Latest / WCHS Network Podcasts / 02/23/2026 Retire Right Radio with John Burdette

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02/23/2026 Retire Right Radio with John Burdette · 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, its employees,
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Speaker 1: or WVRC Media. This is retire Right Radio, a weekly
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Speaker 1: show from John Verdett at Fourth Avenue Financial that aims
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Speaker 1: to answer your questions about financial planning, investing, and how
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Speaker 1: to retire right. Fourth Avenue Financial is located in downtown
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Speaker 1: Charleston at one seventy Court Street. More information online at
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Speaker 1: fourth Avenue Financial dot com. Join the conversation by calling
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Speaker 1: three oh four three four five fifty eight fifty eight
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Speaker 1: or text three oh four nine three five fifty oh eight.
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Speaker 1: On retire Right Radio, Let's go live to the studio
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Speaker 1: with host Dale Cooper and John Burdett from Fourth Avenue Financial.
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Speaker 2: Child and Happy Monday morning to everyone you're listening to
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Speaker 2: five ADWCHS the Voice of Charleston. I am del Cooper.
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Speaker 2: Congratulations you made it through the weekend. Hopefully you've made
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Speaker 2: it through the snow that's come through the Kunoff Valley.
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Speaker 2: It's got out of a couple in out there and
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Speaker 2: places in the Kanaal Valley. Maybe a little deeper if
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Speaker 2: you get up into the mountains a little bit one
1:04
Speaker 2: to three I think is generally what I'm hearing. It
1:06
Speaker 2: was probably just a little over an inch. At my
1:08
Speaker 2: house in Kanawa City, roads are slightly covered on the
1:11
Speaker 2: back roads. Highways were pretty okay for the most part.
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Speaker 2: If you're careful driving into work this morning, there shouldn't
1:17
Speaker 2: be too much of a problem. As always be careful,
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Speaker 2: been a little extra careful following distance and stuff like
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Speaker 2: that coming in this morning. I don't know why I
1:23
Speaker 2: feel like I have to give traffic tips, but sometimes
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Speaker 2: you know it's useful, especially if you're just leaving the
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Speaker 2: house and you're not really sure what the highways look like.
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Speaker 2: Not too bad right now. Salt is working. I see
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Speaker 2: where it looks like that some of the roads that
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Speaker 2: have been that were pre salted or had some treatments
1:38
Speaker 2: or whatever. We're using beats or whatever on it. It looks
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Speaker 2: like that's that's working. The salt here at work, it
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Speaker 2: has worked, so that's good. That was a problem that
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Speaker 2: we had last time is that ice got down to
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Speaker 2: was so thick we couldn't get rid of it, and
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Speaker 2: the parking lot was treacherous. Not the case this morning,
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Speaker 2: so that's good news. We're Tired Right Radio. John Burdad
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Speaker 2: is a studio with this this Morning. You're welcome to
1:57
Speaker 2: give us a coffee. Have questions about your future for
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Speaker 2: Tiring Right if you if you would like to demystify that,
2:03
Speaker 2: you give John to call this morning. Three zero fourth
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Speaker 2: three four five fifteen fifty eight. Three four five fifteen
2:07
Speaker 2: fifty eight is a number you could call it a
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Speaker 2: get online with John berdet for Fourth Avenue Financial Online,
2:11
Speaker 2: Fourth Avenue Financial.
2:12
Speaker 3: Dot Com, Fourth Avenue Financial dot Com. How you doing, man?
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Speaker 3: Everything all right?
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Speaker 4: Just taging in there. Yeah, dealing with the snow again.
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Speaker 3: I know.
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Speaker 2: I'm a little tired of that. Well, tired of being
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Speaker 2: sick too. Honestly, woke up Saturday morning out of nowhere
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Speaker 2: with a cold. It's like I felt fined last week
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Speaker 2: after three weeks of the flu just cutting through my
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Speaker 2: house and was looking forward to this weekend being a
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Speaker 2: hugely productive weekend. Wake up Saturday morning and I'm sick again.
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Speaker 2: It's not like me, man, I don't get sick often.
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Speaker 4: Yeah, yeah, I felt like I was. I was coming
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Speaker 4: down with something last week and that it kind of
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Speaker 4: went past.
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Speaker 3: So that's good.
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Speaker 4: Well, we had some some of it going through the office,
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Speaker 4: So hopefully everybody's better this week.
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Speaker 2: I sort of felt it coming on Friday, and I
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Speaker 2: was trying to tell myself because we had that nice,
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Speaker 2: warm couple days at the end of the week last week.
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Speaker 2: I was trying to tell myself, Ah, you know, like
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Speaker 2: some allergens got defrosted, and I'm just feeling a little
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Speaker 2: bit of allergies or something. Wasn't that unfortunately, but filling
3:03
Speaker 2: good enough today, So that's that's good. You give us
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Speaker 2: a call this wedding. So taking a look back at
3:08
Speaker 2: you know, we always try to take a look back
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Speaker 2: at the week that was when it comes to the
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Speaker 2: stock market, the finances, to things on those lids and
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Speaker 2: all that. I could, Yes, there were things through the headlines,
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Speaker 2: I mean all kinds of things going on. Tariffs, no tariffs,
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Speaker 2: Does it really matter? How does all this stuff play out?
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Speaker 2: I guess you could call last week fairly typical for
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Speaker 2: the most part. I mean it's been like that for
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Speaker 2: for like over a year now, you know, so whatever, it's.
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Speaker 2: The market relatively chugged on. I mean I had some
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Speaker 2: days of walls, some days of games. We've been playing
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Speaker 2: within a relatively short range.
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Speaker 4: Yeah, yeah, we're not too far off the HAJJ exactly right,
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Speaker 4: and market was up last week. The market reacted fairly
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Speaker 4: positively actually to the tariff news, which you know, who knows,
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Speaker 4: that could be just a short term blip, but you know,
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Speaker 4: generally speak, what is the underlying underpinning of the market
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Speaker 4: is just the earnings and the idea that corporate earnings
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Speaker 4: are good. And if corporate earnings are good, the people
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Speaker 4: who own the companies do well. And if you're a stockholder,
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Speaker 4: that's you.
