Latest / WCHS Network Podcasts / 07/14/2025 Retire Right Radio with John Burdette

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07/14/2025 Retire Right Radio with John Burdette · WCHS Network Podcasts

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Speaker 2: The views and opinions expressed on this program do not
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Speaker 2: necessarily reflect the views and opinions of five ADWCCHS its employees,
0:23
Speaker 2: or WVRC Media. This is retire Riight Radio, a weekly
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Speaker 2: show from John Verdet at Fourth Avenue Financial that aims
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Speaker 2: to answer your questions about financial planning, investing, and how
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Speaker 2: to retire right. Fourth Avenue Financial is located in downtown
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Speaker 2: Charleston at one seventy Court Street. More information online at
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Speaker 2: Fourth Avenue Financial dot com. Join the conversation by calling
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Speaker 2: three oh four three four five fifty eight fifty eight
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Speaker 2: or text three oh four nine three five fifty oh eight.
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Speaker 2: On Retire Right Radio, let's go live to the studio
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Speaker 2: with host Dale Cooper and John Verdet from to have
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Speaker 2: any financial fatures.
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Speaker 3: And a very pleasure. Good morning to you.
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Speaker 4: You're listening to retire Right Radio one WHS the Voice
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Speaker 4: of Charleston. I'm Del Cooper. Thanks for tuning in and
1:10
Speaker 4: congratulations you made it through the weekend. It is Monday
1:13
Speaker 4: morning in the month of July, the year of twenty
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Speaker 4: twenty five, the fourteenth day of July, as a matter
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Speaker 4: of fact, and we are in the city of Charleston,
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Speaker 4: in the country or the United States, and John Bredad
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Speaker 4: is with us this morning. Hey John, how are you
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Speaker 4: doing this morning? Let me turn on your right now.
1:27
Speaker 4: How you doing this morning?
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Speaker 3: I'm doing great.
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Speaker 5: Thanks for reminding me where I am.
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Speaker 4: Yeah, I thought maybe geolocatus for everybody, just in case
1:34
Speaker 4: they were one. As a it's a worldwide audience anymore,
1:37
Speaker 4: you never know, so you know, it doesn't hurt to
1:39
Speaker 4: let folks know where you're broadcasting from. John Bredada is
1:42
Speaker 4: here this morning helping you retire right you can. You
1:45
Speaker 4: can stick that in your feathering your cap and give
1:48
Speaker 4: us a call this morning if you like. Two three
1:49
Speaker 4: zero four three four five fifty fifty eight. Three zero four,
1:51
Speaker 4: three four five fifty eight fifty eight. John can help
1:53
Speaker 4: you out with how you can retire right with any
1:56
Speaker 4: questions you might have in your future. Financial soligncy can
2:00
Speaker 4: help you out in those regards or shooting in the
2:03
Speaker 4: right direction, or at least answer some questions hopefully for
2:05
Speaker 4: you if you have any, so you can give us
2:06
Speaker 4: a call three zero four three four five fifteen to fifty.
2:08
Speaker 4: You can also text three zero four non three five
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Speaker 4: five zeros or eight three zero four non three five
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Speaker 4: five zeros. You eight because of several configurations of vacations
2:16
Speaker 4: and times that you were traveling and different things going on.
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Speaker 4: I think this is our first show and maybe a
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Speaker 4: month or three weeks at least, maybe a month four weeks.
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Speaker 3: Yeah, I think that's right. I think I missed.
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Speaker 5: I missed two shows for vacation, and I think you missed.
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Speaker 4: I missed two shows. Yeah, I had either side. I
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Speaker 4: had two sides of a Monday off. So yeah, that
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Speaker 4: was I think it's the first time we've gone so long.
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Speaker 3: But things are.
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Speaker 4: I think that we call it sometimes in the afternoon
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Speaker 4: when we're doing the stock market report, just kind of churning.
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Speaker 4: Things are kind of turning returning for I mean, we're
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Speaker 4: still hovering near record haze. You know, while while we
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Speaker 4: were on vacation, the market was going up nicely, and
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Speaker 4: last week it took a little breath. I mean, it
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Speaker 4: wasn't down much, but we didn't We didn't break any
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Speaker 4: hies last week. So you know, I think we're getting
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Speaker 4: to that point where a lot of the unknowns are
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Speaker 4: coming off the table. We had the big, beautiful bill
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Speaker 4: that passed and and that is out of the way now,
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Speaker 4: like it or not, you know, whatever side you fall on,
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Speaker 4: it's done.
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Speaker 5: So that provides some clarity.
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Speaker 4: Once it gets baked, it's bakeden. So whatever you think
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Speaker 4: about it, it's still that sets it and forgets it.
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Speaker 3: Basically they can put that together.
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Speaker 5: Yeah, and the and the tariff thing is still going on,
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Speaker 5: but if you really look, you know, below the headlines
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Speaker 5: that explode every now and then, the trend towards the
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Speaker 5: tariffs are lower than the initial you know, discussion about
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Speaker 5: the tariffs. So those things are coming in and it
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Speaker 5: seems like they're honing in on numbers that like Bill
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Speaker 5: two of ninety like that. I don't know, but but
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Speaker 5: you know, they get extended and and they become more
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Speaker 5: reasonable the farther we go. So I think the market,
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Speaker 5: while it's still concerned about that, and there's some headlines
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Speaker 5: that pop up every now and then that spooks the market.
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Speaker 5: It doesn't seem to be scaring the market as much
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Speaker 5: as it used to, because it's becoming more clear what
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Speaker 5: what the trajectory is on.
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Speaker 3: That, however you want to look at it.
