L V Plummer Jr.

Mastering Your Money Fears, with L.V. Plummer Jr., Certified Financial Planner Practioner and LPL Wealth Strategist on The Bev Johnson Show on WDIA Radio.

Episode Transcript

Speaker 1 (00:02):
Don't.

Speaker 2 (00:03):
Memphis probably presents the Ben Johnson Show.

Speaker 3 (00:08):
Let me you say, Beth, I've.

Speaker 1 (00:11):
Got me first.

Speaker 3 (00:17):
Let me you say, She's done memphistogain.

Speaker 4 (00:28):
No matter of the problem, she can have so all
the phono.

Speaker 1 (00:36):
Norma your mind. She understand to be heading in.

Speaker 5 (00:41):
The hair by challing you to just keep the thing.

Speaker 3 (00:48):
Went around picking up the Johnson Show.

Speaker 4 (00:52):
Because we got out in every you can hear every
day at me a.

Speaker 5 (01:03):
Missing good morning, good morning, good morning, and welcome in too,

(01:31):
wd I A the BEV Johnson Show. I'm dev good
to have you here on this beautiful sunshiny day in Memphis, Tennessee.
It's Tuesday, March eighteenth, twenty twenty five. Enjoyed this fabulous
day to day. Get ready to put your ears on
as we learn about what's going on with our money.

Speaker 3 (01:54):
He is back in the house.

Speaker 5 (01:57):
Our certified financial Planner practitioner LPL Wealth Strategists, Lawrence Plummer Junior.

Speaker 1 (02:05):
Will be here.

Speaker 3 (02:06):
We better know we know a Mayor's v LV Plumber.

Speaker 5 (02:10):
We'll be talking with us this day, telling us how
we can master our money fears.

Speaker 3 (02:17):
So stick and stay for that.

Speaker 5 (02:19):
When it's your turn to talk, you know you can
All you need to do is dial these numbers nine zero, one, five, three, five,
nine three four two eight hundred five zero three, nine
three four two eight three three five three five nine

(02:39):
three four two will get you.

Speaker 1 (02:41):
In to us.

Speaker 5 (02:45):
And if this day, this day, Tuesday March eighteenth, twenty
twenty five, is your birthday. Happy birthday, each and neighbor
one of y'all. I'll tell you who may be celebrating
a birthday on this day.

Speaker 3 (03:05):
You know what I say.

Speaker 5 (03:07):
God, y'all go out and celebrate your life.

Speaker 3 (03:12):
Yeah, better, you better.

Speaker 5 (03:15):
When we come back, we'll talk with our certified financial
planner practitioner l p L Wealth Strategists, Lawrence Palmer Jr.

Speaker 3 (03:26):
Lv l V will be with us next.

Speaker 5 (03:29):
And me Bev Johnson on the Bev Johnson Show on
w d I A. And good morning and welcome back

(04:49):
to wd I A The Bev Johnson Show.

Speaker 3 (04:53):
I'm Bev.

Speaker 5 (04:54):
It is a Tuesday, March eighteenth, twenty twenty five. It's
you gorgeous day in Memphis, Tennessee. I hope it is
gorgeous wherever you are. Well, let's get started this day.
He is back in the house. But let me tell
your securities Advisory services offered through LPL Financial and registered

(05:16):
in Investment Advisor, member of FINNRAH and Sipsey. The opinions
express of those are Lawrence Plumber Junior, Certified Financial Planner
Practitioner LPL Wealth Strategists LV and Plumber Wealth Strategies. Today
we'll be offering a complementary consultation to the first five

(05:36):
y'all five five callers and five people who book an
appointment online. For those who may be at work and
cannot call, all you need to do is go to
p WS Planning dot com send LV an email by
clicking the contact us button to schedule your free complementary
consultation with LV. The number is nine zero one seven

(06:00):
four eight zero zero five zero nine zero one seven.

Speaker 3 (06:05):
Four eight zero zero five zero.

Speaker 5 (06:08):
The email is l V at p w S Planning
dot com or service at PWS Planning dot com. And
also know that you can navigate to their website at
p w S Planning dot com. So, without any further ado,

(06:31):
we welcome back again our certified financial Planner Practitioner l
P L Wealth Strategist Lvpromer Junior.

Speaker 3 (06:41):
Good morning, l V. Do I have you l V?
Let me see LVU there Okay, I hear you. Now,
I hear you now, LV, I got you. I'm god like, wait,

(07:02):
wait a minute, what I'm LV? I got your brother,
I got you.

Speaker 2 (07:05):
A little hiccup and we made I'm.

Speaker 3 (07:08):
Doing well, LV. How about you?

Speaker 2 (07:12):
Good? Good that I can tell you. But if it's
been a year, But honestly, I got breath of my lungs,
still here, still kicking all doubts, continuing to be good
to us.

Speaker 5 (07:22):
You know what, LV, we do not complain. And I'm
like you, we still got breath in our body. So
we're we're still.

Speaker 2 (07:28):
Moving exactly a little short and breath considering what's been
going on in the world. But we'll talk. We got
a long session today, all right, Well.

Speaker 3 (07:36):
Let's get started.

Speaker 5 (07:38):
I know, I know, and I love this topic, LV,
because I was, you know, before I came to work,
I was thinking about this and going like, Lord, what's
going on our money?

Speaker 3 (07:48):
How is so? You know fears? So today I'll show
you all mastering.

Speaker 5 (07:53):
Your money fears and LV, you know a lot of
people have fears.

Speaker 3 (07:57):
We have a lot to talk about. I'm sure it's
been stressful and as advisor this year.

Speaker 5 (08:03):
So what are some of the fears and concerns LV
from clients that you're experiencing and that they are telling
you about.

Speaker 2 (08:13):
Yeah, yeah, and great, great question, Bev. And here's the thing.
I've been on the show now with you for going
on I believe eight years now, right, And this is
something I think this show in particular, the one that
I have planned, it probably has happened three maybe four
times since you and I have started working together. So
let me let me let me preface by saying this,
because that's a great question that I want to posit
today to the listeners. Now, this is a rare time, Bev. Again,

(08:35):
probably the fourth since we've been together on the show
that I really feel like there's a need for people
to listen. Okay, what I mean by that is this,
this is a time where honestly, not just me, but
I don't mean to listen to LV Plumber. I don't know.
I don't have all the answers. I don't have the
magic secret sauce to make sure that the world feels
better about what's going on right now. But I still
say this, this is a great time if you do

(08:57):
not work with someone in the realm of finance for
your money where you need to hear at least one
at least one another voice besides your own, right, Because now, Bev,
what I'm hearing is this, the people have gone off
of the absolute rails their fears, their expectations, their political opinions,
their economic opinions. Right, this is a time where, honestly,

(09:18):
you just it's just a great time. And I hope
I have the privilege and honor of being that other
voice today for those that are listening. But this is
a good time for you to say, Okay, let me
hear someone that actually is in the world, on the
front lines, that is seeing this every single day where
they were at least at the very bare minimum. Bev,
whoever's listening and say, Okay, I heard a professional at
least give his two cents on this, and I can

(09:38):
use that to form my opinion based on some of
the facts that are out there and not based on
overhearing in the social media sphere and based on water
cooler talk. There's a lot of information and a lot
of misinformation that's happening right now, and I want to
just kind of cut the record clear today. That's my
ultimate goal, and I want to say this also, Bev,
this is a time I would say in my sixteen
years nearly of doing this job, this is probably the

(10:01):
time in my career where I would say this might
be the worst I've ever seen you crippling our clients.
And I won't. I won't say that fear is a
bad thing or I'm talking down to people who get
emotional about their money. What I'm saying is that where
people are taking the information, that where they're getting their
information from, and how they're using that to form the decisions,
the critical decisions they make about their money, their well

(10:21):
for their families. I'm having people jumping off of the
roof right now, proverbally, proverbally, and that's that's not a
good thing. And that's why I was really really itchinging
down the show because I have a bit to say
on this, and I want to make sure that even
for those that call for your consultations, we'll talk more
when we do our one on one, But for those
that even don't decide to call, I just want you
to hear me on a few things. That's the whole
point of today's show. Because I actually wrote down I

(10:43):
was so excited for this show that I actually wrote
down some direct quotes that I want to test to
any names, but okay, by clients that said this that
you know, they're relatively newer clients aren't really used to me,
and I even just in anticipation of the show, I
wanted to be able to hear a few things that
I'm hearing right now to kind of encapsulate what I'm saying.
So Number one, I I had a couple of quotes
here that have really tested me as an advisor. I

(11:03):
can say Number one, I heard, here's the phone, LV,
and this is me in meeting talking to clients that
are scared.

