Latest / WCHS Network Podcasts / 02/10/2025 Retire Right Radio with John Burdette

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02/10/2025 Retire Right Radio with John Burdette · WCHS Network Podcasts

• 0:00
  Speaker 1: Unlock your dream property with Meeks Realty Group, where Rich
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  Speaker 1: the realtor makes real estate dreams a reality, whether it's
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  Speaker 1: residential or commercial. We've got Charleston to Huntington covered. Your
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  Speaker 1: key to exceptional real estate experience is start here Meeks Realtygroup.
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  Speaker 1: Contact us at Meeks dot us.
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  Speaker 2: The views and opinions expressed on this program do not
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  Speaker 2: necessarily reflect the views and opinions of five ADWCHS, its employees,
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  Speaker 2: or WVRC Media. This is Retire Right Radio, a weekly
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  Speaker 2: show from John Verdett 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 three five fifty oh eight.
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  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 Burdett, Fourth Avenue Financial Nancial.
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  Speaker 3: You are listening to WHOA Wow? That was loud? You
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  Speaker 3: are listening to retire Right Radio. It is Monday morning.
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  Speaker 3: I'm Dell Cooper sitting in a studio with me this morning.
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  Speaker 3: When this February morning, in the year of twenty twenty five.
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  Speaker 3: It is John fordet from Fourth Avenue Financial. You can
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  Speaker 3: find out more information at Fourth Avenue Financial dot com.
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  Speaker 3: You spell out the whole thing fourth Avenue Financial dot com.
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  Speaker 3: But this morning you can tune in and listen to
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  Speaker 3: the radio and get any advice that you need about
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  Speaker 3: how you can retire right planning into your UH into
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  Speaker 3: your future for financial planning and retirement, anything else you need,
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  Speaker 3: John can help you out this morning. You give us
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  Speaker 3: a call. Three zero four three four two eight one
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  Speaker 3: three one three zero four three four two eight one
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  Speaker 3: three one is our phone number. And John, good morning.
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  Speaker 3: How you do in this morning?
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  Speaker 4: I'm done, wonderful?
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  Speaker 3: Yeah you so, no super Bowl hangover for you? You're up,
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  Speaker 3: bright eyed, bushy tail and everything's ready and good to go.
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  Speaker 4: No, the super Bowl was over early.
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  Speaker 3: Yeah for most people, and it definitely was over. Now.
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  Speaker 3: I must be getting old or something. Man. I like
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  Speaker 3: I watched the Super Bowl. I wasn't like out into
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  Speaker 3: it necessarily. I was like doing dishes and folding laundry
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  Speaker 3: at the same time that the super Bowl was on.
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  Speaker 3: Not a single alcoholic drink passed my lips. I had
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  Speaker 3: coffee and then went to bed. It was fun.
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  Speaker 4: That must have been a thing. I was doing some
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  Speaker 4: laundry too, Yeah.
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  Speaker 3: Man, I was busy. Man. I can't take these Sunday
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  Speaker 3: evenings off. I get a lot of stuff done on
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  Speaker 3: Sunday evenings. So the super Bowl has to adhere to me.
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  Speaker 3: I don't let adhere to the super Bowl. So that's
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  Speaker 3: the way things went on. Of course, the Chiefs losing
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  Speaker 3: their bed to be the first ever team to win
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  Speaker 3: three super Bowl or the first since the split and
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  Speaker 3: the NFL Championships, Lash super Bowl and the Pickers did
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  Speaker 3: it trying to be the first team to win back
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  Speaker 3: to back to back super Bowls. Didn't go out so well.
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  Speaker 3: Didn't go so well. Big hammering last night where Philadelphia
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  Speaker 3: beat Kansas City. We'll have coverage on that throughout the
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  Speaker 3: day to day. We'll cover it more this afternoon on
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  Speaker 3: Metro News Hotline with Dave Weekly and Carl Lee. Of
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  Speaker 3: course will be in today, so we'll talk a lot
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  Speaker 3: about that, a lot about Randy Moss last night on
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  Speaker 3: the pregame festivities and during the show. He came back
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  Speaker 3: to the pregame show, they had a little peace on
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  Speaker 3: him and things like that. And I know Carl and
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  Speaker 3: Randy are pretty close. We'll probably talk about that a
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  Speaker 3: little bit later on tonight. But as far as your
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  Speaker 3: retirement planning goes, what in the world is going on
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  Speaker 3: right now? Well, you can call us this morning if
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  Speaker 3: you have any questions about the things that you need
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  Speaker 3: to do to soberly manage your finances. Three zero four
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  Speaker 3: three four two eight one three one three zero four
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  Speaker 3: three four two eight one three one. So what is
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  Speaker 3: going on right now? As far as market and everything goes.
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  Speaker 3: We're still kind of in a It's just normal, right,
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  Speaker 3: I mean, I mean things are things, and so the
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  Speaker 3: headlines are headlines. But we treat this like we do
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  Speaker 3: every year every year in uh February this time last year.
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  Speaker 3: If it's the same thing, you just have to do
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  Speaker 3: what you do. You got to keep to the plan.
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  Speaker 5: Yeah, I mean, you know, I think right now there
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  Speaker 5: is heightened potential for volatility because of all the headline risk.
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  Speaker 5: But underneath all of those headlines, corporate earnings are coming
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  Speaker 5: in pretty strong. About about three quarters of companies that
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  Speaker 5: are reporting are at or better than expectation. Earnings are
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  Speaker 5: growing at a pretty good clip right now. They've accelerated
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  Speaker 5: and they've broadened across more sectors of the economy. That's
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  Speaker 5: all positive backdrop, and ultimately that's what stocks follow.
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  Speaker 4: Stocks follower earnings.
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  Speaker 5: So a lot of times you'll get these headline risk
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  Speaker 5: blips that come out, but as long as the earning
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  Speaker 5: stay intact, that bodes well for good stock performance.
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  Speaker 4: We were we were up.
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  Speaker 5: We're up for the year two to four percent across
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  Speaker 5: most of the indexes that you track. Last week, we're
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  Speaker 5: having a pretty good week until Friday, and the market
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  Speaker 5: took a little bit of a hit. You know, some
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  Speaker 5: say that was tariff talk, but who really knows from
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  Speaker 5: day to day what is moving the market. But as
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  Speaker 5: long as earning stay intact, I think we're looking pretty good.
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  Speaker 3: I was seeing some a little bit of nervousness around
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  Speaker 3: numbers of inflation, stickiness, interest rate issues. I guess uh
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  Speaker 3: projected GDP growth, consumer sentiment downturn. Again. I mean, there's
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  Speaker 3: these things make bubble up into the headlines and things
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  Speaker 3: like that, But the bottom line is we've seen all
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  Speaker 3: of this happen before. You know, I mean consumer sentiment.
