Latest / WCHS Network Podcasts / 08/24/2026 Retire Right Radio with John Burdette

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08/24/2026 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 it's
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Speaker 1: employees or WVRC Media. Retire Right Radio is on the air.
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Speaker 1: John Burdett from Fourth Avenue Financial is here each week
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Speaker 1: to answer your questions about financial planning, investing, and building
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Speaker 1: the retirement you deserve. Find Fourth Avenue Financial in downtown
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Speaker 1: Charleston at one and seventy Court Street, or online at
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Speaker 1: Fourth Avenue Financial dot com. Call three zero four three
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Speaker 1: four five fifty eight fifty eight or text three zero
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Speaker 1: four nine three five five zero zero eight to join
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Speaker 1: the conversation. Now, let's go live to the studio with
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Speaker 1: John Burdett.
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Speaker 2: Heavy Good morning everyone. You are listening to retire Right
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Speaker 2: Radio on this Monday morning.
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Speaker 3: I'm del Cooper.
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Speaker 2: John Burdett is in studio with us this morning for
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Speaker 2: retire Right Radio from Fourth Avenue Financial. John, Good morning,
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Speaker 2: How you doing this morning?
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Speaker 3: Pretty good?
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Speaker 2: Appreciate you coming in and lending us your expertise, he
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Speaker 2: says always this morning. If you have any questions for
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Speaker 2: John as it comes to whatever is going on with
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Speaker 2: your retirement, with your financial planning, you can plan on
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Speaker 2: give us a call this morning three zero four, three
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Speaker 2: four five fifteen to fifty eight. First plan and getting
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Speaker 2: a good plan in place is plan to make a
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Speaker 2: phone call three zero four three four five fifty eight
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Speaker 2: fifty eight. You can text three zero four nine three
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Speaker 2: five five zero zero eight. John Buttt will be here
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Speaker 2: until nine o'clock, so you're welcome to give us a
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Speaker 2: call with any questions you have about your financial planning,
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Speaker 2: planning into your retirement and John can help you out
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Speaker 2: with that. So house thing's been. It's been a little
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Speaker 2: lot since you and I've been on the air together.
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Speaker 2: I had some time off, you had some time off,
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Speaker 2: and we did a best of show last week. So
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Speaker 2: we're buycking ready to go, ready.
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Speaker 4: To go with even the new promos and intro songs
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Speaker 4: and such.
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Speaker 3: That's right.
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Speaker 2: Yeah, gave it a little fresh facelift to the show.
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Speaker 2: Show's been on the air for a while, you know,
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Speaker 2: got to change things up a little bit every once
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Speaker 2: in a while. And now we'll lock it in for
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Speaker 2: another ten years.
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Speaker 3: Or whatever it is.
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Speaker 4: No, thanks sir, thanks for going well. We you know
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Speaker 4: last week with the market, there was a little bit
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Speaker 4: of a most of the talk, so it seem to
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Speaker 4: be surrounding interest rates, you know, higher interest rates, and
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Speaker 4: and that has some people worried. Uh it's not unique
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Speaker 4: to the US though. I mean bond yields across the
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Speaker 4: globe are moving higher, and I.
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Speaker 2: Say bonds are kind of having their their moment right
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Speaker 2: now with with with pricing and things along those lines.
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Speaker 4: Yeah, so when interest rates go up, you know, there's
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Speaker 4: an inverse relation to bond prices and interest rates. So
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Speaker 4: when yields go up, when the interest goes up, the
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Speaker 4: price of bonds will go down a little bit. Not
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Speaker 4: as extreme as a stock, you know, a stock would
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Speaker 4: because a bond has a cash flow tied to it.
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Speaker 3: Uh.
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Speaker 4: But uh so you could see the value of your
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Speaker 4: bond portfolio and your next statement might be down a
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Speaker 4: little bit. But also over time, because of higher interestrate,
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Speaker 4: your income is up. You know, over time you're going
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Speaker 4: to get higher income on those bonds because interest rates
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Speaker 4: are higher. So you know, when you hear things like this, oh,
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Speaker 4: the bond yields are higher. You know, all the articles
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Speaker 4: act like it's a bad thing. Well it is unless
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Speaker 4: you're on the right side of the ledger. And and
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Speaker 4: you know, most folks that are planning for retirement are
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Speaker 4: on the right side of that ledger. They're not borrowing money.
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Speaker 4: They're actually the one earning the interest. You know, remember
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Speaker 4: a bond as a debt, and and when people hear that,
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Speaker 4: even with government debt, they say, oh, you know, the
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Speaker 4: government owes so much money it can never be paid back.
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Speaker 4: But that debt is also an asset to somebody else.
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Speaker 4: You know, it's not like it's just a debt and
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Speaker 4: there's no there's no asset somewhere. Somebody owns those assets.
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Speaker 4: So you know, it's it's it just depends on you know,
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Speaker 4: where you set on that ledger, and and if you've
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Speaker 4: been a saver and if you've kept your debt low
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Speaker 4: and paid things off before retirement, you know, it's really
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Speaker 4: not that bad of a thing for you. It It
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Speaker 4: actually makes those balance portfolios that a few years ago,
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Speaker 4: when interest rates were almost nothing, you couldn't get return
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Speaker 4: off your bond portfolio. You can now. And so you know,
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Speaker 4: a few years ago we were seeing things like oh,
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Speaker 4: it's the death of the sixty forty portfolio, or the
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Speaker 4: moderate balance portfolio doesn't work anymore. Well, when interest rates
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Speaker 4: are zero or very close to it, you know, you
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Speaker 4: don't have that traditional offset and protection of the income
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Speaker 4: that the bonds offer. That's not the case now, you know.
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Speaker 4: It's It's funny. Usually when these articles come out, you know,
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Speaker 4: they're coming out at the at the peak of that issue.
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Speaker 4: They're not coming out before the issue happens. They're they're
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Speaker 4: coming out, you know, Monday morning quarterback type articles that
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Speaker 4: to clear these things that ultimately, you know, revert back.