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Speaker 4: I was reading a little bit of a commentary about
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Speaker 4: this exact same thing before the show, and and for
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Speaker 4: whatever kind of whatever it means to say this, it's
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Speaker 4: sort of like the market in general has kind of
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Speaker 4: figured out the whole tariff they like, not that they
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Speaker 4: know exactly what anything's want to be, but that a
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Speaker 4: lot of it was headline noise and not much else.
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Speaker 4: And so suddenly we stopped reacting so much to every
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Speaker 4: little headline and stuff. Things are staying pretty much part
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Speaker 4: of course, certainly.
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Speaker 5: The overall tariff rate will be much higher than it
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Speaker 5: has been, but but much less than the initial fear
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Speaker 5: and the initial talk, even things like like Canada. You know,
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Speaker 5: it's like, why are we, you know, battling Canada that
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Speaker 5: sort of thing. Well, most of the things, you know,
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Speaker 5: you hear these numbers thrown out, these big tariffs, but
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Speaker 5: most of the things are exempt, So the impact is
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Speaker 5: much smaller and much more focus than the headlines sometimes,
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Speaker 5: And I think that's what's the pattern seems to be.
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Speaker 5: You know, it's all these headlines that come out, but
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Speaker 5: really when it starts to fall into policy, it is
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Speaker 5: it is less than was fear.
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Speaker 4: Maybe it's just politics, maybe it's smart politics, maybe it's
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Speaker 4: I don't know exactly how you would label it, but
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Speaker 4: it is very interesting that that it seems like that
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Speaker 4: with all the ruckus about tariffs and what we're going
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Speaker 4: to do and almost the punitive nature of it and
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Speaker 4: things along those lines, that the reality of it is
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Speaker 4: much much, much, much much less than what than what
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Speaker 4: was being kind of talked about. And maybe we're arriving
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Speaker 4: to the point where the administration always thought we would be,
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Speaker 4: and all the chatter talk was just was just that
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Speaker 4: just to get people rout up or whatever it might be.
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Speaker 4: Or maybe this is the reality and we were over
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Speaker 4: the skis a little bit on it. But whatever it is,
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Speaker 4: it has kind of settled in. The market's turning and
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Speaker 4: things are not doesn't seem quite as unknown anymore, and.
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Speaker 3: There's stuff out there.
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Speaker 4: You still get these weird inflation indicators, you know that
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Speaker 4: that are sticky as heck man.
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Speaker 3: You just can't get rid of these things.
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Speaker 5: Yeah, And and there I think is a little bit
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Speaker 5: of risk. We'll see that inflation rate maybe increase for
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Speaker 5: a period of time as as the tariffs do come
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Speaker 5: to policy and come to pass. However, usually when these things,
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Speaker 5: those type of things happen, tariffs or trade barriers of
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Speaker 5: some kind, there is an initial increase potentially, but it's
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Speaker 5: not like an inflation that is continuing. It's almost like
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Speaker 5: a one time reset, and so we may experience that.
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Speaker 5: And you know, the Fed was slated to cut rates
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Speaker 5: all this year at least that that's what the thought was,
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Speaker 5: and that hasn't really happened. You know, it maybe now
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Speaker 5: fall or beyond before we start seeing rate cuts again.
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Speaker 5: You know, that being said that, we're still expecting rate
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Speaker 5: cuts to be the next move, not increases. It's just
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Speaker 5: it's been longer than people expected originally. And that was
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Speaker 5: an adjustment too that the market had to had to make,
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Speaker 5: but I think has finally finally made that. So you know,
7:29
Speaker 5: for the market to we're we're hovering around all tom has.
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Speaker 5: I mean, we really just need to see a reacceleration
7:36
Speaker 5: of growth and h and there are some things that
7:40
Speaker 5: may help with that in in the the big budget
7:44
Speaker 5: bill that was just passed. You know, companies are now
7:49
Speaker 5: allowed to depreciate purchases fast and that could spur some
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Speaker 5: economic activity as companies by equipment and and things of
8:00
Speaker 5: that nature and able to write it off in year
8:02
Speaker 5: one rather than appreciating it over years. You know that
8:07
Speaker 5: the tax rate there again being known. The vast majority
8:12
Speaker 5: of the numbers you've been hearing about all this bill
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Speaker 5: cost x amount of dollars, The vast majority of it
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Speaker 5: is just making the tax cuts permanent that we're temporary.
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Speaker 5: So so it didn't even change the rate that you know,
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Speaker 5: we've been paying or experience. It's just basically said, hey,
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Speaker 5: we're not gonna this is a permanent rate cut or
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Speaker 5: tax cut now, it's not a you know, for a
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Speaker 5: certain number of years. So that doesn't even change things
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Speaker 5: very much because we've already been living under that that environment.
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Speaker 4: Yeah, it's it's interesting how the war of the war
8:48
Speaker 4: of the words that comes out with with anything that
8:51
Speaker 4: it comes along these lines. But as far as what
8:53
Speaker 4: we do, as far as the business of what you
8:55
Speaker 4: take care of, once again, listen to John Burdead. I mean,
8:58
Speaker 4: any any of the any of the things that we
9:00
Speaker 4: taught and the basic, the basic the truth of The
9:05
Speaker 4: matter is is that these people companies figure it out
9:08
Speaker 4: that whatever the rough patch might be, on the other
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Speaker 4: side of it, we see generally stability and we see profit.
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Speaker 4: We see the companies with earnings that are doing well.
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Speaker 4: And again that's what we've seen. I mean, we've seen
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Speaker 4: the long arc of this thing through COVID and everything else,
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Speaker 4: through inflation, through administration changes and everything else.
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Speaker 3: Mark, it's just up man.
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Speaker 4: I mean, I mean you say, if you continued with
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Speaker 4: the strategies that you put into place, and people follow
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Speaker 4: along and they do the things that they're supposed to be,
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Speaker 4: they're not in a worse situation now than when they started,
9:38
Speaker 4: Say if they started listening to this show five years ago,
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Speaker 4: they're in better shape.
