Latest / WCHS Network Podcasts / 01/20/2025 Retire Right Radio with John Burdette

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01/20/2025 Retire Right Radio with John Burdette · WCHS Network Podcasts

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  Speaker 1: Unlock your dream property with Meeks Realty Group, where Rich
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  Speaker 1: the realtor makes real estate dreams a reality, whether it's
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  Speaker 1: residential or commercial. We've got Charleston to Huntington covered. Your
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  Speaker 1: key to exceptional real estate experience is start here Meeks Realtygroup.
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  Speaker 1: Contact us at Meeks dot us.
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  Speaker 2: The views and opinions expressed on this program do not
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  Speaker 2: necessarily reflect the views and opinions of five eight WCCHS,
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  Speaker 2: its employees or WVRC Media. This is retire Right Radio,
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  Speaker 2: a weekly show from John Verdet at Fourth Avenue Financial
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  Speaker 2: that aims to answer your questions about financial planning, investing,
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  Speaker 2: and how to retire right. Fourth Avenue Financial is located
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  Speaker 2: in downtown Charleston at one seventy Court Street. More information
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  Speaker 2: online at Fourth Avenue Financial dot com. Join the conversation
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  Speaker 2: by calling three oh four three four five fifty eight
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  Speaker 2: fifty eight or text three oh four nine three five
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  Speaker 2: fifty oh eight. On retire Right Radio, Let's go live
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  Speaker 2: to the studio with host Dale Cooper and John Vert
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  Speaker 2: That from Fourth Avenue Financial, Nation.
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  Speaker 3: And for us.
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  Speaker 4: Good morning to you. You're listening to retire Right Radio
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  Speaker 4: Monday morning. It is a live program we are on
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  Speaker 4: the what is today the twenty the twentieth, right, the
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  Speaker 4: twentieth of January of twenty twenty five. It is cold
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  Speaker 4: this morning. It is very cold I think ten degrees
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  Speaker 4: or something like that in the car when I got
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  Speaker 4: out this morning, and it only got colder on the
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  Speaker 4: way to work, I think because of wind, wind chill
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  Speaker 4: or something like that. Anyway, if you're heading in this morning,
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  Speaker 4: the roads aren't terrible. There's probably gonna be ic in
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  Speaker 4: places because it's so cold, the main roads are pretty
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  Speaker 4: much clear, other than being covered with ice in places,
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  Speaker 4: side roads or what you would expect. But anyway, if
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  Speaker 4: you're coming in this morning, give yourself plenty of extra
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  Speaker 4: time to get into work and you should be okay
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  Speaker 4: in rolling into work this morning. It's just cold out
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  Speaker 4: more than anything else. It's uh, it's not great. I
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  Speaker 4: I finally, John Bredad is here from Fourth Avenue Financial.
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  Speaker 4: You can give us a call this morning. Three zer
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  Speaker 4: a fourth three four two eight one three one threes
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  Speaker 4: are a fourth three four two eight one three one.
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  Speaker 4: You can find out more information online Fourth Avenue Financial
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  Speaker 4: dot com. Fourth Avenue Financial dot com. For years since
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  Speaker 4: I've moved back to West Virginia. I think only the
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  Speaker 4: first couple of years we came here did we have
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  Speaker 4: a significant winter.
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  Speaker 3: And I felt like that I.
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  Speaker 4: Was the the the decades of experience I had living
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  Speaker 4: in Michigan carried carried forward. You know, when I first
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  Speaker 4: moved back to West Virginia, it's been so mild for
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  Speaker 4: the most part for winters here. Honestly, last week I
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  Speaker 4: kind of forgot what I was doing. I lost the
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  Speaker 4: plot a little bit. I didn't prep for the snow
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  Speaker 4: all that well. I didn't get my car. You know,
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  Speaker 4: I don't have a garage, so which I didn't in
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  Speaker 4: Michigan either, so I know the process to get ready
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  Speaker 4: for the next day.
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  Speaker 3: Last week I.
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  Speaker 4: Was just like, I, we're not actually going to get
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  Speaker 4: that snow, and then I spent days digging out from it.
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  Speaker 4: Yesterday I got ready, I got my I got my UH.
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  Speaker 4: As soon as the slow snow slowed down some, I
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  Speaker 4: shoveled the sidewalk, I got the cars cleaned off, I
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  Speaker 4: scraped them off, got them ready to go, turned them
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  Speaker 4: around so they were pointing out, got everything ready to go.
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  Speaker 4: This morning felt like I was a little bit more
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  Speaker 4: on top of it. This morning, got to work with
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  Speaker 4: no problem at all, so you can you can plan
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  Speaker 4: for those things. Oh yeah, yeah, like planning for retirement.
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  Speaker 5: Planning for retirement. I've got the shovel in a in
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  Speaker 5: a bucket of salt in the back of my in
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  Speaker 5: the trunk of my car, ready to go.
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  Speaker 3: That's all. That's That's pretty much all you can do
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  Speaker 3: when it comes to this type of year.
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  Speaker 4: But it's a cold morning, but that means that you
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  Speaker 4: could talk about some hot finances if you like, you
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  Speaker 4: to give us a call this morning. Three zero four
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  Speaker 4: one a segway three zero four three four two eight
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  Speaker 4: one three one three four two eight one three one.
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  Speaker 4: So today is Martin Luther King Day. It's also an
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  Speaker 4: inauguration day, so a lot of stuff going on. Uh well,
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  Speaker 4: sort of a lot of stuff going on. There's a
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  Speaker 4: lot of news going on, but the markets are closed today,
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  Speaker 4: so we don't have much to worry about or to
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  Speaker 4: anticipate as far as the market goes.
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  Speaker 3: But here we are.
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  Speaker 4: This is our second show of the of the year.
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  Speaker 4: How are things shaping up so far in twenty twenty five.
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  Speaker 5: Well, last week was a good rebound week. We were
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  Speaker 5: actually down going into last week, and last week we
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  Speaker 5: powered forward, kind of firing on all cylinders. So the
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  Speaker 5: market is now up for the year. Let's see what
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  Speaker 5: we did last week. The Dow is up three point
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  Speaker 5: seven percent last week, so it's up two point two
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  Speaker 5: percent for the year. Now, the Dow and the value
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  Speaker 5: stocks were much longer than the tech stocks last week.
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  Speaker 5: The tech stocks are still up for the year, but
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  Speaker 5: the deal is outperforming. The old boring stocks are ruling
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  Speaker 5: the day right now. Really the whole story is inflation
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  Speaker 5: and interest rates. I mean, it's still the same thing,
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  Speaker 5: you know, interest rates. The tenure Treasury got up to
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  Speaker 5: five percent, which is because of expectations that the Fed
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  Speaker 5: is not going to cut much. The market now as
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  Speaker 5: of Friday, is only pricing in one rate cut for
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  Speaker 5: all of this year, So the expectations went from seven
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  Speaker 5: rate cuts to one, and that was a big adjustment.
