The X’s & O’s

We have witnessed the S&P 500 continue to rise over the past few years and now retirement accounts are at all time highs right now. But we should take a step back to review the investments every so often to see if there are other opportunities we can take advantage of. Brent, Matthew, and Joshua discuss the importance of knowing what your goals for your investments are and how knowing this information can help you make more specific customizations in your plan.

The Hosts:

Brent Pasqua, Matthew Theal and Joshua Winterswyk


Brent Pasqua: All right. Welcome in. Welcome to the Retirement Plan Playbook. Wherever you are, if you’re listening in your car, your house, we welcome you into the show today. Today we have a great topic. We’re going to be talking about how to review your investment accounts and have a better idea of where they’re actually at right now. We know that accounts are at an all-time high, so how do you do an actual review of your account and get a better perspective on what you should be looking for inside that account? But as we get this kicked off here with Matthew Theal, certified financial planner, Joshua Winterswyk, certified financial planner. I’m Brent Pasqua, host and founder of RPA Wealth Management. Are you guys ready for the NFL season to kick off?

Matthew Theal: Yes, it’s here, huh? It’s already September. I can’t believe that the summer’s over. Labor Day’s passed us by now, and it’s football season. I always love the first few weeks of football, and then my excitement slowly wanes. This year, I feel like with the kid, being a new dad, that I’ll have to make a trade-off, and I’d probably rather spend four hours on the golf course than four hours watching football. So, I expect my football watching to be pretty light this year.

Brent Pasqua: So, if you had an open four hours, you’re going to pick playing golf versus sitting there and watching the game?

Matthew Theal: Yes, I would.

Joshua Winterswyk: I kind of agree with you just because I’m loving the golf this summer. We’ve been talking about it for a while, but also, not to get off track, I’m excited for the NFL season and always enjoy the NFL season. I’m a huge Miami Dolphins fan, if I haven’t mentioned that before, so I love watching the Dolphins play. So, really looking forward to it. They’ve actually got a pretty good team that they’re trotting out there this year, so excited to see what they do, and it’s always just nice to have football on, or football back, the Thursday night, the Sunday, the Monday night football. It’s just nice to watch it. I really enjoy it.

Matthew Theal: That’s where the action’s at, because there’s going to be a game on almost every night now, so you shouldn’t be bored in the evening.

Joshua Winterswyk: Yeah, yeah. That’s the nice part about it. I like that they have the Thursday night. I think it even starts from week one. That’s not changing. So, I’m looking forward to it. What about you, Brent? You excited for the NFL season?

Brent Pasqua: You know what makes me the most excited, is just it means fall’s around the corner, holiday season’s starting. You get to have the game on in the background. It’s the time to have extra time with your family. So, I think that kicks off the whole holiday season.

Joshua Winterswyk: Yeah, it does.

Matthew Theal: Yeah, I agree. It’s a good time of year. A poor time of year is probably February through, call it, April. Then you get pumped up for summer. Then July through August are kind of boring.

Joshua Winterswyk: Is it because it’s tax season, or…

Matthew Theal: I didn’t think of that, but I just feel like by the spring everyone’s like, “I kind of want the warm weather, the pool weather.”

Joshua Winterswyk: Yeah, yeah.

Matthew Theal: Sometimes it’s cold, a little rainy.

Joshua Winterswyk: I enjoy fall, too, so that’s a good point, Brent. Kicking off fall.

Brent Pasqua: Yeah. All right. So, let’s get into the Hot Take Headlines. Amazon plans to open several large physical retail locations in the US that will operate akin to department stores. A plan to launch large stores will mark a new expansion for the online shopping pioneer into a bricks-and-mortar retail, and Amazon, which has long disrupted these retail stores, what’s actually taking place here?

Matthew Theal: This is an interesting story. So, Amazon basically put all of these big box retailers nearly out of business, and now they’re like, “Okay. We’re going to come in, and we’re going to buy these department stores that are empty, and then we’re going to set up big physical stores where you can come get your Amazon goods.”

Joshua Winterswyk: We put you out of business. It came full circle, and now we’re going to bring it back. Wow.

