Latest / WCHS Network Podcasts / 12/08/2025 Retire Right Radio with John Burdette

Transcript

12/08/2025 Retire Right Radio with John Burdette · WCHS Network Podcasts

0:00
Speaker 1: Unlock your dream property with Meeks Realty Group, where Rich
0:03
Speaker 1: the realtor makes real estate dreams a reality, whether it's
0:05
Speaker 1: residential or commercial. We've got Charleston to Huntington covered. Your
0:09
Speaker 1: key to exceptional real estate experience is start here Meeks Realtygroup.
0:13
Speaker 1: Contact us at Meeks dot us.
0:16
Speaker 2: The views and opinions expressed on this program do not
0:18
Speaker 2: necessarily reflect the views and opinions of five ADWCHS, its employees,
0:23
Speaker 2: or WVRC Media. This is retire Right Radio, a weekly
0:28
Speaker 2: show from John Verdead at Fourth Avenue Financial that aims
0:32
Speaker 2: to answer your questions about financial planning, investing, and how
0:35
Speaker 2: to retire right. Fourth Avenue Financial is located in downtown
0:39
Speaker 2: Charleston at one seventy Court Street. More information online at
0:43
Speaker 2: Fourth Avenue Financial dot com. Join the conversation by calling
0:47
Speaker 2: three oh four three four five fifty eight fifty eight
0:50
Speaker 2: or text three oh four nine three five fifty oh eight.
0:54
Speaker 2: On Retire Right Radio, Let's go live to the studio
0:58
Speaker 2: with host Dale Cooper and John Verdet from Fourth Avenue
1:00
Speaker 2: Financial and very fleuch It.
1:02
Speaker 3: Good morning to you.
1:03
Speaker 4: You're listening to w c HS the Voice of Charles
1:06
Speaker 4: and this is retire Right Radio on this Monday morning,
1:08
Speaker 4: John fordet is joining us in the studio this morning.
1:11
Speaker 3: How you doing this morning, John?
1:12
Speaker 4: Pretty good?
1:12
Speaker 3: Skated right on end.
1:13
Speaker 4: Yeah, just about skated in. I'd be careful if you're
1:15
Speaker 4: headed out out there. It's a little touch and go
1:18
Speaker 4: on the on the roads right now. It's uh, it's
1:20
Speaker 4: wet and the snow. At least the last time I look,
1:22
Speaker 4: the flakes were starting to come down a little bit bigger.
1:24
Speaker 4: It looks a little snowy, and it's a little slippery
1:27
Speaker 4: on the roads. You gotta be careful, Yeah, especially.
1:28
Speaker 3: If they're untreated.
1:29
Speaker 4: Uh.
1:30
Speaker 5: There there were a few spots that were a little
1:32
Speaker 5: treacherous coming in. But after you get off the hills,
1:35
Speaker 5: you're you're good.
1:36
Speaker 4: The highway should be fine, and we all should know
1:38
Speaker 4: how to drive in light snow, so it should be
1:40
Speaker 4: that big of a deal. But just be aware of
1:42
Speaker 4: that that there is some snow sticking and visibility. At
1:45
Speaker 4: least when I came to work it's I don't think
1:46
Speaker 4: it's as bad right now, but just before eight o'clock,
1:49
Speaker 4: visibility was actually very bad on the highways where the
1:51
Speaker 4: snow was coming down. So you might have more problems
1:54
Speaker 4: with visibility than anything else. Just be aware as you're
1:56
Speaker 4: driving around today. But congratulations, you made it to Monday.
1:58
Speaker 4: We came through the weekend days closer to Christmas, just
2:02
Speaker 4: right around the corner, literally just right around the corner now.
2:04
Speaker 4: And when am I ever not ready?
2:06
Speaker 3: Seventeen days?
2:07
Speaker 6: Yeah?
2:07
Speaker 4: I know, man, I don't know. Every year I seem
2:09
Speaker 4: to get behind the same eight ball. But we are.
2:12
Speaker 4: We going to be taking your phone calls today. If
2:14
Speaker 4: you have any questions about how you can play in
2:15
Speaker 4: your financial future, you can give John a call three
2:18
Speaker 4: zero four three four five fifty fifty eight three four
2:20
Speaker 4: five fifteen fifty eight. You can also text three zero
2:22
Speaker 4: four none three five five years or eight. You can
2:24
Speaker 4: find out more about Fourth Avenue Financial online. It's worth
2:26
Speaker 4: Avenue Financial dot com. You can also like that Facebook page.
2:29
Speaker 4: You do a search for the same thing. It's Fourth
2:31
Speaker 4: Avenue Financial. You spell out the whole thing and you
2:33
Speaker 4: can find it in any place. So we always start
2:36
Speaker 4: off the show by discussing what happened the week before.
2:39
Speaker 4: I don't even remember last week, to be honest with you,
2:41
Speaker 4: but we're still here.
2:42
Speaker 5: We're of the same.
2:42
Speaker 3: We went up again.
2:43
Speaker 4: Yeah, there we go what do you know.
2:45
Speaker 5: Yeah, the markets were up around half a percent or
2:49
Speaker 5: so across the board. Text docts rebounded a little bit
2:52
Speaker 5: from their underperformance in the last several weeks, so it was,
2:58
Speaker 5: you know, a pretty good typical week. Now you're starting
3:01
Speaker 5: to see articles around will there be a Santa Claus
3:03
Speaker 5: Rally this year? Which is typically the last five trading
3:06
Speaker 5: days of the year plus the first two in January.
3:11
Speaker 5: That's that's typically what people consider the Santa Claus Rally,
3:15
Speaker 5: and so people are looking forward to that talking about
3:19
Speaker 5: that when you read the read the papers or articles,
3:24
Speaker 5: and basically at the end of the year there is
3:28
Speaker 5: a trend at seventy some percent of the time the
3:30
Speaker 5: market is actually up over that period. You know, is
3:34
Speaker 5: there a reason for that? I mean, there are some
3:37
Speaker 5: last year in moves that people make that could make
3:40
Speaker 5: those those changes happen, you know, but it's not something
3:44
Speaker 5: that happens every year, so you can't really bang on it.
3:47
Speaker 5: But a lot of folks think that the way we've
3:50
Speaker 5: had the been trading this year, that it might be
3:52
Speaker 5: in the cards.
