Latest / WCHS Network Podcasts / 12/29/2025 Retire Right Radio with John Burdette

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12/29/2025 Retire Right Radio with John Burdette · WCHS Network Podcasts

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Speaker 1: Unlock your dream property with Meeks Realty Group, where Rich
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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. This is retire Right Radio,
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Speaker 2: a weekly show from John Verdett at Fourth Avenue Financial
0:30
Speaker 2: that aims to answer your questions about financial planning, investing,
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Speaker 2: and how to retire right. Fourth Avenue Financial is located
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Speaker 2: in downtown Charleston at one seventy Court Street. More information
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Speaker 2: online at Fourth Avenue Financial dot com. Join the conversation
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Speaker 2: by calling three oh four three four five fifty eight
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Speaker 2: fifty eight or text three oh four nine three five
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Speaker 2: fifty oh eight. On retire Right Radio, let's go live
0:56
Speaker 2: to the studio with host Dale Cooper and John Verdett
0:59
Speaker 2: from fourth a ffave any financial features.
1:03
Speaker 3: And a very place to Good morning to you. You're
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Speaker 3: listening to retire Right Radio one five iver you see
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Speaker 3: HS the Voice of Charleston. Happy Monday to you. Congratulations
1:10
Speaker 3: you made it through the weekend. Presumably you made it
1:13
Speaker 3: through Christmas also, presumably, and you're back with us here
1:17
Speaker 3: on a Monday morning from Charleston, West Virginia. That's where
1:21
Speaker 3: John Burdad is and that's where I am. You're welcome
1:22
Speaker 3: to us to call this morning if you have any
1:23
Speaker 3: questions for John, if you need help on how you
1:26
Speaker 3: can retire right Maybe you got a big gift over
1:28
Speaker 3: the holiday and you're wondering what you're going to do
1:30
Speaker 3: with it, or just seeing all your family members and
1:32
Speaker 3: you have some conversations around the table you're like, man,
1:34
Speaker 3: it's about time I get started with my retirement as well.
1:36
Speaker 3: Or maybe a loved one just announced their retirement during
1:39
Speaker 3: the holidays and you're like, man, I want to get
1:40
Speaker 3: there someday too. So John can help you out with
1:43
Speaker 3: any of those questions you might have this morning. If
1:44
Speaker 3: you need to help getting one foot in front of
1:46
Speaker 3: the other, you can give us a call. Threes are
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Speaker 3: A four three four five fifty eight three four five
1:50
Speaker 3: fifty eight fifty eight. Happy holidays everyone and John, welcome
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Speaker 3: into the studio again. How you doing this morning.
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Speaker 4: I'm doing wonderful. Back in the chair.
1:56
Speaker 3: Oh you are back in the chair. Yeah, yeah, I'm glad,
1:59
Speaker 3: glad things are working out as far as that goes.
2:01
Speaker 3: You have a good holiday, Yeah, yeah, I was.
2:03
Speaker 4: Busy as usual, but certainly a lot of fun. And
2:08
Speaker 4: before the show we were talking about my my son's
2:12
Speaker 4: Christmas gift. He got that three D n Yeah, and
2:16
Speaker 4: you know, I'm just fascinated. I don't understand how it works,
2:19
Speaker 4: but it's amazing.
2:21
Speaker 3: I'm really I'm kind of fascinated vicariously, I think through
2:25
Speaker 3: you because I'm very interested in exactly what that is,
2:28
Speaker 3: that would mean from a what that would mean from
2:32
Speaker 3: like just a productivity standpoint, like all the things that
2:34
Speaker 3: you could possibly get done that that could get you there,
2:37
Speaker 3: you know. I mean there's a lot of stuff there,
2:39
Speaker 3: you know, as far as what three D print can.
2:42
Speaker 4: Do, and the fact that you can, you know, reasonably
2:45
Speaker 4: have this in your home. I mean it prints boxes
2:48
Speaker 4: with hinges and things that I'm not sure how it
2:52
Speaker 4: does it, but you know, you couple that with AI
2:57
Speaker 4: and all these other things going on, and I mean
3:00
Speaker 4: we're not far from the Jetsons.
3:02
Speaker 3: I mean, the truth is is once you get something
3:05
Speaker 3: like that, and we're not going to break down into
3:07
Speaker 3: a technological show here, but once you get something like
3:11
Speaker 3: that and you're familiar with it, you know, you work
3:14
Speaker 3: with templates or archetypes or something along those lines, you
3:17
Speaker 3: will eventually be able to start making things modifications. Maybe
3:21
Speaker 3: you take a template, you make a little modification of
3:23
Speaker 3: your own to get it to work out, but eventually
3:25
Speaker 3: you start making your own stuff, you know, and who
3:27
Speaker 3: knows how productive that could be. I always thought it
3:29
Speaker 3: would be neat, Like if I was a kid of
3:32
Speaker 3: a certain age and learn how to do these things
3:34
Speaker 3: like I always was fascinated with, like making my own
3:36
Speaker 3: action figures and stuff like that. I think it would
3:38
Speaker 3: be really cool to do something like that. And you
3:39
Speaker 3: could do that, And I'm.
3:41
Speaker 4: Sure that just the the cycle of inventing things and prototypes,
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Speaker 4: developing prototypes, it's got to be much easier than it
3:50
Speaker 4: used to be.
3:51
Speaker 3: Yeah, right, it's just you can I mean, honestly, you
3:54
Speaker 3: can ask AI to do a lot of this stuff
3:55
Speaker 3: for you. And that's what it's good at. There's a
3:57
Speaker 3: lot of things that's not good at, but putting together
3:59
Speaker 3: pas terans and and troubleshooting ideas is actually one of
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Speaker 3: the things that's very good at. So that's man, It's
4:05
Speaker 3: hard to tell what your son will come up with.
