Let's Talk Money

where every part of the relationship is transparent. We manage our clients' assets by fee only and do not sell investments. We have no conflict of interest. Learn more by visiting their website Bouche dot com. That's bou Cch e y hi dot com. Listen to Steve's weekly commentary on WGY Mornings with Doug Goudie every Wednesday morning at six fifty am. Tune in every Saturday at ten am. And Sundays at

eight am for let's talk money. Have you come into sudden money because of life insurance proceeds, divorce, retirement, lump sum payout or did you hit the lottery? If so, do you know what to do? Call in now with any questions pertaining to your financial future. One eight hundred talk WGY. That's one eight hundred eight two, five, five, nine, four nine. Here is WGY's financial analyst, Steven Bouche or one of his capable colleagues.

the world to me. As I say so often, I get energized coming in to do the show. It never gets old. I've been doing the show. We're coming up to our thirtieth year, and when I tell you it just you know, puts a smile on my face and energizes me. It truly does to help you the listening audience, and I know I have a lot of clients that listen as well. It's like a weekly newsletter for them.

For everybody else, it's hopefully getting you some information pointing in you in the right direction, giving you things to help get you to retirement, because you get one opportunity to retire, and if you don't, if you're not prepared, you can't go back and make up for all those

decades of working and not saving enough money. Remember when you're working, you really, truly, somehow, some way need to be saving money in order to build up a nest egg, because when you retire, you're going to be drawn on that nest egg to subsidize your social security earnings and give you the quality of life that you want. And everybody's quality of life is different. Some people require less, some people require more. Each and every one of you

listening it's different. But the key is to plan for it and be ready so that if you know if your magic age is sixty, sixty five, seventy, whatever it is. You are prepared and you can retire, and you deserve to retire. Life is short. I found that out this year, folks. Life is short. And planning for tomorrow. I like to say often, and I teach my colleagues in the office this, our job is really to plan for tomorrow. Is you know,

we believe in financial planning. We do a lot of financial planning for a lot of our clients, and we always plan out. Mostly most people are saving for retirement. That's usually the number one goal that we're trying to achieve. Now there's other goals. It could be college funding, it could be charitable request, it could be a host of other goals along the way. But the one goal that is a staple is planning for retirement. And you really

truly need to plan for retirement. So I like to say to my colleagues, our job is to plan for tomorrow. But it's also our job to remind our clients they need to live today as well, because sometimes tomorrow just doesn't come. As I know, it just doesn't come, and it's important that you truly keep that in mind so you don't want to be kind of silly or foolish about not being prepared for tomorrow, for retirement. But as I said, you need to you need to slow down,

smell the roses, and enjoy today. So if you have any questions, any questions whatsoever, folks, give me a call. I would love love to talk with you, love to get your pointed in the right direction, whether it's on your investments, whether it's on planning, life insurance, whatever it may be. The phone lines are open one eight hundred talk WGY one eight hundred eight two five four nine one eight hundred eighty five fifty nine forty nine. Give me a call. Let's get started planning for your future

and get your pointed in the right direction. As I said, any questions whatsoever. It's not often that I get stumped on the show over the last thirty years, but every once in a while I do. But if you have anything pertaining to your situation, let's talk about it. You know, I'm not a big believer of the Noudies, So you know a lot of people are being sold the nudies

and the wrong way. I'm not listen. I may not believe in the Noudies, but I'm not going to sit here and say that there's never a time or a place for anudies. There are, there's always exceptions, but for the most part, people shouldn't be buying annudies the way they are, especially in their I arrays retirement accounts. It's just an expensive way to save money, and you can can do so many other things without paying the insurance

companies and the insurance agents selling the notes. You don't need to be paying them all the high commissions that you're paying that. There's just different things you can do one eight hundred eighty two five, five, nine, four nine, Any questions whatsoever. So I'm actually looking at our website, and I'm not sure if if my colleagues mentioned this or not, but Ryan and Paula did a third quarter

market update and it's up on our website. If you go to our homepage Bluesheit dot com, all the way at the bottom, you'll see the Q three twenty twenty four market update. It's well worth, well worth the thirty minutes to listen. Now wait till nine o'clock. Don't don't go tuning in now. Hopefully you'll stay with me, but after nine, if you have time, it would be really

