Let's Talk Money

July 25th, 2026.

Episode Transcript

Speaker 1 (00:02):
Good morning, folks. It's July twenty fifth, and I have
some amazing colleagues. Paulo and Marty helped with the last
weekend and so many other colleagues. But today you're with me,
Stephen Bouchet. I am here live with you. I would
love to talk with you. Anything you have on your

(00:23):
mind regarding money or anything else you have on your mind.
Give me a call. I'll do my best to carry
on the conversation. But in all seriousness, you get one
opportunity to retire, folks. I want to make sure that
you have best all of those dreams. We work decades, decades,

(00:45):
we work, working our tail off, work, work, work, work, work, decades,
and then you retire, and sometimes some people have a
few decades of retirement living, some not. The key is
to make sure you're prepared so that you can have

(01:05):
the best, best quality of life that you always wanted
during retirement. And you can't mess up, folks. You can't
go back and make up for lost time. You just can't.
So that's why I really drive home the point that
if you're not saving ten to fifteen percent of your
paycheck weekend week out, and I promise you if you haven't.

(01:29):
In Monday morning, you go in and you tell the
business office that you want to increase your deductions into
your pension plan ten twelve, fifteen percent. I promise you.
I promise you. The next paycheck you get you won't
like me. And that's okay, I'm good with that. In

(01:49):
the paycheck after that, you're going to probably swear under
your breath at me. And the paycheck after that, you're
gonna have a little less money, not much as you
would think, because you're not taxed on that money when
it goes into a pension plan. So if you put
one hundred dollars in, maybe it's like losing sixty five

(02:13):
dollars because Uncle Sam helps subsidize it. But the point
I'm making is after a year, five years, ten years,
you'll think back and you'll say, you know, I thought
Steve was crazy when he told me to put ten
to fifteen percent of my paycheck in to my retirement plan.

(02:33):
But holy god, I got ten thousand dollars, twenty five
thousand dollars, fifty thousand dollars, one hundred thousand dollars. And
that's what's going to happen. And now you take retirement serious. Hey,
I always wanted to retire at sixty or sixty five
or seventy years old at least, now you have an

(02:55):
opportunity to do that. Remember, when you retire, everybody gets
Social Security. The average Social Security check that you get
is about twenty five thousand dollars annually. So if you're married,
you have a spouse, maybe fifty thousand dollars between both

(03:18):
of you on average. That's on average, and that's if
you take it at the full retirement age. If you
take it, for instance, at age sixty two, because you
can start to take it, you're going to get about
a thirty percent reduction. So you know, now the two
thousand dollars a month drops down to about seventeen hundred

(03:39):
dollars a month. You get about seven hundred and fifty
dollars less every month, about nine thousand dollars less every year.
So you need to really think about when that takes
Social Security. But more than that, if let's make believe
you're married, Let's make believe you and your spouse get
on average fifty thousand dollars. If you need seventy five

(04:02):
thousand or one hundred thousand to live on, where's that
money come from It doesn't come from the air. You
can't just reach up and grt what you're short. Some
people borrow money, take money out of their home equity.
We don't want you to do that. We want you
to have a retirement savings plan with money in it

(04:26):
that you can start drong on it. For all those
decades that you work, Folks, that you're putting money into
that retirement plan, now it's time for you to take
money out. That's the key to being able to retire.
That's the secret sauce, folks, that's the recipe. You need

(04:48):
to be prepared. So ten to fifteen percent if you
haven't done any financial planning, ten to fifteen percent. If
you're younger, maybe not as m because you have so
much time on your side. If you're a little more mature,
if you're well into your forties fifties and you haven't

(05:10):
really prepared, you probably need to save a whole lot
of money. So that's the point that I'm going to
make today. Make sure you're saving money into a retirement plan,
especially if your company matches that money, and most companies do.
If your company matches that money, then make sure you

(05:33):
are saving money into a retirement plan, because that's free money. Folks.
If the boss is willing to give you a percentage
of your match of what you put in, take that
that's free. That's yours free money. The boss doesn't hand
out free money often. Usually they want you to earn it.

