Episode Transcript
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Speaker 1 (00:17):
Well, well, well, well, folks, here we are the middle
of March. The year is flying by, and we've had
a little excitement in the stock markets. For those of
you that really didn't catch on to that, good for you.
You save yourself a lot of stress. For those of
(00:37):
you that did, and you watch the markets, especially Monday
when Nasdaq was down four percent, just forget about it.
We'll pass this volatility. It'll be behind us before we
know it, hopefully sooner than later. I don't have a
crystal ball. I can't tell you when the volatility will end.
(00:58):
I just know that it will end. And when it ends,
all of a sudden, investors will say, well, you know,
that didn't feel good at the time, but I guess
it's like every other correction and bear market. We get
through it, and that's exactly what will happen now. Folks,
don't get too nervous about it. If you're a long
term investor, if you've taken our advice on this show,
(01:20):
and you've taken one to two years worth of your
cash needs put it into a conservative allocation, then you
have nothing to worry about. Just sit back, relax, enjoy
the nice weather that's coming. The longer days, the sun
is higher. I'm telling you, it's just a beautiful thing.
Spring is in the air. I'm Steven Bouchet. I'm your
(01:41):
host today and I can't thank you enough for taking
time out of your day to tune in. If you
have any questions, any questions whatsoever, the phone lines are open.
Zach Harris, my long term producer, and I are here.
We would love to talk to you. Love to get
your pointed in the right direction, with love to calm
your nerves if you're a little nervous. One eight hundred
(02:04):
eight two five five nine four nine one eight hundred
talk WGY. That's one eight hundred eight two five fifty
nine forty nine. Any questions whatsoever, Folks, give me a call.
As they said, whatever you do, do not do not
make any knee jerk reactions. The world is not coming
(02:26):
to an end. It hasn't come to an end yet
because of volatility. It's not coming to an end. Now.
That's what you have to keep in mind. The market
always goes back, makes new time highs, and all of
a sudden everything feels a lot better. So we had
almost four hundred clients this week. We do our annual
(02:48):
State of the Economy presentation probably one of the best
things that I can do as a farm on behalf
of our clients, and I'm telling you it's We had
almost four hundred clients between We had a luncheon on
Tuesday at dinner Tuesday night, both in Saratoga. We actually
had it at the eighteen sixty three room, which is
(03:11):
right there on the finish line of Saratoga Racetrack. It's
a pretty pretty good venue, a lot of technology. You know,
you can't turn your head without seeing a TV. And
our presentation and my colleagues and I were up on stage.
Most of my wealth advisors were part of the presentation,
and I was very proud of the presentation they put together.
(03:35):
They put a lot of work into it. They gave
some really good information. We'll have it up on our
website probably this coming week. Sam Samantha Macy in my
office is working with our production team to finish editing
it and we'll have it for the listening audience to
look at it. It's probably the best hour you can spend,
(03:58):
especially if you're thinking about reaching out to us to
schedule a free initial consultation. When you see our State
of the economy presentation. When you see the information we give,
when you see how dynamic my team is at presenting
this information. And you know, I had my leadership team, Marty,
(04:22):
Ryan and John they were you know, big presenters, and
I also had Samantha Macy, Vincenzo, Testa, Pallo La Pietra,
Harmony Wagner. We really had a you know, just an
amazing presentation and we did, you know, economic outlook, an
(04:44):
economy that is resilient, which this economy is resilient, where
are the challenges of the economy, the impacts of terrorists,
tax policy update. Vincenzo did a good job on that
portfolio positioning. Pollow came in and shared what's going on.
(05:05):
Ryan ended out the presentation with market perspective and outlook,
and then we had questions and answers and I'm telling you,
we gave a lot of good information and it was
really just something something that we're proud of. And as
I said, for our clients that we invited, we can't
(05:29):
invite all our clients, but most of our clients we
were able to invite. And for the clients that we
couldn't invite, we'll be sending them a link and as
I said, we'll have it up on the website, So
stay tuned. Go to our website Bouche dot com look
for It'll be well worth your time to take a look.
One eight hundred eighty two five five nine four nine
(05:53):
one eight hundred eight two five fifty nine forty nine.
If you have any questions, any questions, what's so ever,
please give me a call. Let me help get your
pointed in the right direction, let me help give you
some things to think about. You know, I say often
I get energized doing the show, and I do get
(06:14):
energized doing the show. This show never gets so old
for me, and I can't begin to tell you that
that I'm coming here and helping you the listening audience
is something that just brings me a lot of joy,
and it makes me feel really good about helping people
(06:36):
that may not have an advisor, maybe people that have
advisors that maybe they're just not doing a job for them,
or others that may be doing it on their own
and think with their heart rather than logically and rationally
with their heads. So you know, all of the above,
I'd like to help the listening audience out with. So
(06:57):
if you have any questions one eight hundred eight two
five five to nine four nine. So what happened last week? Well,
Monday was, oh, well Monday was a little crazy, right. Yeah.
You probably went to home and had dinner Monday night
and said, why why am I ever in the stock market? Well,
(07:19):
you know, Monday started out. Mark Carney, the former Banker
of Canada and Bank of England governor and now the
new Canadian Prime Minister, said Canada will never be part
of the US. So I guess he's basically saying that
the Canada will not be the fifty first state of
this great country of ours. You also had China's tariffs
(07:41):
on US farm goods began. You got President Donald Trump
didn't rule out of recession, you know, not that he's
hoping for a recession, but he's you know, he's not
hiding underneath the rock, folks, He's he's he's pretty right
out there, pretty straightforward with US comments. You know, stocks
really took a blood bath on Monday and continued on Tuesday.
(08:05):
After President Trump threatened to double steel an aluminum tariffs
on Canada, and before we did the presentation on Tuesday night,
that was off the table. That's how quick this administration
acts and reacts, you know, on on. You know, you
(08:27):
had metal tariffs began at twenty five percent. On Wednesday,
Europe and Canada retaliated. February inflation slowed two point two percent,
cooling off a little less than what was expected. Odds
rose that Congress would keep the government open, triggering a
Friday rally. For the week, the Dow fell three point
(08:50):
one percent, the S and P fell two point three percent,
NASDAC fell two point four percent, and gold went above
three thousand dollars an ounce on Friday, closing at a
record high. So there you have it. That was how
the week went. And as I said, it was a
pretty wild week, a crazy week. I know that year
(09:14):
to date the markets are down. You have the SMP
down four point one percent, Nasdaq is down twice that
NANSDAK is down eight point one percent. QQQ is down
six point two percent, so fifty percent more than the
broad stock market index. Russell two thousand is down eight
point three percent. Shared with clients on Tuesday and Wednesday
(09:37):
at our State of the Economy address that we have
a pretty significant position in NASDAK as much as the
broad stock market index. Those are our two core holdings.
And as I said on Tuesday and Wednesday, if you
have Nasdaq in your portfolio, NANSDAK is a little bit
more volatile than the S and P, you'll it go
(10:00):
up more, you'll see it go down more. If you
look at the fifteen year average of the S and
P with all the headlines, all the craziness, thirteen point
two one percent year in year out, year in, year out,
thirteen point two one percent. And if you look at
the same fifteen year period for NASDAK eighteen percent, eighteen
(10:22):
percent year in, year out. Even though QQQ is down
six point two the S and P is down four
point one And if you want to compare it to bonds,
year to date, bonds is up two percent, but over
fifteen years, your average fifteen year average year in, year
out two point three percent. And as I said on
(10:44):
Tuesday and Wednesday, a lot of investors put bonds in
their portfolio of soften the volatility, and it does, but
that doesn't mean that bonds aren't You know that volatile
bonds can lose money. If you look over the last
ten years, were down two of those ten years, So
bonds can go down guess what. If you look over
(11:05):
the last ten years, stocks were down two out of
ten years, so believe it or not, twenty percent of
the time, both stocks and bonds. If you look at
the broad indexes for each asset class, we're down two
out of those ten years. But bonds obviously a lot
of people put them in the portfolio to soften the volatility,
(11:28):
and you could get thirteen almost fourteen percent average return
over fifteen years. And if you have a long term perspective,
that's really how you should be looking at the investing horizon.
Most people aren't invested for fifteen days. Most people are
invested for fifteen years, whether it be investing for retirement.
(11:51):
You may have shorter goals if you have children going
to college and that's one of your savings plans, or
maybe looking to buy a second home home, but for
most people it's retirement and most people have fifteen years.
