LV Plummer Jr. CFPP

We're "Asking the Expert" with Certified Financial Planner Practitioner Laurence Plummer Jr., on The Bev Johnson Show on WDIA Radio.

Episode Transcript

Speaker 1 (00:02):
Don't Memphis probably presents the Beam Johnson Show.

Speaker 2 (00:08):
Let me you say, bethne.

Speaker 3 (00:14):
Me first, Let men you.

Speaker 2 (00:18):
Say she's gone camphist of gain no matter of the
problem she can have.

Speaker 3 (00:32):
So all the phone and the normal thing of my
she was there, Jimmy reading in the hair by challing.

Speaker 2 (00:44):
You to just keep the thing, went around pegging out
them Johnson Show. Because we got out in gay happen.

Speaker 4 (00:57):
You can hear every day re indeed, I ain't my
bell got me a missed if yah, good morning, good morning,

(02:09):
good morning, and welcome in to wd I A The
BEB Johnson Show.

Speaker 5 (02:15):
It is indeed a pleasure to have you with us
once again on this Tuesday, November nineteenth, twenty twenty four.
Enjoy this fabulous day to day. Get ready as we
do are talking. Yeah, well ask the expert, our financial

(02:38):
planner practitioner will be in this day talking with Lawrence
Plumber Junior, better known as l V. Yeah, we'll talked to.

Speaker 2 (02:51):
LV this day.

Speaker 5 (02:56):
See what's going on in the financial world.

Speaker 2 (03:00):
Yeah, what at your turn to talk?

Speaker 1 (03:02):
You know you can.

Speaker 5 (03:03):
All you need to do is dial these numbers five
three five nine three four two five three five nine
three four two if you are listening to us outside
the Memphis area, eight hundred five zero three nine three

(03:24):
four two eight hundred five zero three nine three four
two eight three three five three five nine three four
two eight three three five three five nine three four
two will get you in to us.

Speaker 2 (03:41):
Second hour.

Speaker 5 (03:41):
Also we'll be talking about the why WUCA, what's going
on with them. We'll learn about that next hour, So
put your ears on and get ready to listen and
get ready to.

Speaker 2 (03:54):
Talk as well.

Speaker 5 (03:56):
And if this day, this day, Tuesday November nineteenth, twenty
twenty four, is your birthday. Happy birthday to each and
every one of y'all out there who may be celebrating
a birthday on this day, we say God, y'all go

(04:16):
out and sell break your life.

Speaker 2 (04:19):
Yeah better, yeah better. When we come back, we'll.

Speaker 5 (04:24):
Talk to Lawrence Plummer Junior, our certified financial Planner practitioner
lpl Wealth Strategists, and me Bev Johnson on the BEB
Johnson Show on w d ia A The Bev Johnson Show.

(04:44):
It is a Tuesday, November nineteenth, twenty twenty four.

Speaker 2 (04:49):
Enjoyed this fabulous day to day.

Speaker 5 (04:51):
As I said earlier, he is back in the house.
Are Certified Financial Planner practitioner Lawrence Plumber Junior, better known
to US as LV and Securities and advisory services offered
through LPL Financial, a Registered Investment Advisor member of FINRA SIPSE.

(05:13):
The opinions express are those of Lawrence Plummer Junior, Certified
Financial Planner practitioner LPL Wealth Strategists, LV and Plumber Wealth
Strategies will be offering a complementary consultation to the first
five callers and first five people who book an appointment online.
For those who may be at work and cannot call,
go to PWS Planning dot com send LV an email

(05:37):
by clicking the contact US button to schedule your complementary
consultation with LV. That number to call, y'all nine zero
one seven four to eight zero zero five zero nine
zero one seven four eight zero zero five zero or
email LV at LV at PWS Planning dot com or

(05:57):
service at PWS Planning dot com. You can also navigate
to their website p w S Planning dot com and y'all,
he surprised me, Lord, have mercy. I was surprised today.
I'm looking at my phone. I'm thinking where is LV
call me? Or is my phone line act and a nut.

Speaker 2 (06:19):
But he's in the studio. He's in the house this morning. Yeay, LV,
Plumber juniors in the house. Good morning, l.

Speaker 1 (06:27):
V, Good morning Bev. It's good to see you in person.

Speaker 2 (06:29):
To see you in person, haven't you know what? I
haven't seen it while.

Speaker 1 (06:34):
And for everyone trying to figure out what we're talking about,
I usually call into the show. Yes, he did in
my office. Usually I got an appointment right before, right
after Society. I wanted the surprise Bev and Tracy and
vernon the team, and I wanted to make sure that
came face to face.

Speaker 2 (06:47):
I'm glad you did good.

Speaker 5 (06:48):
I'm glad to see you face to face because you know,
LV is a busy man, so he would call on
the phone because they be wearing them out at the office.

Speaker 6 (06:55):
They do.

Speaker 2 (06:56):
They be wearing him out at the office.

Speaker 1 (06:57):
But this is a much welcome break. And again I
appreach you. You have me as usual, and I appreciate
our relationship.

Speaker 2 (07:02):
I am so glad that you are here this morning.
LV and LV.

Speaker 5 (07:06):
I like this topic of conversation, focusing on what matters
and controlling what you can control.

Speaker 2 (07:13):
Yes, ELV, we're gonna dive right.

Speaker 5 (07:15):
On into the show this morning.

Speaker 2 (07:18):
There seems to be so many.

Speaker 5 (07:20):
Things happening out there as we wrap up the year.
We already know we've gone through the presidential election.

Speaker 2 (07:26):
Glad that's over.

Speaker 5 (07:27):
There's wars raging, LV, There's so much changing and things happening.
What's your goal today with helping people navigate these current events?

Speaker 1 (07:37):
Fantastic question here bev. Now let me as you already know,
we've been working together long enough. You know my stance
on politics, right, you know how I try to be
a neutral party. One disclaimer before we get into this,
because this is a very emotionally we'll say, emotionally volatile
topic right now, right, yes, So my thing is is
that whatever I say everyone listening today, this is not
an endorsement of either side, red blue, Republican Democrat. I

(08:00):
am so over the pit right now. I know and
that I don't know. I know you know how busy
it is. I will say this without any hyperbole. This
has been the busiest two weeks of my entire fourteen
years of doing this job. Like I want to tell
you everyone I have had. I was just telling Verne
outside in the hallway that this has been where a
situation where I have been probably forty percent advisor and
sixty percent psychiatrist telling people now, im down, it's gonna

(08:22):
be fun. The world's gonna keep spending like it has been.
It has been a ride. So my thing today is
I wanted to make sure that we discussed, really, what
are those things that everyone, regardless of whether you agreed
with the pre recent election or whether you disagreed with
the with the election, Like, what is it you should
be doing as far as those controllable factors? Yeah, what
you should be getting into, what you should be doing

(08:43):
with your money again, no matter which side of the
value stand on, and again about making sure that you
have a plan and you stick to a plan. So
really today is that really more of a pragmatic session
about both sides of the aisle, right, And I wanted
to make sure I gave everyone as much information as
I could, So take plenty of notes if you can.
And I wanted to ensure that every one feels better
next year once the inauguration is done, regardless of which

(09:03):
side you voted for. I want everyone that either joins
with us or doesn't to have a good financial strategy
for the good, the bad, and the ugly. That's the
whole point of today's call. And one thing I want
to say real quick, Bev, and again my two words
for those that can't listen to the whole session.

Speaker 2 (09:15):
Yeah, calm down right and calm down again.

Speaker 1 (09:19):
Calm down. Number one now number two is this And
I just like to tell you know a little two
second story, Bev. Again, I've seen it from both ends
of the spectrum. I had one client last week that
came in. She's a physician, right, so she came in
with all of her folders next to her chest, she
had all of her investments, she had all of her
documents from a real estate. She came in shivering literally
almost to the point to her core of like just

(09:41):
terrified of what's going to happen next year. And my
thing is bad. We have been through how many elections
now at this point, and I had to make sure
I went back in the past and say, listen, missus, client,
I know that there's things that you agree with and
don't agree with about what's happening. But the one thing
I cannot let you do if I'm going to advise you,
is I again, which is my career, is to make
sure that you separate yourself from your emotions right now

(10:03):
and ensure that you don't make any rash decisions. That
this client was about to sell every dollar of her
one and a half million dollar portfolio.

Speaker 2 (10:10):
Oh my god.

