Latest / WCHS Network Podcasts / 09/22/2025 Retire Right Radio with John Burdette

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09/22/2025 Retire Right Radio with John Burdette · WCHS Network Podcasts

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  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: key to exceptional real estate experience is start here Meeks Realtygroup.
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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
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  Speaker 2: necessarily reflect the views and opinions of five ADWCHS, its
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  Speaker 2: employees or WVRC Media. This is retire Right Radio, a
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  Speaker 2: weekly show from John Verdet at Fourth Avenue Financial that
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  Speaker 2: aims to answer your questions about financial planning, investing, and
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  Speaker 2: how to retire right. Fourth Avenue Financial is located in
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  Speaker 2: downtown Charleston at one seventy Court Street. More information online
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  Speaker 2: at Fourth Avenue Financial dot com. Join the conversation by
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  Speaker 2: calling three oh four three four five fifty eight fifty
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  Speaker 2: eight or text three oh four nine three five fifty
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  Speaker 2: oh eight. On Retire Right Radio, let's go live to
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  Speaker 2: the studio with host Dale Cooper and John Verdet from
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  Speaker 2: the Avenue Financial.
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  Speaker 3: And as pleasant Monday morning to you. You're listening to
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  Speaker 3: five ad w c HS the Voice of Charles and
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  Speaker 3: I'm del Cooper. This is retire Right Radio with John
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  Speaker 3: Burdett for Fourth Avenue Financial is in studio with us
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  Speaker 3: this morning. Taking your phone calls at three zero four,
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  Speaker 3: three four five fifty eight fifty eight, three four five
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  Speaker 3: fifty eight fifty eight. You can text over your questions
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  Speaker 3: as well. Three zero four none, three five five zero
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  Speaker 3: zero eight. Threes are A four nine three five five
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  Speaker 3: zero zero eight. More information online Fourth Avenue Financial dot com.
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  Speaker 3: You spell out the whole thing. John, Good morning, How
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  Speaker 3: are you doing this morning.
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  Speaker 4: I'm doing great. Happy Monday morning to you. We made
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  Speaker 4: it through the weekend. Yeah, it's a good weekend. It
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  Speaker 4: was another nice weekend.
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  Speaker 3: Yeah.
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  Speaker 5: I also yesterday I went and I scored a big
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  Speaker 5: pile of records I've got. It's it's really one of
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  Speaker 5: the best that I've that I've ever picked up. It's
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  Speaker 5: full of jazz and blues. I mean, you know Coltrane,
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  Speaker 5: Miles Davis, Cannonball at Early and then you know Muddy Waters,
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  Speaker 5: Lightning Hopkins.
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  Speaker 4: You know, I know somebody's gonna want to come see you.
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  Speaker 5: It is an amazing clutch.
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  Speaker 4: Mister Weekly in the afternoon is going to be very
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  Speaker 4: interested to hear about that.
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  Speaker 5: Yeah, I mean some of these were first presses.
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  Speaker 3: Really nice stuff, man. That's uh. It's always nice when
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  Speaker 3: you find a nice staff somewhere, right.
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  Speaker 4: Yeah, it's like a like you know, an easter egg.
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  Speaker 4: You uncovery is like.
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  Speaker 3: Do you find that not this this is vinyl talk,
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  Speaker 3: but do you find that vinyl heads tend to be
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  Speaker 3: vinyl heads and so they take care of their albums
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  Speaker 3: or are you finding just like more so older things
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  Speaker 3: that are just like stuffed away and forgotten.
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  Speaker 5: Well, you know this collection originally there was a collector
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  Speaker 5: and he had passed away and they ended up in
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  Speaker 5: storage and this was the you know, basically his son
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  Speaker 5: sold it off. But it's set in storage for a
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  Speaker 5: couple of years. But you know when people that particularly
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  Speaker 5: that type of music tend to keep it pretty good,
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  Speaker 5: shore pretty nice. You know, you can get some pretty rough,
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  Speaker 5: you know, kiss albums.
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  Speaker 3: Imagine what those things have been through, the dorm rooms
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  Speaker 3: and everything else that those thingss have gone through. I
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  Speaker 3: remember back when when I ran my book businesses and
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  Speaker 3: we did multimedia. It wasn't just books and so we
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  Speaker 3: did we did vinyl and things too. The best vinyl
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  Speaker 3: score that I ever got, and it was It was
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  Speaker 3: thousands of records.
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  Speaker 4: I mean it was a lot.
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  Speaker 3: And it was a wide variety from classical all the
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  Speaker 3: way up through uh through pops and and and and
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  Speaker 3: modern pop and things like that, just all kinds of
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  Speaker 3: great stuff, including some like beatles were in there, and
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  Speaker 3: stones and stuff from the British invasion and stuff, all
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  Speaker 3: in pretty good shape. I in plaid shape, but not
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  Speaker 3: bad shape. You know, where somebody obviously used them. It
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  Speaker 3: was going to be. It was a nice election. The
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  Speaker 3: problem is, and and no disrespect meant here, but it
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  Speaker 3: belonged to someone who was a prolific smoker. Yeah, And
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  Speaker 3: even on vinyl covers, even on album covers or whatever,
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  Speaker 3: you cannot get rid of that smell. It sits there forever.
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  Speaker 3: And and that severely demanded. In fact, we couldn't even
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  Speaker 3: keep them in our store. We had to put them
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  Speaker 3: in like a special location for the longest time with
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  Speaker 3: like different things to try to soak the odor out of, right,
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  Speaker 3: And and we still couldn't bring like all of them
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  Speaker 3: into our store because it just smelts bad. It would
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  Speaker 3: just it just would permeate the entire store. So some
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  Speaker 3: times you run into those things, it's like it would
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  Speaker 3: be perfect, but for them whatever this might be.
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  Speaker 5: Yeah, you also get a lot of a lot of
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  Speaker 5: times people bring things in. There've been in basements and
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  Speaker 5: they've been yeah, yeah, you get rid of that either. No,
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  Speaker 5: it's it's uh, you know that. That's why when you
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  Speaker 5: do find a nice scory, you know, it's like, oh,
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  Speaker 5: this is great.
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  Speaker 3: Keep him dry, keep them in the right places. But
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  Speaker 3: that's not what we're talking about necessarily.
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  Speaker 4: This morning.
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  Speaker 3: We're talking about your financial future and how you can
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  Speaker 3: retire right this morning. You're welcome to give us a
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  Speaker 3: call about that. Take a look back at the market
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  Speaker 3: last week. I think the big news and the big
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  Speaker 3: thing that and you knew it. We knew what we've
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  Speaker 3: we've been talking about on the show. The Fed finally
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  Speaker 3: cut the rate. It was baked in, So, I mean,
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  Speaker 3: the market's been doing well, but but it wasn't like suddenly,
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  Speaker 3: oh hey, they cut the rate now, and they knew
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  Speaker 3: this was going to happen.
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  Speaker 5: It was definitely an expected rate cut. It was well
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  Speaker 5: telegraphed and and if it hadn't happened, the market would
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  Speaker 5: not have liked it at all. So I guess the
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  Speaker 5: news is that the Fed is excuse me saying that
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  Speaker 5: they may cut one or two more toms this year,
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  Speaker 5: but there is some discrepancy in in what the how
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  Speaker 5: people voted on the intensity of the cuts and the
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  Speaker 5: timing of the cuts, so there's still some unknown there.
