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04/20/2026 Retire Right Radio with John Burdette · WCHS Network Podcasts

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Speaker 1: The views and opinions expressed on this program do not
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Speaker 1: necessarily reflect the views and opinions of five ADWCHS, its
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Speaker 1: employees or WVRC Media. This is retire Right Radio, a
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Speaker 1: weekly show from John Verdett at Fourth Avenue Financial that
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Speaker 1: aims to answer your questions about financial planning, investing, and
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Speaker 1: how to retire right. Fourth Avenue Financial is located in
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Speaker 1: downtown Charleston at one seventy Court Street. More information online
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Speaker 1: at fourth Avenue Financial dot com. Join the conversation by
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Speaker 1: calling three oh four three four five fifty eight fifty
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Speaker 1: eight or text three oh four nine three five fifty
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Speaker 1: oh eight. On Retire Right Radio, Let's go live to
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Speaker 1: the studio with host Dale Cooper and John Verdett from
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Speaker 1: Fourth Avenue Financial. Chasdown pleasure Monday morning.
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Speaker 2: To you.
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Speaker 3: You're listening to five DWCHS the Voice of Charleston.
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Speaker 2: This is retire Right Radio. John Bredet is a studio
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Speaker 2: with us this morning.
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Speaker 3: That means that you can give him a phone call
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Speaker 3: three zero four no three five, five zero or eight
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Speaker 3: is our text number three zero four three four five
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Speaker 3: fifty eight fifty eight is our phone number. Three zero four,
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Speaker 3: three four five fifty eight. Fifty eight is how you
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Speaker 3: can get through this morning. John, Good morning, how you
1:07
Speaker 3: doing this morning.
1:07
Speaker 4: I'm doing great.
1:09
Speaker 3: Good to see you in here. And a little chillier
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Speaker 3: this morning than what we had some of the weekend.
1:13
Speaker 3: It is still nice, I know, right I rolled mine
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Speaker 3: up this morning, thinking that maybe I can control a
1:18
Speaker 3: little bit, you know, I can leave them up, leave
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Speaker 3: them down, depending on what happens. But still looks nice
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Speaker 3: outside of least. There's no rain or anything right now,
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Speaker 3: so it's a it's a very nice morning. As you're
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Speaker 3: driving into work this morning. Not a whole lot going on.
1:28
Speaker 3: Just be careful as you're keeping them between the lines
1:31
Speaker 3: on the highway this morning. You made it through the weekend,
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Speaker 3: a pretty good weekend around the Canall Valley and the
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Speaker 3: Greater Charleston area. Lots of stuff going on. And now
1:40
Speaker 3: we come through the other side, and you know, I
1:43
Speaker 3: guess Easter is behind us, and we're looking for getting
1:46
Speaker 3: into the spring and then into summer, and school will
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Speaker 3: be out soon and all kinds of things.
1:50
Speaker 2: That's pretty crazy, it is.
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Speaker 3: Everything feels like it's almost Christmas, even now that we're
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Speaker 3: like whatever, hundreds of days before Christmas. Whenever I see
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Speaker 3: one of the updates, it's like it's two hundred and
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Speaker 3: twelve days before Christmas.
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Speaker 2: I'm like, oh my god, it's just right around the corner.
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Speaker 4: Don't forget about Christmas in July.
2:09
Speaker 2: But the big thing is what this time of year means.
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Speaker 3: That it's also past tax season as well, So we'll
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Speaker 3: talk about maybe some of the things that you getting
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Speaker 3: a big return there you can go on vacation with it,
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Speaker 3: but maybe there's some things you can do to to
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Speaker 3: help yourself financially for the future too. But we'll take
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Speaker 3: a look back and see what's going on. As far
2:25
Speaker 3: as the marketing things go, we always take like taking
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Speaker 3: a look at that and.
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Speaker 4: Yeah, they we're back to record high whatever. Yeah. Yeah.
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Speaker 4: The of course, the market rebounded strongly last week to
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Speaker 4: the you know, seeming breakthrough in the in in the
2:45
Speaker 4: goings on in the in the golf. But of course
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Speaker 4: this week it's a different story. So we'll see how
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Speaker 4: it plays out. I'm sure we'll have a little gift back,
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Speaker 4: but it really doesn't look like the futures are are
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Speaker 4: as upset about it as one might think, so we'll see.
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Speaker 4: The market's been very, very resilient from the depth of
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Speaker 4: the of the decline we had throughout this war period.
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Speaker 4: The market basically recaptured that in record time. It's been
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Speaker 4: an incredible rebound from that. You know, if you remember
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Speaker 4: COVID was a pretty big rebound, this is this is
3:29
Speaker 4: a similar type of thing. I mean, the market was
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Speaker 4: like a rubber band that sprunk back. And I think
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Speaker 4: that's because fundamentally, the earnings are still good, the consumers
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Speaker 4: in relatively good shape. Earnings projected to be accelerating, not
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Speaker 4: declining for companies, and that's a good background for stocks.
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Speaker 4: You know, there are a lot of good things happening
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Speaker 4: that way. As we mentioned, we're past tax season. The
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Speaker 4: average person is getting back more money than they ever
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Speaker 4: had before. About the average person getting a refund, it's
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Speaker 4: about thirty five hundred dollars, So it's a significant amount
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Speaker 4: of money that will be flowing into the economy. And
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Speaker 4: so we'll see that the market has been very, very resilient. Now.
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Speaker 4: Of course, you know, oil prices are right now a
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Speaker 4: huge impact on what goes on from day to day.
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Speaker 4: When that swings, well, the market kind of follows suit,
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Speaker 4: and we'll just see how that plays out. But you know,
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Speaker 4: I can't predict the war, that's for sure.
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Speaker 2: Well I don't think anybody can it.