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Speaker 2: That's wrong with that, right, Yeah, absolutely, there's nothing wrong
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Speaker 2: with that. And we're still seeing some of the rotation
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Speaker 2: that we've been talking about. As far as you know,
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Speaker 2: it's not the AIS stocks are necessarily taking a back seat.
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Speaker 2: It's just as becoming more parody where you're having some
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Speaker 2: of the more traditional stocks that are that are rotating
4:30
Speaker 2: into into things a little bit. So things are looking
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Speaker 2: I mean, it is what it is, right, I mean,
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Speaker 2: it's all indications as far as the market goes. And again,
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Speaker 2: the market is not your pocketbook directly, it's it's what
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Speaker 2: affects those different things in the market generally is looking very.
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Speaker 4: Strong right now, looking strong, and really not a lot
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Speaker 4: of signs out there that would say, hey, we're getting
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Speaker 4: too far out of the line on anything. I mean,
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Speaker 4: you know, as long as those earnings come through, you
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Speaker 4: can justify some of these advances so that we've had
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Speaker 4: in the last couple of years.
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Speaker 2: So things like you know, there's all kinds of money
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Speaker 2: in around with like the jobs data for for last week,
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Speaker 2: UH was an underreported for part of the year, then
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Speaker 2: this month it was really great, and UH the UH
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Speaker 2: inflation in access.
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Speaker 3: These things are sort of are they still kind of
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Speaker 3: baked into things.
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Speaker 2: I mean, the jobs numbers didn't really like when the
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Speaker 2: announcement came that those were shorted and all that.
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Speaker 3: That didn't really move the blip at all. That didn't
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Speaker 3: really change anything.
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Speaker 4: No, I don't think so. I mean, when you look
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Speaker 4: at those numbers, there are lots of things that can
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Speaker 4: affect them. I mean, there are seasonal effects. There are
5:33
Speaker 4: you know, oh, bad weather might have affected something for
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Speaker 4: one period. You really have to look at those things
5:41
Speaker 4: over long periods of time. Now the market doesn't always
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Speaker 4: do that, but to try to get a good sense
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Speaker 4: of the direction, you have to look at the trends
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Speaker 4: a little longer than one report at a time.
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Speaker 2: Generally, yeah, that's a that's a that's the savvy way
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Speaker 2: to look at things. So generally speaking, things are are
5:56
Speaker 2: are still doing what they're supposed to do. If you're
5:58
Speaker 2: if you're following your play, you're sticking two things, then
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Speaker 2: you should be in relatively good shape as far as
6:03
Speaker 2: that goes. I don't think I I just noticed for
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Speaker 2: the first time, and I've I've mentioned this a few
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Speaker 2: times on here before, but my the the four one
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Speaker 2: K that is attached to my health savings account has
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Speaker 2: just ky rocketed this year. I mean it is Seriously,
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Speaker 2: it's like twenty four percent or something year over year
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Speaker 2: compared to my normal four oh one K, which is
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Speaker 2: doing okay but not nearly as well.
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Speaker 3: And I'm like, how did I stumble upoint?
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Speaker 4: Hey, do you want a new job?
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Speaker 2: I've got this rocket ship with my with my with
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Speaker 2: my health savings account. Suddenly I have money to do
6:36
Speaker 2: whatever I want to. Hey, I want to get a
6:38
Speaker 2: row body arm or something. Maybe I could go not
6:40
Speaker 2: quite that, but seriously, it's very surprising. I can't believe
6:43
Speaker 2: that that and that and those little things count. Although
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Speaker 2: that's not my traditional uh investment account. The fact that
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Speaker 2: that's doing very well, and that's what I rely on
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Speaker 2: for my health insurance.
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Speaker 3: Basically.
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Speaker 2: I mean that that just is that's hue because that
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Speaker 2: stuff rolls over every year. So with the type of
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Speaker 2: account that I have, so that means if this year
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Speaker 2: nothing bad happens, you know, last year I had a
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Speaker 2: lot of procedures and stuff done and was able to
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Speaker 2: pay for those and build it back up. So when
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Speaker 2: that happens, if something happens again, then it's there. And
7:12
Speaker 2: that's all part of planning for your budget and having
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Speaker 2: things budgeted out. Healthcare is part of that and you
7:17
Speaker 2: have to make sure you have that solved as well.
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Speaker 4: Oh absolutely. I mean when you look at retirement, what
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Speaker 4: are some things that can happen to you that you
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Speaker 4: don't plan for? Healthcare is one of them.
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Speaker 3: You know.
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Speaker 4: Healthcare is a is a big cost. Prescriptions, you know,
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Speaker 4: the add ons to Medicare, things like that that you do.
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Speaker 4: Those are things you have to think about and plan for,
7:39
Speaker 4: not just health care, but emergencies. You know, those are
7:42
Speaker 4: the types of things you can look on paper and say, hey,
7:44
Speaker 4: it looks like I'm on track, but what happens if
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Speaker 4: you have a major homerook, maybe you need a thirty
7:50
Speaker 4: thousand dollars foundation repair on your house unexpectedly in retirement.
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Speaker 4: Do you have the wherewithal to deal with that without
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Speaker 4: upsetting the regular distributions that you might be taking to
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Speaker 4: fund your retirement. You know, there were things like that
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Speaker 4: that come up that you have to plan for. I mean,
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Speaker 4: those are the unexpected things that should be expected, actually, and.
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Speaker 2: You really don't want to get to a point where
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Speaker 2: you're retired and looking at to the only way to
8:17
Speaker 2: fix your foundation or whatever it might be is to
8:19
Speaker 2: take out a loan. I mean, the last thing you
8:21
Speaker 2: want to do is to have basically money that you
8:24
Speaker 2: have no way to recoup. I mean you're not making
8:25
Speaker 2: any income there. You might be able to afford it,
8:27
Speaker 2: but still that's something you want to try to take
8:30
Speaker 2: care of where you have that in reserve rather than
8:32
Speaker 2: something you have to tap into your credit to get
8:34
Speaker 2: taken care of.
