October 27, 2025 • 38 mins
On Retire Right Radio, Host Dale Cooper and John Burdette from www.FourthAvenueFinancial.com discuss financial planning for different eras of your life and general strategies. Hear the encore presentation Monday at 1:00pm on our sister station, Charleston Business Radio 95.3 | 680 WKAZ
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Phone: (304) 746-7977
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Speaker 1 (00:00):
Unlock your dream property with Meeks Realty Group, where Rich
the realtor makes real estate dreams a reality, whether it's
residential or commercial. We've got Charleston to Huntington covered. Your
key to exceptional real estate experience is start here Meeks Realtygroup.
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Speaker 2 (00:15):
The views and opinions expressed on this program do not
necessarily reflect the views and opinions of five eight WCCHS,
its employees or WVRC Media. This is Retire Right Radio,
a weekly show from John Verdet at Fourth Avenue Financial
that aims to answer your questions about financial planning, investing,
and how to retire right. Fourth Avenue Financial is located
(00:38):
in downtown Charleston at one seventy Court Street. More information
online at Fourth Avenue Financial dot com. Join the conversation
by calling three oh four three four five fifty eight
fifty eight or text three oh four nine three five
fifty oh eight. On Retire Right Radio, Let's go lide
to the studio with host Dale Cooper and John Verdett
(00:59):
from fourth I have any financial.
Speaker 3 (01:03):
Interpleasant wanting to you. It is twenty one minutes past
eight o'clock. It's a Monday morning here on five ad
w c HS the voice for Charles and joining me
in a studio this morning is John Burdett from Fourth
Avenue Financial. John, Good morning, how you doing this morning? Oh,
wonderful happy Monday to you. Yeah it is, We're.
Speaker 4 (01:19):
It's a Monday.
Speaker 3 (01:20):
Happy is a relative term, I suppose, right, but hey,
it's we're finally we're definitely getting into the autominal season. Now.
See you're wearing a little little zip up today. I
had to wear a jacket into work. There's no more
of this. I could have made it without a jacket
if I wanted to, but you know why you need one.
Speaker 5 (01:38):
Yeah, it's definitely layer weather. You know it's cold in
the morning and you take it off through the day.
Speaker 3 (01:44):
Now, I tell you what, it was nice. I did
so much outdoor work this weekend. It was so nice
because it was nice enough to where you could get
the things done, but it wasn't hot at all, so,
I mean, you could be out there forever and weren't
really you know, breaking a terrible sweat or anything. So
I did tons of yard work and and things like
that this weekend. Yeah, ambitious, Yeah, pretty fuch. I didn't
get I didn't get to my eves. I'm going to
(02:04):
be putting some covers on my eves and doing some
work with the drainage of my house. I didn't get
to that this weekend, but I did about everything else.
Did a lot of landscape clearing and stuff like that.
Just felt good.
Speaker 5 (02:14):
He was like, oh, well, I spent the weekend refinishing
a mid century one of those big stereo consoles.
Speaker 2 (02:24):
So nice.
Speaker 5 (02:25):
So I got that, you know, spruced up. I took
out all the old it was beyond repair, but the
case looked good and the speakers are great.
Speaker 4 (02:36):
So I took out all.
Speaker 5 (02:37):
The old components. And I haven't quite got everything set
in there yet, but putting new components in the old case,
and I've got it to the point where, you know,
I can play some records and it sounds great. It's
just not all quite hooked hooked in yet.
Speaker 3 (02:54):
The amazing thing about those old it's an old cabinets, yes, yeah.
The amazing thing about those old things is I know
that it was before Dolby's Surround and like all these
different layers of of of sound technology that we have today.
But simply putting the needle on a record in one
of those cabinet players and playing it through the speakers
that are on those things is one of the most
richest fulfilling sounds that you're ever going to get out
(03:16):
of out of a out of a record, that just
sounds great.
Speaker 5 (03:19):
I think it's because the you know, that cabinet, that space,
the resonance like sort of like a stringed instrument. You
know that that soundhole and the and the.
Speaker 3 (03:29):
Was a warm sound. I remember we had one forever
that my grandma had that was in my bedroom growing
up because I lived with my grandmother for a little while,
and that was one of my favorite. I listened to a
lot of radio in that too, like I listened to
tons of radio. Like you know, I had one of
those big sliding things you opened up that you pulled
the cabinet bag and had one of those big slotting
radio dials that you had to pull this big doal
for it.
Speaker 4 (03:48):
It was.
Speaker 3 (03:48):
It was a fancy one. So it was so nice.
It was like the h it was like counterweighted, the
spinner was counterweighted. It was real smooth, like there was
like a satisfaction of smoothness when you move the things.
Speaker 4 (03:58):
It's real heavy and man, things that just aren't made
like that anymore.
Speaker 5 (04:02):
No, you know. And I actually read an article about
this as I was trying to figure out how to
do this, and the reason I think is that per
you know, if you talk about inflation, I mean you
can go buy those components. I mean, certainly you can
spend a lot of money, but a lot of them
are not that pricey. When you bought one of those
(04:25):
consoles back in the day, I mean that was you know,
a month's labor to buy one of those things, and
there were less things that were competing in your household
for your entertainment dollar, so you could spend more money
on a quality piece where now just like our TVs
and everything else, they're disposable.
Speaker 4 (04:46):
Yeah, yeah, go pick up a TV. And I mean
literally go pick up a TV. You can.
Speaker 3 (04:49):
You can go pick up like an eighth TV with
one arm. Now, you know, it used to be like
I remember the first quote unquote HDTV that I got.
It was back in the early two thousands. It was
a tube HDTV. That thing's still weighed about four tons,
like you had to crane but in your house, you know,
And now those things are all lighter and it's amazing,
and that's all kind of we'll go and we'll talk
about the market today. But this all kind of plays
(05:11):
into these things, because you know, I was not really
on I was about to write to get on a
soapbox at some point within the last year or so
about how so many foods have changed, and I was
like going into like this this thing about over stringent
regulatory and some foods like that changing the textures of them.
They're they're not as pleasant to eat anymore. And and
(05:31):
some of this stuff is like the the sinful foods
these days, you know, the highly processed stuff like chips
and different things. Like people are like, well, they're terrible
for you anyway, Like maybe, but they just don't taste
as good as they used to, you know, And maybe
that's a maybe that's a feature of design. But you know,
sometimes if you're paying a premium price for something and
you're getting it, you'd like it to be quality thing,
you know, Right. So I started doing a little research
(05:53):
into this, convinced that it was because of like u
health scares and things like that, and corporations trying to
be like good citizens to keep there from being too
much fat stuff that's actually a very tiny, tiny, tiny
part of the reason that the corporations do it. The
vast majority of the changings of the uh of the
recipes or over the last decades, all has to do
with shipping weight.
Speaker 4 (06:14):
Right, and and they so they can ship them cheaper.
Speaker 3 (06:17):
The reason your cereal has a different texture now than
it did when you were growing up is not because
of some weird health food thing that takes the sugar.
It's because it's lighter, right, And then they can ship
it for cheaper, so they can charge you the same
for it, but it costs them less to ship the thing.
And so I was ready to go on my soapbox
over this thing. It was like, darn regulations. That's not regulations, man,
it's just companies making.
Speaker 5 (06:35):
Money, right right, yeah, yeah, And.
Speaker 4 (06:37):
There's nothing wrong. There's nothing wrong with that.
Speaker 3 (06:39):
It's just that's how things change, you know, Like people
talk about shrink flation or different things like that. These
are the little things in the economy. If General Mills
is still making still making U cereal, you know, there's
you know, it's still a it's still a robust company.
They found ways to continue and you know, that's just
I thought that was interesting because I really thought it
was a different reason than I was wrong.
Speaker 5 (06:58):
Well that's why, like when you look at them inflation numbers,
just like with the with the components, it's not just
you know, the devaluation of the dollar, but it also
has to do with what the consumer demands. You know,
if back then people demanded a higher quality things because
it was a big part of their budget, it was
(07:18):
a big piece of their entertainment dollar. Well, now your
entertainment dollar gets split across you know, five screens, and
you know, the components have to cost less as far
as a percentage of your entertainment dollar because you have
so many different options. And so it's just a you know,
it's it's not always well, you know, prices are up.
(07:41):
You know, I don't like to look at you know,
prices are up. I like to look at how much
labor do you have to put in to buy something?
But that's really what the cost is. That's great point, sure,
And and you know even though that things cost more today,
many things dollar wise costs more, but labor wise cost less. Yes,
not all things, not houses and things like that do not.
(08:03):
But but a lot of things manufactured goods are are
certainly more expensive dollar wise, but cheaper you know, washing
machine or things like that. You know, you could go
buy those with much less labor hours today than you
could thirty forty fifty years ago.
Speaker 3 (08:21):
It's an interesting discussion too, because the dual discussion that
you might have there is, for example, like the you
mentioned washers and dryers and things like that, like the
quality of production. You know, remember the old the old
commercial with the repair guy sitting back with his feed
up is like, they're never going to call me. When
was it maytig I guess you're never gonna call me
because these are such quality. That was the selling point
(08:41):
then as you could buy your washer and never have
to buy one again. Well, brother, you can't do that
now or you're not going to be in business. You
gotta there's gonna be a there's gotta be a a
there's going to be a nice crossing point of quality.
