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Risk Tolerance and Bias · Money In Motion with Klaas Financial

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This is money in Motion with Class Financial, a fun and informative show designed
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to help you get answers to all your retirement questions in one place. Look
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in mind right now means the phone lines are open for you. Six O
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eight three two one thirteen ten. That's six O eight three two one thirteen
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ten. Gets you on the air with our retirement planning professionals from Class Financial.
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Again the telephon number to get on the air six O eight three two
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one thirteen ten at six O eight three two one thirteen ten. Learn more
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about Class Financial on the website class financial dot com that's Klaas financial dot com.
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Get to know a little bit about Class Financial their separate divisions. Also
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great little weekly email you receive. It's got a link to kind of what's
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you for free at class financial dot com that's Klaas financial dot com. Also
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at the website you can listen back and subscribe to the podcast. I know
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sometimes in the morning we tend to step out, maybe grab some coffee,
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or maybe we hear something we want to hear again or share it with somebody.
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You can definitely check that out online Class financial dot com. That's klaas
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Financial dot Com. Telephone number six O eight four four two five six three
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seven for Class Financial's office right here in Madison. No charge for that.
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Ininitial gets to know your appointment tech Class Financial, it will be complimentary to
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you. I get a telephon number six O eight four four two five six
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three seven and phone lines are open six O eight three two one thirteen ten.
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That's three two one thirteen ten. Without any further ado. Joining us
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this morning our our retirement planning professionals CJA, Class Emlia Quavis CJA. How
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are you doing today? I'm doing great? How are you sewing? Doing
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really well? Great to chat with you and Melia? How are you doing
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this beautiful morning? Very good, glad to be here. It's great to
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have you both along. And we've got an important conversation ahead about understanding risk
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tolerance. What that means a little bit of behavioral behavioral finance. I got
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that right that second time. Aro out. I'll LI and CJA about that.
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This morning gonna be some great information, a great opportunity for questions at
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three two one thirteen ten. That's thirty two one thirteen ten before we get
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rolling the on this week's topic and conversation. One of the great things that
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goes on in the program each and every week it's the Class Quiz Question Week.
2:09
This week you'll have a chance to win a twenty five dollars gift card
2:13
to Dick Sporting Goods from our friends at Class Financial. Little tip if you
2:15
listen closer to the show. Oftentimes the question and answer to the Class Quiz
2:20
Question League come up during the Show'll take you about a little later on the
2:23
program exactly how you could win that. But for now, one of the
2:27
cool things we also do is look back at last week's Class Quiz Question League
2:30
get the question and the answer there as well. Yeah, so last week
2:35
we had a great conversation about the need potentially for long term care in your
2:39
future. So the question revolved around that what percentage of sixty five year olds
2:46
today will likely need some long term care in the future. Is it twenty
2:50
five percent or seventy percent? So a shout out to our winner last week,
2:53
Laura from Wauka Shaw. She correctly answered seventy percent of those sixty five
3:00
year olds today will need some form of long term care in the future.
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So thanks for listening, listening carefully for today's question, and again, yeah,
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we'll have one a little bit later on in the program. And it's
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an interesting conversation. We always have interesting conversations on the program, but today
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we're gonna be talking about risk tolerance as investors and kind of getting an understanding
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of behavioral finance. And I got to guess it's an important understand not only
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for ourselves we move forward, but to also kind of overall with our retirement
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planning, isn't it. Yeah, it's important to know about ourselves. And
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so risk tolerance is one of the most important considerations when you're building an investment
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portfolio or a comprehensive financial plan. Now, risk tolerance refers to your ability
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to handle some volatility in portfolio returns. So in this context, it's more
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concerned with large negative movements, since most people aren't bothered by high positive movements.
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But risk tolerance can be influenced by a lot of different factors, including
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your specific goal, your age, the degree that you'll rely on your portfolio
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for income, your personal comfort, and your absolute net worth. So in
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summary, it's your ability and willingness to take investment risks that you are comfortable
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with. That's kind of what when you think of risk tolerance again, it's
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your ability and willingness to take investment risks that you're comfortable with. Typically,
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Now, whenever we say the term typically or rule of thumb, just remember
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that no one is actually typical and no one perfectly aligns to a rule of
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thumbs. So be cautious with these statements. Their general statements, but they
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may not apply to you. So typically, older investors may have a lower
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risk tolerance, usually because they're fast approaching retirement or perhaps they're already in retirement.