worth your while to take a look at that. We offer webinar just about every month for our clients, and as they said, this month it's it's the market update, which we do each quarter, and it's well worth well worth your time to listen. I can't stress enough the quality the information that Ryan and Pollo have, the work that they put into it. It's just well well worth your time to take a look at it. One eight

two five fifty nine forty nine. So as I said, it's the end of October, the holidays are coming up. I saw something in this week's Barn's where you know, holiday sales expect to be good, but online sales expect to be through the root online is we are doing so much more online shopping. It's it's kind of crazy. It's staggering almost the numbers. Steve just how it every year just gets stronger and stronger. One eight eighty five five nine four nine. Let's go to the phone lines.

We have Paul in Boston, SPA.

but we have to enjoy today. We need to slow down, smell the roses. Life is short. So Paul, thank you for those comments.

York State taxes for the year. But it's run by Vanguard, and it's the only one really sponsored in New York State, and it's one of the best ones in the country. There's a lot of five twenty nine savings plans out there, a lot of advisors sell mutual funds with commissions on it. But you don't need to. This is no load. It's easy. You go to nysaves dot org. You can open up an account and you can put money away. You should encourage you know.

beautiful thing and there's no downside. And why saves dot org Paul, It's I don't even I don't even think twice about it, all right.

invested in the stock market. Your grandson should absolutely be one hundred percent invested in the stock market. Let time do what time does best, and that's bring great profits for stock investors. Best way to go, Paul, great question. Thank you for calling in. You'd be well, stay healthy, okay, and I appreciate your comments. One eight hundred eight two five one eight eight two five five nine four nine. Let's go back to the phone lines we have Ron and Glenn's falls. Good morning, Ron.

basically a self directed one. They only deal with mutual funds and it's very very low fee because it's self funded. There's really a very very small amount of money that that's necessary. And they had one one fund that I

was wondering if you ever heard of it. It's called the Vanguard Growth and Income Admiral, and it basically it has very low operating expenses and it just has a small sixty dollars account maintenance for you know, for annually, and it's all no load, and they deal pretty much with the mirror the S and P five hundred, and investments are seemed to be on including basically a lot of the S and P five hundreds. And I was wondering if you ever heard of it before.

year to date twenty five percent. It's outperforming the.

those ten stocks, and those are good ten stocks. You got obviously a slant towards technology, got healthcare, in their energy, financial services, communication services. It's really well diversified, and Vanguard is one of the lowest costs. Always remember there's internal fees and every exchange traded fund, every annuity, every mutual fund, and understanding those costs is important, and Vanguard in the industry is one of the lowest costs. So no, this

is a great fund. Your daughter's lucky to have you ron, this is a great fun.

But you know, if if it's if it's a third party vendor and she has access to you know, investments like Vanguard, that's that's what she wants is to be invested in in you know, good good What am I trying to say? Good investments, good mutual funds, and Vanguard is is one of the best if I if I were to guess, you know, as I said, I'm trying to see if I can pull anything up and and I'm really not. I think I think they may be part of Ameror Prize. But if it's a if it's

self directed, it's so much better than those nodies. Tell her, tell her that's the way to go.

is really the top of the line for Vanguard. It's the best share class. So I would tell her to go for that. I don't see any reason why not. Hey, Ron, great question. You be well, stay healthy.

many investment types. This comes from my dear friends, who are I know, are driving to New York City as they do every Sunday morning. So I appreciate you're giving me some more information on that, because I never heard of Aspire, but it could be in Spira and Ron and Glen's falls calls in every so often because his daughter was a novice with investing and we were able to get her pointed in the right direction, and she's made some money. What eight hundred eight two five fifty

nine forty nine. Give me a call if you have questions pertaining to your financial future. So, you know, the week kind of started out. It was kind of crazy Chinese stocks, you know up basically, you know, the promises of fiscal stimulus. Oil fell on reports that Israel would limit retaliation against Iran to military sites and I guess not, you know, not not invading other sites. And Israel's been going through a lot, as we know, the people of Israel are on edge twenty four to seven, you know,

as recently as yesterday with war at tax. You know, Israel is just you know, they they can never let their their their their guard down. That's that's for sure. So oil fell that we didn't have to worry about something more severe. NA video share spikee on news at the most recent chip is in full production. And I'm telling you, folks, I talk about this every so often. If you haven't played around with artificial intelligence, try it.

