WEBVTT 1 00:00:00.740 --> 00:00:02.020 1623****357: Well, but 2 00:00:02.860 --> 00:00:05.020 1623****357: yep, well, good afternoon. 3 00:00:05.690 --> 00:00:10.050 1623****357: and welcome to the Asu Retiree Association. 4 00:00:10.080 --> 00:00:32.349 1623****357: Sponsored event for preparing and getting ready for being where we want to be in the next year, or 6 months, or 10 years down the road. Lamente and I are always excited to to share this information with you, as we have been on the road to that direction for some time, and have found it very 5 00:00:32.659 --> 00:00:40.569 1623****357: helpful, as we're preparing and making sure we have all of our t's crossed and our eyes dotted when we get to that point. 6 00:00:40.690 --> 00:00:46.359 1623****357: So we want to thank you for all being here. The Retiree Association. We will. 7 00:00:46.640 --> 00:00:49.430 1623****357: We will post this recording 8 00:00:49.500 --> 00:01:03.409 1623****357: to our system, and Liz will be giving you the address, the location for that. And you know you're welcome to ask questions, and we'll respond to those as they come. If it's something that 9 00:01:03.420 --> 00:01:04.930 1623****357: Buck will be 10 00:01:05.342 --> 00:01:11.380 1623****357: covering in his presentation, he might wait till that, or stop and record right there. 11 00:01:11.680 --> 00:01:21.320 1623****357: We just want to thank you for joining and making a difference. Now, Buck is just one of our favorite presenters. He's been with us for years, and everybody give me a big 12 00:01:21.390 --> 00:01:35.510 1623****357: works up because Buck is a sun devil, and it's so wonderful that he's come back to help the university that got him started on this wonderful track of financial 13 00:01:35.690 --> 00:01:48.660 1623****357: support for other people. He has a lot of changes as we're now on a different way than we were during Covid and immediately after. So I'm just going to turn it over to Buck, and he's going to tell you about himself 14 00:01:48.680 --> 00:01:51.540 1623****357: and get this started. Thank you, Buck. 15 00:01:51.580 --> 00:01:56.605 Buck Bandura, CFP(R): Alright. Thank you, Trudy. And thank you, Liz, for for inviting me back again. 16 00:01:57.391 --> 00:02:15.318 Buck Bandura, CFP(R): My name is Buck Bandura. I am a certified financial planner. I graduated from Arizona State with the finance degree in 1,998. I went to Wall Street work for Solomon Smith, Barney, for 7 years there, and started my own company matrix wealth management. 17 00:02:15.670 --> 00:02:45.189 Buck Bandura, CFP(R): When I 1st got in the business I thought everybody wanted to be rich after a few years in the business, people needed financial planning. 101. So my specialty is financial planning, and there's a lot going on in the world today with elections and interest rates and inflation. So we're going to cover a lot today. But I'm I'm glad to be back. And with that we'll get started. So in my presentation today, we're going to talk about the power of compounding your money. 18 00:02:45.190 --> 00:03:02.120 Buck Bandura, CFP(R): Why, that's important to to snowball your money and we'll talk about that. We're talking about the election cycle. I know people are gonna be very emotional and we're gonna teach you guys how to keep your heads in an emotional time. Last year, last July we talked about higher interest rates. 19 00:03:02.120 --> 00:03:18.660 Buck Bandura, CFP(R): Happy to report this year. I will be talking about lower interest rates with, and we'll explain what we're seeing there in the interest rate world, and how bonds may be a good investment going forward or lower your volatility in your portfolios. 20 00:03:19.055 --> 00:03:23.184 Buck Bandura, CFP(R): We're gonna cover financial planning basics like we always do budgeting 21 00:03:23.740 --> 00:03:25.829 Buck Bandura, CFP(R): and the basics of financial planning. 22 00:03:25.850 --> 00:03:46.660 Buck Bandura, CFP(R): And and I do think I need to sound an alarm on outside taking out size risk in the market. So you know, things are valued pretty highly right now, and I'll give you a few warning signs on on some things you may or may not be invested in in these highly valued markets. So with that, said, I'm gonna start the presentation. 23 00:03:48.180 --> 00:03:53.620 Buck Bandura, CFP(R): I think we all are aware. In my last year we talked about inflation. 24 00:03:53.820 --> 00:04:02.575 Buck Bandura, CFP(R): And this is the value purchasing power of your dollar. If you've been anywhere to the grocery store, or you've received an insurance bill. 25 00:04:02.950 --> 00:04:26.069 Buck Bandura, CFP(R): it's not that everything costs more. It's that your dollar buys less currencies around the world have dropped in value some a lot faster than the Us. Dollar. But take a trip to Europe or go to Japan. Their currencies have been very, very weak, but even our currency has lost a bit of purchasing power. That's why it's super important when you're planning for retirement to plan for inflation. 26 00:04:27.830 --> 00:04:49.029 Buck Bandura, CFP(R): this was a slide we covered last year what caused inflation? There were a lot of things one of the things was when Covid happened. You can see there, and and 2,020 the Government kind of panicked printed money and handed it out like candy, and that created a lot of inflation. There was a lot of money circulating around and a lot of government spending 27 00:04:49.368 --> 00:04:59.849 Buck Bandura, CFP(R): there were supply chain issues and other things. But the money supply exploded and that created a bunch of inflation. And and you can see recently, or the last 28 00:04:59.850 --> 00:05:20.459 Buck Bandura, CFP(R): couple of years the government has raised interest rates. They've stopped printing the money. We're still doing massive deficit spending as a country. But the money printing part has slowed down quite a bit. And that's a warning sign for risk assets that we'll we'll talk about but what caused the inflation was one of the big things that caused the inflation was the amount of 29 00:05:20.460 --> 00:05:31.449 Buck Bandura, CFP(R): currency the Government printed up to Battle Covid and and now, when the economy opened back up. There was too much money in the system, and it created a a bunch of inflation. 