Latest / WCHS Network Podcasts / 07/15/2024 Retire Right Radio with John Burdette

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07/15/2024 Retire Right Radio with John Burdette · WCHS Network Podcasts

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Retire Right Radio, let's go live to the studio with host Dale Cooper and
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John Verdett, Fourth Avenue Financial, Fancies and Pleasant. Good morning to you.
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You're listening to retire Right Radio. It is Monday morning. You made
1:12
it through the weekend. Mooyit. It was a pretty hot one out there
1:15
this weekend. Lots of stuff going on of course nationally and and here locally.
1:19
But John Bredet from Fourth Avenue Financials and Studio with this this morning and
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taking your phone calls and questions about how you can retire right and now more
1:26
than anytime, maybe that you're in the situation where you're like, man,
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I don't know what's going on in this world. Do I need to go
1:32
to gold this morning or something along those lines, And the answer is no.
1:34
And John Bredet can help you out with any questions that you might have,
1:38
so you can give us a call this morning. If three zero four
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three four five fifty eight fifty eight, shout out to Ryan for bringing my
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coffee that I've left in the studio. Thanks Ryan, appreciate that three zero
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four three four five fifty eight fifty eight is our number. Three zero four,
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three four five fifty eight fifty eight. You can also text over any
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questions you have the three zero four non three five five zero zero eight three
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zero four non three five five zero zero eight. Just to give you a
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heads up that we will have open phone lines on five eighty Live after this
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as well, So I know a lot of folks are looking to talk about
2:02
other topics too, so we will have some open phones after this show this
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morning. But John is here to help steer you through all of the conundrum
2:10
and the messes that are out there and keep a clear sight. What is
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it Coach Taylor used to say from Friday Night Lights, full heart, clear
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eyes, and a full heart, never lose or something like that always when
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Man, it's been years since I've watched that show. Anyway, I don't
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think I ever watched that show. But you know what, it is so
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good. It's I mean, it's just a great family drama, you know,
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and Coach Taylor is a coach that everybody wishes, whether it was their
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coach, you know, when they played sports or whatever. But the thing
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that I find very sad about it now is I saw somebody online the other
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day saying, hey, you know what, I never watched Friday Light Lights.
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How good is that show? Should I watch it now? And my
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first reaction was, oh, absolutely, it's a great show to watch.
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However, it is so non representative of the high school football experience anymore,
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right, Yeah, I mean, Ken's going to the same school and playing
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there for four years, you know, I mean parents not rushing the field
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and threatening to do harm to coaches or referees or something, and that is
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not represented enough for it to be reality in Friday night lights. So it's
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a nice fantasy. It's a nice fantasy. If that's what you're looking for.
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It's TV. Yeah, that's right. But John Man, obviously the
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reality couldn't be stranger could Maybe we should just talk about TV. I don't
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know, to be honest with you. Obviously, huge news this weekend from
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the attempted assassination attempt to former President Trump in Pennsylvania. All accounts is at
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the president's okay, former president's okay, of course, but the fallout is
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just beginning. So we talk about watching headlines and market reactions and things like
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that all the time. It's not every day that a former president in the
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United States attempts to there's an attempt assassinator, an assassination attempt. Where do
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things look right now? What do we What should the the general consumer,
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the general investor out there who's looking for their retirement. The headlines are out
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there, should they worry about much of anything? Well, I mean last
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week before this the market actually was up quite a bit. The Dow actually
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actually reached the forty thousand level once again and closed above forty thousand, And
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there was certainly a broadening if you look at the we've been talking about that,
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the the cyclical stocks, the stocks that should benefit from rate cuts.
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Because the inflation numbers came in last week cooler for a change, it looks
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like the door is open for maybe multiple rate cuts coming up before too long.
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So that was the kind of the backdrop of leading into you know what
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happened this weekend and the market futures at least today, the market futures are
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are up strongly. And you know, is that because the market believes Trump
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has a better chance of winning. It looks like that's what the market is.
