Latest / WCHS Network Podcasts / 05-31-2024 Retire Right Radio with John Burdette from Fourth Avenue Financial

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05-31-2024 Retire Right Radio with John Burdette from Fourth Avenue Financial · WCHS Network Podcasts

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offer Throughjenibuc Advisors Incorporated. This is Retire Write Radio, a weekly show from
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John verdet at Fourth Avenue Financial that aims to answer your questions about financial planning,
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On Retire Right Radio, let's go live to the studio with host Dale
3:00
Cooper and John Vernett from Fourth Avenue Financial, and very pleasantive morning to you
3:13
you're listening to, eventually asked the expert on WCHS, The voice of Charleston.
3:16
I'm Deale Cooper. Thanks for tuning in on this this Friday morning,
3:21
and we'll just pretend everything's completely normal. Hey, it's a great it's a
3:23
fantastic day. You're listening to WCCHS, the Voice of Charleston. That I
3:29
want to remind you that we're going to have exclusive coverage of the state high
3:32
school baseball tournament that's going to be coming up on our sweetest stations this morning
3:37
at nine forty five, we'll have the winfield game that's going to be on
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Charleston Sports Radio one oh six seven and fourteen ninety WSWW, and we'll actually
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have Herbert Hoover on the radio on WCCHS this afternoon. We're expecting first pitch
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to be right around noon, probably a little bit later than that, and
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you'll be able to hear that game for the folks down in Hoover over on
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or right here on WCHS. That's one of four point five ninety six point
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five and five ADWHS. Also on line WCHS network dot Com you'll be able
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to stream it over there as well. So that's what's coming up today as
4:10
we continue our coverage looking at the high school baseball tournament. Pretty good.
4:13
GW has already punched their ticket. They're going to be in the championship games
4:16
tomorrow. Yeah, they are wrapping the year up. I mean, my
4:20
kid's been out of school now and they're still playing ball. Huh. I
4:24
know. It's weird that the way that works, isn't it? The way
4:26
that the season wraps up and you still have people that's graduated, and it's
4:31
wild. It's it's kind of a weird, weird thing. John Burdett,
4:34
of course, is here from Fourth Avenue Financial. This is retire Right Radio.
4:38
We were off on Monday, of course, so we had to do
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a special episode for today, and so that's where we are. You can
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give us a call this morning at three zero four three four five fifty eight
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fifty eight three four five fifty eight fifty eight. Say hey to Jeff over
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there. He's our producer this morning, and you can get on the air
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with John Berdett for Fourth Avenue Financial. You can text over any questions you
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have to three zero four non three five five zero zero eight. Three zero
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four none three five five zero zero eight will get you a text line in
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on the text line as well, any questions that you have here more and
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welcome to call in and also more information online Fourth Avenue Financial dot com and
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do that same search on Facebook and you can like the page over there.
5:15
We'll be on the air at some point here over the next well probably seconds
5:19
now. As far as inflation data goes, that's one of the next big
5:23
indicies that come out, and that's coming out this morning. Yes, should
5:28
be released any minute now. But that's that will be a big one for
5:32
the market. You know, the market's been hoping for moderating inflation and this
5:35
is the I believe it's the PCEE personal consumption expenditures, which I believe the
5:43
FED that's their preferred gauge. I believe zero point three percent is the expected
5:49
number that comes out. So we'll see if it comes in on target or
5:54
hotter light and and that will I'm sure have some effect in the market.
