Latest / WCHS Network Podcasts / 08/25/2025 Retire Right Radio with John Burdette

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08/25/2025 Retire Right Radio with John Burdette · WCHS Network Podcasts

0:00
Speaker 1: Unlock your dream property with Meeks Realty Group, where Rich
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Speaker 1: the realtor makes real estate dreams a reality, whether it's
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Speaker 1: residential or commercial. We've got Charleston to Huntington covered. Your
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Speaker 1: Contact us at Meeks dot us.
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Speaker 2: The views and opinions expressed on this program do not
0:18
Speaker 2: necessarily reflect the views and opinions of five eight WCCHS
0:22
Speaker 2: its employees or WVRC Media. This is Retire Right Radio,
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Speaker 2: a weekly show from John Verdet at Fourth Avenue Financial
0:31
Speaker 2: that aims to answer your questions about financial planning, investing,
0:34
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
0:46
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
0:52
Speaker 2: fifty oh eight. On Retire Right Radio, let's go lide
0:57
Speaker 2: to the studio with host Dale Cooper and John Verdett
0:59
Speaker 2: from to have any financial games anyway.
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Speaker 3: If it's a good morning to you, you're listening to
1:04
Speaker 3: We're ty you Right Radio on five ad w c
1:06
Speaker 3: HS the Voice of Charleston. I'm Del Cooper. Thanks for
1:08
Speaker 3: tuning in on this Monday morning. Congratulations you made it
1:11
Speaker 3: through the weekend. If if like me, this morning you
1:13
Speaker 3: opened up the door to go to get them to work.
1:15
Speaker 3: I opened up the door about seven o'clock for the
1:17
Speaker 3: first time this morning to step outside, and it fell
1:20
Speaker 3: a football season suddenly, John, It's glorious. It is really nice.
1:23
Speaker 3: Like what happened Like suddenly, It's like there was some
1:26
Speaker 3: football pick skin thrown around some this weekend and suddenly
1:28
Speaker 3: the weather's like, oh, we better catch up, and uh boy,
1:31
Speaker 3: I tell you what it was like, taking the pressure
1:34
Speaker 3: off a little bit this morning. It was nice. Yeah,
1:37
Speaker 3: no doubt about it.
1:38
Speaker 4: Speaking of football, I've been planning a football trip to
1:42
Speaker 4: Arizona with some friends from high school in college. So
1:47
Speaker 4: we're we're getting in to the swing of that too.
1:49
Speaker 3: To go to a to go WU game, to the
1:52
Speaker 3: WU game down there. That'll be fun. And yeah, the
1:55
Speaker 3: group text is pretty comical. That's pretty good, you know.
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Speaker 3: That would be a I don't have a huge desire
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Speaker 3: to go to like the Kansas's depending on where in Texas.
2:06
Speaker 3: I don't have a huge desire. But Arizona. I mean,
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Speaker 3: I've I lived in New Mexico before, and I've been
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Speaker 3: too Arizona a lot. It's a great area, man. You
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Speaker 3: can do all kinds of stuff down there, not only
2:14
Speaker 3: for like tailgating and for gaming stuff, but just the
2:18
Speaker 3: nature of the outdoors out there. There's just so much
2:19
Speaker 3: to do. Arizona a great place. Yeah.
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Speaker 4: Yeah, Conferences frequently are there, yeah yeah, yeah, so it's nice.
2:26
Speaker 4: But yeah, it started into a football slash golf trip,
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Speaker 4: and it'll be fun to get away.
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Speaker 3: I had a buddy of mine that when I managed
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Speaker 3: mortgage company years and years and years ago, he was
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Speaker 3: my assistant manager, and he moved to Arizona, moved to
2:41
Speaker 3: the Phoenix area. I mean it was still big, but
2:43
Speaker 3: it was, you know, twenty five years ago now, so
2:45
Speaker 3: it was before it really really blew up. He went
2:48
Speaker 3: out there and got into mountain climbing and started his
2:51
Speaker 3: own his own God service. And that's I mean, he's
2:54
Speaker 3: a little older than I am now, but that's what
2:56
Speaker 3: he's doing into his fifties. He's doing God work at
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Speaker 3: national parks and stuff out there, having a great time. Man.
3:01
Speaker 3: It's a pretty good second part of your life to
3:03
Speaker 3: move out to the Southwest and to become a mountaineer.
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Speaker 4: That's not too bad, not bad at all. No, that
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Speaker 4: that area is amazing. It's like over four million people now, yeah,
3:12
Speaker 4: it's just crazy.
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Speaker 3: But when I lived in Albuquerque, it was before they
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Speaker 3: finished the highway that went around the city, and it
3:19
Speaker 3: was just it was a city of over a million
3:20
Speaker 3: people at the time, but it was like every street
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Speaker 3: was like mccorkyl right right, possible to get around.
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Speaker 4: When you fly in it, especially at night, it's like
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Speaker 4: you're in the city, city, city, city, and then there's
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Speaker 4: a last house and then it's blackness forever.
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Speaker 3: The mesa just just blacks out. It's amazing. I love
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Speaker 3: the Southwest. It's so startlingly different from what we're used
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Speaker 3: to seeing here as as far as landscape and stuff
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Speaker 3: like that goes. We forget how big the country is,
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Speaker 3: you know, I mean, the United States is so huge.
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Speaker 3: We have these different regions that in another part of
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Speaker 3: the world would be different countries all into their own.
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Speaker 3: You know, this country is more desert, this country is
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Speaker 3: more mountainous. So it's just amazing that we get to
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Speaker 3: see all these things in our own countries. Yet some stuff.
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Speaker 3: We're gonna have a great discussion this morning, more about finances,
4:03
Speaker 3: not about other places in the United States is but
4:06
Speaker 3: you're welcome to give us to call this morning if
4:08
Speaker 3: you need some help on how you can retire. Right.
4:09
Speaker 3: We want to talk about a lot of different things
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Speaker 3: this morning, including a look back on to oh where
4:14
Speaker 3: the market is now and what was revealed last week.