Even if you retired at the age of sixty five, folks,
you know, the actuary tables show that you're going to
be around for twenty twenty five years. That's a long
(12:13):
time and you have to keep that in mind when
you retire at age sixty five, Hypothetically speaking, that doesn't
mean you plan on passing away. It just means you
plan on retiring. So you have to keep that long
term arison in perspective. And one of the charts that
Ryan showed on Tuesday and Wednesday was if you're invested,
(12:37):
you know, listen, listen any given month, any given month,
and this this goes back for decades. Any given months,
the stock market's up sixty two percent of the time,
but nobody's invested for just a month. For a year,
any given year, the stock market is up seventy five
(12:59):
percent of the time. Now, let's put it in perspective.
Most people are five, ten, fifteen years or longer. So
any five year horizon over the last several decades, stocks
have been up ninety percent of the time. If you
look at any ten year horizon over the past several decades,
(13:22):
stocks has been up ninety five percent of the time.
And if you look at fifteen year holding periods over
the last several decades, stocks have been up one hundred
percent of the time. Why do I give this information
nowt beiz. You need to keep it in perspective. You
need to remember that if you're a long term investor,
(13:45):
and you got time on your side. Do not do
not get crazy, do not panic, Do not have kneeture
reactions when you see the stock market go up and down,
up and down, up and down. That's part of investing in.
My favorite statistic is over the last forty six years,
(14:07):
stocks have been up thirty four out of those forty
six years, and the average swing high to low, peaked
to trough in the stock market is fourteen percent a
year any calendar year over the last forty six years,
your average swing up and down over that time period
(14:30):
is fourteen percent. So here we are right now, as
we sit here today, with the week that we had,
Nasdaq is down about thirteen percent from its high, and
you have the S and P down about I don't
know eight percent from its high. We hit correction territory
last week for NASDAK and this past week we hit
(14:55):
correction territory on the S and P on Thursday where
it's down ten percent. Then on Friday the indexes recovered
as ugly as Thursday was. Friday brought hope one eight
hundred eight two five five nine four nine one eight
hundred eighty two five fifty nine forty nine I'm going
(15:16):
to take a quick fifteen second break, Zach. Folks, if
you have any questions, one eight hundred eight two five
fifty nine forty nine. You know, it's hard to stop
that jazzy music. It kind of gets you to move
(15:38):
to swing a little, right, Folks, One eight hundred eight
two five five nine four nine, any questions, give me
a call. As I said before we took that quick break,
there's reason for optimism and listen if you you know,
I said it at the State of the Economy this
(15:59):
week with my client. I said, now it's not the
time if you're a growth investor to go more conservative. Listen.
The stock market's down, you know. We hit correction territory
on Thursday for the S and P. We hit correction
territory over a week ago on NASDAC. You know, the
(16:21):
indexes have had a rough few weeks. Listen, we've been
taking it on a chin. You know, you let a
little air out of the balloon and it's expected. You know,
not to repeat myself, but the average entry year high
to low peak the trough's swing in the market is
fourteen percent and we're right there right The broad market's
(16:43):
down eight nine percent, nasdac's down thirteen percent off. It's
high and just a couple of weeks. You know, yes,
I know, I know it's been a rough couple of weeks.
But are you invested just for a couple of weeks
When you invested that money, did you plan on being
invested just a couple weeks? Absolutely not. More than likely
you're saving for retirement. That's what most people save money for.
(17:08):
And I know I say often, if you're not saving
ten to fifteen percent of your portfolio, then you're not
saving enough more than likely unless you've done some really
good got somebody trying to call me and let me
and that zach Am I still online, all right, perfect, Sorry, folks,
(17:31):
somebody did not realize that I'm doing live radio with you,
so I apologize about that interruption. But if you're not
saving ten to fifteen percent of your portfolio, more than
likely you're not saving enough. And if you're not saving enough,
that means when you get to retirement age, you don't
have enough money to retire on. What are you going
(17:52):
to do? You spend decades working, working your tail off,
earning hard earned money, and what you have to do
is discipline yourself to put some of that hard earned
money away while you're working, while you're able to save money,
come heck or high water, find a way to save
(18:13):
ten to fifteen percent of what you make. I know
it sounds crazy, especially when times are tough, but somehow, someway,
you'll make it happen. I promise you. I say this often,
and I don't mean to be funny when I say this.
I promise you if you take my advice, if you
heed my advice. On Monday morning, you go into work
(18:35):
and you say, hey, you know what, I'm only putting
four percent away into my pension plan. Let me up
at the ten percent. I promise you the first few paychecks,
you will not like me. I can assure you that
you will not be sending me well wishes. You may
you may be rubbing your nose at me. You may
(18:57):
not be liking me a whole lot. I can almost
assure you that because you're going to have less money
in your pocket. But I can also assure you in
a year, three years, five years, ten years, when you
look at how much money you having your retirement plan
because you discipline yourself to save money, I promise you,
(19:21):
maybe you'll send me a birthday card or a Christmas card.
I promise you, if you see me walk in the
aisles of the grocery store down the street, you may
give me a pat on the back and say, hey,
thank you. I didn't like you for a while, but
all of a sudden, I really learned to like you again.
I have a lot of money saved up, and I
(19:42):
know that I now have a chance of retiring with
the quality of life that I wanted to retire with.
That's what it's all about. We all have a dream,
and if you're not willing to work towards that goal
of fulfilling that dream, when you get to retirement age,
either you're going to have to keep working and you
(20:04):
have to hope you're healthy enough to work, or there's
a job out there for you to go to. So
if you're not prepared, if you don't have enough money
saved up, because remember, when you're working, you're taking your money.
You're hard to earn paycheck, and you're going to put
some of that money away. And remember the government subsidizes that.
(20:26):
If you put one hundred dollars into your retirement savings,
maybe maybe you'll miss eighty seventy sixty of it because
Uncle Sam is not taxing you on that, and they're
giving you a little tax break. Then that money grows
tax deferred. And then the beautiful thing is you have
(20:48):
an estate built up and you can start drong on it. Now.
For those of you that live well within your means
and you can put away more than ten fifteen percent,
do an IRA if you qualify for a walth IRA.
Max out your pension plan at work, especially if your
(21:09):
company is giving you an incentive to retire. That means
that if your company is matching up to four or
five six percent. Each company is different, that's free money.
You don't want to blow that free money. If your
boss is willing to give you an incentive, if you
put five percent away and they're willing to match it,
(21:29):
you know, fifty cents on a dollar or a dollar
on a dollar. Each company is different, But if they're
willing to give you an incentive to match that, that
money you put away, that's free money. Folks. That's like
getting a pay raise. And it goes to what I'm
suggesting to you. Make sure you're disciplined enough to save
(21:50):
for retirement. You get one opportunity to retire. You can't
go back and make up for all those years, all
those decades that you we're retired or working, and if
you didn't put money away, you can't go back and
make up for it. That's why I say, you've got
to make sure you're disciplined. As crazy as it is,
(22:12):
and it is crazy because especially during hard times, how
can you and with inflation rearing its ugly head, how
can you afford to put ten to fifteen percent away?
I promise you you'll get used to it. You'll get
used to not having as much money in your pocket.
We're all human folks. That means that we will spend
(22:34):
everything that comes into our pocket or pocketbook. And if
it's in your checking account, you'll spend it. If you
pay yourself first and you put it into a retirement plan,
guess what, you won't spend it because it's out of
your reach. It's already put away, and all of a sudden,
you'll see that money grow. And it's a beautiful thing
(22:57):
when your money grows, and it grows as the third
and all of a sudden, you see your network because
that's your money. Even if you work for a year,
five years, ten years, for the same company. When you leave,
that's your money. They can't keep that money. It's yours.
And when you leave a company, make sure you take
(23:18):
that money and roll it over into an IRA in
individual retirement account. Folks, we're coming up to the bottom
of the hour. You are listening to Let's Talk Money,
brought to you by Boucheting Answer Group, where we help
our clients prioritize their health while we manage their wealth
for life. The phone lines are open, stay with us
(23:38):
through the news. One eight hundred eight two five five
nine four nine One eight hundred eight two, five fifty
nine forty nine any questions whatsoever, Folks, I would love
to talk to you. One eight hundred eighty two five
five nine four nine C in a couple quick minutes. Yeah,
(24:14):
I like this music that Zach plays. Thank you, Zach Harris,
my longtime producer and folks. Thank you, Thank you for
hanging in through the news, and thank you for tuning
in every weekend, every Saturday at ten, every Sunday morning
at eight. I can't thank you enough for taking time
out of your day for making our show, Let's Talk
Money in one of the premiere shows in the country.
(24:37):
Relating to investment topics and financial planning topics. We try
to give it to you straight. We don't hold back
as we tell clients. Sometimes we tell clients things they
don't want to hear because we don't sell investments. We
are really here to really help our clients, give them
our professional advice, give them our opinion. And as I
(25:02):
like to say to clients, we get paid to take
the emotion out of the decision making process. Because we're
all human. It's human nature to react to news and
bad news and noise in the marketplace, to think with
our heart, and it's our job to think logically and
(25:23):
rationally with information and to take that emotion out of
the decision making process on behalf of our clients. That's
why our clients put their full faith and trust in us.
