facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
Coasting in Retirement Ep 25: What we learned about money in 2023 Thumbnail

Coasting in Retirement Ep 25: What we learned about money in 2023

Episode 25: What did we learn about money in 2023? And what’s in store for 2024?

 Segment 1 (Show Open):

Good afternoon, everyone! Welcome in. Welcome to Coasting in Retirement! That’s. Right. Thanks for joining us today, we’re excited to have you! Josh Null here, joined by the one and only Michelle Lee Melton, the R2D2 to my C3PO, the Woody to my Buzz Lightyear…Michelle, Happy New Year to you and all of listeners…how are you doing? We’re back in College’s recording studio, beautiful downtown Fairhope, kicking off our first show of 2024. 

Listeners: Michelle and I are here today to discuss financial topics relevant to those of you in or near retirement living your best life along our part of the gulf coast. Here’s what we’ve got in store for you today: First segment – deep dive on our topic of the day. 2nd segment - at about 20 minutes past the hour - fan favorite, “Michelle with the News of the Week”. 3rd segment, roughly 40 minutes past the hour,” Josh’s Crystal Ball and…(Michelle:) Big Mouth”. That’s right, big mouth. So buckle up, we’ve got a lot to get to!

Quick background on me for those new to the show. Again, my name is Josh Null, I am a fee-based financial advisor, I hold my FINRA Series 65 securities license, and I am the owner of Gulf Coast Financial Advisors, an independent investment management and financial planning firm with offices in Fairhope and Orange Beach, Alabama. You can find more information on me and Gulf Coast Financial Advisors by visiting our website gulfcoastfa.com, or feel free to give us a call at 251-327-2124. If you missed that, don’t worry, we will repeat our contact info several times throughout the show!

So Michelle, do you realize we started this show in December of 2022? That means we were on the air for the entirety of 2023 – what a year - would you say, as it relates to the economy and investing, that things went all according to plan? What did you think was going to happen financially in 2023 that was wrong? (Josh – I was convinced there was no way to avoid a recession). From inflation to war to white collar crime to interest rates to stock market volatility, the market always gave us enough surprises to fill a show. With that in mind, today we’re going to talk about what we learned about money and investing in 2023, we’re going to make some predictions about 2024, and most importantly, were going to discuss why these things matter to those of you in or near retirement. 

I’m going start with what I thought was the biggest surprise of 2023, that the U.S. economy somehow avoided a recession. I want to also give my thoughts about a recession possibly coming in 2024. Let’s start with what most, if not all, economists forecasted in the beginning of the year – that with inflation above 6%, food inflation at 10%, and the Fed committed to raising rates quickly - a recession was unavoidable. Yet, by no economic measure, did we hit any true recessionary milestones this past year. How did we avoid them? I think, above all else, the American consumer saved the day. We kept buying things – maybe not at Covid levels – but the economic churn was enough to keep most consumer-facing businesses in the black. Second, and as baffling as it is to Michelle and me, unemployment stayed low and job growth stayed strong. Then you add in an exciting, promising, terrifying new technology – no, I’m not talking about crypto – I’m talking about artificial intelligence, or A.I., which stoked not just billions of dollars of new investment dollars but also elevated some of 2023’s stock winners to even greater heights – think Google with Bard, Microsoft with OpenAI, Nvidia with it’s AI chips, Facebook, etc. These companies were already carrying the water for the majority of 2023 stock market’s gains, and the AI pivot just added that many more billions of market cap to them. 

Now, will there be a recession in 2024? Math tells us that the stock market is overvalued, possibly even historically overvalued in some sectors, and it takes time for lower interest rates to work their way thru the economy but let me say this – if 2023 taught us anything, is that forecasters don’t know…stuff. I know many if not most professional forecasters are highly trained, highly skilled, and useful for larger macro-economic decisions by larger corporations, but for those of you in or near retirement, especially you local small business owners, I would trust my gut over just about any economic forecast. And remember, if thoughts of a market correction, or worse, a market crash, keep you up at night, there are things you can do in your portfolio to protect yourself. In fact, there’s probably never been more options to preserve capital and generate income in retirement than there are right now. You want to do your homework, and always remember that most financial salespeople are giving you the sunny side up with their sales pitch, but it’s worth your time to investigate your options. If you’re interested in that conversation, give us a call at 251-327-2124 or make an appt on our website gulfcoastfa.com.