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Speaker 4: Right, And so having those reserves, like your health savings
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Speaker 4: account that you know, that helps you through those things.
8:44
Speaker 4: But also when you look at the economy and think
8:47
Speaker 4: why are things doing so well well? When the market
8:49
Speaker 4: does well, people feel like they can spend a little
8:54
Speaker 4: bit and they you know, they largely have been. Over
8:57
Speaker 4: the last year or so, consumer spending has been fairly good.
9:02
Speaker 4: We had a little softness in the last report, but
9:04
Speaker 4: there again, looking over the little longer period of time,
9:08
Speaker 4: consumers are spending and it's like, well, you know, if
9:12
Speaker 4: your four oh one k's up twenty thousand dollars last month,
9:15
Speaker 4: doesn't seem like that big of a deal with splurge
9:17
Speaker 4: on something that costs five hundred and that psychologically can
9:24
Speaker 4: you know, weigh on people and influenced decisions. That doesn't
9:28
Speaker 4: mean they are always good decisions, because your retirement savings
9:31
Speaker 4: and your cash flow today are two different things, but
9:36
Speaker 4: you do see that it's a like a wealth effect
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Speaker 4: that people feel like, well, I can spend this money
9:43
Speaker 4: because it just keeps adding up over in this pocket.
9:47
Speaker 2: Oh yeah, that seems like a bad idea. I could
9:50
Speaker 2: see how psychologically they could get to you, but that
9:52
Speaker 2: really seems like a bad idea because if you think
9:54
Speaker 2: you're running ahead of the pocket a little bit, you
9:55
Speaker 2: just get used to it, you know, And then what
9:57
Speaker 2: happens when you're not a lot of things Because one
10:01
Speaker 2: of the few things assessably I've done in my life
10:02
Speaker 2: is changed my eating habits.
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Speaker 3: But that. Seriously.
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Speaker 2: One of those things that reminds me of the trap
10:07
Speaker 2: that you can get into is like, hey, everything's going well,
10:09
Speaker 2: I can start eating all this stuff again, and then
10:10
Speaker 2: before you know it, you've you've poled the weight back
10:13
Speaker 2: on under you're having whatever chless erol problems again or
10:15
Speaker 2: whatever it might be. So I can't can't go to
10:17
Speaker 2: the runaway route with that the type of stuff right right.
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Speaker 4: You know, if you have a nice four roo and
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Speaker 4: K that's building up, growing well, don't change the habits
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Speaker 4: that allows you to get that in the first place.
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Speaker 4: But statistically that happens a lot when the markets do well.
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Speaker 2: And if you can't keep feeding the monster, if it's
10:34
Speaker 2: doing well and you get a bonus or you get
10:36
Speaker 2: some money, feed the monster, put it back in there,
10:37
Speaker 2: because that means that you could probably have that money
10:40
Speaker 2: do a little bit work for you. If you have
10:41
Speaker 2: any questions for John this morning, you don't have to
10:43
Speaker 2: let us control all the conversation. You give us a
10:45
Speaker 2: call three zero four three four five fifty eight fifty
10:47
Speaker 2: eight three four five fifty eight fifty eight. I got
10:49
Speaker 2: the text machine up as well. If you want to
10:50
Speaker 2: send us a text three zero a four non three
10:52
Speaker 2: five five zeros or eight three zero four no three
10:54
Speaker 2: five five zeros er eight. And one of the things
10:57
Speaker 2: that when it comes to anything like this, whether it
11:00
Speaker 2: be you're trying to work down debt or you're working
11:03
Speaker 2: your plan, whatever, it might be, one of the things
11:05
Speaker 2: that I think that people might have a hard time with.
11:09
Speaker 2: And one of the great services that having a financial
11:11
Speaker 2: advisor somebody that helped steer the rigs, so to speak,
11:15
Speaker 2: is it's really easy to lie to yourself sometimes, you know,
11:18
Speaker 2: it's easy to kind of trick yourself into well, this
11:21
Speaker 2: is going well, this is going well, so we can
11:23
Speaker 2: do this, or well, this isn't the perfect scenario when's
11:25
Speaker 2: everything going to be perfect though, so I might as
11:27
Speaker 2: well go ahead and do that.
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Speaker 3: You know, like, you can.
11:29
Speaker 2: Rationalize a lot of things to yourself, and sometimes there
11:32
Speaker 2: may not be any you know, if you have to
11:34
Speaker 2: get your basement repaired, you have to get your basement repair.
11:36
Speaker 2: I mean, sometimes there's nothing you can do about things
11:37
Speaker 2: like that. But sometimes when you're making elective choices, we
11:41
Speaker 2: can rationalize those a lot. And having somebody that's sort
11:44
Speaker 2: of like the double and the demon sitting on your shoulders,
11:46
Speaker 2: like the old cartoons or whatever it might be. You know,
11:48
Speaker 2: you have like maybe your family member sitting here is like, hey,
11:51
Speaker 2: we could go take them more of each out and
11:52
Speaker 2: go to Disney or whatever it might be. And then
11:54
Speaker 2: you have somebody else it's like, that's a bad idea.
11:56
Speaker 2: That's a bad idea. Son to settle down. It's good
11:59
Speaker 2: just to have somebody that can help you keep on
12:01
Speaker 2: playing a little bit.
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Speaker 4: Yes, it helps you look through the the biases that
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Speaker 4: you have and get a get a clear, you know,
12:11
Speaker 4: extra set of eyes on the situation. And it's not
12:14
Speaker 4: that a financial advisor is there to just say no
12:16
Speaker 4: all the time. It's it's it's to help you make
12:22
Speaker 4: prudent decisions, make decisions that are in your best interest
12:25
Speaker 4: and by taking a lot of that emotional out of it.
12:29
Speaker 4: You know, if you want to buy a place at
12:31
Speaker 4: the beach, that's a dream a lot of people have,
12:34
Speaker 4: Well that's fine, but you know, are you prepared to
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Speaker 4: do it? Do you have the foundation built? Is it
12:40
Speaker 4: a smart move at this time? You know, it can
12:43
Speaker 4: be a great goal to work towards. Maybe maybe you're
12:46
Speaker 4: ready to do it, and and maybe you need somebody
12:51
Speaker 4: to reassure you that you know, it works both ways.
