Foundational Financial Buckets for Greater Financial Security (#41)

You may be missing out on some great opportunities to secure greater financial security and wealth just because you lack a few nuggets of wisdom about financial management. But you don't have to. Host Josh Nelson's can help you understand better by dipping into his well loved foundational financial buckets.   

Contact Josh Nelson for a free consultation with you about his foundational financial buckets.
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Transcript

Hi, everyone. Welcome to the Wiser Financial Advisor Show with Josh Nelson, where we get real, we get honest, and we get clear about the financial world and your money. For those of you who have been around and listened to me for a while, you know that I like financial buckets. I like using that as an analogy because sometimes, you know, a lot of the stuff gets so wonky that people get confused. And when people get confused, they tend to do nothing.
And that's the whole point here is we're learning from experts and from people who have walked before us. Of course you know, there's some there's some advantage to academics. There's some advantage to being educated. But sometimes, things can get so wonky that it gets to the point where people really can't take action on it. So today, we're going to talk about buckets, financial buckets.
And we've talked about the the protection bucket in the past. And, actually, I'll give you all four of my buckets that I use. Bucket number one is the protection bucket, and that bucket is the one that we depend on for our kind of our financial security or our sense of financial confidence being that that's where we keep our cash reserves, for example. We always recommend that you have at least three to six months' worth of moving expenses in your cash reserve. Where does that need to be?
Probably the bank, probably a money market, something that's very, very conservative or guaranteed, very liquid. Number two, it would be the insurance piece of that and it's important. Of course, we'll get to this in the future. A lot of questions around how much life insurance do I need and how much deductible should I have on my car insurance, things like that. We'll get into that in the future.
But being insured for the areas that would be so devastating financially that it would really hurt to your financial future or your family's financial future. So it's important that we've got that insurance. The other thing is how we handle debt, and we've talked about that in the past as well is that when we get over leveraged, we can get to the point where it can really impact cash flow and, of course, we could be one bad thing happening away from being financially ruined. So we like to look at those things in the protection bucket. Bucket number two would be the security bucket, and we're going to talk about that today.
That would be things that would be part of our investments. Bucket number three would be the risk or growth bucket, which would have growth type assets in it. And then bucket number four, which we won't talk about as much today, but it's a fun one to talk about in the future. That's the dream capital bucket. And that's the one that I think oftentimes gets neglected and doesn't get included as part of the plan.
The dream capital bucket, just to give you some definition of what does that mean, is that's the stuff that maybe it's not really an investment as much as something that we're just gain fulfillment out of. It's something that we're enjoying. It could be some type of a a really fancy sports car or maybe it's a second home. Maybe it's some kind of a vacation budget that would be above and beyond what maybe you normally would fit into your normal budget. Maybe it's the Disney Vacation Club, for example, or things that would allow you to go out and have some different types of experiences.
One thing I'll tell you is that I pay attention to a lot of experts. People like Ray Dalio, who manages the largest hedge fund in the world, Warren Buffett, who doesn't need any introduction, one of the most successful investors of all time, not for those of you who don't know. And, you know, of course, then we've got some other people. Paul Tudor Jones, one of the top traders of all time. David Swenson, who's managed the Yale endowment for years. So, there are a lot of people like this that we pay attention to.
One thing that they all have in common is that they will tell you the most important investment decision is asset allocation. In other words, your philosophy of investing. You might know that we covered the most important financial decision here a few weeks ago, and that is what amount are we gonna pay ourselves first before we get to the spending and paying down debt and things like that? What are we doing to pay ourselves first and have money go out automatically into investments and the things that are going aside for our future? So the most important investment decision is asset allocation or your philosophy of investing.
   And simply, it comes down to one thing, and that's what percentage are we going to be allocating towards the security bucket and what percentage of our money is going to go into that risk or growth bucket. Now, again, this is kind of assuming that we've taken care of bucket number one, the protection bucket. If you haven't taken care of that stuff, in other words, your insurance, your cash reserves, your debt, it's not even time to talk about investing. I would go address that stuff first to make sure you've got a very firm foundation. Think of it like a pyramid that the foundation of a pyramid is where all the stability is, and that protection bucket is going to be very, very important in making sure that if something bad happens, that's more or less why we're addressing that bucket.
   Something bad happens and you know it will eventually, something unexpected, that's where that protection bucket is going to come in really, really handy. So philosophy of investing buckets number two and three, security versus risk or growth. How much should be in each bucket? I could tell you that it's a lot more art than science. Although, there's some science involved when it comes to financial planning.