And also you're going to have to replace this sometimes
in the next seven to ten years, you know.
Speaker 5 (08:57):
And and and you know price points like I say,
you can certainly buy an expensive washer and dryer, but
but you can buy you know, it's it's still a
major purchase, but it's not the type of purchase. It
was to a family forty years, right.
Speaker 3 (09:12):
Yeah, and they're made to be and people might complain, well,
hey these things are made to break now, Yeah, but
they're cheaper. They're cheaper to get and they're and they're
cheaper to maintain. So there's a trade off on both
of those things. Yes, they are not made as well
as they used to be, but they're a lot cheaper
to get.
Speaker 5 (09:25):
To Mars, it has decided that, right, that's it, right,
you know, if if if people want to them in
the last fifty years and wanted to pay the price
for them, they could be made that way.
Speaker 3 (09:35):
Which I think is kind of what we see in
like the car economy. Instead of cars like coming down
in price, we just keep adding stuff to them, right,
you know, it's like we have to justify the price
of how much we're charging for these cars. Although they're
manufacturing costs are and as well, I guess they are now.
But but the rise of the cost of the car
has not taken place of the manufacturing costs like that
that's gone. But so how do we how do we
(09:57):
convince people to get them? Well, now you can get
all these gizmos, and.
Speaker 5 (10:00):
Again, cars have more components than they used to have.
You know, if you would strip down a car and
sell it like a you know, nineteen sixty something or
other with those same components on it, it'd be a
lot cheaper. It'd be a lot cheaper today. But you know,
the market has decided it's great insights this morning. I
just having kind of a casual conversation to kick things
(10:21):
off this morning. If you want to point the direct
conversation in any direction you want to, you're welcome to gives
a call this morning. It talks to John for debt
from Fourth Avenue Financial. You can learn how you can
retire right. Maybe you need a little bit of advice
or you're looking to reset the whole thing. John can
help you out this morning.
Speaker 3 (10:33):
Three zero four three four five fifty eight fifty eight
three four five fifty eight fifty eight. You can text
three zero four non three five five zeros or eight.
Some people like to keep it a little bit on
the anonymous side of things. You can do that at
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And you can find out more about Fourth Avenue Financial online.
It's fourth Avenue Financial dot com. You spell out the
whole thing Fourth Avenue Financial dot com and on Facebook.
You like the page on Facebook and you can find
out all kinds of information.
Speaker 4 (10:55):
From over there.
Speaker 3 (10:56):
A little bit of delayed opening and talking about the
market sort of as it stands right now. But I
heard some pretty good Frankly, I was off the last
half of the week last week. A lot of stuff
with the fam. I'm kind of out on the news things.
But the last things I was hearing, I think we
had some record second days last week, did we did?
Speaker 4 (11:14):
Yeah?
Speaker 5 (11:15):
Right, Yeah, it just keeps plowing ahead, climbing the wall
of worry, so to speak. The market celebrated it's the
bullmarket three year birthday. Oh wow, that's so Yeah. So
the market has been in the quote bull phase for
three years now, which is about you know, middle range
(11:39):
of what bull markets last. So the idea that we're
you know, at the end of the line of the
bull market, that's not necessarily so the average bull market
lasts about five years, so you know, we'll see what,
we'll see what happens. And the market is up ninety
percent since the bottom since the bull market started, so
(11:59):
seems pretty good, right, It's pretty good, But is that
that is actually average for three years into a bull market.
So you know, we have this this idea that you know,
we're always in some kind of an abnormal market, and historically, gosh,
we're falling right in the middle of the spectrum.
Speaker 3 (12:19):
Of every slice is normal somewhere right like we've all
been seen somewhere before. That's kind of interesting.
Speaker 5 (12:23):
And I mean, certainly, you know bull markets have been shorter,
you know, like if it were to in now. You know,
that's not atypical either, but the average last five years.
Speaker 3 (12:35):
The one thing that and we try to drive it home.
I think on this program a lot and do a
fairly good job at it. There's a lot of people
out there economically, in their day to day lives that
have a lot of question marks, people that are wondering
about things, or concerned about things, whatever.
Speaker 4 (12:47):
It might be.
Speaker 3 (12:48):
That's almost a separate question from the things that we
talk about here. The fact of the matter is there,
the market is doing very well. There's opportunity in the
market right now, and if you can't find a way
to get to that opportunity, that's why you need somebody
like John to help you out there. Because despite whatever
the headlines are, whatever the things that are that are
being moved around the minutia out there, and there's a
lot to try. Don't get me wrong that you can
(13:08):
use a professional like John to help steward through this, because,
like we said, the market's up. You might be personally
struggling a little bit, there might be some issues in
your family or something like that. But if you have
the opportunity to invest in your retirement, the opportunity is
still there for that money to go.
Speaker 4 (13:21):
To work for you.
Speaker 5 (13:22):
Yeah, no doubt. And even if you are concerned about
the market or the news, or feel like unsure about
being the right time, there are lots of tools in
the in the toolbox of investments that we could use
on your behalf that you know, might not may not
be the ideal thing that I would recommend, but could
(13:45):
get you closer to where you need to be. In
other words, we could find something that you can be
comfortable with and start moving you in the direction that
long term you need to be to grow your money
in retirement.
Speaker 3 (13:58):
That makes a lot of sense. This morning, you can
weigh in and if you would like to give us
a call. Three zer a four three four five fifty
eight fifty eight threes are a four three, four, five,
fifty eight, fifty eight. You can text threes are a four, nine, three, five,
five years or eight. So still with the government shut down,
we don't have any official government numbers as far as
as employment and inflation numbers and things like that, but
there's a lot of places that report those things separately
from where the government is. So you have to try
(14:20):
to figure out where those were as relation to government
numbers in the past, and then take their numbers now
and work that calculus and see sort of where things are.
It does look like that inflation might.
Speaker 5 (14:30):
Be a little sticky still in the area that we're in, yes,
but you know, certain areas of inflation are finally being
tamped down. So we had the you know, housing was
real sticky, and that is finally starting to recede. So
there again, it's not the prices have come down, it's
(14:50):
just that the growth rate of that has slowed. And
certainly real estate is a local market, so some areas
may go down, you know, that have that have gotten reheated,
but that's not the market overall in general. So when
you see these headlines there again headlines they want you
to click on them, you know, there may be areas
(15:10):
of the real estate market that are in a little
bit of trouble or over extended than are experiencing downturns,
but that's not the case overall.
Speaker 3 (15:20):
So and then as far as just because the government shutdowns,
it doesn't mean that we're not going to get any
earning numbers or anything like that that may be coming out.
So we have anything on the horizon that we have
to look forward to.
Speaker 5 (15:30):
Well, in the next couple of weeks, sixty percent of
the S and P five hundred will report earnings for
the third quarter, and most of the big Magnificent seven
all of those will be coming out in the next
couple of weeks. So that's certainly probably the big market mover,
you know, going to try to either confirm that your
(15:54):
earnings are still growing or or they have slowed down.
The expectation is still for really good earnings growth. I
think the Magnificent seven stocks, it's about a fifteen percent
rate expected of earnings growth for that group of stocks
and closer to nine to ten percent for the rest
of the market. Very healthy, I mean, it's very healthy.
(16:18):
I mean we probably will in the year unless there's
something unexpected in the last quarter. Was somewhere near a
double digit earnings growth, and earnings ultimately is what powers
the market forward because that's what you're buying when you
buy a stock, you're buying a piece of a company's earnings.
Speaker 3 (16:37):
I find it it's hardening in a way, and I've
never been in this situation before through I mean, there
was COVID, but that was kind of a unique downturn indicator,
and although we might be suffering some of the effects
from that still the times that we're in now, I've
not been in the place to see the show, to
sort of follow the bouncing balls as this thing goes along,
and it really is amazing. Everything that we try to
(16:59):
talk about on this program is absolutely true as far
as the market as an entity exists as itself, and
really the headlines, the politics, the things that people try
to get normies to engage in, really doesn't affect it
all that much. It's really at a much higher level
that these things operate, and so much of it as
(17:21):
lag because of future operators, people looking at into the
future that make these decisions. It's really hard for a
layperson enormy to follow that bouncing ball because you're reading
the headlines today, thinking, Oh, what's the market going to
do today? Man, they did that six weeks ago, you know,
I mean, that's already pass a as far as the
market goes.
Speaker 5 (17:37):
I mean you can just see that. A couple of
weeks ago there was the trade scare with China and
the rarer and the tariff threats and all of that,
and the market was down pretty big one day. We've
been up ever since. You know, that was just one headline.
Speaker 3 (17:56):
I'd like to get in whatever signal chat that bitcoin
go's in on that that made like five hundred million
dollars in the in a matter of a couple hours somehow,
knowing like all of that news ahead of time. That guy,
whatever single chat he's one, I would like to get in.
