Latest / WCHS Network Podcasts / 09/30/2024 Retire Right Radio with John Burdette

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09/30/2024 Retire Right Radio with John Burdette · WCHS Network Podcasts

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Speaker 2: The views and opinions expressed on this program do not
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Speaker 2: necessarily reflect the views and opinions of five eight WCCHS
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Speaker 2: its employees or WVRC Media. Tire Right Radio a weekly
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Speaker 2: show from John Verdet at Fourth Avenue Financial that aims
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Speaker 2: to answer your questions about financial planning, investing, and how
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Speaker 2: to retire right. Fourth Avenue Financial is located in downtown
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Speaker 2: Charleston at one seventy Court Street. More information online at
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Speaker 2: Fourth Avenue Financial dot com. Join the conversation by calling
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Speaker 2: three oh four three four five fifty eight fifty eight
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Speaker 2: or text three oh four nine dream five fifty oh eight.
0:52
Speaker 2: On retire Right Radio, let's go lide to the studio
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Speaker 2: with host Dale Cooper and John Verdett from Fourth Avenue Financial.
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Speaker 3: Measure and I really look good morning to you. You're
1:05
Speaker 3: listening to ask the expert. WCHS The voice of Charleson.
1:07
Speaker 3: I'm Del Cooper. Thanks for tuning in on this Monday
1:09
Speaker 3: morning to retire Right Radio. John Burdett from Fourth Avenue
1:12
Speaker 3: Financials in studio with us this morning. John, good morning.
1:14
Speaker 3: How you doing this morning? I'm doing pretty good. Appreciate
1:17
Speaker 3: your time and being here. Let me get our contact
1:18
Speaker 3: information out so you could get ahold of us this
1:20
Speaker 3: morning retire Right Radio. You can give us a call
1:22
Speaker 3: this morning at three zero four three four five fifty
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Speaker 3: eight fifty eight if you need some instruction on how
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Speaker 3: you can retire right Financial planning into your future three
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Speaker 3: zero four, three four five fifty eight fifty eight. You
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Speaker 3: can also text over any questions you have to three
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Speaker 3: zero four non three five five zero zero eight three
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Speaker 3: zero four non three five five zeros your eight. I'll
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Speaker 3: give you the rest of the contact information. Another information
1:39
Speaker 3: as we go along today. You can find the website
1:41
Speaker 3: in the Facebook page. You do a search for either
1:43
Speaker 3: at at Fourth Avenue Financial and fourth Avenue Financial dot com.
1:47
Speaker 3: You just spell out the whole thing to define the
1:50
Speaker 3: information there. So John, how you doing? It's uh man,
1:53
Speaker 3: it's almost today's not quite ocsiber right now. I can't
1:55
Speaker 3: keep anything trade anyway get me close. Halloween month is
1:58
Speaker 3: right around the corner from it's just a couple days away,
2:00
Speaker 3: so and we literally just have a couple months left
2:02
Speaker 3: in the year. Pretty amazing, Uh, pretty amazing that that
2:05
Speaker 3: that we've come this long. It's it's been an interesting year,
2:08
Speaker 3: a lot of ups and downs when it comes to
2:10
Speaker 3: the market. But now we're transitioning into Uh, I guess
2:15
Speaker 3: we're not so much worried about inflation and stuff anymore
2:17
Speaker 3: unless it's more natural occurring inflation. I guess.
2:21
Speaker 4: Yeah. Now now pretty much it's the inflation is most
2:26
Speaker 4: people haven't in the rearview mirror. The direction of interest
2:30
Speaker 4: rates is somewhat known, and and everybody now is focusing
2:34
Speaker 4: on the uncertainty of the election coming up.
2:36
Speaker 3: Which means everything's relatively normal, I mean to some degree,
2:40
Speaker 3: because that's what always happens around elections. How it's not
2:42
Speaker 3: that people there hasn't been like resorting of people are
2:44
Speaker 3: still trying to figure things out. But as far as
2:47
Speaker 3: performance and things go, I know that we've we've reached
2:50
Speaker 3: some new highs as of late what was the last week, like.
2:53
Speaker 4: More recordized, So it's not bad. Yeah, yeah, it just
2:56
Speaker 4: keeps chugging along climbing that wall worry that people have
3:00
Speaker 4: about the about the upcoming election. You know, it just
3:04
Speaker 4: shows that staying the course is usually the right path
3:10
Speaker 4: of given the news and the concern people have. It's
3:14
Speaker 4: just keeps plowing ahead.
3:15
Speaker 3: We still see in a general broadening of the market
3:18
Speaker 3: as it's as it's accelerating. Some different industries that are
3:22
Speaker 3: that are leading the way.
3:24
Speaker 4: Yes, I mean it's it is definitely more broad. The
3:29
Speaker 4: SMP and the Nasdaq are are kind of neck and neck,
3:33
Speaker 4: so so it's a little more broad. The SMB has
3:35
Speaker 4: a lot more you know, things that are not necessarily
3:40
Speaker 4: tech stocks in there. So of course the text stocks
3:44
Speaker 4: are heavily weighed in the S and P five hundred.
3:47
Speaker 4: But we are getting a broadening of the market for sure.
3:49
Speaker 3: If not that people didn't lose obviously have some problems
3:54
Speaker 3: during the whole course from twenty eighteen forward to now,
3:58
Speaker 3: I mean we're looking at I mean, it's a unbelievable
4:00
Speaker 3: to think it's been six years within this cloud of
4:05
Speaker 3: COVID like stuff. It's just been insane that that's been
4:08
Speaker 3: the case. But because and I think it's interesting we
4:11
Speaker 3: talk about on this show all the time, there were
4:13
Speaker 3: massive disruptions and problems and stuff during the course of COVID.
4:16
Speaker 3: We remember how dark some of those days were, where
4:20
Speaker 3: we were doing shows by phone and didn't see each
4:22
Speaker 3: other for weeks and different things like that. But if
4:24
Speaker 3: you rode through and probably had somebody helping you out
4:28
Speaker 3: with some strategies like yourself, and took the care to
4:32
Speaker 3: understand what was happening and not panic too much, stay
4:35
Speaker 3: the course where you could reallitate, where you could understand
4:38
Speaker 3: the changing landscapes with some expert advice, you would have
4:42
Speaker 3: come out of everything pretty okay. From all this. You
4:46
Speaker 3: should be fine, no doubt about it.