12:54
Speaker 4: Sometimes sometimes folks are save and save and save and invest, invest, invest,
12:59
Speaker 4: and and then never do anything with it. Yeah right,
13:03
Speaker 4: They never really execute the plan that they set out.
13:05
Speaker 4: And you know that's a shame too. It's not always
13:10
Speaker 4: on the you know, I'm not always doctor no in
13:13
Speaker 4: those situations. Sometimes it's like, yes, you've done the things
13:16
Speaker 4: that you need to do, You've put the things in
13:19
Speaker 4: place and put the plan in place, and now it's
13:21
Speaker 4: time to you know, spring those plans, hatch those plans.
13:26
Speaker 2: I don't know all the nuances of their relationship, and
13:28
Speaker 2: I know my my mother's worked with the same advisors
13:31
Speaker 2: for decades now.
13:33
Speaker 3: She's been her account.
13:34
Speaker 2: I think it's been handed off to different people through
13:36
Speaker 2: retirements and everything else over time. But exactly what you
13:39
Speaker 2: said is how she's worked in retirement. Nobody ever tells
13:41
Speaker 2: her no on anything that she wants to do. From
13:43
Speaker 2: what I know that, she's like, hey, I have this idea,
13:45
Speaker 2: and they'll tell her, hey, this is the best way
13:47
Speaker 2: for you to get there with what your current resources
13:49
Speaker 2: and stuff are, and then it works fine, you know,
13:51
Speaker 2: I mean, the right way to do things, so you're
13:53
Speaker 2: protected yourself in taxes or whatever it might be, and
13:56
Speaker 2: you're doing the proper distributions and all that on all
13:58
Speaker 2: those things, you can put these things together. And even
14:00
Speaker 2: if you have the resources there, it's possible to do
14:02
Speaker 2: it the wrong way if you don't have somebody to
14:04
Speaker 2: walk you through it.
14:05
Speaker 3: So it's good to have.
14:06
Speaker 4: That, especially on the tax front, I mean making decisions. Yes,
14:11
Speaker 4: you can do X, Y and Z, but here's the
14:13
Speaker 4: best way to do it. Because taxes are a huge
14:16
Speaker 4: expense for a lot of folks. I mean, it can
14:20
Speaker 4: make or break an investment. Even it's a big deal,
14:24
Speaker 4: particularly if you're in one of the get up in
14:27
Speaker 4: the higher tax brackets. I mean you're talking forty plus percent.
14:32
Speaker 4: That either adds or subtracts to the decision making process.
14:35
Speaker 4: That's a big deal.
14:36
Speaker 2: Yeah, right, Yeah, it's a huge thing. And again it's
14:39
Speaker 2: something you can help navigate through. And if you have
14:41
Speaker 2: any general questions, just as far as that goes, the
14:44
Speaker 2: best way to attack us a certain problem or an
14:48
Speaker 2: issue that you've had you're not sure how to get over.
14:50
Speaker 2: Once again, it give us call this one if you'd like.
14:52
Speaker 2: Three zero four, three four five fifty eight fifty eight
14:54
Speaker 2: three zero four three, four, five, fifty eight, fifty eight.
14:56
Speaker 2: And really, as we kind of walk back through the
15:00
Speaker 2: process of being a financial advisor, allowing helping people in
15:04
Speaker 2: their decision tree is really what you do. You don't
15:06
Speaker 2: necessarily come up with all the answers for them. You
15:08
Speaker 2: just tell them what answers are on the tree that
15:10
Speaker 2: they can then choose to go with, and what the
15:13
Speaker 2: solutions make the best sense for.
15:14
Speaker 4: Them, right, and and and what is doable and what
15:17
Speaker 4: is not? You know, particularly on the spending the money.
15:22
Speaker 4: You know, a lot of a lot of people do
15:23
Speaker 4: the saving part right, you know, because it's beat into
15:27
Speaker 4: you from your employer and the commercials on TV. It's saved,
15:31
Speaker 4: save in best and best for the future. What happens
15:33
Speaker 4: when the future gets there?
15:35
Speaker 3: You know?
15:36
Speaker 4: How do you turn that all now into the plans
15:40
Speaker 4: and the dreams that you have and what's the best
15:43
Speaker 4: way to do that? So, yes, I mean that is
15:47
Speaker 4: exactly what what you know we're trying to do. It's like,
15:50
Speaker 4: how do you accomplish this in the best way? What
15:54
Speaker 4: is reasonable? It almost gives you a level of extra
15:59
Speaker 4: confidence to say, you know, I'm making a good decision
16:04
Speaker 4: and and it's not really saying yes or no or permission,
16:07
Speaker 4: it's it's more of yes, this is a prudent decision.
16:11
Speaker 4: You can do this if you choose to, and that's
16:15
Speaker 4: just that's reassuring.
16:16
Speaker 2: Yeah, yeah, that's that's good information for sure, and something
16:20
Speaker 2: that you can uh in something tangible that you can use,
16:23
Speaker 2: whether it be advice or or something like that. It's
16:26
Speaker 2: something that that makes a lot of sense. And in
16:28
Speaker 2: a case where you have an advisor or something that's
16:30
Speaker 2: customized for your particular position, so you're not looking at
16:32
Speaker 2: something that you googled or an article that you read
16:35
Speaker 2: or something like that. Not that those things can't inform you,
16:37
Speaker 2: but it's not for your particular situation. And so it's
16:40
Speaker 2: nice to have somebody that can take a look at
16:42
Speaker 2: your situation say, yes, you have this cafeteria of options
16:45
Speaker 2: that's available out there. Sure, however, in your situation, we
16:48
Speaker 2: can kind of take off this area in this area,
16:50
Speaker 2: and you really have these things to choose from to
16:52
Speaker 2: do it the right way, and that could save people
16:54
Speaker 2: a lot of heartache down the road, whether it be
16:56
Speaker 2: with taxes or something along those lines. To make sure
16:58
Speaker 2: that they do that right.