Speaker 1 (10:11):
She was fearful that next year that the world was
literally going to go into this apocalyptic economic scenario, right,
that the world just gonna end next year. Okay, So
I had to coach off the ledge saying, listen, ma'am, okay,
I understand there are things that there's a lot going on,
but the main thing about her I had to tell
her was listen, just you have to make sure we
approach everything that you decide to do with reason, with logic,
and if you are really truly concerned. We'll get into

(10:32):
this later. There are some things that we can't talk about,
even though it goes against my advice. If you're one
of those we call them doom and gloomers, that just
really really says LV. Hey, I hear you. I know
you're being an optimist, but I'm still scared. Towards the
end of the show, we'll talk about a few strategies
that we have been employing the last couple of weeks
for our clients where again they've kind of gone beyond
the point of the traditional investment. So we will discuss

(10:53):
that if you guys stay tuned. And one more thing here. Again,
I've seen both end of the spectrum. I know there's
a lot of things going on right now post election.
I know Bitcoin went crazy, I know there's a lot
of things in the crypto space. There's other investment sectors
that have taken off, and you know, there's a nice
little bump after the election was decided a couple of
weeks ago. So one thing I wanted to tell everyone,
regardless of whether you got one dollar or one hundred

(11:13):
million dollars, maintain your discipline and maintain your diversification no
matter what. Do not overreach yourself and go into areas
that because you saw a Facebook article that you think
this is going to boom and go two x overnight.
Make sure you stay put, stick with your advisor, have
a good plan, stick with the plan, do not lose
your discipline as far as your buy in strategy. And
also do not sell based on things you're hearing out

(11:34):
there in the world and the news and that the
water cooler either. Just make sure you talk to somebody
before you make decisions. That's all I wanted to start
the show with by saying every discipline and diversification, remember
those teams.

Speaker 5 (11:44):
I love that, I love that, and again I love
l vto y'all, calm.

Speaker 1 (11:48):
Down, please all caps, bold print, just please, no matter what,
and we will talk more. For those that where I
don't give you everything you're looking for from the show,
make sure to call. Those consultations are open, so make
sure to call. We can always discuss at one on
one and talk about your emotions and figure out what
we can do to make sure that you feel better
going into next year.

Speaker 5 (12:05):
If you're one of those sounds good, well, ELV, let's
talk about the most important thing you coach your clients about.

Speaker 2 (12:13):
Controllable factors.

Speaker 5 (12:16):
What are some of the things people to be doing
no matter how they feel about the election and where
the country is headed.

Speaker 1 (12:23):
Yeah, so here's the thing that I'm gonna go with
a bullet point list for this answer. Okay, for those
taking notes, this is these are things that you know
whenever we have a lot of uncertainty. You look, you
look at the news this morning, though you saw there
was an escalation in nuclearization with Rshia and Ukraine and
the US is involved. Yeah, you look at you turn
the stock markets this morning, things got a little shaky,
and I wasn't prepared to talk about that today because
it looks like that situation over overseas is getting worse

(12:46):
right now. To answer your question, we have things that
are happening overseas geopolitically. We have things happening here on
our shores domestically. So what I wanted to do was this,
no matter what craziness is happening out there, whatever's happening
in our political markets and our local economy, still wanted
to make sure that everyone had at least seven to
ten things, no matter what's happening out there, you should
be doing between now and December thirty. First, Okay, I

(13:08):
know Christmas season's coming up, and probably all this news
that's controlling the markets back and forth is going to
probably get a little crazier. So no matter what, I
created a small checklist of questions you should ask yourself again,
regardless of what happens in Russia, regardless where the inauguration
goes next year, and where policy goes, I still these
are the things where I say, hey, client, I know
you're emotionally charged. I know there's things going on right now,

(13:28):
but have you asked yourselves these questions? And have you
gotten these things done? If you haven't, go do it
right now. So I wanted to throw those out there
real quick today. One of my favorite quotes that I
live by is that the markets are non partisan. Right, Yes,
the markets. And for everyone listening that has seen articles
and heard all these news pundits and people talking about
what's going to happen and what's not, remember the markets

(13:49):
are non partisan. In other words, it does not care
versus blue or red. The markets are neutral. And again,
what's really controlling things right now? It's going to be
policy me and again the things that are happening overseas
that that really helps again the ebb and flow of
the market. So just remember, maintain a neutral stance when
you're making these decisions and when you're going through this checklist,

(14:10):
don't let your emotions take over. And here's the kind
of the bullets I want to throw out there. So, OK,
these are eight simple and effective things that I wanted
everyone to get done before the end of the year.

Speaker 6 (14:18):
BEV.

Speaker 1 (14:19):
If we take on a new client, these are the
questions I'm asking if I'm taking on a client that
has been with us for ten years and we're doing
our year interview. These are the things that I ask, right, So,
whether you are red or blue number one, and this
is the easiest thing, bev evaluate your savings, right, do
you have money in the bank. If you have money
in the bank, simple question, how much is it earning? Right, bed,

(14:40):
You'd be surprised when I ask someone that question, they're like,
you know, most of the time I asked someone, Hey,
if you have five, ten, fifteen, whatever, fifty thousand in
the bank. My first question I ask people when it
comes to the liquidity plan is what is that money
doing for you? And most people their responses, I don't know.
It's maybe earning zero point five percent, zero point seven whatever.
For everyone listening that has money in savings, regardless again
of the elections, right you should be earning between three

(15:02):
and five percent yield on your savings account right now.
If you're not, stop listening, go to the bank and
make sure you do either a high yield savings a
six month CD or make sure you get something that's
on the higher yield of the spectrum. When it comes
to your savings right now. I've met people in the
last year, bed really two years, that have their money
to sitting in the bank doing absolutely nothing, and they
haven't really evaluated the interest rate climate we're in right now.

(15:25):
So for those that don't know, interest rates are still
high and it's still a great time to do what's
called a high yield savings account. You put your money in,
it's just as low risk as any other bank account.
You can get your money in and out whenever you wish,
and it's literally a matter of would you rather earn
zero point five percent or whatever a normal bank account
offers or savings account offers, or do you want to
get earn four to five percent interest? And my thing

(15:46):
is this, get it while the getting's good, because rates
are starting to get cut regardless of again of the
election next year, rates are coming down based on the
Federal Reserve. So make sure you get it while you can. Again,
at least four to five percent yield is what a
lot of banks and a lot of online banks are
off for right now. So make sure that you are
controlling what you can control and ensuring that your savings
is working for you. Okay, Number two, do you think

(16:07):
tax rates are going to go up, right, That's a
big question that I think I'm getting in the political
spectrum right now. If you think tax rates, if you
have a political position where you think tax rates are
going to go up right after the inauguration and after
Trump's Tax Cuts and Jobs Act is probably going to
be extended, right, then we need to make sure we
start planning for that. So that's something I'll leave to
the consultations because that's very complex territory. But if you're

(16:28):
one of those that thinks, hey, I'm thinking that we're
going into an increasing rate environment as far as tax
rates in the next one to four years, then you
need to do things like converting your money to WROTH,
like accelerating your income to pay tax now at a
lower bracket so that way you can enjoy that money
tax free in the future.

Speaker 6 (16:43):
Right.

Speaker 1 (16:44):
I'm a big, big fan, and I'll never do this
show without mentioning the word WROTH investments. It's a in
my opinion, for most people, not all people, but for
most people, it's a great time to look into tax
free investing, which is ROTH portfolio. So that's number two.
Do you have WROTH? If not, talk to your advisor
and make sure that you figure out a strategy.

Speaker 6 (17:00):
All right.

Speaker 1 (17:00):
Number three, have you achieved your full match at your job? Bev?
You know I've spoken to this about this ad nauseum.
If you work for an employer, if you work for
a FedEx, an international paper, if you work for anybody
that is offering you literally free money right for investing
in your four one K. It doesn't matter who's president.
That money is there. It's on the table. And Bev,
the one thing that I despise seeing from a new

(17:22):
client is I have them come in and that I say, hey,
do you have a four oh one K right? And
they say yes. I say, okay, well what's your employer matching?
They save me, okay, five percent or seven percent? I
ask the client what are you putting in? And they say,
you know, most of the time I hear I say, hey,
you're one to three percent. They'll probably say three to
four percent. And I say, okay, well you're leaving about
two to four percent on the table because you were

(17:42):
not putting in enough to get that full match money
from your employer. And one thing I tell people, BEV,
is like I don't want even one even thinking about
opening up other accounts or doing more sophisticated strategies. I
really tell people, don't move, don't blink, don't do anything
else as far as your cash flow until you've put
it enough to achieve that free match from your employer.
That's a vital, vital piece of your retirement. And again,

(18:02):
regardless of where the political world is, this is one
thing that is going to stick. In my opinion, that
match is always going to be on the table for you.
If you're younger, if you're working, you're accumulating wealth. Don't
leave that free money in the table because you're taking
your money and doing other things. Focus on getting that match. Again,
regardless of who's in office. Right number four, I asked
the question, did you max out your retirement plans at work?

