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

Transcript

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

• 0:00
  Speaker 1: The views and opinions expressed on this program do not
• 0:02
  Speaker 1: necessarily reflect the views and opinions of five ADWCHS, its employees,
• 0:07
  Speaker 1: or WVRC Media. This is retire Right Radio, a weekly
• 0:12
  Speaker 1: show from John Verdett at Fourth Avenue Financial that aims
• 0:15
  Speaker 1: to answer your questions about financial planning, investing, and how
• 0:19
  Speaker 1: to retire right. Fourth Avenue Financial is located in downtown
• 0:23
  Speaker 1: Charleston at one seventy Court Street. More information online at
• 0:27
  Speaker 1: Fourth Avenue Financial dot com. Join the conversation by calling
• 0:31
  Speaker 1: three oh four three four five fifty eight fifty eight
• 0:34
  Speaker 1: or text three oh four nine three five fifty oh eight.
• 0:38
  Speaker 1: On retire Right Radio, Let's go live to the studio
• 0:42
  Speaker 1: with host Dale Cooper and John Burdett from Fourth Avenue Financial.
• 0:45
  Speaker 2: Hilda, and a very pleasantive morning to you. Congratulations you
• 0:50
  Speaker 2: made it through Monday, and it's amazing we didn't have
• 0:53
  Speaker 2: any major weather this weekend as far as we didn't
• 0:55
  Speaker 2: have any ice or snow or anything along those lines.
• 0:58
  Speaker 3: But man, that's still cold and icy outside.
• 1:01
  Speaker 2: I mean just about everywhere you go. There's still some
• 1:04
  Speaker 2: some ice somewhere.
• 1:05
  Speaker 4: You know.
• 1:05
  Speaker 2: The roads are pretty fine for the most part of
• 1:06
  Speaker 2: the main roads. Anyway, the side roads in some of
• 1:09
  Speaker 2: the towns and stuff are still pretty pretty icy. Over
• 1:11
  Speaker 2: in Canal City, man, you can still go ice skating
• 1:13
  Speaker 2: down some of those streets are pretty bad. John Burdett
• 1:16
  Speaker 2: is with us this morning. It is time for a
• 1:17
  Speaker 2: retire Right Radio. John, Good morning, Ho got you doing
• 1:19
  Speaker 2: this morning?
• 1:19
  Speaker 4: I'm doing great, glad to be here.
• 1:21
  Speaker 2: I'm glad you skated in or skied in or drove in,
• 1:23
  Speaker 2: or however you got here. I'm glad you made it here.
• 1:25
  Speaker 4: We're dodging the tree branches that are still in the road,
• 1:28
  Speaker 4: you know.
• 1:29
  Speaker 2: And they're frozen in the road, and so it's not
• 1:30
  Speaker 2: like they're going to move, and some of them are
• 1:32
  Speaker 2: jutting up. That's another thing you notice there, is that
• 1:34
  Speaker 2: there's all these things that the ice frozen to place
• 1:37
  Speaker 2: that you can't move as well. But regardless, I think
• 1:39
  Speaker 2: we're gonna have some warmer weather a little bit later
• 1:41
  Speaker 2: in the week at some point, so hopefully we'll get
• 1:43
  Speaker 2: a little bit of a melt no flooding, but a
• 1:44
  Speaker 2: little bit of a melt on hopefully coming up later
• 1:47
  Speaker 2: in the week. This is retire Right Radio on a Monday,
• 1:49
  Speaker 2: every Monday, right here at eight twenty on five atdwc HS.
• 1:52
  Speaker 2: It's retire Right Radio with John Bredett from Fourth Avenue
• 1:54
  Speaker 2: Financial pre information online Fourth Avenue Financial dot com. You
• 1:57
  Speaker 2: spell out the whole thing Fourth Avenue Financial and you
• 1:59
  Speaker 2: can do that same search over on Facebook and you
• 2:01
  Speaker 2: can like the page over there. John Burdett with Fourth
• 2:03
  Speaker 2: Avenue Financial and it's with us every Monday morning, located
• 2:07
  Speaker 2: in downtown Charles and we'll give you all the rest
• 2:09
  Speaker 2: of the information before we get out of here today.
• 2:10
  Speaker 3: But how you doing this week?
• 2:12
  Speaker 4: I'm hanging in there. You know, what are you gonna do?
• 2:14
  Speaker 3: That's true.
• 2:15
  Speaker 4: We roll with it now.
• 2:16
  Speaker 2: You gotta just with everything, I guess, regardless of how
• 2:20
  Speaker 2: you're looking at things, you just kind of go with
• 2:22
  Speaker 2: go with the flow, whether it be locally or whatever
• 2:25
  Speaker 2: is going on. So I tried things are a little bit.
• 2:29
  Speaker 2: You know, we always start the show talking about the market,
• 2:32
  Speaker 2: and I'm although I'm part of the show every week,
• 2:35
  Speaker 2: I'm certainly no expert on this reguard. But I did
• 2:37
  Speaker 2: notice there were some choppy headlines around, like gold, silver,
• 2:42
  Speaker 2: different things like that.
• 2:43
  Speaker 4: That we had a lot of the big earnings last week. Microsoft,
• 2:47
  Speaker 4: for instance, they beat their earnings expectations, but then the
• 2:51
  Speaker 4: stock was down, you know, ten percent.
• 2:53
  Speaker 3: We just talked about that just right. How does that happen?
• 2:55
  Speaker 1: Right?
• 2:55
  Speaker 4: And you know it has to do mainly with the
• 2:58
  Speaker 4: amount of spend on AI and when will that return happen?
• 3:02
  Speaker 4: That sort of thing. But you know, if you're a
• 3:06
  Speaker 4: long term investor, if your company keeps beating earnings expectation,
• 3:09
  Speaker 4: you know, if you're patient, you'll probably be okay. So
• 3:14
  Speaker 4: not not really anything to get worked up about. You know,
• 3:18
  Speaker 4: if they were missing earnings, if they were saying yes,
• 3:21
  Speaker 4: for sure, you know, we're not getting our investment back
• 3:23
  Speaker 4: on these things. You know, that guy could be a
• 3:25
  Speaker 4: real long term concern. But that's I don't think what
• 3:29
  Speaker 4: we're seeing there. I think we're just seeing you know,
• 3:31
  Speaker 4: people are scratching their heads thinking when is this AI
• 3:34
  Speaker 4: spin going to stop? And most companies are still talking
• 3:39
  Speaker 4: about upping the spend next year and the year after that,
• 3:42
  Speaker 4: so they're projecting to continue to spend.
• 3:45
  Speaker 3: So we'll see how that plays out.
• 3:47
  Speaker 2: Because what we've talked about this before, what we're watching
• 3:49
  Speaker 2: in real time, unlike the dot com bus, the real
• 3:52
  Speaker 2: estate bus and different things like that, social media is
• 3:55
  Speaker 2: such an ever present And I don't mean that just
• 3:57
  Speaker 2: you know, Facebook or whatever. I mean, the the industry
• 4:01
  Speaker 2: social media is so omnipresent now and the financial industry
• 4:04
  Speaker 2: is and different things that you can follow these stories
• 4:05
  Speaker 2: a lot faster than what we could back in two
• 4:07
  Speaker 2: thousand or whatever it might be. So we're seeing the
• 4:10
  Speaker 2: same sausage being made that's always made. It's just we
• 4:12
  Speaker 2: might be a little bit more privy to the process
• 4:13
  Speaker 2: now and it's not always pretty.
