Trust, But Verify

SPEAKER_03 0:06

I am the very model of a modern model of a spirit. I set the highest standard in the whole financial hemisphere. I fed them also thoroughly. I fed them till the settings and step with the examiners to learn what they have done. So whatever's closed instead. My register is spotless. It's beautiful story. For anything of flattery has never made a screen. It's badly fatted. It's got it. Go do stuff on the marketing campaign of most impressive size. Enforcement is expensive and enforcement doesn't advertise. My governance post of weakness, systemic and profound. I form the special task force, and I'm sure they wrote them down. Go look me up, the letters are as noble as they seem. Or look him up for nothing on the regulator screen. And if you'd like to know the difference, comment between me. We're talking real money.

CFP Trust Issues

SPEAKER_04 1:08

I bet you didn't have Gilbert and Sullivan on your genre bingo card, did ya? Your musical genre. I just thought that this one fit the pomposity of the subject of today's show. The uh and and by the way, let me just preface this before we get into today's show. This is not an indictment of this industry or this designation. It is because we think it's a very valuable designation for uh investment advisors, but we do want to call them when they have problem children. And we've done it before, but this we're gonna do in a more profound way. And the designation we're talking about is CFP. Hi, everybody, I'm Don. That's Tom. This is Talking Real Money, the podcast with a musical difference. And today, well, one of our listeners actually pointed out an article that we uh by by someone we know in the industry quite well, that both of us had somehow missed, and we appreciate that.

SPEAKER_02 2:10

Yeah, this came from Keith uh in Vancouver, Washington, which is near Portland, Oregon, for those of you geographically challenged. Uh, you know, and he said in the note, you often speak of the need to find a true fiduciary advisor. I agree, this is absolutely necessary so that one works with someone who truly works on the investor's behalf versus selling him her products that suit the salesperson. Um he attached an article out of advisor perspectives, which is something I should read more.

SPEAKER_04 2:40

I used to I feel like I used to read it more, but I used to read it all the time, and I haven't much lately, and that's why I miss this article. I think it's my Instagram.

SPEAKER_02 2:48

My Instagram time takes up the reading that I would be doing on um on advisor perspective.

SPEAKER_04 2:53

I don't use any social media at all.

SPEAKER_02 2:55

Uh so Alan Roth, the guy'd been around for quite a while. Um he got in the business what 20 odd years ago. Uh he's been out of Colorado Springs. Yeah, been a prolific writer. Um, and he's very thoughtful about things. And one of the things he's thoughtful about is the advice that you get and where you get it, and should you trust it. And he's he became a CFP, certified financial planner. Um, and then he ran into a case that absolutely stunned him. This is in 2008. He had a client came to him where who had been sold an annuity by a CFP, and the annuity was paying, I still don't even know how this is possible. The practice of paying a commission and a an advisory fee on top of that, the client was paying 5.29% a year in annual fees. 5.29%. That's what it says here. 5.29. It's that's astonishing. That is astonishing. So um he the client showed him this, and so Alan went to work on it, and they got it.

SPEAKER_04 4:00

That must have been a variable with lots of writers and stuff, and then charging a charging an AUM fee on top of that, an assets under management fee?

SPEAKER_02 4:08

Jeez. The once once called out the CFP advisor, gave the money his client, gave the client his money back, also a very generous interest rate. And he then took it up and said, Well, that's good, but that's not good enough. He went to the CFP board and said, What are you gonna do about this guy? And the CFB board, quoting him now, says, felt it was consistent with the above definition of a fiduciary. CFPs hold themselves out to a fiduciary standard, maybe. I think it's a good thing.

SPEAKER_04 4:40

But that's a that they state that acting in the client's best interests is one of the core standards of a CFP. They even, I believe, say that in their CFP advertising to let people know that you can trust a CFP because they're always acting as a fiduciary. But they're not we've raised this before because there are a number of guys on the radio in Seattle who are investment advisors and sell indexed annuities, which, by the way, are one of the products that I believe, I believe cannot ever, ever be sold in a uh under a best interest standard to anybody, ever. There's just no way a product that claims to be 100% safe and obfuscates, completely hides commissions from the customers can ever be considered a best interest product. It just can't. And there are a bunch of guys in Seattle, one of whom I know has a CFP or a CFP in his firm, and they're selling these things to people acting as if they're fiduciaries.