3:53
Speaker 4: And we tend to bend as a society here in
3:57
Speaker 4: America anyway, we tend to bend towards this end of
4:01
Speaker 4: year revelation thing, like we want there to be truth
4:03
Speaker 4: to there being a like something at the end of
4:06
Speaker 4: the year whatever, although it's just a calendar turning over,
4:08
Speaker 4: you know, we always want to put some meaning to
4:11
Speaker 4: the end of the year. So we look for these
4:13
Speaker 4: pattern recognition in the end of the year things to
4:15
Speaker 4: see if we get anything that comes up there. But
4:17
Speaker 4: like you said, I mean, it may may remain over there,
4:18
Speaker 4: and there.
4:19
Speaker 5: Are statistically, you know, the market is statistically up. You know,
4:24
Speaker 5: statistically it's not a huge percentage, but it's it's over
4:28
Speaker 5: those days. It's a it's a little over a one
4:30
Speaker 5: percent historically, which doesn't sound like much, but you know
4:35
Speaker 5: when you talk about over a short period of time,
4:37
Speaker 5: that's you know, statistically, I guess important.
4:40
Speaker 3: Yeah, absolutely true.
4:41
Speaker 4: Once again, if you have any questions this morning, it
4:43
Speaker 4: give us all three zero four three four five fifty
4:45
Speaker 4: eight fifty eight three zero four three four five fifty
4:46
Speaker 4: eight fifty eight. As far as again the market as
4:51
Speaker 4: a whole goes, are we back. I think I was
4:52
Speaker 4: reading last week towards the end of the week that
4:54
Speaker 4: we might be back moving more towards it's certain territory.
4:57
Speaker 4: As far as another rate cut, that is that the
4:58
Speaker 4: meeting coming up here.
5:00
Speaker 5: Yes, Winds, I think we'll know Wednesday a decision is
5:03
Speaker 5: going to be So the expectation is another quarter point cut.
5:07
Speaker 5: I think there's been some rumblings from some of the
5:09
Speaker 5: FED governors that they're reluctant, but I think the consensus
5:14
Speaker 5: is that the cut will go through.
5:15
Speaker 4: We'll go through the crazy thing at least from not
5:19
Speaker 4: what you have cautioned, because you've always been very realistic
5:21
Speaker 4: about how this works. But those cuts when it comes
5:24
Speaker 4: to like people are waiting for overall interest rates to
5:27
Speaker 4: go down because they think, oh, my mortgage rates. You know,
5:30
Speaker 4: finally I'll be able to jump all over the mortgage rate.
5:31
Speaker 4: And finally didn't really happen that way. I mean, you
5:33
Speaker 4: might say a little bit of movement, but not a ton.
5:35
Speaker 5: It hasn't brought their longer term rates down much mortgage rates,
5:39
Speaker 5: things of that nature. The FED controls the short.
5:42
Speaker 3: End of the of the.
5:44
Speaker 5: Interest rate curves, so your short term rates, which those
5:47
Speaker 5: are things your saving trades, your money markets, you know,
5:51
Speaker 5: short term CDs, things like that will be impacted. Lines
5:55
Speaker 5: of credits sometimes for businesses that are priced, that float
6:00
Speaker 5: could be affected, which could be a good thing. But
6:03
Speaker 5: longer term things, you know, financing things for fifteen years,
6:06
Speaker 5: thirty years, they're not impacted or haven't been impacted this
6:11
Speaker 5: time as much. And the reason for that is we
6:13
Speaker 5: had a very flat yield curve. Not to get too
6:17
Speaker 5: far into the weeds, but the long term rates and
6:20
Speaker 5: the short term rates there wasn't much difference between the two.
6:25
Speaker 5: And so what we're having now is the Fed is
6:27
Speaker 5: lowering the short term rate. The long term rates really
6:33
Speaker 5: aren't moving, but that is putting that natural curve back
6:36
Speaker 5: in the yield you know, the yield curve. In other words,
6:40
Speaker 5: if you invest your money long term, you would expect
6:43
Speaker 5: to get a little higher rate of return on your
6:45
Speaker 5: money because you're tying it up longer. Well, the last
6:47
Speaker 5: several years, we haven't had that. The short term rates
6:50
Speaker 5: and the long term rates were very, very similar. As
6:53
Speaker 5: a matter of fact, there were periods of time where
6:55
Speaker 5: it was inverted, where you got paid less to lock
6:57
Speaker 5: your money up for longer periods, right, and that you
7:01
Speaker 5: know that happens, but it doesn't. That's not a normal
7:06
Speaker 5: you know, a normal slope. And we're getting back to that,
7:09
Speaker 5: so the FED lowering and the longer rates staying where
7:14
Speaker 5: they are really is is putting the yield curve back
7:18
Speaker 5: into normal territory.
7:19
Speaker 4: And it's interesting thing about that because the other other
7:21
Speaker 4: way it could have gone would be for the for
7:22
Speaker 4: the long term rates to go up to establish that
7:25
Speaker 4: same yield. And so in some ways that may have
7:27
Speaker 4: been good for investors on the interest on that end,
7:30
Speaker 4: but for consumers on the interest on the other end,
7:31
Speaker 4: that wouldn't have been great.
7:32
Speaker 5: Right, And you know, there are still people that think
7:35
Speaker 5: that inflation is not fully been vanquished, and that's keeping
7:41
Speaker 5: those longer rates up too, because that's why rates are higher.
7:45
Speaker 5: If you think about inflation. When people invest in a
7:47
Speaker 5: particularly a government bond, they're not worried about whether the
7:52
Speaker 5: bond will default so much. It's I'm tying my money
7:55
Speaker 5: up for ten years in this bond. What will the
7:59
Speaker 5: dollar be worth ten years from now because of inflation?
8:02
Speaker 5: Am I getting paid enough in that bond over that
8:05
Speaker 5: period of time to account for that? So if there
8:09
Speaker 5: are if folks have inflation expectations, they're going to demand
8:14
Speaker 5: higher rates on those to lock their money up longer
8:16
Speaker 5: term because the inflation will eat away their return. And
8:21
Speaker 5: so that's why typically in an environment where inflation really
8:26
Speaker 5: has existed for you know, all of our lifetimes, generally,
8:33
Speaker 5: you know you've had that sloping yield curve because of that.