Matthew Theal: Good strategy. That’s next level right there.

Joshua Winterswyk: Do you think Jeff Bezos had that vision originally?

Matthew Theal: I’m sure he did, or maybe he picked it up on his spaceship, and he’s like, “Oh, that’s what I’m going to do.”

Joshua Winterswyk: That’s where he saw all the empty department stores at these malls.

Brent Pasqua: So, what does he plan to do here? Is he actually going to support department stores, or is he actually going to operate fully in these locations?

Matthew Theal: It sounds like they’re… You know where the Macy’s is out of business or the J. C. Penney’s out of business or the Sears is out of business? Sounds like he’s going to either buy or lease that building, put an Amazon sign on it, and you’re going to be able to go walk in and buy goods.

Brent Pasqua: Yeah, and I wonder how that would happen, and I’m sure there’s already a design for it, how it correlates with their online shopping. I would assume that they relate in some kind of capacity.

Matthew Theal: Yeah. I’m not sure, but I’ve been in their bookstores, and they’re pretty cool. They have them at some of the malls around the Southern California region, but it seems… The plan I read, it looks like Southern California is going to get one of the first ones of these big box Amazons.

Joshua Winterswyk: And they’re going to sell a lot of their Amazon Basic lines, is what it sounds like.

Matthew Theal: Yeah.

Joshua Winterswyk: They’re going to feature their own brands.

Matthew Theal: That’s a good idea. That makes sense.

Brent Pasqua: Now, are they going where a Walmart or a Kmart or J. C. Penney used to be, or are they going straight to the malls?

Matthew Theal: I think it’s more in the malls, but you know how we have that big Sears inside a business here in the Rancho Cucamonga area?

Brent Pasqua: Mm-hmm (affirmative).

Matthew Theal: I would imagine it’s something like that, they go into a strip center.

Joshua Winterswyk: I know that they’re not going to be as big as some of those old-school department stores. That’s what they’ve mentioned, is they’ll be bigger stores, but not as big as that traditional big box retailer like before.

Matthew Theal: Did they say if we’re allowed to bring returns there?

Joshua Winterswyk: I don’t know that. That would be good, though. That would be a really nice feature.

Matthew Theal: It’d actually probably save them a lot on return costs.

Brent Pasqua: Because I think they return at Kohl’s too, right? Is that what it is?

Joshua Winterswyk: Yeah. They do have return stations at Kohl’s.

Matthew Theal: Yep.

Brent Pasqua: Yeah, and I think they are teaming up with Kohl’s because I heard them on CNBC talking about that.

Joshua Winterswyk: Crazy story, though, full circle, put a lot of the bookstores, a lot of businesses, and now we’re going to open up physical shops.

Brent Pasqua: Yep. All right. So, let’s get into the next one. So, according to Fidelity, the number of 401(k) plans with balances of at least one million at Fidelity grew 84% year over year to 412,000, while the number of seven-figure IRAs jumped more than 64% to 341,000 in the 12 months that ended in the second quarter. Seems like markets are at all-time highs. People have more money in their back pocket. People have been contributing because they have more money. Is that what’s all leading to this, and how is this happening?

Matthew Theal: Yeah. I think it’s the stock market. I think it’s contributions, but also, just shout out, congratulations to all the people who are becoming 401(k) millionaires, because when they switch the retirement system around in the late ’70s and ’80s and created the 401(k), and companies put the onus on you to save, you had to do it yourself, and saving a million dollars is a big accomplishment. Saving two million is a bigger accomplishment, and we’re seeing a lot of people who are now what we call 401(k) millionaires.

Joshua Winterswyk: I think it’s just a really positive headline. Like you had mentioned, Matt, that shift from the employer-sponsored plans that they were taking all of the risk, and now putting it on the employees to save inside of their IRAs and 401(k)s, a positive headline to see that people have taken that seriously, taken their future seriously, and we’re seeing more and more people become these 401(k) millionaires and putting their selves and families and future generations in a better financial situation. So, that headline didn’t have to be as positive, and that would be worse for retirees in America going forward. So, some positive news.

