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Retire Right Radio – SpaceX's IPO, AI's Market Correction, and Early Retirement Buyout Decisions · WCHS Network Podcasts

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  Speaker 1: The views and opinions expressed on this program do not
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  Speaker 1: necessarily reflect the views and opinions of five ADWCHS it's
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  Speaker 1: employees or WVRC Media. This is retire Right Radio, a
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  Speaker 1: weekly show from John Verdett at Fourth Avenue Financial that
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  Speaker 1: aims to answer your questions about financial planning, investing, and
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  Speaker 1: how to retire right. Fourth Avenue Financial is located in
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  Speaker 1: downtown Charleston at one seventy Court Street. More information online
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  Speaker 1: at Fourth Avenue Financial dot com. Join the conversation by
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  Speaker 1: calling three oh four three four five fifty eight fifty
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  Speaker 1: eight or text three oh four nine three five fifty
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  Speaker 1: oh eight. On Retire Right Radio, Let's go live to
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  Speaker 1: the studio with host Dale Cooper and John Verdett from
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  Speaker 1: Fourth Avenue Financial.
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  Speaker 2: JOS, Hello, good morning, and how you doing. You're listening
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  Speaker 2: to the Voice of Charleston five eight WCCHS. I'm delo.
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  Speaker 2: It's a Wednesday morning. Don't let your ears trick you.
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  Speaker 2: So Wednesday morning and in studio with me right now.
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  Speaker 2: It is John Bredett from Fourth Avenue Financial helping you
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  Speaker 2: to tune up your financial health, getting ready for retirement,
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  Speaker 2: helping you retire right. Hence the name of the program,
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  Speaker 2: retire Right Radio and John Bredett from Fourth Avenue Financial.
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  Speaker 2: How you doing this morning, John, Oh pretty good. Appreciate
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  Speaker 2: you coming in this morning, and we have lots of
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  Speaker 2: stuff to talk about.
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  Speaker 3: Oh yeah, yeah, we can get into all kinds of
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  Speaker 3: fun stuff.
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  Speaker 2: You can join in in the conversation if you'd like,
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  Speaker 2: you can send us. You can send us a text
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  Speaker 2: message that's three zero four none three five five zeros
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  Speaker 2: or eight three zero four nine three five five zeros
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  Speaker 2: R eight. You can also get a hold of us
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  Speaker 2: like the pioneers did on the phone line. The phone
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  Speaker 2: line number is three zero four three four five fifte
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  Speaker 2: eight fifty eight. Three zero four three four five fifty
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  Speaker 2: eight fifty eight is our number. Tons of stuff we
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  Speaker 2: can get into this morning, Fourth Avenue Financial Online, Fourth
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  Speaker 2: Avenue Financial dot com. You can spell out the whole
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  Speaker 2: thing and find the website Fourth Avenue Financial dot com.
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  Speaker 2: You can also do that search on Facebook and like
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  Speaker 2: the page over there. So taking a look as far
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  Speaker 2: as we always try to take a look back at
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  Speaker 2: the last week, and I guess the beginning of this
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  Speaker 2: week now since we're on a Wednesday. As far as
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  Speaker 2: the market and the economy and things go well. The
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  Speaker 2: market and economy are not necessarily the same thing. So
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  Speaker 2: the market's going very very well. I I guess, Uh,
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  Speaker 2: we're setting records and there's there's there's new numbers out there.
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  Speaker 2: I mean, the market's going fine.
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  Speaker 3: Yeah, and the underlying underlying earnings are coming in, uh,
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  Speaker 3: coming in hot. I mean they're they're kind of outperforming expectations,
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  Speaker 3: which is driving the market forward. For some reason. The
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  Speaker 3: oil prices are are falling a little bit.
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  Speaker 2: Uh, I'm seeing I'm sure we'll see that reflected at
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  Speaker 2: the pump immediately. Yeah, it's right.
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  Speaker 3: But apparently the market expectation is that, uh, you know,
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  Speaker 3: something is going to come to a head in the
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  Speaker 3: in the Middle East. H If you look at futures prices,
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  Speaker 3: you know it's projecting by year in the oil prices
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  Speaker 3: being back kind of normalized where roughly where we started
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  Speaker 3: the uh you know, Iran war.
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  Speaker 2: Uh.
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  Speaker 3: So you know, if that's the case, if it turns
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  Speaker 3: out to be something that goes back down to where
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  Speaker 3: we started, then you know, maybe maybe we get through
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  Speaker 3: this with corporate earnings and it doesn't really long term
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  Speaker 3: effect corporate earnings.
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  Speaker 2: Man, that would that would be nice to see something
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  Speaker 2: like that. Let's see on the other side, I did
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  Speaker 2: see a bunch of the Sharp's projections from like two
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  Speaker 2: months ago talking about this is almost over and that
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  Speaker 2: was and that was driving some of the sentiment then
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  Speaker 2: that hey, where the the end is on the cusp?
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  Speaker 2: And there was I mean a lot of the people
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  Speaker 2: that that, uh, that do this for a living was like,
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  Speaker 2: there's not much going on here. It just keeps going
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  Speaker 2: and going and going on. Yeah.
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  Speaker 3: It's one of those things where you look at the
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  Speaker 3: news and you do wonder, uh, you know, one, oh,
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  Speaker 3: we're close to a deal, and then you hear statements
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  Speaker 3: that say, well, that doesn't sound any different than it
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  Speaker 3: sounded a few weeks ago.
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  Speaker 2: So ocean has always been at war, ocean has always
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  Speaker 2: been so well yeah, right, But but the bottom line
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  Speaker 2: is and those those are the things that that and
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  Speaker 2: it's we do it. I mean, it's really easy to
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  Speaker 2: get tripped up with our headlines because there's a lot
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  Speaker 2: of crazy sounding stuff going on, or at least, right
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  Speaker 2: you know, a lot a lot going on regardless of
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  Speaker 2: how you classify. But the bottom line is that for
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  Speaker 2: the bread and butter that you make and for people
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  Speaker 2: that are looking to retire, retire either in the mediate
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  Speaker 2: future or in the in the in the in the
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  Speaker 2: long term future. It doesn't really change how we butter
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  Speaker 2: our bread, so to speak. We still got to do
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  Speaker 2: what we got to do to get to that point.