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Speaker 5: No, And even if the market had continued down for
9:45
Speaker 5: a period, it's still all about Tom Rods. And I
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Speaker 5: mean we don't have to go back very far, go
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Speaker 5: back to two thousand and eight, right. You know, if
9:51
Speaker 5: you had money to invest and invested exactly the worst
9:55
Speaker 5: time in two thousand and eight, before the market really
9:57
Speaker 5: fell about forty percent, yeah, you would have been unhappy.
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Speaker 5: But if you stayed the course, I mean, look at
10:05
Speaker 5: where we are now compared to them.
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Speaker 4: Yeah, So if you were retiring in two thousand and eight,
10:08
Speaker 4: you probably would have been in trouble. If you were
10:10
Speaker 4: twenty five, you're probably.
10:12
Speaker 5: With dividends and things like that. Compounded in, you're probably
10:17
Speaker 5: close to ten times in your money since the bottom
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Speaker 5: of two thousand and eight. So even if you bought
10:21
Speaker 5: it the exact wrong time for that short term period,
10:26
Speaker 5: you would still be way better off than you would
10:28
Speaker 5: have been anywhere else. And so that's why time horizon
10:33
Speaker 5: is so important in a financial plan. You know what
10:36
Speaker 5: type of volatility can you take with your personal time
10:39
Speaker 5: horizon because we know what's going to happen to the
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Speaker 5: market over time. I mean history has proved that out
10:44
Speaker 5: again and again. When's the right time to invest? Well,
10:48
Speaker 5: when you have money? Yeah, right, you have money and
10:51
Speaker 5: just let the market do it. Say, you do your
10:53
Speaker 5: job by putting it in, and the market will do
10:55
Speaker 5: its job over time, growing and expanding.
10:58
Speaker 4: The pie threes are four, three, four, five, fifty fifty.
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Speaker 4: If you want to give John a call this morning
11:03
Speaker 4: addressing any questions about your retirement, if you want to
11:05
Speaker 4: know how you can retire right, maybe some light market
11:08
Speaker 4: questions or something like that John doesn't pick winners or losers,
11:11
Speaker 4: but he can help you steer your portfolio into a
11:14
Speaker 4: smart direction. If you're looking for some advice, give us
11:16
Speaker 4: a call this morning three zerre four three four five
11:18
Speaker 4: fifty eight fifty eight. You can text three zerre A
11:19
Speaker 4: four non three five five zeros er eight three zero
11:22
Speaker 4: four non three five five zero zero eight. Plenty of
11:24
Speaker 4: stuff that we're going to talk about this morning, and
11:26
Speaker 4: you can help steer the conversation as well. I just
11:28
Speaker 4: think it's fascinating that no matter what we've gone through,
11:32
Speaker 4: and we've been doing this show for a while now,
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Speaker 4: we've seen wars, we've seen pandemics, we've seen we've seen
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Speaker 4: administration changes, it's incredible because the strategy works in the
11:43
Speaker 4: market continues to jurn on. I mean, we've we've heard
11:45
Speaker 4: the doom and gloom from all kinds of different quarters
11:47
Speaker 4: and stuff like that, regardless of which administration or anything
11:50
Speaker 4: else that was in there, and things have been generally
11:53
Speaker 4: speaking fine. If you if you stick to the formula
11:55
Speaker 4: and keep on turning, it's going to happen.
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Speaker 6: Well.
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Speaker 5: I think the biggest thing to remember when the market
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Speaker 5: is follow a tooling it and you have the inclination
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Speaker 5: to panic and sell. You have to remember somebody on
12:06
Speaker 5: the other side of that trade is buying that from you.
12:09
Speaker 5: Great point, somebody, somebody is making the wrong decision there
12:15
Speaker 5: and one of the two right. And over time it's
12:19
Speaker 5: it's pretty clear which one that is.
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Speaker 3: That's a great point. That is a great point. Uh
12:24
Speaker 3: that if.
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Speaker 4: You're looking to uh and and and what I said
12:28
Speaker 4: in an interdew is is is absolutely true. We have
12:31
Speaker 4: been here through I think portions of the first Trump administration,
12:36
Speaker 4: bid administration, second uh Trump administration. You know what, whatever
12:40
Speaker 4: you think politically, the market went up a lot during
12:42
Speaker 4: the Biden administration, one of a whole lot, you know.
12:45
Speaker 4: And that is the you know, the history. If you
12:49
Speaker 4: look at you say, well, Democrats are better for the market,
12:52
Speaker 4: Republicans are better for the market. Look almost over any
12:56
Speaker 4: time period, the market is up almost over any administration.
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Speaker 3: So yes, you're right, but that's just that's yes for everybody.
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Speaker 5: You know and nobody you know, certain things fall and
13:07
Speaker 5: maybe different administrations that you know, but still the market
13:12
Speaker 5: finds a way to grow and be higher. I mean,
13:15
Speaker 5: all of these people wake up every day and try
13:18
Speaker 5: to better themselves and better their companies and better the
13:20
Speaker 5: lives of their families. And over time they do a
13:23
Speaker 5: good job of that. You know, if you go to work,
13:25
Speaker 5: you generally are going to get a good result.
13:29
Speaker 3: That's absolutely true.
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Speaker 4: And you just keep at it and give us call
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Speaker 4: this morning three zero four three four five fifty fifty
13:34
Speaker 4: eight three zer were four three four five fifteen fifteen. Now,
13:36
Speaker 4: I'm not sure if I should ask. You brought in
13:37
Speaker 4: a stock of a vinyl here this morning, and I
13:41
Speaker 4: wasn't sure if that had something to do with the
13:42
Speaker 4: show or you.