8:36
Speaker 4: I know that we've talked about this one hundred times
8:38
Speaker 4: or show before, but it seems like not a week
8:40
Speaker 4: goes by that I don't hear something about the inflation
8:43
Speaker 4: of things. And I think one of the things that
8:45
Speaker 4: makes it difficult maybe on consumer can sentiment to get
8:48
Speaker 4: by is simply what we talk about time again is
8:50
Speaker 4: that inflation is always going to be around. In a
8:52
Speaker 4: healthy economy, we target around two percent, so we know
8:55
Speaker 4: that prices are basically always want to go up. That's
8:58
Speaker 4: the way things are. They're not going to go down,
9:00
Speaker 4: and they're not going to fall, and they're not going
9:03
Speaker 4: to recapture what they were six years ago or four
9:06
Speaker 4: years ago or anything else. And unfortunately we don't want
9:09
Speaker 4: that to happen. As much as it might sound nice
9:11
Speaker 4: in a fantasy'd be like, oh, I'd love to go
9:13
Speaker 4: back to play and paying in two ninety nine a
9:15
Speaker 4: pounds for meat, which is you know, for beef, which
9:17
Speaker 4: was just what it was two or three years ago.
9:19
Speaker 4: You know, now it's like six hours about. You would
9:20
Speaker 4: love to be able to do that, but it's probably
9:22
Speaker 4: not going to happen. I mean, some commodities you can
9:24
Speaker 4: see a bending of the prices a little bit, but
9:25
Speaker 4: generally speaking, we can't give that money back now because
9:29
Speaker 4: that would be deflation.
9:31
Speaker 5: That's right, and inflation is not in a specific product
9:35
Speaker 5: so to speak, you know, because certain products move up
9:38
Speaker 5: and down all the time, but the overall direction.
9:42
Speaker 3: Of prices, yeah, you know.
9:45
Speaker 5: Be careful what you wish for if you want all
9:47
Speaker 5: of those to come down, because that would really spell
9:53
Speaker 5: more troubled and actually more inflation, which is kind of counterintuitive.
10:00
Speaker 4: My reading on this is a couple of several weeks
10:02
Speaker 4: old now, but if I remember the timing on this,
10:04
Speaker 4: I'm a huge coffee drinker, so you know I was
10:06
Speaker 4: a few months ago. Coffee prices have caused such a
10:10
Speaker 4: blip on my And I don't mean like I go
10:12
Speaker 4: to the coffee storing at coffee all the time, although
10:14
Speaker 4: I do that, but just like my at home coffee
10:16
Speaker 4: and we just do drip coffee through the thing. We
10:18
Speaker 4: don't do anything overly special unless we fund a really
10:20
Speaker 4: good deal for it, but I was tracking like some
10:23
Speaker 4: of the prices and things like that and what the
10:24
Speaker 4: expectation and stuff like that was. And it was kind
10:27
Speaker 4: of interesting because we're, if I remember the timing on
10:29
Speaker 4: this right as we're sort of in this weird period
10:31
Speaker 4: where coffee prices were spiked because of issues with crops.
10:34
Speaker 4: First of all, there was a terrible problems with crops
10:38
Speaker 4: of coffee. The terraff thing hadn't even hit yet, So
10:41
Speaker 4: the terraff thing actually did start to roll out and
10:43
Speaker 4: affect coffee prices around the same time that we started
10:48
Speaker 4: to see the coffee importers and stuff start to see
10:50
Speaker 4: a little loosening of the bad crops and things along
10:52
Speaker 4: those lines. But one rolled right into the other. So
10:55
Speaker 4: then when the tariffs now have been sort of pushed
10:58
Speaker 4: back on coffee, we're never going to set the price
11:00
Speaker 4: decreased there because there had been different things that were
11:03
Speaker 4: informing the price. And it wasn't just tariffs to start with.
11:06
Speaker 4: In fact, it wasn't at all. I had to do
11:07
Speaker 4: with a bad crop. Then it was teriffs, and now
11:09
Speaker 4: the tarffs are gone, but the tarts were baked in
11:11
Speaker 4: for so long that we're still paying for those. Now,
11:14
Speaker 4: it's crazy how that works. It's not a straight line
11:16
Speaker 4: at all.
11:17
Speaker 3: No.
11:17
Speaker 5: No, Like you say, you get some price fluctuations and commodities,
11:21
Speaker 5: and you know, over time you would expect certain things
11:24
Speaker 5: because of efficiencies, to go down in price. Commodities not
11:30
Speaker 5: so much, right yeah, right, since, but you know, manifacting
11:33
Speaker 5: goods like computers, washers, refrigerators, things like that, you know,
11:37
Speaker 5: you would expect those to become more efficiently produced over time,
11:41
Speaker 5: which they have. You know, they're they're more expensive in dollars,
11:45
Speaker 5: but they're less expensive than they used to be in
11:47
Speaker 5: our labor that we have to you know, spend at
11:50
Speaker 5: our jobs earning the money to buy those things in
11:54
Speaker 5: labor hours. They're they're much cheaper than they used to be,
11:57
Speaker 5: but the dollar value has has risen. And and that's
12:01
Speaker 5: you know, that's how things almost need to be to
12:05
Speaker 5: support just the way things are financed in the world
12:10
Speaker 5: and the investments that are made. You know, with without
12:14
Speaker 5: with the deflationary environment that that goes too fast, where
12:18
Speaker 5: it's the actual dollar of of those items going down.
12:22
Speaker 5: It's hard to pay back uh loans, it's hard to
12:26
Speaker 5: you know, it's hard to finance new factories. And new
12:29
Speaker 5: UH new new innovations.
12:31
Speaker 3: UH. If if you have a an.
12:34
Speaker 5: Environment where the cost of those the price of those
12:36
Speaker 5: goods continues to fall, you know who's going to invest
12:40
Speaker 5: in that equipment and who's going to invest in in
12:43
Speaker 5: taking a chance to build out a production facility or factory.
12:49
Speaker 5: That's a tough environment, and that's that's essentially what happened
12:53
Speaker 5: in the Great Depression.
12:54
Speaker 4: We're going to be transitioning to talk a little bit
12:56
Speaker 4: about some of the potential UH financial planning topics that
13:00
Speaker 4: you can tackle at different stages of your life. If
13:01
Speaker 4: you have any questions along those lines, just in general
13:04
Speaker 4: about how you can be steered in the right direction,
13:06
Speaker 4: you're welcome to give us a call. We'll take a
13:07
Speaker 4: break here in just a moment, and we'll come back
13:08
Speaker 4: with your phone calls. Somebody gives us a call three
13:10
Speaker 4: zero four three four five fifty eight fifty eight three
13:12
Speaker 4: zeror a four three four five fifty to fifty eight.
