Let's Talk Money

properly some money this year. That's not a bad thing. There's years where you don't make money, maybe two years out of the past eleven, that's okay. I'll take making money nine out of eleven years all day long. Those are pretty good statistics, and that's what it's about. So thank you, folks for tuning in today. I can't thank you enough. You really make this show the premiere investment talk show on the airwaves, and I truly appreciate that.

I can't believe when I get the reports how many listeners are out there, and knowing that I'm trying my best to help each and every one of you, somehow someway at least give you something to think about, maybe confirm something that you're doing or working with an advisor that makes sense, that's good. Maybe I'm giving you something to think about where you need to go back to your advisor, or if you're doing it on your own, maybe you need to rethink the way you're doing it.

Whatever it is. I can't thank you enough for tuning in every week, every Saturday and Sunday. I'm telling you I love doing the show. I can't believe it's the end of the year. And if you have any questions today, any questions whatsoever, the phone lines are open one eight hundred talk WGY. That's one eight hundred, eight two five five nine four nine. As they said, it's been you know, it's the end of the year. I know that for me, it's been a long year for a lot of reasons.

And there's you know, you can't take life for granted, folks. Our tagline and the firm is health, Wealth for life. And I say to every client I say, listen, when you have your health, you have everything, you really do, You're blessed. If you're fortunate enough to have your loved one, your spouse, your partner, whoever may be that's by your side,

God's that's pretty good. You're pretty lucky. And if financially you can do things, don't mess around because you never know, in your health or you love one that may change. This year I found out the hard way that you know, my health and my wife, Sue, it all changed. My whole life changed this year, and it's been a long year. I'm getting back on my feet, a lot of a lot of hits, you know, since April first, I think that's when when I started, you know, being in New

York City and you know, losing Sue in May. It's been one of those years where there's a part of me not that I want to wish time away. But January first, you know, we kind of all kind of just reset. It's like we just wake up on New Year's Day and it's like, wow, a new year. And you know, twenty twenty four was a year that I'll never forget and a year that hasn't been too kind. So folks as you enter the new year, you're going to make some New Year's resolutions. I truly hope that

everything you know works out your way. You know, as I said, taking care of your health is so important, and making sure that you enjoy every day you have with your loved ones is equally as important. Both of those combined together. If you have both of those, you're a rich person. You are so fortunate in so many ways. And when we when we do our New Year's resolutions, we you know, I forget the statistics. I just heard

the statistics. It's it's funny. A lot of the New Year's resolutions that we make, you know, sometimes they don't last a day. But the percentage is so low of how many people really followed through throughout the year of keeping their their New Year's resolutions and doing them. But there are some things you're going to do. I'll give

you a few things to think about. But if you have any questions, give me a you know, please cut in, Zach and I would love to talk to you one eight hundred eighty two five five nine four nine any questions whatsoever. So you know, when it comes to your taxes, and listen, who likes to pay taxes. Nobody really likes to pay taxes. The key is, you know, unfortunately not everybody pays taxes. But for those of us that work and do pay taxes, you you know, you want to

pay as little in taxes as you need to. You know, the tax code is there for you to take advantage of. And as long as listen, there's black and white, and there's a lot of gray in between. I guess that black and white. If you were to blend black and white together, you're gonna get a lot of gray in between. But as long as you're within the black and white, as long as you're doing everything legitimately and being as compliant as you can be with the irs, you shouldn't

have any problems. But there's a lot of things that you can do and should do. You know, one of the things is avoid underpayment penalties. Basically, you know, we we we know. Interest rates are up. I talked yesterday a lot about the US ten year treasury being over four point six percent four point sixty three to be exact,

and that's pretty good. I mean, we've seen a swing of just over five tow as low as three point five percent, all within a short period of time, and here we are creeping back up towards five percent, which I'm pretty excited about. I'm you know, I'm for the fixed in comeportion of one's portfolio. Bonds at this rate are pretty good. I wouldn't mess around wait till they go to five percent. They could go to five percent.