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  Speaker 3: No, and this is a good example too, of of
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  Speaker 3: not falling victim to emotional decision making with headlines, because
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  Speaker 3: clearly the market has gone up in a time period
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  Speaker 3: where most people would look at the headlines and say,
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  Speaker 3: this cannot be good for the market. And and that's
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  Speaker 3: why it's so dangerous to try to time it and
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  Speaker 3: and you know, pick the time to get out because
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  Speaker 3: you think something's going to happen, will it doesn't happen. Well,
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  Speaker 3: now let's say you did get out, and and are
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  Speaker 3: you back in now that it's at record highe. You know,
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  Speaker 3: you've got to be right on all those decisions, not
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  Speaker 3: just when to get out, but when to get back in.
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  Speaker 3: It becomes an emotional rollercoaster. And you know, statistics show
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  Speaker 3: that that is not an effective way to manage a portfolio.
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  Speaker 3: You know, you your allocation is what decides when you're
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  Speaker 3: going in and out of the market. You know, are
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  Speaker 3: you overweight to the sector in the in in your portfolio.
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  Speaker 3: If so, you know, you can pare that back and rebalance,
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  Speaker 3: but it's never all in or all out because it's
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  Speaker 3: it's just you can't predict it.
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  Speaker 2: And that's really one of the brilliants of the funds.
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  Speaker 2: I mean, we talk about these things all the time,
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  Speaker 2: but the fund is like several layers of protection for you. You
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  Speaker 2: you like what a fund provides to you and and
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  Speaker 2: the mix of the stocks and things that it does.
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  Speaker 2: But then then they have managers within those and so
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  Speaker 2: if they have tech industries and different things like that
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  Speaker 2: and the market starts to rotate a little bit, they
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  Speaker 2: also rotate within the within the fund, and so there's
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  Speaker 2: a little extra protection in there. I guess. Yeah.
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  Speaker 3: I mean the name of the game is diversification and
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  Speaker 3: in long term participation in the market. You know, I
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  Speaker 3: saw something that you know, SpaceX is going to IPO
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  Speaker 3: with the crazy high valuation.
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  Speaker 2: Crazy I know, we had we're we're looking at getting
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  Speaker 2: a guest on just to talk about this in hotline
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  Speaker 2: in the afternoon. It kind of right. We love talking
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  Speaker 2: about space stuff and Dave loves business stuff. So I mean,
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  Speaker 2: this is one of those things that that kind of
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  Speaker 2: crosses over. We want we're going to do a segment
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  Speaker 2: on that coming up, because it's that's huge. I mean,
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  Speaker 2: what what SpaceX is looking at doing Yeah.
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  Speaker 3: Trillion, I mean at one point seven trillion or something
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  Speaker 3: like that, and saying I think I saw it. It's
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  Speaker 3: it's it's larger than the top ten European companies combined.
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  Speaker 2: That's amazing. So yeahs as. I don't know if there's
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  Speaker 2: many other readers out there, especially of like like hard
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  Speaker 2: sci fi and things along those lines. But the thing
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  Speaker 2: is somewhat alarming is like everything in the last five
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  Speaker 2: years was all written about by specutive fiction writers fifteen
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  Speaker 2: years ago, twenty years ago, or in some cases fifty
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  Speaker 2: years ago, you know, and not all of those worked
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  Speaker 2: out well for humanity. I'm hoping the real life is
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  Speaker 2: a little better, to be honest with you. But it's funny,
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  Speaker 2: like the SpaceX thing mirrors so many fictional conceptions of
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  Speaker 2: corporate entities in space and how it all starts and
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  Speaker 2: stuff like that. I mean, it's like Elon read the
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  Speaker 2: book and it's like, hey, let's let why don't we
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  Speaker 2: do this, Like everybody said, was like not a bad idea,
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  Speaker 2: but how it all starts.
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  Speaker 3: I guess you know, it starts like a James Bond movie.
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  Speaker 3: It's like, let's put a giant laser up here.
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  Speaker 2: It really is, but that's that's neither here nor there.
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  Speaker 2: But that's another thing, like it's a headline driver, but
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  Speaker 2: it could be important.
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  Speaker 3: It is a headline driver, and there's always a fear
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  Speaker 3: of missing out. And so I'm sure you know, folks
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  Speaker 3: will start calling, hey, let's get into SpaceX and and
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  Speaker 3: that sort of thing, and maybe chase it. But you
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  Speaker 3: have to remember, if you have a diversified portfolio, you're
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  Speaker 3: owning et I sure any mutual funds in your portfolio,
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  Speaker 3: you're going to get a piece of that inside that portfolio.
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  Speaker 3: And you don't have to chase it. You just have
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  Speaker 3: to participate. So even things like that that seem like
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  Speaker 3: it's something you can't miss out on, well, if you're
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  Speaker 3: participating in the market, you know that's a large enough company,
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  Speaker 3: you're going to have a piece of that in your portfolio.
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  Speaker 2: I think that a great example that I saw this.
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  Speaker 2: I was talking about a Dave in the afternoon and
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  Speaker 2: when he's heavily into these things, and he was really
• 8:28
  Speaker 2: interested when a lot of the states were going to
• 8:30
  Speaker 2: legalization for marijuana and stuff, is like, you can't invest
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  Speaker 2: in that directly. But eventually there were some something funds
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  Speaker 2: that were developed where you could get into it that way,
• 8:40
  Speaker 2: and it ended up not being really much of a play,
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  Speaker 2: but I just thought it was interesting that was one
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  Speaker 2: of the things he was waiting for on the sidelines,
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  Speaker 2: was for something that to come up so he could
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  Speaker 2: play into it a little bit without taking any of
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  Speaker 2: the risks or you know, something that you can't even
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  Speaker 2: federally do. So those strategies are at play at pretty
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  Speaker 2: much anytime.