30 00:05:32.555 --> 00:05:35.979 Buck Bandura, CFP(R): We'll get back to interest rates and inflation in a minute. But 31 00:05:36.190 --> 00:06:02.539 Buck Bandura, CFP(R): the title of my presentation is the power of compounding, and this is a great lesson. Some of you are very close to retirement, others are a little younger, so we'll cover all goals in this presentation. But compounding is an amazing thing. Albert Einstein called the power of compounding the 8th wonder of the world. And if you can think of a snowball rolling down a hill and growing 32 00:06:02.540 --> 00:06:14.689 Buck Bandura, CFP(R): when you're just 1st starting out with that little snowball. You gotta get it going down the hill. And so what we mean in in in the money business. What we mean snowballing your money is that. 33 00:06:14.780 --> 00:06:30.679 Buck Bandura, CFP(R): you know we we agree. The $100,000 you save is, you know, I I don't know if I can say it. It's a bitch, but the 100,000 is really really hard to save. But once you've saved up a hundred $1,000, that $100,000 can make you a lot of interest and dividends 34 00:06:30.680 --> 00:06:55.580 Buck Bandura, CFP(R): and buy you more. And that's how the snowball gets going and gets that wonderful compounding. And I'm going to show you that in a couple of graphs. So if you're young and starting out, you know you you know, you really gotta say for retirement that 100,000 is very hard, slow, and it hurts. But once you hit that mark, the snowball really starts to accelerate downhill and creating massive wealth life, changing wealth for your family. I'm gonna teach you how to do that, and what dividends and income 35 00:06:55.580 --> 00:06:56.929 Buck Bandura, CFP(R): are, and how that helps 36 00:06:56.940 --> 00:07:25.319 Buck Bandura, CFP(R): if you're already in retirement. Well, hopefully, your snowball has grown over the years and the decades, and in retirement you will live off those dividends and interests so that snowball. So you want to build that snowball as big as possible, because you're going to live off that snowball later in life. And if you've done a great job of building that snowball, you can take less risk and focus more on income. You know, we're in an environment where there's lots of risk-free investments to be had that pay excellent income right now. So 37 00:07:25.320 --> 00:07:54.399 Buck Bandura, CFP(R): one of the good things about these higher interest rates as a saver, it's wonderful. You can get great interest on your money as a borrower, you know, from a mortgage to a car to your credit card or student loans. It's it's a huge burden. But for savers or people in retirement. These high interest rates can be a blessing. We're gonna talk a little bit about that. So I'll just on this slide again. If you're younger. We gotta build that snowball up and get it rolling down the hill for you. If you're older we gotta teach you how to live off that snowball. 38 00:07:56.540 --> 00:08:03.949 Buck Bandura, CFP(R): So in this example we have Ben, who started saving for college, or I'm sorry, saving for retirement at age 21 39 00:08:04.541 --> 00:08:13.939 Buck Bandura, CFP(R): a measly $200 a month they put away for for for 9 years they put away $21,600, 40 00:08:14.150 --> 00:08:17.700 Buck Bandura, CFP(R): that's all they saved, and then they let the snowball do the rest. 41 00:08:18.010 --> 00:08:19.210 Buck Bandura, CFP(R): Joey 42 00:08:19.250 --> 00:08:21.849 Buck Bandura, CFP(R): waited till age 30, 43 00:08:22.090 --> 00:08:48.019 Buck Bandura, CFP(R): and and save 2,400 and did that all the way until age 67. So that's probably a lot of us in here didn't have a lot of money to save in in our twenties, but we waited till 30 and we contributed for 37 years, and we contributed over that time 88,800, you know. Let's call it 4 times as much as as ben ever as ever contributed. And if you look at that. 44 00:08:48.120 --> 00:08:50.000 Buck Bandura, CFP(R): Ben, starting early. 45 00:08:50.360 --> 00:08:58.280 Buck Bandura, CFP(R): has almost twice as much. So that's the power of the snowball. That's why I I get everybody's attention. Is that starting early? 46 00:08:58.631 --> 00:09:19.710 Buck Bandura, CFP(R): That is such a huge advantage of of building your snowball. Now, Joey did just fine 88,000 turned into 1.2 million. That's a very powerful retirement, a very. It can make a lot of money off 1.2 million in the form of interest and income to live off of. But starting early. So some of you that have kids at home, or or younger colleagues. 47 00:09:19.977 --> 00:09:42.190 Buck Bandura, CFP(R): you gotta grab them by the year. Get them on these presentations to to to show them the power of compounding. Why, starting early is is is such a blessing. But wherever you are on your snowball, you know there's no better day than today, but the power of compounding is is massive, and again, a lot of us are gonna live to 100. So our snowballs can grow for a long time and be passed on to our loved ones. 48 00:09:43.655 --> 00:10:09.169 Buck Bandura, CFP(R): So how do we build a snowball? I know this is redundant. Every time you guys see me hear the word budget or diet, and and and it drives you crazy, I know. But we do a bad job as Americans of telling our money where to go, and it's super important to budget. And any financial planner certified finish planner you work for will make you do a budget, and we'll do all the math off your budget. So so if you have a good budget. Then you're gonna get very accurate math. 49 00:10:09.280 --> 00:10:17.369 Buck Bandura, CFP(R): And this there's 3 reasons why we do budgeting, hey? It helps us find money to to save or pay down debt, to start building the snowball 50 00:10:17.699 --> 00:10:40.300 Buck Bandura, CFP(R): and gives you control of your money. You know where your money is actually going. I think I think there's a lot of us, probably, on this call that have no idea where our money goes and are surprised. So remember the trick to to being wealthy. Is that pay yourself first.st So, you know we have to. We have to know where our money goes, so we know how much we have to play with or invest, or save or pay down debt with. 51 00:10:40.360 --> 00:10:58.999 Buck Bandura, CFP(R): and then it helps with the math on how much you'll need to save for retirement. If we know what you spend now, we'll kind of know what you spend in retirement, and there's lots of stuff on the web or working with the financial planner where you can and they'll they'll help you decide how big your snowball has to be before you do retire. Now. 52 00:10:59.000 --> 00:11:12.980 Buck Bandura, CFP(R): you guys have a great advantage of, you know, working at at at Asu. You know, you have a lot of great retirement benefits and and ways to save, and and even and pensions which which are way ahead of 53 00:11:12.980 --> 00:11:33.779 Buck Bandura, CFP(R): a lot of other people. I work for a lot of companies that don't have pensions or great retirement benefits, and we have to grow their money in a 401. So you guys are very blessed. You have a lot of different levers to pull in retirement, which will make the journey a little bit smoother. But no matter how much money you have, it's very, very important to budget. 54 00:11:34.130 --> 00:11:55.230 Buck Bandura, CFP(R): and I'll just spend a couple of minutes on this as always, I will email this over to Liz. It'll probably be on Wednesday when I can get it over to her. But I'll send her this template if anybody wants it. It's a 5 min template to to kind of figure out what you spend on a monthly business on a monthly basis. And we we take the popular categories 55 00:11:55.536 --> 00:12:11.399 Buck Bandura, CFP(R): we don't want you to get it to the penny. Some of you have spreadsheets and keep it to Penny. That's wonderful. But for some of you that don't have a budget, we'd like you to do a you know a 10 or 15 min dive into your credit cards and your bank statements, and kind of figure out what you spend. So we have all the categories already 56 00:12:11.410 --> 00:12:37.094 Buck Bandura, CFP(R): already busted out. And then we figure on a yearly basis of what what you're likely spending and what you're gonna spend in retirement. And then we that helps us do the math on how much money you need in addition to social security or pension to have a good retirement, and even if you can retirement. So I've talked a lot about a budgeting in the other meetings. Feel free to to reach out to me, and I'll help you develop your budget. 