SPEAKER_02 5:41

Yeah, the CFP board, the the the advertising you referred to says, quote, CFP professionals are committed to acting in your best interest. That's why it's got to be a CFP. It's a nice rhyme, but not so uh honest, I guess, in terms of truth. But anyway, so go moving on. Um, he has continued to look into Vol this, and here's the part that absolutely

Hidden Disclosures

SPEAKER_02 6:03

floored me. Absolutely, so I guess the CFP, if you want to go find one of the folks who's got the uh the mark, the CFP mark, um you go to a website called let's make a plan dot or girdle. Right, where you can find one. Um I still when I read these numbers, read them yesterday, read them again today. I I'm floored. This is from Alan Roth in the advisor perspectives article. Over 9,000 CFP who's say CFPs who appear as clean on the let's makeaplan.org site have at least one disclosure on broker check. Now, let's describe what that means. A disclosure. It could be a bankruptcy, it could be a problem with the client. There could be a lot of things a disclosure means.

SPEAKER_04 6:50

By the way, a disclosure is not necessarily does not necessarily imply they did something wrong. It means they had a complaint against them or uh again, as you said, a bankruptcy.

SPEAKER_02 6:59

Yeah. It's it's I think if you look at our ADV, we have no disclosures, period. The entire company, I believe. I'm I think I'm correct about that. But here's another one that's absolutely that's a big number, but 7,300, 7,300 of these folks who appear on as clean on the let's makeapplan.org site have formal complaints from their clients. That's up from 5,000 in 2019 when the CFP board said, You're wrong, Alan, we've cleaned everything up. Um if you think that's not bad enough. How about this? 1,000 CFPs have some sort of form of criminal disclosure. 1,000 that are listed on the website.

SPEAKER_04 7:43

Criminal disclosure is a totally different kind of disclosure. That means they actually did something wrong.

SPEAKER_02 7:52

Yeah, uh they wouldn't list it if they hadn't, right? Right. Um and yet, all along, still he keeps going back to the CFP board and asking them, really? Are you really acting in the the interest of the public? And he at the end of the article he says the CFP Board of Standards, the mission is no longer to benefit the public. They it's just this is just this is an article that if you're looking for advice, you should read. Number one. Number two, at the end of the day, if you hire a CFP, I think we said this on the program, that is not a guarantee that you get a fiduciary standard.

SPEAKER_04 8:27

No, no. As a matter of fact, they even say that on let's make a plan. It sounds like let's make a deal. Uh, it says that when you hire a CFP professional, you're hiring a trusted advisor who has made a commitment to putting your interest first. They've they they commit to act as a fiduciary, but they go on to hedge. They got wiggle words. CFP board is not a regulator, and the CFP board doesn't guarantee a CFP's professional services. However, a CF the CFP board may sanction a CFP professional who does not abide by this commitment and welcomes tips from the public. Well, I know several years ago I sent a tip in about one of these equity indexed annuity advisors, and nothing, nothing ever came out.

SPEAKER_02 9:14

Here's something he pointed out that I did not know. In early 2023, which I believe is three years ago, the CFP board split into two entities and converted the CFP Board of Standards, which grants the mark, to a 501c6 organization with no benefit of no mention of benefiting the public. The board of directors, by the way, I still I struggle with this, gave hefty raises um to the people running it. You know, the the the one he mentions in the article makes $1.3 million a year in compensation. I for any nonprofit, that seems like a lot, but for in this case, it seems like a whole lot. But I I mean this that's it's a real job, I'll give you that. But $1.3 million for a not-for-profit seems like wait a minute.

SPEAKER_04 10:01

Why are they even a nonprofit? I mean, they're not a $501, so they're not tax deductible. They're not cheritry.

SPEAKER_02 10:09

Yeah.

SPEAKER_04 10:10

I don't understand why they're even a nonprofit. They should be a for-profit company, the way they the way they behave.