5:59
So for this number, as far as as how we're individually looking at that
6:02
point three we want it to be that number or a little lower if there
6:06
if anything, I mean, yes, the idea or ideal is that inflation
6:12
has continues to moderate and h and there again that that is the slowing of
6:17
price increases. That is not price decreases we're talking about. So when when
6:21
that number comes in, let's say it's at point three, that still means
6:26
prices rose over over time. Just the rate of price increases has has slowed
6:32
to a more a number that that we're more accustomed to over over you know,
6:40
the past twenty or thirty years is it's try not to choke, to
6:48
choke to death when it comes to we just had the school graduation. Of
6:55
course, folks that are going to be youngsters that are going to be moving
6:59
on youngsters. What am I like ninety seven that it gonna be moving on
7:01
from high school going on to college or not. It's hard to tell exactly
7:05
where you're going as far as that goes. But looking at the parents that
7:09
have either seniors or rising seniors, you know, maybe you have that junior.
7:13
Now you're looking side out over and being like, oh, senior year
7:15
next year, and we have all of this ahead of us that that we
7:20
have to worry about. It might be that person might be a little bit
7:24
behind the eight ball. But whether it be that person or somebody who's five
7:27
or six years down the line, if you set your expectations, maybe a
7:31
decade ago when you first had your child or something like that. As far
7:34
as what the cost of college might be in things like that, it's that
7:36
something that's worthwhile reevaluating with your financial advisor. Costs have aspiraled quite a bit.
7:43
It might be something you need to look at reevaluating a little bit to
7:46
make sure you're putting enough away that you have your right balances on your accounts
7:48
and things like that. Yeah, you know, for the last twenty years
7:51
plus, if you look at the inflation rate and the components of that at
7:58
higher education is one of the cost that has Excuse me, I've got the
8:01
same thing going on. Yeah, that's not good. One of those costs
8:05
in the in there that has risen faster than the overall rate of inflation.
8:11
And you know that's why you see, like, why is college seeming so
8:15
expensive, Well, it's because it's outstripped the other other other prices that are
8:22
in the economy and wages that are in the economy. So you know,
8:26
that is a big issue. You know, it's the same thing with housing.
8:31
Uh, you know, housing has lately outstripped the inflation rate and and
8:39
that's why housing seems like it's it's not as affordable as it used to be.
8:45
And and you know, fortunately for somebody planning for retirement, those two
8:50
things are not uh, they go in the overall inflation rate, but fortunately
8:54
they are not included for most people, UH in retirement. You know,
8:58
you usually aren't in retirement paying for college expenses and UH and buying houses typically
9:07
typically you've done that earlier in your in your life. So or if you
9:11
if you own a house, even if you have a mortgage, it's somewhat
9:15
hopefully fixed and and that cost doesn't escalate over time, so when you buy
9:18
the house, you're fixing that cost to a degree. So you know,
9:22
inflation affects people differently depending on the stage of life and the and the actual
9:28
items that they're consuming. You know, obviously food prices are up. That
9:33
affects everyone. Everyone has to eat. But but certain components are certainly specific
9:37
to people's individual situations, which explains a lot about the UH seems to the
9:43
multiple directions that people pull their sentiments about the economy and things along those lines.
9:48
Because it is very true that you have your own personal truth and it
9:50
doesn't mean that you're that you're experiencing things wrong or your your your opinions wrong
9:56
or something like that. You literally have an individual life and and uh,
9:58
you're learned experience is gonna be different from somebody else's, right. I mean,
10:01
the economy right now, no doubt, would be tougher than it has
10:05
been for for for instance, younger people that are just forming families that don't
10:09
have houses, which is why you see a lot of frustration there. Absolutely,
10:11
And and somebody that's closer to retirement that has assets that they've they've accumulated
10:16
over the years. You know, it doesn't bother them that house prices are
10:20
going up because they own houses, So that's that actually looks good on their
10:26
balance sheet. You know, if you have savings that we're earning, you
10:28
know, we're earning less than one percent a couple of years ago. Now
10:31
you're getting four or five percent on that savings, you know, if you're
10:35
in that position and stage of your life. So I think that is why
10:39
we're seeing such a The statistics look good in the economy overall, but there
10:46
are real pockets of people that are that are pinched about what's been going on.
