If you’ve been impatiently waiting for another installment in Host Josh Bretl’s compelling tutorial about all things bonds, then this episode of The Retirement Equals Freedom Podcast is for you! In addition to recapping how today’s bond market differs from what we’ve seen over the past 40 years, Josh is explaining everything you need to know about alternative investments, the bases these investments should ideally cover (risk reduction and a decent rate of return) and some of the specific vehicles you might want to explore (Christmas wreaths are not among them). The guys also give a shout-out to educators who inspired and shaped them and the edgy senior project Co-Host Dave Schmidt produced while in art school – including a secret blooper reel featuring Josh that might somehow find its way into the public domain. So sit tight and enjoy this roller coaster of a bond ride. And, no, we’re not talking 007. (Sorry. Too tempting to resist.)

Are you ready to chat with Josh? You can schedule your complimentary 15-minute checkup call at this link.

Brew your own Cometeer Coffee at home with $25 off your first order: Just click here!

Click here to learn more about or listen to previous episodes of The Retirement Equals Freedom Podcast.

Don’t miss out on the show’s exciting weekly email, which you can subscribe to at this link. And if you feel like chatting, join the lively conversation at our private Facebook group, which you can find here.

So as interest rates rise, bond values

mathematically have to fall.

So we're losing some of this downside protection and we

also have ultra low interest rates still, so they're

not paying much interest.

And you could deal with not getting much interest

when we weren't worried about the values falling

out from underneath of us.

So we've been talking to clients for a couple years

about bond alternatives.

What other options do we have out there?

The day has finally come.

Today we talk all about bond alternatives.

Josh is here to explain everything you need to know

about alternative investments, the bases these investments

should ideally cover, i e risk reduction and a decent

rate of return, as well as some of the specific vehicles

you might wanna explore.

Just when you thought you couldn't learn anything else

about bonds, here we are, talking about bond alternatives.

This is The Retirement Equals Freedom Podcast.

Your host, Josh Bretl, is the owner of FSR Wealth Strategies.

For the last few decades, he's been helping fine folks like

you thrive in the retirement.

And me?

Well I'm Dave.

Josh's long time friend, co-host and fan of

older Tim Burton movies.

So now let me, let you, let me end this introduction

so we can start the enthralling conversation

about bond alternatives.

FSR Wealth Management is a registered investment advisor

located in Elmhurst, Illinois.

Information and opinions contained in this audio

have been arrived at by FSR Wealth advisors.

All information herein is for informational purposes

and should not be construed as investment advice.

It does not constitute an offer, a solicitation or recommendation

to purchase any security.

FSR is not providing legal, tax, accounting, or financial

planning advice in this audio.

These views are as of the date of this publication

and are subject to change.

Awe shucks, thanks.

Oh, darn it.

Did you read through the show notes, Dave?

Yeah.

None of it makes sense to me.

So I'm just going to...

Dave is truly flying by the seat of his pants today.

Yeah.

So Dave, I told you.

Are we-

Yeah, we're recording.

Go ahead.

Are we good?

Yeah.

You're just going to mess with your headphones?

Yep, that's what I love about these headphones.

So we are such epic podcasters that yesterday

I went and helped somebody else do their podcast.

Yeah, yeah.

And I texted you during, it was pretty cool.

It was Jeff Mauro of the Food Network.

Okay.

Now Missy and I are Food Network dorks.

Yep.

We love watching the Food Network.

I have watched way too many and if you give me a food

cooking competition, A Top Chef, a Iron Chef, even

Netflix during the beginning of the pandemic had something

where these world chefs were competing all over the place.

Oh yeah.

Yeah.

I will watch any food competition.

And a couple years ago, which is 10 to be precise, we were

watching the Next Food Network Star, which is on Food Network,

and Jeff Mauro was the winner and I thought he was so funny.

He's a local Chicago guy and he could cook, but he was truly,

authentically personable.

And I am involved here with the community bank in town

and the History Museum here in town and he was doing a

thing at the History Museum and they asked if I would

help because he was going to record his podcast live there.

And it was so fun to go watch and actually meet him.

He was a super nice, he was just as authentic and personal

and funny and in person as I had hoped he would be.

Well, that's awesome.

And I learned a few things that I want to

do and I don't want to do.

And you've been talking about a live podcast for a while.

Thank you.

I didn't want to interrupt you, but I'm hoping that you really

liked it and you're thinking, "Yeah, you know what, this Dave

guy, he may be onto something."