• 4:15
  Speaker 3: No, And.
• 4:18
  Speaker 4: But it is not new as far as the process
• 4:21
  Speaker 4: that goes on. You know, people have talked about earnings
• 4:27
  Speaker 4: and why sometimes the stock moves in an opposite direction,
• 4:30
  Speaker 4: and you know, you hear terms like buy the rumor
• 4:34
  Speaker 4: sell the fact and things like that. So it's not new,
• 4:38
  Speaker 4: and generally those things wash out pretty quickly and it
• 4:42
  Speaker 4: becomes an opportunity if the earnings are are solid, so
• 4:46
  Speaker 4: you know, we'll see I mean, earnings so far across
• 4:49
  Speaker 4: the board have been strong and in general stronger than
• 4:53
  Speaker 4: the expectations have been. That is a good place for
• 4:58
  Speaker 4: the market to be because everything is based on earnings.
• 5:01
  Speaker 4: That's why you buy a stock. You want to own
• 5:03
  Speaker 4: a piece of those earnings. And if those earnings are growing.
• 5:06
  Speaker 4: That's a good uh, a good foundation that that you
• 5:10
  Speaker 4: know is underneath and underpinning the market we are.
• 5:14
  Speaker 3: It looks like we are going to have a new
• 5:16
  Speaker 3: FED chair at some point in the at some point.
• 5:20
  Speaker 4: Yeah, we'll see how that, how that plays out. You know,
• 5:23
  Speaker 4: there's some you know, discussion about well will it be
• 5:28
  Speaker 4: more of a Dubvish FED and and I think that
• 5:32
  Speaker 4: the philosophically, there's some things that you know, I think
• 5:39
  Speaker 4: he believes that the traditional metrics aren't really capturing everything
• 5:45
  Speaker 4: that's going on in the economy, and that maybe rates
• 5:48
  Speaker 4: can be lower because our productivity is actually higher and
• 5:53
  Speaker 4: our productivity growth is actually higher than reported. In other words,
• 5:57
  Speaker 4: maybe the metrics that we've used can really keep up
• 6:00
  Speaker 4: with this AI efficiencies for instance, and all of these
• 6:05
  Speaker 4: things that are coming out in the economy. And I
• 6:07
  Speaker 4: think there is probably some degree of truth to that,
• 6:10
  Speaker 4: but you know, we'll see how that plays out. Those
• 6:14
  Speaker 4: are those are those type of things that whatever happens
• 6:17
  Speaker 4: there out of our hands.
• 6:19
  Speaker 2: So it's true from a from an ego standpoint, whenever
• 6:22
  Speaker 2: I hear terminology along these lines. The one thing that
• 6:25
  Speaker 2: I know absolutely for certain, if you're looking for efficiencies.
• 6:29
  Speaker 2: I think there's more efficiencies. You will find them. You
• 6:32
  Speaker 2: will find them. If you're trying to prove your point,
• 6:34
  Speaker 2: you will find those efficiencies. Oh yeah, and they were
• 6:36
  Speaker 2: there all along. And it depends on how you wait.
• 6:38
  Speaker 2: I'm just like I'm going to I'm going to take
• 6:40
  Speaker 2: on waste. If you're looking for waste, you will find waste.
• 6:43
  Speaker 2: There's no question you will. I don't care where you are,
• 6:45
  Speaker 2: under what circumstances you are, you will find it. So
• 6:49
  Speaker 2: sometimes it's a mcguffin I feel, and it's something to
• 6:52
  Speaker 2: talk about because that's what people want to hear. And
• 6:54
  Speaker 2: I really wonder what when the retires made the road,
• 6:58
  Speaker 2: what it's going to mean. I really dislike the idea
• 7:00
  Speaker 2: of making an assertion and then looking for the data
• 7:03
  Speaker 2: to prove it. I'm not a big fan of that
• 7:04
  Speaker 2: at all. Yeah, so we'll see how I'm smart, guys,
• 7:07
  Speaker 2: I'm sure way smarter than me. That's just some of
• 7:09
  Speaker 2: the verbiage I'm hearing. It's like, wait a minute, do
• 7:11
  Speaker 2: you have a target you're going to look for the
• 7:12
  Speaker 2: information for or do you have a new process that
• 7:15
  Speaker 2: you're going to see what that reveals? Because the second
• 7:18
  Speaker 2: one maybe is okay, the first one is just peehiking.
• 7:21
  Speaker 4: Yeah. The good thing to remember though, is the FED
• 7:25
  Speaker 4: board is made up of individuals with fourteen year terms
• 7:30
  Speaker 4: and they are all someone independently thinking. You can see
• 7:34
  Speaker 4: that in the minutes that they release from their meetings.
• 7:37
  Speaker 4: I mean, they all have their opinions. So even though
• 7:40
  Speaker 4: he may be the chair, he has one of I
• 7:43
  Speaker 4: think fourteen votes sober things, but it might not be
• 7:46
  Speaker 4: as much as people think.
• 7:48
  Speaker 2: And regardless of even those that chairs change all the time.
• 7:52
  Speaker 2: You know, monetary policy, you know at TIS it doesn't
• 7:55
  Speaker 2: usually massively change, but those things change from time to time.
• 7:58
  Speaker 2: And again, the people put into position in the various
• 8:01
  Speaker 2: companies to make money just absorb whatever the policy is
• 8:05
  Speaker 2: going to be. How is our company best position to
• 8:08
  Speaker 2: turn this into profit?
• 8:08
  Speaker 3: And then they do that.
• 8:09
  Speaker 2: I mean, I mean it's not as easy as that,
• 8:11
  Speaker 2: but that's what their goal is and that's what their
• 8:13
  Speaker 2: job is going to do, and that's why you see
• 8:15
  Speaker 2: people making profits and things like that, regardless.
• 8:18
  Speaker 3: Of the sort of the headlines. Things that change.
• 8:20
  Speaker 4: Yeah, the headlines, the politics, I mean, all of that
• 8:24
  Speaker 4: is out there, but it's it's somewhat noise when you
• 8:27
  Speaker 4: separate it from your company, and what are they trying
• 8:30
  Speaker 4: to do? What does their market look like, what is
• 8:32
  Speaker 4: a customer base? Is it growing? Are their earnings growing?
• 8:36
  Speaker 4: And if so, you know they are doing a pretty
• 8:38
  Speaker 4: good job of navigating the environment.
• 8:40
  Speaker 2: John ber Data is here with fourth Aving and financially
• 8:42
  Speaker 2: you can put you can put some common sense on
• 8:45
  Speaker 2: your side when it comes to tackling your financial future.
• 8:47
  Speaker 2: If you have any questions for John on advising you
• 8:50
  Speaker 2: on how you to can tackle your retirement, how you
• 8:52
  Speaker 2: can tackle your savings and retire right, you can give
• 8:55
  Speaker 2: us a call this morning. Three zer a four three
• 8:56
  Speaker 2: four five fifty eight fifty eight three four five fifty
• 8:58
  Speaker 2: eight fifty eight.
• 8:59
  Speaker 3: You can text.
• 8:59
  Speaker 2: Threes are a four non three five five zeros r
• 9:01
  Speaker 2: eighth threes are a four non three five five zeros
• 9:03
  Speaker 2: are eight. But we'd love to hear from you this morning.
