Latest / WCHS Network Podcasts / 08/26/2024 Retire Right Radio with John Burdette

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08/26/2024 Retire Right Radio with John Burdette · WCHS Network Podcasts

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  Speaker 1: Unlock your dream property with Meeks Realty Group, where Rich
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  Speaker 1: the realtor makes real estate dreams a reality, whether it's
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  Speaker 1: residential or commercial. We've got Charleston to Huntington covered. Your
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  Speaker 1: key to exceptional real estate experience is start here Meeks Realtygroup.
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  Speaker 1: Contact us at Meeks dot us.
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  Speaker 2: The views and opinions expressed on this program do not
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  Speaker 2: necessarily reflect the views and opinions of five eight, WCCHS,
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  Speaker 2: its employees, or WVRC Media. This is retire Rite Radio,
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  Speaker 2: a weekly show from John Verdett at Fourth Avenue Financial
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  Speaker 2: that aims to answer your questions about financial planning, investing,
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  Speaker 2: and how to retire right. Fourth Avenue Financial is located
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  Speaker 2: in downtown Charleston at one seventy Court Street. More information
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  Speaker 2: online at Fourth Avenue Financial dot com. Join the conversation
• 0:47
  Speaker 2: by calling three oh four three four five fifty eight
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  Speaker 2: fifty eight or text three oh four nine three five
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  Speaker 2: fifty oh eight. On retire Right Radio, let's go live
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  Speaker 2: to the studio with host Dale Cooper and John Verdett
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  Speaker 2: on Fourth Avenue Financial.
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  Speaker 3: And a very pleason Good morning to you. You are
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  Speaker 3: listening to retire Right Radio on five eight. If you
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  Speaker 3: see HS the Boys for Charleston. I'm done, Peoperfect, so
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  Speaker 3: much for tuning in on this Monday morning. Congratulations you
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  Speaker 3: made up through the weekend. Remember those days last week
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  Speaker 3: when it was kind of cool and we were thinking, hey,
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  Speaker 3: autumn is right around the corner. Football seasons here, we
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  Speaker 3: get to wear a jacket to the football field on
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  Speaker 3: Friday night. Whatever it might be. Not so fast, my friend.
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  Speaker 3: It was hot this weekend. It's going to be hot today,
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  Speaker 3: and I think it's gonna be near a hundred tomorrow.
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  Speaker 3: I don't know. John Burdett for Fourth Avenue Financials in
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  Speaker 3: studio with us of course this morning, John, good morning,
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  Speaker 3: How you doing. Oh? Pretty good? Yeah, I was. I
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  Speaker 3: knew that. I'm not somebody that that roots on winter.
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  Speaker 3: I'm not a big fan of winter. I lived in
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  Speaker 3: Michigan for a long time, and I'm okay without like
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  Speaker 3: cold temperature and snow. Not that we get snow anymore,
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  Speaker 3: but I'm okay without that stuff. But at the same time,
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  Speaker 3: I kind of liked the eighty degree days, you know,
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  Speaker 3: and the fifty to fifty five degree nights. That was nice.
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  Speaker 3: That was nice for a while.
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  Speaker 4: Yeah, A little bit different this this heat wave than last.
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  Speaker 4: Is that the it seems like the evenings are a
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  Speaker 4: little bit cooler.
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  Speaker 3: Yeah, yeah, the sun positions different. We're not getting baked
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  Speaker 3: quite as much. I mean, the temperatures are different different
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  Speaker 3: times of year. I mean, people think that's crazy, but
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  Speaker 3: it's true. It's different because of the different locations of
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  Speaker 3: the earth and this.
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  Speaker 4: Side though, my yard just didn't do too well this year.
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  Speaker 4: And how many times as you moaned, do you think, well,
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  Speaker 4: I didn't mow it.
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  Speaker 3: How many times was your lawn mode?
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  Speaker 4: The problem is my lawnmower went to WVU, So.
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  Speaker 3: So that's that's the real problem.
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  Speaker 4: But uh, but yeah, the grass is all brown, and
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  Speaker 4: but now I've got these patches of you know, high
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  Speaker 4: grass that's like I can't really cut it with the mower.
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  Speaker 4: I guess you have to weed eat it out or something.
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  Speaker 3: I don't know the exact problem with my yards in like,
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  Speaker 3: I do not need to mow my lawn at all. However,
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  Speaker 3: I got trees in my yard, and so I'm starting
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  Speaker 3: to get some trees down, and then I have these
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  Speaker 3: little tufts of you know, wild grass that grow a
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  Speaker 3: little higher. So I'm in the exact same situation. It's
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  Speaker 3: like I need to get my yard clean, and I
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  Speaker 3: need to do the weeds, like I could run the
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  Speaker 3: lawn mower over it with a bag on it, and
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  Speaker 3: then to probably take care of the whole thing. But
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  Speaker 3: then I'm mowing the whole dan yard and I don't
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  Speaker 3: really need right, I don't know. It is bizarre though.
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  Speaker 3: I think I've only done a full lawn mowing maybe
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  Speaker 3: four times this year. The rest of them have been
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  Speaker 3: like spot mods or something like that. Like I have
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  Speaker 3: not had to do like the you know, every Thursday
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  Speaker 3: night when I get home from work, which used to
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  Speaker 3: be my thing every Thursday night. Go learn that from
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  Speaker 3: Jeff Jenkins. Go home, because you get it done for
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  Speaker 3: the weekend. You do it on Thursday night, you don't
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  Speaker 3: have to worry about it for the weekend, and the
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  Speaker 3: line will be nice all the way through Sunday, so
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  Speaker 3: on Sunday you won't be like, oh man, I need
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  Speaker 3: to get out there and mow it. But anyway, I
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  Speaker 3: haven't had to do that much this year. They hasn't
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  Speaker 3: been much mowing. If you have any questions, not about
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  Speaker 3: mind work or things along those lines, but about how
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  Speaker 3: you can retire right, how to manage your financial future
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  Speaker 3: from now and then into the future. You can give
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  Speaker 3: John a call this morning and give us a text.
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  Speaker 3: The phone line is three zero four, three four five
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  Speaker 3: fifty eight fifty eight. Three zero four, three four five
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  Speaker 3: fifty eight fifty eight. You can text over your questions
• 3:43
  Speaker 3: the three zero four none, three five five zero zero eight,
• 3:46
  Speaker 3: three zero four none, three five five zero zero eight.
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  Speaker 3: Those are the multiple ways you can get ahold of
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  Speaker 3: us this morning. Of course, if you have any questions
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  Speaker 3: about how you can retire right, any questions about your
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  Speaker 3: financial stability, how to a financial plan into your future
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  Speaker 3: for your family, you can give us a call this morning.
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  Speaker 3: John can can help point you in the right direction
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  Speaker 3: and maybe and maybe bring you on board and alleviate
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  Speaker 3: some of that nervousness from your financial future. We always
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  Speaker 3: start off the show we talked about the market from
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  Speaker 3: the week before. I think we're living over forty right now, right,
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  Speaker 3: if I'm not mistaken.