13:13
Speaker 4: You can also texting your questions. We've got quite a
13:15
Speaker 4: few of those recently. Threes are four non three five
13:17
Speaker 4: five zero zero eighth. Threes are a four non three
13:20
Speaker 4: five five zero zero eight. If you would like to
13:22
Speaker 4: get through to talk to Joen bre Debt from Fourth
13:23
Speaker 4: Avenue Financial. It is, it's really incredible when you just
13:27
Speaker 4: when you observe these things and over the long term time,
13:31
Speaker 4: when major things happen behind that, like when we start
13:35
Speaker 4: seeing things like does it matter that much to the
13:37
Speaker 4: consumer rent of the market, to like clients of yours
13:40
Speaker 4: when you see like consolidation of industries. You know, we're
13:42
Speaker 4: starting to see media being consolidated hugely. Now you know
13:46
Speaker 4: Netflix now bought HBO. That whole thing is going to
13:48
Speaker 4: be going to be into one package, you know, I mean,
13:54
Speaker 4: obstensibly it doesn't make much of a sense. Who's turning
13:56
Speaker 4: out stranger things?
13:57
Speaker 6: You know?
13:57
Speaker 4: I mean, you know, I mean that that doesn't necessarily
14:00
Speaker 4: mean a lot, But there is something to be said
14:02
Speaker 4: for what does that do to the market. Is it
14:05
Speaker 4: make it top heavy? You know, you start putting a
14:07
Speaker 4: lot of marbles in three or four baskets instead of
14:09
Speaker 4: fifty baskets, And what is that going to do to us?
14:12
Speaker 2: Yeah?
14:13
Speaker 5: You know, generally larger companies can produce more efficiently because
14:18
Speaker 5: they have you know, greater spread and greater control over
14:22
Speaker 5: the whole process. But competition also is valuable and makes
14:28
Speaker 5: companies better, makes them you know, you have to be competitive,
14:31
Speaker 5: so you have to put out the better product at
14:33
Speaker 5: the right price. And so healthy competition is really what
14:36
Speaker 5: drives things forward. It's just somewhat of a balancing act.
14:40
Speaker 5: I mean, the nature of things is to get bigger,
14:43
Speaker 5: to try to become more efficient. I mean, that's what
14:45
Speaker 5: a business is trying to do. How do we deliver
14:48
Speaker 5: the goods to the to the consumer profitably, but at
14:53
Speaker 5: the most competitive and the best price possible or highest quality.
14:56
Speaker 5: I mean, that's what you try to do. If you're
14:58
Speaker 5: a business, You're not trying to put a lousy product out.
15:02
Speaker 5: You know, competition says otherwise, and so you want competition.
15:06
Speaker 5: So you know, I don't know enough about the media
15:09
Speaker 5: industry to know if this makes it top heavy or not.
15:13
Speaker 5: I will say that some streamlining might might make it
15:17
Speaker 5: less confusing where to where to you know, get certain
15:22
Speaker 5: programs and things. You know, in our day you had
15:27
Speaker 5: you know, a few channels and everybody watched the same thing.
15:30
Speaker 5: And you know, it's nice to have variety. But the
15:33
Speaker 5: way it is now, you know, you've got to pay
15:35
Speaker 5: fifteen different streaming services.
15:37
Speaker 3: It'd be nice to pay too.
15:39
Speaker 4: This is this is this is always the thing with technology.
15:42
Speaker 4: And I know that I've mentioned on the show before,
15:43
Speaker 4: and I'm sure there's like a word for it in
15:45
Speaker 4: economic theory, but there's there's a point when a service
15:48
Speaker 4: is that it's maximum use to the consumer and they
15:51
Speaker 4: get a good value out of it, right, And that's
15:53
Speaker 4: not the point. That's not the endpoint, unfortunately. The endpoint
15:56
Speaker 4: is when they take that product that people are hooked
15:58
Speaker 4: to and then they find ways to maximize the monetization
16:01
Speaker 4: of it. Sometimes in the max maxim and mixing out
16:04
Speaker 4: to the money that you can make from it, sometimes
16:06
Speaker 4: you get efficiency. Sometimes you lose some of what made
16:09
Speaker 4: it so good. And it seems like that's what happens
16:11
Speaker 4: to us a lot, is that that we lose some
16:13
Speaker 4: some in that in that sort of narrative that takes place, right, and.
16:17
Speaker 5: Then in a competitive market, what happens in that condition
16:21
Speaker 5: is it opens opportunity for another business to come and
16:24
Speaker 5: solve that problem.
16:25
Speaker 4: Again, makes a lot of sense. Let's do this. We're
16:27
Speaker 4: going to talk a lot about planning in the different
16:29
Speaker 4: stages of your life. We have this broken down into
16:31
Speaker 4: different things and we'll kind of pick through here for
16:33
Speaker 4: John to give out some stage advice, but it doesn't.
16:36
Speaker 4: What helps the most is when you give us a call.
16:37
Speaker 4: We can target exactly what you want to talk about,
16:39
Speaker 4: and you could do that by calling three zero four
16:41
Speaker 4: three four five fifty eight fifty eight. You can also
16:43
Speaker 4: text Z zero four nine three five five zero zero eight.
16:45
Speaker 4: We'll take a break and be back right after this.
16:46
Speaker 4: You're listening to a retire Right Radio. John Burdett is
16:49
Speaker 4: here from Fourth Avenue Financial. I'm Del Cooper and this
16:51
Speaker 4: is five ADWHS the voice of Charleston.
16:53
Speaker 7: Retire Right Radio a sponsored by Fourth Avenue Financial, which
16:55
Speaker 7: is solely responsible for its content. Security is offered through
16:58
Speaker 7: JW CALL Financial Member HU and Recipic Investment advice offered
17:01
Speaker 7: through JW CO Advisors. Fourth Avenue Financial, JW COL Financial
17:05
Speaker 7: and JW COL Advisors are unaffiliated entities. The opinions expressed
17:09
Speaker 7: by John Burdett should not be construed as specific investment, legal,
17:12
Speaker 7: or tax advice. All economic and performance information is historical
17:15
Speaker 7: and not indicative of future results. Investing may involve risk
17:19
Speaker 7: of loss of principle. Any tax advice on this show
17:22
Speaker 7: is not intended to be used by any person for
17:23
Speaker 7: the purpose of avoiding US federal or state tax penalties
17:27
Speaker 7: that may be imposed on such a person, and each
17:29
Speaker 7: listener should seek advice from their tax advisor or legal
17:33
Speaker 7: console on topics that arise from the show. John Burdett
17:36
Speaker 7: is not providing legal or tax advice. Nothing should be
17:38
Speaker 7: construed as solicitation of an offer to buy securities. This
17:41
Speaker 7: program is sponsored by Fourth Avenue Financial, which is solely
17:44
Speaker 7: responsible for its content.