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  Speaker 5: So yields rose. Actually, even though even though the Fed
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  Speaker 5: is going to be cutting, the actual market yields rose,
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  Speaker 5: which really spooked stocks a little bit. That's why we
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  Speaker 5: had that brief pullback. Now yields are back down to
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  Speaker 5: four point six and seemed to be heading heading lower
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  Speaker 5: because the inflation numbers came in a little better than expected,
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  Speaker 5: and earnings are still coming in good, so that should
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  Speaker 5: bode well for stocks too. Earnings this year are projected
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  Speaker 5: to be up about between ten and fifteen percent, which
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  Speaker 5: you know, which is a good backdrop if to toe
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  Speaker 5: in stocks when your earnings for rising.
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  Speaker 3: You know, I overheard a conversation the other day.
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  Speaker 4: Somester When I say I overheard a conversation, it's absolutely true,
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  Speaker 4: but it's usually here in the hallways, or you know,
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  Speaker 4: it's somewhere around work or somewhere where I hear folks talking.
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  Speaker 4: And occasionally it's not like I'm a big eavesdropper, But
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  Speaker 4: if people are talking about like things that we talk
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  Speaker 4: about or whatever, I don't always butt into the conversation
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  Speaker 4: like how are they approaching this or what are they
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  Speaker 4: talking about? So I overheard a conversation the other day
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  Speaker 4: that was talking about how things have been so bad
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  Speaker 4: the last four years. They were really looking forward to
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  Speaker 4: the economy taking off after the inauguration and after new
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  Speaker 4: policies and stuff.
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  Speaker 3: Got put in.
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  Speaker 4: I understand sentiment was that things had struggled the last
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  Speaker 4: four years, but when you look at the market growth
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  Speaker 4: and things like this was specifically talking about market and
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  Speaker 4: things like that. That was fine. Really as far as
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  Speaker 4: growth goes, we set in many records and I don't
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  Speaker 4: think you're going to be seen like it seemed like
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  Speaker 4: a doubling of the market or something, because we struggled
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  Speaker 4: so much over the last four years that I find
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  Speaker 4: that suddenly it's like people are thinking that there's going
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  Speaker 4: to be this light switch that comes on and things
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  Speaker 4: are going to get suddenly tons better sentiment might get.
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  Speaker 4: But like as far as the real numbers go, I
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  Speaker 4: don't know that that's possible.
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  Speaker 5: Well, we've had a couple of decent years in a
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  Speaker 5: row in the market, particularly last year more so than
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  Speaker 5: the year before because it was broader. But I think
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  Speaker 5: I think it's about fifty fifty five percent. I believe.
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  Speaker 5: I saw an article that during the Biden administration the
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  Speaker 5: market was up fifty five percent, which is you know,
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  Speaker 5: that's a pretty typical over over that time period. You know,
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  Speaker 5: that's a solid it's about what we see typically solid,
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  Speaker 5: solid return. And there again, you're investing in companies. You're
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  Speaker 5: you're not really investing in politics. You're investing in companies
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  Speaker 5: that are serving earned money, paying out dividends, trying to
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  Speaker 5: grow their businesses and and they're going to be doing
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  Speaker 5: that no matter who's in charge, and historically it tends
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  Speaker 5: to it tends to work out. Now, sentiment is a
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  Speaker 5: big factor in particularly short term moves of the market.
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  Speaker 5: You know, people feel good about the direction. You know,
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  Speaker 5: if you've ever heard the expression unleashing the animal spirits,
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  Speaker 5: and there's something to that. I mean, if people feel
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  Speaker 5: like things are going to be better, then they may
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  Speaker 5: take actions that actually make things better.
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  Speaker 3: Ye, it's like the placebo effect. People.
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  Speaker 4: People sometimes a mistake in the Pallacibo effect saying it's fake.
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  Speaker 4: The Pasibo effect is not fake. It actually works. It's
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  Speaker 4: just it's not a medicinal related effect, and it's within range,
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  Speaker 4: so people can sort of trick themselves into having better sentiment.
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  Speaker 5: Yeah, and you know, if you're if you're if you
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  Speaker 5: feel like things are in a funk, you're not going
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  Speaker 5: to be very risk taking and trying to put things
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  Speaker 5: out there to grow. You're going to be in the
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  Speaker 5: protection mode. And so that attitude shift could be real. Now,
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  Speaker 5: the thing about that is, you know, roughly half the
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  Speaker 5: country doesn't think that, so so we'll see how it
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  Speaker 5: all plays out. I mean, it's all going to come
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  Speaker 5: down to over the long term, over the next four years,
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  Speaker 5: it's going to come down their earnings. You know what
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  Speaker 5: is happening with earnings and all these policies that are
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  Speaker 5: talked about. Okay, that's fine, but how does it play
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  Speaker 5: out in the earnings of companies because that's what you're
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  Speaker 5: buying when you buy stocks.
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  Speaker 4: Yeah, yeah, And much of what we talk about and
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  Speaker 4: what you do as a process or in your business,
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  Speaker 4: all of this other stuff we talk about. I think
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  Speaker 4: it is something to talk about, but that doesn't really
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  Speaker 4: affect regardless of what any of this stuff lands on.
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  Speaker 4: As far as your job goes, you do your job
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  Speaker 4: and kind of filter through to instruct a client. But
• 8:53
  Speaker 4: as far as the strategies that are involved and saving
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  Speaker 4: for retirement and planning for retirement, diversification whatever that might mean,
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  Speaker 4: whatever that might mean, or anything else, this strategy doesn't
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  Speaker 4: really change. Maybe the details of the strategy does, but broadly,
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  Speaker 4: you just got to do what you do and do
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  Speaker 4: the work and you can you can retire, right, Yeah, no.
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  Speaker 5: Doubt about it. I mean the you know, you have
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  Speaker 5: to look at your individual situation and figure out, Okay,
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  Speaker 5: what what am I trying to accomplish and then use
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  Speaker 5: the right investment tools and the right mix to do
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  Speaker 5: that in the most you know, likely way of happening.
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  Speaker 5: And uh, and that's has to be done no matter
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  Speaker 5: who the president is or who is in charge of Congress.
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  Speaker 2: Uh.
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  Speaker 5: You know, when you retire, even there are going to
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  Speaker 5: be four or five presidents during your retirement, are you
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  Speaker 5: going to switch your allocations up every time there's an election.
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  Speaker 5: That doesn't That doesn't make a whole lot of sense,
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  Speaker 5: you know. Uh, you know McDonald's has been serving cheeseburgers
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  Speaker 5: through a lot of different administrations and earning money and
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  Speaker 5: and those things generally are going to continue. You you know,
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  Speaker 5: policies do matter over time, but companies also adjust. And
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  Speaker 5: I think that is one of the just human nature
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  Speaker 5: type faults is that you think about, well, if this happens,
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  Speaker 5: then this action is going this is going to be
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  Speaker 5: the result of that action. Well, it's not that black
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  Speaker 5: and white, because then you also have if this happens,
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  Speaker 5: that happens, well, then people respond to that and it
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  Speaker 5: might mitigate a negative reaction or it might you know,
• 10:40
  Speaker 5: increase the benefit of that action. You know, That's why
• 10:45
  Speaker 5: the market is so hard to predict. There are so
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  Speaker 5: many variables. What you almost have to keep in the
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  Speaker 5: back of your mind as your belief is that you know,
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  Speaker 5: these companies are going to try to serve their shareholders
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  Speaker 5: and their customers regardless, and if they do that successfully,
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  Speaker 5: the owners of the company, you and me, the stockholders,
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  Speaker 5: will benefit from that. And it's hard to because you're
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  Speaker 5: separating yourself so many levels, it feels like from the
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  Speaker 5: actual news that's happening. But you know, history shows that's
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  Speaker 5: a pretty good way to think about it.