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Speaker 3: And that's sort of one of the things that I
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Speaker 3: find that's as a lay person looking at this. The
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Speaker 3: thing that it seems like that I've observed is that
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Speaker 3: I don't know if there's such a thing as the
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Speaker 3: market settling in a certain position, but it seems like
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Speaker 3: that more than anything that whatever happens as far as
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Speaker 3: how the US pushes things, with the government, with the war,
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Speaker 3: different things like that, that the market may be try
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Speaker 3: to settle in.
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Speaker 2: Look, we don't know what's going to happen. We're just
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Speaker 2: going to kind of stay right here.
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Speaker 3: Yeah, and then whenever something does happen, well, things will
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Speaker 3: pivot that way or the other. But the market doesn't
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Speaker 3: generally doesn't like to be reactionary, you know, it looks
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Speaker 3: farther ahead. So I mean, I think at some point
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Speaker 3: it's like the boy that crowdwolf. It's like, I don't
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Speaker 3: know what's going on. We want to sit right here
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Speaker 3: and we'll see what happens when this thing shakes out.
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Speaker 4: You know, if you look at conflicts of the past
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Speaker 4: and how the markets responded, the market generally shrugs it
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Speaker 4: off to a degree after after things settle in, so
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Speaker 4: you know, we'll we'll see because like I said, we
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Speaker 4: talk time and tom again, companies make adjustments, just like
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Speaker 4: right now with the golf. Yes, there's some some restraint,
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Speaker 4: but there are other things going on. But you know,
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Speaker 4: companies haven't thrown up their hands and said, well we
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Speaker 4: can't get oil, we might as well shut down.
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Speaker 3: Right, yeah, right, you know, we're finding other ways, finding
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Speaker 3: other ways to do things.
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Speaker 4: And the longer that persists, the more the more those
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Speaker 4: companies will make those adjustments, which less and the impact.
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Speaker 4: And so we'll, you know, we'll see what how it
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Speaker 4: all plays out.
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Speaker 3: Do it for long enough and suddenly you give the
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Speaker 3: EVSA the boost that they've always had to know. Yes, ooops,
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Speaker 3: suddenly we tricked ourselves out of not eating oil anymore.
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Speaker 4: Whoops? That would be I mean, you know, like you say, oil,
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Speaker 4: if it does get too expensive, there all are alternatives.
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Speaker 3: So let's see, yeah, see see how these things shake out.
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Speaker 3: It's always pretty interesting. One thing I wondered if you
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Speaker 3: could comment on for a minute, because we've talked about
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Speaker 3: on the show before, and you see it here and
6:31
Speaker 3: there where people talk about prices of things, and so
6:34
Speaker 3: there's a couple of different areas where you need to
6:36
Speaker 3: be aware of. One of the things that you talk
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Speaker 3: about on here. We don't want to see generally for
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Speaker 3: prices to deflate, you know, because people talk about like
6:44
Speaker 3: prices are up where they were ten years ago.
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Speaker 2: Yeah they are.
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Speaker 3: They're not going to go back to where they were
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Speaker 3: in twenty sixteen. That's just not going to happen. What
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Speaker 3: what we're aiming for us for the quickness in which
6:53
Speaker 3: they rise to slow down. But then people will say, well,
6:56
Speaker 3: what about oil prices those so commodities and things like
6:59
Speaker 3: that are different, right, So oil prices can go down
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Speaker 3: without it saying, oh, that means that we're in the
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Speaker 3: middle of a deflationary period or something like that, because
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Speaker 3: it's not the same things as the other types of stuff.
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Speaker 4: Well, you know, it is supply and demand, I mean
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Speaker 4: to a degree. So if you look oil prices over time,
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Speaker 4: gas prices have gone up, but as a percentage of
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Speaker 4: our individual you know, expenses in our daily life, it's
7:26
Speaker 4: it's actually less than it was in the past. So
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Speaker 4: relatively speaking, our earnings have risen faster than gas prices
7:36
Speaker 4: have over the last twenty or thirty years. You know,
7:41
Speaker 4: if you look at same thing, if you look at electronics,
7:45
Speaker 4: look at there are all kinds of things. I mean,
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Speaker 4: But if you get a general deflation where everything goes
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Speaker 4: back down to where it was before, you're going to
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Speaker 4: have an economic calamity because things are now. You know,
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Speaker 4: they've created loans off of values of homes and autos
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Speaker 4: and all of these things that would somewhat collapse if
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Speaker 4: if prices were falling. Also, if prices were falling, what
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Speaker 4: would people do. They would just set on their money.
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Speaker 4: They would set on their money and wait till things
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Speaker 4: come down. If oh, house prices are falling, I'm going
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Speaker 4: to wait. Well, that turns it into a spiral. And
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Speaker 4: so it's very dangerous to think that prices are going
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Speaker 4: to fall back down. It's the rate of change that
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Speaker 4: you're looking at, as our prices going up faster really
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Speaker 4: than earnings overall, and lately they earnings have been outstripping inflation.
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Speaker 4: Now it doesn't feel that way because we still are
8:50
Speaker 4: anchored to a couple of years ago when prices were less,
8:53
Speaker 4: but our paychecks generally are more too. And if you
8:59
Speaker 4: look at the economy as a whole the paychecks are
9:02
Speaker 4: rising faster than the costs have in the last couple
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Speaker 4: of years, and that wasn't the case during that inflationary period,
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Speaker 4: and so that was that kind of upset the apple cart.
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Speaker 4: We hadn't seen that type of inflation in a long
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Speaker 4: long time, you know, inflation was very low for a
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Speaker 4: long time, and then we had that spike and it
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Speaker 4: was kind of a shock to the system and people
9:26
Speaker 4: did feel that pinch. But like I say, the last
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Speaker 4: year and a half or so, we really have been
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Speaker 4: slowly growing our earnings and our income faster than prices,
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Speaker 4: and and that's what typically you want to have happened.
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Speaker 4: You don't really want prices to fall. You want earnings
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Speaker 4: to rise slightly faster than than the prices.