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These investors can be hurt greatly by downward market movements, which makes careful
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financial planning essential, and obviously, when markets go down it can be hard
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to therefore generate income in retirement. So often as people get older, risk
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tolerance reduces, whereas younger investors can typically handle more risk due to their longer
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time horizons. However, here's the key. What I just mentioned, older
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investors less risk tolerant, younger investors more risk tolerant. These are not hard
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and fast rules, so we would like highly highly suggest that you don't think
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of risk only through the lens of age, because if you do that,
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you may come to find out that even though say you're a young investor,
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you may sell everything out at the wrong time, because when the market goes
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down, that's when you find out how much risk you're willing to take on.
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Right you're not able to sleep at night Suddenly you go, Wow,
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I somebody told me I'm young and I should be aggressive, but I'm not
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and I can't handle it. So a long story short, just recognize it's
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not only age that impacts your risk tolerance. It should be other factors.
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Full lines are open right now at six to eight three two one thirteen ten.
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That's three two one thirteen ten. Gets you in there with CJ Class,
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EMILEA. Quavis, I'll retirement plant professionals from Clause Financial, the website
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claud financial dot com. That's Klaas Financial dot com. And the telephon number
6:02
for the office here in Madison. Six to eight four four two five,
6:06
six three seven. That's four four two fifty six thirty seven. So see
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jets break down some of those different types of risk tolerances out there. Yeah,
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so as you're working towards kind of figuring out your own risk tolerance.
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It's good to understand some basic labels of what type of investing strategy you might
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want to kind of move towards. So first kind of label would be conservative
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investors. So typically when you see this, this would be people with a
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lower than average tolerance for investment risk. Typically these investors will opt for an
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allocation with higher shares of cash or money market CDs, fixed income, things
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like that. A moderate investor these are people with the middle of the road
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view of investment risk. These investors might opt for you even or nearly even
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shares of riskier growth focused investments versus safer So for an example of this,
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someone with a moderate risk tolerance might have an asset allocation of fifty to six
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percent in common stocks and the other thirty to forty percent in bonds and money
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markets. And then finally, if you think of yourself as an as an
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aggressive investor, these are people who are usually willing or able to tolerate higher
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levels of risk. And when we say risk, think of it as deviation
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from expected outcome. Now, some of you are going, oh, that
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sounds so financial volatility from the mean, there's different ways to think about this.
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But if I'm expecting to get eight percent a year, a risk tolerant
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person would be okay with being twenty percent up or down from there, right,
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So that's maybe in more Layman's term, what do we mean by risk
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means the variation from your expected outcome on a year by year basis. So
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usually these investors have a higher concentration. These being aggressive have a higher concentration
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of stocks, And in some circumstances, aggressive investors go beyond just having a
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higher concentration in stocks, they'll actually get more speculative. So speculative meaning like
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this is where like bitcoin would come into play, or holding one particular stock.
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Now, if you've listened to our show long enough, we do not
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love speculation. That term like speculation and class financials just do not go in
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the same sentence. So we will work with people who are aggressive investors,
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but only through the lens of a fully diversified portfolio, because we don't want
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to be taking on risks that don't compensate you over the long run. So
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some things you may want to ask yourself as you start to think am I
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conservative, moderate, or aggressive? Here's some questions. Number one, what
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is your investment time horizon? Number two? What are your short and long
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term investment goals? Number three? What is your overall attitude towards the prospect
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of losing money? Number four? Will you rely on your investments to cover
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your monthly income or will you have multiple streams of income so that if your
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investments go down, you're not dependent upon that for income. And finally,
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if your portfolio were to drop in value by ten percent or twenty percent,
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would you feel the need to suddenly sell everything or are you okay with that
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deviation from the expected outcome. So most investors simply don't like watching their portfolios
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values decline, and they only find out about their risk tolerance once they first
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get tested by a downtrend in the market. So we spend a lot of
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time, as you can imagine, as we onboard new clients, really digging
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into their history of investing, their age, their need for income, so
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kind of some quantitative and qualitative factors to figure out what is the right balance
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for them. Because we have the saying in our firm, and I'm going
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to botch it a little bit, but one of our advisors will say,
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one hundred percent of an okay strategy is better than zero percent of a great
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strategy. So let me repeat that, one hundred percent of an okay strategy
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or asset allocation is better than zero percent of a great asset allocation or strategy.