(05:56):
Work hard. So when they're giving you a little centive
in your retirement plan, take advantage of it. One eight
hundred talk WGY one eight hundred eight two five five
nine four nine. If you have any questions, any questions
whatsoever for me, folks, give me a call. I would

(06:17):
love to talk to you about your financial future, your investment.
How are you investing your money now? Or you've invested
in annuities, mutual funds ETFs, so you're trying to buy
individual stocks. Give me a call. Let me help get
your pointed in the right direction. Any questions whatsoever. One

(06:41):
eight hundred eight two five fifty nine forty nine. So
last week was an emotional week for me. I know
that I was planning on doing this show and last
minute I decided not to. Marty and Polo Pollo did
the show on Saturday. Marty the show on Sunday. They

(07:01):
did a great job. They always do a great job.
And basically in a nutshell, I've been sharing with you
how the past couple years have been real rough on
myself personally and all of my colleagues, you know, with
me going through my treatments and losing my wife's sue

(07:22):
halfway through it, and then our colleague Nicole, we lost
her a year almost a year after. So it's been
a rough couple of years. But I was in New
York City for some tests, some really detailed tests, and
I got the all clear signal. Folks, I always say,
when you get cancer, you're part of the C club.

(07:45):
And cancer does not discriminate. It doesn't care. It does
not give a dawn about how you dress to go
to work. Maybe you dress and T shirt and jeans,
or maybe you wear a suit. It doesn't care. It
doesn't matter what you drive the work or if you
take a bus. It doesn't matter who you care to love,

(08:07):
or the color of your skin, or what church you
go to pray. It doesn't care. Cancer doesn't care. It
doesn't care. It does not discriminate. So I got the
all clear signal and it was an emotional day. After

(08:29):
two and a half years, it was an emotional day,
and I thought I was going to do the show
last week and share it with you, but I just couldn't.
I needed to take time for me, and I took
time for myself. And I appreciate Pollo and Marty doing
this show last minute and it kind of gave me

(08:49):
time to put everything in the perspective. And I have
a new lease on life, folks, I have a new
lease on life. And as I like to say, the office.
You know, Warren Buffett was ninety four before he retired.
It took him ten years to figure out who would succeed.

(09:10):
Maria Kabelli is still working well into his eighties, and
we can go on and on and on. You know,
I'm feeling really good mentally and physically. I'm taking care
of myself and I'm feeling really good. So I like
to joke around in the office. Hey, guys and gals,
I don't have to retire. I may slow down a

(09:32):
little bit. And I'm fortunate because I do have twenty
two colleagues. I have Marty, John and Ryan are on
my leadership team and partners. And I'm in a good place.
I am truly in a good place. Our firm is
set up for the long term. We are going to

(09:53):
be around for a long time. I had a meeting
with dear clients this past week and they have a
son that they want to make sure and they said,
will you be around to help your son? I said,
I may not be around, but somebody. We have really
a solid team and a team that is younger, more

(10:16):
young than not. And I'll put any one of my
colleagues up against anybody with experience in the industry. We
are second to none. We do a great job. I
think one of the reasons why Charles Schwab does a
survey of fourteen hundred wealth management firms throughout the country
and we are always in the top five percent. And

(10:39):
it's the investment that we make in our human capital,
building out our team colleagues that are second to none.
They're smart, they're ethical, they have values, they care about
our clients. I couldn't mentor my team any better than
I have. They truly have all of the qualities that

(11:00):
I have and that I would hope for my colleagues
to have. Not only do we get along in work,
we get along outside of work. We do a lot
of things together. So I appreciate Paulu and Marty helping
me out last week and as I said, having a
new lease on life, and this week alone because I

(11:21):
shared it on my social media post, I kind of
I'm an open book. I always my mission in life
now is to help as many people as I can.
And this week alone, I four different people come to me,
one that I knew, three that I did not, that
were going through different things in their life, some mental health,