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  Speaker 5: We're we're kind of in this period I think where
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  Speaker 5: it's like the the Bob Dylan song Idiot, when it's
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  Speaker 5: you know, what's good is bad, what's bad as good?
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  Speaker 5: And and we're back into that. If if the jobs
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  Speaker 5: numbers and things like that come in hot, which I
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  Speaker 5: think is the reason the Fed decided to go ahead
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  Speaker 5: and cut because there's some weakening in the jobs market,
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  Speaker 5: that that could maybe cause some volatility in the stock
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  Speaker 5: market because the expectation now is that rates will be
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  Speaker 5: cut and and that if that doesn't come through that
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  Speaker 5: that's you know.
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  Speaker 4: So this one, the next one isn't quite as a known.
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  Speaker 5: That's that's correct, And until we see some more numbers,
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  Speaker 5: because it's going to be numbers driven, and if, like
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  Speaker 5: you say, if things are too good, that could be
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  Speaker 5: bad right right for the market because of expectations in
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  Speaker 5: the way things.
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  Speaker 4: Are baked in.
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  Speaker 5: Very interesting, So we'll see how that plays out. I mean,
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  Speaker 5: whatever whatever way it plays out, you know, it will
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  Speaker 5: be a short term, you know event when you're looking
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  Speaker 5: over the scope of an investment horizon. But but that's
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  Speaker 5: certainly something that we have to uh look forward to
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  Speaker 5: and and uh and see how it all transpires.
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  Speaker 3: There's a lot of things that kind of got kicked
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  Speaker 3: to the end of the year too, I think, or
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  Speaker 3: a lot of maybe not kick to the end of
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  Speaker 3: the year, but there's a lot of timing mechanisms, like
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  Speaker 3: with the different tariffs and different things like that. I mean,
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  Speaker 3: they're just starting to like really permeate and and to
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  Speaker 3: get mixed into the into the uh, into the equation
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  Speaker 3: a little bit, which is right coming on the holiday season.
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  Speaker 3: It's kind of an unfortunate timing for that, you know.
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  Speaker 5: Well, and so you have that which is essentially a
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  Speaker 5: it's it's not a direct tax hike, but it you
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  Speaker 5: know it is. And and then you have a lot
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  Speaker 5: of of you know, tax benefits that are coming into
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  Speaker 5: the big beautiful bill, and and you know, how is
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  Speaker 5: all that going to come out?
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  Speaker 4: You know, we'll have to wait and see it. And
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  Speaker 4: here's this.
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  Speaker 3: This is a really small example of something that when
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  Speaker 3: we start talking about and an article we're going to
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  Speaker 3: talk a little bit about, is how to fund the
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  Speaker 3: American dream, Like, you know, make sure that you have
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  Speaker 3: enough that you have put away that you won't have
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  Speaker 3: enough to do whatever you want when you retire, and
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  Speaker 3: things like that. And one of the one of the
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  Speaker 3: things that that makes that kind of a tricky equation
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  Speaker 3: are things like you know, we've talked about We've talked
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  Speaker 3: about inflation and how far your money will go in
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  Speaker 3: real time. I've seen this recently, just this past weekend.
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  Speaker 3: It was it was just kind of interesting to see
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  Speaker 3: this happen. Of course, here around the radio ranch, we
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  Speaker 3: use the the ca cup coffee makers, you know, and
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  Speaker 3: so those things can get when you drink as much
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  Speaker 3: coffee as I do, they can get kind of expensive
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  Speaker 3: to you know, to drink four or five of those
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  Speaker 3: a day, you know, that can get pretty expensive. And
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  Speaker 3: so I'm always looking for really good deals of those
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  Speaker 3: as much as I can. And I don't really care
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  Speaker 3: about brand so much. I'm just looking for good deals
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  Speaker 3: and not super generic because sometimes those are a little stale.
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  Speaker 3: So anyway, I found a brand at the Walmart. It
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  Speaker 3: was pretty good. Is for a twenty four pip or
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  Speaker 3: like the price of a twelve pack. I was like
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  Speaker 3: really happy about it. So I ordered it, got it,
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  Speaker 3: got it in. Everything was fine as I was. As
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  Speaker 3: I was putting it up in my office, I noticed
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  Speaker 3: that in the bottom right hand corner where it has
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  Speaker 3: how many CA cups come in it at big giant numbers,
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  Speaker 3: it has twenty two twenty two. Wait a minute, I
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  Speaker 3: go back and look online and the picture online and
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  Speaker 3: even the the and I could I mean, I'm not
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  Speaker 3: going to do anything about this, but there was there's
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  Speaker 3: something hanky going on here. I mean, I know what happened.
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  Speaker 3: But on the Walmart order, it still had twenty four,
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  Speaker 3: and it had the price per cup per twenty four,
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  Speaker 3: and it had twenty four. But what's happened, of course,
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  Speaker 3: is this manufacturer who makes the coffee some now between
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  Speaker 3: when they reported, however, they do their SKUs or whatever
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  Speaker 3: to Walmart where they import the prices, at some point
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  Speaker 3: in time, they've had shrink flation. They're they're they're producing
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  Speaker 3: their product now with two less CA cups in it
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  Speaker 3: at the same price. Because that's that's that's a level
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  Speaker 3: of shrink flation that's going on.
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  Speaker 5: Yeah, And it's important to realize even though inflation is
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  Speaker 5: is greatly under control compared to where it was us.
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  Speaker 5: It's still it does not mean prices go down, right,
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  Speaker 5: you know, if inflation is at two and a half
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  Speaker 5: or three percent, that means prices are going up by
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  Speaker 5: two and a half or three percent, and and uh
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  Speaker 5: that's somewhat expected. I mean, a deflationary period is a
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  Speaker 5: is a dangerous thing. You be careful what you wish
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  Speaker 5: for if you want prices to come down, because it
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  Speaker 5: could create all kinds of problems. I mean, oh yeah,
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  Speaker 5: that essentially is the great depression.
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  Speaker 3: You don't want you don't want the prices to come down.
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  Speaker 3: That's for sure. That that's the way that that is.
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  Speaker 3: I mean, you know, prices can come down for the
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  Speaker 3: right reasons. You know, electronics for instance, things of that nature.
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  Speaker 3: That's that's innovation, that's productivity, that's uh, you know that
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  Speaker 3: that's driving those prices down.
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  Speaker 4: Essentially.
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  Speaker 5: You know TVs for instance, that the price of that
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  Speaker 5: has actually you know, been driven down because of positive things,
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  Speaker 5: you know, the manufacturing processes and things of that nature.
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  Speaker 5: But if you get a kind of a whole economy
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  Speaker 5: decline in prices, that creates problems because think about all
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  Speaker 5: the things that have been purchased and financed. Real estate
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  Speaker 5: in particular. You know, now all of a sudden the
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  Speaker 5: prices fall, that stuff's underwater. You know, now how many
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  Speaker 5: loans default? And how does that spill over? People are
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  Speaker 5: afraid to invest because what if the prices go down
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  Speaker 5: after I buy it.
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  Speaker 3: We saw it in just one industry in two thousand
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  Speaker 3: and seven, two thousand and eight. I mean that was
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  Speaker 3: just the mortgage industry. It was over valdu you imagine that,
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  Speaker 3: but on a larger scale, not just mortgages, but many things,
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  Speaker 3: that would be an absolute catastrophe.