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  Speaker 3: Yeah, yeah, there's always something going on, and if it
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  Speaker 3: really takes off going to participate in it. You know,
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  Speaker 3: the market is different now than it used to be
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  Speaker 3: in that IPOs are much larger than they ever have
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  Speaker 3: been before. So you know, it used to be that
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  Speaker 3: whole Microsoft comes out and is going public in nineteen
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  Speaker 3: what it was in nineteen eighty six, I think the
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  Speaker 3: evaluation of that was still it was still a small company. Now,
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  Speaker 3: companies stay private and private equity is is investing in
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  Speaker 3: funding and then when it goes public, it's already a
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  Speaker 3: much larger entity, and so sometimes the chase, you know,
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  Speaker 3: a lot of the juice is gone if a company
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  Speaker 3: takes off because it wasn't even a public company up
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  Speaker 3: until that point. So it's a little different than it
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  Speaker 3: used to be too, chasing things like that. It's like,
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  Speaker 3: you say, SpaceX is one point two or seven trillion
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  Speaker 3: dollar valuation they're targeting on the IPO.
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  Speaker 2: You know that's not a small company that is. That's uh,
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  Speaker 2: that's pretty insane. Uh Well, it's an interesting story to watch,
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  Speaker 2: that's for sure, because you know, the one private entity
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  Speaker 2: in space means that there's going to be a bunch,
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  Speaker 2: you know. So, I mean SpaceX may may be the
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  Speaker 2: first that commercializes this. Who knows how that's going to
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  Speaker 2: end up plan out, but it seems like that because
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  Speaker 2: it's like kind of an unknown the money that is
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  Speaker 2: going to be moving one way or the other, and
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  Speaker 2: that is probably going to be immense. So that so
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  Speaker 2: again that's like your fear of missing out. But also
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  Speaker 2: you know there could be bubbles in space too, you know,
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  Speaker 2: things you got to be careful about all absolute and
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  Speaker 2: let things play itself out.
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  Speaker 3: And when things like that happen there there are going
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  Speaker 3: to be investments that these companies make that are incorrect
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  Speaker 3: I mean, any business makes decisions that don't pan out.
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  Speaker 3: It's you know, I make decisions in my business that
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  Speaker 3: mass probably shouldn't have done that I'm gonna have to
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  Speaker 3: back up, punt and try something else. That's the process
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  Speaker 3: of being successful. You have to have those small failures
• 11:02
  Speaker 3: along the way. And I'm sure, but what happens when
• 11:05
  Speaker 3: a company gets evaluation like that. Now it has access
• 11:09
  Speaker 3: to the public markets and capital and so all of
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  Speaker 3: these ideas. You think, well, how are they going to
• 11:14
  Speaker 3: do that? Well, all of a sudden, the funding can
• 11:16
  Speaker 3: be there and and that's that's where some of those
• 11:21
  Speaker 3: developments and things come. And if you think about the
• 11:24
  Speaker 3: the dot com bubble and that sort of thing, you know,
• 11:27
  Speaker 3: everybody was putting money into laying fiber cables under the ocean,
• 11:31
  Speaker 3: and you know, all of these things. Even even in
• 11:35
  Speaker 3: that time, there was a satellite company I think it
• 11:37
  Speaker 3: was a Ridium or something like that that people are
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  Speaker 3: we're going to have the Internet in space and all
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  Speaker 3: of that, and uh, you know a lot of those
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  Speaker 3: things didn't didn't pan out, and there was and there
• 11:47
  Speaker 3: was a bus, but some of those things did, and
• 11:51
  Speaker 3: some of those assets that the original company failed upon
• 11:58
  Speaker 3: were then picked up for these on the dollars in
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  Speaker 3: the in the in the wreckage, and another company then
• 12:04
  Speaker 3: was able to take that and turn it into something.
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  Speaker 3: You know, those all of those fiber cables, you know
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  Speaker 3: that they did have utility to them, a value to them.
• 12:15
  Speaker 3: It's just the the financials did work out for the
• 12:18
  Speaker 3: original companies that put those in the in the ground
• 12:21
  Speaker 3: or under the ocean.
• 12:22
  Speaker 2: One line payment centers too, where PayPal kind of took over.
• 12:25
  Speaker 2: There were people probably don't remember. There were used to
• 12:27
  Speaker 2: be dozens of them. It wasn't just PayPal at one time.
• 12:29
  Speaker 2: You know, there were a bunch of them. And I
• 12:31
  Speaker 2: think that PayPal also ended up absorbing some of those
• 12:33
  Speaker 2: ones that failed and you know, took some of their technology.
• 12:36
  Speaker 2: And I mean that's how it works, you know.
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  Speaker 3: And you'll see in space, just like any other industry,
• 12:43
  Speaker 3: if one company has success, there will be competition.
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  Speaker 2: That's really Uh, that is true. That is true. In
• 12:49
  Speaker 2: competition is good. Yeah, that's good. It's just uh, when
• 12:52
  Speaker 2: we're when we're dealing with something that's so big and
• 12:56
  Speaker 2: out there, you know, they're and one of the things
• 12:58
  Speaker 2: that that I'm curious about is, boy, it's a space
• 13:02
  Speaker 2: where it's it's a place where people can really spend
• 13:06
  Speaker 2: some yarns for investors, you know, like like there's a
• 13:09
  Speaker 2: lot of promising you know, cold fusion. I mean, who
• 13:12
  Speaker 2: knows what it's like, what it's going to be exactly.
• 13:15
  Speaker 2: And they're not all investors, but there's gonna be some
• 13:17
  Speaker 2: people out there that it's like, oh, you know, we're
• 13:19
  Speaker 2: going to be printing gold on Mars in twenty years, okay,
• 13:22
  Speaker 2: you know, I mean you never know. There's gonna be
• 13:23
  Speaker 2: people that are going to do some wild stuff and
• 13:25
  Speaker 2: invest in wild things, right, But I mean that's I mean,
• 13:28
  Speaker 2: it all comes through, you know, at the end, you
• 13:30
  Speaker 2: find the technologies that work and the ones that don't
• 13:33
  Speaker 2: get cast off, I guess. But it's a pretty interesting
• 13:36
  Speaker 2: time for things like that.