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So the point being in that if we say, oh, you're young,
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you can tolerate a lot of risk, and then you don't stick to
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that, we've done you harm. Right, So even though we believe you
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can take on risk, if you can't tolerate it and you suddenly bail at
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the wrong time, you know that advice was the wrong advice. So just
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recognize it's not about kind of optimizing what other people say you should do.
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It's about optimizing what you can actually tolerate. Very individual here as we talk
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this week with CJ Class and Malia Quavis, our retirement planning professionals from Class
10:31
Financial. Of course, if you've got a question for CGEN Malia, it
10:33
is a prime opportunity to get on the air right now at six eight three
10:37
two one thirteen ten. That's three two one thirteen ten gets you on the
10:41
air with Malia and CJ. Don't forget. You can learn more about Class
10:45
Financial on their website. Class financial dot com. That's Klaas Financial dot com.
10:50
Great website to learn more about Class Financial or separat divisions. Also,
10:54
get signed up for that weekly market Pulse newsletter and the telephone for Class Financial's
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office six eight four four two five six three seven. Don't forget no charge
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for the initial get to know your appointment tech Class Financially. It will be
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complimentary to you again their number six O eight four four two five six three
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seven. And to get on the air this morning, give us a call
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six O eight three two one thirteen ten. That's three two one thirteen ten.
11:15
Be talking with Malia about now that we've kind of got the groundwork laid
11:18
for risk tolerance, what about managing your own retirement or working with a professional
11:24
d I a Y. Where do you fit in kind of that spectrum.
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We'll get the details from Malia and take your call next as Money in Motion
11:31
with Class Financial continues right here on thirteen ten WIBA. This is Money in
11:41
Motion with Class Financial, a fun and informative show designed to help you get
11:46
answers to all your retirement questions in one place, and the full lines are
11:50
open for you right now at six O eight three two one thirteen ten.
11:54
That's three two one thirteen ten. Leve to get you on the air with
11:56
c J Class and Malia Quavis. They are our retirement planning professionals from Class
12:01
Financial. Love to get your call at six O three two one thirteen ten.
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That's three two one thirteen ten. Don't forget. You can learn more
12:07
about Class Financial on their website clause financial dot com. That's Klaas Financial dot
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com. And the telephone number for the office right here in Madison six O
12:15
eight four four two five six three seven. No charge for that initial get
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to know your appointment at Class Financial. It will be complementary to you again
12:22
their number six O eight four four two five six three seven. Talking this
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week about risk tolerances and understanding your own personal your own personal risk tolerance and
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what all goes into kind of making that determination or that understanding. And I
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guess once you've kind of got that understanding of your own risk tolerance, should
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we simply manage your own retirement planning or consider being a DIY invest Emilia.
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What's kind of the thinking there. It's it's a really good question. And
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I think you know, first of all, understanding you know yourself, which
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is again the risk tolerance and then secondly your own behavior. That's where that
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behavioral finance sword came in. It's very very important for you to determine the
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best way to plan and manage your own retirement, so we would advocate you
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know it is very possible to be a do it yourself investor, to manage
13:11
your own portfolio, your own financial affairs on your own without the help of
13:16
a financial advisor. Many people are able to do this quite well, and
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it's certainly feasible when you're young and your portfolios relatively small, and we've really
13:26
never had more tools to research and build out your own financial destiny than we
13:31
do today. So so for many folks, this is something they really enjoy
13:35
doing and we can see them benefit by doing that. But we do have
13:41
to look at why would you not have an advisor that overwhelming items here?
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So if you view managing your wealth as an engaging outlet, like it just
13:52
brings you excitement, then this is during the good and the bad, and
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it's something you want to pursue, we suggest you go for it. We
14:00
wish you great success. But the flip side is not everyone has this genuine
14:05
interest in doing it now when the market is going up, I can guarantee
14:07
you everybody has this interest. But we say genuine because when we look at
14:13
options for doing it yourself, well, it looks appealing. You have to
14:16
determine for yourself does it bring you this you know, warm and fuzzy feeling
14:20
every day. And I think oftentimes people who are admittedly very successful in their
14:26
own careers, you know, whether it be a plumber, an engineer,
14:31
a lawyer, or a doctor across the board, if they've been successful,
14:35
there many times they feel like they can just translate that success over to the
14:39
financial world. Some can and some some can'ts and so we often see people
14:43
kind of this financial fog. So you know, you have to understand again
14:48
your own behaviors in your own We'll talk about some biases a little bit,
14:54
but over confidence, sometimes sometimes seeking a second opinion. Now people are surprised,
15:01
they think that, you know, they know what they're doing, and
15:05
if they ask for a second opinion, it doesn't align with what they think.