Fiduciary Reality

SPEAKER_02 10:16

But I think for you, the the person looking for help, um, I do think that the CFP mark, the education you get, the amount of experience you're required to have is significant. In fact, I still think it's the best for the company.

SPEAKER_04 10:31

In terms of education, it's the best. It is the best.

SPEAKER_02 10:33

I think it is the best, yeah. But it doesn't give you protection from people that may do harm. By the way, there's people that are that are fiduciary advisors who've done harm in the past, too. But um this, those numbers, a thousand of them have a criminal complaint, that is really frightening. 9,000 that have a disclosure. So those are, you know, that's we're talking real numbers there. So you can't get that protection. The only way you really can get it still is working with a firm that is a 100% fee-only fiduciary. That's it. Well, you okay, you could get hourly too, okay. But 100% fiduciary, they're not duly registered, they sell no products, they don't offer annuities, any of those things. That's the only way you can guarantee protection. Just to run out and hire a CFP will not give you that.

SPEAKER_04 11:21

Yeah, and if you think that the CFP mark is going to guarantee a uh a professional who acts in your best interest, don't, you still need to go to Broker Check at FINRA, which is a great place to go. You because you'll even get the SEC records you c uh from from that, or you go directly to the SEC site, which is advisorinfo.sec.gov. And and and you know, one of the things that nobody ever does is ask for the fiduciary guarantee in writing. Make them put it in writing and sign it. If they refuse to do that, then there's reason to be suspicious.

SPEAKER_02 12:07

Yeah, and I guess the other one is something you've pointed out in the past, and that is even if they're a CFP, you should still go to broker check, right? And look at the right. Right, that's what I'm saying.

SPEAKER_04 12:15

Go to broker check or the SEC site, advisorinfo.sec.gov, and look them up and make sure they don't have disclosures. And if they do have disclosures, go read the disclosures. They'll tell you exactly what they are and what happened, whether they they were found to not be uh reasonable or they were found liable. And if they have criminal, that's probably a problem.

SPEAKER_02 12:45

That's take some serious activity.

SPEAKER_04 12:48

I don't take the CFP mark uh in terms of uh the fiduciary standard seriously at all anymore. I I used to think that it did kind of guarantee something, but it really doesn't guarantee a darn thing except that that person passed a pretty darned rigorous test. Pretty darned. We also, in addition to ranting about things. Oh, by the way, before we move to the question part, uh if you didn't listen to the the uh the jingle, the theme of today's show, go listen to it again. You'll see it was about the CFP board, kind of in a roundabout way.

SPEAKER_02 13:26

I remember the day when you said we wouldn't do themed shows. Now you're doing theme songs. I this is really this is really jump the shark here, Chief. I don't know where it's.

SPEAKER_04 13:35

You know, if you if you're not changing, you're not growing.

SPEAKER_02 13:39

I'm growing. You can see that right here. There's growth, but it's I've actually I've actually declined.

SPEAKER_04 13:44

So that's I know.

SPEAKER_02 13:45

You're anything I'm losing, I'm hand anything you're losing, you're

Listener Questions

SPEAKER_02 13:48

handing it to me. I appreciate it. We love your questions.

SPEAKER_04 13:50

You can send them in to us at talkingrealmoney.com on the ask a question form or using the microphone button in the lower right hand corner to record a two-minute or less question. And Tom then takes those and he loves to print them out on pulp from trees.

SPEAKER_02 14:04

I can see these huge trees shaking right now as I get the paper right outside the window here. So they're frightened.

SPEAKER_04 14:10

Including the bald eagle tree. Now leave that one. That bald eagle is very nice.

SPEAKER_02 14:14

So funny. Somebody was over the other day and said, if you got rid of that tree right there, look at the view you'd add. I was like, that's a hundred-year-old fur. I'm not cutting that. Plus, would you imagine what that would cost to cut down? It's 120 feet or something.

SPEAKER_04 14:26

I don't tell you, there is expensive because my wife wanted to get rid of a tree behind our house. How much? And it was like twelve thousand dollars, including the root grinding.

SPEAKER_02 14:36

I imagine this thing would be twenty or thirty. It's a huge and I'm not gonna do it anyway. I well, isn't that your eagle tree? That's the eagle tree. Yeah.