10:52
One of the things we talk about sentiment in the economy a lot,
10:54
and how that will drive even more than data. Sometimes that will drive people's
10:58
reactions on things. And I noticed I read this the other day, and
11:01
this is actually one of the things I wanted to talk to about. I'm
11:03
glad that I remembered it. I read this the other day and I thought
11:07
that it was a really a pretty insightful opinion, and it was talking about
11:11
how again, it's like you can call it memification or the tictokification of opinions
11:18
and of youth and things like that, especially, And I don't want to
11:20
sound like, get off my lawn, but there is this this vibe there,
11:26
there's this there's this meme that goes around that's like, here's Homer Simpson's
11:30
house. Homer Simpson bought this house. A man without a college education and
11:35
was able to support a family of five with with without a college education and
11:39
working just one job. And he buys this house and it was this nice
11:43
house, et cetera, et cetera. And then it will show like,
11:45
you know, the the the al Bundie house. He's a shoe salesman and
11:48
he had this huge house, and this is how this is the way your
11:50
parents grew up, and this is unrealistic for us. Today, and I
11:54
want to throw a penalty flag because and and the and the reason I do
11:58
that. Part of it, I think is the sentiment there is that,
12:03
well, there's nothing I can do, like the deck is stacked against me.
12:05
There's nothing I can do for my retirement. My mom and dad and
12:09
my grandma and grandpa had it easy. You know, there's no way that
12:11
I can do this. Look at how you could buy a house for six
12:13
dollars and twelve cents back in the day, and they were making four dollars
12:16
an hour. How easy could have been the truth of the matter, Both
12:20
of my parents had decent jobs growing up and for a long portion of my
12:24
of my time as a childhood, and they were both hard workers. Nothing
12:26
wrong with our family at all from that perspective. And for a long portion
12:31
of my childhood we lived in a single wide on a dirt road. There
12:33
was no Homer Simpson, one family, one single income that bought a huge
12:39
house in the suburbs somewhere. That is a fantasy, right right, largely
12:43
for most people, there is there's no doubt about that. I mean,
12:46
that is that's Hollywood, right, that's that's yeah. Don't get you don't
12:50
get I know that that the youth out there. I think the Simpsons is
12:52
some kind of like predictive thing for the future. Whatever. Don't get tied
12:56
up upside down on that and have it actually influence and up hanging you have
13:00
about reality. Well, you know, if you look at the statistics,
13:03
I think it's slowed down somewhat, but the average house has continued to get
13:09
larger in the United States, the average quality of living for most people over
13:13
time has progressed and marched forward. And so you know, like I say,
13:20
there are pockets of people at various times that feel the pinch of things,
13:24
but progress has still taken place over time. And yes, a house
13:31
does cost more of your take home pay than it used to, but other
13:33
things are cheaper. You know, take a look at the electronics we use
13:39
that weren't even part of our life before, and those prices have continued to
13:43
fall, which makes us more efficient and makes us more productive, and all
13:48
of those things factor in over time. You know. Real estate is one
13:52
of those things that's it's fixed because there's only so much of it to go
13:56
around. You know, there's a limited supply, so it you know,
14:00
logically might make sense that it's escalated a little faster, even if you just
14:03
look at the raw materials and the technology that goes into buying house. I
14:07
know that the price of things have escalated, but a lot of that goes
14:09
into just like our cars, is the things that we have that we put
14:13
into our houses. Now. You know, your grandpa and grandma probably didn't
14:16
have an HVAC system, you know, and we've come through the system.