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  Speaker 3: You know, it's at a seven month flow, so that
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  Speaker 3: means that's about seven months ago it was this slow Again.
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  Speaker 3: Things turned out okay last year, you know. I mean
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  Speaker 3: you have to you have to take all these this
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  Speaker 3: stuff in context.
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  Speaker 5: You know, you look at everything cuts against one another.
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  Speaker 5: You know, if consumer centiment is low, that's that bodes
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  Speaker 5: well for inflation a lower interest rates. Uh, but it
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  Speaker 5: also if spending isn't there, that's not good for earnings
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  Speaker 5: in the you know, the economy. So which way do
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  Speaker 5: you want it?
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  Speaker 2: So?
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  Speaker 5: Uh, you really have to to take all these short
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  Speaker 5: term things really with a grain of sand. If you're
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  Speaker 5: planning long term for something like a retirement, you know
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  Speaker 5: there are a million news stories between now and your retirement,
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  Speaker 5: and focus on what you can control and you'll be okay.
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  Speaker 5: Don't focus on the short term headlines. Focus on the
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  Speaker 5: long term you know that productivity, growth, earnings, growth of
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  Speaker 5: the companies that make up our economy, and you'll be
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  Speaker 5: okay if you do that. You know, you can't control
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  Speaker 5: the market, you can't control the news cycle, but you
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  Speaker 5: can control the actions that you can take that actually
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  Speaker 5: make the difference.
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  Speaker 3: And that makes sense, and part of the reason that
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  Speaker 3: we do this show, and part of the reason you
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  Speaker 3: make your services, of course available is not everybody knows
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  Speaker 3: what those necessarily what those steps are, how to necessarily
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  Speaker 3: adhere to them, how to lay out the plan properly,
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  Speaker 3: things like that, And generally we talk about the headlines
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  Speaker 3: a little bit on the show just so we tell
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  Speaker 3: you not to pay attention to them, you know, because
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  Speaker 3: we want to kind of bring it up and say, hey,
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  Speaker 3: this has happened. However, if you stay on the straight
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  Speaker 3: and narrow and you have your plan and work your plan,
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  Speaker 3: you're going to be okay as far as that goes.
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  Speaker 3: What most people need help with is help setting that up.
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  Speaker 3: And regardless of what scenario that they're in, if they're
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  Speaker 3: you know, somebody that's you know, a two income household
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  Speaker 3: who are trying to save for the future in some way,
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  Speaker 3: shape or form, and they're you know, relatively blue collar whatever,
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  Speaker 3: needs some of guidance. If maybe you're somewhere in a
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  Speaker 3: white collar job and you're an excess earner and you're
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  Speaker 3: looking to find a way to make sure you take
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  Speaker 3: care of that money properly and it does work for it.
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  Speaker 3: People have different scenarios and you just need to use
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  Speaker 3: the tools that are available for you and the tools
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  Speaker 3: that are best today.
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  Speaker 4: Right and knowing the knowing the right strategy.
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  Speaker 5: We had the donuts and dollars last month, and and
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  Speaker 5: as an example, somebody was there that was had recently
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  Speaker 5: retired and had their retirement fund. Well, I guess they
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  Speaker 5: weren't really aware that that money could even be rolled over.
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  Speaker 5: They thought that they thought, I'm retiring, I'm going to
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  Speaker 5: need some of that money. I have to pull it
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  Speaker 5: all out at once and pay taxes on it. You know,
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  Speaker 5: that has nothing to do with the market. That understanding,
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  Speaker 5: that's understanding what the procedures are, the behaviors that are
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  Speaker 5: really what makes up financial success. You know that that
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  Speaker 5: could have been a huge tax bill that was unnecessary
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  Speaker 5: at that period of time. But instead, oh I can
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  Speaker 5: roll that over. I can only pay taxes on the
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  Speaker 5: money that comes out. You know, those are things that
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  Speaker 5: you know, a lot of folks don't know these things
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  Speaker 5: because you never you retire once.
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  Speaker 3: Right yeah right, it's not something you do all the time, right, Yeah,
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  Speaker 3: it's not like you get used to.
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  Speaker 5: It, right, So there are all kinds of behavioral things
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  Speaker 5: like that that goes into putting a plan together and
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  Speaker 5: there again, those are the things that really determine the
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  Speaker 5: success more than the day to day movements of the market.
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  Speaker 5: And speaking of the donuts and dollars, we are having
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  Speaker 5: another one of those on the twenty second at ten
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  Speaker 5: am down at six o nine d Street, Vintation. So
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  Speaker 5: that's my wife's shop and it's on Facebook. Now there's
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  Speaker 5: a Facebook event that you can go on and that's
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  Speaker 5: what I need. Yeah, yeah, go go on Facebook and
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  Speaker 5: say that you want to attend and we'd love to
• 9:15
  Speaker 5: love to have you come out.
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  Speaker 4: And it's very informal.
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  Speaker 5: We just sat down and chat about money and topics
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  Speaker 5: that you have on your mind and you need a
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  Speaker 5: few donuts.
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  Speaker 3: You know. There is a recently, i think last year,
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  Speaker 3: Google Calendar and Facebook came out with the ability where
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  Speaker 3: you can sync your Facebook events that you like on
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  Speaker 3: your page with your Google Calendar. One of the most
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  Speaker 3: useful things that as somebody who's in radio business like
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  Speaker 3: I am, and we have a lot of events that
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  Speaker 3: we do around the city and stuff we have to
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  Speaker 3: go to, I can just go and like those events
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  Speaker 3: and they come automatically up on my Google Calendar. This
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  Speaker 3: is this is not financial advice, but this is just
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  Speaker 3: practical advice that is very handy. When something like this
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  Speaker 3: comes up, You're like, oh, all I have to do
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  Speaker 3: is go and say that I'm interested in and it's
• 9:55
  Speaker 3: going to come up on my calendar and remind me
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  Speaker 3: of it. So that's good.
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  Speaker 5: Yeah, before all this, you know, fancy phones and things
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  Speaker 5: of that nature. Is that a good example of that
• 10:03
  Speaker 5: is that Vandelia gathering that happens.
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  Speaker 4: I would always read.
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  Speaker 5: About that in the newspaper the day after it happened,
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  Speaker 5: and yeah, right, such a bummer.
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  Speaker 3: So it's nice to hear that if you like, if
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  Speaker 3: you if you flag it for something to remind you of,
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  Speaker 3: you know, then you know, I have it set up.
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  Speaker 3: So anything that I put into that channel, it gives
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  Speaker 3: me like a three day reminder seventy two hours and
• 10:26
  Speaker 3: so seventy two hours before the thing, I get a reminder.