16:59
Speaker 4: Yeah, asolutely, and the measure of peace of mind of
17:03
Speaker 4: knowing that, hey, I've checked all the right boxes. I'm
17:06
Speaker 4: making these I'm taking these actions. I'm choosing to do this,
17:10
Speaker 4: but I feel good about the path that I'm on
17:13
Speaker 4: in and that I've done it the right way.
17:16
Speaker 2: That's great information. With John Bredet for Fourth Avenue Financial.
17:18
Speaker 2: As always, you can give us call this morn if
17:20
Speaker 2: you want to control where the conversation has We'll go
17:22
Speaker 2: ahead and take our break now. Then we'll come back
17:23
Speaker 2: and wrap up the show with about twenty minutes left,
17:25
Speaker 2: and you can weigh in on the conversation. Three zero
17:27
Speaker 2: four three four five fifty eight to fifty eight is
17:29
Speaker 2: our number. Three zero four three four five fifty eight
17:31
Speaker 2: to fifty eight if you want to get in and
17:32
Speaker 2: talk to John Burdett for Fourth Avenue Financial. More information
17:35
Speaker 2: online's Fourth Avenue Financial dot com. Fourth Avenue Financial dot com.
17:39
Speaker 2: You can find you can find information over there. Also,
17:42
Speaker 2: you can do that same search on facebooking. You can
17:44
Speaker 2: find out all kinds of information on Facebook two where
17:47
Speaker 2: you do a search for Fourth Avenue Financial, fourth or
17:50
Speaker 2: I'm sorry, a fourth Avenue Financial. You spell out the
17:52
Speaker 2: whole thing, no abbreviations Fourth Avenue Financial on Facebook. Let's
17:56
Speaker 2: go ahead and take a break. When we come back,
17:58
Speaker 2: we still have plenty more that we're going to talk about.
18:00
Speaker 2: Listening to retire Right Radio with John Bredett, I'm Del Cooper.
18:02
Speaker 2: This is by Adwchs, the Voice of Charleston.
18:05
Speaker 5: Retireright Radio is sponsored by Fourth Avenue Financial, which is
18:08
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18:31
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18:51
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18:54
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18:57
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Speaker 6: Many of you know that my inspiration for becoming an
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21:57
Speaker 1: This is retire Right Radio with John Burdett from Fourth
22:01
Speaker 1: Avenue Financial, taking your calls at three oh four three
22:05
Speaker 1: four five fifty eight fifty eight or texts on three
22:08
Speaker 1: oh four nine three five fifty oh eight.
22:26
Speaker 2: You're listening to retire Right Radio five EWCHS the Voice
22:30
Speaker 2: of Charleston. I'm Del Cooper. John Burdett is a studio
22:32
Speaker 2: with us this morning. You're more than welcome to give
22:34
Speaker 2: us a call if you'd like to control the conversation.
22:36
Speaker 2: How you can retire right put some confidence into your
22:39
Speaker 2: retirement by contracting with John Burdett. Fourth Avenue Financially. You
22:43
Speaker 2: can give us a call this morning three zero four, three
22:45
Speaker 2: four five fifteen fifty eight three four five fifty to
22:47
Speaker 2: fifty eight. You get text over any questions you have
22:49
Speaker 2: to three zero four nine three five five zero zero eight.
22:51
Speaker 2: More information on line, it's fourth Avenue Financial dot com.
22:53
Speaker 2: Fourth Avenue Financial dot Com is where you can find
22:56
Speaker 2: it on Facebook. You can also or on line. You
22:58
Speaker 2: can also do the search on Facebook and just do
23:00
Speaker 2: the same search forth Avenue Financial and you can like
23:03
Speaker 2: the page over there. It doesn't get much easier than that.
23:06
Speaker 2: John Berdad is here. For the next fifteen minutes or so,
23:08
Speaker 2: we're taking your phone calls. Three zero four three four
23:10
Speaker 2: five fifty eight fifty eight three zero four three four
23:12
Speaker 2: five fifty eight fifteen.
23:13
Speaker 3: I know that we talk.
23:14
Speaker 2: About, you know, kind of sticking to the planet Noordy,
23:18
Speaker 2: the headlines, things along that, along those lines, and it
23:21
Speaker 2: just dawned on me as we had a relatively robust
23:24
Speaker 2: weekend when it comes to headline news and different things
23:26
Speaker 2: along those lines.
23:28
Speaker 3: It's not that I.
23:28
Speaker 2: Forgot this, but we are now in the February almost
23:32
Speaker 2: March of an election year, so that means that these
23:35
Speaker 2: headlines are going to get crazier and wilder, and and
23:40
Speaker 2: you just it's it's a good time to remember to
23:42
Speaker 2: just work your plan and not worry, worry so much
23:45
Speaker 2: about the noise that's going on in the surface.
23:47
Speaker 4: Yeah, you definitely, you know you can. You can follow politics,
23:53
Speaker 4: you can follow the news, but really what you should
23:57
Speaker 4: do is execute your plan. You know, your plan is
24:01
Speaker 4: your plan. You have to retire no matter who is
24:04
Speaker 4: in office. You have to retire no matter what the
24:08
Speaker 4: headline of the day is. And you control your actions
24:12
Speaker 4: every single day. And if you put a plan together
24:16
Speaker 4: that is designed for you to achieve those goals that
24:22
Speaker 4: you set for yourself, then don't waver from that. Very
24:28
Speaker 4: Very few things are going to be happening in the
24:31
Speaker 4: world of politics or even the news that that's really
24:37
Speaker 4: going to materially change that over a twenty or thirty
24:40
Speaker 4: year period of time.
24:41
Speaker 2: Yeah, it's abundantly clear that the things that drive headlines
24:47
Speaker 2: are not the same things that drive the economy or
24:49
Speaker 2: the market or anything else, not necessarily anyway, on the
24:51
Speaker 2: long term.