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Speaker 4: I mean, it's almost always when you hear something about it,
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Speaker 4: by the time you hear about it, the peak has passed, generally,
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Speaker 4: And that's a good example of that.
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Speaker 2: I saw, and I don't know in relation to it,
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Speaker 2: this is a tangently what you were just talking about.
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Speaker 2: I'm not sure what the nuanced relationship was with it
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Speaker 2: with stock buy bikes through the government and things like that,
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Speaker 2: but in a lot of areas, and this is where
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Speaker 2: political headlines get into things like people were making like
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Speaker 2: a huge deal over these bye bikes going one way
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Speaker 2: or the other, what it was supposed to do with
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Speaker 2: the markets and things along those lines. But then again
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Speaker 2: you dialve then into the more sober specialist financial news
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Speaker 2: and you get a little bit more nuanced positioning on
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Speaker 2: that where it's not the end of the world or
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Speaker 2: it's you know, you get what people talk about where
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Speaker 2: this is actually it just changes the landscape a little
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Speaker 2: bit on how things are as we start getting into
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Speaker 2: this area. One thing that didn't happen is mortgage rates
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Speaker 2: still haven't gone down. That's the opposite direction. Unfortunately, it's
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Speaker 2: like the only indicator I'm watching right now because I've
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Speaker 2: been I've been really interest hesitant on doing some stuff
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Speaker 2: I need to do because of interest rates, and I
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Speaker 2: think I'm just either I'm going to have to decide
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Speaker 2: to take the higher interest rate or I'm just going
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Speaker 2: to have to decide to invest in something else for
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Speaker 2: the moment.
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Speaker 4: Well, if you if you take the higher interest rate,
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Speaker 4: you're not going to be happy, but the bondholder will be.
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Speaker 3: So I'll help somebody out there. That's right.
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Speaker 4: That's right, So you know, And that's why a lot
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Speaker 4: of these doom and gloom articles you hear are written
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Speaker 4: from one perspective and it's like, Okay, how will that
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Speaker 4: impact the economy as a whole. Well, there is a
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Speaker 4: winner and a loser in that situation, or or somebody
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Speaker 4: that's better off than they were, and somebody that's worse
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Speaker 4: off than they were. But you know, as a whole,
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Speaker 4: does that change the economy that much? Probably not as
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Speaker 4: much as people believe that it does. It might affect
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Speaker 4: certain sectors of the economy things of that nature, but
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Speaker 4: it's it's not a one way street. There's a beneficiary
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Speaker 4: to that policy or that that market shift.
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Speaker 2: And the bottom line is with any of these things,
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Speaker 2: there's it's John's been explaining here, there's a way to
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Speaker 2: navigate through those as you're planning for your retirement. A
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Speaker 2: different shift than the landscape often just means a different
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Speaker 2: set of tools, or you get to elevate some tools
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Speaker 2: over tools that have maybe been dormant for a while.
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Speaker 2: You never know how those things play out unless you
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Speaker 2: contact an expert, because this is something that if you're
7:16
Speaker 2: trying to chat GPT these answers or look up these
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Speaker 2: different things, you're going to get a scattershot of answers
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Speaker 2: that's not going to answer the question for you. It's
7:24
Speaker 2: going to be a very generalist type of situations, and
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Speaker 2: so you should give an expert a call because John
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Speaker 2: Burdet can help you out with that. You can do
7:30
Speaker 2: it here this morning three zero four three four five
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Speaker 2: fifty eight fifty eight three zer a four three four
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Speaker 2: five fifty eight fifty eight. You can also send us
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Speaker 2: a text three zer four non three five five zero
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Speaker 2: zero eighth and then you can find out more information
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Speaker 2: online as Fourth Avenue Financial dot com Fourth Avenue Financial
7:42
Speaker 2: dot com.
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Speaker 3: If you're looking to.
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Speaker 2: Find out more information about Fourth Avenue Financial for long term,
7:48
Speaker 2: you can find out all kinds of great information over there.
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Speaker 2: So we know that again we're in this opportunity with
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Speaker 2: the market being where it is, there is no entry point.
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Speaker 2: If you're looking into retirement or anything like that. You
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Speaker 2: can get started now, just like you can any other point.
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Speaker 2: It's not a bad time to start your retirement. No,
8:08
Speaker 2: now's as good a time as any. If you haven't
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Speaker 2: got started yet, don't let the headlines trick you out
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Speaker 2: on these things, because you can get started, and you
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Speaker 2: can and you can get on that path.
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Speaker 4: Yes, absolutely, if you're starting out, if you don't have
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Speaker 4: a big portfolio, you shouldn't even worry about the market.
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Speaker 4: You should just worry about your contributions to it. It
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Speaker 4: takes you six seven years before you really start noticing
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Speaker 4: that the market is working for you. Even if the
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Speaker 4: market is good. You don't have that much in there
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Speaker 4: when you start, so if the market goes up ten percent,
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Speaker 4: it doesn't change your life. It's not until you get
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Speaker 4: larger balances that the market takes over, that the growth
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Speaker 4: takes over and actually starts adding more to your account
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Speaker 4: than you can add yourself. And that's where the magic happens.
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Speaker 4: And it takes five, six, seven years of commitment to
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Speaker 4: get to that point when you start noticing it, and
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Speaker 4: then the more you do that, the more you realize, hey,
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Speaker 4: wait a second, this is how those charts start looking
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Speaker 4: like that hockey stick, you know, because the compound interest
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Speaker 4: is compounding on itself, and it's still happening when you
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Speaker 4: start out, but it's just not noticeable because the amounts
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Speaker 4: are so small. I'm not a I don't know. I
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Speaker 4: don't know much about marine life or ponds or things
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Speaker 4: like that, but I did read an article that somebody
9:34
Speaker 4: said that lily pads in a pond, if you look
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Speaker 4: at them and you see a couple in the pond,
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Speaker 4: and you come back the next day, there might be
9:42
Speaker 4: a couple more, but I guess they double overnight essentially,
9:46
Speaker 4: and so a couple of days in you'll realize that, hey,
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Speaker 4: this thing is covered. The whole pond is covered with
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Speaker 4: these things, and that's how money works. It just seems like,
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Speaker 4: you know, when you double from one to two, well
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Speaker 4: that's not that big of a deal. But when you,
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Speaker 4: you know, double from one thousand to another thousand to
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Speaker 4: two thousand, you know that starts to add up.