   People like me, our job is to ask you some good questions and help you figure out what's important to you, where you are today, where you want to be in the future, and then doing the math to figure out what needs to happen to make that a reality. But the other part of it is that the art part is that investing, as much as we might like to think that it's not, investing is very emotional. And the percentage that we have in those two buckets will more or less determine the vast majority of what our outcome will be is what percentage we're putting into each. So a couple of things. So, let's define what sorts of things we would find in those buckets.
    In other words, you might be saying, Josh, security bucket. What do you mean by that? What I mean by that, and each person has to address this individually. This is very individual as far as what they consider security type assets. Some people, though, might consider security assets things like bonds, things like maybe fixed annuities, insurance… maybe the equity in your home, things like that that would be considered pretty stable, things that aren't going to bounce around a whole lot. At least, it might give you the financial confidence that, hey. I've got this bucket. This is the one that I'm really relying on for my stability. Bucket number two then, for a lot of people, the risk or growth bucket again, will be things like stocks, real estate, precious metals, commodities, cryptocurrency, things that would have more risk associated with them.
    Now they also have the characteristic that they could grow. They have the potential of growth, of course, and we can't guarantee anything. Um, as investment advisers, we never can guarantee outcomes, um, so that should go without saying. But the risk and growth bucket is one that you would tend to have assets that you think are going to be riskier because you are after some growth. Most people don't take risk just to take risk.
   They want some kind of outcome, and that is growth. So when we're trying to figure out what these two buckets or what types of assets would fit into these two buckets, it's important to make those decisions individually. There's a lot of different varieties, of course, of all of these things. For example, some stocks tend to be very stable, and they don't tend to bounce around a whole lot. Other stocks tend to be very volatile and very risky and have higher growth potential.
   Of course, that would be why people would invest in them anyway. But they also can go down a whole lot or they can go to zero, of course. That's a possibility. So there also could be things like bonds that could be quite risky. People might think, well, bonds, isn't that supposed to be safe?
In some cases, yes. But there are risks associated with every type of investment. And so it's important that each one of us take a look at the different asset classes that we're invested in within those buckets and figure out really what percentage is going to be in both and then what is made up of that bucket. So, let's talk through a couple of different things. For example, diversification is going to be very important. Diversification within all of those things is going to be critical because if you put all your eggs in one basket, and we've all heard this a million times. But if you put all your eggs in one basket, then there really is a huge amount of risk. I would even call that speculative.
So when I talk about stocks, real estate, anything like that, I'm talking about diversified investments, something that is gonna be spread out in lots and lots of different stocks, for example. Lots and lots of different types of real estate if you own real estate. So putting all your eggs in one basket, lots of risk associated with that. Again, it's art more than science. The other thing to think about is if there's three factors that influence the asset allocation, three criteria, in other words, that you should be thinking about.
   And this will help kind of guide you as far as what percentage do I want in each. And, of course, a good certified financial planner can help you with that. They can help ask you good questions, help you figure out what really makes sense for you. But the three criteria are number one, when do you need the money? In other words, what stage of life are you in now and what stage of life do you expect to be in the future when you're actually using the money?
   Now I can tell you that a lot of people when I say that they immediately think the age. They think, well, how old am I? Is it old people versus young people? I can tell you that although there is something to be said for age, I like to kind of minimize that aspect because I've got clients that are quite old. You know, I think by most people's standards, they'd say, yeah. they're up there. And they may be very comfortable with risk. They may be very comfortable with growth type assets in their portfolio mainly because they might have a different philosophy. They might say that they're very comfortable with stocks, for example, because they've invested in them for a long time. They might even think that the money is not even for them.
For example, they might think that, hey. This is for kids or grandkids. I know that some people kind of have that thought that the money probably isn't going to even be used by them so they might consider that their asset allocation should be geared more towards growth assets. We might also have very young clients that consider themselves to be in a more precarious position because they're just starting out. Maybe they have a lot of debt from student loans.
Maybe their income isn't very high yet. Maybe they're just not very experienced in investing, so they might want a lot more in their security bucket. So the trade off, of course, is that when it comes to financial planning, there is some math involved. And the more that you allocate towards security, towards having certainty, in other words, or feeling certain that your investments are gonna be there and not be really volatile, what will you have to accept? More than likely, you'll have to accept a lower rate of return over time, meaning that in your financial planning, you'll have to make adjustments.