57 00:12:37.390 --> 00:13:05.459 Buck Bandura, CFP(R): if you need a little help there. But again, if you haven't looked at your budget in a year. Please do it again. I know everything costs so much more. I'm over in California right now. I just read in the Newspaper State Farm is asking for a 35% increase in homeowners rates here in California. 35 increase. That's massive. So we know insurance, we know things cost more with all this inflation. So if you haven't done a budget in a year, please redo your budget. 58 00:13:05.832 --> 00:13:08.069 Buck Bandura, CFP(R): So that we have accurate spending. 59 00:13:11.150 --> 00:13:28.610 Buck Bandura, CFP(R): so that brings us to emergency fund. Another basic pillar of financial planning, 101. I always harp on an emergency fund. And I and I think a lot of you if you've listened to me before, have one now. Thank you. But basically 3 months of spending. So whatever we come up on your spending worksheet. Let's say you spend $5,000 a month. 60 00:13:28.630 --> 00:13:44.589 Buck Bandura, CFP(R): You would want a $15,000 of emergency fund, and you can earn some interest in savings or CD, or you know you want it in something that's safe. It's there in case of emergency. You don't have to use the credit card. So we we think you should have 3 months of emergency money 61 00:13:44.590 --> 00:14:00.539 Buck Bandura, CFP(R): set set aside again. 50% of Americans don't have a thousand dollars, say, for an unexpected expense. Don't be the that person you need to be an expert on your budget, and whatever you can save to start building up an emergency fund is is wonderful. And if you spend your emergency fund, then 62 00:14:00.540 --> 00:14:06.020 Buck Bandura, CFP(R): or an emergency happens, you know, build that back up. And that's just financial planning 101 63 00:14:07.048 --> 00:14:28.569 Buck Bandura, CFP(R): this is always a very popular slide, and anywhere I go, if if we don't have debt, we have friends that have a debt or loved ones that have debt, and and it feels hopeless. And and they're paying massive interest. And and they're not making any progress. The only the only strategy I've seen work to pay down debt is to list all your debts on a sheet of paper. 64 00:14:28.710 --> 00:14:55.889 Buck Bandura, CFP(R): and you wanna pay the debts with the smallest balance first.st So most of us are mortgages, our biggest debt, and and you know, so we list all our debts, whether it's the target credit card all the way down to our mortgage. But you wanna pay the smallest debts off 1st and make progress and the minimum payments to all your other debts. I don't really get into the math, or you know the interest rates it's more about just getting all those debts off your balance sheet. So 65 00:14:55.890 --> 00:15:04.980 Buck Bandura, CFP(R): when you when you eliminated that you know, communicate that with your loved ones, and you know, journey on small wins. Add up 66 00:15:05.690 --> 00:15:27.099 Buck Bandura, CFP(R): you know. You know, a lot of us have 5 different credit cards in our wallets. That's the you know that, you know. They they hit us with all the promotions. Wherever we fly they try to give us a credit card. I really recommend, you know, one credit card. If you could only have one. I I highly recommend the Costco credit card. There's other good ones, but Costco has some great perks and no annual fees and low rates. 67 00:15:27.100 --> 00:15:41.899 Buck Bandura, CFP(R): but we like one credit card. Generally. You just need a visa or mastercard. If you have an American express, maybe you need 2 and we? We're big fans of debit because debit doesn't get you in trouble. You're only spending money that you have. So we like the philosophy of debit a lot. 68 00:15:42.164 --> 00:16:06.499 Buck Bandura, CFP(R): If you have any children at 13 years old they can get a debit card all the big banks offer a free program, and it teaches them how to use their debit card. i i i think we're going to a world where they're gonna need to understand that and balance that and and not spend on credit. So we do recommend debit cards. If if you can't pay your credit cards every month. Now, if you have great discipline, and you can pay your credit card every month. 69 00:16:06.500 --> 00:16:18.769 Buck Bandura, CFP(R): Month. You do get some perks and rewards and cash backs. But I've seen way more people get in trouble with credit cards than the Perks that those get. So be careful on those credit cards 70 00:16:19.500 --> 00:16:21.660 Buck Bandura, CFP(R): how to save money. Now. 71 00:16:22.003 --> 00:16:37.700 Buck Bandura, CFP(R): We do a lot of budgeting over here. Down the street in Scottsdale, and we do make all our clients do budgets, and we watch closely. And we all I like you guys, if you haven't looked at your insurance auto insurance homeowner insurance, Renner's insurance. 72 00:16:37.700 --> 00:17:00.539 Buck Bandura, CFP(R): even health insurance. I know. Maybe you guys are covered with Asu. You're lucky there. But the insurance has been a huge increase on the budgets recently. Now, insurance is competitive here in Arizona, and there are insurance brokers that shop many different companies, and the insurance companies tend to offer new clients if they have a clean record and don't have a lot of claims, offer them some 73 00:17:00.580 --> 00:17:18.029 Buck Bandura, CFP(R): kind of better rates than they would their existing customers. So always good to call your agent or your insurance company, and see if you can save a few bucks on insurance. I will make one little footnote here that we're finding working. A lot of us have homeowners insurance where our deductible is 500 or 1,000. 74 00:17:18.950 --> 00:17:35.169 Buck Bandura, CFP(R): You really do not want to do small claims on your homeowners insurance anymore. The insurance companies don't want people with claims. So if you have a small claim and you use your insurance, that's that could cost you a lot of money and even future, you know, being insurable by future companies. So 75 00:17:35.170 --> 00:17:51.242 Buck Bandura, CFP(R): if you're not, gonna use your homeowners insurance for small things, maybe you should consider like a $2,500 deductible. That'll save you some money. So you may wanna consider raising your homeowners insurance. We're not in the era of using our homeowners insurance for small things. We wanna use it for large things. 76 00:17:51.530 --> 00:18:00.649 Buck Bandura, CFP(R): and so maybe you should re erase your deductible. So shop your vendors. It's competitive out there. Consider raising your deductible to save you a few bucks? 