4:07
Speaker 3: Who knows, Yeah, maybe something he can sell, right, I'd
4:10
Speaker 3: be scary, Yeah, right, you never know. Threes are four three, four, five,
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Speaker 3: fifty eight fifty. If you have any questions for us
4:15
Speaker 3: this morning, for John this morning, threes are a four
4:17
Speaker 3: three four five fifty to fifty eight. We'll try to
4:19
Speaker 3: get you there. As far as you know, there was
4:22
Speaker 3: talks about the Santa Claus rally, what was going to
4:24
Speaker 3: happen at the end of the at the end of
4:26
Speaker 3: the year, which we're still in. This is kind of
4:28
Speaker 3: a silly week, I guess to some degree these two
4:31
Speaker 3: weeks here there because of the days of trading, the
4:34
Speaker 3: holiday falling in the middle week, the Eve, and the
4:36
Speaker 3: day after all coming within the week. That's a little
4:38
Speaker 3: bit unusual. We're all three of those days, the Eve,
4:40
Speaker 3: the day of, and the day after all come during
4:43
Speaker 3: the trading week. So it's a little bit of a
4:44
Speaker 3: silly two weeks period.
4:46
Speaker 4: Which just makes it a very low volume, yeah, kind
4:48
Speaker 4: of period or stretch. Of course, the market was up
4:52
Speaker 4: last week. I mean, we're continuing to log records. I
4:57
Speaker 4: think there were thirty nine s and p five hundred
5:01
Speaker 4: record highs during the year, so a little more than
5:04
Speaker 4: one in every ten days. We were at a record
5:06
Speaker 4: high this year. So it was a pretty good, pretty
5:09
Speaker 4: good progress this year. The market, the SMP was up
5:12
Speaker 4: seventeen point eight percent, the Dow up fourteen and a half,
5:16
Speaker 4: in the NASDAK up twenty two so just all across
5:20
Speaker 4: the board, strong performance. And you know, looking at certain
5:26
Speaker 4: things like oil prices down twenty percent last year. So
5:29
Speaker 4: the market's up and oil is down, that's a good thing.
5:32
Speaker 3: Yeah, that is a good thing, right, and which must
5:35
Speaker 3: be why the gas prices were a little flat over
5:38
Speaker 3: the holiday as well.
5:39
Speaker 4: Yep. So you know things are shaping up. You know,
5:44
Speaker 4: we're entered in the year at a double digit gain.
5:47
Speaker 4: Last year, we were at a double digit gain. You
5:51
Speaker 4: know a lot of folks look at that and say, well,
5:53
Speaker 4: next year can't be a double digit gain. That wouldn't
5:56
Speaker 4: be unprecedented. So you know, the jury's out, certainly fully
6:00
Speaker 4: out on what's going to happen next year. But the
6:03
Speaker 4: foundations of things, corporate earnings are still looking good.
6:07
Speaker 3: Obviously, you don't have a crystal ball and you don't
6:09
Speaker 3: have any influence on things like this. But broadly speaking,
6:12
Speaker 3: if you had your preferences, I guess would you like
6:15
Speaker 3: to see like a broadening of the market going into
6:17
Speaker 3: next year, to see like some of the gains that
6:19
Speaker 3: we got in the broadening there tech to stay solid,
6:21
Speaker 3: but those things working together instead of sort of sea
6:24
Speaker 3: sawing back and forth would really mean something would take off, right, no.
6:27
Speaker 4: Doubt about it. I mean, certainly the tech stocks rule
6:30
Speaker 4: the day here lately, the market has been broadening. You know,
6:35
Speaker 4: when people look at valuations, the tech stocks certainly are
6:40
Speaker 4: richly valued, but the rest of the market is pretty reasonable,
6:45
Speaker 4: and for the market to plow higher, I think that
6:49
Speaker 4: is the most likely path to that.
6:52
Speaker 3: Is there a potential not for professionals like yourself, but
6:55
Speaker 3: for folks that are on the outside thinking about the
6:56
Speaker 3: different industries and opportunities and things along those lines. We're
7:00
Speaker 3: so hot on AI right now, we talk about that.
7:02
Speaker 3: I mean that leads every discussion. Whether you hate it
7:04
Speaker 3: or you love it, or you're somewhere in the middle,
7:05
Speaker 3: it seems to lead every discussion. There's so much technology
7:08
Speaker 3: out there, though, and it seems like that, there's all
7:11
Speaker 3: this opportunity of things that are becoming greater and grander
7:15
Speaker 3: that there's a lot of opportunity out there that's beyond
7:17
Speaker 3: the AI sectors, oh.
7:19
Speaker 4: No doubt about it. And but the thing is the technology, Yes,
7:24
Speaker 4: when it's invented and created is exciting, but all those
7:28
Speaker 4: other companies have to use that technology to make themselves
7:31
Speaker 4: more efficient and that's how that's why it spills over
7:36
Speaker 4: into the rest of the of the market. You know,
7:38
Speaker 4: what good is a technology if it doesn't make a
7:41
Speaker 4: business or the end user more efficient, more profitable, and
7:46
Speaker 4: so eventually that translates to earnings broadly across all of
7:50
Speaker 4: the market.
7:51
Speaker 3: You know, I was reading a little bit this weekend
7:53
Speaker 3: on what's referred to as like the Papal mafia. You know,
7:56
Speaker 3: the investors that got together that were on the ground
7:58
Speaker 3: floor there, I think and and musk Teal all these
8:02
Speaker 3: people were involved with PayPal when it first came together.
8:05
Speaker 3: But the one thing that was foundational about PayPal that
8:08
Speaker 3: you know, people forget it was one of the first
8:11
Speaker 3: major transaction things that did what it did, and it
8:13
Speaker 3: was able to bring together all of that online commerce,
8:17
Speaker 3: and that is a I mean That's just an example
8:19
Speaker 3: of something that when it gets it right and something
8:21
Speaker 3: falls into something that there is need, and suddenly what
8:23
Speaker 3: do you have. You have PayPal being used everywhere for
8:25
Speaker 3: a payment method, right, not just at certain places or
8:27
Speaker 3: anything along those lines. Are their rivals today. Sure you
8:29
Speaker 3: can use Google Play and Apple Pay and different things
8:32
Speaker 3: along those lines, but PayPal was the first, and generally speaking,
8:34
Speaker 3: everywhere that has a Google Pay, Apple Pay and stuff
8:37
Speaker 3: like that had PayPal first, you know, and there might
8:39
Speaker 3: be other options now, but that was one of the
8:40
Speaker 3: first ones. And in reading about that this weekend, I
8:43
Speaker 3: was saying, that is a great example of one of
8:45
Speaker 3: these things. Whatever you think about the guys that were
8:46
Speaker 3: involved with it, that is one of those things that
8:48
Speaker 3: became intricate to how we survived, how we were getting
8:51
Speaker 3: buy as a society. And so of course that's something
8:53
Speaker 3: that I mean, what do we have from the technological
8:58
Speaker 3: people today that was born from investments made originally in
9:02
Speaker 3: directions and doing different things Again, whatever you may think,
9:05
Speaker 3: certainly huge shifts in the technological space that came from
9:09
Speaker 3: these people that invested in that space very early on.