13:42
Speaker 5: Just not really not really with the show. But we
13:46
Speaker 5: are going to run a promotion for my department of records,
13:50
Speaker 5: the record shop th Oven and Fonds over advantage. Okay, okay,
13:54
Speaker 5: thanks at Charleston. So we're going to do some record giveaways.
13:58
Speaker 5: Maybe what is at the Mountain and uh and V
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Speaker 5: one hundred. We may give some I'm not sure what
14:04
Speaker 5: the plans are exactly, but we're giving away some some
14:08
Speaker 5: legit vinyl.
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Speaker 4: This is this is just a teaser. You can keep
14:11
Speaker 4: a gear out for whatever is going on here, but
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Speaker 4: d this is some nice looking stuff. You're gonna have
14:14
Speaker 4: to see the talking heads right on top there.
14:16
Speaker 5: Yes, we got Creten's clear Water. We've got her local
14:19
Speaker 5: local fellow Philip bow Oh yeah, look at that. Yeah,
14:22
Speaker 5: great of some of his Rush monthly crew. We've got
14:27
Speaker 5: a We've got a good selection of h of you'll
14:30
Speaker 5: surely you'll like some of them.
14:32
Speaker 4: I'm not real sure what to think about this. I was,
14:34
Speaker 4: I was listening to a mix of music this weekend,
14:37
Speaker 4: and while I was, I was puddling around the house, uh,
14:39
Speaker 4: cooking some stuff, fixing some things and stuff like, I
14:41
Speaker 4: had some music playing, and my kid, who was had
14:44
Speaker 4: spend almost all weekend in her in her bedroom doing stuff,
14:47
Speaker 4: working on things. She comes running out to the kitchen
14:50
Speaker 4: when uh uh Motley Cruz Doctor Feel Good came on,
14:54
Speaker 4: and for whatever reason, man, she was into that song
14:57
Speaker 4: and she like did a whole performance in the middle
14:58
Speaker 4: of my kitchen, and she never heard it before, but
15:00
Speaker 4: she did it like a whole thing in the middle
15:01
Speaker 4: of the kitchen, and like, did this whole performance one
15:03
Speaker 4: and stuff like that.
15:04
Speaker 5: I'm like, oh, you better get in, oh many, you
15:06
Speaker 5: can get in on the contest.
15:07
Speaker 3: She's a crew girl. I guess I'm not sure.
15:09
Speaker 4: Hey, let's do this. Let's ahead and take our break.
15:10
Speaker 4: We still have plenty of time to talk when we
15:12
Speaker 4: come back. I'd like to get you involved in the
15:14
Speaker 4: conversation if you have any question about how you can
15:16
Speaker 4: retire right, about your portfolio, how you can mix market investments,
15:20
Speaker 4: or maybe you're just getting started, or you've had a
15:22
Speaker 4: career change and you're looking to make sure that you're
15:24
Speaker 4: on the right path. You're looking to get kids started out,
15:27
Speaker 4: maybe you're late starting. Whatever question you might have this morning,
15:30
Speaker 4: John can help point you in the right direction answer
15:32
Speaker 4: some questions for you. You can give us a call
15:33
Speaker 4: our number three zero four three four five fifty eight
15:35
Speaker 4: fifty eight. Three zero four three four five fifty eight
15:37
Speaker 4: fifty eight. You can also text three zero four non
15:39
Speaker 4: through five five zero zero eight. We'll take a break
15:42
Speaker 4: and be backward after this. You're listening to Retire Right
15:44
Speaker 4: Radio on five AWHS, the voice of Charleston.
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Speaker 10: I'm John Carruthers, the owner of Best Virginia Heating and Cooling.
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Speaker 10: I'm born and raised right here in West Virginia. I've
17:46
Speaker 10: got three daughters, so I absolutely care who comes into
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Speaker 10: my home. Every technician we send to your home, has
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Speaker 10: been drug tested and background check. I guarantee the best
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Speaker 10: client experience or your money back. We have the best
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Speaker 10: team and the best processes built around a five star experience.
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Speaker 10: Call Best Virginia Today at six eight one six five
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18:09
Speaker 11: This is retire Right Radio with John Burdett from Fourth
18:13
Speaker 11: Avenue Financial, taking your calls at three oh four three
18:17
Speaker 11: four five fifty eight fifty eight or texts on three
18:20
Speaker 11: oh four nine three five fifty oh eight.
18:31
Speaker 6: Reason running along on the State of the Dagon.
18:44
Speaker 4: You're listening to WHOA That end didn't rad You're listening
18:47
Speaker 4: to Sorry I Write Radio on w c HS, the
18:50
Speaker 4: Voice of Charles.
18:50
Speaker 3: I think we need a fade on that.
18:52
Speaker 5: Yeah, we let the uh, we let that play a
18:54
Speaker 5: little bit because that was a good song.
18:56
Speaker 3: Yeah, that is true.
18:57
Speaker 4: And what I've come to find out over over tom where,
19:00
Speaker 4: for so long we were in a studio where we
19:02
Speaker 4: didn't have a real time monitor. Now that we have
19:04
Speaker 4: a real time monitor, I'm catching a couple of little
19:06
Speaker 4: things that I didn't catch before that folks probably should
19:08
Speaker 4: have told me about. So anyway, you can give us
19:10
Speaker 4: a call this morning if you want to direct the conversation.