Give it a shot. You know, there's there's free programs and programs that you can pay a monthly fee for. And Honky I got to wet my whistle. Let me take a fifteen second break, tom.

get good questions. I started to talk about the week in the markets, So, Navidia, you know, artificial intelligence, if you haven't played around with it, play around with it, it's really scary in a way. Think of it like this way, as Polo explained to me. Google, you put in something, you search for something, you're going to get ten websites to click on. Artificial intelligence, you put something in, you search for something or ask for advice, and it

actually gives you, gives you the answers. That's the easiest way for me to explain it, and that's me being a novice with artificial intelligence. Chip Stocks, you know, is as cool as it is that the video has got to you know, they're they're there, their most latest greatest chip in full production. You had warnings from ASML about slowing orders for its chip making machinery, so chip stocks

actually didn't had the greatest week. Then you had later in the week China's third quarter growth just wasn't what it was supposed to be. And then you know, for the week, you had the dal Jones hitting on all time high, the s and P an all time high, the dial up one percent, the SMP up point eight five percent, and nansin composite up point eight percent. So

another good week in the markets, folks. It's just great to see you're listening to Let's Talk Money, brought to you by Bouschef and Andrew, where we help our clients prioritize their health while we manage their wealth for life. The phone lines are open. I would love to talk to you. We're going to take a quick break for the news. One eight hundred eight two five five nine four nine one eight hundred eighty two five fifty nine forty nine. I'll see you in a quick minute.

connection with a shooting last month in Menan's. Prosecutors alleged twenty four year old Zachaius Cancer shot a thirty five year old man September seventh on Broadway near exit six on I seven eighty seven. The victim suffered non life threatening injuries. Cancer was arraigned in Albany County Court on charges of attempted murder, attempted assault, and criminal possession of a weapon and illegal drug possession. He's due back in

court on November twenty second. Albany police continue to investigate a shooting early yesterday morning that left a twenty year old man with a gunshot wound to the abdomen and in stable condition at a hospital. Police say it happened on Madison Avenue near Ontario Street and might have involved two people who were shooting at each other. State and City University of New York College application fees will be

waived for New York students starting tomorrow. Governor Kathy Hochel says over fifty private colleges and universities throughout New York State will also offer free application opportunities for high school seniors during New York State Collage Application Month. This is a second year of the fees are being waived. To apply. Go to h ESC dot NY dot gov. And Traffic on the Erie End Champlain Canals in twenty twenty four was about average, says Canal Corporation Executive Director Brian Stratton.

He told News ten ABC that activity on the waterways will now focus on winterrizing them. Chad ericson WGY News.

To schedule a complimentary in person or virtual consultation where we will analyze your financial well being, Please call our client concierge at five one eight seven two zero thirty three thirty three. That's five one eight seven two zero thirty three thirty three. Stephen Bouchet has surrounded himself with twenty talented professionals, including seven certified financial planners, four CPAs, two IRS, enrolled agents, one accredited investment fiduciary, one certified

divorce financial analyst, one certified private wealth advisor. Now this is expertise you can trust. Thank you for staying with us through the news. The phone lines are open one eight hundred talk WGY. That's one eight hundred eight two five, five nine four nine, And without any further ado, here is WGY's financial analyst, Steven Bouche, or one of his capable colleagues.

Everything's been pretty spectacular, stunning in so many ways. So I can't thank you enough for taking time out on a Sunday morning to tune in the fault. Mindes are open if you have any questions, I'd love to talk to you. One eight hundred eight two five five nine four nine one eight hundred eighty two five fifty nine forty nine So and at the bottom of the hour before the news break, saying how the Dow, the S and P all time ries, you know, great run in

the stock markets. The S and P up point eight five percent, NASDACK Composite up point eight percent for the week. QQQ because when you buy QQQ, you're not buying the entire composite. You're buying the one hundred largest companies that was only up point two six percent. And I think because as I mentioned on the first half of the show, chip stocks, you know, not all areas of technology did well,