9:13
Speaker 4: Sure, and and and that's how that's how money works.
9:16
Speaker 4: You know, if you if you do productive things with money,
9:21
Speaker 4: you generally have the runway. The market gives you the
9:25
Speaker 4: run way to try other things because you've proven you know,
9:28
Speaker 4: you have a proven track record. And that's why you
9:31
Speaker 4: see a lot of the same names over and over
9:33
Speaker 4: again in these spaces. You know, people want to get
9:36
Speaker 4: on the on the bandwagon of somebody who who has
9:39
Speaker 4: a history of putting those ideas together.
9:42
Speaker 3: And and to some degree, although not specifically when it
9:45
Speaker 3: comes to that level of individual, but practices that have
9:49
Speaker 3: been employed over decades, multiple decades to a lot of degrees,
9:54
Speaker 3: are the things that that you employ. Of course, these
9:56
Speaker 3: things are are nudged as time goes along, and you
10:00
Speaker 3: know what we have the regulations change and different things
10:03
Speaker 3: along those lines. But the bottom line is is the
10:05
Speaker 3: methods that you use in order to retire right, what
10:07
Speaker 3: you what you instruct your clients with, and what you
10:10
Speaker 3: help them with. These are all strategies that have worked forever.
10:14
Speaker 3: I mean, it's just they work a period full stop.
10:16
Speaker 4: Basically, by participating in the market, you're participating in all
10:20
Speaker 4: of those ideas that are percolating out there, all of
10:24
Speaker 4: the changes that are happening, all of the improvements in
10:29
Speaker 4: the way goods and services are produced and delivered. You're
10:33
Speaker 4: participating that. When you broadly own the market, you know
10:37
Speaker 4: it's it's when you're out working your job serving people.
10:43
Speaker 4: You know you're doing doing your part in that whole system.
10:46
Speaker 4: But when you retire, you know what's out there, Well,
10:50
Speaker 4: you're not out there anymore, but your money can be
10:54
Speaker 4: through the ownership of those companies that replaces that the
10:58
Speaker 4: service that you're no longer doing, your companies are doing.
11:02
Speaker 4: And that's why that works. That's why it tends to
11:04
Speaker 4: keep up with inflation over time, because you're still relevant
11:09
Speaker 4: in the current marketplace. When you own a broad investment
11:13
Speaker 4: in the market.
11:14
Speaker 3: That's is always great advice. And I've seen it come
11:17
Speaker 3: to fruition so much over the course of years here
11:20
Speaker 3: as we see the EBB and the flow of the market.
11:22
Speaker 3: I mean, the strategies work and exactly what you talk
11:24
Speaker 3: about is exactly what you see each time. As far
11:27
Speaker 3: as the things you find that are successful, or the
11:29
Speaker 3: things that create some sort of a of a value,
11:31
Speaker 3: whatever that value may be. The things that are a
11:34
Speaker 3: little bit more volatile, like bitcoin, for example. It's not
11:36
Speaker 3: that bitcoin is value less necessarily it's just man, what
11:41
Speaker 3: do you what are you betting on?
11:41
Speaker 5: You?
11:42
Speaker 3: I mean, because that's basically what you're doing. It's sky high,
11:44
Speaker 3: it crashes up, down, up, down. Somebody thinks they haven't
11:47
Speaker 3: figured out. It's like, well, it's because of this, and
11:49
Speaker 3: then the next time it doesn't react in the same way.
11:51
Speaker 3: You can't predict it. I mean, that's a problem of volatility.
11:55
Speaker 3: There can be a high risk hover word situation. But
11:58
Speaker 3: when you're trying to plan for a retirement or along
12:00
Speaker 3: those lines, getting involved, I guess overweighted in those spaces,
12:05
Speaker 3: this could be a real issue because those don't rely
12:08
Speaker 3: on the same mechanisms of decades of proven track records.
12:12
Speaker 4: Yeah, you know, when you buy a company, you're buying
12:15
Speaker 4: a stream of earnings. You know, they are earning money
12:19
Speaker 4: delivering their goods and services. You know, right now, gold
12:25
Speaker 4: and silver are hot. Yes, the price is up, but
12:29
Speaker 4: it's really not producing anything. It's not producing a dividend stream.
12:33
Speaker 4: It doesn't have an earning stream. You know, long term,
12:36
Speaker 4: when you look at and you'll see charts like right
12:39
Speaker 4: now with precious metals, you see charts showing that, oh,
12:44
Speaker 4: it's outperformed the market over you know, the last fifteen
12:48
Speaker 4: years or thirty years or whatever time period they choose
12:52
Speaker 4: to use. Those always leave out the dividends and the
12:57
Speaker 4: compounding of that. It's just looking at the phenomenal price
13:01
Speaker 4: of the market then versus the price of the market. Now,
13:04
Speaker 4: there's a whole lot more that goes into your total
13:07
Speaker 4: return than just that. Once you add that in, there
13:11
Speaker 4: is just no comparison to owning productive companies that are
13:16
Speaker 4: actively producing and trying to grow their earning streams. And
13:20
Speaker 4: that's what history shows.
13:23
Speaker 3: It's just great advice and things that we see that
13:25
Speaker 3: come to fruition each time. And if you're kind of
13:28
Speaker 3: on if you're somebody who wants to be involved in
13:32
Speaker 3: your retirement, but also you're into the news and headlines
13:34
Speaker 3: and different things along those lines. And maybe we've talked
13:37
Speaker 3: about this before when I mean years ago, when we
13:40
Speaker 3: were talking about the cannabis industries and stuff like that.