17:46
Speaker 5: As you shop for others, Fourth Avenue Financial invites you
17:49
Speaker 5: to give yourself the gift of professional financial planning. What
17:52
Speaker 5: better way to start the new year the consolidating old
17:55
Speaker 5: four onks, examining your current investments and preparing for retirement.
18:00
Speaker 5: Call me jobber Dad at three zero four seven four
18:03
Speaker 5: six seven nine seven seven or contact us at Fourth
18:07
Speaker 5: Avenue Financial dot com.
18:08
Speaker 2: Security offer Throughjnebe Financial Incorporated. Member Fatacific Advisory Services offer
18:11
Speaker 2: through gnabu CoA Advisors Incorporated, Jawco Financial, Jabcadvisors, Fourth Avenue Financial,
18:15
Speaker 2: or unaffiliated entities.
18:16
Speaker 6: Stuck in a job that just isn't getting it done,
18:19
Speaker 6: maybe it's time to go for it. Whether you're just
18:22
Speaker 6: starting out, switching careers, or a military veteran ready for change,
18:25
Speaker 6: my Computer Career can help you launch a rewarding career
18:28
Speaker 6: in it in months, no prior experience needed. Why spend
18:31
Speaker 6: years getting a traditional degree when your future and it
18:34
Speaker 6: can start right now. Take the free career evaluation at
18:37
Speaker 6: my Computer Career dot edu. Today your most powerful.
18:40
Speaker 2: Upgrade your career.
18:41
Speaker 6: Go for it.
18:42
Speaker 2: Go for it.
18:43
Speaker 6: Financial aid is available to those who qualify, including via benefits.
18:48
Speaker 2: This update is brought to you by Fourth Avenue Financial.
18:51
Speaker 2: A good retirement takes planning. Let's get started today.
18:56
Speaker 8: Good morning, here's your traffic update. There's a vehicle crash
18:59
Speaker 8: on US sixty sixty five hundred block of mccorkorol Avenue
19:02
Speaker 8: southwest and Saint Albans. Congestion and delays on I sixty
19:06
Speaker 8: four east at mile marker fifty eight at Virginia Street.
19:09
Speaker 8: Paving operation on I sixty four east at milemarker forty
19:12
Speaker 8: three to mile marker forty five at Saint Albans and
19:15
Speaker 8: in Boone County Bridge work on US one nineteen north
19:18
Speaker 8: and south at West Virginia eighty five to mile marker twelve.
19:22
Speaker 8: I'm Chapelin the WHS Network Traffic Studio.
19:26
Speaker 2: This is retire Rife Radio with John Burdett from Fourth
19:30
Speaker 2: Avenue Financial taking your calls at three oh four, three
19:34
Speaker 2: four five fifty eight fifty eight or texts on three
19:37
Speaker 2: oh four nine three five fifty oh eight.
19:47
Speaker 3: Come in to me in the main and then leaving nine.
19:53
Speaker 4: It's fifteen minutes to the top of the hour. You're
19:55
Speaker 4: listening to the boys Charleston favetwchs. This is retire Right Radio.
19:59
Speaker 4: Give to call this morning if you have any questions
20:01
Speaker 4: for John Bredet from Fourth Avenue Financial, Fourth Avenue Financial,
20:03
Speaker 4: Fourth Avenue Financial dot Com, located one seventy Court Street
20:06
Speaker 4: here in downtown Charles, and I give you more contact
20:08
Speaker 4: information before we get out of here today that you
20:10
Speaker 4: can find fourth Avenue Financial one line, fourth Avenue Financial
20:12
Speaker 4: dot com and you can get a hold of jen
20:15
Speaker 4: Bre debt for the next fifteen minutes or so right today.
20:17
Speaker 4: But you can find fourth Avenue Financial one line, fourth
20:19
Speaker 4: Avenue Financial dot com and you can get a hold
20:21
Speaker 4: of jen Bre debt for the next fifteen minutes or
20:23
Speaker 4: so right here at three zero four, three four five
20:25
Speaker 4: fifty eight fifty eight three four five fifty fifty. We
20:27
Speaker 4: did want to talk about investing financial planning for different
20:31
Speaker 4: stages in life, and we talk about a lot of
20:33
Speaker 4: different a lot of different things on here. And we've
20:35
Speaker 4: talked about like the sort of the youth move or
20:37
Speaker 4: not the youth movement. But when you're younger and you're
20:40
Speaker 4: wanting to invest, there's certain strategies that you can you
20:43
Speaker 4: can deploy from that I wanted. I want to get
20:45
Speaker 4: to like our a little later in life. But when
20:47
Speaker 4: we start talking about folks that are in their twenties
20:49
Speaker 4: and thirties, what to you is the one or two
20:52
Speaker 4: top things that they need to be aware of that.
20:54
Speaker 5: They're best practices in all through life. There are different
20:57
Speaker 5: stages that people tend to go through and different topics
21:01
Speaker 5: that are important to them. You know, I certainly see
21:04
Speaker 5: that working with folks. But you know, when you're young,
21:07
Speaker 5: you're forming your house, you're making this big decisions and
21:11
Speaker 5: a lot of it involves taking on debt and so.
21:14
Speaker 3: Being very.
21:18
Speaker 5: Knowledgeable about Okay, does this make sense to take this
21:22
Speaker 5: debt on? Is this something that how will it affect
21:24
Speaker 5: me in the future? Because the foundation you lay as
21:28
Speaker 5: you start out, you know, when you know the name
21:31
Speaker 5: of the show is retire, right, So typically we're talking about,
21:34
Speaker 5: you know, issues of folks that are you know, nearing retirement.
21:38
Speaker 5: But if you get your twenties right, you know, it's
21:41
Speaker 5: so easy to retire right. And it's it's those big decisions.