(18:23):
Right to minimize your taxable income. If I have a
client that says, hey, no, I have not maxed out
my plans and put in twenty two thousand a year
or seven thousand and an IRA, whatever they're putting money into,
then I tell them why not, or I ask them
why not? And then we find out a plan to
make sure that we're hyper saving and filling up those
buckets as much as possible. That's something you can control,
regardless of political outcomes, to make sure that your money

(18:45):
is flowing to the right places and ensuring that overall
that you're making the most of your wealth building opportunities.
So make sure if you're eligible and able to max
out your plans before the end of the year. Okay,
all right, last three of them. Have you contributed to
an HSA? I need to do a whole show on
this match. HSA is health savings account, right, it's one
of the best, in my opinion, one of the best

(19:05):
investments in America to drop your dollars into. Either before
the end of the year, after the end of the
year really doesn't even matter. If you have access to
a health savings account and you are eligible for one,
and you're not putting money into it, nine out of
ten times, I think you're making a mistake. And that's very,
very rare. I see a client that actually has access
to an HSA and they're actually actively contributing to it.

(19:27):
So for those that don't know, real quick ten seconds
and HSA is a health savings account. It's one of
the very few investments in America that the irs and
Uncle Sam will let you get three tax benefits for
you put eight thousand dollars a year into that. If
you're able to right on that eight thousand contribution you
put the money in, you get it right off on it.
As you invest that money the HSA, you can invest

(19:48):
in stocks, bonds, real estate. That money can grow tax
free forever as long as you want it to until
you retire. When you retire, the best thing about it
all that money you've made over the last ten to
twenty years, however long you've invested, that money can be
pulled out for health care expenses fully tax free, fully
tax free.

Speaker 2 (20:03):
Wow, I didn't know that.

Speaker 6 (20:04):
So and you.

Speaker 1 (20:04):
Already know, Bev. What is the most expensive thing about retirement?
Is it traveling? Is it leaves your no? What is
health care?

Speaker 6 (20:10):
Health?

Speaker 2 (20:11):
Healthcare?

Speaker 1 (20:11):
It is the And I've already gone on a political
rant about this, I think last year if you recall
when I was talking about Medicare and Medicaid and all
these other systems we have. I hate to say it
again without going on to another rant, but health care
is you know, American health care is not going to
be there for when people need it most, BEV. You
know that. It's like when you hit seventy eighty ninety
years old. You need a nursing home, you need you know,
you need a skilled nursing facilities, private health care, whatever

(20:33):
you're going to do when you get older. Remember, Medicare
is only a partial hedge against those expenses and costs.
That's why for those that are younger, now build it. Now,
build up your savings pre saved for healthcare. Throw it
in that HSA, invest it, build it. You can have
over one hundred to two hundred thousand dollars if you
start soon, if you're in your thirties by the time
you retire, and that money can be a defense system

(20:54):
against those expenses that are inevitably going to come. So
I preach about that every day. Bev and for those listening,
if you don't have an HSA, check to see if
you're eligible. If you have more questions, call me. We'll
talk about it.

Speaker 2 (21:03):
I love it, I love it, I love it.

Speaker 5 (21:05):
If you've just tuned in this day, we are talking
with l V. A Plumber Junior are Certified Financial Planner
Practitioner lp L Wealth Strategists And don't forget y'all that
for the first five LB's he booked up. He had
to go down to five. But that's okay, LV. That

(21:26):
means you working brother. For the first five callers, y'all
who call nine zero one seven four eight zero zero
five zero nine zero one seven four eight zero zero
five zero, you will get a free consultation with LB.
Cannot call, Just go to Pwsplanning dot com, send LV

(21:49):
a email, click the contact us button to schedule your
free complimentary consultation on today.

Speaker 2 (21:58):
Do it today because LB is booked. No, let me
give that number again.

Speaker 5 (22:01):
Nine zero one seven four eight zero zero five zero.
You can get in to LV so that free, so
you better call him before it books up quick. We're
talking with our certified financial Planner practitioner lv Plumber Junior
and me Bev Johnson on the Bev Johnson Show on

(22:24):
w d IA, The.

Speaker 4 (22:27):
Bev jon Show.

Speaker 7 (22:49):
You're listening to the Heart and Soul of Memphis, The
Bev Johnson Show exclusively on WDA.

Speaker 8 (23:29):
Hen you need ath.

Speaker 9 (23:39):
I'm telling you everyone see Ben talking everyone.

Speaker 2 (23:55):
Good morning and welcome back to w d i A.

Speaker 5 (23:58):
We are talking with our ex spurred, our certified financial
planner practitioner lpl Wealth Strategist lv Plumber Junior will get
back to LV, but I.

Speaker 2 (24:08):
Want to invite you all to the.

Speaker 5 (24:11):
Riskless Do More Wellness initiative join me on sat on Friday.
I'll be there Friday along with DJFM for free community
health and wellness event November twenty second, and they will
be there from nine am to three pm. You know,
I'll be there after I get off. But it's at
the Empire Beauty School, five sixty eight Colonial Road off

(24:35):
of Poplar. They're gonna have free health screenings, vaccinations which
shot r s.

Speaker 2 (24:40):
Every attendee will receive.

Speaker 5 (24:42):
A special gift and a chance to win a full
day of pampering. So don't miss out on y'all on
this incredible day. If you need more information, I want
you to go to Black Beauty and Wellness dot com
Blackbeautyan Wellness dot com. This is a free community health

(25:03):
and wellness event. It's happening Friday, November twenty second, nine
am to three pm and DJFM will be there. I
will be joining you all. I'll be there about two
o'clock I think thirty two o'clock. Yeah, I'll be there
to talk with you all and say hello. But don't
forget they're going to have free vaccinations, free health.

Speaker 2 (25:26):
Screenings and learn more.

Speaker 5 (25:28):
About beauty and yourself. And this is all being sponsored
by Riskless Do More Wellness. And I want to see
y'all on Friday, November twenty second at the Empire Beauty
School five sixty eight Colonial Road, sponsored by Riskless Do More.
We're gonna get back to LV and as we're talking

(25:50):
about focusing on what matters y'all and controlling what you
can control and LV I hear a lot of chatter
about the Trump trade beginning next year, Lord Trump trade. Well,
regardless of who someone votes for, LB, how are you
advising your clients to pay this Trump trade so they

(26:11):
can benefit if it happens.

Speaker 1 (26:15):
In times like this? Right BEV. It's like, yeah, here's
the thing. Regardless of the side. I know, I'm gonna
be a broken record today, but like again, regardless of
the side you support, I always am a fundamentalist when
it comes to investing, when it comes to financial planning,
and I don't even buy terms whether it's a Harrish trade,
if it's a Trump trade, if it's a Biden trade,
I don't really believe in that bit because, in my opinion,
that gives power to things that shouldn't have power when

(26:37):
it comes to the world of money. Right, There's a
lot of factors, not just presidential policy. There's a lot
of factors that come into play when it comes to
how clients build wealth, how the markets perform, and really
what the economy and how the economy reacts towards the
policy that is coming right and not saying the presidency
is not a factor. It definitely is a factor, but
it's not the only factor. That's why I don't like
terms like anything, you know, insert president name plus trade.

(27:00):
So here's what we're gonna say. If you're saying elva
hear you, I think you're wrong. I think that the
markets are in for a killer time in twenty twenty five.
We're seeing you know, and there's a belief that next year,
based on twenty sixteens, if it mirrors itself and history
repeats itself, that we'll have certain areas and industries and
sectors that should actually boom and should of course equate
to greater performance in the markets and greater wealth building opportunities.

(27:23):
So my thing is this, right, if I'm going to
give credence to the Trump trade term, right and say, okay,
what are the two things we're looking at where I
am preparing clients for possibly what we would see as
an economic expansionary time that's coming. Number one is tax cuts.
Like I mentioned earlier, right, tax cuts is probably going
to be in the key agenda now that there's a
red House and Senate. We're thinking that tax cuts are
of the Tax Cuts and Jobs Act of twenty sixteen

(27:45):
that Trump did push forward is going to be extended,
and of course that should be a lower tax climate
for a lot of business owners, higher net worth clients
and those that again are really focused on making sure
that they have the lowest tax bracket possible as they
build their businesses and have higher incomes. Right, So number one,
tax cuts should end up coming. And number two we're
thinking deregulation. Right, Deregulation is one big thing that Wall Street,

(28:08):
of course likes, and if that is something that does happen,
those two things, deregulation and the corporate landscape and also
lower taxes the sectors that we're looking at. And again,
everyone listening, how this really tapers down to you and
your family and your wealth building. Look at your portfolio, right,
because here's the thing, these are areas that I like
to invest in, regardless of the ISALUE stand in those

(28:28):
areas are and again what I'm talking about is the
stock markets, and of course anything where you're putting your
investments into every single month from your four to one
K I raise wherever you're investing, energy sector, communication services,
right banks and financials, industrials, consumer discretionaries, retail companies, consumer staples,
right utilities, technology, which is my favorite area, tech stocks, materials,

(28:49):
and of course healthcare, the healthcare and big pharmaceutical sector.
If you are not investing in those areas, again, forget
about the elections. In my opinion, those are if you
are building your wealth and investing in those areas, especially
big pharmaceutical companies and also technology. Personally, I'm not telling
everyone to go invest in those areas, but that is
where the money is right now, unfortunately, and that is
where things are going. As far as the NASDAK and

(29:11):
what we seeing in the performance in disease across the markets, Tech, healthcare,
and energy are probably the areas that we're looking at
the most, probably followed closely by banks and financials. So
if you're looking at your portfolio, yeah, I know what
most people are thinking. ELV I have no clue if
I'm investing in those areas. This is my first time
hearing about that, and I don't know even know where
to start if you're looking, if you don't know where
to start with knowing if you've invested in those spaces.