You know what else we learned in 2023, Michelle? That diversification matters, particularly with folks in or near retirement with a heavy concentration of fixed income and fixed interest investments. (Josh – briefly describe diversification). As we’ve discussed on our show before, bonds had their worst year…ever…in 2022, and in fact, were broadly down in 2021 as well. And things didn’t look any better in 2023, with bonds still underwater until mid-November, which would have resulted in an early unprecedented 3 straight years of bond losses. Instead, bonds had a historical rally, and ended the year on a positive note. What changed? Remember, bonds are debt instruments, that is, you lend a corporation, or a municipality, or the federal government, a certain amount of money in exchange for a guaranteed interest over a certain period of time. While new bonds offered higher rates of returns to be more attractive to investors, existing bonds did not change their terms on the fly, so prices decreased across the board until a few weeks ago…so again, what changed? Hope. That’s it. As famed value investor Benjamin Graham once said, the stock market is a voting machine in the short run and a weight machine in the long run. And when Fed Chairman Jerome Powell gave investors hope that interest rate cuts are ahead, investor sentiment flipped and resulted in a bond rally. 

So what does this mean for retail investors, especially those in or near retirement? First, don’t assume the bond part of your portfolio will sidestep volatility in 2024 – all it takes is the Fed to not meet investor’s rate cut expectations, and bond prices will once again fall – but if interest rates actually decrease, you should see further rebounds in existing bond prices, and it’s also a good lesson to remember why you carry bonds and fixed income in your portfolio. Historically, the bond part of your portfolio – think the classic 60/40 equities to fixed income portfolio mix – was supposed to balance out the ups and downs of your stock market positions. That got thrown out the window in 2022, and took nearly all of 2023 to rebound, but remember, again, why are you buying these types of investments. Yes, you hope for stability, but you should also be searching for interest and dividends from quality corporations, municipalities, and of course, our own federal government. And in some cases, depending on your risk tolerance, you might even take a look at what’s called high yield bonds, commonly known as junk bonds, which ended the year with better than historically performance rates. Does this stuff confuse you? No worries – it’s our job to handle this for you and educate you as much as you want to be – give us a at 251-327-2124 or schedule appt on our website, gulfcoastfa.com. 

I’ve got one more big thing we learned in 2023, Michelle, and it’s something we discuss often on our show – annuities. We learned, that despite the Ken Fisher’s, Suze Orman’s and Dave Ramsey’s of the world broadly criticizing them, annuities had their biggest sales year in 2023, beating their last biggest sales year in 2022. I know we’re going to discuss this in more detail with your headlines Michelle, especially a recent SEC action against an annuity salesperson, so let’s just briefly touch on this for now. As you regular listeners know, I too get irritated with folks in my industry that oversell annuities, particularly those that only focus on the positive aspects of an annuity or use misleading language such as  “it’s a bond alternative” or use high pressure sales tactics. But I also get irritated by folks that lump all annuities into one basket, and don’t take the time to explain the differences between annuities, usually because they are trying to sell against them. 

The bottom line is, for those of you in or near retirement, looking for capital preservation and income production, know your annuity choices, at least broadly. Demand to see the difference options. Understand if you’re dealing with an insurance-only licensed agent or a securities licensed advisor. Know what fee-only and fee-based means. Michelle’s favorite annuity to say – Single Premium Immediate Annuities, or…SPIAs, have a radically different role than a Multi-Year Guaranteed Annuities. A Variable Annuity has costs and complexity that a Deferred Income Annuity will not, and while there is some overlap with the purpose of a VA and a DIA, the placement of each kind needs to fit your specific situation, not the sales quota of the person presenting. If you are in a position where you would like to preserve capital and produce income in retirement, then an annuity may be part of your financial planning conversation. If so, get armed with knowledge, or find someone that will take the time to educate you. Especially with annuities where you give up significant control of your money. 

I have a couple of other things we learned in 2023, Michelle, but I’m just going to throw them out there – maybe you have some feedback. One thing that comes to mind that is that, despite literally nothing fundamentally changing in the value proposition, and many people going to jail, crypto still isn’t dead, in fact, the biggest crypto currency Bitcoin ended the year with pretty significant gains. I guess I would be more interested in learning more if there had been some breakthrough in the use of crypto – payments? No. Acceptance as valid currency in strong, sovereign nations? No. A crack down on money laundering and nefarious activities? Maybe, I guess you could point to the FTX and Binance prosecutions, but that should scare investors, not encourage them, and here we are again, the Bitcoin Beanie Baby musical chairs just keeps on going. Who will be left holding the bag when this financial circle jerk ends? History tells us that, unfortunately, it’s retail investors that usually get screwed. Those of you in or near retirement – stay clear of this nonsense. 

