You're like, no, it's not.
35:23
Speaker 4: Well, I thought you were going to check up on
35:24
Speaker 4: my advice and see how it played out over the years.
35:27
Speaker 3: Well, it always works. The market's up right, Charlie speaking,
35:31
Speaker 3: it always works. John, your debt with Fourth Avenue Financial.
35:33
Speaker 3: Thanks so much for your time. Appreciate you coming in
35:35
Speaker 3: sharing some of the wisdom some of the things that
35:36
Speaker 3: folks need to do to help them get ahead of
35:38
Speaker 3: the curve when it comes to retiring. Right, and we'll
35:41
Speaker 3: hear you back here next Monday morning. But folks can
35:43
Speaker 3: check out dollars to donuts this Saturday at what time
35:46
Speaker 3: is it? Ten am? Ten am at Vintage and Bidens
35:49
Speaker 3: and South Charleston's near them at South Charleston near the Mound.
35:52
Speaker 3: You can check out dollars to donuts and go to
35:53
Speaker 3: Fourth Avenue Financial on Facebook and let them know that
35:57
Speaker 3: you'll be showing up.
35:58
Speaker 4: All right, sounds good. Everyone's a safe and warm.
36:01
Speaker 3: Yeah, stafe and warm. And uh, let's hope that spring
36:03
Speaker 3: comes comes along. Cranney Sit all right, Hodell, John, thanks
36:05
Speaker 3: so much for your time. I appreciate that.
36:06
Speaker 2: And John.
36:07
Speaker 3: More debt with foth Abit of Financial. I'm Dell Cooper
36:09
Speaker 3: coming up next Dave Allan five eighty Live. After that
36:11
Speaker 3: it will be Dave and TJ on Talk one and
36:14
Speaker 3: then I'll be back this afternoon with Dave Weekly on
36:15
Speaker 3: Hotline at three oh six thanks so much for tuning in. Everyone,
36:18
Speaker 3: you're listening.
36:19
Speaker 6: To five A w c HS A M ninety six
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Speaker 6: point five Don Charleston one zero four point.
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Speaker 2: Five Cross Lane of w v RC Media Station. We're
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Speaker 2: proud to live here too,