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  Speaker 4: Yeah, the markets are right at record heighs again. The
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  Speaker 4: the big swoon that everybody panicked about a month ago
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  Speaker 4: is in the rearview mirror. And what's interesting now the
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  Speaker 4: tech stocks have have certainly recovered from that swoon. But
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  Speaker 4: when you look at the returns of the market like
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  Speaker 4: the S and P, the Dow, and the Nasdaq, which
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  Speaker 4: is the tech heavy index. They were all up about
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  Speaker 4: the same percentage last week. So it's much more broad
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  Speaker 4: participation now and and I think we'll see that going forward.
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  Speaker 4: Of course, no one has a crystal ball, but you know,
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  Speaker 4: the FED and met last week and Jackson Hole and
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  Speaker 4: pretty much we're cutting rates. So next month when the
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  Speaker 4: FED meets, will probably see our first rate cut. I
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  Speaker 4: don't think it'll be that aggressive. It will probably be
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  Speaker 4: you know, this is not a rate cutting cycle like
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  Speaker 4: the pandemic or the housing crisis, where it's an emergency
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  Speaker 4: for the economy. Right, so we'll probably instead of half
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  Speaker 4: point one point cuts in the in the rate, we'll
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  Speaker 4: see a series of small incremental cuts. But certainly the
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  Speaker 4: foot is coming off.
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  Speaker 3: The break from the Fed, like twenty five basis points,
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  Speaker 3: like a point twenty five yeast rate cut something like that. Yeah,
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  Speaker 3: that makes sense, that makes sense. But that's what we
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  Speaker 3: wanted to see, right, I mean, a broad name of
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  Speaker 3: the market, interest rates possibly coming down, market looking good.
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  Speaker 3: I mean these I mean, like you say, there's no
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  Speaker 3: crystal ball, But as far as things seem that seems
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  Speaker 3: like where you want to be.
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  Speaker 4: Yeah, and you know, inflation's back down into the you know,
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  Speaker 4: three percent range. The Fed would like that to come down,
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  Speaker 4: but some of the internals in there make you lead
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  Speaker 4: you to believe that that that will happen. Over the
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  Speaker 4: next few months, we'll see that continue to come down.
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  Speaker 4: The one concern is the you know, the jobs market.
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  Speaker 4: The jobs market is maybe a little weaker than everyone thought.
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  Speaker 4: There was the big revision where eight hundred thousand jobs
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  Speaker 4: were reported over the last year, and in the revision
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  Speaker 4: they evaporated the whoops, we got that wrong by about
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  Speaker 4: eight hundred thousand, which is a pretty big number. That is,
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  Speaker 4: so the unemployment rate is higher. You know, the Fed
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  Speaker 4: keeps talking about, oh, we want unemployment to be four percent,
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  Speaker 4: and I think it's four point two or three now.
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  Speaker 4: And the trend is, you know, that seems to be
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  Speaker 4: ticking up. It's not a big concern. I mean, the
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  Speaker 4: the historic unemployment rate is in the in the five range,
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  Speaker 4: so we're still historically low, but it's moving in that direction.
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  Speaker 4: And that is another reason the Fed wants to get
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  Speaker 4: off the interest rate hike cycle.
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  Speaker 3: I guess the deal there, you want to have a
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  Speaker 3: shallow bounce when it comes to something like unemployment. I mean,
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  Speaker 3: it's okay for it to bounce in that range, but
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  Speaker 3: we don't want it to hit and then bounce back
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  Speaker 3: up to six or seven percent. You know, you want
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  Speaker 3: it to stay down around those historic numbers four or
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  Speaker 3: five percent.
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  Speaker 4: Well, one of the big concerns and the reason for
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  Speaker 4: that revision when somebody works, for instance, let's say you
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  Speaker 4: work two jobs. You know, you have a full time
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  Speaker 4: job or a part time or two part time jobs.
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  Speaker 4: That can be very confusing and get reported as two
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  Speaker 4: people working. And the revision basically went back and said, okay,
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  Speaker 4: how many of these jobs are the same people? And
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  Speaker 4: at eight hundred thousand, which means there are not as
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  Speaker 4: many full time jobs as first.
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  Speaker 3: Thought from a just from a lay person, you know,
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  Speaker 3: taking a snapshot in my brain of these things. That
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  Speaker 3: seems to make sense to me. I mean, it seems
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  Speaker 3: to make sense. And more people are hustling doing multiple jobs,
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  Speaker 3: you know, full time job, uber driver, on the side,
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  Speaker 3: whatever it might be. It seems like more people are
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  Speaker 3: doing that. And that's a different temperature for the economy
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  Speaker 3: than robust full time employment. It is, and it is.
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  Speaker 4: But then there's also the on the other side, Okay,
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  Speaker 4: is that just the new normal, that this is the
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  Speaker 4: way people like the flexibility of that, because.
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  Speaker 3: You could be hustling for disposal income. It might not
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  Speaker 3: be that you're hustling to make ends meet. It could
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  Speaker 3: be that, hey, I have my ends met, but I
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  Speaker 3: want to travel on the weekends, do X, y Z,
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  Speaker 3: whatever else, and so for extra money, I'm going to
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  Speaker 3: do by uber thing. Right.
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  Speaker 4: So it's hard to really say and read too much
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  Speaker 4: into that, but certainly you know that that is the
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  Speaker 4: reason for the revision as far as I can understand it.
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  Speaker 3: And so you know, is.
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  Speaker 4: It just a societal change of the way we approach
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  Speaker 4: work or or is the jobs market really much softer than.
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  Speaker 3: We first thought. That's a very interesting observation and an
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  Speaker 3: interesting point if you have any questions. This winning gives
• 9:05
  Speaker 3: all three zero four three four five fifty eight fifty eight.
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  Speaker 3: Three zero four three four five fifty eight fifty eight.
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  Speaker 3: I don't want to get deep into the weeds on this,
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  Speaker 3: but there's one and we've kind of brushed this issue
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  Speaker 3: just a little bit, but one thing that because we
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  Speaker 3: were talking about inflation and inflation going down. One thing
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  Speaker 3: that I've noticed during for example, Hoppy Show, we get
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  Speaker 3: a lot of people that respond to Hoppy via texts
• 9:24
  Speaker 3: and things like that, and that's something that we all
• 9:27
  Speaker 3: have access to. Actually, I created that whole thing, so
• 9:29
  Speaker 3: I have access to all the shows and the responses
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  Speaker 3: they get. One of the things that you get a
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  Speaker 3: lot of times when like somebody will be on Hoppy
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  Speaker 3: Show and talk about inflation's down to just under three
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  Speaker 3: percent or whatever it might be, is they'll get responses
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  Speaker 3: is like, no, Actually, if you look at inflation, it's
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  Speaker 3: up thirteen percent, you know, as you have to add
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  Speaker 3: year over year. And I just wanted to although this
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  Speaker 3: isn't exactly the thing here, but when you're looking at
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  Speaker 3: stuff like that and you're trying to determine where things are,
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  Speaker 3: it's not Although the effect in our pocketbook is cumulative.