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  Speaker 4: And I mean you have I mean literally decades and
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  Speaker 4: decades and decades at data.
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  Speaker 3: When it comes to something like that, you know that
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  Speaker 3: it's true.
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  Speaker 4: I mean, you know that it's true, and it just
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  Speaker 4: takes a little bit of introspecting and introspection and vision
• 11:34
  Speaker 4: and adherents. I was listening to it was a weight
• 11:37
  Speaker 4: loss guy who was talking about his different weight loss
• 11:40
  Speaker 4: and stuff. And I find some of this stuff interesting
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  Speaker 4: because I lost a ton of weight and I like
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  Speaker 4: to hear about what other people. But his strategy was basically,
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  Speaker 4: you know, there's no magic bullet. You have to just
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  Speaker 4: do the work, and you do the work all the
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  Speaker 4: time and it's really a lifestyle change more than it
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  Speaker 4: is anything else. There's no diet you go on. You
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  Speaker 4: can't suddenly have a magic bullet or anything else. And
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  Speaker 4: planning for retirement's a lot the same way. There's generally speaking,
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  Speaker 4: people can come into windfalls or something can happen, But
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  Speaker 4: generally speaking, if you're just doing the work all the time,
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  Speaker 4: just like if you're watching what you eat and you
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  Speaker 4: get up and you do exercises and and you're doing
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  Speaker 4: the things you need to take care of your body.
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  Speaker 4: If you're doing that same thing with your retirement, you're
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  Speaker 4: you're putting money away where you're supposed to, You're cutting
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  Speaker 4: costs were you're supposed to, not going into debt, things
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  Speaker 4: like that. You're going to be healthy in retirement, just
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  Speaker 4: like you're gonna be healthy in your body. It's just
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  Speaker 4: the discipline that you need to to enact the plan.
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  Speaker 5: It's it's really all about discipline. If you if you
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  Speaker 5: use prudence strategies as far as sure, yeah.
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  Speaker 3: Right, right, you'll be disciplined. The bad strategy, yes.
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  Speaker 5: Yeah, you you can be disciplined, but but you know,
• 12:35
  Speaker 5: put it all on red and and that's not not
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  Speaker 5: necessarily the right thing to do. But but if you
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  Speaker 5: have a sound strategy and discipline, you know, that's what
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  Speaker 5: builds wealth, you know, serving people yourself, earning money, living
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  Speaker 5: below your means, creating investment and savings, and then duplicating
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  Speaker 5: that process year after year after year. If you do that,
• 12:58
  Speaker 5: you know, even if your an investment returns are are
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  Speaker 5: just average, you're going to accumulate wealth. And it's inevitable.
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  Speaker 4: And some of the things that you say, and people
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  Speaker 4: need to realize that in uh, in real life terms.
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  Speaker 4: I mean, there's things that you can do when you
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  Speaker 4: say living below your means, there's a lot of different
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  Speaker 4: ways that you can live below your means, whether it
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  Speaker 4: be you know, you on a small level, you can
• 13:20
  Speaker 4: switch your brands of coffee, you know, or so you
• 13:21
  Speaker 4: know what I mean, instead of getting the gourmet coffee,
• 13:23
  Speaker 4: you get the normal over the com I mean, if
• 13:25
  Speaker 4: you make enough small changes like that that you're doing
• 13:28
  Speaker 4: over the course of your of the your budgeting your life,
• 13:30
  Speaker 4: suddenly you're saving you know, a couple hundred dollars a month,
• 13:32
  Speaker 4: and that's a couple thousand dollars a year. Then you
• 13:34
  Speaker 4: find other ways that you're saving money, and before you know,
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  Speaker 4: it once you once you uh install those disciplines in yourself,
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  Speaker 4: and you're always looking for those ways to live below
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  Speaker 4: your means.
• 13:43
  Speaker 3: It's like it reveals a whole new world to you.
• 13:45
  Speaker 5: But but the and the solution is never living above
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  Speaker 5: your means. If you don't like where you are, the
• 13:52
  Speaker 5: solution is figure out how to serve at a higher level,
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  Speaker 5: earn more money. If if if you if you don't
• 13:59
  Speaker 5: like the station you're at, and so investing in yourself
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  Speaker 5: and you know, getting the skill skills that are valuable
• 14:08
  Speaker 5: in the marketplace. I mean, that's your best investment. And
• 14:13
  Speaker 5: you know, for young folks out there listening, I mean
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  Speaker 5: that is the key. How are you going to be
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  Speaker 5: beneficial to other people? Because that's how you're going to
• 14:20
  Speaker 5: earn your income, be valuable to someone else in the marketplace,
• 14:25
  Speaker 5: whatever that may be. And the better you are at that,
• 14:29
  Speaker 5: the more earnings you have. And and then you know,
• 14:33
  Speaker 5: living below your means can be maybe more comfortable or
• 14:37
  Speaker 5: what you have in mind. But regardless of how much
• 14:41
  Speaker 5: money you make, if it's ten thousand, one hundred thousand,
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  Speaker 5: or a million dollars a year, if you do not
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  Speaker 5: follow the rules of living below your means you will
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  Speaker 5: not accumulate wealth even if you earn a million dollars.
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  Speaker 5: I mean, you can see that all around you in
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  Speaker 5: the news when when you know support stars and movie
• 15:01
  Speaker 5: stars file bankruptcy, Yeah they didn't live below their means.
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  Speaker 5: Even though their means were great. They still live beyond
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  Speaker 5: their means. And the math works the same, it just
• 15:12
  Speaker 5: has an extra zero on the end.
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  Speaker 4: And one of the things that I've observed before completely observationally,
• 15:16
  Speaker 4: but I understand the sentiment and it makes sense. But
• 15:20
  Speaker 4: I think more people need to be aware that they
• 15:22
  Speaker 4: could potentially fall into this pit trap. But you know,
• 15:24
  Speaker 4: we when we talk about staying within discipline and making
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  Speaker 4: sure you're living within your means and things like that,
• 15:30
  Speaker 4: sometimes we're used to the pressures on the outside world.
• 15:32
  Speaker 3: So you know, if.
• 15:35
  Speaker 4: Somebody's advertising to you, a credit card company is advertising
• 15:38
  Speaker 4: to you on TV that you should go on vacation,
• 15:40
  Speaker 4: we might be like, no, I'm not going to do that.
• 15:42
  Speaker 4: You know, you're not going to trick me that way.