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  Speaker 3: So if it's something that I'm personally interested in or
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  Speaker 3: work related, it gives me plenty of time to land
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  Speaker 3: for it. So it's pretty good.
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  Speaker 5: And certainly, you know, if somebody wonders in without without booking,
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  Speaker 5: there were not going to turn.
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  Speaker 4: You away at the event.
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  Speaker 5: But it helps me out a lot if you go
• 10:43
  Speaker 5: and like the event, so that well, I know how
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  Speaker 5: many donuts to.
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  Speaker 3: Buy somehow or another. I was already interested in the event,
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  Speaker 3: so that's good. I must have subscribed to it the
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  Speaker 3: last time it was on there. That'll be the Dollar
• 10:54
  Speaker 3: of Doughnuts. It's coming up on February twenty second at
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  Speaker 3: Vintage and Vaughn's in South Charleston. If you want to
• 11:00
  Speaker 3: be involved with that great exchange of ideas, just where
• 11:02
  Speaker 3: you can sit down and folks can talk a little
• 11:04
  Speaker 3: bit about like you, Like you said, you run into
• 11:07
  Speaker 3: folks who are asking questions about different processes. Those are
• 11:10
  Speaker 3: things like that, not necessarily even investment strategies or something
• 11:12
  Speaker 3: like that, just how to do something. You know, I'm
• 11:14
  Speaker 3: at this point in my in my retirement or pre
• 11:17
  Speaker 3: retirement or whatever it might be, and I'm at why
• 11:20
  Speaker 3: and I need to get to Z what's the step
• 11:21
  Speaker 3: that I needed to get there? And you can help
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  Speaker 3: with that. And a lot of people don't know that.
• 11:24
  Speaker 3: They don't need to, you know, just like you don't
• 11:26
  Speaker 3: need to know necessarily how to you know, lay a brick,
• 11:29
  Speaker 3: although I know that you do some work from time
• 11:32
  Speaker 3: to time, but it's there's professionals to do those things,
• 11:34
  Speaker 3: and when you need something done, you call the professional
• 11:36
  Speaker 3: for and that's how you can help with those services.
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  Speaker 5: Right, And keep in mind too, this is not a
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  Speaker 5: formal similar Yeah, it's just we're setting down and essentially,
• 11:47
  Speaker 5: you know, you can determine the direction that we go
• 11:51
  Speaker 5: in the meeting with your questions that you have and
• 11:54
  Speaker 5: then we'll just chat informally about them.
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  Speaker 4: It's a good way to well get to know one another.
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  Speaker 5: And you know, you know, you may be looking for
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  Speaker 5: a financial advisor, so this is a way to do
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  Speaker 5: it without having a formal appointment, just to chat a
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  Speaker 5: little bit and see if see if we might be
• 12:11
  Speaker 5: the right fit for you.
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  Speaker 3: And and it scales to any level, you know, we
• 12:15
  Speaker 3: talk about we try to hit you know, right in
• 12:17
  Speaker 3: the sweet spot of folks. That are the topics that
• 12:19
  Speaker 3: we discussed and things we go about that wherever you
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  Speaker 3: are in as far as your earnings go, that you
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  Speaker 3: can find some benefit in that. But there are some
• 12:27
  Speaker 3: unique circumstances depending on the individual.
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  Speaker 2: It is.
• 12:29
  Speaker 3: If you're somewhat of a low earner, it might mean
• 12:31
  Speaker 3: that your strategies you start with a debt snowball. You
• 12:33
  Speaker 3: do different things that get your strategies up and going.
• 12:35
  Speaker 3: But also if you're a high earner, you know, that
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  Speaker 3: could also change some of the strategies that you're doing
• 12:40
  Speaker 3: to make sure the money is doing the best work
• 12:42
  Speaker 3: for you that could possibly do so, depending on where
• 12:44
  Speaker 3: you are on the on the spectrum, your questions might change.
• 12:47
  Speaker 3: And yet yet again that's why being a generalist doesn't
• 12:50
  Speaker 3: really help. You need to contact an expert to figure
• 12:52
  Speaker 3: out how to do these things right, because there are
• 12:53
  Speaker 3: different strategies that you're going to take on if you're
• 12:55
  Speaker 3: a high income person as opposed if you're somewhere more
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  Speaker 3: close to average.
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  Speaker 4: Yeah, no doubt about it.
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  Speaker 5: I mean certain things you your income exclude you from
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  Speaker 5: participating in. For instance, there are certain programs that that
• 13:10
  Speaker 5: you know, if you earn too much money, you can't
• 13:13
  Speaker 5: take those tax deductions. So there's definitely strategies that your
• 13:19
  Speaker 5: income level, you know, dictates what the best moves will be.
• 13:23
  Speaker 3: And those are the things that's really what you help
• 13:26
  Speaker 3: people kind of pick through and find the right strategy
• 13:28
  Speaker 3: that's going to be for them. One of the things
• 13:30
  Speaker 3: I wonder if you run into sometimes like if you
• 13:33
  Speaker 3: listen to people talk about things that are supposed to
• 13:35
  Speaker 3: be life coach type stuff long enough, or somebody that
• 13:38
  Speaker 3: maybe you respect or admire that does something in an
• 13:40
  Speaker 3: industry that's really good and you read their book and
• 13:43
  Speaker 3: you're really into them. If somebody asks you about like
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  Speaker 3: if you read a book by you know, Warren Buffet
• 13:48
  Speaker 3: or somebody, and then somebody you're having a casual conversation
• 13:51
  Speaker 3: about investing strategies or something like that, you might articulate
• 13:55
  Speaker 3: similar strategies to what like Warren Buffet or somebody might say. However,
• 13:58
  Speaker 3: when you talk to someone and you ask him questions
• 14:01
  Speaker 3: and you're doing fact finding based on their real life
• 14:04
  Speaker 3: situations and things that they go through, you might find
• 14:06
  Speaker 3: that that's not actually what their investing style is going
• 14:09
  Speaker 3: to be. They might want it to be. They might
• 14:11
  Speaker 3: say that's what because they read the book. But you're
• 14:13
  Speaker 3: talking to people, you realize because you know things about
• 14:16
  Speaker 3: the industry, you're a professional in this, this person really
• 14:19
  Speaker 3: isn't that same type of investor as what he thinks
• 14:21
  Speaker 3: he is or what he or she thinks he is,
• 14:23
  Speaker 3: and that conversation is something that's worthwhile to the person
• 14:26
  Speaker 3: because they don't necessarily know that about themselves. You know,
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  Speaker 3: they've read this book or done whatever, and they're like, well,
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  Speaker 3: this is a successful strategy. I should mimic something like that.
• 14:34
  Speaker 3: But one size doesn't fit all, even somebody that was
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  Speaker 3: majorly successful.
