A Wiser Retirement®
From retirement strategies to investing tips and financial planning guidance, our goal is to empower you with the knowledge you need to make smart financial decisions. Join us every week as we simplify complex financial topics, share real-life success stories, and guide you on your journey to financial freedom!
A Wiser Retirement® Podcast is produced by Wiser Wealth Management, based in Marietta, Georgia. We specialize in Comprehensive Wealth Management and Financial Planning Services. To learn more about our services, schedule a complimentary consultation to meet with one of our fiduciary financial advisors: https://wiserinvestor.com/schedule/.
A Wiser Retirement®
225. Will the 2024 presidential election influence the stock market?
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
Will the 2024 Presidential election influence the stock market? On this episode of A Wiser Retirement®, Casey Smith is joined by Andrew Pratt, CFA, CBDA, to talk about how the S&P 500 performs depending on which party is in office and how the market performs with a divided Congress. They also compare stats on how the market performed when Trump and Biden were each in office.
Related Podcast:
- Ep 169: How the 2024 Election Will Affect Your Portfolio
Related Blog:
- How often should you check your investments?
Learn More:
- About Wiser Wealth Management
- Schedule a Complimentary Consultation: Discover how we can help you achieve financial freedom.
- Access Our Free Guides: Gain valuable insights on building a financial legacy, the importance of a financial advisor for business owners, post-divorce financial planning, and more!
Stay Connected:
- Social Media: Facebook | Instagram | LinkedIn | Twitter
- A Wiser Retirement® YouTube Channel
This podcast was produced by Wiser Wealth Management. Thanks for listening!
Market Analysis and Industry Recognition
Speaker 1When the Democrats have been president, it's been analyzed return of 15.7%. And then, you know, when the Republicans have been president with a divided Congress, it's been 12%. So those are the best scenarios Again. Just the market views it as less uncertainty because they're these again, lack of a better word. Extreme policies are very unlikely to get passed.
Speaker 2Welcome to the Wiser Retirement Podcast, where we believe the best financial advice should be conflict-free. I'm your host, casey Smith, guiding you to financial freedom. Today is my co-host, andrew Pratt, king of Data. Hello, andrew. Good morning, casey. So, man, you got something big coming up. We talked about this in our last podcast with Robert, but you're going to be on the big stage here pretty soon. Yeah, in Austin, texas, like everybody in America is moving to Austin, yep, except for me. Well, most people listening to this podcast are probably not moving to Austin. It just seems like many are. There's actually a U-Haul tracker that an investor does, that tracks where U-Hauls are going across the country and more, and it does it by the rate right, so there's more U-Hauls going into Austin than anywhere else. Isn't that crazy? Yeah, it's crazy. But you're going to be on stage with a guy in our industry who's probably, like I guess, the biggest RA in the country, rick Elderman, and you're going to be talking about what?
Speaker 1We're going to be talking about modern portfolio theory and digital assets and how to incorporate that, you know, into multi-asset portfolios. From what I've been told, he's going to moderate I guess things could change, but it'll be myself and a professor at the University of Texas so I think what they're going for is kind of a back and forth dynamic of a real life practitioner and a academic, and it's not like we're going to be debating, but we submitted various questions and I think Rick Edelman is going to moderate and just kind of you know set us up.
Speaker 2That's cool, man. I'm excited for you because I was. I was on that stage at one point when they were talking about ETFs. Can you imagine that uh, back in back in uh 2004,? Uh, five, six, seven, that that era, uh, we were on some pretty cool uh stages, situations, cnbc, that kind of stuff that that uh talking about? Um, do you have any?
Speaker 1of those recordings.
Speaker 2Yeah, so we probably do somewhere. They're probably out there deep, but but yeah, that that that's really cool. It it's one thing I love about Weiser is our ability. You know, I kind of look at us as as as we're powerful, but we're like a speedboat where these really really large firms are. Firms are nice, but they're more like the huge mega yachts right, and it's really hard to turn them. It's really hard to switch direction and pivot, because there's, honestly, these really big firms now are really they didn't actually grow to be that big. They acquired other companies and so it's like you have a bunch of stepchildren right.
Speaker 2You got to get everybody on a different, on a different page. Everyone's not really either. Yeah, correct, so you have to get everybody on the same page. That that typically is used to marching to their own beat and it's it's really hard to guide that ship. So, really at a at a large RAA, you end up with a bunch of small companies inside, really inside a big company.