4:48
Speaker 4: I mean, you know, folks are always well.
4:50
Speaker 3: You know.
4:53
Speaker 4: There again, politics can sometimes cloud and it's real heavy
4:58
Speaker 4: right now, cloud the actual reality of the of things.
5:04
Speaker 4: You know, when the last gun was president, my four
5:08
Speaker 4: O n K is at record highs. Well that that
5:10
Speaker 4: was true, right, but it it is today too.
5:14
Speaker 3: You don't hear nobody saying that it's.
5:17
Speaker 4: The reality is the politics and the market are two
5:20
Speaker 4: separate things. You know. It can policy influence certain sectors
5:25
Speaker 4: of the market, or yes it can, but but by
5:29
Speaker 4: and large these companies are out there serving people. Do
5:33
Speaker 4: it making profits and doing the best they can to
5:35
Speaker 4: do that, and and over time they they do a
5:39
Speaker 4: pretty good job at that. You know, if you just
5:41
Speaker 4: look at the earnings track of the of of the
5:45
Speaker 4: average stock, I mean, earnings are at record high So
5:50
Speaker 4: go back ten years and they were they were record
5:54
Speaker 4: highs then too. I mean, it's just it's just the
5:56
Speaker 4: way things progress over time.
5:59
Speaker 3: It's it's pretty fascinating if you look at it from
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Speaker 3: an analytical standpoint and you try to peel away all
6:05
Speaker 3: the layers, because not only is there a political layer
6:07
Speaker 3: that's kind of tied into the political layer a lot
6:09
Speaker 3: of times is depending on who you are, like this
6:12
Speaker 3: anti corporate feeling or the super pro corporate feeling, you know,
6:16
Speaker 3: you have the different aspects of looking at that. But
6:19
Speaker 3: it's amazing just from almost like a clinical standpoint, it's
6:23
Speaker 3: dang impressed of the resiliency of companies. Whatever else that
6:27
Speaker 3: you that you that rolls into that, but the resiliency
6:29
Speaker 3: of companies to be able to find their way through
6:32
Speaker 3: because we all know how hard it was as individuals
6:34
Speaker 3: to you know, when when all this stuff was happening.
6:35
Speaker 3: But and of course that's what they're they're they're that's
6:38
Speaker 3: what CFOs are meant to do. That's what CEOs are
6:41
Speaker 3: meant to do. That I mean, I know that that's
6:42
Speaker 3: kind of the goal. But it's amazing how many of
6:44
Speaker 3: these companies do find their ways through these things and
6:46
Speaker 3: and come through the other side, generally speaking, oftentimes stronger.
6:50
Speaker 4: Yeah. Well, you know, we've talked about this before about
6:53
Speaker 4: how policies are not They don't cut always the way
6:58
Speaker 4: you imagine they do. I mean, just get interest rates. Yes,
7:01
Speaker 4: they hurt certain people when interest rates were higher, if
7:05
Speaker 4: you were trying to buy a house, for instance, for
7:07
Speaker 4: the first time, things like that, but it also helped
7:10
Speaker 4: a lot of people that had savings and cash on
7:13
Speaker 4: the sidelines that he was earning nothing and all of
7:16
Speaker 4: a sudden that it is so you know, it's so
7:18
Speaker 4: hard to predict how these little changes actually play out
7:22
Speaker 4: in the economy, and sometimes the result is the opposite
7:25
Speaker 4: of what you might logically piece together that will happen.
7:30
Speaker 4: It's very difficult to predict the market.
7:34
Speaker 3: When we come to this time of year. And because
7:38
Speaker 3: I've made note on this show this is a very
7:40
Speaker 3: lay person evaluation of things. But what I've noticed, of course,
7:44
Speaker 3: is the difference between the financial section of broad newspapers
7:49
Speaker 3: and magazines and stuff like a USA Today, and what
7:51
Speaker 3: you get when you really dial into folks that follow
7:54
Speaker 3: financial news and things like that. It's almost like two
7:56
Speaker 3: different realities sometimes, you know, with the way things are covered.
8:00
Speaker 3: Somebody that maybe tends to get a little emotional around
8:02
Speaker 3: election times or things like that. I mean, it's not
8:04
Speaker 3: that far away. It wouldn't be the worst thing in
8:07
Speaker 3: the world. Just be like, hey, I'm not looking at
8:08
Speaker 3: anything for a while. I'm pretty good right now. I
8:12
Speaker 3: know things are all going to be okay on the
8:13
Speaker 3: other side of things. Why don't you just put my
8:15
Speaker 3: blinders on for about six weeks, come out the other side,
8:18
Speaker 3: and I should be fine. Yeah.
8:19
Speaker 4: And you know, historically the market does really very well
8:24
Speaker 4: after an election.
8:25
Speaker 3: Right, Yeah, That's what I mean is after the election,
8:27
Speaker 3: you're going to look at and be like, oh, everything's okay.
8:29
Speaker 4: Yeah, I mean, there will be some certainty around that,
8:34
Speaker 4: you know, what are the policy changes. Maybe that may
8:37
Speaker 4: happen and people can make their adjustments around that. But
8:41
Speaker 4: typically the first week after the election there is some
8:46
Speaker 4: There can be some volatility historically, but very mild. I
8:51
Speaker 4: mean we're talking historically less than one percent over time,
8:57
Speaker 4: and and then a month out the market buying large
9:01
Speaker 4: is usually up. Historically, that doesn't mean it's gonna happen
9:04
Speaker 4: this time, but but but that is, you know, they're
9:07
Speaker 4: they're really Historically if you look back, there's there's really
9:11
Speaker 4: not a lot of doom and gloom out there. So
9:16
Speaker 4: you know, you're buying earnings. You're not buying a politician,
9:21
Speaker 4: you know, that's what you have to focus on. What
9:23
Speaker 4: companies do you own? And are they making money? Are
9:26
Speaker 4: they are they serving their people well? And if that's
9:28
Speaker 4: the case, that will probably be the case after the election.
9:31
Speaker 3: Because they're not going to take their ball and go
9:32
Speaker 3: home just because their guy didn't win the election or
9:34
Speaker 3: whatever it might be. Right, you know, they're still going
9:36
Speaker 3: to try to make money.
9:37
Speaker 4: It's just like you, you know, you're gonna wake up
9:39
Speaker 4: the day after the election and and you're gonna brush
9:42
Speaker 4: your teeth, and you're gonna drive your car and fill
9:44
Speaker 4: it up with gas, and you're gonna put on your
9:46
Speaker 4: clothes and and all of those things. And that's economic activity.