19:12
Speaker 4: John Burdett is here for you if you want to
19:14
Speaker 4: talk about how you can manage your portfolio into retirement,
19:17
Speaker 4: how you can retire right. You have some questions, some concerns,
19:20
Speaker 4: maybe a little bit something a little bit unique that
19:22
Speaker 4: you're not sure how to get around. Give us a
19:23
Speaker 4: call this morning. John can help point you in the
19:25
Speaker 4: right direction. Three zero four three four five fifty eight
19:27
Speaker 4: fifty eight. You can text three zerre a four non
19:29
Speaker 4: three five five zeros R eight three zero four non
19:31
Speaker 4: three five five zeros R eight And there's all types
19:33
Speaker 4: of different things that you know, we've kind of come
19:36
Speaker 4: through the era where everybody was reshuffling in their jobs
19:40
Speaker 4: and stuff like that. You know, that was a huge
19:42
Speaker 4: thing like during COVID and right after where people were
19:45
Speaker 4: getting into these things. But that's not to say that
19:47
Speaker 4: it's still not a good idea that if you came
19:50
Speaker 4: through a job hunt, did some different things, had some
19:53
Speaker 4: life changes, or something like that, if you haven't taken
19:55
Speaker 4: a look into what your investment portfolio and your retirement
19:59
Speaker 4: plan is for a while, it might not be a
20:00
Speaker 4: bad idea because you you recommend is it a yearly
20:03
Speaker 4: look look in to Kerally look in, make.
20:06
Speaker 5: Sure your life hasn't changed, jobs haven't changed. Make sure
20:09
Speaker 5: that you you know, are having a disciplined approach to
20:13
Speaker 5: your your financial planning. You know, I don't recommend looking
20:16
Speaker 5: at the market daily or anything like that, but you know,
20:20
Speaker 5: over time, what happens frequently if you're not working with
20:24
Speaker 5: an advisor or don't have a disciplined approach to checking
20:28
Speaker 5: in every so often is you don't end up with
20:30
Speaker 5: a financial plan. You end up with a collection of
20:33
Speaker 5: investments and you know, oh, I've got that, you know,
20:37
Speaker 5: five thousand dollars and that old four oh n K
20:41
Speaker 5: over there, and I've got ten thousand dollars CD over
20:44
Speaker 5: here at this bank, and I've got a checking account
20:47
Speaker 5: over there, and before you know it, you're spread out
20:49
Speaker 5: and and it's not working together. And so making sure
20:53
Speaker 5: that you periodically are checking in and telling your money
20:59
Speaker 5: what to do, give your money purpose, so it's working
21:01
Speaker 5: towards the goal that you've set for yourself very important
21:05
Speaker 5: to do that. And like I say, you know, particularly
21:10
Speaker 5: as you get closer to retirement, you know, it might
21:13
Speaker 5: be one thing if you've if you've left a fifteen
21:15
Speaker 5: hundred dollars IRA or four on one k hanging out
21:18
Speaker 5: there when you're twenty five years old, but as you
21:21
Speaker 5: get towards retirement, you know, definitely having a plan for
21:25
Speaker 5: that money and how you're going to use it, because
21:28
Speaker 5: now the game is really on. When you start drawing
21:31
Speaker 5: the money off of the off of the funds that
21:33
Speaker 5: you've saved, you have to be much more disciplined with
21:37
Speaker 5: that because because swings in the market more directly affect
21:42
Speaker 5: you because you're drawing it out, and you have to
21:44
Speaker 5: have provisions for that.
21:45
Speaker 3: Are we sure yet?
21:46
Speaker 6: What?
21:48
Speaker 4: And there's so many different numbers that are out there,
21:50
Speaker 4: and we're years in the future at this point. We
21:52
Speaker 4: have all of these through the big beautiful Bill and
21:55
Speaker 4: everything else that's taken place. A lot of this stuff
21:57
Speaker 4: doesn't even kick in or start into effect after the
22:00
Speaker 4: next midterms. I wonder why that is. That makes you
22:04
Speaker 4: wonder a little bit. But that being said, there is
22:07
Speaker 4: the potential that there's a lot of little areas of
22:11
Speaker 4: people that could be for example, losing insurance and things
22:17
Speaker 4: along those lines, things that maybe they didn't have to
22:19
Speaker 4: budget out for quite as much or quite the same
22:21
Speaker 4: or something like that, and that could fundamentally change how
22:24
Speaker 4: you're saving for retirement. If suddenly you had access to
22:27
Speaker 4: the to the ACA to help out on insurance and
22:29
Speaker 4: for whatever reason, you're in one of these areas where
22:31
Speaker 4: maybe you will no longer be accepted in that area
22:35
Speaker 4: for health insurance. I'm not sure what the answer on
22:37
Speaker 4: the other side of that is. I haven't really heard,
22:39
Speaker 4: like for the people that don't have I.
22:41
Speaker 5: Mean, we're just now everyone's kind of digging in trying
22:43
Speaker 5: to figure out what what all of this means. I mean, certainly,
22:46
Speaker 5: anytime there's legislation, there's going to be some people that
22:51
Speaker 5: fall on the wrong side of the bill, right, And
22:53
Speaker 5: there's always a line. Yeah, I mean there's there's no
22:56
Speaker 5: doubt about it. And we'll see where that where that
22:59
Speaker 5: line at actually falls. I Mean, there are some some
23:02
Speaker 5: things in there, you know, tips and things like that
23:06
Speaker 5: are are are going to be tax example. Well, if
23:08
Speaker 5: you're in that position, you might be a winner in
23:11
Speaker 5: the bill, so that gives you the ability to uh
23:14
Speaker 5: take advantage of that and do the right thing with
23:16
Speaker 5: those funds. If you're on on the other side of
23:19
Speaker 5: the bill, you're going to have to take the pencil
23:21
Speaker 5: out and figure out how to fill those fill those gaps.