Well, if we do a live podcast, you're

going to need a new shirt.

Shoot.

Well, if, look, here's the thing, if we do a live

podcast in the fall, my wardrobe is far more expansive

than my summer wardrobe.

So I have an idea.

If I gave Carla a gift certificate and I just said,

"The only thing this can be used for is shirts for Dave,"

do you think she'd do it?

No.

I would take it and go to California Pizza Kitchen.

I mean, look, there's a chance you could sneak out of the

house without me knowing, but I think we're on something here.

I like it.

No.

Okay.

But you did say if any of one of our episodes hit 500 downloads

that we would do a live-

I did.

Episode.

We're not quite there yet.

No, we're not quite there.

We're getting closer.

My question would be, we would do at the beginning of a big

client event and those who were privy to be invited would

actually get to see us record?

Yeah, I think so.

That'd be kind of cool.

We invite all the podcast audience, so...

Wow.

It's been a lot of fun.

The last couple weeks we've had a few client events.

We've had even some new just regular events that we do.

The number of people that have brought up

the podcast is amazing.

And Erin actually had an appointment with somebody who

was brand new to our office, came into one of our seminars

and he heard the podcast.

And you and I have been self-conscious about this

part of the podcast where we talk back and forth to each

other and relive our glory days of high school basketball

and do all that fun stuff.

And so the people who know us, like our moms, they

really like this part.

But I do wonder, do other people enjoy it?

And so when I get a chance, people who don't know us, I

ask them or Erin will ask them or Sean will ask them and the

guy's response yesterday was kind of, "I like it, but I've

learned how to listen to it on one and a half time speed."

oh no!

So you and I probably sound like

a chipmunk to him.

We're talking really fast.

We don't have time to speak.

And since we sound like school girls,

it's probably like...

So I'm guessing this guy, this guy and Dave Milburn

are probably BFFs because they both feel the same.

Well Dave, just fast forwards through this,

so he's not hearing this at all, but I do think Dave would

come to a live recording.

Oh, absolutely.

We'd make him listen to this part.

Oh yeah.

Dave's a huge fan of ours.

Now what's really cool is today and today alone, we

had two separate people com into your office asking me to

brew them a Cometeer coffee.

That is pretty cool.

I thought that was really cool.

One's not a client, one is a client I think.

And I mean one of them thought that you and

I owned the company.

That's why we promoted it so much on the podcast.

Maybe one day we will.

Cometeer.

Cometeer.

This is not Cometeer.

We did have Cometeer earlier today.

This morning we did.

Yeah.

Yeah.

This goes out to our favorite local coffee shop.

Brewpoint coffee.

Yeah.

We were doing local restaurant little plugs here, but we do

like our Brewpoint coffee here.

Yeah.

Dave Schmidt:

Brewpoint is the best.

Dave Schmidt:

They have that the little, the works...

Dave Schmidt:

What do they call it?

Dave Schmidt:

They have a cool new, a-

Like a shared office space type thing.

I forget what they call it.

Yeah.

They have a cool-

Something catchy and hip, trendy.

I mean something we're not allowed to be in the

financial services world.

That's true.

I can go there cause I'm super cool.

But yeah.

And we don't let you touch people's money.

So that's better that way.

So I've started coaching Alex's soccer team this year and I did

it because Alex loves soccer.

He really enjoys playing.

And a couple years ago he had the world's greatest coach.

This guy was awesome.

Coach Adam here in Elmhurst.

He knows soccer, he plays soccer.

Actually I found out he also owns his own watch company.

Oh that's cool.

Farr and Swit Watches.

It's really, he's got cool watches, but I've seen

him around a few times.

F A R R and S W I T.

Swit or sweet.

I don't know what it is.

But anyways, coach Adam was awesome and he

got Alex so pumped up.

He taught him a ton.

And the following year he had a coach who was not very

good and actually kind of was depressing towards the kids.

And I said to myself, I can't complain because

I didn't volunteer.

If you don't volunteer to coach, you can't complain

about the volunteer coach.

So I decided I was going to volunteer and coach this year.

And as kids get older, they become tougher to coach.

Especially your own kid.

Now the kids are really enjoying it, I'm proud of

what I'm doing with him.

But it is a challenge.

It's been fun.

We're a few weeks in now and they're learning something.

That sounds fun.

Did you know Carla was the head basketball coach for

Landon's team last season?

Well, that would make sense.

Yeah.