13:43
Speaker 3: There's ways that you can and that was really highly
13:46
Speaker 3: volatile until they came out with you know, there were
13:48
Speaker 3: funds that you could play around with there. So instead
13:50
Speaker 3: of finding companies or whatever, you can find a mutual
13:52
Speaker 3: fund that if you wanted to play around in that space.
13:54
Speaker 3: I think bitcoin did the same thing. There became an
13:56
Speaker 3: option where there was actually a fund that dealt with bitcoins,
13:59
Speaker 3: so you didn't have to invest directly into a particular
14:02
Speaker 3: coin or something along those lines. If you're somebody that's
14:05
Speaker 3: curious about some of these things, and if you want
14:07
Speaker 3: to set aside with advice, you know, some portion of
14:10
Speaker 3: what you do to play around, you can do that,
14:12
Speaker 3: I guess, but you should do that separately and not
14:15
Speaker 3: with your main investment strategies and things like that.
14:18
Speaker 4: Yeah, if you're wanting to comfortably retire, the rules to
14:23
Speaker 4: do that, the plan to do that is pretty you know,
14:27
Speaker 4: pretty known. I wouldn't stray from that. With your serious money.
14:32
Speaker 3: With this one quick trick, I can get you to
14:34
Speaker 3: retirement ten years earlier.
14:36
Speaker 4: Right and right now, we're seeing that at the end
14:39
Speaker 4: of every year, there are articles that come out talking about,
14:43
Speaker 4: here's what you need to do for next year. Well,
14:47
Speaker 4: what you need to do for next year is pretty
14:49
Speaker 4: much the same thing that you should have been doing
14:52
Speaker 4: all the years, you know, living below your means, saving
14:58
Speaker 4: and investing consistently over time, you know, staying the course,
15:03
Speaker 4: not panicking, making adjustments to your portfolio, not because of
15:07
Speaker 4: news stories, but because of changes in your life or
15:10
Speaker 4: or your time horizon. You know, those are the things
15:13
Speaker 4: that that are are just proven to work over time.
15:19
Speaker 4: Getting away from the emotional uh, you know, fear and greed, trade,
15:24
Speaker 4: and sticking to a belief in the process. You know,
15:29
Speaker 4: and that process is really focusing on the things that
15:34
Speaker 4: you control. You don't control the news and what goes on.
15:38
Speaker 4: You don't control what technology is invented or not invented.
15:43
Speaker 4: You control what you can control. You control how much
15:47
Speaker 4: you invest and how much you save. You can control,
15:52
Speaker 4: you know, setting your goals. You know, if you set
15:55
Speaker 4: a goal that's twenty years away for retirement, why would
15:59
Speaker 4: you change that if the president changes, if the you
16:02
Speaker 4: still need to retire no matter who is in charge.
16:05
Speaker 4: That's still your personal goal. Don't surrender those things to
16:11
Speaker 4: the news of the day. You know, that's that doesn't
16:15
Speaker 4: make any sense to me. You know, you need to
16:18
Speaker 4: focus on what's important to you and then pull the
16:21
Speaker 4: levers that you control to get there.
16:24
Speaker 3: I feel that there's a lot of and we talk
16:27
Speaker 3: about this a lot, but I think there's a lot
16:28
Speaker 3: of valuable insight there because you see a lot of
16:31
Speaker 3: times people that get so dowed into their the political
16:37
Speaker 3: zeitgeist that they will almost trick themselves into into things.
16:41
Speaker 3: For example, people that want to pretend there was no
16:43
Speaker 3: price increases during the Biden administration. Hey, everything's fine. What
16:47
Speaker 3: are you talking about. It doesn't cost me any more
16:49
Speaker 3: to do anything, when legitimately, yes, it was. There's no
16:51
Speaker 3: question it was for everybody there was. And now suddenly
16:54
Speaker 3: the people that were calling those people liars are now like, oh,
16:57
Speaker 3: there's no everything's great, and prices aren't going up. Yeah
17:00
Speaker 3: they really are. Things are way more expensive than they
17:02
Speaker 3: used to be. It didn't change because the president changed
17:05
Speaker 3: suddenly overnight. It just didn't happen that way. And people
17:07
Speaker 3: will trick themselves into saying that a god that suddenly
17:10
Speaker 3: wanted to jettis in the market in December last year
17:13
Speaker 3: was all in in January of this year. Doesn't make
17:15
Speaker 3: any sense. That's not the way things change.
17:17
Speaker 4: No, No, And there again, when you buy a company,
17:22
Speaker 4: when you buy into the market, you buy into the
17:25
Speaker 4: earnings ability of that company, not just today's earnings, but
17:29
Speaker 4: their future earnings. And that you know what kind of
17:34
Speaker 4: policy overnight changes?
17:35
Speaker 3: Nothing? Nothing and whatever does. And again we've said this
17:39
Speaker 3: time and time, whatever policy does change, the CFOs and
17:41
Speaker 3: the people that get paid tons of money that everybody
17:43
Speaker 3: complains about, right, the people that make tons of money
17:46
Speaker 3: at those companies, guess what, they change their strategy as well,
17:50
Speaker 3: so they can still make as much money as they
17:51
Speaker 3: possibly can with whatever the downward effects are of whatever
17:55
Speaker 3: the policy change would be. Now, there might be more
17:57
Speaker 3: policies that are a little greasier than others, you know,
18:00
Speaker 3: to make the rails a little slippery, but that doesn't
18:02
Speaker 3: mean that the guy is sitting at the top to
18:03
Speaker 3: make money for that company or suddenly like, oh that's it.
18:06
Speaker 3: Now we have whatever this is, We're not gonna make
18:08
Speaker 3: money anymore. No, they're going to find ways to make
18:10
Speaker 3: the money. Absolutely, even if it means passing the cost
18:12
Speaker 3: on to their consumers that gets like rolled in over
18:14
Speaker 3: time and they don't even notice it anymore, and they
18:17
Speaker 3: they're still profitable. They're gonna find ways to make that
18:19
Speaker 3: money just way.
18:20
Speaker 4: That's the way the price sure, right, that's the goal.
18:23
Speaker 3: Yeah, And that's how companies and that's the company you
18:25
Speaker 3: want to invest in because they found a way to
18:26
Speaker 3: roll with the punches right, right, makes a lot of sense.