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  Speaker 3: So if you had four percent four percent, four percent
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  Speaker 3: four percent or whatever, the effect in our pocketbook is
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  Speaker 3: chemot to. But that's not the way comparing apples to
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  Speaker 3: apples historically speaking, that we come up with the inflation number.
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  Speaker 3: The inflation number exists year over year, not four years
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  Speaker 3: over four years ago or whatever it might be.
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  Speaker 4: That's correct. I mean, so, so what that inflation rate means.
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  Speaker 4: It means over the last year, prices have risen. Let's
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  Speaker 4: say three point two percent, I believe, is what the
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  Speaker 4: last reported number was. That means if something costs a
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  Speaker 4: dollar last year, it costs a dollar and three cents
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  Speaker 4: this year. Now, Certainly, years back when inflation were higher,
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  Speaker 4: you know, was higher that that. Certainly you know, we
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  Speaker 4: were at seven eight nine percent. So you know, now
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  Speaker 4: this three percent is compounded on that. So it feels
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  Speaker 4: like it's especially coming off of a peak like we
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  Speaker 4: have so recently, it feels like things are still escalating
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  Speaker 4: because our minds and our wallets are still getting adjusted
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  Speaker 4: to the to what the prices are now. I mean,
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  Speaker 4: it's sort of you know, I don't know about you,
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  Speaker 4: but I've had sticker shock just driving through fast food.
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  Speaker 3: Yeah, fast food is a huge one. You know.
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  Speaker 4: Gosh, when I was in high school, you could take
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  Speaker 4: two bucks and and you know, you could eat at
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  Speaker 4: Taco Bell, right, and and.
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  Speaker 3: The twenty dollars challenge was literally one of everything on
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  Speaker 3: the main that's right.
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  Speaker 4: And now just a combo mills twelve bucks, and you
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  Speaker 4: know that to me, is that sticker shock when I
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  Speaker 4: when I do something like that, and you know, it's
• 11:29
  Speaker 4: not that that you know, it's keep it keeps escalating
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  Speaker 4: like that. It's just that that cumulative effect over the
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  Speaker 4: last thirty five years is a lot. And you know,
• 11:42
  Speaker 4: you know, people that are in the jobs market, your
• 11:46
  Speaker 4: wages tend to keep up with that over time. People
• 11:48
  Speaker 4: that are out of the jobs market, retirees, you know,
• 11:52
  Speaker 4: feel that pinch over time. I mean, that's why it's
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  Speaker 4: so important in a retirement plan to factor in inflation.
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  Speaker 4: And that's where the market does so well to keep
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  Speaker 4: up with inflation. You know, when you own a stock,
• 12:05
  Speaker 4: those companies are producing the goods and services that we're
• 12:07
  Speaker 4: consuming that are inflating. So you're no longer in the
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  Speaker 4: jobs market, but in serving people, you know, through your vocation.
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  Speaker 4: But now your money is and your money will keep
• 12:19
  Speaker 4: up with that because it's in the active market, and
• 12:22
  Speaker 4: it's it's you know, they're they're delivering their goods and
• 12:26
  Speaker 4: services in the current scheme of the value of money,
• 12:32
  Speaker 4: so to speak. That's why it's so important to have
• 12:35
  Speaker 4: some exposure to the market because you know, one looks
• 12:39
  Speaker 4: at the market and might think, well, that's too risky
• 12:41
  Speaker 4: for me, Well, you have to balance risk. The hidden
• 12:46
  Speaker 4: risk is your dollar won't go as far in retirement.
• 12:49
  Speaker 4: And that's where that finding that balance in your portfolio
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  Speaker 4: is so so important.
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  Speaker 3: People like to do the thing from the reverse of that. Well,
• 12:57
  Speaker 3: they'll go to something in nineteen eighty and look at
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  Speaker 3: the cost of it and be like, in real money today,
• 13:02
  Speaker 3: this costs you know, X amount of money or whatever
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  Speaker 3: it might be. If if you take a moment and
• 13:06
  Speaker 3: think about that, that means the end verse is almost
• 13:08
  Speaker 3: is also true that in the future to be able
• 13:10
  Speaker 3: to buy that thing, that you're going to need an
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  Speaker 3: x factor more than that to be able to buy
• 13:14
  Speaker 3: that same certain thing. And I think that that we
• 13:17
  Speaker 3: we make fun of the past so much as far
• 13:19
  Speaker 3: as as inflation and things like that goes. You know,
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  Speaker 3: it's like, oh, back in nineteen eighty you could get
• 13:24
  Speaker 3: you could get a frosty for a quarter. That's true.
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  Speaker 3: But in twenty fifty, when you're retired, how much is
• 13:28
  Speaker 3: a frosty going to cost? And so keep that in
• 13:30
  Speaker 3: mind as we're looking back to the past, that also
• 13:32
  Speaker 3: is going to affect your future, and so keeping up
• 13:35
  Speaker 3: with these things. That's why having money in your mattress
• 13:36
  Speaker 3: isn't going to work because that dollar you put in
• 13:38
  Speaker 3: there today is going to be twenty twenty four dollars,
• 13:41
  Speaker 3: not twenty twenty or twenty fifty dollars, right, And you.
• 13:45
  Speaker 4: Know, it would almost be better if some way we
• 13:47
  Speaker 4: could figure out an inflation benchmark that would take into
• 13:52
  Speaker 4: account how many hours you have to work to acquire
• 13:57
  Speaker 4: certain goods and services.
• 13:59
  Speaker 3: Oh wow, yeah, okay, yeah.
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  Speaker 4: Because that would would make it a lot more clear.
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  Speaker 4: And the reality is, I mean, there are certain things
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  Speaker 4: that have escalated over time, but but in theory, the
• 14:12
  Speaker 4: production should become more efficient over time, which should drive
• 14:15
  Speaker 4: prices down. And you can see that in wage terms.
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  Speaker 4: You know, think about a refrigerator, think about a washer
• 14:23
  Speaker 4: and dryer, think about a TV, think about a computer,
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  Speaker 4: you know, all of those things. You know, there's still
• 14:30
  Speaker 4: relatively major purchases, but they were real major purchases thirty
• 14:35
  Speaker 4: forty years ago, and now they're not so much. In
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  Speaker 4: other words, they cost more end dollar terms, but you
• 14:44
  Speaker 4: can acquire them with less hours worked, so in effect
• 14:50
  Speaker 4: they are actually cheaper.
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  Speaker 3: That makes sense. Yeah, that makes a lot of sense.