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  Speaker 2: And I think that.
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  Speaker 5: You know, that's why when the Fed and economists talk
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  Speaker 5: about inflation, they never say the goal is zero, right, yeah,
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  Speaker 5: right right. You know, it's always a slow rate that
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  Speaker 5: they're trying to target. And because well, quite frankly, there
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  Speaker 5: were lots of less has learned in the Great Depression
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  Speaker 5: of how to handle that.
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  Speaker 3: I remember reading the sort of the birth of the
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  Speaker 3: two percent inflationary thing, and of course my head is
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  Speaker 3: so full of nonsense, I can never remember anything anymore,
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  Speaker 3: but it was I think we imported it from another
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  Speaker 3: country if I don't, if I remember correctly, like the
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  Speaker 3: idea of the two percent inflationary measure. But that is
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  Speaker 3: sort of a number that has been through many different
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  Speaker 3: capitalistic societies, that's been kind of processed through. It seems
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  Speaker 3: to be sort of the sweet spot. The two percent
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  Speaker 3: seems to be sort of the sweet spot.
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  Speaker 5: Yeah, and of course over time it fluctuates, might changed
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  Speaker 5: a lot higher and lower. But you know, any think,
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  Speaker 5: well that doesn't sound like much. But in our lifetimes
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  Speaker 5: fifty so years, the dollar is lost about ninety percent
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  Speaker 5: of its value. Interesting, yeah, and so that two three
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  Speaker 5: percent inflation over all that number of years has it
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  Speaker 5: does have a major impact in the value of your money. So,
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  Speaker 5: but you know, it's almost planned, and so you have
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  Speaker 5: to you know, realize that, hey, this is the way
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  Speaker 5: the game is played, and make investments and make decisions
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  Speaker 5: based on that.
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  Speaker 3: It's and there's always a measured and correct way to
• 12:15
  Speaker 3: do things, and John can help you get there. If
• 12:16
  Speaker 3: you have any questions about your financial security going into
• 12:18
  Speaker 3: the future, These things, you know, are kind of a
• 12:21
  Speaker 3: mess to try to go through and to keep your
• 12:23
  Speaker 3: head wrapped around as you're also trying to manage your
• 12:25
  Speaker 3: own life from on a day to day basis. So
• 12:27
  Speaker 3: you can give us a call this morning. You have
• 12:28
  Speaker 3: any questions about this, you can give John a call
• 12:31
  Speaker 3: today here at three or fourth three four five fifty
• 12:32
  Speaker 3: eight fifty eight. That's three four five fifty eight fifty
• 12:34
  Speaker 3: if you want to talk to John Wonder retire Rate
• 12:36
  Speaker 3: Radio this morning. Also, you can find more information online
• 12:38
  Speaker 3: at retire Rate or I'm sorry, at fourth Avenue Financial
• 12:41
  Speaker 3: dot com. Fourth Avenue Financial dot Com located at one
• 12:43
  Speaker 3: seventy Court Street right here in downtown Charleston. I'll give
• 12:46
  Speaker 3: you their number and everything a little bit later on.
• 12:48
  Speaker 3: One article that you sent to me is from the
• 12:50
  Speaker 3: Financial Department of USA today. But this is an interesting
• 12:53
  Speaker 3: perspective to look at and looking at the American quote
• 12:56
  Speaker 3: unquote the American dream, which these articles always have a
• 13:00
  Speaker 3: little bit of an issue with because what in the
• 13:01
  Speaker 3: world is the American dream? And who is it to
• 13:04
  Speaker 3: the American dream as we recognized it as something that
• 13:06
  Speaker 3: was basically manufactured over a thirty or forty year period,
• 13:09
  Speaker 3: you know, I mean, it's not even something that has
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  Speaker 3: a two hundred and fifty year history with the country,
• 13:13
  Speaker 3: So American dream, but still, I think it gives us
• 13:16
  Speaker 3: a heuristic to get into the conversation about a comfortable retirement.
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  Speaker 5: Yes, yeah, and what's important to people, I mean, certainly retirement.
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  Speaker 5: In this survey, retirement in comfort is the number one
• 13:29
  Speaker 5: issue of course they're worried about, and that when they
• 13:33
  Speaker 5: think of the American dream, they want to be able
• 13:35
  Speaker 5: to retire comfortably. Healthcare, being able to afford healthcare is
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  Speaker 5: number two. Owning an a home as a lot of
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  Speaker 5: eighty five percent of people think that's part of the
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  Speaker 5: American dream. Raising a family, you know, paying for the
• 13:49
  Speaker 5: children and helping them pay for college, Owning a new
• 13:53
  Speaker 5: car every so often, you know, going on vacation every year,
• 13:59
  Speaker 5: pets and wedding expenses, things like that.
• 14:02
  Speaker 4: How about the pets are ahead of weddings.
• 14:04
  Speaker 5: Well, yeah, you know, there aren't as many people getting
• 14:08
  Speaker 5: married as is. Lots lots more cat and dog lovers
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  Speaker 5: that there are weddings.
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  Speaker 3: Something else that isn't but it is. It is very
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  Speaker 3: and and the top line numbers are hugely top line.
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  Speaker 3: When you look at the top three, you're looking at
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  Speaker 3: eighty six, eighty six and eighty five percent. That's retire comfortably,
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  Speaker 3: afford healthcare, and to.
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  Speaker 4: Own a home. Yes, it was kind of the top
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  Speaker 4: main things there.
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  Speaker 5: Yeah, those those are the are the main things. And
• 14:31
  Speaker 5: you know, this article basically says that it takes five
• 14:35
  Speaker 5: million dollars, not in in assets, but five million dollars
• 14:39
  Speaker 5: over your lifetime to pay for those things. Now, I
• 14:43
  Speaker 5: don't know what the metrics are on, you know, how
• 14:48
  Speaker 5: they came up with these numbers exactly. I don't know
• 14:52
  Speaker 5: if they've extrapulated that out from this point with inflation
• 14:56
  Speaker 5: going forward, what it would cost. Because there is a
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  Speaker 5: line in this article that says that the average person
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  Speaker 5: with a bachelor's degree only makes two point eight million
• 15:07
  Speaker 5: dollars over their lifetime working lifetime. Well, so obviously that
• 15:12
  Speaker 5: creates a problem the way this article sounds. But conversely,
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  Speaker 5: I know an awful lot of people that are retired
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  Speaker 5: with much less than five million dollars and they feel
• 15:23
  Speaker 5: like they're living in the American dream. So I'm not
• 15:25
  Speaker 5: sure exactly the methodology behind this, other than maybe this
• 15:31
  Speaker 5: article is, you know, trying to spook people into maybe
• 15:36
  Speaker 5: saving more.
• 15:37
  Speaker 3: And somebody that evalue or is part of media that
• 15:40
  Speaker 3: evalue wates poles and things like that a lot, not
• 15:43
  Speaker 3: necessarily a part of my job. It sort of is
• 15:44
  Speaker 3: a laything in different poles. The one thing in looking
• 15:47
  Speaker 3: at this that I would say that is a little
• 15:48
  Speaker 3: bit weird. Number One, the top line thing, a comfortable retirement,
• 15:52
  Speaker 3: could almost encapsulate everything that's below it. So it's like
• 15:56
  Speaker 3: sort of like you're voting for somethings twice in some
• 15:58
  Speaker 3: ways depending on what your mind set is on that.