• 15:43
  Speaker 4: You know, I'm not your guy when it comes to that. However,
• 15:46
  Speaker 4: if you have a family member who's going on vacation
• 15:49
  Speaker 4: and invites you to come, Hey, why don't you come
• 15:51
  Speaker 4: down to this vacation. You can come stay here next
• 15:54
  Speaker 4: to us, YadA YadA. They're not offering to pay, they're
• 15:56
  Speaker 4: just offering you to go on vacation. They can asymmetrically
• 16:00
  Speaker 4: in your family, they can live in those means, but
• 16:02
  Speaker 4: maybe you don't necessarily live that lifestyle that you could
• 16:05
  Speaker 4: feel like because the rest of the family's going to
• 16:07
  Speaker 4: be there, or it's there's gonna be a bunch of
• 16:08
  Speaker 4: people that you have to go and they live a lifestyle.
• 16:12
  Speaker 4: They go, they eat out all the time, they do
• 16:13
  Speaker 4: whatever it might be. They live a lifestyle that you
• 16:15
  Speaker 4: that you can't afford, but you feel like that you
• 16:17
  Speaker 4: have to mimic that because it's your family or whatever else.
• 16:20
  Speaker 4: I find that those situations because maybe be some of
• 16:22
  Speaker 4: the more difficult ones to stay disciplined within, because you
• 16:24
  Speaker 4: don't want to like not have fellowship with your friend unit,
• 16:28
  Speaker 4: your family unit, whoever it might be. But you have
• 16:29
  Speaker 4: to be disciplined within your own life. You can't live
• 16:32
  Speaker 4: like they do if they live a lifestyle that's different
• 16:35
  Speaker 4: than yours.
• 16:35
  Speaker 5: Yeah, that is a that is a big risk, even
• 16:39
  Speaker 5: for young folks out there. Hey, let's uh, we're going
• 16:42
  Speaker 5: to run up to Columbus to see the concert this weekend, right, yes,
• 16:45
  Speaker 5: and come on with us. Well we already have the room. Well,
• 16:50
  Speaker 5: that still creates lots of expenses, right, you know, even
• 16:53
  Speaker 5: things like that, those little things add up. Uh. But
• 16:56
  Speaker 5: more often than not, I find that that it's the
• 16:59
  Speaker 5: small all things that are routines. You know, I get
• 17:03
  Speaker 5: the six dollars coffee instead of making it myself. And oftentimes,
• 17:10
  Speaker 5: you know, folks that have those habits you start talking about, Hey,
• 17:14
  Speaker 5: you know, let's save ten percent of your salary and
• 17:16
  Speaker 5: your four oh one k. Well, I can't afford to
• 17:18
  Speaker 5: do that. Well, you can't afford to do it, but
• 17:21
  Speaker 5: you've chosen not to do it, right. That's kind of
• 17:23
  Speaker 5: tough love, But that's the fact. If you're spending money
• 17:27
  Speaker 5: on those type of things, you've chosen to do those
• 17:30
  Speaker 5: other things. Hey, it's your money. You can choose to
• 17:32
  Speaker 5: do what you want. But at the end, don't complain
• 17:35
  Speaker 5: that I don't have any money to retire because you
• 17:38
  Speaker 5: made that decision. Yeah, if someone might have not knowingly
• 17:40
  Speaker 5: made that decision, but you made the decision.
• 17:42
  Speaker 4: If somebody looked at my budget and if I claimed, hey,
• 17:44
  Speaker 4: I don't have five hundred extra dollars a month to
• 17:47
  Speaker 4: do anything with. And somebody looked at my budget and
• 17:49
  Speaker 4: they're like, well, take a look at these subscriptions you
• 17:52
  Speaker 4: barely use for any of your services. How many times
• 17:55
  Speaker 4: you went out to eat? Look at this coffee that
• 17:56
  Speaker 4: you got. I mean, there's definitely five hundred dollars in
• 17:59
  Speaker 4: my budget somewhere that I don't actually have to commit
• 18:01
  Speaker 4: to the things I do. Sure, and I think a
• 18:03
  Speaker 4: lot of people could probably find those. Whatever way that
• 18:05
  Speaker 4: it gets shaken out, you just have to be honest
• 18:07
  Speaker 4: with yourself, you know, you know, maybe maybe, and you know,
• 18:12
  Speaker 4: if you decide to service yourself that extra coffee, you
• 18:14
  Speaker 4: know that that special coffee blend or whatever. I mean,
• 18:16
  Speaker 4: I guess that's your choice. But just don't complain that
• 18:19
  Speaker 4: you don't. You can't save any money, you.
• 18:21
  Speaker 5: Know, right, I mean, it all comes down to uh
• 18:24
  Speaker 5: to choices.
• 18:25
  Speaker 4: For sure, Let's do this. Let's go ahead and take
• 18:27
  Speaker 4: a break. We still have plenty of time to for
• 18:29
  Speaker 4: you to direct the conversation if you want to do
• 18:30
  Speaker 4: that when we come back. You're more than welcome through
• 18:32
  Speaker 4: John Bredeta's here for Fourth Avenue Financial helping you retire Right.
• 18:35
  Speaker 4: You could get involved with the conversation this morning, give
• 18:38
  Speaker 4: us a call three zero four three four two eight
• 18:40
  Speaker 4: one three one three zero four three four two eight
• 18:42
  Speaker 4: one three one, and you can also text over your
• 18:43
  Speaker 4: questions to three zer a four non three five five
• 18:45
  Speaker 4: zero zero eight three zer a four non three five
• 18:48
  Speaker 4: five zero zero eight. Fourth Avenue Financial is located downtown
• 18:50
  Speaker 4: charleson Fourth Avenue Financial dot com. You spell out the
• 18:53
  Speaker 4: whole thing Fourth Avenue Financial dot com. Also on Facebook,
• 18:55
  Speaker 4: you spell that out. You might want to like that page.
• 18:57
  Speaker 4: We want to talk to John about his Saturday meeting
• 18:58
  Speaker 4: that he had when we came back. That was this
• 19:00
  Speaker 4: past weekend. We're going to find out more about that
• 19:02
  Speaker 4: and when the next one may be coming down the line.
• 19:04
  Speaker 4: You're listening to retire Right Ready with John Bredett from
• 19:07
  Speaker 4: Fourth Avenue Financial. I'm del Cooper. This is five E ADWCHS,
• 19:10
  Speaker 4: the voice of Charleston. Retire Right Radio is sponsored by
• 19:12
  Speaker 4: Fourth Avenue Financial, which is solely responsible for its content.