Matthew Theal: The best part is if you’re one of these 401(k) millionaires or you’re one of the ones that can get up to the three, four, five million dollar mark, which there are people who do that in their 401(k)s or IRAs, if you don’t spend it all in retirement, if you pass away too soon, then that’s a big chunk of inheritance that now your family has. You’re creating this generational wealth. So, I do think now that we look at this 25, 30 years after it happened, the switch of you getting to control your own retirement is a win.

Joshua Winterswyk: Yeah, absolutely, and then also, just the power of investing in compounding interest, this is also happening not only just because we’re saving, but having the trust to put that money away, have it invested and grow, it’s showing us the power of that tool.

Brent Pasqua: To get to these numbers isn’t just a simple thing about contributing. I mean, there’s a lot of factors that lead to accounts getting to this size. I mean, you’ve got to contribute. You’ve got to know what you’re contributing to. You know when to contribute more. I mean, there’s a lot of factors I think it takes to really get to these levels and these numbers.

Joshua Winterswyk: Yeah, absolutely, and including even discipline to continue.

Brent Pasqua: One thing that I think is an understatement in all that, though, is how much of the power of sequence and timing in the market has led up to this? Because the decade that we saw from 2001 to 2011, that market was completely different than what we’ve seen over the last 10 years.

Matthew Theal: Yeah. I mean, we had the stat in the podcast, but over the last 10 years I think the S&P 500’s up 365% or something like that. I mean, we’re going to mention it in a few minutes, but this is wild.

Brent Pasqua: I mean, you think about people contributing in ’08, in ’01, in ’04, you dollar cost averaging, putting money into those accounts during those years, and go through a very tough decade, and then go through this next decade where all that money you put in at lower prices now just took off like a rocket ship.

Joshua Winterswyk: It’s skyrocketed, and you could see just how important understanding your time horizon is, but then also, the rewards of being long-term investors. You got through maybe a lower yielding period, and now you’re reaping the benefits of a higher yielding period, so same discipline in being that long-term investor has really helped.

Brent Pasqua: All right. Well, let’s get into the Retirement Planner Corner. The stock market as, let’s say, measured by the S&P 500, has been on a tremendous run over the last three years. There are so many people who are just excited about really where their account values are at. We thought it would be a good idea to discuss really, based on reviewing your current investments, and how to actually know what they’re doing, what to look for, how to make adjustments to them, when you should make adjustments to them, how to look at risk. So, we’re going to talk about some of those factors when we’re looking at our investment accounts, and what we should be looking for. What is the first thing you should consider when reviewing your investments, though?

Matthew Theal: Yeah. So, there’s two different things I would think about when you’re looking to go invest and you want to review your investments. The first is, what are your goals? Are you saving for retirement? Are you about to retire? Are you saving to buy a house? Are you saving for a remodel? Because whatever your goal is is going to dictate how you invest your money, and then also, what’s your time horizon? Is it a short-term or a long-term goal? Saving towards retirement the first 30 years of your working life, that’s a long-term goal, but also, what people don’t realize is getting the money to last the rest of your life is also a long-term goal. Your retirement’s going to be somewhere between 20 to 30 years, depending on how long you live. Planning to purchase a house in the next two years, that’s a short-term goal. So, you want to balance the risk of your investments to your goal. You don’t want to be too risky if you have a short-term goal, and then if you have a long-term goal, you probably want to be really risky.

Brent Pasqua: So, should you set up investments that are in different accounts if your goals are different for different pots of money?

Matthew Theal: Yeah, you could do that, in a way. I mean, sometimes it happens naturally, though, because if we have retirement accounts that are specifically meant for retirement, so that’s more your long-term money, and then if you want to save to buy a house, it’s probably more ideal to do it in a savings account or a brokerage account.

Joshua Winterswyk: I think this is really important, and just because when you’re starting reviewing your investments or planning for your investments, if you haven’t sat down and really laid out those goals and that time horizon, it makes it really difficult to review your investments or understand them. I think that just this point is super important for people to understand.