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The call them Trump stocks, you know, the stocks that are perceived
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to do well if he were president, and those stocks seem to be rallying
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around that. And so long term, though we've talked about this time and
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time again, the stock market and politics are two separate things. I mean,
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one can politics certainly can influence the business environment, but it doesn't do
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it like flipping a switch. Long term earnings are what drives the market forward.
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And that's what I think you'll see is if you step back, you
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know, six months, a year, two years, three years, and
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look out, the stock prices are going to follow the earnings and the projected
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earnings for the rest of the year. Technology stocks, which have been on
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fire for quite a while, their earnings are projected to grow, but not
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as fast as the overall SMP five hundred. Okay, so you're looking at
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financials and cyclicals things like that. If you look at the earnings projections,
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those are actually projected to to outperform. And that's a good sign. You
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know, you have a bull market like we're in now, and it's like,
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you know, you have this leadership of this narrow group, and then
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what's going to happen. I mean, typically what happens you get a broadening
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of that and more participation and and we've been saying, hey, we need
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to have that for quite a while. Now. Finally we're starting to see
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some of that. The tech stocks, which they're still far ahead for the
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year, but for the last month or so, it's the uh, it's
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the boring stocks that have kind of led the way. And that doesn't mean
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that the tech stocks are falling. It just means that they're not rising as
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fast as as the broader market. And that's why long term, an investor's
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best strategy, particularly as you're in retirement, is the state diversified. You
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know, except that, oh gosh, these tech stocks are up twenty five
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percent, I'm only up eight because you have a diversified portfolio. That doesn't
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mean you should chase those those necessarily, because that broadening of the market generally
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will happen, and market prices follow earnings, and earnings are cyclical depending on
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where we are in the economic cycle. Everything that you just talked about.
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It's so important to keep context and perspective as you're making decisions and you're deciding
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what you're wanting to do and things like that, because you might have a
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tendency to overreact. Not only it's the headlines, but the performance of different
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portfolios. I was looking at something the today I thought was kind of interesting.
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My HSA account has an investment account attached to it, so I can
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keep stuff in investment and bring funds out when I need to pay for medical
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things and stuff like that, and it's starting to get a little bit decent
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amount in there. I was like, hey, if we need, if
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we have any thing medical this year, we're actually going to be okay for
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a little while. But I was pretty interested. I was looking at that
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in my four to one K the other day, and this year my HSA
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account has outperformed my four oh one K, and I was like, wait
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a minute, now what and now fairly significantly? And I was kind of
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like, what did I do here that was different from my dang four oh
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one k. Of course that the amounts aren't as much, but the performance
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was better. And for about a minute I was kind of beating myself up.
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I was like, well, how, but it doesn't matter. I
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mean, you never know because next year it could be different, or you
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know, who knows, or about the end of the year different. Yes,
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that's correct. I mean look at let's say you're in a near retirement
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and retirement and diversified portfolio, and let's say forty percent of your money is
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fixed income bonds things of that nature. Those have been down all the way
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until finally the last week bonds turned around and now are positive every the year.
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But those were an absolute drag on the portfolio and have been for a
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while. You know, when people were thinking the rate cuts were going to
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happen six months or a year ago. You know, it's like, oh,
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bonds will turn around as soon as that starts to happen, and it
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you know, the pundits were six months or a year wrong on the actual
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timing of that. But guess what happened last week? You know, interest
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rates fell with the with the inflation numbers that came in, and the bond
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market finally turned positive slightly positive for the year. But last week the bond
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market as a whole had four times to the return of the Nasdaq, which
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the tex stocks for that one week. You know, so you have to
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stay diversified because that's you know, could you have predicted that would have happened
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last week? You know, could you have predicted what sector is going to
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be hot? I mean, you can't how long it's going to last.