SPEAKER_04 14:44

Yeah, you can't take down the eagle tree. It's un-American. It's also probably illegal. It's illegal too, yeah.

SPEAKER_02 14:50

Uh, so are you ready?

SPEAKER_04 14:52

I'm always ready for your questions, Tom.

SPEAKER_02 14:55

Tampa, Florida. Down. Coda, coda, camp from Tampa. Hello, gents. I'm 64 with a retirement pension income of $5,000 a month. What are you writing to brag or something? That's that's a great pension.

SPEAKER_04 15:06

That plus social security kind of does it.

SPEAKER_02 15:09

Uh it's been more than enough to meet my needs living overseas as I currently spend two to twenty two thousand to twenty five hundred dollars, I guess that's a month, to live comfortably. I have no debt, I'm not married, no children. Well, no wonder you're so well off. Uh sorry. You got rid of one of the

Spending Your Returns

SPEAKER_02 15:25

bigger still working at this age because I got kids. Anyway, um, investment account is over $700,000. I would like to start withdrawing money from my investment account to fund future bucket list trips and to give to charity programs. I asked my advisor. Now here's where it gets tricky. I asked my advisor advisor to move all quarterly earnings. Now, what is that dividends or is that probably dividends?

SPEAKER_04 15:50

Well, that's probably dividends, but earnings could be capital gains, but then you have to liquidate.

SPEAKER_02 15:54

But I yeah, to my travel spending account. I also plan to take $20,000 for the next 10 years from my investment account for travels. What is your opinion for the strategy for a withdrawal plan on my investment account? In other words, taking the earnings. I mean, but you may go with earnings.

SPEAKER_04 16:12

If we're talking about distributed uh dividends and distributed income from bonds and distributed capital gains, great. It's a disciplined approach to funding the thing.

SPEAKER_02 16:21

But it's not the best approach.

SPEAKER_04 16:22

It's a it's a discipline. The best approach is a total return approach where you can't take 5% per year or 4% per year or 3% per year. Yeah, well, what you have to do is it well, do the math. Do the math first. What uh what what is the the typical cost of one of my bucket list trips going to be? If it's going to be a good thing, depending on whether it's it's Tom's bucket list trip or yours. Now let's say your bucket list trip is gonna be like every year about $20,000. Right? Out of $700,000, well heck, you could take three to four percent and fund your bucket list fund. There you go.

SPEAKER_02 17:10

Yeah.

SPEAKER_04 17:11

On a flexible basis. So some years you take the bigger trip, and the other years you'd you know, you'd go uh go to Yellowstone or something.

SPEAKER_02 17:20

Which looked rather crowded in the last picture I saw. So um anyway, yeah, no, I you could go either way. In the long haul, the more sustainable method has been the taking, you know, rebalancing the portfolio and taking the things that are.

SPEAKER_04 17:35

Yeah, but if you're just taking out dividends and capital gains, you are not gonna run out of money. No, it's totally sustainable.

Inherited IRA Moves

SPEAKER_02 17:41

That's true. Uh, from Gold Hill, Oregon. Not familiar, Gold Hill, Oregon, Tara writes Hello, Tom and Don. I have a question about my inherited IRA from my dad of $80,000 that I inherited in late 2022. Okay. I knew nothing about investing, but I knew I wanted to divest myself of the brokerage firm that held it. So I opened a Schwab brokerage account to transfer my required minimum distributions into. So in other words, we're taking from the 80 every year, moving what has to come out over those 10 years into that. Okay, I managed it myself now. Unfortunately, I did sell most of the securities and bought some individual stocks, but also some ETFs like VTI, VO, V O O VXUS. Okay. Between the two holdings, I now have 145,000. That's good. You've gone from 80 to 145 in three years. I guess that's possible.

SPEAKER_04 18:31

After paying taxes.

SPEAKER_02 18:32

Yeah. Uh, but after listening to one of your show episodes, I believe I should have opened a Roth instead of a brokerage account. Now, you can't, unless you have earnings, you can't make a contribution to a Roth, and you can't just move any amount you want from the uh the inherited IRA to the uh the Roth. You can't just take plunk that money in there. That makes that doesn't make sense. You could put any amount you wanted from the inherited IRA into a brokerage account, pay the tax on it, obviously. Um she says there's still a hundred thousand in the IRA, our income is 65k a year, and I'm 67. Should I be opening a Roth for the rest of the IRA distributions to go into? You can only do that, only make a Roth contribution. And I think you can do, is it 8,000 over the age of 50? But you have to have income to do that.