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Speaker 3: And that's the way that you that you consider those
9:57
Speaker 3: things going into the future, if you're trying to plan
9:59
Speaker 3: budget or anything else. That's the way that you that
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Speaker 3: you don't assume that there's going to be a time
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Speaker 3: where things are going to be cheaper. That's not like
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Speaker 3: you know, like, well, things will get fixed and suddenly
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Speaker 3: things will be cheaper. There could be yeah, the price
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Speaker 3: and demand of oil could be different, and so sure,
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Speaker 3: you could have some some difference in the oil market,
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Speaker 3: and things like electronics could be a little different too,
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Speaker 3: because it comes cheaper to make those TVs. Now you
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Speaker 3: can get that eighty inch TV for under a thousand
10:22
Speaker 3: bucks where it was you know, five thousand.
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Speaker 4: Definitely be deflation in certain areas, and then that's good deflation, right,
10:28
Speaker 4: that's deflation of Oh we figured out how to produce this.
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Speaker 2: We can make this TV really quickly.
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Speaker 4: Now, yes, yes, and that's good in a good deflation,
10:36
Speaker 4: but the overall general deflation is is well, I mean
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Speaker 4: the less time we had that persist was the Great Depression. Yeah,
10:47
Speaker 4: you know, nobody wants that.
10:48
Speaker 3: I saw two times online this weekend when I was
10:51
Speaker 3: reading stuff, And that's the reason I wanted to bring
10:53
Speaker 3: it up just a little bit. Is people with a
10:56
Speaker 3: criminal misunderstanding of exactly how prices and things work, and
11:00
Speaker 3: and inso much that they're banking on some indeterminate time
11:05
Speaker 3: in the future where they're only spiking the amount like
11:08
Speaker 3: this is the amount that we need to do for now.
11:10
Speaker 3: But when things get back to normal, this is what
11:13
Speaker 3: I'm looking at from my budget. I'm like, what normal
11:15
Speaker 3: are you talking about? And lets unless you're talking about
11:17
Speaker 3: something within your life that you're not you know, resulting
11:20
Speaker 3: in this thing that you're sharing, and there's something else
11:21
Speaker 3: going on. There is no like oh, and and what
11:24
Speaker 3: do you think is going to happen in two years
11:25
Speaker 3: where prices are going to be like suddenly?
11:28
Speaker 2: What? What?
11:28
Speaker 4: What is?
11:29
Speaker 2: What?
11:29
Speaker 3: What do you think is actually going to happen there?
11:31
Speaker 3: That bread's going to be cheaper, the chickens want to
11:33
Speaker 3: be cheaper, the ground bee's going to be cheaper. I
11:34
Speaker 3: mean that's likely not going to happen.
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Speaker 4: Yeah, And like you say, it could, it could happen
11:38
Speaker 4: in certain categories, but across the whole economy, across your budget,
11:44
Speaker 4: probably not going to hap Like with chicken, probably shouldn't
11:46
Speaker 4: wish it well.
11:47
Speaker 3: Like with chicken, chicken had a problem where some of
11:49
Speaker 3: the plants had some some issues with workers and there
11:52
Speaker 3: was like a seminal outbreak. There were there were there
11:55
Speaker 3: were conditions that led to like the big Chicken spike
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Speaker 3: on top of COVID and so we saw there's prices
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Speaker 3: come back down, but that wasn't because of any magic
12:02
Speaker 3: policy that somebody put into place. That it's because the
12:05
Speaker 3: supply became bigger. There was more supply of it.
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Speaker 4: Again, it was more supply, and prices generally will you know,
12:12
Speaker 4: fall as we get more efficient of producing things. And
12:16
Speaker 4: there again that doesn't even have to be falling in
12:19
Speaker 4: actual dollar terms, but falling as a percentage of our spending.
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Speaker 2: Interesting, right, Yeah, you.
12:27
Speaker 4: Know, something could cost the same, but if our incomes
12:30
Speaker 4: are up ten percent, then as a percentage of our spending,
12:33
Speaker 4: it's actually less costly, you know, just like today a
12:38
Speaker 4: refrigerator or a washing machine. Yes, it costs more than
12:42
Speaker 4: it did twenty five years ago, but today it also
12:45
Speaker 4: costs less man hours of working to purchase that. So
12:50
Speaker 4: the dollar price is up, but the labor cost is
12:54
Speaker 4: actually down, and that's really what matters. And inflation is
12:59
Speaker 4: danger when it gets out of control, because then it
13:03
Speaker 4: changes our mindset of how we spend our dollars and
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Speaker 4: it and it becomes the spiral up, just like deflations
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Speaker 4: can spiral down, where people are buying faster to get
13:15
Speaker 4: ahead of the price increases, which exacerbates the supply and
13:19
Speaker 4: demand issues.
13:21
Speaker 3: I think a great conversation this morning. If you like
13:22
Speaker 3: the way in you're welcome to give us a call.
13:24
Speaker 3: Three zero four three four five fifteen fifty eight three
13:26
Speaker 3: four five fifty fifty eight.
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Speaker 2: You can text.
13:27
Speaker 3: Threes are four non three five five zero zero. Eight
13:29
Speaker 3: thre es are a four non three five five zeros
13:31
Speaker 3: or eight. You're more than welcome to text or call
13:33
Speaker 3: this morning. We'll take a break here in just a
13:34
Speaker 3: few minutes. We're going to talk a little bit about
13:36
Speaker 3: maybe some of the things you can look into doing
13:38
Speaker 3: with your tax returns. There's some smart things you might
13:40
Speaker 3: be able to do with that kind of money. Just
13:43
Speaker 3: before we take our break, as far as kind of
13:45
Speaker 3: taking the temperature of the market is for this upcoming week,
13:48
Speaker 3: any big announcements or numbers that we're expecting that's taking
13:52
Speaker 3: the warth out of it, like traditionally, Any earnings anything
13:55
Speaker 3: like that we're looking for this upcoming week.
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Speaker 4: You know, I think the only thing that's going to
13:58
Speaker 4: go on this week is wondering what's going to happen
14:02
Speaker 4: in the Middle East. I think that's going to uh.