• 9:05
  Speaker 2: Threes are A four three four five fifty eight fifty eight.
• 9:07
  Speaker 2: John and I want to talk about a couple of
• 9:09
  Speaker 2: things this morning. You sent me some information last night
• 9:11
  Speaker 2: that I thought was pretty interesting, and this kind of
• 9:15
  Speaker 2: goes a little bit into when you talk about the
• 9:16
  Speaker 2: psychology behind what you have to do. Sometimes and understanding
• 9:20
  Speaker 2: where people are coming from. And I thought this was
• 9:22
  Speaker 2: this was very good. It's basically identifying the stories that
• 9:26
  Speaker 2: people tell themselves about their their finances, and.
• 9:31
  Speaker 4: It's the narrative in your mind that you've created. And
• 9:34
  Speaker 4: once you've created that, it's very hard to escape the
• 9:37
  Speaker 4: gravity of that. And if you're thinking about it the
• 9:41
  Speaker 4: wrong way, it's very hard to be successful. And this
• 9:47
  Speaker 4: is an old article. I just happened to come across
• 9:50
  Speaker 4: it as I was reading. And it's good stuff though
• 9:54
  Speaker 4: it's all the stuff you know, it's evergreen type thing.
• 9:58
  Speaker 4: That's something that's going to a apply no matter what
• 10:01
  Speaker 4: what's happening in the market or the world.
• 10:03
  Speaker 2: So explain some of these ways how you can feed
• 10:06
  Speaker 2: a narrative in your brain that can let yourself off
• 10:08
  Speaker 2: the hook from maybe some you set some good policies
• 10:10
  Speaker 2: in place. Maybe you met with your financial advisor and
• 10:12
  Speaker 2: you have these benchmarks, these ideas you're going to do,
• 10:14
  Speaker 2: whether it's your debt, snowball money you're going to put back,
• 10:18
  Speaker 2: you know, step three of a seven part plan, whatever
• 10:21
  Speaker 2: it might be, and then you get to the point
• 10:22
  Speaker 2: where you're start negotiating with that with that place mark
• 10:25
  Speaker 2: basically you start telling yourself a story, whatever it might be.
• 10:28
  Speaker 2: It's like, man, how did I ever think I was
• 10:30
  Speaker 2: going to do this. I'm not making any more money
• 10:31
  Speaker 2: now than I was six months ago. How did I
• 10:33
  Speaker 2: ever think I could do this? Or whatever it might be.
• 10:35
  Speaker 2: There's ways that we try to talk ourselves out of that,
• 10:38
  Speaker 2: a little bit of discomfort we might have from the
• 10:40
  Speaker 2: plan that we lay forward, right, And.
• 10:42
  Speaker 4: This article has a few short stories, and the first
• 10:45
  Speaker 4: one is there will always be debt. Here that a
• 10:48
  Speaker 4: lot of times people will say, well, I'll always have
• 10:51
  Speaker 4: a car payment. It's just part of life. And if
• 10:55
  Speaker 4: you think that way, you will have a car payment
• 10:58
  Speaker 4: for the rest of your life. I mean, there's just
• 10:59
  Speaker 4: no doubt about it, because you have created that reality
• 11:03
  Speaker 4: in your mind and now it becomes almost a law,
• 11:07
  Speaker 4: you know, in your mind, and it gives you permission
• 11:11
  Speaker 4: to just go get that car. But that is not true.
• 11:14
  Speaker 4: I mean, there's not always debt if you choose not
• 11:17
  Speaker 4: to have debt, but if you give your permission with
• 11:21
  Speaker 4: statements and thoughts like that, it's very hard to get
• 11:24
  Speaker 4: rid of that debt. You know, a car is let's
• 11:27
  Speaker 4: say you buy a car. First car, maybe you do
• 11:29
  Speaker 4: finance it and you pay it off. Well, if you
• 11:33
  Speaker 4: don't go get another car right away and drive that
• 11:36
  Speaker 4: car a few years and save the money that you
• 11:39
  Speaker 4: were paying for that car payment after it's paid off, well,
• 11:44
  Speaker 4: then that next car you might not have debt, or
• 11:46
  Speaker 4: you might have less debt. You repeat that process again.
• 11:49
  Speaker 4: At some point you don't have a car payment because
• 11:52
  Speaker 4: you're paying cash for that car. And it's very doable
• 11:56
  Speaker 4: to do. It just means that don't go buy car
• 12:00
  Speaker 4: as soon as you get rid of the payment and
• 12:02
  Speaker 4: sign up for another payment. But people give themselves permission
• 12:06
  Speaker 4: with these types of thought patterns that that they have.
• 12:10
  Speaker 4: And it's it's the same thing in in with credit
• 12:14
  Speaker 4: card usage, like well, I'll just spend another credit card.
• 12:18
  Speaker 4: I know I'm going to have a three hundred dollars
• 12:20
  Speaker 4: a month credit card bill, and that's part of their budget.
• 12:22
  Speaker 4: They don't budget in the actual expense of what they're purchasing, right,
• 12:29
  Speaker 4: They're just budgeting it as a credit card. And there's
• 12:32
  Speaker 4: that's expensive debt, and and that robs your potential in
• 12:37
  Speaker 4: the future and even even month to month, the the
• 12:40
  Speaker 4: interest are paying it. It robs the the fullness of
• 12:44
  Speaker 4: what you could be living or building.
• 12:48
  Speaker 2: These little self deceptions or these old stories can can
• 12:51
  Speaker 2: really evolve from boiling the frog too, Like you didn't
• 12:55
  Speaker 2: really think it was that bad at first. I'll use
• 12:57
  Speaker 2: myself as an example here, somebody who's used the snowball
• 13:00
  Speaker 2: tactic several times. The last time that I got into
• 13:03
  Speaker 2: any kind of debt at all, I was debt free
• 13:05
  Speaker 2: except for my mortgage payment for years until the COVID.
• 13:07
  Speaker 2: Until COVID and things happened, you know, I mean, you're
• 13:10
  Speaker 2: not making as much money. There's people are sick, things,
• 13:13
  Speaker 2: you need to do, things along those lines. And so
• 13:15
  Speaker 2: what I felt was meticulously borrowed some money so COVID
• 13:19
  Speaker 2: would be a little easier for us as a family.
• 13:21
  Speaker 2: When things that were going on in it for the
• 13:22
  Speaker 2: most part worked, I mean, my plan worked, but I
• 13:25
  Speaker 2: had this debt load I was carrying, and for the
• 13:26
  Speaker 2: longest time, I just told myself was like, man, unique circumstances. Man,
• 13:30
  Speaker 2: I mean, what can you do. I couldn't never have
• 13:32
  Speaker 2: planned for that, you know, there's no way I could
• 13:34
  Speaker 2: have planned for that. So I just have to carry
• 13:36
  Speaker 2: this debt. And it wasn't until you know, a couple
• 13:38
  Speaker 2: of years really after COVID. I mean it was a
• 13:41
  Speaker 2: year or more ago now that I finally was like,
• 13:43
  Speaker 2: you know, this is stupid, you know. I mean, yes, sure,
• 13:46
  Speaker 2: I mean I wasn't planning on this, But it's not
• 13:47
  Speaker 2: that much for me to take care of. If I
• 13:50
  Speaker 2: just over a ten month period, I could just divide
• 13:52
  Speaker 2: it into ten payments and take care of it. That's
• 13:53
  Speaker 2: what I did. You know, it wasn't it wasn't great,
• 13:55
  Speaker 2: you know. But at the end of last year, or
• 13:58
  Speaker 2: before the end of last year, whatever, I was other
• 14:00
  Speaker 2: than my mortgage payment. Yet again, I'm debt free, which
• 14:02
  Speaker 2: is which is where I like to be. And I
• 14:04
  Speaker 2: have that seed of discomfort in me that I let
• 14:07
  Speaker 2: get subdued a little bit over time because I was
• 14:10
  Speaker 2: telling myself that story is like, yeah, COVID, nobody can
• 14:12
  Speaker 2: do anything about that. I mean, I have no choice
• 14:14
  Speaker 2: now but to carry this debt. I did have a choice. Yeah,
• 14:16
  Speaker 2: I just had to find more discipline again.