Lasty, we talked about artificial intelligence in our reasons why the market rallied this year, but I’ve got to get more educated before I start bloviating on our radio show. I am using Google’s Bard to see if it will spit out a readable Coasting in Retirement book, so stay tuned. 

So there it is folks, some of our major takeaways for 2023, and thoughts about where we are headed for 2024. I think if those of you in or near retirement learned anything, it’s the value of having a financial plan and an experienced advisor by your side in 2023. What a ride to take by yourself. If you’re interested in working with an advisor, or maybe you’re not happy with your current advisor or broker, then give us a call at 251-327-2124 for a no obligation, no pressure, no BS conversation, or find us at gulfcoastfa.com. That’s gulfcoastfa.com.

Alright folks, coming up next - There’s always a lot going on in the world! Particularly the world of finance- this past week was certainly an example of big news in finance! Every week Michelle and I scour the interwebs for helpful financial articles related to our topic of the day, especially articles that pertain to those in or near retirement. Join us after the break to hear Michelle and I discuss this week’s relevant headlines in our “Michelle with the News of the Week” segment. Stay tuned!

Segment 2 - Michelle with the News of the Week:

Josh: “Welcome back to Coasting in Retirement, your host Josh Null here! As we discussed before the break, every week Michelle and I scour the interwebs for helpful financial articles related to our topic of the day, especially articles that pertain to those in or near retirement. Our job is to help you all understand how these headlines impact you, especially when it comes to your money! We also include the articles links on our show transcript, which you can find on our website gulfcoastfa.com under the podcast tab. So, without further adieu, here’s “Michelle with the news of the week!”:

1. Michelle: Alright Josh, let’s kick it off with an article from The Guardian titled, “Smiles all round as financial markets end 2023 on an unexpected high”. This article details how growing confidence in a soft landing for the US economy led to a “everything” stock and bond market rally, and goes in detail on several investing sectors, such as tech, artificial intelligence, bonds, gold, and even Bitcoin. This article also touches on something we discussed in the opening segment, that the so-called “Magnificent Seven” stocks – that is Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla – ended the year up 74%, versus 12% for the rest of world’s companies. I believe most of these companies are heavily involved in artificial intelligence, correct? (Josh – yes). Here’s my question for you – what do investors take away from an investing year that was basically saved in the last 7 weeks of the year? Is this real or sustainable? 

Josh:. So it’s vitally important for investors to understand how the stock market values securities in the short term. If you were only to look at the raw math methods of valuing stocks, you would often get a very different outcome than what the current indexes are telling you, for example, if you use Price to Earnings methods, or complex math to find the true intrinsic value of all the stocks on the various exchanges, that final number would undoubtedly be different than whatever the current market close was. Why is that? Because there are several external and emotional factors that go into market valuations on a day to day basis, you’ve got general economic conditions, global conditions like supply chain interruptions and war, interest rates, inflation, etc. Sometimes, if current sentiment is negative enough, some of the market is considered undervalued and there are potential for long term discounts, especially if you are a value or fundamental investor. Sometimes, like what we have currently, the market is pricing in future good news, in this case, the market believes that the Fed will start reducing the Fed Funds rate fairly quickly in 2024. If, and it’s a big if, the Fed behaves exactly as the priced valuations predict, the market will be fairly stable. If the Fed is more aggressive with rate cuts, we may see even more optimistic buying, OR, if inflation creeps back in and the Fed does not reduce rates, or Lord help us, increases them again, then current sentiment will turn negative and a market sell off will probably ensue. 

The bottom line is this – if you’ve got a long investment time horizon, then who cares, just keep buying over time and let dollar cost averaging do the job for you instead of market timing – but if you’re in or near retirement, and you’re counting on the market to stay steady or increase to make you feel comfortable for retirement, then we need to have a conversation. The worst thing mathematically that a person that relies on their retirement accounts to retire, can do is to retire into a declining stock market – it’s called sequence of return risk plus something called draw down risk – and the hard math of it all can have devastating consequences on your portfolio. Helping folks navigate these scenarios, helping them not have the bottom fall out of their retirement accounts that they worked so hard to accumulate, that is what we do at Gulf Coast Financial Advisors, 251-327-2124. 