14:04
Speaker 4: I hate to use the word Trump everything, but but
14:08
Speaker 4: you know, oil prices and that in the direction of
14:11
Speaker 4: that are are somewhat in control right now.
14:13
Speaker 3: It's certainly a time for the history books. If assuming
14:16
Speaker 3: that we'll teach history at some point in the future.
14:18
Speaker 3: This time will probably be taught. Would imagine with the
14:21
Speaker 3: tariffs and and wars, it there's a lot of different
14:24
Speaker 3: interesting things going on.
14:25
Speaker 4: Yeah, and but there again, if you look at conflicts
14:28
Speaker 4: in the past, it hasn't necessarily been the downfall of
14:33
Speaker 4: the market. Oh yeah, right, it's just like say, the
14:36
Speaker 4: market is resilient, and not just the stock market, but
14:40
Speaker 4: just the overall market. You know, you think about it,
14:44
Speaker 4: You're living your daily life right now. I'm living my
14:47
Speaker 4: daily life. That is economic activity. And it doesn't just.
14:51
Speaker 3: Stop any market skeptics out there or people that are
14:56
Speaker 3: skeptic to put money in the market. Really, over these
14:58
Speaker 3: last several weeks should alleviate a lot of your your
15:01
Speaker 3: your fears over that sort of thing, because the the
15:06
Speaker 3: I don't want to say that the market has shrugged,
15:08
Speaker 3: because there certainly has been some reaction, but generally speaking,
15:11
Speaker 3: nothing has really happened other than you know, one day
15:14
Speaker 3: of sell off or two days or whatever. But you
15:16
Speaker 3: have seen not only the sell off but the recovery
15:18
Speaker 3: in such a short amount of time. You want you
15:20
Speaker 3: should understand how this works. You're like, okay, well, that's
15:22
Speaker 3: sort of a microcosm in general, of how the market's
15:25
Speaker 3: going to respond to things. It's going to there'll be
15:27
Speaker 3: a dip that will recover and be bigger than it
15:30
Speaker 3: was before.
15:30
Speaker 4: Okay, and it and it certainly for younger people should
15:35
Speaker 4: be you know, realize and recognize this as an opportunity.
15:39
Speaker 4: You know, when that market is down and you're saving
15:41
Speaker 4: in your four zero and K the way you should
15:43
Speaker 4: be doing, you're buying more shares so when it rebounds,
15:46
Speaker 4: you own more than you owned going into the decline,
15:50
Speaker 4: and over time that compounding is a is a powerful thing.
15:54
Speaker 4: Like you say, these volatile moments, you know, if they persist,
15:58
Speaker 4: and we can have downturns that persist longer than a
16:01
Speaker 4: few weeks, you know, that's where allocation comes in as
16:04
Speaker 4: you get closer to retirement. But certainly as a young person,
16:08
Speaker 4: this should not be a point of fear as much
16:10
Speaker 4: as it should be a learning experience to say, hey,
16:15
Speaker 4: I just need to stick with this. I need to
16:17
Speaker 4: control what I control, which is the amount that I
16:21
Speaker 4: spend on the amount that I save and invest, and
16:23
Speaker 4: I need to be consistent with it and just trust
16:26
Speaker 4: that process because that process will you know, produce results
16:33
Speaker 4: almost without.
16:34
Speaker 3: Question, great information as always with John BREDBT for Fourth
16:37
Speaker 3: Avenue Financial. Measured advice that you can use and maybe
16:40
Speaker 3: you need to apply something in your life. You can
16:42
Speaker 3: give John a call on the radio for another twenty minutes.
16:44
Speaker 3: Here we're going to go and take a break, and
16:45
Speaker 3: when you come back, you're welcome to give us a
16:47
Speaker 3: call with any question with John BREDBT for Fourth Avenue Financial.
16:49
Speaker 3: Three zero four three four five fifty eight fifty eight
16:51
Speaker 3: three four five fifty eight fifty eight. You can text
16:53
Speaker 3: three zero four non three five five zero zero eight
16:55
Speaker 3: three zero four non three five five zeros er eight.
16:58
Speaker 3: This is retire Right Radio. We're going to take a break.
17:00
Speaker 3: Be back right after this. John Bredett is here in studio.
17:02
Speaker 3: I'm Del Cooper.
17:02
Speaker 2: This is fy DWCHS, the Voice of Charleston.
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17:58
Speaker 1: I'm Ted Becker.
18:00
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19:00
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Speaker 3: at three zero four three four five fifty eight fifty
20:16
Speaker 3: eight three four five fifty eight fifty eight. A couple
20:20
Speaker 3: of things that I wanted to touch. One during the
20:22
Speaker 3: break I was mentioning how I don't know, I guess
20:24
Speaker 3: it's almost I hate to say a hobby. But one
20:26
Speaker 3: of the things that I that I find myself gravitated
20:29
Speaker 3: towards online is finding these different communities of people that
20:32
Speaker 3: do like Wall Street bets and prediction markets and different
20:37
Speaker 3: things like that. And there's a certain sector of our
20:41
Speaker 3: of our society right now, and I would call it
20:43
Speaker 3: youngish men in their twenties. It seems like to be
20:46
Speaker 3: a large portion of it. That gambling and investing has
20:50
Speaker 3: seemed to be two sides at the same coin to them,
20:55
Speaker 3: and there couldn't be two different things in the world
20:58
Speaker 3: and in reality. And you've explained that so many times
21:00
Speaker 3: about the difference between those things. But I just wanted
21:03
Speaker 3: to just caution for a moment that you know, you
21:07
Speaker 3: you really need to be aware of circumstances before you
21:12
Speaker 3: get into whether it be prediction markets or if it's
21:16
Speaker 3: just you know, where you're day trading and looking to
21:18
Speaker 3: make moves on something along those lines. You know, thinking
21:23
Speaker 3: that you found this one neat trick, you know oftentimes
21:25
Speaker 3: is not going to be the neat trick other than
21:27
Speaker 3: one that leads you to not having any money.