15:09
Are they going to act on that or not? So you have to
15:11
ask yourself. Dealing with portfolio design, distribution of income, doing some tax
15:16
and estate planning, and looking at the whole picture at the same time,
15:20
is that something you want to delve into again, It can be done,
15:24
and we've seen it done well. But you just really have to know yourself,
15:28
know what kind of investor you are, and if it makes sense to
15:33
potentially work with an advisor in the future. You can ask some of these
15:37
questions to yourself. Which one of these people are you? How do you
15:41
like to spend your time, are you committed to managing your wealth at every
15:45
stage of life? And can you accept and act on device on advice?
15:48
And that is key. So you know, if I have a relative who
15:54
gives me advice, let's just start there. Am I listening? Am I
15:58
really listening? Am I really going to act on it? If it's a
16:00
professional I meet with a lawyer, he gives me some suggestions, he gives
16:06
me some activity to do. Am I going to actually complete it? Or
16:08
am I going to be I know what I'm doing, I'm going to do
16:11
it myself. And that's the type of person I am. So you really
16:14
have to understand yourself and you also have to look at the time involved.
16:18
You know, time is the most precious commodity we have, and as we
16:22
all get older, we recognize time is everything. We want to be able
16:26
to spend it doing what we want to and we want to spend it with
16:32
those that we care for the most. So you have to understand that this
16:36
requires time and if that's where you want to spend your time in retirement,
16:40
then you should do it. If not, you should look at perhaps vetting
16:42
advisors. So we want you to ask the right questions when you do a
16:48
potential financial advisor. If you decide not to do it yourself, you want
16:52
to ask what fees do you charge? What experience do you have working with
16:56
clients in a similar boat to mind, how often when we meet to review
17:00
our progress and goals. And again, while we see the benefit by working
17:04
with clients and vice versa, we also know many people do not use an
17:10
advisor. So Northwestern Mutual back in twenty twenty two, they did a Planning
17:15
in Progress study and they find that only thirty five percent of Americans actually use
17:19
a financial advisor. So we would say, if you're amongst the sixty five
17:23
percent who don't use an advisor, it may be time to get one if
17:27
you understand the purpose, especially if money in retirement related concerns keep you up
17:33
at night. So that's the key thing there. Can you sleep? Are
17:37
you comfortable with all of the other planning besides just managing investments, and make
17:42
sure that you're you're able to sleep at night. If not, perhaps reach
17:47
out to an advisor who might be able to put you on the right path
17:48
who doesn't need better sleep. I think we can all use that as we're
17:53
talking this morning with our retirement planning professionals, Mali Aquamans and CJ. Claus
17:57
love to hear for this party. If you've got questions, We've got time
18:00
for you. Love to get you on the air with CJ and Malia.
18:03
Telephone number six O eight three two one thirteen ten. That's six O eight
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three two one thirteen ten. Of course they come to us from Class Financial,
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the website class financial dot com. That's klaas Financial dot com. The
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telephon number six O eight four four two five six three seven. No charge
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for the initial gets no you appointment tech Class Financial. It will be complimentary
18:22
to you again. They're telephone number six O eight four four two five six
18:25
three seven. We're gonna get a little bit deeper into this. We're gonna
18:27
talk about about some of the things to look at when you're thinking about your
18:32
own financial picture. We'll get the details on that and we'll do the class
18:34
quiz question leak as well as take your call next as Money in Motion with
18:37
Class Financial continues right here on thirteen ten WIBA. This is Money in Motion
18:48
with Class Financial, a fun and informative show designed to help you get answers
18:52
to all your retirement questions in one place, talking with our retirement binding professionals
18:57
from Class Financial, CJ, Class and Melia quaevis the website Class financial dot
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com. That's Klaas financial dot com. Get to know Claus Financial, get
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to know the team at Class Financial. Also, of course, sign up
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for the weekly Market Paulse newsletter. So goroll down towards the bottom. You'll
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see a little envelope it says stay current. Right there, you can subscribe
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to the weekly Market Paulse newsletter and each week you'll get a nice email with
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a snapshot of things going on in the markets. Also a linked to the
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most recent podcast that available to you at class financial dot com. Speaking of
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Claus Financial dot com the podcast you listen back there. You can also subscribe
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right online Telephonober for Class Financial four four six eight four four two five six
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three seven at six o eight four four two fifty six thirty seven. No
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chart for financial gets no appointment at class financial. It is complimentary to you
19:41
talking this week about risk tolerance and understanding behavioral finance and what should we kind
19:45
of understand about those things when we're looking at our own financial picture. CJ.