• 16:00
  Speaker 3: So it's kind of hard to figure that. And also,
• 16:03
  Speaker 3: all of those things don't mean that each person thinks
• 16:05
  Speaker 3: those things equally, So not all people think those top
• 16:09
  Speaker 3: three things are for them. So you know, some people
• 16:11
  Speaker 3: it's like just owning a home or just living comfortably
• 16:14
  Speaker 3: or whatever it might be, right, But you.
• 16:15
  Speaker 5: Know some people put a priority on a large family
• 16:18
  Speaker 5: exactly right, Yeah, five children, that's going to cost more
• 16:21
  Speaker 5: than no children. And you know, so that that is
• 16:24
  Speaker 5: something you're putting a priority on that that is in
• 16:29
  Speaker 5: your mind, what the what the dream is. And so
• 16:32
  Speaker 5: this is different for everybody. One of the things they
• 16:36
  Speaker 5: say that it takes about one point six million in
• 16:40
  Speaker 5: a retirement to fund a retirement, and you know, we've
• 16:44
  Speaker 5: talked about this many times. What does it take to retire?
• 16:48
  Speaker 5: It's going to be different for everyone. You know, if
• 16:50
  Speaker 5: depending on your your lifestyle. You know, one point six million.
• 16:54
  Speaker 5: If you take four percent of that, that's about sixty
• 16:57
  Speaker 5: four thousand dollars a year you could you could generate
• 17:00
  Speaker 5: in retirement income if you had a one point six
• 17:02
  Speaker 5: million dollar nest egg. You know, you take sixty four thousand,
• 17:07
  Speaker 5: you had your so security in and then all of
• 17:09
  Speaker 5: a sudden you turn around and say, okay, I can
• 17:12
  Speaker 5: see how I could retire. You know, that's for a
• 17:15
  Speaker 5: lot of folks. That is the roughly the income that
• 17:19
  Speaker 5: they they are earning generally, and so you know, those
• 17:24
  Speaker 5: numbers probably aren't too far off. It's just some of
• 17:27
  Speaker 5: the other numbers I question a little bit in the
• 17:30
  Speaker 5: in the article, But I think the point is, you know,
• 17:35
  Speaker 5: the American dream is in reach. It depends on what
• 17:38
  Speaker 5: that means to you. And whatever that means to you,
• 17:43
  Speaker 5: you have to have a plan to put a plan
• 17:45
  Speaker 5: together to achieve it, because you're not going to retire
• 17:48
  Speaker 5: with one point six million unless you started early and
• 17:52
  Speaker 5: made a plan to.
• 17:52
  Speaker 3: Do that And much to what you do here with
• 17:56
  Speaker 3: retire right Raty and what you do with Fourth Avenue
• 17:58
  Speaker 3: Financial is the thing out that plan is. It's not
• 18:01
  Speaker 3: just a document that you set and it sets in stone,
• 18:03
  Speaker 3: and then it sits there collecting money until you retire,
• 18:05
  Speaker 3: and then it's done. It's an active management case where
• 18:07
  Speaker 3: you it's a living and breathing thing where you need
• 18:09
  Speaker 3: people to need you to take a look at it
• 18:12
  Speaker 3: and be aware of the things that are going on,
• 18:14
  Speaker 3: not only from the you know, we talk about the
• 18:15
  Speaker 3: market a lot here, but it's more than just that.
• 18:17
  Speaker 3: There's a lot of details that goes into it. Proper
• 18:19
  Speaker 3: ways to structure things and to give you the most
• 18:23
  Speaker 3: where your money could do the most work for you.
• 18:25
  Speaker 3: It can get very for someone who's an expert at
• 18:28
  Speaker 3: it like you. It's it makes a lot of sense,
• 18:30
  Speaker 3: and you can deploy all those tools when somebody else,
• 18:32
  Speaker 3: Like if I'm just giving a bunch of tools for
• 18:34
  Speaker 3: building a basement, you know, for putting my stuff to
• 18:36
  Speaker 3: the basement, Like I know generally what the basement should
• 18:38
  Speaker 3: look like when it's done. I might not know how
• 18:40
  Speaker 3: to hammer some drywall to the side, but all those
• 18:42
  Speaker 3: other tools, I don't know how to use those tools,
• 18:44
  Speaker 3: you know, I don't know how to put them to
• 18:45
  Speaker 3: my advantage.
• 18:46
  Speaker 5: Expert would well, I'm no contractor, but i'd use screws,
• 18:49
  Speaker 5: not nails in that.
• 18:51
  Speaker 4: Well, yeah, good point.
• 18:53
  Speaker 5: But yeah, you know, all the things in here are
• 18:57
  Speaker 5: part of general are done before you get to retirement.
• 19:02
  Speaker 5: So you look at the survey and it says, well
• 19:04
  Speaker 5: paid for a wedding thirty eight thousand dollars. Okay, you
• 19:08
  Speaker 5: still have to save for retirement. The wedding's probably going
• 19:10
  Speaker 5: to come first. How do you prioritize that? How do
• 19:13
  Speaker 5: you make a plan for that? You know a lot
• 19:15
  Speaker 5: of folks think when they come to see me that
• 19:17
  Speaker 5: I'm just talking about their retirement, and that's not the case,
• 19:21
  Speaker 5: because all of these things that are important to you
• 19:23
  Speaker 5: happen before you get to retirement. How you deal with
• 19:26
  Speaker 5: those can impact that retirement.
• 19:28
  Speaker 3: Yeah, retiring right doesn't happen the day before you retire.
• 19:30
  Speaker 3: That's a retiring right. It's a process that you work
• 19:32
  Speaker 3: until you retire.
• 19:33
  Speaker 5: Right now, if you have twenty million dollars and come
• 19:35
  Speaker 5: in to see me the day before retirement, you're probably
• 19:38
  Speaker 5: going to be okay, Ye, I'll be happy to.
• 19:40
  Speaker 4: Talk to you. But you're a genius man. You work
• 19:42
  Speaker 4: it out.
• 19:44
  Speaker 5: But you know, typically that's not what happens. You know,
• 19:47
  Speaker 5: it's a process that you're working towards it's a it's
• 19:50
  Speaker 5: a pathway that you create and you maintain and you
• 19:53
  Speaker 5: monitor that over time when financial questions come up, like
• 19:57
  Speaker 5: the wedding or a vacation was another part of this survey.
• 20:02
  Speaker 5: You know, what, if you want to take a bigger
• 20:05
  Speaker 5: than usual vacation, you don't want to borrow to do that,
• 20:08
  Speaker 5: you should plan to do that. You know, if it's
• 20:11
  Speaker 5: going to be a ten or twelve thousand dollars European
• 20:13
  Speaker 5: vacation that's out of your norm, you know, that's something
• 20:16
  Speaker 5: you need to think about and plan for so you
• 20:18
  Speaker 5: don't derail the other goals. And those are the types
• 20:22
  Speaker 5: of questions that I hope people work through.