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Speaker 2: Great information with John Burdett as always, and give us
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Speaker 2: a call this morning three zero four three four five
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Speaker 2: fifty fifty eight.
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Speaker 3: Three zero four three four five fifty eight fifty eight.
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Speaker 2: Because despite all this stuff that we might talk about,
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Speaker 2: headlines that nibble around and things that we have to
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Speaker 2: do due diligence to cover, that does not necessarily affect
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Speaker 2: the brass tacks of investing for your future and for
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Speaker 2: your retirement. There's ways to do that through any type
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Speaker 2: of environment, and that's why John is here for You
10:32
Speaker 2: can give us a call this morning three zero four,
10:33
Speaker 2: three four five fifty eight fifty eight. You can text
10:35
Speaker 2: three zero four non three five five zero zero eight.
10:38
Speaker 2: And there's just so many things out there. Because you know,
10:42
Speaker 2: we've had chip makers that had been leading the day
10:45
Speaker 2: people concerned about an AI bubble. We did see some
10:47
Speaker 2: sell off I think in the chips last week. So
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Speaker 2: there's there's like a little bit of hesitancy around that.
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Speaker 2: We talked about the about the the treasury yields being
10:57
Speaker 2: being higher than what they have been. I mean, there's
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Speaker 2: a lot of a chattering out there. What's going on
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Speaker 2: in Iran, what's going on with Canada, the price of oil,
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Speaker 2: There's all this stuff out there, But it's pretty amazing
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Speaker 2: for the most part when you look at and we've
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Speaker 2: been doing it through this, through this current epoch. I
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Speaker 2: guess the market generally, although there might be a rumble here,
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Speaker 2: there generally continues up. And that's why you should have
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Speaker 2: confidence when you're trying to invest for your retirement. There's
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Speaker 2: a path there. You just have to find the right
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Speaker 2: path for you.
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Speaker 4: Yes, and sometimes if you're just focusing on the headlines,
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Speaker 4: you're missing what's really happening. And what's really happening is
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Speaker 4: that earnings year over year or up about thirty percent.
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Speaker 4: That drives the market forward. You know, if you own
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Speaker 4: something and it produces thirty percent more income, chances are
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Speaker 4: the value of that thing is going to be more.
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Speaker 4: And that's that's the case with the market. So with
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Speaker 4: all the noise all the headlines. The thing that matters
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Speaker 4: are your companies making money and are they making more
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Speaker 4: money than they made the year before? And the answer
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Speaker 4: to that so far has been yes.
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Speaker 2: And that's why this it always seems to play out
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Speaker 2: that way, of course, because we've seen this happen and
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Speaker 2: there's in you know, like in my in my health
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Speaker 2: savings account, for example, I've seen huge games this year.
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Speaker 2: I mean, frankly, it's been I've just left it alone.
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Speaker 2: It was did fine last year, and I looked at
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Speaker 2: it this year's like I'm just gonna leave it alone
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Speaker 2: and see how it goes. Just left it alone, and man,
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Speaker 2: it's it's It's outperformed my main investments this year.
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Speaker 3: It's done a really good job.
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Speaker 4: It'll it'll help you pay for that eighteen dollars tile
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Speaker 4: in all one day.
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Speaker 3: It's getting to that point.
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Speaker 2: Believe me, it used to be I would keep that
12:35
Speaker 2: thing in my wallet a lot and just like, yeah,
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Speaker 2: I can pay for this incidental cost. I can, But
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Speaker 2: not anymore. They're not incidental anymore, if that's for sure.
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Speaker 2: But again, you can give it a call this onre
12:43
Speaker 2: if you have any questions. Three or four three four
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Speaker 2: five fifteen fifty eight, three four five, fifteen fifty eight.
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Speaker 2: And in all seriousness, in these questions that we have
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Speaker 2: about all that's happening in the world and the market
12:55
Speaker 2: and different things like that, you take a slice out
12:57
Speaker 2: of life. At any point in your life, my life,
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Speaker 2: a listener's life. These types of things bubble up and
13:02
Speaker 2: happen all the time. The players change, the the the
13:06
Speaker 2: end result, whatever that might be. That might change to
13:08
Speaker 2: some degree, but this type of discussion, these types of
13:10
Speaker 2: things are always happening in one shape.
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Speaker 4: You never turn the TV on and see the news
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Speaker 4: anchor say, hey, not much going on today, Just enjoy
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Speaker 4: your day.
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Speaker 3: That never happens.
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Speaker 4: There's always something going on, and there always will be
13:26
Speaker 4: something going on.
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Speaker 3: You know.
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Speaker 4: Uh, I get a lot of I can I can
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Speaker 4: tell you know in my lot of work when I
13:33
Speaker 4: get a surge of of interest in certain topics and
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Speaker 4: you know, right now, it's it's related to the bonds
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Speaker 4: and the bond interest. It's it's about the government debt,
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Speaker 4: right you know, Oh, this is going to be a
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Speaker 4: disaster or a collapse.
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Speaker 2: And and that's seems like people have amnesia about that
13:53
Speaker 2: until like every so often, as people start remembering like, oh, wait,
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Speaker 2: we have government debt out there.
13:57
Speaker 3: Yeah, it's it's very odd.