Speaker 5 (18:10):
Maybe maybe he used the uh the X ray glasses
that the NBA player did for the gambling guys.
Speaker 4 (18:16):
Oh yeah, Holy cow is that.
Speaker 3 (18:19):
We don't talk about that on this program, but man,
that NBA story is absolutely insane. Man, it is insane.
I've been following Pablo Tory has been breaking a lot
of these stories on the NBA and how all of
that stuff is going down, and he's got some great
sources on these things and man, it is insane.
Speaker 5 (18:33):
I thought X ray glasses were just from the movies.
Speaker 3 (18:36):
I guess there's a certain way like certain types of Yeah,
I thought they were in the back of the comic
books when I was growing up. You know, you can
get the X ray glasses and sort of insinuating that
maybe you could see through, you know, a lady's close.
I mean, that's what the uh, that's what the ad
was trying to insinuate.
Speaker 5 (18:52):
You know.
Speaker 4 (18:52):
Man, that's craziest the world that we're in. Hey, why
don't we do this? What's that? I'm sorry?
Speaker 3 (18:58):
Oh no, we can go to I was just gonna Hey,
let's go down and the other a break. We have
plenty of the stuff that we can talk about when
we come back. You can help control the conversation as well.
Three zero four three fourth three four five fifty fifty
eight three zero four three four five fifty eight fifty eight.
You can dial right in and get on the line
with Joon Bredet for Fourth Avenue Financial. You can read
along and find out more about Fourth Avenue Financial online.
It's fourth Avenue Financial dot com. Fourth Avenue Financial dot Com.
Head on over to Facebook, do that same search string,
(19:20):
and you can like the page over there. John Bredett
is here on retire Right Radio every Monday at eight
twenty right here on five ADWCHS. We're going to take
a break and be back right after this. You're listening
to a retire Right Radio. I'm Dell Cooper. That's John
Bredett on five ed WCHS, the voice of Charleston.
Speaker 6 (19:35):
Retire Right Radio a sponsored by Fourth Avenue Financial, which
is solo responsible for its content. Security is offered through
jw CL Financial Member FENTRECIPIIC. Investment advice offered through jw
COL Advisors. Fourth Avenue Financial, jw CL Financial and jw
COL Advisors are unaffiliated entities. The opinions expressed by John
Burdett should not be construed as specific investment, legal, or
tax advice. All economic and performance information is historical and
(19:57):
not indicative of future results. Testing may involve risk of
loss of principle. Any tax advice on this show is
not intended to be used by any person for the
purpose of avoiding US federal or state tax penalties that
may be imposed on such a person, and each listeners
should seek advice from their tax advisor or legal console
on topics that arise from the show. John Burdett is
(20:17):
not providing legal or tax advice. Nothing should be construed
as solicitation of an offer to buy securities. This program
is sponsored before that Avenue Financial, which is solely responsible
for its content.
Speaker 7 (20:29):
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Speaker 2 (20:57):
The latest and news talk in sports. When five eighty
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Get the inside scoop on West Virginia Sports with stick
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(21:34):
your calls at three oh four, three four five fifty
eight fifty eight or texts on three oh four nine
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Speaker 3 (21:53):
Coming back with a little Simmy Hendrix this morning. You're
listening to We're Sorry Right Radio in five adwh the
Voice of Charleston. You can give us a call this
morning three zero four three four five fifty eight fifty eight.
Three zero four, three four five fifty eight fifty eight.
You can also text three zer of four non three
five five zeros or eight. As far as protecting assets
to go, Jimmy Hendrix, bring us back here from the break.
I guess that Prince worked a lot with his estate
(22:15):
in the eighties and nineties to help secure a lot
of the because I guess Hendrix had a lot of
diffused rights through different labels and different things like that
that he had signed one too and was hard for
his family his estate to capture all of those rights,
and I guess Prince really helped them through that because
Prince of course was big into controlling his own music
and stuff. And so now the Jimmy Hendrix estate is
(22:36):
known as being one of the more For a long
time anyway, was known as being one of the more
reluctant to give rights for Hendrix's era stuff, and that's
all because they have that strength to do so now.
For the longest time, they had no power to do that.
I always thought that was kind of interesting that Prince
was really sort of their financial advisor to some degree
to help help the estate get the Jimmy Hendricks catalog
(22:56):
back under their previews. So I've always thought that was
kind of an interesting thing with Hendrix. The bad thing
about that is there's been a ton of unofficial Hendrix
like movies and things made where they didn't give.
Speaker 4 (23:06):
Authorization for music.
Speaker 3 (23:07):
So you would just see some guy out there like
welling Away on a guitar that's not like a Hendrix song,
just like where where I remember VH one did a
movie like that. It's like without the music, it doesn't
really really resonate as much. You're listening to a tire
right radio This morning, John our dad is here from
Fourth Avenue Financial. You can give us a call three
zer a four three four five fifty to fifty eight.
(23:27):
You can text three z are four nine three five
five zeros or eight. No reason to struggle out there
with the mystery of what's going on in the market
and what affects you. You can help John to mystify
all of those things that are going on with your
financial planning and all of the steps that it takes.
We talk about the market a lot on this program
because that's what we invest into, but there's a lot
more that goes into your financial plan than just evaluating
(23:48):
the market. There's a lot of steps that John can
lead you to to get you to the right place
where you feel comfortable with the retirement plan that you
have and there's no barriers to access. It's something that
you can give John call right away and get involved
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(24:10):
What as far as if folks are in this sort
of work, we're in October now, we're kind of climbing
towards the end of the year. I know, there's not
necessarily Hey, if you're looking into making a change or
into taking a look back on your on your retirement plan,
it doesn't necessarily have to be at the end of
the year. But a lot of people kind of because
that's when you get your documents and paperworking different things
(24:32):
like that. Not a bad time if you're thinking about
expanding doing something different, Maybe stop doing it yourself and
actually contacting a financial advisor. Maybe not a bad time
to start collecting your paperwork. You're gonna start getting stuff
anyway soon.
Speaker 5 (24:45):
Well, sure, I mean, there's never a bad time to
focus on finances. That's that's true. You know, as we
get towards the end of the year, there are opportunities
that might present themselves. Tax management, tax laws, selling, tax harvesting,
things like that that could help you potentially in your
situation to mitigate or control your tax bill. We see
(25:08):
a lot of that as we get towards the end
of the year. Of course, people that have to take
the required minimum distributions they're qualified charitable distributions. You know,
we need to get those done by the end of
the year. So there are certainly things that the calendar dictates,
but as far as overall financial planning, the best time
to do it is right now. You know, people ask
(25:30):
is it a good time to invest? And my question
is do you have money to invest? Because when you
have money is the best time to invest. That's you know,
just the bottom line. You can't predict day to day
what's going to happen, but over time you certainly can
be pretty doll on confident that the market is going
(25:51):
to grow. And I wanted to touch on a question
we had, I believe last.
Speaker 3 (25:56):
Week about goal Well, yeah, I remember we had somebody
called in why not you know what I mean?
Speaker 4 (26:00):
Yeah, it seems like a safe bet, right.
Speaker 5 (26:01):
Yeah, So and it kind of gets onto what we
were just now talking about. Segue is pretty pretty nice
and you know, right now gold has been in some
sort of a frenzy like it has from time to time,
although last week it was down, you know, pretty big,
but the commercials are still on TV and it talks
(26:23):
about how you know gold is safe and when the
market goes up like it has with gold you know,
they start touting these numbers of growth. You know, look,
you can grow your money. It's a safe way to
grow your money. And if you go back and I
did the math on this in nineteen seventy five, fifty
(26:44):
years ago, if you put ten thousand dollars in gold,
you could have bought sixty two ounces of gold. And
here fifty years later, what would you have. You'd have
sixty two ounces of gold. It's the same pile of
metal that you started with. They said, well, what is
(27:04):
sixty two ounces of gold worth today? It's about a
quarter of a million dollars.
Speaker 4 (27:08):
Oh okay, good investment.
Speaker 5 (27:09):
So you look at that and say, oh, my ten
thousand turned to a quarter of a million dollars.
Speaker 4 (27:14):
How smart am I?
Speaker 5 (27:15):
But if you had taken the same ten thousand dollars,
put it in the S and P five hundred and
reinvested the dividends and dividends are something that gold does
not have. Gold doesn't pay you while you hold it.
You know, companies do. Companies have earnings. They produce goods
and services and create earning streams that can be reinvested.
(27:39):
Companies are doing that themselves and reinvesting in their own companies,
trying to trying to develop new products, new goods and
services and innovate. And so that same ten thousand dollars
fifty years ago in the s and P five hundred
with reinvested dividends would be worth three point seven million
dollars a day.
Speaker 4 (28:00):
Yeah.
Speaker 5 (28:01):
Now one of those was a growth investment and one
of those was a more of a store of value.
You know, certainly it grew, it helped it kept.
Speaker 4 (28:11):
Up with Is that alas twelve?
Speaker 3 (28:13):
I'm not doing that right a factor of twelve, I
think right A quarter million said it said, wow, man,
there's a big difference.