18:28
Speaker 3: All right, Well, let's do this. Let's take a break.
18:30
Speaker 3: We still have stuff we want to talk about. I'd
18:31
Speaker 3: love for you to participate in our conversation some this
18:33
Speaker 3: morning and give us a call three zero four three
18:34
Speaker 3: four five fifty eight fifty eight three four five fifty
18:36
Speaker 3: eight fifteen. You can send over a text question if
18:38
Speaker 3: you'd like as well. Three zero four non three five
18:41
Speaker 3: five zero zero eight and get the text machine fired
18:43
Speaker 3: up this morning, if you'd like, three zero four non
18:44
Speaker 3: three five five zero zero eight. Let's go ahead and
18:47
Speaker 3: do this. Let's take a break. When we come back,
18:49
Speaker 3: still have plenty of interactions from you, your phone calls,
18:51
Speaker 3: your texts, and more from job bre debt from Fourth
18:53
Speaker 3: Avenue Financial. You can find out more information online. It's
18:55
Speaker 3: fourth Avenue Financial dot com. You spell it the whole thing,
18:57
Speaker 3: Fourth Avenue Financial dot com. Do that same like or
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Speaker 3: page and get kept up to date with all the
19:04
Speaker 3: information there. We'll be back right for this. You're listening
19:06
Speaker 3: to retire Rte Radio. I'm Del Cooper. That's John Burdett.
19:08
Speaker 3: This is five ADWCHS, the Voice of Charleston.
19:10
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19:33
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Speaker 5: This is Retire Right Radio with John Burdett from Fourth
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21:25
Speaker 3: VON you're listening to the voice of Charleston VT w
21:33
Speaker 3: c HS. I'm gonna kick for Thanks for tuning in,
21:35
Speaker 3: jaqueen flagging. I need to fix that one because that
21:39
Speaker 3: is just way too uh just goes just straight off.
21:42
Speaker 3: I don't I think I noticed. I need to. I
21:44
Speaker 3: need to update all of these I think is what
21:46
Speaker 3: that comes down to. Thanks for tuning in this morning.
21:49
Speaker 3: I'm del Cooper. That's John Burdett with Fourth Avenue Financial
21:51
Speaker 3: and gives a call this morning. Three zero four three
21:53
Speaker 3: four five fifty fifty eight three zerre a four three
21:55
Speaker 3: four five fifty to fifty eight. You can text over
21:56
Speaker 3: your questions if you have any questions along those lines.
21:59
Speaker 3: Text line is threes are four non three five five
22:01
Speaker 3: zero zero eight three zero four non three five five
22:03
Speaker 3: zero zero eight. If someone was gifted some money over
22:07
Speaker 3: the holidays from a loved one or or a grandparent,
22:11
Speaker 3: or however those things might be, of course, our first
22:14
Speaker 3: opportunity is, and maybe it would be a good opportunity
22:17
Speaker 3: to get your snowball started. So if you gifted some
22:19
Speaker 3: money and you maybe have some debts out there that
22:20
Speaker 3: you could eliminate right away and just cut them off.
22:24
Speaker 3: I think we talked about this as briefly last week.
22:26
Speaker 3: You can't save until you pay things off. So you
22:28
Speaker 3: might get that. You might get that money and be like, hey,
22:30
Speaker 3: I'm just gonna put this straight into the my savings
22:32
Speaker 3: account and save some money. Now that's great, but if
22:34
Speaker 3: you still have those debts out there, it's not helping you.
22:36
Speaker 4: Yeah, if you're paying, you know, twenty five thirty percent
22:39
Speaker 4: or more on a credit card, there's no way you
22:41
Speaker 4: out are in that in the market. And that also
22:46
Speaker 4: tells you that there's something wrong with your budget if
22:49
Speaker 4: you have credit card debt, if you have consumer debt.
22:52
Speaker 4: So those are the things that need to be fixed
22:55
Speaker 4: before you move on to investing. You know, you need
22:58
Speaker 4: to have all those consumer debts paid off. You need
23:02
Speaker 4: to have an emergency fund of three to six months
23:05
Speaker 4: so that you can deal with the unexpected things without
23:08
Speaker 4: taking on credit card debt in the future. And then
23:12
Speaker 4: at that point you can start making those investments for
23:16
Speaker 4: the long term. Because you have the foundation built. You
23:19
Speaker 4: really can't skip those steps. Because if you have the
23:23
Speaker 4: foundation built, you really can't skip those steps because if
23:28
Speaker 4: you skip the steps, it's inevitable that you'll be liquidating
23:33
Speaker 4: your investments to take care of something that wasn't fixed
23:37
Speaker 4: to begin with. A lot of times you're taking penalties
23:40
Speaker 4: when you do that, particularly in retirement accounts because they're
23:44
Speaker 4: tax deferred, so if you're under fifty nine and a half,
23:47
Speaker 4: you have a ten percent penalty. You just want to
23:49
Speaker 4: avoid all those things, and the way you do that
23:52
Speaker 4: is starting out with a firm foundation. So if you
23:55
Speaker 4: are fortunate enough to have a little bit of a
23:57
Speaker 4: windfall Christmas, you know, those are the steps that you
24:02
Speaker 4: need to take get your foundation built, and then you
24:06
Speaker 4: know you can start building for the future with investment.
24:10
Speaker 3: That makes great sense. And there's so much that goes
24:13
Speaker 3: into that because and we actually had somebody commented on
24:16
Speaker 3: our last show last Monday when we were talking about
24:19
Speaker 3: financial literacy and school and stuff like that, and our
24:22
Speaker 3: Texter made the point that there are classes now that
24:25
Speaker 3: kids can take which with different levels of financial literacy
24:28
Speaker 3: when you get into when you get into school, which
24:30
Speaker 3: and that's great, I mean understanding some of this stuff
24:33
Speaker 3: and teaching some of these things before you get to
24:34
Speaker 3: adulthood would be very important because a lot of what
24:37
Speaker 3: we talk about here are practices that how are you
24:41
Speaker 3: going to know the best practices if you've never had
24:43
Speaker 3: a job before, if you've never had money to be
24:45
Speaker 3: responsibleore and things like that. There's only one way to
24:47
Speaker 3: do thats to teach it, right. I mean, you can
24:48
Speaker 3: do things where you where as parents, you can try
24:51
Speaker 3: to set something up and help, but as far as
24:53
Speaker 3: like relying on the education system to help you out
24:55
Speaker 3: some you've got to teach those things a little bit.