(11:41):
some with you know. One friend that I have was
actually in Memorial Sloan kettering the same day I was,
and I never knew it. I never knew it, and
I've been reaching out to him every day trying to
keep his spirits up. So it brings me joy to
do that. And I know, long window, I know you

(12:04):
did not tune in to hear about me and my
life right now, but I just wanted to share that
with you, and just thank each and every one of
you for tuning in every week, for being there, for
asking me how I'm doing. I can't believe how many
strangers come up to me and say, hey, I know
you're the guy on the radio, and they'll ask me

(12:26):
how I'm doing. And I truly appreciate that folks eight
eight two, five nine four nine. So this week technology
boy talk about a speed bump. Technology is taking it
on the chin, and that's okay. Oil prices are high

(12:46):
because the tension is still in the Middle East, which
may get worse. Investors are wondering if the Federal Reserve
could actually raise rates again. Right now, there's a ninety
percent chance the Fed may raise rates before the end
of the year. We have millions of Americans asking the
same question, when should I take social Security? Today we're

(13:07):
going to talk about all of that and anything you
want to talk about. I'm going to take a quick
fifteen second break. One eight hundred eighty two five five
nine four nine. I'm back, folks, Thank you for letting
me take that break. I just had to wet my whistle. So,
as I said, you know, there's there's a lot going
on in the market saying, believe it or not, the

(13:29):
Middle East, and it's only logical that the tensions in
the Middle East affect the markets. When when, when, not if?
When will the war be over? When that happens, I
think the market is in good shape to take off.
Believe me, we have a resilient economy, folks, we have,
you know, we're putting people to work. Corporate America. We

(13:54):
have one hundred and thirty out of the five hundred
companies in the S and P, five hundred have reported
already for or second quarter earnings and you know, again
out performing what the projections were. And they're just making money.
I mean, they're making money left and right. So we have,

(14:18):
you know, the economy is resilient. We have a new
FED Reserve Chair, Kevin Walsh, who has his quote not mine,
no tolerance for inflation. So I think Kevin's going to
be a breath of fresh air for the Fed. It'll
be interesting to see when they meet on Wednesday what

(14:39):
direction they'll go in. I said a few weeks ago
that I think it would not surprise me if we
go the entire year with no hikes with interest rates.
Because every month there's different reports. And ironically, the Fed
meets Tuesday and Wednesday, and they'll report on Wednesday and
then Thursday. Their favorite reading on the inflation comes out

(15:02):
Thursday morning, the day after they announced it. You know,
it's too bad it wasn't the day before. But the
personal consumption Expenditure price Index or June economists, right, now
forecasts a three point seven percent year over year increase,
about four tenths of a percentage point less than in May.

(15:23):
The core PCE expected to rise about three point three
compared to three point four in May. The FED will
be watching that, but as I said, it comes out
a day after they meet, so to be interesting to
see what the Fed does. I will not be surprised
if there's no hikes. I don't think we will get
another cut this year. It'll be quite some time probably

(15:45):
before we get another cut. But hey, nobody knows. Nobody knows.
Believe me, even the FED won't know until there's eighteen
Fed governors. Only twelve of them vote, So we'll see
what they come out with this this week. A lot
of money lost in AI stocks, artificial intelligence, the darlings

(16:09):
of the market. You know, five of the magnificent seven
make up twenty five percent of the S and P
five hundred index. You heard me right, Twenty five percent
of the SMP five hundred index is made up of
you know, Navidia, Apple, Microsoft, Amazon, Google, Uh, you know

(16:33):
twenty five percent of the market. Is is that the
top ten holdings make up almost thirty eight percent, which
is Facebook, Tesla, which is taking it on the chin,
Micron Technology, Eli, Lillian Company. Those are the top ten holdings.
But those five darlings of the of the Magnificent seven Navidia, Apple, Microsoft, Amazon,

(16:59):
and Alphabet which is Google, make up about twenty five
percent of the market and they've been taking it on
the chin. I mean, this week was another ugly week
in technology. Doesn't concern me. No, we are overweight technology.
We've been overweight technology for a long, long, very long time.