They give us discretion to manage their portfolios, and we
do a really, really good job. And I do have
a team of twenty professionals that I'm surrounded by that
(25:46):
they are second to none. And when our State of
the Economy is up this coming week on our website,
you'll get to meet them all and you'll see how
dynamic they are. A lot of them help me do
the show when I take a day off here there
today you have me Steven Bouchet, and I'm your host.
Thank you for listening, and please call in with questions.
(26:08):
One eight hundred eight two five, five, nine four nine.
Let's go to the phone lines where we have Jim
from my hometown Troy, New York. Hello Jim, Hey, good.
Speaker 2 (26:21):
Morning Steve, and thank you again for you know, the
willingness to share this with the listener's. You know, your expertise,
It's much appreciated.
Speaker 1 (26:32):
I appreciate those comments.
Speaker 2 (26:34):
Yeah, yeah, I've listened to you for quite a while, Steve.
I know that you know long term investing time in
the market is much better than trying to time the market.
And also you know your your comments occasionally of when
there's blood in the streets, there's opportunity. So I've got
(26:54):
I've I've got a couple hundred thousand dollars that I've
kept in cash and and I primarily have probably like
a year outlook of maybe needing that. But I'm just wondering,
is that I've got other assets that if it happened
to go down, I could I could recover from it.
(27:15):
But I'm just wondering, is there some opportunity out there,
you know, with all the volatility, something that you would
you know, like I look at Google, or I look
at Facebook or or even I know you've mentioned H
d U HP. I think it's the use do you
see H? And forget about the term. It's an ETF
that you've told us before that you're invested in. It's
(27:39):
a high profit profitability US company based e t F.
I think it's d U C H or I'm getting
it wrong. I apologize, but I'm just wondering, I is
there do you see any anything out there because of
the volatility that you think that there's money to be
made in the short term?
Speaker 1 (27:58):
I do, Jim, and you're so right. Sophisticated investors they
look at volatility as an opportunity. They don't get scared
with volatility. They don't you want to sell. Remember, investors
only lose money when they sell. When they sell, they
realize losses. So right now we have NASDAK thirteen percent off,
(28:21):
it's high. You have the broad stock market index about
eight nine percent off, it's high. So if you were
to sell, you're selling let's say nine to thirteen percent
off the high. Now that's you know why do that.
If I put it in perspective, it's like going back
(28:42):
to September, It's like you haven't been invested since September.
And most people are long term investors, so most people
have time on their side. This listen. Like every correction
in bear market and even recessions in the past, the
markets have always recovered. The mar markets have always gone
on to make new all time highs Now, we also
(29:05):
gave you know, I talked about our state of the economy.
Because when we get this information up on the website
and we share it with the listening audience, listen. Listening
audience has been good to us, and I have no
problem sharing with the listening audience, just just you know,
all the information that we have. It's like Mercedes used
(29:26):
to share with other car companies their safety protocol to
make everybody safe. I want everybody to be financially independent.
I have a lot of believing there's a lot of
financial advisors out there that work for other companies that
I know listen to this show because of the information
that I give, and I'm proud of that. But you
(29:47):
know what you what you have to do is you
have to look at opportunities like this to go and buy,
you have to have the stamina that say, listen, Monday,
I'm going to take advantage of this model. Now I
can either be fifty percent right or wrong. Not a
week from Monday and a month from Monday, maybe the
(30:07):
markets will be up, maybe the markets will be down.
But I just know we're off the high. There's a
lot of bad news. Do you think the markets don't
realize that President Trump is talking TIFFs and it's all
about teriffs this week. Listen, there's no secrets, so the
cats out of the bag. So what markets don't like
(30:28):
are unexpected surprises. It's not a surprise that this administration
is talking tough on tariffs. Now, my personal opinion, and
I am not a Republican when I say this, so
for those of you out there, I'm not being political.
My personal opinion is this great country of ours is
going to be better off at the end of the
(30:50):
day when all of this, when we square up with
the rest of the world, when we get to be
in a more let's say, fair predicament with the rest
of the world. There was a day when this great
country of ours, we did not have income taxes like
we have today. This country lived off tariffs. Well now
(31:13):
we're living off of you and I and every taxpayer
in this country. And remember half the population doesn't pay
any taxes, so half of us are paying taxes for
one hundred percent of the population. So in the old days,
way back when tariffs is how this country got revenue.
(31:33):
And that's what this president is trying to do is
listen the countries out there that are taking advantage of us.
He's not allowing not to happen anymore. So as tough
as it is to hear tars and believe me, I'm
a wine drinker. When I heard two hundred percent tariffs
on alcohol coming in from France and Italy, I mean
(31:55):
those are my favorite wines. I even cringed a little.
I said, maybe I should stop. But that's how we think.
You know, sure things may be more expensive, it'll be
short term pain, but at the end of the day, Jim,
I'm optimistic that it's going to be good. So to
answer your question, listen, if you want to take it
in a year, I would say. If I put on
(32:17):
my certified Financial Planner hat, I would say, well a year,
anything could happen and you may be down in value.
But if you're a gambler, I always I always tell
the listening audience my emergency fund is and has always
been invested in the stock market. It doesn't scare me
to be invested in the stock market. I know that
(32:39):
markets go up and down, and hopefully I'm still working
and I won't need my savings, but my savings, my
emergency fund has grown, and I have a play account,
and right now I do like most of the Mag seven.
You know you got Alphabet from the high from the
fifty two week high, down twenty one percent. Amazon down
(33:02):
twenty percent. Our number one holding is that in Apple
Apples down nineteen percent, metal, which is a pretty safe bet.
I think at these levels, down twenty percent. Microsoft another
great company, down nineteen percent from the fifty two weeks high.
Navidia down twenty three percent, thirty times price to earnings ratio,
(33:24):
first time in ten years that it's been that cheap,
and I hate the word cheap. And then rounding out
the last of the MAG seven and I'm not sure
if we should be calling it MAG seven or MAG
six and kick Tesla out. Tesla is down fifty percent,
So there are some great buying opportunities out there, if
(33:46):
you're willing to take a gamble knowing that listen, you
either will win or lose. You'll either profit or or
have some tax write offs. I like blood in the
Street's blood in the street right now. But as I said,
the market doesn't like unexpected surprises, and there's no surprise.
(34:07):
We're talking tariffs, folks. It's all about teriffs this past week.
It's all about tariffs. This coming week, we're going to
have the Fed. They meet Tuesday and Wednesday. More than
likely they'll leave interest rates alone. On Wednesday, maybe they'll
talk about another cut, maybe in May. I don't know,
but I think interest rates will stay the course. I
(34:30):
don't think they'll hike interest rates, but I also I'm
not sure they'll lower interest rates. We'll see, but I
think there's more reason to be optimistic, to be honest
with this volatility than not. That's that's my personal opinion, Jim.
I don't have a crystal ball, no.
Speaker 2 (34:49):
I think you see so it sounds like the mag seven.
You really think it's you know, they've been beating up
a little bit, and there's probably in a year's time frame,
hopefully they might be might be an opportunity for like
you said, it might not be. There's no there's no
guarantees in life here.
Speaker 1 (35:05):
No, there's there's there's no no guarantees at all. No
no guarantees. What's whatsoever? Thanks Jim, good good good, good question. Really,
uh a great question. And round Hill. Magnificent seven is
an E t F MAGS M A G S. If
(35:27):
you want an equal weighted one E t F, especially
for small investors, you can buy M A G S
and you can invest in the entire group of the
Magnificent Seven with that one E t F and buy that.
It's it's less risk. You don't have to go out
and buy seven individual styles. You buy one E t F.
(35:50):
They own equal amounts M A G S one eight
hundred eighty two, five, five, nine, four nine. Those are
our phone numbers. Give me a call. Let's go back
to the phone lines. We have Christina in Kinderhook, beautiful Kinderhook.
How are you, Christina?
Speaker 2 (36:08):
Very good?
Speaker 3 (36:09):
How are you?
Speaker 1 (36:10):
I'm doing wonderful, very good.
Speaker 3 (36:13):
Okay, So my question is my husband and I are
fifty five right now and we are planning I'm retiring
in two years. We both have good pensions, we both
had deferred compensation type accounts that have about seven hundred thousand.
We have a rough IRA that has about one hundred thousand,
and our mortgage on our home should be paid off
(36:34):
when we retire. So my question is how soon should
we start talking with a financial advisor or planner to
help us figure out what to do with our assets
once we retire.
Speaker 1 (36:47):
Probably right now, if you're a couple of years away,
you really, you know, you should probably be planning that out.