4:17
Speaker 3: The thing that I think that has been if it
4:20
Speaker 3: wasn't obvious before, it should be obvious now. And you've
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Speaker 3: cautioned this, and we talked about all the time separating
4:26
Speaker 3: like sort of vibes from the reality, headlines from reality
4:29
Speaker 3: and stuff like that. There's a lot of chaos in
4:31
Speaker 3: the headlines right now, but the market's still just doing
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Speaker 3: its job.
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Speaker 4: Yeah, I mean, last week the market responded well to
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Speaker 4: Drone Pile, the FED chair his speech and Jackson Hole
4:42
Speaker 4: the meeting that they have there, and the expectations of
4:47
Speaker 4: a rate cut are now back to pretty certain. You know,
4:53
Speaker 4: we're going to have a quarter point rate cut next
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Speaker 4: next month, so that'll start the process. You know, the
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Speaker 4: jobs mark, it is slowing, but it's still growing, but
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Speaker 4: it's growing slow, and there's worry that that could deteriorate,
5:07
Speaker 4: and of course inflation is still an issue, you know,
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Speaker 4: with the with the tariffs, as those costs filter through,
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Speaker 4: how will that effect.
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Speaker 3: A lot of cases, we're just now starting to get
5:18
Speaker 3: to the point where we're actually going to realize tariff
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Speaker 3: effects from what understands or when a lot of places,
5:22
Speaker 3: depending on where supply and everything was. It wasn't like
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Speaker 3: it's something you just flipped a switch and it was overnight.
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Speaker 4: Right right, and and and of course there is an
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Speaker 4: expectation that inflation will pop up. It's just what will
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Speaker 4: happen after it pops up? Will it be a one
5:37
Speaker 4: time event? Historically that is the case. It kind of
5:40
Speaker 4: resets and then and then we're back to more of
5:43
Speaker 4: a normal pace of inflation from that new level. But
5:47
Speaker 4: but we'll see, and I think the FED has been
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Speaker 4: very cautious waiting to see how that how that plays out. So,
5:54
Speaker 4: you know, if we started getting the rate cuts, the
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Speaker 4: expectation then would be that normally, you know, once you
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Speaker 4: start that cycle, there will be several you know, over
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Speaker 4: a period of you know, months or or stretching over
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Speaker 4: next year, the expectation would be rates would continue to
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Speaker 4: get lower.
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Speaker 3: Yeah, and it was, It's interesting because we watched this
6:16
Speaker 3: thing and we talk about it for the course of
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Speaker 3: this show, and I feel like that, you know, things
6:21
Speaker 3: like watching the FED and rate cuts. I don't know.
6:23
Speaker 3: I it's just because I'm older and that's what adults do,
6:25
Speaker 3: or if it's something that we talk about more now
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Speaker 3: than we used to fifteen or twenty years ago, or
6:30
Speaker 3: whatever it is. And my impression is is that, you
6:34
Speaker 3: know the old argument from ignorance thing, where a lot
6:36
Speaker 3: of people think that something they observe something for the
6:39
Speaker 3: first time, they're like, man, that seems really chaotic. There
6:41
Speaker 3: must be something wrong. I feel like we get a
6:43
Speaker 3: lot of that sometimes as people start paying attention more
6:45
Speaker 3: to the financial market, where maybe we didn't used to
6:47
Speaker 3: fifteen or twenty years ago. If you don't have that
6:50
Speaker 3: history of knowledge on what's going on, then anything that
6:52
Speaker 3: seems wild in your experience for the first time, it
6:55
Speaker 3: seems like, oh, my goodness, what the heck's going on here?
6:57
Speaker 3: This is crazy, Whereas people that's been observing it for
6:59
Speaker 3: a long time, like yourself, people that are in various
7:02
Speaker 3: industries and stuff like that, don't have that same reaction.
7:04
Speaker 3: And I think we could learn a lot from folks
7:06
Speaker 3: that have been around a lot longer.
7:09
Speaker 4: Well, yes, and even with the stock market, the volatility
7:11
Speaker 4: of the stock market, people think that that is new
7:14
Speaker 4: and it is not at all.
7:16
Speaker 3: Look at a chart.
7:17
Speaker 4: You know, any short term time period, there's going to
7:20
Speaker 4: be volatility in the market, because if you go back,
7:23
Speaker 4: there was also some kind of news somebody was worried
7:25
Speaker 4: about at that time, and those things pass and the
7:28
Speaker 4: market and the market grows, you know, beyond that, I
7:32
Speaker 4: think what is I think important to remember is that
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Speaker 4: when we get these swings today of one hundred points,
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Speaker 4: two hundred points, three hundred points in the market, percentage wise,
7:44
Speaker 4: that is not more than it used to be when
7:47
Speaker 4: it was twenty points and thirty points and forty points
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Speaker 4: in the market. It's it's and people see those big numbers.
7:55
Speaker 4: It's sort of like when they talk about the budget
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Speaker 4: a trillion dollars, Well, a trillion ain't what it used
7:59
Speaker 4: to be, right, That's exactly true, That's right, you know,
8:03
Speaker 4: it's it's just you know what what it is now,
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Speaker 4: and and percentage wise, when you look at volatility, that's
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Speaker 4: really what you need to look at, more so than
8:12
Speaker 4: the the point number, because you know, the scale keeps changing.
8:16
Speaker 3: And it depends on who you're talking to. And people
8:18
Speaker 3: do this with numbers all the time. It depends on
8:19
Speaker 3: who you're talking to. If they're trying to frame things
8:22
Speaker 3: in a certain way, they might use points instead of
8:25
Speaker 3: percentages to make it look more drastic, or if it's
8:27
Speaker 3: a if it's a different type of indices, they might
8:30
Speaker 3: use percentages instead of points. Confuse you, they'll use a fraction, right.
8:35
Speaker 3: The thing that gets me is when people use in
8:37
Speaker 3: the end verse of this, when people are using percentages
8:39
Speaker 3: to kind of hide raw numbers like ten over one
8:42
Speaker 3: is you know, a what a one hundred percent increase? Right,
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Speaker 3: that's uh, that's not in numbers, that's not really that's
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Speaker 3: non more. You know, it's not really that that drastic.