so QQQ lag. But when you look you're today, folks, I'm telling you you got the Nasdaq composite and S and P both up twenty three percent. That's you know, I'm telling you, And I said it on the first half of the show with with Ron or I think both with with Ron and Paul, because they both have long you know, young grandchild, young daughter, They're they're helping set up investments for and over time. Believe me, is a volatile because I'm not going to say risky, because

risk can be defined in many ways. Let's just call it volatility. When you see stocks go up and down, up and down, up and down every day, that's volatility. That's not risk. Over time, your greatest returns have come from that stock market going up and down, up and down, up and down every day. And I point that out. And I'm not here to push stocks over bonds, over cash, over commodities or real estate. You know, those are the

popular asset classes. I'm just not just not it's it's I keep giving this fifteen year statistic, fourteen percent year in year out. With all the bad news that we've had over the last fifteen years, the average return in the S and P five hundred index is fifty I'm sorry, fourteen percent over the last fifteen years. QQQ nineteen percent over the last fifteen years. And then when you look at the bond indecks, the I share aggregate bond indecks two point four percent year in year out. So that's

why I say look at risk in different ways. I'm not here to push stocks over bonds. I'm really not. Everybody has to have a tolerance for risk, a comfort level for risk. I know that I've mentored my colleagues to educate our clients that over time, stocks have been the best performing as a class over time. And yes, you're going to get some times when you may scratch your head and ask yourself why am I invested in stocks? And you forget that over time stocks have rewarded you.

But short term it could be a day, a week, a month, and sometimes a year. Listen, you know over the last ten years, you lost money in twenty eighteen, lost money in was twenty two, So there were two years over the last ten years where you had down years. All the other years, you know, even your ten year average is up fourteen percent year in year out. That's average. And remember I give this statistic out often. The average swing peaked to trop high to low in the stock

market is about fourteen percent. And I just point that out because if you're a stock investor, and I know, thank god, in sixteen short days, will will We'll have this political silly season behind us. It's just sickening in some ways, you know, every day, but it'll be behind us in sixteen short days. But we may get more volatility depending on who wins. Remember, no matter who wins, the stock market really focuses on the fundamentals of the economy, jobs, inflation, growth, GDP.

It puts that all together. Whoever's in the White House sitting in that office, you know, you may like him or her, you may not like him or her, but they you know, it is what it is. And Ryan, I think, is doing a white paper on this. He didn't win the last presidential election. You know, it really doesn't matter when it comes to the stock market. And sure we may have some volatility. Investors may may not

like the outcome. They may, you know, do whatever they do, but that'll be short term and you know, over time, over time, listen, the stock market has been a beautiful place to be invested. And that's why, you know, all of my core investments are invested in the stock market, and I'm not afraid of it. When the stock market goes down, I don't look. And this is why anybody who needs money over the next twelve twenty four months. That money should not be invested in the stock market

piece you can't risk losing it. Going back to our first call or Paul about the college savings plans. If you have money investing in the college savings plans, and I'm a big believer that when your children are younger or grandchildren, whoever you're saving for, you should be more aggressive than conservative. And as you get closer to that child or grandchild going to college, you should pull it back. When they're one, two years away, you should pull it back.

Don't take chances. Let's make believe they have one hundred thousand dollars saved up and you need that money the first listen, tuitions today are just crazy, right, So I don't care whatever you need thirty forty, fifty, sixty seventy eighty thousand dollars depending on where they go to school, if you need that, So you have one hundred thousand dollars saved that the market goes down twenty percent all

of a sudden, now you're eight. One hundred thousand dollars is worth eighty thousand dollars, and you may need that money, the first tranch of it on this coming August. So you can't. You can't take risks. Even though I do believe stocks is an asked class over time has been a good place to be invested. Short term. You got to be smart, you can't be greedy. One eight hundred eighty two five five nine four nine one eight hundred eighty two five fifty nine forty nine. If you have

any questions, any questions whatsoever, love to talk to you. So. An interesting statistic in the Barons this week the average selling price of a three year old electric vehicle twenty five percent drop from the start of twenty twenty three. Twenty eight thousand is the average price. You can go out and buy an EV right now and get it for a whole lot less than you could just the year ago, almost two years ago. Listen, I have an