• 14:18
  Speaker 4: Yeah, find more discipline and look at the situation and
• 14:21
  Speaker 4: come up with a come up with a new game
• 14:23
  Speaker 4: plan and a new narrative. But your mind is powerful.
• 14:27
  Speaker 4: If you set something in your mind, then that becomes
• 14:30
  Speaker 4: the reality. It just does I mean it's it's uh.
• 14:36
  Speaker 4: Your thoughts are are very real and have very real
• 14:39
  Speaker 4: impact on your on your success, and you have to
• 14:43
  Speaker 4: be very careful what those thoughts are that you put
• 14:45
  Speaker 4: in your mind.
• 14:46
  Speaker 2: We have a couple more things along these lines. When
• 14:49
  Speaker 2: it talks about the stories that we tell ourselves, we'll
• 14:50
  Speaker 2: talk about we'll then and tuk our break now, then
• 14:52
  Speaker 2: we come back when we'll finish up this discussion as
• 14:55
  Speaker 2: the show goes on. And if you want to get
• 14:56
  Speaker 2: in the conversations, well, maybe you can tell us a
• 14:58
  Speaker 2: story that you've told yourself four that you've come overcome,
• 15:02
  Speaker 2: or maybe you're in the midst of the narrative narrative
• 15:04
  Speaker 2: right now and you want to bounce it off John
• 15:05
  Speaker 2: and see if you can give you some real life
• 15:07
  Speaker 2: advice on how to break out of a narrative is
• 15:11
  Speaker 2: not doing you any good in your life. So you
• 15:12
  Speaker 2: give us a call this morning if you'd like three
• 15:13
  Speaker 2: zero four three four five fifty eight fifty eight three
• 15:15
  Speaker 2: four five fifty eight fifty eight. You can text three
• 15:17
  Speaker 2: zero four non three five five zero zero eight. That's
• 15:19
  Speaker 2: John Bredet with Fourth Avenue Financial. I'm del Cooper. You
• 15:22
  Speaker 2: can give us a call this morning three zero four,
• 15:23
  Speaker 2: three four five fifty eight fifty will be black. Right
• 15:25
  Speaker 2: after this, you're listening to retire Right Radio on five
• 15:28
  Speaker 2: to eighty WCHS, the voice of Charleston.
• 15:30
  Speaker 5: Retire Right Radio was sponsored by Fourth Avenue Financial, which
• 15:32
  Speaker 5: is solo responsible for its content. Security is offered through
• 15:35
  Speaker 5: JW CALL Financial Member fent Recipic investment advice offered through
• 15:39
  Speaker 5: JW COL Advisors. Fourth Avenue Financial, jw CL Financial and
• 15:42
  Speaker 5: JW COL Advisors are unaffiliated entities. The opinions expressed by
• 15:46
  Speaker 5: John Burdett should not be construed as specific investment, legal,
• 15:49
  Speaker 5: or tax advice. All economic and performance information is historical
• 15:52
  Speaker 5: and not indicative of future results. Investing may involve risk
• 15:56
  Speaker 5: of loss of principle. Any types of advice on this
• 15:58
  Speaker 5: show is not intended to be used by any person
• 16:00
  Speaker 5: for the purpose of avoiding US federal or state tax
• 16:03
  Speaker 5: penalties that may be imposed on such a person, and
• 16:06
  Speaker 5: each listener should seek advice from their tax advisor or
• 16:09
  Speaker 5: legal console on topics that arise from the show. John
• 16:12
  Speaker 5: Burdett is not providing legal or tax advice. Nothing should
• 16:15
  Speaker 5: be construed as solicitation of an offer to buy Securities.
• 16:18
  Speaker 5: This program is sponsored by Fourth Avenue Financial, which is
• 16:21
  Speaker 5: solely responsible for its content.
• 16:23
  Speaker 4: You worked hard, You've saved. Now it's time to make
• 16:26
  Speaker 4: your money work for you without second guessing every decision.
• 16:29
  Speaker 4: I'm jombreed at with Fourth Avenue Financial and I help
• 16:32
  Speaker 4: people retire with confidence and clarity. We'll create a personalized
• 16:35
  Speaker 4: plan that fits your lifestyle, your goals, and your legacy.
• 16:38
  Speaker 4: Retirement should feel like freedom, not fear. Visit fourth Avenue
• 16:42
  Speaker 4: Financial dot com. Let's get started today. Fourth Avenue Financial.
• 16:46
  Speaker 1: Retirement Done Right Securities offered through Geniauco Financial Incorporated. Memberfin
• 16:50
  Speaker 1: Recipic Advisory Services offered through Jeniatecore Advisors Incorporated. The latest
• 16:54
  Speaker 1: in news, talk in sports. When five AWCCHS is brought
• 16:57
  Speaker 1: to you about Jarrett Construction. Called three zero four to
• 16:59
  Speaker 1: three for more infaction.
• 17:02
  Speaker 5: Time right on budget, callun Charity Construction.
• 17:09
  Speaker 1: Join us for spiritual nourishment. Every Sunday morning. Stay connected
• 17:13
  Speaker 1: to your faith with community programming, inspirational music and church
• 17:17
  Speaker 1: services on five eight WHS starting at seven. Find solace
• 17:21
  Speaker 1: and inspiration on the Voice of Charleston. This is retire
• 17:26
  Speaker 1: Rife Radio with John Burdett from Fourth Avenue Financial, taking
• 17:30
  Speaker 1: your calls at three oh four, three four five fifty
• 17:33
  Speaker 1: eight fifty eight or texts on three oh four nine
• 17:36
  Speaker 1: three five fifty oh eight.
• 17:53
  Speaker 2: You're listening to the Voice of Charleston five ADWCHS as
• 17:57
  Speaker 2: we get ready to get ready for a Monday morning.
• 18:00
  Speaker 2: John Burdeta is in a studio with us this morning.
• 18:01
  Speaker 2: We're taking your phone calls if you want to learn
• 18:04
  Speaker 2: how you can retire writer, if you have any questions
• 18:06
  Speaker 2: to kind of demystify the whole situation, a problem that
• 18:09
  Speaker 2: you have, or like we're talking about narratives this morning,
• 18:10
  Speaker 2: narratives that people will tell themselves that create barriers to
• 18:14
  Speaker 2: saving money and putting their money to work for them.