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  Speaker 4: When you you know, think about it that way. So
• 14:57
  Speaker 4: you know that's not all across the board. Obviously, there
• 15:00
  Speaker 4: are certain things that have have real price rises. You
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  Speaker 4: know that that when you factor it in, you know,
• 15:09
  Speaker 4: via your labor or our work. But I think that's
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  Speaker 4: probably the best way to over time view inflation. And
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  Speaker 4: and that's why if you go back thirty forty years ago,
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  Speaker 4: the quality of life, certainly we thought it was good,
• 15:26
  Speaker 4: was good then, but you know, we have a lot
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  Speaker 4: more goods and services today, a lot more bells and
• 15:31
  Speaker 4: whistles and gadgets. You know, cars are more expensive, but
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  Speaker 4: cars do a lot more than they used to do.
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  Speaker 4: So I think, you know, breaking things down like that
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  Speaker 4: might help put that in perspective. And I wish there
• 15:45
  Speaker 4: were a statistic for that that was a little more
• 15:50
  Speaker 4: you know, reported on a normal.
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  Speaker 3: Almost too much common sense because what you suggest there
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  Speaker 3: is actually makes a lot of sense to be able
• 15:55
  Speaker 3: to And it seems like that in all of the
• 15:56
  Speaker 3: eggheads that we have that that that crunch numbers for
• 15:59
  Speaker 3: the economy, you could come with something like that, you know,
• 16:01
  Speaker 3: hours a earned or something like that for a for
• 16:03
  Speaker 3: a good or product it seems right.
• 16:04
  Speaker 4: Or a basket of goods or products right, so that
• 16:08
  Speaker 4: you know we could kind of get an idea what
• 16:10
  Speaker 4: is the real cost of this in our in our
• 16:12
  Speaker 4: quality of life? And you know, anytime there's a spike
• 16:16
  Speaker 4: in inflation like we had, there's going to be a
• 16:19
  Speaker 4: disruption because prices changed quickly. But over time, you know,
• 16:24
  Speaker 4: most folks have kept up with inflation in their wages
• 16:27
  Speaker 4: if they're in the market.
• 16:29
  Speaker 3: You know, my uh you mentioned cars a minute ago,
• 16:32
  Speaker 3: and two things that that that I was kind of
• 16:34
  Speaker 3: thinking about doing the course of our conversation there, cars
• 16:36
  Speaker 3: and big screen TVs. Cars are have grown an expense
• 16:42
  Speaker 3: considerably and its it continues to grow year every year,
• 16:45
  Speaker 3: and it's because of all the things, like you talked about,
• 16:47
  Speaker 3: all the different things that they can do. Now there's
• 16:49
  Speaker 3: so much things that we can put into cars that
• 16:52
  Speaker 3: create a higher value thing. You know, you have your
• 16:53
  Speaker 3: own one board Wi Fi systems and all these different
• 16:56
  Speaker 3: things bells and whistles and things like that that are
• 16:58
  Speaker 3: that are impactful things that folks will pay for. Power. Yeah, yeah, yeah,
• 17:04
  Speaker 3: I mean yeah, going all the way back here, so
• 17:05
  Speaker 3: those used to be options exactly, whereas on the big
• 17:08
  Speaker 3: screen TV we've kind of mixed out what all you
• 17:11
  Speaker 3: can do. You know, you have your smart TVs that
• 17:13
  Speaker 3: have HD that have four K and all that. I mean,
• 17:16
  Speaker 3: at some point those are kind of mixed out. And
• 17:18
  Speaker 3: so what you see is that the technology remains kind
• 17:21
  Speaker 3: of the same, but because it gets cheaper to do
• 17:23
  Speaker 3: the technology. Now you get a seventy two inch TV
• 17:25
  Speaker 3: for three hundred bucks. You know, it used to be
• 17:27
  Speaker 3: that that that you couldn't buy a tube TV for
• 17:29
  Speaker 3: three hundred bucks. You know, it's incredible. But on cars,
• 17:32
  Speaker 3: they keep on adding things to it to create the value.
• 17:34
  Speaker 3: I've been I've been convinced for years now that there's
• 17:37
  Speaker 3: a market for if an auto automaker came in and
• 17:40
  Speaker 3: even if it was a hybrid, but it was a
• 17:41
  Speaker 3: hybrid that basically was just a hybrid without a tons
• 17:44
  Speaker 3: of bells and whistles, that that thing would sell like hotcakes.
• 17:46
  Speaker 3: Like I'm like, I think people there's a market for
• 17:48
  Speaker 3: that kind of car. Well, this past weekend I went
• 17:50
  Speaker 3: out with my mom. My mom asked, she's going to
• 17:52
  Speaker 3: go buy a car. She's in retirement. This is her
• 17:54
  Speaker 3: first car, last car, probably in retirement. She's going to
• 17:57
  Speaker 3: buy a car. She wants to go out and get it,
• 17:58
  Speaker 3: and she has the car in mind she has the
• 18:00
  Speaker 3: price that she wants to pay in mind, and my
• 18:02
  Speaker 3: mom is ruthless when it comes. She does not mess
• 18:04
  Speaker 3: around at all. So we went to some other dealerships
• 18:08
  Speaker 3: and stuff this weekend. The thing is if you and now,
• 18:11
  Speaker 3: a lot of the lots don't carry the base models
• 18:13
  Speaker 3: of vehicles, and that's one of the things you go
• 18:14
  Speaker 3: and you're like, oh, I want to get this car. Well,
• 18:16
  Speaker 3: you know, everybody's like, oh, you know, an average car
• 18:18
  Speaker 3: costs fifty grand. That's not necessarily the case. The average
• 18:21
  Speaker 3: car that's on the lot might be around that number.
• 18:23
  Speaker 3: But my mom found the car that she wanted, and
• 18:25
  Speaker 3: she started wearing the phone out, calling around until she
• 18:28
  Speaker 3: found a dealership that was getting the car in that
• 18:30
  Speaker 3: she wanted. She found the package that she wanted and
• 18:32
  Speaker 3: everything else, and she got the number that she was
• 18:34
  Speaker 3: looking for, way less than what everybody is like, Hey,
• 18:37
  Speaker 3: this is what your average car is. Then it's a
• 18:38
  Speaker 3: nice car. It's not. I mean, you know, it's a Subaru.
• 18:40
  Speaker 3: It's a nice car once. It's going to last her forever.
• 18:43
  Speaker 3: But it's just amazing to me that we do pay.
• 18:46
  Speaker 3: Because I tried to run some numbers on this a
• 18:48
  Speaker 3: while back. On how much we pay for cars now,
• 18:51
  Speaker 3: yet how much they how much longer they last than
• 18:53
  Speaker 3: what they did like forty years ago or something like that.
• 18:55
  Speaker 3: And it's not a wash. We are still paying and
• 18:58
  Speaker 3: maintenance and stuff like that. We are still paying more
• 19:00
  Speaker 3: than what we did, but it's not as much as
• 19:02
  Speaker 3: what you would think because we replaced cars more often
• 19:05
  Speaker 3: and we had to trade them in more often and.