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You can't take your retirement and hope that you're guessing what sector is going to
9:58
be the be the leader and concentrate your investments. That's just not something you
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can do and sustain a distribution to sustain the retirement income that you need to
10:13
live comfortably. You have to accept that sometimes parts of your portfolio will be
10:18
dragging behind the others, and you're going to get the blended return, and
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you can't get jealous when those those you know, tech stocks roar and you
10:30
know you'll have a piece of them, but you may only have twenty percent
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fifteen percent of your portfolio in those type of things. It's one of the
10:37
struggles of a stock that grows so quickly. It seems like in its first
10:41
year of growth, you know, it's almost like, I won't say free
10:45
money, but when your year over year, when the year before was very
10:48
small, your year over year always looks very good. So to your investors
10:52
and your board, stockholders, anything else that's going to look fantastic no matter
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what you're doing. It seems like as the company, and I think Apple
10:56
probably ran into this problem eventually, at some point you're making so much money
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and then you're going year over year over year, and suddenly when you're looking
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back at the year before, you make tons of money then too, and
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so to actually show profit, to show growth or something like that, you
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have to shoot for the moon. You have to make so much money,
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and right that kind of evens things out. Sometimes you know, Navidia eventually
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is going to get to the point where their year over year profits don't look
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quite as great as what they look right now. And that won't mean that
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it's a worse stock. It just means maybe it's not going to be as
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highly as traded as a stock because it's going to settle into a certain place
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at some point in time, well eventually, I mean, just like Apple.
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I mean, Apple's earnings are strong and have been strong for a long
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long time, but the earnings, the overall earnings haven't grown tremendously for the
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last several years, because how many iPhones can you sell? Right you know,
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everyone has one, and you know it's a replacement deal right now.
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But why have the earnings grown well? Because they make you know, twenty
11:50
five billion dollars profit a quarter, and they have to do something with that
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money, and they return that to the shareholders, oftentimes through stock buybacks.
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So if they reduce the number of shares, the actual earnings per share for
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the remaining shares goes up. It's like the opposite of a split, right
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yeah, So that is how Apple has has dealt with that issue. That
12:13
way they can continue the rising earnings even if earnings are relatively flat. I
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mean they've actually grown, but they're not right. They haven't grown like they
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were when the iPhone first was introduced, but they've maintained that for a long
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time, that growth path, earnings per share for a long time. A
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lot of it is through buybacks. It seems like that that's an an an
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industry that's really kind of you really have to be careful when you when you're
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looking at companies like you know, Tom Warner or Disney, places that plays
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a lot in the entertainment field, because it seems like obviously they're printing money
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to some degree like they always do. But each of these companies seems to
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be having a little bit of a trouble finding a foothold right now. And
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this everything is everywhere market where there's no more linear cable or a very little
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linear cable, and people just picking shoes what they want. You know,
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that means that you're always competing more so than what cable ever was, where
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there was only a couple solutions at any given time. Now that people can
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piece together their streaming services, you know, these places are having kind of
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a hard time finding their place sometimes, and an industry that maybe at one
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time was sort of a no brainer or whatever it might be. You know,
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they're kind of up and down a little bit in places now. Yeah,
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no doubt about it. I mean, things change, and the way
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products and services are delivered changes over time, and people innovate, and you
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know, companies have to keep up with that or they end up losing.
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That's the creative destruction of the of the market. You know, it's we
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vote every day with our dollars who the winners are, and you know,
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look at the S and P five hundred from fifty years ago, very few
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of the names are the same. Yeah, that's true. You know,
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it's just you know, it's hard to stay on top in a competitive environment.