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  Speaker 5: Oh, no doubt about it. And the fact is that
• 14:41
  Speaker 5: over your life, your situation changes. You know, you might
• 14:45
  Speaker 5: start out as a lower earner and then you end
• 14:48
  Speaker 5: up in as a higher Well, are your strategies changing
• 14:51
  Speaker 5: to match that? You know, you need to make sure
• 14:53
  Speaker 5: that they do. You read a book, you read an
• 14:58
  Speaker 5: article on the internet. Does that situation really mirror you
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  Speaker 5: or is it just similar? Does that if it's just
• 15:06
  Speaker 5: similar and not identical, which it probably isn't, is that
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  Speaker 5: the right advice for you? I mean, that's that's whe're
• 15:13
  Speaker 5: working with a financial advisor. It's not just a one
• 15:16
  Speaker 5: time event where you come in. Over time we get
• 15:19
  Speaker 5: to know one another and and those recommendations can change
• 15:23
  Speaker 5: over time as your life changes and is your needs change.
• 15:27
  Speaker 5: So it's really when you're engaging a financial advisor, you're
• 15:31
  Speaker 5: you're bringing somebody into your to your financial plan that
• 15:34
  Speaker 5: works with you ongoing. It's it's not just here by
• 15:38
  Speaker 5: this investment, it's what are you trying to accomplish what's
• 15:42
  Speaker 5: going on in your life and over the years that
• 15:46
  Speaker 5: may require adjustments and that's that's what an advisor can
• 15:50
  Speaker 5: help you bring to the plan.
• 15:51
  Speaker 3: It's great information with Drammer data. Fourth Avenue Financial because
• 15:55
  Speaker 3: I relate a lot of this. I may not have
• 15:57
  Speaker 3: ever been a successful investor, but I had successfully lost
• 16:00
  Speaker 3: a lot of weight and the discipline that's involved, and
• 16:03
  Speaker 3: I draw these conclude these similarities a lot. Sometimes the
• 16:05
  Speaker 3: discipline involved, at least the part of your brain that
• 16:07
  Speaker 3: you tap into sometimes are the same. And as you
• 16:10
  Speaker 3: were explaining some of this, as you progress through life,
• 16:13
  Speaker 3: things change. It reminds me of like when I was
• 16:15
  Speaker 3: super watching what I was eating to make sure I
• 16:18
  Speaker 3: was managing calories and different things along those lines. There
• 16:20
  Speaker 3: are certain types of foods that I wrote off, I
• 16:22
  Speaker 3: can't eat that. I'm not going to eat that because
• 16:23
  Speaker 3: it's just way too rich for me right now, it's
• 16:25
  Speaker 3: not going to fit in my budget, so on and
• 16:26
  Speaker 3: so forth. And what I've discovered over the last few
• 16:28
  Speaker 3: years as I've kind of maintained my weight and don't
• 16:31
  Speaker 3: worry about that as much, there's a lot of things
• 16:33
  Speaker 3: that in my mind that I had written off that Actually,
• 16:35
  Speaker 3: now I'm okay with It's like, actually I can eat
• 16:37
  Speaker 3: that because I'm not any longer under those same restrictions
• 16:40
  Speaker 3: that I was putting myself on earlier, and I had
• 16:42
  Speaker 3: cut this entire category of foods out of my life,
• 16:45
  Speaker 3: and actually I can do those again now. And somebody
• 16:47
  Speaker 3: who's been investing for years. At first, they may have
• 16:50
  Speaker 3: looked some tools at the toolbox that oh, man, I
• 16:52
  Speaker 3: don't make enough money for that. That's not going to
• 16:54
  Speaker 3: work for me. That's not going to work for me,
• 16:55
  Speaker 3: and you forget about it. Twenty years later, those might
• 16:57
  Speaker 3: be perfect for you. That's why you need to ask
• 17:00
  Speaker 3: and make sure that you're on the right.
• 17:01
  Speaker 5: Page, right and and and sometimes it's almost the opposite.
• 17:04
  Speaker 4: You get folks that find.
• 17:08
  Speaker 5: Things, particularly on the Internet, that are that are true
• 17:14
  Speaker 5: truly could be strategies, but applied has such a narrow
• 17:18
  Speaker 5: band of folks, but it's written in a way that, oh,
• 17:22
  Speaker 5: this is the secret, and you know you can be
• 17:26
  Speaker 5: led astray by that, not because it's necessarily wrong information,
• 17:32
  Speaker 5: but it's the wrong information for you.
• 17:35
  Speaker 6: And sometimes the the hoops and things that that that
• 17:43
  Speaker 6: you know it's advising in these articles to jump through
• 17:45
  Speaker 6: are so complex that it it just it doesn't make
• 17:50
  Speaker 6: sense for the average person.
• 17:52
  Speaker 5: And so even knowing what information to listen to and
• 17:58
  Speaker 5: take into account is something that an advisor can bring
• 18:03
  Speaker 5: because that article does not know you in your situation,
• 18:08
  Speaker 5: and there's just so much out there that is maybe
• 18:14
  Speaker 5: true information, but it's just not the right thing for you.
• 18:18
  Speaker 3: If you have a if you have the lay mind,
• 18:20
  Speaker 3: and you're going to cry about something like this. Not
• 18:21
  Speaker 3: that you shouldn't try to educate yourself, not that you
• 18:23
  Speaker 3: shouldn't try to make right decisions, but if you're absorbing
• 18:26
  Speaker 3: so much information and people write it from very narrow
• 18:30
  Speaker 3: slices of how a particular strategy might work, and you're
• 18:32
  Speaker 3: taking in all of this as equal value, it starts
• 18:36
  Speaker 3: to become somewhat confusing about which one of these narrow
• 18:38
  Speaker 3: lines are going to work for you. I knew somebody
• 18:41
  Speaker 3: who famously, and I even did some study on it
• 18:43
  Speaker 3: because they were in my life and I noticed this
• 18:45
  Speaker 3: in them. They were what I came to call as
• 18:47
  Speaker 3: self help sick. They read every self help book that
• 18:50
  Speaker 3: came down the line, just every single thing from The
• 18:53
  Speaker 3: Secret to Who Moved My Cheese? To like everything that
• 18:56
  Speaker 3: you can imagine down the line, and they tried to
• 18:58
  Speaker 3: They tried to practice every everything, everything from from the
• 19:02
  Speaker 3: power of positive thinking to who cares the next the
• 19:05
  Speaker 3: next layoff is just the big challet like everything, they
• 19:08
  Speaker 3: just try to incorporate it, and it just it turned
• 19:10
  Speaker 3: them into muck. You know, that nothing made sense because
• 19:13
  Speaker 3: part of it was like this epherial magic, that of
• 19:17
  Speaker 3: power of positive thinking, and the next thing was like
• 19:19
  Speaker 3: you know, the the three hundred hour work week or whatever.