• 19:07
  Speaker 4: Rust out exactly when's the last time you saw a
• 19:09
  Speaker 4: new car rust out exactly?
• 19:11
  Speaker 3: Right? So there's a there's a balance to those things
• 19:13
  Speaker 3: that you can do, and I think there's a sweet
• 19:15
  Speaker 3: spot in there. Like I think, honestly, what my mom
• 19:17
  Speaker 3: just did where she paid a very modest amount for
• 19:19
  Speaker 3: a brand new car, I think for her that's going
• 19:21
  Speaker 3: to end up being the perfect situation because she didn't
• 19:24
  Speaker 3: make one of those huge investments into a house priced car,
• 19:27
  Speaker 3: but she's getting the modern convenience of a car that's
• 19:29
  Speaker 3: going to last forever, because these things last basically forever now.
• 19:32
  Speaker 3: So I think she hit it right in the sweet
• 19:33
  Speaker 3: spot for that. And if you're if you're a steward
• 19:36
  Speaker 3: of your finances and you're looking at what you're going
• 19:37
  Speaker 3: to do, and that's how you can take control of
• 19:39
  Speaker 3: what it is that you're doing, even in retirement.
• 19:41
  Speaker 4: Oh, no doubt about it. I mean, you know, basically,
• 19:45
  Speaker 4: buying what you need is always going to be cheaper
• 19:50
  Speaker 4: than you know, taking her just what's shoved in front of.
• 19:53
  Speaker 3: You right right, which is sometimes the easy way out right.
• 19:57
  Speaker 3: That's how it's like, well, we can't do this, but
• 19:58
  Speaker 3: for just this much more, we can it right now,
• 20:01
  Speaker 3: this very second. But it's awful hard to turn that
• 20:02
  Speaker 3: down sometimes.
• 20:03
  Speaker 4: Yeah, no doubt about it. And but like you say,
• 20:05
  Speaker 4: cars are there's so many bells and whistles. I mean,
• 20:08
  Speaker 4: you open a door to a car now and it's
• 20:09
  Speaker 4: got a led projection on the road of the logo.
• 20:13
  Speaker 3: Of the car. I know, it's incredible. No that what's
• 20:16
  Speaker 3: the cost of that? And it doesn't have any practical
• 20:18
  Speaker 3: purpose for me, zero practical purpose.
• 20:20
  Speaker 4: But but you're paying for the doct right, So yeah,
• 20:23
  Speaker 4: but that that also is you know, people complain about
• 20:27
  Speaker 4: the price of that, but but the road is full of.
• 20:30
  Speaker 3: Them, right, so somebody's paying for it.
• 20:31
  Speaker 4: So so somebody's paying for it. And and the reality is,
• 20:37
  Speaker 4: you know, if people are you know, they're not they're
• 20:39
  Speaker 4: not being uh repossessed of that often. So so you know,
• 20:45
  Speaker 4: now you can say, is this a wise use for
• 20:47
  Speaker 4: your money?
• 20:48
  Speaker 3: Uh?
• 20:49
  Speaker 4: If you're strapped in a car payment? No, but people
• 20:51
  Speaker 4: are making the payments or they wouldn't have the cars, right,
• 20:54
  Speaker 4: And now you know you could then turn that into
• 20:58
  Speaker 4: is that the best use of your money? Should you
• 21:00
  Speaker 4: be spending less on a car and investing more? Probably?
• 21:06
  Speaker 4: But as the society, you know, the cars are being made,
• 21:10
  Speaker 4: but mose people are buying.
• 21:11
  Speaker 3: Right right and whether if for comfort or status or
• 21:14
  Speaker 3: whatever it is, you know, if they say they sell,
• 21:16
  Speaker 3: that's what that's what the bottom line is for. Yeah,
• 21:18
  Speaker 3: let's do this. Let's going to take a break. We
• 21:19
  Speaker 3: still have plenty of time for your phone calls, for
• 21:21
  Speaker 3: your questions. If you want to point the direction of
• 21:22
  Speaker 3: the show, we would love to have some input from you.
• 21:24
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• 21:26
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• 21:27
  Speaker 3: If you want to find out anything about how you
• 21:29
  Speaker 3: can plan for your financial future, how you can retire
• 21:32
  Speaker 3: right and give us a call this morning at three
• 21:33
  Speaker 3: zero four three four five fifty eight fifty eight. You
• 21:35
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• 21:39
  Speaker 3: and be back right after this. You're listening to a
• 21:40
  Speaker 3: retire Right Radio with John Redett from Fourth Avenue Financial.
• 21:43
  Speaker 3: Check out more information online at Fourth Avenue Financial dot com.
• 21:46
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• 21:48
  Speaker 3: dot com. Also, you can like the page on Facebook
• 21:50
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• 21:52
  Speaker 3: be back right after this. You're listening to tire Right
• 21:55
  Speaker 3: Radio one five eight wc HS, the Voice of Charleston.
• 21:58
  Speaker 3: Retire Right Radio was sponsored by Fourth Avenue One, which
• 22:00
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• 22:06
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• 22:13
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• 22:16
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• 22:19
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• 22:22
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• 22:25
  Speaker 3: not intended to be used by any person for the
• 22:27
  Speaker 3: purpose of avoiding US federal or state tax penalties that
• 22:30
  Speaker 3: may be imposed on such a person, and each listener
• 22:32
  Speaker 3: should seek advice from their tax advisor or legal console
• 22:36
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• 22:38
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• 22:41
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• 22:44
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• 22:47
  Speaker 3: for its content.
• 22:48
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  Speaker 2: Fought to you by City National Bank. Where are no
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  Speaker 2: log on to bank Atcity dot com. This is re
• 24:00
  Speaker 2: tire Right Radio with John Burdett from Fourth Avenue Financial,
• 24:04
  Speaker 2: taking your calls at three oh four three four five
• 24:07
  Speaker 2: fifty eight fifty eight more text on three oh four
• 24:10
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• 24:17
  Speaker 3: Thirteen minutes until the top of the Now you're listening
• 24:20
  Speaker 3: to We're Tired Like Radio five any age of its
• 24:22
  Speaker 3: call this morning three D are fore three four five
• 24:25
  Speaker 3: want to talk to John for dad on counting you
• 24:26
  Speaker 3: can retire when you can plan for your money every
• 24:28
  Speaker 3: way for John D help me out for sure A
• 24:29
  Speaker 3: four three four five fifty eight fifty eight. You can
• 24:31
  Speaker 3: also text any questions that you have to three zero
• 24:33
  Speaker 3: a four non three five five zero zero eight three
• 24:35
  Speaker 3: zero four non three five five zero zero eight. We
• 24:38
  Speaker 3: touched on this just a little bit last week, but
• 24:40
  Speaker 3: it's it's a good idea. You guys do look box
• 24:43
  Speaker 3: every once in a while anyway, where you check in
• 24:45
  Speaker 3: on folks, how they're how they're diversified, their structure is
• 24:49
  Speaker 3: anything different than they can look at. But we are
• 24:51
  Speaker 3: starting to see a little bit of a shift. You know,
• 24:53
  Speaker 3: it's not a bad idea with interest rates that are
• 24:55
  Speaker 3: going to be coming down now, you know, tools in
• 24:57
  Speaker 3: the toolbox, this is where things start to change up
• 24:59
  Speaker 3: a little bit. What a bad idea to check in
• 25:01
  Speaker 3: with your financial planner maybe and say, hey, what do
• 25:04
  Speaker 3: you advise anything that we should do right now?