• 13:37
  Speaker 3: And you can either be the cowboy that tries to
• 13:40
  Speaker 3: to you know, pick out the winner, or you can
• 13:44
  Speaker 3: just participate and understand that you know, some of these
• 13:47
  Speaker 3: companies are going to fail, but they you know, are
• 13:52
  Speaker 3: still pushing the envelope and and and you know that's
• 13:56
  Speaker 3: why a company fails. You know, people vote with their
• 13:59
  Speaker 3: dollars and if something sounds good but in reality doesn't
• 14:04
  Speaker 3: play out, then that idea gets pushed to the side.
• 14:08
  Speaker 3: You know, that's the beauty of our system. You know,
• 14:13
  Speaker 3: companies are allowed largely allowed to try things and fail,
• 14:19
  Speaker 3: and that's a good thing. That's a good thing, I'd
• 14:22
  Speaker 3: say largely because we did have some bailouts several years ago.
• 14:26
  Speaker 3: But you know, for the most part, if you try
• 14:30
  Speaker 3: something and it doesn't work well, then you go out
• 14:34
  Speaker 3: of business or you lose money and have to do
• 14:37
  Speaker 3: something else. And that's that's the market response. That's that's
• 14:42
  Speaker 3: the indicator that tells you you're on the right track
• 14:46
  Speaker 3: or not.
• 14:47
  Speaker 2: You have to questions for John Burdet this morning. You're
• 14:48
  Speaker 2: welcome to wagh In. Three zero four three four five
• 14:50
  Speaker 2: fifteen fifty eight three four five fifteen fifty. You can
• 14:52
  Speaker 2: text threes are four nine three five five zeros or
• 14:54
  Speaker 2: eight three zero four none, three five five zeros or
• 14:56
  Speaker 2: eight is our tax line number. A great illustration, I think,
• 14:59
  Speaker 2: and I've mentioned a couple times, but it's becoming really
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  Speaker 2: evident now that the moral panic around AI, either the
• 15:06
  Speaker 2: moral panic or the fear of missing out. I think
• 15:08
  Speaker 2: it started as the fear of missing out, and then
• 15:09
  Speaker 2: there became sort of a moral panic with it. And
• 15:11
  Speaker 2: I'm not saying there's not going to be some job
• 15:13
  Speaker 2: disruptions and things along those lines. There's certainly probably going
• 15:15
  Speaker 2: to be. However, you're starting to see all these companies
• 15:18
  Speaker 2: that were investing a ton in their AI already starting
• 15:20
  Speaker 2: to spin back and redirecting funds elsewhere. Doesn't mean there
• 15:23
  Speaker 2: won't be another use later where they reinvest in it
• 15:25
  Speaker 2: or something along those lines, but they're finding that the
• 15:28
  Speaker 2: uses aren't as broad as what they may have thought,
• 15:31
  Speaker 2: and so they're having to bring some of that budgeting
• 15:33
  Speaker 2: back in. There might be a different path where later
• 15:36
  Speaker 2: that takes off. But again that's the adjustment that people
• 15:38
  Speaker 2: are doing as reality sets in. Oh wait a minute,
• 15:40
  Speaker 2: this thing isn't a superhuman android that can do everything
• 15:43
  Speaker 2: for me. We're going to still have to have people involved,
• 15:45
  Speaker 2: and we're going to have to take some of this away.
• 15:47
  Speaker 2: It may not be perfect, but there's a settling that
• 15:49
  Speaker 2: takes place. Water finds its balance.
• 15:51
  Speaker 3: Yes, and you know, like I say, right now, I
• 15:54
  Speaker 3: use a AI in my business for small job, but
• 16:00
  Speaker 3: it certainly isn't going to take over my business. It
• 16:04
  Speaker 3: just helps me be more efficient in certain areas, and
• 16:08
  Speaker 3: I think that's what I think that's where we are
• 16:10
  Speaker 3: right now, this idea of some super intelligence and it's
• 16:13
  Speaker 3: going to take over everything. You know, I don't know
• 16:16
  Speaker 3: what the future holds, but certainly we're not there right now. No, no,
• 16:19
  Speaker 3: And if you use these things, you know that, yes,
• 16:21
  Speaker 3: you know that, right and and you know we'll we'll
• 16:26
  Speaker 3: just see how it plays out. But anytime there's a
• 16:27
  Speaker 3: new technology, people get kind of over overhyped and over
• 16:31
  Speaker 3: emotional and and and sometimes technology moves faster than people do.
• 16:37
  Speaker 3: You know, people have to adjust and accept the technology
• 16:44
  Speaker 3: even though it you know, even though it's better, you know,
• 16:47
  Speaker 3: you still have to move along. You know, there are
• 16:49
  Speaker 3: things in my business I could certainly implement, but I
• 16:53
  Speaker 3: don't think my client base would be comfortable with some
• 16:58
  Speaker 3: of those. So, yes, it's a tool, but maybe it's not,
• 17:03
  Speaker 3: you know, ready for prime time because people aren't there yet,
• 17:06
  Speaker 3: right right, And so you know, things aren't going to
• 17:09
  Speaker 3: move things you're going to move fast, but but people
• 17:12
  Speaker 3: have to come along with it or the dollars won't
• 17:14
  Speaker 3: flow with the people.
• 17:16
  Speaker 2: I hope to see some of the unspinning. And this
• 17:18
  Speaker 2: is just a side commentary here where a lot of
• 17:21
  Speaker 2: the private businesses are starting to unwind. I mean, and
• 17:24
  Speaker 2: they're investing different areas in AI, but some of it
• 17:26
  Speaker 2: they're starting to say, Okay, we need to wait or
• 17:27
  Speaker 2: we're going to reallocate for now. I hope the governments
• 17:30
  Speaker 2: do the same thing because some of the stuff that
• 17:32
  Speaker 2: I've been hearing about using artificial intelligence for like healthcare
• 17:36
  Speaker 2: scoring and to determine eligibility for medical coverage and planting,
• 17:39
  Speaker 2: that all sounds like terrible ideas to right, right, And
• 17:42
  Speaker 2: so I hope that we that we that we spin
• 17:45
  Speaker 2: that back a little bit.
• 17:45
  Speaker 3: Well, the thing about it, I saw an article that
• 17:49
  Speaker 3: I didn't dig too far in it, but I thought
• 17:50
  Speaker 3: the headline was good. It it talked about AI, and
• 17:54
  Speaker 3: it's like, you know, as a human being, you actually
• 17:59
  Speaker 3: have intelligence, actual intelligence.