• 19:22
  Speaker 3: It's like the things were incompatible. But in their mind
• 19:25
  Speaker 3: they were sick because they just took in way too
• 19:27
  Speaker 3: much information to try to make their life better. And
• 19:30
  Speaker 3: I can imagine I don't know this, you've probably seen this,
• 19:33
  Speaker 3: but people that read way too many Internet articles, see
• 19:36
  Speaker 3: way too many YouTube videos, way too many friends that
• 19:39
  Speaker 3: are giving them tips on how to do things, and
• 19:40
  Speaker 3: suddenly you get paralyzed because you're like, well, what am
• 19:43
  Speaker 3: I supposed to do?
• 19:44
  Speaker 5: Yeah, you either get paralyzed or you uh or or
• 19:48
  Speaker 5: you are jumping around from strategies and not keeping focus
• 19:54
  Speaker 5: on what matters. You get lost in the in the uh,
• 19:59
  Speaker 5: you know, jumping from one strategy to another, and you know,
• 20:04
  Speaker 5: financial planning investment works the best, in my opinion, when
• 20:10
  Speaker 5: you keep it as simple as possible and you keep
• 20:12
  Speaker 5: it focused on the actual goal that you have and
• 20:16
  Speaker 5: then and then put the blonders on and do your job,
• 20:20
  Speaker 5: you know, save the money, live below your means, let
• 20:25
  Speaker 5: it accumulate, let the market do its job. You focus
• 20:27
  Speaker 5: on yours. And yeah, can there be reasons to do
• 20:32
  Speaker 5: some of these more complex strategies, yes, but most of
• 20:37
  Speaker 5: these things really don't apply that much to to the
• 20:41
  Speaker 5: average person listening. And that, in my experience, is where
• 20:47
  Speaker 5: people go astray the most is trying to do too
• 20:51
  Speaker 5: much or trying to make it more complicated that it
• 20:53
  Speaker 5: actually is. Because of all the information that's just being
• 20:56
  Speaker 5: thrown on you from every different.
• 20:58
  Speaker 3: Direction, it makes a lot of sense. And if you
• 21:00
  Speaker 3: find yourself in that situation, maybe you have a little
• 21:02
  Speaker 3: bit of information overload, or maybe you're somebody who've started
• 21:06
  Speaker 3: investing twenty years ago or ten years ago, and you
• 21:08
  Speaker 3: find yourself in a different situation now, and we've triggered
• 21:11
  Speaker 3: a thought, Hey, you know what, maybe some of my
• 21:12
  Speaker 3: strategies are a little outdated. Give us a call this morning,
• 21:15
  Speaker 3: John can maybe help you walk through that a little bit.
• 21:17
  Speaker 3: And then ultimately maybe help you out. You give us
• 21:19
  Speaker 3: a call at three zero four three four two eight
• 21:21
  Speaker 3: one three one three zero four three four two eight
• 21:22
  Speaker 3: one three one. You can find out more about Fourth
• 21:24
  Speaker 3: Avenue Financial one line, Fourth Avenue Financial dot com. Fourth
• 21:27
  Speaker 3: Avenue Financial dot com. You spell out the whole thing.
• 21:29
  Speaker 3: Located here in downtown Charleston, one seventy Court Street, right
• 21:31
  Speaker 3: across from the Town Center Mall. Their phone numbers three
• 21:34
  Speaker 3: zero four seven four six seven nine seven seven. That's
• 21:36
  Speaker 3: three zero four seven four six seven nine seven seven.
• 21:38
  Speaker 3: We're gonna take our break. When we come back, hopefully
• 21:40
  Speaker 3: you have questions for us. If you want to control
• 21:42
  Speaker 3: the conversation, you can give us a call at three
• 21:44
  Speaker 3: zero four three four five fifty eight fifty eight. You
• 21:46
  Speaker 3: can text over your questions to three zero four non
• 21:48
  Speaker 3: three five five zero zero eight. That's John Burdett with
• 21:51
  Speaker 3: Fourth Avenue Financial. I'm Del Cooper. This is retire Right
• 21:53
  Speaker 3: Radio one five eight WCHS, the Voice of Charleston. Retire
• 21:57
  Speaker 3: Right Radio was sponsored by Fourth Avenue Financial, which is
• 21:59
  Speaker 3: solar response for its content. Security is offered through jw
• 22:02
  Speaker 3: CL Financial member Fenricipic. Investment advice offered through jw CO Advisors,
• 22:06
  Speaker 3: Fourth Avenue Financial, jw CL Financial, and jw CO Advisors
• 22:09
  Speaker 3: are unaffiliated entities. The opinions expressed by John Bredett should
• 22:12
  Speaker 3: not be construed as specific investment, legal, or tax advice.
• 22:16
  Speaker 3: All economic and performance information is historical and not indicative
• 22:19
  Speaker 3: of future results. Investing may involve risk of loss of principle.
• 22:23
  Speaker 3: Any tax advice on this show is not intended to
• 22:24
  Speaker 3: be used by any person for the purpose of avoiding
• 22:27
  Speaker 3: US federal or state tax penalties that may be imposed
• 22:30
  Speaker 3: on such a person, and each listener should seek advice
• 22:32
  Speaker 3: from their tax advisor or legal console on topics that
• 22:35
  Speaker 3: arise from the show. John Bredett is not providing legal
• 22:38
  Speaker 3: or tax advice. Nothing should be construed as solicitation of
• 22:41
  Speaker 3: an offer to buy securities. This program is sponsored by
• 22:44
  Speaker 3: Fourth Avenue Financial, which is solely responsible for its content.
• 22:47
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  Speaker 8: Stay ahead of the political curve with Meet the Press,
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• 24:00
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• 24:20
  Speaker 2: This is retire Right Radio with John Burdett from Fourth
• 24:24
  Speaker 2: Avenue Financial taking your calls at three oh four, three
• 24:28
  Speaker 2: four five fifty eight fifty eight or texts on three
• 24:31
  Speaker 2: oh four nine three five fifty oh eight.
• 24:41
  Speaker 3: Ten thous Doll's supers all Right Radio five eighty Voice
• 24:47
  Speaker 3: of Charleston, Jimmy Hendrix bringing this back from the breakthre.
• 24:50
  Speaker 3: I would have liked to see Hendrix at the super Bowl. Yeah,
• 24:52
  Speaker 3: that would have been a good I think that would
• 24:53
  Speaker 3: have That would have worked out right. I mean maybe
• 24:55
  Speaker 3: we're guys of age that that that just sounds good.
• 24:57
  Speaker 3: I don't know, but I wouldn't mind seeing Hendrix super Bowl.
• 25:00
  Speaker 3: Who would be his special guest? He wouldn't need him, right, No,
• 25:02
  Speaker 3: I think it.