   You'll have to make adjustments possibly as far as time frame when you're planning on retiring or how much you're willing to put away along the way. So, there's always tradeoffs. If you're allocated more towards the the risk or growth bucket, then you'll have to just accept that there's a lot more volatility with those assets along the way. When we hit rough markets, when the economy stinks, um, and certainly that can happen at a moment's notice, the risk and growth bucket is going to be the one that's going to tend to bounce around the most. Alright. The second criteria for factors that influence your asset allocation is going to be risk tolerance. And what I mean by that is how much turbulence are you willing to accept in your portfolio?
   How much bouncing around, in other words, are you willing to tolerate before you're going to cry uncle and say, I want to get off of this aircraft. So when you think about flying, it doesn't matter how good the pilot is, how experienced they might be. It doesn't matter how well they plan out the route. It doesn't matter how expensive the aircraft is, whether it's Air Force One or maybe the cheapest, oldest aircraft. They're still all going to get impacted by turbulence.
There are things that they can do. They can try to go around thunderstorms and so forth and change altitude, but at the end of the day, if there's turbulence, there's turbulence, and that is part of the experience of flying.                Some of you might remember John Madden.
From years ago, John Madden was the Monday night football guy, and the one thing that he was really, really uncomfortable with was flying. He just hated it. He hated flying. He was scared of it. 
It was irrational, and he knew that because you're actually more likely to pass away in a vehicle accident than you are in an air accident. Nonetheless, he knew himself. He knew he wasn't comfortable with it. He was perfectly willing to shell out more money. I'm sure it was more expensive to have an RV, and it took a lot longer to get where he was going to go.
But at the end of the day, he didn't care. And so this is where it comes down to emotions. We need to do a gut check. As far as financial advisors, our job is to help you with whatever technology and tools and questions and things like that. Our job is to help you figure out what that asset allocation should look like for you because it's gonna be critically important.
And not only are you gonna reach your goals or do you have a high likelihood of reaching your goals, but also what is the ride gonna look like along the way. If you're losing sleep at night because of how your portfolio is invested, that's a good sign that you have too much in the risk and growth bucket and not enough in that security bucket or possibly protection bucket if you haven't set aside the cash and have insurance and so forth. Those two buckets are really important, those first two, because that's what gives a lot of people financial confidence to be able to invest in buckets number three and four, the ones that maybe are going to be riskier, the ones that could have,
you know, more volatility associated with them. So it's really important to spend the time upfront well before we get to the point where we're on the aircraft and a. Hi, everyone. Welcome to the Wiser Financial Advisor Show with Josh Nelson, where we get real, we get honest, and we get clear about the financial world and your money.
This is Josh Nelson, a certified financial planner and founder and CEO of Keystone Financial Services. We love feedback, and we'd love it if you would pass it on to me directly at josh at keystone financial dot com. Also, please stay plugged in with us, get updates on episodes, and help us promote the podcast by rating us five stars and also subscribing to us at Apple Podcasts, Spotify, or your favorite podcast service. Let the financial fun begin
…
Hi, everyone. Welcome to the Wiser Financial Advisor Show with Josh Nelson, where we get real, we get honest, and we get clear about the financial world and your money. For those of you who have been around and listened to me for a while, you know that I like financial buckets. I like using that as an analogy because sometimes, you know, a lot of the stuff gets so wonky that people get confused. And when people get confused, they tend to do nothing.
And that's the whole point here is we're learning from experts and from people who have walked before us. Of course, uh, you know, there's some there's some advantage to academics. There's some advantage to being educated. But sometimes, things can get so wonky that it gets to the point where people really can't take action on it. So today, we're gonna talk about buckets, financial buckets.
And we've talked about the the protection bucket in the past. And, actually, I'll give you all four of my buckets that I use. Bucket number one is the protection bucket, and that bucket is the one that we depend on for our kind of our financial security or our sense of financial confidence being that that's where we keep our cash reserves, for example. We always recommend that you have at least three to six months worth of moving expenses in your cash reserve. Where does that need to be?
Probably the bank, uh
, probably a money market, something that's very, very conservative or guaranteed, very liquid. Number two, it would be the insurance piece of that and it's important. Of course, we'll get to this in the future. A lot of questions around how much life insurance do I need and how much deductible should I have on my car insurance, things like that. We'll get into that in the future.