21:28
Speaker 2: I mean, you just have to be careful with those
21:30
Speaker 2: sorts of things.
21:31
Speaker 4: Right Most tricks have been thought of before. They're generally
21:35
Speaker 4: not a novel. But you know, gambling and has been
21:39
Speaker 4: around for a long time obviously, you know, in a sense.
21:44
Speaker 4: You know, day trading in the dot com era was
21:47
Speaker 4: like that. I mean, it was not based on any
21:50
Speaker 4: fundamental that that you know, or a metric that you
21:54
Speaker 4: could measure. It was just what's moving today, and let's
21:58
Speaker 4: get on the train. And so the gambling is not new,
22:02
Speaker 4: it's just more pervasive now. It's just everywhere, and especially
22:08
Speaker 4: now with the sports betting and the prediction markets, and
22:12
Speaker 4: and you know, people then see the stock market is
22:15
Speaker 4: an extension of that or something very similar, and it's not.
22:20
Speaker 4: And and a lot of people will hurt themselves in
22:25
Speaker 4: that process. And now hopefully when they hurt themselves, they
22:30
Speaker 4: will learn a lesson from it that they can then
22:32
Speaker 4: improve upon themselves. A great many will probably though, recoil
22:38
Speaker 4: from it and then give up the opportunity that the
22:43
Speaker 4: market offers to secure a financial future. And that's the
22:48
Speaker 4: risk of it. But but you know, for a lot
22:50
Speaker 4: of people, the lesson that has learned in the loss
22:54
Speaker 4: will will hopefully be a teacher. And you know, the
23:00
Speaker 4: best way to know not to touch the touch the
23:03
Speaker 4: stove is to touch it, and you won't do it again.
23:06
Speaker 4: You know.
23:07
Speaker 3: You bring up such a good point there, because people
23:09
Speaker 3: conflate these two things. And I don't mean everybody, but
23:12
Speaker 3: there there are certain sectors that are conflating these things
23:14
Speaker 3: right now and getting burned on one. Like if you
23:16
Speaker 3: get burned on the prediction market when something could sour
23:20
Speaker 3: you on the thing that would lead you to retire,
23:23
Speaker 3: right you know, I mean, if you're not careful by
23:26
Speaker 3: making these things uh in your mind to be the
23:31
Speaker 3: same thing, they're really not. You need and we need
23:33
Speaker 3: to be careful of that sort of terminology and things
23:35
Speaker 3: along those lines, because, for example, even in the difference
23:38
Speaker 3: between regular gambling, the type of gamling that's been around forever,
23:41
Speaker 3: and the prediction markets, it's frowned up in there.
23:43
Speaker 1: Now.
23:43
Speaker 3: There's corruption and things like that in gambling, but it's
23:46
Speaker 3: frowned up on generally. For like the big scandal on
23:48
Speaker 3: the NBA right now with uh uh that's uh has
23:52
Speaker 3: several over overlying circles where you know, where people are
23:56
Speaker 3: shading points off of games individually, you know, for their
23:59
Speaker 3: for their prediction market games. Even if you're going to
24:00
Speaker 3: get eight rebounds this quarter and then the rebound comes
24:04
Speaker 3: to you and you turn away from it or whatever,
24:05
Speaker 3: so you don't get it, and players are participating in
24:08
Speaker 3: those markets themselves. That's not that's not even traditional gambling,
24:12
Speaker 3: you know, that's a fake market, that is. And the
24:15
Speaker 3: prediction markets are like that. And so when you start
24:16
Speaker 3: getting that to the national level, where there's news stories
24:18
Speaker 3: and there's people within the mechanisms of power that are changing,
24:22
Speaker 3: how the outcomes of those are you as just a
24:24
Speaker 3: plead on the ground, you have no chance. You have
24:27
Speaker 3: no chance. Now you just having to guess how it's
24:29
Speaker 3: going to be influenced. That's dangerous, man, you can't do that.
24:31
Speaker 4: Yeah, the stock market is a whole different different animal
24:35
Speaker 4: owning companies, you know, you think about it, they're real. Yes,
24:40
Speaker 4: it's not a number on a page that happens to
24:42
Speaker 4: change on a whim. It is a number that exists
24:47
Speaker 4: because it's supported by an actual business serving people. That's
24:51
Speaker 4: a whole different thing. You know, if that business grows,
24:54
Speaker 4: unlike gambling, there's not a loser to pay you off.
24:57
Speaker 4: Everyone wins as that business grows, as it serves more people.
25:02
Speaker 4: An entirely different thing. And you know, I can't stress
25:07
Speaker 4: that enough. Although you know, all of these casinos have
25:12
Speaker 4: bigger budgets than I do to you know, to advertise
25:15
Speaker 4: and but that doesn't change reality.
25:19
Speaker 3: Let's talk about that tax return a little bit for
25:22
Speaker 3: the last fifteen minutes or so of the program here,
25:24
Speaker 3: because there's a there's a lot of different at least
25:27
Speaker 3: you will get into the details here and explain some
25:30
Speaker 3: of the some of the ways that your tax turned
25:32
Speaker 3: can do work for you. And the way I look
25:33
Speaker 3: at it, I have some money coming back, so I
25:35
Speaker 3: look at it a couple different ways. If there's anything
25:39
Speaker 3: loose out there that I need to take care of,
25:40
Speaker 3: or maybe that I was saving for anyway that I
25:42
Speaker 3: can take a short cut to. So you know, if
25:45
Speaker 3: I save the money on the front end, then on
25:46
Speaker 3: the back end, I'm putting that money in investment or whatever.
25:48
Speaker 3: So it works that way as well. But also if
25:51
Speaker 3: you're pretty much flush and you're just getting a bonus
25:54
Speaker 3: back at the end of the year, and this is
25:55
Speaker 3: what my mom did for her entire for her entire life,
25:58
Speaker 3: I think you just put the money back in herstments
26:00
Speaker 3: and that helps too.
26:02
Speaker 1: Well.