8:52
Speaker 3: But people will say, oh, there's been a thousand percent
8:54
Speaker 3: increase or a two thousand percent. Well, when you're talking
8:56
Speaker 3: about when you're giving me percentages of small numbers, that
8:58
Speaker 3: really doesn't mean a lot. And the inverse of that
9:01
Speaker 3: is absolutely true. So that's why you need to pay it.
9:03
Speaker 3: The market is so much larger now than what it
9:05
Speaker 3: used to be. I mean, we're talking about so much
9:06
Speaker 3: more that when you have points movements. You really got
9:09
Speaker 3: to look at the percentage game in that because that's
9:11
Speaker 3: what was really telling the business. Yeah.
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Speaker 4: I read an article about that a couple of days
9:14
Speaker 4: ago about the media likes to report, you know, if
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Speaker 4: the market has a bad day, you know X trillions
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Speaker 4: of dollars.
9:21
Speaker 3: Were lost in the market.
9:22
Speaker 4: Yeah, it's like, okay, that's that's probably true. But percentage
9:28
Speaker 4: wise is it's much less than it used to be.
9:31
Speaker 3: Other things that we're going to talk about this morning.
9:32
Speaker 3: You can control some of the conversation. If you want
9:34
Speaker 3: to get in. You can give us a call this morning.
9:35
Speaker 3: Three zer a four three four five fifty to fifty eight.
9:37
Speaker 3: It's an auto Q situation, So call in you'll you'll
9:39
Speaker 3: hear us talking and then we'll bring you on the
9:41
Speaker 3: air and ask your names and give us a call
9:42
Speaker 3: three zero four three four five fifty to fifty eight,
9:44
Speaker 3: either text over any questions you have. The three es
9:46
Speaker 3: are A four non three five five zeros or eight
9:48
Speaker 3: threesz aer a four non three five five zeros year eight.
9:50
Speaker 3: Before we went on the air, we were talking about
9:51
Speaker 3: a couple of things that we haven't really discussed in depth.
9:54
Speaker 3: I don't think on air before, and those would be
9:56
Speaker 3: pretty interesting conversation topics. I think you're talking about a
9:59
Speaker 3: couple of different perspectives and looking at, for example, evaluating
10:04
Speaker 3: the cost or the price of a stock, and what
10:06
Speaker 3: those and different things like that means. I'll just let
10:08
Speaker 3: you talk about that, because I found this conversation to
10:10
Speaker 3: be fascinating and somewhere that I don't have any knowledge
10:12
Speaker 3: of it at all as far as like intricate knowledge anyway.
10:15
Speaker 4: Sure well, I mean we could go at it a
10:18
Speaker 4: couple of different ways, but it's very common from my
10:23
Speaker 4: perspective hearing from from clients, you know, they'll say things
10:28
Speaker 4: like that stock is expensive, and usually what they mean
10:32
Speaker 4: is it's expensive in dollar terms. So a stock might
10:37
Speaker 4: be one thousand dollars a share versus one hundred dollars
10:40
Speaker 4: a share, and the expectation then, which is a you know,
10:46
Speaker 4: normal because it's how most things work in the world,
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Speaker 4: and the dollar is higher, then it's it's more expensive.
10:52
Speaker 4: But when you're evaluating a stock, that's not necessarily true.
10:56
Speaker 4: When you own a stock, you own a share or
10:59
Speaker 4: a piece of a company, and so the the the
11:05
Speaker 4: thing you have to really think about is think about
11:09
Speaker 4: that company more like a pizza and the share is
11:16
Speaker 4: just a slice of the pizza. Well, so you can
11:20
Speaker 4: cut that pizza in eight slices or sixteen slices, it's
11:24
Speaker 4: still the same value for the for the whole pizza.
11:28
Speaker 4: Just like the stock. You can cut that that that
11:31
Speaker 4: company into a billion pieces or two billion pieces, and
11:37
Speaker 4: it's it still has one valuation. It's just depends on
11:43
Speaker 4: how many times it's been broken up and sliced. So
11:48
Speaker 4: that that way, that dollar, that nominal dollar figure you
11:51
Speaker 4: see when you look up the quote of the stock
11:52
Speaker 4: really has nothing to do or you can't tell really
11:56
Speaker 4: what the valuation is of that until you understand the
11:59
Speaker 4: company itself. In the earnings of that company, because you
12:04
Speaker 4: know you're purchasing a share of the profits of that company,
12:09
Speaker 4: a share of that company which entitles you a share
12:11
Speaker 4: of the profits. Well, it depends on what the profits are, right, yeah,
12:16
Speaker 4: to say if that stock is expensive or not. There's
12:19
Speaker 4: there's something called a PE ratio that you may hear
12:23
Speaker 4: people talk about, which is the price to earnings ratio,
12:26
Speaker 4: and that tells you, you know, essentially what you're paying
12:30
Speaker 4: for a piece of the earnings of that company, regardless
12:34
Speaker 4: of what the dollar price of the share is you know,
12:37
Speaker 4: Berkshire Hathaway is a good example. Warren Buffett doesn't believe
12:41
Speaker 4: in splitting stock, and so they have very few number
12:46
Speaker 4: of shares. And I think the price of that stock
12:49
Speaker 4: now is maybe seven or eight hundred thousand dollars for
12:53
Speaker 4: one share. Oh wow, that doesn't mean it's you know
12:58
Speaker 4: worth However, many times one hundred dollars a share stock
13:01
Speaker 4: is worth. It's just there aren't that many shares outstanding.
13:04
Speaker 3: So that means less people own a piece of the
13:06
Speaker 3: pie too, right.
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Speaker 4: Yes, I mean, and the piece of the pie. One
13:10
Speaker 4: piece of the pie is worth a larger percentage of
13:13
Speaker 4: the company because it's not been divided up as many times.