Speaker 5 (28:20):
Now you might look at it and say, oh, last
year gold did better than the stock market. Well that's true,
but you still have the same amount of gold setting
in your safe. It's not growing, it's not doing anything.
And also those numbers, and I've seen this firsthand a
lot of these companies that are advertising trying to sell
you the gold ira. It costs money, a considerable amount
(28:46):
of money to buy gold, and it costs money to
sell gold, and those charts don't take that into account. So,
for instance, if if if you had an ounce of
gold and wanted to sell it, to me and it's
say it's four thousand dollars ounce, You're probably going to
get an offer of like thirty eight.
Speaker 3 (29:03):
Hundred dollars right right, because you can't you can't pay
market value for it, because what's the point.
Speaker 5 (29:08):
Right, And if you're going to buy an ounce of
gold and it's four thousand dollars an ounce, you're probably
going to pay forty one or forty two hundred dollars
for it. So there's a spread there, and that spread
is much wider than a stock price spread. You know,
when you buy a big company like Amazon or Apple,
(29:29):
that spread is in the pennies maybe even fractions of
pennies between the bid and the ask. It's very tight
and very liquid market. Not so for those metals. So
that spread and the bid and ask is much much wider.
And you know, so you convert your part of your
(29:50):
IRA into gold, like the commercial say, right off the
top of the top of it, you might lose five
percent or more in the transaction cost of buying the gold.
Speaker 4 (30:00):
Sounds rough, actually, So it's just.
Speaker 5 (30:03):
Something that that it is. It pops up every couple
of years.
Speaker 3 (30:09):
I have this theory that kind of ties into it.
It always seems to go hand in hand with these
sort of prepping services. You know, can't trust the government.
Everything's getting ready to go to hell, you know, whatever
it like plays on like a certain kind of fear,
and I have this this feeling that really it's playing
(30:30):
on a fictionalized version.
Speaker 4 (30:33):
Of a post apocalyptic United States.
Speaker 3 (30:35):
But there's this assumption that if something happened, like if
you know, there was an EMP and suddenly all the electricity,
that suddenly gold would be massively valuable. Again, that would
be like the Old West that we were carrying around
leather satchels with gold pieces in it, and that's how
the economy would work. And I wonder what evidence there
is for that, because I just don't think that that
is how it would work. Information and resources would be
(30:57):
the key. And what is your average Joe want to
do with gold? You're not going to do anything with it?
Speaker 5 (31:01):
Well, it's very hard to you know, if if you're
going to trade with it, well, now everybody needs a scale, yeah, right.
Speaker 4 (31:09):
And then what are you going to do? I mean,
what's the value of it?
Speaker 5 (31:12):
It's very very difficult.
Speaker 3 (31:13):
But so I don't I think that there's this this
thought that's like you know that, Hey, you know, if
if everything goes to hell, I'm going to carry around
my gold and you know, some old caudure is going
to bite into him like, oh sure, here's your milk partner.
I don't think that's going to be how it happens.
If it happens that way, I.
Speaker 5 (31:26):
Think if we break down that far, yeah, that would
not be the ideal way to do it. I'll tell
you what, you know. Since COVID, I will admit I've
got a few extra packs of toilet paper in the.
Speaker 4 (31:37):
House as good as at one time.
Speaker 5 (31:41):
That's about as far as I'm prepping here.
Speaker 4 (31:44):
I think that we just started buying in balks.
Speaker 3 (31:46):
We always have a lot of toilet paper because we
just just this is the way it is now, because
we found a way to do so in bulk. You know,
there's all of different avenues that you can approach this
discussion when it comes to being a good steward of
your financial future, and there's a lot of different reasons
you may need to be. You could be you know,
you could be a single person out there that doesn't
have a massive family to worry about. That also means
you might not have massive family to help you when
(32:06):
you get to that retirement. That means you need to
be even more independent. You need help getting into retirement.
Prince isn't always going to show up, that's right. They're
always going to help you do those things. If you
maybe you do have a big expansive family. That's another
reason you need to make sure you have all these
things put into order. Make sure you have your state
planning in order as well. I mean, there's all of
these things work in concert with each other. They're all
(32:27):
part of a living organism when it comes to your
financial future about living with your retirement, on how to
retire right, all these things one feeds into the other,
and you can't just take one vein of it and
hope that it works out. So you really have to
be aware of all of these different aspects as you
approach any as any point in your life, but always
looking forward to at some point in time if things
(32:47):
go well, you're gonna have to retire and you're gonna
have to figure out a way to.
Speaker 4 (32:50):
Make it work.
Speaker 5 (32:50):
Absolutely, you have to do that for yourself. That's an
individual decisions that gets you to where you need to be.
All of these things that we hear every day on
the news. It's it's truly noise. It's noise. You control
the outcome by your actions, and you know that I
(33:11):
believe is certainly a valuable service that I can offer.
That is, Okay, let's sit down and focus on you.
Let's not worry about the president. Let's not worry about
Let's talk about you and what's important to you. What
do you want to achieve, and then we'll build a
(33:31):
plan around that. Because the things you're worried about today
by reading the news are going to be either the
same thing tomorrow or something new. There will never be
a day you turn on the TV or open up
the newspaper and it's empty. There will always be something.
(33:51):
And most of the things you're going to read about
because it's human natured and want to know what could happen?
What's the monster outside the cave? You know it's going
to be negative. That's just human nature. You know, people
worry about protecting themselves. That's how we survived as a species.
But that's not the best instinct to invest in. You know,
(34:17):
you have to have faith in a better tomorrow, which
historically is what has happened. You know, innovation, you know
the things that we can do today that didn't even
exist fifty years ago when gold was was you know,
at that price. I mean, look, that's why the market
grew so much. It's growth, it's expansion, it's the goods
(34:41):
and service. We all have more goods and services than
we ever had. It's just because we can produce so
much more efficiently. And that's what the market does, and
that's what you're investing in. And you know the only
reason that would stop is if we all as a
society just say Okay, we're done, We're done solving problems,
(35:04):
We're done trying to do better. I just don't think
that's going to happen.
Speaker 3 (35:09):
And when you look back at all the different eras,
and you don't even have to look at it from
pure financial sense, but when you look at I mean
from the time that of the Right Brothers in Kitty Hawk,
North Carolina to when we went on to the Moon,
I mean you were talking like just over sixty years,
you know, I mean the amount of industry that was
created in that time, the amount of money that was made.
(35:30):
And I don't mean that from a capitalist I mean sure,
from a capitalist standpoint, but that was a product of
a country growing and people doing the things to make
a country grow and bringing everybody along with it. Now,
the what we've seen since that time has been so
much more on sciences that not only have to do
a space and then medicine and different things like that.
(35:50):
I mean, again, it's it's the country growing and doing things.
It's been amazing when you look at the just like
this one hundred years. Yeah, it's a one hundred year history.
It's incredible the amount of industry that we've put together.
Speaker 5 (36:02):
I mean, you can read the articles that are doomed
about our food and the quality of this and obesity
and all that. You know, that's fun. But you know,
people are living longer, you know, all along the way.
You know, we've added thirty percent to our lives, you know,
in the last fifty years, sixty years. I mean, that's
that's incredible. That's incredible, and that's what you're investing in.
Speaker 3 (36:25):
I think it's hugely optimistic when you look at it
from a large scale and even just from the course
of the different periods of your lifetime, your early life,
in late life. I mean I get to observe these
things even as a fifty one year old, and I mean,
it seems to always work out, you know. I mean
there should be great confidence, and it really is an
(36:47):
inspiring story. When you think about things from a broad
stand ways, you think about something like the space race.
Are we now in space three point zero? I mean,
I think we kind of went past two point oh already.
My good buddy Rod Powell wrote a bunch of books
on space two point oh. I think we're in three
point oh already. There's industry there that's going to be
created that's like this combination of rockets and AI you know.
I mean it's a really pretty exciting time for things.
Speaker 5 (37:08):
Yeah, and things will continue to change. I mean, you know,
five ten years from now, will people be driving cars?
Will there will there be drivers.
Speaker 3 (37:16):
Let's not go get on the Jetson's cars again, man,
that's already.
Speaker 5 (37:19):
They're gonna fly, but they may drive themselves. You know that.
You can already see that happening. And if you think
about that, the impact economically of that could be tremendous.
You know. It's it's just I don't know, I don't
know if that will come true or not. But the
opportunity is always there for things that happen and change
(37:43):
the way we live.
Speaker 3 (37:44):
I think is greatly optimistic. And I'm also optimistic since
I think Jim Carrey is coming out in a Jetson's
movie in a couple of years. Maybe that maybe that's
a foreshadowing to actually our flying cars. Those flying cars. Yeah,
I don't think so. I don't think i'd want one, either,
John or dat. For fourth Avenue Financial, let me get
the information out to you want one more time for
Avenue Financial dot Com. You spell out the whole thing
or like it on Facebook. Fourth Avenue Financial dot Com
(38:04):
located at one seventy Court Street, downtown Charleston, right across
from the Town Center Mall seven four six seven non
seven seven three zero four seven four six seven non
seven seven three zero four seven four six seven non
seven seven John, see you back here next week. All right,
take care, Thanks a bunch. I appreciate that. Dave Allan
is coming up next on five eighty Live. I'll be
back this afternoon at three o'clock with Dave weekly on hotline.