26:02
Speaker 4: The first thing I know, like I say, the average
26:04
Speaker 4: person getting return, it's like thirty five hundred dollars. It's significant.
26:08
Speaker 4: But the first thing to understand is that was you
26:12
Speaker 4: saving that money is a gift. You're getting that money
26:17
Speaker 4: back because you overpaid the government through your paycheck. So one,
26:22
Speaker 4: that is a sign that you know you can also
26:25
Speaker 4: afford to save because the average person saved three dollars
26:30
Speaker 4: almost three hundred dollars a month or they would be
26:32
Speaker 4: getting the tax return pack. So you know, if a
26:37
Speaker 4: person wanted to, they could invest that money into the market.
26:42
Speaker 4: They also could change their tax withholding so they're not
26:44
Speaker 4: withholding so much and then do a systematic investment into
26:48
Speaker 4: the market or participate greater in their four oh one K.
26:54
Speaker 4: That's your money that you loaned to the government and
26:58
Speaker 4: they didn't pay you interest on it. But it also
27:01
Speaker 4: proves that you can save because you did forced out
27:07
Speaker 4: of your paycheck. That right there tells you that you
27:09
Speaker 4: can do it. So that's I think one thing to
27:12
Speaker 4: keep in mind. Now if you get the refund coming back,
27:16
Speaker 4: you know, treat it like money that you saved. What
27:18
Speaker 4: are the goals that you have? Do you have consumer debts?
27:22
Speaker 4: You know, pay those things off. That's you know, you
27:25
Speaker 4: might not have had that consumer debt if you withheld
27:28
Speaker 4: less from your check and had the discipline to pay
27:31
Speaker 4: that pay that off in cash, pay it off that
27:34
Speaker 4: That is the number one thing you can do. Make
27:37
Speaker 4: sure you have an emergency fund so that when something
27:40
Speaker 4: comes up it doesn't put you back in the hole
27:42
Speaker 4: where you're paying interest to a financial institution. And then
27:48
Speaker 4: you know, work towards your long term goals, you know,
27:53
Speaker 4: getting that money placed and put to work for you
27:56
Speaker 4: in the market. You know, could you use it for
27:58
Speaker 4: a vacation or something like that. Well, yes you could,
28:01
Speaker 4: but only I would say, only if that was part
28:04
Speaker 4: of your financial plan. You know, don't look at it
28:07
Speaker 4: as found money. It's not found money. It's your money
28:11
Speaker 4: that you systematically saved through your paycheck with the government
28:16
Speaker 4: for no interest. You know, make sure that you're using
28:21
Speaker 4: it as an extension of everything that you were working towards.
28:24
Speaker 3: Anyway, I've heard people say before they get back a
28:28
Speaker 3: large amount of money at the end of the year
28:30
Speaker 3: that well this if asked, why don't you change your
28:33
Speaker 3: withholding sore so you're not giving up so much money? Everybody,
28:36
Speaker 3: So this is like my savings account. I know that
28:37
Speaker 3: I'll get this back at the end of every year,
28:39
Speaker 3: which I mean, okay, but if it's safe. For example,
28:42
Speaker 3: you know, say four grand man that four grand if
28:44
Speaker 3: you had to work in investments over a year period,
28:47
Speaker 3: you're really leaving a lot of money on the table.
28:49
Speaker 3: If you're just giving that to the government to hold
28:51
Speaker 3: for you for twelve months until they give it back
28:53
Speaker 3: to you, that's that's not a good deal. For the
28:55
Speaker 3: for the for the tax paid, No, it's not.
28:57
Speaker 4: A good deal. But but there again, it's the same
29:00
Speaker 4: reason though your four O one K works. You know,
29:03
Speaker 4: most people would not save as much as they do
29:05
Speaker 4: if it did come directly for the four O one k,
29:09
Speaker 4: So it's a systematic you don't miss it as it's
29:12
Speaker 4: coming out in small increments. And there again that there's
29:16
Speaker 4: nothing wrong with that. Even if you do save that
29:18
Speaker 4: way and get a refund, it's but you better do
29:20
Speaker 4: something productive with it when it comes back, because it's
29:22
Speaker 4: not found money. It's your money out of your paycheck,
29:26
Speaker 4: and it's part of your And if you're getting back
29:29
Speaker 4: three four thousand dollars like a lot of folks are,
29:32
Speaker 4: that's a significant amount of money that you've saved over
29:35
Speaker 4: the course of the year that can now be used
29:37
Speaker 4: for productive purposes.
29:38
Speaker 3: If you wanted to, and it was relatively consistent like that,
29:41
Speaker 3: could you rebalance your withholdings and your and your automatic
29:45
Speaker 3: payment into your four one K and try to match
29:47
Speaker 3: those things up. Hey, if I get three thousand dollars
29:49
Speaker 3: back every year, why not just change my withholding or
29:52
Speaker 3: change my automatic distribution to four one K so I
29:55
Speaker 3: put an extra three thousand dollars in it every year,
29:57
Speaker 3: and then you wouldn't necessarily have Although it works different
29:59
Speaker 3: than the other out of tax, but generally speaking that
30:01
Speaker 3: should sort.
30:01
Speaker 4: Of yeah, I mean, you could definitely do that in
30:03
Speaker 4: conjunction with changing your your withholding tax withholding, you know,
30:09
Speaker 4: because you can change how much gets without out of
30:12
Speaker 4: your check by oh yes, you know, by deciding how
30:17
Speaker 4: many exemptions you claim and things of that nature. So
30:20
Speaker 4: if you, you know, essentially are having the max withheld
30:26
Speaker 4: and you're getting a big check back, that's the same
30:28
Speaker 4: thing really as you deciding I'm going to save in
30:31
Speaker 4: a four oh one k, you know, because you're clearly
30:35
Speaker 4: going to get it back. You're you're just basically have
30:37
Speaker 4: agreed to loan the government money for no interest.
30:41
Speaker 2: When they flip side of that.