13:18
Speaker 4: And so really that share price is not really reflective
13:24
Speaker 4: of the value of the company. It's how much it
13:28
Speaker 4: costs to buy a piece of the company, but how
13:31
Speaker 4: big is the piece and how many of those pieces
13:33
Speaker 4: are floating out there? And you know a lot of
13:38
Speaker 4: times people say I don't want to buy that stock
13:39
Speaker 4: because it's too expensive, but they aren't looking at the
13:43
Speaker 4: company itself, They're just looking at the dollar of that
13:46
Speaker 4: share price.
13:47
Speaker 3: That makes a lot of sense because and your pizza
13:49
Speaker 3: analogy works out perfectly. You know, there's a certain amount
13:52
Speaker 3: of ingredients and everything that goes into a pizza that
13:53
Speaker 3: determines the costs. You have one size of the pizza.
13:55
Speaker 3: So say that's a twenty dollars pizza. There, you cut
13:58
Speaker 3: it four different ways. Each of those pieces are five dollars.
14:01
Speaker 3: You got it ten different ways, either are two dollars, right,
14:03
Speaker 3: I mean the pizza itself, you put it all together,
14:05
Speaker 3: it's still the same value, the same pizza, the same
14:07
Speaker 3: ingredients and everything else. It just depends on how you're
14:09
Speaker 3: splitting it up. It makes perfect sense.
14:10
Speaker 4: Yeah, good, And that's why when you hear, oh, this
14:13
Speaker 4: company is splitting its stock, it's really not.
14:16
Speaker 3: Some just cutting more pieces off of the piece.
14:18
Speaker 2: Yea.
14:18
Speaker 4: It's not creating really any inherent value in that. It's
14:22
Speaker 4: just dividing up the shares more.
14:25
Speaker 3: They're doing the crispy crut style and doing it in
14:28
Speaker 3: squares instead of the triangles. You know, they're just making
14:30
Speaker 3: more pieces, right, So, and there can be reasons for that.
14:34
Speaker 3: I mean, sometimes if a share is more expensive, it's
14:39
Speaker 3: harder to trade round lots hundred share lots. You know,
14:44
Speaker 3: there's still a lot of trading done that way. If
14:46
Speaker 3: people use option strategy, those are always one hundred share
14:49
Speaker 3: a lots. So you know, it's not as important as
14:53
Speaker 3: it used to be because of the trading platforms and
14:56
Speaker 3: the way they operate now, but you know those hundred
15:00
Speaker 3: share lots still are meaningful in certain strategies. And so
15:07
Speaker 3: sometimes when you get a division of a stock and
15:09
Speaker 3: a stock split, it's just to make it more make
15:13
Speaker 3: it smoother as far as those transactions go. So you
15:18
Speaker 3: know that way, you know, if you want to marry
15:22
Speaker 3: an option strategy to it. You know, now we're getting
15:24
Speaker 3: into the weeds, but but there's one hundred chair a lot.
15:27
Speaker 3: It's easier to get one hundred.
15:29
Speaker 4: Chairs of it to to do those transactions.
15:32
Speaker 3: That makes that makes a lot of sense, and I
15:33
Speaker 3: think very well explained. If you have any questions, if
15:36
Speaker 3: you want to, if you want to lead the conversation,
15:38
Speaker 3: you're welcome to give us a call at three zero
15:39
Speaker 3: four three four five fifty eight fifty eight three four
15:41
Speaker 3: five fifty to fifty. We have a text question in
15:43
Speaker 3: from the seven six zero nine hundred seven six zero
15:46
Speaker 3: nine hundred texts in John, is the rate cut likely
15:50
Speaker 3: because of political pressure? I guess he means the upcoming
15:52
Speaker 3: one that was announced. I heard on the news that
15:54
Speaker 3: the Fed's report wasn't that good because of the terrorists, inflation,
15:56
Speaker 3: and low job numbers. They were saying that the report
15:59
Speaker 3: read more or like it was just justifying a rate hike.
16:03
Speaker 3: Will the cut be from political pressure or based on
16:05
Speaker 3: economic factors?
16:08
Speaker 4: Well, you know, the market is out here regardless of
16:12
Speaker 4: what the FED does, trying to predict and move rates
16:16
Speaker 4: based on that, the market has been expecting a rate cut.
16:23
Speaker 4: Political wise, I mean, could there be pressure put here there?
16:26
Speaker 4: There always is that involved in in you know, politicians
16:31
Speaker 4: trying to trying to you know, push their weight around
16:34
Speaker 4: and get things. But you know, the reality is the
16:38
Speaker 4: jobs market has slowed.
16:39
Speaker 3: Down, and the reality factors are always this is where
16:43
Speaker 3: we would experienced a cut. I mean, it's slightly softening
16:45
Speaker 3: of the economy, right, that's where that's where you get
16:47
Speaker 3: a cut. Yeah.
16:48
Speaker 4: So I don't think there's anything overtly political other than
16:52
Speaker 4: the you know, obvious political talk around it. But the
16:58
Speaker 4: market has been project a rake cut, so you know,
17:02
Speaker 4: the market is not not political. The market is made
17:05
Speaker 4: up of millions and millions of people making decisions in
17:09
Speaker 4: their best interest every.
17:10
Speaker 3: Day in some ways, and not to make it political specifically,
17:16
Speaker 3: but it seems like if you're pushing for a rate cut,
17:20
Speaker 3: that you're almost that you're almost admitting that there's some
17:26
Speaker 3: fundamental softness in the economy because because you're trying to
17:28
Speaker 3: hide that, you know, you want to hide that a
17:30
Speaker 3: little bit. What you don't want to happen really is
17:32
Speaker 3: to push a cut when when the economy is is
17:34
Speaker 3: cruising really really well, because you might have some some
17:37
Speaker 3: some things that cross unhealthily there. It seems like anyway,
17:40
Speaker 3: based on the way we've seen cuts and stuff work
17:42
Speaker 3: in the past.
17:43
Speaker 4: Right, I think traditionally you you probably would have seen
17:46
Speaker 4: a rate cut by now if it weren't for the
17:48
Speaker 4: tariff question, because fundamentally, I think the market was projecting
17:54
Speaker 4: rate cuts sooner than.
17:56
Speaker 3: Which might be where we get the administration pressure from.
17:58
Speaker 3: Is you want it because it looks good when you
18:00
Speaker 3: see those rates start to come down a little bit.