24:51
Speaker 4: I mean, we've been doing this show long enough. Look
24:53
Speaker 4: at COVID, Yeah, I mean, COVID was a big deal
24:57
Speaker 4: for a period of time, and now the market's much
25:00
Speaker 4: much higher than it was. You know, it was something
25:03
Speaker 4: that you know, certainly would give you concern, But if
25:10
Speaker 4: you would have just stuck to your plan as best
25:13
Speaker 4: you could during that, it's a great point. Yeah, you know,
25:16
Speaker 4: you'd be better off today. And that's the case with
25:19
Speaker 4: most news stories. I mean, look at a chart. There's
25:22
Speaker 4: a great marketing piece by mutual fund company that I
25:26
Speaker 4: don't know if they still put it out, but they did,
25:28
Speaker 4: you know, ten fifteen years ago. It was a chart
25:32
Speaker 4: that overlaid the Dow from the twenties until now and
25:38
Speaker 4: how that fund has performed, you know, over that period
25:41
Speaker 4: of time. And underneath on the tomline were reasons not
25:46
Speaker 4: to invest all the major events, right, Okay, And you
25:50
Speaker 4: know you can just see it clear as can be.
25:54
Speaker 4: You know it is it is sticking to that long
25:56
Speaker 4: term plan and ignoring that news as much as possible
26:01
Speaker 4: because you largely control the outcome. Your actions control the outcome,
26:06
Speaker 4: not those external things. You know, I don't know what
26:09
Speaker 4: the market's going to do as far as rate of
26:11
Speaker 4: return this year or next year or over the next
26:14
Speaker 4: ten years, but I know this, if I'm controlling my budget,
26:20
Speaker 4: if I'm putting the money aside regularly to try to
26:26
Speaker 4: build for the future, am I not going to be
26:29
Speaker 4: better off than the person that didn't do that. Yeah,
26:33
Speaker 4: Relatively speaking, it's impossible not to be, regardless of what
26:37
Speaker 4: the return of the market is. If you own assets
26:41
Speaker 4: that are productive and serving people and you keep accumulating
26:45
Speaker 4: those over time, it's almost not possible to not be
26:51
Speaker 4: better off in the future if you take control of
26:54
Speaker 4: your actions today.
26:56
Speaker 2: I always enjoy the way that you explain this because
26:59
Speaker 2: it really simplifies things to a matter of basically people
27:03
Speaker 2: serving people to some degree. I mean, yes, sir, it's
27:05
Speaker 2: corporations ultimately that take the reins to that at some point,
27:08
Speaker 2: but it's still a service that's being provided or you know,
27:11
Speaker 2: a suite of services or something, a product, whatever it is,
27:14
Speaker 2: but it's something to being provided by people to people.
27:17
Speaker 2: There's an exchange. Here's funds for the goods. Here's the
27:19
Speaker 2: goods for the funds, you know, I mean those are
27:22
Speaker 2: tangible things and widgets, whatever the widget might be, are
27:27
Speaker 2: always in fashion. You know, whatever the widget of the
27:30
Speaker 2: thing was in the seventies or the eighties of the nineties,
27:32
Speaker 2: when we were just looking at the last fifty years,
27:34
Speaker 2: that thing has been the thing. Maybe isn't the thing
27:36
Speaker 2: for thirty years, but it's the thing for a while,
27:38
Speaker 2: and it leads into the next thing.
27:40
Speaker 4: What if you think about it, every news story that
27:43
Speaker 4: even a bad news story, even if something happens that's
27:47
Speaker 4: not the ideal thing in the world, it does create
27:51
Speaker 4: other opportunities, right for those goods and services to go
27:57
Speaker 4: in to try to mitigate those issues. So you know,
28:01
Speaker 4: you just have to believe in that process and take control,
28:06
Speaker 4: have the agency today to do the things that you
28:09
Speaker 4: need to do to be successful and try to you know,
28:13
Speaker 4: go out and vote, to go out and campaign, go
28:17
Speaker 4: out and do all the things you want to do,
28:19
Speaker 4: but try to separate the actions you're taking in your
28:23
Speaker 4: financial life and make those separate from those things.
28:26
Speaker 2: I think, and I know because of the existence of
28:29
Speaker 2: the of the of the graph that you were just
28:31
Speaker 2: talking about showing all the reasons not to invest. This
28:34
Speaker 2: has been a problem that's going on forever, where we
28:36
Speaker 2: tie in everything and to try to you know, human
28:40
Speaker 2: nature is to try to make things simple, to create
28:42
Speaker 2: a you know, a simple graph to look at, or
28:44
Speaker 2: a simple number to find resolution one. And that never
28:48
Speaker 2: works when it comes to the quote unquote market and
28:50
Speaker 2: the economy and different things along those kinds, because the
28:52
Speaker 2: things aren't necessarily always attached. And it seems like in
28:55
Speaker 2: the last decade or so, we've really gotten into this
28:59
Speaker 2: thing where the market is the economy of the economy
29:01
Speaker 2: is the market, you know, so people will hear the
29:03
Speaker 2: inflation numbers high that means the market's going to crash
29:05
Speaker 2: or or those things aren't necessarily always one on one related.
29:09
Speaker 2: And I think that that it's easy to say this,
29:12
Speaker 2: but I think that we've made a little bit of
29:14
Speaker 2: a societal mistake over the last decades or so and
29:16
Speaker 2: really connecting those things more closely together than they actually are.
29:20
Speaker 2: You know, when when we hear that data about the economy,
29:23
Speaker 2: that does not necessarily mean that those are numbers that
29:26
Speaker 2: because a lot of times, like what you talk in,
29:28
Speaker 2: those numbers are already baked into what the quote unquote
29:30
Speaker 2: market is doing. They're aware of these things, and just
29:32
Speaker 2: because you're hearing it for the first time doesn't mean
29:34
Speaker 2: that all the people that are paid to do these
29:36
Speaker 2: things we're a living didn't.
29:37
Speaker 3: Know about it six months ago, right, yeah, and.
29:42
Speaker 4: You know, and there are periods of time, you know,
29:44
Speaker 4: in those news cycles. I'm sure that many of those
29:46
Speaker 4: news cycles affected the market in the short term. I mean,
29:50
Speaker 4: things can happen. We have affects the market in the
29:52
Speaker 4: short term, but short term and long term are different things.