• 18:17
  Speaker 2: Maybe you want to share one of your barriers, something
• 18:19
  Speaker 2: you've overcome, anything along those lines. Welcome to give us
• 18:20
  Speaker 2: a call this morning. Three z are a four three
• 18:22
  Speaker 2: four five fifty eight fifty eight three four five fifty
• 18:24
  Speaker 2: eight fifty eight. You can text three zer four none
• 18:25
  Speaker 2: three five five years your eight Fourth Avenue Financial. One
• 18:28
  Speaker 2: line is fourth Avenue Financial dot com. You spell out
• 18:30
  Speaker 2: the whole thing, and also on Facebook you can do
• 18:32
  Speaker 2: a search for fourth Avenue Financial and you can bring
• 18:34
  Speaker 2: it up We're talking a little bit this morning about
• 18:35
  Speaker 2: the narratives that we tell ourselves that kind of get
• 18:38
  Speaker 2: in the way. One thing that's kind of interesting. It's
• 18:41
  Speaker 2: a little bit of a non sequitor from this, but
• 18:42
  Speaker 2: we were talking just before we came back from the
• 18:44
  Speaker 2: break I've been for Right when my daughter was born,
• 18:49
  Speaker 2: we had a cat that had basically vomited on our
• 18:52
  Speaker 2: Blu ray player, shorted out the power supply, and because
• 18:56
  Speaker 2: everything is so available on line, I just never replaced it.
• 18:59
  Speaker 2: We were just everything we have we can find online
• 19:01
  Speaker 2: for the most part, and for years, I mean eight
• 19:03
  Speaker 2: years now, for almost we've we've been going through that
• 19:05
  Speaker 2: and over. For my wife's birthday, I got us all
• 19:08
  Speaker 2: as a family, like a new Blu ray player and
• 19:09
  Speaker 2: stuff like that. My wife, but my daughter loves Blu rays.
• 19:12
  Speaker 2: She loves watching, she loves putting the movies in, she
• 19:15
  Speaker 2: likes the special features, she likes blue, she likes the
• 19:17
  Speaker 2: physical media of Blu rays. I'm want to take this
• 19:19
  Speaker 2: little halo area we're talking about saving some money. I'm
• 19:22
  Speaker 2: want to take this little halo area where suddenly she's
• 19:24
  Speaker 2: not attached to some of these other streamers and stuff
• 19:26
  Speaker 2: that we have I'm axing them, baby. But maybe in
• 19:29
  Speaker 2: a few months she might come back to me and
• 19:30
  Speaker 2: we negotiate some return or something like that.
• 19:33
  Speaker 3: But this is how you get rid of stuff. Man,
• 19:34
  Speaker 3: I'm axing them.
• 19:35
  Speaker 4: I feel like we might have a new vinyl record bier.
• 19:37
  Speaker 3: I know future.
• 19:39
  Speaker 2: Man.
• 19:39
  Speaker 3: You wouldn't believe she is. She is hardcore with her music.
• 19:43
  Speaker 3: I was last weekend.
• 19:46
  Speaker 2: I was just looking around for something for us to
• 19:48
  Speaker 2: watch just before the Seahawks game come on and before
• 19:50
  Speaker 2: we lost cable. So this was the last thing I
• 19:52
  Speaker 2: watched before we lost cable. For a ton of time
• 19:54
  Speaker 2: last week because I never got to watch my Seahawks
• 19:56
  Speaker 2: game and we were watching, I was flipping around through
• 19:59
  Speaker 2: Austin City Limits trying to find different things for her
• 20:01
  Speaker 2: to watch, and I landed on a couple of different artists.
• 20:04
  Speaker 2: You know, She's like, Nope, not rocking enough, not rocking enough,
• 20:06
  Speaker 2: not rock enough. We finally got to a Lotus Moore
• 20:08
  Speaker 2: set of all people, and it was her only time
• 20:11
  Speaker 2: ever being on Austin City limits. It was just from
• 20:13
  Speaker 2: a few months ago and she was just inducted into
• 20:17
  Speaker 2: the Songwriters Hall of Fame, you know, I mean, she
• 20:19
  Speaker 2: has a whole long list of hits and everything else.
• 20:21
  Speaker 2: She came out and just did the hits. My daughter
• 20:24
  Speaker 2: loved it. She was dancing around and she's like, now,
• 20:26
  Speaker 2: this is music. And you know, Alana's was really getting
• 20:29
  Speaker 2: into it. You know, she's getting up there now, but
• 20:31
  Speaker 2: she was, you know, she seemed like nineties Alanis was
• 20:34
  Speaker 2: really into it. And it was a really, really good performance.
• 20:37
  Speaker 2: My daughter just loved it. I just liked watching her
• 20:40
  Speaker 2: enjoy something that she found. It was really cute to see.
• 20:42
  Speaker 2: And it was just a live performance of you know,
• 20:44
  Speaker 2: it wasn't the K pop demon Hunters or anything. You know,
• 20:46
  Speaker 2: it was like, it was good stuff.
• 20:48
  Speaker 1: You do.
• 20:49
  Speaker 4: Love music is the best.
• 20:50
  Speaker 3: It is, It really is.
• 20:51
  Speaker 2: And some of those performances I save Austin City Limits
• 20:54
  Speaker 2: every time it comes on. I don't always watch it,
• 20:56
  Speaker 2: but then I'll go in and I'll have like ten
• 20:57
  Speaker 2: or twelve performances to choose from. And I love that
• 20:59
  Speaker 2: show Man. There's all kinds of great performances on there.
• 21:01
  Speaker 4: Yeah, yeah, that's great. And even even vinyl records. You
• 21:05
  Speaker 4: know the live I mean, yeah, you hear the sometimes
• 21:08
  Speaker 4: you hear the banter, but you know, be in between
• 21:11
  Speaker 4: songs on those records. It's just great.
• 21:13
  Speaker 2: Yeah, live records and listening to live one vinyl is
• 21:17
  Speaker 2: an experience. You know, any of those great live albums
• 21:20
  Speaker 2: that you think about listening to them on your record player
• 21:23
  Speaker 2: growing up, it's just a different experience, man, There's just
• 21:25
  Speaker 2: something different about it. Whether it be Peter Frampton or
• 21:28
  Speaker 2: Wings or whoever it is. You know, you can have
• 21:30
  Speaker 2: all kinds of great live experiences in there. But we're
• 21:33
  Speaker 2: talking about finances this morning. You can give as a
• 21:35
  Speaker 2: call threes or a four three four five fifty fifty
• 21:37
  Speaker 2: eight three four five fifty to fifty. We're talking about
• 21:38
  Speaker 2: these narratives in ways that we can that we try
• 21:41
  Speaker 2: to talk ourselves out of doing the hard part sometimes.
• 21:44
  Speaker 2: And another way that that happens is you know, you
• 21:46
  Speaker 2: set you might set up your pens ready to go.
• 21:48
  Speaker 2: You're like, okay, this is the amount of money you make,
• 21:50
  Speaker 2: and then you're frustrated at some point later it's like,
• 21:52
  Speaker 2: this isn't ever going to work until I can make
• 21:54
  Speaker 2: more money.
• 21:55
  Speaker 3: I just need to raise that's what I need.
• 21:57
  Speaker 4: Yeah. People put off that planning because they say, well,
• 22:00
  Speaker 4: i'll make more money in the future, then I'll get
• 22:02
  Speaker 4: everything square. That's not the way it works. You planning
• 22:07
  Speaker 4: because they say, well, i'll make more money in the future,
• 22:09
  Speaker 4: then I'll get everything square. That's not the way it works.