(29:32):
Because for my clients that come in and they are
generally optimistic and bullish about those areas because of the
Trump administration coming in and of course tax cuts and deregulation,
if those things do come to fruition, in my opinion
and what we saw as far as again the historical trend,
we're thinking those are going to be the areas where
you're going to want to be right if you are
again in that school of thought that we're going to
be into a period of economic expansion. So if you

(29:53):
need help, call us. If you don't know the answer
to those questions, call us, and we will help and
really dissect and look to see, Okay, how diversified are you?
Are you overexposed to one area, are you under exposed
and underweight in another area. That's one of the first
things I do that my new clients from the show
will test to beev is that you know, we call
that ISO we call that investment strategy optimization. Right, where

(30:14):
is your money now before you met us? Where can
we go based on what's happening in the short run
and the long run? And how do we optimize every
hard dollar you're earning as you work and as you
build your wealth for yourself and your family. And we
have to make sure, as I keep on saying repeatedly,
we have to make sure you're diversified and not overly
zealous to going into the other areas based on water
Crowler talk. So those are the areas that we like,

(30:34):
and those are the areas that we assess whenever we
meet a new client. Sof we need help with that,
call us and again we will make sure that your
portfolio is built for the good, the bad, and the ugly.
And we call that a weather proof or an all
weather portfolio. Right, make money in the good days and
protect in the bad days, because you know it's all
a cycle. It's all cyclical. Now, one more thing I
want to say in that question, Bev, is you know

(30:55):
I really want to make sure our clients and that's
something I'm really big on. My staff gets mad at
me because it's been much time on this when I
mean a new client. I if you've never been in
this world before, and even if this is your first
time hearing me or being on the show, if you're
a newcomer, A lot of people get overwhelmed with the
stuff that I throw at them, as far as like, okay,
like what is all the what are all these sectors?
What is this healthcare? Pharmaceutical? Most people only are concerned

(31:16):
about one thing. I can tell you my experience, bev, Yeah,
what is all this going to mean for me and
my family and my retirement if that's your ultimate goal.
So my thing is if you've never gone this far
into all these different industries, you've never really self educated,
or maybe you know it was your degree when you
were in college, and it's all kind of a foreign
language to you. Because most of the time when people
pull up their statements, it's like Greek when are looking

(31:36):
at there for one case, and they're looking at all
these funds, you're looking at all these investment options, You're like,
what in the world is gone? Even some brilliant people
that I manage have no clue like how this world works.
So just everyone that's listening, just remember that's that's our job. Right.
When you hire an advisor, my job is to make
sure that you understand this stuff, at least at a
fundamental level. They'll say, Okay, listen, I know how my
money is invested, and I know the risks, I know
the potential rewards, and I know that I'm diversified, and

(31:59):
I have a team of people that do this with
for me, so I don't have to worry about this stuff.
So I wanted to throw that in there because a
lot of clients when they come to me, they think
that I'm that I'm going to like take all their
money and they just like invest it on my little laptop. No,
we have like no over We have over thirteen hundred
clients and it's it's there's no way I could do
everything in house. So just so you know when it
comes to this, we're going to educate you in the
market step one. Then once you you know, a lot

(32:21):
of clients bed when they meet us, they want us
to take over their portfolios. They're rolling money over. They'll
make sure that they have an asset team that works
with us. At LPL my my parent company, and I
have third party Wall Street firms that work with me
to do the day to day trades, look at the markets,
believe or not. As soon as we saw that election bid,
I was up till four am because I knew it
was going to happen, any election, waiting for it to call.
Because the very next morning you saw what happened, the

(32:41):
market's moved and it yeah quickly.

Speaker 2 (32:43):
Yes.

Speaker 1 (32:43):
And for those that have never worked with the advisor,
I'm not saying this is a way to guarantee you'll
make money or guarantee you'll never lose money. But when
you have a team that's doing this for you, we're
ready up in the middle of the night making adjustments,
making trades, saying hey, who's going to win this election,
and we're making sure the portfolios are being positioned and
adjusted for what we think the outcomes are going to be.
So having a team do that for you bev If
this wasn't what I was doing for a living, I

(33:04):
would never do that on my own. I would definitely
have professionals do that for me so I can focus
on time with my girls, focus on time with my wife,
and making sure that over I can live my life
and let the professionals do their work for my portfolio.
So just for those listening that are again they're hearing
all these different news articles and all these things on
the radio and all on the internet, and it is overwhelming.
Remember that's the benefit of an advisor is that again,

(33:24):
we do this stuff for you. We educate you and
then we execute, educate and then execute, and then of
course the best thing is we keep you at the
date whenever crazy times like this are going on. But
just remember, though, if you need help with that, call us.
We'll look over your entire investment portfolio across all the
different spaces you're invested in, and then we will make
sure we form a strategy based on what's happening now
and more importantly, your long term goals when it comes

(33:46):
down to your ultimate kind of end game when it
comes to your wealth.

Speaker 5 (33:49):
Sounds good. Now, LV, I have to ask you this question,
what about the doom and gloomers, because you know you
have them out there. They are not high, a lot
of them will be about where the country is headed.

Speaker 2 (34:03):
So how are you coaching people through this?

Speaker 1 (34:06):
Oh man, So now I'm gonna get in trouble. So
you're right now here's now. I did say that term earlier,
dooming gloomers. That's my fault, not yours, But that is
I'm seeing a lot of that. And I already told
that mini story about you know I've getting I got
that first day. But when was the election? Two weeks ago?

Speaker 7 (34:23):
Yeah?

Speaker 1 (34:23):
That I think it was on a Tuesday.

Speaker 2 (34:25):
Yeah, yeah, nom.

Speaker 1 (34:27):
That That next Wednesday, I can say was the longest
day I think of my career, because I was getting texts,
I was getting calls, I was getting emails. Everybody on
that doom and gloom side came out in full force
that next Wednesday morning, and I had to help people
make a lot of decisions that first really twelve hours,
and my staff can attest to that. It's it's been
wild here. But the main thing is is I try

(34:48):
to make sure that cool heads prevail and and I
ensure that when it comes down to it. Remember I
said earlier, the first words I said was calmed down.
I had to make sure that I looked at the past,
and I talked about this couple months ago where I
have a logarithmic chart that I sent to my clients
during that after the election, and it showed the markets
and how they moved and what the S and P
five hundred did all the way back into the nineteen

(35:09):
twenties today and for those that come in, that's the
first chart I'm going to flash on the screen so
you can see what I'm talking about visually. But again,
no matter what happens, the economy is resilient. The markets
are resilient. Things usually heal if bad things happen, the
market's heel. If good things happen, the markets react, right.
The markets are very efficient. And it's one of those
things where no matter where you work, who you are,

(35:30):
and what your goals are, in order to achieve your
financial dreams and objectives, you have to make sure you
don't let fear dictate where you're going. And fear is
our biggest adversary bev. That's one of the biggest motivating
factors for people when it comes to building wealth. And
you never ever, ever, ever ever want to obey those emotional,
fearful impulses because that's where mistakes are happening. And I
usually pull that chart up bed. Remember twenty twenty when

(35:51):
the world was ending in spring I think it was
May or I'm sorry, March of twenty twenty, when pandemic
became real for us, we had a thirty percent drop
in less than like thirty days was insane. Wheneveryone thought
the world was gonna end when COVID started, because it
was scary. Don't let me sugarcoat it, but it was scary,
scary time in the world of finance. But what I
show people is that I had dozens to hundreds of
calls coming in when COVID started, with people trying to sell,

(36:14):
trying to get out of the market, save me, Like
you know, everyone was thinking that their money was going
to go to zero. And I told them during that
worst time in twenty twenty, don't move, don't sell, don't
behave those emotional impulses. Hold tight for those that look
up the s and P. Five hundred if people don't remember,
and end of March twenty twenty, when the vaccines were announced,
that was the catalyst for one of the best two

(36:35):
year jumps in the markets we've ever seen, right, don't
quote me. I think it was over over two years,
sixty plus percent return. And it was one of those
things where if you had obeyed your fearful impulses and
sold at the bottom of the market when things are crazy,
you missed out on the next two years, which is
one of the most prosperous times and the most prosperous
rallies we've ever seen in the stock markets. So I

