Episode Transcript
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Speaker 1 (00:07):
It's a little funny this feeling.
Speaker 2 (00:15):
Not one those still can He's a.
Speaker 1 (00:22):
Don't have much money boy. Why, good morning, folks, how
are you on this Sunday morning? March twenty third? Is
the spring is now in the air. It's official. The
days are getting longer, the sun is warmer. I'm telling you,
(00:43):
you know that the flowers are going to start blousing
them soon. What a weekend, What a I'm telling you
what a week in the markets. The markets were actually
up this week. We'll get into that in a few minutes. Well,
first of all, thank you for taking time out, Thank
you for getting up early on a Sunday morning to listen.
I am Stephen Bouchet. I do have some really really
(01:08):
just talented colleagues. Ryan did the show yesterday and what
a show he had. If you haven't listened to it,
you can go to our website or go to your
favorite podcast wherever you listen to podcasts, and just look
up Bouchet fin Answer Group. The best place is the iHeartMedia.
That's where a lot of people around the country actually
(01:31):
listen to the show. They download the iHeart Radio app
and they look for Radio eight ten WGY. You can
listen live or look for the podcast. But what a
show Ryan had yesterday. So I appreciate him doing the show.
I kind of you know, I took some time for
me for Stevie B. But as I said, it's early
(01:53):
Sunday morning. I have a cup of java right here.
Hopefully you're getting a cup of java or a cup
of tea in breakfast. But thank you for tuning in.
And if you have any questions, any questions whatsoever, give
me a call one eight hundred talk WGY one eight
hundred eighty two five five nine four nine, any questions whatsoever. Folks, Remember,
(02:17):
during times of volatility, sometimes your heart takes over. You
just aren't thinking logically, you're not thinking rationally because you know, listen,
we're all human, and our heart, you know, sometimes wins over.
And what you can't do is let your heart make
you do things that you may regret, and things like
(02:39):
selling out. Remember, folks, when there's volatility, when the markets
are down a little bit, you don't really lose money
until you actually sell. Once you sell, then you lose money.
You realize losses. If you don't sell, it's just on paper.
You know, It's like your house. You buy home, you
(03:01):
don't have the real estate agent or the appraiser come
back every week every month to revalue the home. Right
you bought your home, you plan on staying in it
for years, so you don't care what the value of
your home is the next day, the next week, the
next month. Unfortunately, with stocks, they also investors are buying
(03:24):
stocks for long term investments. Most people are saving for retirement.
Other people are saving for their children's education, for a
second maybe vacation home. Well, for the most part, everybody
needs to save for retirement. You hear us say often
you get one shot at retirement. You can't go back
(03:45):
and make up for decades of all those years when
you should have been saving money and you did it.
So you get one opportunity to retire. You got to
be prepared. So when you have money in your pension
plan at work, whether it be a FOURU one K
is simple ira, whatever pension plan your company offers, well
(04:06):
that's the best way to save for retirement. And then
above and beyond that, if you have some extra money,
put it into sometimes a wroth ira. A lot of
younger people right now are taking advantage of roth iras,
which I love to see. I always say, wroth iras
are one of the most beautiful things that IRS is
done for us. If you don't take advantage of a
(04:28):
roth ira, if you qualify for a wroth ira, you
should be saving money in a roth ira. But whether
it be a roth ira or traditional liarra or just
a savings plan brokerage account, remember when you put money in,
that money is usually being saved for a goal that's
years down the road. So don't take this the wrong way, folks.
(04:51):
But what do you really care about the market? What
do you care if the market opens up tomorrow and
it's down. What do you care if year to date,
after two and a half, almost three short months, the
market is down? What do you care. You don't plan
on cashing in your investment in the near future. You're
(05:12):
saving for a retirement that could be decades down the road.
And even if you are fortunate enough to retire soon,
you don't plan on passing away. You're going to have
decades of living through retirement. That's long term, and that's
how you have to think long term. So what do
(05:32):
you care that the markets are down? If anything, use
volatility as an opportunity. It's one of my favorite sayings.
When there's blood in the street, that's when you want
to be putting money into the market. That's when you
want to maybe look at your portfolio, reshift some things.
All of a sudden, stocks that maybe we're too expensive.
(05:56):
Let's talk about the Magnificent seven. I gave the stats
last weekend. Magnificent seven. They're just about all down twenty
percent or so. Tesla's down almost fifty percent. If you
wanted to get into those stocks and they were too
expensive because they've been leading the market for the last
few years, well guess what, they're on sale right now. Now.
(06:20):
That doesn't mean they may not go deeper into a
discount and be on sale more, but right now they're
on sale twenty percent. So if you always wanted those
those stocks in your portfolio, well take advantage of it,
put it in your portfolio, and then forget about it.
(06:40):
Let you know, listen, go out, take a nice walk,
enjoy and enjoy the nicer days. We paid a dear
price this winter. So when it comes to investing in
the stock market, don't get hung up over the news
day to day. I can't stress that enough, folks. I
(07:00):
would love to talk to you and if you have
any questions, any questions whatsoever, give me a call one
eight hundred Talk WGY one eight hundred eight two five
five nine four nine. I'm going to take a quick
fifteen second break one eight hundred eighty two five fifty
nine forty nine. I'll see it real soon. Hello, folks,
(07:36):
Thank you for letting me. Actually, I wanted to take
a sip of my coffee, and I didn't want to
be rude and do that on live radio, so I
took that little quick fifteen second break. Zach Harris, thank
you for giving me a little break to take a
little sip of my coffee. I made a nice pot
of coffee anyway, Folks, thank you for tuning in. One
(07:58):
eight hundred eighty two, five fifty nine forty nine. So
I was talking to Zach when we were waiting for
us to go live on radio about you know, the
Boston Celtics, and Zach and I were talking about to be.
Zach's a big sports guy, huge sports guy, and you know,
(08:18):
record price six point one billion dollars, Zach, I mean
that that that that's a lot of money, isn't it
figuring He bought it for right around three hundred and
sixty million. That's a big time return on investment. That's
a that's a nice return. That's like my investors, folks,
you know, my clients make money like that. Now I'm
(08:41):
in all seriousness. Six point one billion dollars. I think
the Celtics. You know, there's a couple franchises that are
really true standout franchises. I think the La Lakers. You
got to throw in there, absolutely, the Boston Celtics, the
New York Knicks. And you got a private equity guy,
a little known guy. You know, this guy was has
(09:01):
been kind of under the radar, and he paid six
point one billion dollars, a record price for a pro
sports franchise, the most you know that that anybody's paid
for sports franchise. The deal stunned n b A insiders
and private equity investors, you know, even the guy who
(09:23):
boughted himself. I guess he's been a long time Boston
Celtics fan and he you know, he just he he's
on the road to you know, the like in basketball
even more now. I guess when you're when you're when
you're kind of going out that kind of money, you
(09:43):
got to be serious and have a passion for the
sports team that that you're buying front page of of
the the Wall Street Journal of the weekend edition, which
is really one of the better, better new papers of
the week if you can buy one. The Wall Street Journal.
(10:04):
Not only do they kind of recap the week, but
they also have a couple sections in there on life
in general. So it's not all just business. I always,
you know, Stuarts is my favorite stop, and I pick
up my Wall Street Journal my Barons every Saturday morning.
I love the folks who work at Stuarts. I think
(10:24):
Gary Dake and his dad and the whole you know,
the family of Stuarts because they're all you know, partners somehow,
some way, and I just love going to Stuarts to
buy my papers. But you know, also on the front page,
I guess Columbia University. You know, President Trump, you know,
(10:49):
stopped four hundred million dollars going in there, basically telling
these campuses to listen. You know, you're doing wrong to
be people, and you're spreading hate and it's just not right.
So that's on the front page of the paper, along
with the Boston Celtic headline. You got, you know, I
(11:14):
think the big we haven't had this since the big fire.
Oh God, when was that big fire? You know, fifteen eighteen,
twenty years ago? And where was it in Greenland? I think?
And then shut down the airspace both continents. You couldn't
fly across that big pond the Atlantic Ocean and a
(11:35):
fire shut down. He'd throw airport. There was a fire
near but nearby, and I guess it was so bad
that he throw airport shut down. And that's one of
the big airports around the world. So that created a
lot of chaos. If you were flying in the last
couple of days, you know, if you were flying across
(11:55):
the ocean, you were probably not flying. It was just
shut down. Eight hundred eighty two five five nine four nine.
Give me a call. Let's get started with some good calls.