14:18
We've come through it now where those were really expensive at one time, and
14:22
they've dropped somewhat in price, but that's still a huge investment. It's a
14:24
maintenance investment in things along those lines. More and more people want things like
14:28
pools and things like that. I mean, it's not that pools are unique
14:31
now, but it's not something that every house has, but it's something that
14:33
a lot of people demand more so than what they used to. Well,
14:37
like you say, the houses that are being built today don't look like the
14:41
houses that were built in the forties, you know, so clearly you're getting
14:45
something different as far as a product with the new house today. I mean,
14:50
you know, the house I grew up in, it's fine house,
14:54
fine neighborhood, but you know, the kitchen was a third of the size
14:56
of the rumor in right, right, yeah right. They don't build new
15:00
houses with kitchens like that anymore, with bathrooms that. Yeah, I had
15:05
a closet for a bathroom in my house before I remodeled it. I had
15:07
a closet for a bathroom. It was one bathroom house and it was the
15:11
size of a close. So speaking of closets, look at an older home.
15:13
There are very few closets in order because people didn't own very many clothes.
15:20
So there's absolutely true all of those things. You have to look at
15:24
how many garages you have, the size of the parcels of land, I
15:26
mean there we've expanded as a as A as A, as A as Americans
15:31
you know, are just like car. You know, cars are the same
15:33
way. The features on a car now can't compare to a features in a
15:39
car twenty years ago, and some of the price increase is due to the
15:41
fact that cars do different things now, have different features that didn't even exist
15:48
before. Remember when the benchmark that all the manufacturers bragged about was one hundred
15:52
thousand miles, right, you know that's very common now, you know,
15:56
I mean one hundred thousand miles of your car is just getting broke in.
15:58
For the most part, that's just funny because we also uh suffered through this
16:03
functional obstinence that we have in all of our technology that's to get you to
16:06
repair the vehicles and then and then you get frustrated with it. At near
16:10
the end of your loaning, you're traded in. And that's how that whole
16:11
circle of thing things work. But it's still it's still I think pretty true.
16:15
Although I'm I talked to Larry Dawson about this all the time. I
16:18
am convinced that if a if a trustworthy manufacturer came out with a vehicle that
16:23
was mostly analog and mostly mechanical, that that thing would sell like Gangbusters,
16:30
like uh that had very little uh like the very basics of like electronics and
16:36
technology and it and otherwise it was all mechanical. I think that people would
16:40
buy that. There's certain people that would buy that. I think pretty really.
16:42
I bought a uh actually yesterday a cargo van uh for for my wife's
16:48
business uh that she's getting ready to start. So you know, you go
16:53
through the process of looking at this thing and and I feel like, you
16:59
know, I need to in the hood and look at the end. Why
17:02
am I doing this. It's just like a It's just like a plastic insert
17:03
on top of It's like you can't see it. It's like there's nothing I
17:07
can see there, and if I could, I wouldn't know what it was.
17:08
Anyway. It's like back when we were growing up, you could take
17:11
a look at the carburetor. You know, it looks like the distributor caps.
17:14
Okay, on there, let's take a look at the spark plug.
17:15
Okay, whatever. I'm not in a car guy, but I can look
17:18
at this. Ay, and it's an engine, all right, But I
17:19
feel like that's part of shopping for a car. I have to look at
17:22
the end. I'm right there with you as far as that goes. It's
17:26
really funny the way those things have changed. Have you got your data yet?
17:29
We can we take a break, come back and talk about the inflation.
17:32
Inflation report is out and as far as I can see, it looks
17:37
like it is in line. Okay, So so at least it's not a
17:41
surprise, because we've had a couple of surprising numbers in the last few things
17:45
that have been reported. So it's nice that something may be settled in where
17:47
it was expected to At least. Yeah, yeah, I'll dig a little
17:49
bit more in the break and see what's under the hood there. But speaking
17:53
of looking under the hood, yeah, hey, that brings it all around.
17:57
That's right. Let's go ahead and take a break. I want to
18:00
get a traffic report in here, quick break, and then we'll come back.
18:02
We'll talk a little bit more about that. And hey, you can
18:03
direct the conversation as well. Anything you want to talk about this morning on
18:06
how you can retire right, how you need to do your financial planning.