Brent Pasqua: Yeah. One other example that we did recently, we worked with a client that their long-term care rates… I don’t know if a lot of other people have noticed this, but long-term care companies are raising their rates with policies, and they’re getting to a point where they’re unaffordable. So, what we did was open up another account within a separate pot of money that they would be contributing to ongoing, but we earmarked that for 25-plus years, and so that has a different time horizon than the rest of their retirement and their short-term goals and different investment accounts.

Matthew Theal: So, what you did is maybe say their premium was going to be $5,000 a month, or-

Brent Pasqua: A year.

Matthew Theal: … a year, so you have them put $5,000 into an account?

Brent Pasqua: Exactly, and then you can make that pot of money a lot more risky because that’s not for the next 25-plus years that they would utilize it.

Matthew Theal: That’s a really good strategy.

Brent Pasqua: All right. So, let’s talk about how we should think about risk tolerance.

Joshua Winterswyk: So, after you’ve done going over your investment objectives, there’s also a few things about risk tolerance that you should consider. One is your resources, and when we talk about resources, it means the distribution also of the other assets that you own. So, looking at and organizing your balance sheet to see what other investments cash that you do own, other property that you own that could potentially have value, and understanding those resources when we’re looking at your investment strategy. Another one is going to be your earning capacity. So, how much can you actually… What was your potential of earnings going forward? Is there room for growth? Are you going to continue to grow in your career, in your income? Because that can change your risk tolerance. If we know we’re going to be able to contribute more or pay down more debt or save more money because of the earnings potentially that you’re eventually going to have, we can be more risky in that short term to helping you achieve those goals.

Joshua Winterswyk: Also, philosophy. I mean, when you ask yourself this question, are you a risk taker, or are you more conservative? That does play a role in this decision when you’re reviewing your investments or making changes, and then also, another example is, are you a business owner or are you an employee, how that can effect your income. Is it variable or is it fixed? You have to ask yourself that question when you’re looking at your risk tolerance as well, and then just stage of life. We’ve talked about whether you’re starting out and you can be more risky because of that, you have higher earnings capacity, or you’re reaching retirement or in retirement, asking yourself, again, are you a risk taker or are you more conservative, but relating that also to the stage of life and correlating that to your tolerance.

Brent Pasqua: So, how do you take these and actually apply them? So, if you’re thinking about the things that you went over and you’re able for yourself to answer those questions, how do you actually apply them to your investment account?

Joshua Winterswyk: So, again, starting with the investment objectives is going to be first. Asking yourself that risk tolerance question is going to be second, and you can apply them because as you answer these questions, it’s going to paint a picture of how much risk you should be taking or should not be taking. So, those planning steps and answering those questions is going to allow you to formulate your feelings, that behavior around selecting your risk tolerance, and I think that that is very important, as well as your investment objectives, of formulating a good strategy.

Brent Pasqua: Yeah, and I think, and you could tell me if I’m wrong, but I think that’s where people don’t understand really the role that a financial planner actually helps someone get through.

Matthew Theal: Yeah. So, that’s what I was going to say, is when you’re building out a financial plan, or even just a basic retirement plan with income and cashflow, then you could see how much risk you need to take with your portfolio. So, we were talking about these 401(k) millionaires a couple minutes ago. Well, someone with $2 million in their 401(k), but we’re projecting they’re going to spend 1.7 or 1.8 of it in retirement, they might need to be a little bit more conservative in their investments. But someone who’s hit that next level of 401(k) wealth, be it three, four, five million, and we’re projecting they’re only going to spend 1.7 of that, then they could be really aggressive with that other chunk of money and grow that for future inheritance for their kids or grandkids. So, having a plan and knowing that and knowing your numbers is extremely important.

Joshua Winterswyk: Also, it creates the awareness. I think awareness is such a big factor. Yes, you might know not the exact answer to all of these factors you can consider, but just creating awareness around your risk tolerance, using some of these factors to ask yourself these questions will again help you formulate and determine… I mean, I do agree with you, Brent. Financial advisors help frame this in a little bit easier of a process. I do believe that, but this is where you guys can get a good start.