• 25:03
  Speaker 4: Would be he'd be pretty much the start of the
• 25:05
  Speaker 4: show all the way.
• 25:06
  Speaker 3: Yeah, I think that would work out all right for me.
• 25:09
  Speaker 5: You know, I had a a forty five record. It
• 25:13
  Speaker 5: was Purple Haze and the and the B side was
• 25:16
  Speaker 5: fifty first Anniversary. It was a Japanese pressing of this
• 25:20
  Speaker 5: forty five and it sounded so good that that fifty
• 25:25
  Speaker 5: first anniversary song, right, that really on a on the
• 25:29
  Speaker 5: right stereo.
• 25:30
  Speaker 3: That sounds good. That's yeah, man, some of that stuff.
• 25:35
  Speaker 3: A lot of Hendris stuff has been re released and
• 25:37
  Speaker 3: remastered a little bit over time, and the remaster stuff
• 25:40
  Speaker 3: sounds good. But also if you find the earlier enough
• 25:43
  Speaker 3: recordings with great pressings on a good U on a
• 25:46
  Speaker 3: good stereo system of some kind, there's just something about
• 25:48
  Speaker 3: that sound, man, that It's just something pure about it.
• 25:51
  Speaker 3: It sounds great.
• 25:52
  Speaker 5: That was one of those I sold it in the
• 25:54
  Speaker 5: shop and as it went out the door, I was like,
• 25:58
  Speaker 5: I should have kept that one.
• 25:59
  Speaker 3: I remember it used to be back when I still
• 26:02
  Speaker 3: had like sort of a collector bone in my body
• 26:03
  Speaker 3: and I was a little younger. I used to I mean,
• 26:05
  Speaker 3: the first time that I went to New York was
• 26:07
  Speaker 3: simply because I wanted to go to the record shops
• 26:09
  Speaker 3: in Greenwich. Oh. I mean, that was like my main
• 26:12
  Speaker 3: thing I want to go to, like the New York
• 26:13
  Speaker 3: Tower records. I wanted to go to the record shops
• 26:16
  Speaker 3: in Greenwich Village and stuff like that for a guy
• 26:18
  Speaker 3: who's most excellent finds on the bootleg market was in Columbus,
• 26:23
  Speaker 3: which Columbus had some really great shops back in the nineties.
• 26:25
  Speaker 3: Don't get me wrong. It was like a treasure trove
• 26:27
  Speaker 3: in New York man. I mean, I just I mean,
• 26:29
  Speaker 3: I spent almost a whole week up there just in
• 26:31
  Speaker 3: record shops. It was incredible.
• 26:32
  Speaker 5: Ye they say, yeah, Tokyo right now has some of
• 26:35
  Speaker 5: the best record shops globally.
• 26:37
  Speaker 3: And that something else. I can imagine that. I can
• 26:39
  Speaker 3: imagine that. I don't even have a turntable anymore.
• 26:41
  Speaker 4: Though, oh I can hook you up.
• 26:42
  Speaker 3: I'd probably need one. Honestly, my wife has some really
• 26:45
  Speaker 3: cool records that she's collected over time. We've never listened
• 26:47
  Speaker 3: to any of them, which maybe isn't a bad thing.
• 26:49
  Speaker 3: We're not talking about those kinds of records necessarily this morning, though,
• 26:51
  Speaker 3: if you want to get in in the next ten
• 26:52
  Speaker 3: minutes before we have to leave the airways, if you
• 26:54
  Speaker 3: have any questions about how you can retire right investing
• 26:56
  Speaker 3: your future, you can give John Burdett a call. This
• 26:58
  Speaker 3: morning to figure out the strategy that might work for you,
• 27:00
  Speaker 3: or just to get you over a tough spot, or
• 27:02
  Speaker 3: maybe you're just looking for somebody that's going to help
• 27:04
  Speaker 3: you out from here on out. You can give John
• 27:06
  Speaker 3: a call this morning and we could get you rolling
• 27:07
  Speaker 3: in the right direction. Three zerre a four three four
• 27:09
  Speaker 3: two eight one three one three zero four three four
• 27:11
  Speaker 3: two eight one three one. You can text three z
• 27:12
  Speaker 3: are a four non three five five zero zero eight
• 27:14
  Speaker 3: three zerre a four non three five five zero zero eight.
• 27:17
  Speaker 3: I guess we're still in earnings. Earnings are still coming
• 27:21
  Speaker 3: in from different places and and uh, the market in
• 27:24
  Speaker 3: general with all of the really, when you when you
• 27:27
  Speaker 3: isolate the two different things, when you isolate all the
• 27:29
  Speaker 3: headlines and all the different things that you see, and
• 27:31
  Speaker 3: then you take a look at what the market is
• 27:33
  Speaker 3: and what it's been doing. One of them headlines have
• 27:36
  Speaker 3: been crazy. The market, not necessarily, I mean there's been fluctuations.
• 27:38
  Speaker 3: There's been some volatility within days or within cycles, you know,
• 27:42
  Speaker 3: but broadly speaking, we're seeing snap back to about the
• 27:45
  Speaker 3: same area and it just keeps chugging along.
• 27:48
  Speaker 5: Yeah, like you say, we're still up for the year.
• 27:50
  Speaker 5: The a lot of the earnings that have been coming out,
• 27:56
  Speaker 5: there's been some disappointment in the tech areas, so the
• 27:59
  Speaker 5: big tech stocks, and it's not because their earnings are
• 28:02
  Speaker 5: necessarily down or bad. It's just maybe not growing as
• 28:08
  Speaker 5: fast or the expectations are slowing down for some of
• 28:11
  Speaker 5: the projections that they're making quarters out. And there again,
• 28:18
  Speaker 5: that matters because of the valuations. You know, those stocks
• 28:22
  Speaker 5: are richly valued, and they're richly valued because there's an
• 28:27
  Speaker 5: expectation that they're going to continue to grow at a
• 28:30
  Speaker 5: certain rate. And so if there's disappointment in that growth rate,
• 28:35
  Speaker 5: then all of a sudden you scratch your head and say, well,
• 28:38
  Speaker 5: then why am I paying so much of these rich
• 28:42
  Speaker 5: valuations for those stocks? And so you've seen some of
• 28:46
  Speaker 5: that happening where you know, tech stocks aren't really they're
• 28:50
  Speaker 5: still up for the year, but there's been a lot
• 28:52
  Speaker 5: more volatility in that because of some of those those
• 28:55
  Speaker 5: big earning reports. A lot of the big companies that
• 28:57
  Speaker 5: have come out have had those earnings that are they're
• 29:00
  Speaker 5: growing tremendously.