23:24
Speaker 5: And you know, that's why the uncertainty of of of
23:30
Speaker 5: legislation or the uncertainty of policy really affects the market
23:38
Speaker 5: more so than the actual finality of what happens, because
23:41
Speaker 5: after it happens, you can start planning and and and
23:46
Speaker 5: if you start planning and and you're diligent with that,
23:48
Speaker 5: you usually can figure out how to how to see
23:51
Speaker 5: through that. You know, that's what individual families do, that's
23:54
Speaker 5: what businesses do, and and just they're again going back
23:58
Speaker 5: to the your first segment. Having the known starts to
24:02
Speaker 5: allow you to formulate a strategy that works with the
24:06
Speaker 5: new with the new rules, and you know, it remains
24:12
Speaker 5: to be seen. I mean, you know, I don't you
24:14
Speaker 5: have one side thinking that the sky is falling and
24:18
Speaker 5: the other side thinks it's the best thing ever. And
24:21
Speaker 5: my guess is probably somewhere in between right right, and and.
24:24
Speaker 4: The thing regardless of where that ends up coming, there's
24:26
Speaker 4: going to be people. There's going to be a line.
24:27
Speaker 4: There's a line now. I attest for a lot of
24:30
Speaker 4: people that got really uncomfortable during COVID that one of
24:33
Speaker 4: the things that made a lot of people uncomfortable was
24:36
Speaker 4: that line that kind of borderline between not necessarily poverty,
24:39
Speaker 4: but ease of living and struggle with living. That that
24:43
Speaker 4: line got pushed forward into the people that didn't struggle previously,
24:46
Speaker 4: and so suddenly there was a lot of people in
24:48
Speaker 4: this country that was experiencing life like a lot of
24:51
Speaker 4: the less uh less able people as far as finances
24:56
Speaker 4: and stuff, have been struggling for forever, and so that
24:59
Speaker 4: caused a lot lot of disruption with peoples like, man,
25:01
Speaker 4: this is terrible, I don't like living like this. Well,
25:03
Speaker 4: there's been people living like that for a long time.
25:05
Speaker 4: We just moved the line now to another place. And
25:08
Speaker 4: that's what it's going to happen again. The line's going
25:10
Speaker 4: to move somewhere. We just don't know exactly where that's
25:11
Speaker 4: going to be. Yeah, but there are things once that's
25:14
Speaker 4: no longer unknown. There are things that you can do
25:17
Speaker 4: as far as you know, trying to put away more
25:19
Speaker 4: money or finding other alternatives, maybe getting an HSA if
25:23
Speaker 4: you didn't have one before. There should be other alternatives
25:25
Speaker 4: that you can look into to take care of your
25:26
Speaker 4: health care and still have as solvent finances for your retirement.
25:30
Speaker 5: Yeah, yeah, no doubt. I mean, like I say, when
25:33
Speaker 5: everything comes into play when when it's all sorted out,
25:37
Speaker 5: there will be a path that that you'll have to
25:41
Speaker 5: you know, formulate, and you know, we certainly can help
25:44
Speaker 5: folks formulate that path to deal with those changes. But
25:49
Speaker 5: you know, anytime there's major legislation, like you say, it's
25:52
Speaker 5: going to happen this way, and to to make you
25:56
Speaker 5: maybe feel a little better, potentially, I did see an article.
26:01
Speaker 5: Do you have any idea what the fifty percent mark
26:05
Speaker 5: the the to be in the top fifty percent of
26:09
Speaker 5: global wealth, how much networth you.
26:10
Speaker 11: Have to have?
26:12
Speaker 4: No, I don't, Oh, fifty of global wealth global Yeah,
26:17
Speaker 4: probably not much because there's a lot of poor people
26:19
Speaker 4: in this globe.
26:20
Speaker 3: So my guess it's probably not very much.
26:22
Speaker 5: It's it's less than five thousand dollars, Is that right?
26:25
Speaker 3: Yeah? Wow, that's something else.
26:26
Speaker 5: Yeah, it's it's uh. And to be in the top
26:30
Speaker 5: one percent, it's it's less than a hundred thousand. So
26:35
Speaker 5: you know, that might make the listeners feel better thinking
26:37
Speaker 5: that that you're not doing too well. You know, it's
26:42
Speaker 5: it's puts in a perspective of the condition we have
26:48
Speaker 5: here in the United States. No matter what the doom
26:51
Speaker 5: and gloom of the news is we're doing pretty well collectively.
26:54
Speaker 4: So and that is a good perspective to keep in mind,
26:58
Speaker 4: you know, because you don't want to think that, because
27:01
Speaker 4: there are people that always struggle somewhere, but broadly, the
27:04
Speaker 4: long arc of where humanity has come has been positive
27:07
Speaker 4: for the most part over the last fifteen hundred years.
27:10
Speaker 4: I mean, any any amount of time that you that
27:12
Speaker 4: you cut it up in there.
27:13
Speaker 5: Well, yesterday, yesterday was my dad's birthday, Happy birthday, Dad.
27:19
Speaker 5: But I was over there and you know, they were
27:22
Speaker 5: watching TV and it was a forty year anniversary of
27:25
Speaker 5: the Live Aid Concert, right, I know, And you know
27:29
Speaker 5: you look at some of those pictures and that type
27:33
Speaker 5: of poverty and famine, and you know that still exists
27:37
Speaker 5: to some degree, but not anywhere near like it was
27:42
Speaker 5: forty years ago. I mean, there has been a huge
27:45
Speaker 5: amount of progress globally, you know, tackling some of those
27:50
Speaker 5: things that you know, almost faster than you can imagine,
27:55
Speaker 5: almost faster you can imagine. And now, of course, you know,
27:58
Speaker 5: if you're if you're under that line, it's not fast enough.
28:00
Speaker 11: Right.
28:01
Speaker 5: But the economic engine and the economic miracle that we've
28:07
Speaker 5: experienced in the you know, the last fifty years is
28:09
Speaker 5: just phenomenal.
28:10
Speaker 4: Not to get to a galaxy brain with that whole thing.