24:57
Speaker 4: Yes, Otherwise you know, the school of hard knocks comes
25:01
Speaker 4: to play right, and and you know that tuition is
25:05
Speaker 4: awfully steep.
25:07
Speaker 3: Uh.
25:08
Speaker 4: They're just basic things. I mean, the path to being
25:12
Speaker 4: financially successful, it is not complicated. It's not something that
25:18
Speaker 4: you need to be, you know, particularly intelligent to be
25:22
Speaker 4: able to do it. Really is just a handful of
25:27
Speaker 4: steps and a little bit of discipline, is what it
25:32
Speaker 4: really takes. A kindergartener can almost understand the steps. You know, hey,
25:37
Speaker 4: live below your means, create savings and investment. You know
25:41
Speaker 4: that that basically is is the whole thing. You know,
25:46
Speaker 4: Then you throw in you know, I need the emergency
25:48
Speaker 4: find I need that foundation built. But then after that
25:52
Speaker 4: it it almost is on cruise control if you allow
25:55
Speaker 4: it to be, if you don't meddle with the process,
25:58
Speaker 4: which which a lot of folks have a tendency to
26:01
Speaker 4: do because of predominantly things you can't control, news cycles,
26:06
Speaker 4: things of that nature. So you know, definitely, you know,
26:12
Speaker 4: figure those steps out and stick to that plan, and
26:17
Speaker 4: it's almost inevitable that you will be successful. I mean,
26:20
Speaker 4: think about it. If you own businesses that are profitable
26:27
Speaker 4: and you're patient, how do you not succeed? It's almost
26:34
Speaker 4: that that easy. And yes, sometimes the market goes down,
26:38
Speaker 4: but look at your companies. Are they still profitable? Largely
26:42
Speaker 4: even in a market downturn. Most of the companies are
26:45
Speaker 4: still still profitable. It's just the market happens.
26:48
Speaker 3: To be down.
26:48
Speaker 4: Is that a reason to panic? Why does that matter
26:53
Speaker 4: to you? If your retirement's twenty years away, it's not
26:56
Speaker 4: something to fear. It's to be viewed as an opportunity
26:59
Speaker 4: at that.
27:01
Speaker 3: Yeah. I know some folks that have some investments and
27:05
Speaker 3: that's separate from a four to one K, so it's
27:07
Speaker 3: like directly into stock funds or whatever, and they observe
27:13
Speaker 3: that stock way too closely, like on a day to
27:16
Speaker 3: day basis, and their mood will reflect where that stock resides.
27:21
Speaker 3: And to me, that's just the most unhealthy thing that
27:23
Speaker 3: I could play. And it's a very relatively volatile stock
27:25
Speaker 3: as well, So it's like, what are you doing with this?
27:28
Speaker 3: And why why are you living in this manner? Because
27:30
Speaker 3: it's that just seems like I don't know, And I
27:34
Speaker 3: think that a lot of the time that that just
27:36
Speaker 3: plays into, I mean, frankly, ignorance. I mean, I think
27:38
Speaker 3: it plays into not really knowing options what it means,
27:41
Speaker 3: the detriments that you're setting up yourself, the opportunities that
27:43
Speaker 3: you're leaving at the table, different things along those lines,
27:46
Speaker 3: and probably a little bit of laziness because you think, oh,
27:47
Speaker 3: it's going to be so hard to move these funds
27:50
Speaker 3: from here and to do that, and none of those
27:51
Speaker 3: things are true. It's not hard to do. You don't
27:53
Speaker 3: have to do it. There's other opportunities. Just shake your
27:56
Speaker 3: cage a little bit and maybe step outside of what
27:58
Speaker 3: you're comfortable with, right And.
28:00
Speaker 4: Maybe sometimes there are particularly individual stocks. Sometimes you see
28:04
Speaker 4: folks attached to an individual stock and they own too
28:07
Speaker 4: much of it. And you know, as far as it's
28:09
Speaker 4: not a diversified portfolio, and now that can create anxiety
28:14
Speaker 4: because everything is now penned on the hopes of one company.
28:18
Speaker 4: You know, you see that in because one company can fail,
28:22
Speaker 4: but the whole process, the whole economy, you know, all
28:25
Speaker 4: going down. You know, that would require us to change
28:29
Speaker 4: our lifestyle in such a way that it's it's unfathomable.
28:34
Speaker 4: You know, when you look at the broad scope of
28:38
Speaker 4: companies on the market and the products and the goods
28:41
Speaker 4: and the services that they produce and deliver, you know,
28:45
Speaker 4: what are the odds that the whole thing just stops working?
28:49
Speaker 4: Doesn't make sense? Right, because we are the consumers, you know,
28:54
Speaker 4: we are the consumers. Are we going to change our lifestyle?
28:58
Speaker 4: Probably not? And if we will do it kicking and screaming.
29:01
Speaker 3: Probably yeah. And I think we've seen as oftentimes as
29:04
Speaker 3: sometimes consumers are sort of held as the example of well,
29:08
Speaker 3: there they made the choice that you know, we made
29:11
Speaker 3: our own bed. We need to allow on her or whatever.
29:13
Speaker 3: There are times, and of relatively recent note that we've
29:16
Speaker 3: seen where because of consumer activity, it has changed the
29:19
Speaker 3: way that companies pivot, that that handle things from different directions.
29:23
Speaker 3: And that's obvious, right. I mean we think that that
29:27
Speaker 3: that you have no say in these things. And I
29:29
Speaker 3: don't mean this from an activist standpoint. I just mean
29:31
Speaker 3: from the consumer dollars stamp. I keep on going back
29:33
Speaker 3: to the to the car thing yet again, another article.
29:36
Speaker 3: Now it's becoming mainstream, all these articles being written about
29:39
Speaker 3: how cars are going back to buttons and knobs and
29:40
Speaker 3: going away from the touch screens. That's consumers, man, those
29:43
Speaker 3: are consumers, man, like, we hate these touch screens. What
29:46
Speaker 3: are you guys doing? You're going to get us in
29:47
Speaker 3: accidents and everything else and complaining about it, and so
29:49
Speaker 3: they're changing their their actions, you know. I mean that
29:53
Speaker 3: that's the power of the of the dollar right there.