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But that doesn't mean that you can't win as an investor. I mean,
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because all that process further's productivity, further's efficiency. That innovation in that
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competition is what drives things forward and makes things better and ultimately more profitable for
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the owners of those companies. It's just yet, how are you going to
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pick and choose the individual company. It's very difficult to do that and be
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right on the timing. That's why, in particular, as you're close to
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retirement, it's important to state diversified and just participate in the process rather than
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trying to you know, shoot the arrow through the bullseye and and you know,
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pick the exactly the right sector at exactly the right time. It's just
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not a not a very prudent way to manage a retirement portfolio. Yeah,
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it's a lot easier when you're when you're literally trying to jump into a pool
14:48
rather than a glass of water, you know what I mean? Can you
14:50
can hit hit the mark a lot more. One of the things that I
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watched this weekend. I was just trying to kill some time one morning,
14:56
and so sometimes I go back to like old shows. I'm from emiliar whist,
15:00
so you don't have to worry about you know, what's going on here.
15:01
I have no idea this is a new show. You just drop something
15:03
in that you've seen a million times. One of my favorite comedies of all
15:07
time is The Ultra thirty Rock with Alec Baldwin, who was just got off
15:11
the charges of that rust that rush trial. But one of the things about
15:15
that show was such a cultural zeitgeist at the time when it was on that
15:18
you can watch it and there's like historical capsules in there that are kind of
15:22
interesting and I was watching one the other day and it just made me think
15:26
about all of the episodes that kind of led into this. But as it
15:28
pertains to what we talk about, they documented quite well the trails and tribulations
15:33
of NBC, comcast and all that stuff through making fun of it through a
15:39
course of the show. So like Alec Baldwin's character on that show, when
15:41
he first took over to start The thirty Rock Show, he was formerly in
15:45
charge of the General Electric, Microwaves and Entertainment Development Division, So it's like,
15:48
you know, I mean, that was the joke that they have so
15:50
many people that are that are staffing that wear different hats and doing different things.
15:54
Later on in the show, they were sold to quote unquote Cabletown,
15:56
which reflected the sell to comcasts from NBC, and so it was just kind
16:02
of interesting. I started thinking about this, and one of the episodes was
16:03
dealing with that. I was like, you know, you can kind of
16:07
track generally some of the stuff with like the entertainment industry and stuff like that
16:11
through the narratives of like this, you know, the satire this comedy.
16:14
That was one because they dealt with, you know, a lot of that
16:15
stuff. The changing landscape of entertainment and how suddenly, you know, you
16:19
had General Electric, which was this huge company for so long, and then
16:22
they fractured off and like a cable company, bought a network. I mean,
16:26
how strange is that, you know? I mean it was kind of
16:27
interesting to follow along with that, And I bet a lot of commentary that's
16:32
fictional throughout the course of our entertainment history, comments on things that are real
16:36
like that, and it's kind of interesting. Yeah, yeah, And you
16:38
mentioned General Electric. There's a good example. That was the stock that kind
16:42
of fell fell apart, and the management decided to shake things up. What
16:48
did they do. They divested of a lot of their pieces to concentrate and
16:55
actually spun off two different companies. So now that GE is three separate companies
17:00
that are publicly traded and they're focused on you know, aviation and healthcare and
17:04
and it's much more defined. So, yes, General Electric the company isn't
17:08
as big, but as a shareholder, now you have pieces of all three
17:11
of those companies that are that are hopefully their goal is to be more productive
17:18
by by maintaining that focus. And it's incredible when you look at how those
17:22
three companies have broken on it and what like ge was known for where it
17:26
first started. I mean it's so different. I mean so many of these
17:27
places, it gets so different from the division anymore, right, exactly exactly.