But being insured for the areas that would be so devastating financially that it would really hurt to your financial future or your family's financial future. So it's important that we've got that insurance. The other thing is how we handle debt, and we've talked about that in the past as well is that when we get over leveraged, we can get to the point where it can really impact cash flow and, of course, we could be one bad thing happening away from being financially ruined. So we like to look at those things in the protection bucket. Bucket number two would be the security bucket, and we're gonna talk about that today.
Uh
, that would be things that would be part of our investments. Bucket number three would be the risk or growth bucket, which would have growth type assets in it. And then bucket number four, which we won't talk about as much today, but it's a fun one to talk about in the future. That's the dream capital bucket. And that's the one that I think oftentimes gets neglected and doesn't get included as part of the plan.
The dream capital bucket, just to give you some definition of what does that mean, is that's the stuff that maybe it's not really an investment as much as something that we're just gain fulfillment out of. It's something that we're enjoying. It could be some type of a a really fancy sports car or maybe it's a second home. Maybe it's some kind of a vacation budget that would be above and beyond what maybe you normally would fit into your normal budget. Maybe it's the Disney Vacation Club, for example, or things that would allow you to go out and have some different types of experiences.
So today we're gonna talk about buckets number two and bucket number three. That will be the security bucket and the growth or risk bucket. One thing I'll tell you is that I pay attention to a lot of experts, uh
, people like Ray Dalio, who manages the largest hedge fund in the world, Warren Buffett, who doesn't need any introduction, one of the most successful investors of all time, not for those of you who don't know. And, you know, of course, then we've got some other people. Paul Tudor Jones, one of the top traders of all time. David Swenson, who's managed the Yale endowment for years. So there are a lot of people like this that we pay attention to.
One thing that they all have in common is that they will tell you the most important investment decision is asset allocation. In other words, your philosophy of investing. You might know that we covered the most important financial decision here a few weeks ago, and that is what amount are we gonna pay ourselves first before we get to the spending and paying down debt and things like that? What are we doing to pay ourselves first and have money go out automatically into investments and the things that are going aside for our future? So the most important investment decision is asset allocation or your philosophy of investing.
And simply, it comes down to one thing, and that's what percentage are we going to be allocating towards the security bucket and what percentage of our money is gonna go into that risk or growth bucket. Now, again, this is kind of assuming that we've taken care of bucket number one, the protection bucket. If you haven't taken care of that stuff, in other words, your insurance, your cash reserves, your debt, it's not even time to talk about investing. I would go address that stuff first to make sure you've got a very firm foundation. Think of it like a pyramid that the foundation of a pyramid is where all the stability is, and that protection bucket is going to be very, very important in making sure that if something bad happens, that's more or less why we're addressing that bucket.
Something bad happens and you know it will eventually, something unexpected, that's where that protection bucket is going to come in really, really handy. So philosophy of investing buckets number two and three, security versus risk or growth. How much should be in each bucket? I could tell you that it's a lot more art than science. Although, there's some science involved when it comes to financial planning.
People like me, our job is to ask you some good questions and help you figure out what's important to you, where you are today, where you wanna be in the future, and and then doing the math to figure out what needs to happen to make that a reality. But the other part of it is that the art part is that investing, as much as we might like to think that it's not, investing is very emotional. And the percentage that we have in those two buckets will more or less determine the vast majority of what our outcome will be is what percentage we're putting into each. So a couple of things. So let's define what sorts of things we would find in those buckets.
In other words, you might be saying, Josh, security bucket. What do you mean by that? What I mean by that and each person has to address this individually. This is very individual as far as what they consider security type assets. Some people, though, might consider security assets things like bonds, things like maybe fixed annuities, insurance…
uh, maybe the equity in your home, things like that that would be considered pretty stable, things that aren't gonna bounce around a whole lot. At least, it might give you the financial confidence that, hey. I've got this bucket. This is the one that I'm really relying on for my stability. Bucket number two then, for a lot of people, the risk or growth bucket again, will be things like stocks, real estate, precious metals, commodities, cryptocurrency, things that would have more risk associated with them.
Now they also have the characteristic that they could grow. They have the potential of growth, of course, and we can't guarantee anything. Um, as investment advisers, we never can guarantee outcomes, um, so that should go without saying. But the risk and growth bucket is one that you would tend to have assets that you think are gonna be riskier because you are after some growth. Most people don't take risk just to take risk.
They want some kind of outcome, and that is growth. So when we're trying to figure out what these two buckets or what types of assets would fit into these two buckets, it's important to make those decisions individually. There's a lot of different varieties, of course, of all of these things. For example, some stocks tend to be very stable, and they don't tend to bounce around a whole lot. Other stocks tend to be very volatile and very risky and have higher growth potential.