She's a great basketball player and she

knows how to coach kids.

Exactly right.

Yeah.

And now she's been the assistant baseball coach for

every team since he started.

So okay, there's a competition brewing.

Coach Adam versus any CPA that works with taxes, who's Al

going to hang out with a soccer coach or guy who knows taxes?

He'd probably hang out with Coach Adam

and talk to him about taxes.

I mean that's how great Alex is.

Win-win.

And Adam looked at him like, "You crazy."

Do your kids ever read those

"Who Would Win" books?

Oh, all the time.

Yeah.

So who would win:

taxes or soccer?

So Dave, today's topic is one that I talk

about a lot with clients.

Coffee?

Nope.

Food?

Nope.

Taxes?

No, not even taxes today.

We talk about it so much that this is the third time

we're going to do kind of a major representation to it.

And it was actually, this is Erin's recommendation

because we've spent two podcasts in the past talking

about bonds and then talking about the 60-40 portfolio.

And I have a rule in the office that if you come to me with

a problem, you better also have a proposed solution.

And I feel like in those two episodes I told you

guys, "Hey, bonds are having problems right now."

And I never gave you a solution to it.

But they were intentional cliffhangers

for today's episode.

My life is one intentional cliffhanger.

Says the non movie buff guy.

I haven't seen a movie in four years.

Yeah, there's no cliff hangers in your

food competition shows.

If any of our friends were listening

to this, they're going to be like, "You watch TV?"

It's like, no, we don't watch what everyone else is watching.

I've never seen the Lord of the Rings.

I've never seen any of that stuff, but I know every cooking

competition known to man.

Love it.

I also know all local news personalities.

Okay, so you want to go there?

I gotcha.

I prefer not.

So let me recap here a little bit

as to what we talked about in the previous episode.

And we always, what the purpose of bonds are.

Bonds are a part of a lot of people's portfolios and bonds

one is for downside protection.

So as part of a portfolio, whatever positions you have

allocated to bonds hopefully are going to protect you

when the market goes down.

The second reason is that they're going to

pay you a decent interest rate, there's some minor

growth potential there.

And it's done that pretty much forever.

But the problem with bonds is that bonds operate

what they call an inverse relationship to interest rates.

So as interest rates fall, bond prices rise.

Now for the last 40 years, we've seen interest rates

pretty much start at 15, 16, 18% and fall down to near zero.

Well, we are now seeing interest rates start to rise back up.

And so the converse or the inverse of that is true.

So as interest rates rise, bond values

mathematically have to fall.

So we're losing some of this downside protection and we

also have ultra, ultra low interest rates still, so they're

not paying much interest.

And you could deal with not getting much interest

when we weren't worried about the values falling

out from underneath of us.

But now we kind of have this worst of the world.

So we've been talking to clients for a couple years

about bond alternatives.

What other options do we have out there?

Does that make sense?

Does that ring a bell?

Oh, how could I forget this stuff?

That glassy look in your eyes when you go,

"What is he talking about?"

No, that's just because I stayed up too

late last night celebrating the Buffalo Bills' first

victory this season.

You're still a Bills fan?

I grew up, I mean the only reason I knew Buffalo

existed as a city when I was a high schooler was

your love of the Bills.

So we've been talking about bond alternatives Maybe

there's some really proactive podcast listeners out there.

Maybe they Googled bond alternatives to see what this

kid was talking about over here.

And they're going to list all sorts of different things.

They're going to list REITs and preferred stocks, dividend

stocks, high yield savings, all sort of different things.

Did you say wreaths as in Christmas wreaths?

REITs as in real estate investment trust.

Oh.

So now I'm not recommending any of those, but-

No, sure because it's Halloween season.

You go Halloween wreath, not Christmas wreath.

True.

We're on the same page.

We are.

We're on the same page.

So before we look at this, I want to look at some

different options from the two things we're looking for.

If you remember, for a bond alternative, we're looking

for risk reduction, trying to protect on the downside

and to pay you a decent interest rate along the way.

So one of the first things that we've looked at is we

look at cash, I mean cash is a very real option.

Maybe for a portion it could work.

Now the problem with cash, cash will protect on the downside.

Great protection on the downside.

Right now it's paying you virtually zero interest.

So it could come back in a little bit, but it only

provides one of those two options as there.

So we do use it in some spots.

CDs can be also there.

Unfortunately right now, CD rates have really

dropped precipitously.