9:51
Speaker 4: And that doesn't change because of a changing person in
9:55
Speaker 4: the in the White House. And if in reality is
9:58
Speaker 4: if we get policies and they get really too screwed up.
10:02
Speaker 4: We've got another election around the corner.
10:05
Speaker 3: That's a good thing about democracy. I guess it is
10:07
Speaker 3: it that's that tends to be the way that it works.
10:11
Speaker 3: I just sometimes I think about all this, and we
10:15
Speaker 3: tend to people tend to pick fights when it comes
10:19
Speaker 3: to like with corporations and different things like that, because
10:21
Speaker 3: they expect for corporations to be personal entities and to
10:25
Speaker 3: stand for one thing or another, or to be part
10:27
Speaker 3: of one or another type of cultural movement or anything
10:30
Speaker 3: like that. But the bottom line is, I just think
10:32
Speaker 3: it's amazing that you find these companies that that really
10:35
Speaker 3: you just keep your head down and keep doing the job.
10:37
Speaker 3: A lot of the times some people get involved more
10:39
Speaker 3: than others and try to put their finger on the
10:42
Speaker 3: scale whatever it may be. But for the for the
10:43
Speaker 3: most part, UH, these publicly traded companies are just going
10:46
Speaker 3: to do like It's not that they're a political obviously
10:48
Speaker 3: they probably have some preference on mine, but they don't
10:51
Speaker 3: just get poudy and and complain about everything when things
10:55
Speaker 3: don't necessarily go o their ways. They're they're there for
10:56
Speaker 3: a job, and I think to some degree and this
10:59
Speaker 3: is a very odd way to come around to make
11:02
Speaker 3: that point, but I think all of us could take
11:04
Speaker 3: a little bit from that, you know. I mean a
11:06
Speaker 3: lot of times we're talking about to personalize corporations, but
11:09
Speaker 3: maybe we need to depersonalize ourselves just a little bit
11:11
Speaker 3: when it comes to doing business.
11:13
Speaker 4: Yeah, definitely step back and try to calmly look at
11:18
Speaker 4: the numbers and see what's actually happening, and that sober
11:24
Speaker 4: assessment usually is the right way to approach that, you know,
11:29
Speaker 4: when we look at policies over the years and political changes.
11:34
Speaker 4: You know, back in the I don't know when it
11:37
Speaker 4: was the fifties or something like that, the tax rates
11:40
Speaker 4: on the top were astronomically high, you know, seventy plus percent.
11:46
Speaker 4: It's like how on earth. Well, if you just read
11:48
Speaker 4: that headline and say, well tax rates were seventy some percent,
11:52
Speaker 4: that sounds like how on earth did we function that way? Well,
11:58
Speaker 4: that was the rate, but nobody actually paid it because
12:00
Speaker 4: there were so many deductions and loopholes and things that
12:03
Speaker 4: were in there. And so I think that is a
12:06
Speaker 4: mistake too that even today happens. You know, you see
12:10
Speaker 4: the headline policy, but you don't see all the things
12:12
Speaker 4: underneath it that that somewhat create other opportunities or mitigate
12:20
Speaker 4: that headline in some fashion. Like I say, these policies,
12:24
Speaker 4: they're not always clear cut and one sided. Yeah, right,
12:29
Speaker 4: And I think that's why companies do so well at
12:33
Speaker 4: making those maneuvers, because you know they're usually if this,
12:37
Speaker 4: if this door closed, as something else opens, and it's
12:40
Speaker 4: just a matter of understanding what that is and then
12:44
Speaker 4: and then walking through.
12:45
Speaker 3: Threes are four three four five fifty eight fifteen. If
12:47
Speaker 3: you have any questions, threes are A four three four
12:49
Speaker 3: five fifty eight fifty eight about your financial future, if
12:51
Speaker 3: you need some help with your financial planning for your
12:54
Speaker 3: future for you and your family gives to call this
12:56
Speaker 3: morning three zerre A four three four five fifty eight
12:58
Speaker 3: fifty eight. John B. Datus here from four with Avenue
13:00
Speaker 3: Financial bi able to help you out with your strategies
13:02
Speaker 3: for helping you towards retirement on how you can retire
13:05
Speaker 3: right this morning three zero four three four five fifty
13:07
Speaker 3: eight fifty eight three z or A four three four
13:08
Speaker 3: five fifty eight fifty eight. If someone is if someone
13:11
Speaker 3: is looking to move from like your standard, like somebody
13:15
Speaker 3: has a four to one K and a savings account
13:16
Speaker 3: or something along those lines, and we've talked about that
13:18
Speaker 3: a lot of times. You get you can contact the
13:26
Speaker 3: jobberdat to Fourth Avenue Financial and of course that you
13:28
Speaker 3: can start diversifying your portfolio and things like that. But
13:31
Speaker 3: as far as physically what that means to somebody, what
13:34
Speaker 3: they see from paycheck to paycheck difference, As far as
13:37
Speaker 3: what that goes, that's it's a seamless integration. As far
13:40
Speaker 3: as that goes too, You're not going to see anything.
13:42
Speaker 3: You can set it up through your payroll company everything
13:44
Speaker 3: for that to be just as seamless as simply donating
13:46
Speaker 3: to your four one K.
13:48
Speaker 4: Yes, I mean we typically are not going to do
13:50
Speaker 4: that out of their paychecks, but out of their you know,
13:53
Speaker 4: out of a bank account.
13:54
Speaker 5: So you can do it automatically, yes, an automatic and
13:57
Speaker 5: so if you you know, want to find a an
14:00
Speaker 5: Ira or a roth Ira for instance, you know, we
14:03
Speaker 5: can pick the investments and you can systematically make contributions.
14:07
Speaker 4: Through the auto draft out of your out of your
14:10
Speaker 4: bank account at the same day every month. So it
14:12
Speaker 4: becomes like clockwork, like habit, just like your four owin k.