• 19:15
  Speaker 4: Security is offered through JW CALL Financial member Fenracipic Investment
• 19:19
  Speaker 4: advice offered through JW CO Advisors, Fourth Avenue Financial, jw
• 19:22
  Speaker 4: CLL Financial and JW CO advisors are unaffiliated entities. The
• 19:25
  Speaker 4: opinions expressed by John Bredett should not be construed as
• 19:28
  Speaker 4: specific investment, legal or tax advice. All economic and performance
• 19:31
  Speaker 4: information is historical and not indicative of future results. Investing
• 19:35
  Speaker 4: may involve risk of loss of principle. Any tax advice
• 19:38
  Speaker 4: on this show is not intended to be used by
• 19:39
  Speaker 4: any person for the purpose of avoiding US federal or
• 19:42
  Speaker 4: state tax penalties that may be imposed on such a person,
• 19:45
  Speaker 4: and each listener should seek advice from their tax advisor
• 19:48
  Speaker 4: or legal console on topics that arise from the show.
• 19:51
  Speaker 4: John Burdett is not providing legal or tax advice. Nothing
• 19:54
  Speaker 4: should be construed as solicitation of an offer to buy securities.
• 19:57
  Speaker 4: This program is sponsored by Fourth Avenue Financial, which is
• 19:59
  Speaker 4: so responsible for its content.
• 20:02
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• 21:01
  Speaker 7: At Peyton Law Firm, we fight for every bit of
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• 21:32
  Speaker 7: This is retire Rife Radio with John Burdett from Fourth
• 21:36
  Speaker 7: Avenue Financial, taking your calls at three oh four three
• 21:39
  Speaker 7: four five fifty eight fifty eight or texts on three
• 21:43
  Speaker 7: oh four nine three five fifty oh eight.
• 21:49
  Speaker 4: You're listening to retire Right Radio. Good Morning is Monday
• 21:51
  Speaker 4: morning to twentieth of January. John Burdette is here from
• 21:53
  Speaker 4: fourth Avenue Financial. You're welcome to give us a call
• 21:55
  Speaker 4: three zero four three four two eight one three one
• 21:57
  Speaker 4: three four two eight one three one. Give us a
• 21:59
  Speaker 4: call this morning if want to talk to John about
• 22:00
  Speaker 4: anything about how you can retire right. Lots of stuff
• 22:03
  Speaker 4: that's going on in the in the retirement space on
• 22:06
  Speaker 4: things like that, and there's nothing really worth talking about
• 22:09
  Speaker 4: because it's all like kind of pining the sky stuff.
• 22:11
  Speaker 3: But there was.
• 22:13
  Speaker 4: Some potential movements for the incoming Trump administration when it
• 22:17
  Speaker 4: comes to different things with h I mean there the
• 22:21
  Speaker 4: memo that that was released or that that was found
• 22:23
  Speaker 4: out covered all kinds of things. But there's a lot
• 22:25
  Speaker 4: of stuff in the financial sector. But again that's something
• 22:28
  Speaker 4: that that there could be changes. There's always some sort
• 22:31
  Speaker 4: of changes behind the scenes somewhere and things might get
• 22:34
  Speaker 4: This is where you might get stuff in the headlines
• 22:36
  Speaker 4: that you just need to be careful of I mean,
• 22:37
  Speaker 4: we talked about that a little bit already, But just
• 22:39
  Speaker 4: because somebody is trying to gin up a little bit
• 22:42
  Speaker 4: of panach or even gin up over optimism, whatever it
• 22:45
  Speaker 4: might be, you just got to hold your powder a
• 22:46
  Speaker 4: little bit, you know, don't do anything too crazy over
• 22:49
  Speaker 4: news headlines or something like that.
• 22:51
  Speaker 5: Yeah, and certainly over the next few months, they're gonna
• 22:54
  Speaker 5: be a there's gonna be a flurry of executive orders
• 22:57
  Speaker 5: things like that that are coming down and we'll see
• 22:59
  Speaker 5: how those play out. You know, most major things require
• 23:04
  Speaker 5: legislation still hopefully, and you know, so some of those
• 23:11
  Speaker 5: things take a little longer to to play itself out.
• 23:15
  Speaker 5: But you know, you're going to see a lot of headlines,
• 23:17
  Speaker 5: You're going to see a lot of noise. You're going
• 23:19
  Speaker 5: to see a lot of folks, you know, write fear
• 23:23
  Speaker 5: and panic stories. And but remember when you're investing, you're
• 23:27
  Speaker 5: investing for the long term, and you're investing in companies
• 23:31
  Speaker 5: that are doing their best under any environment to be profitable,
• 23:36
  Speaker 5: and just focus on that and and let these things
• 23:38
  Speaker 5: play out. You know, policies happen, and they come and go.
• 23:43
  Speaker 5: If they're great policies wonderful. If they're not great policies,
• 23:49
  Speaker 5: eventually the pendulum will swing and those policies change. That's
• 23:54
  Speaker 5: one of the good things about our system. It tends
• 23:57
  Speaker 5: to be a pendulum. The swings back and forth.
• 24:00
  Speaker 4: And if you're somebody out there that again, this is
• 24:03
  Speaker 4: whatever environment is that we're in. There's tools that are
• 24:05
  Speaker 4: out there that are available to help people in retirement
• 24:07
  Speaker 4: that it can help them retire, right, those are generally
• 24:10
  Speaker 4: accessible to most people, and those are why using John
• 24:13
  Speaker 4: Berdad and putting an expert on your side on something
• 24:15
  Speaker 4: like this really matters. If you're somebody that works in
• 24:17
  Speaker 4: and we've talked about this before, but there's so many
• 24:19
  Speaker 4: people now that fracture their working lives in the gig environment.
• 24:23
  Speaker 4: You know, they don't have like a full time corporate job,
• 24:25
  Speaker 4: but they work all kinds of different things where they
• 24:29
  Speaker 4: make their money and support their family or themselves or
• 24:31
  Speaker 4: whatever it might be with that. And that's a perfectly
• 24:34
  Speaker 4: fine way to go about living and a way to
• 24:35
  Speaker 4: make your life. But you may not have some of
• 24:37
  Speaker 4: those some of the obvious help from your employer and
• 24:41
  Speaker 4: things like that that you might have normally if you
• 24:43
  Speaker 4: worked at a job where you had a forty hour
• 24:45
  Speaker 4: week salary and stuff like that. That doesn't mean that
• 24:47
  Speaker 4: the options to save for retirement's not open to you.
• 24:49
  Speaker 4: You just might have to do a little extra work
• 24:51
  Speaker 4: to put those things together. And that's where somebody like
• 24:53
  Speaker 4: John can really come in, can really come to advantage
• 24:56
  Speaker 4: that because if your work doesn't offer a four one
• 24:57
  Speaker 4: K you know, if you drive uber or something, it
• 24:59
  Speaker 4: probably doesn't have a four one option for you. You know,
• 25:01
  Speaker 4: does that mean you can't save money. No, that doesn't
• 25:03
  Speaker 4: mean you can't save money. You just have to look
• 25:05
  Speaker 4: at the other options. And there's plenty of options out
• 25:07
  Speaker 4: there for you. And even if you're if you're not
• 25:09
  Speaker 4: one of these, maybe you're not happy with the with
• 25:11
  Speaker 4: the benefits that your employee offers you, then it's not
• 25:13
  Speaker 4: robust enough. Whatever it might be, there's a place for you.
• 25:16
  Speaker 4: You have access to those plans, you just need somebody
• 25:18
  Speaker 4: to help you find them.