Two years will be here, come and go real quick,
and it'll be nice for you to know what you're doing.
And congratulations, Christina, for you and your husband be able
(37:07):
to retire at an early age if you plan for
this and you can make it work. You know, I
said to my clients on Tuesday and Wednesday. Our tagline
is health, Wealth for life. And I say this often
because I can't remind the listening audience enough. When you
have your health, you have everything, Christina, You really have everything,
(37:29):
and that should never be taken for granted because you
never know when it could be taken away from you.
And when you have your loved one, your spouse, your partner,
your you know, the one you care about and want
to spend life with. When you both are together and
you're both healthy, God you're blessed. And last but not least,
(37:53):
if you can make it work, don't mess around because
you never know when number one and number two could
change your health and or your loved one. And you know,
last year I had a year from hell. It was
really you know, I lost you know, my wife and
I went through some health stuff and I had an
(38:13):
eye opener, and I think, I'm you know, I always
have talked like this with clients, but now I can
even talk even more deeply and passionately and sincerely with
clients because it's happened to me. And when your life
changes before your eyes, you know, you have a whole
new perspective on life. So for you and your husband
(38:37):
to be able to retire at fifty seven, that's a
beautiful thing. And remember, you know, as I said on
the first half of the show, the actuary tables say
that you're going to live twenty five, thirty thirty five years,
if not both of you, at least one of you
through those retirement years. That's a long term. So what
you don't want to do is is, you know, take
(38:59):
your money and put under the mattress now, because listen,
you've worked hard for your money. You want your money
to work hard for you. That's the key is to
make sure that you're well diversified, you have a good portfolio,
that you're able to have your money keep up with inflation.
What I mean by that is, over the last ninety
years or so, inflation has averaged about three point four percent,
(39:23):
and right now it's probably just under three percent, depending
on which indicator you look at. So if inflation is three,
let's say three percent, just to use round numbers. And
if you're earning four percent on your money, which right
now you can. If you buy a ten year treasury,
you're getting four percent, your real rate of return is
(39:46):
one percent. Now, if you're putting your money under the mattress,
not getting any return on it, or getting one or
two percent, and inflation is three percent, well you're losing
money a year. You're losing purchasing power. And if you
look at asset classes, you know the first half of
the show, I gave the fifteen year average of the
(40:06):
broad stock market index, the S and P thirteen percent
a year, year in year out over the last ninety years.
That's been ten percent a year, year in, year out
bonds over the last fifteen years two point three percent
year in, year out. Big difference. Would you rather earn
(40:26):
two point three percent or thirteen point two percent? Me?
One hundred percent of my money's invested in the stock market.
I show that to clients. Any client who wants to
see my portfolio, my advisors know to show it to them.
I'm invested just like my clients, something that a lot
of wealth advisors can't say because they invest their money
(40:49):
differently than their clients. Not me. I invest my money
like my clients, and I'm very comfortable with risk. It
doesn't bother me. Actually, to be honest, I'm going to
look for some cash that I might have hidden in
some coffee cans and put it to work in the
stock market this week. I am actually going to take
(41:10):
advantage of this blood in the street, this volatility, because
I think it's going to be short lived. So right
now at fifty five, for you and your husband, if
you haven't sat down with a financial advisor, it's a
good time to sit down with the financial advisor and
call my office. You know, we'll help you. If we
can't help you, we'll point you in the right direction,
(41:31):
but get an idea of what you and your husband
can do and how retirement will look so that you
have something to look forward to. It's never too early.
Speaker 3 (41:42):
Very good, Oh, I appreciate all your advice, and it's
good to hear you again on the radio and pushing
you and your family well.
Speaker 1 (41:48):
Thank you so much, Oh Christina, thank you very much.
You know, I was off the radio for a while
because I wasn't able to do the show. And you know,
it sounds as though Christine remembers, last year was a
long year for me, and it feels good to be back.
I do take some days off here and there, and
(42:08):
my my, you know, I always say, I'm surrounded by
twenty professionals, colleagues that are second to none, and they
care for my clients as much as I care for them.
They take care of my clients as much as I
take care of my clients. They are there to help
(42:28):
our clients in every which way possible. Our clients are
first and foremost on our mind. That's all that matters
to us is helping our clients, getting them in a
good spot. One eight hundred eight two five, five, nine
four nine, one eight hundred eight two five fifty nine
(42:49):
forty nine. If you have any questions, folks, the phone
lines are open. Give me a call. I would love
to talk to get you pointed in the right direction.
You know, I have had a long year, and you know,
I have a friend who serves as a priest in
the Vatican, and he was able to set me up.
(43:09):
I'm going to the Vatican right after Chris or right
after Christmas, right after Easter. Actually I'm leaving Easter Sunday,
so I probably won't be doing radio that that that
that weekend. I just booked my trip and the Vatican
is going to say a prayer for me on Tuesday morning,
(43:30):
which will be pretty special, you know, to be in
the Vatican and have your name mentioned and have a prayer,
you know, said for you. And then on Wednesday, God willing,
I have a private meeting with Pope Francis, and I'm
just starting to read his autobiography, which he did not
(43:53):
want released until after his passing, and he decided to
have it released now. And it's pretty good book. Pope
Francis is a pretty special man. It's called Hope h Ope,
and it's an autobiography be careful. There's a couple of
books out there called Hope, but this is Hope with
(44:14):
a picture of Pope Francis right there on the cover,
and it'll say it's an autobiography and I'm looking to
read it before before I meet with the Pope, and
God willing, I'll be able to meet with the Pope.
I pray that he gets better, and not not just
so I can meet with him, but just because he's
(44:34):
a good man. He cares for people. He cares for
all people. He could care the color of your skin.
He could care less who you decide to love. He
could care less you know what faith you are. This
Pope loves all people, and that's a beautiful thing. And
I'm you know, I'm really looking forward to to going
(44:57):
to the Vatican. And you know, just after the year
that I had, I can say I'm looking forward to
this as much as I can look forward to anything,
you know, it's just I'm looking forward to it. One
eight hundred eighty two five five nine four nine one
(45:18):
eight hundred eighty two, five fifty nine forty nine. So
you know, the mag seven, this is a story in
this week's Barrens. The mag seven is going to the
LAG seven. We're talking. You know, I just gave you
know that the numbers Alphabet down twenty one percent, Amazon
(45:40):
down twenty, Apple down nineteen, Meta down twenty, Microsoft down nineteen,
the Video down twenty three, Tesla down fifty. You know.
So the MAG seven is the LAG seven. And they
contributed more than half of the S and p's gain
of twenty three percent last year twenty twenty four as
(46:01):
they rose on the average sixty percent. Think about that
with stocks down on average fifteen percent this year. You know,
they now count for about ninety five percent of the
indexes decline. That's how powerful the MAG seven is. It's crazy,
but that's just how powerful it is. So you don't
(46:24):
want to be really overweight in it. And I told
you there's an ETF Brownhill Magnificent seven mags where you
can buy one ATF incorporated into your portfolio. It's equal
weighted between those seven stocks. Let's go back to the
phone lines where Mark is in Boston Lake on hold.
Speaker 4 (46:44):
Hello, Mark, Hey, how's going, Steve good?
Speaker 1 (46:48):
Thank you, thank you for calling.
Speaker 2 (46:51):
All right.
Speaker 4 (46:51):
I've been listening to you for a while so appreciate
all your advice. And so my question so back some
time ago, I remember you said that precious metals are
not part of your folio? What's your Is that still
your take now? And a little advice on that.
Speaker 1 (47:07):
I was going to talk about gold today if I
had time. I wish, I wish, I wish. I said
that three times, right, I wish for the fourth time
gold was part of our portfolios. Gold. I'd never expected
gold to be performing. Is is well? Is it is?
(47:27):
But gold is really performing magnificently, no take or upon
on the Magnificent seven. It exceeded three thousand dollars a
troy ounce for the first time ever. Because of economic
uncertainty and safe have in demand and looks well placed
to keep benefiting from these factors in the long run.
(47:49):
When there's blood on a street, you know, gold doesn't
have any intrinsic value. It doesn't pay a dividend. It
closed at a record high twenty nine to ninety nine
point thirty cents an ounce. In European evening trading, it
was as high as threeenty seventeen dollars. There's a lot
of good reason why gold can continue to do well.
(48:13):
And as I said, we're coming up to the end
of the show. So I can't get into it. But
you know we don't have it in our portfolios. I
wish we did. Mark. Thank you for the phone call. Folks,
you're listening to Let's Talk Money, brought to you by
Bouchef and Andrew, where we help our clients prioritize their
health while we manage their wealth for life. I can't
(48:34):
thank you enough for tuning in. Go to our website
Bouchet dot com biz in boy ou ch e y
dot com. There's a lot of good information. White papers,
have a great day. Thank you for tuning in.