18:08
Maybe you want to help a loved one and and an uncle, a mom
18:11
or a dad, or maybe your kid who we were just talking about graduation,
18:15
Well, maybe they graduate college and you're looking for making sure that they
18:18
have a right foot going forward. You want to give right advice that maybe
18:22
reform over to John. Whatever you want to do, you can give us
18:25
a call this morning. Three zero four three four five fifty eight fifty eight
18:26
three four five fifty eight fifty eight. You could text over your questions to
18:29
three zero four non three five five zeroser eight. Thanks for sticking with us.
18:32
We're gonna take a break and be back after this. You're listening to
18:33
retire right ready with John Burdad. I'm Del Cooper. This is five ADWCHS,
18:37
the Voice of Charleston. They say roads are made for journeys, not
18:41
destinations, and now that I'm retired, I make a point to journey as
18:44
much as I can. But when night driving became a challenge, my son
18:48
and I decided it was time for a doctor's visit to ensure my safety behind
18:52
the wheel. I was worried, but instead of restrictions, we discuss solutions
18:56
to make sure I can continue on my journeys. Aging can alter how we
19:00
drive. Take charge of your safety and independence by evaluating your driving skills regularly.
19:03
Learn more at staysafewv dot com. This message is brought to you by
19:07
the West Virginia Governor's Iway Safety Program. Make sure you're retirement ready with City
19:11
Wealth Management, a division of City National Bank. Call your local city branch
19:15
to schedule a complimentary review of your current accounts. This is retire Rife Radio
19:21
with John Verdett from Fourth Avenue Financial, taking your calls at three oh four
19:26
three four five fifty eight fifty eight or texts on three oh four nine three
19:30
five fifty oh eight. You're listening to the voice of Charleston FADWHS. This
19:49
is retire Right Radio. This is Friday. Our weekend is right around the
19:52
corner. Last time I checked, the weekend looked pretty decent. I think
19:56
Saturday a little better than Sunday if I remember correctly. I haven't checked in
19:57
a couple days thought to be completely honest with you, so hopefully we have
20:00
a decent weekend coming up for us for all the events that's going on around
20:03
Charleston. For the high school baseball tournament. Quick story I'll tell about actually
20:08
hired my brother in law years and years ago here as a board op for
20:12
me doing different things like that. He's now our creative director. That's what
20:15
his degree was in. But one of the first things he did for me
20:21
for live production is he did the on site production for Metro News at the
20:25
baseball tournament. And I was really happy because I arranged for him to get
20:30
a talent fee for it. So it was like, hey, man,
20:32
I got you this. I can't remember what the dollar figure was, but
20:33
I got you this talent fee. You could go out and do this thing.
20:37
It's just three games that we're gonna be doing for the championship day.
20:38
Everything should be good. You know, it's six hours worth of work,
20:41
eight hours worth of work. You're gonna pay this much money, it's gonna
20:44
be great. They had weather all day Saturday where they tried to get in
20:48
the games, and he was sitting in that press box for the entire broadcast
20:52
window on Saturday. All the games got canceled and so they had to make
20:56
up all the games on the makeup day, which was on Sunday. Had
21:00
weather most of the day on Sunday and didn't get the championship games in until
21:03
Sunday afternoon evening. So he finally wrapped up probably eight or nine o'clock one
21:08
Sunday night or something like that. People probably remember this was probably like ten
21:11
or twelve years ago, something like that, And so it ended up his
21:15
talent fee for that basically like thirty hours worth of work. Was not a
21:21
very good hour. I thought I really set him up for a good deal,
21:25
and it was terrible. Well that's a good way to break into the
21:29
business. Yeah, yeah, sorry about that. I made I tried to
21:32
make it good in other ways, and but man I felt terrible for that.
21:37
I thought I was doing a good thing and it ended up being you
21:38
know, it didn't work out quite as well as what I was expected.