I don't know if the US ten year treasury goes to five percent, load up, because that's that's that's pretty good. But right now we're pretty close enough to five percent where you don't want to get greedy because it could go down as well. Listen, the FED has been cutting rates since September. We've cut a full percentage point. We had one point five to zero percent and two point twenty five percent cuts after eleven hikes over the last few years. So now interest rates are coming you know,

it's like a canal. You know, the the boats go in, they raise the water, they go a little bit farther, they raise the water. Now now the water you know, now the boats are going down there on the other side. Interest rates are coming down. And there I'm pretty sure. I can't sit here and say I guarantee it, because with the FED you can't make too many guarantees. They say one thing, do another. That's because they're looking at data.

Not that they're trying to be wrong, but they're so data and you know dependent that when they look at all the information and they put it together, they make a decision on which way interest rates should go. Right now, when they came out last week and cut interest rates another quarter of a point, they said that we'll probably only have two cuts in twenty twenty five. Now, in September they said there was probably going to be four

cuts in twenty twenty five. So you just don't know what the belief between now and over the next few months. We'll see just how many you know, how the economy looks inflation. They're fixated on inflation, and if inflation looks like it's coming down, there won't be as many cuts.

If inflation is still rearing its ugly head, if it's being stubborn and just you know, not coming down to the level that the Fed wants it to come down to, well you know you'll see them cut because the reason why the Fed cuts interest rates is to stimulate the economy. They want to get the economy going. If things are too expensive, they want to make it less expensive, whether it be borrowing a home, buying a car, whatever it

may be. The FED wants to make sure that the consumer can live their life, go out and spend some money. The consumer makes up two thirds of the economy. The consumer is very important to the economy overall. So the FED is really they want to make sure inflation is in check. Now, Why the FED has a target rate of two percent, I still don't know. If you look over the last ninety years, fifty years, inflation has ranged between three and four percent, three point four two if

I were to be exact. So they got spoiled since the Great Recession of two thousand and seven through two thousand and nine, they got spoiled because you know, inflation was nonexistent. So I think the FED got it in their head that that's the new norm. Now I'm not sure if that's the new norm or not.

that's the news on Wednesday. So anyway, higher interest rates, it's a long definition of higher interest rates. The penalty on income tax under payments is now about eight percent for most of twenty twenty four. I think it's slipped down to about seven percent, and that compares with three percent a few years ago. To avoid these charges, you know, Americans must pay at least ninety percent of what they

owe well before the April deadline. The deadline is, you know, December thirty first, for employees and others who have taxes withheld. It's January fifteenth for filers paying quarterly estimated taxes. Taxpayers can avoid this penalty by paying an amount equal to either one hundred or one hundred ten percent of their twenty twenty three taxes or ninety percent of what they think they'll low in twenty twenty four. And if you underpay that, that's a pretty steep seven eight percent is

a pretty steep penalty. So for those of you that are paying taxes, make sure that you have you know, good handle on that, and you know, remember income tax. The US tax rate is progressive. The higher income tax that higher rates. As a result, a taxpayer with a top tax rate of twenty four percent, they also will have income tax to ten percent, twelve percent, twenty two

percent under the current law. So a filer's top rate, which is also called the marginal rate, is the one that applies to the last dollars of income, the last dollar that you make. That'll be the marginal rate. Now, the marginal rate isn't the rate that you pay on every dollar of income, so it's going to be blended out just you know, when when when you hear people talk about the highest rate that you're paying, you're not

paying that highest tax rate from dollar one. You're only paying it really on the last dollars that you earned. The other thing that taxpayers need to be cautious about is doing backdoor wroth iras we do backdoor wroth irays for clients that it makes sense. Now, remember you can put seven thousand dollars away if you're fifty year older this year in twenty twenty four, you can put eight thousand dollars away into a traditional liarra or a wroth ira.