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Speaker 4: Well, and I think that with that government debt, it's
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Speaker 4: not the same as you are a having debt. It
14:06
Speaker 4: is different, and I think sometimes that difference isn't recognized
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Speaker 4: in the in the folks that focus on that as
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Speaker 4: a reason to be concerned about their investments. You know,
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Speaker 4: I agree it is a concern to have a government
14:21
Speaker 4: that is running large deficits and having debt, but not
14:26
Speaker 4: for the same reason if you or I did. You know,
14:30
Speaker 4: when you think about money, when we break it down,
14:32
Speaker 4: it goes right back to the thing we always talk about.
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Speaker 4: You know, wealth is not money. Wealth is the ability
14:38
Speaker 4: to serve. And so if you look at the money
14:43
Speaker 4: flow of what's happening with with the government deficits, somebody
14:48
Speaker 4: already had to produce productively to be able to buy
14:53
Speaker 4: that bond. So there again, that debt is not just
14:58
Speaker 4: a debt, but it's an asset to somebody else. So
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Speaker 4: when you think about that, that money transfers to the government,
15:08
Speaker 4: the bond holder then gets interest from that on production
15:12
Speaker 4: they already did to create the money to buy that bond,
15:17
Speaker 4: So you know, it's not like it's a total black hole.
15:21
Speaker 4: Somebody's getting something out of that, or they wouldn't buy
15:23
Speaker 4: the bond. That's what's happening now. People are demanding a
15:26
Speaker 4: little higher interest rate to entice them to buy the bond,
15:30
Speaker 4: and they're making that decision willingly, because they're looking at
15:33
Speaker 4: the situation and saying, hey, that's a decent return, I'll
15:36
Speaker 4: take that.
15:37
Speaker 2: Which is a lot different than a bank holding a
15:38
Speaker 2: note on a mortgage or something like that.
15:40
Speaker 4: Well, the government can always make the money. They print
15:44
Speaker 4: the money, they can create the money. I mean, look
15:47
Speaker 4: what happened in the last crises we've had. They create
15:49
Speaker 4: the money. Now, it's not without costs when they create money.
15:54
Speaker 4: That's what the inflation is. You know that there is
15:57
Speaker 4: a cost. Nothing is free, diluting the value of the
16:01
Speaker 4: money if you if you print more, but if if
16:03
Speaker 4: the government's promising something, chances are you're going to get
16:07
Speaker 4: the money. It's just not going to buy as much
16:09
Speaker 4: stuff down the road. And the government can do that
16:12
Speaker 4: where an individual cannot. But all those billions and billions
16:18
Speaker 4: and billions of dollars that's going to interest, it's largely
16:21
Speaker 4: going back to us. You know, the bond holders, the
16:24
Speaker 4: people that have four oh one k's, that's that sort
16:27
Speaker 4: of thing. So it's really not a debt like you
16:31
Speaker 4: or I have a debt if we go and spend
16:34
Speaker 4: up on our credit card and buy things. The danger
16:38
Speaker 4: of it, in my view, is not that traditional way,
16:41
Speaker 4: but it is in a sense, we're allowing the government
16:51
Speaker 4: to decide how capital is allocated when we run a deficit.
16:58
Speaker 3: You know, the the.
17:00
Speaker 4: The people are giving their productive production up basically to
17:06
Speaker 4: the government for them to allocate. And then the question
17:11
Speaker 4: is is it being allocated correctly? Right, because it's already
17:15
Speaker 4: been produced. The wealth was already produced. It's just who
17:19
Speaker 4: gets to divide it up and decide where it all
17:21
Speaker 4: flows to.
17:22
Speaker 3: Which is a lot different from you you.
17:24
Speaker 2: I tend to have heard some of these arguments in
17:26
Speaker 2: the past, just this one to one ratio. Well, we're
17:30
Speaker 2: in debt. You know, China owns all that debt and
17:33
Speaker 2: that's pretty much where it's left at. And it's like,
17:35
Speaker 2: that's just not true. That fundamentally cannot be true, right.
17:39
Speaker 4: No, it's it's not true. And in the grand scheme
17:43
Speaker 4: of things that they have a small slice of it,
17:46
Speaker 4: most of it is owned by US, and even if
17:50
Speaker 4: you know other countries own it, well, guess what we
17:53
Speaker 4: own parts of their debt too. Everybody's in every country
17:57
Speaker 4: just about has debt. How does that possible? Well, it's
18:02
Speaker 4: because people have funded it out of their productive abilities,
18:06
Speaker 4: or it wouldn't be there. It couldn't be there. So,
18:11
Speaker 4: you know, it's just a different thing. I mean, I
18:13
Speaker 4: keep a book on my shelf in my office who's
18:16
Speaker 4: written It's called Bankruptcy nineteen ninety five, and it talks
18:20
Speaker 4: about all the doom and gloom of what the you know,
18:24
Speaker 4: the collapsing debt spiral that we were in in nineteen
18:27
Speaker 4: ninety five.
18:28
Speaker 3: Wait a minute, what happened?
18:30
Speaker 4: Yeah, that's more than thirty years ago, and it's still
18:33
Speaker 4: going on this way. How is that possible? How is
18:36
Speaker 4: it possible for Japan to have almost three times the
18:42
Speaker 4: public debt is the United States and it still is
18:44
Speaker 4: a country and functioning because they owe it to them
18:48
Speaker 4: to themselves. It's a different now there Again, there's not
18:55
Speaker 4: all good in that because the government now is deciding
18:59
Speaker 4: how that capital is allocated, and it also is a
19:03
Speaker 4: is a recognition that the people are deciding that there
19:09
Speaker 4: might not be enough private opportunities, So I'm going to
19:14
Speaker 4: park my money here.
19:15
Speaker 3: For a while.
19:18
Speaker 4: So you know, there are there are reasons to to
19:21
Speaker 4: to not like this rampant spending uh and and borrowing.