• 25:20
  Speaker 5: Yes, and and the good news is that your outcome,
• 25:22
  Speaker 5: long term outcome, is largely under your control. You just
• 25:26
  Speaker 5: have to make those steps and and and get started
• 25:29
  Speaker 5: and and get good advice. You know, there are sources
• 25:33
  Speaker 5: of advice out there that are not so hot, plenty
• 25:38
  Speaker 5: of them.
• 25:39
  Speaker 3: And you know.
• 25:41
  Speaker 5: Internet uh uh, you know memes and and and uh.
• 25:46
  Speaker 5: You know people on the internet selling, you know, trying
• 25:49
  Speaker 5: to sell you courses that aren't they're not They have
• 25:53
  Speaker 5: no experience really or or or licensing or education around
• 25:59
  Speaker 5: what they're the courses they're baking up and selling. They're
• 26:02
  Speaker 5: making it sound good and selling courses. You know, there's
• 26:05
  Speaker 5: all kinds of stuff like that on the internet. You
• 26:07
  Speaker 5: can get sucked into. The reality is it's it's there
• 26:12
  Speaker 5: isn't a magic bullet. Everybody's looking for a magic bullet.
• 26:16
  Speaker 5: And and you know, it takes a little bit of
• 26:18
  Speaker 5: effort to get going. Now, once you get going, it
• 26:21
  Speaker 5: gets easier and easier because when you start out, when
• 26:25
  Speaker 5: you start out investing in saving, you have to do
• 26:28
  Speaker 5: all the work. You've got to actually put the money
• 26:31
  Speaker 5: in out of your paycheck and to get that ball rolling.
• 26:35
  Speaker 5: But once it gets rolling, the investment itself, the math
• 26:39
  Speaker 5: takes over and it does a lot of the work
• 26:42
  Speaker 5: and most of the work eventually to the point where
• 26:46
  Speaker 5: you know it has a life of its own. You know,
• 26:50
  Speaker 5: you get it, you get it built to a certain
• 26:52
  Speaker 5: point and it just will automatically roll for you, and
• 26:58
  Speaker 5: you know, it might take ten years of work before
• 27:00
  Speaker 5: that happens, or fifteen years of work before you start
• 27:03
  Speaker 5: noticing that happening. But if you never put that work in,
• 27:06
  Speaker 5: you'll never get to that point. And that's the beauty
• 27:09
  Speaker 5: of youth. You've got the years to do that. And
• 27:14
  Speaker 5: then the math takes over and it's incredible. You know,
• 27:19
  Speaker 5: a twenty five year old starting out doing the right thing,
• 27:22
  Speaker 5: we'll never have to worry about retirement because the way
• 27:25
  Speaker 5: it's just simple math, the way the compounding works.
• 27:29
  Speaker 4: I definitely haven't done things the right thing throughout my life,
• 27:32
  Speaker 4: but the one thing that I have done right before
• 27:34
  Speaker 4: was the debt snowball when I paid all that off.
• 27:36
  Speaker 4: And I've talked about that before and earlier in this episode,
• 27:39
  Speaker 4: I was sort of relating sort of that feeling you
• 27:42
  Speaker 4: get to weight loss, and it really is a very
• 27:45
  Speaker 4: similar kind of experience because it's when you see, like
• 27:49
  Speaker 4: for me, I think that the first thing I paid
• 27:50
  Speaker 4: off is I ended up paying off my car payment. Yeah,
• 27:54
  Speaker 4: nine months earlier or something like, I can't even remember,
• 27:56
  Speaker 4: it wasn't even all that early. But when that payment
• 27:58
  Speaker 4: of two hundred and seventy dollars or whatever it is
• 28:01
  Speaker 4: way back in olden day money. Whenever, when that payment
• 28:04
  Speaker 4: disappeared and I no longer had to pay it, it
• 28:07
  Speaker 4: was like, wow, now I have this money, and I
• 28:09
  Speaker 4: was disciplined enough. Then I had a credit card that
• 28:11
  Speaker 4: was like a couple thousand dollars. Well that two hundred
• 28:13
  Speaker 4: and fifty dollars extra over the course, I mean, I've
• 28:16
  Speaker 4: got that next credit card paid off in just a
• 28:18
  Speaker 4: couple of months. You know, it was no problem. I
• 28:19
  Speaker 4: took all that principal turned around on that. Then that
• 28:21
  Speaker 4: one went away, and now that was an eighty six
• 28:23
  Speaker 4: dollars a month payment plus a two hundred and fifty
• 28:25
  Speaker 4: dollars a month payment I didn't have to make, so
• 28:26
  Speaker 4: that I had three hundred dollars a month that I
• 28:28
  Speaker 4: could play with and I paid something, and I just
• 28:30
  Speaker 4: saw it. And once you did it and you saw
• 28:31
  Speaker 4: the success, it was just all downhill from there. It
• 28:34
  Speaker 4: really was a snowball, because not only did you see
• 28:36
  Speaker 4: this success, it became a game. It's like, well, it's
• 28:38
  Speaker 4: like you're a sniper out there. What one can I
• 28:40
  Speaker 4: take out?
• 28:40
  Speaker 3: Next? One can I take out next? Well?
• 28:42
  Speaker 5: It feels good, And the fact is that that you
• 28:45
  Speaker 5: were paying those off, you know, to get in that situation,
• 28:48
  Speaker 5: you were living above your means, you know, correct, the
• 28:51
  Speaker 5: credit card debt is like the you know, that's everybody,
• 28:56
  Speaker 5: I've got problems. I've got a credit card debt. Well,
• 28:58
  Speaker 5: the credit card debt is the symptom of the problem
• 29:01
  Speaker 5: of living beyond your means. You've borrowed tomorrow's money to
• 29:05
  Speaker 5: live today, and so that is the problem. You know,
• 29:10
  Speaker 5: a lot of times you'll get folks coming in and say,
• 29:12
  Speaker 5: should I borrow against this house to pay off my
• 29:14
  Speaker 5: credit cards? Or should I do this? And the answer
• 29:17
  Speaker 5: is no, don't do those things until you solve the
• 29:20
  Speaker 5: first problem, right, oh yeah, otherwise you get right back
• 29:23
  Speaker 5: into that situation.
• 29:24
  Speaker 3: Oh I've seen that before. Yeah.
• 29:25
  Speaker 2: And so.
• 29:28
  Speaker 5: You know, the fact that you can pay them off,
• 29:30
  Speaker 5: then that tells you you've solved your budget. You know,
• 29:33
  Speaker 5: you've corrected your budget to where now you're creating savings
• 29:36
  Speaker 5: and investment. Initially, it's not going to investments, it's going
• 29:41
  Speaker 5: to pay off the debt first. But you're creating that
• 29:44
  Speaker 5: cash flow that is required to build wealth over time.
• 29:48
  Speaker 5: And so that's a victory. As you're paying those things down,
• 29:51
  Speaker 5: you know that you've corrected the root cause of the problem.
• 29:54
  Speaker 3: And that's super important.