18:02
Speaker 3: And now people feel a bit.
18:04
Speaker 4: You know, especially when the economy is not in a recession,
18:07
Speaker 4: you know, when it's growing and now it's oh, it's
18:09
Speaker 4: like it's almost like throwing a little extra kindling on
18:12
Speaker 4: the on the fire.
18:13
Speaker 3: Yeah, you can imagine an official memo coming out the
18:16
Speaker 3: greatest rate cut ever, that's right.
18:20
Speaker 4: But yes, so I don't think that it's necessarily political,
18:25
Speaker 4: but everything is political now.
18:28
Speaker 3: And and I think that.
18:31
Speaker 4: Not for the if not for the tariffs, we probably
18:33
Speaker 4: would have had some rake cuts by now. But there's
18:36
Speaker 4: caution around the tariffs because of the uncertainty of how
18:39
Speaker 4: they will play out, because you know, the tariffs are
18:43
Speaker 4: something new to our system. I mean, there have been
18:46
Speaker 4: teriffts for a long time, but they've been extremely low
18:48
Speaker 4: for a long period of time, and now this is
18:50
Speaker 4: changing that. How will that play out into prices. I
18:54
Speaker 4: think that's what gave the FED caution, and if it
18:59
Speaker 4: weren't for that, we probably would have seen ray kuts
19:01
Speaker 4: by now.
19:02
Speaker 3: The education piece as always here. Thanks for your text.
19:05
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19:28
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19:31
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19:36
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Speaker 6: If you could hear Old Spice, Fiji Anti Perspriant.
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21:13
Speaker 6: First, you'd start with Fiji Anti Persprant's amazing sense of
21:16
Speaker 6: palm trees, add pure notes of fresh coconut and layer
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Speaker 6: on twenty four to seven, odor and sweat protection. You
21:23
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21:26
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21:29
Speaker 6: like this old spice, Fiji sounds like this, sounds like
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Speaker 6: it smells amazing.
21:37
Speaker 2: This is retire Right Radio with John Burdad from Fourth
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21:53
Speaker 3: I say hello to Retiring Right. You can do so
22:14
Speaker 3: with jarn Bardett from Fourth Avenue Financial. He can give
22:16
Speaker 3: us a call this morning three zerre A four three
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22:20
Speaker 3: eight fifty eight. You can text O for questions. The
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Speaker 3: threes are four none three five five zero zero eighth.
22:24
Speaker 3: Threes are A four nine three five five zero zero
22:26
Speaker 3: eighth is where you can give us a call. You uh,
22:30
Speaker 3: did you hear They're coming out with an anthology Volume
22:32
Speaker 3: four now you hear about that the Beatles Anthology Volume four,
22:35
Speaker 3: so they the first release, like, look, I'm a Beatles
22:39
Speaker 3: fan at some point, trying to to squeeze blood from
22:42
Speaker 3: a stone is a little ridiculous. And I think that
22:46
Speaker 3: we reached that ridiculous level a couple of years ago
22:48
Speaker 3: with those really because the new song that came out
22:50
Speaker 3: then was absolutely terrible. And so the new the first
22:54
Speaker 3: release off off of Anthology quote unquote four is just
22:57
Speaker 3: Free as a Bird remixed by Giles martin Man. That's
23:01
Speaker 3: still a bad song, nothing, it's a it's a really
23:05
Speaker 3: bad basement recording of John Lennon that they put some
23:09
Speaker 3: frankly in my estimation, overproduced music on and it just
23:11
Speaker 3: sounds it sounds just as uh as uh as uh
23:16
Speaker 3: dissonant today in my opinion, as it did, you know,
23:19
Speaker 3: twenty years ago when it first came out.
23:20
Speaker 4: I wonder how long it will be before they use
23:24
Speaker 4: AI to write a new Beatles song.
23:29
Speaker 3: And an issue, because they they they used a little
23:33
Speaker 3: bit of the AI to fill in the voices on
23:34
Speaker 3: that last thing they did. And if they're going to
23:36
Speaker 3: use the ACT, could it could they just done it better?
23:38
Speaker 3: You know, let's do less natural and just try to
23:41
Speaker 3: make it sound better because it was a it was
23:42
Speaker 3: a bad I don't want to know what that would
23:44
Speaker 3: sound like, honestly, I really don't. You know, they had
23:47
Speaker 3: that band on there on Spotify that they just took
23:51
Speaker 3: down down a couple months ago, the Velvet Tightroper, So
23:55
Speaker 3: I can't remember what the heck it was called, but anyway,
23:57
Speaker 3: they were they were like setting records on like streams
23:59
Speaker 3: and everything else. And it was a completely made up
24:01
Speaker 3: band with made up people, made up faces, made up biographies,
24:04
Speaker 3: made up music. Like the whole thing was fake.
24:06
Speaker 4: Yeah, it's fake but real, and somebody, somebody made some
24:11
Speaker 4: money off photo.
24:12
Speaker 3: I'm sure what I'm interesting to kind of bring that
24:15
Speaker 3: back around to what our general discussion is. I really wonder,
24:17
Speaker 3: and I don't know that there's an answer to this necessarily,
24:19
Speaker 3: but Spotify's purpose is to bring music to the masses,
24:25
Speaker 3: you know, That's what they're supposed to do, and they
24:26
Speaker 3: do a very good job of it. I wonder what
24:29
Speaker 3: harm could come to a company if this stuff starts
24:32
Speaker 3: to prolifiate more and more and more into the mainstream,
24:35
Speaker 3: Like suddenly there's just tons of fake artists. You know,
24:37
Speaker 3: if suddenly they're not good at their job anymore of
24:39
Speaker 3: giving people music. If suddenly so much of the music
24:42
Speaker 3: is fake or the people aren't really I don't know
24:44
Speaker 3: if we're close to that necessarily, but I mean the
24:47
Speaker 3: entertainment space has gotten So if somebody if I found
24:50
Speaker 3: a song on on on Spotify and and like the
24:54
Speaker 3: bio was like this YouTube creator now has a number
24:56
Speaker 3: one hit, I wouldn't know. I don't know the first
24:58
Speaker 3: thing about YouTube creator, So sure seems plausible to me, right,
25:01
Speaker 3: you know, and it could just be completely made up.