Speaker 2Right and so I'm I'm really proud of you and your hard work. Uh, in the crypto space, you have a um, uh, new certification around digital assets as well. We talked about that a while back ago, but, uh, that's exciting. Uh, so thanks for raising the wiser banner. Uh, we're not going to get clients out of that, obviously, but, but I think it's a great feather in a cap and it shows that we're experts and what we're doing, especially at the. That's probably the best digital asset conference in the world at this point for for registered investment advisors it is.
Speaker 1There's some big names there, for sure.
Presidential Elections and Stock Market
Speaker 2Yeah, that's cool. Well, let's get into something probably more controversial than a Bitcoin right now and let's talk about presidential elections and how do they influence the stock market. So this one coming up. I've been dreading this. I think it's been pretty quiet. Honestly, yeah, so far now I don't follow political news because there's no value in it, zero it. All it does is get you riled up and half the stuff you read is half truce, right, right. So I don't want to get riled up, I don't need to increase my heart rate, so I kind of avoid all that at this point. But there's this undertone amongst, I think, our client base and just people in general that we don't want to seeing we meaning they, they don't want to making changes to something in their life right now because you know Biden just really ruined this country or because Trump might get elected or because you know all these different things.
Speaker 2Now, there are a lot of things that a president changes Right. There are climate policies and tax, reform Tax reform. There's a lot of things, but I'm only talking today. We're only talking today specifically about your portfolio. So, when it comes to stocks and bonds, what does it really matter?
Speaker 1So you know, I think really this can just be summarized into one main point and you just need to stay invested. No matter who's in the Oval Office, no matter what the makeup is of Congress, you just need to stay invested. No matter what the makeup is of Congress, you just need to stay invested. Just looking at some data points going back to when JFK was in office, 1961, the S&P 500 only posted a negative return twice during a president's term. So just take that into context.
Speaker 2The market will Now term is every four years. Yes, every four years. So if they were know, take that into context. The market will. Now term is every four years, every four years. So if they were elected twice, that's two terms right. So it was down how many times.
Speaker 1So you know, during um during two different presidencies I think it was um Nixon and George W Bush um were the market was negative for those periods of time, where the market was negative for those periods of time. So you know, and you cannot forecast that. You just need to stay invested and ride the course, no matter who's in the office, no matter what the policies are. I think that's really the main goal and we do have a graphic here that we can point to.
Speaker 2Yeah, if you're watching this on our YouTube channel. Ay is a retirement, you can see this.
Speaker 1Yeah, and it might be a little bit hard to see, but you can see at the bottom the different presidents and their cumulative market performance over their president's tenure. And George W Bush, he was at negative 36%. And Richard, let's see where's Nixon. He was at negative 38, 36 percent. And, uh, richard, let's see where's nixon nixon was at negative 919 negative 20 percent so that's interesting.
Speaker 2Um, we don't think about president johnson much, but it's up 46 percent, right? Uh, obviously, the the winner is going to be newt gingrich and bill clinton up 209. That was two terms, right, uh, bush had. Bush had, um, uh, let's see. Yeah, well, this, the first bush was up 51. Second bush uh, down 36. That's because of the financial crisis, yeah, so you could argue that it was the last year of his presidency last six months. Really, yeah, he kind of got a a bad rap. It was the last year of his presidency the last six months. Really, yeah, he kind of got a bad rap.
Speaker 2It was very positive up to that point, and then Obama got the rebound but he didn't get the rebound.
Speaker 1So Obama was up 181% during the Obama administration Semantics there.
Speaker 2Trump, even with the COVID crash up 87% Because COVID was down 30-something percent.
Speaker 1Yeah, I think that's 67%. Oh, 67%, I'm sorry, it's a little, a little hard to see, but um, but yeah. Again, we don't know when recessions are going to occur. We don't know what's going to happen in the business cycle. Again, you know, you just need to stay the course, stay invested. That's the most important thing, yeah.
Speaker 2Another thing on this graph, too, is very obvious is the lost decade, and that's between 2000 and 2010, where everything was kind of flat because of you had the financial crisis, you had nine, 11, you had Enron, you had a lot of stuff between 2000 and 2010. But other than that, um and honestly, you could argue that if you were buying those dips during that lost decade, you made a fortune.
Speaker 1Yeah, definitely Two. It's during recessions. It's easier to get out, but it's also harder to invest back into the market, and I think a lot of people you know. And again, it's two different calls. You have to make two If you're trying to time the market. You have to sell at the right time and also buy back in the right time, and that's just really hard to predict.