2. Michelle: Next up, CNBC Business, with an article titled “Annuity sales are on track for a record year. Here’s what to know before buying”. So, Josh, according to this article, annuity sales surpassed $360 billion dollars in 2023, a new record, beating the previous record of $311 billion established just last year. This article describes how the Fed raising interest rates actually helped make annuities more attractive to retail investors, as both rates of return and income production increased accordingly. Here’s some interesting numbers for you: consumers bought $9.7 billion of Single Premium Immediate Annuities, or SPIAs, and $2.8 billion of Deferred Income Annuities, or DIAs, which sounds like a lot until you compare that to the $39 billion in sales of variable annuity, or VAs, and the $71 BILLION in sales of fixed indexed annuity, or FIAs. The financial planners they quoted in this article seemed to favor SPIAs, which are of course my favorite, but why did consumers so overwhelmingly choose FIAs and VAs? 

Josh: It’s not so much that consumers overwhelming chose fixed index and variable annuities, it b/c in general those are the types of annuities that pay the most commissions to the sales rep. Plus FIAs can be sold by non-securities licensed insurance agents, so there’s just a broader sales force pool. Now to be fair, FIAs are where the insurance industry as a whole has dedicated the biggest percentage of product development and investment, and I think it’s also fair to say that FIAs have improved dramatically over the past handful of years in actual delivery of performance. As to the focus of the article – a quick side note, I’m not sure why it didn’t mention MYGA sales figures – but when an advisor or insurance agent says that they prefer one specific type of annuity, SPIAs in this case, they are just showing their ignorance or lack of experience. It’s like saying you always recommend buying a car when some people might need a truck, or a van, or a in Michelle’s case, a Mini Cooper that actually runs reliably. There are some overlaps with most annuities – the basic appeal of any annuity should be capital preservation and/or income production – but each type has a very specific job. A FIA’s job is to preserve capital – zero is your hero, so says the sales pitch – while giving some potential upside capital appreciation and income production. A SPIA is to provide guaranteed income RIGHT NOW, while a Deferred Income is to provide guaranteed income at some point in the future. A MYGA is to give a guarantted interest rate. A VA is…well, I don’t really know what VA’s do well, other than pay high commissions to registered reps – but even they have death benefits and income riders that may fit some situations. 

The bottom line is this – if you’re dealing with a one-trick pony shop, where all you’re being shown is one type of annuity, at least being shown before an in-depth analysis and discussion about your situation, then you need to push back from the table, give someone that’s going to shoot you straight a call, and make sure you have all options available. If you want to do that with us, its 251-327-2124. 


3. Michelle: Let’s pivot to a news site that I’m sure makes you nerd heart palpitate – The Economist. They have a fresh off the press article titled “The five biggest market surprises of 2023”. This article details the steps Fed Chairman Jerome Powell took to convince investors that is was deadly serious about breaking inflation, including raising interest rates during this past Spring’s mini banking crisis that started with Silicon Valley Bank, BUT WAIT Josh, all of these serious talk took an unexpected pivot when previously mentioned Chairman Powell said Fed Funds rate cuts were on the horizon, sending the already euphoric stock market to near all-time highs. According to the article, the aftermath of all is this is that “American stocks started the year looking pricey and then became much pricier. Measured by the excess return expected from their earnings, over and above the “risk-free” yield on government bonds, they are now more expensive than at any time since the swelling of the dotcom bubble (see chart). I would like a Plain English explanation of this, plus your opinion on why Chairman Powell changed course so abruptly. 


Josh: Quick note on this article, Michelle. Some of the sites that we reference on this radio show have paywalls or require registration. We try to avoid those sites but the fact is most well-known websites are going to this model. The Economist only requires you to register with a name and email, you don’t have to pay to read this article, so it’s one of the least restrictive sites. However, for those of you that don’t want to register to read this article, we have downloaded it as a link on our site. You can find the article by clicking this link: https://static.twentyoverten.com/5d93dd5a8fe917454951db1b/HXQFp3NwLei/The-Economist-2023-article.pdf . 