(17:22):
And as I like to say in the office, as
long as I'm alive and well, as long as I'm
mentally confident and walking the halls of my office, we
will always be overweight technology. I don't care. You heard
me say that. I don't care. When there's volatility. It

(17:43):
does not bother me, and it doesn't bother our clients.
We've educated our clients, We taught our clients. Our advisors
are our top notch when it comes to helping educate
and coach our clients through times of volatility. So our
clients don't get nervous. They don't, I can actually say

(18:05):
they don't. So I don't care when there's volatility, it
does not bother me, and It shouldn't bother you. If
you're a good discipline investor, volatility should not get to you.
You should not be making rash decisions because of volatility.
Let it go, folks, get it out of your mind.

(18:28):
Take a walk, go to the track, go up to
Lake George. Do something other than worry about the stock market.
I guarantee you, I guarantee you. The stock market goes
up and down, up and down, up and down, up
and down, up and down you go through time, the

(18:48):
stock market goes up and down all the time. Over
the last ninety years, the average return in stocks is
ten to twelve percent a year, with a lot of volatility.
So volatility comes with being invested in the stock market.

(19:12):
Volatility also comes with being invested in something like bonds.
Believe it or not, Volatility is part of everything. And
it's funny. If you look at the SMP year to date,
the SMP is up about eight point three percent, with
dividends close to nine percent. The bond index is measured

(19:35):
by the I Shares Core US Aggregate Bond ETF. I
call it the sm P lookalike for bonds piece. It's
really the bond indecks. What we refer to as the
bond indecks down to half a percent year to date,
down half a percent year to date and over the
last let's include year to date being the eleventh year.

(19:58):
Over the last eleven years, the bond indecks was down
in twenty twenty one, the bond index was down in
twenty twenty two, and it's down year two date. The
s and P. Guess what if you look over the
last eleven years, including obviously this one, since P was

(20:21):
down in twenty twenty two and the SMP was down
in twenty eighteen two years as well. So there you
have it. The bond indecks is down as often as
the stock market indecks, ironically more so because year to
date the bond indecks is down whereas the stock market

(20:43):
is up. So every asset class has volatility, real estate commodities,
that goal you have, Every every asset class has volatility.
On the other side of the news break, we'll talk
about that. Folks, you are listening to Let's Talk Money,
brought to you by Bouchet fin Answer Group, where we
help our clients prioritize their health while we manage their

(21:06):
wealth for life. If you have any questions, any questions whatsoever.
Give us a call. Katie, my producer and I are here.
We would love to talk to you. One eight hundred
eight two five five nine four nine. Any questions whatsoever, folks.
Katie is really she's an amazing producer. She will put

(21:28):
you online and I will pick you up and we
will get to your answers. Hopefully I'll be able to
answer your questions, any questions whatsoever. One eight hundred eight
two five fifty nine forty nine. I'll see you on
the other side of the news break. I kind of
like the jazz music, Katie that you play. Thank you

(21:48):
for that, folks. Thank you for hanging in through the news.
Thank you for tuning in today. Thank you for tuning
in every weekend, every Saturday at ten, Sunday mornings at eight. Yes,
you're stuck with me again. Tomorrow. I will be back
right and early, so set the timer for the coffee machine,
have that cup of Joe ready to go for eight
o'clock and you and I can spend the morning together.

(22:13):
What beautiful weather we're having, right, you know, always say
when you know, I know there's listeners all throughout the country. Actually,
we actually have listeners overseas too, because if you have
the world Wide Web, you can listen to this show
on iHeartRadio app. And if you by chance miss our show,

(22:34):
you can go to our website. Yes, we have a website,
Bouchet dot com, and you can We have all of
our shows and so much more on our website. Just
go to our website and right at the top in
the gold bar, you'll see Women in Wealth August twenty fifth.