• 20:24
  Speaker 3: And I know we talk about this sometimes. I saw
• 20:27
  Speaker 3: a real of some kind this past weekend of one
• 20:29
  Speaker 3: of these short video influencers. I don't know if we
• 20:32
  Speaker 3: call them TikTok influencers or what anymore, but in the
• 20:35
  Speaker 3: financial space supposedly, and it's like it was like this
• 20:38
  Speaker 3: super like sort of buff guy with a cigar and
• 20:41
  Speaker 3: he's like there's all these quick cuts of him like
• 20:44
  Speaker 3: on a yacht, and him like at a nightclub and
• 20:46
  Speaker 3: all these different things, and basically the message was if
• 20:49
  Speaker 3: if you're not living your lifestyle like this, with how
• 20:52
  Speaker 3: you're investing the why are you doing it anyway? And
• 20:54
  Speaker 3: I'm like, dude, there's like so many reasons why I'm here.
• 20:58
  Speaker 3: Are you kidding me? Why are you living like that?
• 21:00
  Speaker 3: Would be my question, to be quite honest with you.
• 21:03
  Speaker 3: But I think that I think that people will be
• 21:05
  Speaker 3: quite right, okay, without whatever advice it is that you're giving.
• 21:08
  Speaker 5: Well, you know, I've saw an article about some of
• 21:11
  Speaker 5: these TikTokers and things. They actually you know, I don't
• 21:14
  Speaker 5: think you're in Charleston, but in bigger cities they actually
• 21:18
  Speaker 5: have houses and things set up that are designed for
• 21:23
  Speaker 5: people to come and record their visions.
• 21:25
  Speaker 3: Oh yeah, so they look assessed. Oh yeah, right, so
• 21:27
  Speaker 3: that looks like something. And really, if you don't know
• 21:30
  Speaker 3: this already, the secret to their success is you. Is
• 21:33
  Speaker 3: you for paying for their secret for the success. That's
• 21:36
  Speaker 3: how a lot of these things work. It's pretty amazing
• 21:38
  Speaker 3: you come to my seminar and pay me all kinds
• 21:40
  Speaker 3: of money to tell you how to get rich. When
• 21:42
  Speaker 3: you boil it all down, it's to put on a seminar. Honestly,
• 21:47
  Speaker 3: it's amazing how much that actually when you get it
• 21:49
  Speaker 3: all down to the nuts and bolts.
• 21:50
  Speaker 4: It's just to do what I'm doing. It's to charge
• 21:52
  Speaker 4: somebody else for it works out. Sometimes.
• 21:55
  Speaker 3: Let's do this, let's take a break. When we come back,
• 21:56
  Speaker 3: we still have plenty more to talk about. Hey, you
• 21:58
  Speaker 3: can get in on that too. You can give us
• 21:59
  Speaker 3: a call today zer of four three four five fifty
• 22:01
  Speaker 3: eight fifty eight. It's an auto few situations. You'll get
• 22:03
  Speaker 3: put right into hold and then you'll be asked your
• 22:05
  Speaker 3: name on the air three zero four three four five
• 22:06
  Speaker 3: fifteen fifty eight. You can also text in your questions
• 22:08
  Speaker 3: to three zero four non three five five zero zero eight.
• 22:11
  Speaker 3: John Bredett is here from Fourth Avenue Financial. More information
• 22:14
  Speaker 3: online it's fourth Avenue Financial dot com. You spell out
• 22:16
  Speaker 3: the whole thing fourth Avenue Financial dot com. You can
• 22:18
  Speaker 3: also do that search on Facebook and like the page
• 22:20
  Speaker 3: over there to be kept up to date.
• 22:21
  Speaker 4: In that manner.
• 22:22
  Speaker 3: And the phone number for Fourth Avenue Financial is three
• 22:24
  Speaker 3: zero four seven four six seven don seven seven three
• 22:27
  Speaker 3: zero four seven four six seven non seven seven. However,
• 22:29
  Speaker 3: to reach us this morning, three zero four three four
• 22:31
  Speaker 3: five fifty eight fifty eight. Will take a break and
• 22:33
  Speaker 3: be back right after this you're listening to retire Right
• 22:35
  Speaker 3: Radio with John Burdett. I'm Delle Cooper. This is five AWCHS,
• 22:38
  Speaker 3: the voice of Charleston.
• 22:39
  Speaker 6: Retire Right Radio is sponsored by Fourth Avenue Financial, which
• 22:42
  Speaker 6: is solo responsible for its content. Security is offered through
• 22:44
  Speaker 6: jw CL Financial Member FENTRECIPIIC. Investment advice offered through jw
• 22:48
  Speaker 6: COL Advisors. Fourth Avenue Financial, jw CL Financial and jw
• 22:52
  Speaker 6: COL Advisors are unaffiliated entities. The opinions expressed by John
• 22:55
  Speaker 6: Burdett should not be construed as specific investment, legal or
• 22:58
  Speaker 6: tax advice. Economic and performance information is historical and not
• 23:02
  Speaker 6: indicative of future results. Investing may involve involve risk of
• 23:06
  Speaker 6: loss of principle. Any type of advice on this show is
• 23:08
  Speaker 6: not intended to be used by any person for the
• 23:10
  Speaker 6: purpose of avoiding US federal or state tax penalties that
• 23:14
  Speaker 6: may be imposed on such a person, and each listener
• 23:16
  Speaker 6: should seek advice from their tax advisor or legal console
• 23:20
  Speaker 6: on topics that arise from the show. John Burdett is
• 23:22
  Speaker 6: not providing legal or tax advice. Nothing should be construed
• 23:25
  Speaker 6: as solicitation of an offer to buy securities. This program
• 23:28
  Speaker 6: is sponsored by Fourth Avenue Financial, which is solely responsible
• 23:31
  Speaker 6: for its content.
• 23:32
  Speaker 7: Fall is the season of adventure here in West Virginia,
• 23:35
  Speaker 7: and your journey this year starts at Walker Chrysler Dodge
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  Speaker 7: Jeep rant in Hurricane Now. No matter what you've got
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  Speaker 4: Got them off.
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  Speaker 7: Sheen and Ryan have loaded out in the lot this
• 24:00
  Speaker 7: year with inventory both new and views to make sure
• 24:03
  Speaker 7: that you're going to find something that you loved. And
• 24:05
  Speaker 7: you know that you'll find the best deal possible at
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  Speaker 7: Walker because Jeane and Ryan built their business the old
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  Speaker 7: fashioned way by making friends. There are no gimmicks or
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  Speaker 7: games at Walker, just honest fare deals.
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  Speaker 4: So what are you waiting for?
• 24:16
  Speaker 7: Fall is the season of adventure and Walker has got
• 24:19
  Speaker 7: the cars, trucks and SUV's to get you there.
• 24:21
  Speaker 2: Just take that.
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  Speaker 7: Short twenty minute drive from Charleston or Huntington. So Walker
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• 24:32
  Speaker 2: This is retire Right Radio with John Burdett from Fourth
• 24:36
  Speaker 2: Avenue Financial, taking your calls at three oh four, three
• 24:40
  Speaker 2: four five fifty eight fifty eight or texts on three
• 24:43
  Speaker 2: oh four nine three five fifty oh.
• 24:46
  Speaker 3: Eight thirteen minutes since the top the hour you give
• 25:00
  Speaker 3: so call this morning. Jehn Bredad is here from Fourth
• 25:01
  Speaker 3: Avenue Financial helping you to retire right. You can do
• 25:05
  Speaker 3: that this morning. Might give us a call it three
• 25:07
  Speaker 3: zero four three four five fifty eight fifty eight. Three
• 25:09
  Speaker 3: zero four three four five fifty eight fifty eight. You
• 25:10
  Speaker 3: can text three zero four non three five five zero
• 25:12
  Speaker 3: zero eight three zero four nine three five five zeros
• 25:15
  Speaker 3: year eight. Need to get this joke out here real
• 25:17
  Speaker 3: quick before I forget to get it out on the air.