EV vehicle, and I'm not going to mince words. It's a pain right in the neck having to plug it in. And if, by chance you're you're not able to plug it in and you're running low. It's not like a gas station where you can pull, you know, into a gas station. Almost on every corner with these charging stations, you know, one you hope they're working. Two you wonder how many people are in front of you charging cars. And when I hear about us going all electric, listen,

let's not get crazy, folks. There's just no way this country can go all electric. I said it. I put it out there as an owner of an EV vehicle. There's just no way this country can go all elect electric in any Any politician who says that that's the future, you know, they really need to rethink this because the

electrical grid in itself can't support it. And when you look at what it takes to make a battery for these cars, you know, if you think you're saving on the economy and you're doing good things, you may rethink it. But it is a pain in the net charging your cars. Now, if you just got short term trips and you park your car and the comfort of your own garage, and you have a charging station in your garage, and then that's that's great. I can't imagine taking my electric vehicle

on a trip anywhere. Just can't can't imagine, you know, breaking down in the in the mountains and hills of Vermont because I ran out of juice and where am I going to find a charging station? So h it was just an interesting statistic that that, you know, the average selling price of a three year old electric vehicles down twenty five percent. I found that to be interesting. We got earning season kicks into high gear this week. You got a lot of companies and technology, industrial, telecom,

pharma sectors that'll be announcing results beginning Monday. I know that financials so far have have looked pretty promising, which is nice. The financial company, I mean, Goldman Sachs unbelievable. You had Netflix that came out with theirs, I mean, just record high. It's amazing. And don't laugh at me, folks. You know, I got a lot of downtime and I'm by myself, as you know, so I've been looking for things to watch. And my favorite movie of all time

is The Godfather. Godfather one, Godfather two, Godfather three, Yet each one is different, but I just love the god Thought. It just just love it. I love those those those type of films. And I don't don't laugh at me. I've I've never I've never watched The Sopranos, so I find myself I'm on season two. I little dated, right When when was the Sopranos in in in fashion? A long time ago? But I'm I'm in season two watching the Sopranos. That that keeps me busy at night, and

it's you know, it's an interesting series to say. To say the least, I forget how many seasons there are. I think I have quite some time before i'll finish it, so I guess I won't be bored for a while. I guess I'm watching it on Max, not Netflix, but you know, these these streaming services are popular. Netflix had one heck of a week with with their you know,

their their results in their outlook. One eight hundred eight two five five nine four nine one eight hundred eighty two five nine Give me a call with any questions that you have. I would love to talk to you. Love to talk to you. We talk a lot about inflation. And as I said, sixteen sixteen days, will have our presidential election on November sixth, and guess what else is going on? On November sixth. The Fed meets for their

next meeting November sixth, November seventh. Now, the good news is they won't come out with what they plan on doing until Wednesday the seventh, the day after election day, and more than likely they they they will cut it again and probably won't be a robust point five to zero cut like they had at their last meeting. It'll probably be a zero point twenty five twenty five to fifth cut. And as I said, it'll be the day after election. So that's that's good news. And listen, inflation

has has come down. I'll listen from a couple of years ago, folks, from nine point one to you know, depending on whether you look at at inflation as a whole or the core somewhere between let's say two and you know, the low twos to the low threes, All right, inflation is stuck somewhere between there. But but but there's always a butt, right, But the high price of goods and services. You know, listen, folks are not feeling it. They're not feeling it in the grocery store. I know that.

You know, since since twenty twenty one, food inflation is still up twenty two percent. Twenty two percent. That means if you spend one hundred dollars a week in the grocery store, you're spending almost one hundred and twenty five dollars a week in the grocery store. Eggs are up eighty seven percent. This is a staple or was a staple. Then you got stuff like a lot of insurance up

forty seven percent. And even though gasoline has come down, folks, let's let's not forget gasoline is still up sixteen percent. Those things alone, just about everybody, just about everybody is

affected by those things alone. So even though the highlighted headline inflation numbers between two and three percent, the low twos to the low threes, you know, the inflation for necessities, the cost that that consumers are paying is still pretty robust, and that means they have less money in their pocket. We also were starting to see credit that delinquency inching up a little bit, up to just about two point seven four percent the highest and almost twenty i'm sorry,