Have a great day everyone on five ADW CHS The Voice.
Speaker 4 (38:27):
Of Charleston.
Speaker 2 (38:31):
W c hs AI W two four three d r
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at WVRC Media Station. We're proud to live here too,
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Speaker 2 (00:15):
The views and opinions expressed on this program do not
necessarily reflect the views and opinions of five eight WCCHS,
its employees or WVRC Media. This is Retire Right Radio,
a weekly show from John Verdet at Fourth Avenue Financial
that aims to answer your questions about financial planning, investing,
and how to retire right. Fourth Avenue Financial is located
(00:38):
in downtown Charleston at one seventy Court Street. More information
online at Fourth Avenue Financial dot com. Join the conversation
by calling three oh four three four five fifty eight
fifty eight or text three oh four nine three five
fifty oh eight. On Retire Right Radio, Let's go lide
to the studio with host Dale Cooper and John Verdett
(00:59):
from fourth I have any financial.
Speaker 3 (01:03):
Interpleasant wanting to you. It is twenty one minutes past
eight o'clock. It's a Monday morning here on five ad
w c HS the voice for Charles and joining me
in a studio this morning is John Burdett from Fourth
Avenue Financial. John, Good morning, how you doing this morning? Oh,
wonderful happy Monday to you. Yeah it is, We're.
Speaker 4 (01:19):
It's a Monday.
Speaker 3 (01:20):
Happy is a relative term, I suppose, right, but hey,
it's we're finally we're definitely getting into the autominal season. Now.
See you're wearing a little little zip up today. I
had to wear a jacket into work. There's no more
of this. I could have made it without a jacket
if I wanted to, but you know why you need one.
Speaker 5 (01:38):
Yeah, it's definitely layer weather. You know it's cold in
the morning and you take it off through the day.
Speaker 3 (01:44):
Now, I tell you what, it was nice. I did
so much outdoor work this weekend. It was so nice
because it was nice enough to where you could get
the things done, but it wasn't hot at all, so,
I mean, you could be out there forever and weren't
really you know, breaking a terrible sweat or anything. So
I did tons of yard work and and things like
that this weekend. Yeah, ambitious, Yeah, pretty fuch. I didn't
get I didn't get to my eves. I'm going to
(02:04):
be putting some covers on my eves and doing some
work with the drainage of my house. I didn't get
to that this weekend, but I did about everything else.
Did a lot of landscape clearing and stuff like that.
Just felt good.
Speaker 5 (02:14):
He was like, oh, well, I spent the weekend refinishing
a mid century one of those big stereo consoles.
Speaker 2 (02:24):
So nice.
Speaker 5 (02:25):
So I got that, you know, spruced up. I took
out all the old it was beyond repair, but the
case looked good and the speakers are great.
Speaker 4 (02:36):
So I took out all.
Speaker 5 (02:37):
The old components. And I haven't quite got everything set
in there yet, but putting new components in the old case,
and I've got it to the point where, you know,
I can play some records and it sounds great. It's
just not all quite hooked hooked in yet.
Speaker 3 (02:54):
The amazing thing about those old it's an old cabinets, yes, yeah.
The amazing thing about those old things is I know
that it was before Dolby's Surround and like all these
different layers of of of sound technology that we have today.
But simply putting the needle on a record in one
of those cabinet players and playing it through the speakers
that are on those things is one of the most
richest fulfilling sounds that you're ever going to get out
(03:16):
of out of a out of a record, that just
sounds great.
Speaker 5 (03:19):
I think it's because the you know, that cabinet, that space,
the resonance like sort of like a stringed instrument. You
know that that soundhole and the and the.
Speaker 3 (03:29):
Was a warm sound. I remember we had one forever
that my grandma had that was in my bedroom growing
up because I lived with my grandmother for a little while,
and that was one of my favorite. I listened to a
lot of radio in that too, like I listened to
tons of radio. Like you know, I had one of
those big sliding things you opened up that you pulled
the cabinet bag and had one of those big slotting
radio dials that you had to pull this big doal
for it.
Speaker 4 (03:48):
It was.
Speaker 3 (03:48):
It was a fancy one. So it was so nice.
It was like the h it was like counterweighted, the
spinner was counterweighted. It was real smooth, like there was
like a satisfaction of smoothness when you move the things.
Speaker 4 (03:58):
It's real heavy and man, things that just aren't made
like that anymore.
Speaker 5 (04:02):
No, you know. And I actually read an article about
this as I was trying to figure out how to
do this, and the reason I think is that per
you know, if you talk about inflation, I mean you
can go buy those components. I mean, certainly you can
spend a lot of money, but a lot of them
are not that pricey. When you bought one of those
(04:25):
consoles back in the day, I mean that was you know,
a month's labor to buy one of those things, and
there were less things that were competing in your household
for your entertainment dollar, so you could spend more money
on a quality piece where now just like our TVs
and everything else, they're disposable.
Speaker 4 (04:46):
Yeah, yeah, go pick up a TV. And I mean
literally go pick up a TV. You can.
Speaker 3 (04:49):
You can go pick up like an eighth TV with
one arm. Now, you know, it used to be like
I remember the first quote unquote HDTV that I got.
It was back in the early two thousands. It was
a tube HDTV. That thing's still weighed about four tons,
like you had to crane but in your house, you know,
And now those things are all lighter and it's amazing,
and that's all kind of we'll go and we'll talk
about the market today. But this all kind of plays
(05:11):
into these things, because you know, I was not really
on I was about to write to get on a
soapbox at some point within the last year or so
about how so many foods have changed, and I was
like going into like this this thing about over stringent
regulatory and some foods like that changing the textures of them.
They're they're not as pleasant to eat anymore. And and
(05:31):
some of this stuff is like the the sinful foods
these days, you know, the highly processed stuff like chips
and different things. Like people are like, well, they're terrible
for you anyway, Like maybe, but they just don't taste
as good as they used to, you know, And maybe
that's a maybe that's a feature of design. But you know,
sometimes if you're paying a premium price for something and
you're getting it, you'd like it to be quality thing,
you know, Right. So I started doing a little research
(05:53):
into this, convinced that it was because of like u
health scares and things like that, and corporations trying to
be like good citizens to keep there from being too
much fat stuff that's actually a very tiny, tiny, tiny
part of the reason that the corporations do it. The
vast majority of the changings of the uh of the
recipes or over the last decades, all has to do
with shipping weight.
Speaker 4 (06:14):
Right, and and they so they can ship them cheaper.
Speaker 3 (06:17):
The reason your cereal has a different texture now than
it did when you were growing up is not because
of some weird health food thing that takes the sugar.
It's because it's lighter, right, And then they can ship
it for cheaper, so they can charge you the same
for it, but it costs them less to ship the thing.
And so I was ready to go on my soapbox
over this thing. It was like, darn regulations. That's not regulations, man,
it's just companies making.
Speaker 5 (06:35):
Money, right right, yeah, yeah, And.
Speaker 4 (06:37):
There's nothing wrong. There's nothing wrong with that.
Speaker 3 (06:39):
It's just that's how things change, you know, Like people
talk about shrink flation or different things like that. These
are the little things in the economy. If General Mills
is still making still making U cereal, you know, there's
you know, it's still a it's still a robust company.
They found ways to continue and you know, that's just
I thought that was interesting because I really thought it
was a different reason than I was wrong.
Speaker 5 (06:58):
Well that's why, like when you look at them inflation numbers,
just like with the with the components, it's not just
you know, the devaluation of the dollar, but it also
has to do with what the consumer demands. You know,
if back then people demanded a higher quality things because
it was a big part of their budget, it was
(07:18):
a big piece of their entertainment dollar. Well, now your
entertainment dollar gets split across you know, five screens, and
you know, the components have to cost less as far
as a percentage of your entertainment dollar because you have
so many different options. And so it's just a you know,
it's it's not always well, you know, prices are up.
(07:41):
You know, I don't like to look at you know,
prices are up. I like to look at how much
labor do you have to put in to buy something?
But that's really what the cost is. That's great point, sure,
And and you know even though that things cost more today,
many things dollar wise costs more, but labor wise cost less. Yes,
not all things, not houses and things like that do not.
(08:03):
But but a lot of things manufactured goods are are
certainly more expensive dollar wise, but cheaper you know, washing
machine or things like that. You know, you could go
buy those with much less labor hours today than you
could thirty forty fifty years ago.
Speaker 3 (08:21):
It's an interesting discussion too, because the dual discussion that
you might have there is, for example, like the you
mentioned washers and dryers and things like that, like the
quality of production. You know, remember the old the old
commercial with the repair guy sitting back with his feed
up is like, they're never going to call me. When
was it maytig I guess you're never gonna call me
because these are such quality. That was the selling point
(08:41):
then as you could buy your washer and never have
to buy one again. Well, brother, you can't do that
now or you're not going to be in business. You
gotta there's gonna be a there's gotta be a a
there's going to be a nice crossing point of quality.