Speaker 4 (11:10):
Right.

Speaker 2 (11:11):
There's four or five things I heard. One thing that
I heard. These are direct quotations, LV. This is the
beginning of the end. I know it, trust me, this
is it. That's one quote. Another one, Hey, LV, the
markets are never going to recover from this quote unquote.
The markets are never going to recover from this, right.
And in other words, that client thought that they think
they're going to lose all their money and everything they
worked for is gone forever. Another one, we've never seen

(11:34):
this before, LV. That's another big one. I hear that
this is unprecedented. We'll get into that in a minute.
This client says, we've never seen this before, so in
other words, we need to be scared, is what that
client says. Right, That was another one that I've heard,
and then the last one, LV I feel it the
world is not going to make it after this this
client really, and again, I'm not laughing at the quotations.

(11:56):
I'm just making sure that everyone understands in our world
like these are the things that we're trained on to
make sure that we coach our clients away from that
type of rhetoric where it's almost pre apocalyptic and clients
are thinking that like their entire worlds are gonna just
go belly up. Everyone's losing their money, their jobs. I'm
not even laughing at the point that there aren't concerns.
There's a lot of concerning things happening right now, Bev.

(12:18):
I'm not sugarcoating it. I'm not saying that disregard everything
and skipprin the flow, you know, the flower fields, thinking
everything is okay. I'm just saying that we want to
make sure that we're not rash and then we don't
take it to level ten. Right now, we're at a
level five and I have a lot of level ten
clients right now that I am doing my best as
an advisor to coach them through this. So if you
guys are in that mindset, beb I know that's not

(12:38):
you because you listen to me long enough to know
what I think everything, how I react to those that
may be relatively new hearing me or any advisor, we
are trained for this exact same situation we're going through.
Our job right now is to make sure that we
are that additional voice in our client's heads that helps
combat those quotes that I just got done saying. And
if you're in that mindset where you're new to this

(13:00):
and maybe this is something where this world is not
something that you think it's for you because you're seeing
your money going up and down and everything, I just
want to say, if you can only listen to two
words I can say today, Calm down, It's gonna be fine.
We're going to give through this. We've been through worse,
and i'ma go over worse in a little bit here.
But that's the main thing I going to make sure everyone
understands today is that you know, even though we see

(13:20):
the markets reacting to a lot of the Trump policies
and administration and different tariffs that we're seeing right now.
Right I wanted to go through a few things in
the next section of this bed, but I want everyone
to know that if you can't listen to this whole show,
does understand one thing we've seen this before and right
now the reason that we're seeing the world of money
and the stock markets and the economy really trying. You know,

(13:41):
you see going up and down. There's a lot of
gyration in the markets. There's a lot of volatility, there's
a lot of ups and downs happening when it comes
to everyone's investments. The reason we're seeing that right now,
I want to make sure everyone's clear is not necessarily
directly the impact we're seeing on tariffs, because tariff right now,
we're trying to figure out where the policy is actually
going to land. Of course, everyone turns on the TV,
we hear Donald Trump and his agenda. We hear that,

(14:02):
you know, what he wants to do as far as
his goals for the economy and the policies that they're
looking to enact. But the one thing, honestly that we've
seen this last few months, it really wasn't the impact
of any quote unquote tariffs. It really was the one
ingredient that Wall Street does not want to see, Bev.
And you know that, right the one thing that the
world of money does not like is that one word uncertainty,

(14:23):
right Uncertainty is what we don't want to see. So
right now, the fact that the world is so uncertain.
We don't know if tariffs are going to happen with aluminum, transports, appliances,
crude oil, whatever. You know, there's a lot of things
that we're looking at tariffing as far as foreign imports
coming into the country. But right now, it's not even
the direct impact of those tariffs that we're feeling right now.
It's really just the world not knowing what's going to
happen tomorrow. And in my experience, BEV, I'd rather the

(14:46):
tariff just happen now and us digest it and get
past it, instead of the world really teetering on the
edge of, hey, it's just going to happen or is
this not going to happen? And we have that level
of uncertainty like we're going through right now. That's why
you're seeing your four to one k is going up five, ten,
fifteen per and down the next day. And it is
a roller coaster right now really because we don't know
what's going to happen. So what I'm going to say

(15:07):
is this, the markets are pricing in that situation, and
the love of the world, I want everyone understand today
is recession, right And I want to make this this
is loud and clear for those that can't listen to
the rest of the show. Number one ingredient is uncertainty.
That's what we don't like. Number two ingredient is recession fears. Okay,
so right now, the thing is this we're thinking, and

(15:27):
some a lot of the pessimists on Wall Street are
thinking that the tariffs are going to trigger a recession
through to rising prices, slowing economic growth, all that jazz,
of course, But the main thing right now that I
try to remind our clients of is that, you know,
recessionary fears are elevated right now, but we still don't
see it as a probably a highly probable outcome for
the rest of the year based on what we're seeing
across the economy. Right You look at the unemployment rate,

(15:49):
which is still looking pretty solid. We look at wage growth,
we look at housing starts, you look at them, the
participation rate of the labor market, all those things. Yes,
we're showing signs of weakness due to some other economic
factors and policies that we're seeing, but right now we're
not seeing us going, you know, guns blazing into a
recession like some investors are feelings. So I want to
make sure everyone understands that the facts are not signaling

(16:10):
us to go into a recession. Number one yet and
again I could be wrong tomorrow, but as of today,
that's not what we're seeing. And number two, the overwhelming
consensus is that right now, I'm going to say this
bit of this may be controversial. I know no one
cares about my political opinions because politics is crazy right now.
But I can tell you this, if I were to
look through an objective lens and say, and if someone
were to ask me and say, HELV, what do you
really think about what's happening right now, as far as

(16:31):
whether you think it's good, bad, or ugly? I am
by You know, I have to love buy law be
a very neutral and objective advisor. I cannot project my
political opinions on anyone's money and the advice I render.
But the one thing I can tell you is this,
if you look at the history of tariffs dev it's
not about flexing economic muscle, and it's not about inflicting

(16:52):
pain on other foreign trade partners. It really is about negotiating, right,
And that's the thing I try to tell people. I'm
not going to be again a partisann advisor. Whether I'm blue, red, Green,
it doesn't matter as far as my allegiance or party,
my party alignment. I really want people to understand the
true function of what is going on right now. And honestly,
my theory that which I think a lot of people
may agree or disagree with, I think this is just

(17:15):
a bargaining chip. I think that this is a negotiating tactic.
And that's why what I'm saying this, that's why I'm
trying to give a little bit of a previews what
I would tell clients in the meeting. But whenever we
think that this is just I'm not going to say
talk because there is some substance behind this. Obviously, if
Trump's in the if Trump's tariffs end up becoming actually
active in our in our economic trade policy, then of
course that will have massive impacts on everything in the country.