Speaker 2What people always say is I'm going to get out at this level and it, and then I'll buy back in when it comes back to that level, right, and it's almost impossible to make that happen. You have to remember that the market opens and closes at different values. So if it closed at 10,000 and it opened the next day, it could open at 12. Right, I mean, we saw that during during all the crises, right, but it'll this thing called the futures market. It was just constantly trading and you're not buying into that with your ETFs or already any other mechanism as a normal investor. So you can't say, okay, I'm going to buy back in at this. And also, two different asset levels move at different, different paces, right. So you, you they're looking at the Dow, but on TV, but you're no more NARC firms really invested in the Dow. I don't know. Anybody invests in the Dow, honestly, not really Everyone, who usually just invest invested in the Dow.
Speaker 2I don't know anybody invested in the Dow? Honestly, Everyone usually just invests in the S&P 500, not the Dow.
Speaker 3So you're looking at the.
Speaker 2Dow, trying to time your in and out of the market, and that's not even what your investment is. So then you have to understand the S&P 500 and its metrics, but then the S&P is moving different than small caps, moving different than bonds, so it doesn't work the way that people think that it does. Um, as far as try to time time something, definitely so, um, so what is tell me you have a little research on this the most prudent investment strategy?
Speaker 1So you know, going back to sort of the timing aspect, you know if you're trying to time the market around who's in the Oval Office, you know just say whether it's Republican or Democrat office. You know, just say whether it's Republican or Democrat. This research looked back, going back to 1950. And if it was, if you just were invested, let's just say Democrat, if you were just invested in the market when a Democrat was president, and then just say you were in cash, you moved into cash when a Republican was president, you would have your annualized return would have been about 5%. Now, if you did that as a Republican was president, you would have your annualized return would have been about 5%. Now if you did that as a Republican, your annualized return would have been lower at 3%.
Speaker 2So basically, if you buy, if you invest only in Republican presidents, you're only up three annualized year over year, and you're up five if you invest in Democrats.
Speaker 1Yes. And then if you just stay invested, agnostic to whoever's in the office, in the Oval Office, your market return would have been 8%. So again another point to just ignore politics, right.
Speaker 2But think about. Okay, so let's figure out. Why, though? Because if Democrats are five and Republicans are two, you think the average of that would be somewhere between five and two, not not higher at eight, right? So you think that's loss of dividends? Possibly, cause that's about what the yield would be. Yeah, yeah.
Speaker 1Probably Loss of dividends.
Speaker 2So you didn't. You didn't collect income because you're sitting in cash somewhere else.
Speaker 1Yeah, yeah, I mean, and this was closer, so Republicans was 2.8 and Democrats was 5.1. So that's closer to that eight, but yeah, I think it's just again probably the timing metric too.
Speaker 2Oh, that's right, Cause you're sitting out, for you could be sitting out for eight years and you would. You would miss the Clinton years, which is skewing that 5%. Yeah, obviously, definitely Okay. So what about Congress? Definitely Okay. So what about Congress? Does the market perform better if only one port party controls Congress?
Speaker 1So the short answer is no. You know this may sound counterintuitive, but the market likes and you know, investors, analysts, whatever they like a divided Congress, meaning whether it's not just an all-Republican or Democrat Congress. They like Congress at split because that means it's less likely for any and I hate to lack for a better word extreme policies to get pushed through. And that rationale you know, and that, and you know that rationale, it's less uncertain, there's less uncertainty because of that. So in this case, a divided Congress is, you know, more certain and provides less uncertainty are you curious why annuities keep coming up as a potential investment option?
Economic Planning and Market Psychology
Speaker 4people are often told that annuities can effectively mitigate investment risks and help secure their financial future. However, annuities often benefit the salesperson and might not be the best choice for you as a consumer. To learn more about the various types of annuities, the negatives of owning them and better investment alternatives, we have a free ebook on our website just for you To download our ebook. Buyer, Beware, why Do they Keep Trying to Sell you that Annuity? Simply click the link in the episode notes or visit wiserinvestorcom slash guides. Now let's get back to the episode.
Speaker 2I mean that makes sense, I guess. I mean that's exactly what you had during the Clinton years. You had a Republican Congress and you had a Democratic president Right and Clinton sounds, if you look at Clinton's presidency, for the most part, at least economically speaking, he was more Republican now than some Republicans. Yeah, exactly, Much more tame economically back then. Okay, so what's our rate of return?