14:17
Speaker 4: Anytime you can automate a process. That's a good thing
14:20
Speaker 4: because it takes the emotion away, you know, the the
14:26
Speaker 4: inclination to think that you can time the market. I'm
14:29
Speaker 4: not going to make the contribution this month. I'll make
14:31
Speaker 4: it next month and I'll double it up because I
14:34
Speaker 4: think this will happen. That that is, you know, the
14:37
Speaker 4: best time to invest your money is when you have
14:40
Speaker 4: it to invest. Is you know, you don't have a
14:43
Speaker 4: crystal ball. And if you did in an article that
14:46
Speaker 4: I just saw this bread this morning, if you did,
14:50
Speaker 4: it probably wouldn't help you. An interesting article I came
14:55
Speaker 4: across that did a study of it was one hundred
15:01
Speaker 4: and some trained young financial professionals and they were given
15:06
Speaker 4: a Wall Street Journal a day in advance. In other words,
15:09
Speaker 4: they were behind on the news, and it said to
15:11
Speaker 4: invest your money based on the news stories in the
15:14
Speaker 4: Wall Street Journal. And they track them and half of
15:19
Speaker 4: them still lost money. Wow, by trying to, you know,
15:23
Speaker 4: use the news to pick and choose the type and
15:27
Speaker 4: investments they should buy.
15:29
Speaker 3: So it really is where you could where you can
15:31
Speaker 3: gain yourself into being too clever by half and trying
15:34
Speaker 3: to anticipate and to well. This means that I think
15:37
Speaker 3: about sports analysis all the time, and I'm convinced that
15:43
Speaker 3: seventy eighty percent of the time a sports analysis is
15:45
Speaker 3: somebody just picking a rote saying that's been said forever
15:49
Speaker 3: and applying it to a situation because it seems like
15:52
Speaker 3: it might kind of fit. You know, it's like, all
15:54
Speaker 3: this receiver is getting covered well, and so you come
15:56
Speaker 3: up with some kind of road explanation for that when
15:58
Speaker 3: a lot of analysts don't actually have that knowledge to
16:01
Speaker 3: understand what's happening breaking down between the defensive bike and
16:04
Speaker 3: the wide receiver, whatever it might be. It's a very
16:06
Speaker 3: rote type of thing to say, which is fine for sports,
16:09
Speaker 3: but maybe not so much for finance when you're trying
16:11
Speaker 3: to come up with a strategy.
16:12
Speaker 4: You know, with sports or finance, I mean, really, they
16:16
Speaker 4: spend way more time talking about the game than it
16:19
Speaker 4: actually takes to play the game right. And you know,
16:24
Speaker 4: there's a whole channel dedicated, multiple channels dedicated to both
16:27
Speaker 4: sports and financial news, and they have to come up
16:31
Speaker 4: with something to say. That's a lot of airtime to fill.
16:35
Speaker 3: And I'll actually extend that analogy just a little bit
16:37
Speaker 3: because I think that it actually works. There's been a
16:40
Speaker 3: lot of chatter recently last few weeks or something. Ply
16:42
Speaker 3: since the beginning of the NFL season. There's a lot
16:44
Speaker 3: of NFL games every single week, and when you see
16:47
Speaker 3: commentators that come on and they have an opinion about
16:50
Speaker 3: every single game, every circumstance, suddenly you start thinking, I'm
16:54
Speaker 3: a big football fan, and not me personally, but if
16:56
Speaker 3: somebody's out there, I'm a big football fan. I don't
16:58
Speaker 3: do much on the weekend except for watch football, and
17:01
Speaker 3: I don't watch all thirty of these or all fifteen
17:03
Speaker 3: of these games. How is it possible that Steven A.
17:06
Speaker 3: Smith or whoever may be knows something? And the answer
17:08
Speaker 3: is they don't. They're taking what they've derived from headlines
17:12
Speaker 3: and what they've seen and things like that, and from
17:14
Speaker 3: games that they've seen years ago, and they'll turn that
17:17
Speaker 3: around into some sort of analoge because that's what they're
17:19
Speaker 3: paid to do. Sure, and I think that largely that's
17:21
Speaker 3: what you get from like the financial column of like
17:24
Speaker 3: a broad generalists newspapers. You get the guy that had
17:27
Speaker 3: to write the financial column for that morning. So that's
17:29
Speaker 3: what It's just not that he doesn't know anything, it's
17:31
Speaker 3: just it's different from being the guy that writes the
17:33
Speaker 3: column to the people that are covering it constantly or
17:35
Speaker 3: the people that they're part of it.
17:37
Speaker 4: And even if the guy writing the article was correct
17:41
Speaker 4: and largely it doesn't mean it fits for you and
17:45
Speaker 4: as an individual, right, yeah, great, because financial planning is
17:48
Speaker 4: about you, the individual, and the needs that you have
17:52
Speaker 4: and the position in life that you're in. You know,
17:57
Speaker 4: how you're allocated has more to do with where you
18:01
Speaker 4: are in your life and your needs and your goals
18:04
Speaker 4: than it does about any news story. And that's what
18:07
Speaker 4: I think is missing between the jump between those two things.
18:13
Speaker 4: You know, just like right now with the election. I mean,
18:15
Speaker 4: if you're twenty five thirty years old and you come
18:19
Speaker 4: in the office talking about the election, you know, I'm
18:23
Speaker 4: going to tell you that's not where your focus needs
18:26
Speaker 4: to be. You know, you need to focus on the
18:28
Speaker 4: things you can control, like am I creating savings and
18:31
Speaker 4: investment regularly? And if you are, that's the job that
18:36
Speaker 4: you have to do. Market will do and take care
18:38
Speaker 4: of itself over time if you do your job. If
18:41
Speaker 4: you're a retiree, if you're depending on your investments for
18:48
Speaker 4: your lifestyle, for your income, you know you're going to
18:52
Speaker 4: be allocated differently. You're going to think about that differently.
18:55
Speaker 4: You're going to make sure that your short term needs
18:57
Speaker 4: are met with something other than the stock market. The
19:00
Speaker 4: stock market could be treated like a long term investment
19:03
Speaker 4: where it works. The stock market doesn't always work. You know,
19:07
Speaker 4: if you own the stock market and want to take
19:09
Speaker 4: the money next week, well, I don't know what the
19:11
Speaker 4: market's going to do next week, but there's a real
19:14
Speaker 4: good chance three years, five years, ten years from now
19:17
Speaker 4: you'll be happy that you stuck with the market. Well.
19:20
Speaker 4: That volatility, though, can be a real problem if you're
19:23
Speaker 4: drawing income out, so you have to you have to
19:26
Speaker 4: think about those things about where you are in your
19:28
Speaker 4: life and use those investment tools properly.