SPEAKER_04 19:23

Yeah, you cannot, you cannot take a traditional inherited IRA, pay the taxes, and convert it to a Roth.

SPEAKER_02 19:32

No.

SPEAKER_04 19:32

Not a lot.

SPEAKER_02 19:33

Now you could make a Roth contribution. Yeah, yeah, yeah.

SPEAKER_04 19:36

That's totally different. You can take out your one-tenth of the portfolio or whatever it is now, uh, and from that, if you have earned income, make a Roth contribution. But that's a totally different thing. If you were thinking you could have converted this to a Roth, no, you couldn't. You're doing it the right way. Now, the only gripe I have is with this amount of money, why so many funds? And what are you trying to accomplish by picking the indexes?

SPEAKER_02 20:04

Well, now I'm a little curious.

SPEAKER_04 20:05

If you're trying to manage your own portfolio and decide I want to be this much in U.S., this much international, or it sounds like it's all U.S., isn't it?

SPEAKER_02 20:12

Yeah. Well, VTI, V O, V O O, V X U S, V X US.

SPEAKER_04 20:16

Oh, V X US, so there's international.

SPEAKER_02 20:18

But then, but then uh Tara writes, I have two holdings. Uh, so I don't know if she's sold some.

SPEAKER_04 20:24

Uh there it's maybe she has tightened it up because that's really all you need. What you need in most portfolios of that size uh are an equity fund and a fixed income fund.

SPEAKER_02 20:36

That's it. That's all you need. That's good advice. Okay, this one, my friend, uh, requires the interweb. So you better get your little chat clawed fingers ready to go.

SPEAKER_04 20:47

My fingers are

Roth Clock Rules

SPEAKER_04 20:48

ready to.

SPEAKER_02 20:48

Doug from Kansas City, Kansas, writes, I heard on your recent podcast that a rollover from a 400 a Roth, pardon me, Roth 401k to a Roth IRA, within the same custodian starts a new five-year clock. Now remember, when you move money into a Roth, and if you take it out before five years are up, you're gonna pay tax on it. But only on the gain, I believe. Um, and then he went on. Uh, regardless of whether you have an existing Roth with another custodian that has satisfied the five-year clock, that has nothing to do with anything. I ran this by ChatGPT as it also applies to me. Chat GPT was emphatic that this is not the case. I posed all the scenarios to it, emphasizing the issue about the custodian. It reviewed multiple sources and was certain that the newly rolled over Roth IRA will have satisfied a five-year clock in the situation. I thought you and I looked into this during one show recently and we found that, yeah, there's a weird anomaly. If you're taking it from a Roth 401k and moving it into a Roth IRA, that it does start a new five year clock, even if it's the same custodian. I think that's what we looked at, but I I could I didn't have time to research this again before the show today. Well, I count on you to know these things, so I have your Remember? I don't remember it. It's a very specific and weird rule. And at the time we thought, that is strange, but that's sometimes the government does weird things.

SPEAKER_04 22:09

Uh yeah. Yeah, actually, um, it's weird. If you have an existing Roth IRA and you roll a Roth 401k into that existing Roth IRA, the five-year clock, original five-year clock for that Roth IRA applies. The rollover does not restart.

SPEAKER_02 22:30

So if you've had that for 10 years and you move the money in, done back. You got it.

SPEAKER_04 22:33

Yeah. But if you're never had a Roth, a new clock begins on January 1st of the rollover year.

SPEAKER_02 22:40

So if you're even if you're all your money's at Fidelity and you're taking it out of a Fidelity 401k and moving it to a Fidelity Roth IRA, the five-year clock starts again. Right. Yeah.

SPEAKER_04 22:50

Right. So it's really weird. Yes, it's really weird. The years in that Roth 401K do not count toward the new Roth IRA's five-year clock. But if you already had one that's five years old, you're good.