The difference between the two traditional liarra you get a tax break, wroth ira you don't get a tax break. But when that money grows and they both grow tax deferred, which is a beautiful thing. So you're not paying tax

on that money as it's making money for you. And when you can get the retirement age and you start taking money out with the traditional liarray because you got that tax break long long, long ago, you're going to pay tax on that money when you take it out with the wroth ira because you didn't pay taxes on that money when you deposit it. When you take it out,

it's tax free. It's a beautiful thing. I always say, if you're maxing out your four O one K or your four oh three B or your simple ira at work and you still qualify for a roth ira, load up that rough ira. Folks, somehow, some find a way of loading up that roth ira. Have the money come out each month, right out of your checking account. You won't miss it. Maybe you'll miss the first month or two, but after a while you'll get used to it. It's

like that gym membership. How many New Year's resolutions are going to be made that they're going to go to, you know, whatever your favorite gym is and pay nine to ninety nine a month, and all of a sudden, you go for the month of January and that's the last month you make it, and you have that nine ninety nine a month coming out of your checking account month in, month out because you forget about it. Same thing with a roth ira or even a traditional ira,

have that money come out of your checking account. I promise you after a while you won't. You won't miss it. You gotta, really, you know, put some thought into how much you're saving for retirement. I said it yesterday. If you're not saving ten percent, Vanguard so many companies have done so many surveys and research on how much money do workers need to put away, and it's somewhere between ten and fifteen percent. If you're not putting ten to

fifteen percent away, you're not putting away enough. If you haven't done some really good financial planning. If you haven't done your homework, then you need to be putting it probably at least ten percent away, folks. I know, I know that sounds like an astronomical figure, but think of it this way. Go into work on you know, Thursday, January second, and tell the business office that you want to up your contributions to your pension plan to ten

percent at the very least. If you have a company match. In a lot of for oman keys, there's a match up to you know, three four, five, six percent. If you're not at least putting that money away, you're losing out on free money. Because a match is when the company puts money away, they match what you put away. And that's a beautiful thing. Yeah, the boss has given you an incentive to save for your retirement. Your boss

wants you to be able to retire. They want to feel good that you work for them for all those years and decades in some cases and you're able to retire. And that's why a lot of pension plans have these incentives. I know, for my firm, I have three different pension plans for my colleagues. Three. I'm so committed to them. I want them to work for me for a long time, and I want to be as good as I can

possibly be back to them. So I have three different pension plans that the firm puts away money for, and I'm proud of that. I want when it comes to retirement. I want my colleagues to be able to retire and to be able to have the quality of life that they were always dreaming about. I want them to be able to feel good about working for this firm. So I use pension plans. I mean, as I said, if I could have four pension plans, I would, but you know the most I could put into the firm is three.

So I have three pension plans right now for my colleagues where I'm putting the money away for them on their behalfs. So on Thursday morning, try to up what you're putting away. Now. Worst case scenario one, you're probably going to hate me the first few paychecks because you're going to have less money taking home. And that's okay. You made dislike me. You may say, why did I listen to Steve on the radio? And I promise you a couple things will happen if you stick to it.

Before long, all of a sudden, you're going to see the balance of your pension plan grow and grow nicely. You're going to feel good about that. Two Uncle Sam subsidizes. If you put away one hundred dollars, maybe you're paying twenty five thirty dollars less. Intact, Uncle Sam is giving you that subsidy, that incentive to put money away, because you're not taxed on that one hundred dollars, So that's

another incentive for putting money away. And I promise you, going back to being upset with me, you will be upset with me. And after a few paychecks, all of a sudden, you're gonna get used to not having that money in your pocket. And if that money's not in your pocket, guess what, you're not gonna be able to spend it. And after a while, you kind of budget and you get used to it, and after a while, maybe you won't be so upset with stebe B. Maybe you'll get used to having that money go into that

pension plan, because that's your money. The money you put in, whether you work at that company a month, a year, ten years, forty years, the money you put away is yours. Nobody can take that money from you. The key is to put it away, have an invested properly, had that money grow. Remember yesterday I gave the statistics if you've been invested over the last fifteen years, and there's been a lot of bad news over the last fifteen years,