77 00:18:01.010 --> 00:18:29.370 Buck Bandura, CFP(R): We all have unused subscriptions and services. Let's keep a really close eye. All those music services, or those pelotons, or the the Hbo, you don't watch anymore, or the Disney, or whatever you know, there's hundreds of dollars of subscriptions people have, and if they got rid of those and save the money. It's hundreds of thousands of dollars down the road. So important to make sure you're only subscribing to the subscriptions and services you use 78 00:18:29.370 --> 00:18:38.189 Buck Bandura, CFP(R): just a friendly reminder to check that. I know there are ways to Google that. And look at your settings on your phone and look at all your subscriptions and see if there's something there. You don't use 79 00:18:38.560 --> 00:19:07.869 Buck Bandura, CFP(R): huge component of time of use plan with the Power company. I'm even a fan of the smart thermostats. So right now, a Srp, I'm assuming a S. Aps does the same thing. You can. You can get a fancy Google thermostat. It has a mind of its own, but it will save you a lot of electricity and save you money, and the and and Srp. And Aps. Will give you great rebates. So so look into the time time of use. Plan just means you if you don't use power 2 to 8 o'clock 80 00:19:07.870 --> 00:19:37.650 Buck Bandura, CFP(R): on the on the weekdays. You can buy power at a very cheap rate at all the other times, and they guarantee you to save money on that program. So you have nothing to lose. So we really like the time of use plan it generally saves me 6, $700 a year again, money I can save. So take a look at the time. Use plan. They have different plans for different families. But we kind of live by it. You can program all your thermostats. Don't do your laundry. Don't run your pool during those high cost hours. 81 00:19:38.515 --> 00:19:53.914 Buck Bandura, CFP(R): Cook healthy meals at home. I do a lot of restauranteers are clients of mine, and the only way for them to make money with labor so high. And all this inflation is they've cheapened the ingredients. I think if you've gone a chipotle burrito, there's hardly any mean in there anymore. So 82 00:19:54.544 --> 00:20:20.750 Buck Bandura, CFP(R): you know, eating out costs a lot of money. It's probably not healthy for you and you're not getting much for your money eating out anymore. So you know, try cooking healthy meals at home. You might feel better. Obviously skip the morning Latte Starbucks is already stock has dropped a ton. The casual user of Starbucks has stopped. So the $7 lattes, or whatever that that game is over. So 83 00:20:21.036 --> 00:20:35.930 Buck Bandura, CFP(R): you know, I don't know where the free coffee is at a issue, but I'd find it. So skip the morning latte that'll save you a few bucks. So these are areas we've seen to save money. Recently. So take a look at and and chop your vendors, please. 84 00:20:36.490 --> 00:20:37.540 Buck Bandura, CFP(R): Okay. 85 00:20:39.000 --> 00:20:43.359 Buck Bandura, CFP(R): election cycles. I'm gonna look at the time. Here, we're doing good. 1221. So 86 00:20:44.430 --> 00:20:46.417 Buck Bandura, CFP(R): you know again. 87 00:20:48.040 --> 00:21:10.780 Buck Bandura, CFP(R): I hate all politicians equally I think our politicians are bought and sold so that's just a bias I had don't hate me for it. But election cycles are important to market cycles. So I just wanted to give you guys, I people are gonna get very emotional about the election and I always dread this time. There's a lot of hand holding, but 88 00:21:10.780 --> 00:21:24.929 Buck Bandura, CFP(R): I will do the math and and stick to the facts, and the facts are it really? Isn't that election? Isn't that big of a deal? When it comes to markets? But there is one thing in the election cycle that is important with markets, and we'll cover that today. So 89 00:21:24.930 --> 00:21:43.360 Buck Bandura, CFP(R): my goal is to try to stay unemotional while others lose their mind. Okay, so we can't get away from politics, unfortunately. But it's not that important in your retirement, planning as you would think. And I'm going to prove that to you here right now. So every 4 years we get to talk to about elections. I'm sorry. 90 00:21:43.360 --> 00:21:46.099 Buck Bandura, CFP(R): but it is important, so let's get into it, Joe. 91 00:21:46.768 --> 00:22:04.900 Buck Bandura, CFP(R): This is a chart going back all the way to 1928. And you can see when the Republicans were in charge, when they had a Republican President or a Democrat President, and my 8 year old daughter could could figure out that, hey? You know, markets go up regardless if it's Republican or Democrats, so 92 00:22:05.211 --> 00:22:23.608 Buck Bandura, CFP(R): just get it out of your mind. You know that the American system works, and it works no matter who's in charge, and that's important to to keep in mind. So. There's a lot of reasons to care about politics, but your your money is is not as important to politics as you potentially would think. And so 93 00:22:24.358 --> 00:22:49.759 Buck Bandura, CFP(R): as you can see here. It hasn't really mattered. We've been on this wonderful run since 2,000 all the way up to to recently here in markets. So so those who've been investing their snowballs have done really well. For a bit of time here, and I'll get your attention at the end when we talk about highly valued markets. But the markets done well with Republicans and Democrats. 94 00:22:51.070 --> 00:22:52.130 Buck Bandura, CFP(R): So 95 00:22:52.260 --> 00:23:15.910 Buck Bandura, CFP(R): this chart shows so there's 2 things that we invest in. Generally in our retirement plans. We invest in stocks, ownership of company, and and that participate with the a rise in economy and bonds, which are loans and pay interest, which are tend to be stable and pay interest. So you can see when a new president is elected. 96 00:23:16.370 --> 00:23:34.840 Buck Bandura, CFP(R): Basically, the stock market since 1920 28 is average 9% way better than inflation and bonds of average 6% way better than inflation. All presidential cycles has been 11 for stocks and 5.5 for bonds, and then, if the 97 00:23:35.270 --> 00:23:40.549 Buck Bandura, CFP(R): incumbent was to stay in power, or the incumbent party was to stay in power 98 00:23:40.990 --> 00:23:52.679 Buck Bandura, CFP(R): 13% or 4. All of them are good outcomes, so all are good outcomes. And there are no bad outcomes there. So again, we're not making a big deal out of a presidential election. 99 00:23:54.610 --> 00:24:17.069 Buck Bandura, CFP(R): you know, over time. This is the stock market. All the way back to 1980 we can see stocks. O are very volatile. Those red dots are the the corrections, the stock market. Every year the stock market has a nasty correction on average, about 13%. So there's always volatility in the stock market. Owning stocks can be risky in the short run, and there is volatility. But over the long run 100 00:24:17.070 --> 00:24:26.719 Buck Bandura, CFP(R): it really builds a snowball and a couple of things I'll bring to your attention on that chart is that we had the tech wreck back in 99, 2,000 2,001 101 00:24:27.131 --> 00:24:30.419 Buck Bandura, CFP(R): stocks got slaughtered when the tech bubble burst. 