19:27
Speaker 4: But I don't think it's the traditional way that most
19:30
Speaker 4: people think about it, and and I don't think it's
19:34
Speaker 4: explained at all and in any of the articles or
19:37
Speaker 4: newss that you that you read about it. It's not good,
19:41
Speaker 4: but it's not good for a for a reason. And
19:43
Speaker 4: there are some structural things. I mean, the United States
19:48
Speaker 4: has a huge treasure treasury market obviously, but that treasury
19:51
Speaker 4: market is our debt. You know, we are the global
19:54
Speaker 4: reserve currency. We have to have that. Look, liquidity in
20:00
Speaker 4: those markets and the ability for people to park their
20:04
Speaker 4: assets in our reserve. Well, if you have zero debt,
20:08
Speaker 4: you can't be that and you can't do that. You know,
20:12
Speaker 4: why do we have more death than anybody? You know?
20:15
Speaker 4: Why do we have so much debt? Well because people
20:18
Speaker 4: think it's a good bet, or they wouldn't fund it.
20:22
Speaker 4: I mean because the people have decided to put their
20:26
Speaker 4: money there. Why have they decided to do that if
20:32
Speaker 4: it were about to collapse? I mean, rates wouldn't go
20:36
Speaker 4: from you know, five and a half to five and
20:39
Speaker 4: three quarters, you know, rates would spiral out of control.
20:43
Speaker 2: I just I wonder what percentage of politicians that don't
20:46
Speaker 2: set on like any financial committees or whatever, actually understand
20:49
Speaker 2: the relationship the same way that you just explained it,
20:52
Speaker 2: because if public speaking about it is any indication, it
20:56
Speaker 2: would be some of them have no idea.
21:00
Speaker 4: Well, I don't know. I would hope that that some
21:03
Speaker 4: understand it. But but I think politicians, as as you know,
21:10
Speaker 4: the media and everybody else, I mean, they're trying to
21:15
Speaker 4: push an agenda or a point or or or scare
21:20
Speaker 4: to get clicks or you know, in the and you know,
21:24
Speaker 4: you can certainly craft a narrative that makes people pay
21:29
Speaker 4: attention and might make them support certain things.
21:35
Speaker 3: I don't know.
21:37
Speaker 4: I don't know, But fundamentally, the debt is not, in
21:44
Speaker 4: my view, what most people think that it is. As
21:47
Speaker 4: far as the government that goes.
21:48
Speaker 2: It's really pretty incredible because it means that that generally speaking,
21:52
Speaker 2: there's a lot of people on the on the sidelines
21:54
Speaker 2: who ravel rius about these things every four years or
21:56
Speaker 2: every two years or whatever it might be, that actually
21:59
Speaker 2: knows that they there is a level of service required
22:01
Speaker 2: in there that the things are talking about eliminate all ash.
22:04
Speaker 2: You can't do it, Like that's just a fake promise,
22:06
Speaker 2: and they know it's a fake promise.
22:08
Speaker 4: Not only that, think about the person that sees that
22:12
Speaker 4: story and panics and they sell their stock, right, Yeah,
22:17
Speaker 4: that's what I was taking the Where do they put it?
22:19
Speaker 4: Oh my gosh, they put it in the bond market, hm,
22:25
Speaker 4: because that's quote safe, right, Or they put it in
22:28
Speaker 4: the bank. What does the bank do with those extra assets?
22:31
Speaker 4: Puts it in the bottom, right. It all circles back
22:33
Speaker 4: somehow or another. So you know, the person that's scared
22:37
Speaker 4: of the bond in the debt is actually the one
22:40
Speaker 4: funding it through their panic.
22:42
Speaker 2: That's interesting and I don't think that I've ever heard
22:44
Speaker 2: it explain quite like that, And I think that it
22:47
Speaker 2: really would do a good service for folks to understand this,
22:50
Speaker 2: because all it's taking is a fact, taking a fact
22:53
Speaker 2: of life, and spinning that into a you know, convenient
22:57
Speaker 2: narrative whenever you need it to try to hit the
22:58
Speaker 2: panic button. It's it's like already made panic that you
23:01
Speaker 2: could tap into at anytime. Have you seen the debt recently? Panic? Panic?
23:04
Speaker 3: Panic? Right?
23:05
Speaker 2: You know, I mean not that, like you said, not
23:06
Speaker 2: that that doing it uncontrolled is good, but just the
23:10
Speaker 2: fundamental misunderstanding there really allows it to be that that
23:14
Speaker 2: panic button that people can hit.
23:15
Speaker 4: Yeah, and like I say, thirty years ago, that book
23:19
Speaker 4: on my shelf was written right and and it was
23:22
Speaker 4: doom and gloom. I think it was written in ninety
23:25
Speaker 4: two maybe, and by ninety five we were supposed to
23:27
Speaker 4: be over and that didn't happen. Well, an individual household
23:35
Speaker 4: would not have survived thirty some years under the conditions,
23:38
Speaker 4: so obviously there's something not the same. An individual would
23:44
Speaker 4: have been bankrupt a long time ago that in that
23:46
Speaker 4: kind of scenario, but obviously the government is cranking on,
23:50
Speaker 4: so it can't be the same. And I think that's
23:53
Speaker 4: the mistake that you know, you view it debt as
23:57
Speaker 4: as the same thing as an individual. And that's the
24:00
Speaker 4: best example I could give is just why as a
24:03
Speaker 4: continued because we know a individual couldn't continue that way.
24:07
Speaker 2: It's great information and really a great explainer of a
24:09
Speaker 2: John Bredet at Fourth Avenue Financial. If you have any
24:11
Speaker 2: questions for John, encourage you to give us a phone call.
24:13
Speaker 2: We're going to take our break now that you can
24:14
Speaker 2: get a hold of us at three zero four, three
24:16
Speaker 2: four five fifteen fifty eight. Threes are A four three
24:18
Speaker 2: four five fifty to fifty eight is our phone number.
24:19
Speaker 2: Threes are four non three five five zero zero eight
24:22
Speaker 2: is our text line number. I think we have a
24:23
Speaker 2: couple of those that have come in three zero four
24:24
Speaker 2: non three five five zero zero eight. We'll take a
24:26
Speaker 2: break and be backward after this. You're listening to Retire
24:29
Speaker 2: Right Ready with John Bredet F for Fourth Avenue Financial.