• 25:06
  Speaker 4: Oh? Yeah, absolutely. I mean if you have particularly those
• 25:10
  Speaker 4: what we're really seeing right now, If you've purchased an
• 25:14
  Speaker 4: annuity in the past, and you know, if you bought
• 25:18
  Speaker 4: that a handful of years ago, interest rates were so
• 25:21
  Speaker 4: much lower. Now with the interest rates being what I
• 25:26
  Speaker 4: think we're going to say is the peak, the offerings
• 25:31
  Speaker 4: are so much better. You know, a lot of times
• 25:34
  Speaker 4: folks maybe bought the annuity and wanted to use it
• 25:38
  Speaker 4: for a retirement income stream. I mean, there are some
• 25:41
  Speaker 4: cases where where we've been able to give people, you know,
• 25:45
  Speaker 4: it's five six, seven hundred dollars a month raises in
• 25:48
  Speaker 4: their income stream just simply because.
• 25:51
  Speaker 3: The interest rates have changed. Wow. And so it's.
• 25:54
  Speaker 4: Worth looking into if you're in those type of situations,
• 25:58
  Speaker 4: if you're in CDEs bonds things like that in your portfolio,
• 26:02
  Speaker 4: might be a good time to go out a little
• 26:04
  Speaker 4: farther on the duration, you know, go a little longer
• 26:07
  Speaker 4: term on them, because you're if you if you do
• 26:10
  Speaker 4: short term, you might get a better rate up front,
• 26:13
  Speaker 4: but when that renews, it's going to be at a
• 26:14
  Speaker 4: lower rate as the Fed starts cutting, and it could
• 26:19
  Speaker 4: make sense to shift that duration a little longer in
• 26:22
  Speaker 4: this environment.
• 26:23
  Speaker 3: That does uh, that does make a That does make
• 26:25
  Speaker 3: a lot of sense. We do have a phone call
• 26:27
  Speaker 3: that we ordered, I mean a text message we have
• 26:29
  Speaker 3: to get to real quick here. This is from the
• 26:31
  Speaker 3: seven six zero nine hundred. Who would someone talk to
• 26:34
  Speaker 3: about financial changes when someone gets married. I'm in a
• 26:37
  Speaker 3: situation where not being married is better financially for health
• 26:40
  Speaker 3: insurance and for my child and her mother. I'm looking
• 26:43
  Speaker 3: to get financial picture of what changes marriage will bring.
• 26:45
  Speaker 3: Thank you.
• 26:47
  Speaker 4: Hmmm, Well, I mean certainly we can do a financial
• 26:50
  Speaker 4: plan for somebody combining finances in some of those details.
• 26:55
  Speaker 4: Though with the health insurance, I mean that depends on
• 26:58
  Speaker 4: the on the plan and the co company.
• 27:01
  Speaker 3: I'm sure. I guess with health insurance some of them
• 27:03
  Speaker 3: require for you to like there's certain requirements that maybe
• 27:07
  Speaker 3: they're getting a benefit with carrying too different health plans.
• 27:10
  Speaker 3: I don't know how that works.
• 27:11
  Speaker 4: Yeah, And some employers will only pay for the employees subsidized,
• 27:16
  Speaker 4: the employee, not the not the spouse. I mean, there
• 27:20
  Speaker 4: are lots of differences there that you would have to
• 27:24
  Speaker 4: really dig into with the with the insurance companies more so,
• 27:29
  Speaker 4: I mean as far as financial planning, you know, we
• 27:32
  Speaker 4: can certainly help with building a plan, building it together,
• 27:37
  Speaker 4: figuring out, you know, what your long term goals are.
• 27:39
  Speaker 4: But some of those specific things there, you're going to
• 27:41
  Speaker 4: have to dig into those to get the answers so
• 27:44
  Speaker 4: that we can incorporate that into the plan.
• 27:46
  Speaker 3: And this is a completely legit question and stuff that
• 27:49
  Speaker 3: people run across all the time. You're going to have
• 27:51
  Speaker 3: some complications with that. And if this is something that
• 27:54
  Speaker 3: you know, the insurance portion you got to kind of
• 27:56
  Speaker 3: get figured out your your financial planner can't really help
• 27:58
  Speaker 3: you with that. But once again to the point, if
• 28:00
  Speaker 3: you need some help in figuring that out, you can't
• 28:01
  Speaker 3: give John a call. The phone number three are A
• 28:03
  Speaker 3: four seven four six seven nine seven seven for Fourth
• 28:05
  Speaker 3: Avenue Financial threes are A four seven four six seven
• 28:08
  Speaker 3: nine seven seven if you want to give John a
• 28:10
  Speaker 3: call when it comes to deploying something like that, because
• 28:12
  Speaker 3: it can get you know, I mean, there's a lot
• 28:14
  Speaker 3: of things in there that can get a little bit complicated.
• 28:18
  Speaker 3: And another thing that we touch on this from time
• 28:20
  Speaker 3: to time, there's all of these supposed hacks that you
• 28:23
  Speaker 3: run across on the internet and different things like that
• 28:25
  Speaker 3: where people will tell you like I've seen wild things
• 28:27
  Speaker 3: like amping up your claiming number for on your tax returns,
• 28:31
  Speaker 3: and just like wild things like why would you do that?
• 28:33
  Speaker 3: Why would you want to hack your how much you're
• 28:35
  Speaker 3: claiming on your forums and like all these different things,
• 28:38
  Speaker 3: I don't know why you would do that. So getting
• 28:40
  Speaker 3: professional advice is a good idea instead of like maybe
• 28:42
  Speaker 3: running across a TikTok channel where you see something that
• 28:45
  Speaker 3: maybe sounds interesting, you know that maybe not isn't the
• 28:48
  Speaker 3: best decision all the time.
• 28:49
  Speaker 4: Yeah, don't don't take financial advice from the hot two
• 28:52
  Speaker 4: hey girls.
• 28:52
  Speaker 3: So that's right. I had a conversation with Tom Peyton
• 28:58
  Speaker 3: about a month or so ago. Tom just kind of
• 29:00
  Speaker 3: brought up organically on his own how he's starting to
• 29:03
  Speaker 3: see all these people that are wanting to put there
• 29:06
  Speaker 3: always put their estates and trusts, like the moment that
• 29:09
  Speaker 3: they get to maturity. Basically they're looking to put their
• 29:10
  Speaker 3: estate in trust at like thirty or forty years old
• 29:12
  Speaker 3: or whatever it might be. And he's like, there's nothing
• 29:14
  Speaker 3: wrong with trust, but let's talk about what trust mean exactly.