102 00:24:30.781 --> 00:24:37.720 Buck Bandura, CFP(R): We had that big drop in 2,008 with the real estate. But stocks came back quickly after that. 103 00:24:38.094 --> 00:24:53.020 Buck Bandura, CFP(R): And then we had the big drop in 2,022 when interest rates shot up. Shot up quickly. We saw stocks drop. A big. Those were the the recent big drops. But oh, since 1980 stocks have done 14% a year. 104 00:24:53.110 --> 00:25:21.390 Buck Bandura, CFP(R): I mean, I've done a wonderful. I think it was even more than 14, but they've they've had a wonderful run since 1980. So so again, stocks are volatile. We understand that. It's important to understand. When you're young you can take a lot of risk in the stock market as you get older you may not wanna go through some of those dips and and and red dots that you see on on that. So for some of you are older retirement, I'm gonna give you some advice today. 105 00:25:22.571 --> 00:25:47.910 Buck Bandura, CFP(R): Now, here is the bond market. The bond market. This is again a bond is nothing more than a loan. The loan market pays interest. If you lend money to Asu for 10 years at 5%. Asu gives you your money back after 10 years and then give you 5% interest. Bonds are are very boring. They're written by a lawyer, and as long as they can pay you back they they stay pretty. So in the same period of time you can see the bond market. 106 00:25:47.910 --> 00:26:07.449 Buck Bandura, CFP(R): It barely ever goes down. However, just recently, when interest rates shot up, there's 2 reasons. Bonds go down. One is, if they can't pay you back. So whoever you lent the money to can't pay you back, or if interest rates go up really quickly. Your low paying bond is not going to look so good against a high paying bond. So that's what happened. 107 00:26:07.739 --> 00:26:34.389 Buck Bandura, CFP(R): In 2,022 and 2,021. The Bond market went down there. You can see my chart. It got smoked the worst bond market since 1931. Now, last year bonds kind of went up when rates stopped going up. Bonds bounced back a little bit, and then they're down just slightly here. But the bond market for retirees that need income. Actually, it looks outstanding right now it is corrected, and we'll talk about that. The fed is very close to cutting interest rates 108 00:26:35.470 --> 00:26:56.139 Buck Bandura, CFP(R): so if you listen to the fed talk. And look what the markets are predicting, we believe that the 1st interest rate cut that we'll see since the cycle, the higher rate cycle started here in 2,020 will be in September. We think the fed will probably cut rates in September of quarter 1%. So we've dealt with these higher interest rates the last couple of years. 109 00:26:56.140 --> 00:27:24.690 Buck Bandura, CFP(R): I'm here to tell you that now that inflation is kind of leveled off the fed wants to bring rates down a little bit here, and so we're seeing the economy just slow a little bit. I told you Disneyland is slow over here. Starbucks is slow things are slowing down a little bit. I think these high prices have hit consumers, and I think people are being a little smarter with their money here. And so I think the fed is, gonna get ahead of that and start cutting interest rates, and that'll be very good for bonds, potentially. And we'll talk about that 110 00:27:27.810 --> 00:27:28.510 Buck Bandura, CFP(R): So 111 00:27:28.650 --> 00:27:42.290 Buck Bandura, CFP(R): I wanted to talk a little bit about outsize risk here. And I want to show you guys the stock market in the short run here is very overvalued, so that 0. There is the historical valuation of the stock market. 112 00:27:42.880 --> 00:27:48.170 Buck Bandura, CFP(R): and that red.is kind of where we are. And so 113 00:27:48.740 --> 00:27:55.090 Buck Bandura, CFP(R): large company stocks, growth stocks, risky bonds. 114 00:27:55.660 --> 00:28:17.799 Buck Bandura, CFP(R): value stocks in general are, technically overvalued right now, if we use history as a guide. That doesn't mean they're gonna come down and become undervalued. It just means there's a higher level of a down market higher probability of a down market soon sooner than later. And so that is you know, that proves you know the market is overvalued. 115 00:28:17.800 --> 00:28:36.419 Buck Bandura, CFP(R): What's sort of undervalued again is the Bond market. So again, for some of you that aren't feeling great about the economy or close to retirement, or haven't bought bonds. Bonds have been horrible the last 5 years I get it, but they might be a good buffer, because when interest rates go down, bonds go up. 116 00:28:36.420 --> 00:28:54.079 Buck Bandura, CFP(R): When stocks go down generally bonds go up so you could add a little bit of bond to your portfolio, get some excellent interest, and have something in your retirement accounts that goes up when stocks go down. And I think that is a great time to diversify. So so again, stocks, in my opinion, are 117 00:28:54.080 --> 00:29:11.310 Buck Bandura, CFP(R): very expensive right now, if don't take my word, Warren Buffett, who is one of the richest men in the world, and made all his money in the stock market, has 200 billion dollars in cash. I mean, I think 1 3rd of Berkshire, Hathaway, or maybe 1 5th of Berkshire. Hathaway is in cash. He's been raising cash because he's not finding bargains. 118 00:29:11.330 --> 00:29:27.200 Buck Bandura, CFP(R): So even Warren Buffett, who they call the oracle, is. All his indicators probably show that things are a little bit overvalued, and they can stay overvalued for a while. This is not a timing call. This is just to remind you there is risk in the stock market when things are overvalued. 119 00:29:27.970 --> 00:29:40.899 Buck Bandura, CFP(R): So a case for diversification. Now, how do you? How do you lower your risk? avoid outside risk and highly valued markets? So if you're like a hundred percent in the stock market, or gross stocks or tech stocks. 120 00:29:40.900 --> 00:30:05.079 Buck Bandura, CFP(R): or you're buying, you know, companies that don't make a lot of money right now. You might not want to be taking that big risk. I know risk has been rewarded here the last year. So but if if your accounts are up a lot and went up fast. That might be an indication that maybe you're taking a lot of risk, because right now, markets are really high, and if if your account values are really high, I would ask myself, Hey, am I taking too much risk? 121 00:30:05.996 --> 00:30:17.789 Buck Bandura, CFP(R): The next question I was asked, do I have any bonds in my portfolio? So a lot of people have all their money in stocks. It's been treated very well that way for 30 years. This would be a great time, maybe, to take 122 00:30:18.404 --> 00:30:33.690 Buck Bandura, CFP(R): a a 4th of your account, and and especially if you're in your sixties, you may want to put 25 in bonds. Bonds are undervalued. They pay great interest. They'll go up as stocks go down. Maybe. Maybe now is a time to add a little bit of bonds. I know we are doing that for some of our clients 123 00:30:33.850 --> 00:30:54.360 Buck Bandura, CFP(R): and and why do bonds help? Because when interest rates go down, remember, bonds go up and we think that you know, interest rates are gonna start going down here. So a lot of people have money in money market earning 5% or savings accounts or Cds right now, 5%. But if interest rates go down, and a year from now, rates are down a little bit 124 00:30:54.410 --> 00:31:17.089 Buck Bandura, CFP(R): that's good for borrowers. But as a saver, you're not gonna get 5% or 5 and a half percent in your CD. Now, maybe you're getting 3 and a half percent. So if you, if you were able to buy a bond, you'll be able to lock in those high interest rates today, and and they may go up in values. So don't forget about bonds. The old attitude used to be. Take your age minus 100, and that's how much you should have in bonds. So if you're 70 years old. 125 00:31:17.421 --> 00:31:44.730 Buck Bandura, CFP(R): you know, maybe you should be 30% stock and 70% bonds I do not believe in that right now. I kinda I kinda think that if you're, you know, 70 or older, maybe 50, 50 stock and bond, I don't think you ever want all your money in stocks or all your money in bonds. I never would be 50. 