24:31
Speaker 2: I'm Dell Cooper and this is for f ADWCHS. The
24:33
Speaker 2: Voice of Charleston.
24:34
Speaker 5: Retire Right Radio is sponsored by Fourth Avenue Financial, which
24:37
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24:41
Speaker 5: j W Cole Financial member finraw SIPC. Investment advice offered
24:45
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24:49
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25:03
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25:07
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25:10
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25:12
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25:16
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25:19
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25:22
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25:25
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25:29
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25:32
Speaker 5: program is sponsored by Fourth Avenue Financial, which is solely
25:35
Speaker 5: responsible for its content.
25:36
Speaker 6: I met my wife in law school at the University
25:39
Speaker 6: of Florida. She was from upstate New York and I
25:41
Speaker 6: was from Kentucky. We met at a daily mass at
25:44
Speaker 6: Saint Augustine's. She was the most beautiful girl I'd ever
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Speaker 6: seen in my life. After communion, I followed her out
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Speaker 6: of the church and got her phone number.
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Speaker 3: The rest is history.
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Speaker 6: I'm John Morgan of Morgan and Morgan. Little did we
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Speaker 6: know that one day we would have four children and
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Speaker 6: in the business. It's a family business. Did I ever
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26:45
Speaker 3: Going wrong. You're listening to We're Sorry Right Radio.
26:53
Speaker 2: When five eight whs, the voice of Charles a new
26:56
Speaker 2: bumpers too, with a good hey you picked these out?
26:58
Speaker 2: Don't pick these out new bumper as well for retire
27:01
Speaker 2: right Radio. Here on five adwhs, the voice of Charles.
27:04
Speaker 4: Said, we are not wearing the flower pot hats and
27:06
Speaker 4: in the studio right now.
27:08
Speaker 3: So my kid about flipped out on.
27:11
Speaker 2: She's developed this weird thing recently where she's kind of
27:15
Speaker 2: started pushing back with me and my wife sharing things
27:18
Speaker 2: from our childhood with her a little bit like I
27:20
Speaker 2: don't know if it's gotten so cringe to her, or
27:22
Speaker 2: if she's just so sick of us talking about back
27:24
Speaker 2: in our day or you know, whatever it was. But
27:26
Speaker 2: this weekend we put it like on YouTube. You can
27:29
Speaker 2: find there's tons of videos. It's like two hours of
27:32
Speaker 2: MTV and it's just like a two hour block new edits.
27:35
Speaker 2: It's just so you have like video, you'll have the VJ,
27:37
Speaker 2: you'll have the commercials of the time, and then we'll
27:39
Speaker 2: come back and get back into the videos and stuff
27:41
Speaker 2: like that. So we were messing around the house doing
27:43
Speaker 2: some stuff this weekend and I put one of those
27:44
Speaker 2: things when we were messing around and about drove my
27:47
Speaker 2: kid crazy, like all the weird like just the weird
27:49
Speaker 2: videos and stuff. She's like looking at She's like, what
27:51
Speaker 2: am I looking at here?
27:52
Speaker 3: What is this?
27:53
Speaker 2: I'm like, kid, you watch all this crazy stuff on
27:55
Speaker 2: YouTube and you find this strange.
27:56
Speaker 3: But she did.
27:57
Speaker 4: Yeah, Max's Headroom.
27:59
Speaker 2: Right eighties videos really really took her out of it.
28:01
Speaker 2: So I guess that's the way things are. You can
28:03
Speaker 2: give us a call this morning three zero four three
28:05
Speaker 2: four five fifty fifty eight. You can text three zero
28:06
Speaker 2: four nine three five five zeros are eight to get
28:08
Speaker 2: a hold of joenbre Debt from Fourth Avenue financial one
28:11
Speaker 2: of the things I wanted to to maybe inoculate folks
28:13
Speaker 2: against because we talked about the headline movement and things
28:15
Speaker 2: along those lines. Kevin Warsh has his big first announcement
28:18
Speaker 2: in Jackson Hole coming up at the end of this week.
28:20
Speaker 2: I think where a lot of the FED policy there's
28:22
Speaker 2: been some bubbling and some split among the folks in
28:25
Speaker 2: the FED and stuff like that. So it may not
28:28
Speaker 2: affect your the bottom line of your retirement in the
28:30
Speaker 2: long term, but a lot of people are going to
28:31
Speaker 2: be looking at what's gonna what what the what the
28:34
Speaker 2: mood's going to be like Friday?
28:36
Speaker 4: Yeah, and I think the you know, the bond market
28:39
Speaker 4: is already telegraphing that this idea that he was going
28:44
Speaker 4: to come in and oh, rates were going to be lower.
28:47
Speaker 4: I mean, obviously that's doesn't seem to be What's what's
28:50
Speaker 4: going on right now? My guess is things will stay
28:58
Speaker 4: pretty much the course for a little while. I don't
29:00
Speaker 4: think they're going to be in a rush to raise
29:02
Speaker 4: rates officially or or and certainly not the cut rates.
29:06
Speaker 4: It's hard to cut rates when the bond market is
29:08
Speaker 4: signaling the act, you know, the exact opposite of that.
29:11
Speaker 4: So so we'll see. But there again, these things don't
29:16
Speaker 4: really affect someone planning for a retirement over their long
29:21
Speaker 4: term plan. They really don't. I mean, what's important to somebody.
29:27
Speaker 4: Let's say you've you've saved your half a million million
29:29
Speaker 4: dollars whatever you you have as you enter retirement, what
29:34
Speaker 4: concerns you is that you see that on your net
29:37
Speaker 4: worth statement, but network doesn't pay the bills.
29:40
Speaker 3: You have to be able to.