25:02
Speaker 3: I have no idea.
25:03
Speaker 4: Well, I know one thing AI is is definitely going
25:09
Speaker 4: to impact every business. A good example this weekend, my son,
25:15
Speaker 4: who is a computer code or guy. He was trying
25:20
Speaker 4: to work on some software that he was coding to
25:24
Speaker 4: track sports card and Pokemon and all these different things,
25:31
Speaker 4: sales history, look at the depth of the market, try
25:34
Speaker 4: to figure out, you know, the pricing and trends and
25:38
Speaker 4: that sort of thing. And you know he's done things
25:41
Speaker 4: like this before, but he's hand coded it. He has
25:45
Speaker 4: this AI tool now where literally in a matter of
25:50
Speaker 4: three hours he had this thing user interface and all
25:54
Speaker 4: working using AI. Something that would have taken him weeks
25:59
Speaker 4: and to do before. Now, if that's happening in his bedroom,
26:04
Speaker 4: what are these big companies able to do with these tools?
26:07
Speaker 3: Now?
26:08
Speaker 4: It's incredible and it will impact every business that you
26:13
Speaker 4: own in your portfolio will be impacted by AI.
26:16
Speaker 3: There seems to be this pushback going right now where
26:18
Speaker 3: a lot of headlines get bubbled up where you know,
26:21
Speaker 3: the hallucinations and the people that fall in love with
26:24
Speaker 3: their AI like this right there's like all this negative
26:27
Speaker 3: backfill of things that are going wrong, and I feel
26:30
Speaker 3: like that that you almost can't talk about the positive
26:34
Speaker 3: aspects of it with about people trying to push you
26:37
Speaker 3: into like some group like you're just trying to get
26:38
Speaker 3: the computer to take over the world or whatever. It's like, Man,
26:40
Speaker 3: I'm just trying to realize reality. This is coming anyway,
26:43
Speaker 3: and so why don't we come up with the ways
26:45
Speaker 3: that it's actually useful and then segment that off from
26:47
Speaker 3: the ways that's going to make your job worse Because
26:49
Speaker 3: there are ways that you could try to use that thing.
26:52
Speaker 3: It's just going to make things more complicated, you know.
26:53
Speaker 3: I mean like it's just you know, like you get
26:55
Speaker 3: down into the weeds. If you just would have done it,
26:56
Speaker 3: you would have had it done already. However, there's things
26:59
Speaker 3: that I found. You talk about data processing, there's things
27:01
Speaker 3: that I have to do that simply just nothing but
27:03
Speaker 3: substituting data or organizing data in a certain way for
27:07
Speaker 3: my job, that I'm able to just basically dump information
27:10
Speaker 3: into one screen, hit apply to and then walk away
27:14
Speaker 3: and I come back and there's a full report generator
27:16
Speaker 3: that's exactly what I need. I'm not giving it any
27:18
Speaker 3: creative ability over what I do. I'm not giving it
27:20
Speaker 3: any of making decisions for me. But as far as
27:23
Speaker 3: just putting data in a manageable and a manageable format
27:26
Speaker 3: does a great job of it. You know that saves
27:27
Speaker 3: me hours a week. Frankly, Yeah.
27:30
Speaker 4: And that is how the economy continues to move forward.
27:34
Speaker 4: It's creative destruction. The way we're used to doing things
27:38
Speaker 4: will fall away, and the new way will be there
27:42
Speaker 4: only if though it is more efficient and more profitable
27:47
Speaker 4: and more any easier way to do things. If it
27:52
Speaker 4: if it fails to do that, it won't it won't work,
27:54
Speaker 4: it won't take hold, and the old way will will persist.
27:58
Speaker 4: But that is just the history of progress and also
28:03
Speaker 4: the reason why over time the market continues to march
28:07
Speaker 4: higher because all of those efficiencies translate to profits. You know,
28:13
Speaker 4: if you think about breaking it down to the fundamental level,
28:18
Speaker 4: you know, you earn money, you create wealth by serving others.
28:22
Speaker 4: If these tools allow you to do that on a
28:25
Speaker 4: larger scale or more efficiently, society will benefit from that. Now,
28:30
Speaker 4: certain industries might not, certain certain individuals might have changes
28:35
Speaker 4: in the in the way they do things. But it's
28:40
Speaker 4: just like any other tool or any other piece of
28:43
Speaker 4: technology that's come along. You know, Microsoft made a lot
28:46
Speaker 4: of money making making the Windows Suite and the Office
28:49
Speaker 4: Suite and all of those things, but the real impact
28:54
Speaker 4: is spread across every company in America that has that
28:57
Speaker 4: on their desktop right now and able to use those
29:00
Speaker 4: systems to run their businesses and be more efficient. The
29:03
Speaker 4: profits that those business made dwarf the impact of that
29:07
Speaker 4: it had on the one company. You know, That's why
29:11
Speaker 4: Microsoft was a successful company, because that tool was so powerful.
29:16
Speaker 4: Everybody adopted it. They wouldn't have adopted it if it
29:20
Speaker 4: didn't make their businesses better. It makes sense, yeah, And
29:24
Speaker 4: so that I think is how AI will play out.
29:26
Speaker 4: You know, right now, everybody's keying on the individual players.
29:32
Speaker 4: The big players, the known players. But once the technology develops,
29:37
Speaker 4: it will benefit You'll benefit just by participating in the
29:41
Speaker 4: market in general.