a lot of reasons not to be invested. Your average return in bonds using the Core index two point twenty five percent year in, year out. Now that sounds good, right, two point twenty five percent. You know bonds, believe it or not. Over the last eleven years, bonds have been down more than stocks. If you look over the last eleven years, bonds have been down, you know, more more than stocks. But your average return year in year out

two point two five percent. If you had your money invested in the broad stock market let's call it the S and P five hundred index, your average return year in year out fourteen percent. Pretty good. And I'm gonna give QQQ man Stack one hundred index out only because that's one of our core holdings. Every single one of our clients own this. They own this as much as the broad stock market index. Your average return is just about nineteen percent year in, year out. And that's why

having a diversified portfolio makes sense. You don't want all your money and bonds now. You know, if you look over the last fifteen years, earning two percent a year compared to fourteen or nineteen percent a year, that's a huge difference. You work hard for your money. You want your money to work hard for you. That's the key. Having that comfort level, that mix of stocks, bonds, alternatives and cash that make you able to sleep at night without it making you a nervous wreck. That's the key

to investing, folks. And if you have that mix and you give time and let time do what time does best, that's bring pretty good returns, especially if you have a well diversified portfolio. So give it some thought. You know it's the twenty ninth. You have a couple of days. Before you know it, you'll be ringing the bell. I'll be in bed by by midnight on New York's Eve, but you may be still up. There was a day when I used to stay up. Not not any longer.

But when you ring in the new year, and believe me, ringing in the new year will feel good for a lot of people. It'll be a pretty good thing, folks. I'm gonna take a quick fifteen second break. The phone lines are open. Give me a call. One eight hundred eight two five five nine four nine one eight hundred eight two five fifty nine forty nine. Yeah, little jazzy sick on this Sunday morning. You know nothing wrong with that? Is there a little you know? Jazz it up?

phone lines are open. One eight hundred eight two five five nine four nine one eight hundred eight two five fifty nine forty nine. Any questions you have, folks, any questions whatsoever, Give me a call. I'll see you in a couple of quick minutes. Yes, Brad, why doing you well? Thank you Zach for this music and folks, thank you for hanging in through the news. I can't thank you enough for tuning in, especially early on a Sunday morning,

I drove down from Sarah Tooga. I'm sitting in my my historic downtown Troy office and it's I mean, I'm telling you, it's decorated for the holidays so nicely. And you know, whatever holiday you celebrate, Christmas, Hanukah, whatever holiday you celebrated, I hope it was a it was a happy and merry holiday. I hope you were able to enjoy it with your family and friends. Holidays mean so much, and I hope, I hope your holidays were beautiful in

many ways. But I drove down the historic downtown Troy and it was about thirty five, thirty six, thirty seven, thirty eight degrees depending on where I was, so I wasn't too nervous about the roads and black ice, and I guess it's going to get warmers that day goes on those listeners in Upstate New York. If you look outside, you know it's still a little damp out there. I think yesterday that dampness just kind of chilled it to the bone. But today, hopefully it'll get a little warm.

I think we're gonna have a few nice days this week. From here, I will be rushing over to Saint Anthony's Church, which is downtown. It's a church that I that I try to help out as much as I can. I've I've sent the electricians over to light it up like Times Square, so that you know, the priests would feel safe going in and out of the rectory no matter

what time of the day or night. I pay the habit landscape and flowers planted year round and keep Saint Francis looking good because I say a prayer in front of him. Every time I'm in Troy, I walk over and say my prayers. So I'm blessed in many ways, blessed in many ways. I still can't believe we're rounding out twenty twenty four though. We talked in the first half of the show about New Year's resolution, and I just want to round it out by saying, you know,

you never know. We all think we're going to live forever, and we all hope that we're going to live for a long time and be healthy enough to live for a long time. That doesn't always, that doesn't always happen, you know, I know My mom was thirty one when she passed. My dad was forty nine when he passed. I always believe them life insurance and if you're listening, especially if you have a family, what you don't want