• 22:13
  Speaker 4: You have to work, be positive and work from where
• 22:18
  Speaker 4: you are and build that foundation. No matter what you make,
• 22:21
  Speaker 4: you have to figure out a way to live below
• 22:25
  Speaker 4: your means, so you're constantly creating savings and investment. And
• 22:28
  Speaker 4: that's difficult sometimes when you start out, but that's the
• 22:33
  Speaker 4: you know, the idea, you need to tell your money
• 22:36
  Speaker 4: what to do and not basically be working on a
• 22:40
  Speaker 4: treadmill for the rest of your life. You'll work on
• 22:42
  Speaker 4: a treadmill for the rest of your life. If you
• 22:45
  Speaker 4: maintain that type of mindset, you're not building anything for
• 22:49
  Speaker 4: the future, and you're giving yourself permission to put that off.
• 22:54
  Speaker 4: And you know, the idea of trying to be successful,
• 23:02
  Speaker 4: we talk about it all the time, is you have
• 23:04
  Speaker 4: to consistently create savings investment. You'll you'll never build an
• 23:11
  Speaker 4: asset that is that is working without you, without your labor,
• 23:15
  Speaker 4: unless you're consistently doing that. And and there's no way
• 23:20
  Speaker 4: around that. There's just no way around that. And the
• 23:24
  Speaker 4: years that you spend telling yourself that lie are years
• 23:29
  Speaker 4: that you can't get back. You know, money is replaceable,
• 23:33
  Speaker 4: time is not.
• 23:36
  Speaker 3: And that's absolutely true.
• 23:37
  Speaker 2: What it reminds me a lot of an expression that
• 23:41
  Speaker 2: an instructor of years ago when I worked for a corporation.
• 23:45
  Speaker 2: In this company, we took upon our responsibility as as
• 23:49
  Speaker 2: as managers of the full finances of the of the
• 23:53
  Speaker 2: of the of the office, so all the way down
• 23:55
  Speaker 2: to the to the office supplies and everything else. We
• 23:58
  Speaker 2: basically managed it just like it was our own office.
• 24:00
  Speaker 2: And in the in the meetings and talking about these
• 24:02
  Speaker 2: different things, one of the instructors told us we weren't
• 24:05
  Speaker 2: building an iguana house. And I didn't understand really what
• 24:08
  Speaker 2: that meant, and she went on to explain, basically, I
• 24:10
  Speaker 2: guess iguana is I don't know if it's a certain speech,
• 24:13
  Speaker 2: I have never had one, but I guess they'll basically
• 24:15
  Speaker 2: grow to the size of the cage that you put
• 24:17
  Speaker 2: them in the aquarium and put them in. So if
• 24:18
  Speaker 2: you have a tiny winning you have it a tiny aquarium,
• 24:20
  Speaker 2: you'll have a tiny iguana. If you get a larger one,
• 24:22
  Speaker 2: you're likely to get a larger iguana. It will shape
• 24:24
  Speaker 2: itself to the size of the aquarium that you put
• 24:27
  Speaker 2: it in and so that your finances should not be
• 24:29
  Speaker 2: like an iguana.
• 24:31
  Speaker 3: You should not. You should not.
• 24:32
  Speaker 2: You don't want your finances to grow when your aquarium grows.
• 24:35
  Speaker 2: You should have you should have very specific amounts that
• 24:38
  Speaker 2: you want your lizard to b and then if your
• 24:39
  Speaker 2: house grows around it, great because that means it's more
• 24:41
  Speaker 2: money and stuff like that. That was the illustration that she gave,
• 24:43
  Speaker 2: But it made sense to me at the time. You know,
• 24:45
  Speaker 2: you take responsibility for that thing. You don't want to
• 24:47
  Speaker 2: just say, well, because we made more money this month
• 24:49
  Speaker 2: than maybe we can put more money into X, Y
• 24:52
  Speaker 2: or z or whatever when it was working fine.
• 24:53
  Speaker 4: I mean, you have two choices. Basically, you can spend
• 24:59
  Speaker 4: less money and make what you make, and if you're
• 25:01
  Speaker 4: unhappy with that, the answer is never, let's borrow money
• 25:04
  Speaker 4: to fill the gap. You know, if you want and
• 25:08
  Speaker 4: are unhappy in the station that you are, then yes,
• 25:11
  Speaker 4: you do need to work on the income side, trying
• 25:14
  Speaker 4: to you know, make yourself more valuable in the marketplace,
• 25:17
  Speaker 4: maybe through continuing education or something of that nature. Training
• 25:23
  Speaker 4: that will help you progress in the workplace and the
• 25:26
  Speaker 4: income level. But you don't borrow until you you know ever,
• 25:33
  Speaker 4: in that situation, if you're unhappy with your station or
• 25:37
  Speaker 4: where you are and your budget, you have to work
• 25:40
  Speaker 4: below your means always, no matter if you make twenty
• 25:43
  Speaker 4: thousand a year or two hundred thousand a year, and
• 25:47
  Speaker 4: if you're unhappy, debt is not the answer. It will
• 25:50
  Speaker 4: just put you farther behind and make you more unhappy
• 25:54
  Speaker 4: in the future. The answer is looking at it clearly,
• 25:59
  Speaker 4: under standing where you are and if you don't like it,
• 26:04
  Speaker 4: how do you productively change that. You know you can
• 26:09
  Speaker 4: work on the budget and cut things out. If you're
• 26:13
  Speaker 4: unhappy doing that, then you have to figure out how
• 26:15
  Speaker 4: to make more money. But you don't put things off.
• 26:18
  Speaker 4: You don't put off making the right decisions until you
• 26:23
  Speaker 4: make that more money. You have to do it from
• 26:25
  Speaker 4: where you are today or you'll never get out of
• 26:29
  Speaker 4: that trap. And that is a huge lie that gets told,
• 26:33
  Speaker 4: you know to internally often it's like, I just have
• 26:39
  Speaker 4: to make more money. I can't get out of this trap.
• 26:42
  Speaker 4: It's basically giving yourself permission to flounder.
• 26:46
  Speaker 2: And reading the article and some things that we've talked
• 26:48
  Speaker 2: about in the past, one thing that I think is
• 26:51
  Speaker 2: instructive on this is if you look back to how
• 26:54
  Speaker 2: much money you were making ten years ago, twenty years ago,
• 26:57
  Speaker 2: whatever it might be. Most people were making actually considerably
• 27:00
  Speaker 2: amount more money than what they were then, and yet
• 27:03
  Speaker 2: you're probably still feeling just as broke as what you
• 27:05
  Speaker 2: did then. And of course the price of inflation and
• 27:07
  Speaker 2: stuff will track some of that, but also some of
• 27:09
  Speaker 2: it is the fact that you're the iguana. You know,
• 27:12
  Speaker 2: you're growing with your finances, and so instead of keeping
• 27:16
  Speaker 2: everything the same as it was when you were making
• 27:18
  Speaker 2: you know X amount of year, now that you're making
• 27:21
  Speaker 2: X plus twenty or whatever it is, you've added twenty
• 27:24
  Speaker 2: thousand dollars worth of of lifetime expenditures or of yearly
• 27:28
  Speaker 2: expenditures and stuff like that, and it creeps. It's not
• 27:31
  Speaker 2: like something you make the decision on January first, well
• 27:33
  Speaker 2: I'm going to spend twenty thousand dollars more this year.