30:43
Speaker 3: When I was in a highly competitive commission environment back
30:47
Speaker 3: in the late nineties and early two thousands, there was
30:49
Speaker 3: a lot of coworkers, because commission would go startingly up
30:53
Speaker 3: and down. You might get paid twenty grand one month
30:56
Speaker 3: and then nothing the next month, I mean, you know,
30:57
Speaker 3: or four hundred dollars or you know, it would just
30:59
Speaker 3: it would be really really peakin valley. And what a
31:02
Speaker 3: bunch of these guys decided to do is to claim
31:05
Speaker 3: maximum with holdings, so you know, they would get a
31:08
Speaker 3: twenty thousand dollars paycheck or whatever and get very little
31:10
Speaker 3: taxes held out of it because they would be claiming
31:12
Speaker 3: twenty or whatever on their withholdings. And of course what
31:15
Speaker 3: that meant at the end of the year is they
31:16
Speaker 3: just had a gargante onan tax bill, you know, because
31:19
Speaker 3: they weren't paying enough into it, and and they hit
31:21
Speaker 3: the jackpot enough where they would get large enough paychecks.
31:24
Speaker 3: But when you get to the end of the year,
31:26
Speaker 3: you just owe so much money. I knew so many
31:28
Speaker 3: guys in that industry who are trying to game the
31:30
Speaker 3: system who got paid. Some of these companies paid W
31:33
Speaker 3: two regular W two's and then also paid large commission,
31:36
Speaker 3: but they on their withholdings did twenty withholdings or something.
31:39
Speaker 3: They got in tons of debt, you know, where they
31:41
Speaker 3: were having to pay thousands of dollars a month to
31:44
Speaker 3: the rs. You want to be careful when you're doing
31:46
Speaker 3: that stuff and do it the right way, I.
31:48
Speaker 4: Think, trying to balance it out. Now, you know, self
31:51
Speaker 4: employed people, people that own businesses, you know, it can
31:54
Speaker 4: get very tricky because you know you're getting a most
31:58
Speaker 4: business owners take away of some sort. It's very easy
32:02
Speaker 4: to decide what to withhold there. But then the profitability
32:05
Speaker 4: of a business is elastic. It can go up and down,
32:08
Speaker 4: like you're talking about with commissions. One year a business
32:11
Speaker 4: might make a half a million, or the next year
32:13
Speaker 4: it might lose money. You know, making sure that you
32:16
Speaker 4: pay along the way, you know, if you're going to
32:19
Speaker 4: owe money is otherwise it's it's a big hurd at
32:23
Speaker 4: the end of the year.
32:24
Speaker 3: So regardless of what the situation you find. And when
32:27
Speaker 3: we're talking about here, we talk about tax returns that
32:29
Speaker 3: you get back and there are smart things that you
32:30
Speaker 3: can do with that money. But that goes for pretty
32:33
Speaker 3: much any circumstance, whether you get a bonus at your
32:35
Speaker 3: job or something like that, you get maybe you win
32:38
Speaker 3: a scratch off ticket or something, you know what I mean,
32:39
Speaker 3: And now that's a windfall that's not money that you
32:41
Speaker 3: paid in. But those circumstances are ones that where if
32:44
Speaker 3: you're lucky enough to win a couple thousand dollars, I mean,
32:47
Speaker 3: a couple thousand dollars probably isn't going to change your life,
32:50
Speaker 3: but you could really put that to work for you,
32:51
Speaker 3: to maybe get rid of some consumer debt or pay
32:53
Speaker 3: something down.
32:54
Speaker 2: You could have that work for you quite a bit.
32:56
Speaker 4: Yeah, And you know, a lot of it depends. It
33:00
Speaker 4: could change your life depending on what you do. I mean,
33:02
Speaker 4: if you're getting rid of a thirty percent credit card
33:05
Speaker 4: instead of taking a vacation with that, you know that
33:08
Speaker 4: will pay dividends the rest of your life and will
33:11
Speaker 4: keep compounding. You know, if you invest it instead of
33:14
Speaker 4: taking that vacation, you know that two thousand might grow
33:17
Speaker 4: to fifty thousand by the time you retire. You know.
33:20
Speaker 4: So most people are successful by doing things correctly in small,
33:27
Speaker 4: incremental ways. And it's not a lucky hit. It's it's
33:33
Speaker 4: a discipline that I'm going to save this amount of
33:36
Speaker 4: money and I'm going to put this back for the future.
33:40
Speaker 4: And you do it just like it is a bill,
33:44
Speaker 4: or like it is a tax. Withholding you do it
33:46
Speaker 4: systematically and you trust the process and that's how you
33:51
Speaker 4: become successful over long periods of tom And if you
33:56
Speaker 4: have the opportunity to execut you that with a tax refund,
34:03
Speaker 4: you why not do that? You know, just use it
34:05
Speaker 4: as part of your plan that you're trying to build out.
34:08
Speaker 4: And and you know, if a vacation was part of
34:12
Speaker 4: your budget, fine, but if you're not meeting your savings
34:19
Speaker 4: requirements to be satisfied, if you're not if you're paying
34:23
Speaker 4: consumer credit card debt, if you don't have an emergency fund,
34:26
Speaker 4: I would say those things are of a priority overtaking
34:29
Speaker 4: that vacation. You know, you have to be financially sound,
34:33
Speaker 4: because once you're financially sound, if you're going to be
34:36
Speaker 4: able to take a lot more vacations in the future
34:39
Speaker 4: and not worry about spending the money, if you do
34:42
Speaker 4: the right things and build that foundation early on.
34:45
Speaker 2: Yeah, that makes a lot of sense.
34:46
Speaker 3: You have to be measured in those responses, and you
34:49
Speaker 3: can find ways to get through any of these circumstances.
34:53
Speaker 3: I just I find that it's very worthwhile for folks
34:56
Speaker 3: to consider when they have you talk about, you know,
35:00
Speaker 3: the Ramsey system, debt, snowball and things along those lines.