And also you're going to have to replace this sometimes
in the next seven to ten years, you know.
Speaker 5 (08:57):
And and and you know price points like I say,
you can certainly buy an expensive washer and dryer, but
but you can buy you know, it's it's still a
major purchase, but it's not the type of purchase. It
was to a family forty years, right.
Speaker 3 (09:12):
Yeah, and they're made to be and people might complain, well,
hey these things are made to break now, Yeah, but
they're cheaper. They're cheaper to get and they're and they're
cheaper to maintain. So there's a trade off on both
of those things. Yes, they are not made as well
as they used to be, but they're a lot cheaper
to get.
Speaker 5 (09:25):
To Mars, it has decided that, right, that's it, right,
you know, if if if people want to them in
the last fifty years and wanted to pay the price
for them, they could be made that way.
Speaker 3 (09:35):
Which I think is kind of what we see in
like the car economy. Instead of cars like coming down
in price, we just keep adding stuff to them, right,
you know, it's like we have to justify the price
of how much we're charging for these cars. Although they're
manufacturing costs are and as well, I guess they are now.
But but the rise of the cost of the car
has not taken place of the manufacturing costs like that
that's gone. But so how do we how do we
(09:57):
convince people to get them? Well, now you can get
all these gizmos, and.
Speaker 5 (10:00):
Again, cars have more components than they used to have.
You know, if you would strip down a car and
sell it like a you know, nineteen sixty something or
other with those same components on it, it'd be a
lot cheaper. It'd be a lot cheaper today. But you know,
the market has decided it's great insights this morning. I
just having kind of a casual conversation to kick things
(10:21):
off this morning. If you want to point the direct
conversation in any direction you want to, you're welcome to gives
a call this morning. It talks to John for debt
from Fourth Avenue Financial. You can learn how you can
retire right. Maybe you need a little bit of advice
or you're looking to reset the whole thing. John can
help you out this morning.
Speaker 3 (10:33):
Three zero four three four five fifty eight fifty eight
three four five fifty eight fifty eight. You can text
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Some people like to keep it a little bit on
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It's fourth Avenue Financial dot com. You spell out the
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You like the page on Facebook and you can find
out all kinds of information.
Speaker 4 (10:55):
From over there.
Speaker 3 (10:56):
A little bit of delayed opening and talking about the
market sort of as it stands right now. But I
heard some pretty good Frankly, I was off the last
half of the week last week. A lot of stuff
with the fam. I'm kind of out on the news things.
But the last things I was hearing, I think we
had some record second days last week, did we did?
Speaker 4 (11:14):
Yeah?
Speaker 5 (11:15):
Right, Yeah, it just keeps plowing ahead, climbing the wall
of worry, so to speak. The market celebrated it's the
bullmarket three year birthday. Oh wow, that's so Yeah. So
the market has been in the quote bull phase for
three years now, which is about you know, middle range
(11:39):
of what bull markets last. So the idea that we're
you know, at the end of the line of the
bull market, that's not necessarily so the average bull market
lasts about five years, so you know, we'll see what,
we'll see what happens. And the market is up ninety
percent since the bottom since the bull market started, so
(11:59):
seems pretty good, right, It's pretty good, But is that
that is actually average for three years into a bull market.
So you know, we have this this idea that you know,
we're always in some kind of an abnormal market, and historically, gosh,
we're falling right in the middle of the spectrum.
Speaker 3 (12:19):
Of every slice is normal somewhere right like we've all
been seen somewhere before. That's kind of interesting.
Speaker 5 (12:23):
And I mean, certainly, you know bull markets have been shorter,
you know, like if it were to in now. You know,
that's not atypical either, but the average last five years.
Speaker 3 (12:35):
The one thing that and we try to drive it home.
I think on this program a lot and do a
fairly good job at it. There's a lot of people
out there economically, in their day to day lives that
have a lot of question marks, people that are wondering
about things, or concerned about things, whatever.
Speaker 4 (12:47):
It might be.
Speaker 3 (12:48):
That's almost a separate question from the things that we
talk about here. The fact of the matter is there,
the market is doing very well. There's opportunity in the
market right now, and if you can't find a way
to get to that opportunity, that's why you need somebody
like John to help you out there. Because despite whatever
the headlines are, whatever the things that are that are
being moved around the minutia out there, and there's a
lot to try. Don't get me wrong that you can
(13:08):
use a professional like John to help steward through this, because,
like we said, the market's up. You might be personally
struggling a little bit, there might be some issues in
your family or something like that. But if you have
the opportunity to invest in your retirement, the opportunity is
still there for that money to go.
Speaker 4 (13:21):
To work for you.
Speaker 5 (13:22):
Yeah, no doubt. And even if you are concerned about
the market or the news, or feel like unsure about
being the right time, there are lots of tools in
the in the toolbox of investments that we could use
on your behalf that you know, might not may not
be the ideal thing that I would recommend, but could
(13:45):
get you closer to where you need to be. In
other words, we could find something that you can be
comfortable with and start moving you in the direction that
long term you need to be to grow your money
in retirement.
Speaker 3 (13:58):
That makes a lot of sense. This morning, you can
weigh in and if you would like to give us
a call. Three zer a four three four five fifty
eight fifty eight threes are a four three, four, five,
fifty eight, fifty eight. You can text threes are a four, nine, three, five,
five years or eight. So still with the government shut down,
we don't have any official government numbers as far as
as employment and inflation numbers and things like that, but
there's a lot of places that report those things separately
from where the government is. So you have to try
(14:20):
to figure out where those were as relation to government
numbers in the past, and then take their numbers now
and work that calculus and see sort of where things are.
It does look like that inflation might.
Speaker 5 (14:30):
Be a little sticky still in the area that we're in, yes,
but you know, certain areas of inflation are finally being
tamped down. So we had the you know, housing was
real sticky, and that is finally starting to recede. So
there again, it's not the prices have come down, it's
(14:50):
just that the growth rate of that has slowed. And
certainly real estate is a local market, so some areas
may go down, you know, that have that have gotten reheated,
but that's not the market overall in general. So when
you see these headlines there again headlines they want you
to click on them, you know, there may be areas
(15:10):
of the real estate market that are in a little
bit of trouble or over extended than are experiencing downturns,
but that's not the case overall.
Speaker 3 (15:20):
So and then as far as just because the government shutdowns,
it doesn't mean that we're not going to get any
earning numbers or anything like that that may be coming out.
So we have anything on the horizon that we have
to look forward to.
Speaker 5 (15:30):
Well, in the next couple of weeks, sixty percent of
the S and P five hundred will report earnings for
the third quarter, and most of the big Magnificent seven
all of those will be coming out in the next
couple of weeks. So that's certainly probably the big market mover,
you know, going to try to either confirm that your
(15:54):
earnings are still growing or or they have slowed down.
The expectation is still for really good earnings growth. I
think the Magnificent seven stocks, it's about a fifteen percent
rate expected of earnings growth for that group of stocks
and closer to nine to ten percent for the rest
of the market. Very healthy, I mean, it's very healthy.
(16:18):
I mean we probably will in the year unless there's
something unexpected in the last quarter. Was somewhere near a
double digit earnings growth, and earnings ultimately is what powers
the market forward because that's what you're buying when you
buy a stock, you're buying a piece of a company's earnings.
Speaker 3 (16:37):
I find it it's hardening in a way, and I've
never been in this situation before through I mean, there
was COVID, but that was kind of a unique downturn indicator,
and although we might be suffering some of the effects
from that still the times that we're in now, I've
not been in the place to see the show, to
sort of follow the bouncing balls as this thing goes along,
and it really is amazing. Everything that we try to
(16:59):
talk about on this program is absolutely true as far
as the market as an entity exists as itself, and
really the headlines, the politics, the things that people try
to get normies to engage in, really doesn't affect it
all that much. It's really at a much higher level
that these things operate, and so much of it as
(17:21):
lag because of future operators, people looking at into the
future that make these decisions. It's really hard for a
layperson enormy to follow that bouncing ball because you're reading
the headlines today, thinking, Oh, what's the market going to
do today? Man, they did that six weeks ago, you know,
I mean, that's already pass a as far as the
market goes.
Speaker 5 (17:37):
I mean you can just see that. A couple of
weeks ago there was the trade scare with China and
the rarer and the tariff threats and all of that,
and the market was down pretty big one day. We've
been up ever since. You know, that was just one headline.
Speaker 3 (17:56):
I'd like to get in whatever signal chat that bitcoin
go's in on that that made like five hundred million
dollars in the in a matter of a couple hours somehow,
knowing like all of that news ahead of time. That guy,
whatever single chat he's one, I would like to get in.
Speaker 5 (18:10):
Maybe maybe he used the uh the X ray glasses
that the NBA player did for the gambling guys.
Speaker 4 (18:16):
Oh yeah, Holy cow is that.