• 27:35
  Speaker 2: It's just you find a little bit extra here, a
• 27:37
  Speaker 2: little bit extra there. Oh well, we can go out
• 27:38
  Speaker 2: to eat a little bit more, or I can buy
• 27:40
  Speaker 2: this or have a little bigger Christmas or whatever it might.
• 27:42
  Speaker 4: Be, which is fine if you have a plan around that.
• 27:45
  Speaker 1: Right.
• 27:45
  Speaker 4: So, for instance, let's say you get a three percent
• 27:48
  Speaker 4: raise for the year. Okay, take one percent of the
• 27:52
  Speaker 4: three percent and put it in in a productive investment
• 27:56
  Speaker 4: that still leaves you two percent extra that you can
• 27:58
  Speaker 4: live on and if you want to go out to
• 28:01
  Speaker 4: eat on that, if you want to, you know, but
• 28:02
  Speaker 4: you're moving towards your goal. You're getting yourself to the
• 28:06
  Speaker 4: point where, hey, your consistent savings and investment is now
• 28:10
  Speaker 4: building something that will earn money even while you're sleeping.
• 28:16
  Speaker 4: You have to get to that point to get off
• 28:18
  Speaker 4: of that treadmill. And so those are just those are
• 28:21
  Speaker 4: not just happenstance. Those are deliberate decisions that you make.
• 28:26
  Speaker 4: It's not luck, it's you deciding that I want to
• 28:30
  Speaker 4: change my station.
• 28:31
  Speaker 2: I think you bring up a great point there too,
• 28:33
  Speaker 2: the agency that we do have, because another part of
• 28:35
  Speaker 2: one of these narratives that were in the article that
• 28:37
  Speaker 2: you sent me in and of like cons is that
• 28:41
  Speaker 2: you kind of diminish yourself in your agency to do
• 28:45
  Speaker 2: things like, oh, I'm not an expert in this regard,
• 28:47
  Speaker 2: I'm not a financial advisor. I don't know what any
• 28:49
  Speaker 2: of this stuff is. What can I possibly do? Little
• 28:51
  Speaker 2: old me here being ground down by the man. I
• 28:54
  Speaker 2: can't save any money. You can kind of get into
• 28:57
  Speaker 2: that defeatist type of attitude with its like, well there's
• 28:59
  Speaker 2: just nothing at all I can do, and again it's
• 29:00
  Speaker 2: just not true.
• 29:01
  Speaker 4: No, no, not true at all. I mean one today,
• 29:04
  Speaker 4: there's so much information out there that you can learn.
• 29:08
  Speaker 4: You can read. I would I would read more than
• 29:11
  Speaker 4: I would watch videos on YouTube.
• 29:13
  Speaker 2: But everything that's video anymore? Man, why can't you anything?
• 29:17
  Speaker 4: Right?
• 29:18
  Speaker 3: I just want to read.
• 29:19
  Speaker 4: When you read it, you process it and you you
• 29:22
  Speaker 4: take it in and you have your own thoughts about it,
• 29:25
  Speaker 4: and it it becomes you. It helps you craft a
• 29:29
  Speaker 4: new narrative essentially. But there is really learning about financial
• 29:37
  Speaker 4: planning and the and the basics of treating money the
• 29:40
  Speaker 4: right way. Really a grade schooler can understand it. That
• 29:45
  Speaker 4: doesn't mean it's easy to do, because life is out
• 29:48
  Speaker 4: there always intruding and having to say in things. But
• 29:52
  Speaker 4: the process is very simple, and you know, go out
• 29:58
  Speaker 4: and serve people to the highest of your ability to
• 30:01
  Speaker 4: earn as much as you can. If you want to
• 30:04
  Speaker 4: earn more money, figure out how to make yourself more
• 30:09
  Speaker 4: valuable in the marketplace by obtaining training, educations, things like that.
• 30:16
  Speaker 4: Go out there and live below your means consistently. You know,
• 30:21
  Speaker 4: don't don't borrow money that for things that are are
• 30:24
  Speaker 4: not necessary to make you feel good today. You know,
• 30:30
  Speaker 4: control your budget, tell your money what to do. It
• 30:33
  Speaker 4: doesn't tell you what to do, You tell it what
• 30:35
  Speaker 4: to do. You have that power. Take that money, invest
• 30:40
  Speaker 4: it into something productive that's going to be paying you
• 30:45
  Speaker 4: while you're sleeping, and then repeat that process. I just
• 30:51
  Speaker 4: told you how to be financially successful. If you do that,
• 30:53
  Speaker 4: you'll be successful. That is a very easy path to understand.
• 31:00
  Speaker 4: Like I say, in life, it's not always easy to do,
• 31:02
  Speaker 4: and you have to make some choices and adjustments. But
• 31:05
  Speaker 4: if you you know, structure yourself and your thoughts into
• 31:10
  Speaker 4: that very simple four steps, you've got it. You've got
• 31:16
  Speaker 4: it down, and you just repeat that process. And the
• 31:20
  Speaker 4: more you repeat it, the easier it becomes.
• 31:23
  Speaker 2: John our debt with Fourth Avenue Financial and and he's
• 31:25
  Speaker 2: someone that can help you with this process, help keep
• 31:27
  Speaker 2: you in the straight and arrow, be your advisor and
• 31:30
  Speaker 2: someone to bounce your ideas of out of and never
• 31:33
  Speaker 2: lose sight of the plan that you put into place.
• 31:35
  Speaker 2: If you have any questions for John, before we clear
• 31:36
  Speaker 2: the airways, this wording, we still have a few minutes left.
• 31:38
  Speaker 2: You can give us a call it three zero four,
• 31:39
  Speaker 2: three four five fifty fifty eight. You can find out
• 31:41
  Speaker 2: more information online. It's fourth Avenue Financial dot com. You
• 31:43
  Speaker 2: spell out the whole thing fourth Avenue Financial dot com,
• 31:45
  Speaker 2: or like it on Facebook doing that same search. Their
• 31:47
  Speaker 2: phone numbers three zer a four seven, four six, seven, done,
• 31:49
  Speaker 2: seven seven. I'll give that to you a few more
• 31:50
  Speaker 2: times before we leave here today. But three zero four
• 31:52
  Speaker 2: seven four six seven done, seven seven seven four six
• 31:55
  Speaker 2: seven nine seven seven. For any questions you have, then
• 31:57
  Speaker 2: I understand that maybe you don't want to ask on
• 31:59
  Speaker 2: the open air, that you can pick up the phone
• 32:02
  Speaker 2: call and ask John and his staff at his office.
• 32:04
  Speaker 2: So again that number seven four six seven nine seven seven,
• 32:07
  Speaker 2: and all of these things that we talk about. We
• 32:10
  Speaker 2: were talking about narratives this morning. But for whatever reason
• 32:12
  Speaker 2: that you get there, that you need to find ways
• 32:15
  Speaker 2: to live below your means and to put money away,
• 32:17
  Speaker 2: have it to do work for you, pay off debts.