I love talking to you. I love getting you appointed
in the right direction, giving you my personal opinion, what
I think, what I feel, And if you have any questions,
(12:19):
maybe you have an advisor that's trying to sell you
an investment to make a big fat commission, especially annudies.
You know, I'm not a big fan of annuities. I
know that they're sold in a way where you know
it's like selling, you know, ice to them, ask them out.
They make annuities sounds so good. I'm just not a
(12:40):
fan of them. There's a lot of fees in them.
There's a lot of commission to be made for the
person selling those annudies. And I think there's better ways
of investing money. I know that the buzzword is guarantee.
There's so many guarantees with annuities. You know. The big
guarantee is they always suck you in, folks. They tell you, hey,
(13:01):
if you invest one hundred thousand dollars in an annuity
and you die, and we're going through a market correction,
and let's say that one hundred thousand is worth you know,
ninety thousand or eighty thousand, guess what your beneficiaries get
one hundred thousand dollars. How do you you know? How
do you beat that? It doesn't get any better than that. Well, listen, folks,
(13:22):
I don't want you dying to take advantage of that
one guarantee that they try to sell as a benefit
with annuities. I want you to be around for a while.
I want you to be able to grow your portfolio
so that that one hundred thousand is worth one hundred
and twenty five one hundred and fifty two hundred thousand dollars.
And then if there's a ten twenty percent correction, well
(13:43):
you got money in the bank. And believe me, when
it comes to investing, if you're paying a lot of
internal management fees, that eats away at the returns. Let's
make believe the S and P is up ten percent.
And if you look over the last hundred years on
the S and P year in, year out is up
about ten percent year in, year out. Funny thing, isn't it,
(14:08):
No matter what goes on with all the chaos and
craziness around the world, with all the geopolitical stuff, with
the wars, with you know, politics in general, and even
you know, if you look over the last fifteen years,
the S and P has been up thirteen percent year in,
(14:29):
year out. Funny thing, isn't it? With all you know,
with with the headlines nastac. I only bring up nansdakcause
it's in our portfolios. Nastak is up about eighteen percent
year in year out over the last fifteen years. And
for those of you that have bonds in your portfolio,
(14:50):
bonds help soften the volatility year in, year out, over
the last fifteen years, your average return is about two
point three two percent, So you got you know, two
point three percent for bonds, almost thirteen fourteen percent for
the SMP, which is really the broad stock market, and
you have almost eighteen percent for NaSTA qq Q. That's
(15:14):
your average return year in year out. But over the
last one hundred years, your average return in the SMP
has been about ten percent. Now, you know, as we
look this year, this year, we're you know, we started
off good and then you know, obviously, you know, the
last month or so hasn't been too good. So for
the week, the Russell two thousand, believe it or not,
(15:37):
is the big winner of the Russell two thousand was
up point sixty three percent point six three percent for
the week. Year to date, it's down almost eight percent.
S and P was up a whopping half a percent
half a percent for the week, but at least it
wasn't down be a three week losing street. You know,
(16:00):
the S and P hasn't been doing too good. Year
to date, the S and P is down about three
point six percent, almost four percent. QQQ, NANSDAK one hundred
compoundsit indecks up of wopping point two five percent year
to date. Down the QQQ is down six percent. The
(16:21):
Nansdak composite as a whole, that's the entire Nansdak is
down just about eight percent year to day, but QQQ
down six percent year to date. Those are the top
one hundred companies in Nansdak. So if you're investing in QQQ,
you're investing in the top one hundred companies down point
(16:42):
two five percent year to date. And listen, folks, we've
had a good run. I just gave that statistic, you know,
eighteen percent year in year out over the last fifteen years.
That includes uh, you know this this year year to date.
It also includes twenty twenty two when Nansdak was down
(17:03):
thirty two percent, and the only other time over the
last eleven years, including year to date, in twenty and
eighteen year Nasdak was down point one two percent point
one two percent. So over the last ten calendar years,
Nansdak was down two years of the last ten calendar
(17:26):
years point one two in twenty and eighteen, down thirty
two percent twenty twenty two, and your average return over
the last fifteen years. Believe it or not eighteen percent
year in year out over the last ten years, twelve
percent year in year Oh, I'm sorry. QQQ over the
(17:49):
last ten years seventeen percent year in year out, and
that includes it being down thirty two percent in twenty
twenty two. The SMP in twenty twenty two was down
eighteen percent. In twenty eighteen, the SMP was down four
and a half percent once again, just like QQQ over
(18:10):
the last ten calendar years, down only two out of
those ten calendar years. Over the last forty six years,
the SMP was down only twelve years out of the
last forty six calendar years. That means that the SMP
was up up thirty four out of the last forty
(18:33):
six calendar years. I guess the point I'm making is
the market is up more than it's down in the
average swing. You hear me give this statistic. I only
give it because I don't want you to have knee
jerk reactions. I don't want you to panic just because
the market's down fourteen percent high to low peak the
TRUP year in year out over the last forty six years,
(18:57):
your average average swing in the stock market is fourteen
percent year in, year out, so don't don't freak out
because the market's down a little bit. The S and
P is only down less than four percent year to date,
less than four percent. I'm optimistic. I think the market
(19:20):
will be higher at the end of the year. I
think there's a lot of things too to be happy about.
When you when when when when you look at everything
that's that's going on. You know, I know the buzzword
right now is tariffs. Tariffs, tariffs, tariffs. Yeah, there's no secret, folks,
(19:41):
this country, this president and his administration is putting in
some tariffs. Don't don't, don't, don't get nervous about that.
He's trying to balance out the trade that this sits
around the world. Listen, this great country of ours has
paid our fair sh share more than our fair share
(20:02):
for a long time. And I'm not talking politics. I
could care less if you're a Democrat or Republican. I'm
a blank So I'm not a Democrat, I'm not a Republican.
I'm just talking facts, folks, Just the facts. Give me
the folk facts, nothing but the facts. So this administration
intensified trade wars, increasing terrors, affecting global economic growth forecasts.
(20:26):
You know, the couple agencies around the world, including Pitch Ratings,
downgraded their growth expectations, basically citing these trade tensions, exploring
how you know these developments impact various investment sectors. You know, listen,
(20:47):
it's no secret the stock market knows that we are
putting terrors into effect. April second, I think, is the
big day. That's when some tariffs are going to go
into effects. So remember, the stock market doesn't like surprises.
There's no surprise. We know that there's terriffs. There's no
(21:07):
surprise whatsoever. So let's get over it. Okay, I'm more optimistic. Listen,
we're putting people to work. Corporate America's got some good earnings.
You got a lot of stocks that are on sale
right now. The stock market's on sale. The Magnificent seven
is really on sale. That's like going to that Macy's
(21:28):
one day sale where you know, you know, everything's on
sale in a good way, and if you wanted these
things in your portfolio, take advantage of it now. Listen.
Maybe this week, maybe they'll be on sale more. Maybe
two weeks from now they'll be deeper discounted. But listen,
you don't know, we don't have a crystal ball. So
(21:49):
when there's blood in the street, when people are looking
to sell because they're thinking with their heart, they're being emotional,
that's when you want to think logically and rationally with
your with information. You know that the stock market goes
up and down, up and down, up and down. So
when you see stocks on sale, go in and buy.
Don't be afraid over time. Listen, my personal portfolio is
(22:14):
there for clients to look at. My advisors know that
if any client or prospective client, because they hear me
on the radio, say hey, you can look at my portfolio.
I'm an open book. I'll show it to you. I'm
one hundred percent invested in the stock market, and I
you know, I'm invested just like my clients. I'm very
(22:34):
proud of that. There's a lot of wealth advisors. I
can't say that they don't tell you what they're invested in.
They you know, they just don't tell you. So I'm
an open book. I show my clients exactly what I'm
invested in. And I'm very, very very comfortable with that. Folks,
we're coming up to the bottom of the hour you
(22:55):
are listening to Let's Talk Money, brought to you by
Bouchet and Andrew group, where we help our clients prioritize
their health while we manage their wealth for life. I
love doing the radio show. I get energized. I love
helping the listening audience. And if I can help you,
give me a call. Any questions whatsoever, Give me a call.