to do. And believe me, some of you may have some of your friends calling you who are insurance agents trying to talk you into real expensive whole life or universal life policies that maybe you can't afford because the premiums are just so high for so little coverage. Remember if you die prematurely. Now, whatever your wishes are, everybody

is different. For me because I knew firsthand, you know, I wanted to make sure that Sue was well taken care of, that Sue had enough money to be able to take care of my children, you know, pay the mortgage, retire with the comfortable lifestyle. I didn't want her to

want for anything. So I had a considerable amount of life insurance on myself, and I also had life insurance on Sue because even though Sue worked part time, if if something ever happened to Sue, I knew I want to be able to work the sixty hours a week that I was working as I was, you know, starting this business, especially thirty five years ago. I knew that when when you start thinking about what your stay at home spouse does, it's at that spouse that stays at

home does so much. And I knew that if something happened to Sue one, I didn't want to have to come home and worry about doing the laundry, mowing, the law, doing any of that, you know. So my focus was if something happened to Sue. I just wanted to be able to focus on my children and not work as much. So I had insurance on Sue as well. I guess the point I'm trying to make as you enter twenty twenty five, I want you to think about your insurance

death benefits. How much insurance do you need if you have a family, If you don't have at least a million dollars of life insurance, I can almost assure you you don't have enough. Now you may sit there and say, holy cow, I have one hundred thousand dollars whole life policy that my best friend sold me, and you know it's costing me so much money. There's no way I could afford a million dollars. That's right. Whole life is what we call permanent insurance, and usually life insurance agents

sell it with the savings vehicle. They tell you that you can save up all this money. When you reach age sixty five, you're gonna be able to supplement your retirement. You're gonna be able to borrow money from your policy. You're gonna have all this great stuff with all this money. Well, folks, listen, if you knew you were gonna live to your sixty five, you wouldn't need all that life insurance. You buy life

insurance in case something happens to you tomorrow. You buy life insurance in case you don't make it to sixty five, especially if you have a family. And as I said, term insurance is the way to go. It's you're basically just paying for the cost of insurance. And folks, I hate this word, but it's cheap. When I say cheap, I mean cheap, dirt cheap. You can afford it. You can afford a million, two million dollars worth of death benefit coverage, especially if you're young. I can assure you

you can afford it. It's that cheap, boy, that's a dirty word, isn't it. Dirt cheap? So, if you have a family and you don't have enough death benefit. Remember it's not if you die, it's when you die. When you die, your loved one and family that you leave behind. If you left them stranded because you bought the wrong kind of insurance and you didn't buy enough death benefit, well they're going to be on some hard times and they may have to make some decisions that you may

not have wanted them to make. So my last thought, my Netlin, my last New Year's resolution thought to you is enter twenty twenty five. Believe me. You know, this year and most of my insurance I had one variable life insurance policy. Every other insurance policy I had was term insurance. And unfortunately, I learned this year about cashing in on those insurance policies when Sue passed away, and you know, it was like, you know, I hate it.

I hated getting those but you know, Sue, if she were a lot younger, that was the that was the reason we we had this insurance. And as I said, you can buy term insurance, and you can buy a ten year, twenty or thirty or forty year guaranteed premiums. You can afford it and make sure you have enough that benefit that you need there you go, folks. That's all I'm going to tell you about the new year and things to think about. I hope it helped you.

Now let's talk about what you want to talk about today. One eight hundred eight two five five nine four nine one eight hundred eighty two five fifty nine forty nine. Any questions, folks, any questions whatsoever. Give me a call. I would love, love, love to talk to you. So, you know, Friday, uh, kind of a Debbie Downer day on the markets. It was a short trading week. We had the markets closing at one o'clock on Christmas Eve.