19:31
Speaker 3: It's great information as always with John Bredett for four
19:33
Speaker 3: that Avenue Financial We you go to take our break
19:35
Speaker 3: and come back and still have a lot more we're
19:36
Speaker 3: going to talk about this morning. You can steer whether
19:38
Speaker 3: you wouldn't the conversation to go as well. If you have
19:39
Speaker 3: any questions not about just what we're talking about this morning,
19:41
Speaker 3: but anything that can affect your financial future where you're
19:44
Speaker 3: looking to invest in your retirement, John can help you
19:47
Speaker 3: point in the right direction, maybe take on some of
19:49
Speaker 3: your questions personally, you can give us a call this
19:51
Speaker 3: morning A three zero four three four five fifty eight
19:53
Speaker 3: fifty eight three four five fifty eight fifty eight. You
19:55
Speaker 3: can text over your questions to three zero four nine
19:57
Speaker 3: three five five zero zero eight three zero four nine
20:00
Speaker 3: three five five zeros or eight. We're going to go
20:01
Speaker 3: and take a break. You'll find out more about Fourth
20:02
Speaker 3: Avenue Financial online Fourth Avenue Financial dot com. You spell
20:05
Speaker 3: out the whole thing, or you can find it on
20:06
Speaker 3: Facebook by doing that same search. We'll be back writer
20:09
Speaker 3: with this hopefully. If your phone calls three zerre a
20:10
Speaker 3: fourth three four to five fifty eight fifty eight, you're
20:12
Speaker 3: listening to retire Right Radio with John Bredett from Fourth
20:14
Speaker 3: Avenue Financial. I'm del Cooper. This is five ADWCCHS, the
20:17
Speaker 3: Voice of Charleston. Retire Right Radio was sponsored by Fourth
20:20
Speaker 3: Avenue Financial, which is solely responsible for its content. Security
20:23
Speaker 3: is offered through JW CALL Financial member Fenricipic Investment advice
20:26
Speaker 3: offered through JW CO Advisors. Fourth Avenue Financial, jw CLL
20:30
Speaker 3: Financial and JW CO Advisors are unaffiliated entities. The opinions
20:33
Speaker 3: expressed by John Bredett should not be construed as specific investment,
20:36
Speaker 3: legal or tax advice. All economic and performance information is
20:40
Speaker 3: historical and not indicative of future results. Investing may involve
20:43
Speaker 3: risk of loss of principle. Any tax advice on this
20:46
Speaker 3: show is not intended to be used by any person
20:47
Speaker 3: for the purpose of avoiding US federal or state tax
20:50
Speaker 3: penalties that may be imposed on such a person, and
20:53
Speaker 3: each listener should seek advice from their tax advisor or
20:56
Speaker 3: legal console on topics that arise from the show. John
20:59
Speaker 3: Bredett is not provided legal or tax advice. Nothing should
21:02
Speaker 3: be construed as solicitation of an offer to buy securities.
21:04
Speaker 3: This program is sponsored by Fourth Avenue Financial, which is
21:07
Speaker 3: solely responsible for its content.
21:09
Speaker 6: As retirement approaches, are you confident in your financial plan?
21:12
Speaker 6: At Fourth Avenue Financial, they specialize in helping you to
21:15
Speaker 6: prepare for this important milestone. Whether you're concerned about income, investments,
21:18
Speaker 6: or leaving a legacy. Johnfredett provides personalized strategies to ensure
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Speaker 6: as secure and fulfilling retirement. Don't leave your future to chance.
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Speaker 2: This is retire Righte Radio with John Burdett from Fourth
22:14
Speaker 2: Avenue Financial, taking your calls at three oh four three
22:18
Speaker 2: four five fifty eight fifty eight or texts on three
22:21
Speaker 2: oh four nine three five fifty oh eight.
22:26
Speaker 3: Here listening to You're Tired Right Radio five adwhs the
22:29
Speaker 3: Boys of Charleston. I'm Del Cooper. Thanks for tuning in
22:30
Speaker 3: this morning. John Burdett doesn't studio with This is morning
22:32
Speaker 3: taking your phone calls as freezer are four three four
22:34
Speaker 3: five fifteen fifty threezer of fourth three four five fifteen
22:37
Speaker 3: fifty eight, you have any questions about your financial future,
22:39
Speaker 3: things that you can invest in to plan right for
22:42
Speaker 3: your retirement and gives a call this morning three zerre
22:44
Speaker 3: a four three four five fifty fifty Fourth Avenue Financial
22:46
Speaker 3: look at It, one seventy Court Street, Downtown Charleston. Their
22:49
Speaker 3: phone number, if you'd like to call them directly, is
22:51
Speaker 3: three zero four seven four six seven don seven seven
22:54
Speaker 3: three zero four seven four six seven non seven seven.
22:56
Speaker 3: We'll get all that information out to you again before
22:59
Speaker 3: you before we leave the airways this morning, but feel
23:01
Speaker 3: free to give us a call. Three zero four three
23:03
Speaker 3: four five fifty eight fifty eight is our number here
23:05
Speaker 3: in the studio this morning as we wrap up our
23:07
Speaker 3: conversation here over the next few minutes, we are in
23:12
Speaker 3: as we've talked about the last couple shows, we talked
23:14
Speaker 3: about expecting the interest rate cuts. We talked about the
23:16
Speaker 3: interest rate cuts. We missed the week that had happened,
23:19
Speaker 3: so we kind of made good on that last week
23:21
Speaker 3: and talked about the interest rate cuts. So we are
23:25
Speaker 3: obviously we're going to start seeing some of those downward
23:27
Speaker 3: trends on interest rates, which means, as we did discuss,
23:29
Speaker 3: the toolbox might change just a little bit for folks
23:32
Speaker 3: that we're looking into things that took advantage of higher
23:35
Speaker 3: interest rates. A lot of those things that you get,
23:38
Speaker 3: and if people took your advice on this and were
23:41
Speaker 3: anticipating this, you could have locked in pretty decent interest
23:43
Speaker 3: rates a few weeks ago and being pretty good shape
23:45
Speaker 3: riding those to the end of their term, whatever it
23:47
Speaker 3: might be.