And Erin did a quick little Google search for us today and

the best rates she could find as of we're recording, this is

September 9th, 2022, the best CD rates out there for a one year

were like 2.7 and up to three and a half but you got to lock

it up for five years for that.

So even then when we're throwing inflation numbers in the

high single digits, that's a tough pill to swallow there.

Sure.

And you look at CD rates and I know we've talked about I Bonds,

you'd almost be like you'd put your money in an I bond instead.

Yeah, I bonds, the episode we did on I Bonds

is a great bond alternative.

You can't put that much into it if you're looking

at a bigger portfolio.

That's true.

That's true.

There's only so much you can put in.

We'll also look at what we call alternative investments,

what I call a bond alternative.

But an alternative investment is something that's nontraditional.

And the reason we do that is for a lack of correlation.

So a correlation is how tied to an index an investment is.

So think about the S&P 500.

It's a index of 500 largest US companies.

And a perfectly correlated investment, if the S&P goes up

10, the investment go up 10.

If S&P goes down 10, the investment would go down 10.

They would say that has a correlation of one.

Okay, It's a perfect correlation.

If the S&P goes up 10 and the investment goes up 20,

that's a two correlation, it's a double correlation.

So what we look for actually is close to a zero

correlation as we can get.

So the movement of the S&P or whatever index it

is not correlated to the movement of the asset price.

I see.

And so if you have a net worth north of a

million, $2 million, being able to allocate some money

to this can really help do those two things - reduce

risk and help provide a decent interest rate comparison there.

The problem with that is there is some market risk to those

and there's also some liquidity.

It's not an issue, but it's a risk that's there.

So that's why I wouldn't recommend those to

everyone under the sun.

For some people they can be a nice part of a bond alternative.

Wait, what was it called?

What was it?

What were you talking about?

The alternative investments.

Oh, okay.

Yeah, the non-correlated assets.

Okay, because I'm sitting here thinking I did

some research before our show.

Do you know what the correlation is of the Retirement

Equals Freedom podcast?

It's like four to one.

It's incredible.

Oh, that's incredible.

I have no idea what that means.

We're like way in the S&P two.

You're just pulling numbers out.

That's what I do.

I mean there's other financial advisors that pull

numbers out just like that too.

But some examples of alternative investments, they could be

REITs, R E I T, Halloween REITs.

There's some precious metals, private equity, hedge funds.

There's all sorts of different things that

could be utilized there.

Rewind precious metals like gold and silver?

Yeah.

Oh.

Yeah.

I didn't think that was still a thing.

They still exist and for some higher

net worth investors you'll see them in there.

But it's not common anymore.

Because I have a few gold teeth.

Would that count?

Oh yeah.

Your mother was very proud of that when you were a kid.

Totally.

When she knocked those teeth out of your

mouth, she said "David, were putting the gold ones in."

"David, did you eat the last

Markey Day sandwich?"

"This is what you get for eating

the last puddin' cake."

No, back then it was those poppy seed bagel dogs.

Oh my god.

Full size bagel dogs.

You used to leave the dirty plates

in my car for weeks.

Oh man.

I'm surprised my mom never made me go to paper plates.

She would get so mad because you would leave five glass

plates in your trunk at a time.

"David, we're running out of plates.

The family needs plates."

I'm also surprised that was like a convertible.

We put the top down a lot.

And you used to put it back where the top would go down.

No, I thought I threw it in the trunk usually.

Oh did you?

And then it would just stink.

The smell would aggregate and then it would just

knock your brother out when he would open it.

Oh,

REITs, man.

REITs man.

Now let's move on.

Another bond alternative.

This is becoming a little bit more popular.

Technologically, there's something called buffered ETFs.

And now buffered ETF, it's a way to give you a hedge

against market downturns.

Instead of incorporating bonds, your portfolio, you can utilize

some of these strategies.

It takes a little bit more knowledge to get into those,

but they've become more and more popular that's out there.

Another one that we've been using, we use quite

a bit in our office, are actually some different

annuities that are out there.

Now when I say "A" word to some people that are

like, "Yeah, that's great."

Some people are like, "No, annuities evil."

And again, they're not for everybody.

And I always tell people there's no investment that's

inherently good or bad.

But when I look at the purpose of why we do it, if

we are looking for downside protection and to pay you a

decent interest rate, as a bond alternative, there are certain

annuities that can be quite valuable in that situation.

And then we do see those in some people's portfolios.

But one of the nice more common will utilize in certain

situations are different annuities as a bond alternative.