21:41
You guess a call this morning three zero four three four five fifty eight fifty
21:45
eight. You can text over any questions you have to three zero four none
21:47
three five fives years. You're a If you have any questions about about how
21:49
you can retire right about what the current market situation and so forth means for
21:56
you and for your retirement, John can help answer those questions. Threes four
22:00
three four five fifty eight fifty eight. You can text over any questions you
22:02
have to three zero four non three five five zero zero eight three zero four
22:04
non three five five zero zero eight. Touch on a couple highlights before we
22:10
uh uh as we're talking here this morning, and we've talked about this virtually
22:17
in some way, shape or form and every show. But it's really the
22:22
first step that you have to make when it comes to I mean, maybe
22:23
all you have is your four one K or something like that, and which
22:26
is fine. I mean, that's part of what it's for, but it
22:30
probably takes more than that to make sure that you're that you're going to be
22:33
solvent in your in your retired life. It's going to take a little extra
22:37
management into that sort of thing, and you need to decide to make that
22:41
step and make that dedication. Yeah, no doubt about it. I mean
22:45
taking action and being proactive rather than reactive is a is a big thing,
22:51
and well really in life, but certainly in your finances. I get a
22:56
lot of people that are nearing retirement that have questions like when should I engage
23:03
a financial advisor? You know, you've been doing it in your four O
23:06
one case saving all these years and you've got a big pot of gold there
23:11
that you're looking at. It's like, you know, how do I turn
23:14
this to income? Is it going to last? What is possible with the
23:19
money that I've that I've put together? What are the tax rules around it
23:22
with the required minimum distributions? How much tax should I withhold? As I
23:27
start to draw that out, all of those questions start circling as you and
23:33
your retirement and and the reality is, you know, you're better off talking
23:40
to a financial advisor before, you know, the day that you retire.
23:44
You want to get those questions answered and everything put in place prior to your
23:48
retiring, and it makes it so much easier to you know, get everything
23:52
in line. And it also makes it reduces the anxiety tremendously when you have
24:00
some of those questions in advance answered. And all these things work in concert
24:06
with the arc of your life. I mean, the financial planning will help
24:10
get you into retirement to have a healthy and productive retirement hopefully that you're living
24:15
that you're living pretty well. But also that helps for you, know,
24:21
with your eventual passing, if you have your estate handle correctly and you've had
24:23
if you've engaged a financial advisor that you've had throughout that actually helps with all
24:27
of that. I mean, your estate works with your planning. And the
24:32
reason I bring that up is we've had we had a recent death in our
24:34
family Christmas of last year, and I am amazed. She my aunt,
24:40
was eighty three years old, had a husband for years who was a prominent
24:45
doctor. They did all kinds of investments, bought property, stuff like that,
24:48
stuff that she never mentioned and probably forgot about over the course of time.
24:52
In these months since her passing, we have gotten notification of properties in
24:57
the Bahamas, Canada to like, there's these properties all over the world that
25:02
she owned. And at first my mom, who's the executor, was really
25:06
like, oh this, Like what am I going to do about this.
25:08
But not only did she have them, and although we didn't necessarily know about
25:11
him, her advisors did, her team that she had that was working for
25:15
her did. So it's actually been Although there's a process involved in probate because
25:19
it's a lot of stuff out of state, things like that, all the
25:22
information was right there. It was not a stress to put all those put
25:26
all the things in a road to get things together. I don't know that
25:29
an individual that was trying to manage all that stuff on their own would be
25:30
able to provide their kin after they're passing with that same sort of confidence and
25:36
progression. Yeah. Yeah, having everything. We actually have boo booklets that
25:42
we can give you that we give our clients that has all of your important
25:48
information in one location. You know your you know who your relatives are,
25:52
who your beneficiaries are, who your advisors are, who your tax person is,
26:00
as down to even things like what medications you're on. You can list
26:06
that all in this book and tell your trusted person, Hey, if something
26:08
happens, here's the information you're gonna need to help me through this. Yeah,
26:15
it seems like that that's just something that would be a nice piece of
26:17
mind I know we've done a show, a couple of shows featured on handling
26:21
your state and making sure everything gets there. But that's just that's that's a
26:22
part of it. I mean, when you look at the arc of your
26:25
life and the things that you're planning for, that has to be part of
26:26
what you plan for as well. Of course, you want to make sure
26:29
that you need that as late as possible. That's right. You know,
26:33
hopefully you can push that one off, but the event off, but you
26:38
need to do the planning today. Yeah, exactly. I think that's the
26:41
I think that's the truest part. If you're somebody out there, regardless of
26:45
where you are in your planning for your future, what whether maybe you have
26:48
you're engaged with the financial advisor, maybe you feel pretty confident with how you've
26:52
been managing your own finances for the future, or you're just starting out.