Matthew Theal: Absolutely. I think the psychology behind it and helping you work through some of those challenges is what really leads to some of that financial success.

Joshua Winterswyk: Yeah, absolutely.

Brent Pasqua: How should people analyze their investment performance?

Matthew Theal: This is a tricky question, so I’m going to try my best to explain it. But the first thing you should do is think about, “Hey, what am I actually invested in? Am I invested in common stocks?” Well, the first thing you should think about if you’re investing in common stocks, Apple, Best Buy, Pfizer, Google, is your return is going to be dictated on how well those companies you own do. But if you know your index, you’re owning the whole market, your returns are going to be based on how well the market does. So, if you fire up the TV, you see S&P 500 is up 2% today. More likely, the stock fund you own is probably up 2% today, if it’s an index-based fund.

Matthew Theal: The next thing you have to consider is if you have stocks, you probably have some bonds in your account, and how are the bonds doing? Those two together will dictate your performance level. Then finally, you could either break it down into another subcategory and look at, “Okay, do I have international stocks? Well, how well did those do? How well did emerging stocks do?” You just want to make sure that your portfolio is staying in line with those different asset classes, and you’re getting the returns they’re offering.

Brent Pasqua: How would somebody really know, though, that their rate of return is in line with where it should be, even based on the allocations that someone has?

Matthew Theal: So, that’s tough. I mean, this is what I find a lot of people struggle with, is understanding what a good rate of return is. I mean, they see, “Oh, the S&P 500’s up 30%. Why isn’t my portfolio up 30%?” Well, it’s because you’re in a globally-diversified portfolio, but 15% is pretty good, and you did that with a lot less risk than the market’s offering currently. So, it’s tough, and it’s one of those things why for a lot of people they could at least benefit from conversations with a financial planner, because the financial planner could help explain the different performances to them.

Brent Pasqua: Yeah. I feel like the challenge that people would too if they’re doing it on their own, it’s almost like if one of those funds or positions inside your 401(k) or your portfolio is not performing or hurting it, it could lag in all of the returns, and a person could think, “Well, I made 8% this year,” and them not knowing what the S&P did, well, you could think, “Oh, I’m doing good. I made 8%.” Well, compared to what, though? Should you be up 15 or 18, and why aren’t you making that much? Is it fees? Is it you have a couple bad allocations in there, you’re using a couple bad funds you may not know? I mean, there are so many factors there.

Joshua Winterswyk: I think it’s just important, and what I’m hearing you guys say too is you have to do that research. You have to understand first what you’re actually invested in, and then you also have to find out, what is that benchmark for what you’re investing in? So, without those two things, and if you can’t answer those two questions, you’re going to have a really hard time analyzing your performance. So, even for the do-it-yourselfers, those two questions have to be answered before you can even start to look at what your performance is benchmarked to.

Matthew Theal: Yeah, and saying to yourself, “I’m just trying to make as much money as possible every year,” that’s not a good strategy. That’s not a good benchmark, and that’s no way to go about managing your portfolio. You should have a goal ready to return in mind, and you should be trying to hit it on a five-year, 10-year average.

Joshua Winterswyk: Most likely, you probably don’t even understand your risk.

Matthew Theal: Yeah, exactly.

Brent Pasqua: I think one advantage that advisors have is that the software and technology that we’re able to utilize can maximize efficiency within the portfolio, and also create strategies that are going to be able to efficiently perform with not only your portfolio, but within your financial plan.

Matthew Theal: Yeah, absolutely. I don’t think our clients or prospective clients, people listening to the show, understand how much great software there is in the investment advisory industry right now. Literally, I want to change software every two years because of I’m like, “Oh, there’s something new coming out. It’s really cool. Let’s get that for the clients.” It’s hard. There’s a lot of great stuff, though.

Joshua Winterswyk: Yeah, there is. I agree.

Brent Pasqua: It’s not out there for the public to utilize. You know?

Matthew Theal: Not at all.

Brent Pasqua: When reviewing a performance report, what are the most important numbers to look at?

Joshua Winterswyk: Don’t look at it every day. I’ll just start with that.

Matthew Theal: That’s a good one.