19:51
Yeah, So this show is a little bit different than our average show
19:55
today for anybody who's listened for a while, and that we're talking about some
19:59
kind of self reflection, aspects of financial planning, acid allocation, risk tolerance,
20:06
things like that. And so, you know, I began with talking
20:10
about understanding your own risk tolerance. Malia talked about do you hire somebody to
20:15
do this do you do it on your own? And we've seen both that
20:18
can be successful. But what we're going to end with is some realities around
20:26
behavioral trends that we see in finance that I think I really want to encourage
20:30
you all to listen to, because as I've gotten deeper and deeper into this
20:36
career and even into self reflection around my own you know, portfolio management or
20:41
financial planning topics, I see a lot of risks in my own behavior risk
20:47
that could hurt me. Okay, so stick with me here. Traditional economic
20:52
theory suggests that individuals are well informed and consistent in their decision making, hence
20:59
they would consider them rational. Now we don't agree with that fully, but
21:04
we agree with the conclusion of that. So let me explain what I mean.
21:08
So the idea being that investors are rational. If investments are going to
21:12
lose, lose, lose forever, they're going to eventually jump ship. And
21:15
then if something's going to gain, they're going to jump on that ship.
21:18
And so there's a rational aspect to what investors are doing. But even if
21:22
they're not perfectly rational, they're very inconsistent. And therefore, whether they're rational
21:27
or inconsistent, the question becomes, can I like trade on that information,
21:33
whether it be taking advantage of behavioral aspects of other people or even just sticking
21:37
to consistent outcomes myself. So we're going to talk about some risks that come
21:44
up in personal financial planning or personal decision making around investments. So, and
21:49
these risks are called biases. Let's talk about a few of these. There's
21:53
this risk called the overconfidence bias. This also often gets referred to it's not
22:00
the same thing, but it can be called a hindsight bias. So this
22:03
is an emotional bias. In general, humans tend to view the world positively.
22:08
Outside of finance, studies, amongst drivers report themselves to be safer than
22:14
the majority of other drivers. So let that sink in. Outside of finance
22:18
studies amongst drivers, like vehicle drivers report themselves to be safer than the majority
22:22
of other drivers. Many studies amongst professionals find themselves to have unrealistic positive self
22:30
evaluations and overestimations of their own contributions to past positive outcome. So I think
22:37
an employer says, hey, we've been really successful. Let's ask all our
22:41
people how much it was because of them, right? And you know,
22:45
it turns out there like ninety five percent off. Everybody says that it's because
22:48
you had me on the team, right, And so there's the reality.
22:52
And by the way, that that can't just that can't be true that it's
22:56
because of ninety five percent. There's probably one or two people that had something
23:00
that impacted the organization. Now we could go on for example after example after
23:06
example, but there's this overconfidence bias that also then will leak into what we
23:10
call hindsight bias. So hindsight biases when somebody looks back and they say,
23:15
oh, now I see what happened in the stock market. And therefore,
23:18
given that I can look backwards and see what happened, I won't make that
23:22
mistake again. And so they constantly, because of the advantage of hindsight,
23:27
they constantly believe they're learning and won't do it again. The problem is that
23:33
the markets are somewhat random. Some patterns they will repeat. Other patterns the
23:38
market will not repeat again. Another bias, or another kind of risk to
23:44
you is what we call a loss aversion risk. So we previously discuss that
23:49
understanding your own risk tolerance is important, but also understanding how that risk tolerance
23:55
can negatively impact you for long term outcomes. Let me give you an example.
