Jun 28, 2019
There are just certain things in life (and in the financial
world) you shouldn’t place your trust in. We’ll cover a smattering
of those “can’t trust” things on today’s show. Joel also gives us
his perspective on the recent merger between Raytheon & United
Technologies. Gas station sushi, Nigerian Princes, and the most
dangerous job in US history. This show has everything. Plus, we’ll
answer a few listener questions before it all wraps up in less than
Full show notes: https://johnsonbrunetti.com/what-we-cant-trust/
In The News
- Joel and John talk about the hilarity of drones delivering
Joel’s future Jersey
Mike’s lunch sandwiches.
2:17 Big, Local Merger Between Raytheon & United
- Joel’s big concern over
this merger is the potential loss of jobs due to a lot of
overlap between the two companies.
- Joel wrote a book, “Forced
To Retire”, that talks about the seven decisions you need to
make when your company is merging or if you’ve been forced into
- There is always angst and nervousness for employees when their
companies go through major changes like this.
4:48 John Points Out Sometimes A Forced Retirement Can
- Success never feels good in the middle. But you might actually
find yourself in a great position after being forced to retire and
have the flexibility to go after a passion or career you never
previously had the time to pursue.
Things We Can’t Trust
6:20 Gas Station Sushi
6:45 People Who Say They Can Time The Stop
- Joel: “Run the other way or be incredibly skeptical.”
- People have tried to time the stock market since it started.
There aren’t enough people who have been successful at doing it for
you to go anywhere near trying to do it yourself.
Shiller, Yale economist, is just one example of someone who has
failed at timing the market. In 2004, he said to get out of the
market. If you did that, you would have missed three years of a
huge run up.
- You get a laundry list of what might be wrong with you. Often,
it’s not even close to being accurate.
9:08 Advisors Who Say They Don’t Charge
- Financial advisors aren’t working for free. There’s nothing
wrong with advisors getting paid. Be wary of someone trying to hide
10:15 Nigerian Princes Offering To Share Their Fortune
With You Via Email
11:18 A Stock Market That Hasn’t Crashed In 10
- We are overdue. 2009 was our last downturn. We don’t count the
small drops like we saw in December of 2018 or the blip in May of
- We don’t know when it’s going to happen, but there will be a
day where we see a 25% or more drop. And you have to put a plan in
place that can safeguard against that.
- If you’re about to retire, you’re particularly at risk.
14:05 Quote Of The Week
“Retirement is like a long vacation in Las Vegas. The
goal is to enjoy it to the fullest, but not so fully that you run
out of money.” – Jonathan Clements
- John asks Joel about his favorite authors.
15:45 What is the most dangerous occupation in US
- 9% of the people in this occupation have been killed on the
- Listen to the end of the podcast to find out the answer.
16:23 Moving To The Beach
- Woody: “We’re retiring in two years and plan to sell our home
and move to the beach. But home values in our neighborhood are sky
high right now, so I’m wondering if I should sell now and rent for
a couple of years. Is it a bad idea to rent at this stage of
- 10 or 15 years ago this wouldn’t have been realistic advice,
but more and more clients are starting to rent. It frees people up
from the burdens of home ownership. It’s going to depend on your
situation, but this kind of idea is a lot more plausible
18:32 Kids Off The Payroll
- Bonnie: “I just paid my last tuition payment, so my kids are
officially off the payroll. Is it safe to cancel my life insurance
at this point?”
- There might be a reason you want to keep that life insurance.
Don’t keep it if you don’t need it, but don’t cancel it until you
re-do your financial plan given these major changes in your
19:43 Market Crash Worry
- Rex: “When is the market going to crash? I worry about it
- No one knows this. If they claim they do, they’re either lying
- The bigger problem here is your level of worry. You’re probably
taking too much risk in the market. You don’t to be dependent on
the stock market for success in retirement.
22:40 Answer To The Trivia Question