17:33
It's it's just it's it's just pretty funny stuff. When it comes to
17:37
a lot of that. What we're going to do that, we'll go ahead
17:38
and take our break. We'll come back. We still have plenty more to
17:40
talk about. You can control the conversation as well. If you have any
17:41
questions at all about your retirement, how you can retire right, some decisions
17:45
that you're trying to make, how to structure anything in particular with with your
17:48
retirement plan, you can give John a call this morning. Three zerre a
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four three four five fifty eight fifty eight. Threes are A four three four
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five fifty eight fifty eight. You can find out more online about Fourth Avenue
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Financial. It's fourth Avenue Financial dot com. You spell off the whole thing
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Fourth Avenue Financial. Also, you can like them on Facebook and give a
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light to the page over there searching out Fourth Avenue Financial. We'll get and
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take a break and be back right after this. You're listening to retire Right
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Radio with John Bredett for Fourth Avenue Financial. I'm del Cooper on five Ado
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You See HS, The Voice of Charleston retire Right Radio was sponsored by Fourth
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or tax advice. All economic and performance information is historical and not indicative
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of future results. Investing may involve risk of loss of principle. Any tax
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advice on this show is not intended to be used by any person for the
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purpose of avoiding US federal or state tax penalties that may be imposed on such
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a person, and each listener should seek advice from their tax advisor or legal
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John Burdett from Fourth Avenue Financial, taking your calls at three oh four three
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four five fifty eight fifty eight or texts on three oh four nine three five
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eight threes are four non three five five zeros or eight great things that you
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can do to uh uh to call in this morning at how you can retire
21:00
right. One of the things that I've ran into a few times in my
21:03
life recently was older family members in my family's getting remarried later on in life,
21:08
and so with a relatively mature financial landscape that they have that they brought
21:14
from their previous life, coming together with somebody else that's in a similar situation,
21:18
how do you how does like an older couple getting married that has had
21:22
separate issues, how do they approach retirement together? If you know, if
21:26
they're getting married and they're planning on, what are some of the things that
21:30
they should keep in mind when it when it when combining households like that.
21:33
Yeah, well, I mean so much of it is up to the individual
21:37
or the couple on how they how they want to structure it. I mean,
21:41
to me, it's always easier if you go at it as a team
21:47
and you're you know, you're on the same page, you know, where
21:55
you know, it's not my money or your money, it's our money,
21:56
right that to me, it's easier to make plans, goals and decide efficiencies.
22:07
You know, somebody may have money that's wroth, somebody may have money
22:11
that's traditional IRA or savings, and you know, when you can pull those
22:15
assets assets and and and elect how to use them, you can maybe be
22:18
more efficient if you're doing it as a whole rather than two individuals standing alone.
22:26
The Yeah, and that usually you know works out that way generally.
22:33
Where it can get complicated is is estate planning, you know, coming up
22:37
with Okay, who gets the you know, we've got children over here,
22:41
children over here, how do you how do you divide that up equitably?
22:47
And and and there Again, it's up to the individual. Those are just
22:49
conversations you have to talk through and find out what's important to people and and
22:55
and build the plant around that. I mean, very much like you would
22:59
and individual or a couple that isn't going through that. It's just there are
23:03
a few extra wrinkles. So it's all much like a newly wogged cuple or
23:08
anything else. Being on the same page and creating a some sort of a
23:12
teamwork mentality, coming up with predetermined agreements on things like that. That's going
23:18
to help solve a lot of those issues. When it comes to two different
23:21
individuals, you know that might have slightly different ideas of what retirement looks like
23:26
or how to get there. You need to find the common ground and then
23:29
and find a way to come up with a great plan based off of that.
23:32
Yeah, I mean, oftentimes you have couples that one wants to retire
23:36
yesterday and one likes to work, you know, so that you've got those
23:40
are things you have to work through that kind of get around, you know,
23:44
it's around the conversation of money but it sometimes it's just goals that the
23:48
individuals have to have to work out together. And you know, I can
23:56
I can tell what's possible, but you have to you have to ultimately tell
24:00
me what's important to you so that we can build the plant around that.