(23:17):
One eight hundred Talk WGY one eight hundred eight two five, five, nine,
four nine, Any questions whatsoever, Give me a call. Let
me get your pointed in the right directions. One eight
hundred eight two five five nine, four nine. I'm gonna
take a quick break for the news. I'll see you
on the other side of the news break. It's a
(23:48):
little that funny, the spelingly side one. Those who cans
don't have much money, oil FA. I like this song, Zach,
(24:13):
That's a really good song. Good morning, folks. It's not
one of my skilled and talented colleagues, and believe me,
I have some amazing colleagues. I started out the show
by saying, Ryan did the show yesterday. He had really
a dynamic show, a lot of callers, good questions. Ryan
(24:35):
handles himself pretty well. And I have so many other
colleagues that do the radio week in week out, give
me a little break. I've been doing the radio. This
is my thirtieth year doing the radio. That's a long
time and I love it. When I tell you I
love doing the radio, I can't begin to tell you
how excited I get doing the radio. And it's just
(24:59):
it's just you know, to be with you, to answer
your questions, to get your pointed in the right direction,
to give you some things to think about, maybe calm
your nerves during volatile times like this. I'm telling you
I love being here with you, and it never gets
old for me. I just love it, love it, love it.
(25:21):
And if you have any questions one eight hundred eighty
two five five nine four nine. That's one eight hundred
eight two five fifty nine forty nine, any questions whatsoever,
give me a call, folks, let me get your pointed
in the right direction. And as I said, thank you
for hanging in through the news, and thank you for
tuning in on this Sunday morning. If you're not at church,
(25:44):
and I'm going to be going to church after I
do the show, if you're not a church and you're
taking time out to listen to to the show, I
can't thank you enough. It means a lot to me.
I think it's one of the reasons why we're always
viewed as one of the premiere investment shows on the airwaves.
(26:06):
And I think, you know, the colleagues that I'm surrounded by.
Charles Schwab puts US in the top three to five
percent of all wealth management firms around the country, top
three percent. You know what an honor that is, And
it's because the team that I'm surrounded by. My colleagues
(26:27):
they are they care about my clients like I care
about my clients. And one thing that I've been able
to help mentor and coach and teach my colleagues is
to set the culture that we had at Bouchet Financial Group,
and the culture is we care about our clients. Our
clients come first and foremost. I've been in business thirty
(26:49):
five years and I've been a fiduciary for thirty three years.
We don't sell investments, We do not push annuities, mutual funds,
not sell life insurance. We are truly a fiduciary. Being
a fiduciary means we put our clients' best interests first
and foremost. That's all that matters to us. That's all
(27:13):
that we care about. My colleagues, Listen, they are one.
I always say we're second to not second to No.
One eight hundred eighty two five five nine four nine.
If you didn't, if you didn't go to church, and
you're waiting because you want to listen to this great show.
(27:34):
In my mind, it's a great show. I'm a legend,
I guess in my own mind. Give me a call.
One eight hundred eighty two five four nine. I'm getting excited.
I'm going to Rome on Easter Sunday, I fly out
and I'm fortunate enough that there's a mass being Listen.
I had a rough year, you know that, and it's
(27:57):
it's it's I'm getting excited. I'm going to see the
Pope God willing on Tuesday after Easter. The Vatican is
saying a Mass for me. So to be able to
sit in the Vatican and have your name read out
will be just you know, it'll be you know, I
can't imagine anything that that that that will be better
(28:20):
than that. And the next day on Wednesday, I hope
to see the Pope. I'm supposed to have a private
meeting with the Pope. I just picked up his autobiography
this week. It's called Pope Francis Hope. It's an autobiography.
There's a couple of books on the Pope. This is
his autobiography. He wasn't going to release it till after
(28:42):
his death. He released it with the jubilee year that
they have going on in Rome and the Vatican, and
it's it's a good, good, good book, a really good book.
So hopefully that all works out. One eight hundred eighty
two five five nine, four nine. Let's go to the
phone line. We have Ann in Saratoga Springs. Good morning, Anne.
Speaker 2 (29:05):
Good morning Steve. I have a question about I have
several individual stocks and I'd like to sell some of
them and purchase either an index fund or an ETFs
in place for them. And yeah, thinking of the Meg
seven you mentioned that last week, I think, yeah, yeah,
(29:26):
So that's wondering if there are any other index funds
you might recommend.
Speaker 1 (29:30):
Yeah, yeah, So listen, the the first of all, if
you have individual stocks, now, if you have a play
account what I call a sandbox account, I have a
couple of them, and you know one of them, I
owe just the Magnificent seven, and I plan on doubling
up this week because they are on sale. And listen,
(29:52):
why would you buy something full price when you can
buy it on sale. But that's a play account. That's
money that could go up or down, and you have
to look at it as that. If this is for
your core portfolio and in the money that you need
to live on, remember that Magnificent seven is going to
(30:12):
be volatile. And there is one ETF that owns all
seven of those stocks Alphabet, Amazon, Apple, Facebook, Parent, Meta Platforms, Microsoft, Navidia, Tesla,
and it's Round Hill. Magnificent seven is the name of it,
NAGS is the symbol. So that's one ETF where you
(30:36):
can buy all seven of those stocks in one nice
little tiny package and own that. But if you just
really want an index to track the market, we use
the Schwab Broad Stock Market Index. It takes into account
the SMP, the sm P four hundred, and the SMP
(30:58):
six hundred, so that'd be large cap, mid cap, small cap,
and it's highly correlated to the s and P five hundred,
but you're getting a little bit more stocks. You're getting
some of that MidCap and you're also getting some of
the some of the small caps in there. And I
like that So if you just want an index that
(31:21):
really represents the stock market, I would say, do the
Broad Stock Market Index. And if you want a little sexiness,
a little sassiness in the portfolio, AM put in QQQ.
We own as much QQQ as we do the Broad
Stock Market Index. It's an index that I always say
in the office, until the day i'm mentally, you know,
(31:44):
incapable of managing money and working, or I'm no longer
with you, will always own QQQ. It's an index that
I believe in. I love the companies in it, about
sixty percent of its technology. So we call it our
growth indecks. So those are the two indexes I would
(32:04):
look at. But as I said, and if you do,
if you want to take a small part of your portfolio,
one knows magnificent seven that round hill, magnificent seven MAGS
is the way to do it. One tiny little package
that owns those stocks. And they're on sale. They're on
sale twenty percent or more. Tesla is on sale fifty
(32:28):
percent right now. Actually I might load up a little
bit extra on Tesla. He goes listen. Elon Musk is
a brilliant man. This guy, I don't know how he
gets done what he gets done. And you know, listen,
our country needs to cut the deficit and he's helping
(32:51):
the president do that. I'm excited about that. Another reason
why I'm optimistic. I started to say and on the
first half of the show, and that I'm out the
mystic and I am on the stock market because I
think the stock market's going to be higher at the
end of the year than where it is now. And
a lot of people are scared because of the tariffs.
(33:11):
You know, some people are just you know, political you know,
fanatics where you know, they just you know, they don't
want to see light at the end of the tunnel.
They're just die hard, you know. They don't like this man. Listen,
whether you like President Trump or not, you have to
look at the policies. That's that's what's going on now.
(33:33):
And I like the policies. And I always say, especially
to the Democrats that tell me, oh, how can you
you know, like this man's policy. This man's a narcissist,
this man's arrogant. Listen. I could care less about the man.
I care about his leadership qualities. Listen. Did you like
Bill Clinton having sex in the Oval office? Did you
(33:54):
like JFK having Marilyn Monroe stay on the White House
Presidential yacht. Listen, we got some great leaders that personally
they may do things that you don't agree with, but
it's their leadership qualities. And I think what's going on
in this great country of ours. I think there's more
reason to be optimistic at the end of the day.
(34:15):
And we're going to have a little pain. We're going
through a little pain right now. So I do think
that stocks are on sale right now. As I said,
the SMP year to date is down less than four percent,
NASDAC QQQ is down six percent, and they're on sale.
This is the time to add them into your portfolio.
(34:35):
So if you have some stock saying that you've been
maybe maybe they're dogs, Maybe you don't want to be
playing that game of investing in individual stocks. Now it's
a good time to shake it up. And thank you
for the call. Enjoy your Sunday. Thank you for listening.
One eight hundred eighty five five nine four nine. It
(34:56):
looks like it's Ladies' day. We're going to go back
to the phone lines. We have pay in Kinderhook. Hello, Peggy, hi,
and thank you for talking about Trump and Elon and
what's going on. I appreciate your opinion and and took
the sale right out of all my questions. But I
did want to know. I've got some CDs that are.
Speaker 2 (35:18):
Paying very little, I mean little in comparison what they were.
Speaker 1 (35:23):
What did you say about Schwab? What was that account?
So listen, we're fiduciaries our clients. So we managed one
point five billion dollars and our clients' accounts. We hold
them at Charles Schwab. We could hold them at Fidelity,
we could hold them at Vanguard, but I've been got
(35:46):
since I've been a fiduciary thirty thirty three years ago,
I've been using Charles Schwab. They're the biggest, the best.