(17:38):
But I will say this though I don't think that's
the objective of the current administration. I think right now
we're looking for a reaction for our foreign trade partners
such as China, such as Canada, such as Mexico, like
we're seeing in the press. But my thing is, right now,
we're seeing what's going to where we're kind of testing
the waters as the nation right now to seeing how
again responsive our trade partners are going to go, as

(17:58):
far as maybe lowing their tariffs, maybe making adjustments to
their trade policies so we can maybe come out on top.
So that is not a pro anything or anti anything
observation of what's going on. I'm just letting clients understand
that as far as the reality behind terrace, because if
I'm right, and if again a lot of Wall Street
is right that shares my opinion, then we're going to
see a future in the next three to six months

(18:18):
where all this will be under the carpet. We're going
to be back to normal, and hopefully the markets will
have recovered. Everyone will say, man, we've freaked out over nothing,
because now this is now we're looking to something else.
I just want people to understand that all of this
is short run. It's nothing that's going to impact the economy.
I'm sorry, implode. The economy is not going to be
an apocalypse. Everyone just needs to see where this goes.
And again that's where having an advisor that will give

(18:41):
you some facts on this it will be a good
voice to have in your head right now, because everyone
thinks that this is something that has never happened before
in American history. It has happened. It says that I
think the package and of course the waves being spoken
about that may be a little bit unprecedented. But as
far as the actual policy and the facts, we have
seen this before. But I'll stop there. As far as
that question. The good.

Speaker 5 (19:02):
Okay, Okay, we're gonna take a breakway you're starting off, all,
oh man, you're giving us some stuff.

Speaker 3 (19:07):
You ready to work today? LV?

Speaker 2 (19:10):
I know, I know. I'm sorry, BEV.

Speaker 3 (19:12):
That's okay, that's okay, that's okay. Hold on, LV. We
will take this break.

Speaker 5 (19:17):
And while we take this break, let me remind you
LV is only taking five callers today for free complimentary consultation.
Nine zero one seven four eight zero zero five zero.
That's nine zero one seven four eight zero zero five zero.

(19:37):
First five callers, y'all, And the first five people who
book online. Let me tell you where you go to
p WS Planning dot com. P WS Planning dot com,
send LV and email by clicking the contact us button
to schedule your free complementary consultation with l V. We

(20:02):
are talking today mastering your money fears with l V
Plumber Junior. Are certified financial Planner practitioner l P L
with strategists and me BEV Johnson right here on w
d i A.

Speaker 1 (20:21):
The BEV jns.

Speaker 6 (20:23):
Sho don't go away. The BEV Johnson Show returns after
these messages.

Speaker 3 (21:00):
Everyone, I seek.

Speaker 1 (21:04):
Talking everyone.

Speaker 5 (21:15):
Good morning and welcome back to w d i A.
We are talking with our certified financial Planner practitioner l
P L Wealth Strategist l V Plumber Junior.

Speaker 3 (21:27):
Before we go.

Speaker 5 (21:28):
Back to l V l V, we have a caller
with question haih Shan, I'm doing well?

Speaker 3 (21:35):
How are you?

Speaker 7 (21:37):
I'm doing well this miss I'm up for doing well.
Listen quickly, other one to drop this out. I have
been a client of the Plumber family and the Wonderful
Financial Institution. His father counseled me before he retired exactly
seven years ago this November. I believe and I have
met his wonderful daughter hers or her husband and other

(22:00):
people in the organization. I've also talked to ELV a
couple of times, and I just have a quick question.
I am very disillusioned about where my savings have been
since I followed his father's advice. I was hoping and
know his father didn't promise me anything. He's promised me
to give me the best advice he can give me,
and he did that. But I was hoping within seven
years I would my smast earnings that I trusted him

(22:24):
with would have least double, and they happen. So am
I being unrealistic that hoping that they would have doubled
right now? And if I am, if there's some other
options I can have to put my little I have
left somewhere that it may have some more growth. I
understand it's up to to I know stop market. I
know it has a lot to do with the stop

(22:45):
market and other things like that. And I'm not disillusioned
with Trump and his silliness, but I'm really concerned about
what I have left. Should I move it somewhere else
to get some type of growth that has not had
within the past seven years. And that's my Christmas.

Speaker 5 (22:59):
All right, thank you, sharing, thank you for calling. And
I'll get that question to LV. And I hope LV
if you heard the question. If not, i'll repeat it.
How you doing?

Speaker 2 (23:08):
Did you hear it? Can you hear me? Good?

Speaker 3 (23:09):
I hear you good? Yes? Did you hear Sharon?

Speaker 7 (23:12):
Yeah?

Speaker 2 (23:12):
Hurts it? Oh, Sharon, Sharon? Most and forgive me because
I kind of caught it a little bits and pieces
that I think I got most of what you said.
First and foremost, thank you for being a client of
two generations of plumbers. That's a that's that's a lot
to take in between him and I and uh, and
that's what we appreciate your loyalty, appreciate you being with us.
I will say this though, please call because that is

(23:33):
appointment territory right there. I need if we haven't met,
I know, we got really busy with our transition. If
we haven't met in at least like a few months,
six months or plus, we do need to talk. So
we need to set up a call or meeting so
we can go over your specific strategies and we'll make
sure we can update everything based on what's happening right now.
So number one, just call us now. Number two for
everyone else that heard that one thing that we do

(23:53):
as advisors, and she's one hundred percent right when we meet.
When we met someone like her, I think she said
about seven years ago, there were investments that were started. Bev,
I cannot stress enough how much our projections and I'll
be humble and even admit that how much our projections
were off before COVID. The one thing I want everyone
understand is that anyone if you started an investment, I'm
not saying you're full one K from thirty years ago

(24:15):
or twenty five years ago when he first started working.
I'm talking about if you met an advisor, or even
if you started your own investments on your own before
pre COVID, before twenty twenty, we had a we had
an outlook and a viewpoint on where we thought the
world was going to go in twenty nineteen and twenty
eighteen pre pandemic, and Bev, there's not a soul on
this planet that predicted what COVID was going to do

(24:35):
to our economy and to our stock market. So she's
right about that. And if you feel like she does,
where you're saying, man, I set up this plan years
ago and I'm thinking, and to her point, one thing
we train our clients on if you have an average
portfolio where you're averaging at least eight to ten percent
per year in the SMP five hundred, just a standard
and next fund. She's right about that. If the normal,
if we have a normal market, you should double your

(24:57):
money in about seven years. If you look at the
rule of seven too, right, seven years is like a
good expectation if we have a good I won't even
say prospers seven years BED, but at least like a
normal seven years, which we have not enjoyed since COVID.
Obviously that was crazy what we just went through. So
if that probably means that you have to recalibrate your portfolios,
because if you haven't done anything since twenty nineteen, twenty eighteen,

(25:19):
and now it's twenty twenty five, that means upbously to
be made and you need to really make sure that overall,
you meet with an advisor or of course call us
and we can help you make sure that everything you've
invested in pre COVID is up to date for what's
happening right now, especially like she mentioned, in light of
what we're seeing right now with the current administration and
kind of how fast things are moving. So great time
to talk to an advisor and a great time to
call and work with someone to make sure that your

(25:40):
portfolios are invested for the times with that. So that's
a great observation, and miss Sharon, I look forward to
your call. Okay, now good?

Speaker 5 (25:48):
Yeah, and Sharon, call him the call LV because he's
gonna help.

Speaker 2 (25:52):
Yeah, because I absolutely, absolutely.

Speaker 5 (25:54):
Yeah, because people want to know that, and especially in
your client's LV with the transition from senior to you
to junior and you probably haven't spoken to these clients,
but y'all call LV so he can you know, he's.

Speaker 2 (26:10):
Yes, ma'am. Yeah.

Speaker 8 (26:11):
Yeah.

Speaker 2 (26:11):
We have over a thousand households we managed in forty
two states. And yeah, there's some people we met. We
meet bev or I meet for the fair first time
that you haven't talked to in like ten plus years,
because honestly, they got everything started with us a long
time ago, and you know, time drifts, people get busy,
we don't really get back together. And I've met people
where it's been way way too long that they haven't
sat down with us to go over everything and update

(26:32):
their strategies and talk about the future. So if you
are one of those that either with your current advisor
or if you're with us and you haven't spoken in
longer than a year or two or longer, hopefully not,
make sure you call so we can get back together
and update everything. Because this is a great time, which
I'll get into in a minute, A great time to
sit down, look at your different buckets as well figure
out what moves you can make while the markets are
kind of doing their thing. Fantastic time in this transitional

(26:55):
period we're in to make sure you take inventory, stock
or where you are, and then again reset your goals
and make sure that, no matter what's happening in the markets,
that you're on track to achieve what you want to achieve.
So a great year to get that.