23:49
Speaker 4: Yeah, and they're still opportunity for that. I mean, they
23:52
Speaker 4: you know, they cut rates, but they're still much higher
23:57
Speaker 4: than they will be a year from now. Yeah, right,
23:59
Speaker 4: it lis sprice as it likes so and some things though,
24:04
Speaker 4: you know that was also anticipatory, so that rates are
24:08
Speaker 4: actually down more than the Fed cut in some instances
24:12
Speaker 4: because the market expects that rates will be cut, so
24:16
Speaker 4: they go ahead and and you know, push the push
24:19
Speaker 4: the yields down in advance. So but there's still some
24:22
Speaker 4: opportunities out there, certainly, you know, longer term things that
24:31
Speaker 4: you can lock in. I'm thinking if you have annuities
24:35
Speaker 4: out there, things like that, it's a good time to
24:37
Speaker 4: review those if you already own those, because there are
24:40
Speaker 4: some things that are available now that probably won't be
24:44
Speaker 4: available six months from now, just the way the market
24:47
Speaker 4: changes and the environment changes and the expectations of those changes.
24:51
Speaker 4: So you know, those are those are things that we're
24:55
Speaker 4: doing quite a bit of right now, just reviewing where
24:59
Speaker 4: those type of investments are and if it's still the
25:02
Speaker 4: best thing for you, it's certainly something that we can review.
25:05
Speaker 4: And there's no charge for that.
25:07
Speaker 3: Yeah, that's the key to things is you want to
25:09
Speaker 3: make sure that you take a look at to keep
25:12
Speaker 3: things properly allocated, that you have things diversified in the
25:14
Speaker 3: right way. If you've never really looked at it, or
25:16
Speaker 3: if it's something that you think you need a break into,
25:18
Speaker 3: that's a great opportunity for you and give John data
25:21
Speaker 3: call at fourth aven A Financial again his number three
25:22
Speaker 3: zero four seven four six seven five seven seven, or
25:25
Speaker 3: you can call this this morning if you want to
25:26
Speaker 3: get ahead start three zero four three four five fifty
25:28
Speaker 3: eight fifty eight three zero four three four five fifty
25:30
Speaker 3: eight fifty eight. What this isn't really a concern because
25:33
Speaker 3: if we get into these days again, it will be good.
25:35
Speaker 3: But when before COVID hit and it really disrupted a market,
25:40
Speaker 3: that had been going pretty good for a long time.
25:42
Speaker 3: We had some shows like when the meme stocks were
25:44
Speaker 3: a big thing, with a game stop and things like that,
25:47
Speaker 3: and although that was sort of in the middle of everything,
25:49
Speaker 3: but we've had shows where we talked about before that
25:52
Speaker 3: when you're in an ascended market that's generally ascendant all around,
25:57
Speaker 3: you can trick yourself into thinking you're you're you're pretty smart,
26:01
Speaker 3: not that you don't know that you're not trying very hard,
26:03
Speaker 3: but there was a time that it would have been
26:05
Speaker 3: hard not to make money in the market if you
26:07
Speaker 3: were taking a point yourself. You know. Then we went
26:09
Speaker 3: through a rough period where maybe people that didn't have
26:12
Speaker 3: expertise would have struggled some. But if we get to
26:15
Speaker 3: this acendiary period where the market starts going up again
26:18
Speaker 3: and suddenly there's very few losers, it could give some
26:21
Speaker 3: folks a false sense of security. I've started to see
26:24
Speaker 3: this a lot. On One of the things that I'll
26:27
Speaker 3: look at online is before our shows is I'll look
26:30
Speaker 3: at people that are talking about financial advice, different things
26:32
Speaker 3: like that, So I'll check different places. Probably nineteen times
26:35
Speaker 3: out of twenty. There's nothing there really for us to
26:37
Speaker 3: talk about, but I've been noticing just recently people are
26:40
Speaker 3: once again talking about there can't miss sure bets ways
26:44
Speaker 3: to fund your retirement. And one of the things I'm
26:46
Speaker 3: seeing is sell everything and just invest an AI and
26:53
Speaker 3: the textocks. And that's all you got to do is
26:55
Speaker 3: if you just do that for the rest of your life,
26:56
Speaker 3: that your retirement's going to be fine. Just write it out.
26:58
Speaker 3: And I can't help but to think, you know, I
27:00
Speaker 3: look through and I click through on these people, and
27:01
Speaker 3: they're experts on everything. They're experts on the market, they're
27:04
Speaker 3: experts on real estate, they're experts on AI prompts, they're
27:07
Speaker 3: experts on generating content on Instagram, like they're experts on everything.
27:12
Speaker 4: They're experts are getting clicked.
27:14
Speaker 3: Yeah, it's octly exactly. That's what I was getting ready
27:16
Speaker 3: to get. So you got to really be careful on
27:18
Speaker 3: people that present a veneer of get quick rich knowledge
27:23
Speaker 3: because every single one of those persons are in it
27:26
Speaker 3: for something other than giving you the knowledge to make money.
27:28
Speaker 3: They're looking to make money themselves.
27:29
Speaker 4: Yeah, no doubt about it. And in a good gauge.
27:32
Speaker 4: If you just look at the indexes this year, it's
27:34
Speaker 4: been a good year. You know, the S ANDP and
27:36
Speaker 4: the nasdeck are up around twenty percent, the Dow is
27:41
Speaker 4: up twelve I think something like that, and the international
27:45
Speaker 4: stockstrup about ten percent. Bond market relatively flat. You blend
27:51
Speaker 4: all those together. Let's say you're a retiree, and you
27:54
Speaker 4: blend all those together at the allocations that you should
27:57
Speaker 4: roughly have as a retiree, probably setting on a ten
28:01
Speaker 4: twelve percent gain this year. I'd say that excuse me
28:06
Speaker 4: if if you look at your portfolio as a retiree
28:10
Speaker 4: and you're up more than fifteen sixteen percent, that to
28:14
Speaker 4: me is a red flag that you might need to
28:17
Speaker 4: reevaluate your portfolio because you know you're actually doing better,
28:23
Speaker 4: then maybe you should in an allocation that you might
28:27
Speaker 4: should be in as a retiree. So it's not always
28:31
Speaker 4: about the return when you're doing financial planning, is it
28:34
Speaker 4: does this meet the deeds that I have?
28:37
Speaker 2: You know?
28:37
Speaker 4: And sometimes too good of a return can be indicate
28:43
Speaker 4: that there's risk in that portfolio that maybe you haven't
28:46
Speaker 4: thought about or don't realize you're taking on. You know,
28:51
Speaker 4: you're not going to outperform tremendously the indexes, and if
28:55
Speaker 4: you're outperforming that that that blended return by two are
29:00
Speaker 4: It can only mean that you're concentrated in some area
29:04
Speaker 4: that exposure you use some potential volatility and risk.