Of course, that would be why people would invest in them anyway. But they also can go down a whole lot or they can go to zero, of course. That's a possibility. So there also could be things like bonds that could be quite risky. People might think, well, bonds, isn't that supposed to be safe?
In some cases, yes. But there are risks associated with every type of investment. And so it's important that each one of us take a look at the different asset classes that we're invested in within those buckets and figure out really what percentage is gonna be in both and then what is made up of that bucket. So let's talk through a couple of of different things. For example, uh
, diversification is gonna be very important. Diversification within all of those things is gonna be critical because if you put all your eggs in one basket, and we've all heard this a million times. Right? But if you put all your eggs in one basket, then there really is a huge amount of risk. I would even call that speculative.
So when I talk about stocks, real estate, anything like that, I'm talking about diversified investments, something that is gonna be spread out in lots and lots of different stocks, for example. Lots and lots of different types of real estate if you own real estate. So putting all your eggs in one basket, lots of risk associated with that. Again, it's art more than science. Um, the other thing to think about is if there's three factors that influence the asset allocation, three criteria, in other words, that you should be thinking about.
And this will help kinda guide you as far as what percentage do I want in each. And, of course, a good certified financial planner can help you with that. They can help ask you good questions, help you figure out what really makes sense for you. But the three criteria are number one, when do you need the money? In other words, what stage of life are you in now and what stage of life do you expect to be in the future when you're actually using the money?
Now I can tell you that a lot of people when I say that, they immediately think the age. They think, well, how old am I? Is it old people versus young people? I can tell you that although there is something to be said for age, I like to kind of minimize that aspect because I've got clients that are quite old. You know, I think by most people's standards, they'd say, yeah.
They're, you know, they're they're up there. And they may be very comfortable with risk. They may be very comfortable with growth type assets in their portfolio mainly because they might have a different philosophy. They might say that they're very comfortable with stocks, for example, because they've invested in them for a long time. They might even think that the money is not even for them.
For example, they might think that, hey. This is for kids or grandkids. I know that some people kind of have that thought that the money probably isn't going to even be used by them so they might consider that their asset allocation should be geared more towards growth assets. We might also have very young clients that consider themselves to be in a more precarious position because they're just starting out. Maybe they have a lot of debt from student loans.
Maybe their income isn't very high yet. Maybe they're just not very experienced in investing, so they might want a lot more in their security bucket. So the trade off, of course, is that when it comes to financial planning, there is some math involved. And the more that you allocate towards security, towards having certainty, in other words, or feeling certain that your investments are gonna be there and not be really volatile, what will you have to accept? More than likely, you'll have to accept a lower rate of return over time, meaning that in your financial planning, you'll have to make adjustments.
You'll have to make adjustments possibly as far as time frame when you're planning on retiring or how much you're willing to put away along the way. So there's always trade offs. Um
, if you're allocated more towards the the risk or growth bucket, then you'll have to just accept that there's a lot more volatility with those assets along the way. When we hit rough markets, when the economy stinks, um, and certainly that can happen at a moment's notice, the risk and growth bucket is gonna be the one that's gonna tend to bounce around the most. Alright. The second criteria for factors that influence your asset allocation is gonna be risk tolerance. And what I mean by that is how much turbulence are you willing to accept in your portfolio?
How much bouncing around, in other words, are you willing to tolerate before you're gonna cry uncle and say, I wanna offer this aircraft. So when you think about flying, it doesn't matter how good the pilot is, how experienced they might be. It doesn't matter how well they plan out the route. It doesn't matter how expensive the aircraft is, whether it's Air Force One or the maybe the the cheapest, oldest aircraft. They're still all gonna get impacted by turbulence.
Yeah. There's things that they can do. Right? They they can try to go around thunderstorms and so forth and change altitude, but at the end of the day, if there's turbulence, there's turbulence, and that is part of the experience of flying. Some of you might remember John Madden.
From years ago, John Madden was the Monday night football guy, and the one thing that he was really, really uncomfortable with was flying. He just hated it. He hated flying. He was scared of it. Um
, it it was irrational, and he knew that, right, because you're actually more likely I think most of the stats that I've seen are that you're more likely to pass away in a vehicle accident than you are in an air accident. Nonetheless, he knew himself. He knew he wasn't comfortable with it. He was perfectly willing to shell out more money. I'm sure it was more expensive to have an RV, and it took a lot longer to get where he was gonna go.