Speaker 1So, and you know, when I say divided Congress too, this is not just this is house and a Senate, it's not just the entire Congress, um so, um. So in these scenarios where the house and the Senate are divided, you know, during the Democrat, when the Democrats been president, it's it's been analyzed return of 15.7%. And then when the Republican's been president with a divided Congress, it's been 12%. So those are the best scenarios Again. Just the market views it as less uncertainty because these again lack of a better word extreme policies are are very unlikely to get passed.
Speaker 2So let's bring it back to modern day. So right now we've got Trump versus Biden, with maybe a third party candidate.
Speaker 3We're waiting to see if he gets enough votes, RFK right.
Speaker 1Yes.
Speaker 2Waiting to see if RFK gets enough votes to be able to be on the debate stand, and in order to do that he's got to be on so many ballots across the country. His people say no problem If he shows up. I think the other two parties would be very surprised, Sorry. So let's look at Trump versus Biden. And now, obviously Biden's term is not over, Right, but we can take it through the end of last month, 331-24. What's our difference?
Speaker 1Yeah. So just again, analyze return during each of these presidents' term. Biden, going back through March of earlier this year, Trump's analyzed return was 16%, which might be shocking to hear, and then Biden's analyzed return during these timeframes was close to 12%. So again, very solid returns for both different political parties.
Speaker 2Yeah, with a lot of economic drama, you know, in the middle of all that too. Yes, definitely, the post-election period was both positive. Day after election, trump up 1%, biden up 2%. Two months after, through inauguration, trump was up 6.2%, biden was up 14.3%. Now that's coming out of COVID. Well, it's actually happening there. Yeah, now that's coming out of COVID. Well, it's actually happening there, yeah.
Speaker 1Yeah, and that's really just kind of you know, again it's going back to the market having less uncertainty. It's now the market can, you know, think forward and sort of just react to what the expectations are going to be, you know, after the election result election result.
Speaker 2So really, what it comes down to is you've got to trust your, your planning process. So when we think about financial planning, we're running all of our clients through a thousand different stock and bond market performances. So, out of a thousand, and these are being predicted in the future. This is not looking at historical, so we're trying to predict where asset classes are going into the future and we're running a thousand different models and coming up with the median right that's the highest probability of success. So we want everyone to have an 80 plus percent chance of not running out of money before age 95. Now, because the planning process is so conservative, that's fine. Because we've already baked into our, our models, a complete revisit of the financial crisis, where the market was down nearly 60% from peak to trough. So that's built into our plan. So every plan has to pass that test in order before it can even get to the thousand different variations. So once we know that, then we create a safety margin inside the portfolio. This is the money that's left over when you're age 95. And that could be well. It's going to be very different for each family, but inside that safety margin is your financial crisis cushion, and so when bad things happen in the marketplace, when we get concerned, we go back to those models, we reboot the engine, we run it again and it doesn't really change much. And that's the part that people have to understand.
Speaker 2You also carry a lot of cash as a retiree. Two years worth exactly of what your income need is Now. If it's coming from social security, you don't need to count that. If it's coming from a pension, you don't need to count that. But certainly if you're pulling it from your portfolio, you should keep two years worth. And then, if the market is down because something economically is happening, you have two years worth of withdrawal before you ever have to go into any of your investments. And then the good news is, man, that cash now is paying over 5%.
Speaker 1So you're making 5% on the cash reserve now 5.2 exactly.
Speaker 2And then you're you're also getting dividends of your investments and then you're also going to have cash on your own for emergency reserves. So that that's how you build this. You're not. You don't to be a successful investor. You're not trying to time the markets and I just don't feel like this is good or this is markets at a high. I need to get out.
Speaker 2That's all very short term, um, wealth killing, uh, thinking right that that happens with that. So in the end you you have to have a good plan. It's no different than sports. If you tried to take a professional team and you went out there and say, all right, guys, let's go win, you know, and then it started going bad and you start substituting players and no, you have a game plan. Sometimes your game plan works, sometimes it doesn't. In sports, the good news is, in finance it's a lot easier. Yeah, so it's.
Speaker 2It's um, you know, it's human nature. We there's all kinds of books on on, like the psychology of money, but in fact that's a good book itself. There's just a title. But the the concept here is is is our fight or flight nature. It comes to work against us when we're building things and also too, if we, if we think about something long enough, we believe it to be true. That's another bias that we have as humans. So if we think long and long and hard, then we think, okay, that must be right. And I've used this example before, but I've had a family member ask me one time you know about chemtrails, right? No, there are no such thing as chemtrails. Delta Airlines is not pumping chemtrails for the government into the atmosphere. But people believe that there is a large group of people who believe that there's chemtrails, because what else is coming out of the engine?