35:04
Speaker 3: I've seen some grass before on you know, a household
35:07
Speaker 3: with not very much disposable income, and you mentioned what
35:09
Speaker 3: made me think of this. You mentioned something about a
35:11
Speaker 3: two thousand dollars credit card debt. So I was remember
35:14
Speaker 3: reading a scenario a few months ago on a household
35:16
Speaker 3: that had one credit card that was just two thousand dollars.
35:19
Speaker 3: But the problem is is their budget could only afford
35:22
Speaker 3: the minimum payment on that credit or that's the way
35:24
Speaker 3: that they built their budget. They could afford the minimum
35:26
Speaker 3: payment on that credit card. That credit card is never
35:28
Speaker 3: going to go away if you do it that way.
35:29
Speaker 3: That two thousand dollars debt is going to if you're
35:33
Speaker 3: just paying the minimum. In fact, it's going to go
35:35
Speaker 3: up if you're just paying the minimum on that every
35:37
Speaker 3: single month. You have to find a way. And that's
35:39
Speaker 3: why if you get like a windfall or sudden cash
35:41
Speaker 3: or something like that, if you eliminated that debt completely
35:44
Speaker 3: where it wasn't normally within your means to completely eliminate
35:47
Speaker 3: that debt, suddenly that frees up that seventy five dollars
35:50
Speaker 3: a month or just whatever it is, which.
35:51
Speaker 4: Said can be placed in a productive investment. Earning interest.
35:56
Speaker 4: That way, you're earning the interest, you're not paying the interest.
36:01
Speaker 4: There again, people afraid of investing in the market, Well,
36:05
Speaker 4: what is that credit card other than the opposite of that.
36:08
Speaker 4: You know you're paying interest. Why don't you want to
36:11
Speaker 4: be the receiver of it?
36:12
Speaker 3: It makes sense right. Sometimes it takes one pen. You
36:14
Speaker 3: can take that money and put it into something else.
36:16
Speaker 3: Suddenly you get something else paid off. You can bind
36:18
Speaker 3: those two moneies, put it into something else. That's the snowball,
36:20
Speaker 3: and maybe you just not knock one leg out of
36:23
Speaker 3: that chair and you can start the snowball on your own.
36:25
Speaker 3: So all things that you can think about and things
36:27
Speaker 3: that John Perdabd at Fourth Avenue Financial can help you
36:28
Speaker 3: out with. Let's get the information out to you one
36:30
Speaker 3: more time before we have to leave the airways this morning.
36:32
Speaker 3: Fourth Avenue Financially could be found online. It's Fourth Avenue
36:35
Speaker 3: Financial dot com. They're located here in Charleston, West Virginia,
36:37
Speaker 3: just over on Court Street, downtown Charleston, across from the
36:40
Speaker 3: Town Center Mall. The phone number is three zero four
36:42
Speaker 3: seven four six seven nine seven seven three zero four
36:44
Speaker 3: seven four six seven nine seven seven. On line, it's
36:46
Speaker 3: fourth Avenue Financial dot com that you spell out the
36:48
Speaker 3: whole thing. So spell up fourth and the whole word avenue,
36:51
Speaker 3: fourth Avenue Financial dot com and you can find the website.
36:54
Speaker 3: You can do that same search on Facebook. Chances are
36:56
Speaker 3: you get it like halfway through the word and it's
36:57
Speaker 3: just going to come up. But anyway, do that same
36:59
Speaker 3: search on Facebook and you can like the page over
37:01
Speaker 3: there as well. So if anything's coming up, uh that
37:04
Speaker 3: John's doing occasionally seminars, different things along those lines, you'll
37:07
Speaker 3: be able to uh uh to come up on that. Uh,
37:10
Speaker 3: anything going on at the vinyl Uh the vinyl place
37:12
Speaker 3: over in South Charleston.
37:14
Speaker 4: Oh, you know, we keep growing it. Uh. I got
37:16
Speaker 4: a great collection uh of classic rock uh a few
37:21
Speaker 4: days ago. Uh Christine records.
37:23
Speaker 2: Uh.
37:25
Speaker 4: You know I've had it had all the all led
37:28
Speaker 4: Zeppelin records and and it had the uh uh I
37:31
Speaker 4: think it's led Zeppelin three with the uh. It actually
37:34
Speaker 4: had the spinner in the cover.
37:36
Speaker 2: Oh nice, Oh yeah, right, Akadelic.
37:38
Speaker 4: Type spinner that that was in there. You know all
37:41
Speaker 4: the new pressings that they don't have that there. It's
37:44
Speaker 4: just a picture, you know, this this actually had the
37:47
Speaker 4: working intact spinner which I thought was kind of cool.
37:50
Speaker 2: That's good stuff.
37:50
Speaker 3: That's over Atventage and Vonn's John's Record Store over there
37:53
Speaker 3: in South Charleston. And Fourth Avenue Financial Online, Fourth Avenue
37:56
Speaker 3: Financial dot Com. Fourth Avenue Financial dot Com. Phone number
37:59
Speaker 3: threes are A fourth seven fourth six seven on seven
38:00
Speaker 3: seven three zero four seven four six seven non seven
38:03
Speaker 3: seven John, Thanks a bunch of your time again this week.
38:04
Speaker 2: We appreciate it all right. Thanks, takes care, see you
38:06
Speaker 2: back here next week. That's John for Debt.
38:07
Speaker 3: Fourth Avenue Financial Day Balance coming up next on the
38:10
Speaker 3: Dave Ballens Show, and we'll be back.
38:12
Speaker 2: At noon today with Amanda Baron. On midday I'll be
38:14
Speaker 2: back at three or six with Dave Weekly. Have a
38:16
Speaker 2: great day. Everyone listening to five eight w c HS,
38:18
Speaker 2: the Voice of Charleston.
38:23
Speaker 8: Find AWHSAM ninety six point five at them Charleston one
38:26
Speaker 8: oh four point five Cross Lane WVRC Media Station. We
38:32
Speaker 8: are proud to live here too,