(36:56):
tell people all the time, if you know, don't ever
be that guy or that girl that sells at the
bottom if you're scared, because then you're missing out on
the inevitable healing slash recovery slash resurgence of stock markets
coming back. So you never ever want to obey the
emotional impulses on the downside or the upside. Always stay disciplined,
and always make sure that overall you're staying is sticking
to your plan. Now, one more thing I wanted to

(37:17):
say about this. The term I use here is paralysis analysis.
If you're one of those that's listening and you say LV,
that sounds great, but I still am terrified because I'm
seeing a lot of those. Here's one thing I wanted
to throw out there. This is not for everybody, but
if you're on the older side of the spectrum. Let's
say you're over sixty to seventy plus years old, and
you are kind of more in a defensive mindset, you're

(37:37):
really like, you know what, I hear all the information
and I've taken all this information for the good the bad,
and I still am very, very fearful about what's coming now.
There are strategies out there that I won't recommend by
name today because it really has to tailor to your situation.
There are investments out there that will protect your principle
where you can throw the money in. You'll have things
like full principal protection. There's buffered investment out there where

(38:00):
they'll eat and absorb losses up to negative forty percent
for you if the markets get ugly out there. If
you have a wealth bucket and you are saying LV,
I hear you, but I am still terrified, call your
advisor or call us. And there are things out there
where you can have again protected investments that will still
make money in the good days, but also give you
good protection in the bad days. Right, I call those
guardrail strategies. So just remember, you know, if all your

(38:23):
money is in your four one K, talk to an advisor.
There are things you can do to make sure that
overall you're fortified against risk. If you're that scared, and
if you have money that's outside of your four one
K and you wanted to make sure that you were investing,
and you didn't make irrational decisions and sell all your investments.
There are good investments that you probably don't know about
if you haven't been in this world that long. That again,
we'll protect you on the downside and help you still grow.

(38:43):
If the markets win, the market's heal. If we have
bad days coming again, I'm an optimist, but that is
for the clients that again hear me, but still want
to make sure they talk about more defensive, more protective strategies.
There's a million things out there, so make sure to.

Speaker 2 (38:55):
Call all right.

Speaker 5 (38:57):
Five three five nine three four to two is our number.
Eight hundred and five zero three nine three four two
eight three three five three five nine three four two
is our number to get into l V l V.
I'm going to our phone lines this morning. W D
I A hi caller.

Speaker 10 (39:16):
Well, how you doing?

Speaker 2 (39:17):
I'm doing fine. I'm blacktastic Norman.

Speaker 10 (39:20):
How are you pastic them? I'm blackcastic good. I want
to say hello to you against Bell Yeah.

Speaker 2 (39:27):
LV, Palma Jr.

Speaker 1 (39:28):
How are you?

Speaker 10 (39:30):
How are you doing? Brother?

Speaker 6 (39:31):
Good?

Speaker 10 (39:31):
Good? Listen if you don't mind speak in elementary language
for me just for a moment.

Speaker 5 (39:41):
I know, I know LV has it doesn't know us. No, Norman,
you should have said LV speaking Layman's.

Speaker 1 (39:49):
Very good, go ahead and hit me.

Speaker 10 (39:53):
That's right, let's make it backcastic. Listen, I'll help us
understand what you have learned about the economy. Uh, that's
handed our way. What you've learned. Give us your honest opinion.
Is there a possibility that we can lose money or
is there a possibility of gaining What do you know

(40:13):
that we don't know understand and and we are needed
to be perfectly honored with us. Are we in a
position what do you learn about what the president and
others complaining to do in the economy? Do we take
a chance? Are we about to take a chance on
losing money? And if we're asking that question because we
want to move our money so we don't lose it,

(40:34):
I don't want to wait based on what you you know,
you might think or you might believe. I need to
know what you know if you don't matter, and that's
I'll say that with all due respect, because we don't.
We don't have much as it is, and we don't
want that taken. So we need to know the facts
and how we can really save our money and not
lose our money. Anyway, I want to thank you. I'll

(40:55):
listen in on that day.

Speaker 1 (40:58):
Thank you, Thank you, Norman. Yeah, that was a that
was a great question. Now what you said Layman's terms, right,
I mean to chick it down or yeah, you know
I can go off and start talking. So okay, Norman,
that's a great question. And honestly, it's a very common
question I'm receiving and I remember this. I have to
for those listening because you know, by law, as a fiduciary,

(41:21):
as a certified financial planner, I cannot sit here in
my chair and say and put lv's projections on what
I agree with, what I disagree with, what I think
is good bad. I have to be a neutral, objective
party for all the people that we manage, and I
cannot make I cannot advise based on what I believe.
I have to base advise based on the facts. So
you asked the perfect question there, Norman. So here's here's
my ten second take. So my my thing is this,

(41:44):
and I want to make sure everyone hears me on this.
There is there's nothing in our view. And again when
I say our v I mean myself, I mean my
research analyst, my wall street firms we work with, we managed,
we managed quite a bit of wealth for people across
the country. And one thing I can tell you is this,
in my opinion, there's nothing that's coming down the pipeline.
When you look at the facts, and you look at
the policy, and you look at again the trajectory of

(42:05):
things that are being proposed, you look at the House
and the Senate makeup, there's nothing that we see right
now that is scaring us at a again an objective way, right,
in other words, a policy that we're saying, hey, if
that gets past, our clients are going to get hurt.
Or if this doesn't get past, our clients are going
to hurt. There's nothing there, honestly so far that we've
seen from our view that is suggesting that we are

(42:27):
in for some crazy drop in the market or we're
going to lose our shirts next year, because there's nothing
again new bringing bought to the table when it comes
to what's being kind of promulgated by the new administration.
So the things that we don't like, just being objective
and answering your question the best I can, right the
only thing that does again concern us, where if LV
is wrong next year, and y'all look back on this

(42:47):
call and say, man, LV is optimistic, but look at
us now. The only thing that can go wrong, in
my opinion, is two things, right, and this is what
we are preparing our clients for. The First thing, which
I've already spoken about when we first started this show,
which in my opinion is much much more important, is
g politics. Right, we're looking at the wars overseas. Israel
Hamas concerns me more importantly if you turn the news
right now, Russia Ukraine concerns me. So if if that,

(43:10):
if though, if that nuclearization, especially with Russia Ukraine, which
I think has a higher probability of really mutating into
a global conflict. If again, if you look at the
news right now about what happened last night, that concerns us.
And that's why the markets really started off down today,
Because if that does escalate into a global conflict, then
I won't say world War three, that's so dramatic. But
if it does grow into something where it's a multinational

(43:30):
conflict that involves the US, markets will be in for
some pain in my opinion, right, and again, forget about
the markets to that point, that's that's human life we're
talking about there in that situation. But my thing is
that's the one factor if you're looking at what we're
looking at as far as risk factors, I'd say that's
more important. The second most important thing when it comes
back to our the next administration, would be the tariff
thing conversation. I know you've heard about all that, so

(43:51):
you know, but here's the thing I try to remind people.
I know, there's been a lot of a lot of
different uh you know, conversation and debate around about tariffs,
and and my at testament to my point earlier Norman,
we've seen tariffs before. Have we seen universal tariffs?

Speaker 5 (44:05):
No?

Speaker 1 (44:05):
And for those that don't know what a tariff is,
just a tax on an import coming from other countries. Right,
So we've seen tariffs before. President Trump is bringing in
I think when he first started his campaign he was
really starting to promote the idea of universal tariffs. I
guess I think it was a universal ten percent tariff
on every product that comes into America. As those know
and any economist knows, that would have an impact on

(44:26):
inflation and pricing and prices for goods and services across
the country would go up. If a universal tariff was passed.
Now here's the thing, guys, what I try to remind
clients about is that don't ever, don't ever take campaign
rallies and when all these again both sides the out
when they're saying these things to get elected. I'm sorry
to say a bit, but I don't take it at
phase value. When you say crazy, like good like kind

(44:48):
of grandiose things like universal tariffs, I don't think it's
really to like trick people. I'm thinking it's actually going
to happen right now. The whole the whole idea was
a stiffered trade stands between US and China and all
different trade partners. Right. The whole thing is America first
repatriating production of different you know, goods and services, getting
more factories built. That was the whole point of that. Okay,
but is a universal tariff actually going to happen post inauguration?

(45:12):
I don't think so. I don't think anybody in administration
honestly truly wants that. I think it was just really
making a point that hey, we are going to have
stiffer trade stances, and we are going to impost tariffs
on certain goods and services and products and imports, not
on everything. And I don't think that anyone in that
cabinet is going to suggest that. So I know it
sounded scary when it first came, because that's the one
complaint I heard coming in, like what are we going
to do about these tariffs? Shelvy, You know that I

(45:35):
don't think it's going to be in as extreme of
a form as it was as it was promoted on
the campaign trail. Now one more thing, though, again why
I'm saying, don't you know? This is just my take
on next year. If the most important things that we like,
I just went over two things that we don't like,
the only two things that we do like coming forward
right now, I will say that is causing the market
to jump and react favorably. Is again what I said earlier.