(22:54):
I'm proud to say you can reserve your seat there.
It's going to be at Dine Dynamic Day, an amazing day.
Harmony Wagner and Samantha Macy. You know, I call them
my rock stars. They've been really leading the charge. Women

(23:14):
and Wealth has been important to me for decades, and
they are really doing a great job. We put on
a couple seminars a year revolving around women and wealth,
and we partnered up with the Share of Fun. This
August twenty fifth, an all day, all day, different different

(23:39):
topics and sessions, all revolving around women and wealth. Harmony
and Sam are going to be part of it, along
with so many other experts that they Palette has brought together.
It'll be a really great day if you want to,
you know, just really get some good information. You want

(24:01):
to sign up for that. We we we are excited
about it. It's at the United Preservation Hall. If you've
never been there, it's absolutely beautiful. This this old church
in downtown Saratoga, kind of behind where Starbucks is. To
give you an idea. And believe me, folks, if you

(24:24):
if you're interested in in your financial future and you
want to take part of the Women in Wealth All
Day Seminar, come on take part of it. And also
our special guest is going to be Sherry about she
won with Golden Tempo in the Derby and the Belmont Steaks,
the first female trainer to win the Derby, and I

(24:48):
am so excited to have her. She's really not only
is she an amazing trainer, she's just a good person.
Eight two, five, five, nine, four nine one, eight hundred
eighty two five fifty nine forty nine. Any questions whatsoever, folks,
give me a call. So the SMP and NASDAC back

(25:10):
to back weekly losses. SMP fell about six ten seven percent,
NASDAK dropped about two point one percent. QQQ and for
our clients QQQM. We we in our qualified accounts where
there's no tax consequences. We sold out of QQQ, bought

(25:31):
qqqm hy it measures the same Nasdaq one hundred composite
index and it's got lower internal management fee. So why
not save our client's money when we can without any
tax consequences. My traders man, whether it be Ed or Casey,

(25:54):
they are like, we make trades two three hundred million
dollars at a time and without any glitches. You heard
me say in the first half of the show. We
invest in technology and human capital, and the investment in
both is why I think our boutique wealth management firm

(26:16):
is so well thought of around. We have clients in
thirty four states and overseas. We really we take care
of our clients. Our clients are just amazing. So QQQ
down one point sixty two percent, the entire man's that
can posite down two point one three percent. And I know,

(26:38):
you know, I don't talk about the Dow because the
Dow is just thirty companies. It's a popular index, but
it's not. It's not an index I like to quote.
But just to give you an idea, that Dow is
down for ten percent this week, the third straight losing week.
AI spending is exploding, and investors aren't sure whether to

(27:01):
cheer or run. This is really a big part of
what's going on. So you have companies reporting good earnings
but planning to spend more on AI. And I get it, folks.
We use AI in our front and it's it's amazing
how much more productive AI can help in the right way.

(27:24):
And we have embraced artificial intelligence. It is. If you
haven't played with it, play with it. Listen. This isn't
the AOL of the nineties. AI is really I think
it's here to stay. Polo in my office put it
perfectly because I did not understand it a couple of

(27:45):
years ago, he says. Steve, think of it this way.
When you put something into Google, you may get ten links,
and then it's up to you to go and click
on this link, that link you get the picture. That's
what Google's about AI. When you put something in AI,
it automatically summarizes those ten links and gives you just

(28:06):
the facts, man, as Detective Friday said, just the facts, man,
just the facts, and that's what AI is. And Paulo
really held me understand AI in no time, just with
explaining it that way, so AI, A lot of people
are fearful of it. A lot of investors wonder just

(28:28):
how much can Corporate America invest in AI. I think
Corporate America can continue to invest in AI. It's not
going anywhere. It's it's the dominant theme. The Magnificent Seven
lost about just about eight hundred billion dollars in a
single session on July twenty third, the biggest single day