• 29:01
  Speaker 4: But maybe they had a comment that says maybe it
• 29:05
  Speaker 4: will slow down and the quarters out, So.
• 29:08
  Speaker 3: We pay a little premium for the expected value on
• 29:10
  Speaker 3: a stock like.
• 29:11
  Speaker 5: Absolutely market is forward looking, and so you know that's
• 29:16
  Speaker 5: why sometimes you see earnings come out that are that
• 29:19
  Speaker 5: are terrible and the stock goes up. Why did the
• 29:22
  Speaker 5: stock go up, Well, because they got the bad stuff
• 29:25
  Speaker 5: behind them, and now the market's looking forward to the
• 29:27
  Speaker 5: next quarter already. And so the market is always trying
• 29:32
  Speaker 5: to get ahead or the investors already trying to get
• 29:35
  Speaker 5: ahead of the market and looking forward. So you know,
• 29:43
  Speaker 5: when a tech stock or something like that, you know,
• 29:46
  Speaker 5: if it's trades at fifty times earnings, it better grow
• 29:50
  Speaker 5: because the average stock is trading at you know, twenty
• 29:53
  Speaker 5: times earnings. Why would you pay fifty times earning if
• 29:57
  Speaker 5: it's not growing faster r And so you know, the
• 30:01
  Speaker 5: tech stocks are still growing and the expectations are still
• 30:05
  Speaker 5: that they're going to continue to grow. But if there's
• 30:07
  Speaker 5: a little bit of a disappointment and said, well wait
• 30:09
  Speaker 5: a second, maybe it's only growing at fifteen percent and
• 30:13
  Speaker 5: instead of twenty two, well that's going to adjust what
• 30:16
  Speaker 5: you might be willing to pay for that.
• 30:18
  Speaker 3: I guess if you have something that's of a finite
• 30:21
  Speaker 3: size and something's growing with inside of it, when it's
• 30:23
  Speaker 3: really small and it's growing, you're making up a lot
• 30:25
  Speaker 3: of you know, that's a huge percentage that you're filling
• 30:27
  Speaker 3: up the room for When the room's almost full and
• 30:29
  Speaker 3: you're still growing, you're not the percentages that you're growing
• 30:32
  Speaker 3: isn't as big anymore. You're almost full to that, so
• 30:34
  Speaker 3: that you're right, I mean literally dis managed returns.
• 30:36
  Speaker 5: I guess it's incredible that the size of some of
• 30:39
  Speaker 5: these companies now that they can still grow at the
• 30:41
  Speaker 5: rates they have been.
• 30:43
  Speaker 4: It's it's just incredible.
• 30:45
  Speaker 5: But I think that's what we're also seeing and you
• 30:50
  Speaker 5: can see that in the returns this year so far.
• 30:53
  Speaker 5: The boring quote boring stocks, the industrials, the financials, the
• 30:58
  Speaker 5: things that have been left behind and are leading the
• 31:01
  Speaker 5: way this year. Quite frankly, even European stocks are beating
• 31:05
  Speaker 5: the US this year. Oh who would have thought that?
• 31:07
  Speaker 5: All right, but they're beat down so much. The expectations
• 31:11
  Speaker 5: are so low. It doesn't take very much positive to
• 31:13
  Speaker 5: move the needle.
• 31:15
  Speaker 3: And that's it's a great it's a great perspective to
• 31:19
  Speaker 3: look at things like that, because I think sometimes we
• 31:22
  Speaker 3: get a little narrow viewed on on the different stock
• 31:25
  Speaker 3: markets where there's going to be opportunity at I mean,
• 31:27
  Speaker 3: and that's another great reason why you need to be diversified.
• 31:30
  Speaker 3: We used to have a Bloomberg station that we carried
• 31:33
  Speaker 3: here on on our networks that we have here at
• 31:36
  Speaker 3: WVRC Media. And the one thing that was fascinating about
• 31:38
  Speaker 3: that Bloomberg station is if you listen to it through
• 31:40
  Speaker 3: the course of the day at nighttime, when it went
• 31:43
  Speaker 3: off air and stopped covering stopped covering the North American
• 31:46
  Speaker 3: stock market, is it's the US and everything else. It
• 31:49
  Speaker 3: didn't just like go into like examining what happened that
• 31:52
  Speaker 3: day on the US star market. It actually followed around
• 31:55
  Speaker 3: the world as stock markets opened up around the world
• 31:57
  Speaker 3: from different areas and gave you the news as it
• 32:00
  Speaker 3: I guess I always knew this, but it wasn't until
• 32:02
  Speaker 3: I started listening to I mean, people that do this
• 32:04
  Speaker 3: professionally for I mean, this is what they do, you know,
• 32:06
  Speaker 3: I mean, they're looking forward to the to the Asian
• 32:08
  Speaker 3: markets and everything else, and where are their opportunities where
• 32:11
  Speaker 3: there's gonna It's not it's it's global investing. You're not
• 32:14
  Speaker 3: just investing in the New York Stock Exchange. It's a
• 32:16
  Speaker 3: it's a global investment and the opportunities that are out
• 32:18
  Speaker 3: there for you. That's why you need to be aware
• 32:20
  Speaker 3: of what's going on a little bit.
• 32:21
  Speaker 5: Yeah, and it's very easy to have the home country
• 32:24
  Speaker 5: bias right exactly right, you know, which makes sense. I mean,
• 32:27
  Speaker 5: you know, the the home country is traded in your
• 32:31
  Speaker 5: own currency, and you have don't have the currency risk
• 32:34
  Speaker 5: that you do in some international investments. But you know,
• 32:37
  Speaker 5: the United States makes up twenty twenty five percent of
• 32:41
  Speaker 5: global economic activity. If you don't invest outside of the US,
• 32:46
  Speaker 5: you know, you may be missing some opportunity.
• 32:48
  Speaker 3: Yeah, because other other companies in other countries trying to
• 32:50
  Speaker 3: make money too, you know, so I mean you know
• 32:52
  Speaker 3: they're producing goods.
• 32:53
  Speaker 5: And even the US stocks, I mean, why is it
• 32:55
  Speaker 5: important to you know, look globally, take a company like
• 33:01
  Speaker 5: Coca Colas Americas as apple Pie, more of its earnings
• 33:06
  Speaker 5: are coming from overseas markets than the US. So even
• 33:11
  Speaker 5: US based companies are tied to the international markets.
• 33:15
  Speaker 3: That's pretty amazing. When you when again, when we think
• 33:18
  Speaker 3: of like our our like our sort of our home
• 33:20
  Speaker 3: bias or our personal bias, I think of something as
• 33:23
  Speaker 3: simple as iPhones versus android. You know, the the impression
• 33:26
  Speaker 3: is in most of the Western world for the most part,
• 33:29
  Speaker 3: that Apple is dominant in the market, because when you
• 33:31
  Speaker 3: look at the US and and the UK, for example,
• 33:34
  Speaker 3: it's it's dominant, it's it's uh, It's penetration is huge.