Our clients know that their account is safe at Charles Schwab.
They don't have to worry about me being a burnie
made off and taking off with their money. So we
use Charles Schwab. Our clients can go into any Charles
(36:08):
Schwab office, they can call their eight hundred numbers, get
on their website. Their accounts are at Charles Schwab. They
give us permission to make investment decisions on their behalf
and at Charles Schwab the world. It's like an oyster.
We had anything that we could possibly want to choose
from everything from FDIC insured CDs to individual stocks and
(36:33):
everything in between. We could do alternative assets, we can
do options. Anything we want we can get at Charles Schwab.
So we use Charles Schwab. And for a long time,
Vanguard used to have lower internal management fees. I talked
a little bit about it on the first half of
the show, Peggy. In every investment, whether it be an ETF,
(36:56):
a mutual fund, an annuity, they all have internal management fees.
So our broad Stock Market Index, the internal management fee
embedded in that ETF is point zero three percent point
zero three percent. The average fee in mutual funds is
(37:17):
somewhere around one percent according to morning Star, and annuities, heck,
they could be three percent or more. So to put
it in perspective, if the S and P and I
started to talk about this, I never finished my thought.
If the S and P returns ten percent and you
have an annuity with an internal management fee of three
(37:39):
that means if that S and P returns ten you're
only getting seven percent because that internal management fee is
going to cut into the return of the S and P.
With a mutual fund, you're going to get nine because
the internal management fee on average is one percent, some
are more, some are less, and our broad stock market
(38:01):
index point zero three percent, So if the S and
P returns ten, you're going to get nine point seven percent. Now,
there was a time when Vanguard had less internal management
fees than Schwab, so I would use Vanguard. And I
never wanted people our clients to think that we because
(38:22):
we don't get anything from Charles Schwab. We are a fiduciary.
We have no incentives our clients there. Charles Schwab did
not pay me to have our accounts at Charles Schwab.
We get nada, nothing, zippity do da day, absolutely nothing.
We just used Charles Schwab, as I said, for peace
(38:43):
of mind, for our clients to know that they're at
probably the best platform in the country to have their investments.
And when the Schwab internal management fees were less than Vanguard,
that's when we started using some of the ets, not
because we're with swap, because if if at the end
(39:06):
of the day, I can get our clients good returns
and internal management fees are less, then that's more money
in my clients accounts. So that's really what it comes
down to. So, Peggy, you know, I'm glad you called me.
Can I help you with anything else? No, that's good.
But you did answer a lot to and that I
(39:27):
was going to ask, and I appreciate that. I appreciate
and asking. I feel like it's Ladies' day, you know.
I'm back at the studio fifty four, dancing the night away,
Peggy with you and Ann calling in. So thank you
for calling in, Thanks for listening. I can't thank you enough.
I hope you enjoy this Sunday. And Peggy, both of
(39:47):
you ladies for calling in. One eight hundred eight two
five five nine four nine. If you have any questions, folks,
give me a call. One eight hundred eighty two five
fifty nine nine. So I started to say before I
took the phone calls that I'm going to Rome on
Easter Sunday and I'm going to see the Pope, hopefully
(40:09):
God willing. I pray for the Pope every day. I
pray for a lot of people every day. You know,
I become more faithful over the last five years, and
especially over the last year you know, losing my wife,
you know, God ten months ago, you know, I've I've
become more faithful, So I'm not I'm not pounding the drum,
(40:31):
you know, you know, beating the drum because you know,
I've always i haven't been as faithful as I am now.
But I do have a friend in the Vatican that
was able to, you know, arrange some things for me.
And I'm excited with the year that I had to
be going there and you know, as I said, having
(40:54):
them say a prayer for me, the Vatican's going to
be pretty special, you know. It's it's it's something that
I'm looking forward to. And this autobiography. You know, Pope
Francis is a pretty dynamic guy. He cares about all people.
He could care less the color of your skin. He
(41:14):
could care less what God you believe, and he could
care less who you choose to love. He really could
care less about any of that. And it's it's it's refreshing.
So I hope he gets better and I hope he's
back at work. You know. Friday was was International down
(41:38):
Syndrome Day. I put on social media Twitter, Instagram, and
Facebook a picture of my brother. I have a brother
with Down syndrome, and he's kind of like the Pope.
You know, I kind of said, listen, my brother is
is one of a kind. He has a smile that
(41:59):
is just just infectious, just and infectious. So, you know,
March twenty first is World Down Syndrome Awareness Day, you know,
basically at time to raise awareness, challenge misconceptions, you know,
more importantly, celebrate the incredible contributions and spirit of those
(42:24):
living with Down syndrome. For me, it's personal, you know,
I shared with the listening audience through the years. I
had two brothers. You know, my mom died at thirty
one and my dad at forty nine, so I've been
guardian for both my brothers. I had two brothers with
special needs. One passed away a few years ago, my
brother Danny, and my brother Brian's still with us Down syndrome.
(42:48):
And he, you know, he's special, folks. Anyone who has
met him knows him, knows the joy that he brings.
You know, he can walk into a room and you
just look at his infectious smile, his unconditional love, that
smile is on his face all the time. His desire
to be everyone's friend. You know, it reminds me, Delia,
(43:12):
what truly matters in life. And you know, Brian has
taught me more than I can ever teach him, especially
the importance of kindness and not judging others. I don't
judge anybody. I judge people for who they are, for
the people that they strive to be. And that's how
(43:35):
I look at people. We're all different in our own ways,
folks were you are all different, and that's exactly what
makes the world richer. My brother Brian, he's a constant
reminder to lead with compassion, understanding and love. So you know,
I celebrated Brian and all those like him who make
(43:58):
the world a better place just by being themselves. You know,
my brother Brian, he wants to be in the community.
He wants to be your neighbor. He wants to ride
the bus with you. He wants to, you know, go
and have a Ben and Jerry's ice cream. You know,
he's got that that that smile on his face. You
(44:18):
can go to my Facebook page and see his his picture,
or go to my Instagram page or my Twitter page
and see his his his his picture. He's just a beautiful,
beautiful soul. He can teach us a lot. If we
were all like Brian, the world would be a better place.
That's for that's for sure. Eight two, five, five, nine
(44:44):
four nine. Give me a call if you have any questions.
As they said, the markets were down a smidgeon this week,
less than I'm sorry. The markets were up this week,
a smidgeon, you know, just a smidgeon, you know, key
Qq up point five percent, the S and P up
point five to one percent. Russell two thousand up zero
(45:06):
point sixty three percent. Energy was the winner this week,
up just over three percent. This week, we had, you know,
the the as I said, because of the terroriffs and
there's some agencies cutting the growth forecast because of what
trade policies President Trump is putting in place. Listen, short
(45:31):
term pain for long term gain. I believe that, I
really really believe that the biggest victims will be Canada
and Mexico. You have Israel, the air strikes pounding Gaza,
shattered the cease fire. Listen, that's not a nice place, Hamas, hamas,
(45:54):
however you want to pronounce it. They started this war
with Israel, folks. Israel's not being a bully. They started
this war. What they did on October seventh a year
ago was inhumane terror, terrorism at it's worst. And Israel
has a right to defend itself. Whatever you think. They
(46:15):
have a right to defend itself. And they want to
wipe Hamas right off the face of the earth, and
you can't blame them. So we had that going on.
Oil and gold were up, Gold inter day highs again,
gold is really on a tear. Retail spending missed expectations.
(46:37):
Stocks were up a little bit on Monday, then fell
on Tuesday. Led my text texts were down. The Federal
Reserve held rate steady on Wednesday. No surprise, I told
you last week. I thought that the Fed Reserve was
going to hold rate steady. Fed Chair Jerome Powell did
(46:59):
come out. Hey, he thinks there may be two more
cuts this year. That's beautiful news, more reason to be
optimistic for the stock market. Friday, you had big options, expirations,
triple witching hour, or whatever you want to call it.
So you had a lot going on this week, and
as they said, the markets were up just a little bit.
(47:22):
Just this mentioned. Folks, we're coming up to the end
of the show you're listening to. Let's Talk Money, brought
to you by Bouchet Financial Group where we help our
clients prioritize their health while we manage their wealth for life.
Go to our website Bouche dot com. That's b as
in boy ohuch e y dot com. A lot of
(47:43):
good information. I think this week we're going to put
up our state of the economy. It was pretty dynamic.
We had almost four hundred clients attend over a week
ago and it's something special we do for our clients. Folks,
have a great Sunday, enjoy the week. I'll see you
next weekend. Bye bye.