(28:52):
drop since April of twenty twenty five. The Magnificent Seven
now down about eleven percent, probably erasing almost two trillion
dollars from their late May peak on the trigger alphabet,
which is Google Tesla, which has really taking it on
the chin. And for all of you investors that wanted

(29:14):
to buy at the SpaceX Apple, believe me, you can
get in now for a whole lot less than when
it came out. If you were disappointed that you're broker,
and believe it or not, we had clients that wanted
in on SpaceX and they couldn't get in on the IPO.
I mean it came out, it shot up to over

(29:35):
two hundred dollars, and today as we sit here, folks,
you can buy SpaceX for one hundred and fifteen dollars.
You heard me right, one hundred and fifteen dollars. So
if you felt bad that you couldn't get in at
the IPO price, and then watch it go up a
few hours later, guess what, you're buying it at a
discount about forty percent less than where you could have

(29:59):
gotten in if you were one of the privileged to
buy the IPO, which very few investors were. The same
went with Meta, I'll never forget Facebook. When Facebook came
out as an IPO and we had clients left and right, Oh,
I want in, I want in, I want in, I

(30:19):
don't know. We got Charles Schwab allocated. Let's just to
make numbers simple, one thousand shares of the IPO. You
should have seen me trying to divvy up for the
clients that wanted it. And then and and Ed called
SpaceX right on the money. He was on the radio.
He said, listen, don't buy SpaceX. Give it time. You'll

(30:42):
be able to get it at a lower price. And
he was right on. You can get it a whole
lot less today than you could then. So I only
bring up SpaceX because obviously Elon Musk has the SpaceX.
You get it Alphabet, Google's parent company reported revenue of

(31:02):
just about one hundred and twenty billion dollars, beating expectations.
Expectations was about one hundred and seventeen billion, so beat
it by a couple billion, and search revenue jumped about
seventeen percent, Cloud revenue up about eighty two percent, capping
out at about twenty five billion dollars. But the inevitable

(31:23):
butt investors were spooked when the company raised its capital
expenditure estimate to two hundred and five billion. Are you
sitting down, I'm gonna say that again, two hundred and
five billion, up from a prior ceiling of one hundred
and ninety five billion. And guess what. The stock dropped

(31:44):
seven percent this week Tesla ah Man In a single day,
Tesla lost fourteen to fifteen percent of its of its value.
Intel was the one of the few brights until I
actually was up this week three point six percent after
better than expected second quarter results and good guidance. Believe

(32:09):
it or not, folks, it's one thing for the earnings
to come out, it's another for the guidance. What do
the companies feel will happen over the next three, six,
nine months that's really what investors look for. So there
you have it, folks. That's the update on artificial intelligence.

(32:30):
I love artificial intelligence in one of my sandbox accounts. Listen,
I like playing in the sand And you know, we
had a client that nicknamed his play account sandbox account.
We stole that name from him. So we have clients,
including myself, because I'm invested just like my clients are.

(32:50):
Except for my sandbox accounts. I have some Sandbox accounts
and one of them is just the Magnificent Seven, and
I believe in those companies. And as I said earlier,
volatility does not scare me. I don't care about volatility.
If anything, I go to look to see if there's
any money in a cookie jar that I can go

(33:11):
and buy more stocks during times of volatility. You're never
gonna get it right, you will never ever. Ever. You
may get lucky, you may sell at the high point,
you may buy in at the low point, but very
few people get lucky. And if you do get lucky,
what are the chances that you'll be lucky twice? Selling high,

(33:32):
buying low? What are the chances minimum minimum? So I
don't care about volatility. You shouldn't care about volatility either.
It comes with the territory of investing. You just need
to understand that I keep giving this statistic over the
last fifteen years, year in, year out, the average return

(33:55):
in the S and P five hundred index fourteen percent
a year, year in, year out. You think of some
of the horrific headlines that we've gone through over the
last fifteen years, and yes, your average return year in
year out fourteen percent NASDAC and I only bring up Nansdak.