• 29:16
  Speaker 3: And I'm not going to speak for Tom, and if
• 29:18
  Speaker 3: you have questions about to give Tomic call, but sure
• 29:20
  Speaker 3: that's not always advantageous. In fact, a lot of times
• 29:23
  Speaker 3: it's not advantageous to put all your stuff in a trust,
• 29:25
  Speaker 3: especially as a young person. Things along those lines. And
• 29:28
  Speaker 3: just the next day I was on line and I
• 29:30
  Speaker 3: saw something on YouTube or something like that it was
• 29:33
  Speaker 3: like the ultimate haick to take care of your finances,
• 29:35
  Speaker 3: and it was like, put everything in a trust right now,
• 29:38
  Speaker 3: you'll avoid all taxes a meal to do everything you
• 29:40
  Speaker 3: want forever with all of your money. And I'm like,
• 29:41
  Speaker 3: oh my god, oh yeah, yeah.
• 29:44
  Speaker 4: It is almost outrageous what gets spewed out there on
• 29:50
  Speaker 4: the internet. And you have to be very very careful
• 29:53
  Speaker 4: with that. I mean anytime, well I just used a definitive,
• 29:58
  Speaker 4: but most of the time, when when there is a
• 30:04
  Speaker 4: it's all always this makes sense, Always avoid that because
• 30:10
  Speaker 4: always never works. There's always an exception to always right.
• 30:20
  Speaker 4: And in a financial plan, there are lots of moving parts,
• 30:26
  Speaker 4: and what's right for one person might not be right
• 30:29
  Speaker 4: for the other. And you know, some guy that that
• 30:34
  Speaker 4: is trying to get followers on the internet knows nothing
• 30:38
  Speaker 4: about you, knows nothing about your situation, and you have
• 30:43
  Speaker 4: to be very careful about diving in taking advice from
• 30:47
  Speaker 4: from somebody that that doesn't understand that, because it's probably
• 30:52
  Speaker 4: not going to be the right thing.
• 30:53
  Speaker 3: For you to do. Yeah. I see a lot of
• 30:55
  Speaker 3: these things, and a lot of the things I'm not
• 30:56
  Speaker 3: experts one, so I just tend to look at skeptically
• 30:59
  Speaker 3: and move past and not worry about it too much.
• 31:01
  Speaker 3: But when you get folks that are that are trying
• 31:04
  Speaker 3: to be content creators giving what they're considering advice, and
• 31:09
  Speaker 3: they basically get fans then who will claim that their
• 31:14
  Speaker 3: advice is solid. And sometimes I wonder if that feedback
• 31:18
  Speaker 3: loop there is even organic, or if the fans are
• 31:21
  Speaker 3: actually even doing the stuff. Orf they just happen to
• 31:23
  Speaker 3: like the young lady or the young man that are
• 31:25
  Speaker 3: doing the thing, and they're just saying, hey, this is great,
• 31:27
  Speaker 3: and they never actually even do the thing that they're
• 31:28
  Speaker 3: talking about. I mean, it seems like there's a lot
• 31:30
  Speaker 3: of that kind of glazing that goes on, and you
• 31:32
  Speaker 3: can get yourself in trouble if you start doing really
• 31:34
  Speaker 3: bizarre things.
• 31:35
  Speaker 4: Yeah, and I think the red flag goes up as
• 31:37
  Speaker 4: soon as somebody says it's a hack.
• 31:39
  Speaker 3: That's a great point, right, that's a great point. You know,
• 31:42
  Speaker 3: if it's if it's a hack for like peeling boiled
• 31:45
  Speaker 3: eggs or something, maybe you're okay as far as it goes.
• 31:47
  Speaker 3: But if it's a hack for how you can like
• 31:48
  Speaker 3: make a ton of money real quick or something, maybe
• 31:51
  Speaker 3: a little skepticism is involved as far as that goes. Think.
• 31:53
  Speaker 4: You know, I've dealt with a lot of folks that
• 31:56
  Speaker 4: have become very successful and it wasn't a hack. It
• 31:59
  Speaker 4: was it was a process and discipline.
• 32:02
  Speaker 3: So if folks are looking and again we're in this
• 32:06
  Speaker 3: situation now where we're in an election cycle, we're coming
• 32:09
  Speaker 3: off of still all the bad mojo that happened with COVID,
• 32:13
  Speaker 3: the various things that are happening around the world as
• 32:15
  Speaker 3: far as conflicts and stuff like that goes. We had
• 32:18
  Speaker 3: all the supply chain misery and things like that. But
• 32:21
  Speaker 3: as we can see if we just take from say
• 32:25
  Speaker 3: twenty twenty or something like that, just for the last
• 32:27
  Speaker 3: four years and we look at how things have gone,
• 32:29
  Speaker 3: I think that if you would go back to sort
• 32:32
  Speaker 3: of the council and the advice and the impressions that
• 32:35
  Speaker 3: you would give on all of these shows leading from
• 32:37
  Speaker 3: week to week to week, it's been your takes when
• 32:40
  Speaker 3: these have been very moderate and very much in line
• 32:43
  Speaker 3: with what's actually happened. You know, you can't be overly
• 32:46
  Speaker 3: reactive to things that are happening in the right this second,
• 32:49
  Speaker 3: because you end up, like a couple of months or
• 32:50
  Speaker 3: a couple of weeks ago, the market had a one
• 32:53
  Speaker 3: day crash, a lot of people were weirdly rooting and
• 32:57
  Speaker 3: also reacting like that was the new normal up being
• 33:00
  Speaker 3: like a normal for just a couple of days. You
• 33:03
  Speaker 3: have to you have to take some you have to
• 33:05
  Speaker 3: take some objective moderation in your evaluation of these things
• 33:08
  Speaker 3: and not be rooting for things because of political bents
• 33:11
  Speaker 3: or whatever it might be.
• 33:12
  Speaker 4: Well, you know, sometimes I think to myself, here, I'm
• 33:16
  Speaker 4: psychoanalyzing myself. I was like people listening to the show.
• 33:21
  Speaker 4: Am I being definitive enough in my answers? You know,
• 33:25
  Speaker 4: I'm not jumping on any desk here and and proclaiming
• 33:29
  Speaker 4: these things. But that's not how it works. It's really
• 33:33
  Speaker 4: not how it works. And that's how TV works, That's
• 33:37
  Speaker 4: how a lot of media works. But that's not going
• 33:40
  Speaker 4: to work in your financial life. You know, you turn
• 33:43
  Speaker 4: on the TV and you see two people shouting at
• 33:46
  Speaker 4: each other that are both supposedly experts disagreeing. You know,
• 33:51
  Speaker 4: that is the market. That's what a market is, right,
• 33:55
  Speaker 4: and you know you don't have to jump on a
• 33:57
  Speaker 4: table to know that or to state that. Now, what
• 34:00
  Speaker 4: does that mean? What does that mean for you if
• 34:03
  Speaker 4: you're watching that program trying to make a decision, Well,
• 34:06
  Speaker 4: it means you don't have any answers.
• 34:07
  Speaker 3: Really, And I think that's it. I think people like answers,
• 34:11
  Speaker 3: and so so if somebody comes more definitively, even if
• 34:14
  Speaker 3: they're wrong a lot of times right, they like not
• 34:16
  Speaker 3: having to make the decision.
• 34:18
  Speaker 4: Yes, and they're the answers are out there, but the
• 34:23
  Speaker 4: answers are not the answers people want. People want Right now,
• 34:29
  Speaker 4: you know, this is how this is going to work.
• 34:31
  Speaker 4: Right now, the market is very clear. I mean, you
• 34:34
  Speaker 4: don't have to jump on a table to know how
• 34:36
  Speaker 4: things work systematically over time. You just can't predict it
• 34:41
  Speaker 4: from one day to the next, but it's very predictable
• 34:44
  Speaker 4: over time. You know, if you've got a company that's
• 34:47
  Speaker 4: serving people, meeting needs, solving problems, making profit doing that,
• 34:52
  Speaker 4: chances are you're going to be doing pretty well if
• 34:54
  Speaker 4: you're the owner of that company. Now, there can be
• 34:58
  Speaker 4: one day pullbacks swings in the market that are unpredictable,
• 35:02
  Speaker 4: but over time, if your company continues to do that
• 35:06
  Speaker 4: and you own a part of it, you're going to
• 35:09
  Speaker 4: make money. And you know, that's all you really need
• 35:14
  Speaker 4: to know. That's what you need to know.
• 35:17
  Speaker 3: Really, a lot of other stuff is nonsense, it really is.
• 35:21
  Speaker 4: And so you know, sometimes I get on this show
• 35:23
  Speaker 4: and think, you know, should I make these you know, proclamations,
• 35:27
  Speaker 4: And I guess that is the proclamation. It's just not
• 35:29
  Speaker 4: a right now you have to do this right now
• 35:34
  Speaker 4: today because of this event or that event it's going
• 35:38
  Speaker 4: to happen.
• 35:38
  Speaker 3: Sometimes reality is not as sexy, you know, that's right.
• 35:41
  Speaker 4: And and and so what I try to convey in
• 35:43
  Speaker 4: the show is that long term view. And like you say,
• 35:48
  Speaker 4: it's not a hack, but it gets you there. It
• 35:52
  Speaker 4: gets you there, and it gets you there consistently. You know,
• 35:54
  Speaker 4: I've done this long enough twenty five years now, and
• 35:59
  Speaker 4: I've seen enough success people to know how they've done it.
• 36:03
  Speaker 4: And it is it's a long term process. It's not
• 36:07
  Speaker 4: getting too excited over all this news that goes on.
• 36:10
  Speaker 4: It's just building a plan and seeking to it.
• 36:12
  Speaker 3: I will very quickly throw out an analogy real quick.
• 36:15
  Speaker 3: And I just realized this this weekend that I've been
• 36:18
  Speaker 3: doing this a lot and I have to stop. So
• 36:21
  Speaker 3: I'll look up to try to find something to do.
• 36:22
  Speaker 3: Like on YouTube. I mean it's very useful. I mean,
• 36:24
  Speaker 3: if anything you need to find out how to do,
• 36:26
  Speaker 3: you can find it on YouTube. And generally it's accurate information.
• 36:28
  Speaker 3: You can find good stuff. But the AI on Google
• 36:32
  Speaker 3: now is starting to find the place in the video
• 36:34
  Speaker 3: for you, right down to the second on the query
• 36:36
  Speaker 3: that you asked for. So if you're asking how to
• 36:38
  Speaker 3: change a pipe and a fitting or something like that,
• 36:40
  Speaker 3: it takes you right to that specific point, which seems
• 36:43
  Speaker 3: like it would be very beneficial. It's like, Oh, this
• 36:45
  Speaker 3: is the exact point that I need to make in
• 36:47
  Speaker 3: order to change out this do hicky or whatever it
• 36:49
  Speaker 3: might be. What I've discovered is that when I go
• 36:52
  Speaker 3: straight to that point and I try to do it,
• 36:54
  Speaker 3: I'm missing the stuff that came before that, and sometimes
• 36:57
  Speaker 3: the process that comes before that that prepares that do
• 37:00
  Speaker 3: hickey that I have to switch out or whatever it
• 37:01
  Speaker 3: might be. It's very important, and I'm like, well, I
• 37:04
  Speaker 3: just screwed this up. Let me let me go back
• 37:06
  Speaker 3: a minute in this video and see what I missed. Oh,
• 37:08
  Speaker 3: that's what I missed.
• 37:09
  Speaker 4: Context is very important.
• 37:10
  Speaker 3: Exactly, So when I watched the whole thing, I fix
• 37:13
  Speaker 3: the problem. And I think a lot of people are
• 37:14
  Speaker 3: jumping right to that point in the video for their
• 37:16
  Speaker 3: life high or for their quick fix or whatever it is,
• 37:18
  Speaker 3: and you're not watching the rest of the video to
• 37:20
  Speaker 3: see how to get to.
• 37:20
  Speaker 4: That point, he is, sometimes you have to read the
• 37:22
  Speaker 4: whole book.
• 37:23
  Speaker 3: True, It's very true. John. I appreciate your time. Thinks
• 37:25
  Speaker 3: a bunch all right, Thank you now, Jean Bretett for
• 37:27
  Speaker 3: Fourth Avenue Financial. Once again, let me get the information
• 37:29
  Speaker 3: out for you, Fourth Avenue Financial dot Com. You spell
• 37:31
  Speaker 3: out the whole thing, Fourth Avenue Financial dot Com once
• 37:33
  Speaker 3: seventy fourth Street, Downtown Charleston. Three zero four seven four
• 37:36
  Speaker 3: six seven down seven seven. That's three zero four seven,
• 37:38
  Speaker 3: four six seven done seven seven. Is where you can
• 37:40
  Speaker 3: get a hold of jenbredat Fourth Avenue Financial, Fourth Avenue
• 37:43
  Speaker 3: Financial dot Com and on Facebook at Fourth Avenue Financial.
• 37:45
  Speaker 3: John will be back here on Monday morning at the
• 37:47
  Speaker 3: eight twenty on five adw CHS the boys at Charleston.
• 37:50
  Speaker 3: Have a great day everyone. I'm back in just a
• 37:51
  Speaker 3: few moments on five eight live. Have a great day
• 37:53
  Speaker 3: in five ADWHS.
• 37:58
  Speaker 2: Five eighths a six point five FM, Charleston at one
• 38:01
  Speaker 2: oh four point five Cross Lanes, WVRC Media Station. We're
• 38:06
  Speaker 2: proud to live here too.