It's a little funny this feeling.
Speaker 2 (00:15):
Not one those still can He's a.
Speaker 1 (00:22):
Don't have much money boy. Why, good morning, folks, how
are you on this Sunday morning? March twenty third? Is
the spring is now in the air. It's official. The
days are getting longer, the sun is warmer. I'm telling you,
(00:43):
you know that the flowers are going to start blousing
them soon. What a weekend, What a I'm telling you
what a week in the markets. The markets were actually
up this week. We'll get into that in a few minutes. Well,
first of all, thank you for taking time out, Thank
you for getting up early on a Sunday morning to listen.
I am Stephen Bouchet. I do have some really really
(01:08):
just talented colleagues. Ryan did the show yesterday and what
a show he had. If you haven't listened to it,
you can go to our website or go to your
favorite podcast wherever you listen to podcasts, and just look
up Bouchet fin Answer Group. The best place is the iHeartMedia.
That's where a lot of people around the country actually
(01:31):
listen to the show. They download the iHeart Radio app
and they look for Radio eight ten WGY. You can
listen live or look for the podcast. But what a
show Ryan had yesterday. So I appreciate him doing the show.
I kind of you know, I took some time for
me for Stevie B. But as I said, it's early
(01:53):
Sunday morning. I have a cup of java right here.
Hopefully you're getting a cup of java or a cup
of tea in breakfast. But thank you for tuning in.
And if you have any questions, any questions whatsoever, give
me a call one eight hundred talk WGY one eight
hundred eighty two five five nine four nine, any questions whatsoever. Folks, Remember,
(02:17):
during times of volatility, sometimes your heart takes over. You
just aren't thinking logically, you're not thinking rationally because you know, listen,
we're all human, and our heart, you know, sometimes wins over.
And what you can't do is let your heart make
you do things that you may regret, and things like
(02:39):
selling out. Remember, folks, when there's volatility, when the markets
are down a little bit, you don't really lose money
until you actually sell. Once you sell, then you lose money.
You realize losses. If you don't sell, it's just on paper.
You know, It's like your house. You buy home, you
(03:01):
don't have the real estate agent or the appraiser come
back every week every month to revalue the home. Right
you bought your home, you plan on staying in it
for years, so you don't care what the value of
your home is the next day, the next week, the
next month. Unfortunately, with stocks, they also investors are buying
(03:24):
stocks for long term investments. Most people are saving for retirement.
Other people are saving for their children's education, for a
second maybe vacation home. Well, for the most part, everybody
needs to save for retirement. You hear us say often
you get one shot at retirement. You can't go back
(03:45):
and make up for decades of all those years when
you should have been saving money and you did it.
So you get one opportunity to retire. You got to
be prepared. So when you have money in your pension
plan at work, whether it be a FOURU one K
is simple ira, whatever pension plan your company offers, well
(04:06):
that's the best way to save for retirement. And then
above and beyond that, if you have some extra money,
put it into sometimes a wroth ira. A lot of
younger people right now are taking advantage of roth iras,
which I love to see. I always say, wroth iras
are one of the most beautiful things that IRS is
done for us. If you don't take advantage of a
(04:28):
roth ira, if you qualify for a wroth ira, you
should be saving money in a roth ira. But whether
it be a roth ira or traditional liarra or just
a savings plan brokerage account, remember when you put money in,
that money is usually being saved for a goal that's
years down the road. So don't take this the wrong way, folks.
(04:51):
But what do you really care about the market? What
do you care if the market opens up tomorrow and
it's down. What do you care if year to date,
after two and a half, almost three short months, the
market is down? What do you care. You don't plan
on cashing in your investment in the near future. You're
(05:12):
saving for a retirement that could be decades down the road.
And even if you are fortunate enough to retire soon,
you don't plan on passing away. You're going to have
decades of living through retirement. That's long term, and that's
how you have to think long term. So what do
(05:32):
you care that the markets are down? If anything, use
volatility as an opportunity. It's one of my favorite sayings.
When there's blood in the street, that's when you want
to be putting money into the market. That's when you
want to maybe look at your portfolio, reshift some things.
All of a sudden, stocks that maybe we're too expensive.
(05:56):
Let's talk about the Magnificent seven. I gave the stats
last weekend. Magnificent seven. They're just about all down twenty
percent or so. Tesla's down almost fifty percent. If you
wanted to get into those stocks and they were too
expensive because they've been leading the market for the last
few years, well guess what, they're on sale right now. Now.
(06:20):
That doesn't mean they may not go deeper into a
discount and be on sale more, but right now they're
on sale twenty percent. So if you always wanted those
those stocks in your portfolio, well take advantage of it,
put it in your portfolio, and then forget about it.
(06:40):
Let you know, listen, go out, take a nice walk,
enjoy and enjoy the nicer days. We paid a dear
price this winter. So when it comes to investing in
the stock market, don't get hung up over the news
day to day. I can't stress that enough, folks. I
(07:00):
would love to talk to you and if you have
any questions, any questions whatsoever, give me a call one
eight hundred Talk WGY one eight hundred eight two five
five nine four nine. I'm going to take a quick
fifteen second break one eight hundred eighty two five fifty
nine forty nine. I'll see it real soon. Hello, folks,
(07:36):
Thank you for letting me. Actually, I wanted to take
a sip of my coffee, and I didn't want to
be rude and do that on live radio, so I
took that little quick fifteen second break. Zach Harris, thank
you for giving me a little break to take a
little sip of my coffee. I made a nice pot
of coffee anyway, Folks, thank you for tuning in. One
(07:58):
eight hundred eighty two, five fifty nine forty nine. So
I was talking to Zach when we were waiting for
us to go live on radio about you know, the
Boston Celtics, and Zach and I were talking about to be.
Zach's a big sports guy, huge sports guy, and you know,
(08:18):
record price six point one billion dollars, Zach, I mean
that that that that's a lot of money, isn't it
figuring He bought it for right around three hundred and
sixty million. That's a big time return on investment. That's
a that's a nice return. That's like my investors, folks,
you know, my clients make money like that. Now I'm
(08:41):
in all seriousness. Six point one billion dollars. I think
the Celtics. You know, there's a couple franchises that are
really true standout franchises. I think the La Lakers. You
got to throw in there, absolutely, the Boston Celtics, the
New York Knicks. And you got a private equity guy,
a little known guy. You know, this guy was has
(09:01):
been kind of under the radar, and he paid six
point one billion dollars, a record price for a pro
sports franchise, the most you know that that anybody's paid
for sports franchise. The deal stunned n b A insiders
and private equity investors, you know, even the guy who
(09:23):
boughted himself. I guess he's been a long time Boston
Celtics fan and he you know, he just he he's
on the road to you know, the like in basketball
even more now. I guess when you're when you're when
you're kind of going out that kind of money, you
(09:43):
got to be serious and have a passion for the
sports team that that you're buying front page of of
the the Wall Street Journal of the weekend edition, which
is really one of the better, better new papers of
the week if you can buy one. The Wall Street Journal.
(10:04):
Not only do they kind of recap the week, but
they also have a couple sections in there on life
in general. So it's not all just business. I always,
you know, Stuarts is my favorite stop, and I pick
up my Wall Street Journal my Barons every Saturday morning.
I love the folks who work at Stuarts. I think
(10:24):
Gary Dake and his dad and the whole you know,
the family of Stuarts because they're all you know, partners somehow,
some way, and I just love going to Stuarts to
buy my papers. But you know, also on the front page,
I guess Columbia University. You know, President Trump, you know,
(10:49):
stopped four hundred million dollars going in there, basically telling
these campuses to listen. You know, you're doing wrong to
be people, and you're spreading hate and it's just not right.
So that's on the front page of the paper, along
with the Boston Celtic headline. You got, you know, I
(11:14):
think the big we haven't had this since the big fire.
Oh God, when was that big fire? You know, fifteen eighteen,
twenty years ago? And where was it in Greenland? I think?
And then shut down the airspace both continents. You couldn't
fly across that big pond the Atlantic Ocean and a
(11:35):
fire shut down. He'd throw airport. There was a fire
near but nearby, and I guess it was so bad
that he throw airport shut down. And that's one of
the big airports around the world. So that created a
lot of chaos. If you were flying in the last
couple of days, you know, if you were flying across
(11:55):
the ocean, you were probably not flying. It was just
shut down. Eight hundred eighty two five five nine four nine.
Give me a call. Let's get started with some good calls.
I love talking to you. I love getting you appointed
in the right direction, giving you my personal opinion, what
I think, what I feel, And if you have any questions,
(12:19):
maybe you have an advisor that's trying to sell you
an investment to make a big fat commission, especially annudies.