They were closed all day obviously on Christmas. For New Year's Eve, they'll be open right till you know, normal hours, but they will be closed on New Year's Days. So this coming week we'll have another short trading week. Friday, even though it's the first Friday of the month, usually we get the first jobs report for the month of December, we won't be getting it this Friday because of you know, the holiday. They just won't have it prepared, so we'll

have to wait a week for December's jobs report. So, you know, markets, you know, basically low trading value due due to the holiday season, so many traders were off the magnificent seven heavyweights that have led much of this year's gains. You know, you got Apple on Navidia, at Tesla, Amazon, they were down on Friday. Shares of small companies, which tend to be sensitive to US interest rates and the

health of the economy, also fell. There were Rustle two thousand index down about one point six percent on Friday, all alone. Seven sectors of the S and P ended Friday lower, All all of them ended lower. You had you know, the major indexes you know on on on on Thursday. They barely budged, but all three were up for the week. All three were were up for the week.

The Dow up, you know, for for for for the week, the Dow was up about point three five percent, The S and P five hundred index was up about point six seven percent, Nasdaq Composite up point seven six percent, and QQQ the NASDAK one hundred composite up point eighty six percent. The laggard, the Russell two thousand small cap index, was up only point one zero percent one eight hundred eight two five five nine four nine. Let's go to the phone lines, where we have Greg and Jutica.

if you're born in nineteen sixty or later. You don't have to take your R and D until age seventy five. So the year you reach your required beginning age whenever that is, you can delay the first rm D until April first of the following year. That means that, let's make believe this year you had to take an R and D. You can wait till April first, but that means you're going to be taking two r and ds out next year, one for this year and one for

next year. The penalties it used to be fifty percent if you don't take out your rm D. Believe it or not, there's a penalty equal to twenty five percent of the amount not withdrawn. So you need to make sure that you know that that you take out your

r and ds for anybody listening. And you know, if you have ten I rays, you can take your R and D all out of just one I RA, but you have to add up the value of all your I rays your iras set simple iras you know for owen K's, whatever your pension plans are, you need to add up the balance and take out the R and D. So there you have it. So you have a few years before you have to worry about it. Greg, And as far as the compliment goes, you know, this is

two days in a row. Yesterday we had a client call in as well, and I can't Greg, thank you for calling in and thank you for the compliments. I'm proud of my colleagues. I've built the firm. We have twenty professionals that I'm surrounded by right now. It's just amazing. Uh When when when I think of the talent that I have at Bouchet Financial Group and our clients are real, real, real happy. So, Greg, I can't thank you enough for

throwing that compliment out. And you know, as I said yesterday, you know, man, this is like a commercial when clients call in. So I hope we're meeting your expectations. That's what I say to each and every client first and foremost, bottom line, I want to make sure that we're meeting our clients' expectations. That's all that matters. Greg, you have a great Sunday. Thank you for calling in. Enjoy the

holiday season. Happy New York to you, and thank you for putting your faith in trust in Bouchet Financial Group. I'm telling you, I love it when clients call in to you know, we have a lot of clients that that listen. I always say, this is like a newsletter for our clients. And if you want to learn more about the firm, you know, go to go to our website Bouche dot com, b O U C h e y dot com. We got a lot of good stuff up there, a lot of good stuff up there, you know,

ways to reduce taxes. Uh. We were just awarded the best places to Work for twenty twenty four by the Aubny Business Review. I forget how many years we've we've won that our colleagues have thought enough about us. There's there's webinars up there, and if you miss a show, you can you can you can catch past shows as well. Bouchet dot com one eight hundred eight two five five nine four nine one eight hundred eight two five fifty

nine forty nine. So, as I said, all the major indexes were up for the week, but Friday was you know, Thursday was kind of just a so so day and Friday was was a Debbie downer day. But you're today, folks, Listen, if you weren't scared out of the markets, if you know, if nobody told you, and believe me. Believe me, how many times do you hear from colleagues or brother in law at Sunday supper or a piece of advice? Do not try to swallow and talk at the same time. Zach,

thank you for picking up on me coughing. I apologize, folks, for coughing in your face. I could see the expression on your faces as I was coughing. There's nothing, nothing worse. Something went down the wrong pipe. Zach, thank you for thank you for being quick enough to do that. I was just just about ready to give you some good news. So if you weren't scared out of the markets, if you know whoever you think is the market guru, didn't it scary out of the markets? You made some money