• 25:19
  Speaker 3: We had a Paul from Tayses Valley called Metro News
• 25:22
  Speaker 3: Hotline on Friday. When we were talking it was or
• 25:24
  Speaker 3: maybe it was Thursday. It was talk like a pirate day.
• 25:25
  Speaker 3: I think it was Friday.
• 25:27
  Speaker 4: It's talk like a pirate day.
• 25:28
  Speaker 3: And of course we talked a lot about sports and
• 25:29
  Speaker 3: baseball on hotline, and Paul came in and said, I
• 25:33
  Speaker 3: have a great one for you. I for talk like
• 25:35
  Speaker 3: a Pirate Day, and he said, well, there's always next
• 25:38
  Speaker 3: year the Pittsburgh Pirates.
• 25:44
  Speaker 4: And I'm meant to get that. I get meant to.
• 25:46
  Speaker 3: Get that to weekly because he's of course a Pirates fan,
• 25:48
  Speaker 3: and I didn't get a chance to on Friday, So
• 25:50
  Speaker 3: as I thought about it, I thought I would get
• 25:51
  Speaker 3: it out because John and I were talking at the
• 25:53
  Speaker 3: beginning of the show today, right before we went on there,
• 25:54
  Speaker 3: we were talking a little bit about baseball, speaking of
• 25:56
  Speaker 3: which your Cincinnati Reds are right now in the play
• 26:00
  Speaker 3: If the MLB season would end today, the Reds would
• 26:04
  Speaker 3: be in the playoffs. After a four game sweep of
• 26:06
  Speaker 3: the Chicago Cubs in Chicago this weekend, the Reds find
• 26:09
  Speaker 3: themselves with the time breaker in place against the Mets.
• 26:12
  Speaker 3: It means that they are in the final wild card
• 26:15
  Speaker 3: slot right now with eight games left to play. So
• 26:18
  Speaker 3: you can tune into Reds Baseball tonight on five ED
• 26:21
  Speaker 3: wc HS and follow them throughout this week to see
• 26:24
  Speaker 3: if we're going to have postseason baseball this year.
• 26:26
  Speaker 4: How about that? Be interesting.
• 26:27
  Speaker 5: I didn't see that coming.
• 26:30
  Speaker 3: I tell you what, Well, it's all a function of
• 26:32
  Speaker 3: half the team's making the playoffs. I mean, because I'm
• 26:35
  Speaker 3: not so sure this Reds team is built for a
• 26:38
  Speaker 3: long playoff run. But with that starting pitch and they
• 26:40
  Speaker 3: could probably be disruptive in the first round. We'll see,
• 26:42
  Speaker 3: we'll see what happens with those things. But anyway, you
• 26:44
  Speaker 3: can still give us a call this morning. Plenty of
• 26:46
  Speaker 3: time to talk about how you can retire. Right. Threes
• 26:47
  Speaker 3: are a four three four five fifty eight fifty eight.
• 26:49
  Speaker 3: Threes are a four three four five fifty eight fifty eight,
• 26:51
  Speaker 3: and and sort of what we were talking about in
• 26:54
  Speaker 3: dancing around when we talk about the American dream. The
• 26:56
  Speaker 3: one thing that's important and what folks can help isolate
• 26:59
  Speaker 3: when they come to talk to you, is they don't
• 27:01
  Speaker 3: have to worry about what's sold to them as the
• 27:03
  Speaker 3: American dream. You know, if you're if you go back
• 27:05
  Speaker 3: and you know you're reading Faulkner or whatever, and you're like, hey,
• 27:08
  Speaker 3: this is the way that I want to I want
• 27:09
  Speaker 3: to grow up. You have your own ideas, and you
• 27:13
  Speaker 3: can help people isolate those ideas and determine what their
• 27:16
  Speaker 3: dream is going to be right, and then how to
• 27:17
  Speaker 3: budget that dream if they don't want to take a
• 27:19
  Speaker 3: vacation every year. I saw that part of this was,
• 27:22
  Speaker 3: you know, taking a yearly vacation. Not everybody likes to
• 27:24
  Speaker 3: take a yearly vacation. My mom hasn't been out of
• 27:25
  Speaker 3: her houller in in decades. She's completely happy there, even
• 27:29
  Speaker 3: in her retirement. She doesn't need to go anywhere. So
• 27:31
  Speaker 3: some people doesn't need that. So don't worry about that
• 27:33
  Speaker 3: and talk to John.
• 27:34
  Speaker 5: Yeah, and you know, the concept of the American dream evolves.
• 27:39
  Speaker 5: You know, in the fifties, you know, it was the
• 27:42
  Speaker 5: the house and the picket fence, and you know, mom
• 27:45
  Speaker 5: stayed at home with the two kids, and you know,
• 27:48
  Speaker 5: and that's not what that doesn't look that way today.
• 27:52
  Speaker 5: Things have changed and there's nothing wrong with that. It's
• 27:55
  Speaker 5: just the way things are. But you know, it's it's individual.
• 28:02
  Speaker 5: Whatever you want to achieve, you need to decide and
• 28:05
  Speaker 5: go go for it. I think globally, you know, when
• 28:08
  Speaker 5: you think of the American dream, what brings I think
• 28:12
  Speaker 5: contentment generally is saying, am I doing better than I was?
• 28:19
  Speaker 5: You know that I that I did five years ago,
• 28:21
  Speaker 5: ten years ago? Am I making progress, am I am.
• 28:24
  Speaker 5: I is my hard work paying off in results and
• 28:29
  Speaker 5: I'm achieving the things I want to do as a
• 28:31
  Speaker 5: result of that. You know, I think that really is
• 28:34
  Speaker 5: the the crux of this question of what the American
• 28:37
  Speaker 5: dream is. You know, most people want their children to
• 28:40
  Speaker 5: do as well or better than they did. You know,
• 28:42
  Speaker 5: those are the types of things because there are people
• 28:45
  Speaker 5: all up and down the economic ladder.
• 28:47
  Speaker 4: You know.
• 28:48
  Speaker 5: One of the things that has always made I think
• 28:51
  Speaker 5: America what it is is that mobility, and that mobility
• 28:56
  Speaker 5: still exists. You just have to, you know, grab that
• 29:00
  Speaker 5: wrung and start putting that plan together. And I think
• 29:04
  Speaker 5: that's really when you break it down, that American dream,
• 29:07
  Speaker 5: It's that it's the ability to be in one place
• 29:12
  Speaker 5: but see another place that you want to be and
• 29:15
  Speaker 5: be able to achieve that with hard work and effort.
• 29:18
  Speaker 3: And I think that another thing that we've kind of
• 29:21
  Speaker 3: lost in it. And I reference again back to my
• 29:23
  Speaker 3: days when I own bookstores. One things that I've noticed
• 29:25
  Speaker 3: that the trends in like biographical accounts, even some self
• 29:31
  Speaker 3: help accounts, different things along those lines. The trend in
• 29:34
  Speaker 3: the last twenty or thirty years has certainly bent more
• 29:37
  Speaker 3: towards the easy fix, the guy that became a billionaire
• 29:40
  Speaker 3: overnight because he had this one idea and suddenly everybody
• 29:43
  Speaker 3: was you know, he was everybody's guest, and suddenly, you know,
• 29:47
  Speaker 3: was hugely able to turn that into some sort of
• 29:49
  Speaker 3: monetary empire, which is great. I mean, that's that is
• 29:52
  Speaker 3: one version of the American.