Well, well, well, well, folks, here we are the middle
of March. The year is flying by, and we've had
a little excitement in the stock markets. For those of
you that really didn't catch on to that, good for you.
You save yourself a lot of stress. For those of
(00:37):
you that did, and you watch the markets, especially Monday
when Nasdaq was down four percent, just forget about it.
We'll pass this volatility. It'll be behind us before we
know it, hopefully sooner than later. I don't have a
crystal ball. I can't tell you when the volatility will end.
(00:58):
I just know that it will end. And when it ends,
all of a sudden, investors will say, well, you know,
that didn't feel good at the time, but I guess
it's like every other correction and bear market. We get
through it, and that's exactly what will happen now. Folks,
don't get too nervous about it. If you're a long
term investor, if you've taken our advice on this show,
(01:20):
and you've taken one to two years worth of your
cash needs put it into a conservative allocation, then you
have nothing to worry about. Just sit back, relax, enjoy
the nice weather that's coming. The longer days, the sun
is higher. I'm telling you, it's just a beautiful thing.
Spring is in the air. I'm Steven Bouchet. I'm your
(01:41):
host today and I can't thank you enough for taking
time out of your day to tune in. If you
have any questions, any questions whatsoever, the phone lines are open.
Zach Harris, my long term producer, and I are here.
We would love to talk to you. Love to get
your pointed in the right direction, with love to calm
your nerves if you're a little nervous. One eight hundred
(02:04):
eight two five five nine four nine one eight hundred
talk WGY. That's one eight hundred eight two five fifty
nine forty nine. Any questions whatsoever, Folks, give me a call.
As they said, whatever you do, do not do not
make any knee jerk reactions. The world is not coming
(02:26):
to an end. It hasn't come to an end yet
because of volatility. It's not coming to an end. Now.
That's what you have to keep in mind. The market
always goes back, makes new time highs, and all of
a sudden everything feels a lot better. So we had
almost four hundred clients this week. We do our annual
(02:48):
State of the Economy presentation probably one of the best
things that I can do as a farm on behalf
of our clients, and I'm telling you it's We had
almost four hundred clients between We had a luncheon on
Tuesday at dinner Tuesday night, both in Saratoga. We actually
had it at the eighteen sixty three room, which is
(03:11):
right there on the finish line of Saratoga Racetrack. It's
a pretty pretty good venue, a lot of technology. You know,
you can't turn your head without seeing a TV. And
our presentation and my colleagues and I were up on stage.
Most of my wealth advisors were part of the presentation,
and I was very proud of the presentation they put together.
(03:35):
They put a lot of work into it. They gave
some really good information. We'll have it up on our
website probably this coming week. Sam Samantha Macy in my
office is working with our production team to finish editing
it and we'll have it for the listening audience to
look at it. It's probably the best hour you can spend,
(03:58):
especially if you're thinking about reaching out to us to
schedule a free initial consultation. When you see our State
of the economy presentation. When you see the information we give,
when you see how dynamic my team is at presenting
this information. And you know, I had my leadership team, Marty,
(04:22):
Ryan and John they were you know, big presenters, and
I also had Samantha Macy, Vincenzo, Testa, Pallo La Pietra,
Harmony Wagner. We really had a you know, just an
amazing presentation and we did, you know, economic outlook, an
(04:44):
economy that is resilient, which this economy is resilient, where
are the challenges of the economy, the impacts of terrorists,
tax policy update. Vincenzo did a good job on that
portfolio positioning. Pollow came in and shared what's going on.
(05:05):
Ryan ended out the presentation with market perspective and outlook,
and then we had questions and answers and I'm telling you,
we gave a lot of good information and it was
really just something something that we're proud of. And as
I said, for our clients that we invited, we can't
(05:29):
invite all our clients, but most of our clients we
were able to invite. And for the clients that we
couldn't invite, we'll be sending them a link and as
I said, we'll have it up on the website, So
stay tuned. Go to our website Bouche dot com look
for It'll be well worth your time to take a look.
One eight hundred eighty two five five nine four nine
(05:53):
one eight hundred eight two five fifty nine forty nine.
If you have any questions, any questions, what's so ever,
please give me a call. Let me help get your
pointed in the right direction, let me help give you
some things to think about. You know, I say often
I get energized doing the show, and I do get
(06:14):
energized doing the show. This show never gets so old
for me, and I can't begin to tell you that
that I'm coming here and helping you the listening audience
is something that just brings me a lot of joy,
and it makes me feel really good about helping people
(06:36):
that may not have an advisor, maybe people that have
advisors that maybe they're just not doing a job for them,
or others that may be doing it on their own
and think with their heart rather than logically and rationally
with their heads. So you know, all of the above,
I'd like to help the listening audience out with. So
(06:57):
if you have any questions one eight hundred eight two
five five to nine four nine. So what happened last week? Well,
Monday was, oh, well Monday was a little crazy, right. Yeah.
You probably went to home and had dinner Monday night
and said, why why am I ever in the stock market? Well,
(07:19):
you know, Monday started out. Mark Carney, the former Banker
of Canada and Bank of England governor and now the
new Canadian Prime Minister, said Canada will never be part
of the US. So I guess he's basically saying that
the Canada will not be the fifty first state of
this great country of ours. You also had China's tariffs
(07:41):
on US farm goods began. You got President Donald Trump
didn't rule out of recession, you know, not that he's
hoping for a recession, but he's you know, he's not
hiding underneath the rock, folks, He's he's he's pretty right
out there, pretty straightforward with US comments. You know, stocks
really took a blood bath on Monday and continued on Tuesday.
(08:05):
After President Trump threatened to double steel an aluminum tariffs
on Canada, and before we did the presentation on Tuesday night,
that was off the table. That's how quick this administration
acts and reacts, you know, on on. You know, you
(08:27):
had metal tariffs began at twenty five percent. On Wednesday,
Europe and Canada retaliated. February inflation slowed two point two percent,
cooling off a little less than what was expected. Odds
rose that Congress would keep the government open, triggering a
Friday rally. For the week, the Dow fell three point
(08:50):
one percent, the S and P fell two point three percent,
NASDAC fell two point four percent, and gold went above
three thousand dollars an ounce on Friday, closing at a
record high. So there you have it. That was how
the week went. And as I said, it was a
pretty wild week, a crazy week. I know that year
(09:14):
to date the markets are down. You have the SMP
down four point one percent, Nasdaq is down twice that
NANSDAK is down eight point one percent. QQQ is down
six point two percent, so fifty percent more than the
broad stock market index. Russell two thousand is down eight
point three percent. Shared with clients on Tuesday and Wednesday
(09:37):
at our State of the Economy address that we have
a pretty significant position in NASDAK as much as the
broad stock market index. Those are our two core holdings.
And as I said on Tuesday and Wednesday, if you
have Nasdaq in your portfolio, NANSDAK is a little bit
more volatile than the S and P, you'll it go
(10:00):
up more, you'll see it go down more. If you
look at the fifteen year average of the S and
P with all the headlines, all the craziness, thirteen point
two one percent year in year out, year in, year out,
thirteen point two one percent. And if you look at
the same fifteen year period for NASDAK eighteen percent, eighteen
(10:22):
percent year in, year out. Even though QQQ is down
six point two the S and P is down four
point one And if you want to compare it to bonds,
year to date, bonds is up two percent, but over
fifteen years, your average fifteen year average year in, year
out two point three percent. And as I said on
(10:44):
Tuesday and Wednesday, a lot of investors put bonds in
their portfolio of soften the volatility, and it does, but
that doesn't mean that bonds aren't You know that volatile
bonds can lose money. If you look over the last
ten years, were down two of those ten years, So
bonds can go down guess what. If you look over
(11:05):
the last ten years, stocks were down two out of
ten years, so believe it or not, twenty percent of
the time, both stocks and bonds. If you look at
the broad indexes for each asset class, we're down two
out of those ten years. But bonds obviously a lot
of people put them in the portfolio to soften the volatility,
(11:28):
and you could get thirteen almost fourteen percent average return
over fifteen years. And if you have a long term perspective,
that's really how you should be looking at the investing horizon.
Most people aren't invested for fifteen days. Most people are
invested for fifteen years, whether it be investing for retirement.
(11:51):
You may have shorter goals if you have children going
to college and that's one of your savings plans, or
maybe looking to buy a second home home, but for
most people it's retirement and most people have fifteen years.
Even if you retired at the age of sixty five, folks,
you know, the actuary tables show that you're going to
be around for twenty twenty five years. That's a long
(12:13):
time and you have to keep that in mind when
you retire at age sixty five, Hypothetically speaking, that doesn't
mean you plan on passing away. It just means you
plan on retiring. So you have to keep that long
term arison in perspective. And one of the charts that
Ryan showed on Tuesday and Wednesday was if you're invested,
(12:37):
you know, listen, listen any given month, any given month,
and this this goes back for decades. Any given months,
the stock market's up sixty two percent of the time,
but nobody's invested for just a month. For a year,
any given year, the stock market is up seventy five
(12:59):
percent of the time. Now, let's put it in perspective.