• 18:01
  Speaker 2: Actual intelligence. Orry, yeah, man, and.
• 18:04
  Speaker 3: You know where you can creatively think and put put
• 18:07
  Speaker 3: ideas together and and implement and understand like you say, yes,
• 18:14
  Speaker 3: this tool is here, but this tool might not be
• 18:16
  Speaker 3: something people are ready for. And those are the types
• 18:19
  Speaker 3: of decisions to keep a business successful and profitable, not
• 18:22
  Speaker 3: just simply cramming ideas and inventions out on their customer base.
• 18:28
  Speaker 3: If the customer base isn't ready for it, yeah, and
• 18:31
  Speaker 3: so that you know, is it a progress going to
• 18:33
  Speaker 3: be made? Absolutely? But you know, these fears that you
• 18:38
  Speaker 3: know next year to one will have a job I
• 18:40
  Speaker 3: think are way, way, way, way overblown.
• 18:43
  Speaker 2: I think that the culture personality with some of the
• 18:46
  Speaker 2: tech leaders and the billionaires and stuff, is it kind
• 18:49
  Speaker 2: of poisons the will on either way that you look
• 18:51
  Speaker 2: at it. A lot of the times some people are
• 18:54
  Speaker 2: suddenly because of Elon Muck's for way into politics, suddenly
• 18:58
  Speaker 2: they're like, well, I'm not touching Tesla or space X
• 19:01
  Speaker 2: or whatever. I mean, if you want to make an
• 19:04
  Speaker 2: ethical stand, I guess you can. But also that his weirdness,
• 19:07
  Speaker 2: if you assume that in some regards does not affect
• 19:10
  Speaker 2: like if you really have SpaceX with a trillion dollar
• 19:13
  Speaker 2: po and things like this, I mean that could miss
• 19:16
  Speaker 2: out on actual opportunity just because you personally dislike somebody.
• 19:19
  Speaker 2: I mean, if you knew every single CEO of every
• 19:21
  Speaker 2: single company in the world, how many of them do
• 19:23
  Speaker 2: you think you're personally going to like? I mean fifty
• 19:25
  Speaker 2: to fifty at best, probably right right right?
• 19:27
  Speaker 3: I mean they're human beings.
• 19:28
  Speaker 2: Exactly, so just because somebody is particularly in the public, ah,
• 19:32
  Speaker 2: you know, you might be making all these decisions and
• 19:36
  Speaker 2: you're just going to tie yourself up in what you
• 19:38
  Speaker 2: think are ethical knots when when really, I mean, you
• 19:41
  Speaker 2: can decide on those things if you want to, but
• 19:43
  Speaker 2: you might miss out as well. I mean, these guys
• 19:45
  Speaker 2: aren't aren't overall geniuses for absolutely everything. But if you
• 19:50
  Speaker 2: choose to ignore, you know, like their public stuff and
• 19:53
  Speaker 2: just worry about the fundamentals of their company or whatever
• 19:54
  Speaker 2: it is, it, I mean, all you're looking to is
• 19:56
  Speaker 2: to use whatever they're doing to help yourself into retirement.
• 20:00
  Speaker 3: That's right, right, that's right, and and and you will
• 20:02
  Speaker 3: participate in it. This is just another advancement, you know,
• 20:06
  Speaker 3: just like any other creation has been you know, the Internet,
• 20:11
  Speaker 3: the industrial age, all of those things have been progress.
• 20:15
  Speaker 3: And if you own a slice of those companies, you participate.
• 20:21
  Speaker 3: And you don't have to be one hundred percent right
• 20:24
  Speaker 3: all the time, because the market will play out and
• 20:28
  Speaker 3: the winners will come to the top, and you know,
• 20:30
  Speaker 3: the people decide that. You know, you and I and
• 20:33
  Speaker 3: our decisions decide that largely.
• 20:36
  Speaker 2: Yeah, that's exactly true. And you don't have to be
• 20:38
  Speaker 2: a huge fan of the person running the thing either necessarily.
• 20:41
  Speaker 2: I mean, you can make that decision individually. But these
• 20:45
  Speaker 2: people are just like the public figureheads, and we shouldn't
• 20:48
  Speaker 2: we shouldn't basically worship them. I mean when you look
• 20:50
  Speaker 2: at it, when you look at somebody like Bill Gates.
• 20:52
  Speaker 2: I just saw him the other day and you can
• 20:54
  Speaker 2: tell Bill Gates thinks that he's like always the smartest
• 20:56
  Speaker 2: guy in the room, you know, I mean generally speaking.
• 20:58
  Speaker 2: He was on a show the other day where he
• 21:00
  Speaker 2: played Mangus Carlson, the world grand grand Master in chess,
• 21:05
  Speaker 2: in a chess gaming. You could tell that that Gates thought,
• 21:09
  Speaker 2: He's like, oh, yeah, this guy, you know, I'm Bill Gates,
• 21:11
  Speaker 2: I'm smart. He lost in twelve moves and it was
• 21:13
  Speaker 2: never even close. That's the type of thing and like
• 21:16
  Speaker 2: this halo effect that we extend to these guys because
• 21:18
  Speaker 2: they were good at business in one thing, that makes
• 21:20
  Speaker 2: them genius in all things. That's not true, but it
• 21:22
  Speaker 2: doesn't have to be. As long as the business is fine,
• 21:24
  Speaker 2: it doesn't really matter that Bill Gates gets destroyed by
• 21:27
  Speaker 2: a world grand master champion chess.
• 21:29
  Speaker 3: And the reality is a lot of innovation and a
• 21:33
  Speaker 3: lot of innovators are a little bit different, yep. Because
• 21:39
  Speaker 3: if they weren't, they wouldn't be pushing the envelope and
• 21:42
  Speaker 3: trying things that other.
• 21:43
  Speaker 2: People are might be part of it. Yeah, ego might
• 21:46
  Speaker 2: be part of no doubt about it.