24:00
Hey, I understand that I need my portfolio to grow to offset the
24:03
income, but I am so loss a verse that I'm just going to literally
24:07
print off money, stick it under my mattress and not even trust banks or
24:11
the government or anybody, right, and then your house burns down and you
24:14
go, oh, yeah, what happened. So fear of loss or loss
24:21
of version, if not controlled, can actually lead people to places where they
24:26
are no longer functioning in society. They're no longer engaging society, and therefore
24:32
they start losing to inflation, and their portfolios cannot keep up and they have
24:37
the risk of running out of money. Another issue would be what we call
24:40
a framing bias. Instead of relying on facts and figures, individuals sometimes get
24:45
persuaded by the framing of sentences. As a matter of fact, Congress is
24:52
fantastic at framing topics. Let me give you an example of this, the
24:57
Affordable Care Act. Right. That's and by the way, I'm not knocking
25:02
the Affordable Care Act. So anybody who thinks I'm trying to make a point
25:04
about the Affordable Care Act, you're wrong. I'm not. But the Affordable
25:08
Care Act was through the Obama administration trying to, you know, make sure
25:14
that everybody has health insurance when they don't have an employer based plan. And
25:17
so instead of calling it the Health Insurance Plan for Everybody, or the getting
25:22
all Americans health insurance, they called it the Affordable Care Act. For anybody
25:26
who actually is on the Affordable Care Act, if your income is high enough,
25:30
it is everything but affordable. Right. But the framing of that topic
25:37
evokes a positive emotion. Right, And again, this is not a knock
25:40
on the Affordable Care Act. I'm not making a judgment about whether or not
25:42
it's it's a good or bad piece of legislation and how it works. It's
25:45
rather just isn't it fascinating? How Congress has learned that framing is critical?
25:52
So often we find investors will get lured into investments by framing. An example
25:56
would be invest in this real estate project. It gets a twelve percent cash
26:00
on cash return and with little to no risk. Oh my gosh, that
26:04
sounds amazing, Like why would I do that when the stock market? Or
26:07
why don't I do that when the stock markets so volatile? So be cautious
26:11
of framing biases. And then the final bias for the final risk I'll mention
26:15
is anchoring. So investors tend to hold on to a belief and then apply
26:21
that belief as a kind of subject reference point from making future judgments without ever
26:27
reevaluating their anchor. People often base their decisions on the first source of information
26:33
to which they're exposed and have difficulty adjusting their views to new information. Anchoring
26:41
bias is again one of those huge risks that we see in investing where somebody
26:45
says, hey, when I grew up, the biggest companies were always you
26:51
know, making something like raw materials. They were making vehicles, or they
26:57
were they were making cam emeras, they were making something. And so therefore
27:03
I have learned that I should always invest my money in companies that make something
27:07
that that I can that's really tangible, a big produced item. Well,
27:11
listen, if that has been your approach in the last ten years, you've
27:14
gotten slaughtered, I mean completely slaughtered, because the biggest, you know,
27:18
the biggest stock returns have actually come from the fangs Facebook, Amazon, Netflix,
27:22
and Google. You can't go you know, they're not making cars.
27:26
So be cautious of these anchoring belief systems that you can't be persuaded anywhere else.
27:30
So anyway, I'm rambling the point of this being there are risks when
27:36
you take on investing in your own kind of out of your own belief system,
27:40
because you can find that, uh, these risks kind of pop up
27:42
and end up hurting you in portfolio management. So if you're going to do
27:45
it on your own, try to learn these risks and avoid them. Really
27:48
fascinating stuff this week and a lot of great information. If you missed any
27:52
part of the program, Door Freak can always listen back at class Financial dot
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com. You can also share the podcast a class Financial dot com. That's
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kaas financial dot com. The telephone number six O eight four four two five
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six three seven. No charge for that initial gets to no you appointment at
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O eight four four two five six three seven. Speaking of the telephone number,
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time now for the class quiz question Leak. You want to hold on
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to that number because in just a moment I'll ask you the class quiz question
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the leakue. You will then have thirty minutes from the end of today's program
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to call the Class Financial office right here in Madison at six O eight four
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four two five six three seven. If you are the first caller with correct
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answer, you will win this week's prize, which is a twenty five dollars
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gift card to Dick's Sporting Goods. This week's class quiz question the week is
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this true or false? Your risk tolerance refers to your ability and willingness to
28:44
take investment risks that you are comfortable with true or false. Telephone number six
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O eight four four two five six three seven, first caller with correctdancwer Win
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the twenty five dollars gift card to Dick Sporting Goods. Again, don't forget.
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That's Class Financial's office right here in Madison as well. No charge forial
29:00
gets no appoyment at Class Financial. It is complimentary. And the telephone number
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six to eight four four two five six three seven C Jamilie. It's always
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fascinating stuff. Great chat with you. We enjoy this beautiful day. Thanks.
29:11
News is next right here at thirteen ten WIBA. This is Money in
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Motion with Class Financial Asset Advisors LLC, a registered investment advisor registered with the
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SEC. The content of this show is for informational purposes only and should not
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be considered individual investment advice. Class Financial does not offer tax or legal advice.
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Any opinion offered during the course of this show is the opinion of that
29:41
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