• 29:53
  Speaker 5: Dream for sure, and it certainly can be done. Ali's
• 29:56
  Speaker 5: not how it's usually.
• 29:57
  Speaker 3: But it used to be. And I saw this happen too.
• 29:59
  Speaker 3: The A lot of the biographies and things that were
• 30:01
  Speaker 3: being done were by more people that had like the
• 30:04
  Speaker 3: bootstraps mentality that like work them their their way up
• 30:07
  Speaker 3: to a certain account, and that's how they then they
• 30:09
  Speaker 3: would write their book about being a business leader a
• 30:11
  Speaker 3: business understand. We're getting less of those any these days,
• 30:14
  Speaker 3: and it's more the sort of the instant satory the
• 30:17
  Speaker 3: person that woke up a billionaire. And how do you
• 30:19
  Speaker 3: wake up a billionaire? You get really lucky like you did. Man,
• 30:22
  Speaker 3: That's how you do it. You find yourself in a
• 30:24
  Speaker 3: perfect situation like you did. Some people work really hard
• 30:27
  Speaker 3: to get there, but some people find themselves in the
• 30:28
  Speaker 3: absolute perfect situation. You can't simulate that in your own life.
• 30:32
  Speaker 3: All you can do is work hard.
• 30:33
  Speaker 5: Yeah, and and not that these tech fortunes and things
• 30:37
  Speaker 5: like that weren't a result of work, but they were
• 30:40
  Speaker 5: very narrowed skills that were scalable. And you know, scalability
• 30:45
  Speaker 5: is something to you know, that's a whole other topic.
• 30:48
  Speaker 5: But but I think for most folks, if you choose to,
• 30:54
  Speaker 5: you can improve your station, whatever, whatever rung of the
• 30:58
  Speaker 5: ladder economic ladder you're on. With a little bit of
• 31:02
  Speaker 5: dedication and planning and discipline, you can move up that ladder.
• 31:06
  Speaker 5: And that's not flashy, it's not sexy or anything like that,
• 31:10
  Speaker 5: but it's true and it's doable. I have.
• 31:15
  Speaker 3: I did some work this weekend, just looking at cutting
• 31:18
  Speaker 3: some costs. Things get crazy, you know, and so every
• 31:20
  Speaker 3: once and while you got to look at these things.
• 31:21
  Speaker 3: Streaming things are crazy. When you have a kid that's
• 31:23
  Speaker 3: my age, you can't buy anything anymore. You can't just say, oh,
• 31:27
  Speaker 3: my kid likes this this educational game. I'm going to
• 31:29
  Speaker 3: pay twenty bucks and my kid can own this educational game. No,
• 31:31
  Speaker 3: You've got to pay four ninety nine a month or
• 31:33
  Speaker 3: something for it. You can't just own it anymore. You
• 31:34
  Speaker 3: can't just buy the dang thing. And so that means
• 31:36
  Speaker 3: that you have to go through and audit all of
• 31:39
  Speaker 3: your subscriptions to all these things. We homeschool our kids,
• 31:42
  Speaker 3: so a lot of these services that we get are
• 31:44
  Speaker 3: are you know, good educational services, but they're monthly, you know,
• 31:46
  Speaker 3: so you have to go through and do these. But
• 31:48
  Speaker 3: I was looking and I think that I have just
• 31:50
  Speaker 3: under two hundred dollars that I'm going to end up
• 31:51
  Speaker 3: getting rid of from different services. I'm going to take
• 31:55
  Speaker 3: a look at it and take that's monthly that I'm
• 31:56
  Speaker 3: going to get rid.
• 31:57
  Speaker 5: Of, and two hundred dollars monthly over thirty years exactly,
• 32:01
  Speaker 5: it's probably a half a million dollars or more.
• 32:03
  Speaker 3: I'm going to just revert most of that and put
• 32:05
  Speaker 3: it straight into my investment. I mean, I've already talked
• 32:07
  Speaker 3: about what we're going to do. I mean it's also
• 32:09
  Speaker 3: a little bit maybe will set aside to be able
• 32:11
  Speaker 3: to put more into our emergency fund and things like that.
• 32:13
  Speaker 3: But most of that I'm going to just turn right
• 32:15
  Speaker 3: around and en up my investments a little bit because
• 32:18
  Speaker 3: it's wasted trash money. I mean, I just have to
• 32:20
  Speaker 3: do it. It's not a comfortable situation and folks need
• 32:23
  Speaker 3: to do. I mean, you walk folks through that budging
• 32:26
  Speaker 3: their life and prioritizing things and stuff like that. But
• 32:29
  Speaker 3: it is important to do a look back every so
• 32:31
  Speaker 3: often to make sure you're not missing anything that's in
• 32:33
  Speaker 3: the nooks, in the crannies and things.
• 32:34
  Speaker 4: Yeah, no doubt about it.
• 32:35
  Speaker 5: I mean, fortunes are lost, you know, five dollars at
• 32:38
  Speaker 5: a time, and because they seem so small. Yeah, it's
• 32:43
  Speaker 5: like that's you know, it's not worth that phone call. Well,
• 32:46
  Speaker 5: it's worth that phone call. If you're going to pay
• 32:48
  Speaker 5: that for the next ten years or twenty years, it's
• 32:50
  Speaker 5: worth that phone call because that's a significant amount of
• 32:55
  Speaker 5: money when you take the compounding effect of it.
• 32:58
  Speaker 3: The one thing I remember now, I'm mad this note
• 33:00
  Speaker 3: and I thought that I said a reminder for it.
• 33:02
  Speaker 4: I'm glad I remembered it.
• 33:03
  Speaker 3: Last week I saw an article of where it is
• 33:06
  Speaker 3: now going to be where all of these little mini
• 33:08
  Speaker 3: loans that you take out when you're making purchases. So
• 33:10
  Speaker 3: if you're like I think you can even do it
• 33:12
  Speaker 3: when you're getting groceries. Now an option will come up
• 33:14
  Speaker 3: and say would you like to spread this over four payments?
• 33:16
  Speaker 3: Or whatever it is. And I remember having a discussion
• 33:18
  Speaker 3: with somebody one time who didn't struggle for money, but
• 33:22
  Speaker 3: they were like, I do this all the time. Why
• 33:23
  Speaker 3: not I have the money anyway? So you know, if
• 33:25
  Speaker 3: I need some extra cash from one time or another,
• 33:27
  Speaker 3: I have it. Well, guess what, all of this stuff's
• 33:29
  Speaker 3: going to start counting against your credit very soon in
• 33:32
  Speaker 3: twenty twenty six. All of these are going to go
• 33:34
  Speaker 3: towards your If you miss the payments, it's going to
• 33:36
  Speaker 3: go in your credit. It's going to go towards your
• 33:38
  Speaker 3: usable credit. The whole thing is going to go in
• 33:40
  Speaker 3: your credit. So be very careful when using these These
• 33:44
  Speaker 3: break up your payment things.