• 21:47
  Speaker 3: And so you know, it's it is a melting pot,
• 21:51
  Speaker 3: and it takes all all types of people to make
• 21:54
  Speaker 3: the thing work. And and and you can be you
• 21:56
  Speaker 3: and just participate with your investments, and you know, kind
• 22:01
  Speaker 3: of trust the process, Trust the process.
• 22:06
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• 22:08
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• 22:11
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• 22:22
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• 22:25
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• 22:28
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• 22:32
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• 22:36
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• 22:42
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• 22:46
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• 22:51
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• 22:55
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• 22:58
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• 22:59
  Speaker 5: Many of you know that my inspiration for becoming an
• 23:01
  Speaker 5: Accent attorney was my brother Tim, who was rendered a
• 23:05
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• 23:07
  Speaker 5: a personal injury lawyer was or what they did, but
• 23:10
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• 23:20
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• 23:27
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• 23:30
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• 23:33
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• 23:48
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• 24:01
  Speaker 1: This update is brought to you by Fourth Avenue Financial.
• 24:04
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• 24:08
  Speaker 7: Good morning, here's your traffic update in Canall County. Debris
• 24:11
  Speaker 7: in the roadway on West Virginia one fourteen Greenbrier Street
• 24:15
  Speaker 7: and Oakridge Drive in Charleston. In Fayette County, pothole patching
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• 24:22
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• 24:29
  Speaker 7: disabled vehicle on I seventy seven South at mile marker
• 24:32
  Speaker 7: one oh two at Westmoreland Road. I'm Chapel in the
• 24:36
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• 24:39
  Speaker 1: This is retire Right Radio with John Burdett from Fourth
• 24:43
  Speaker 1: Avenue Financial, taking your calls at three oh four, three
• 24:47
  Speaker 1: four five fifty eight fifty eight or texts on three
• 24:50
  Speaker 1: oh four nine, three, five fifty oh eight.
• 25:06
  Speaker 8: Ten minutes till the top of the hour. You're listening
• 25:08
  Speaker 8: to us a lot of minutes till the top of
• 25:09
  Speaker 8: the hour. Your listening Tilly the five ad W C
• 25:12
  Speaker 8: H else your voice of Charles and I'm del three
• 25:14
  Speaker 8: for Thank you so much for tuning in. We just
• 25:16
  Speaker 8: had that big weather report that came through from the
• 25:19
  Speaker 8: National Weather Service. Yeah, throughout the state of West.
• 25:22
  Speaker 2: Virginia, certainly in the Kanau Valley and in our listening
• 25:24
  Speaker 2: audience today, expect a lot of rain and if you
• 25:27
  Speaker 2: have water near you, expect potential flooding. This is always
• 25:32
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• 25:34
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• 25:36
  Speaker 2: this is one of those days you're going to have
• 25:38
  Speaker 2: to be aware of what water is around you. So
• 25:42
  Speaker 2: just be aware of that. Keep on tuning into five
• 25:44
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• 25:46
  Speaker 2: up to date information for you at our local news
• 25:48
  Speaker 2: and our shows, so you can do that all day
• 25:50
  Speaker 2: long and make sure that you stay informed. John Bredad
• 25:53
  Speaker 2: is here in studio with us. We still have about
• 25:55
  Speaker 2: ten minutes left in the program. We can take your
• 25:58
  Speaker 2: text if you have any causes you want to get
• 25:59
  Speaker 2: in three zero four nine three five five zeros or
• 26:01
  Speaker 2: eight still time to call if you want to three
• 26:03
  Speaker 2: zero four three four five fifty eight fifty you might
• 26:05
  Speaker 2: be able to sneak in a call. I did have
• 26:07
  Speaker 2: a text last week, John, that was left over from
• 26:09
  Speaker 2: the show that I wanted to see if I could
• 26:11
  Speaker 2: get back to Let's see, uh, let's see. Okay, I'm
• 26:18
  Speaker 2: fifty eight. This is from the three zero four nine
• 26:19
  Speaker 2: one five three zero four nine one five fifty eight.
• 26:23
  Speaker 2: My company just offered an early buyout package. How do
• 26:25
  Speaker 2: I even start thinking about whether to take it or not?
• 26:28
  Speaker 2: You don't have a lot of information there, so I
• 26:30
  Speaker 2: guess we can just talk in generalities.
• 26:31
  Speaker 3: Yeah, I mean generally, first you need to decide do
• 26:36
  Speaker 3: you even want to retire. That's always a good one,
• 26:38
  Speaker 3: right because some people are aren't aren't ready for that
• 26:43
  Speaker 3: and don't have really plans for their for their new
• 26:47
  Speaker 3: free time, And that's an important thing to decide on
• 26:50
  Speaker 3: as you're making that decision, so that you still feel
• 26:54
  Speaker 3: like you have a purpose and are fulfilled on the
• 26:57
  Speaker 3: on the other side of that, and then just take
• 27:00
  Speaker 3: a good inventory of your finances and your budget and
• 27:03
  Speaker 3: see where you are. You know, have you been saving
• 27:06
  Speaker 3: diligently for retirement? You know, sometimes the buyouts do offer
• 27:13
  Speaker 3: you a a a pretty good payout to to go
• 27:17
  Speaker 3: ahead and leave. Sometimes they have healthcare included in them
• 27:21
  Speaker 3: that will help bridge you to medicare, which is a
• 27:25
  Speaker 3: big important thing if you are going to retire early,
• 27:28
  Speaker 3: how are you going to deal with healthcare? So you
• 27:30
  Speaker 3: just have to evaluate the package and and evaluate your
• 27:34
  Speaker 3: personal finances. You know, you have to think through not
• 27:38
  Speaker 3: just the budget today, but will it look different if
• 27:41
  Speaker 3: you do retire. You know, what are the things that
• 27:43
  Speaker 3: will will change in that in that budget line. And
• 27:47
  Speaker 3: then anybody that is approaching retirement while they're working, I
• 27:52
  Speaker 3: would say try to practice the the retirement budget for
• 27:55
  Speaker 3: a few months to see what it feels like and
• 27:59
  Speaker 3: and you know that will give you a lot of
• 28:01
  Speaker 3: confidence if you do decide to retire, that you can
• 28:03
  Speaker 3: make that happen and be comfortable.