Joshua Winterswyk: But when you’re looking at performance, you definitely want to use a couple different periods, and the common ones that we use are quarterly, we also use year-to-date, the inception, return, so how much have you earned since you started investing? Those are all really important. Quarterly is going to give you that monthly lookback, that three-month monthly lookback, year-to-date, so you can again compare it to your benchmarks, and it’s always important to understand inception and how much you’ve made since you’ve started. So, those are three really good periods when you’re reviewing performance to be looking at.

Joshua Winterswyk: There’s also percentage return and dollar gained, and the difference between them is your percentage return is actually allowing you to compare it to that benchmark. You can see how much percentage your portfolio has grown, let’s say 5% or 6% year-to-date, and use that as that benchmark to gauge how well you’ve done, and then also looking at, when you’re looking at your performance report, dollars gained, so actually, how much money you make. We like to see that. We like to see if we invested $10,000, it’s now $12,000. We made $2,000, so you can now even put a dollar figure to your performance for you to be able to analyze that a little bit deeper.

Brent Pasqua: Can any of these three factors that you just went over help somebody determine if there was a problem within their portfolio?

Joshua Winterswyk: Yes. The percentage return’s going to be the best gauge in that because you’re able, without taking just your specific account and that dollar amount, that percentage return’s going to allow to compare it to your benchmark once you’ve found that out. So, that’s the one that you’re going to look at to see if there’s an issue, and it’s going to show you if you have a red flag or not.

Brent Pasqua: Now, if you’re benchmarking it over just a quarter, probably not a long enough time horizon to identify a problem?

Joshua Winterswyk: Probably not. That’s a good point. You’re probably looking at a year-to-date, one year, I’d say even the longer you go back, the better, but yeah, monthly returns or even quarterly is probably a little bit too soon. Again, we don’t want to be making reactive changes. We want to be more proactive in making sure we’re hitting our benchmarks, but yeah, not daily, probably not quarterly to generate a change.

Matthew Theal: What you want is a 10-year average of mid-to-high single-digit returns, so you want six and above, and you want it on an average basis. If you get that, those are great investment returns. The people who want 12%, 13%, 14%, 15%, 20% per year on average, that’s a pipe dream. That’s not happening.

Brent Pasqua: Why is that?

Matthew Theal: The best managers in the world can’t even do it. The hedge fund managers who are billionaires, the ones you hear about who are buying sports teams, they’re the one who are doing it, and they’re the best in the world, and they’re the billionaires for a reason.

Brent Pasqua: Yeah. Markets are efficient, right?

Matthew Theal: Exactly.

Brent Pasqua: If you’re not happy with your performance or don’t know what it is, what should you then do?

Matthew Theal: You should make some changes. So, there’s a couple things you could do. You could adjust your positions. So, if you feel like you can’t sleep at night, probably need a little bit less stock than you have. That means you’re scared. If you’re finding that you’ve got a little FOMO or you’re not making enough money, well, the flip side is you’ve got to have a little bit more stock, but then you have to be okay with the ups and downs in the market. We mentioned it a few minutes ago, but if you’re paying high fund fees, your fees are too high going into the investment manager, then switching out some funds to lower-fee versions of those funds could help a lot. I mean, one company, I don’t want to call them by name, but they go by American.

Brent Pasqua: Do they end with Funds?

Matthew Theal: They do end with Funds, but they’re notorious for having multiple classes of funds, and the funds that I see most of our clients come to us with are the high-fee version. All you have to do is work with an advisor like us, and we could get you the lowest-fee version of those same funds. It’s really easy. You just swap them out.

Brent Pasqua: So, what that basically means is that that fund, let’s call it Fund A, comes in five different versions of the same exact fund, and all of those versions have different fees on them, and there’s one of those versions that has a very low fee, and more than likely, if you’re listening to this show, you don’t have that very low fee.

Matthew Theal: I haven’t seen anyone in my career who’s come to me with a low-fee fund, and that one has the best performance.

Joshua Winterswyk: I don’t think I have either. I was thinking of this, have I ever seen that low-fee one? I’m like, who’s actually using that fund?