29:43
Speaker 3: I was reading an analyst this past weekend who was
29:46
Speaker 3: talking about different things, and primarily we're talking about AI,
29:49
Speaker 3: but he was talking about how all technologies come to
29:53
Speaker 3: this point where he called it like deglazing the pan,
29:55
Speaker 3: where at some point you boil off all of the
29:58
Speaker 3: excess and what you have at the bottom, you kind
29:59
Speaker 3: of scrape it up and it's the tastiest, you know,
30:02
Speaker 3: the best bits of what it is that you want
30:03
Speaker 3: to do. And we're still in that area right now
30:05
Speaker 3: where it's very frothy, where we're still kind of boiling
30:07
Speaker 3: off the top of this kind of technology. Eventually, and
30:10
Speaker 3: now what people argue about is what's going to happen
30:12
Speaker 3: with within the froth, you know, I mean, but eventually
30:16
Speaker 3: it's gonna it's going to distill down into the best bits,
30:18
Speaker 3: you know, that that we're going to be able to use.
30:20
Speaker 3: And I think it was interesting too. We've talked about
30:21
Speaker 3: this on this show and and and this article happened
30:24
Speaker 3: to mention it as far as consumer demand and how
30:27
Speaker 3: things in the marketplace take a while. But I think
30:30
Speaker 3: we've mentioned on this show before, we're i think every
30:32
Speaker 3: major auto manufacturer out there now we're talking about going
30:36
Speaker 3: back to buttons. They're taking the screen, they're putting less
30:40
Speaker 3: things on the screen in the middle of the car.
30:41
Speaker 3: And this is all cause of customer demand. People got
30:43
Speaker 3: sick of everything being tied into a middle console where
30:46
Speaker 3: you had to go through millions of menus and stuff
30:48
Speaker 3: like that, and so they're they're winding some of that
30:50
Speaker 3: down where there's going to be more, you know, actual
30:51
Speaker 3: physical buttons to do things in your car now. And plus,
30:54
Speaker 3: you know, data was showing that looking at your middle
30:56
Speaker 3: screen was as dangerous as drinking and driving, you know,
30:58
Speaker 3: I mean, it just as bad. So some market pressures
31:01
Speaker 3: kind of change that froth and distill things out into
31:04
Speaker 3: what consumers like, consumers have a lot of the power
31:06
Speaker 3: there still, and that's going to happen with AI too.
31:09
Speaker 3: It seems crazy right now, you can't call the bank
31:11
Speaker 3: without AI getting involved, You can't open up an app
31:13
Speaker 3: and try to ask to try to figure something out.
31:15
Speaker 3: With that, some of this stuff might actually go away
31:17
Speaker 3: because eventually it's going to distill down into what people
31:20
Speaker 3: actually want.
31:21
Speaker 4: Yes, I mean the people are the rulers here of
31:24
Speaker 4: what happens, and they vote with their dollars and they
31:27
Speaker 4: vote with their actions and and that will tell the
31:30
Speaker 4: story of how it all plays out. But but you know, yeah,
31:35
Speaker 4: I am, I am more and more convinced that there's
31:39
Speaker 4: some some things here that will change how we do things,
31:44
Speaker 4: probably sooner rather than later.
31:46
Speaker 3: And really it just you have to just watch what
31:48
Speaker 3: happens and lean into it, you know. I mean, there's
31:50
Speaker 3: there's nothing better better to do than that than that.
31:53
Speaker 3: And it all comes into the long bend of this
31:56
Speaker 3: show as we all all of these stories just kind
31:58
Speaker 3: of weave into like the overall tapestry of what you
32:01
Speaker 3: have to observe as part of your job on a daily, weekly, monthly,
32:05
Speaker 3: yearly basis is. This is just what happens. You know,
32:08
Speaker 3: Industries bubble up and settle down, things look like they
32:11
Speaker 3: might be promising or not. Things take a long time
32:14
Speaker 3: to build and become super promising. That something's just explode
32:16
Speaker 3: onto the scene. I mean, that's just kind of life, right.
32:19
Speaker 4: And just know, when you are managing a portfolio, when
32:23
Speaker 4: you're getting ready to retire, you want to participate in
32:26
Speaker 4: those things, but you don't have to hit the lucky strike.
32:32
Speaker 4: You don't have to pick the winner right now. You
32:34
Speaker 4: just have to participate in the market because those profits
32:38
Speaker 4: eventually find their way throughout every business. Something like this
32:42
Speaker 4: will filter and find its way into the profitability and
32:46
Speaker 4: the efficiency of the economy as a whole. So you
32:49
Speaker 4: will be participating in that revolution if you just own stocks,
32:55
Speaker 4: if you own a portion of those companies that are
32:58
Speaker 4: utilizing those tools.
33:00
Speaker 3: Let's talk a little bit about generalities. Just in the
33:01
Speaker 3: last couple of minutes that we have here. I want
33:03
Speaker 3: folks to know that if you listen to this program
33:05
Speaker 3: and you know you have your four oh one K,
33:07
Speaker 3: or maybe you don't have any retirement at all, or
33:09
Speaker 3: you have something left over from a previous job that
33:11
Speaker 3: you don't contribute to anymore, or you're just fine with
33:13
Speaker 3: your four oh one K, or you have some things
33:15
Speaker 3: that you've put together in the past, or even that
33:17
Speaker 3: you're with another financial advisor, now, whatever it might be,
33:20
Speaker 3: if you want to supercharge your retirement, really the first
33:23
Speaker 3: thing you do is just have to give John a call.
33:25
Speaker 3: Like if you're looking for a way to add a
33:29
Speaker 3: multiplier to what you're doing, if you want to make
33:30
Speaker 3: sure what you're doing is the right thing. If you're
33:32
Speaker 3: just not sure about what the strategy you should be deploying,
33:35
Speaker 3: make that call, because you don't know until you make
33:37
Speaker 3: the phone call and try to figure things out. That's
33:39
Speaker 3: really the most important step is to take that first
33:41
Speaker 3: step and to arm yourself with the information.