Speaker 3 (27:05):
Done sounds good? All right?

Speaker 5 (27:06):
LV, I want to dive deeper because I'm concerned about this,
about this TARFF situation. Can you help our listeners gain
a deeper understanding, LV, of what's really going on.

Speaker 2 (27:20):
Now? I ranted about twenty minutes to go better, So
I want to spend the whole session on teriffs because
I think everyone is just everyone is just over encumbered
with information on this and I kind of made it
clear about my stance on where I think things are
going and what I think the true master plan is
behind all this craziness. But I'll say a couple more
things I want to be very clear on, actually two
or three more things now I said it earlier, Bed Right,

(27:41):
we've seen this before, right, If you look at the
historical trend of tariffs, sometimes it's worked with past administrations
and sometimes it did not work in the field miserably.
So that's where we are in the spectrum right now,
is we're kind of in that uncertainty, in that middle
gray area where we're like, hey, it's just going to work.
Is it not going to work? And actually, right now
we're trying to figure out what true tariffs are actually
to be enacted. And what everyone is probably seeing right

(28:03):
now is, you know, the back in January after the inauguration,
we're looking at you know, tariffs on aluminum products, on appliances,
on raw materials, on various foreign imports from those really
are three big trade partners Canada, Canada, Mexico, and of
course China, which we're still trying to digest all that news.
But I want to make sure everyone understands something, And

(28:25):
this is where I think the fear is coming from
the markets and where people are making big money decisions.
The tariffs in and of themselves are not going to
be what we're fearing. I think the big thing, in
two words, that we fear, and that's what's causing some
of the selling to go on Wall Street, is a
trade war, right, and everyone here's those terms all the time.
Trade war. We you know, we don't tariffs are the

(28:45):
first step. The second step that can escalate the situation
to where we don't want it to go is reciprocal
tariffs and of course retaliatory tariffs. Right. We don't want
other nations to start going tip for tag, which kind
of is what's happening right now, to say, okay, you
know you're going to tax us ten percent on our
on our aluminum imports. We're in a taxi fifteen on
whatever you want to send to our nation. Right, it
kind of becomes a back and forth tennis match of

(29:07):
raising prices, and as everyone already knows basic economics, you know,
when that war and that environment and that climate starts
to take over, you know, consumers lose because obviously that
causes and triggers inflationary pressure. Prices for all normal goods
and services goes up, and that can trigger recession at
the end of the day. Right, So that's what we
don't want to happen. And like I said, we're still
in the first ending of all this. I don't want

(29:28):
to get into that our word recession and too much,
because that's way down the road if that's even a
scenario that we're gonna outlook on. But right now, we're
still kind of in the first innings of just seeing
what is going to happen, and we're seeing kind of
this bickering going back and forth and really seeing where
the policy is going to land. Now. I want to
make sure you're clear on this everyone, So not again,
I'm non partisan everyone. I'm not saying pro Trump anti Trump.

(29:49):
This is just what we believe.

Speaker 8 (29:51):
Now.

Speaker 2 (29:51):
Best case scenario, let's say that my optimism is well served.
Let's say that these things, these terriffs actually work in
the next six to twelve months or longer. The best
case scenario is that, yes, we will see that an
inevitable price increase and of course, you know all goods
and services and groceries things like that that we need
every day to survive. But in the best case scenario,
it really comes down to two words, and that's job creation. Right,

(30:14):
That's the whole point of this that we're hoping is
where this coalesces to, is that though we may feel
short term inflationary pressures on goods and services, that maybe
we repatriate job production domestically, there's less of a reliance
on foreign production and maybe, just maybe some jobs can
be created out of this. Now, do I think that's
where things are going. I'm not a political scientist. We
don't know, you know, I'm not Jesus, So I can't

(30:35):
predict where this is going to go. But I will
say that's the ultimate administration goal right now is to
make sure that overall we can try to pump some
jobs here in America. So we all, in my opinion,
should be rooting for jobs and health and everyone to
be prosperous. So I'm hoping that's the way it goes.
But again, as a neutral advisor, I cannot say that
I agree or disagree. I'm just going with the facts
right now. But I want everyone to know from the
from again an economic standpoint, as far as the one

(30:57):
on one that's the ultimate objective. It's really not to
start a trade war. It really is just making sure
that we have America first policies and that at the
end of the day, jobs can be created domestically. And
again we hope, I can say, I hope that's where
we end of this instead of a trade war or
a recession. Now, one last thing, BEV want to make
sure I'm clear on with those short term pressures we're feeling.
Everyone is looking at your four to one k's. That's

(31:17):
the last thing I'm gonna talk about today, So hanging
there as far as what I think you should do
with your money during this time. But one last note
on tariffs. Right, I tell my clients that have been
with me longer than five plus years, if you've been
investing for longer than five years, everyone hear me on this,
and I say this to try to assuage fears and concerns.
But if you have invested longer than five years, I'm
gonna say this, you have been through far, far, far,

(31:41):
far far far worse. Right, Anyone you know what I
mean by that. Everyone remembers the pandemic. I can't stress
this enough. If you went through the pandemic as a
client and as an investor, I'm not going to say
you should be laughing at what we're saying compared to
what we were looking at in COVID. Bev. I was
even scared in twenty twenty because I didn't know what
was gonna happen. Remember, he went through We went through

(32:03):
a situation where literally the entire global economy came to
a screeching holt. We had never seen that before. Remember
I read those quotes off earlier about some of the
things I've heard from my clients when we started the show,
and that one client that said, Halv, we've never seen
terrists before. That client is objectively wrong. But when you
look at COVID and when I was talking to my
clients and we had about twelve hundred at the time

(32:24):
that were all panicking at the same time. And that
was a psychiatrist that whole year. But when people were panicking,
I actually had moments where I was like, Elv, I
really hope you're right that everything's gonna be okay. We're
gonna make it through this. The world's not gonna end
because everyone like nothing happened for what six months, right,
the manufacturing sector, the global economy, the tech sector, even

(32:46):
the sports world, the NFL, NBA shut down. This was crazy.
So I tell people not to say, hey, the history
is going to repeat itself. But I'm just saying that
if you went through COVID, if you went through the
two thousand and eight Great Recession, the housing crisis, if
you went through again we call the Great Recession the
tech bubble crisis in the nineties, you have seen far more, far,
far far worse from an economic and a stock market

(33:07):
standpoint than what we're seeing right now. And one last
note of it, I'll be quiet about this, but what
we experienced this year. Yes, we are in correction territory
where the stock markets are dropped between five and ten
percent on average, but you know, just think about it
like this to give you perspective. And we're down ten
percent this year on the stock markets, which we're not
quite there. But if that's the case, among all three indicies,
we were down three times this in COVID. Right, COVID,

(33:30):
we were down thirty percent in thirty days. We've never
seen that before. That was unprecedented, and with that violent
and that you know, sharp of a drop and that
short amount of time. So what I'm saying is that
if you were chill and you cooled off, and you
listen to your advisors and you said, hey, you know what,
I'm gonna ride this out like I coached my clients
to do in twenty twenty, I can tell you is

(33:50):
if you survive that and that strategy work to just
close your laptop, get off your phone, get away from
that world for a minute, and just take a breath.
And that worked for you in twenty two. I can
tell you this, it will work for what we're going
through right now. So just think about shift back to
your twenty twenty sales. If you were one of the
good ones, you didn't sell at the bottom, you didn't panic,
you work with your advisor, and you really held in there.