SPEAKER_02 23:08

That literally makes 110% no sense. But it I think again we we touched on this earlier.

SPEAKER_04 23:14

Um let's see. It's two places that work this out. Um the the Congress and the executive branch work this one out. Oh, that's a lot of consequences. Okay, the the three people who are left at the IRS work this out, apparently.

unknown 23:29

Three people.

SPEAKER_02 23:29

I hope they're kind to my return.

SPEAKER_04 23:32

Uh do they even have time to look, really?

SPEAKER_02 23:34

Probably not. Um this comes this is a question from And by the way, that's just a withdrawing earnings tax-free. Yeah.

SPEAKER_04 23:41

Just the earnings part.

SPEAKER_02 23:42

Correct. Yes. You can always take back the original. Uh from Wilbraham, Massachusetts. Do you know the city? Willbraham? Okay.

SPEAKER_04 23:51

No, I don't even know that you're pronouncing it right, but okay.

SPEAKER_02 23:53

Probably not. Probably not. So I apologize. Dan, I'm going to just apologize ahead of time. Uh, he says I prefer to remain anonymous, but you can read my question. All right. I mentioned your first.

SPEAKER_04 24:01

We don't give anybody's last name.

unknown 24:03

No.

SPEAKER_02 24:03

Now we do give out everybody's phone number at the end of the show, but that's a whole other thing.

SPEAKER_04 24:08

But we don't figure anybody's listening by then because they've gone through the disclaimer.

401k Withdrawal Options

SPEAKER_02 24:11

They listened to Don's song, and that was enough. Says I've been listening to your podcast for a few months. Absolutely love it. Appreciate that. I believe you is always your sincerest advice based on decades of experience. Well, you got that part right. On to my question. Planning to retire in the next couple of years and will be supplementing my pension by taking distributions from my 401k to travel and live a little better in retirement. Wow, that's great. The only distribution option in the 401k requires that all distributions be taken a proportionately from investments in the account. So in other words, if you have five mutual funds and you want to take a distribution, you've got to sell the same proportional amount in each one.

unknown 24:49

Okay.

SPEAKER_02 24:49

Which I find weird.

SPEAKER_04 24:50

But I would imagine the administrator handles that.

SPEAKER_02 24:52

Yeah, but that's a weird so it is his point is I'm sh just guessing this common or maybe a common requirement. I've never heard of it, but wondering if you can confirm that. I don't know. Um it doesn't matter because if that's the plan you're in, um I think of as a significant limitation. That's Dan's word, and I agree. Wondering how to approach the investments and distributions with this in mind. Oh, he'll also be using the rule of 55, which means he'd be taking out an even amount every year. So um what do you think about leaving the 401k money invested in a target date fund where it'll be invested in the market?

SPEAKER_04 25:25

Yeah, I was just gonna I didn't see the question. I was gonna say just put it in a target date fund.

SPEAKER_02 25:30

Then you don't run into any issue because it's one fund, it's balanced between stocks and bonds. Yeah, that's good. I think that's a good thing.

SPEAKER_04 25:36

Yeah, and by the way, I just did some checking, and it's actually pretty normal. Is that right? Yeah. Plans don't aren't required to let you pick which funds get sold. The the that's the plan document.

SPEAKER_02 25:48

Um I can go in and sell everything in mine in five minutes.

SPEAKER_04 25:51

Yeah, but some require proportional distributions among all the different uh uh So normally normally what we would say is just move it to an IRA and do that.

SPEAKER_02 26:02

But in this case, if you're gonna do the rule of 55 there, do that, yeah.

SPEAKER_04 26:06

But go for a target date.

SPEAKER_02 26:07

Yeah.

SPEAKER_04 26:07

And and again, it's not to you, it shouldn't be that difficult because it is the administrator who's going to you're just gonna say give me X and they're gonna liquidate, and it's there's no taxable event occurring, so it doesn't really impact you. It you keep your same balance.

SPEAKER_02 26:25

Yeah, that's exactly right. So no. I think you have a very good solution. Figured it out on your own, but we're glad to take your question, and we're glad to take all of your questions, so keep them coming. They've been really great lately.