29:08
Speaker 3: Later, man, we were really getting down under the weeds
29:11
Speaker 3: and stuff psychology here, because that's one of these circumstances.
29:14
Speaker 3: You're telling somebody if you're meeting with them, hey, this
29:17
Speaker 3: return here could suggest that you are doing something wrong,
29:20
Speaker 3: and they're like, what are you talking about. I outperform
29:23
Speaker 3: the market a bout seven percent. I'm doing everything right.
29:26
Speaker 3: That's a real and again that's a great reason to
29:29
Speaker 3: suggest to highlight for folks why they need somebody to
29:32
Speaker 3: help them with their financial planning and with what they're doing.
29:34
Speaker 3: But sometimes you can't understand the what exactly does it means?
29:39
Speaker 3: You know, a broken clock twice, it can be right
29:42
Speaker 3: twice a day. You can have your allocations to be
29:44
Speaker 3: super heavy in one situation and it could pay dividends
29:47
Speaker 3: for or not literally dividends, but it could pay off
29:50
Speaker 3: for you that one time. But what's going to happen
29:52
Speaker 3: all the rest of the times. And people tend to
29:54
Speaker 3: hold on to our successes, so we'll remember that one
29:57
Speaker 3: time we outperform the market by six percent or whatever,
29:59
Speaker 3: and we're forging well, you know, in the years leading
30:01
Speaker 3: up to that, we didn't do.
30:02
Speaker 4: So great, right, I mean just a couple of years ago.
30:05
Speaker 4: Remember it was that Kathy Woods, she had the fun
30:08
Speaker 4: that invested in all the tech stocks. Oh yeah, right,
30:11
Speaker 4: and you know people were putting up these charts of
30:14
Speaker 4: her compared to Warren Buffett. And then after the rough
30:18
Speaker 4: market we had, I think it was in twenty twenty two,
30:20
Speaker 4: you throw the chart back up and Warren Buffett's back
30:23
Speaker 4: in the lead, and you know, you try to race ahead,
30:31
Speaker 4: but eventually you know you're going to get your your
30:34
Speaker 4: hands gotten them in the mouse trap. And and you
30:40
Speaker 4: know that's okay. If you're young and you're aggressive. You
30:43
Speaker 4: know in your in you're psychologically able to stay the
30:48
Speaker 4: course when you lose fifty percent of your money. You know,
30:52
Speaker 4: if you want to be on that ride, fine, but
30:55
Speaker 4: you can't afford to do that when you're drawing the
30:57
Speaker 4: money off to live on it as a retiree. It
31:00
Speaker 4: becomes a very, very important to know how you're allocated.
31:06
Speaker 4: And if you're surpassing those returns, you know, it's hard
31:15
Speaker 4: because you hear other people talking about the big returns
31:18
Speaker 4: they get you see in the you know, in the
31:21
Speaker 4: news and on social media how well people are doing,
31:25
Speaker 4: and to be thinking, well, I'm doing well too, but
31:30
Speaker 4: that might be an indication that you're doing wrong. That
31:33
Speaker 4: is a tough, right, a tough thing to wrap your
31:35
Speaker 4: head around.
31:36
Speaker 3: Sure, yeah, it would be very difficult. You mentioned Warren
31:39
Speaker 3: Buffett there and another thing that I've noticed, and I
31:42
Speaker 3: meant to bring this up to you before, I don't
31:43
Speaker 3: think I ever quite did. It was interesting he had
31:46
Speaker 3: a huge sell off on something within the last several months,
31:48
Speaker 3: I can't remember. There was some position that he relinquished
31:51
Speaker 3: a considerable amount in and I remember seeing once again
31:54
Speaker 3: sort of the generalist headlines Buffett's company sells off, et cetera.
32:00
Speaker 3: Like The trend on the headlines was that there should
32:03
Speaker 3: be a reason to panic about the company that he
32:05
Speaker 3: sold on, that he sees these indicators that other people don't,
32:08
Speaker 3: and you might want to, you might wanna it might
32:11
Speaker 3: take it as a red flag. Then that I went
32:13
Speaker 3: to one of the finance websites that did a huge
32:16
Speaker 3: breakdown and it interviewed some folks from Berkshire, Hotway like
32:20
Speaker 3: different things like that. When what was going on and
32:22
Speaker 3: it ended up. He did lose his position, but there
32:24
Speaker 3: was a whole strategy behind the money and how it
32:27
Speaker 3: was reallocated, and some of it even got reinvested into
32:30
Speaker 3: the same company but at at or same parent company
32:33
Speaker 3: but at a different level. I forget like how it
32:35
Speaker 3: tiered and broke down, But it was amazing to me
32:38
Speaker 3: that the general headlines was like, hey, this means that
32:40
Speaker 3: you should sell all your stock in I can't remember
32:42
Speaker 3: if it was like Apple AI or I can't it
32:44
Speaker 3: was something like that.
32:44
Speaker 4: I believe Apples that were.
32:46
Speaker 3: But then it turns out the reasoning behind it was
32:48
Speaker 3: it wasn't like really a panic move. It was a
32:50
Speaker 3: strategic move of a different kind. And if you're just
32:53
Speaker 3: reading the headlines, you're like, oh, well, if if Warren
32:56
Speaker 3: Buffett got rid of all his Apple stock, maybe I
32:58
Speaker 3: should too. No, don't too. You got you got to
33:01
Speaker 3: understand why people are doing things well.
33:03
Speaker 4: And I'm very certain as Apple position made him a
33:06
Speaker 4: lot of a lot of money over the time, incredible,
33:09
Speaker 4: and it may have been as simply, hey, I've got
33:12
Speaker 4: more allocation into this than I really want to have
33:15
Speaker 4: right in scope of the whole portfolio. In other words,
33:18
Speaker 4: he was just pairing.
33:19
Speaker 3: It back to makes total sense right now, just.
33:22
Speaker 4: Just like you would do if you were an individual
33:24
Speaker 4: and managing your money properly.