twelve years the highest, almost twelve years. So it'll be interesting to see what happens when the Fed comes out on Wednesday, November seventh, somewhere around two o'clock in the afternoon. It's it's jerme power will come out and let us know whether they they paused left interest rates alone, whether they cut interest rates, whether they raise interest rates. I

don't think they're raising interest rates more than likely. They'll cut interest rates more than likely byzero point two five percent, So that'll be in in I guess seventeen days. We'll we'll we'll see what what the Fed does, and all eyes will be on that. So between the election on Tuesday the sixth and the Fed announcing their their interest rate latest interest rate guidance on the seventh, you may

see some volatility in the markets. As I said, forget about it, don't don't don't, don't get spooked out of the markets. Don't don't have that knee jerk reaction, don't do anything crazy. Actually, why markets are at all time highs. If you think you want to take risk off the table, now's the time to take risk off the table with you know, with dividends. The S and P is up about twenty four percent with dividends and all time highs. So if you wanted to take risk off the table,

now is the time to do that. If you want to build up a little cash fees, you need it over the next twelve to twenty four months, now's the time to do that as well. Take advantage of the markets being up. Now, listen, in a couple of weeks the markets may be up more, maybe they'll be down a little I don't know. I don't have a crystal ball. I do know that whatever happens, it'll happen, and no matter what happens, the market will recover. And as I say so often, the markets will go back to make

new all time highs. That's how long term investors have to think. The market always goes back to make new all time highs. One eight hundred eight two five five nine four nine One eight hundred eight two five fifty nine forty nine. I'm gonna take a quick fifteen second break, Tom, give us a call one eight hundred eight two five five nine four nine with any questions that you have.

Tom Gozlowski in today is is my producer. And it's not often we get the presence of Tom. So when you hear me whispering to Tom, or Tom whispering to me, that's who I'm listening to. It's it's it's not Zach this morning, it's time. So Tom, thank you for helping today and all that good music and doing a great job. Eight five fifty nine forty nine. Give me a call with any questions you have. Let's go back to the phone lines we have Andrea in Upstate New York. Hello, Andrea, Hi,

how are you? Oh, I'm doing wonderful. How are you today?

didn't pick what we were in, she told. They replied telling me that the statement would come out in December December of twenty four, and I could get it in May of twenty five. How can that be if I want to take my money and move it. The statement I receive in May of twenty five only goes till December thirty first of twenty four. Don't they count for all the other Like, I'm confused on that.

that's what you're explaining. That's what your former employer has, so that gets valued every day. So you should, and you really should move that into an individual retirement account because one your money is left behind and you don't have any control over how it's managed, and there's internal management fees of pension plans, so basically you're subsidizing all of your former colleagues that you used to work with, and there's no reason for you to do that anymore.

So whenever people leave jobs, I always say, make it a point. One of the first things you do is let the business office know that you want to roll over your part of the plan. So you're you're you're right. Most pooled accounts get valued once a year and the statements. As as a participant, you have to get a statement and it'll be based on the year end. But you can you can let your business office know anytime that you want to roll that over to an IRA and

they'll value it. They'll cash you out, make a check payable to you know, Charles Schwab or whoever the custodian is. Put it into an IRA, count and if you're a longtime listener, call me back and I'll tell you how to get that invested.

really what we're trying to do. And we blend in some financial planning topics. Uh we we we really try to give our listening audience a lot to think about. Uh just you know, from from having their money properly invested the right mix stocks, the bonds to cash to commodities to real estate, those are the most popular asset classes. I sit here. I hate to say that we did not partake in the record price of gold twenty seven hundred and thirteen dollars an ounce almost twenty seven fourteen.

We did not take part in that. It's crazy. I don't know, you know, it just got by us. I never expected go to do what it is, and I can't believe we're coming up to the end of the show. You're talking. You're listening to Let's Talk Money, brought to you by Bouchef and Andrew, where we help our clients week.

To the extent that a listener has any questions regarding the applicability of any specific issue discussed to their individual situation, they are encouraged to consult with a professional advisor of their choice.