(45:56):
Tax cuts being extended, and of course you know, of
course deregulating Wall Street less rules, less regulations that usually
is conducive to good corporate earnings. And whenever corporate earnings
are strong and companies are making a bunch of money,
that means a great thing when it comes to your
portfolio that you're investing in at your job or your
iras whatever. So it's a mixed bag right now and
we still don't know what's going to happen. But my thing,

(46:19):
I will still maintain my stance whether you're on the
positive side or the optimistic side or the pessimistic side.
Make sure you have a balance and don't have all
of your eggs in one basket. Diversify. Make sure that
you have money in different places. You never want to
put all your eggs in one basket and go to
Cavalier into one thing. Make sure you sit with an
advisor and you have a comprehensive and you have a nice,

(46:39):
wide diversified backdrop of different assets and investments. Even if
you don't have a lot of money, make sure you
still treat it as if it is a million dollars.
Make sure you're diversified, you have a good professional looking
over your money if that's something you want, and making
sure you don't do it all on your own. If
that's what you want, you want to make sure your
money and again, in my opinion, I keep saying it
all weather portfolios, all weather wealth. You want your savings account,

(47:00):
you want your investment account for your long term, you
want something for in the middle in case you need
cash or capital. You know, if you have truly diversified
and you have money in different places, you really should
not be fearful because if the market's dropped next year,
guess what your safe investment should be able to perform well?

Speaker 2 (47:14):
Right?

Speaker 1 (47:14):
If the markets jump next year, guess what your long term,
more aggressive investment should perform well.

Speaker 6 (47:19):
Right.

Speaker 1 (47:19):
Something should always be winning and something should always be
losing when it comes to where your money is. So
that's why I don't get caught up too much into this,
you know, all this political stuff, because no matter what,
if you have a good all weather plan with a
good advisor, then they'll be good, bad, and ugly. And
that's the last term I'll say bad. Is the one
term that we were trained on is you know, true
diversification is always telling your client that you're sorry. In

(47:42):
other words, something is always going to be broken, but
guess what, Hopefully more things are doing well. There's always
going to be something that's down, but you always want
to make sure you have again multiple things working for you.
Roth iaries, HSA's, you know, savings accounts, bonds, you know stocks.
If you have all those things, then you know it
really mitigates and low or is that risk and make
sure that if I'm right or wrong, next year, you're

(48:03):
always going to have something that's gonna be winning.

Speaker 6 (48:04):
Right.

Speaker 1 (48:05):
So that's a great question. Sorry it wasn't as Layman's
as I wanted to be. But that's a complicated question.
But again I will delegate that to saying, hey, call
us if you want to talk more about it, will
be let me. That's a fantastic question. A lot of
ins and outs, and it does depend on your situation
and your risk tolerance.

Speaker 5 (48:21):
We're talking with our certified financial Planner practitioner lpl Wealth
Strategist LV Plumber Junior. Don't forget those first five calls.
I don't know if lv's office got them, but the
first five people who call nine zero one seven four
eight zero zero five zero you will get a free
consultation with LV. Cannot call, Go to his website at

(48:43):
PWS Planning dot com. Send an email by clicking the
contact us button to schedule your complementary consultation.

Speaker 2 (48:52):
Hold on, callers, I am going to.

Speaker 5 (48:54):
Get to you next right here on w d I
the Beth Essential.

Speaker 2 (49:13):
You're listening to the Queen of Talk on w d I.

Speaker 8 (49:16):
A working hard to break you outa days now selling.

Speaker 5 (49:53):
We are talking with our certified financial planner practitioner l
P L Wealth Strategist L B. Plumber Junior LV going
to our phone lines to talk with Beverly.

Speaker 2 (50:05):
Hi, Beverly, Hi, Beverly, want you put me on home?
See Hi Carl.

Speaker 6 (50:18):
Belj justin. How are you today? I'm doing well today,
Carl and you I'll find and good afternoon to your gifts.

Speaker 2 (50:29):
Hello, he said, good afternoon.

Speaker 6 (50:30):
He said good. I didn't hear him. Okay, I did
not hear him. Okay, okay, thank you, sir. Look, I
am going to relax for the next eighteen months. Set
this election. I'm gonna put my money in different places
and just relax and wait it out. Eighteen months after

(50:51):
any election, and when you can decide what to do,
is it going to get better or not? So people,
I know we'll upset about the outcome. Well, let me
be more precise. Some people are upset, but I will
deal with it and just wake him out for eighteen

(51:13):
months and put my money in certain situations in which
I would not have to panic down the road. You
wait people out, sir, You'll be all right. And I
don't know if you can answer this and that, but
it's my understanding that California is a place in which
a lot of money's made and share across the United
States South America to help people with their investment and

(51:36):
things of that nature. If you can, could you explain
to the audience what would happen if certain things in
California don't work out, like lack of workers, products being
shipped from west to east, or some company belly up,
And how does California help Middle of America, especially states
like Arkansas, Louisiana, and even in a seat, especially East

(52:01):
Tennessee becos. I believe a lot of people do not
understand how important your comedy heals to us and how
important the California plays part in this. And you set California,
We'll hold our trouble. I have listened.

Speaker 1 (52:17):
Thank you, Thank you, Carl, Thank you so much. Carl, great, great, great,
great perspective. I absolutely love it, and I respect your
opinion so much for being level headed and because it
sounds like Carl is the exact person that can almost
he sounds like a lot of my clients do like
the exact person that I'm talking to. As far as
like how to the recommended way. I recommend people to

(52:37):
react to stuff like this. So it sounds like Carl
has a political position, right, he probably disagrees with Like
he mentioned the outcome, a lot of people are upset.
But you know what he said that just blew me
back in my chair was I'm going to ride this out.
He has his opinion. He's not making any bad decisions
or rash decisions, he said. He's in a wait eighteen
months and ride it out and having the biggest best
thing you said, Carl, was having your money spread across

(52:58):
multiple areas. That's the that's the most disciplined approach that
anybody could have on their money. Just again, even if
you have the most extreme view, just wait it out.
This isn't I tell people all the time, the presidency
is not a fifty year term. It's a four year term,
right it's and in the end, this is always a
constantly influx area. The politics is moving. There's presidents, politicians,

(53:19):
everyone moves in and out in cycles. It's a very
cyclical place. So don't make long term decisions based on
short term events. So great thing. Now you asked a
question there, Carl about California. Want to make sure I
got you on that. You know, you mentioned the I'm assuming,
like the the economic importance of California and how it
relates to like I guess, like the domestic GDP and
just about like industrial production, and of course California being

(53:41):
a hub for many, many, many areas because it is
the size of a small nation. And one thing real
quick on that, Carl Bev, you and I were just
talking about Paris. The funny thing about it. I went
to Paris for the Olympics, and I didn't realize as
a testament to Carl's point, we were in Paris for
the Games back in August, my wife and I and
we were shocked because I've actually it's been a long
time as I've been to Europe. We were actually shocked

(54:03):
at how many, how like clustered those nations over there
in Paris where we were sitting next to people during
the games, but that were from the Netherlands, from London,
from the UK, from you know, just like from all
I think. Another place was I think Sweden. There was
some Swedes there as well. It was a lot of
people that were there from Moults from again, multiple nations,

(54:25):
and my wife and I were like Okay, you guys
must have traveled a really really long way to get
here for the games. And then it thought about I
thought about it, and I was like, Okay, if you
look at the geographical map, these are all countries that are,
if not smaller than California, that are all in the
same area over there near France. And it kind of
shocked me because again when I looked at that map,
I was like, I would imagine some of the states

(54:46):
like Texas, like New York, like California, those major metro
states in America actually had higher GDP production and higher
just you know, overall importance to their local economies than
a lot of those neighboring nations over in Europe. I
mean literally, I can imagine on the map here that
the size of France is you can probably fit about
three or four Frances in California. It's crazy. So at

(55:06):
testament to his point, right, I love, love love because
I will agree with him saying that you know, California
as as large as scale, as state it is, and
as much production as that as they're essentially commanded of.
As far as our national GDP or GMP. The main
thing I love about California. Is that again, we actually
have clients that invest in California municipal bonds. I was

(55:27):
going to talk about that because there are states around
the country right where you can actually invest in those
states respectively. You can lend to those cities, to those states,
to those municipalities, collect interest back fully tax free at
the federal level. I love California bonds for that purpose
because he's right. There's a lot of different business sectors
that California is responsible for. Tourism, farming, agriculture of course, transports,

(55:51):
and infrastructure. So there's a lot of things that California's
responsible for, and it's a great way if you wanted
to start exposing your money to certain major again and
integral states like California. You can invest in municipal bonds,
lend to the State of California, the city of Los Angeles.
And the great thing that people don't realize about that
if you collect five percent interest on a California municipal bond,

(56:12):
that four to five percent interest is fully tax free
when it comes back to you. So I don't preach
enough about municipal bonds, but that's a great point if
you want to if you're excited about certain states like Cali.
Make sure you're looking to talk to an advisor and
see if municipal bonds are for you. But that's a
fantastic point, and that's something we do every day.