• 33:45
  Speaker 5: Yeah, pretty much. If you can't pay for it, then
• 33:48
  Speaker 5: you probably shouldn't buy your groceries.
• 33:50
  Speaker 4: Man, you don't want to. You don't want to finance
• 33:52
  Speaker 4: your groceries. No, that is uh.
• 33:53
  Speaker 3: I mean obviously don't want to. You don't want to starve,
• 33:55
  Speaker 3: But I mean you shouldn't be in a situation where
• 33:57
  Speaker 3: you're financing your gros.
• 33:58
  Speaker 5: You know, we've gone over at time time again when
• 34:00
  Speaker 5: you talk about how do you become successful? You live
• 34:04
  Speaker 5: below your means and if you have credit card debt,
• 34:07
  Speaker 5: revolving debt, consumer debt, things of that nature. That right
• 34:12
  Speaker 5: there shows you at some point along the way you
• 34:16
  Speaker 5: didn't live below your means. You wouldn't have that debt
• 34:20
  Speaker 5: if you had your budget under control. And so if
• 34:25
  Speaker 5: you're out there and you have credit card debt, which
• 34:27
  Speaker 5: most people do, you know, and you're finding it hard
• 34:30
  Speaker 5: to get ahead, it's not it's nothing other than your budget.
• 34:35
  Speaker 5: I mean, that's that's all it can be.
• 34:38
  Speaker 3: And there and you get targeted on purpose. I've seen
• 34:41
  Speaker 3: these things when you check out and it's like, you're
• 34:43
  Speaker 3: just spend fifty bucks, right, And I'll pop up a
• 34:45
  Speaker 3: window and said, do you want to spend fifty bucks
• 34:47
  Speaker 3: today or would you rather spend eleven forty nine today
• 34:50
  Speaker 3: and then over the next five times only spend eleven
• 34:52
  Speaker 3: forty nine?
• 34:52
  Speaker 4: Isn't that much better? And I'm like, no, it's not.
• 34:54
  Speaker 4: Just let me get my thing and move on.
• 34:56
  Speaker 3: But how many people muscle like that option, you know,
• 34:58
  Speaker 3: either not thinking about it or or just saying, well,
• 35:01
  Speaker 3: I mean less money today is great, Oh, no finance charges,
• 35:03
  Speaker 3: let's go ahead and do this. And I'm just saying, man,
• 35:05
  Speaker 3: at some point, you know, one time you miss a
• 35:07
  Speaker 3: payment because you had an emergency and your checking account
• 35:10
  Speaker 3: was empty and they tried to take the money out
• 35:12
  Speaker 3: of it or whatever. You can't get it goes in
• 35:13
  Speaker 3: your credit report, and then what happens, you know, I mean,
• 35:17
  Speaker 3: that's just bad news.
• 35:18
  Speaker 5: And there's always risk when you take of that, even
• 35:20
  Speaker 5: if it is quote interest free. One of the mistakes
• 35:24
  Speaker 5: we made when my wife and I first got together.
• 35:27
  Speaker 5: We were young and poor and everything that you know
• 35:30
  Speaker 5: young people are, and we needed a washer and dryer,
• 35:35
  Speaker 5: and so we went to Sears and bought a washer
• 35:38
  Speaker 5: and dryer and it was twelve months same as cash
• 35:42
  Speaker 5: or something like that, no interest essentially what they you know,
• 35:46
  Speaker 5: you had to have it paid off though by then,
• 35:48
  Speaker 5: or they would revert back and charge you interest from
• 35:50
  Speaker 5: there beginning right. You know, I missed that payment by
• 35:53
  Speaker 5: three days and you know, basically paid double for that
• 35:58
  Speaker 5: washer and tryer.
• 35:59
  Speaker 3: All those home deals that you get for same as
• 36:02
  Speaker 3: for no interest. That that's only if you don't miss
• 36:04
  Speaker 3: any payments, and then you get all that interest slamm
• 36:07
  Speaker 3: doing you if you do, you have to be very
• 36:08
  Speaker 3: careful about that stuff for sure.
• 36:10
  Speaker 5: Now you know I did that when I was young,
• 36:12
  Speaker 5: and I learned a lesson. So if you're out there listening,
• 36:15
  Speaker 5: don't think your financial advisor is financing his watch for
• 36:19
  Speaker 5: a dryer.
• 36:20
  Speaker 3: Yeah right, you learned that lesson. If that was bad,
• 36:23
  Speaker 3: I keep on thinking back.
• 36:24
  Speaker 4: I don't.
• 36:24
  Speaker 3: I guess these places probably exist to some degree. But
• 36:26
  Speaker 3: I remember when I was a young man and a
• 36:29
  Speaker 3: lot of my cohort, a lot of kaids my age,
• 36:31
  Speaker 3: were teenagers my age were getting their own places. Everybody
• 36:34
  Speaker 3: was going upside down on renta centers. You know, they
• 36:37
  Speaker 3: would go in and get like their stereo or rent
• 36:39
  Speaker 3: a center, and that was one you didn't need any
• 36:40
  Speaker 3: credit because they just charged you out the Like, how
• 36:43
  Speaker 3: was it even legal? The amount of money they charged
• 36:45
  Speaker 3: you for those things. I mean, you would get your
• 36:47
  Speaker 3: stereosystem that would cost two hudred and fifty dollars. You'd
• 36:49
  Speaker 3: pay one thousand dollars for it over the course of
• 36:51
  Speaker 3: like six months or something. It was insane. It was
• 36:54
  Speaker 3: like payday loans. Yeah, how much interest did they charged
• 36:57
  Speaker 3: you on those things? And then if you missed one payment,
• 36:59
  Speaker 3: they just took the.
• 37:00
  Speaker 5: Krepac Well on they advertise it, you know, you know
• 37:03
  Speaker 5: it's a problem when they're advertising the payment in weekly.
• 37:06
  Speaker 5: Yeah right, that's that's a huge print us for twelve
• 37:08
  Speaker 5: dollars a week.
• 37:09
  Speaker 3: John Bredett with Fourth Avenue Financial, let me get to
• 37:11
  Speaker 3: the information out to you one more time. Fourth Avenue
• 37:13
  Speaker 3: Financials located one seventy Court Street, Downtown Charleston. Their phone
• 37:17
  Speaker 3: numbers three zer a four seven four six seven down
• 37:19
  Speaker 3: seven seven three zer a four seven four six seven
• 37:21
  Speaker 3: non seven seven online Fourth Avenue Financial dot Com. Fourth
• 37:24
  Speaker 3: Avenue Financial dot Com. You'll save that page on Facebook. John,
• 37:27
  Speaker 3: Thanks a bunch of your time again this week.
• 37:28
  Speaker 4: All right, thank you. Take care Every Monday.
• 37:30
  Speaker 3: Retire right Radio right here on five ad w c HS,
• 37:33
  Speaker 3: the Voice of Charleston with John Burdett. Thanks so much
• 37:35
  Speaker 3: for tuning in today. Have fun listening the rest of
• 37:37
  Speaker 3: the day of five ad W c HS. We are
• 37:39
  Speaker 3: the voice of Charleston.
• 37:42
  Speaker 4: Five ADWHS amninty six point five.
• 37:44
  Speaker 2: That's on Charleston one oh four point five Cross Lane
• 37:47
  Speaker 2: on WVRC Media station. We're proud to live here too.