28:13
Speaker 4: But it is really amazing the way that that sort
28:16
Speaker 4: of we talk about markets being kind of a living
28:19
Speaker 4: entity in some way, shape or form, and when you
28:21
Speaker 4: look at disadvantaged areas and disadvantaged people and stuff like that,
28:25
Speaker 4: the the the need to help those areas, and this
28:30
Speaker 4: kind of goes back to there is no real true
28:33
Speaker 4: altruistic motive, you know. I mean, even if you do
28:35
Speaker 4: something and ultimately you feel good about it, I mean,
28:39
Speaker 4: are you doing it because you truly are altruistic or
28:41
Speaker 4: it makes you feel a little good.
28:42
Speaker 3: There's nothing wrong with it.
28:43
Speaker 4: I'm just saying there that that altruism is really hard
28:45
Speaker 4: to dial down into an absolute, distilled idea. So when
28:49
Speaker 4: you look at something that like economies of third world
28:52
Speaker 4: countries or something along those those lines, really in bolstering
28:55
Speaker 4: those economies, you're not only helping the people there, which
28:58
Speaker 4: is a great, you know, a great thing, but also
29:00
Speaker 4: those people are going to buy things, and they're going
29:01
Speaker 4: to need things, and they're gonna participate. And we've seen
29:04
Speaker 4: that happen just in the last fifty years with some
29:07
Speaker 4: countries that have that have elevated themselves into a more
29:11
Speaker 4: uh into a more robust economy, and those people help
29:15
Speaker 4: the world economy. So, I mean, there is a there
29:17
Speaker 4: is a given take in there. There's a reason you
29:18
Speaker 4: don't just let people, you know, that they that was
29:21
Speaker 4: their fault, they were born there or whatever it might be.
29:22
Speaker 4: There's a reason for that because we want basically their money.
29:25
Speaker 4: I mean, if you want to look at it from
29:26
Speaker 4: a purely capitalistic standpoint, well, yeah.
29:28
Speaker 5: Well productivity and and so the more people that can
29:33
Speaker 5: participate at a higher level in our economy and production
29:37
Speaker 5: and serving others, the better and and and that's basically
29:42
Speaker 5: what's happened. You know, you look at countries like China
29:45
Speaker 5: and Vietnam and all these countries. People are more productive
29:49
Speaker 5: than they used to be. Obviously they produced more and
29:52
Speaker 5: and that makes everyone better off.
29:56
Speaker 4: It's interesting times too, and what we'll see with the
29:59
Speaker 4: sort of the some of the dis eruptions that's happened
30:00
Speaker 4: with the trade policies and trying to come up with
30:06
Speaker 4: a with a new tomorrow. Basically, as far as some
30:08
Speaker 4: of this stuff goes with tariffs, it is creating other partnerships,
30:11
Speaker 4: maybe working around the United states temporarily. And the kind
30:15
Speaker 4: of the odd thing about that is because we like
30:18
Speaker 4: to think, well that's bad or you know, what are
30:20
Speaker 4: they doing there? Thing is, in a global economy, working
30:24
Speaker 4: out other relationships may not be a bad thing, especially
30:27
Speaker 4: if you come back to the table when things start
30:28
Speaker 4: working again, like options and other relationships or something that
30:31
Speaker 4: you don't want to lose marketplace or something like that.
30:33
Speaker 4: But there are there are potentials that just because things
30:36
Speaker 4: aren't done exactly the way they've always been done, shaking
30:39
Speaker 4: things up a little bit might lead to greater efficiencies
30:42
Speaker 4: in the long run.
30:43
Speaker 5: Yeah, I mean anytime you you know, you shake it up,
30:48
Speaker 5: you don't know what's going to come out the other side.
30:50
Speaker 5: But yes, I mean people sometimes get complacent and sometimes
30:59
Speaker 5: looking for a new way can can make a lot
31:01
Speaker 5: of sense. So, uh, you know, we'll see how that
31:04
Speaker 5: how that all plays out. I think that it is
31:07
Speaker 5: and I think that really it's not so much the
31:09
Speaker 5: things that that Trump has said or done in this administration,
31:14
Speaker 5: but I think it goes all the way back to
31:15
Speaker 5: COVID and maybe even before that. But the idea that
31:20
Speaker 5: our supply chains are not diversified enough. You know, clearly
31:25
Speaker 5: COVID proved that the supply chains are too concentrated in
31:31
Speaker 5: certain areas, certain industries in in in just a couple
31:34
Speaker 5: of different areas. I mean, look at look at the
31:38
Speaker 5: chips and computer chips and Taiwan. I mean, that's kind
31:43
Speaker 5: of an absurd position we've allowed the world to get
31:47
Speaker 5: in in that the all the chips that we use
31:50
Speaker 5: to power our modern economy are on one little little
31:55
Speaker 5: rock in the middle of an ocean, in an earthquake zone. Right,
32:00
Speaker 5: you know, you don't even have to talk about China
32:01
Speaker 5: just on earthquakes. You know you could, you could, Yeah,
32:07
Speaker 5: you know, it makes sense to diversify to make make
32:10
Speaker 5: our economies more resilient.