33:26
Speaker 3: Just a few more zeros yep, handful more. Yeah, I
33:30
Speaker 3: find I find all of those. How you know, on
33:33
Speaker 3: one hand, we'll we'll look at somebody like that is
33:35
Speaker 3: as a and it's sometimes the same organizations will look
33:38
Speaker 3: at that and they'll they'll create some sort of a
33:40
Speaker 3: narrative out of what he's doing, and then the next
33:42
Speaker 3: week it will be like, well, ignore moren Buffet because
33:44
Speaker 3: he has no idea what he's doing it. It's funny
33:46
Speaker 3: the way that people will pick and choose how they
33:48
Speaker 3: wanted to follow those narratives when it's the journalist news. Again,
33:51
Speaker 3: when you follow the specific financial news, those tend to
33:54
Speaker 3: be a little less partisan, a little less doubt into
33:56
Speaker 3: that sort of thing.
33:57
Speaker 4: And while all that's going on, Warren Buffett doesn't.
33:59
Speaker 3: Care, doesn't care a bit. It's what they call a
34:01
Speaker 3: parasocial relationship, right like they care all about him, and
34:04
Speaker 3: he doesn't care a whit about the other side of that.
34:06
Speaker 3: And you can't blame him either as far as stuff
34:08
Speaker 3: like that goes. Let me make sure that I get
34:10
Speaker 3: the information out for you again before we cut John
34:12
Speaker 3: loose this morning for the Avenue financial. Of course, we
34:15
Speaker 3: do the show every Monday morning at eight twenty. You
34:17
Speaker 3: can do well unless something happens, but we'll do the
34:19
Speaker 3: show every week one way or the other. It's either
34:20
Speaker 3: every Monday morning at eight twenty. We might make it
34:22
Speaker 3: up on a Friday or play a best of but
34:24
Speaker 3: we will have the show every week, generally live at
34:26
Speaker 3: eight twenty every Monday morning right here on five ADWCCHS.
34:30
Speaker 3: We put the thing up on podcast about an hour show.
34:32
Speaker 3: After the show's over, you can find out at WCHS
34:34
Speaker 3: network dot com slash retire right. You can subscribe to
34:37
Speaker 3: it there so you don't have to miss an episode,
34:39
Speaker 3: just in case eight twenty is a little too early
34:41
Speaker 3: for you, as it almost was for me. This morning's
34:42
Speaker 3: well behind the Nens talk, but you can find out
34:45
Speaker 3: you can listen to all of our past episodes over there.
34:47
Speaker 3: We have years of them on there now, so you
34:49
Speaker 3: can kind of follow the track, and it would be
34:51
Speaker 3: interesting to go through. And I I replayed a show
34:54
Speaker 3: when you were out a couple weeks ago. I replayed
34:56
Speaker 3: a show that was a little over a year old
34:58
Speaker 3: that I went in and found and and listening back
35:00
Speaker 3: to it may just of course it did, but it
35:03
Speaker 3: may just smart sound like a smart guy. A lot
35:05
Speaker 3: of stuff that we talked about on that show really
35:07
Speaker 3: came to play out and played to fruition. I found
35:09
Speaker 3: that to be very interesting, And if you've listened to
35:11
Speaker 3: this show for any amount of time, you know how
35:13
Speaker 3: all that stuff is certainly true and plays out. So
35:15
Speaker 3: you can find out more about Fourth Avenue Financial online.
35:18
Speaker 3: It's fourth Avenue Financial dot com. Spell out the whole thing,
35:20
Speaker 3: Fourth Avenue Financial dot com. You can also go to
35:23
Speaker 3: the Facebook page it's fourth Avenue Financial. You can like
35:26
Speaker 3: the page there and be notified of any events or
35:28
Speaker 3: anything that's going on at Fourth Avenue Financial with continuing
35:31
Speaker 3: education or with seminars for clients, or anything along those
35:35
Speaker 3: lines that can help you out. Three zero four, three
35:37
Speaker 3: four five fifty eight fifty eight is our number if
35:38
Speaker 3: you want again, just in the last minute before we
35:40
Speaker 3: get out of here today, or of course the number
35:43
Speaker 3: four Fourth Avenue Financial was three zero four seven four
35:45
Speaker 3: six seven nine seven seven three zero four seven four
35:48
Speaker 3: six seven none seven seven, how's the how's the business own?
35:51
Speaker 3: In South Charleston going vintage among the vines going pretty
35:54
Speaker 3: well still.
35:54
Speaker 4: Yeah, yeah, we're doing going real well. Or you get
35:56
Speaker 4: ready to close out the second month in business and
35:59
Speaker 4: I'm still moving in those records.
36:00
Speaker 3: So that's nice. I know that. I know Weekly has
36:03
Speaker 3: been over to see you a couple of times already.
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Speaker 3: He's uh, I hear both ends of that of that story.
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Speaker 4: Yeah, I'm trying to get that record section expanded, but
36:12
Speaker 4: finding the time to do it is is not that easy.
36:14
Speaker 4: But it's a it's a fun work. Put it that way.
36:19
Speaker 3: It's nice to have, I mean. And the thing is,
36:21
Speaker 3: hobbies can sometimes become a lot of work, you know.
36:24
Speaker 3: And I mean, obviously you're over there selling those things
36:26
Speaker 3: a little bit, but I've been in that situation before
36:28
Speaker 3: where you have things you're doing, I'm gonna do it
36:30
Speaker 3: a little bit on the side, and then suddenly it's
36:31
Speaker 3: almost like your full time job, you know, all in
36:34
Speaker 3: things around and stuff like that. Sometimes it could be a little.
36:36
Speaker 4: Bit of I don't I don't have to be there
36:38
Speaker 4: to sell sell the records, certainly, but you know, just
36:42
Speaker 4: the time collating and pricing and you know, doing the
36:46
Speaker 4: things that I really enjoyed it that's a thing, right,
36:49
Speaker 4: but it's still you know, it's hard to get all
36:52
Speaker 4: the time to do it.
36:53
Speaker 3: That's great information as always with John Bredett before they
36:56
Speaker 3: have Avenue Financial Thanks for tuning in. This one to
36:58
Speaker 3: come out next is gonna be five Dy Live with
37:00
Speaker 3: Dave Alan Hopey Urgibalk to come on at the ten
37:03
Speaker 3: o six this morning, and then I'll be back this
37:04
Speaker 3: afternoon at three oh six. Sound good, sounds good? Sounds
37:07
Speaker 3: good to me too. Go go ahead and cut you
37:09
Speaker 3: loose for this morning. Thanks for tuning in. This has
37:11
Speaker 3: been retired right Radio on five ad w c HS.
37:13
Speaker 3: That's John bredad Am del Cooper. Have a great day
37:15
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