• 28:06
  Speaker 2: And and that's really I think the first thing that
• 28:10
  Speaker 2: you mentioned there. If you're ready to or not, that's
• 28:12
  Speaker 2: really the really important part of that discussion because you
• 28:15
  Speaker 2: have to understand what all that means. Not only are
• 28:17
  Speaker 2: you not going to your current job anymore, that means
• 28:19
  Speaker 2: that that eight hours of your day is completely absent.
• 28:21
  Speaker 2: I've heard so many people that have had a hard
• 28:24
  Speaker 2: time filling up that eight hours, you know, once they
• 28:26
  Speaker 2: retire and figuring out what to do there. And depending
• 28:30
  Speaker 2: on what your limits are, I guess you could get
• 28:31
  Speaker 2: other small, small jobs or whatever it might be. But
• 28:34
  Speaker 2: that's a that's the first serious conversation you have to have.
• 28:36
  Speaker 3: Yeah, no doubt about it. And and it is not
• 28:38
  Speaker 3: about the math at all, math or money, and it's
• 28:42
  Speaker 3: it's about the individual.
• 28:43
  Speaker 2: And and you know a lot of.
• 28:45
  Speaker 3: People in retirement there they're a circle of acquaintances are
• 28:52
  Speaker 3: through work, Uh, you know that routine and seeing those
• 28:56
  Speaker 3: people and all of a sudden, now you're not Or
• 28:59
  Speaker 3: if you retire early and and you think, hey, I
• 29:02
  Speaker 3: want to play golf with my buddies, well your buddies
• 29:04
  Speaker 3: might still be working, and now you know, it's like, well,
• 29:12
  Speaker 3: you know who am I playing golf with? You know,
• 29:15
  Speaker 3: if I retire early. So those are just things you
• 29:18
  Speaker 3: have to think through and make sure that you're psychologically
• 29:22
  Speaker 3: prepared for it. But you know, sometimes those packages do
• 29:28
  Speaker 3: offer an opportunity where you can, you know, get paid
• 29:34
  Speaker 3: to jump start your retirement, particularly if healthcare is part
• 29:38
  Speaker 3: of the package. If healthcare isn't part of the package,
• 29:42
  Speaker 3: that creates a pretty good challenge, you know, because if
• 29:48
  Speaker 3: you're fifty eight, you know, you have seven years before
• 29:51
  Speaker 3: before medicare. That's a long time to carry that load
• 29:54
  Speaker 3: if healthcare is not included in that package.
• 29:58
  Speaker 2: Is John bat for fourth having a financial A couple
• 30:00
  Speaker 2: of minutes left, I have another tax This was saved. Honestly,
• 30:02
  Speaker 2: this might be for two or three shows ago, but
• 30:05
  Speaker 2: I meant to bring it up to you and I
• 30:06
  Speaker 2: thought that it was that was pretty decent. Let's see
• 30:09
  Speaker 2: from the three zero four five four one. I retired
• 30:11
  Speaker 2: two years ago, living mostly off SO Security and a
• 30:13
  Speaker 2: small pension with West Virginia dropping it's tax on Social
• 30:16
  Speaker 2: Security benefits. Is there anything I actually need to do
• 30:19
  Speaker 2: or is that automatic? Now? I don't even know what
• 30:21
  Speaker 2: that means.
• 30:22
  Speaker 3: No, yeah, I mean just do your taxes as normal
• 30:26
  Speaker 3: and any new rates that apply will will apply.
• 30:30
  Speaker 2: So that's something I sort of remember this. So so
• 30:35
  Speaker 2: you don't get any taxes off of yours sociated that's
• 30:38
  Speaker 2: not federal, right, So that's a that's a safe thing.
• 30:40
  Speaker 2: That's a safe thing. Okay, okay, okay. So, so I
• 30:43
  Speaker 2: guess the answer to your question if you just wondered,
• 30:45
  Speaker 2: if you automatically qualify for that, Yes, you don't have
• 30:47
  Speaker 2: to do anything special for it. There's no special paperwork
• 30:49
  Speaker 2: or anything like that. It's not like getting your car
• 30:52
  Speaker 2: tax rebate where you have to jump through thirty seven
• 30:54
  Speaker 2: hoops in order to get the tax back that you
• 30:56
  Speaker 2: paid for. Yeah, right, what a rebate? Threes are a
• 31:00
  Speaker 2: four three four five fifty eight fifty eight. Threes are
• 31:02
  Speaker 2: a four three four five fifty eight fifty If you
• 31:03
  Speaker 2: have any questions before we get out of here today,
• 31:05
  Speaker 2: you're more than welcome to do that. And I had
• 31:07
  Speaker 2: one more text that was in there, but before we
• 31:09
  Speaker 2: get to that, I did want to bring up as
• 31:12
  Speaker 2: far as man I lost my train of thought. I
• 31:17
  Speaker 2: was going to talk about. Oh, I had somebody that
• 31:19
  Speaker 2: was asking about a younger employee, actually that was asking
• 31:23
  Speaker 2: about his IRA. So I have a younger employee who
• 31:26
  Speaker 2: set up an ur A through with his dad's help
• 31:29
  Speaker 2: and everything through in his twenties. So he now has
• 31:32
  Speaker 2: an ora that he that he puts money into directly
• 31:35
  Speaker 2: out of his paycheck every month, and he has our
• 31:37
  Speaker 2: corporate four oh one K policy and four oh one
• 31:40
  Speaker 2: K and he was asking me if that was okay,
• 31:43
  Speaker 2: if he should combine him, and I was like, I
• 31:45
  Speaker 2: think you're fine the way you are. I mean, I'm
• 31:46
  Speaker 2: no expert with these things. You could have a financial
• 31:48
  Speaker 2: advisor like John if you wanted to, to help you
• 31:50
  Speaker 2: manage these things. But I don't think there's any particular
• 31:53
  Speaker 2: thing wrong with it. I mean, is there anything wrong
• 31:55
  Speaker 2: with having two separate accounts. No, you certainly can do both,
• 31:58
  Speaker 2: so it seems smart to me. Actually, I mean that
• 32:00
  Speaker 2: I don't know, and that RA just travels every wee.
