Adam Van Wie: Fee-Only Planning Done Right

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[Music]

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welcome to fun with annuities I'm your

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host Stan the annuity man America's

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annuity agent licensed in all 50 states

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I want to welcome everyone on all the

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major podcast platforms and the brave

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people out there watching the fun with

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annuities YouTube channel I am glad to

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welcome back a previous guest who you

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know I just have to catch them in

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between travels and plane trips he's all

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over the place

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very very smart money manager

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um Private Client type person that I'm

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going to have all his information on my

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site I encourage you to connect with him

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if you're searching with searching for a

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real

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a real person a person that can get to

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your level whatever level that is and

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tell you the truth

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um one of the one of the good people in

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the industry I'd like to welcome back

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Adam Van we of Van we Financial Adam

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welcome to fun with annuities

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thanks Dan I really appreciate it and

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thank you for having me back absolutely

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um Adam is based in North Florida I do

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have a home in North Florida as you know

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I do also live a little bit in Las Vegas

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which our main office is now located

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um so North Florida is if you haven't

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been there it's it's not South Florida

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let's put it like that that's the reason

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we all live in North Florida it's it's a

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very nice place Adam let's Jump Right In

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um let's talk about the stock market uh

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tell me what's going on in the markets

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at the time of this taping and let's

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talk about just 2023 as a broad base and

1:54
looking into 2024 what are you seeing

1:57
both good and bad right now yeah great

2:00
topic I it's been such an unusual year

2:03
after a very unusual year last year so

2:06
uh the the I guess that if you had to

2:09
sum up this year it'd be it's been great

2:11
uh surprisingly great uh the the

2:14
nasdaq's up almost 30 percent the s p is

2:18
is up uh I don't know 15 or so and the

2:22
the overall feeling in the market is

2:25
like what recession

2:27
um but you turned on any news Channel

2:29
all you'll hear about is the the

2:31
impending doom the recession is coming

2:33
yeah I don't know if the recession's

2:36
coming or not but the stock market is

2:38
acting like we are headed into a uh a a

2:42
really good time and uh but if you look

2:45
at the economy it certainly doesn't feel

2:46
that way so I think there's a bit of a

2:48
disconnect right now between the market

2:50
and what people's expectations are but

2:53
that happens more often than you would

2:54
think you last year everything felt

2:57
probably a lot better than it does now

2:59
and the market did nothing but go down

3:01
so the the the the the market always

3:04
looks ahead people can't always think

3:07
outside of the current different

3:08
situation that they're in and that's

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that's pretty normal to feel that way

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but the Market's looking ahead and

3:15
telling us at this point that things are

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looking better on the horizon which

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thank goodness after last year is all I

3:22
can say well it's been interesting

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because typically it's contrarian seesaw

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effect when the FED raises rates Etc and

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it seems like the stock market has just

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ignored that totally uh what what

3:32
chairman I call him boogpal if you're an

3:35
Orioles fan you know what that is what

3:37
boot pal is doing and the Dutch boy

3:39
haircut yelling what they're doing I

3:41
don't I mean it's been great for people

3:43
that want higher interest rates but from

3:46
the stock market standpoint it has been

3:48
interesting to see is do you think

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that's pent-up demand and liquidity from

3:54
the coveted years

3:55
I I do think there's some of that a lot

3:57
of what we're seeing right now all ties

3:59
back to the covid really the response to

4:02
the covid pandemic uh We've we're in

4:05
such an unprecedented time and I I

4:07
normally hate when people say that but

4:08
this truly is we've never done what we

4:11
did during the covet pandemic yeah shut

4:13
down the economy we've never never

4:15
injected that much liquidity and and new

4:18
money into the economy at one time so uh

4:21
so a lot of this is just a I call it the

4:23
Boomer the coveted Boomerang effect it's

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we're seeing all these unusual economic

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situations because of actions that took

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place a few years ago and yes I think

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that all of what you're seeing today is

4:35
part of that response to the to the

4:38
covid uh the covid response

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let's just hope that they don't feel

4:43
they the government they don't feel they

4:46
can do it again I think there would be

4:48
so much blowback on this country from

4:51
what we've now know about the truth

4:54
um it's it would be interesting yet when

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I travel across the country I'll go to

4:58
San Francisco and half the people

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walking down the street outside are

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wearing masks I'm going I don't know

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what's going on here maybe they're not

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reading the same thing I'm reading but

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apparently not but it's but it's

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interesting

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um

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so from the standpoint of you know

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there's been a lot of things that even

5:16
the experts have looked at and said well

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this should happen if this happens uh

5:21
Bitcoin and and crypto in general has

5:24
been one that's a head scratcher just

5:25
because I really think that the support

5:28
of that sector is very very thin and

5:31
held very very uh and within a few hands

5:34
in my opinion what's your take on crypto

5:36
because a lot of people still ask me

5:38
about that and they still everybody

5:41
wants the the next Tesla or the next

5:43
apple and they want to get rich quick

5:45
what do you tell your clients about

5:47
crypto right here all 7 000 of them ish

5:51
yeah crypto uh I tend to agree with you

5:53
it's a very very thinly held asset I do

5:57
think that there are a handful of people

5:58
that probably control the bulk of it

6:01
it's uh I don't look at it as a viable

6:04
investment for my clients today I do

6:07
think it has a future I I think that

6:09
there are a lot of things about crypto I

6:11
really like but I don't put money into

6:14
things that can generally lose a huge

6:17
percentage of their value in 24 hours or

6:20
less and and that to me that's what

6:22
crypto is today now in the future that

6:25
might be different but what also I I

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can't make a real case for crypto

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increasing in value what's driving it

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except for demand which was somewhat

6:35
artificially uh created during the covet

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pandemic with all these people staying

6:39
home and trying to get rich quick and

6:41
nothing else to do sure throw some money

6:43
at crypto and see if you win the lottery

6:45
but is it a viable investment today not

6:48
to me but I do I love the blockchain

6:50
technology correct and I do think that

6:52
there is a viable future for crypto just

6:55
not on the investment side today would

6:57
it surprise you if the um this going

7:00
down a little bit of a conspiracy rabbit

7:02
hole but not much would it surprise you

7:05
if the government or governments

7:09
eventually controlled that crypto space

7:11
or at least wiped out most of the crypto

7:13
because they created a US coin or you

7:16
know Biden coin trunk coin whatever

7:18
whoever's not my point is

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I see the the government's plural liking