Speaker 5 (56:27):
All right, going back to our phone lines, LV, Hi Jarvis.

Speaker 11 (56:34):
Hi Bill, how you doing today, the most specious lady.

Speaker 2 (56:38):
I'm doing well in yourself.

Speaker 11 (56:41):
All is well, and good afternoon to your gifts of today.

Speaker 10 (56:48):
I guess to have a question for you.

Speaker 11 (56:50):
I'm calling for in the Pacific Northwest. It's crazy that
you was talking about California and I'm calling from Portland.

Speaker 12 (56:57):
Oregon, and I have when the stop Walmart split, I
bought three shares and my three shares turned into six shares.
No excuse me, my three shares turned into nine shares

(57:18):
and they're looking pretty good now. And my question is
have two questions?

Speaker 11 (57:24):
Should I put.

Speaker 13 (57:26):
More into Walmart? And then my big question is could
you explain to the public how is a good time
now to get into microchip technology? Thank you for taking my.

Speaker 11 (57:41):
Call back, and may God bless you. He's giving us
a good information.

Speaker 2 (57:46):
Thank you, Thank you for calling from Portland.

Speaker 4 (57:49):
Amen Amen, Amen.

Speaker 1 (57:53):
LV, Amen Amen. So he had two questions that are
loaded here. So if you've heard me before, you already
know my answer to that first question.

Speaker 2 (58:01):
I don't know.

Speaker 1 (58:02):
I gotta know. I gotta get to know you as
far as he and for those that didn't catch it,
he's asking about the Walmart Corporation stock. Yeah, and so
you know, i'd have to know your situation. I'd have
to know what your investments. But let me let me
take a step back and just speak in the general.
It kind of in general about it, right, So what
you was talking about everyone, if you're not really verse
in this world. Back in I think it was January
or February, there was a three for one stock split

(58:24):
on Walmart. If I can recall, we had a lot
of clients that have Walmart stock. It's one of our
favorite holdings that we have in our portfolios. But again
not endorsing the Walmart Corporation, but that is something that
we like as far as large companies to invest in.
So I think it was February. There's a three for
one split. If you had one share of Walmart stock
before that split, then they give you three essentially, and
the price suggests for that. So you yeah, basically there

(58:45):
you know, it's a split of the stocks that you have. Now, Now,
the main thing about this, I if you're talking about
post split, I gotta look at Walmart's performance. But Walmart
in general, I would file them under the blue chip category,
which everyone hears me say that all the time. But
what I mean by blue chip especially for older clients
that are getting close to retirement or they're at retirement,
and they want companies that are again quote unquote safe, stable,

(59:09):
predictable cash flows, great management, long growth prospects, but still
not very voltal as far as the up and downs
and how responsive their prices, their stock prices to the world.
Right Walmart, You know, again not endorsing any of these companies,
are recommending everyone investing in them, But just to name
a few blue chips, Walmart, McDonald's, Nike, Target, Microsoft, Amazon, Disney. Right,

(59:29):
these are companies that are pretty mature in their business cycle,
that paid sometimes typically pretty good dividends, and again they're
not stocks that go through major price wings for our
clients that are a little bit more cautious about their
money and don't want to see their money fluctuating up
and down. So my thing is this, again, speaking in general,
I'm not recommending you do anything, but I like Walmart.
I will say that. Do I recommend everyone invest in it? No,

(59:50):
but that's why it's important to call us so we
can advise you in your situation. I'm a fan of
preferred stocks and I love dividend paying investments. Are companies
that pay dividends just you owning their shares as a luxury.
It's a really good thing. The way to generate great
income for yourself in retirement. And it's a great way
combining you know, preferred stocks or dividend paying stocks with
like I mentioned earlier California, with you know, income paying

(01:00:12):
municipal bonds or a tax free That's how you make
your money work for you and create your create income
out of your investments. I love dividends and I love
municipal tax free bonds, So Walmart good in my opinion.
Second thing and I'll be will be done. He mentioned microchips.
I'm assuming microchips. He was talking about semiconductors for those
that don't live in this world. Bed because it'll make
a lot of people's headspind. It makes my headspend sometimes.

(01:00:34):
Artificial intelligence.

Speaker 2 (01:00:35):
That's good.

Speaker 1 (01:00:35):
That's exactly now here's the thing. And we sat here
a year ago, Bev, and I think someone called and
asked about AI. I didn't have a stiff stance like
on it yet because it was still kind of an
emerging market and we didn't really know a lot about it.
It was just something we thought was kind of an
accessory to other technologies that we had. But now I'll
just say this again. I'm not endorsing AI and saying
everyone go invest in it, but I'm going to say
is this. It's here, and it's real. It is impacting

(01:00:58):
every fabric of how we are. Bread is a global economy.
In my opinion, Again I'm a broken record. I'm not
saying everyone go invest in it, but in my opinion,
I think AI is going to be here to stay
for a while. It's already being integrated into our economic
system across the globe. Businesses are using it in the
Fortune five hundred banks are using it. It's in our
products like iPhones and all of our technology. It's being
integrated into everything as far as it being kind of

(01:01:19):
a central kind of component of how we live our lives.
So my thing is, I think there's a lot of
runway and he mentioned semiconductors, microchips. I know everyone's heard
about in Nvidia, that's one of the biggest companies in
the world out of nowhere now that a lot of
our clients hold as well. But you know, my thing
is this, if you're young enough and you are okay
to take some risk, because you know, whenever you have

(01:01:40):
a new, fledgling, crazy thing like artificial intelligence that's not
really developed yet, that could evolve into something really really exciting.
You know, if you have enough time and you're younger,
maybe about five to ten years more to retirement, talk
to your advisor and see if it's right for you
as far as getting in while it's still relatively in
its infancy. If you're older, and I will say this,
if you're old and you don't have a lot of

(01:02:01):
time and you want to start enjoying your money and
decumulating and living off your money, I usually don't recommend
things like AI for clients where they need income now
or they want to keep their money safe. It's just
like anything young, it's going to be some bumps in
the road, and it's got to develop. It has to
really grow into what we think it can become. And
it's going to take some time, but all I'm going
to say is that again, the only objective truth I
can tell you right now is it's here, and it's real,

(01:02:23):
and it's something to definitely talk to your advisors about.
And again me personally, I'm a fan of it. I
love you micro micro chip stocks, semiconductors, anything with AI software,
cloud computing. You see Teslas building a facility here in
Memphis for server storage and things like a lot of
crazy stuff going on. So it is something to discuss
and it is a real thing that has tangible benefits

(01:02:43):
if you have a good structured plan, talk to your
advisor of calls if you want to do more.

Speaker 5 (01:02:48):
All right, Hi, Beverly, Hi, I'm doing well in yourself,
I'm doing well.

Speaker 14 (01:02:56):
And hellot's trauma.

Speaker 1 (01:02:58):
Hello.

Speaker 14 (01:02:59):
I was listening and listening to you and all the
advice that you give, but I just wanted to call
and share something with you. I know you were talking about,
you know, not putting all your eggs on a basket
and also you know, if you're wary about losing your
principal and all of that. One of the things that

(01:03:21):
helped me when I was still working with my full
three b on My job was I had target date funds.
I had my money in target day funds, and I
found that to be very helpful to me, especially when
two thousand and eight and we had that recession. A

(01:03:41):
lot of people the stock market crast, a lot of
people lost money and other things. I didn't lose a
whole lot compared to some people that I heard, So,
you know, for people who still working and liking that,
I guess would be lik in they twenty thirty, forty,
even fifties. I think I was in about in my fifties.

(01:04:03):
I started late, unfortunately, but anyway, I had to play
pay play Ketchup. But anyway, doing the target date funds
really was a benefit to me. And also now that
I'm retired, you know, my main goal was was been
preservation of principles. I don't want to lose nothing that

(01:04:25):
I invested. Even if I don't earn a whole lot,
I earned some because I do have some dividend income
paying you know stuff, and so that helps me a lot.
I know, I could, you know, do some investing and
maybe make a little more money, but I would also
be uh, you know, at risk also for losing some

(01:04:49):
So since my main interest is the preservation of my
principal then you know that's that's what I enjoy and
I just you know, like it. One last question on
this RDM required r MD how late in the year,
like in December, Like I'm trying to wait until the

(01:05:10):
very end of this year so that I can keep
my money in there earning. So can you wait to
like say, if you wait to like say December fifteenth
or after, did you still get those returns from for
December if you do it after December fifteenth, but still
you are taken out your rm D before.