But at the end of the day, he didn't care. And so this is where it comes down to emotions. We need to do a gut check. As far as financial advisors, our job is to help you with whatever technology and tools and questions and things like that. Our job is to help you figure out what that asset allocation should look like for you because it's gonna be critically important.
And not only are you gonna reach your goals or do you have a high likelihood of reaching your goals, but also what is the ride gonna look like along the way. If you're losing sleep at night because of how your portfolio is invested, that's a good sign that you have too much in the risk and growth bucket and not enough in that security bucket or possibly protection bucket if you haven't set aside the cash and have insurance and so forth. Those two buckets are really important, those first two, because that's what gives a lot of people financial confidence to be able to invest in buckets number three and four, the ones that maybe are are gonna be riskier, the ones that could have, uh
, you know, more volatility associated with them. So it's really, really important to spend the time upfront well before we get to the point where we're on the aircraft, um, you know, and and before we've made those decisions, we need to make sure that we are comfortable and we know what does it look like, what does that actually feel like when there's turbulence, and are we okay with that? Number three then, the final criteria as far as your asset allocation is access to cash flow. What I mean by this is looking at all the different income sources that you have and looking at how that might get interrupted. For example, it could make a big difference if somebody has a social security check and a pension and they've got two rental properties that are paid off.
Maybe what they consider a very, very reliable, safe income stream that has nothing to do with their investment portfolio. For that person, they might look at it and say, you know what? Most of my expenses are covered. Maybe their debts all paid off. Right?
Maybe they have no debt. They've got these different income sources. They might feel emboldened to take a little bit more risk and have more in the growth bucket inside their investment portfolio. So, uh
, consequently, you know, this is a great year to look at it in two thousand and twenty because a lot of business owners…have been severely impacted by COVID, by the coronavirus epidemic that we've got going on right now. So many business owners have a higher degree of risk by nature because their business could be impacted by all kinds of things. So business owners might actually look at this and say, you know what? I've got a lot of risk in my business. I've got all my growth stuff already in my business, so I'm actually gonna load up more on my security bucket.
I'm gonna load up more on that because I want something that's not gonna be as affected maybe when the economy takes a hit. I want something that I would be able to tap into. Maybe it's very liquid. It's something that doesn't experience a lot of volatility. For them, it actually could be worth it, uh, to even though their normal risk tolerance as a business owner probably is quite high, it might be that that's actually counterbalancing risk that they have in the other areas of their own financial situation.
So it's very important to think about that. It's important to think about liquidity. Again, look at how much do we have in cash, how much do we have available, maybe even in things like home equity lines of credit or business lines of credit. In other words, kind of looking at all the different places we could go get cash. The one thing that happens when a business or an individual runs out of cash is that they go broke.
That is what we call bankruptcy, and it happens with very large corporations and we've seen that again this year in two thousand and twenty, companies that looked like they were very, very stable. Within weeks, they were in big economic trouble. The same thing happened back in the the great recession, the financial crisis. A lot of car companies, things like that, insurance companies went from looking like they were very solvent and very good businesses to being in big trouble in a very, very short amount of time. So it's very important to kinda look at the entire picture, the entire situation before picking out your own asset allocation.
Again, this is art and science. So…
think about that. Think about your own investment philosophy. Remember that asset allocation is just a fancy term for your own philosophy of investing. That's gonna be very individual to you. I do not like cookie cutter approaches.
Uh, I like looking at each person's situation, their own family dynamics, their income, their emotions, the things that are important to them. That's one thing that we do at Keystone Financial Services is that we pride ourselves in knowing our clients really, really well and understanding where they're coming from and helping them come up with a plan that works for them. Again, asset allocation is a part of that. We'll talk about lots of other fun topics like this in the future. So as we wrap things up, I just wanted to say thank you so much for your support.
We just got to a hundred fifty downloads. I think we just surpassed that this week on the podcast. So, thank you very much for being part of this. If you would, help us out by subscribing. Pick your favorite podcast service like Apple Podcasts or Spotify and subscribe to us.
      With that, have a great week, and God bless…
The opinions voiced in the Wiser Financial Advisor Show with host Josh Nelson are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine what may be appropriate for you, consult with your attorney, accountant, financial, or tax adviser prior to investing. Investment advisory services offered through Keystone Financial Services, an SCC registered investment adviser…