29:57
Speaker 4: And when you are investing, one of the things that
30:00
Speaker 4: we set down and try to figure out is the
30:03
Speaker 4: time horizon. How long is it going to be before
30:05
Speaker 4: you are drawing on these funds or using these funds?
30:09
Speaker 4: You know, and there are many strategies that we can
30:12
Speaker 4: employ to insulate yourself from that volatility. If you have
30:18
Speaker 4: an income need, if you have no income need, the
30:21
Speaker 4: volatility of the market is meaningless to you. You know,
30:25
Speaker 4: if if your four oh one K went went down
30:29
Speaker 4: fifty thousand dollars next month the following month, would you
30:32
Speaker 4: still be at work?
30:34
Speaker 3: Sure you would? Yeah.
30:36
Speaker 4: If it went up fifty thousand dollars, would you still
30:38
Speaker 4: be at work?
30:39
Speaker 3: Yeah? Yeah?
30:42
Speaker 4: And would you still be saving?
30:43
Speaker 3: Yeah? Should r yeah?
30:45
Speaker 7: Right?
30:45
Speaker 1: Right, So all of those.
30:48
Speaker 4: Things that are going on, certainly, you know, you can
30:50
Speaker 4: see it on the page, but really it doesn't change
30:53
Speaker 4: your daily life if you're not drawing off of it.
30:55
Speaker 2: Right now, that's a great point because the only thing
30:58
Speaker 2: that matters is you're gonna be use those funds, and
31:01
Speaker 2: as long as you get there at the end, it
31:03
Speaker 2: doesn't really matter the noise it takes place between now
31:06
Speaker 2: and then.
31:06
Speaker 4: Right, and then when you get to that point, or
31:08
Speaker 4: get close to that point, that's when you start putting
31:12
Speaker 4: things in place to help balance out some of that
31:15
Speaker 4: short term volatility risk. You know, if you're thirty years
31:18
Speaker 4: old and have a thirty year plus time horizon, amost
31:25
Speaker 4: you almost hope that the market goes down for a
31:27
Speaker 4: period of time because you're accumulating it at that point.
31:32
Speaker 2: That makes sense and that works within funds as well, right, So,
31:36
Speaker 2: I mean, if the market's down, that's an opportunity for
31:38
Speaker 2: funds as well.
31:39
Speaker 4: Right, and you know, I occasionally get those calls that
31:42
Speaker 4: are that are I don't like what's going on. I'm
31:44
Speaker 4: going to sell out because the market's high. When is
31:47
Speaker 4: the market over time? When is the market not high?
31:50
Speaker 4: You know, it spends time hovering around record territory for
31:55
Speaker 4: most of its existence, with the exception of you know,
31:59
Speaker 4: pullbacks every four or five years. That it that it
32:02
Speaker 4: pretty regularly has apply because companies innovate, companies improve their
32:07
Speaker 4: goods and services, and they make more profits doing it.
32:11
Speaker 4: It's pretty simple when you break it down.
32:14
Speaker 2: Great information has always a genre debt for fourth them
32:16
Speaker 2: and a financial If you want to get in here
32:17
Speaker 2: before we leave the airways, threes are a four three
32:19
Speaker 2: four five fifteen fifty eight.
32:20
Speaker 3: Threes are a four three four five fifteen fifteen.
32:22
Speaker 2: And I wanted to wrap up the conversation day maybe
32:23
Speaker 2: talking about life events, things that you need to be
32:26
Speaker 2: aware of, because you could be moving along right along
32:30
Speaker 2: your plans on retirement and stuff, and maybe you come
32:34
Speaker 2: into another marriage late in life, or another marriage and
32:38
Speaker 2: then a child that wasn't necessarily expected a little later
32:41
Speaker 2: than life than maybe what you expected. Things along those lines,
32:43
Speaker 2: it's okay, don't don't you know, don't do those things.
32:46
Speaker 2: But that does mean that you might have to take
32:48
Speaker 2: a look at life changes and take a look at
32:50
Speaker 2: what you want to do with your household, either with
32:52
Speaker 2: maybe your new partner or even separately because now you have,
32:56
Speaker 2: you know, a child that you that you want to
32:58
Speaker 2: obviously create a fund for things like that for the future.
33:01
Speaker 2: So those things are very important to keep track of as.
33:03
Speaker 4: Well, no doubt about it. And you know, those relationship
33:08
Speaker 4: household dynamics are very important when you're doing planning because
33:11
Speaker 4: people want to do it differently. You know, something that
33:14
Speaker 4: I've noticed over the last twenty five years is people
33:18
Speaker 4: keeping their finances separate. Couples keeping their finances separate. You
33:24
Speaker 4: used to rarely see that, and now it's much more common.
33:29
Speaker 4: And having it separate, you know, does introduce different dynamics
33:34
Speaker 4: that you that you have to look out for. You know,
33:38
Speaker 4: are you saving what if one is a diligent saver
33:40
Speaker 4: for retirement and the other one isn't it right? What
33:42
Speaker 4: happens when retirement comes? You know, does the one that
33:46
Speaker 4: did well bail out the one that didn't? I mean,
33:48
Speaker 4: you know, they're just strange dynamics that can happen with that,
33:53
Speaker 4: with that separate finance thing. So you know, those are
33:59
Speaker 4: just things that are choices that individuals make and you
34:02
Speaker 4: have to be aware of the the both good and
34:05
Speaker 4: bad of those decisions and try to work it in
34:08
Speaker 4: to the to the long term plan so you both
34:10
Speaker 4: end up where you want to be.
34:11
Speaker 2: And that's a fantastic place for you to find a
34:14
Speaker 2: financial advisor that you can work with, because you really
34:16
Speaker 2: do need to meld those different especially if you're coming
34:19
Speaker 2: at it later in life and maybe you already have
34:21
Speaker 2: like your own plan that's matured to some degree and
34:24
Speaker 2: you need to find ways to make those work either
34:27
Speaker 2: together or together separately, or however however it is. But
34:31
Speaker 2: that's a great time to find a financial advisor to
34:33
Speaker 2: help you out because there is different considerations tax, things
34:37
Speaker 2: change when you get married. You know, there's just different
34:40
Speaker 2: things to take a look at.