• 32:02
  Speaker 2: You don't have to worry about anything with that. That's
• 32:04
  Speaker 2: just right. It's not attached to.
• 32:05
  Speaker 3: Anything, nothing that changes. Also, depending on how it's invested,
• 32:10
  Speaker 3: you might have some little more diversity there, because when
• 32:13
  Speaker 3: you're in your company plan, you have a menu of
• 32:17
  Speaker 3: funds to choose from that are kind of pre selected
• 32:19
  Speaker 3: for you, and IRA outside of your employer's typically free
• 32:26
  Speaker 3: for you to invest how you wish, So there's a
• 32:28
  Speaker 3: little more flexibility there too.
• 32:31
  Speaker 2: Let's see, this is a new text three es er
• 32:34
  Speaker 2: four six one zero of Okay, John, we'll try to
• 32:36
  Speaker 2: get through this. And we got about two minutes left.
• 32:38
  Speaker 2: My mom passed away last year and I inherited her IRA.
• 32:41
  Speaker 2: I have no idea. I had no idea there were
• 32:45
  Speaker 2: rules about how fast I can take it out. Can
• 32:47
  Speaker 2: you run through the basics on that for me. Yes.
• 32:51
  Speaker 3: Basically, you'll have a ten year window that you have
• 32:54
  Speaker 3: to draw that out. That doesn't mean you have to
• 32:57
  Speaker 3: take one tenth of it out every year, but within
• 32:59
  Speaker 3: ten years it has to be taken out of the
• 33:02
  Speaker 3: IRA so that it can be taxed. That is not
• 33:06
  Speaker 3: the case on spousal beneficiaries. So if if one spouse
• 33:12
  Speaker 3: you know, passes away and the surviving spouse gets the IRA,
• 33:16
  Speaker 3: then it basically becomes their IRA and they don't have
• 33:19
  Speaker 3: those distribution rules. But when it goes to the next generation,
• 33:22
  Speaker 3: that's where that ten year rule comes into play.
• 33:25
  Speaker 2: Oh, that makes a lot of sense. So if you
• 33:28
  Speaker 2: have any questions about those things, of course, you can
• 33:29
  Speaker 2: call John and it can help you with any planning
• 33:32
  Speaker 2: into your future or financial planning that you have or
• 33:34
  Speaker 2: to answer questions like this so you can then make
• 33:36
  Speaker 2: the right decisions that you need to get your financial
• 33:39
  Speaker 2: future in order you can get ahold of Fourth Avenue
• 33:42
  Speaker 2: Financial one line. It's fourth Avenue Financial dot com spelled
• 33:44
  Speaker 2: the whole thing Fourth Avenue Financial dot com. You can
• 33:46
  Speaker 2: also find them on Facebook by doing that search fourth
• 33:49
  Speaker 2: Avenue Financial and you can like the page over there everything.
• 33:53
  Speaker 2: You can also give them a call. The phone number
• 33:55
  Speaker 2: for Fourth Avenue financials three zero, four seven, four six
• 33:57
  Speaker 2: seven nine seven seven three zero four seven four six
• 34:00
  Speaker 2: seven one seven seven last time threes are a four
• 34:02
  Speaker 2: seven four six seven nine seven seven is where you
• 34:05
  Speaker 2: can call Fourth Avenue Financial located one seventy Court Street,
• 34:08
  Speaker 2: Downtown Charleston. Oh yeah, I know, man, Is that something anymore? That? Uh?
• 34:15
  Speaker 2: The fake sounding this is. I saw a thread the
• 34:19
  Speaker 2: other day where somebody was yeah, yeah, exactly the other
• 34:22
  Speaker 2: thing I saw where somebody was mad that they they
• 34:25
  Speaker 2: have an AI agent that they have in their company.
• 34:28
  Speaker 2: That's a pleasant sounding female AI agent. And I guess
• 34:31
  Speaker 2: that guys calling head on it. Oh gosh, are you
• 34:36
  Speaker 2: that flirty to the AI agent?
• 34:38
  Speaker 3: Oh well that's a whole new thing.
• 34:42
  Speaker 2: Yeah, we can talk about later or maybe not so
• 34:45
  Speaker 2: dangerous airy stuff? John fordet. Fourth Avenue Financial every Monday,
• 34:49
  Speaker 2: typically every Monday right here on five ad w c
• 34:51
  Speaker 2: HS part of Retire Right Radio on Ask the Experts.
• 34:54
  Speaker 2: Of course Monday this week we were off and so
• 34:56
  Speaker 2: we had an off day that day and John came
• 34:58
  Speaker 2: back today to answer your question. So thanks a lot
• 35:01
  Speaker 2: for John for coming in once again. You can find
• 35:02
  Speaker 2: information online. It's Fourth Avenue Financial dot com. Fourth Avenue
• 35:05
  Speaker 2: Financial dot com where you spell out the whole thing.
• 35:07
  Speaker 2: Do that same search on Facebook and like the page
• 35:09
  Speaker 2: over there. Be kept up to date on all the
• 35:11
  Speaker 2: things that Fourth Avenue Financial is doing with the continuing
• 35:13
  Speaker 2: education seminars, whatever might be happening, you can find over there.
• 35:17
  Speaker 2: And then this show is on every Monday at eight twenty.
• 35:19
  Speaker 2: You can find all the podcasts over at WCHS network
• 35:22
  Speaker 2: dot com. Coming up next, Dave Alan is back yet
• 35:24
  Speaker 2: again still and he'll be back on five eight Live
• 35:26
  Speaker 2: right around the corner and on midday this afternoon with
• 35:29
  Speaker 2: Amanda Baron. I'll be back this afternoon at three oh
• 35:31
  Speaker 2: six with Dave Weekly on Hotline. John, thank you so
• 35:34
  Speaker 2: much for your time again today. Appreciate it. See you
• 35:36
  Speaker 2: next week, all right, take care. Thank you. That's John
• 35:37
  Speaker 2: for at Fourth Avenue Financial. I'm Dale Cooper. Have a
• 35:39
  Speaker 2: great day. Everyone and look out for that rain. On five, adwcchs,
• 35:43
  Speaker 2: the voice of Charleston