Matthew Theal: Yeah.

Brent Pasqua: The only ones that have it is the people that we’ve switched them to.

Matthew Theal: Yeah, exactly. Then lastly, reach out to the advisor. Get someone to talk to. Get a second set of eyes on your account. Let them help you. I mean, you don’t go to the dentist, and you don’t diagnose your own dental problems. You go to the dentist. If you’re not feeling good, you’re not diagnosing it yourself. Well, maybe you are doing some Google searching, but-

Brent Pasqua: Maybe WebMD is diagnosing you.

Matthew Theal: Yeah, they’re telling you, but you’re probably calling the doctor. So, there’s no reason why you shouldn’t be reaching out to an advisor to get a second set of eyes on your portfolio and be like, “Hey, am I doing okay? Could I get a check-in?” Nothing wrong with that, so talk to an advisor.

Brent Pasqua: Yeah, I agree. It’s hard to always identify if there’s a problem, but if you know and you’re uncertain about it, definitely reach out to an advisor and have them do an overview of it, because chances are you’re not paying for the cheapest thing. There’s probably something cheaper out there, and fees do add up. All right. So, let’s get into the last part of the show. Let’s go over RPA Recommends. Matt, what do you have for us today?

Matthew Theal: All right. So, we had a listener and client in the office about two weeks ago, and he had a Recommends for us, and I won’t mention him by name, but it was a Netflix show called Outer Banks, and he mentioned that I should watch it and Josh should watch it. I don’t think Josh has watched it yet.

Joshua Winterswyk: No. I’ve just been a little busy, but I plan to.

Matthew Theal: Yeah.

Joshua Winterswyk: It’s definitely in the queue.

Matthew Theal: So, I watched it. It’s a great show, moves at an incredible pace. I’m only through Season One, so I have to get to Season Two, but it’s just one of those bingeable shows where you could probably finish in a day if you really wanted to. It’s kind of like a teenage show, but with a treasure hunt in it, really cool, really unique. I liked it a lot. So, great Recommends. Thank you.

Joshua Winterswyk: Well, I guess to stay on TV shows, we just finished Yellowstone. I know that’s been out for a while. I think there’s a new one coming out. So, that’s why I haven’t watched Outer Banks yet, but like I said, that’s queued up. But we finished Yellowstone, more of a modern day cowboy and Indian story. It’s based in Montana, pretty good. I’d say I’d recommend it if you like that style of modern day western. Kevin Costner’s in it. I think he even directs it or produces it. It’s on Peacock. So, another just real quick Recommends that I have too, recently used some more of my credit card points, so remember, if you’ve been doing a lot of spending, review those credit card points. Don’t let them go to waste, a good way to get free money, so just another shout out to that. A good time of year to start looking at how many you’ve accumulated, making sure you’re reviewing them, earning them, and using them.

Brent Pasqua: Great Recommend. I also have one. We had some work done to our house. I like to try to keep things as clean as possible, so did some research, and we found a RYOBI power washer, so I’m a dad outside power washing his outside, front yard, backyard. If you come drive by my house, you might see me out there power washing. But it works great, cleans everything, been having a really good time just power washing things down, and I do highly recommend it. Great quality.

Joshua Winterswyk: Should we go drive by Brent’s house and see if he’s actually using his power washer this weekend?

Matthew Theal: Yeah, that, or I was going to ask him to bring his power washer to my house so I could borrow it and not buy one myself.

Joshua Winterswyk: Yeah, that’s a good idea.

Brent Pasqua: There you go.

Joshua Winterswyk: That’s where it’s at.

Brent Pasqua: I never recommend people spending money, so I’ll drag it down to you or I’ll bring it to the office to bring it home. All right. So, as advisors, we always love helping people. That’s why we do it. We always hope this show is helpful and gives you some good tips. If you would like to schedule an appointment with any of us, please go to and schedule a complimentary consultation. You can also download our eBook and go to our website, or if you’d like our show notes, please also go to Great having you as listeners. Appreciate you listening. I will talk to you next show. Thank you.

Matthew Theal: Thank you.

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