SPEAKER_04 26:36

Lots of questions for Tom. He's uh he's really he's every time he trims the shrubs now, he figures he's got a remain paper ready to be printed.

SPEAKER_02 26:45

Um, yeah, yeah, yeah.

SPEAKER_04 26:48

You're you right now, yeah, I can see why. You got a lot of paper

Free Help And Music

SPEAKER_04 26:52

there. Uh also if you need some help and people have said, oh come on, you don't really do this for free without trying to pressure us into buying something. Yeah, yeah, we do. We we do. Ask anybody who's ever done it. They'll say, Yep, they did. Uh we just like helping people. Now we like getting paid to help people too. I mean, we are Americans after all. We are humans, after all. Uh, but we will help for nothing, and you can do get that help by going to talkingroll money.com, clicking on the button that says meet an advisor. You can even meet with Tom, although why would you want to?

SPEAKER_02 27:29

Because you get all those good dad jokes and silly stuff. And there's no added cot no added charge for that. Yeah, but you never know when he's there. Good point.

SPEAKER_04 27:38

So anyway, go there, go there and do stuff. And by the way, if you want to listen to all the show music that's been used so far, go to talkingroomoney.com in the right-hand column, just uh it says what I I want to, and then you go, Oh, I want to listen to the music. Click that.

SPEAKER_02 27:53

Has anybody done that?

SPEAKER_04 27:54

Yeah, about uh 22 people.

SPEAKER_02 27:57

Okay, now I'm worried about not just you having too much time on your hand, them, they have too much. If you're listening to Don's music downloads, come on. You're adding it to your mixtape? Give me a break.

SPEAKER_04 28:07

Yeah, I guess you could. I I I've I've now made uh four full-length money songs, and honestly, I'm thinking about putting it out as a as a uh talking real money music album. Waiting for the Grammy nominations are coming out soon. So we'll press that in vinyl. We'll do green vinyl. Yeah, money vinyl.

SPEAKER_02 28:29

Perfect.

SPEAKER_04 28:30

You know, an off-green.

SPEAKER_02 28:31

Let's get it nominated. Let's go. Come on.

SPEAKER_04 28:33

Yeah. Maybe we could get maybe we can get a platinum album to put on the wall. That'll never happen. Anyway, thanks for being here. We appreciate you. We hope you'll tell a friend or two or ten. And uh, if you missed anything in the music, just you know, back to the beginning and listen to the song again because it talks about today's topic. And listen every day because you have no idea what the next genre might be. And in addition, in addition, there's that important thing that we do, which we call Talking Real Money.

SPEAKER_01 29:04

The opinions and views expressed on this podcast were current on the date recorded. Opinions, estimates, forecasts, and statements of financial market trends that are based on current market conditions constitute our judgment and our subject to change without notice, including any forward-looking estimates or statements which are based on certain expectations and assumptions.

SPEAKER_00 29:18

Although information and opinions given have been obtained from or based on sources believed to be reliable, no warranty or representation is made as to their correctness, completeness, or accuracy.

SPEAKER_01 29:27

Information presented on the podcast is not personalized investment advice from Oppello Wealth. The views and strategies described may not be suitable for everyone. This podcast does not identify all the risks, direct or indirect, or other considerations which might be material to you when entering any financial transaction. Past performance does not guarantee future results, and profitable results cannot be guaranteed. We hope you realize that the information provided on Talking Real Money is for informational, educational, and hopefully enjoyable purposes only. The podcast is not trying to get you to buy or sell any financial products or securities. Instead, the program is provided as a public service by Appello Wealth, a fee-only registered investment advisor.

SPEAKER_00 30:00

See Appello Vote ADB to A on our website for information regarding Appellate's fees and services.

SPEAKER_01 30:05

Appello Capital, LLC DBA Appello Wealth, is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in the states where it is properly registered or excluded or exempt from registration requirements. Registration with the STC or any State Securities Authority does not imply a certain level of skill or training. Appello does not provide tax or legal advice, and nothing either stated or implied here should be inferred as providing such advice. Thanks for listening, and please visit talkingrealmoney.com for more information and important disclosure related to performance of any specific index or fund quoted in this podcast.