• 29:56
  Speaker 4: And I know, back when I was doing mortgages, we
• 29:57
  Speaker 4: would see somebody who were serial refinanswers that would they
• 30:04
  Speaker 4: had all this equity in their home. Interest rates were
• 30:06
  Speaker 4: super low for the first time in a while. They
• 30:07
  Speaker 4: had thirty thousand dollars of debt of various cons car,
• 30:10
  Speaker 4: credit cards, whatever. They rolled it all over into a refinance,
• 30:13
  Speaker 4: super low rates. You spread it out over thirty years
• 30:15
  Speaker 4: or whatever. Ooh, I'm saving tons of money. Well, you're
• 30:18
  Speaker 4: financing all of that, you know, relatively temporary debt over
• 30:21
  Speaker 4: thirty years now instead of anything that you could have
• 30:23
  Speaker 4: paid off. Sure, it does save you money. There's people
• 30:25
  Speaker 4: that maybe need that to make things work.
• 30:28
  Speaker 3: Who knows.
• 30:28
  Speaker 4: But I saw a guy that did it three or
• 30:31
  Speaker 4: four times over the course of a five year period,
• 30:33
  Speaker 4: tapped out the equity of his house and eventually lost
• 30:35
  Speaker 4: his house because he just lost all of his equity,
• 30:37
  Speaker 4: could no longer make the payments because he kept on
• 30:39
  Speaker 4: just going up and nothing up.
• 30:40
  Speaker 5: You can't do that, right because the root cost of
• 30:43
  Speaker 5: the problem was never addressed.
• 30:44
  Speaker 4: He never did it. Yep, that's absolutely true. One thing
• 30:47
  Speaker 4: I wanted to talk about. We have a few minutes
• 30:48
  Speaker 4: left this morning. John successfully rolled out one of his
• 30:50
  Speaker 4: first Saturday meetings this past Saturday in South Charleston.
• 30:54
  Speaker 3: Tell us a little bit about it and what the
• 30:55
  Speaker 3: future plans are for it.
• 30:57
  Speaker 5: Yeah, it was a great get together. I had some
• 31:00
  Speaker 5: really good questions, a lot of retirement focused questions, and
• 31:06
  Speaker 5: made a few donuts. Nice, always good.
• 31:08
  Speaker 4: I wanted to come over, but my wife had slept
• 31:10
  Speaker 4: in and I was up with my kid, and I
• 31:12
  Speaker 4: just ask he's a lot of energy.
• 31:14
  Speaker 3: I just don't know if that would have worked well
• 31:16
  Speaker 3: in the environment.
• 31:18
  Speaker 5: But but yes, we'll definitely do this regularly. I'll pick
• 31:23
  Speaker 5: a date out coming up in February and we'll do
• 31:27
  Speaker 5: another Saturday morning in February and there again follow our
• 31:31
  Speaker 5: Facebook page so that you'll see it when it comes
• 31:35
  Speaker 5: up when we get that data on the calendar. But yeah,
• 31:39
  Speaker 5: I invite you to come on out when we have
• 31:42
  Speaker 5: these things. It was a great time. It was very
• 31:44
  Speaker 5: low key. There was no agenda as far as as
• 31:48
  Speaker 5: far as my part goes. It's just, hey, what types
• 31:51
  Speaker 5: of things are on your mind, let's talk about them.
• 31:54
  Speaker 5: Had a gentleman there that had a health problem and
• 31:59
  Speaker 5: retired earlier than he had planned to, and had some
• 32:02
  Speaker 5: some questions about how to do things as far as
• 32:06
  Speaker 5: you know, retirement monies rolling into iras, how do you
• 32:10
  Speaker 5: take distributions, how do you pay taxes on those distributions?
• 32:15
  Speaker 5: You know, Uh, just all kinds of questions that he's like,
• 32:19
  Speaker 5: you know, I'm five years earlier than I wanted to
• 32:21
  Speaker 5: be retiring or planned to be retiring. And he hadn't
• 32:25
  Speaker 5: addressed those things yet. I hadn't had figured those things
• 32:27
  Speaker 5: out and it was just kind of thrown in his
• 32:30
  Speaker 5: lap unexpectedly. So we talked a lot about that and uh,
• 32:34
  Speaker 5: hopefully pointing him in the right direction. Had some some
• 32:39
  Speaker 5: other issues that were we had one a little out
• 32:43
  Speaker 5: of the box about trust and insurances and things like that,
• 32:48
  Speaker 5: and uh and and and of course general conversation about
• 32:51
  Speaker 5: the economy and the new administration and what might happen,
• 32:55
  Speaker 5: you know, things that are always one folks mind to
• 32:58
  Speaker 5: talk about. But it it was like I say, no
• 33:01
  Speaker 5: real heart agenda. It was just a time to come
• 33:03
  Speaker 5: and everybody sat around and you know, throw questions out
• 33:08
  Speaker 5: and talk about the things they had on their mind.
• 33:11
  Speaker 4: So many people have different types of comfort level. Some
• 33:13
  Speaker 4: people are fine picking up the phone and talking about
• 33:15
  Speaker 4: their finances whatever it might be, and it's not a
• 33:17
  Speaker 4: big deal. Some people are finding on a one on
• 33:19
  Speaker 4: one office environment. I mean, most of your clients are
• 33:21
  Speaker 4: probably in that area where they come and show up.
• 33:23
  Speaker 4: But some people might be like the having the people
• 33:28
  Speaker 4: with them, you know, be to talk kind of in
• 33:29
  Speaker 4: an open forum and not feel like that they're on
• 33:31
  Speaker 4: the spot or whatever it might be. Have a little
• 33:33
  Speaker 4: bit more of an informal discussion and stuff like that.
• 33:35
  Speaker 4: It's a great opportunity to access information in that way.
• 33:37
  Speaker 4: If maybe you're a little bit more hesitant to talk
• 33:39
  Speaker 4: about your stuff in public, or you're a private individual
• 33:42
  Speaker 4: or whatever it might be. You know, talking about things
• 33:44
  Speaker 4: in that kind of situation where it's a little bit
• 33:46
  Speaker 4: more from the abstract that helps out sometimes.
• 33:48
  Speaker 3: Right.
• 33:49
  Speaker 5: You know, this was not a financial planning session for anybody.
• 33:52
  Speaker 5: This simply was, Hey, let's talk about money, Let's talk
• 33:56
  Speaker 5: about things that are on your mind.
• 33:57
  Speaker 3: Hey, if aliens invade, what's going to happen when I invested?
• 34:01
  Speaker 5: We didn't We didn't quite cover that one, but but
• 34:04
  Speaker 5: you never know.
• 34:05
  Speaker 4: Yeah, I'm not not serious, but I mean this you
• 34:07
  Speaker 4: can ask questions about like, hey, what's happening, and you
• 34:09
  Speaker 4: know you can and it doesn't have to be under
• 34:11
  Speaker 4: such a strict environment where you're worried about what your
• 34:14
  Speaker 4: question or answer might mean. You're just trying to find
• 34:16
  Speaker 4: out information.