24:03
Is there we've talked about, you know, the need for diversification. Then
24:07
you know, we sort of talk about the what the positive outcomes of somebody
24:11
who's properly diversified and properly invested, what that's kind of going to look like,
24:15
and what that should look like in the in the uh, you know,
24:18
in the long term. And we kind of mentioned from time to time,
24:21
you know, if you're if you have like a really great year or
24:23
quarter or something like that that's way above what the market average is. I
24:26
mean, good for you, but that probably means you're overloaded in in particular
24:30
areas. But generally speaking, other than the major red flags, is there
24:33
anything that somebody could take a look at as a whole and evaluate what their
24:40
what their what their retirement strategy is and see where there could be some potential
24:44
problems? Like is there any evaluative steps that you recommend for somebody to look
24:48
at in different areas and be like, Okay, we need to evaluate here
24:51
here and here to see how we look as far as uh, if we're
24:53
doing the right investments, if we're putting the right money in the right places,
24:56
whatever it might be. Well, I mean, there are all kinds
25:00
of rules of them that you could you could use. I mean, certainly
25:04
as far as savings and my savings saving enough money, some of that depends
25:10
on what stage of life you're in and if you've been doing the right thing
25:14
for a for a number of years. I mean, if you for a
25:18
number of years have have been creating somewhere close to fifteen twenty percent savings and
25:26
investment from your income, you're probably going to be okay. Now if you
25:33
just take that money and put it in a savings account or or put it
25:37
in a fixed account in your in your retirement plan. You know that even
25:41
if you are saving that much money, you might not be okay because you
25:45
haven't participated in any growth over over time. And that really the growth is
25:53
is is what takes your savings and multiplies it. It keeps you keeps up
26:00
with the cost of living and those type of things in retirement. So you
26:06
have to make sure that you're you're allocated properly. You know, there's there
26:11
are risks in being too conservative, yeah, for sure, And those are
26:17
things that sometimes it's easy to overlook that because you're so focused on one risk,
26:22
which is the loss of your principle, that you fully accept the other
26:26
risk, which is historically much more damaging to a retirement than volatility of the
26:37
market, I mean, the erosion of purchasing power through inflation. It must
26:41
be somewhat of a battle. Sometimes I hear things I hate the old overheard
26:45
in a cafe thing, but I do hear things all the time where you
26:48
just in general, you're out with either family or friends, or you're standing
26:51
in line or whatever, and people talk out loud sometimes and so they'll be
26:53
in the middle of a conversation and sometimes you can't hear, but to hear
26:56
what they're talking about, and you hear. And in the financial sector you
27:00
stuff like this all the time. You talk about like sayings and and sort
27:04
of I don't know, shortcut heuristics that people use sometimes with uh you know,
27:08
uh, sometimes rhyme schemes in it, like if it's in may or
27:11
you know, whatever it is like and there's been some historical validity, but
27:15
maybe it's you know, it's not really predictive necessarily, but sometimes people are
27:19
just loaded with really bad information, like it's not even there's not even real
27:22
historical validity, and they're like, oh, you know, we need to
27:26
go back to the gold standard. So you know, I mean, whatever
27:27
the their their take is on something, and then as it matriculates out,
27:32
it ends up being it's like, man, that's nowhere near you know,
27:34
realistic or whatever it might be. Is there some issues with overcoming people's really
27:40
incorrect evaluations of the status of how markets work and stuff like that. Yeah,
27:45
I mean really going back to the basics and just going you know,
27:52
what is wealth and how do you build that? We've talked about it here
27:56
many times. It's it's wealth is not dollar bills. Wealth is the ability
28:00
to serve someone. And that's what you do in your job. You go
28:03
out, you serve. You get a certificate called a dollar bill that says
28:07
you serve someone. You claim other people's services with that, and if you're
28:14
smart, don't you don't let all those certificates go. You save and invest
28:18
them. And what are you doing when you invest? You're putting it in
28:22
a company that's doing what trying to serve people. You know, focusing on
28:26
that can help clarify the proper direction because service doesn't go out of style.
28:36
You know, meeting needs, solving problems, innovating that doesn't go out of
28:41
style. You know, certain sectors of the market might be hot or cold,
28:44
but if you focus on what's valuable to other people, you know,
28:48
that's probably a good formula. And keeping your head up and being aware and
28:53
relying on folks that know what they're talking about, like John berdata Forth Avenue
28:56
Financial and they get the information out there before I get on to my next
28:59
question. For the Avenue Financial located online Fourth Avenue Financial dot com. You
29:02
spell out the whole the whole thing to find that Fourth Avenue Financial. Also,
29:04
you can do that search on Facebook and like the page over there.