And yes, you are correct Michelle, as someone with an Economics degree from the Harvard of the Midwest, Missouri State University, I am a fan of the Economist, especially when it’s goes full nerdville on supply and demand analysis. What the article is saying is that with a current market valuation – say today’s closing – there’s always some form of baked-in future earnings expectations, or if it’s easier to understand, investors are willing to pay a certain price for a stock b/c they believe the company’s future earnings or profits will be a certain amount. The risk free part refers the interest you would receive on government bonds, particularly federal debt instruments, and what is going on right now is that, based on current market valuations, investors are saying that they expect future earnings to be significantly above the return they could get on government bonds, at a level that is the highest since the dot.com. This, in general, is not good, b/c it implies over exuberance by investors, possibly so much that we are in a bubble. As a counter point, you could say the dot.com bubble was highly concentrated in newer, risker internet companies, and that this price spread is more widely distributed b/c we just had an “everything” stock market rally, but I do think it’s something for those in or near retirement to consider – the wave may be cresting and it may be time to take gains off the table and use for capital preservation or retirement income production. 

Now as far as why Fed Chairman Powell abruptly changed his tune, what I hope is that he has access to very detailed data that clearly spelled out that inflation is behind us and that the market is not over valued like it appears. That a tidal wave of money won’t get injected into the financial system again and we repeat this mess all over again in 2022. The cynical side of me says that he probably got tired of the political pressure and of being the “bad guy” in certain circles, but he’s always seemed unconcerned with public sentiment, unlike Alan Greenspan, who always seem to be trying to win a popularity contest. Again, all this matters as to where you are in the race. If you’re at the finish line of your working career, or past it, then having conversations about how to allocate your assets for the next 20, 30, 40+ years could be one of the most important conversations you ever have. Were here if you want to have it, 251-327-2124. 

4. Michelle: Last article for today, Josh, from our friends at the fool, Motley Fool that is. The article is titled “5 Bold Predictions for the Stock Market and More in 2024 – And Why a Few Will Probably Be Wrong”. (Josh – sounds like one of our episode titles). I’ve got to say, this guy makes you’re sunny-side up positive thinking look kind of…curmudgeonly. This guy thinks that the stock market will have a strong year in 2024, that mortgage rates will rapidly decrease leading to a run-up in housing prices, and that the Fed will cut it’s Fed Funds rate not once, not twice, but at least EIGHT times in 2024. I’m surprised he didn’t say that Russia will say sorry to Ukraine and leave, or that climate change will be solved in 2024. Do you agree with this author Josh? We have spirit, yes we do, we have spirit, how about you? 

Josh: While I appreciate the author’s enthusiasm, for him to be right, several things have to happen. First, inflation has to stay down so that the Fed can justify reducing interest rates. Second, the huge market cap gains in tech, particularly in the top largest companies, has to hold, plus they have to find room for more growth. Maybe AI will provide that room, maybe not. Small caps will have to start rallying, the Fed will have to be very aggressive with rate cuts, and mortgage rates will have to fall while somehow, someway we find a demand and supply balance in housing availability and construction. I don’t see how all of this happens at once, in fact, my gut and nearly ½ century of being on this Earth experience tells me that 2024 is going to be the economy of…real estate beige. Just, bland. No purples, no reds, no greens, just a general softening of the labor market, of unemployment, of revenue growth, of market appreciation. I’m not saying I don’t see growth or good times ahead – I’m too of a glass half full person to ever predict gloom and doom – but less anyone forget, we will have one of the most interesting presidential elections in 2024, combined with real issues overseas that will have to be addressed. 


Josh: Michelle, great job as always with the headlines, these are all important pieces of information that impacts those in or near retirement! Listeners – if you have questions around the topics in our headlines of the week, or questions related to your investment strategy or financial plan, why don’t you give us a call at 251-327-2124 to have a conversation or set up an appointment, or you can reach out to use via our contact page on our website gulfcoastfa.com.

Alright folks, coming up next : Josh’s Crystal Ball and Big Mouth. What have been some of my predictions? Have I been right? Was I ever wrong? How wrong? What do I think is going to affect investors in the near future? We talk about all of these things and poke a little fun at my big mouth. Stay tuned! 

 Segment 3 – Josh’s Crystal Ball and Big Mouth: 

Welcome back! Your host Josh Null here, along side co-host Michelle. So, I am opinionated, I have strong opinions at times, I would say a radio show host that isn’t probably wouldn’t be very interesting to listen to. And I am paid in my profession to offer professional guidance and opinions to my clients, otherwise what use am I? Sometimes I feel so strongly about something that I talk about it publicly, on the various podcasts and radio shows I’ve had, sometimes I’ll even make predictions, and while I usually proved right, there are times I swing and I miss. Want to hear me eat a little crow? Then let’s get at with Josh’s Crystal Ball and Big Mouth.  Alright Michelle, what’s first?