50 would be kinda where I would be at age 70. If you're younger and 20 years old, while you probably don't want any bonds. But as you get closer to retirement 126 00:31:44.730 --> 00:31:57.629 Buck Bandura, CFP(R): bonds, pay income what you need in retirement, and they look to be a pretty good bargain. You're not probably gonna get rich or poor in bonds at this point, you're probably gonna get a good, honest return. So if you're nervous about the stock market bonds might help your portfolio. 127 00:31:57.630 --> 00:32:19.750 Buck Bandura, CFP(R): And again, we like high quality bonds, not junk bonds, not high. Yield bonds. High quality bonds probably are a good buy right now, buy low, sell high bonds are low right now, because they've been whacked the last 5 years. Stocks are high right now, because stocks have been going up recently. So you know, this would be what we call diversify to diversify your risk a bit. 128 00:32:20.960 --> 00:32:26.807 Buck Bandura, CFP(R): So back to valuation, and I'll go on, probably for 5 more minutes, and we'll stop and take questions here 129 00:32:27.430 --> 00:32:48.017 Buck Bandura, CFP(R): another chart to show price earnings ratio and we're going back to 1994, and you can see that we are getting to some overvalued times. In my presentation. I showed you the tech wreck there, back in 2,000. You can see how highly valued stocks were in the 2,000. And then the big 3 year crash after. 130 00:32:48.750 --> 00:33:17.839 Buck Bandura, CFP(R): Well, we're not there yet. We're not where we were when we had the.com bubble, but we're starting to get up higher to nosebleed levels and and the risk of you know, 30 correction which would hit your portfolios, maybe 30% is getting higher, and maybe you're getting where you don't want to take a big downside. So why things are going. Well, this is why I want you to ask those questions. But valuations are starting to get stretched a bit. 131 00:33:17.840 --> 00:33:39.410 Buck Bandura, CFP(R): And currently, right now, dividend yields 1.4%. So dividends are low price to book is very high. That's the way we value stocks. They're to their book value. The PE is very high. 21 versus 16. So if we used math, you know that we could say the stock market might be, you know, 25 or 30% overvalued 132 00:33:39.677 --> 00:33:55.699 Buck Bandura, CFP(R): in the short run. But that doesn't mean anything. If you've got a 1020, 30 year I showed you how well stocks do over the long run. That's fine, but but those who might need their money sooner. You know I'm just giving you a a yellow light that that we are getting overvalued in the stock market. 133 00:33:57.017 --> 00:33:58.840 Buck Bandura, CFP(R): Stocks go up 134 00:33:58.910 --> 00:34:01.849 Buck Bandura, CFP(R): 52% of the time any given day. 135 00:34:02.256 --> 00:34:29.159 Buck Bandura, CFP(R): On a yearly, you know. 7 out of 10 years the stock market goes up on a 10 year 90 of the time stocks go up, and on a 17 year, if you're younger and you have decades to go stocks, you know. And there's never been a 2030, 40 year period. We didn't make a lot of money in stocks, so math is on your side. But if you're a little older, these things start to start to make a little sense of how much volatility will have. So 136 00:34:29.380 --> 00:34:37.359 Buck Bandura, CFP(R): just to sum up what I talked about today. Important, everyday fund, important to spend less than you make really be an expert on budgeting 137 00:34:37.750 --> 00:35:02.950 Buck Bandura, CFP(R): so that we know how much you have to spend you, you, how much you're, you know, gonna spend in retirement, and how much risk you need to take? If you're saving for retirement, we would like you to save 10% for retirement. So I know issue matches. But a 10% savings is is very, very good. Try to get out of your credit. Cards. Auto loans, you know. High interest rates work against you, for you savers try to get interest on your money 138 00:35:02.950 --> 00:35:09.199 Buck Bandura, CFP(R): just the opposite don't get caught up in the market fluctuations or the emotions of elections. 139 00:35:09.500 --> 00:35:30.260 Buck Bandura, CFP(R): You wanna think global and it's a great time to diversify your money and and and think global. I mean, I think technology and AI and everything. The world's becoming very, very small right now. I did want to tell you one thing I promised you one thing that does matter in elections. One of the reasons I'm gonna give you a yellow light is that 140 00:35:30.740 --> 00:35:32.430 Buck Bandura, CFP(R): historically. 141 00:35:32.760 --> 00:35:48.820 Buck Bandura, CFP(R): there is a presidential cycle, and and before an election everybody tends to get along, and they don't rock the boat much. But the 1st year after a president goes in there. There's a lot of you know, all the promises they made, you know, in year 4, 142 00:35:48.820 --> 00:36:04.719 Buck Bandura, CFP(R): the election year, you know on both sides don't get done so. For whatever reason, the 1st year of a new presidential cycle tends to be the weakest for stocks, so just keep that in mind. We're coming up next year to a year that's normally not good for the stock market, so 143 00:36:05.380 --> 00:36:32.229 Buck Bandura, CFP(R): there could be a bit of volatility. So I'm glad I get to get your attention today. So you guys can think about what you want to do the next 6 months, and how you want to play it. But there's a lot of promises that get made by politicians in year 4 of an election cycle, and then, as soon as the election is over. A lot of people don't care anymore. And and and we tend to find trouble. So any can kicking, they try to kick it. So it makes sense. So there is a lot of statistical 144 00:36:32.980 --> 00:36:53.009 Buck Bandura, CFP(R): correlation with the presidential cycle in that way. It doesn't really matter who's President. It just matters that the promises don't come true. There tends to be a lot of volatility the 1st year after the election. So that's coming up next year. That's there's no guarantees. There's been good 1st years. There's been bad first, st a lot of bad 1st years. 145 00:36:53.010 --> 00:37:03.570 Buck Bandura, CFP(R): For whatever reason there tends to be a lot of volatility, I would not make a big bet on it or make giant financial changes. Because of that. I'm just bringing it to your attention that we have an overvalued market. 