(34:11):
You should be making some good money right now. And
the funny thing is you should not be at a
loss this year. You should be off of some of
your highs because the last four years we may did
nothing but make money in the stock market. So actually,
my theory is a lot of people got spoiled this
last four years because we actually had a really robust
stock market. So you should not be to the point
where you're at a loss from your five year plus
long investments, you should actually just be off of your gains,

(34:34):
and in my opinion, Bev, you shouldn't panic. These bumps
in the roads are very normal. It's an integral part
of the investing experience. The only time you should panic
is if you got all your money in bitcoin or
something that's a little more speculative. And I can't be
as confident in what I'm saying. But if you're diversified,
you have a really good plan. You're invested in multiple
areas across the globe, multiple sectors and industries, and you

(34:55):
have a good plan. To stick with it and work
with your advisor or if you're doing it on your own,
just stick with what you set up, stay diversified, stay disciplined,
and do not obey that impulse and that emotion to
sell right now. Just please trust me on that. And then,
of course, if you want to talk more about your
actual investments, that's what these consultations are for. Call me,
will analyze everything. We'll see you know kind of what
you're doing, and will analyze your holdings to see, hey,

(35:17):
this is if we can maybe make some tweaks right now.
But again, those tweaks will very rarely include selling right now,
because this is a time to hold tight, bind down
the hatches, and ride this wave out until things get
back to normal.

Speaker 5 (35:27):
Okay, sounds good, LV now LV as always, and I
know you have them. What are some strategies that you've
been recommending to those scared clients out there?

Speaker 2 (35:40):
Yeah, yeah, you know, I got a million of them.
For time's sake, I'll go over five, okay, because I
think when people listen to them, they my feedback from
this show. Everyone they hear me in the first half
of the show, but I think what people really love
where I get into the nitty gritty of okay, like
what do I do? Yeah, And I like that because
on this show I try to be more of a
of a solutions not a problem one. That's why I

(36:01):
like talking about Teris for a whole hour. I really
wanted to just make sure everyone understood the facts first,
and what I like to get into more so with
our clients is really, I guess for the show, just
getting into previews of what I would normally recommend to
someone if I met them for the first time. Those
that call for those consultations, you'll probably hear me say
one of these things based in your situation as far
as what I think could be a good move during
this kind of crazy market run right now, so I

(36:23):
already so out of my five, I already mentioned one,
and my number one biblical rule is don't sell right
and for those please listen to me on this where
I see this the most. And number one for note takers,
do not move to cash, don't panic, do not lock
in losses. That's my number one step right So right now,
again that's more of what not to do, but again

(36:43):
just as important. So what I see a lot if
you are a government worker, and what I mean by
government if you have that, where I see it the
most is that TSP planned. Of you heard that TSP
before for a savings plan. I see this a lot
among our government workers and our municipality workers that work
for the city and the state of Tennessee City Memphis.
All that and TSP is a it's a very easily

(37:04):
self managed portfolio. It's like a four to one K.
And I know there's a lot of TSP lists people
listening because I get a lot of clients from the
show that have these plans. And what I love about
the TSP is that it's easy to manage. What I
hate about the TSP is that it's easy to manage,
right because clients, before they meet me, they'll go in
there and they'll they move money around. They look at
the markets are high and the markets are low. They'll

(37:25):
move to cash when they're scared. They have like a
five to six investment fund menu that you can choose.
There's a G there's for those that know this, it's
the G fund, C fund, SI all the F fund.
You have a whole like a very small menu that's
very easy to understand, and it's a it's a very
turn key way, just an easy way to make sure
you can move your money around. And I tell everyone
what I see every week now, bev is clients are scared.

(37:47):
Now before they meet me, they have their money in
the stock fund and that's TSP. And then what I
meet when they got scared last couple of months, they
moved it from the stock fund to the government fund,
which is basically like a bank account that makes two
percent a year in interest. Right, So they're scared, they
move their money from risky to safe and they say, Elvy,
I'm going to hold down and batten down the edges
and wait until things get better to buy back in

(38:07):
the market. I can't stress to anyone listening if you
are doing that, stop, please stop, because that is the
exact antithesis of good investing. Right. The best thing to
do about investing is to what BEV. We say it
all the time, is to buy low and sell what
sell high. Now, when you obey emotion and you move
your money like and let me protect my money and
keep it safe while things are crazy, what you're doing

(38:29):
is you're doing the exact opposite. You're selling. I'm sorry,
you're selling low in a low market, run right now,
and then you're thinking you're going to buy back when
things are high again. You're you're achieving the opposite objective
of an investor. So you always and actually, I'm going
to say this, it's not right for everyone, but for
those that are younger, that are looking to build their money.
And I say this all the time, BEV. If your

(38:50):
goal is to make money, and I hate to say
this and I can't give straight blanket advice on this,
but if you are looking to get to make money
for your retirement and you're looking to build your wealth,
the single best thing, which is number two that you
should be doing right now. It's not selling, it should
be buying. You should be putting money into the market
Apple Stock, Amazon, Disney, Netflix, Google, Tesla. Tesla's down twenty
five percent right now for the month. Like there's so

(39:11):
many good opportunities to buy. I can't. You know, I'm
not going to endorse any of the companies, but I'm
just saying that if you're looking to buy, you want
to do exactly what the rolecal of Omaha warn Buffet
themselves does. And every time you see stocks at the
discount dander, you see the SMP down ten percent or
more or the nasdack down to fifteen percent or more,
you should be buying high quality companies right now at
a discount. Because here's one big fact that that I

(39:32):
say all the time that if everyone listening doesn't hear
anything else, I say, I got one sentence from the
Maley fool that I always quote here, right, and this
is this is the true data behind what's going on
right now, the correction. So here's the thing that you know,
strong rebounds always follow twelve months after a stock market correction,
which is a ten percent drop or more. Now and now,

(39:53):
if we look back in the contemporary investment period from
twenty ten to now, the SMP five hundred. Just remember
this turned an average of eighteen percent the following year
past that ten percent drop, in other words, nine at
a ten times. Since to twenty ten, there's been a
eighteen percent, a rapid surge in stocks, rebounding and recovering
within the next twelve month period. So, in other words,

(40:15):
things come back with a force after what we're seeing
right now. And you want to know why, bet millions,
if not billions, if not trillions of dollars worth of
investment dollars are flowing into the market based on what
I just said. The good investors, the institutional investors, those
with billions and trillions at their disposal, are looking at
Apple Stock, They're looking at Microsoft, They're looking at Hewlett Packard,
They're looking at They're looking at an Exxon Mobile. They're

(40:38):
buying all these companies that are down ten to twenty
percent because they know for a fact that it's a
fear driven sell off and that honestly the stocks dropped
too far, that things went too far because fear drove
that sell off, and with that stocks at a discount
when they come back all that institutional money flows in
and then of course everyone is up and usually you
can double your money. I'm not saying that's going to happen,

(40:58):
but if you time this thing right way, which is
almost impossible, but if you do, you can almost double
your money within two years. If you buy at the
bottom of a correction instead of being scared and selling
all your money, you want to buy right now. So
that's my thing. Just everyone remember that twelve months from
now there is a ninety percent dance that we're going
to beat up over eighteen percent. I want to make
sure everyone understands that. Sta I'm not promising anyone anything.

(41:20):
I'm just saying when you look at the numbers, that's
what we see from twenty ten to now, is that
the markets always always recover, and even before then the
stat if you look before twenty ten, that number is
even higher. But I just like to look in the
modern era with COVID and everything changing. The world is
different times we're in. But just everyone remember that that
that recovery is almost a statistical inevitability. So just everyone
remember that. Don't panic. If you have the risk tolerance

(41:42):
and you have cash on the sidelines. I actually would
buy right now if you're okay with that. But if
you're someone that's very conservative and this is really making
you nervous, and buying right now just seems like the
craziest far fetched idea. I always say, just talk to somebody,
call us. We can help you make those decisions and
see if it's worth your your risk. And if you
want to just talk to some friends. Just make sure
you talk to someone before you make a big money move.