26:57
What are some some I guess questions a person can ask themselves and then the
27:03
things they need to keep in mind. Maybe if they decide to reach out
27:06
to you and say, okay, I do need to take a look at
27:07
this thing, right. I think a lot of people are reluctant sometimes to
27:12
reach out if they have a four oh one K and it's been doing well
27:18
over time, and that's their primary asset. You know, obviously, if
27:22
you have your money in a four oh one K, I can't manage that
27:26
for you. But that's that's okay. You know, if somebody comes to
27:30
me and they're going to retire two years from now and their money's all tied
27:36
up in a four oh one K, you know, we'll take a look
27:37
at it and and try to still help build a pathway, a glide path
27:44
essentially to to retirement. You know, I obviously can't manage that four oh
27:49
one k for somebody, but you know, for instance, I talked to
27:52
somebody yesterday that's retiring in a couple of years, significant amount of money in
27:57
a in a four oh one K. I can't manage that four onk for
28:02
them. But you know, through our discussion and we realize that, hey,
28:06
this guy's got all his money in the stock market, all of his
28:08
money in the S and P five hundred, And through the conversation it's like,
28:12
well, I feel like the S and P five hundred is pretty conservative.
28:17
Well, you know, that's all stock, and not only that,
28:22
it's not diversified equally across five hundred companies because it's market cap weighted, which
28:26
means, you know, twenty five thirty percent is in those seven or eight,
28:32
you know, big companies. That's not as diversified even as you think
28:36
that it is. And so does it make sense even though those things may
28:40
have worked for the last thirty years, you know, does it make sense
28:42
to start making changes to that, to moderating that, to try to reduce
28:48
the likelihood that if we do get a severe market pullback, it's not happening
28:52
right as you enter retirement. And so some of those things, like I
28:59
say, I can't in that case manage that, but I can make help
29:03
make you aware of the types of things you should be thinking about as you
29:07
prepare for retirement. And having that kind of relationship with someone that you can
29:11
that you can talk about those things with and share that information with and get
29:15
some sage council. I mean that that's valuable in itself. I mean just
29:18
be able to make those make those decisions and and and have a plan to
29:23
an act. Yeah, yeah, no doubt about it. And and there
29:26
are other ancillary things that a person might do. You know, maybe you
29:32
have maybe you're going to retire early, Well, how do you make that
29:34
bridge? You know, some of your retirement assets in your four O one
29:38
K, might I'll be able to access those without you know, kind of
29:42
jumping through some hoops until your fifty nine and a half. What if you
29:45
want to retire at fifty seven? You know, those are areas that we
29:48
can help people, you know, have a plan around. You know,
29:53
it's really when somebody comes in, it's really up to them what they what
29:57
they're trying to achieve, and then and then it's up to me to understand
30:02
that you don't tell them, you you interpret that's right, and then try
30:04
to come up with a way to achieve that and UH that in a in
30:10
a UH with the highest probability. You know, that doesn't necessarily mean that
30:15
we're always going to get the best highest return. Sometimes the job doesn't require
30:19
that. Sometimes it requires Hey, I might get higher if I do it
30:26
this way, but I also might strike out. Using back to the baseball
30:29
we've been talking, Yeah, right, you know, instead, how how
30:33
can I be fairly sure that I'm going to get over here where I want
30:37
to be with the highest probability? And and that really is what people ultimately
30:41
want to achieve. You want to achieve your goal. You don't want to
30:45
either hit a home runner strike out. You want to you want to get
30:48
on base. If that's the goal, that's what you need to to plan
30:52
around so you have a high probability of getting there. Now, I love