1. Michelle: Alright Josh, in November you stated that the stock market appeared to be headed for a weak end to 2023, primarily b/c Federal Reserve Chairman Jerome Powell was going to keep the pedal down on his “higher for longer” stance with the Fed Funds Rate, possibly even increasing it one more time to tamp down on Christmas retail demand leading to a bump in inflation. Well, neither of those things happened, in fact, the market spent the last 7 weeks of 2023 in an “everything rally” while Chairman Powell unexpectedly and dramatically reversed course, saying that rate decreases are now actually part of the plan for 2024. So whatcha got to say for yourself? 

Josh: Talk about how the economy doesn’t appear to be rate sensitive as much in the past b/c not as manufacturing based. 

2. Michelle: Josh you’ve long held that even though it’s not necessarily in their purview, the Securities Exchange Commission would eventually start scrutinizing fixed index annuity sales because they are so often used with qualified plan rollovers, such as a 401k rollover into an IRA. While the SEC is tasked with regulating the buying and selling of securities, like stocks and bonds, fixed index annuities are considered insurance products, and typically regulated by individual states. Well, it looks like the SEC is looking to make an example of a securities licensed advisor, charging Massachusetts based Cutter Financial Group earlier this year with annuity sales fraud. Apparently, the complaint includes allegations of not disclosing the commissions received from the annuity sales and how that differed from Cutter’s typical assets under management fees, plus that Cutter was compelling clients to replace existing annuity contracts even though a substantial surrender fee would be incurred. While your prediction appears to be accurate, what do you think will be the outcome of this case, and how much does it matter to the financial services industry? 

Josh: It matters a lot. Both to advisors and insurance agents, and especially to those of you in or near retirement. Remember the annuity sales numbers we discussed earlier in this episode? If the SEC is successful, it gives them a “back door” to regulating this part of the industry. First, layout why this case was brought out – the many millions of commissions generated, the fact that nearly every Cutter client was presented with the “3 bucket” approach that included a FIA (an annuity is not always the answer), also that Cutter was talking people into paying surrender charges. It also comes down to disclosures – point out your website page https://gulfcoastfa.com/team/what-it-means-to-be-a-fiduciary. Again, sometimes annuities are needed, we use annuities, but people should be careful of advisors that almost always include annuities in their planning process. And if anyone is telling you to surrender your existing annuity, pls give us a call at 251-327-2124 to get some straight advice. 


3. Michelle: Last one Josh, and I’m going to make it personal. You’ve stated MULTIPLE times that you don’t get sick. You also stated on our last episode that you probably wouldn’t be taking off work for the last couple of weeks of 2023 because you “felt guilty” when you don’t work. Well well well, according to insider information I have, not only did you get sicker than a dog in December, word has it that you didn’t do jack squat with work over the holidays. Is all of this true, and if so, care to defend yourself Mr. I never get sick and never skip work? 

Josh: I am going to sound like I am a 100 years old, no offense to those of you listening that are actually a 100 years old. 

Well listeners, I hoped you enjoyed a peak behind the curtain on how I form my opinions and predictions, and more importantly, that I’m willing to admit when I am wrong. Which isn’t very often, but still.  Now, to our listeners that have more questions the various investments and topics we discussed in this segment, we invite you to reach out to us. Call us anytime at 251-327-2124 to make an appointment or find us at on our website at gulfcoastfa.com. 

Folks, that’s it for us this week here at Coasting in Retirement! I want to give a huge thank you to my lovely co-host, Michelle Lee Melton, a thank you to our awesome radio station 106.5, many thanks to the provider of our show music, local band Sloth Racer, and as always my sincere appreciation for all of your out there that have been listening and joining us on this journey. We would love to be a part of your journey as well. Until we talk again next Sunday, have a wonderful and productive week. This has been Coasting in Retirement with Josh Null! 


Advisory products and services offered by Investment Adviser Representatives through Prime Capital Investment Advisors, LLC (“PCIA”), a federally registered investment adviser. PCIA: 6201 College Blvd., Suite#150, Overland Park, KS 66211. PCIA doing business as Prime Capital Wealth Management ("PCWM") and Qualified Plan Advisors (“QPA”). Certain services may be provided by PCIA affiliates. In this format, Josh Null provides general information, not individually targeted personalized advice, and is not liable for the usage of the information provided.  Exposure to ideas and financial vehicles should not be considered investment advice or a recommendation to buy or sell any of these financial vehicles.  This information should also not be considered tax or legal advice. Past performance is not a guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested.