March 24, 2025 • 15 mins
Whether you are a novice when it comes to money or a confident investor, financial advisor Frank Buchholz offers a proven blueprint for sustainable wealth building through small, consistent actions in THE INVESTOR’S GOLDEN PLAYBOOK: 12 Rules for Achieving Real Wealth. Frank J. Buchholz is a retired senior vice president and financial advisor with over 40 years of experience. During his career at Merrill Lynch, he earned prestigious accolades like the Directors Circle and Circle of Excellence.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Welcome to Get Connected with Nina del Rio, a weekly
conversation about fitness, health and happenings in our community on
one oh six point seven Light FM.
Speaker 2 (00:12):
Thanks for listening to get connected. Whether you are a
seasoned investor or a novice, our guest offers a proven
blueprint for sustainable wealth building through small, consistent actions. Financial
advisor Frank Buckholt's book is the Investor's Golden Playbook, Twelve
Rules for Achieving Real Wealth. Frank Buckholtz, thank you for
being on the show.
Speaker 3 (00:33):
Well, thank you, enviroment. I appreciate it. Thank you so much.
Speaker 2 (00:35):
Frank J. Buckholtz is a retired senior vice president and
financial advisor with over forty years of experience. During his
career at marilynch she earned prestigious accolades, including the Director's
Circle and Circle of Excellence. I think the first thing
to kind of get a handle on is maybe your
perspective on what makes a successful investing mindset, What does
(00:56):
a successful investor do well.
Speaker 4 (00:58):
The first thing a successful invest to do, of course,
is to have a fairly good grasp as to what
investing is all about. And I found that over the
years that most people I talked to really didn't have
a clue when it came to invest in their money,
what to do, how to do it, what's this?
Speaker 3 (01:14):
What's that? They had no no, no.
Speaker 4 (01:17):
Clue about risk tolerance, time, horizon, tax bracket, any of
the basics of course, like good company investing. So the
first thing they do is have some grass about bond investing.
That's when my book, The Investors Goal and Playbook, I
try to make it simple and zero went on the
basic key facts of bond investing and also include real
life client examples about what people should should be doing
(01:41):
or not be doing it, or what they did and
what they didn't do, et cetera, et cetera. So and
also not make it like a college textbook. So it's
it's it's got it's got a lot of bitess to
it that versus, you know, just a boring drab, you know,
talking about stocks and bonds, et cetera.
Speaker 2 (01:53):
Well, what if the people you talk about at the
beginning I thought was memorable and interesting. Leo, who is
a retiring dentist you worked with. He just loved investing.
He was your only client, as you recall, who made
the bulk of his money by investing in the stock market,
not real estate, not gold, not anything else. What did
Leo do well that others do not.
Speaker 3 (02:12):
Well?
Speaker 4 (02:12):
Leo's philosophy course was to buy when the market was down,
and he also would only buy quality companies as that
long track record, and then of course he would hang
on to these companies who were thick and thin. So
he was the consummate stock investor, if you will. And
he was one of the rare people that could do
it on his own. And he really had this savvy
(02:36):
and knowledge and the interest and the time the expertise
and made it his hobby his bar's investing goes. Most
people don't have the time of the expertise or make
it their hobby when it comes investing, so most of
people need a professional manager alongside them to guide them
in the investment process. But he was one of the exceptions.
And he was an incredible man, my favorite client.
Speaker 3 (02:57):
He lived. He lived almost one hundred and three.
Speaker 2 (02:59):
Oh goodness, good for him. A couple of things you
say in there seem like common sense, but let's talk
about how they can be complicated. And the first one
I'll start with is kind of where we are now.
You said he would buy low. He would hold onto things.
Right now, we are living through this moment where people
are kind of wondering is it time to sell? Is
it time to buy? What do we do when we
live through stressful times when you do not know what
(03:22):
to expect? What do you advise? Have the rules changed?
Speaker 4 (03:26):
Well, you know, it's a good question because if you
look back to January of twenty twenty, and let's say
you had a crystal ball and you can see what's
gonna happen over the next twelve months January first, twenty twenty,
you would have said yourself, oh my god, look at
the world's coming to an end. I'm gonna sell really
right now, and I'll get back in with them. Timing
is good. Well, the irony course, is the market for
(03:48):
twenty twenty actually ended up shock of shocks because of
course the government stimulus to try to keep the economy
going and so on and so forth. But bottom line
is the market actually ended up. Now having said that,
I'm a firm believer, and when you buy stocks, you
hang in there through good times at bad times, and
you always have, of course two pounds of money because
(04:08):
you want to have money set aside to live on
for emergencies what have you. And then of course you
also want to have the money in the stock market,
so she can, you know, let that money percolate and
let it grow if you will over time. The interesting thing,
of course, is that every time the market has gone down,
it has always come back to higher highs. Is there
guaranteed to that, No, not a chance, but it has
(04:30):
always come back and gone to higher highs. Now right
now we're living through times that she always say, a
bit challenging, and the market to day courses down again
once it comes again to day, and I'm feeling the
pinsion even in my own accounts. Am my client to
sell anything? No, I'm definitely crying to hanging in because
I've been rewarded through thick and thin over the years
by sticking with it and hanging in there. So I
(04:51):
remember all too well the great Great recession in two
thousand and eight and nine. My four o u K
was pretty decimated, but I did not sell anything, and
I kept contributing to it all in the all along
the way, which of course proved to be very profitable
in the end.
Speaker 2 (05:04):
If you look at a specific company, what might be
a red flag that would prompt you to sell ahead
of the time horizon you had set out for yourself.
Speaker 4 (05:12):
Well, I think if if if a person is doing
their own individual investing, which I'm not necessarily fond of
per se, they're doing their own individual investing. Let's say
let's say you bought you know, X, y Z Industries.
The first thing, of course you want to look at,
of course, is the revenue top line revenue, which of
course is basically sales, and then of course earnings, and
then of course you look at it over time, you
(05:33):
started seeing those deteriorate and real they cut their dividend,
and you like, their credit quality is cut from great
to poor. Those are red flags, and of course you
mayn't consider liquiding at that point in time to move
on to something else. So there's always there's always red
flags out there, and you want to be cognis of
what the red flags gonna be, but particularly the fales,
(05:54):
revenue growth, and earnings growth.
Speaker 2 (05:57):
Our guest is Frank Buckholtz. His book is the Investment
to his Golden playbook, Twelve Rules for Achieving Real Wealth.
He is a retired senior vice president and financial advisor
who had a career at Merrill Lynch. You listened to
get connected on one oh six point seven light FM.
I'm Nina del Rio. You've mentioned financial advisors a few times,
so let's talk about that when do we need one?
(06:17):
Does can a person do as well with an index
fund as they can with a financial advisor.
Speaker 4 (06:23):
I think the financial advisor is very helpful at that point,
providing a lot of guidance. While my book of course
gives you gives a good foundation, it's going to hear
it in person from a financial advisor point of view,
if you will. And of course the index funds, of
course do have their merit, and I have mentioned in
my book about you know, the Tickets of Spy, which
mirrors the stand Imports five hundred index, which of course
(06:44):
is a prometer of how the market is doing. But
I firmly believe that that over time the advisor is
going to give you some help and helpful advice and
also can give you help. And when it comes to
trust and estate planning as well, which is what we
did when I was working, we actually had a trust
officer review by clients trust documents and we could offer
(07:05):
suggestions to them, and this is done at no cost
and they would have to implement through their attorney. But
the bottom line is they got an effect advice from
a professional at no additional costs.
Speaker 2 (07:16):
Then whatsoever, Well, what is the most ethical arrangement with
the financial advisors? People don't always know how they're paid.
Speaker 4 (07:22):
I find Yeah, So basically there's two approaches to advisor.
They can get paid a commission on each transaction. They
call that a transaction based account or a client directed account.
We had a number of client directed accounts whereby a
lot of clients they came to me were already affluent,
they want to preserve they might not grow it, and
(07:42):
so they would oftentimes look to the municipal bond market
to get income off of that and also preserve their money.
And those are client directly because it was much cheaper
than having a managed account over the long run. Managed
account meaning you have a separate outside manager runing your
portfolio for you. Bottom line, of course, is it that
puts the advisor and the client on the same page,
because money has to work for them, and of course
(08:05):
the client can see the first handle what's going on.
Speaker 3 (08:07):
If you will.
Speaker 4 (08:08):
I think another way to look at it, course is
the manage account, whereby if there's a called rap be
associated with that account, and if the account does well,
then of course the advisor makes more money because if
the fee goes up because the account value is going up,
and vice versa. So put them on exact same page.
And that of course works really well for stock investing,
(08:30):
because I think that again, I don't think the average
person has the knowledge and the wherewithal and make it
a hobby to invest their funds in a proper manner.
Speaker 2 (08:38):
It's surprising to me that perhaps only about half of
people who are eligible contribute to their furrow one K
or any sort of retirement account. What are some of
your thoughts about investing in retirement accounts? Some golden rules there?
Speaker 4 (08:53):
Well, the golden rule, of course is do it, baby,
do it. And I mean that not sarcastically. But the
bottom is the fact that the government has given us
a great opportunity here. Imagine you can invest twenty three thousand,
five hundred dollars right now into your four ro O
one K, assuming you can afford that, of course, and
it comes up pre tax money, so it's a big,
big benefit. And of course the iras, of course are
(09:15):
seven thousand dollars currently and of course assuming you don't
make too much money, you know, because there are caps
in terms of how much money you can make on
these But bottom line is the fact that these are
golden opportunities to give me, give me to you by
the government. And I personally I maximize my four oh
one K from nineteen eighty six. Every year throughout my career,
(09:36):
I went to my IRA rollover. After I retired at
the end of twenty one, my IRA account grew to
eight and a half million dollars, So it can happen.
But again I did that because I maximized the contribution,
and there were two every time, one in the stock
market and number three I never sold anything along the way.
Speaker 2 (09:56):
What do you tell your clients about taxes, about how
much which weight do you place on timing trades or
investing around taxes?
Speaker 4 (10:04):
Well, the taxes, of course, were primarily focused when it
came to coming towards the end of the year and
the client would have realized capital gains of whatever the
number would bee, hundred dollars dollars or whatever would be,
So we would try to minimize those capital gains as
much as possible, and we would do that by offsetting
What we'd do is we'd sell a stock in the
(10:25):
portfolio and then we'd buy an exchange rate of fund
in the same industry or competitor that company, so that
way they're continually remaining invested, and then three days later
we would buy the stock back again. That's the course
nessally looking at the taxes after things have already happened.
But we were also very cognizant of the fact that
we'd also look at the account beforehand and determine what's
(10:47):
the best way to go. Is is it going to
be looking at stocks that pay a qualified dividend, which
are courses of reduced rate versus ordin your income, or
minicipal bonds which will find tax for reinterest. So there's
a lot of a lot of talking discussion before we
even start implementing a plan for declient about their tax situation.
Speaker 2 (11:04):
There's a lot of talk now too about things like crypto.
Our crypto ETFs was probably the way a lot of
people are getting into these things at this point. Right
are your thoughts on those well?
Speaker 4 (11:17):
I do like exchange rate of funds because they can
meror the performance of the price of crypto, for example,
or the price of oil or whatever, you know, so
he does give it me the price of gold right now.
So I think the ETFs have a very worthy, very
worthy component to your investment portfolio. Having said that, when
it comes to crypto, I'm not necessarily a fan. I
(11:38):
just think that that what are you're really buying? You know,
you're buying basically an artificial currency. So I'm not really
fond of that. And yes it's gone on value and
so on and so forth, but I put my money there.
Speaker 2 (11:50):
Personally, I tend to think the same thing. At the
same time, we've mostly talked about the stock market in
this conversation. We really have focused on that, but there's
also real estate, commodities, collectibles, watches, jewelry, all these things.
Can you find or do there exist financial advisors who
can help you in those areas? And historically kind of
(12:11):
when you look at the data, what has been the
best for the long term.
Speaker 4 (12:14):
In terms of looking at those areas, it's a bit
murky because it's not necessarily an organized situation. Whereby, if
you look for investments, you can call a Merrill lunch,
a JK. Morgan and Willis Fargo, you know whomever, Morning Stanley.
You can get you know, in dovestment of professionals right
from the gig go very easily with a phone call,
whereas with artwork it's much more challenging. And that that
(12:36):
includes artworker collecting cars or watches or what have you,
very challenging. In terms of real estate, it's kind of similar. Again,
there are property managers that they can guide you and
help you, but it's not quite as organized as the
investment world.
Speaker 3 (12:52):
I Stocks and Balance.
Speaker 2 (12:54):
And I think to wrap up, you know you've mentioned
a couple of times, and I think this is fair.
It's really difficult for people, unless it's a full time job,
even a part time job, to understand what's going on
in the market. How do you find a financial advisor
to pair with your risk tolerance all the things that
you're interested in?
Speaker 4 (13:12):
Good, good, good question. Bottom line is the fact that
I think we got to look for referral. A lot
of times people will have an acquaintance or brand or
family member whoever that is a fairly affluent and has
an investment account somewhere, and you of course can ask
that person for a referral. Another course source would be
from a professional source, meeting a CPA or your attorney
(13:35):
or what have you. And then, of course, lastly, you
can always call the branch manager of JP Morgan for example,
or Merrill Lynch and ask that manager here's here's what
I'm Here's where I'm kind of where I'm at. Can
you pair me with somebody that would match my objectives
and where I'm at when currently investing? And I think
what you want to do is you want to interview
at least at least two or three advisors and then
(13:57):
look for patients understanding and the ability to ask your
questions about trying to you know, go off on these
various high pie foloid terms if you will. And also
look for arrogance, because a lot of times financial visors
have you tat arrogant and candidly is not my favorite
people in general. That's the same.
Speaker 2 (14:18):
That's a fair point. You can also find out plenty
in this book. It's fascinating. Frank Buckholt's book is the
Investor's Golden Playbook, Twelve Rules for Achieving Real Wealth. Mister Buckolts,
thank you for being on the show.
Speaker 3 (14:30):
Well, thank you appreciate having me. Thank you so much.
Speaker 1 (14:32):
This has been get connected with Nina del Rio on
one O six point seven light Fm. The views and
opinions of our guests do not necessarily reflect the views
of the station. If you missed any part of our
show or want to share it, visit our website for
downloads and podcasts at one O six to seven lightfm
dot com. Thanks for listening.
Welcome to Get Connected with Nina del Rio, a weekly
conversation about fitness, health and happenings in our community on
one oh six point seven Light FM.
Speaker 2 (00:12):
Thanks for listening to get connected. Whether you are a
seasoned investor or a novice, our guest offers a proven
blueprint for sustainable wealth building through small, consistent actions. Financial
advisor Frank Buckholt's book is the Investor's Golden Playbook, Twelve
Rules for Achieving Real Wealth. Frank Buckholtz, thank you for
being on the show.
Speaker 3 (00:33):
Well, thank you, enviroment. I appreciate it. Thank you so much.
Speaker 2 (00:35):
Frank J. Buckholtz is a retired senior vice president and
financial advisor with over forty years of experience. During his
career at marilynch she earned prestigious accolades, including the Director's
Circle and Circle of Excellence. I think the first thing
to kind of get a handle on is maybe your
perspective on what makes a successful investing mindset, What does
(00:56):
a successful investor do well.
Speaker 4 (00:58):
The first thing a successful invest to do, of course,
is to have a fairly good grasp as to what
investing is all about. And I found that over the
years that most people I talked to really didn't have
a clue when it came to invest in their money,
what to do, how to do it, what's this?
Speaker 3 (01:14):
What's that? They had no no, no.
Speaker 4 (01:17):
Clue about risk tolerance, time, horizon, tax bracket, any of
the basics of course, like good company investing. So the
first thing they do is have some grass about bond investing.
That's when my book, The Investors Goal and Playbook, I
try to make it simple and zero went on the
basic key facts of bond investing and also include real
life client examples about what people should should be doing
(01:41):
or not be doing it, or what they did and
what they didn't do, et cetera, et cetera. So and
also not make it like a college textbook. So it's
it's it's got it's got a lot of bitess to
it that versus, you know, just a boring drab, you know,
talking about stocks and bonds, et cetera.
Speaker 2 (01:53):
Well, what if the people you talk about at the
beginning I thought was memorable and interesting. Leo, who is
a retiring dentist you worked with. He just loved investing.
He was your only client, as you recall, who made
the bulk of his money by investing in the stock market,
not real estate, not gold, not anything else. What did
Leo do well that others do not.
Speaker 3 (02:12):
Well?
Speaker 4 (02:12):
Leo's philosophy course was to buy when the market was down,
and he also would only buy quality companies as that
long track record, and then of course he would hang
on to these companies who were thick and thin. So
he was the consummate stock investor, if you will. And
he was one of the rare people that could do
it on his own. And he really had this savvy
(02:36):
and knowledge and the interest and the time the expertise
and made it his hobby his bar's investing goes. Most
people don't have the time of the expertise or make
it their hobby when it comes investing, so most of
people need a professional manager alongside them to guide them
in the investment process. But he was one of the exceptions.
And he was an incredible man, my favorite client.
Speaker 3 (02:57):
He lived. He lived almost one hundred and three.
Speaker 2 (02:59):
Oh goodness, good for him. A couple of things you
say in there seem like common sense, but let's talk
about how they can be complicated. And the first one
I'll start with is kind of where we are now.
You said he would buy low. He would hold onto things.
Right now, we are living through this moment where people
are kind of wondering is it time to sell? Is
it time to buy? What do we do when we
live through stressful times when you do not know what
(03:22):
to expect? What do you advise? Have the rules changed?
Speaker 4 (03:26):
Well, you know, it's a good question because if you
look back to January of twenty twenty, and let's say
you had a crystal ball and you can see what's
gonna happen over the next twelve months January first, twenty twenty,
you would have said yourself, oh my god, look at
the world's coming to an end. I'm gonna sell really
right now, and I'll get back in with them. Timing
is good. Well, the irony course, is the market for
(03:48):
twenty twenty actually ended up shock of shocks because of
course the government stimulus to try to keep the economy
going and so on and so forth. But bottom line
is the market actually ended up. Now having said that,
I'm a firm believer, and when you buy stocks, you
hang in there through good times at bad times, and
you always have, of course two pounds of money because
(04:08):
you want to have money set aside to live on
for emergencies what have you. And then of course you
also want to have the money in the stock market,
so she can, you know, let that money percolate and
let it grow if you will over time. The interesting thing,
of course, is that every time the market has gone down,
it has always come back to higher highs. Is there
guaranteed to that, No, not a chance, but it has
(04:30):
always come back and gone to higher highs. Now right
now we're living through times that she always say, a
bit challenging, and the market to day courses down again
once it comes again to day, and I'm feeling the
pinsion even in my own accounts. Am my client to
sell anything? No, I'm definitely crying to hanging in because
I've been rewarded through thick and thin over the years
by sticking with it and hanging in there. So I
(04:51):
remember all too well the great Great recession in two
thousand and eight and nine. My four o u K
was pretty decimated, but I did not sell anything, and
I kept contributing to it all in the all along
the way, which of course proved to be very profitable
in the end.
Speaker 2 (05:04):
If you look at a specific company, what might be
a red flag that would prompt you to sell ahead
of the time horizon you had set out for yourself.
Speaker 4 (05:12):
Well, I think if if if a person is doing
their own individual investing, which I'm not necessarily fond of
per se, they're doing their own individual investing. Let's say
let's say you bought you know, X, y Z Industries.
The first thing, of course you want to look at,
of course, is the revenue top line revenue, which of
course is basically sales, and then of course earnings, and
then of course you look at it over time, you
(05:33):
started seeing those deteriorate and real they cut their dividend,
and you like, their credit quality is cut from great
to poor. Those are red flags, and of course you
mayn't consider liquiding at that point in time to move
on to something else. So there's always there's always red
flags out there, and you want to be cognis of
what the red flags gonna be, but particularly the fales,
(05:54):
revenue growth, and earnings growth.
Speaker 2 (05:57):
Our guest is Frank Buckholtz. His book is the Investment
to his Golden playbook, Twelve Rules for Achieving Real Wealth.
He is a retired senior vice president and financial advisor
who had a career at Merrill Lynch. You listened to
get connected on one oh six point seven light FM.
I'm Nina del Rio. You've mentioned financial advisors a few times,
so let's talk about that when do we need one?
(06:17):
Does can a person do as well with an index
fund as they can with a financial advisor.
Speaker 4 (06:23):
I think the financial advisor is very helpful at that point,
providing a lot of guidance. While my book of course
gives you gives a good foundation, it's going to hear
it in person from a financial advisor point of view,
if you will. And of course the index funds, of
course do have their merit, and I have mentioned in
my book about you know, the Tickets of Spy, which
mirrors the stand Imports five hundred index, which of course
(06:44):
is a prometer of how the market is doing. But
I firmly believe that that over time the advisor is
going to give you some help and helpful advice and
also can give you help. And when it comes to
trust and estate planning as well, which is what we
did when I was working, we actually had a trust
officer review by clients trust documents and we could offer
(07:05):
suggestions to them, and this is done at no cost
and they would have to implement through their attorney. But
the bottom line is they got an effect advice from
a professional at no additional costs.
Speaker 2 (07:16):
Then whatsoever, Well, what is the most ethical arrangement with
the financial advisors? People don't always know how they're paid.
Speaker 4 (07:22):
I find Yeah, So basically there's two approaches to advisor.
They can get paid a commission on each transaction. They
call that a transaction based account or a client directed account.
We had a number of client directed accounts whereby a
lot of clients they came to me were already affluent,
they want to preserve they might not grow it, and
(07:42):
so they would oftentimes look to the municipal bond market
to get income off of that and also preserve their money.
And those are client directly because it was much cheaper
than having a managed account over the long run. Managed
account meaning you have a separate outside manager runing your
portfolio for you. Bottom line, of course, is it that
puts the advisor and the client on the same page,
because money has to work for them, and of course
(08:05):
the client can see the first handle what's going on.
Speaker 3 (08:07):
If you will.
Speaker 4 (08:08):
I think another way to look at it, course is
the manage account, whereby if there's a called rap be
associated with that account, and if the account does well,
then of course the advisor makes more money because if
the fee goes up because the account value is going up,
and vice versa. So put them on exact same page.
And that of course works really well for stock investing,
(08:30):
because I think that again, I don't think the average
person has the knowledge and the wherewithal and make it
a hobby to invest their funds in a proper manner.
Speaker 2 (08:38):
It's surprising to me that perhaps only about half of
people who are eligible contribute to their furrow one K
or any sort of retirement account. What are some of
your thoughts about investing in retirement accounts? Some golden rules there?
Speaker 4 (08:53):
Well, the golden rule, of course is do it, baby,
do it. And I mean that not sarcastically. But the
bottom is the fact that the government has given us
a great opportunity here. Imagine you can invest twenty three thousand,
five hundred dollars right now into your four ro O
one K, assuming you can afford that, of course, and
it comes up pre tax money, so it's a big,
big benefit. And of course the iras, of course are
(09:15):
seven thousand dollars currently and of course assuming you don't
make too much money, you know, because there are caps
in terms of how much money you can make on
these But bottom line is the fact that these are
golden opportunities to give me, give me to you by
the government. And I personally I maximize my four oh
one K from nineteen eighty six. Every year throughout my career,
(09:36):
I went to my IRA rollover. After I retired at
the end of twenty one, my IRA account grew to
eight and a half million dollars, So it can happen.
But again I did that because I maximized the contribution,
and there were two every time, one in the stock
market and number three I never sold anything along the way.
Speaker 2 (09:56):
What do you tell your clients about taxes, about how
much which weight do you place on timing trades or
investing around taxes?
Speaker 4 (10:04):
Well, the taxes, of course, were primarily focused when it
came to coming towards the end of the year and
the client would have realized capital gains of whatever the
number would bee, hundred dollars dollars or whatever would be,
So we would try to minimize those capital gains as
much as possible, and we would do that by offsetting
What we'd do is we'd sell a stock in the
(10:25):
portfolio and then we'd buy an exchange rate of fund
in the same industry or competitor that company, so that
way they're continually remaining invested, and then three days later
we would buy the stock back again. That's the course
nessally looking at the taxes after things have already happened.
But we were also very cognizant of the fact that
we'd also look at the account beforehand and determine what's
(10:47):
the best way to go. Is is it going to
be looking at stocks that pay a qualified dividend, which
are courses of reduced rate versus ordin your income, or
minicipal bonds which will find tax for reinterest. So there's
a lot of a lot of talking discussion before we
even start implementing a plan for declient about their tax situation.
Speaker 2 (11:04):
There's a lot of talk now too about things like crypto.
Our crypto ETFs was probably the way a lot of
people are getting into these things at this point. Right
are your thoughts on those well?
Speaker 4 (11:17):
I do like exchange rate of funds because they can
meror the performance of the price of crypto, for example,
or the price of oil or whatever, you know, so
he does give it me the price of gold right now.
So I think the ETFs have a very worthy, very
worthy component to your investment portfolio. Having said that, when
it comes to crypto, I'm not necessarily a fan. I
(11:38):
just think that that what are you're really buying? You know,
you're buying basically an artificial currency. So I'm not really
fond of that. And yes it's gone on value and
so on and so forth, but I put my money there.
Speaker 2 (11:50):
Personally, I tend to think the same thing. At the
same time, we've mostly talked about the stock market in
this conversation. We really have focused on that, but there's
also real estate, commodities, collectibles, watches, jewelry, all these things.
Can you find or do there exist financial advisors who
can help you in those areas? And historically kind of
(12:11):
when you look at the data, what has been the
best for the long term.
Speaker 4 (12:14):
In terms of looking at those areas, it's a bit
murky because it's not necessarily an organized situation. Whereby, if
you look for investments, you can call a Merrill lunch,
a JK. Morgan and Willis Fargo, you know whomever, Morning Stanley.
You can get you know, in dovestment of professionals right
from the gig go very easily with a phone call,
whereas with artwork it's much more challenging. And that that
(12:36):
includes artworker collecting cars or watches or what have you,
very challenging. In terms of real estate, it's kind of similar. Again,
there are property managers that they can guide you and
help you, but it's not quite as organized as the
investment world.
Speaker 3 (12:52):
I Stocks and Balance.
Speaker 2 (12:54):
And I think to wrap up, you know you've mentioned
a couple of times, and I think this is fair.
It's really difficult for people, unless it's a full time job,
even a part time job, to understand what's going on
in the market. How do you find a financial advisor
to pair with your risk tolerance all the things that
you're interested in?
Speaker 4 (13:12):
Good, good, good question. Bottom line is the fact that
I think we got to look for referral. A lot
of times people will have an acquaintance or brand or
family member whoever that is a fairly affluent and has
an investment account somewhere, and you of course can ask
that person for a referral. Another course source would be
from a professional source, meeting a CPA or your attorney
(13:35):
or what have you. And then, of course, lastly, you
can always call the branch manager of JP Morgan for example,
or Merrill Lynch and ask that manager here's here's what
I'm Here's where I'm kind of where I'm at. Can
you pair me with somebody that would match my objectives
and where I'm at when currently investing? And I think
what you want to do is you want to interview
at least at least two or three advisors and then
(13:57):
look for patients understanding and the ability to ask your
questions about trying to you know, go off on these
various high pie foloid terms if you will. And also
look for arrogance, because a lot of times financial visors
have you tat arrogant and candidly is not my favorite
people in general. That's the same.
Speaker 2 (14:18):
That's a fair point. You can also find out plenty
in this book. It's fascinating. Frank Buckholt's book is the
Investor's Golden Playbook, Twelve Rules for Achieving Real Wealth. Mister Buckolts,
thank you for being on the show.
Speaker 3 (14:30):
Well, thank you appreciate having me. Thank you so much.
Speaker 1 (14:32):
This has been get connected with Nina del Rio on
one O six point seven light Fm. The views and
opinions of our guests do not necessarily reflect the views
of the station. If you missed any part of our
show or want to share it, visit our website for
downloads and podcasts at one O six to seven lightfm
dot com. Thanks for listening.
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
40s and Free Agents: NFL Draft Season
Daniel Jeremiah of Move the Sticks and Gregg Rosenthal of NFL Daily join forces to break down every team's needs this offseason.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.