7:26
the crypto blockchain space because

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if you if that was in place you

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literally could text people real time

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April 15th would go away you you could

7:37
steer

7:39
um policy via that way

7:42
I don't want you to put on the tinfoil

7:44
hat because you're most you're one of

7:46
the most rational people I know what is

7:48
your take on that and have you thought

7:50
through kind of where this is all headed

7:52
Maybe

7:53
I I do think about it and a lot of it is

7:56
driven by my clients because they're

7:57
asking me the same question right all

7:59
the time we get it so much and and my

8:02
thinking is that yes the government

8:04
would definitely be interested in

8:06
something like that and also I'm not

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sure that they could pull it off due to

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uh just a whole variety of reasons the

8:14
constitutionality of it the uh the

8:17
Constitution what are you talking about

8:19
I know I know crazy crazy

8:21
a few hundred years ago but no big deal

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there

8:24
um I just don't know I they might try it

8:27
but I do think it might get shot down in

8:29
the legal system it's it's just doesn't

8:32
it seems like such overreach that I

8:35
would I feel like at some point there

8:37
would be groups of people with with a

8:40
lot of power who would oppose it and be

8:43
able to uh stop such a such a clear

8:45
overreach of government in that case but

8:48
gosh from a government standpoint if

8:50
you're looking at how do I control my

8:52
voting base yeah what better way to do

8:54
it than to control their money it's a

8:56
it's an absolute no-brainer if I'm a

8:58
politician and the only thing that

9:01
gives me pause a little bit is if you'd

9:04
have told me they could have shut down

9:05
the government printed money and created

9:06
an environment where people don't want

9:08
to work sure I just said I don't believe

9:10
that I mean that's that's crazy but I

9:12
was having a conversation with a friend

9:14
last night and he's like I think we've

9:16
lost

9:17
you know some of the younger people you

9:20
know right right right out of high

9:22
school or right into college out of

9:24
college they just really don't want to

9:26
work I don't know about you but I I try

9:27
to hire people all the time and we

9:30
cannot find people that want to work

9:32
five days a week we just can't they they

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literally will go come into an interview

9:36
and say yeah I'm I would love to work

9:39
for your company but I'd like for it to

9:41
be flexible I'm not sure I want to work

9:42
Fridays I'm like you just need to start

9:44
your own company player I mean that's

9:46
but we're seeing that and I think that's

9:48
a

9:49
um that's a result of coven with that

9:52
being said I do think this country is

9:54
different from other countries is when

9:56
we have a horrific thing happen like

9:58
that covid we get better do you see

10:01
businesses

10:03
getting better I.E streamlining

10:06
Etc based upon what happened

10:09
I do and and to some degree I think it

10:12
has been part of the reason the Market's

10:14
improved I I think that businesses are

10:17
very especially small businesses are

10:19
very good at adapting to whatever

10:20
situation is thrown at them and I I

10:23
think that the covid response really

10:26
changed the way people work and think

10:27
about work and I definitely think you're

10:29
seeing it reflected in the in the

10:31
younger people's attitudes but the the

10:33
fact is they have had a lot of options

10:36
you can you could go and work three uh

10:40
1099 contractor jobs uh sort of side

10:43
hustles and make a decent living at

10:45
least enough people to buy and so yeah

10:48
they say that but they really do have

10:50
that option now I think that's changing

10:52
I think the power structure is Shifting

10:54
back towards the employer uh as the

10:56
further we get away from covid that's a

10:59
good point for the last three years

11:00
they've kind of they're kind of right

11:02
they kind of have had that ability to do

11:05
that

11:05
um now is that the way the world is

11:07
gonna gonna go in the future is it

11:10
always going to be like that I I'm not

11:12
exactly sure but I do see the power

11:14
structure shifting back to companies and

11:16
and hopefully young people are young

11:18
people are known for being able to adapt

11:20
so hopefully they can adapt and and come

11:22
back to the more I guess traditional way

11:24
of thinking about work

11:26
I think businesses became and are

11:28
continuing to become more efficient with

11:32
how they do business and um the only

11:35
thing that concerns me I'd love to hear

11:36
your comment on this sector was just the

11:38
commercial real estate space

11:40
um I know in Las Vegas

11:42
um there's a lot of beautiful buildings

11:44
that are that are business Commercial

11:46
that are that are empty and and it

11:49
doesn't look like anyone's moving in

11:51
right are you buying any REITs in that

11:54
space are you staying away I'm staying

11:56
away right now I don't love that space

11:57
But I do think it's it's probably a

12:00
shift I did see an article the other day

12:02
that there was a uh a chain of stores

12:04
that went out of business and an

12:05
e-commerce company came in and bought up

12:07
all the locations just to use them as uh

12:10
as facilities for their for their for

12:12
shipping out of their for their

12:14
e-commerce business sure and I think we

12:16
may see more things like that start to

12:19
happen things that have been traditional

12:20
storefronts might change into uh offices

12:24
or or

12:26
um or places that a point of sale or

12:29
shipping or I don't uh distribution

12:33
um businesses so I think there's a lot

12:35
of reshuffling that's going to happen

12:38
um over the next five to ten years in

12:40
the commercial space I don't think that

12:42
you're I don't think that you're going

12:43
to see the the country just go back to

12:46
what it was I think it's going to change

12:48
substantially yeah maybe some of those

12:50
old uh commercial buildings get turned

12:53
into condos because the rate that

12:54
they're putting up condos around the

12:56
country is is just astronomical at least

12:59
here in Florida and I and some in some

13:01
of my travels it looks like other places

13:02
as well so I think uh I think you will

13:05
see that I completely change from what

13:09
it was and I would not be a huge

13:11
investor in the commercial Reit industry

13:13
or in a commercial building right now

13:15
although there are Pockets like here in

13:17
in Jacksonville Beach where I am the

13:19
retail side of things doesn't seem to

13:21
have been affected at all if anything

13:23
we're seeing a ton of restaurants open

13:25
and a ton of new businesses come to the

13:27
area so it may be somewhat location

13:30
dependent too which in real estate is

13:32
usually the case are you concerned at

13:34
all about just housing in general from

13:36
the standpoint of

13:38
the black rocks of the world or whoever

13:40
those people are buying up large

13:42
tranches of you know single-family homes

13:45
and controlling that space

13:47
where do you think that's headed because

13:49
it doesn't look like interest rate

13:51
raises have dampened

13:54
demand a lot no it really hasn't

13:58
surprisingly if that's the same question

14:01
last year I would have said yeah I'm

14:02
really worried about it exactly but

14:04
today not really I feel like the that

14:07
the black rocks of the world who got in

14:09
a year or two ago and are are leasing

14:12
out they're still using the properties

14:14
as single-family homes that they're just

14:16
for lease instead of for purchase and so

14:18
I don't think it really dampens the

14:21
overall supply of available units for

14:24
rental or purchase now it may drive

14:26
prices up on new purchases a bit but the

14:29
market is so much bigger than even what

14:32
BlackRock can can do so they might

14:34
control one town by buying a huge amount

14:37
of properties in that area but the the

14:40
U.S market is just way too large for

14:42
BlackRock to really even have a minor

14:45
effect on so that specific issue doesn't

14:48
worry me that much and also if if uh if

14:51
prices come down they won't control that

14:53
either and they're going to be the ones

14:55
left holding the bag and have to sell

14:56
those properties at a discount so the

14:59
the fact is they're going to get caught

15:00
up in market dynamics whether they like

15:02
it or not and they can't control it no

15:05
matter how big BlackRock is if now if

15:06
they were just doing that and and not

15:09
doing anything else with all their

15:10
trillions of dollars then sure that

15:12
would worry me but it's just such a

15:14
small part of their business I don't I

15:16
don't spend a lot of time worrying about

15:18
that

15:19
um

15:20
supply chain you know my wife and I

15:24
commented on this a lot where we see the

15:27
lack of availability of things that used

15:30
to be easy to get in the United States

15:31
we're very spoiled as a country uh

15:34
pre-covered we were used to getting

15:36
anything not having to wait Etc

15:39
are you seeing the same things and if so

15:42
why is this still happening and why

15:44
hasn't it been fixed from a supply chain

15:47
standpoint

15:48
yeah it's interesting because I I do see

15:52
a bit of that it's on some really random

15:55
stuff though I know it's not it's not as

15:58
widespread as it used to be clearly a

16:00
lot of that has been solved but it does

16:02
still exist and yeah every once in a

16:04
while I'll run into it and just kind of

16:05
scratch my head how can they still be

16:07
having this issue uh but if you look at

16:10
the statistics on a national basis the

16:13
um the purchasing uh survey that comes

16:16
out monthly

16:17
pretty much everything has been fixed in

16:20
the data now we're still seeing it pop

16:22
up here and there on certain items but

16:24
if you look at the National Data it's

16:26
gotten so much better than where it was

16:29
a year ago and two years ago when

16:32
everything was just so wonky that you

16:34
you couldn't get any inputs for

16:36
manufacturing you couldn't and that

16:38
meant you couldn't get any Goods on the

16:39
on the downstream side either so uh I

16:42
think that those issues will slowly go

16:44
away over the next couple of years but

16:47
yeah it's still happening and I think

16:49
it's still like I said it's sort of the

16:51
covet effect of there's just some parts

16:54
of China that were later to open than

16:56
others and maybe the factory was located

16:58
there or there's a whole host of reasons

17:00
shipping could have been the issue

17:02
although the shipping issues if you look

17:04
at the data have shipping prices have

17:06
come down to pre-covered levels

17:08
um I'm talking about containers coming

17:10
over from Asia and so those types of uh

17:14
those types of hurdles are much less

17:16
than they used to be but that doesn't

17:17
mean not a single company couldn't get

17:19
caught up in it or have issues with that

17:21
so I think that's what we're seeing now

17:23
very much on a spot basis rather than as

17:27
a a entire the entire world has been

17:31
affected by this covet shutdown and and

17:33
we can't get anything right

17:36
I'm talking to Adam Van we are then we

17:38
Financial phenomenal fee only planner

17:41
um if you're looking for someone

17:42
long-term young vibrant IQ that's going

17:46
to listen he uses his his ears and his

17:49
mouth in proportion

17:52
um we recommend people to him all day

17:53
long without hesitation so if you're

17:55
shopping or just want to get a second

17:57
opinion I would encourage you could have

17:59
been wefinancial.com we are going to

18:02
have all that those links Etc uh one of

18:05
the things I wanted to talk to you about

18:07
is a is you know China in general you

18:10
know because I'm I'm kind of tired of

18:12
the whole China thing that

18:14
you know we're we're afraid of China

18:16
what's gonna you know are they going to

18:18
overtake us what's your take on them

18:19
because to me they're not they're not a

18:21
threat

18:22
no not to us but if I were Taiwan I

18:25
might be a little bit worried I I think

18:28
that China is uh China right now as an

18:31
investment which is how I tend to look

18:33
at everything is not a place that we're

18:35
putting money

18:36
um they've made a lot of missteps

18:38
recently I I think that historically

18:41
they've been really really good at doing

18:43
all the right things at all the right

18:45
times but lately I feel like they're

18:46
sort of out of step with with the global

18:49
politics I'll put it that way they they

18:52
haven't been doing the things that I

18:54
think that they should do to stay on top

18:57
or or trying to get to that top position

18:59
I I think they really really slipped

19:02
lately and and outside of uh Taiwan they

19:05
worry me a lot less than what they used

19:07
to

19:08
you know the Taiwan thing's an

19:10
interesting one because that could be

19:11
the game changers like that's the Ace of

19:13
Spades that they're getting ready to

19:15
play and call our Bluff yeah but we'll

19:19
see what happens with that

19:21
um but as a you know just as a as a

19:23
threat I don't see that I mean yes

19:25
they're huge and they have a zillion

19:27
people and yeah I get it but from a

19:30
technology standpoint Innovation

19:32
standpoint creativity standpoint I just

19:34
this country I'm a homer here a little

19:37
bit but I I have full faith in what

19:40
we're doing let's pivot a little bit uh

19:42
internationally obviously

19:44
um the war continues uh Russia keeps

19:47
playing around and that doesn't seem to

19:49
affect the markets but I'm always

19:52
thinking we're one dirty bomb away from

19:54
chaos yeah what are you telling your

19:57
clients right here

19:59
uh with the Russia situation uh speaking

20:01
of countries that have really shown to

20:03
be not what we thought they were I mean

20:05
Russia can't even handle an invasion of

20:07
a small neighbor are they really a

20:09
threat to us outside the nuclear Arena

20:11
obviously right but wow their their army

20:16
looks inept their their leadership looks

20:18
weak it's just from one thing to another

20:20
just not what we thought they were at

20:22
all uh but yes as far as a dirty bomb

20:25
goes or a new I mean that is the the

20:28
real concern there but uh honestly what

20:31
there's nothing that we can do to change

20:33
whatever is going to happen there so for

20:36
now we have to go with the information

20:37
that they have and and even Putin's uh

20:41
crazy mind hasn't seemed to go to that

20:44
that area yet at least so I think we

20:48
have to um I think we have to assume

20:50
that that is he wants to get this done

20:52
but not in that way and and hopefully

20:54
that will continue but really I mean

20:57
that is The X Factor nothing thing we

20:59
can do to control it the only thing that

21:02
we can do is continue to invest in a in

21:04
a balanced portfolio that has right

21:06
that's at risk assets and I don't think

21:08
we're going to adjust our portfolios

21:11
based on a land war in Asia just not not

21:14
our that's not really in our purview

21:16
right now

21:18
Russia has been taking off a lot of

21:20
investment lists in in indices haven't

21:23
they I mean there's a lot of flow that's

21:25
not going in right yeah we're still

21:27
getting a whenever we log into our um

21:30
our TD Ameritrade website there's still

21:33
a thing that pops up that says that

21:34
Russian Securities are very limited if

21:36
you can trade them at all so uh so yeah

21:39
it's been it's not really an investable

21:41
country right now

21:44
nor would I want to for that it's going

21:46
to be interesting to see just how Putin

21:49
survives this politically and actually I

21:53
guess physically I mean I do think

21:55
there's internal threats with them um

21:57
but there's always Wars man there's

21:59
always stuff that's happening

22:01
and obviously we're going into

22:04
election season do you think the

22:06
election regardless of who wins either

22:07
way I know both of us are not really

22:09
political you know we're we're

22:12
conservative monetarily that doesn't you

22:15
know that that's a broad spectrum I

22:17
always tell people I'm conservative when

22:19
it comes to money because you know

22:21
that's what we do for sure

22:23
um forget politics in fact turn off turn

22:25
off the cable please

22:28
um

22:29
do you think the election of the same

22:32
people

22:33
is going to looks like it is going to

22:36
affect positive positive or negatively

22:39
the markets I mean first of all I do

22:42
want to say that there's a lot of time

22:43
between now and the election and

22:45
hopefully things can change because uh

22:48
they're just recycling the same people

22:50
over and over yeah we do better I'm see

22:52
I mean literally as a country if I'm I'm

22:54
looking inside I'm going that's all you

22:56
got right this is the the best options

22:59
really come on

23:01
I do there are some people running that

23:04
I think are a lot better candidates but

23:06
the the establishment

23:08
and the media they just won't let it

23:11
happen it's so frustrating as a as a

23:14
someone who really hates politics I hate

23:16
all of it it makes it disgusted and I

23:19
don't watch the cable news and uh yeah

23:22
so I but I do think there's better

23:24
there's better ideas out there they just

23:26
aren't allowed to come to the surface

23:28
and and um so I think the the one good

23:32
thing out of that is that you kind of

23:33
know what you're getting either whatever

23:35
happens you kind of know what you're

23:37
getting and they both yeah it's one side

23:40
has has seen a little bit of a dip in

23:42
the market but it's starting to bounce

23:43
back and the other side was really good

23:46
until covet so

23:48
um so economy wise I don't think that

23:51
either one is going to be a complete

23:53
disaster there's obviously one side that

23:55
I think has a little bit better track

23:57
record but I don't think it's I don't

23:59
think it's going to make that much of a

24:01
difference honestly the common theme in

24:03
the culprit in my opinion is the media

24:05
both sides

24:06
and if you're out there as a listener or

24:08
a viewer and you're defending one side

24:09
of the media you're the problem okay

24:11
that's right

24:12
um You are the you are the problem if

24:14
the media is is in the way of

24:17
unbelievable success and growth of this

24:19
country because they have agendas and it

24:22
literally

24:23
drives me crazy to the point where I I

24:26
about three months ago I used to watch

24:28
it just because clients talked about it

24:30
I if if you want to call me and schedule

24:32
call with me and talk politics

24:34
good luck man because I'm not watching

24:37
any of it period it doesn't matter I'm

24:41
I'm looking more at the monetary side

24:43
and I'm gauging what's happening based

24:46
on that and based with on conversations

24:47
with people like Adam great story a

24:50
recent podcast I just did with a guy

24:52
named Larry kotlikov which is a um he's

24:55
a renowned economics professor from

24:58
Boston University and for people that

25:00
are political wonks he ran for president

25:01
a while back just based on economics

25:08
hopefully it would work of course they

25:10
shot him down because it's so pragmatic

25:12
and he's not on he's not politically

25:14
correct but boy it would be nice to have

25:18
a business a true business person not an

25:20
inheritance baby in there that or or

25:23
lifetime politician that really has run

25:26
businesses

25:27
I only think there's a couple there's a

25:29
handful in in the races now that have

25:31
actually run a business and met a

25:33
payroll am I right yeah definitely

25:35
they're out there and I've been

25:37
listening to some of their I don't like

25:39
politics but I am I am because of my job

25:42
I have to stand up but I do like hearing

25:45
good ideas so I have been listening to

25:48
some of the people that have thrown

25:49
their hat in the ring that aren't as

25:50
popular and don't have a chance and

25:53
don't have a chance but man they really

25:54
have some great ideas Unfortunately they

25:57
just won't ever get there and part of

25:59
the problem is this country has adopted

26:01
a sports team mentality but for Quality

26:04
so well if you find that you are rooting

26:09
for your team regardless of how bad the

26:12
person is or their ideas are you're

26:14
doing it wrong that is not how we should

26:17
be thinking about politics we should be

26:19
voting for people with the best new

26:21
ideas and the best leadership ideas not

26:24
because they wear the right lapel pin or

26:28
uh or have the letter by their name it

26:31
just doesn't make any sense and it just

26:34
really frustrates me into no way and

26:36
here's the two reasons it's not going to

26:38
change the first reason is always tell

26:39
people think of the dumbest person

26:40
you've ever met at a cocktail party of

26:42
when you stop talking to them you felt

26:43
like you lost IQ that person votes and

26:46
they vote nullifies you the other thing

26:48
that is a scary one is sixty percent of

26:52
the of adults in in the United States

26:53
have less than 400 on their checking

26:55
account that's right so they're going to

26:57
vote differently about monetary policy

27:00
their voting survival

27:02
that's they're voting them and you can't

27:05
really blame them but sixty percent

27:07
moves the needle and the politicians

27:09
certainly know that I always have to

27:11
remind my clients I'm sure you do yours

27:13
as well whether you think you're the

27:15
evil rich you are

27:16
you you are the evil rich politically so

27:19
you know live your life maximize do the

27:23
best you can but you're not going to be

27:24
able to move the needle because you're

27:25
being out voted and that's doing that's

27:28
that's going to increase over time

27:31
in my opinion

27:33
um do you agree I do unfortunately

27:36
that's yeah even someone who I mean you

27:39
could be looking at a couple of retired

27:41
teachers who have either a pension or a

27:43
401k that they funded their entire lives

27:45
and they have a moderate amount of money

27:47
they'll probably have a nice retirement

27:50
they're never going to be rich but guess

27:52
what they're rich that according to

27:54
politicians they are the evil rich and

27:57
how can you say that about a couple that

28:00
has worked their entire lives and did

28:02
everything right and probably made a lot

28:04
of sacrifices to get there and then

28:06
they're the bad guys I mean how what is

28:09
wrong with this country and why are we

28:11
viewing things that way it just doesn't

28:13
make any sense it is sad if peop there's

28:15
a book that Adam Adam and I both are

28:17
familiar with is from way back called

28:18
Millionaire Next Door A Millionaire Next

28:21
Door describes what Adam just talked

28:23
about which is people that scrimped and

28:25
saved and did without 20 years later

28:27
they look up and they have a

28:28
seven-figure portfolio yet they still

28:30
are couponing at at the local grocery

28:33
store which I get I understand those

28:36
scars of scarcity but but I always tell

28:39
people if you don't think you're rich

28:40
you are and I give them that you know

28:42
six out of ten people I just say hey

28:43
you're driving down the road whatever

28:44
road that is six of those cars around

28:46
you of the ten cars you see have 400

28:49
your checking account drive slow and

28:51
drive in the right lane please because

28:53
that's the reason for the legit

28:55
litigious nature of this of this country

28:57
question

28:59
um what are the potential

29:01
hiccups speed bumps pitfalls that you

29:04
see

29:05
that might happen but you hope don't

29:07
going forward

29:09
well I think we addressed some of them

29:11
we've got the issues in Asia China and

29:14
uh and Russia and so those are those are

29:17
the big ones right now in my mind

29:19
um the other ones would be a a sudden

29:22
turnaround in the inflation data that

29:24
would be a bad one right now the

29:25
inflation data is heading lower as it

29:28
should after after a disastrous last

29:30
year where we saw above nine percent

29:32
inflation and that's what the government

29:34
admits to so you know it was even don't

29:36
you think they're cooking the books and

29:38
as soon as they can

29:39
politically feel like they can lower

29:42
rates they will

29:44
hmm that's a good question I don't know

29:47
what Powell's gonna do they've been

29:49
signaling they're going to go even

29:50
higher which I think is a mistake at

29:52
this point totally it's a total mistake

29:54
even though it makes me very very

29:56
successful in my hand

29:59
um you know we we're going 100 miles an

30:01
hour but sure I can't see it I I don't

30:03
see the justification I don't see it

30:06
either I don't think they've given it

30:07
enough time for the rate hikes to work

30:09
their way through the system it takes a

30:10
long time as we know for things to for

30:14
the financial world to have a reaction

30:16
to things that have happened so think

30:18
about covid we didn't see inflation top

30:21
out yeah nine percent until last summer

30:24
that's 2022 covet happened in 2020 so we

30:27
were pumping money into the system for

30:29
over a year and a half two years before

30:31
we really saw the repercussions now they

30:34
expect to lower rates over the course of

30:36
what eight nine months and then

30:38
determine whether or not it's worked on

30:40
the ninth month no you have to give it

30:42
an equal at least an equal amount a time

30:45
for that it took for the inflation to

30:46
pop up for it to go away so it just

30:50
doesn't make any sense for them to

30:51
expect an immediate read on how their

30:54
actions have affected the economy when

30:56
that isn't what happened on the other

30:58
side

31:00
pivot again because that's how my brain

31:03
works Adam you know

31:04
um these ESG funds in that what they're

31:07
called the environmental I read an

31:09
article last night that when I read it I

31:12
I literally put my phone down and just

31:14
just let out the biggest groan because

31:17
what it was saying was

31:19
there's one lady that literally decides

31:23
who's who's acceptable

31:25
I forgot who she works with it could be

31:27
one of the big firms I don't know but

31:29
she had put

31:30
Exxon in front of Tesla yeah and I'm

31:34
thinking of my and and I'm not at listen

31:37
muscus is is a is a freak he's an alien

31:40
he's smart I could carry either way okay

31:42
but he had a good point how are they in

31:44
front of him and he's not putting out

31:46
any carbon emissions and it comes down

31:48
to political but I also saw the money

31:51
raised in these funds was like upwards

31:54
to 30 trillion or some crazy amount

31:58
tell me your take on this and how is it

32:02
affecting markets and decisions that you

32:05
have to make even though you might not

32:07
agree with it absolutely so

32:10
first of all the politicism

32:13
politicization like if I could talk is

32:16
of everything is just so far beyond what

32:19
I ever thought it would be and this is

32:21
this issue is about as politicized as it

32:25
could be explain to people what it is I

32:28
mean I just threw out ESG as an acronym

32:29
I'm sure that's the right one but yeah

32:31
it stands for E stands for environmental

32:33
yep social and governance and what the

32:36
what it is is basically a ranking score

32:38
for for companies that want to be

32:41
considered uh politically correct

32:44
whatever uh environmentally friendly

32:48
um uh promoting what's the Genesis of

32:50
this it's not it's not been around a

32:52
long time Adam where did it come from

32:53
was it a black rock thing nothing

32:55
against BlackRock I have not I love

32:57
their building in Manhattan walk by it

32:58
all the time

33:00
yeah I I think it it all came out of uh

33:04
it it actually came from demand in the

33:07
marketplace and so people want to invest

33:10
especially younger people these days

33:12
they want to invest in ways that they

33:15
think are going to save the planet and

33:18
so that's that's where it came out of

33:20
the idea came out of something that was

33:22
probably good like most things and then

33:25
it got Twisted into this what it is

33:27
today which is a political ranking of

33:30
companies that uh that do the most for

33:34
politicians to consider them

33:36
environmentally and socially responsible

33:38
and so that's where we are today and the

33:41
problem is now

33:43
also look at this you you can own spy it

33:47
owns the it owns every five all of the

33:49
500 companies in the S P 500 or that's

33:52
the that's the ETF right it's an ETF

33:55
yeah or you can use the ESG ETF that

33:57
takes the at the S P 500 cuts out a

34:01
handful of companies that they don't

34:02
consider environmentally and socially

34:04
acceptable and they'll charge you maybe

34:08
60 more basis points to own the exact

34:11
same thing without a hundred other

34:13
companies and guess who makes more money

34:15
the ETF companies so who who do you

34:19
think the ETF companies aren't lobbying

34:21
to try and get this included in

34:23
everyone's 401k and Pension Plan why

34:26
because they make 60 more biffs every

34:28
time you own the ESG fund versus the the

34:30
S P 500 fund yeah

34:39
is an internal thing that us and the

34:42
business talk about people like bibs

34:44
what the heck is a bib yeah here's

34:46
here's the interesting part about that

34:48
is once again just kind of being the the

34:51
street person that I am grew up toward

34:53
North Carolina and and you know here we

34:55
are

34:57
um

34:57
if some per if it if it

35:01
monetarily benefits a company to be on

35:03
that list I'm going to tell you right

35:05
now people getting paid off I don't care

35:07
how what anyone says there's nothing

35:10
honorable going on on the background if

35:12
I know that I'm going to get extra

35:14
trillions or billions or hundreds of

35:16
billions in my coffers if my company

35:19
makes it on that list and there's a

35:21
handful of people that make that

35:23
decision

35:24
the handful of people making that

35:26
decision have are doing well and I think

35:29
that's the problem with it I don't I'm

35:31
like you conceptually got it understand

35:34
it there's an argument for it I

35:36
understand it but it's being bastardized

35:39
and I actually think it's it's

35:40
disrupting

35:42
normal flow within the business the

35:45
media doesn't cover it like the cnbc's

35:47
and the fox business because those

35:49
people buy ads right no doubt about it

35:52
uh yeah and getting on that list is is

35:54
very very important and you can I can

35:57
assure you that there's nobody who's

35:59
making the decision about who gets on

36:01
that list that isn't rich I wonder why

36:04
what's up bonds for a second bonds have

36:06
gotten the crap slapped out of them and

36:09
I love when people go well I've got Safe

36:10
Money and bonds tell me like two years

36:12
ago I'm like listen player

36:15
bonds are volatile there's more bonds

36:17
and they're all stocks and let me tell

36:19
you something be careful with closed in

36:20
bond funds and all that stuff you know

36:22
they used to do that in a previous life

36:24
and Adam does that every single day

36:27
Adam weigh in on bonds and what you're

36:29
telling your clients right here man I

36:31
love bonds today I really do it makes my

36:34
job so much easier when I can put a a

36:38
handful of their uh a portion of their

36:41
Investment Portfolio in something that's

36:43
going to yield you know four to six

36:45
percent and has an almost guaranteed

36:49
principal return at the end of the

36:51
period so I'm buying individual bonds

36:53
I'm buying treasuries I'm buying CDs

36:55
right now and we're putting a good

36:56
amount of money and all of those and

36:58
getting a nice return now the

37:00
opportunity cost of that is that that

37:02
money wasn't in QQQ or the NASDAQ

37:05
ETF or or something else this year and

37:08
so it didn't make 30 so far but that's

37:11
not what we were shooting for with that

37:13
part of the portfolio we're shooting for

37:15
a safe guaranteed return and bond prices

37:17
are down and yields are up to me that's

37:20
a buying opportunity I I really like

37:22
bonds I think like you that the

37:24
government is itching to bring rates

37:26
back down absolutely as they can and

37:28
when that happens bond prices will rise

37:30
and so if you own it you're getting a

37:32
great yield and the price is going to go

37:33
up seems like a no-brainer yeah the

37:36
correlation I make with bonds and the

37:37
and blue palette and the Dutch boy

37:39
haircut yelling love her haircut by the

37:42
way

37:43
um is that

37:44
think about if you had a mortgage

37:48
a lot of people don't there to listen

37:49
but they just assume that you do and you

37:51
just raise the interest rate and you

37:53
just keep raising the interest rate

37:54
eventually that don't make sense because

37:56
you got to service the debt and you're

37:58
going to lower it it's that correlation

37:59
is that simple with what the fed's doing

38:02
with 30 plus trillion however you want

38:04
to count it in debt every time they

38:07
raise that interest rate

38:09
that payment gets a little more chunky

38:11
and that's the reason I think that all

38:14
of these this data can be cooked

38:16
politically and presented through the

38:19
media politically to justify the

38:22
lowering of the rates that's the reason

38:24
I think as soon as they feel like they

38:26
have cover to do that

38:28
they will it'll probably be after the

38:30
election which makes me mad but you know

38:33
it is what it is do you agree with that

38:35
I do I do I completely agree it's the

38:38
same reason they can't tell you that

38:40
what the actual inflation numbers are

38:41
because every time inflation goes up

38:43
they have to raise Social Security by

38:46
the equivalent amount and so it benefits

38:48
them to lie to you on the low side so

38:51
they don't have to raise Social Security

38:52
as much as inflation is it really is or

38:55
in some of the calculations they don't

38:57
include gas or food okay great that's

38:59
fantastic yeah that that doesn't play

39:01
into anybody's inflation I always tell

39:04
my clients first of all inflation is

39:06
customizable meaning it affects everyone

39:09
differently secondly if you're well off

39:12
and the evil rich please stop bitching

39:15
about that because you're going to be

39:17
fine it's a moment in time for you it

39:19
always hits the low end of society the

39:21
worst those six out of ten driving

39:23
around with 400 in a checking account

39:25
inflation is a four letter word trust me

39:28
on that one but for the rest of us that

39:30
are fortunate most of the people that

39:31
are listening to this podcast

39:33
yeah you've scrimped and saved and done

39:35
with that and you're here for a reason

39:36
monetarily and financially but you can

39:40
buy the eggs you'll be good you can

39:41
afford the eggs you can afford the gas

39:43
you know my I tell a story about my wife

39:46
calling me from the grocery store and

39:47
saying can you believe the price of eggs

39:48
is a few a little bit a little a few

39:51
months back and I'm like buy every egg

39:52
buy every carton buy them all we're good

39:55
you know don't worry about it okay it's

39:58
for the person that has five kids and

40:00
and they're not making it that's those

40:02
are the people that I'm I'm truly

40:04
concerned about another question that

40:06
popped in my head was

40:08
we we know of all the mistakes that

40:11
investors make you know panicking not

40:13
you know it's not staying of course all

40:15
that stuff what are some new mistakes

40:17
that are that are making you scratch

40:19
your head that you're that you're

40:20
hearing what are the new ones that

40:22
people are saying I mean the new ones

40:25
are just the old ones that they

40:26
repackaged yeah

40:30
the worst one that I've seen lately is

40:32
that people who were so excited to get a

40:35
five percent return on a treasury bill

40:37
are now calling me and regretting buying

40:40
the t-bell because they could have put

40:42
it in the the market and made 15 oh God

40:45
oh my God it's so frustrating you that's

40:49
why you have a balanced portfolio you're

40:52
happy with the five percent on that

40:54
portion and you're happy with the 15 on

40:57
the other portion and you're never gonna

41:00
get it exactly right you can't time the

41:02
market

41:03
and so it's just the same old same it's

41:05
the same old same old it's amazing it's

41:07
amazing that people

41:09
um you know we're back to where we were

41:11
from the standpoint of the country

41:12
having more credit card debt than we've

41:14
ever had you know all of those I'm never

41:17
gonna let that happen to me again to

41:19
those like 2008 really okay

41:22
um that's the reason that I love Adam's

41:24
approach uh van wefinancial.com again

41:26
I'll have it don't have to write it down

41:28
I'll have all this contact information I

41:30
encourage you to talk to him no

41:31
obligation no cost he'll talk to you

41:33
Adam with that being said can you

41:36
explain your approach

41:39
that you feel separates you from other

41:43
fee only

41:44
planners and explain that as well

41:47
sure uh first of all I I think that if

41:50
you are going to hire a financial

41:51
planner please find a fiduciary please

41:53
find someone that's fee only I am not

41:56
the only one I think I'm the best one

41:57
but that's that's personal yeah you know

41:59
I got to call your wife and see if she

42:01
concurs but I'm not sure can you call

42:03
someone else who likes me more exactly

42:05
all right but I think that I think that

42:08
with us you do get a very Personal Touch

42:10
we meet with all our clients uh up to

42:13
four or five times a year we send out

42:15
reminders four times a year and that

42:17
could be virtual that could be face to

42:18
face it's their call correct yeah

42:20
there's we have clients all over the

42:21
country

42:22
um and so it's not it's not limited to

42:24
northeast Florida although the bulk of

42:26
our clients are here sure uh but we're

42:29
very personal we know all of our clients

42:31
really well we know their situations we

42:33
do a a financial plan for all of them

42:36
most of them anyway some people just

42:38
want uh just want us to manage their

42:40
money that's fine but a lot of people

42:41
what they what they do want is a little

42:44
bit more than just someone to manage

42:46
your money they want to take a look at

42:48
their entire Financial picture figure

42:50
out how to how to make sure that they

42:52
never run out of money in retirement

42:54
figure out how to what the best cost

42:57
effective uh ways are to distribute

43:00
their money in retirement

43:01
um we consider taxes we consider it is

43:04
consider estate planning we consider

43:05
insurance we really look at the whole

43:08
picture there is I think that that is if

43:11
someone just wants to talk about their

43:13
investment strategy with you and doesn't

43:14
want to talk about your whole financial

43:15
picture you're probably in the wrong

43:17
place explain fee only versus fee based

43:21
sure feebased is just a term that uh

43:24
that people who sell things use to try

43:27
and look like they're fee only honestly

43:29
they're double they're double dipping in

43:31
this exactly so they'll have a portion

43:33
of what they do that's fee only but then

43:35
the other portion is commission based

43:37
and so fee based is just a kind of a

43:40
slick way of trying to sound like what

43:41
we are which is fee only which means we

43:43
don't sell anything we don't make any

43:45
commissions we only are we make money

43:48
based on the the port managing or

43:50
portfolio it's a percentage of the total

43:52
assets sure the reason that that I think

43:54
that that is better is that when you

43:56
have more money we make more money so

43:58
our incentive is to grow your assets you

44:01
get wealthier we get wealthier it works

44:03
out for everybody now I'm not saying

44:05
that commissioned people are bad that is

44:07
not thank you because that's me but I

44:09
understand but but seriously I tell

44:12
people all the time for your non-annuity

44:14
portfolio you need a fee only planner

44:16
period you know you can't have all your

44:18
money and annuities I won't let you and

44:20
a lot of people don't need them so but

44:23
that's the reason that I have you on so

44:25
people have because in essence I've

44:27
vetted Adam you know I've known Adam for

44:30
a long long time every single person

44:32
I've referred to him comes back with

44:34
glowing

44:36