Most people are five, ten, fifteen years or longer. So
any five year horizon over the last several decades, stocks
have been up ninety percent of the time. If you
look at any ten year horizon over the past several decades,
(13:22):
stocks has been up ninety five percent of the time.
And if you look at fifteen year holding periods over
the last several decades, stocks have been up one hundred
percent of the time. Why do I give this information
nowt beiz. You need to keep it in perspective. You
need to remember that if you're a long term investor,
(13:45):
and you got time on your side. Do not do
not get crazy, do not panic, Do not have kneeture
reactions when you see the stock market go up and down,
up and down, up and down. That's part of investing in.
My favorite statistic is over the last forty six years,
(14:07):
stocks have been up thirty four out of those forty
six years, and the average swing high to low, peaked
to trough in the stock market is fourteen percent a
year any calendar year over the last forty six years,
your average swing up and down over that time period
(14:30):
is fourteen percent. So here we are right now, as
we sit here today, with the week that we had,
Nasdaq is down about thirteen percent from its high, and
you have the S and P down about I don't
know eight percent from its high. We hit correction territory
last week for NASDAK and this past week we hit
(14:55):
correction territory on the S and P on Thursday where
it's down ten percent. Then on Friday the indexes recovered
as ugly as Thursday was. Friday brought hope one eight
hundred eight two five five nine four nine one eight
hundred eighty two five fifty nine forty nine I'm going
(15:16):
to take a quick fifteen second break, Zach. Folks, if
you have any questions, one eight hundred eight two five
fifty nine forty nine. You know, it's hard to stop
that jazzy music. It kind of gets you to move
(15:38):
to swing a little, right, Folks, One eight hundred eight
two five five nine four nine, any questions, give me
a call. As I said before we took that quick break,
there's reason for optimism and listen if you you know,
I said it at the State of the Economy this
(15:59):
week with my client. I said, now it's not the
time if you're a growth investor to go more conservative. Listen.
The stock market's down, you know. We hit correction territory
on Thursday for the S and P. We hit correction
territory over a week ago on NASDAC. You know, the
(16:21):
indexes have had a rough few weeks. Listen, we've been
taking it on a chin. You know, you let a
little air out of the balloon and it's expected. You know,
not to repeat myself, but the average entry year high
to low peak the trough's swing in the market is
fourteen percent and we're right there right The broad market's
(16:43):
down eight nine percent, nasdac's down thirteen percent off. It's
high and just a couple of weeks. You know, yes,
I know, I know it's been a rough couple of weeks.
But are you invested just for a couple of weeks
When you invested that money, did you plan on being
invested just a couple weeks? Absolutely not. More than likely
you're saving for retirement. That's what most people save money for.
(17:08):
And I know I say often, if you're not saving
ten to fifteen percent of your portfolio, then you're not
saving enough more than likely unless you've done some really
good got somebody trying to call me and let me
and that zach Am I still online, all right, perfect, Sorry, folks,
(17:31):
somebody did not realize that I'm doing live radio with you,
so I apologize about that interruption. But if you're not
saving ten to fifteen percent of your portfolio, more than
likely you're not saving enough. And if you're not saving enough,
that means when you get to retirement age, you don't
have enough money to retire on. What are you going
(17:52):
to do? You spend decades working, working your tail off,
earning hard earned money, and what you have to do
is discipline yourself to put some of that hard earned
money away while you're working, while you're able to save money,
come heck or high water, find a way to save
(18:13):
ten to fifteen percent of what you make. I know
it sounds crazy, especially when times are tough, but somehow, someway,
you'll make it happen. I promise you. I say this often,
and I don't mean to be funny when I say this.
I promise you if you take my advice, if you
heed my advice. On Monday morning, you go into work
(18:35):
and you say, hey, you know what, I'm only putting
four percent away into my pension plan. Let me up
at the ten percent. I promise you the first few paychecks,
you will not like me. I can assure you that
you will not be sending me well wishes. You may
you may be rubbing your nose at me. You may
(18:57):
not be liking me a whole lot. I can almost
assure you that because you're going to have less money
in your pocket. But I can also assure you in
a year, three years, five years, ten years, when you
look at how much money you having your retirement plan
because you discipline yourself to save money, I promise you,
(19:21):
maybe you'll send me a birthday card or a Christmas card.
I promise you, if you see me walk in the
aisles of the grocery store down the street, you may
give me a pat on the back and say, hey,
thank you. I didn't like you for a while, but
all of a sudden, I really learned to like you again.
I have a lot of money saved up, and I
(19:42):
know that I now have a chance of retiring with
the quality of life that I wanted to retire with.
That's what it's all about. We all have a dream,
and if you're not willing to work towards that goal
of fulfilling that dream, when you get to retirement age,
either you're going to have to keep working and you
(20:04):
have to hope you're healthy enough to work, or there's
a job out there for you to go to. So
if you're not prepared, if you don't have enough money
saved up, because remember, when you're working, you're taking your money.
You're hard to earn paycheck, and you're going to put
some of that money away. And remember the government subsidizes that.
(20:26):
If you put one hundred dollars into your retirement savings,
maybe maybe you'll miss eighty seventy sixty of it because
Uncle Sam is not taxing you on that, and they're
giving you a little tax break. Then that money grows
tax deferred. And then the beautiful thing is you have
(20:48):
an estate built up and you can start drong on it. Now.
For those of you that live well within your means
and you can put away more than ten fifteen percent,
do an IRA if you qualify for a walth IRA.
Max out your pension plan at work, especially if your
(21:09):
company is giving you an incentive to retire. That means
that if your company is matching up to four or
five six percent. Each company is different, that's free money.
You don't want to blow that free money. If your
boss is willing to give you an incentive, if you
put five percent away and they're willing to match it,
(21:29):
you know, fifty cents on a dollar or a dollar
on a dollar. Each company is different, But if they're
willing to give you an incentive to match that, that
money you put away, that's free money. Folks. That's like
getting a pay raise. And it goes to what I'm
suggesting to you. Make sure you're disciplined enough to save
(21:50):
for retirement. You get one opportunity to retire. You can't
go back and make up for all those years, all
those decades that you we're retired or working, and if
you didn't put money away, you can't go back and
make up for it. That's why I say, you've got
to make sure you're disciplined. As crazy as it is,
(22:12):
and it is crazy because especially during hard times, how
can you and with inflation rearing its ugly head, how
can you afford to put ten to fifteen percent away?
I promise you you'll get used to it. You'll get
used to not having as much money in your pocket.
We're all human folks. That means that we will spend
(22:34):
everything that comes into our pocket or pocketbook. And if
it's in your checking account, you'll spend it. If you
pay yourself first and you put it into a retirement plan,
guess what, you won't spend it because it's out of
your reach. It's already put away, and all of a sudden,
you'll see that money grow. And it's a beautiful thing
(22:57):
when your money grows, and it grows as the third
and all of a sudden, you see your network because
that's your money. Even if you work for a year,
five years, ten years, for the same company. When you leave,
that's your money. They can't keep that money. It's yours.
And when you leave a company, make sure you take
(23:18):
that money and roll it over into an IRA in
individual retirement account. Folks, we're coming up to the bottom
of the hour. You are listening to Let's Talk Money,
brought to you by Boucheting Answer Group, where we help
our clients prioritize their health while we manage their wealth
for life. The phone lines are open, stay with us
(23:38):
through the news. One eight hundred eight two five five
nine four nine One eight hundred eight two, five fifty
nine forty nine any questions whatsoever, Folks, I would love
to talk to you. One eight hundred eighty two five
five nine four nine C in a couple quick minutes. Yeah,
(24:14):
I like this music that Zach plays. Thank you, Zach Harris,
my longtime producer and folks. Thank you, Thank you for
hanging in through the news, and thank you for tuning
in every weekend, every Saturday at ten, every Sunday morning
at eight. I can't thank you enough for taking time
out of your day for making our show, Let's Talk
Money in one of the premiere shows in the country.
(24:37):
Relating to investment topics and financial planning topics. We try
to give it to you straight. We don't hold back
as we tell clients. Sometimes we tell clients things they
don't want to hear because we don't sell investments. We
are really here to really help our clients, give them
our professional advice, give them our opinion. And as I
(25:02):
like to say to clients, we get paid to take
the emotion out of the decision making process. Because we're
all human. It's human nature to react to news and
bad news and noise in the marketplace, to think with
our heart, and it's our job to think logically and
(25:23):
rationally with information and to take that emotion out of
the decision making process on behalf of our clients. That's
why our clients put their full faith and trust in us.
They give us discretion to manage their portfolios, and we
do a really, really good job. And I do have
a team of twenty professionals that I'm surrounded by that
(25:46):
they are second to none. And when our State of
the Economy is up this coming week on our website,
you'll get to meet them all and you'll see how
dynamic they are. A lot of them help me do
the show when I take a day off here there
today you have me Steven Bouchet, and I'm your host.
Thank you for listening, and please call in with questions.
(26:08):
One eight hundred eight two five, five, nine four nine.
Let's go to the phone lines where we have Jim
from my hometown Troy, New York. Hello Jim, Hey, good.
Speaker 2 (26:21):
Morning Steve, and thank you again for you know, the
willingness to share this with the listener's. You know, your expertise,
It's much appreciated.
Speaker 1 (26:32):
I appreciate those comments.
Speaker 2 (26:34):
Yeah, yeah, I've listened to you for quite a while, Steve.
I know that you know long term investing time in
the market is much better than trying to time the market.
And also you know your your comments occasionally of when
there's blood in the streets, there's opportunity. So I've got
(26:54):
I've I've got a couple hundred thousand dollars that I've
kept in cash and and I primarily have probably like
a year outlook of maybe needing that. But I'm just wondering,
is that I've got other assets that if it happened
to go down, I could I could recover from it.
(27:15):
But I'm just wondering, is there some opportunity out there,
you know, with all the volatility, something that you would
you know, like I look at Google, or I look
at Facebook or or even I know you've mentioned H
d U HP. I think it's the use do you
see H? And forget about the term. It's an ETF
that you've told us before that you're invested in. It's
(27:39):
a high profit profitability US company based e t F.
I think it's d U C H or I'm getting
it wrong. I apologize, but I'm just wondering, I is
there do you see any anything out there because of
the volatility that you think that there's money to be
made in the short term?
Speaker 1 (27:58):
I do, Jim, and you're so right. Sophisticated investors they
look at volatility as an opportunity. They don't get scared
with volatility. They don't you want to sell. Remember, investors
only lose money when they sell. When they sell, they
realize losses. So right now we have NASDAK thirteen percent off,
(28:21):
it's high. You have the broad stock market index about
eight nine percent off, it's high. So if you were
to sell, you're selling let's say nine to thirteen percent
off the high. Now that's you know why do that.
If I put it in perspective, it's like going back
(28:42):
to September, It's like you haven't been invested since September.
And most people are long term investors, so most people
have time on their side. This listen. Like every correction
in bear market and even recessions in the past, the
markets have always recovered. The mar markets have always gone
on to make new all time highs Now, we also
(29:05):
gave you know, I talked about our state of the economy.
Because when we get this information up on the website
and we share it with the listening audience, listen. Listening
audience has been good to us, and I have no
problem sharing with the listening audience, just just you know,
all the information that we have. It's like Mercedes used
(29:26):
to share with other car companies their safety protocol to
make everybody safe. I want everybody to be financially independent.
I have a lot of believing there's a lot of
financial advisors out there that work for other companies that
I know listen to this show because of the information
that I give, and I'm proud of that. But you
(29:47):
know what you what you have to do is you
have to look at opportunities like this to go and buy,
you have to have the stamina that say, listen, Monday,
I'm going to take advantage of this model. Now I
can either be fifty percent right or wrong. Not a
week from Monday and a month from Monday, maybe the
(30:07):
markets will be up, maybe the markets will be down.
But I just know we're off the high. There's a
lot of bad news. Do you think the markets don't
realize that President Trump is talking TIFFs and it's all
about teriffs this week. Listen, there's no secrets, so the
cats out of the bag. So what markets don't like
(30:28):
are unexpected surprises. It's not a surprise that this administration
is talking tough on tariffs. Now, my personal opinion, and
I am not a Republican when I say this, so
for those of you out there, I'm not being political.
My personal opinion is this great country of ours is
going to be better off at the end of the
(30:50):
day when all of this, when we square up with
the rest of the world, when we get to be
in a more let's say, fair predicament with the rest
of the world. There was a day when this great
country of ours, we did not have income taxes like
we have today. This country lived off tariffs. Well now
(31:13):
we're living off of you and I and every taxpayer
in this country. And remember half the population doesn't pay
any taxes, so half of us are paying taxes for
one hundred percent of the population. So in the old days,
way back when tariffs is how this country got revenue.
(31:33):
And that's what this president is trying to do is
listen the countries out there that are taking advantage of us.
He's not allowing not to happen anymore. So as tough
as it is to hear tars and believe me, I'm
a wine drinker. When I heard two hundred percent tariffs
on alcohol coming in from France and Italy, I mean
(31:55):
those are my favorite wines. I even cringed a little.
I said, maybe I should stop. But that's how we think.
You know, sure things may be more expensive, it'll be
short term pain, but at the end of the day, Jim,
I'm optimistic that it's going to be good. So to
answer your question, listen, if you want to take it
in a year, I would say. If I put on
(32:17):
my certified Financial Planner hat, I would say, well a year,
anything could happen and you may be down in value.
But if you're a gambler, I always I always tell
the listening audience my emergency fund is and has always
been invested in the stock market. It doesn't scare me
to be invested in the stock market. I know that
(32:39):
markets go up and down, and hopefully I'm still working
and I won't need my savings, but my savings, my
emergency fund has grown, and I have a play account,
and right now I do like most of the Mag seven.
You know you got Alphabet from the high from the
fifty two week high, down twenty one percent. Amazon down
(33:02):
twenty percent. Our number one holding is that in Apple
Apples down nineteen percent, metal, which is a pretty safe bet.
I think at these levels, down twenty percent. Microsoft another
great company, down nineteen percent from the fifty two weeks high.
Navidia down twenty three percent, thirty times price to earnings ratio,
(33:24):
first time in ten years that it's been that cheap,
and I hate the word cheap. And then rounding out
the last of the MAG seven and I'm not sure
if we should be calling it MAG seven or MAG
six and kick Tesla out. Tesla is down fifty percent,
So there are some great buying opportunities out there, if
(33:46):
you're willing to take a gamble knowing that listen, you
either will win or lose. You'll either profit or or
have some tax write offs. I like blood in the
Street's blood in the street right now. But as I said,
the market doesn't like unexpected surprises, and there's no surprise.
(34:07):
We're talking tariffs, folks. It's all about teriffs this past week.
It's all about tariffs. This coming week, we're going to
have the Fed. They meet Tuesday and Wednesday. More than
likely they'll leave interest rates alone. On Wednesday, maybe they'll
talk about another cut, maybe in May. I don't know,
but I think interest rates will stay the course. I
(34:30):
don't think they'll hike interest rates, but I also I'm
not sure they'll lower interest rates. We'll see, but I
think there's more reason to be optimistic, to be honest
with this volatility than not. That's that's my personal opinion, Jim.
I don't have a crystal ball, no.
Speaker 2 (34:49):
I think you see so it sounds like the mag seven.
You really think it's you know, they've been beating up
a little bit, and there's probably in a year's time frame,
hopefully they might be might be an opportunity for like
you said, it might not be. There's no there's no
guarantees in life here.
Speaker 1 (35:05):
No, there's there's there's no no guarantees at all. No
no guarantees. What's whatsoever? Thanks Jim, good good good, good question. Really,
uh a great question. And round Hill. Magnificent seven is
an E t F MAGS M A G S. If
(35:27):
you want an equal weighted one E t F, especially
for small investors, you can buy M A G S
and you can invest in the entire group of the
Magnificent Seven with that one E t F and buy that.
It's it's less risk. You don't have to go out
and buy seven individual styles. You buy one E t F.
(35:50):
They own equal amounts M A G S one eight
hundred eighty two, five, five, nine, four nine. Those are
our phone numbers. Give me a call. Let's go back
to the phone lines. We have Christina in Kinderhook, beautiful Kinderhook.
How are you, Christina?
Speaker 2 (36:08):
Very good?
Speaker 3 (36:09):
How are you?
Speaker 1 (36:10):
I'm doing wonderful, very good.
Speaker 3 (36:13):
Okay, So my question is my husband and I are
fifty five right now and we are planning I'm retiring
in two years. We both have good pensions, we both
had deferred compensation type accounts that have about seven hundred thousand.
We have a rough IRA that has about one hundred thousand,
and our mortgage on our home should be paid off
(36:34):
when we retire. So my question is how soon should
we start talking with a financial advisor or planner to
help us figure out what to do with our assets
once we retire.
Speaker 1 (36:47):
Probably right now, if you're a couple of years away,
you really, you know, you should probably be planning that out.
Two years will be here, come and go real quick,
and it'll be nice for you to know what you're doing.