Speaker 5 (01:05:33):
The end of the year.

Speaker 1 (01:05:35):
Okay, great, great.

Speaker 14 (01:05:37):
My question. All right, all right, I'll hang up and listen.

Speaker 1 (01:05:41):
Thank you, bye, Thank you, Miss Beverly. Yes, thank Okay,
two great questions. I'll go in reverse order.

Speaker 6 (01:05:46):
Here.

Speaker 1 (01:05:46):
You asked about an r m D, right, and if
I got your question. I was trying to jot some
notes down everyone that doesn't know what an r m
D is, because you'd be shocked if I'll come people
come my office with one, two ten million dollars. They
don't know what an rm D is. And it's like
something you definitely need to know about if you have
a retirement portfolio. So what she's talking about if you
have your money I think she mentioned a four three B.
If you have your money in a four oh one

(01:06:07):
K or a four three B, which is just a
four oh one K for private I'm sorry, public sector
workers like teachers or doctors or those that work in
like healthcare, right so, or the government right. So if
you if you have anything where it's a pre tax
portfolio where in other words, you've been working for your
whole life, you put money into the pre tax not
the wrath, but the pre tax door. Is you were
working and building up your four one K or four

(01:06:29):
three B and Uncle Sam has not got his cut yet.
She's right about that. The age Just so you know,
miss Beverley, that party stops at seventy three, right, So
when you're seventy three years old, the government essentially starts
knocking on your door and they say, hey, listen, you've
been making all this money in that four to one
K for thirty years, and now it's time to start
paying some taxes. Right because remember that four one K
and that four three B grows without Uncle Sam touching it.

(01:06:50):
That's the beauty about the four to one K. Now,
when he turned said, it used to be seventy, then
it went to seventy one, then it went to seventy two,
and now it's at seventy three essentially, and then in
twenty thirty three, I think it jumps to seventy five
if my memory served me correctly. So if you're in
your mid seventies and you haven't taken an rm D,
you need to call somebody preprobably a CPA, because that
this is if you don't take that required amount that
Uncle Sam is making you pull out of your portfolio,

(01:07:12):
which is usually about two to three percent of your
total account, it's one of the worst tax penalties that
Uncle Sam can impose on you. It's like forty to
fifty percent of what you should have taken. So if
you have a half a million or four one k
and your RMD is I don't know, let's just say
five thousand to ten thousand dollars, and let's say it
was ten even and you take you don't take out
ten thousand, your bill is going to be five as

(01:07:32):
far as your penalty, right, So that's a complete and
utter waste of money. That's why I tell people, if
you're seventy three or older. Make sure you look back
and you know how much the government is making you
pull out of your four one K or your IRA
whatever pre tax account that Uncle Sam has not got
his cut yet on. Okay, so she asked about the date.
Just everyone, just so you know the rules, miss Beverley.
If you are if this is the year you turn

(01:07:54):
seventy three, they're actually a little bit more relaxed. They
actually give you until April fifteenth, the following year you
turn seventy three to pull out that required minimum distribution. Okay,
so you have so this is your seventy third year
where you turn seventy three, you have until April of
next year to get that done. If you're beyond seventy
three and you're turning seventy four or older this year,

(01:08:14):
they have a little bit more of a stauncher stance
on that. You have to take it out before the
end of the calendar year, which again December thirty first.
So yeah, so as long as you take it this
year at any point, Beverly, you're good to go on that.
So you don't have to wait until the end of
the year to get it done. They calculate it based
on your previous years to December thirty first value, So
whatever your value was the previous year is what they

(01:08:35):
calculate your RMD to be this year. As long as
you take that out based on that number, and wherever
your money is, call them if it's at Fidelity, if
it's at Vanguard, whatever company's managing your money, because we
do that for our clients, just kind of help and
guide them around how much the government's making them take out.
Make sure you call the advisor or the institution that
has your money so they can help you with that
number and measure before you cut. But just remember, if

(01:08:55):
you're seventy three this year, April fifteenth is your deadline.
Next year. If you're seventy four old, you have to
take it before December thirty first, So just remember that.
And I'm Bevam sorry, I know we're running out of time.
One last thing, Well, I'll talk about this next show,
but if you're one of those clients, there's something please
jot down this note. It's called a qualified charitable distribution
a QCD. I don't think I've ever talked about that

(01:09:16):
on the show. A q CD qualified charitable distribution or
what I call a qualified charitable donation. If you sit
down and you're an rm D cline, you're seventy three
year older, and let's say your rm D is ten
thousand dollars like we talked about. If you look at
that ten thousand and say, man, I got to pay
two to three thousand on that to taxes and Uncle
Sam's gonna get his money, and I don't need that
ten thousand to live, you can give that if you're

(01:09:38):
a giver. You know, a manage a lot of churches.
So yeah, my pastors love this. But if you if
you have an rm D that you don't need for
living and you don't want to pay tax on it,
the only way around Uncle Sam is you can give
it straight from your portfolio at your four one K
or your IRA and you can actually send a transfer
or a check to a church, a charity, a nonprofit organization,
whoever you want to give to. If you give anyway

(01:09:59):
and Uncle Sam I won't tax you a dime of
that money. That way, you can make an impact on
whoever you want to give to. I tell people all
the time, give from your portfolio if you can that way,
because Uncle Sam's going to tax you no matter what.
The one way around that is to give it straight
from your IRA or four one K to your church,
your charity or nonprofit that you want to support. So
but anyway, just remember that's the only way really around
that rule. Other than that you have to pull it out,

(01:10:20):
take it and put into your bank account and pay
twenty percent tax or whatever your rate is at that time.
So just remember QCD is an option. RMDS again, start
at seventy three and talk to your CPA and your
advisor about that. Yep, if you want to know more.

Speaker 5 (01:10:32):
Well, it's a good segue to go and quickly alb
a bit about taxes. What are some strategies people should
think about before the year comes to a close and
before next year's inauguration?

Speaker 1 (01:10:44):
You know what, I might I might save a lot
of this for the next show, because December is a
good time to get this stuff done. But yes, so
everyone knows we're we're in tax mode right now. And
those that call if you want tax advice, always always
have a CPA in the chat. But we will help
you say, hey, like, what are those things we can
do now to minimize taxes that you're expected to pay
next year? Right? I mentioned earlier about maxing out your iras,

(01:11:06):
maxing out your four one k's. If you're a business owner.
Remember I'm a huge fan of step iras sep iras.
It's like a self employed four one K can set
up for yourself. You can draw up the twenty five
percent of your income into that if you want to
shelter it from tax now and defer that income. So
you know, my thing is is if we have cash
laying around, figure out where you can put that cash

(01:11:26):
to make sure you can get the optimal tax right
off on that. There's so many things you can do,
especially if you're self employed. Talk to your advisor, figure
out those things you're eligible for, and try to drop
it in before the end of the year. That way
you can get your right off and ensure that Uncle
Sam doesn't tax you on too much of your money.
So there will dedicate next show. I think to some
of those things early, I think, so I'll go deeper
into that later since I know we're out of time.

Speaker 2 (01:11:45):
It sounds good, sounds good, LB. So I hope you
got those five callers.

Speaker 5 (01:11:49):
But if you did, y'all you did, you did, Okay,
I don't have to say anybody they got the five callers. Y'all. U, Yeah,
we did good, good good looking forward to having you
next think good INFU today LB.

Speaker 2 (01:12:01):
I like that.

Speaker 1 (01:12:01):
Thank you, bib, I appreciate it. And for those that called,
thank you so much for listening in. We'll see you
next month. And also everyone forgive me. I see a
couple of like January, February and March appointments for book
that we're pushing you that far back. Yeah, be patient.
My team just said that, you know, if you want
to come in earlier and we have a cancelation, you're
a bion a list for us to call you and
move you up. So if you want to book, just
book it and get a slot and then we'll try
to put you on like an advanced list to come

(01:12:23):
in sooner if we have a cancelation. Sound Thank you all.

Speaker 2 (01:12:25):
I love it.

Speaker 5 (01:12:26):
That's LV Plumber Junior, our sort of fined financial planner
practitioner LBL Wealth Strategists. Give them a call nine zero
one seven four eight zero zero five zero nine zero
one seven four eight zero zero five zero.

Speaker 2 (01:12:43):
We're getting ready to go to the other side of.

Speaker 5 (01:12:45):
The BEV Johnson Show right here on w d IA,
The Bethtes Show.

Speaker 7 (01:12:57):
Whether you're in Arkansas, Tennessee, or Mississippi, on Facebook, Twitter,
or Instagram. Thank you for listening to The Bev Johnson
Show on w d I A Memphis