29:55
Speaker 3: From the consumer.
29:56
Speaker 4: Yeah, I mean they're there to serve the people, and
29:59
Speaker 4: largely the people get what they want.
30:01
Speaker 3: I mean broadly speaking.
30:02
Speaker 4: Sure, maybe not as the flip of the switch, but
30:05
Speaker 4: over time, if you think about it, you know, think
30:07
Speaker 4: about things that you thought of, Oh, it'd be easier
30:10
Speaker 4: to have this, well guess what. At some point, usually
30:14
Speaker 4: a company comes in and provides that. You know, if
30:17
Speaker 4: there's a problem you're having, there's a company out there
30:20
Speaker 4: trying to think of ways to solve that with innovation
30:24
Speaker 4: because they know if they do it will be profitable.
30:28
Speaker 4: That's how the process works, and to be successful long term,
30:32
Speaker 4: you have to believe in that process more so than
30:37
Speaker 4: the believing in the daily news cycle.
30:39
Speaker 3: I think I had a little bit of an epiphany.
30:42
Speaker 3: One of the things I've done over the holiday, my
30:44
Speaker 3: vacations and during this whole holiday is I've kind of
30:47
Speaker 3: bucked completely out of the news cycles. I haven't been
30:50
Speaker 3: following the news all that much. Not because I want
30:52
Speaker 3: to be ignorant, but it's the holidays, man, and just
30:54
Speaker 3: sometimes you want to take a step back. That also
30:56
Speaker 3: means sports. I mean, honestly, don't tell Dave weekly, but
30:59
Speaker 3: I haven't consider a ton of sports over the last
31:01
Speaker 3: few weeks. I just kind of took a step back
31:02
Speaker 3: from all of that. But one of the things that
31:05
Speaker 3: in spending time with my daughter over the holiday and
31:08
Speaker 3: what I really kind of miss her experiencing is her
31:12
Speaker 3: Christmases are great.
31:13
Speaker 4: You know.
31:17
Speaker 3: She I don't think she appreciates, like when she gets
31:21
Speaker 3: something of great impact on Christmas or whatever it might
31:23
Speaker 3: be the way that she and this is my fault,
31:26
Speaker 3: maybe the way she should. But I think that that's
31:27
Speaker 3: just like a societal thing now that we're so used
31:30
Speaker 3: to everything being right in front of us ready to go,
31:32
Speaker 3: that we really lose some of the appreciation. And I
31:35
Speaker 3: was thinking about this the other night, and I was
31:37
Speaker 3: thinking about two movies, Forrest Gump and The Jerk with
31:39
Speaker 3: Steve Martin, and two things that those movies have in
31:42
Speaker 3: common is is things that are that when they run
31:45
Speaker 3: into the everyday immensity of the country of the United States,
31:51
Speaker 3: and then much of the times it's in a in
31:54
Speaker 3: a grand statement, a great thing. They are impressed by it,
31:57
Speaker 3: like it's somethings like I mean, even with Steve Martin,
32:00
Speaker 3: something stupid like the phone book, I'm in the phone
32:02
Speaker 3: book now or whatever it might be, right, I mean,
32:04
Speaker 3: that's just all a mechanism of how society works. Right,
32:06
Speaker 3: And Forrest Gump was even more so, like he would
32:08
Speaker 3: just run into these situations that were these monumental moments
32:11
Speaker 3: and the way that he would take care of them.
32:12
Speaker 3: But I feel like we need more of that wonder
32:15
Speaker 3: still in our lives again, where we look back when
32:17
Speaker 3: this whole thing that we're doing, like wow, this really works,
32:20
Speaker 3: and that's actually pretty incredible when you think about it,
32:23
Speaker 3: I think we've lost all of that because there is
32:25
Speaker 3: no wonder left because we overanalyze and over internet everything
32:29
Speaker 3: to this point where suddenly everything seems like it's commonplace,
32:31
Speaker 3: when man, it's not really that common. It's pretty cool
32:34
Speaker 3: that some of this stuff works the way it does. Yeah.
32:36
Speaker 4: I saw a comedian and I'm not going to tell
32:39
Speaker 4: the jokes, but the whole set that he was doing
32:42
Speaker 4: was about how people get on an airplane and if
32:48
Speaker 4: the Wi Fi isn't working, they're complain and it's like,
32:52
Speaker 4: you're thirty thousand feet in the air going six hundred
32:55
Speaker 4: miles an hour, and you know, if you can't get
32:59
Speaker 4: you know, your your Wi Fi for a few minutes
33:02
Speaker 4: on the flight. Have you have you forgot about what
33:07
Speaker 4: you're actually doing and how incredible that is.
33:11
Speaker 3: It really is something else to think about that that
33:14
Speaker 3: some of the wonder and the spectacle of those things
33:16
Speaker 3: we just and I guess it's kind of normal. But man,
33:19
Speaker 3: it's like nobody's impressed with anything anymore. You know, It's
33:22
Speaker 3: like there's nothing. It's like, I guess it's uh, it's
33:24
Speaker 3: not cool to be impressed by something or to think
33:26
Speaker 3: that something's neat or or has use or whatever. It's
33:30
Speaker 3: just like everything that that that somebody likes, a ton
33:34
Speaker 3: of other people will find reasons not to like. And
33:36
Speaker 3: usually it's for stupid reasons. It's like you're not allowed
33:38
Speaker 3: to be impressed and to have wonder anymore.
33:40
Speaker 4: Yeah, And to be honest with you, I think that
33:43
Speaker 4: is a really nice ingredient to have in the journey
33:48
Speaker 4: to financial success. And that's staying curious. Oh yeah, right, yeah,
33:52
Speaker 4: stay curious. And because when you when you read about things,
33:56
Speaker 4: when you hear about these innovations, it helps tie you
33:59
Speaker 4: into that process that is going on behind the scenes
34:02
Speaker 4: every day and all those companies that you own, you know,
34:07
Speaker 4: the the If you're curious, you're also probably somewhat optimistic,
34:13
Speaker 4: right yeah, because you you know, you you see all
34:16
Speaker 4: of the challenges and and then you also see the
34:20
Speaker 4: creativity and the innovation that that humans have and and
34:27
Speaker 4: and can bring that to bear to solve problems, to
34:29
Speaker 4: create a better life for everyone.