146 00:37:03.590 --> 00:37:27.399 Buck Bandura, CFP(R): and the 1st year after a presidential election can be a little bit volatile. So if you're very close to retirement, I don't want to see you guys get caught in a lot of volatility. So I'm always available to chat about it. There's other financial planners out there that are great that you can talk about these things. But this is a great time to be talking about your money and making sure you're not taking too much risk before next year 147 00:37:27.520 --> 00:37:32.579 Buck Bandura, CFP(R): with that, said Liz. I think we can open it up for questions. 148 00:37:34.230 --> 00:37:36.129 Liz Badalamenti: So someone's just asking 149 00:37:38.569 --> 00:37:51.139 Liz Badalamenti: where you can find it. It'll go back up and bucks gonna send me the information on the budget sheet. I know, Scott, you had a question. Do you wanna unmute yourself and ask your question? 150 00:37:53.817 --> 00:37:54.772 Scott Bracken: Sure. Yeah. 151 00:37:55.760 --> 00:38:05.880 Scott Bracken: I just wanted to know, wasn't there? Isn't there a calculator? Something on the Asrs website that you can actually do the formula to figure out when you can retire. I know it's based on 152 00:38:06.380 --> 00:38:14.940 Scott Bracken: years and employment, plus your age, and I want to say it's 80 is the number that you're trying to reach. But I might have that wrong. I don't know if there was 153 00:38:15.560 --> 00:38:19.080 Scott Bracken: a place that that's at, or if it's just pretty obvious once you get there. 154 00:38:20.480 --> 00:38:21.840 Scott Bracken: Thanks. 155 00:38:23.010 --> 00:38:25.469 Liz Badalamenti: Buck? Do you know the answer to that question? 156 00:38:25.815 --> 00:38:46.224 Buck Bandura, CFP(R): So you guys are blessed to have that those calculators that's more to your pension. So you know and that's a great that I mean, your pension is gonna be an important part of your retirement. So I've worked with them. Their calculations are wonderful, but that'll be just one pillar of your retirement. 157 00:38:46.570 --> 00:38:56.260 Buck Bandura, CFP(R): so that yes, that's a great tool. I would work with them. you can even call and get get suggestions. I'm not an expert on that. And I I'd recommend 158 00:38:56.260 --> 00:39:18.630 Buck Bandura, CFP(R): Liz and Trudy get someone from the state retirement system. But you know, I I do believe your pension is solid, and that you can run those calculators, and they send you projections. And and when you are, when you do make those projections. I'll just give you a little bit of a little bit more on that, though, that I I do know about, because we've helped clients with. Is that 159 00:39:18.630 --> 00:39:35.646 Buck Bandura, CFP(R): a a lot of times? There's options you can pick. You can pick it on your life like, how healthy are you gonna be? Are you gonna live to a hundred, or are you a smoker? And you're gonna die earlier. And how young is your spouse and things like that? You? There are other calculations where you can do a joint life, you can do an individual life. So 160 00:39:35.890 --> 00:39:50.050 Buck Bandura, CFP(R): so the calculations are different. But it's an important decision to make, and you should work with a professional. Probably it may it behoove you to work with a certified financial planner to help you make those calculations and listen to 161 00:39:50.050 --> 00:40:07.182 Buck Bandura, CFP(R): you. You know what your health is, how long you're probably gonna live. What's your finance? You know how important is your pension? So those are all great questions. So as you get closer to retirement age. Then I think you need to work closely with the the Arizona State retirement system and 162 00:40:07.510 --> 00:40:12.750 Buck Bandura, CFP(R): and and and get those financial planning questions at answered. So I know it's a very generic. 163 00:40:12.980 --> 00:40:24.529 Buck Bandura, CFP(R): But you have a great pension system, and there's a lot of information, and and put a lot of time and thought into it, because it is that important in your retirement that you get every penny retirement is expensive, so make sure you maximize that. 164 00:40:24.880 --> 00:40:47.529 Liz Badalamenti: And Scott. It is correct. So the Asu Rs our retirees. There is a calculator on the web page and also we're having them come. September 23.rd Someone from Asrs will be speaking for us. So make sure you get in on that also for us. But there is a calculator when you log on to the Asrs website for you to calculate your age and everything like that. 165 00:40:47.530 --> 00:40:56.419 Scott Bracken: Because that was one of those that did start before 2,011. But then I went somewhere else, and I've been back here since 2,019, too. So there's a little bit of that 166 00:40:56.710 --> 00:41:05.089 Scott Bracken: calculation in there, but I'll just go into it more and try to figure it out, too. But I know you guys are always good resources for this, too. So thank you. Thank you for the knowledge. Today, too. 167 00:41:05.090 --> 00:41:15.730 Liz Badalamenti: You're welcome. No problem. Someone's asking buck about how do mutual funds play into the strategy of stocks versus bonds? 168 00:41:16.230 --> 00:41:43.060 Buck Bandura, CFP(R): Okay? Great question. A mutual fund is A is has a has a investment policy statement. So some mutual funds are bond funds. Some mutual funds are stock funds, so usually in your, you know. 4 0, 3 B, or you know, if you have investments outside you have access to mutual funds or Ets, and they're just baskets of either stocks or bonds. So when you're looking to select 169 00:41:43.355 --> 00:42:05.250 Buck Bandura, CFP(R): where you want your money to go, you'll look for fixed income or bond funds. But there, there are great mutual funds with fidelity or vanguard that buy bonds or buy stocks. So a Mutual Fund is nothing more than a diversified basket of either stocks or bonds, or if it's a balance fund, it's even both. It has stocks and bonds. So generally when you're looking at your investment options, they'll list them 170 00:42:05.708 --> 00:42:31.639 Buck Bandura, CFP(R): equities or stock and the list balance, which is both stock and bond the list bond the list money market. So you just have to look at the list, and may maybe next year, when I get on, we'll actually look at what what options you have there at Asu, but Mutual Fund is a great diversified basket, and Etf is also another great diversified basket. But they'll be labeled either fixed income or mutual, or or your mutual fund be fixed income or 171 00:42:31.640 --> 00:42:40.009 Buck Bandura, CFP(R): equity. So again, the stock funds have done really really well. Recently, the last 5 years the Bond funds haven't done so well. That's why I'm just 172 00:42:40.010 --> 00:42:54.180 Buck Bandura, CFP(R): just maybe it makes sense to, you know, trim a little of the stock funds and add a little of the bond funds, because when interest rates go down, bond funds will do will do good. Now you don't get rich in bonds, their loans. They don't fluctuate a ton, but 173 00:42:54.453 --> 00:43:14.130 Buck Bandura, CFP(R): you can get great interest. 5, 6. Interest plus bonds are probably 10 undervalued. If interest rates go down, you could make 10 on your principal, plus that income. You can get very nice returns from the bond market here just because it's been so lousy the last 5 years. And I just wanted to make you guys aware of that today on this call before the bond market starts to recover. 