(34:16):
These our clients are invested as much in NASDAK as
they are in the broad stock market up twenty one percent,
just about year in, year out, nineteen percent, nineteen percent
year in year out. Over the last fifteen years, year in,
year out, NANSDAK is up about nineteen percent compared to

(34:39):
fourteen percent for the broad stock market index. And for
investors that want to soften the volatility and invest in bonds,
your average return over the same fifteen year period. Think
of all the bad news, all the emotions, especially this
year going the war with Iran. Think of it all, folks.

(35:03):
Put it in perspective. Your average return in bonds you're
in year out two percent, two percent compared to fourteen
percent for the broad stock market index, nineteen percent for Nasdaq.
There you have it. This is why, this is why
we tell clients all the time, have a well diversified

(35:24):
portfolios and do not do not be afraid of stocks
in your portfolio. Do not. I don't care how young
or old you are. Overtime stocks is really they've been
the best performing asset. And I know gold has had
a lot of publicity lately. I mean, gold last year
had a great year. Y're today, believe it or not,

(35:46):
gold is down six percent. We're sitting just under forty
one hundred dollars an ounce. The high was fifty three
hundred dollars announce over the last year, so it's come
down a long way. But for you gold bugs wondering
how gold did over the last fifteen years, year in
year out, your average return with gold is less than

(36:07):
six percent, less than six percent. So are stocks that
scary when you put it in perspective? Fourteen percent year
in year out with all the volatility. And you've heard
me give this statistic out often, and I do it
so that you don't get freaked out and sell out
of your investments when you get volatility over the last

(36:29):
forty plus years, the average high to low Peka trough
swing in the stock market is fourteen percent a year
fourteen percent one four high to low Peka trough fourteen
percent a year. So volatility comes with investing, and volatility
comes in all asset classes. Stocks, bonds, gold, real estate.

(36:55):
Stocks are as volatile as every other said class. You
have to look at the volatility. Unfortunately, stocks get the
most publicity, so people always think stocks are risky to
invest in. To me, fourteen percent a year over the
last fifteen years compared to two for bonds or less

(37:16):
than six for gold. You know what, I'll take that
volatility all day long. These are clients. Any money they
need over the next twelve to twenty four months is
sitting on the sidelines in a conservative manner, so they
don't have to worry when volatility hits, when that next

(37:36):
correction comes, that next bear market, or worse yet, a
recession where people think the world's coming to an end.
The world hasn't come to an end yet, and it
won't over the next correction or bear market. It won't
come to an end. You just think it's coming to
an end, and you kick yourself in the rear end

(37:56):
for owning stocks. But if you hang on and be patient,
guess what stocks always do. They always go on to
make new all time highs. After every correction, after every
bear market, stocks go on to make new all time highs.
Isn't that crazy? The key is not the panic. One

(38:18):
eight hundred eighty two five five nine four nine. One
eight hundred eighty two five fifty nine forty nine. You know, folks,
I say, people listen to the show all over. I
got a dear client who has turned into a dear
friend listening in Florida, the great state of Florida. And Larry,

(38:38):
I appreciate you tuning in and thank you. Yes, I'm
in a good place, Larry. I am in a very
good place, feeling good physically and mentally, and hope to
see us soon. One eight hundred eighty two five five
nine four nine. If you have any questions, give me
a call. Let me get your pointed in the right direction.

(38:59):
So you have oil, you know, hit one hundred dollars
a barrel again, and as we sit here, oil is
about eighty nine dollars a barrel. Oil plays into everything, folks.
Oil listen. We all have to get to work somehow someway.