34:32
Speaker 3: It's a little unfortunate. I guess it depends on your perspective.
34:35
Speaker 3: But over a year ago, I was I was reading
34:38
Speaker 3: and it was sort of talking about it was an
34:40
Speaker 3: interview with a gentleman. I can't even remember what his
34:42
Speaker 3: name was, but he was an investor. He was like
34:43
Speaker 3: kind of aspective investor and in different things. And he
34:45
Speaker 3: was one of these super optimistic. He wasn't one of
34:47
Speaker 3: these huge guys you talked about, but he was like
34:49
Speaker 3: just like an angel investor in a different a lot
34:51
Speaker 3: of different things. And that was exactly his thing is.
34:55
Speaker 3: He was super optimistic about everything. He loved the country,
34:58
Speaker 3: he loved technology, he loved the thing he loves the innovation.
35:01
Speaker 3: And the one thing that he was really into and
35:03
Speaker 3: we've probably seen some pullback from this, unfortunately, but he
35:06
Speaker 3: was really into the the the crisper and the in
35:10
Speaker 3: the m r n A space. He's like, where for
35:13
Speaker 3: the first time and in our known existence, when the
35:15
Speaker 3: cusp of curing many forms of cancer through these m
35:19
Speaker 3: r n R Now, unfortunately those have been defunded in
35:21
Speaker 3: things by the government, but that still could be and
35:24
Speaker 3: an opportunities if if the first person that comes or
35:27
Speaker 3: the first company that comes out with a treatment at
35:30
Speaker 3: the cellular level that that cures cancer or many cancers.
35:34
Speaker 3: I mean, I mean, yes, that's a great thing for society,
35:37
Speaker 3: but also print the paper, right you know, print the
35:39
Speaker 3: money because that that's a that's a money making expedition, right.
35:43
Speaker 4: And I and I can tell you that, you know,
35:44
Speaker 4: those things are still going on. It's just our attention
35:48
Speaker 4: now has moved on to other things like AI. I mean,
35:51
Speaker 4: the the breath of the creativity and innovation out there
35:56
Speaker 4: is is just unprecedented, and it's and there's more of
36:00
Speaker 4: it every single day.
36:02
Speaker 3: I prefer to be excited about it, you know, instead
36:04
Speaker 3: of being the constant mopic, you know, skeptic over absolutely everything.
36:09
Speaker 3: I mean, I think there's a place for skeptic, especially
36:10
Speaker 3: when it comes to you know, the Internet of Things
36:13
Speaker 3: and stuff like that. You got to be careful. But
36:14
Speaker 3: also there's so many people doing innovations out there, Yeah,
36:18
Speaker 3: no doubt.
36:18
Speaker 4: I mean, you know, the idea of the kid with
36:21
Speaker 4: a bright idea and a garage, I mean that still
36:23
Speaker 4: goes on. I mean you think about it. The computers
36:26
Speaker 4: on everybody's desk started in somebody's garage, the idea.
36:31
Speaker 3: That's amazing, crazy to think about it, right.
36:32
Speaker 4: Really amazing, And and that process is not broken. If anything,
36:37
Speaker 4: it's becoming more efficient and more able to deliver the
36:42
Speaker 4: end product to the user than ever before.
36:44
Speaker 3: And I think that it also goes to show and
36:47
Speaker 3: if we wanted to do a show on examples, I'm
36:49
Speaker 3: sure that we could. But all of these people that
36:52
Speaker 3: have gotten momentary notoriety with their get rich quick ideas,
36:57
Speaker 3: these influencers online. I mean, there's so many of these
36:59
Speaker 3: people that a couple of years ago that were supposedly
37:02
Speaker 3: the Southsayers. When it comes to this is how you
37:05
Speaker 3: get ahead in this industry, this is how you make it.
37:06
Speaker 3: These people were gone now, they just disappeared. You know,
37:09
Speaker 3: their stuff didn't work, they cashed out. They're living, you know,
37:11
Speaker 3: somewhere well probably now because they fleeced a bunch of
37:14
Speaker 3: people into believe in what they said. But these people,
37:17
Speaker 3: you don't see anybody around, Like we talked about Warren
37:19
Speaker 3: Buffet kind of taking a step back a couple a
37:21
Speaker 3: couple shows ago. You don't see any of these influencers
37:24
Speaker 3: that started five years ago that are still around now
37:25
Speaker 3: talking about how much money they made because of their
37:27
Speaker 3: because of their investments. You know, they cashed out at
37:30
Speaker 3: some point because of all the people they fleeced, and
37:32
Speaker 3: that was you were the product. You know, when you
37:34
Speaker 3: go to these seminars, a lot of times you're the
37:36
Speaker 3: product well.
37:37
Speaker 4: And the Internet of course has made that worse. But
37:39
Speaker 4: I have a book in my office that I keep,
37:41
Speaker 4: but it's on a bookshelf. It's a bankruptcy nineteen ninety nine.
37:46
Speaker 4: How America was going to collapse by nineteen ninety nine, basically.
37:50
Speaker 3: And it's funny the way we do that.
37:51
Speaker 4: Right, that didn't that didn't turn out?
37:53
Speaker 3: There was so when I owned the bookstore, there were
37:55
Speaker 3: so many of those books, and you got to see
37:57
Speaker 3: him cataloged over the years, like the end of everything,
38:00
Speaker 3: like nineteen ninety nine, nineteen seventy nine, the year the
38:03
Speaker 3: America started to disintegrate.
38:05
Speaker 4: Right, or oil will be out by you know, nineteen
38:08
Speaker 4: ninety I mean, all this stuff. There's always fear, but
38:12
Speaker 4: that fear is what creates the opportunities for the innovators.
38:16
Speaker 3: And innovation is king. Now that's John Bredad. John Bredad
38:19
Speaker 3: is king. He's the king of managing your finances. If
38:21
Speaker 3: you need