You know, I'm not a big fan of annuities. I
know that they're sold in a way where you know
it's like selling, you know, ice to them, ask them out.
They make annuities sounds so good. I'm just not a
(12:40):
fan of them. There's a lot of fees in them.
There's a lot of commission to be made for the
person selling those annudies. And I think there's better ways
of investing money. I know that the buzzword is guarantee.
There's so many guarantees with annuities. You know. The big
guarantee is they always suck you in, folks. They tell you, hey,
(13:01):
if you invest one hundred thousand dollars in an annuity
and you die, and we're going through a market correction,
and let's say that one hundred thousand is worth you know,
ninety thousand or eighty thousand, guess what your beneficiaries get
one hundred thousand dollars. How do you you know? How
do you beat that? It doesn't get any better than that. Well, listen, folks,
(13:22):
I don't want you dying to take advantage of that
one guarantee that they try to sell as a benefit
with annuities. I want you to be around for a while.
I want you to be able to grow your portfolio
so that that one hundred thousand is worth one hundred
and twenty five one hundred and fifty two hundred thousand dollars.
And then if there's a ten twenty percent correction, well
(13:43):
you got money in the bank. And believe me, when
it comes to investing, if you're paying a lot of
internal management fees, that eats away at the returns. Let's
make believe the S and P is up ten percent.
And if you look over the last hundred years on
the S and P year in, year out is up
about ten percent year in, year out. Funny thing, isn't it,
(14:08):
No matter what goes on with all the chaos and
craziness around the world, with all the geopolitical stuff, with
the wars, with you know, politics in general, and even
you know, if you look over the last fifteen years,
the S and P has been up thirteen percent year in,
(14:29):
year out. Funny thing, isn't it? With all you know,
with with the headlines nastac. I only bring up nansdakcause
it's in our portfolios. Nastak is up about eighteen percent
year in year out over the last fifteen years. And
for those of you that have bonds in your portfolio,
(14:50):
bonds help soften the volatility year in, year out, over
the last fifteen years, your average return is about two
point three two percent, So you got you know, two
point three percent for bonds, almost thirteen fourteen percent for
the SMP, which is really the broad stock market, and
you have almost eighteen percent for NaSTA qq Q. That's
(15:14):
your average return year in year out. But over the
last one hundred years, your average return in the SMP
has been about ten percent. Now, you know, as we
look this year, this year, we're you know, we started
off good and then you know, obviously, you know, the
last month or so hasn't been too good. So for
the week, the Russell two thousand, believe it or not,
(15:37):
is the big winner of the Russell two thousand was
up point sixty three percent point six three percent for
the week. Year to date, it's down almost eight percent.
S and P was up a whopping half a percent
half a percent for the week, but at least it
wasn't down be a three week losing street. You know,
(16:00):
the S and P hasn't been doing too good. Year
to date, the S and P is down about three
point six percent, almost four percent. QQQ, NANSDAK one hundred
compoundsit indecks up of wopping point two five percent year
to date. Down the QQQ is down six percent. The
(16:21):
Nansdak composite as a whole, that's the entire Nansdak is
down just about eight percent year to day, but QQQ
down six percent year to date. Those are the top
one hundred companies in Nansdak. So if you're investing in QQQ,
you're investing in the top one hundred companies down point
(16:42):
two five percent year to date. And listen, folks, we've
had a good run. I just gave that statistic, you know,
eighteen percent year in year out over the last fifteen years.
That includes uh, you know this this year year to date.
It also includes twenty twenty two when Nansdak was down
(17:03):
thirty two percent, and the only other time over the
last eleven years, including year to date, in twenty and
eighteen year Nasdak was down point one two percent point
one two percent. So over the last ten calendar years,
Nansdak was down two years of the last ten calendar
(17:26):
years point one two in twenty and eighteen, down thirty
two percent twenty twenty two, and your average return over
the last fifteen years. Believe it or not eighteen percent
year in year out over the last ten years, twelve
percent year in year Oh, I'm sorry. QQQ over the
(17:49):
last ten years seventeen percent year in year out, and
that includes it being down thirty two percent in twenty
twenty two. The SMP in twenty twenty two was down
eighteen percent. In twenty eighteen, the SMP was down four
and a half percent once again, just like QQQ over
(18:10):
the last ten calendar years, down only two out of
those ten calendar years. Over the last forty six years,
the SMP was down only twelve years out of the
last forty six calendar years. That means that the SMP
was up up thirty four out of the last forty
(18:33):
six calendar years. I guess the point I'm making is
the market is up more than it's down in the
average swing. You hear me give this statistic. I only
give it because I don't want you to have knee
jerk reactions. I don't want you to panic just because
the market's down fourteen percent high to low peak the
TRUP year in year out over the last forty six years,
(18:57):
your average average swing in the stock market is fourteen
percent year in, year out, so don't don't freak out
because the market's down a little bit. The S and
P is only down less than four percent year to date,
less than four percent. I'm optimistic. I think the market
(19:20):
will be higher at the end of the year. I
think there's a lot of things too to be happy about.
When you when when when when you look at everything
that's that's going on. You know, I know the buzzword
right now is tariffs. Tariffs, tariffs, tariffs. Yeah, there's no secret, folks,
(19:41):
this country, this president and his administration is putting in
some tariffs. Don't don't, don't, don't get nervous about that.
He's trying to balance out the trade that this sits
around the world. Listen, this great country of ours has
paid our fair sh share more than our fair share
(20:02):
for a long time. And I'm not talking politics. I
could care less if you're a Democrat or Republican. I'm
a blank So I'm not a Democrat, I'm not a Republican.
I'm just talking facts, folks, Just the facts. Give me
the folk facts, nothing but the facts. So this administration
intensified trade wars, increasing terrors, affecting global economic growth forecasts.
(20:26):
You know, the couple agencies around the world, including Pitch Ratings,
downgraded their growth expectations, basically citing these trade tensions, exploring
how you know these developments impact various investment sectors. You know, listen,
(20:47):
it's no secret the stock market knows that we are
putting terrors into effect. April second, I think, is the
big day. That's when some tariffs are going to go
into effects. So remember, the stock market doesn't like surprises.
There's no surprise. We know that there's terriffs. There's no
(21:07):
surprise whatsoever. So let's get over it. Okay, I'm more optimistic. Listen,
we're putting people to work. Corporate America's got some good earnings.
You got a lot of stocks that are on sale
right now. The stock market's on sale. The Magnificent seven
is really on sale. That's like going to that Macy's
(21:28):
one day sale where you know, you know, everything's on
sale in a good way, and if you wanted these
things in your portfolio, take advantage of it now. Listen.
Maybe this week, maybe they'll be on sale more. Maybe
two weeks from now they'll be deeper discounted. But listen,
you don't know, we don't have a crystal ball. So
(21:49):
when there's blood in the street, when people are looking
to sell because they're thinking with their heart, they're being emotional,
that's when you want to think logically and rationally with
your with information. You know that the stock market goes
up and down, up and down, up and down. So
when you see stocks on sale, go in and buy.
Don't be afraid over time. Listen, my personal portfolio is
(22:14):
there for clients to look at. My advisors know that
if any client or prospective client, because they hear me
on the radio, say hey, you can look at my portfolio.
I'm an open book. I'll show it to you. I'm
one hundred percent invested in the stock market, and I
you know, I'm invested just like my clients. I'm very
(22:34):
proud of that. There's a lot of wealth advisors. I
can't say that they don't tell you what they're invested in.
They you know, they just don't tell you. So I'm
an open book. I show my clients exactly what I'm
invested in. And I'm very, very very comfortable with that. Folks,
we're coming up to the bottom of the hour you
(22:55):
are listening to Let's Talk Money, brought to you by
Bouchet and Andrew group, where we help our clients prioritize
their health while we manage their wealth for life. I
love doing the radio show. I get energized. I love
helping the listening audience. And if I can help you,
give me a call. Any questions whatsoever, Give me a call.