Speaker 2Well, that's really cold air hitting a really hot engine and it's passing through, it's getting sped up as it goes through the blades. It comes out the backside and guess what? You create moisture. Right, it's called science, that's. It's called science. That's how that happens. But people have thought about it, who have don't have the education and the knowledge, and they think, oh no, they're definitely putting chemtrails out there.
Speaker 1Everything has to be conspiracy these days.
Speaker 2Yes, it's just like the nine 11 conspiracy theorist people. It's like I was on this website many years ago and I was like you know what it shouldn't be on this website, cause you know, ip addresses are followed, right, but but their whole thing was like nothing ever hit. It was a rocket that actually hit the Pentagon. So you watch the video that's their proof and all you see is like a nose of a plane right, I can identify a plane and then all of a sudden, the thing's blowing up. Okay, this is if you're looking at it. This is the simplest example is that when you know something about cameras, which I know a little bit about, there's frame rates and that was a super old security camera and you know, you see this like when you robbed a liquor store and the guy's like the guy's like walking, he's here.
Financial Planning and Market Insights
Speaker 2Then he's all of a sudden like five steps ahead, five more steps ahead and then he, he's, he's like aiming the gun, and then you know it's just like all well, that's what that camera was. It just had a really low refresh rate and you hit a really fast moving airplane. Unfortunately, that that, that's all that was, but that was our smoking gun. And you and again, people with lack of education. So this is where financial planning really comes into play, because financial advisors like what we have here at Wiser, we have the education to be able to educate you. Now, unfortunately, most people just go yeah, we trust you guys, and that's as far as they want to go, but occasionally we have the engineers and the pilots. I want to know more and I love those meetings because I feel like we can really explain what we do and why we do it this way. We had a pilot recently kind of take us to task over over something, and I was like, oh, this is great. I think I've never been challenged this way before.
Speaker 2So let me show you the data behind all this and, yeah, very easy, easily able to show why this was the best strategy. But but yeah, if you think about it long enough, you think that the president controls the stock market directly and in some sense they probably could. If they were just completely negligent, there's probably ways that they would destroy a lot of wealth in the country potentially, but I don't know that we could have. We don't really have dictators here. A we don't have really have dictators here, you know.
Speaker 1No, I mean, and you know every, you know whether it's a more lenient tax policy with the Republican side or more stimulus pro-economic inflation act on the democratic side. I mean, I feel like each president has kind of um, you know different policies that do sort of help and support the markets in different ways and you know maybe some counterbalance that. Or you know if I guess a concern is Trump kind of getting in Jerome Powell's ear and sort of making the Fed, you know more kind of political.
Speaker 2That may be uneasy back then. Yeah, are you challenging?
Speaker 1the Fed directly.
Speaker 2This People don't do this.
Speaker 1But the Fed's been pretty, you know, and Jerome Powell's been there for Trump and Biden now. So they like to remain, you know, neutral and that's their goal is just to combat inflation. But, yeah, you know, I feel like, no matter who's in office, there are, you know, different policies that can hurt and help the market, but we, but we have a free market.
Speaker 2Capitalism in the U S is a free market, and so as long as capitalism can do what it needs to do right. You know, if you put a soda tax and you taxed soda to the point where no one was buying it and Coke was suffering, then so does the Coke's on an innovate and different product to make money with. I mean, that's the beautiful thing about the free market system is that people are going to find ways to make money.
Speaker 2Yeah, even if they have to go sell soda everywhere else, but the U? S they still make a ton of money because there's more people who don't live here than the people that live here, right? So there's always ways to make a dollar, and then we have really smart people in this country that figure that out.
Speaker 1Yeah, and you know, for instance too. Another point would be like a lot of these big companies, like Coke, they're multinational companies. They have a chunk of their revenue coming from overseas. So I mean, if there's some restrictive policies that are passed here in the United States, they could maybe focus more on their international markets. You know, I think the S&P 500, I think it's about 40% of its revenue is coming from international markets.
Speaker 2Yeah, yeah, I think I'd say higher than that actually, but it might be a little bit higher, but yeah.
Speaker 2so the bottom line is you can create a lot of anxiety in your own head over all this and I would encourage all of our listeners as we go through this political season to understand that. You know, as a famous quote here is you know, the markets in the short term are a voting machine. They're going to move with emotion, but in the long term it's a weighing machine. Right? William Bernstein said that. So the long term it's a weighing machine. Right, william Bernstein said that. So in the longterm it's a weighing machine. So only the companies that make money survive.