um comments and they love working with

44:39
him so I would encourage you to to check

44:41
him out if you can kind of tell from

44:43
just the way people talk and their

44:45
demeanor I would encourage you if you're

44:46
listening to the podcast is to go with

44:48
my fun go on my fun with annuities

44:50
YouTube channel check him out you know

44:52
he's kind of a kind of a Dashing Young

44:54
man

44:55
um you know I can say that because I'm

44:56
I'm old

44:58
um we got a few minutes but I I wanted

45:00
to get your input on artificial

45:04
intelligence

45:06
the AI thing is the acronym that I think

45:09
is going to dominate the next couple

45:11
years

45:13
how is it going to affect

45:16
the market if at all and if it's so how

45:19
tell me tell me your take on all this it

45:22
already has uh honestly we in the last

45:24
couple weeks we've seen AI related

45:27
businesses and just Tech in general just

45:30
take off I mean it has been incredible

45:32
that this entire Market rally over the

45:35
last month has more or less been

45:36
dedicated or been driven by AI

45:39
um it's such I really think it's an

45:41
untapped uh sort of resource that we're

45:44
just now getting a handle on now it's

45:47
also really scary because some of the

45:49
things you can do with it are just it is

45:51
it is nuts it is yeah so it scares me a

45:54
bit but at the same time the the

45:56
potential of what it can do is is pretty

45:58
amazing I think that uh I think that if

46:01
you don't have a portion of your

46:03
portfolio dedicated to Tech or AI

46:06
related things that it's probably a

46:07
mistake I think that everyone should

46:10
have a little bit in there because

46:11
that's where all the Innovation is

46:13
coming from right now and I've said this

46:15
for a long time people always ask me

46:17
Adam is the is the tech is Tech

46:19
overbought is it is it is that trade

46:22
done and and I say no I don't think it

46:24
is even though it's seen you know 20 30

46:27
returns many times over the last 10

46:29
years I think it still has room to run

46:31
because that's what's driving the whole

46:33
economy forward right now is innovation

46:36
in the tech space and and man I think

46:38
this this new technology is just we're

46:40
at the Forefront of AI not not in the

46:42
middle or at the end you know we've

46:44
talked about if you said what's the top

46:46
three new innovation sectors that you're

46:49
probably following it's it I don't know

46:50
the order but it's artificial

46:52
intelligence number one or two

46:55
blockchain would be number one or two is

46:57
there a third one that I'm missing and

46:58
not thinking about

47:00
uh I mean those are those are clearly

47:02
the two biggest but I think there's a

47:04
lot of sort of ancillary Industries

47:07
related to those

47:09
um I I guess you could make an argument

47:10
for like the battery uh the battery

47:13
space man that's a good point yeah I'm

47:16
like Adam you know if if you know on the

47:19
side we should start the company to

47:21
develop the battery I don't have I don't

47:23
have the background on that I'm hoping

47:24
you do

47:25
um but that one is the killer app so

47:28
literally those three

47:30
I think looking into those three that's

47:34
where it's going to happen my opinion of

47:35
course I'm probably wrong but those are

47:38
the obvious ones in my in my opinion

47:40
yeah I I agree I I think that no matter

47:43
what you're doing you've got to power it

47:44
so you've got the batteries the AI is

47:46
sort of the well yeah yeah it's uh so I

47:50
I think those three areas and and

47:51
honestly you can own all of those by

47:53
owning certain Tech funds it's not uh

47:56
it's it's not like it's difficult to do

47:58
in fact if you if you can imagine it

48:00
there's probably an ETF that exists for

48:02
it already today uh that's how that and

48:05
if not there will be yeah and that's why

48:08
you need to talk to Adam don't do the

48:10
research call Adam for God's sakes I

48:12
mean that's what he does every single

48:13
day he's thinking like that I ask him

48:15
that question not knowing the battery

48:17
answer but when he said it I think the

48:19
entire country listening to this podcast

48:21
went oh yeah and that's the OEM moment

48:25
of why you don't need to be doing it

48:27
yourself you Masters of the Universe out

48:29
there either

48:30
and you need to hire a good team around

48:34
you to take care of your financial

48:38
stuff

48:39
and because you know one of the things I

48:41
always tell people Adam you probably do

48:43
too chapter two of your life your

48:45
part-time job is your money and your

48:47
state in your family in addition to your

48:50
health and getting things lined up and

48:52
that's what I love about what Adam does

48:53
he gets all that lined up and so that

48:56
when you meet with him

48:58
um whether virtually or in person he's

49:01
going to provide those detailed answers

49:03
I thought of an interesting marketing

49:05
plan for you Adam because we you know

49:07
one I live part-time here Adam lives

49:09
here and there's the Mayo Clinic and the

49:11
Mayo Clinic is I think here Jacksonville

49:13
Minneapolis and Arizona okay people fly

49:18
in all the time to the Mayo Clinic I

49:20
mean to get into the Mayo Clinic is

49:22
impossible there's a waiting list

49:24
think about this why wouldn't you just

49:27
fly in to Jacksonville go to

49:28
Jacksonville Beach hang out

49:31
and go see Adam once a year why wouldn't

49:33
that be part of your retirement and just

49:36
people flying in like the Mayo because

49:38
people fly into the Mayo because they

49:40
know they're going to get honest advice

49:42
and top-notch service and the best

49:45
that's Adam seriously and I and I'm so

49:49
happy and proud to have him on Adam we

49:51
gotta we gotta tie it up here because we

49:54
both you got to get to watching the

49:56
screens and doing your thing

49:58
um but what we do as you know at the end

50:00
of um the podcast on fun with annuities

50:03
is we do a mic drop moment of which I'm

50:05
going to count you down 54321 and you're

50:07
gonna wow us at them there's no pressure

50:09
whatsoever you're going to allow us with

50:11
a short Soliloquy comment that people

50:15
are gonna listen to get in their car get

50:17
on that treadmill and go man that made

50:19
my day so no pressure whatsoever here we

50:21
go Adam Van we in five four three two

50:26
one go I think the best thing that I can

50:29
leave you with right now is just don't

50:32
be that guy that makes all the classic

50:35
mistakes in investing I mean if the last

50:38
year has taught us nothing it's taught

50:39
you that if you sold out last year in

50:42
July or August or October

50:46
look at what's happened to the market

50:47
and no one no one was predicting what

50:49
happened this year in the market and so

50:51
you have to have a plan you have to stay

50:54
the course don't be reactive don't try

50:57
and time the market you will end up

50:58
hurting your own results and you you

51:01
won't get anything positive out of it

51:03
just don't be that guy I I can't stress

51:06
it or now you can't do it you can't

51:09
predict what's going to happen in the

51:10
market don't try just stick with your

51:13
plans set a good plan history tells you

51:15
that it's going to work trust it it will

51:18
happen even when things look really

51:20
really Bleak like last October that

51:22
there's always a the the turnaround is

51:25
coming got it that's Adam then we have

51:28
been we Financial I want to thank all

51:29
the people listen to us on the major

51:31
podcast platforms and the YouTube

51:33
channel fund with annuities I will see

51:35
you next time

51:41
[Music]