21:45
Speaker 5: You know, what kind of career are you going to
21:47
Speaker 5: go into and what are the benefits going to be
21:51
Speaker 5: to that? How do I have a retirement plan? Am
21:55
Speaker 5: I controlling my consumer debt? You know, buying too much
21:58
Speaker 5: of a house? You know a lot of people like
22:00
Speaker 5: you say, can afford a house, but is it the
22:02
Speaker 5: house you should afford? You know, making sure that you
22:06
Speaker 5: set a foundation up so that you have the ability
22:10
Speaker 5: as you get into your thirties and more into the
22:12
Speaker 5: meat of your career that you're not burdened paying off
22:17
Speaker 5: too many things so that you can now make progress
22:20
Speaker 5: on the investment front. And that's the big thing when
22:23
Speaker 5: you start out. Just just don't overextend yourself, you know,
22:26
Speaker 5: be very prudent with those decisions and thoughtful about taking
22:31
Speaker 5: on those debts that that can strap you down and
22:36
Speaker 5: you know put you you know, it might say, well
22:38
Speaker 5: that's only a five year loan, yes, but with the
22:41
Speaker 5: way compound interest works, it might it might take away
22:44
Speaker 5: ten or fifteen years of productive asset growth.
22:48
Speaker 4: A little hardened. And you talk about this on the
22:50
Speaker 4: program a lot and talking about for young folks. Well,
22:53
Speaker 4: for one thing, you've seen where the medium age of
22:56
Speaker 4: a home buyer has skyrocketed in the last couple decades.
22:59
Speaker 4: I mean, it used to be in what the early thirties,
23:01
Speaker 4: I think, late twenties, early thirties, and now it's in
23:03
Speaker 4: the early fifties.
23:06
Speaker 3: It's ridiculous.
23:07
Speaker 4: It's it's been decades, shifted about, like two or three
23:09
Speaker 4: decades as far as the medium homeowner goes. I mean,
23:12
Speaker 4: it's incredible, but I am I am kind of heartened
23:16
Speaker 4: to see. I kind of stumbled on this calculus by
23:18
Speaker 4: myself in the in the like the late nineties, in
23:21
Speaker 4: the early two thousands, where when I worked to get
23:23
Speaker 4: out of debt, I did it better when I didn't
23:25
Speaker 4: own a home. I was renting, and I didn't have
23:26
Speaker 4: all of those other pressures on me at the time.
23:29
Speaker 4: And I see now that there's more and more articles
23:32
Speaker 4: being written, more takes being that you know, maybe home
23:36
Speaker 4: ownership isn't the first thing that you need to look into,
23:38
Speaker 4: like the moment that you get become independent or whatever
23:40
Speaker 4: it is. When I was growing up that was always
23:42
Speaker 4: the thing that everybody said, Well, you got to get
23:43
Speaker 4: your house because that's the number one investment you're ever
23:45
Speaker 4: going to make.
23:45
Speaker 5: Well, you have to also remember at our age, our
23:49
Speaker 5: parents were buying homes in the huge inflation area seventies,
23:53
Speaker 5: when you know, you wanted to get your name on
23:55
Speaker 5: a deed because the prices were rising so fast and
23:59
Speaker 5: they that that you took on was getting smaller and
24:02
Speaker 5: smaller because of the devaluation of the dollar. So that
24:05
Speaker 5: was an era that that's why we got that advice
24:08
Speaker 5: because it made a whole lot of sense in that
24:11
Speaker 5: time period. But times change, and you know, is it
24:16
Speaker 5: good to buy a house, Yes, but only if you're settled.
24:19
Speaker 5: You know, if you're buying a house and then you're
24:22
Speaker 5: twenty four years old, twenty five years old and your
24:25
Speaker 5: job changes and you you know, moved to wherever, that
24:30
Speaker 5: might not have been a good decision. So, you know,
24:34
Speaker 5: home ownership is a is a great thing, but home
24:36
Speaker 5: ownership is not an investment. It really is an investment.
24:41
Speaker 3: It is a.
24:43
Speaker 5: You know, it can be an important thing financially, but
24:46
Speaker 5: it's not a productive asset that you need to retire on, right,
24:51
Speaker 5: you know. It Essentially, what owning a home does is
24:54
Speaker 5: that locks in your shelter costs to a degree where
24:59
Speaker 5: rent continues to escalate. If you buy a home, you've
25:02
Speaker 5: locked in so within if inflation happens, you're somewhat shielded
25:06
Speaker 5: from that in that shelter.
25:10
Speaker 4: Box, which you know, like for me, that's exactly what
25:13
Speaker 4: I experience right now, which is great to some degree
25:15
Speaker 4: because my mortgage payment is so low. I mean, I'm
25:17
Speaker 4: ten years away from paying it off now and my
25:19
Speaker 4: mortgage payment is incredibly low compared to today's environment. What
25:22
Speaker 4: that also does is it locks me to a point
25:24
Speaker 4: where I have to be super confident with any move
25:26
Speaker 4: that I want to make because I can't reap I
25:28
Speaker 4: can't replicate this environment, you know, I can't get this
25:31
Speaker 4: low of a payment again. So sure, it's very difficult
25:33
Speaker 4: for me to look to get out of that because
25:35
Speaker 4: it's just so low.
25:36
Speaker 5: You know, it's hard to get out of that right
25:38
Speaker 5: and and certainly over the last several years where now
25:42
Speaker 5: we've had several years where people got three percent mortgages.
25:46
Speaker 5: You know, it's tough to lock away and say hey,
25:48
Speaker 5: I'm going to do a six and a half.
25:49
Speaker 4: Now it's exactly me, right, Yeah, I'm under four percent
25:52
Speaker 4: and have ten years left on it. Man, I'm you know,
25:54
Speaker 4: I don't have a whole lot of places I can
25:56
Speaker 4: go to for to make sense.
25:57
Speaker 5: So I think I think that also is as made
26:00
Speaker 5: the market in the real estate, you know, environment the
26:03
Speaker 5: way it is, there's less movement because of that.
26:06
Speaker 4: Yeah, that makes a lot of sense. Once you whatever
26:09
Speaker 4: you do in your in your early earlier days, in
26:11
Speaker 4: your early twenties and thirties, and you're trying to kind
26:14
Speaker 4: of find your way. Not everybody gets established by their
26:16
Speaker 4: mid thirties, but if you're on that path where you
26:19
Speaker 4: start at least if you're making if your earning potential
26:22
Speaker 4: has gone up by your mid mid thirties, while you're
26:24
Speaker 4: in your thirties and getting into your forties to your fifties,
26:27
Speaker 4: that's when you really need to start socking away your
26:29
Speaker 4: money and to allow that work, that money to do
26:32
Speaker 4: some work for you, because that's going to be some
26:34
Speaker 4: real earning potential that you have in right.
26:36
Speaker 5: I mean generally, as you get into your thirties, you're
26:38
Speaker 5: starting to have children, things of that nature. Your expenses
26:41
Speaker 5: are certainly not lower no during that, but you still
26:46
Speaker 5: need to you know, focus on living below your means,
26:51
Speaker 5: so you're creating some level of savings. Now usually at
26:54
Speaker 5: that era you probably can't max everything out because you
26:57
Speaker 5: have those expenses, but hopefully you're you're still making productive investments.
27:03
Speaker 5: You know, if you're working with an employer, make sure
27:06
Speaker 5: you participate enough to get the free match, you know,
27:09
Speaker 5: things of that nature. And then typically after you know,
27:14
Speaker 5: over time your wages rise into your fifties, they tend
27:17
Speaker 5: to peak and then once you get to there, you realize, hey,
27:22
Speaker 5: the expenses of the children are getting to be in
27:25
Speaker 5: the rear view mirror. You know, that's where you know
27:28
Speaker 5: a lot of folks then buckle down and say, okay,
27:32
Speaker 5: I need to max these plans out. I need to
27:34
Speaker 5: fully fund these things because retirement is a lot closer
27:38
Speaker 5: than it used to be. And so that transition is
27:41
Speaker 5: is you know, typically how the investment and saving cycle works,
27:47
Speaker 5: but there are you know, certainly cases that are much
27:51
Speaker 5: different than that.
27:52
Speaker 3: But that's that's the typical cycle.
27:54
Speaker 4: It's just fascinating as you start working away through these
27:56
Speaker 4: and you really have to have you know the perspective
27:59
Speaker 4: of distance to the horizon. I mean, you should start
28:03
Speaker 4: being aware of health care needs and things along those lines.
28:06
Speaker 4: You shouldn't wait until you're five years from retirement. You
28:08
Speaker 4: really need to start looking at those things. What your
28:11
Speaker 4: potential health care needs in retirement's going to be. I mean,
28:14
Speaker 4: once you enter into that phase of your life, into
28:16
Speaker 4: the fifties or whatever it might be, you really need
28:18
Speaker 4: to start looking at that, seeing what it is that
28:19
Speaker 4: you're going to need.
28:20
Speaker 5: Yeah, you know, even things like long term care. I
28:23
Speaker 5: mean that's a big issue and a big expense. You know,
28:27
Speaker 5: if you wait until you're seventy to think about that,
28:31
Speaker 5: it's too late to take advantage of some of those options.
28:36
Speaker 4: Yeah, I mean, and that's hugely x men. We've talked
28:38
Speaker 4: about it on the show before. You've had folks come
28:40
Speaker 4: in to help talk about that. Years ago, we used
28:43
Speaker 4: to do programs about what to happen when you need
28:46
Speaker 4: long term care and things like that, and it is
28:48
Speaker 4: I mean, frankly, if you don't have it planned for
28:51
Speaker 4: you to get any help at all, you have to
28:53
Speaker 4: basically make yourself destitute. I mean, there's ways to get
28:56
Speaker 4: around it to try to keep it from being so impactful,
28:59
Speaker 4: but even that work for somebody who might be in
29:01
Speaker 4: their sixties or seventies or something like that. And plus
29:03
Speaker 4: you have to look back period and everything else. You
29:06
Speaker 4: need to get that stuff resolved and taken care of
29:08
Speaker 4: before the moment comes or I mean the situation that
29:10
Speaker 4: you can find yourself is not great.
29:12
Speaker 5: Right, And things like estate planning. People hear the word
29:16
Speaker 5: of state planning a lot of times you think, oh,
29:18
Speaker 5: that's for death planning. Yeah, that's for older people. Well, no,
29:22
Speaker 5: what you know, if you're thirty years old and have
29:24
Speaker 5: two kids, you know you have to think about the unthinkable,
29:29
Speaker 5: you know, the things that are unpleasant to think about
29:32
Speaker 5: what happens if this happens. You know, you want to
29:35
Speaker 5: have a plan in place to make you know, the
29:38
Speaker 5: the unfortunate things that can happen, you know, easier to
29:43
Speaker 5: navigate for your family. Yeah, and it's it's just those
29:46
Speaker 5: are foundational things and I think that's that's the thing
29:50
Speaker 5: that working with someone like me can can help with.
29:55
Speaker 5: It's like, hey, have you thought about this? This is
29:57
Speaker 5: important at this stage of life. You know, things that
30:01
Speaker 5: not necessarily novel, but there are things that are easy
30:03
Speaker 5: to leave off the checklist of things to do because
30:06
Speaker 5: it's it's.
30:07
Speaker 4: Oh, that's not that doesn't mean me I'm assuming and
30:12
Speaker 4: I don't know this for sure to be true. But
30:14
Speaker 4: another real benefit of having a financial advisors at a
30:18
Speaker 4: planner that you that you can go off of is
30:21
Speaker 4: some people like when you start transitions to start talking
30:24
Speaker 4: about past midlife transitions or things long. Some people don't
30:27
Speaker 4: like calling themselves certain things.
30:29
Speaker 5: You know.
30:29
Speaker 4: So I mean, and I don't mean this to be funny,
30:32
Speaker 4: but I've known people in my life that are like grandparents,
30:36
Speaker 4: for example, and they don't like me and called grandparents.
30:39
Speaker 4: It's like, you have grandkids, you're a you know, I mean,
30:42
Speaker 4: I don't know what else you want me to call you,
30:44
Speaker 4: you know, it's like and it's not I say that
30:46
Speaker 4: sort of be funny. But at the same time, if
30:48
Speaker 4: people have like mental blocks are like well I'm not
30:51
Speaker 4: getting that close to retirement, I'm only fifty two years old,
30:54
Speaker 4: or you know, whatever it might be, it helps to
30:56
Speaker 4: get past some of those barriers by talking to someone
30:57
Speaker 4: who's a professional in this and this, in these things.
31:00
Speaker 5: Yeah, yeah, you can still live young, but you gotta
31:03
Speaker 5: got it's.
31:04
Speaker 4: A great point. You gotta you gotta plan like you're old,
31:06
Speaker 4: but you can live as young as you want, right.