(42:03):
But right now, when if you look at history, it's
a fantastic in my opinion, it's a fantastic buying climate
if you're younger, more aggressive, and you have a higher
risk tolerance. And now, last thing, BEV, and I'm good
on this now. The last things I tell people to
do is it's a great time right now to do
what's called asset rotation. Now what I mean by that
is is we have clients with us that hear everything

(42:24):
I say, Bev, and they're like, hey, Ov, I hear you.
You know, I know you train me on this, and
I know this is what you think. But at the
end of the day, man, my emotion is too much.
I've got to make adjustments. And BEV, I always respect
my clients that have worked longer than I've been alive,
and they've built up their money and they're like, you
know what, I just want to I just want to
make a change, right I totally understand and respect that
if they want to still go according to kind of

(42:45):
those emotional impulses without being crazy, obviously, But one thing
I tell I tell clients to do is asset rotation.
Right now. What that means. Asset rotation means looking at
your portfolios and just making small to medium size tactical
adjustments to help make sure that if another drop happens
in the future, it won't be as violent or sharp
as what we're seeing right now. Because if I have

(43:05):
a client that panicking right now with a five percent
drop in the market, that means that we mischaracterized how
risky they were as an investor, and we got to
make some adjustments. And you know that all is very
case by case. But what I mean by that, if
we have a client that has a portfolio and I
told everyone a couple of shows a go bev. I'm
a big fan of what's called a RILA. It's a
registered index linked annuity. Right those are some of my

(43:27):
favorite vehicles that I usually roll HIC. I roll assets
over from four to one k's and four to three b's.
So when a client hires me to manage their wealth,
that's usually one area that I put into their plan.
It's called a rila ri la and those vehicles are fantastic,
right if I have a client that comes to me.
A great example of a couple of days ago, we
met a client from a big biotech company. He was
an executive and he had over probably one and a

(43:49):
half million dollars worth of just straight stock with a
company he worked with, and it was highly appreciated stock.
So what he told me was, lv I made all
my money. I don't want to stay with all this
money on basket with one company. I want to change
strategies right now. Because I think his stock was down
about three hundred thousand dollars this year, this month alone,
So he was a little bit fearful. You know, he
was at the end of his working years. He wanted

(44:10):
to move it into something more safe, but still that
would grow for him. And that's what I mean by rotation.
You never rotate in the cash where your money can't
continue the journey of growth. You never want to move
it into the bank in my personal opinion. But what
we did for that gentleman, we shaved off and sold
some of his stocks, right to get him off of
that train and to get him diversified. Moved it from
stock over to that Rila portfolio. And what I love

(44:31):
about those rilas it's built for the entire It's built
for basically all weather. It's a weather proof strategy. Right,
So when the markets go up, the good thing about
it that gentleman will continue to make money because that
Riyla is invested in things like you know of course
you're s and P five hundred Nasbagdal. He gets to
participate in the upswings of the market just like anything else, right.
And the best thing about that Riyla, when you moved

(44:52):
money into those kind of more defensive strategies, the good
thing about is a lot of investment companies will actually
give you a buffer and a fluid on your portfolio.
So my retirees that are looking for that right now
where you want to drop money and still make money
in the markets and the good days, but have a
buffer to protect your money into bad days. Some of
these companies offer a ten percent all the way up
to forty percent. Downside buffers, well, they'll absorb up to

(45:15):
forty percent of losses if the markets keep bleeding. So
it's a great way to make sure that you're not
off the train and you don't sell all your stuff
to put it into the bank account. If the markets
jump up ten percent, usually you're going to be up
ten percent. If the market you're up twenty, you'll be
up twenty or maybe up to a certain cap rate
that's really high. But the best thing about it is
you can still get the best of both worlds. You
can make money in the good days and then win
the markets. And then let's say I'm wrong and we're

(45:35):
up for a forty percent drop this year, praying that's
not the case. But you know, it gives you peace
of mind knowing that overall you have some kind of
defensive mechanism to protect your money if the markets start
getting worse and worse and worse, and that way, your
your nest egg is protected. So that's my thing. I
never want clients to jump off of the train into cash,
but you can change your money around to where you
can still kind of build it for the good, the bad,

(45:55):
and the ugly. In strategies like Ryela's and other things
that we coach our clients through to make sure that
we have it built for the good, the bad, and
the ugly. So those are things that I like. Again,
it's asset rotation, just moving your investments around into different
vehicles and strategies to make sure that you're comfortable. But
again that asset rotation does not include cash. I never, ever,
ever would take my client's assets from a stock and

(46:16):
move it into cash unless they absolutely needed that money.
And now, like I said earlier, the best thing to
do right now is to take money from cash and
actually buy stuff right now, take it off the sidelines,
and if you're okay with it and you're comfortable with it,
you can buy good investments at a discount while things
are taking a break. So but those are those small things,
flash time, medium sized strategies. I like just making sure
you have a game plan for if the markets get worse,

(46:37):
and also to make sure that you inevitably rebound, like
I mentioned earlier, not if, but when the markets come back.
So that's a great kind of quick thing. Last last
thing on that question, we won't get into taxes too much. Today.
I think I'm going to dedicate the whole next show
to that, to be honest. But if you are looking
at if you have stocks right now that are really
down in your portfolio, it's actually it talked to your

(46:59):
tax advisor first, and talk to your financial advisor. But
it's actually a decent time. A lot of my clients
have Tesla stock right now where it's down twenty five
percent in thirty days. You can actually trim or sell
some of those losses if you want, and if it
makes sense. Remember it's called tax loss harvesting. You can
sell some of your investments while they're down right, realize
the losses, and use that to offset your games and

(47:21):
your portfolio to lower your tax bill. I said it
before on previous shows, but I want to keep on
saying it that tax loss harvesting, in my opinion, would
make sense if you want to trim some of your stocks,
get out of certain positions that may have led a
little too much, and use those to lower your tax
bill for the year. If you don't have games in
your account where you can offset with that loss, then
you can write it off against your ordinary income tax
to lower your general tax bill and you file for

(47:42):
this year. So just remember that it's called tax loss harvesting.
And of course one last thing Roth conversions. It's a
great time while the markets are down to convert money
from pre tax to ROTH. I'm not going to go
into that today for timesake, but if you are one
of those that's been interested in ROTH investing where you
can grow tax free wealth for your future when market down,
that's usually when I go into conversion though, because you
can now convert a portfolio that's lower in value. When

(48:05):
your portfolio goes down in value and convert it to
an after tax ROTH, you pay tax. Of course, I'm
a lower dollar amount, not the previously higher dollar amounts.
You actually save some money in taxes by doing that.
Take it from pre tax, move it to ROTH, invest
it in very similar investments. When the market's bounce back,
you'll make money in the difference that ROTH portfolio will
grow hopefully the same way, but that money will grow

(48:26):
tax free, and then you can live off of the
earnings tax free when you retire. So that's why in
this time it's actually a good time to move money
into WROTH. If you ask me, I need another thirty
minutes to go over those details and we'll wait until
we have people called again exactly. That's very rough territory.
But the main thing is roth. It's a great time.
Selling some stocks for losses if it makes sense, could
make sense for your tax bill this year, and of

(48:48):
course asset rotation and then making sure you buy while
things are down if you have the time horizon, and
then get for it.

Speaker 5 (48:54):
Okay, all right, hold on, ALV, take this break and
we're gonna come back. We are taught with our Certified
Financial Planner Practitioner lp L Wealth Strategists. We are talking
about mastering your money fears. You have a questioner two
for LV nine zero one five three five nine three

(49:15):
four two eight hundred five zero three nine three four.

Speaker 3 (49:19):
Two eight three three five three five.

Speaker 5 (49:22):
Nine three four two, or you can email me your
question at Bev Johnson at iHeartMedia dot com.

Speaker 3 (49:31):
Bev Johnson at iHeartMedia dot com. You're listening to w
d I A the Bevjsial.

Speaker 6 (49:53):
Got something to say? Say it next with Tennessee Radio
Hall of Famer Bev Johnson on w d I E.