29:43
Speaker 4: Convert that net worth into an income that you can
29:47
Speaker 4: live on and that will be durable, that will not
29:52
Speaker 4: we'll keep up with inflation. Well, you won't spend it
29:56
Speaker 4: before you before your time's up. Essentially, that's what's important,
30:02
Speaker 4: and that is an individual thing, your individual needs. How
30:06
Speaker 4: do you know how much you even need for retirement? Well,
30:10
Speaker 4: you know, first you set down and you look at
30:12
Speaker 4: where's the income coming from. That's coming you get a
30:15
Speaker 4: social Security check, maybe you get a pension. You know,
30:19
Speaker 4: how much does it take for you to live? Maybe
30:21
Speaker 4: it takes you six thousand dollars a month to live
30:24
Speaker 4: the way you want to live. Well, maybe thirty five
30:27
Speaker 4: hundred dollars is coming from social Security and other types
30:30
Speaker 4: of income. That means you've got to make up twenty
30:32
Speaker 4: five hundred dollars to be comfortable off of your portfolio.
30:36
Speaker 4: From there, you look at your assets and then you
30:39
Speaker 4: build an allocation that will sustain that. And you know,
30:44
Speaker 4: it's it's easy to look at the news and say
30:49
Speaker 4: this affects everything, but really, what's important to you twenty
30:52
Speaker 4: five hundred dollars a month, Right, How do we get that?
30:55
Speaker 4: How do we ensure that market volatility that is inevitable
30:59
Speaker 4: and unpredictable will not destroy my monthly income that I'm
31:05
Speaker 4: getting off of my portfolio. You know, that's what we do.
31:09
Speaker 4: That's that's we set down and we figure those those
31:12
Speaker 4: numbers out.
31:13
Speaker 3: If anything, what's happening.
31:16
Speaker 2: When I say what's happening today, I mean we have
31:18
Speaker 2: seen you grocery bills have gone up. We have seen
31:22
Speaker 2: the cost of living has increased, and we've seen it
31:24
Speaker 2: happen in real time. Gasoline has gone up. I mean,
31:26
Speaker 2: certainly when you go to the grocery. I mean I
31:29
Speaker 2: track my expenses. I've seen what they've gone over and
31:31
Speaker 2: it's it's significant over the last seven or eight years.
31:34
Speaker 2: I mean it is significant the price of beans over
31:37
Speaker 2: the price of beans, or you know, significantly. You have
31:39
Speaker 2: increased and maybe not technically the price of beings, you
31:41
Speaker 2: know what I mean, like commodities have have increased significantly.
31:44
Speaker 2: But that's instructive for folks that are that are aiming
31:47
Speaker 2: for retirement, right, because that gives you a sort of
31:49
Speaker 2: an idea of the reason you have to plan for
31:51
Speaker 2: it correctly, because we don't know when you hit that
31:53
Speaker 2: that retirement time. You know, when you get close to
31:55
Speaker 2: seventy years and it's your time to retire. It could
31:58
Speaker 2: be in a situation where there's vall it's all rates
32:02
Speaker 2: on things, and we're a thing. The cost of living
32:04
Speaker 2: is a little higher, and that's why you have to
32:06
Speaker 2: do it right. That's one of the main things why
32:08
Speaker 2: you have to do it right.
32:09
Speaker 4: And that's also why you know you can't look at
32:12
Speaker 4: it with pure fear because remember, if inflation is higher
32:16
Speaker 4: than planned, what happens. Interest rates tend to be higher. Well,
32:20
Speaker 4: if you have assets in retirement, what can you do.
32:24
Speaker 4: You can get higher yields on your money as well.
32:27
Speaker 4: You know, stocks over time keep up with inflation. I mean,
32:30
Speaker 4: there are ways to deal with the portfolio. That's also
32:33
Speaker 4: why it's important every so often to check back in
32:38
Speaker 4: review what your needs are, review how your budget looks,
32:43
Speaker 4: and to make sure your money is invested in the
32:46
Speaker 4: way and allocated in the way to support that. Because nobody,
32:52
Speaker 4: just like the book Bankruptcy nineteen ninety five, nobody today
32:56
Speaker 4: is going to set and look at a portfolio and
32:59
Speaker 4: make projection and be right thirty years from now what
33:03
Speaker 4: happens exactly right. It's not possible to do. There are
33:08
Speaker 4: too many variables compounded year after year after year.
33:12
Speaker 2: There are so many of those books where I own
33:14
Speaker 2: bookstores for a while, there are so many of those
33:16
Speaker 2: books that came out every year preaching the doom and
33:18
Speaker 2: gloom or the next thing that's going to happen, or
33:21
Speaker 2: the financial collapse. And not only like the apocalyptical stuff,
33:25
Speaker 2: you know, like that was around like twenty twelve or
33:28
Speaker 2: whatever it might be, but all of these financial dooms
33:30
Speaker 2: and glooms. I mean the book that you're talking about,
33:32
Speaker 2: I know that book. I know exactly the book that
33:33
Speaker 2: you're talking about. I've seen it on myself before. But
33:36
Speaker 2: there were tons of stuff like that, of people predicting
33:38
Speaker 2: the doom and gloom because of this niche or that
33:40
Speaker 2: niche or whatever it might be. It hasn't happened yet. No,
33:44
Speaker 2: I mean, I hate to keep on bringing but it's
33:46
Speaker 2: just the truth. I mean, people get kind of headwinds
33:49
Speaker 2: over this one thing and this one neat trick that's
33:52
Speaker 2: going to crash the market.
33:52
Speaker 3: That's just not the way it works, right.
33:54
Speaker 4: And you have to be able to once see through
33:58
Speaker 4: that to a degree and see long term, but also
34:00
Speaker 4: make the adjustments. And in the market gives you those adjustments.
34:05
Speaker 4: You know, if inflation is high, something else is going
34:07
Speaker 4: to be happening over here. That allows you the ability
34:11
Speaker 4: to offset part of that. It's just how you allocate
34:14
Speaker 4: your funds and and what your needs are. But not overreacting,
34:19
Speaker 4: you know. That's the like you say, you start getting
34:23
Speaker 4: phone calls now that people are talking about bonds and
34:28
Speaker 4: you get out of everything. Well, okay, if you get
34:30
Speaker 4: out of everything, if you break your portfolio, get out
34:33
Speaker 4: of the stocks.