• 34:17
  Speaker 5: Yeah, you know, set around, eat if you've donuts, have
• 34:19
  Speaker 5: some coffee, and and you know, people share experiences with
• 34:24
  Speaker 5: one another. You know, there was a fellow there that
• 34:26
  Speaker 5: was retired and had been retired for a good number
• 34:29
  Speaker 5: of years that you know, had some input on not
• 34:34
  Speaker 5: necessarily financially, but just emotionally psychologically about retirement. I mean,
• 34:39
  Speaker 5: you know, you you get a group of people together
• 34:41
  Speaker 5: that have various experiences. It's a it's interesting what comes
• 34:46
  Speaker 5: out of it.
• 34:46
  Speaker 4: It's also a great point to make washing of course,
• 34:48
  Speaker 4: has an aging population. There's a lot of people that
• 34:51
  Speaker 4: are either in retirement have moved towards retirement. Once you
• 34:53
  Speaker 4: get to retirement doesn't mean that your job is over
• 34:56
  Speaker 4: as far as as as planning in your retirement. You
• 34:59
  Speaker 4: can still use are debting forth to have a new
• 35:01
  Speaker 4: financial even in retirement, of course, because in fact that
• 35:03
  Speaker 4: might be where some of the harder, some of the
• 35:05
  Speaker 4: harder decisions need to be made.
• 35:07
  Speaker 5: Well, there are there are a lot of misconceptions out
• 35:09
  Speaker 5: there that can be very costly when you retire. One
• 35:13
  Speaker 5: of the gentlemen was thinking that, you know, when you retire,
• 35:16
  Speaker 5: you have to withdraw all your money at once out
• 35:19
  Speaker 5: of your four oh one k. It's like, well, no,
• 35:21
  Speaker 5: you you can roll that over into an I RA
• 35:24
  Speaker 5: and you only pay tax on the money as you
• 35:26
  Speaker 5: take it out, right. You know, that's a very costly
• 35:29
  Speaker 5: mistake potentially. You know, those are the types of things
• 35:33
  Speaker 5: that that you know, if you're not doing this every day,
• 35:36
  Speaker 5: if you don't have that experience, those are costly mistakes
• 35:40
  Speaker 5: that you know, if you give someone like me a call,
• 35:45
  Speaker 5: you know, we can help you mitigate those miss miss
• 35:47
  Speaker 5: those uh errors that can happen just because of you know,
• 35:53
  Speaker 5: you retire once you don't do this often.
• 35:56
  Speaker 4: Right and and and there's a lot that uh know,
• 36:00
  Speaker 4: understanding the nuance and the things behind the scenes like that.
• 36:02
  Speaker 4: I mean, that's what you do and it shouldn't be
• 36:05
  Speaker 4: somebody's job out there. There's plenty of people out there
• 36:07
  Speaker 4: that listen to talk radio every day that if you
• 36:09
  Speaker 4: just set them down in front of a mic, it's
• 36:11
  Speaker 4: not an easy job. But if you set them down
• 36:12
  Speaker 4: in front of a mic and they had something to
• 36:13
  Speaker 4: say and they had to cover one hour one time,
• 36:16
  Speaker 4: they could probably do it just fine.
• 36:17
  Speaker 3: You know, people have something.
• 36:18
  Speaker 4: To say, do that over five days probably gets a
• 36:21
  Speaker 4: little bit harder.
• 36:22
  Speaker 2: You know.
• 36:23
  Speaker 4: And eventually and do you know all the sponsor reads,
• 36:26
  Speaker 4: do you know what the timing cues are?
• 36:28
  Speaker 3: Do you know?
• 36:28
  Speaker 4: I mean, eventually you will run out of your surface
• 36:32
  Speaker 4: level knowledge and you need to know what goes on
• 36:34
  Speaker 4: behind the scenes some and that's where having an expert
• 36:36
  Speaker 4: helps you out.
• 36:37
  Speaker 3: Is a lot, can help out a lot.
• 36:38
  Speaker 4: It's not that you can't figure out a couple of
• 36:41
  Speaker 4: things on your own, but figuring out everything on your
• 36:43
  Speaker 4: own and what it all means and coming up with
• 36:45
  Speaker 4: a plan that's not as easy.
• 36:47
  Speaker 5: And doing it in a way that you're separating your
• 36:51
  Speaker 5: anxieties and emotions away from the decision making. That is
• 36:54
  Speaker 5: the biggest, really, the biggest risk I think folks that
• 36:59
  Speaker 5: are doing it on their own have is that they
• 37:02
  Speaker 5: their judgment can be clouded because of anxieties because it's
• 37:05
  Speaker 5: their money and they know I only have one time
• 37:08
  Speaker 5: to get this right.
• 37:10
  Speaker 3: It makes a lot of sense, John, but debt for
• 37:11
  Speaker 3: Fourth Avenue Financial.
• 37:12
  Speaker 4: We do this every Monday morning at eight twenty on
• 37:14
  Speaker 4: retire Rate Radio and encourage you to tune in every
• 37:16
  Speaker 4: Monday morning. Also, the podcast will be available at WHS
• 37:19
  Speaker 4: network dot com slash retire right about an hour or
• 37:21
  Speaker 4: so after the show. All of our archives are back
• 37:23
  Speaker 4: there as well. If you want to tune in to
• 37:25
  Speaker 4: any of our pass shows. You can find out more
• 37:26
  Speaker 4: about Fourth Avenue Financial online is Fourth Avenue Financial dot
• 37:30
  Speaker 4: com and also on Facebook you spell out the whole
• 37:32
  Speaker 4: thing Fourth Avenue Financial. Like the page, you could be
• 37:34
  Speaker 4: notified a future Saturday meetings or anything else that's going
• 37:37
  Speaker 4: on there. Located at one seventy Court Street, downtown Charleston.
• 37:40
  Speaker 4: The phone number three zero four seven four six seven
• 37:41
  Speaker 4: done seven seven three zero four seven four six seven
• 37:44
  Speaker 4: nine seven seven close today though close today for.
• 37:46
  Speaker 3: Martin Luther King Day.
• 37:47
  Speaker 5: That's correct.
• 37:47
  Speaker 4: Yeah, so starting tomorrow if you're looking to get a
• 37:50
  Speaker 4: hold of John at the office three zero four seven
• 37:52
  Speaker 4: four six seven non seven seven Fourth Avenue Financial dot
• 37:54
  Speaker 4: com and on Facebook, John thinks a bunch of your
• 37:57
  Speaker 4: time once again.
• 37:57
  Speaker 3: We'll see you back here next.
• 37:58
  Speaker 4: Week, all right, sound's good. Take care Armbredet with Fourth
• 38:00
  Speaker 4: Avenue Financial. I'm Dell Cooper. Coming up next will be
• 38:03
  Speaker 4: Dave Allen on five av Life, Allow about Dave and TJ.
• 38:05
  Speaker 4: After that, I'll be back this afternoon at three or
• 38:07
  Speaker 4: six on Hotline.
• 38:07
  Speaker 3: Have a great day, everyone,