(23:17):
One eight hundred Talk WGY one eight hundred eight two five, five, nine,
four nine, Any questions whatsoever, Give me a call. Let
me get your pointed in the right directions. One eight
hundred eight two five five nine, four nine. I'm gonna
take a quick break for the news. I'll see you
on the other side of the news break. It's a
(23:48):
little that funny, the spelingly side one. Those who cans
don't have much money, oil FA. I like this song, Zach,
(24:13):
That's a really good song. Good morning, folks. It's not
one of my skilled and talented colleagues, and believe me,
I have some amazing colleagues. I started out the show
by saying, Ryan did the show yesterday. He had really
a dynamic show, a lot of callers, good questions. Ryan
(24:35):
handles himself pretty well. And I have so many other
colleagues that do the radio week in week out, give
me a little break. I've been doing the radio. This
is my thirtieth year doing the radio. That's a long
time and I love it. When I tell you I
love doing the radio, I can't begin to tell you
how excited I get doing the radio. And it's just
(24:59):
it's just you know, to be with you, to answer
your questions, to get your pointed in the right direction,
to give you some things to think about, maybe calm
your nerves during volatile times like this. I'm telling you
I love being here with you, and it never gets
old for me. I just love it, love it, love it.
(25:21):
And if you have any questions one eight hundred eighty
two five five nine four nine. That's one eight hundred
eight two five fifty nine forty nine, any questions whatsoever,
give me a call, folks, let me get your pointed
in the right direction. And as I said, thank you
for hanging in through the news, and thank you for
tuning in on this Sunday morning. If you're not at church,
(25:44):
and I'm going to be going to church after I
do the show, if you're not a church and you're
taking time out to listen to to the show, I
can't thank you enough. It means a lot to me.
I think it's one of the reasons why we're always
viewed as one of the premiere investment shows on the airwaves.
(26:06):
And I think, you know, the colleagues that I'm surrounded by.
Charles Schwab puts US in the top three to five
percent of all wealth management firms around the country, top
three percent. You know what an honor that is, And
it's because the team that I'm surrounded by. My colleagues
(26:27):
they are they care about my clients like I care
about my clients. And one thing that I've been able
to help mentor and coach and teach my colleagues is
to set the culture that we had at Bouchet Financial Group,
and the culture is we care about our clients. Our
clients come first and foremost. I've been in business thirty
(26:49):
five years and I've been a fiduciary for thirty three years.
We don't sell investments, We do not push annuities, mutual funds,
not sell life insurance. We are truly a fiduciary. Being
a fiduciary means we put our clients' best interests first
and foremost. That's all that matters to us. That's all
(27:13):
that we care about. My colleagues, Listen, they are one.
I always say we're second to not second to No.
One eight hundred eighty two five five nine four nine.
If you didn't, if you didn't go to church, and
you're waiting because you want to listen to this great show.
(27:34):
In my mind, it's a great show. I'm a legend,
I guess in my own mind. Give me a call.
One eight hundred eighty two five four nine. I'm getting excited.
I'm going to Rome on Easter Sunday, I fly out
and I'm fortunate enough that there's a mass being Listen.
I had a rough year, you know that, and it's
(27:57):
it's it's I'm getting excited. I'm going to see the
Pope God willing on Tuesday after Easter. The Vatican is
saying a Mass for me. So to be able to
sit in the Vatican and have your name read out
will be just you know, it'll be you know, I
can't imagine anything that that that that will be better
(28:20):
than that. And the next day on Wednesday, I hope
to see the Pope. I'm supposed to have a private
meeting with the Pope. I just picked up his autobiography
this week. It's called Pope Francis Hope. It's an autobiography.
There's a couple of books on the Pope. This is
his autobiography. He wasn't going to release it till after
(28:42):
his death. He released it with the jubilee year that
they have going on in Rome and the Vatican, and
it's it's a good, good, good book, a really good book.
So hopefully that all works out. One eight hundred eighty
two five five nine, four nine. Let's go to the
phone line. We have Ann in Saratoga Springs. Good morning, Anne.
Speaker 2 (29:05):
Good morning Steve. I have a question about I have
several individual stocks and I'd like to sell some of
them and purchase either an index fund or an ETFs
in place for them. And yeah, thinking of the Meg
seven you mentioned that last week, I think, yeah, yeah,
(29:26):
So that's wondering if there are any other index funds
you might recommend.
Speaker 1 (29:30):
Yeah, yeah, So listen, the the first of all, if
you have individual stocks, now, if you have a play
account what I call a sandbox account, I have a
couple of them, and you know one of them, I
owe just the Magnificent seven, and I plan on doubling
up this week because they are on sale. And listen,
(29:52):
why would you buy something full price when you can
buy it on sale. But that's a play account. That's
money that could go up or down, and you have
to look at it as that. If this is for
your core portfolio and in the money that you need
to live on, remember that Magnificent seven is going to
(30:12):
be volatile. And there is one ETF that owns all
seven of those stocks Alphabet, Amazon, Apple, Facebook, Parent, Meta Platforms, Microsoft, Navidia, Tesla,
and it's Round Hill. Magnificent seven is the name of it,
NAGS is the symbol. So that's one ETF where you
(30:36):
can buy all seven of those stocks in one nice
little tiny package and own that. But if you just
really want an index to track the market, we use
the Schwab Broad Stock Market Index. It takes into account
the SMP, the sm P four hundred, and the SMP
(30:58):
six hundred, so that'd be large cap, mid cap, small cap,
and it's highly correlated to the s and P five hundred,
but you're getting a little bit more stocks. You're getting
some of that MidCap and you're also getting some of
the some of the small caps in there. And I
like that So if you just want an index that
(31:21):
really represents the stock market, I would say, do the
Broad Stock Market Index. And if you want a little sexiness,
a little sassiness in the portfolio, AM put in QQQ.
We own as much QQQ as we do the Broad
Stock Market Index. It's an index that I always say
in the office, until the day i'm mentally, you know,
(31:44):
incapable of managing money and working, or I'm no longer
with you, will always own QQQ. It's an index that
I believe in. I love the companies in it, about
sixty percent of its technology. So we call it our
growth indecks. So those are the two indexes I would
(32:04):
look at. But as I said, and if you do,
if you want to take a small part of your portfolio,
one knows magnificent seven that round hill, magnificent seven MAGS
is the way to do it. One tiny little package
that owns those stocks. And they're on sale. They're on
sale twenty percent or more. Tesla is on sale fifty
(32:28):
percent right now. Actually I might load up a little
bit extra on Tesla. He goes listen. Elon Musk is
a brilliant man. This guy, I don't know how he
gets done what he gets done. And you know, listen,
our country needs to cut the deficit and he's helping
(32:51):
the president do that. I'm excited about that. Another reason
why I'm optimistic. I started to say and on the
first half of the show, and that I'm out the
mystic and I am on the stock market because I
think the stock market's going to be higher at the
end of the year than where it is now. And
a lot of people are scared because of the tariffs.
(33:11):
You know, some people are just you know, political you know,
fanatics where you know, they just you know, they don't
want to see light at the end of the tunnel.
They're just die hard, you know. They don't like this man. Listen,
whether you like President Trump or not, you have to
look at the policies. That's that's what's going on now.
(33:33):
And I like the policies. And I always say, especially
to the Democrats that tell me, oh, how can you
you know, like this man's policy. This man's a narcissist,
this man's arrogant. Listen. I could care less about the man.
I care about his leadership qualities. Listen. Did you like
Bill Clinton having sex in the Oval office? Did you
(33:54):
like JFK having Marilyn Monroe stay on the White House
Presidential yacht. Listen, we got some great leaders that personally
they may do things that you don't agree with, but
it's their leadership qualities. And I think what's going on
in this great country of ours. I think there's more
reason to be optimistic at the end of the day.
(34:15):
And we're going to have a little pain. We're going
through a little pain right now. So I do think
that stocks are on sale right now. As I said,
the SMP year to date is down less than four percent,
NASDAC QQQ is down six percent, and they're on sale.
This is the time to add them into your portfolio.
(34:35):
So if you have some stock saying that you've been
maybe maybe they're dogs, Maybe you don't want to be
playing that game of investing in individual stocks. Now it's
a good time to shake it up. And thank you
for the call. Enjoy your Sunday. Thank you for listening.
One eight hundred eighty five five nine four nine. It
(34:56):
looks like it's Ladies' day. We're going to go back
to the phone lines. We have pay in Kinderhook. Hello, Peggy, hi,
and thank you for talking about Trump and Elon and
what's going on. I appreciate your opinion and and took
the sale right out of all my questions. But I
did want to know. I've got some CDs that are.
Speaker 2 (35:18):
Paying very little, I mean little in comparison what they were.
Speaker 1 (35:23):
What did you say about Schwab? What was that account?
So listen, we're fiduciaries our clients. So we managed one
point five billion dollars and our clients' accounts. We hold
them at Charles Schwab. We could hold them at Fidelity,
we could hold them at Vanguard, but I've been got
(35:46):
since I've been a fiduciary thirty thirty three years ago,
I've been using Charles Schwab. They're the biggest, the best.