Speaker 1 (50:21):
No over the working hard to break you outa day Now.

Speaker 3 (50:30):
Sell and welcome back.

Speaker 5 (50:52):
We are talking with our certified financial planner practitioner l
P L Wealth Strategist l B. Plumber Junior hold on,
LV got Pam holding, Hi, Pam, how you doing.

Speaker 3 (51:06):
I'm doing well in.

Speaker 8 (51:07):
You I'm fine.

Speaker 3 (51:09):
What's your question for LV?

Speaker 8 (51:11):
I'm trying to figure out whether it's the best recommendation
for my fourteen year old grandson. I like to invest
some money for him, and I don't know if I
should put it in a roth ira A or if
I should invest it in one of these low stocks
that he mentioned.

Speaker 3 (51:29):
All right, thank you, Pam. We'll get the question from LV.
Thank you for listening.

Speaker 8 (51:33):
All right, I'm from Flint, Michigan. Listen to you then, Flint.

Speaker 3 (51:38):
How's the weather, Pam?

Speaker 2 (51:39):
Me?

Speaker 8 (51:40):
I know, I'm Pam.

Speaker 1 (51:41):
Thank you, Pam.

Speaker 3 (51:43):
All right, thanks bye bye.

Speaker 1 (51:46):
LV.

Speaker 5 (51:46):
We have Pam in Flint, Michigan. And that was a
good question LV. She wanted to know about your investing
for her fourteen year old grandson in a rough or
or something else.

Speaker 3 (51:57):
LV.

Speaker 2 (51:59):
Yeah, yeah, no, great, fantastic question, Pam. Yeah. And by
the way, I've never been to Michigan before. I don't
know why.

Speaker 3 (52:04):
Oh no, probably now you got to get up there
to Michigan.

Speaker 2 (52:09):
Yeah, I really need too. Yeah, people make fun of
me because with my wife and I we travel a
lot of places around the world, but we like we've
never been. We just went to Atlanta for the first
time two days ago. Down there have clients in Georgia. Yeah,
I never I love the city. I wish like I've
been there. We stayed in the Buckhead and kind of
went to downtown and it was an awesome city. So
we had a fit. We had a blast over the weekend.
So anyway, but yeah, so those are those things, Yeah, yeah,

(52:32):
those are That's that's a great question, she asked about
her fourteen year old son. What's the best way to
start all my clients know, I'm passionate about this. I
think that if you're in that frame of mind, not
saying miss pam is, but if you're one of those
that you're saying, hey, listen, I got everything I need,
or the other school thought, like, I haven't done as
well as I wish I did, but I want to
make sure I set up my next generation and give

(52:53):
them a great start life. Right. If you're of that mindset,
the the game of fundancial planning becomes, in my opinion,
a lot more simple. I think the most important thing
to take in consideration for your kids, and the best
strategy you can do is just invest as soon as possible.
Whether it's a grandchild, child, great great grandchild, doesn't matter.
Just get something going because when you have a one

(53:15):
to five year old grandson or granddaughter or whatever, and
you're starting so soon in life for them, you can
build up the first hundred thousand dollars for them before
they turn twenty years old if you do it the
right way and if you're consistent, right and again, if
you invest for them. And that's one thing I do
preach against, bev. If you're one of those family members
like ms Pam who's has a grandson, I'm assuming again
he's fourteen, he's a little older, but still there's enough time.

(53:36):
But you just want to say, hey, I want to
put something into an account for them. She hit the
nail on the head. I am a big, big, big
as you already know, I'm a big fan of rath Irays.
I think it's the best investment for most people's situation.
It's one of the best investments in America for you
to drop money in for yourself and for any next
generation children. So I know there are roth irays that
are like custodio rath irays that you could set up

(53:57):
for a child's future. You gotta be careful, and I
always say talk to your talk to your tax advisor
for that because they have roth I raised, like I know,
a fidelity for kids, and that are tax advantage and
it's for children to have that do have earned income.
So that's the one thing you got to make sure
you're clear on if you have a fourteen year old
or a teenager that you're trying to invest for. I
do think a ROTH is by far the best thing
to invest in for them. But the account is managed

(54:20):
by an adult, which will have to be the custodian,
which I'm assuming will be Miss Pam. And then when
that child hits age of majority, whether it's eighteen or
twenty one or twenty five depending on your state, that
becomes their money. So remember this, if this fam if
you set it up in your fourteen year old's name,
would I think the ROTH is the best thing. So
you can invest in stocks and bonds and all the
diversified investments I love and most people love, and you

(54:41):
can grow that money tax free for your grandson as
long as he wants, but just remember the caveat to
that is that it becomes converted to their money when
they turn age of majority in the state that they
live in. So he could theoretically turn around when he's
twenty five or twenty one years old whatever and pull
all that money out, and therefore it obviously would compromise
the entire plan. Like you want the money to grow

(55:03):
for the next twenty thirty years for your grandson. So
if you're okay with that, and you believe you can
coach up your your your next generation and they're going
to be responsible, And I think that the longer time
you give a period of time to invest with, I
think the best vehicle in America is the Roth for that.
And in the Wrath, I would just simply I can't
give you direct advice because I got I gotta talk
to you. But in general, index funds are great. You

(55:24):
can invest in fxai X, which is just a Fidelity
SNP five hundred index fund where you're investing in the
American economy. You can invest in the Fidelity Select Tech
Portfolio that just does tech stocks. So as long as
you have a stock driven long term portfolio set up,
you can make a lot of money in that for
your children and grandchildren. As long as you tell them
to leave it alone. If they come and take it

(55:45):
when they're twenty one twenty five years old, that NULLI
finds the entire purpose. But if you just if you
just tell their parents about it, you know, even tell
them that and say, hey, listen, you don't touch his money.
And unless you absolutely need it, and once God calls
you home, you still you know they'll they'll they'll listen.
In my experience, they will listen if you have a good,
responsible child. But I do love the wroth. And one
last thing I'll say, if you're one of those this
listing and you SAYLV, I don't trust my grandson or

(56:08):
my granddaughter, Yeah, I want to keep control of that
money because I know he or she's going to spend it.
I honestly, at our firm, we keep it kind of simple.
If we want to get you know, you give up
those fancy tax benefits of a wroth. But if you're
more concerned about the element of control over that inheritance
for your child, we usually to be honest men, Like
we set up an account where it's just your account.

(56:28):
If you're our client and you want to set it
up for your grandchild, we'll just say, hey, let's drop
in a few thousand dollars into a normal account, but
we put in what's called a TOD account that stands
for a transfer on death. So in other words, you
set up little Jimmy or Jennifer's account. It's your account,
nothing changes. They can't come and take it when they
turn twenty one years old. It's your portfolio, but if
you die, it transfers to them automatically, and then it

(56:50):
becomes their portfolio after you pass away. So, in my opinion,
if you're okay to give up the fancy, tax free
nature of a wroth and you want to really more
concerned about making sure that's preserved. If God's good and
keeps you here for thirty more years, you know that,
then usually that TOOD account, in my opinion, is this
is the best way to go to make sure overall
that you retain control, but we can still grow for

(57:11):
your family member. So so bottom line, TOD if you
want the control on your account and your money, but
a ROSS in my opinion, probably one of the better
ways to give money to your kid. And if you're
going to operate on trust and faith that they're going
to leave it alone for the next twenty thirty forty
years and let it grow tax free to the million
bucks before they hit retirement age. So long term ross

(57:31):
keeping control would be the transfer on death Brokeridge account. Okay,
all right, thank you for calling me, Pam. I got
to learn about you. That's not advice. That's not because.

Speaker 3 (57:41):
He has clients all over, all, over all over.

Speaker 2 (57:45):
Just man.

Speaker 5 (57:45):
So ELV, do you think it's more important now more
than ever to work with an advisor. I get the
sense that so many people are overwhelmed with their emotions
and they need someone to talk to about their money.