Speaker 3 (18:19):
We don't talk about that on this program, but man,
that NBA story is absolutely insane. Man, it is insane.
I've been following Pablo Tory has been breaking a lot
of these stories on the NBA and how all of
that stuff is going down, and he's got some great
sources on these things and man, it is insane.
Speaker 5 (18:33):
I thought X ray glasses were just from the movies.
Speaker 3 (18:36):
I guess there's a certain way like certain types of Yeah,
I thought they were in the back of the comic
books when I was growing up. You know, you can
get the X ray glasses and sort of insinuating that
maybe you could see through, you know, a lady's close.
I mean, that's what the uh, that's what the ad
was trying to insinuate.
Speaker 5 (18:52):
You know.
Speaker 4 (18:52):
Man, that's craziest the world that we're in. Hey, why
don't we do this? What's that? I'm sorry?
Speaker 3 (18:58):
Oh no, we can go to I was just gonna Hey,
let's go down and the other a break. We have
plenty of the stuff that we can talk about when
we come back. You can help control the conversation as well.
Three zero four three fourth three four five fifty fifty
eight three zero four three four five fifty eight fifty eight.
You can dial right in and get on the line
with Joon Bredet for Fourth Avenue Financial. You can read
along and find out more about Fourth Avenue Financial online.
It's fourth Avenue Financial dot com. Fourth Avenue Financial dot Com.
Head on over to Facebook, do that same search string,
(19:20):
and you can like the page over there. John Bredett
is here on retire Right Radio every Monday at eight
twenty right here on five ADWCHS. We're going to take
a break and be back right after this. You're listening
to a retire Right Radio. I'm Dell Cooper. That's John
Bredett on five ed WCHS, the voice of Charleston.
Speaker 6 (19:35):
Retire Right Radio a sponsored by Fourth Avenue Financial, which
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jw CL Financial Member FENTRECIPIIC. Investment advice offered through jw
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COL Advisors are unaffiliated entities. The opinions expressed by John
Burdett should not be construed as specific investment, legal, or
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(19:57):
not indicative of future results. Testing may involve risk of
loss of principle. Any tax advice on this show is
not intended to be used by any person for the
purpose of avoiding US federal or state tax penalties that
may be imposed on such a person, and each listeners
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(20:17):
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Speaker 7 (20:29):
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Get the inside scoop on West Virginia Sports with stick
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(21:34):
your calls at three oh four, three four five fifty
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Speaker 3 (21:53):
Coming back with a little Simmy Hendrix this morning. You're
listening to We're Sorry Right Radio in five adwh the
Voice of Charleston. You can give us a call this
morning three zero four three four five fifty eight fifty eight.
Three zero four, three four five fifty eight fifty eight.
You can also text three zer of four non three
five five zeros or eight. As far as protecting assets
to go, Jimmy Hendrix, bring us back here from the break.
I guess that Prince worked a lot with his estate
(22:15):
in the eighties and nineties to help secure a lot
of the because I guess Hendrix had a lot of
diffused rights through different labels and different things like that
that he had signed one too and was hard for
his family his estate to capture all of those rights,
and I guess Prince really helped them through that because
Prince of course was big into controlling his own music
and stuff. And so now the Jimmy Hendrix estate is
(22:36):
known as being one of the more For a long
time anyway, was known as being one of the more
reluctant to give rights for Hendrix's era stuff, and that's
all because they have that strength to do so now.
For the longest time, they had no power to do that.
I always thought that was kind of interesting that Prince
was really sort of their financial advisor to some degree
to help help the estate get the Jimmy Hendricks catalog
(22:56):
back under their previews. So I've always thought that was
kind of an interesting thing with Hendrix. The bad thing
about that is there's been a ton of unofficial Hendrix
like movies and things made where they didn't give.
Speaker 4 (23:06):
Authorization for music.
Speaker 3 (23:07):
So you would just see some guy out there like
welling Away on a guitar that's not like a Hendrix song,
just like where where I remember VH one did a
movie like that. It's like without the music, it doesn't
really really resonate as much. You're listening to a tire
right radio This morning, John our dad is here from
Fourth Avenue Financial. You can give us a call three
zer a four three four five fifty to fifty eight.
(23:27):
You can text three z are four nine three five
five zeros or eight. No reason to struggle out there
with the mystery of what's going on in the market
and what affects you. You can help John to mystify
all of those things that are going on with your
financial planning and all of the steps that it takes.
We talk about the market a lot on this program
because that's what we invest into, but there's a lot
more that goes into your financial plan than just evaluating
(23:48):
the market. There's a lot of steps that John can
lead you to to get you to the right place
where you feel comfortable with the retirement plan that you
have and there's no barriers to access. It's something that
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with Worth Avnue financially. You can start by giving us
a call this morning if you want to three zero four,
three four five fifty eight fifty eight, or you can
text three zero four nonin three five five zeros or eight.
(24:10):
What as far as if folks are in this sort
of work, we're in October now, we're kind of climbing
towards the end of the year. I know, there's not
necessarily Hey, if you're looking into making a change or
into taking a look back on your on your retirement plan,
it doesn't necessarily have to be at the end of
the year. But a lot of people kind of because
that's when you get your documents and paperworking different things
(24:32):
like that. Not a bad time if you're thinking about
expanding doing something different, Maybe stop doing it yourself and
actually contacting a financial advisor. Maybe not a bad time
to start collecting your paperwork. You're gonna start getting stuff
anyway soon.
Speaker 5 (24:45):
Well, sure, I mean, there's never a bad time to
focus on finances. That's that's true. You know, as we
get towards the end of the year, there are opportunities
that might present themselves. Tax management, tax laws, selling, tax harvesting,
things like that that could help you potentially in your
situation to mitigate or control your tax bill. We see
(25:08):
a lot of that as we get towards the end
of the year. Of course, people that have to take
the required minimum distributions they're qualified charitable distributions. You know,
we need to get those done by the end of
the year. So there are certainly things that the calendar dictates,
but as far as overall financial planning, the best time
to do it is right now. You know, people ask
(25:30):
is it a good time to invest? And my question
is do you have money to invest? Because when you
have money is the best time to invest. That's you know,
just the bottom line. You can't predict day to day
what's going to happen, but over time you certainly can
be pretty doll on confident that the market is going
(25:51):
to grow. And I wanted to touch on a question
we had, I believe last.
Speaker 3 (25:56):
Week about goal Well, yeah, I remember we had somebody
called in why not you know what I mean?
Speaker 4 (26:00):
Yeah, it seems like a safe bet, right.
Speaker 5 (26:01):
Yeah, So and it kind of gets onto what we
were just now talking about. Segue is pretty pretty nice
and you know, right now gold has been in some
sort of a frenzy like it has from time to time,
although last week it was down, you know, pretty big,
but the commercials are still on TV and it talks
(26:23):
about how you know gold is safe and when the
market goes up like it has with gold you know,
they start touting these numbers of growth. You know, look,
you can grow your money. It's a safe way to
grow your money. And if you go back and I
did the math on this in nineteen seventy five, fifty
(26:44):
years ago, if you put ten thousand dollars in gold,
you could have bought sixty two ounces of gold. And
here fifty years later, what would you have. You'd have
sixty two ounces of gold. It's the same pile of
metal that you started with. They said, well, what is
(27:04):
sixty two ounces of gold worth today? It's about a
quarter of a million dollars.
Speaker 4 (27:08):
Oh okay, good investment.
Speaker 5 (27:09):
So you look at that and say, oh, my ten
thousand turned to a quarter of a million dollars.
Speaker 4 (27:14):
How smart am I?
Speaker 5 (27:15):
But if you had taken the same ten thousand dollars,
put it in the S and P five hundred and
reinvested the dividends and dividends are something that gold does
not have. Gold doesn't pay you while you hold it.
You know, companies do. Companies have earnings. They produce goods
and services and create earning streams that can be reinvested.
(27:39):
Companies are doing that themselves and reinvesting in their own companies,
trying to trying to develop new products, new goods and
services and innovate. And so that same ten thousand dollars
fifty years ago in the s and P five hundred
with reinvested dividends would be worth three point seven million
dollars a day.
Speaker 4 (28:00):
Yeah.
Speaker 5 (28:01):
Now one of those was a growth investment and one
of those was a more of a store of value.
You know, certainly it grew, it helped it kept.
Speaker 4 (28:11):
Up with Is that alas twelve?
Speaker 3 (28:13):
I'm not doing that right a factor of twelve, I
think right A quarter million said it said, wow, man,
there's a big difference.
Speaker 5 (28:20):
Now you might look at it and say, oh, last
year gold did better than the stock market. Well that's true,
but you still have the same amount of gold setting
in your safe. It's not growing, it's not doing anything.
And also those numbers, and I've seen this firsthand a
lot of these companies that are advertising trying to sell
you the gold ira. It costs money, a considerable amount
(28:46):
of money to buy gold, and it costs money to
sell gold, and those charts don't take that into account. So,
for instance, if if if you had an ounce of
gold and wanted to sell it, to me and it's
say it's four thousand dollars ounce, You're probably going to
get an offer of like thirty eight.