(39:23):
Whether you drive your own car or take a bus,
oil comes into play. Whether you have door dash, deliver
your your your your cheesecake from your favorite restaurant, or
the pizza delivery guy bringing your dinner with your favorite pie,
gas comes into play. The price of gas is one

(39:47):
of the things that creates inflation because we can't get
away from oil. So when oil goes up to one
hundred dollars and Iran is back in the headlines, and
yes it is in the headlines, I said on the
first half of the show. It's not if the war
will end, it's when the war will end, and it

(40:07):
can't come soon and not listen. Iran's a bad, bad, bad,
bad bad country led by worse, worse people in the world,
thugs that have no regard for human beings in any

(40:28):
way having I'm all for this war in Iran. I'm
not for the tragedies. I'm not for our service men
and women who we are losing or getting hurt. I'm
not for the innocent people of Iran who are being
affected by this. And believe me, folks, over fifty thousand

(40:51):
Iranians have been killed by their own regime. This war
can't come to an end fast enough. It can't. And
you know what should we be in this war? You
can make up your own mind as far as I'm concerned.
When when this war is over and the world is

(41:13):
in a safer place because Iran has been neutralized, we
will all sleep better at night. There you have it.
I'm not for any war, I'm not for any any
of that. But I am for getting rid of a
regime that has created havoc and just no regard for

(41:35):
any human being life, including their own Iranian people. And
I have a friend who's from Iran and she has
taught me a lot. And the people of Iran they're
scared to death. They can't rise up and take over
this regime because they will be just just you know,
killed on the spot. So the people of Iran, from

(41:59):
what my friend tells me, are really anxious for this
war to come to an end as well with a
new regime. So when this war is over, you will see,
you will see. I think the stock market should perform
in a good way. It should rally. There will be

(42:22):
good times in the stock market, I believe when the
war is over. So oil hit one hundred dollars. I
ran back in the headlines. You know, the highest price
of oil over a month? You have you know that

(42:42):
that straight of or just the ships not being able
to get through. How nice will it be when listen,
when we all get along the world's in a better place?
How nice will it be when that happens? And that

(43:04):
day will come? I'm sure that day will come this
coming week. What do we have to look forward to?
You have Microsoft, Meta, Wich, Is, Facebook, Apple? All report
their second quarter earnings. On the Federal Reserve Policy meeting
Tuesday and Wednesday. What will happen? What will Kevin w Wash,
the Fed Reserve chair? Do I think interest rates will

(43:29):
stay as they are? And as I said, I wouldn't
be surprised if we don't get any hikes before the
end of the year. Although you know, you can bet
on the future of interest rates, and right now the
bet is a ninety percent probability that there will be
before the end of the year. So I could be wrong.

(43:51):
I could be wrong. But every report that comes out
on the economy and with inflation, especially with the Fed's
favorite cpe PCE report coming out on Thursday, the day
after they get done meeting, It'll be interesting to see
how that report ties in with the speech that Kevin

(44:12):
worsh will will give on Wednesday afternoon. You know the
mag seven, you know, down two trillion dollars, it's peak
in May. Is it a buying opportunity? Folks? Is it,
you know, time to get in if you haven't invested
in the METS seven? Or are we in the early

(44:32):
innings maybe of an AI bubble. I don't know, but
I do know. I think I know that AI is
here to stay. I think AI is as I said
on the first half of the show, it's not the
AOL of the nineties. AI is truly here. I think
for the long term, people will be using AI for

(44:56):
a really long time. I know we have embraced in
our firm. We use AI. It's helped us in many ways.
I remember I shared with you a year ago. I
brought all my people together because there's so many people
that think that their jobs are in jeopardy because AI
is just so so powerful. And I brought all my people,

(45:21):
twenty two colleagues together, and I told them, listen, none
of your jobs are in jeopardy. We will embrace AI
to help us be better, to help us manage our
clients' wealth in a better way, manage the relationships in
a better way. AI will help us. I can't believe

(45:41):
we're coming up to the end of the show. You
are listening to Let's Talk Money, brought to you by
Bouchef and and your Group, where we help our clients
prioritize their health while we manage their wealth for life. Folks,
go to our website and believe me, go on our homepage,
go down to the bottom. There's a lot, a lot
of good stuff. We have all of our podcasts, our webinars,

(46:04):
our white paper. There's a lot of stuff on our
homepage and digging into our website. In the meantime, I
hope you come back tomorrow Sunday morning, eight am. I
will be here. Have a great day, folks,