And congratulations, Christina, for you and your husband be able
(37:07):
to retire at an early age if you plan for
this and you can make it work. You know, I
said to my clients on Tuesday and Wednesday. Our tagline
is health, Wealth for life. And I say this often
because I can't remind the listening audience enough. When you
have your health, you have everything, Christina, You really have everything,
(37:29):
and that should never be taken for granted because you
never know when it could be taken away from you.
And when you have your loved one, your spouse, your partner,
your you know, the one you care about and want
to spend life with. When you both are together and
you're both healthy, God you're blessed. And last but not least,
(37:53):
if you can make it work, don't mess around because
you never know when number one and number two could
change your health and or your loved one. And you know,
last year I had a year from hell. It was
really you know, I lost you know, my wife and
I went through some health stuff and I had an
(38:13):
eye opener, and I think, I'm you know, I always
have talked like this with clients, but now I can
even talk even more deeply and passionately and sincerely with
clients because it's happened to me. And when your life
changes before your eyes, you know, you have a whole
new perspective on life. So for you and your husband
(38:37):
to be able to retire at fifty seven, that's a
beautiful thing. And remember, you know, as I said on
the first half of the show, the actuary tables say
that you're going to live twenty five, thirty thirty five years,
if not both of you, at least one of you
through those retirement years. That's a long term. So what
you don't want to do is is, you know, take
(38:59):
your money and put under the mattress now, because listen,
you've worked hard for your money. You want your money
to work hard for you. That's the key is to
make sure that you're well diversified, you have a good portfolio,
that you're able to have your money keep up with inflation.
What I mean by that is, over the last ninety
years or so, inflation has averaged about three point four percent,
(39:23):
and right now it's probably just under three percent, depending
on which indicator you look at. So if inflation is three,
let's say three percent, just to use round numbers. And
if you're earning four percent on your money, which right
now you can. If you buy a ten year treasury,
you're getting four percent, your real rate of return is
(39:46):
one percent. Now, if you're putting your money under the mattress,
not getting any return on it, or getting one or
two percent, and inflation is three percent, well you're losing
money a year. You're losing purchasing power. And if you
look at asset classes, you know the first half of
the show, I gave the fifteen year average of the
(40:06):
broad stock market index, the S and P thirteen percent
a year, year in year out over the last ninety years.
That's been ten percent a year, year in, year out
bonds over the last fifteen years two point three percent
year in, year out. Big difference. Would you rather earn
(40:26):
two point three percent or thirteen point two percent? Me?
One hundred percent of my money's invested in the stock market.
I show that to clients. Any client who wants to
see my portfolio, my advisors know to show it to them.
I'm invested just like my clients, something that a lot
of wealth advisors can't say because they invest their money
(40:49):
differently than their clients. Not me. I invest my money
like my clients, and I'm very comfortable with risk. It
doesn't bother me. Actually, to be honest, I'm going to
look for some cash that I might have hidden in
some coffee cans and put it to work in the
stock market this week. I am actually going to take
(41:10):
advantage of this blood in the street, this volatility, because
I think it's going to be short lived. So right
now at fifty five, for you and your husband, if
you haven't sat down with a financial advisor, it's a
good time to sit down with the financial advisor and
call my office. You know, we'll help you. If we
can't help you, we'll point you in the right direction,
(41:31):
but get an idea of what you and your husband
can do and how retirement will look so that you
have something to look forward to. It's never too early.
Speaker 3 (41:42):
Very good, Oh, I appreciate all your advice, and it's
good to hear you again on the radio and pushing
you and your family well.
Speaker 1 (41:48):
Thank you so much, Oh Christina, thank you very much.
You know, I was off the radio for a while
because I wasn't able to do the show. And you know,
it sounds as though Christine remembers, last year was a
long year for me, and it feels good to be back.
I do take some days off here and there, and
(42:08):
my my, you know, I always say, I'm surrounded by
twenty professionals, colleagues that are second to none, and they
care for my clients as much as I care for them.
They take care of my clients as much as I
take care of my clients. They are there to help
(42:28):
our clients in every which way possible. Our clients are
first and foremost on our mind. That's all that matters
to us is helping our clients, getting them in a
good spot. One eight hundred eight two five, five, nine
four nine, one eight hundred eight two five fifty nine
(42:49):
forty nine. If you have any questions, folks, the phone
lines are open. Give me a call. I would love
to talk to get you pointed in the right direction.
You know, I have had a long year, and you know,
I have a friend who serves as a priest in
the Vatican, and he was able to set me up.
(43:09):
I'm going to the Vatican right after Chris or right
after Christmas, right after Easter. Actually I'm leaving Easter Sunday,
so I probably won't be doing radio that that that
that weekend. I just booked my trip and the Vatican
is going to say a prayer for me on Tuesday morning,
(43:30):
which will be pretty special, you know, to be in
the Vatican and have your name mentioned and have a prayer,
you know, said for you. And then on Wednesday, God willing,
I have a private meeting with Pope Francis, and I'm
just starting to read his autobiography, which he did not
(43:53):
want released until after his passing, and he decided to
have it released now. And it's pretty good book. Pope
Francis is a pretty special man. It's called Hope h Ope,
and it's an autobiography be careful. There's a couple of
books out there called Hope, but this is Hope with
(44:14):
a picture of Pope Francis right there on the cover,
and it'll say it's an autobiography and I'm looking to
read it before before I meet with the Pope, and
God willing, I'll be able to meet with the Pope.
I pray that he gets better, and not not just
so I can meet with him, but just because he's
(44:34):
a good man. He cares for people. He cares for
all people. He could care the color of your skin.
He could care less who you decide to love. He
could care less you know what faith you are. This
Pope loves all people, and that's a beautiful thing. And
I'm you know, I'm really looking forward to to going
(44:57):
to the Vatican. And you know, just after the year
that I had, I can say I'm looking forward to
this as much as I can look forward to anything,
you know, it's just I'm looking forward to it. One
eight hundred eighty two five five nine four nine one
(45:18):
eight hundred eighty two, five fifty nine forty nine. So
you know, the mag seven, this is a story in
this week's Barrens. The mag seven is going to the
LAG seven. We're talking. You know, I just gave you
know that the numbers Alphabet down twenty one percent, Amazon
(45:40):
down twenty, Apple down nineteen, Meta down twenty, Microsoft down nineteen,
the Video down twenty three, Tesla down fifty. You know.
So the MAG seven is the LAG seven. And they
contributed more than half of the S and p's gain
of twenty three percent last year twenty twenty four as
(46:01):
they rose on the average sixty percent. Think about that
with stocks down on average fifteen percent this year. You know,
they now count for about ninety five percent of the
indexes decline. That's how powerful the MAG seven is. It's crazy,
but that's just how powerful it is. So you don't
(46:24):
want to be really overweight in it. And I told
you there's an ETF Brownhill Magnificent seven mags where you
can buy one ATF incorporated into your portfolio. It's equal
weighted between those seven stocks. Let's go back to the
phone lines where Mark is in Boston Lake on hold.
Speaker 4 (46:44):
Hello, Mark, Hey, how's going, Steve good?
Speaker 1 (46:48):
Thank you, thank you for calling.
Speaker 2 (46:51):
All right.
Speaker 4 (46:51):
I've been listening to you for a while so appreciate
all your advice. And so my question so back some
time ago, I remember you said that precious metals are
not part of your folio? What's your Is that still
your take now? And a little advice on that.
Speaker 1 (47:07):
I was going to talk about gold today if I
had time. I wish, I wish, I wish. I said
that three times, right, I wish for the fourth time
gold was part of our portfolios. Gold. I'd never expected
gold to be performing. Is is well? Is it is?
(47:27):
But gold is really performing magnificently, no take or upon
on the Magnificent seven. It exceeded three thousand dollars a
troy ounce for the first time ever. Because of economic
uncertainty and safe have in demand and looks well placed
to keep benefiting from these factors in the long run.
(47:49):
When there's blood on a street, you know, gold doesn't
have any intrinsic value. It doesn't pay a dividend. It
closed at a record high twenty nine to ninety nine
point thirty cents an ounce. In European evening trading, it
was as high as threeenty seventeen dollars. There's a lot
of good reason why gold can continue to do well.
(48:13):
And as I said, we're coming up to the end
of the show. So I can't get into it. But
you know we don't have it in our portfolios. I
wish we did. Mark. Thank you for the phone call. Folks,
you're listening to Let's Talk Money, brought to you by
Bouchef and Andrew, where we help our clients prioritize their
health while we manage their wealth for life. I can't
(48:34):
thank you enough for tuning in. Go to our website
Bouchet dot com biz in boy ou ch e y
dot com. There's a lot of good information. White papers,
have a great day. Thank you for tuning in.
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