32:13
Speaker 4: Mega Matra could come at any time the battle Godzilla,
32:16
Speaker 4: and and they were just and all of our chips
32:18
Speaker 4: would just be destroyed forever. But you bring up a
32:21
Speaker 4: good point, And this reminds me of something else I've
32:22
Speaker 4: read when I was on vacation, and it was talking
32:24
Speaker 4: about from a from a from a personal perspective, like
32:28
Speaker 4: we don't do enough individually to like shop ourselves on competition,
32:32
Speaker 4: like the homeowners insurance and stuff like that. For example,
32:36
Speaker 4: like a lot of times you go to with the
32:37
Speaker 4: company that you like, you just leave it there forever
32:39
Speaker 4: and you never even call them like, hey, can I
32:40
Speaker 4: get some lower rates now, or you know, hey the
32:42
Speaker 4: competition is giving us. You know, we don't do that
32:44
Speaker 4: because we kind of set it and forget it and
32:45
Speaker 4: we do that. And it was it was relating a
32:47
Speaker 4: lot of what was in our global economy to that
32:50
Speaker 4: exact same thing. People get comfortable with their relationships or
32:54
Speaker 4: are they maybe paying a little more than what they
32:56
Speaker 4: could should they re examine this relationship, could they find
32:58
Speaker 4: something else, something that's more efficient, And sometimes because it's
33:01
Speaker 4: easy and we leave it there, we stop getting hungry
33:04
Speaker 4: to get more efficient or to get more cost efficient
33:07
Speaker 4: or something like that. That should never be the case,
33:09
Speaker 4: but unfortunately it's human nature to settle into that.
33:11
Speaker 5: Well, you can almost look at not necessarily the economy,
33:14
Speaker 5: but but Europe right now, you know, with this uh,
33:19
Speaker 5: with basically Trump saying, hey, we're not paying the all
33:24
Speaker 5: the load here on NATO. Are what's happening there? Well,
33:27
Speaker 5: they're they're changing their policies, they're stepping up to the plate.
33:31
Speaker 5: You know, people were complacent with the status quo, but
33:35
Speaker 5: you know, they're making adjustments as well, and and it's
33:40
Speaker 5: probably for the good. You know, they're going to be
33:42
Speaker 5: stronger themselves, and nothing wrong with that, it's just sometimes
33:48
Speaker 5: you have to you know, you know, why am I
33:52
Speaker 5: I'm buying a new house right now? Why am I
33:53
Speaker 5: buying a new house right now? I don't know? Because
33:55
Speaker 5: we set in the same house for twenty some years
33:58
Speaker 5: and decided to look at different wall I don't know.
34:03
Speaker 4: I mean, well, there's there's many different It's better than
34:07
Speaker 4: why Sirrem and Hillary climb Everest. I mean, that's for sure,
34:09
Speaker 4: which was just because it's there. There are a little
34:11
Speaker 4: bit more reasons between that. John erd atlet to get
34:13
Speaker 4: the information out to you so you can have John's
34:15
Speaker 4: information John Burdett from Fourth Avenue Financial. You can find
34:18
Speaker 4: more information online is Fourth Avenue Financial dot com. Fourth
34:21
Speaker 4: Avenue Financial dot com spell outs the whole thing, no
34:23
Speaker 4: shortcuts there and you can find it on online and
34:26
Speaker 4: also on Facebook. You knew that same search and like
34:27
Speaker 4: the page John with the summer of vacations and travel
34:31
Speaker 4: and stuff like that. Some of John's ancillary programming that
34:34
Speaker 4: he has off of off of Fourth Avenue Financial has
34:38
Speaker 4: been delayed some this summer, but you have some some
34:40
Speaker 4: events that are coming up a little bit later on
34:42
Speaker 4: in the summer and getting into the autumn.
34:44
Speaker 5: Uh yeah, if you've if you've followed us and listened
34:47
Speaker 5: for a long time, we used to have weekly emails
34:49
Speaker 5: that are going out sent the first email out of
34:53
Speaker 5: this Friday. Every week. We're going to have new emails
34:56
Speaker 5: that have good financial tips and ideas and also imitations
35:01
Speaker 5: to events that we're going to have in the future.
35:03
Speaker 5: So please go onder the website. You can put your
35:07
Speaker 5: email address in and get on our mailing list so
35:11
Speaker 5: that you get those notifications, so.
35:13
Speaker 4: That you can go to Fourth Avenue Financial dot com
35:15
Speaker 4: and also fourth Avenue Financial on Facebook and you can
35:18
Speaker 4: find that information. Sign up for the newsletter because that's
35:20
Speaker 4: going to come in handy and you'll probably be able
35:22
Speaker 4: to read along with a lot of the things that
35:23
Speaker 4: we end up talking about here, especially when there's when
35:26
Speaker 4: there's going to be other events and things along those lines.
35:28
Speaker 4: Fourth Avenue Financial, Fourth Avenue Financial dot Com located one
35:31
Speaker 4: seventy Court Street, Downtown Charleson their phone number three zero
35:33
Speaker 4: four seven four six seven nine seven seven three zero
35:36
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35:38
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35:41
Speaker 4: five to eighty WHS. You can tune into it. You
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Speaker 4: can also go to WCHS network dot com slash retire
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Speaker 4: right and find podcasts from any point in time over
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Speaker 4: the last last several years. Really, we have a lot
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Speaker 4: of stuff in there. John, thanks a bunch of your time.
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Speaker 4: Good to see again. It's been a little while.
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Speaker 3: Yep, you too. Take care. We'll see you back here
35:57
Speaker 3: next week.
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Speaker 4: That's John Burdett with Fourth Avenue Financial once again, Downtown
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Speaker 4: Charleston three zero four seven four six seven non seven
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Speaker 4: seven seven four six seven none seven seven. I'm del Cooper.
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Speaker 4: Coming up NeXT's gonna be Dave Allin with five eighty Love.
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Speaker 4: After that we'll be talk lined with Dave and TJ.
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Speaker 4: Dave Allen will be back with Amanda this afternoon on midday,
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Speaker 4: and then I'll be back with Dave weekly this afternoon
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Speaker 4: at three h six on hotline. Have a great day
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Speaker 4: everyone on five ad w CCHS The Voice of Charleston
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Speaker 4: five ad w C.
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Speaker 11: HSA ninety six point five in Charleston one oh four
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Speaker 11: point five cross Laye WVRC Media Station. We are proud
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Speaker 11: to live here too.