31:08
Speaker 4: But I think there's a lot of there's a little
31:10
Speaker 4: bit of truth of that, because I see some pushback
31:12
Speaker 4: when people like they think that if they're they're being uh,
31:16
Speaker 4: if they're being concentious of their retirement, that they're somehow
31:19
Speaker 4: pushing themselves to be an older And it's like, that's
31:21
Speaker 4: not the way it works. You know, you can't make
31:23
Speaker 4: yourself get older just because you're paying attention to it.
31:25
Speaker 5: Yeah, it's not uh, you know, you don't want to
31:28
Speaker 5: you know, put your head in the sand. I mean,
31:31
Speaker 5: you want to be aware of these things. That's called
31:32
Speaker 5: being an adult, right, right, But you can still have fun.
31:37
Speaker 4: And as far as uh as you know, obviously, when
31:40
Speaker 4: when you do get to that area where you're kind
31:42
Speaker 4: of your midlife and the kids might be in the
31:44
Speaker 4: back in the rear view mirror, that's really when some
31:47
Speaker 4: people might take their foot off the pedal a little bit.
31:49
Speaker 4: And if you planned right, maybe you could do that.
31:50
Speaker 4: Maybe you can vacation a little bit more and at
31:52
Speaker 4: the same time still fund your retirement. But also maybe
31:55
Speaker 4: if you fell behind a little bit because you were
31:56
Speaker 4: putting your kids through school, because you're doing all these things,
31:59
Speaker 4: that might be the time to double down now you know, yeah,
32:01
Speaker 4: you can do it.
32:01
Speaker 5: That's the time to catch up. And that's why the uh,
32:05
Speaker 5: the IRS has the ketchup provisions in the in the
32:09
Speaker 5: retirement Code. After your fifty you know, your limits go
32:12
Speaker 5: up on your on your makes sense right kind of
32:14
Speaker 5: savings and your your iras things of that nature. You
32:18
Speaker 5: can save more. The government allows you to save more,
32:21
Speaker 5: so you so you can catch up. Because it's just
32:23
Speaker 5: the life cycle. I mean, that's you know, you need
32:27
Speaker 5: to be saving from the start of your career something
32:31
Speaker 5: and and building those habits. But you know at some
32:34
Speaker 5: point in your career you're going to have peak earnings
32:36
Speaker 5: and less expensive expenses and that's that's where you can
32:40
Speaker 5: do that catch up.
32:41
Speaker 4: Yeah, that's uh. And it makes a lot of sense.
32:44
Speaker 4: I mean when you think about how all those pieces
32:45
Speaker 4: fit together as a whole, that really does make a
32:47
Speaker 4: lot of sense. And that and that's one of the
32:49
Speaker 4: things that dovetails nicely into the last stage of our
32:51
Speaker 4: conversation there is there are things you can do once
32:53
Speaker 4: you reach certain ages, and there's certain bitchmarks and you're
32:56
Speaker 4: preparing for your retirement, take advantage of all of those
32:59
Speaker 4: because suddenly there's keys to a different kingdom that open
33:02
Speaker 4: up to you.
33:02
Speaker 2: Now.
33:03
Speaker 5: Now, the problem is when you get to that stage
33:06
Speaker 5: where you have the lower expenses and are able to save,
33:09
Speaker 5: You're only able to do that if you put the
33:12
Speaker 5: right foundation in when you're in your twenties and thirties,
33:15
Speaker 5: because if you're digging out of a hole, you might
33:17
Speaker 5: have money to dig out of the hole that you
33:21
Speaker 5: created when you were younger, but you're not building productive
33:24
Speaker 5: assets going forward until you get those things cleared up.
33:27
Speaker 5: So you know, it is a lifelong process. And the
33:31
Speaker 5: more you can, you know, stay true to that process
33:36
Speaker 5: and plan, the easier it is all along the way,
33:40
Speaker 5: every step of the way, and every transition of life.
33:42
Speaker 4: Well, I think over time that the years we've done
33:44
Speaker 4: this program here on retire I write Radio with John
33:46
Speaker 4: or Debt, we find that whatever the long will have
33:50
Speaker 4: been towards the topics that we talk about and John's
33:53
Speaker 4: analysis of them pretty much always play out to fruition.
33:55
Speaker 4: You know, during the darker times during COVID and when
33:59
Speaker 4: things didn't look great, give it Tom, give it toime,
34:02
Speaker 4: you know, give it time. When you start zooming out
34:05
Speaker 4: a little bit more things look okay, you know. That's
34:08
Speaker 4: the way that it always works. There's strategies you deploy
34:11
Speaker 4: within and of course it's not easy. That's the reason
34:13
Speaker 4: you need someone like John Ordebt to help you navigate
34:15
Speaker 4: through it. But navigate through it you can do. Three
34:17
Speaker 4: zero four seven four six seven nine seven seven is
34:19
Speaker 4: John's number three zero four seven four six seven nine
34:22
Speaker 4: seven seven for Fourth Avenue Financial located one seven in
34:25
Speaker 4: Court Street right here in downtown Charleston. Again three zero
34:27
Speaker 4: four seven four six seven nine seven seven. On line,
34:30
Speaker 4: it's fourth Avenue Financial dot com. Fourth Avenue Financial dot com.
34:33
Speaker 4: You can you can loot up the web page. You
34:35
Speaker 4: can also do that same search on Facebook and find
34:38
Speaker 4: it on Facebook as well. Very easy to get a
34:40
Speaker 4: hold of Giant. You can contact him. Your initial consultation
34:43
Speaker 4: is without commitment or cost, so you can just give
34:46
Speaker 4: John a call and see how he can help me out.
34:48
Speaker 3: Yep, but well you covered all the bases.
34:50
Speaker 2: Not try.
34:51
Speaker 4: We've been doing this for a little while, all right,
34:53
Speaker 4: Everything going to okay over at Venders Revines.
34:55
Speaker 5: Oh yeah, it's been real busy and we're starting a
34:59
Speaker 5: new record free Vinyl Friday. What on the Mountain. Yeah,
35:03
Speaker 5: So if you listen listen over there, you can pick
35:05
Speaker 5: up some uh uh free records every Friday.
35:08
Speaker 4: Don't tell Weekly about it, he'll be all about that.
35:10
Speaker 4: Avenge and Vin's over South Charleson. Really, as you're shopping
35:13
Speaker 4: around for the holiday, a great place to go for
35:14
Speaker 4: for