Speaker 2That's where it really comes down to, and that's the beautiful thing about investing. When you invest in longterm, healthy asset classes like the S&P 500, you've eliminated that specific company risk. Now you can focus on these charts that we have up in this podcast post. All these charts are moving up very aggressively from the left to the right, with some nastiness in the middle. There's no doubt about that. We went through some stuff over the last 20, 30 years in this country, but the markets all bounce back. You know why? Because all these companies made money. That's what it comes down to Every one of these companies making money. If they're not making money, they go out of business.
Speaker 1Yeah, and it's, and then it's an index and the index is efficient because you know it's the 500 largest companies, so it in order to get in there, they have to have made money Right.
Speaker 2And then they'll kick out the ones that aren't making money, right, and then they'll kick out the ones that aren't making money Right. It's a self-healing index, right? You know people say, oh the S&P don't invest in that because it's only the top seven companies that are carrying it. Yeah, it's based on market cap. Those are the winning companies. We talked about this before. I don't know if it's on the podcast or maybe it's one of our meetings, but those top seven companies have more cash on hand. Seven companies have more cash on hand. What? What do we determined? Uh, apple had in our conversation, wasn't it? Um, trying to remember uh 400, was it 400?
Speaker 2Uh, it was in the billions, wasn't it? Yeah, I mean they have. Is it 40 billion? It was a lot of money 140 billion I think it's what it was. It was a lot of a lot of cash. You think about that. You know you have an. You have billions of dollars in disposable cash in your company. You can create whole new verticals 73 billion, 73 billion. Apple right now sitting on $73 billion in cash.
Speaker 3I mean if they wanted to create a car company.
Speaker 2they literally have the money to do that and they've they've axed that concept. But what else are they developing that they would continue to be the largest market share in the country.
Speaker 1Yeah, I mean, I know that there and they've got. They've received some criticism for not jumping in on the artificial intelligence space, but I I think it was maybe a couple of weeks ago they did announce that they're looking into making their own chips um, chips um for art of artificial intelligence products. Um down the road. So I think their stock has been performing well lately, but you know they're um, you know, say what you want. About Apple, they're always very cautious and prudent with how they use their cash and make investments, so they're not going to just jump into an area just because that's the hot theme right now, right, right. But the point is, is that they have the ability to do this? Yeah, they're able to be nimble and navigate, right.
Speaker 2Even the other six companies are top in the S and P right now. I wouldn't say that any of them are fly by night or had the capable of going business out of business tomorrow. Right, they and they all have a tremendous amount of cash. So the bottom, the bottom line here is don't don't create your own anxiety about all this. In the end, we all want our sports teams to win, we all want our political candidates that we choose to win, but in the end, what I want to win is the free market system and the ability to create companies, and right now, this is the only place in the world that you can go and create companies, uh, and and live out this American dream Exactly. So, all right, thank you. Good luck, uh, at your conference, uh, next week and two, yeah, I guess it's two weeks, two weeks from now.
Speaker 3Two weeks, all right.
Speaker 2And we will. We're sending Robert with you, so he said he would do a live feed. He'll keep me in line, he'll keep me in line.
Speaker 1Yeah, he'll keep you in line.
Speaker 2Well, we'll see if we can get a live feed. I told him we'd either get the video back we'll embarrass you or we'll celebrate you. Yep, all right, thanks, andrew.
Speaker 3Thanks for listening to a Wiser Retirement Podcast. We hope you enjoyed today's episode. Make sure to subscribe wherever you're listening. That way you don't miss any new episodes. We'd also appreciate if you could leave a rating and review. If you have any questions about anything that was discussed today, head to wiserinvestorcom and reach out.
Speaker 3This episode was produced by Rachel Dotson. This podcast is strictly for informational purposes only and is not to be considered as investment advice or solicitation to buy or sell any financial products, securities, digital assets or any other investment vehicles or a basis to make any financial decisions. Wiser Wealth Management Incorporated is a registered investor advisor with the SEC. The host and or guests may personally own securities, digital assets or other investment vehicles mentioned on this podcast. Neither the host nor guests of the show are compensated for their participation and no referral fees are paid to or received by any host or guest for clients, listeners or similar interests. Investments involve risk and, unless otherwise stated or not guaranteed, be sure to first consult with a qualified financial advisor, tax professional, insurance professional and or legal professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
.jpg)