29:07
They're located one seventy Court Street, downtown Charleston. That's right across from the
29:11
Town Center Mall. They're on Court Street and their phone number three zerre a
29:12
four seven four six seven none seven seven three zero four seven four six seven
29:17
none seven seven seven four six seven none seven seven It's it's really uh incumbent
29:22
on on folks to uh, to sort of be aware of their own belief
29:30
systems in some way, you know. I mean, if you can identify
29:32
the places that maybe you tend to have strong emotional attachment to, those are
29:37
the places that's probably the best to seed decision making, to help decision making
29:40
with somebody who's a professional in that and that can help you maybe God through
29:44
that just a little bit. Yeah, no doubt. I mean, you
29:47
know, it's easy, especially with all that's put on this weekend and the
29:52
fact that we were talking about it. Anyway, it's an election year.
29:53
Sure, being very careful not to allow your own political beliefs influence what you
30:03
do in the market, in your savings and investment. You know, you
30:07
need to focus on you and your goals and to a degree put blinders on
30:14
when these things are going on. I mean, take a presidential election,
30:18
and if you know you're retired, there are going to be four or five
30:21
or more presidential elections in the course of your retirement. You can't just change
30:27
your strategy if if if your team doesn't win, you know, because you
30:33
still have your goals, you still have your needs, and I think there's
30:37
a lot of temptation to make some of these big wholesale changes, you know,
30:42
based on who wins or or who loses, and it can color your
30:51
view in sometimes irrational ways. I mean, here we've been talking about the
30:57
markets have reached record hots recently. You know, there are still people out
31:03
there who believe that this administration has been the worst ever. You know,
31:11
you might be able to point to some things, but certainly the market's done
31:15
okay, or even like abstraction industries or something. It's like we're actually extracting
31:19
more than ever. You know, that's actually industries and stocks still exist.
31:23
And you know, the government is big, the economy is big. Are
31:33
three hundred and fifty million people every day in the country making decisions is bigger,
31:37
and that we don't you know, a policy is not like flipping a
31:44
switch. You know, we all live our lives every day at a local
31:48
level. You know, if you break it down to yourself or your family,
31:56
I mean that's a real local level. But most decisions are made there.
32:00
What are we going to have for dinner tonight? You know, what
32:01
car is the family going to drive? You know, we're going to go
32:05
on vacation this year. Those are the decisions that make up all this economic
32:10
activity, and that's much more important than what goes on in Washington. And
32:15
you know, we sometimes have to respond to some of the policies and so
32:20
to businesses, but in general, you know, we're in charge of our
32:23
dollars and we decide where those flow. It seems to me sometimes people that
32:30
are lay people when it comes to the market and things like that, that
32:35
they take this people that do high level investing and things like that, that
32:37
they think that they're like fortune tellers or something, you know, that that
32:40
anybody can tap into like their magic and figure out how to predict things,
32:45
and that they can they can come up with that. I ran into a
32:47
thread and this was very interesting because it's something that we've talked about. And
32:51
it was also interesting and that the reasonable voices in this online thread were being
32:54
drowned out completely by the people that are in hysterics. But people that were
32:58
talking about investing in and like AI and technology and different things like that as
33:01
it's coming on, and there were so many people that were making a one
33:05
to one direct correlation with the dot com bust and we talked about it on
33:08
this program before It's it's whether a bus or not. Who knows what's gonna
33:13
happen. But it's not the same things. It's not venture money that's going
33:15
into this. These are people that are actually making money right now that where
33:19
the stocks are being or a lot of the activities going. That's a completely
33:22
different thing than sort of the venture money that was going into the dot com.