• 32:20
  Speaker 2: Whatever it is, whether it's through narrative that you get
• 32:22
  Speaker 2: there or or whatever else, these processes still work. You
• 32:26
  Speaker 2: need to find you need to find your launching off
• 32:29
  Speaker 2: point for them, so to speak. But once you kind
• 32:31
  Speaker 2: of get your feet under you and you have a
• 32:33
  Speaker 2: plan in place that John can help you with. It
• 32:35
  Speaker 2: gives you a workable action plan that you can go
• 32:37
  Speaker 2: down and you no longer have to be like, well,
• 32:39
  Speaker 2: if I do this, then maybe this will happen. Now
• 32:41
  Speaker 2: you'll have do A, then you can do B, and
• 32:43
  Speaker 2: then you can go on down the list that way
• 32:46
  Speaker 2: and feel confident in the steps that you're taking in
• 32:48
  Speaker 2: that regard.
• 32:49
  Speaker 4: Yeah. Absolutely, I mean we have people all the time
• 32:51
  Speaker 4: that are should I buy a vacation home or should
• 32:55
  Speaker 4: I do this instead? You know, can I afford to
• 32:58
  Speaker 4: do this within my with my budget? You know, we
• 33:02
  Speaker 4: could go through and help make those decisions wisely. And
• 33:07
  Speaker 4: like you say, the idea of a budget is not
• 33:10
  Speaker 4: to say no. The idea of a budget is for
• 33:14
  Speaker 4: you to tell your money what to do and be
• 33:15
  Speaker 4: able to say yes from a position of authority where
• 33:21
  Speaker 4: you can actually see it through properly. You know, you
• 33:26
  Speaker 4: might go out and buy a place at the beach,
• 33:30
  Speaker 4: for instance, but if you haven't calculated the expenses properly,
• 33:36
  Speaker 4: you know, what are taxes going to be? What happens
• 33:38
  Speaker 4: if a hurricane blows through and I can't rent it
• 33:41
  Speaker 4: for a year. You know what happens. Do I have
• 33:43
  Speaker 4: the wherewithal to deal with that without blowing my budget up.
• 33:47
  Speaker 4: If you do and you want that, then maybe you
• 33:52
  Speaker 4: know that's the thing you should do. So it's not
• 33:54
  Speaker 4: about saying no all the time. And I think when
• 33:56
  Speaker 4: people hear budget that's a that's what they think of it.
• 34:00
  Speaker 4: Just no, no, no, no, no, I can't do this.
• 34:02
  Speaker 4: I better save that. No, it's not that at all.
• 34:05
  Speaker 4: It's about achieving the things that you want to achieve
• 34:08
  Speaker 4: in a pathway, in a process that that puts you ahead,
• 34:13
  Speaker 4: not behind.
• 34:14
  Speaker 2: It reminds me of the old satisfaction that we used
• 34:17
  Speaker 2: to have, and I suppose these still exist. To symagree,
• 34:19
  Speaker 2: I don't know, but like when you had a layaway
• 34:21
  Speaker 2: thing at kmart, you know, I remember when I was
• 34:23
  Speaker 2: like a in my twenties or something. That was the
• 34:26
  Speaker 2: way that you would get you know, you know, Camart
• 34:29
  Speaker 2: didn't high takeing items, but if you wanted that entertainment
• 34:31
  Speaker 2: cent or whatever it might be that costs a little
• 34:32
  Speaker 2: bit more money than what you had at the time,
• 34:34
  Speaker 2: you would put a certain amount on lay away and
• 34:36
  Speaker 2: give them some money and you could go back every
• 34:38
  Speaker 2: week or every two weeks and pay it until you
• 34:39
  Speaker 2: paid it off and as long as you met their
• 34:42
  Speaker 2: terms on which were really lenient. I mean, they gave
• 34:44
  Speaker 2: you a long time to pay it off, and as
• 34:45
  Speaker 2: long as you did it, you owned it. And there
• 34:46
  Speaker 2: was no interest or anything on that. I mean, layoway
• 34:48
  Speaker 2: was just same as cash. That was actually a pretty
• 34:50
  Speaker 2: good deal for people, and it taught them how to
• 34:53
  Speaker 2: get something incrementally.
• 34:54
  Speaker 3: We don't do that at all anymore. I mean there's
• 34:56
  Speaker 3: nothing like that at all.
• 34:57
  Speaker 4: You know why when they can charge you eighteen to
• 34:59
  Speaker 4: twenty percent in.
• 35:00
  Speaker 2: That's right, so you can you can do it yourself though,
• 35:02
  Speaker 2: you can. You can create your own fund and be like, Okay,
• 35:04
  Speaker 2: well I know that this new entertainment center or whatever
• 35:06
  Speaker 2: costs eight hundred dollars, and so I can put you know,
• 35:09
  Speaker 2: one hundred dollars away for eight weeks, and then I'll
• 35:10
  Speaker 2: have eight hundred dollars at the end of the thing
• 35:11
  Speaker 2: in two months, I can go buy it.
• 35:13
  Speaker 4: Right right, no doubt about it. So you know, in
• 35:17
  Speaker 4: these narratives that we have, I mean, there are reasons
• 35:20
  Speaker 4: we have them. You know. Maybe it's something that happened
• 35:23
  Speaker 4: during your childhood that it's helped created or watching people
• 35:27
  Speaker 4: in your family and how they've done things. But you know,
• 35:33
  Speaker 4: it's not that those those narratives have formed out of nowhere, right,
• 35:37
  Speaker 4: It's just some of those narratives are destructive, and you
• 35:41
  Speaker 4: have to evaluate what those what those narratives are, and
• 35:45
  Speaker 4: you have to be careful. You know, they say that
• 35:48
  Speaker 4: with friends. You know, if you hang out with certain people,
• 35:53
  Speaker 4: you become like those people.
• 35:56
  Speaker 3: I've seen that happen plenty of times. Yeah.
• 35:57
  Speaker 4: Sure, And it's the same thing these with money in narratives.
• 36:02
  Speaker 4: If you listen to people that that have their own
• 36:06
  Speaker 4: hard narratives that might be destructive narratives, it's going to
• 36:12
  Speaker 4: feel normal to you.
• 36:13
  Speaker 3: Yeah, well that's very true.
• 36:15
  Speaker 4: So it's really a mindset that has to be crafted
• 36:21
  Speaker 4: for yourself that that doesn't include some of those things.
• 36:25
  Speaker 4: And it's hard when you've maybe been associated or grown
• 36:29
  Speaker 4: up around a money environment that is that is somewhat toxic.
• 36:34
  Speaker 2: And that's great information as always with John Burdett for
• 36:37
  Speaker 2: Fourth Avenue Financial. Lots of great insights in here with
• 36:39
  Speaker 2: your trying to plan for your financial future. A lot
• 36:42
  Speaker 2: of hurdles out there, but it can be done. And
• 36:44
  Speaker 2: John Burdett can help you over at Fourth Avenue Financial.
• 36:46
  Speaker 2: Let me make sure you have all the information. First
• 36:48
  Speaker 2: of all, this show is every Monday morning at eight
• 36:49
  Speaker 2: twenty Right here on five ad w chs. You can
• 36:52
  Speaker 2: find a plethora of podcasts for the past of this show.
• 36:55
  Speaker 2: If you go to whstwork dot com slash retire right,
• 36:58
  Speaker 2: We've got years worth of stuff on there. You can
• 37:00
  Speaker 2: go back and see just how right John is all
• 37:02
  Speaker 2: the time. More information online Fourth Avenue Financial dot com,
• 37:05
  Speaker 2: Fourth