this year, folks, you really made some money. The bond index is up about one percent. I talked yesterday, when you know, let's make believe a client's invested in our growth and income strategy sixty four portfolio, sixty percent stock, which we're fully invested. On the stock side, I'm very optimistic on the market. I think the stock market has the ways to go, and I'm optimistic. But on the

bond side, we don't have just forty percent bonds. We have some alternatives in there as well, so Ryan and Pollo and Ed and Dave and Casey my my investment team. You know, we use the premium equity of JP Morgan and you're to date that's up about thirteen to fourteen percent, and we have the S and P up here to

date about twenty seven percent with dividends. The NASDAK composite is up thirty two percent almost QQQ, which is when you buy NASDAC you're actually buying the one hundred largest companies. QQQ is the symbol that's up about twenty eight percent. So we've had a good year folks. You know, as I said, bonds only up one percent, but people have bonds in their portfolio because they feel that it softens the volatility. And it does, I guess in a way. But over time you make way more money in stocks.

And this is what I say. So often when there's a correction, everybody thinks that the market's going to zero, that the world's coming to an end. And guess what, the market hasn't gone to zero, and the world is still going around and around and around. And when there's stock market corrections, use those opportunities to reshuffle your portfolio. If you're underweight stocks, use a market correction to get in. When there's blood on the street, that's when investors can

make money. And when investors say to me, oh, I can't invest the market's at an all time high. Yeah, thank god, it's always at all time highs. And you know, we'll have corrections and bear markets here and there, and then all of a sudden, guess what, We're back to a new all time high. So if you have time on your side being invested and having a well diversified portfolio.

Not everybody's comfortable having one hundred percent stocks. I am, and I have a lot of clients that say, Steve, if you're invested that way, I want to be invested that way. And so we do have a lot of clients that are invested in the exact same way I am. I'm not ashamed to show clients how I'm invested and show them that I'm invested in the exact same investments they are. I just don't have bonds in my portfolio.

I love the stock market. Over time, when the stock market goes down, I don't panic, I don't really care. I don't look one eight hundred eighty two five five nine four nine. Let's go back to the phone mines. We have Chris in Vermont.

four point six three percent. If you've got a bond paying three point five, sell it in the IRA and just buy a new one in the in the wrath. Don't even think twice about it. That's the beauty about iras, you don't have any tax ramifications. Now, if you have a bond that's paying a real decent amount, well then then then that's different. But give it some thought before you do the in in kind. Sometimes it's just easier,

less messy to just transfer cash. There's no paper trail if you ever get ordered it, you don't have to worry about, you know, you transfer ten stocks or mutual funds or ETFs or bonds. It's just easier. Chris, thank you for the phone call. Let's go back to the phone lines. We have Tim in Cliffland Park. Hello, Tim Hik.

I love treasuries. I talked a lot about them yesterday, especially now you know we're approaching five percent on the ten year Treasury note and it's state tax free, so that means you're getting a little bit of a boost in the yield because you're not paying state tax on it. So take a look at that as well. Don't be don't be fixated just on not paying any tax in immuni bond. If if hooves you to, you know, buy buy another type bond. So that'll be my first question

to you. Now, you know, listen in New York's one of those states where you know, listen the money we pay in taxes in New York. I'm beside myself, no wonder so many people are moving out. I'm not surprised that you know they're down. That means the yield is probably up. So if you need to buy bonds, buying now while the yield is down, or I'm sorry, why the price of the bonds are down and the yield

is up. Is a good time, folks. We're coming up to the end of the show you're listening to Let's Talk Money, brought to you by Bouchet and Andrew, where we help our clients prioritize their health while we manage their wealth for life. I can't thank you enough for tuning in, folks, I really every week. I hope you have a happy new year, a safe new year. I thank you for tuning in. Go to our website to learn more about my colleagues and our firm, Bouchet dot Com.

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