• 33:37
  Speaker 3: When you look at literally the rest of the world,
• 33:39
  Speaker 3: it's Android, you know, I mean it's it's uh in
• 33:41
  Speaker 3: more in developing countries and in other European countries and
• 33:44
  Speaker 3: stuff like that, it's Android. So when you look at
• 33:45
  Speaker 3: the global market, it's actually fairly even when it comes
• 33:49
  Speaker 3: to Apple versus Android. But depending on where you are
• 33:52
  Speaker 3: you think that it's weird for other people, Like the
• 33:54
  Speaker 3: whole thing where it's weird for people to have like
• 33:55
  Speaker 3: an Android phone or whatever it is, it's not necessarily
• 33:57
  Speaker 3: true globally. It's just in your frame group, you know, basically.
• 34:01
  Speaker 4: Let's try it.
• 34:02
  Speaker 5: You know, here there's more peer pressure that the that
• 34:04
  Speaker 5: the text color is correct with you.
• 34:07
  Speaker 3: The weirdest thing. I know, it's so weird. Anytime somebody
• 34:10
  Speaker 3: says something about that, I'll take them a little less seriously.
• 34:13
  Speaker 4: I don't even know what color is supposed to be.
• 34:16
  Speaker 3: That's exactly me as well. That's exactly me as well.
• 34:19
  Speaker 3: If you wanted to get in the last couple of
• 34:20
  Speaker 3: minutes here, You're more than welcome to you gets call
• 34:22
  Speaker 3: this morning. Threes are four three, four two eight one
• 34:23
  Speaker 3: three one. Threes are four three, four, two eight one
• 34:25
  Speaker 3: three one. If you want to get in just for
• 34:27
  Speaker 3: the last couple of minutes this morning and control any
• 34:29
  Speaker 3: part of the conversation with John Bredebt, FRO Fourth Avenue, Financial.
• 34:32
  Speaker 3: We're just talking about trying to talk about financial sound
• 34:34
  Speaker 3: financial strategies, where you look for for your information, how
• 34:37
  Speaker 3: you process information and put the tools best to your advantage.
• 34:40
  Speaker 3: Because there's tons of tools that are available for you
• 34:42
  Speaker 3: out there. And maybe the last time you looked at
• 34:45
  Speaker 3: the toolbox was four or five years ago, and that
• 34:48
  Speaker 3: what the tools that are going to be at the
• 34:49
  Speaker 3: top of the box now are probably a little different
• 34:51
  Speaker 3: than the last time you looked.
• 34:52
  Speaker 4: Yeah, no doubt about it.
• 34:53
  Speaker 5: And if you know, and if you really want to
• 34:56
  Speaker 5: change strategies up, let's just sell everything and buy eggs.
• 35:01
  Speaker 3: My wife said me a meme this weekend. It was
• 35:04
  Speaker 3: a jewelry box where a guy was holding it out
• 35:06
  Speaker 3: to his significant other and in the box was just
• 35:08
  Speaker 3: an egg.
• 35:09
  Speaker 4: There you go.
• 35:10
  Speaker 5: But just like we talked about in the in the
• 35:13
  Speaker 5: oil markets a few years ago, what is the cure
• 35:17
  Speaker 5: for high prices? High prices, high prices will will basically
• 35:24
  Speaker 5: telegraph to the producers, we need to get some more
• 35:26
  Speaker 5: eggs onto the market.
• 35:28
  Speaker 3: And find some healthy chickens and get them out there.
• 35:31
  Speaker 5: Yeah yeah, so so it'll it will self correct. That's
• 35:34
  Speaker 5: the way markets work, unless they're fiddled with too much.
• 35:38
  Speaker 3: Yeah, right, want the fiddling.
• 35:40
  Speaker 4: That's the way free markets work anyway.
• 35:44
  Speaker 3: And and and as far as saying and then that
• 35:45
  Speaker 3: goes into like when we talk about consumer sentiment things
• 35:48
  Speaker 3: like that. I was reading some stuff about that, and
• 35:49
  Speaker 3: it is pretty odd how just a couple of things
• 35:52
  Speaker 3: can drive sentiments so much. And we saw this around
• 35:54
  Speaker 3: the election tom that it was that sticky prices were
• 35:57
  Speaker 3: a huge issue about quote unquote inflation. It didn't matter
• 36:00
  Speaker 3: how much people told you the underpinnings of inflation's coming down.
• 36:03
  Speaker 3: It's not gonna be that. People didn't care. That's literally
• 36:06
  Speaker 3: the price of eggs is what drives the discussion. And
• 36:08
  Speaker 3: we're in that same boat still now. I mean, the
• 36:10
  Speaker 3: price of eggs haven't come down, and.
• 36:11
  Speaker 5: The price of eggs is certainly, you know, important, but
• 36:15
  Speaker 5: in the grand scheme of the basket of things that
• 36:18
  Speaker 5: you purchase, it's just one item. If you look, we've
• 36:22
  Speaker 5: been almost two full years now where the average wage
• 36:27
  Speaker 5: is outstripping the rate of growth of inflation. So we've actually,
• 36:33
  Speaker 5: for almost two years now have been building purchasing power
• 36:38
  Speaker 5: over the rate of inflation as a whole. Now, are
• 36:43
  Speaker 5: we caught back up yet from the big inflation hike
• 36:46
  Speaker 5: that we had when wages did not cover, No, But
• 36:49
  Speaker 5: we're getting pretty close, and so that's why you're seeing.
• 36:53
  Speaker 5: You know, the consumer overall is very healthy right now
• 36:57
  Speaker 5: and spending because those earnings are certainly catching up with
• 37:03
  Speaker 5: the rising prices that we've had. Now there's even a
• 37:06
  Speaker 5: risk that if the earnings keep out stripping inflation significantly
• 37:12
  Speaker 5: like they have been for the last couple of years,
• 37:14
  Speaker 5: we could be on the other side of the coin
• 37:16
  Speaker 5: where all those wages produce inflation because there's more income
• 37:23
  Speaker 5: chase goods and services. So you know, there's a fine
• 37:26
  Speaker 5: line there that's it's always a balancing act and it's
• 37:29
  Speaker 5: always going from one side to the next.
• 37:31
  Speaker 3: We've been talking about threading that needle for a long time,
• 37:33
  Speaker 3: and it seems never stopped. Astronerdett with fourth Avenue Financials.
• 37:37
  Speaker 3: Just a couple of seconds left in the program this morning,
• 37:39
  Speaker 3: let me make sure you have the information to get
• 37:40
  Speaker 3: a hold of John Forth Avenue Financial