34:41
Speaker 4: State planning. Maybe there are children from previous marriages, and
34:45
Speaker 4: you know, there are all kinds of issues that need
34:47
Speaker 4: to be discussed and planned for when you do that
34:54
Speaker 4: later in life.
34:55
Speaker 3: Mix.
34:56
Speaker 2: If he asked me, they really missed out on the
34:58
Speaker 2: Brady bunch. I mean they introduced Sam the boat. Sure
35:00
Speaker 2: they introduced all these side characters, but they didn't ever
35:02
Speaker 2: introduce who the financial advisor was for the family. And
35:04
Speaker 2: I guarantee you there's no way that that uh uh
35:09
Speaker 2: that that mister Brady, Carrol and mister Mike and Carol Brady.
35:12
Speaker 2: There's no way that they could have stayed together if
35:14
Speaker 2: they didn't have somebody looking out for their financial future
35:17
Speaker 2: with all those kids.
35:17
Speaker 4: I think Mike probably had it covered, might.
35:19
Speaker 3: Be right, he was what was he an architect?
35:21
Speaker 1: Right?
35:21
Speaker 2: I think although they think they know everything, engineers saying
35:26
Speaker 2: they can they can take on anything. But uh, but uh,
35:29
Speaker 2: he may may have had it covered. But they had
35:30
Speaker 2: to have some plan because there's just no way with
35:32
Speaker 2: all these kids from from from different different backgrounds and
35:35
Speaker 2: families and everything else. Uh, there's no way they could
35:37
Speaker 2: have handled things, you know, so uh, you have to
35:40
Speaker 2: later on, you get you get the dog, you have
35:42
Speaker 2: to make sure that you have the dog factored into things.
35:45
Speaker 2: You you bring in a cousin that lives with you
35:47
Speaker 2: for a little while, you have to make sure that,
35:49
Speaker 2: I mean for real, you got to make sure you
35:50
Speaker 2: have all these things covered when you're you're dealing with
35:52
Speaker 2: a large family.
35:53
Speaker 4: How many auto insurance premiums are being paid there.
35:56
Speaker 2: That's a great point, man, that's a great point. There's
35:58
Speaker 2: the question about that. But the truth of the matter
36:01
Speaker 2: is is that when you make life changes. And I
36:03
Speaker 2: was just using it as an example because it's a
36:05
Speaker 2: cultural milestone, those two families that got together and they
36:09
Speaker 2: and we don't see the complicated retirement funds that they
36:13
Speaker 2: had to worry about or anything. But the truth of
36:14
Speaker 2: the matter is, in a real life situation like that,
36:16
Speaker 2: there's tons of stuff you.
36:17
Speaker 4: Have to talk Yeah, debts, I mean, maybe even more
36:20
Speaker 4: important than the retirement.
36:21
Speaker 3: Yeah, that's true.
36:22
Speaker 4: You know what debts and what obligations are are you
36:26
Speaker 4: bringing in? And if you're planning separate there again, that's
36:29
Speaker 4: it's more difficult and ad it's a dynamic that needs
36:32
Speaker 4: to be addressed.
36:33
Speaker 2: Yeah, I mean, is is Carol alone planning for paying
36:35
Speaker 2: for Cindy's orthononyx or is that a family expense you
36:38
Speaker 2: know now that they're together. I mean, those are things
36:40
Speaker 2: you have to worry about, right, you never know when
36:43
Speaker 2: those things happen. But in all seriousness, whatever situation that
36:46
Speaker 2: you find yourself in, whether you're just starting out, whether
36:50
Speaker 2: you're somewhere in the middle and worried about your retirement.
36:52
Speaker 2: That might be you know, a decade or two down
36:54
Speaker 2: the line, or if you're getting close to that retirement area.
36:57
Speaker 2: You've done pretty well for yourself, but now you need
36:59
Speaker 2: to in the garage, you need to land the plane,
37:01
Speaker 2: whatever other analogy you want to throw out there. You
37:04
Speaker 2: can have Fourth Avenue Financial help you out, and that
37:07
Speaker 2: includes John Bredebt, So John Bredebt at Fourth Avenue Financial.
37:10
Speaker 2: You can find out more information online at Fourth Avenue
37:12
Speaker 2: Financial dot com Fourth Avenue Financial dot com where you
37:14
Speaker 2: spell out the whole thing their fun number three zero
37:16
Speaker 2: four seven four six seven on seven seven three zero
37:18
Speaker 2: four seven four six seven don seven seven three zero
37:20
Speaker 2: four seven four six seven non seven seven anything else, John,
37:24
Speaker 2: before we get out of here today, I.
37:25
Speaker 4: Don't guess so, but I was just thinking you were
37:28
Speaker 4: going through all the things that are out out there
37:31
Speaker 4: and using a TV show, and I was like, it's
37:34
Speaker 4: not all leave it to Beaver out there.
37:35
Speaker 3: That's right, That's that's right.
37:37
Speaker 4: You know, we can we can deal with anything from
37:39
Speaker 4: leaving to Beaver to the Brady Bunch and everything in between.
37:43
Speaker 2: Or the Bundies or anybody else right right, any any
37:46
Speaker 2: situation that you have, you can you can tap Job
37:48
Speaker 2: Bredet at Fourth Avenue and Financial to help you out
37:50
Speaker 2: in all seriousness, So phone number three's are a four
37:52
Speaker 2: seven four six seven on seven seven every Monday right
37:54
Speaker 2: here at eight twenty when five ed W CHS retire
37:57
Speaker 2: right rady with John Bredebt from Fourth Avenue Financial.
38:00
Speaker 3: Thank you so much for tuning in today.
38:02
Speaker 2: Coming up next, it's gonna be Dave Allen on the
38:04
Speaker 2: Dave Allen five eighty Live Talk lot Is. After that,
38:06
Speaker 2: Dave Allen will be back with Amanda Baron this afternoon
38:09
Speaker 2: with the Midday and then I'll be back at three
38:10
Speaker 2: oh six with Dave Weekly one Measure News Hotline. John,
38:13
Speaker 2: We'll see you next time, all right, take care, have
38:15
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