33:27
And there were sober people weighing in on this thread. It was like,
33:29
hey, wait a minute, I mean, who knows what's going to
33:30
happen in the long run, But that's not true. This is nothing like
33:34
what dot com was, and they were just being philified and eviscerated. And
33:37
I'm like, well, I know from my show that that John says that
33:40
that's more or less true. What's wrong with these people being so angry at
33:44
them? Yeah, well there's that and and but there are some similarities.
33:47
Yeah, you know, the similarity is with the internet and dot com versus
33:52
AI. You know, the actual winners are the people who utilize that in
33:59
their business to the best. Yeah, it's not just a handful of companies
34:02
that are doing it right now. The winners over the next year, two
34:07
years, ten years will be the companies who harness the power of that new
34:12
technology, use it in their business to be more efficient and serve people better.
34:16
That that is actually why the market is propelled forward, not just a
34:23
couple of companies that have invented something. How does it get used? You
34:29
know, look a look at the Microsoft Office for instance, it's on every
34:32
desktop. Well, Microsoft made a lot of money when they put that out,
34:37
But who made more money? All the companies used it. They used
34:42
it efficiently in their businesses. And who did that benefit? It benefited the
34:46
consumers. You know. That's how it works, and that's why you don't
34:52
have to be clairvoyant and knowing what is going to be the winner. The
34:58
winner is collectively the market as these technologies filter through and make things better.
35:06
Man, that's a great, great observation. As always with the job.
35:08
Bre Debt from Fourth Avenue Financial. Just a couple of minutes left in the
35:10
program this morning, John, if you want to just take a minute here
35:15
and let folks know how to get a hold of you information they might want
35:19
to bring to the table as they as they do talk to you, and
35:21
also, you know, basically just give a summary of services that you offer.
35:24
We have a couple of minutes here, so we might as well get
35:27
flicks that might be tuning into five eighty LOB next. Sure, well,
35:29
I mean the easiest way to get a hold of me is just call me
35:32
three that Oh yeah, yeah, it's three zero four seven four six seven
35:37
nine seven seven. Just give me, give me a call and we'll chat.
35:42
If you'd like. You can go online on our website and you can
35:45
schedule a free introductory call. Calendars up there. You can pick your time
35:52
that's that works for you. And generally, in that call, we just
35:55
get to know one another, talk a little bit about the situation broadly,
36:00
and and and then I can offer some advice on the direction to go from
36:07
there. You know, if I believe that we can be a value,
36:12
then we'll schedule a full appointment. We Before that appointment, I have a
36:20
questionnaire that we send out that we like to get back to kind of give
36:23
me a better idea of where you stand before we meet, so that I
36:28
can ask better questions of you. The first meeting is it's not really you
36:35
know, picking and choosing stocks or bonds or strategies. It's it's really understanding
36:38
your situation. So then I can craft a plan that's unique to you.
36:44
Everyone is different, Everyone has different goals. Everyone has different risk tolerances.
36:49
That first meeting is really about that, making sure that I understand those things
36:53
before I craft a plan for you, because you know, I might mathematically
37:00
tell you the right thing to do, but if you can't sleep at night,
37:04
that's not the right path for you. And so that's that's a big
37:09
part of it. That's that's why that first appointment is not a sales appointment.
37:15
It's it's truly just getting to know the scope and the understanding of the
37:20
situation and your attitudes towards them. That's great information. Encourage you to give
37:23
John a call it with any questions that you have. Set you on the
37:25
right path. You can do that this morning. Three zero four seven four
37:29
six seven done seven seven threes aer A four seven four six seven none seven
37:31
seven John, Thanks a lot for your time. We'll see you here next
37:34
week, all right. Thanks five E dy live open phone calls coming up
37:37
next with Dave out and have a great day everyone on five eight w CHS
37:44
five eighty don't c HSA nowty six point five five on Charleston one oh four
37:47
point five trust LA plus VRC Media station. We're proud to live here too.