30:55
those analogies, the baseball analogies, I can live with any time. But
30:57
Uh, all this information in this stage, of course, and you can
31:00
find out more information online. It's worth Avenue financial dot com. Just at
31:03
about sixty ninety seconds or so, when somebody does do like a search for
31:08
your business or anything like that, one of the first things that comes up
31:11
is that that you are part of the smart Vestor pro program, which I
31:15
think is related to like Dave Ramsey and things like that. For folks that
31:18
wonder what that is. If they search for it and they see that,
31:19
what does that mean as far as conceptual conceptualization goes well with the Ramsey program,
31:26
it's it's called smart Vestor And essentially anybody that goes out there and searches,
31:32
if they wind up on on Dave's website, uh and say, hey,
31:37
I want to find a local financial advisor. We are one of the
31:40
local advisors that that that ultimately you you you get funneled to and which means
31:45
that you know, we've been screened to go through that program and uh,
31:52
counsel people in that in that direction, you know, essentially living within your
31:57
means, getting your budget right, having your emergency funds, you know,
32:04
investing the adequate amount in retirement savings, and and so on and so forth.
32:08
So there's a process that that we help guide people through that come come
32:15
from that that side of you know, the there are folks out there certainly
32:21
that that followed Dave pretty closely. He's got a very popular radio show,
32:27
and uh, and his process works. That's the that's the important thing.
32:30
And I think that's the that the system is in place and that this network
32:35
exists because the process works, it works, and and and there again,
32:39
there's not it's not always black and white. I mean sometimes on the radio
32:43
show, Dave has to be black and white, right, yeah, exactly.
32:45
You know, when you come in to talk with us, it's it's
32:47
it's not quite as black and white, because everybody has an individual situation.
32:52
Everybody's in a position in a stage of life that is different from the next
32:58
person. So we take those principles and try to translate them into Okay,
33:02
how does this work in your life? That would be an interesting point to
33:06
make. Dave might sometimes make the person on air feel a little guilty when
33:09
they're when they're talking about like a mistake that he thinks they made. That's
33:13
not your gig at all. You might, you might, you might develop
33:16
the same process to get the person in a better situation. But you're not
33:20
going to make somebody feel guilty for making a life choice at some point in
33:22
their life. You know, everybody, everybody makes mistakes and uh and certainly
33:28
where are you now? And where do you want to be? That's my
33:30
job to help you get there. It's great information as always with John Bredet
33:32
from Fourth Avenue Financial. If you listen to this program, you get ahead
33:36
of the curve a little bit on the stuff that is talked about across financial
33:38
media. You can find out more about Fourth Avenue Financial on line fourth Avenue
33:42
Financial dot com. You spell out the whole thing. Also on Facebook,
33:45
search for Fourth Avenue Financial like the page located one seventy Court Street, Downtown
33:49
Charleston. They're fund number three zero four seven four six seven doin seven seven
33:52
three zero four seven four six seven done seven seven. John will be back
33:54
on Monday, and usually every Monday, we'll see You'll see you then,
33:58
right, Take care, appreciate it, John, thanks so much that' John
34:00
Bredet for fourth Avenue Financial. I'm Del Cooper. Coming in next is Dave
34:02
Allen on five DY Live. Don't forget the high school baseball tournament across these
34:06
stations today on five ADWCHS in fourteen ninety WSWW. Have a great day everyone,
34:15
five e w c HS AMN me six point five an Charleston one oh
34:19
four point five Cross Lanes, a WVRC media station. We're proud to live
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here too,