Speaker 2 (58:01):
Mm hmm yeah, yeah at THEV you know. And it's
funny you say that. As you were speaking, one of
your I can't say a name, one of your good
friends just text me and said that she feels better
after listening, do a lot better. You know her very well,
so you know, it's one of those things. That's what
I want. That's what I love about this job. I
just you know, I don't have the answers BEV. And
I think sometimes people me, they expect me to have

(58:21):
all the answers. I don't I have. I have a craft,
I have a knowledge base. I try to help people
with making good, smart decisions and help them build well
for themselves and their families. That's it. And making sure
educate as many people as I can on this crazy world.
So but right now, BEV, with all the bullets flying
again proverbial bullets flying everywhere, as far as policies and
the Trump administration and of course the global economy, all

(58:41):
this fear and worry about recessions and all that, like
this is a this is the time I say it
a lot, BEV. It's easy to be a good advisor
in the good times, right There was a lot of
good advisors in the last four years. A lot of
good advisors were putting money into the SMP. Everybody was
making money. Everyone was saying rad of their advisors because
they made them so much money. It was easy to
be one of the good guys last four years. But

(59:01):
I actually get excited when my client's call. I got
about four panic calls today after the show, So you know,
I get excited when clients call me saying, ELV, listen, man,
I need help. You need to let me know what's
going on. Do I need to panic, do I need
to move stuff around? Someone? I think earlier mentioned that
on the show that one of the questions we got,
and that's actually some of my favorite work of what
I do for a living. And because I know, and

(59:22):
I just I've done this long enough now that I
know that the most meaningful impact we make as advisors
is not making people money. That's like, we can make
money anywhere, right, You'll need an advisor to make money.
You can put money into the SMP and just ride
the index for the next thirty years. You can do that.
But I think when it comes down to the advice,
when it comes to the planning, the strategies, the vehicle recommendations,
coaching you off of the ledge, which is what I've

(59:44):
been doing all year, in my last fifteen years, in
the last three recessions and corrections I've been in as
an advisor, including COVID, there was not a single client
that I work with that look back maybe six months
after stuff like that's happening now was finally over and
they look back and said ELV man like, I thank
you so much for talking to me, because if I
were left to my own devices, I would have made

(01:00:05):
crazy wealth destructive decisions like selling all my four one
K and you know, taking money out of the markets
and all this, Like they a lot of clients, nearly
all of our clients are very grateful for the tough
times because not only does it help our clients get
better as an advisor, but it also helps us making
sure that overall we make you know, we show people
the facts. We show them, Hey, history has a trend,
and your fear is probably not going to happen, Like

(01:00:27):
you're not going to lose all your wealth. You know that.
That's really where the best advisors come into play, is
when they can really make sure that our clients use
us as a foundational beacon and ensuring that overall we
coach them through the roughest waters that the economy and
of course the political world can throw at us. Right,
So again, this is a it's a stressful time, but
it is one of those times where I know the

(01:00:48):
seeds were set. We're selling into people's lives, the advice
we're giving and really just getting people through these waters.
This is where our relationships are honestly truly forged at
the deepest levels, and to me personally, this is the
most rewarding part of the job, because I know in
twelve to twenty four months, when every things get better,
they're going to look back and say LV, thank you team,
lv's team, Thank you guys for making sure that we

(01:01:10):
made smart decisions and we did not act rash. And
you know we're stronger now financially and my family stronger
financially because of you impacting our lives, right, And that's
just again, that's what gets me up in the morning.
You're in times like now, so but anyway, that yeah,
the great time and one last thing, we're done. Just
for those that do want to call, we have those
consultations lined up for you. I think we are opening
up five slots for this time because we are booking

(01:01:31):
up a little in advance two to three months. So
if you call and that time doesn't work for you,
just be very patient with our team. They're here, They're
going to be here all day. If you don't call
right now, that's fine, email us or call us whenever
you can, and then we'll just tell them you're from WDIA.
If you're one of those that is panicking and you're
go after everything I said today. If you're still one
of those like OV, I'm still scared, you know, just

(01:01:53):
tell them where you are, give them as much context
as possible. If I've got to move some things around
to talk to you a little bit sooner, I will,
But just give them don't just schedule an appointment. Just
tell them what you need from us and give our
team context and they'll they'll schedule you appropriately, because I
do have a heart for this bev. If I know
someone is truly panicking and they got to talk to
me sooner than later, and maybe that's the beginning of

(01:02:13):
a great lifelong client relationship, I will move some things around.
I'll stay late, I'll come early. I usually do kind
of you know, bust it a little bit to make
sure I take care of those clients and get them
over the ledge. So if you're one of those new
ones that just needs to talk and for me to
look over everything with you, help you with some planning
and look at your strategies. Just tell them, hey, I'm
a panic client and I want to talk to and
then we'll move some things around for you, even though

(01:02:33):
you know, but we'll do our absolute best to accommodate
you as soon as possible.

Speaker 5 (01:02:36):
Okay, okay, and any other final thoughts at LV that
you may have for our listeners today.

Speaker 2 (01:02:43):
No, I think I've I've said everything I could today
without going another hours. I hope everyone took away from
my tear of talk and my economics talk and just
kind of those small things you can do right now.
And again I said it before, everyone, just don't panic.
God's always in controls, but I believe in heartily, and
we've been through worse and we're going to be through this,

(01:03:03):
so everyone hang in there. I'm really excited for the
next show next month and we'll kind of see where
things are going. I think our outlook will be a
lot clearer than today, so I should be able to
go over some updates next month and what's going on
out there. And again I look forward to those that
are calling, and I look forward to serving whoever I can,
as far as listeners calling them to those consultations. So
thank you again for the opportunity, beeth You.

Speaker 3 (01:03:23):
Are so welcome.

Speaker 5 (01:03:24):
LV Plummer Junior, our certified Financial Planner Practitioner LPL Wealth Strategists,
and don't y'all forget LV is taking those first five
calls today nine zero one seven four eight zero zero
five zero four free consultation nine zero one seven four
eight zero zero five zero. If you can't call book

(01:03:44):
online at Pwsplanning dot com, send them email by contacting
the contact us button to schedule your free complimentary consultation
with LB.

Speaker 1 (01:03:58):
LV.

Speaker 3 (01:03:58):
Did good work today. I even learn some more things.

Speaker 2 (01:04:02):
Good good. Hey, that makes my data here bed one.
We'll learn one thing and I'm happy, all right, lany
you so much again. I appreciate it. Okay, and you
have a good week.

Speaker 3 (01:04:09):
Two okay, and you two LV, and be safe out there.

Speaker 2 (01:04:13):
This ma'am you as well, all right, see you sir.

Speaker 3 (01:04:15):
Bye bye you too. That is I love this young man.
He is so Najiba.

Speaker 5 (01:04:20):
LV Plummer Junior are certified financial Planner practitioner. Give them
a call nine zero one seven four eight zero zero
five zero. All right, y'all, we are getting ready to
go to the other side of the BEB. Johnson Show.
I am going to open up our lines for you.
I have some new goodwill announcements that you may be

(01:04:44):
interested in. I'll tell you about that. It's all coming
up next right here on w d i A the
bevj S Show.

Speaker 6 (01:05:06):
Whether you're in Arkansas, Tennessee or Mississippi on Facebook, Twitter,
or Instagram. Thank you for listening to the BEB Johnson
Show on w d i A Memphis.

Speaker 3 (01:05:43):
Thank you callers.

Speaker 5 (01:05:45):
I want to thank you listeners for joining me this
day on the BEB Johnson Show.

Speaker 3 (01:05:52):
You know we do, we really do appreciate you.

Speaker 5 (01:05:56):
So until tomorrow, please please be saying keep a cool, hey, y'all,
don't let anyone steal your joy. Until tomorrow, I'm Bev Johnson,
and y'all keep the faith.

Speaker 2 (01:06:20):
The views and opinions discussed on The Bev Johnson Show
are that of the hosts and callers and not those
of the staff and sponsors of w d i A.