Speaker 3 (29:03):
Hundred dollars right right, because you can't you can't pay
market value for it, because what's the point.
Speaker 5 (29:08):
Right, And if you're going to buy an ounce of
gold and it's four thousand dollars an ounce, you're probably
going to pay forty one or forty two hundred dollars
for it. So there's a spread there, and that spread
is much wider than a stock price spread. You know,
when you buy a big company like Amazon or Apple,
(29:29):
that spread is in the pennies maybe even fractions of
pennies between the bid and the ask. It's very tight
and very liquid market. Not so for those metals. So
that spread and the bid and ask is much much wider.
And you know, so you convert your part of your
(29:50):
IRA into gold, like the commercial say, right off the
top of the top of it, you might lose five
percent or more in the transaction cost of buying the gold.
Speaker 4 (30:00):
Sounds rough, actually, So it's just.
Speaker 5 (30:03):
Something that that it is. It pops up every couple
of years.
Speaker 3 (30:09):
I have this theory that kind of ties into it.
It always seems to go hand in hand with these
sort of prepping services. You know, can't trust the government.
Everything's getting ready to go to hell, you know, whatever
it like plays on like a certain kind of fear,
and I have this this feeling that really it's playing
(30:30):
on a fictionalized version.
Speaker 4 (30:33):
Of a post apocalyptic United States.
Speaker 3 (30:35):
But there's this assumption that if something happened, like if
you know, there was an EMP and suddenly all the electricity,
that suddenly gold would be massively valuable. Again, that would
be like the Old West that we were carrying around
leather satchels with gold pieces in it, and that's how
the economy would work. And I wonder what evidence there
is for that, because I just don't think that that
is how it would work. Information and resources would be
(30:57):
the key. And what is your average Joe want to
do with gold? You're not going to do anything with it?
Speaker 5 (31:01):
Well, it's very hard to you know, if if you're
going to trade with it, well, now everybody needs a scale, yeah, right.
Speaker 4 (31:09):
And then what are you going to do? I mean,
what's the value of it?
Speaker 5 (31:12):
It's very very difficult.
Speaker 3 (31:13):
But so I don't I think that there's this this
thought that's like you know that, Hey, you know, if
if everything goes to hell, I'm going to carry around
my gold and you know, some old caudure is going
to bite into him like, oh sure, here's your milk partner.
I don't think that's going to be how it happens.
If it happens that way, I.
Speaker 5 (31:26):
Think if we break down that far, yeah, that would
not be the ideal way to do it. I'll tell
you what, you know. Since COVID, I will admit I've
got a few extra packs of toilet paper in the.
Speaker 4 (31:37):
House as good as at one time.
Speaker 5 (31:41):
That's about as far as I'm prepping here.
Speaker 4 (31:44):
I think that we just started buying in balks.
Speaker 3 (31:46):
We always have a lot of toilet paper because we
just just this is the way it is now, because
we found a way to do so in bulk. You know,
there's all of different avenues that you can approach this
discussion when it comes to being a good steward of
your financial future, and there's a lot of different reasons
you may need to be. You could be you know,
you could be a single person out there that doesn't
have a massive family to worry about. That also means
you might not have massive family to help you when
(32:06):
you get to that retirement. That means you need to
be even more independent. You need help getting into retirement.
Prince isn't always going to show up, that's right. They're
always going to help you do those things. If you
maybe you do have a big expansive family. That's another
reason you need to make sure you have all these
things put into order. Make sure you have your state
planning in order as well. I mean, there's all of
these things work in concert with each other. They're all
(32:27):
part of a living organism when it comes to your
financial future about living with your retirement, on how to
retire right, all these things one feeds into the other,
and you can't just take one vein of it and
hope that it works out. So you really have to
be aware of all of these different aspects as you
approach any as any point in your life, but always
looking forward to at some point in time if things
(32:47):
go well, you're gonna have to retire and you're gonna
have to figure out a way to.
Speaker 4 (32:50):
Make it work.
Speaker 5 (32:50):
Absolutely, you have to do that for yourself. That's an
individual decisions that gets you to where you need to be.
All of these things that we hear every day on
the news. It's it's truly noise. It's noise. You control
the outcome by your actions, and you know that I
(33:11):
believe is certainly a valuable service that I can offer.
That is, Okay, let's sit down and focus on you.
Let's not worry about the president. Let's not worry about
Let's talk about you and what's important to you. What
do you want to achieve, and then we'll build a
(33:31):
plan around that. Because the things you're worried about today
by reading the news are going to be either the
same thing tomorrow or something new. There will never be
a day you turn on the TV or open up
the newspaper and it's empty. There will always be something.
(33:51):
And most of the things you're going to read about
because it's human natured and want to know what could happen?
What's the monster outside the cave? You know it's going
to be negative. That's just human nature. You know, people
worry about protecting themselves. That's how we survived as a species.
But that's not the best instinct to invest in. You know,
(34:17):
you have to have faith in a better tomorrow, which
historically is what has happened. You know, innovation, you know
the things that we can do today that didn't even
exist fifty years ago when gold was was you know,
at that price. I mean, look, that's why the market
grew so much. It's growth, it's expansion, it's the goods
(34:41):
and service. We all have more goods and services than
we ever had. It's just because we can produce so
much more efficiently. And that's what the market does, and
that's what you're investing in. And you know the only
reason that would stop is if we all as a
society just say Okay, we're done, We're done solving problems,
(35:04):
We're done trying to do better. I just don't think
that's going to happen.
Speaker 3 (35:09):
And when you look back at all the different eras,
and you don't even have to look at it from
pure financial sense, but when you look at I mean
from the time that of the Right Brothers in Kitty Hawk,
North Carolina to when we went on to the Moon,
I mean you were talking like just over sixty years,
you know, I mean the amount of industry that was
created in that time, the amount of money that was made.
(35:30):
And I don't mean that from a capitalist I mean sure,
from a capitalist standpoint, but that was a product of
a country growing and people doing the things to make
a country grow and bringing everybody along with it. Now,
the what we've seen since that time has been so
much more on sciences that not only have to do
a space and then medicine and different things like that.
(35:50):
I mean, again, it's it's the country growing and doing things.
It's been amazing when you look at the just like
this one hundred years. Yeah, it's a one hundred year history.
It's incredible the amount of industry that we've put together.
Speaker 5 (36:02):
I mean, you can read the articles that are doomed
about our food and the quality of this and obesity
and all that. You know, that's fun. But you know,
people are living longer, you know, all along the way.
You know, we've added thirty percent to our lives, you know,
in the last fifty years, sixty years. I mean, that's
that's incredible. That's incredible, and that's what you're investing in.
Speaker 3 (36:25):
I think it's hugely optimistic when you look at it
from a large scale and even just from the course
of the different periods of your lifetime, your early life,
in late life. I mean I get to observe these
things even as a fifty one year old, and I mean,
it seems to always work out, you know. I mean
there should be great confidence, and it really is an
(36:47):
inspiring story. When you think about things from a broad
stand ways, you think about something like the space race.
Are we now in space three point zero? I mean,
I think we kind of went past two point oh already.
My good buddy Rod Powell wrote a bunch of books
on space two point oh. I think we're in three
point oh already. There's industry there that's going to be
created that's like this combination of rockets and AI you know.
I mean it's a really pretty exciting time for things.
Speaker 5 (37:08):
Yeah, and things will continue to change. I mean, you know,
five ten years from now, will people be driving cars?
Will there will there be drivers.
Speaker 3 (37:16):
Let's not go get on the Jetson's cars again, man,
that's already.
Speaker 5 (37:19):
They're gonna fly, but they may drive themselves. You know that.
You can already see that happening. And if you think
about that, the impact economically of that could be tremendous.
You know. It's it's just I don't know, I don't
know if that will come true or not. But the
opportunity is always there for things that happen and change
(37:43):
the way we live.
Speaker 3 (37:44):
I think is greatly optimistic. And I'm also optimistic since
I think Jim Carrey is coming out in a Jetson's
movie in a couple of years. Maybe that maybe that's
a foreshadowing to actually our flying cars. Those flying cars. Yeah,
I don't think so. I don't think i'd want one, either,
John or dat. For fourth Avenue Financial, let me get
the information out to you want one more time for
Avenue Financial dot Com. You spell out the whole thing
or like it on Facebook. Fourth Avenue Financial dot Com
(38:04):
located at one seventy Court Street, downtown Charleston, right across
from the Town Center Mall seven four six seven non
seven seven three zero four seven four six seven non
seven seven three zero four seven four six seven non
seven seven John, see you back here next week. All right,
take care, Thanks a bunch. I appreciate that. Dave Allan
is coming up next on five eighty Live. I'll be
back this afternoon at three o'clock with Dave weekly on hotline.
Have a great day everyone on five ADW CHS The Voice.
Speaker 4 (38:27):
Of Charleston.
Speaker 2 (38:31):
W c hs AI W two four three d r
F M Charleston W two eight three HU Cross Lanes
at WVRC Media Station. We're proud to live here too,
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