Our clients know that their account is safe at Charles Schwab.
They don't have to worry about me being a burnie
made off and taking off with their money. So we
use Charles Schwab. Our clients can go into any Charles
(36:08):
Schwab office, they can call their eight hundred numbers, get
on their website. Their accounts are at Charles Schwab. They
give us permission to make investment decisions on their behalf
and at Charles Schwab the world. It's like an oyster.
We had anything that we could possibly want to choose
from everything from FDIC insured CDs to individual stocks and
(36:33):
everything in between. We could do alternative assets, we can
do options. Anything we want we can get at Charles Schwab.
So we use Charles Schwab. And for a long time,
Vanguard used to have lower internal management fees. I talked
a little bit about it on the first half of
the show, Peggy. In every investment, whether it be an ETF,
(36:56):
a mutual fund, an annuity, they all have internal management fees.
So our broad Stock Market Index, the internal management fee
embedded in that ETF is point zero three percent point
zero three percent. The average fee in mutual funds is
(37:17):
somewhere around one percent according to morning Star, and annuities, heck,
they could be three percent or more. So to put
it in perspective, if the S and P and I
started to talk about this, I never finished my thought.
If the S and P returns ten percent and you
have an annuity with an internal management fee of three
(37:39):
that means if that S and P returns ten you're
only getting seven percent because that internal management fee is
going to cut into the return of the S and P.
With a mutual fund, you're going to get nine because
the internal management fee on average is one percent, some
are more, some are less, and our broad stock market
(38:01):
index point zero three percent, So if the S and
P returns ten, you're going to get nine point seven percent. Now,
there was a time when Vanguard had less internal management
fees than Schwab, so I would use Vanguard. And I
never wanted people our clients to think that we because
(38:22):
we don't get anything from Charles Schwab. We are a fiduciary.
We have no incentives our clients there. Charles Schwab did
not pay me to have our accounts at Charles Schwab.
We get nada, nothing, zippity do da day, absolutely nothing.
We just used Charles Schwab, as I said, for peace
(38:43):
of mind, for our clients to know that they're at
probably the best platform in the country to have their investments.
And when the Schwab internal management fees were less than Vanguard,
that's when we started using some of the ets, not
because we're with swap, because if if at the end
(39:06):
of the day, I can get our clients good returns
and internal management fees are less, then that's more money
in my clients accounts. So that's really what it comes
down to. So, Peggy, you know, I'm glad you called me.
Can I help you with anything else? No, that's good.
But you did answer a lot to and that I
(39:27):
was going to ask, and I appreciate that. I appreciate
and asking. I feel like it's Ladies' day, you know.
I'm back at the studio fifty four, dancing the night away,
Peggy with you and Ann calling in. So thank you
for calling in, Thanks for listening. I can't thank you enough.
I hope you enjoy this Sunday. And Peggy, both of
(39:47):
you ladies for calling in. One eight hundred eight two
five five nine four nine. If you have any questions, folks,
give me a call. One eight hundred eighty two five
fifty nine nine. So I started to say before I
took the phone calls that I'm going to Rome on
Easter Sunday and I'm going to see the Pope, hopefully
(40:09):
God willing. I pray for the Pope every day. I
pray for a lot of people every day. You know,
I become more faithful over the last five years, and
especially over the last year you know, losing my wife,
you know, God ten months ago, you know, I've I've
become more faithful, So I'm not I'm not pounding the drum,
(40:31):
you know, you know, beating the drum because you know,
I've always i haven't been as faithful as I am now.
But I do have a friend in the Vatican that
was able to, you know, arrange some things for me.
And I'm excited with the year that I had to
be going there and you know, as I said, having
(40:54):
them say a prayer for me, the Vatican's going to
be pretty special, you know. It's it's it's something that
I'm looking forward to. And this autobiography. You know, Pope
Francis is a pretty dynamic guy. He cares about all people.
He could care less the color of your skin. He
(41:14):
could care less what God you believe, and he could
care less who you choose to love. He really could
care less about any of that. And it's it's it's refreshing.
So I hope he gets better and I hope he's
back at work. You know. Friday was was International down
(41:38):
Syndrome Day. I put on social media Twitter, Instagram, and
Facebook a picture of my brother. I have a brother
with Down syndrome, and he's kind of like the Pope.
You know, I kind of said, listen, my brother is
is one of a kind. He has a smile that
(41:59):
is just just infectious, just and infectious. So, you know,
March twenty first is World Down Syndrome Awareness Day, you know,
basically at time to raise awareness, challenge misconceptions, you know,
more importantly, celebrate the incredible contributions and spirit of those
(42:24):
living with Down syndrome. For me, it's personal, you know,
I shared with the listening audience through the years. I
had two brothers. You know, my mom died at thirty
one and my dad at forty nine, so I've been
guardian for both my brothers. I had two brothers with
special needs. One passed away a few years ago, my
brother Danny, and my brother Brian's still with us Down syndrome.
(42:48):
And he, you know, he's special, folks. Anyone who has
met him knows him, knows the joy that he brings.
You know, he can walk into a room and you
just look at his infectious smile, his unconditional love, that
smile is on his face all the time. His desire
to be everyone's friend. You know, it reminds me, Delia,
(43:12):
what truly matters in life. And you know, Brian has
taught me more than I can ever teach him, especially
the importance of kindness and not judging others. I don't
judge anybody. I judge people for who they are, for
the people that they strive to be. And that's how
(43:35):
I look at people. We're all different in our own ways,
folks were you are all different, and that's exactly what
makes the world richer. My brother Brian, he's a constant
reminder to lead with compassion, understanding and love. So you know,
I celebrated Brian and all those like him who make
(43:58):
the world a better place just by being themselves. You know,
my brother Brian, he wants to be in the community.
He wants to be your neighbor. He wants to ride
the bus with you. He wants to, you know, go
and have a Ben and Jerry's ice cream. You know,
he's got that that that smile on his face. You
(44:18):
can go to my Facebook page and see his his picture,
or go to my Instagram page or my Twitter page
and see his his his his picture. He's just a beautiful,
beautiful soul. He can teach us a lot. If we
were all like Brian, the world would be a better place.
That's for that's for sure. Eight two, five, five, nine
(44:44):
four nine. Give me a call if you have any questions.
As they said, the markets were down a smidgeon this week,
less than I'm sorry. The markets were up this week,
a smidgeon, you know, just a smidgeon, you know, key
Qq up point five percent, the S and P up
point five to one percent. Russell two thousand up zero
(45:06):
point sixty three percent. Energy was the winner this week,
up just over three percent. This week, we had, you know,
the the as I said, because of the terroriffs and
there's some agencies cutting the growth forecast because of what
trade policies President Trump is putting in place. Listen, short
(45:31):
term pain for long term gain. I believe that, I
really really believe that the biggest victims will be Canada
and Mexico. You have Israel, the air strikes pounding Gaza,
shattered the cease fire. Listen, that's not a nice place, Hamas, hamas,
(45:54):
however you want to pronounce it. They started this war
with Israel, folks. Israel's not being a bully. They started
this war. What they did on October seventh a year
ago was inhumane terror, terrorism at it's worst. And Israel
has a right to defend itself. Whatever you think. They
(46:15):
have a right to defend itself. And they want to
wipe Hamas right off the face of the earth, and
you can't blame them. So we had that going on.
Oil and gold were up, Gold inter day highs again,
gold is really on a tear. Retail spending missed expectations.
(46:37):
Stocks were up a little bit on Monday, then fell
on Tuesday. Led my text texts were down. The Federal
Reserve held rate steady on Wednesday. No surprise, I told
you last week. I thought that the Fed Reserve was
going to hold rate steady. Fed Chair Jerome Powell did
(46:59):
come out. Hey, he thinks there may be two more
cuts this year. That's beautiful news, more reason to be
optimistic for the stock market. Friday, you had big options, expirations,
triple witching hour, or whatever you want to call it.
So you had a lot going on this week, and
as they said, the markets were up just a little bit.
(47:22):
Just this mentioned. Folks, we're coming up to the end
of the show you're listening to. Let's Talk Money, brought
to you by Bouchet Financial Group where we help our
clients prioritize their health while we manage their wealth for life.
Go to our website Bouche dot com. That's b as
in boy ohuch e y dot com. A lot of
(47:43):
good information. I think this week we're going to put
up our state of the economy. It was pretty dynamic.
We had almost four hundred clients attend over a week
ago and it's something special we do for our clients. Folks,
have a great Sunday, enjoy the week. I'll see you
next weekend. Bye bye.
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