33:43
Speaker 4: Yeah, the sooner the better. The earlier you start, the
33:46
Speaker 4: easier path will be to achieve your goals. You know,
33:49
Speaker 4: if you wait until the day before you retire to
33:52
Speaker 4: think about it, it's going to be a bigger challenge
33:56
Speaker 4: than if you're you know, twenty five or thirty and
33:58
Speaker 4: thinking about it. I think I mentioned a few weeks ago,
34:02
Speaker 4: had somebody that's scheduled employment. We had to schedule it
34:05
Speaker 4: two months out because she wasn't eighteen yet. Oh my,
34:10
Speaker 4: now that's early. That's getting to it. Yeah, that is early,
34:15
Speaker 4: but that usually doesn't happen. But certainly, you know, if
34:20
Speaker 4: you're out there, if you've got you know, five years
34:22
Speaker 4: to retirement, six years, ten years to retirement, you know,
34:25
Speaker 4: you're getting into that zone where you still have time
34:29
Speaker 4: to make some course corrections, and it's a really good
34:32
Speaker 4: time to come and sit down and make sure you're
34:34
Speaker 4: on that right track that that ten year window before retirement,
34:40
Speaker 4: you know, you it still could be difficult if you're
34:43
Speaker 4: not on track, but you have time to make some changes.
34:47
Speaker 4: So you know, if you're out there, if you know
34:49
Speaker 4: that that retirement's you know coming, give us a call.
34:53
Speaker 4: We'll set down the first first meeting. There's no charges,
34:57
Speaker 4: just to get to know one another and know your situation.
35:01
Speaker 4: Then we go from there. But you know, don't don't
35:05
Speaker 4: let that creep up on you and not make those
35:09
Speaker 4: adjustments in time.
35:10
Speaker 3: And from my experience at least with engaging with our
35:13
Speaker 3: listening audience and in various ways, we have a lot
35:15
Speaker 3: of people that are kind of we were talking about
35:16
Speaker 3: aim in a kind of aos skeptics as far as
35:18
Speaker 3: that goes, sure, well, let me tell you something. If
35:20
Speaker 3: you're going online and filling out forms to try to
35:22
Speaker 3: get an idea of what you should do for retirement
35:24
Speaker 3: or what you should do about this, that's all you're
35:26
Speaker 3: dealing with is some sort of AI, maybe not an LLM,
35:29
Speaker 3: but some sort of a narrow AI, something that's trying
35:31
Speaker 3: to generate based off of generalities and give you an
35:34
Speaker 3: idea of what you might be able to do for
35:35
Speaker 3: your retirement. Don't mess with any of that. Call a
35:37
Speaker 3: real person. You can call John right away and not
35:39
Speaker 3: mess with Not only that, you put your information in
35:41
Speaker 3: a website and then you get fifty seven phone calls
35:43
Speaker 3: within the next two hours. You don't want to do
35:45
Speaker 3: any of that. You can just give John a call,
35:47
Speaker 3: get some sober advice right away that's actionable from someone
35:50
Speaker 3: that's right here, next door, neighbor to you, and then
35:52
Speaker 3: you can figure out what you want to do with
35:53
Speaker 3: your retirement. So you can call John at three zer
35:54
Speaker 3: a four seven four six seven nine seven seven. That's
35:57
Speaker 3: three zer a four seven four six seven nine seven
35:59
Speaker 3: seven four Fourth ave New Financial. You can find out
36:01
Speaker 3: more information online about Fourth Avenue Financial. It's fourth Avenue
36:04
Speaker 3: Financial dot com. Fourth Avenue Financial dot com. You can
36:07
Speaker 3: you can set up a meeting there. You can also
36:09
Speaker 3: go to the the Facebook page Fourth Avenue Financial dot Com.
36:11
Speaker 3: Again you spell out the whole thing. Like the Facebook page.
36:14
Speaker 3: You can generate a meeting request there as well. Basically,
36:16
Speaker 3: all you got to do is find some way get
36:18
Speaker 3: within the general vicinity of John and let him know
36:20
Speaker 3: that you want to that you want to meet and
36:22
Speaker 3: talk about your retirement and John can help you out.
36:23
Speaker 3: Walk by the office and wave through the window. I
36:26
Speaker 3: do that all the time. I do that all the time,
36:28
Speaker 3: so you can do that as well. Located one seventy
36:30
Speaker 3: Court Street, that's right across from the Town Center Mall
36:32
Speaker 3: at the end of at the alley from Slack Plaza.
36:35
Speaker 3: Basically very easy to get to. Even if you park
36:37
Speaker 3: on like Summer Street and walk Slack Slack Plaza through,
36:40
Speaker 3: you can do that as well. Yeah, we have free
36:41
Speaker 3: parking on site too, so right around the corner. It's
36:44
Speaker 3: easy to get too. Easy to go. Easy, easy, easy,
36:46
Speaker 3: That's the way it goes. So it is Fourth Avenue Financial,
36:49
Speaker 3: Fourth Avenue Financial dot Com, one seventy Court Street, downtown Charleston,
36:52
Speaker 3: Retired Right Radio every Monday morning right here on five
36:54
Speaker 3: eight e w c HS with John Bredet from Fourth
36:56
Speaker 3: Avenue Financial at eight twenty. You can catch any of
36:59
Speaker 3: these previous programs. It's at WCCHS network dot com slash
37:03
Speaker 3: retire Right and you can find all of our previous
37:06
Speaker 3: programs up over there. John, thank you so much again
37:08
Speaker 3: this week, and we'll see you back here on Monday.
37:10
Speaker 3: Sounds good, Take care, thanks a bunch. We'll see what
37:12
Speaker 3: weather brings next week, maybe we'll be that much closer
37:15
Speaker 3: to autumn, or maybe we'll come back to summer. I
37:17
Speaker 3: guess we'll see what happens. Coming up, NeXT's gonna be
37:19
Speaker 3: five eighty Live with Dave Allen, then TJ and Dave
37:22
Speaker 3: Wilson with talk Line. After that, Dave Alan will be
37:25
Speaker 3: back with Amanda Baron this afternoon on midday, and then
37:27
Speaker 3: I'll be back at three oh six with Dave Weekly
37:29
Speaker 3: and Metsure News Hotline. Have a great day, everyone. This
37:31
Speaker 3: has been retire Right Radio on five eighty w c HS.
37:34
Speaker 3: We are the voice of Charleston.
37:40
Speaker 2: Find eighty Whsam ninety six point five's Turtleston one oh
37:43
Speaker 2: four point five Cross Lane.
37:45
Speaker 3: WVRC Media Station.
37:48
Speaker 2: We're proud to live here too,