34:34
Speaker 3: What are you doing.
34:34
Speaker 4: You're buying bonds, So why would you buy what you
34:38
Speaker 4: think is going to collapse? You know, you've got to
34:43
Speaker 4: be a little cooler, you know, less emotional about those decisions.
34:46
Speaker 4: You can make adjustments, but but you know, usually things
34:53
Speaker 4: you can't extrapolate endlessly into the future, what's going on now,
34:57
Speaker 4: because there will be changes that happen because of the
35:01
Speaker 4: forces those events put on put on you know, the
35:04
Speaker 4: economy or the market or individuals. People don't sit still.
35:09
Speaker 2: Last couple of minutes of job or debt. For Fourth
35:10
Speaker 2: Avenue Financial, we did have a text that came in
35:12
Speaker 2: that I was going to ask you about Navidia anyway,
35:13
Speaker 2: because I know that they're reporting this week. So we've
35:15
Speaker 2: got a text that came in said the video earnings
35:17
Speaker 2: or this week. And it seems like my or and
35:20
Speaker 2: my whole four oh one K seems to go up
35:21
Speaker 2: and down based on whatever the company does well. And
35:27
Speaker 2: I don't even own it that much, or I don't
35:28
Speaker 2: even own any stock specifically, is what there's it? So
35:31
Speaker 2: I get that's like the headwinds effect.
35:33
Speaker 4: I guess, yes, And which also probably means if you
35:37
Speaker 4: look at your portfolio, you're not as diversified as you
35:41
Speaker 4: think you are. You may own five different funds in
35:45
Speaker 4: your in your four oh one K, but all five
35:49
Speaker 4: may have the same top ten holdings.
35:52
Speaker 3: Some magnificent seven stuff in there or whatever.
35:55
Speaker 4: Yes, So it's when you're building your four oh one
35:58
Speaker 4: K portfolio, it's important to look under the hood, see
36:00
Speaker 4: what those top holdings are and make sure there's not
36:03
Speaker 4: overlap amongst them. One of the mistakes that I see
36:07
Speaker 4: a lot of folks make, which makes sense when they
36:09
Speaker 4: go to pick out their funds, they look at the
36:12
Speaker 4: report of how they've done. He said, Oh, last couple
36:15
Speaker 4: of years, this fund's done well, this fund's done well,
36:18
Speaker 4: that fund's done well. I'm going to buy all of them. Well,
36:21
Speaker 4: they all did the same They all performed very well
36:25
Speaker 4: under the same time horizon because they all own the
36:29
Speaker 4: same thing. And you know you don't want that. I
36:33
Speaker 4: mean sometimes in a portfolio. All times in a portfolio,
36:37
Speaker 4: you're going to have pieces that don't perform as well
36:40
Speaker 4: as others because they're not in favor. But that's how
36:44
Speaker 4: you keep from having one company report and moving the
36:48
Speaker 4: whole thing.
36:49
Speaker 2: Now, that's a hard lesson I learned from you a
36:51
Speaker 2: long time ago when I was like trying to go
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Speaker 2: through all of the reports on the on the different
36:56
Speaker 2: on the different things that you could that you could
36:58
Speaker 2: buy into, Like I was just saying, Okay, well, this
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Speaker 2: one had a great year, this one had a great year.
37:01
Speaker 2: There's but they had a great year because they all
37:03
Speaker 2: were investing in the same thing right right.
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Speaker 4: And and you know, the younger you are, the less
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Speaker 4: that matters if you if you don't panic in that volatility,
37:13
Speaker 4: but it certainly when you start taking income out. It
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Speaker 4: is extremely important to have that diversification as you get
37:19
Speaker 4: closer to retirement. You know, a young person can wait
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Speaker 4: out the volatility, but if you have a monthly income need,
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Speaker 4: the math changes greatly.
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Speaker 2: That's John Burdett with Fourth Avenue Financial one. What a
37:31
Speaker 2: great what a great show today and all kinds of
37:32
Speaker 2: great information that John was able to give you today.
37:35
Speaker 2: If you only missed or if you only caught a
37:37
Speaker 2: portion of the show and you missed some of it,
37:38
Speaker 2: you're welcome to catch the podcast that will be up
37:40
Speaker 2: on our podcast players within the next hour or so.
37:43
Speaker 2: So you can go to WCHS network dot com and
37:44
Speaker 2: appear on the bottom of the page there or any
37:46
Speaker 2: of our outlets for the podcast. You can find it
37:49
Speaker 2: there and you can listen to retire right Radio. Fourth
37:52
Speaker 2: Avenue Financials available on line Fourth Avenue Financial dot com.
37:54
Speaker 2: You spell off the whole thing Fourth Avenue Financial and
37:57
Speaker 2: you can find it on Facebook as well by doing
37:59
Speaker 2: that same, sirch the phone numbers three zer A four seven,
38:01
Speaker 2: four six seven non seven seven three zer A four
38:04
Speaker 2: seven four six seven none seven seven Right here in Charleston,
38:07
Speaker 2: across from the Town Center Mall on Court Street, three
38:09
Speaker 2: es are A four seven four six seven non seven seven.
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Speaker 3: John, thank you much for your time. We'll see you
38:13
Speaker 3: back here next week.
38:14
Speaker 2: Ray, thank you. Thanks about chess. John Burdett for fourth
38:16
Speaker 2: Avenue Financial. I'm Dale Cooper. Coming up next is Dave Allen.
38:19
Speaker 2: I'll be back this afternoon at three oh six with
38:21
Speaker 2: Dave Weekly on hotline. Have a great day everyone, listening
38:23
Speaker 2: to your Voice of Charleston five to eighty w c A.
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Speaker 1: You see ASAM ninety six point five on Charleston one
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Speaker 1: oh four point five Cross Lanes, WUVRC Media Station.
38:34
Speaker 3: We are proud to live here too,