174 00:43:15.720 --> 00:43:30.859 Liz Badalamenti: Buck, someone's asking, how do you recommend questions? With your financial advisor? They were saying that there's assumptions that they know best, and if you had any recommendations for learning, more podcast, blogs, anything else, you would recommend. 175 00:43:30.860 --> 00:43:55.207 Buck Bandura, CFP(R): Yeah, that there, there's great tools. Online. Again, i i i recommend certified financial planners. They tend to be more teacher, like they've been through a lot more education. So you could Google search or even go to the certified Financial Planner Board and find a a local financial advisor. If you want to do it on your own. There's great resources. To 176 00:43:56.015 --> 00:44:21.439 Buck Bandura, CFP(R): you know, great resources. But there's also a lot of lousy resources. So I always recommend, you know. You know. Pull the audience. If you have a financial advisor. And you're not getting good advice, you know. I recommend meeting meeting with him or her you know, getting some attention and and coming up with a plan or shopping around. But there, there are great resources out there. I I again. I think 177 00:44:21.540 --> 00:44:47.300 Buck Bandura, CFP(R): you know some people like doing their own plumbing. But i i i really believe. And you know it's been a really great ride for for people in their wealth the last 30 years, and if you built a snowball up you should really talk to a certified financial planner. A lot of them will meet with you, and you don't even have to become a client. And and and I would offer that anybody on this zoom today. I I'll I'd be happy to, you know. Dig deeper into your personal 178 00:44:47.868 --> 00:45:02.940 Buck Bandura, CFP(R): your your your personal situation, and give you an hour to my time and help you develop a budget, or answer your questions, or tell you if you're taking too much risk, and you don't even have to become a client. So any good certified financial planner would love to help 179 00:45:03.236 --> 00:45:23.413 Buck Bandura, CFP(R): so if not me you know. There, there's there's a lot of great ones here in Arizona. A lot of sun devils. So give someone a call and and and take a look. Just be be wary, you know. There's I would just say, one pitfall. We see a lot of people's are out there, you know, advertising or selling annuities or insurance products. 180 00:45:23.710 --> 00:45:33.079 Buck Bandura, CFP(R): Again, you're looking for a certified financial planner. They have a code of ethics, and and they have to do what's best for you. So not saying, those aren't bad solutions. I'm just saying that there are a lot of 181 00:45:33.471 --> 00:45:40.519 Buck Bandura, CFP(R): Sales based people out there in the financial industry that kind of muddy it up a little bit. So try to work with the certified financial planner. Please. 182 00:45:41.830 --> 00:45:53.659 Liz Badalamenti: Thanks Buck and Melinda, Melinda, for the points, for Asrs, for people who are looking for direction on that for their pension. Does anyone have any other questions for Buck. 183 00:45:54.910 --> 00:46:09.807 Liz Badalamenti: We greatly appreciate your time, Buck, and all the information you've given us. And yes, it's it's a very we're going into very interesting times with all of politics. So I like how you say everyone relax and let everyone else go crazy over it. So I like that answer. 184 00:46:10.130 --> 00:46:25.834 Buck Bandura, CFP(R): Alright, very good, and and you know, inflation, inflation should start to moderate a little bit. I think. You know we're we're, you know we're we're hopeful, you know. Interest rates can come down a little bit here. Mortgage rates can come down a little bit. People can get a little bit relief. So 185 00:46:26.140 --> 00:46:40.498 Buck Bandura, CFP(R): so hang in there. You know the one thing about a slowdown. It will fix a lot of these excesses and inflation and high prices in the stock market high prices in the real estate market. So if you've been waiting for a bargain, you know, maybe next year might be your year. So hang in there. 186 00:46:40.750 --> 00:46:51.549 Liz Badalamenti: And bucks. If people are trying to get a hold of you, how would you? Is it your email? Is it through your company? What is the best way for people to get a hold. 187 00:46:51.550 --> 00:47:08.949 Buck Bandura, CFP(R): Great question. I probably should have put it in there. But so there! There's 2 2 ways to get a hold. Maybe when you send the budget worksheet out on Wednesday you can have my contact info. But it's buck bander scfp my phone number 480, 188 00:47:08.980 --> 00:47:14.140 Buck Bandura, CFP(R): 2, 5, 8, 6,104, 8, 0, 2, 5, 8, 6,100. 189 00:47:14.340 --> 00:47:24.089 Buck Bandura, CFP(R): And my email is my, my 1st initial, B, my last name, Bandura, just on that, like on that slide, B. Bandura at W. 190 00:47:24.690 --> 00:47:25.600 Buck Bandura, CFP(R): A. 191 00:47:26.050 --> 00:47:31.078 Buck Bandura, CFP(R): FINE t.com, and I'm sorry for not having a slide for that. 192 00:47:31.850 --> 00:47:32.710 Buck Bandura, CFP(R): I'm not focused. 193 00:47:32.710 --> 00:47:33.489 Liz Badalamenti: I'll add it in. 194 00:47:33.490 --> 00:47:35.506 Buck Bandura, CFP(R): Just on you guys, yeah. 195 00:47:36.760 --> 00:47:41.900 Liz Badalamenti: We'll add it in to make sure that we can. Send the information out for you. Okay. 196 00:47:41.900 --> 00:48:06.220 Buck Bandura, CFP(R): Okay, great. And and again, I I offer anybody. That just needs advice or didn't want to ask a question today. You know I am coming back from a little bit of vacation here, so may take me a week, but I will get a hold of you. We will have a great conversation, and I'll give you some good advice. Whether or not you become a client or not. That's not important to me. I really just wanna make sure if I've stoked an interest, I wanna answer your questions and point you the right way. So. 197 00:48:07.460 --> 00:48:29.660 Liz Badalamenti: And we appreciate that, buck. We appreciate your time and energy. And you know, being with us today and bringing your expertise. So I did, put in the chat. So people know when our next classes are coming up. And then oh, Buck, can you look in the chat? Is it Bandura at WFAW. INET. 198 00:48:30.273 --> 00:48:39.660 Buck Bandura, CFP(R): I'm not looking in the chat. I don't see that right now, but it is bander at WF. As in Frank A. Is an apple, and then finet, which is f 199 00:48:39.870 --> 00:48:43.170 Buck Bandura, CFP(R): inet.com. 200 00:48:43.520 --> 00:48:47.580 Liz Badalamenti: Yup, and it looks like Tiffany. You are correct on how you have it in the chat there. 201 00:48:47.730 --> 00:48:51.095 Liz Badalamenti: Yep, perfect. Okay, thank you for sharing that. So 202 00:48:51.470 --> 00:48:52.540 Buck Bandura, CFP(R): Alright! 203 00:48:52.540 --> 00:49:17.790 Liz Badalamenti: Yes, thank you. Everyone for coming. Thank you, Buck, for your time. We can stop the recording and we appreciate it, Buck, for your information to share with all of us today greatly appreciated. So thank you everyone for coming, and it'll be posted on our web page for the information there, and I'll make sure Bucks information gets to it, too. So thank you. Everyone for your time. Everyone have a great day today.