So I do feel like in a few years we'll be able to put

them back into portfolios like we normally would.

It's been fun to look and utilize different alternatives.

It makes managing someone's assets not so cookie cutter.

I mean there's a lot of just cookie cutter portfolios, but

this makes it a little bit less cookie cutter as we go in there.

Why do some people have a bad

relationship with annuities?

There's been press out there.

There are some of them that have really high fees.

There's been some bad sales people out there.

We should probably do a whole annuities good,

bad, ugly podcast.

I like it.

And go into the details because our industry

has some shady people in it.

So you just want to be cognizant of why you're doing things

and the purpose behind them.

Yeah, makes sense.

Cool.

Dave?

Yeah.

I've talked a lot.

What do you think?

Oh yeah, that's what I'm thinking, Dave.

Hey, Mr.

Josh, let's take a break.

You've been talking for so long and my ear's are sore.

Let's not make them snore.

Listening shouldn't be a chore.

So let's get to know Josh and Dave and watch our ratings soar.

Oh yeah.

Dave Mauro, am I saying his last name correctly?

Mauro.

Mauro.

Mauro.

Eat your heart out.

You don't have a get to know Josh and Dave

segment on your podcast.

However, I am open to new podcast producing opportunities.

Email me at...

Just kidding.

He actually has a ton of sound effects and spends

time like singing them in his basement and stuff like that.

Does he really?

Yeah.

It's pretty cute.

You'd enjoy it.

Oh.

It was called, "Come On Over" was the

name of the podcast.

It was pretty cool.

"Come on Over" by Jeff Mauro.

I like it.

It was really cool.

I actually bought his cookbook, the "Come On Over"

cookbook because I like people coming over to our house.

Come on over.

We'll cook something.

I don't know what I'm going to cook yet, but

I'll cook something.

I love when you cook for me.

I know you do.

So yeah, the music just played that catchy beat

that's top 10 hits on Spotify.

Get to know Josh and Dave Song by Dave Schmidt.

What you got for us today, buddy?

So the question I have for you today, I told you

before, I picked the card and I went a little sentimental.

All right.

Did you have a favorite teacher or a teacher who made

a big impact on your life?

Oh, my relationships with teachers

was a bit rocky at times.

I only knew you in high school, I didn't

know you younger than that.

And I could tell you, you were probably not many high school

teachers favorite student.

Definitely not.

And it has to be hard.

I mean, you married a teacher.

Josh, you actually helped me with this idea.

So I will give you some credit.

But Coach Jim Prunty.

I know him well.

Absolutely.

You should know him well.

My senior year, your junior year was his first year coaching at

York and he was just awesome.

It was night and day from the previous coach who

I also liked, but very different coaching style.

And Prunty just kind of got us.

He was very mild mannered, even keeled.

And to be honest, he wrote the play "Snap Four" just for me.

So how could I not love the guy?

He seemed to understand you quite well.

I only remember one moment when

he got really, really mad at quote unquote his "bigs"

because we couldn't rebound.

He was referring of course to me and Mark and Mark was one of

the league's best rebounders.

So he was really referring to me.

And it was one game, we were just, I think by Central, we

were just getting outrebounded.

And he went in the locker room and he goes, he probably

cursed a few times and-

Oh, he didn't put me in the game.

So I mean, it wasn't that bad.

It wasn't that bad.

I know.

yeah, Coach Jim Prunty.

Josh, how about you?

Do you have a favorite memorable teacher?

I actually have lots of teachers who

I really, really like.

I'm going to go way.

Nerd.

I know, I know.

I'm going to go way back to, actually, my

kindergarten teacher.

Mrs.

Porter, Trilby Porter.

I had her, oh man, I don't know how many ever years ago.

I love school.

I thought it was fun.

And I think she was part of it.

But she was in Elmhurst as a kindergarten teacher forever.

My uncle who's 20 years my senior had her,

my sister had her.

She was great.

In fact, there's many, many children in Elmhurst

that will have a Mrs.

Porter story and it's pretty cool.

That's cool.

And you know what, I remember you telling me about her because

she made you feel okay that you weren't potty trained and that

you'd wet your pants every day.

She was very understanding.

Yeah, I knew it.

My sister teaches kindergarten right

now and that probably isn't that far of a joke.

I've heard from her stories.

There's kids in different stages.

Absolutely.

Yeah.

Different stages.

What are you going to do?

Yeah.

So Josh, I was sitting here, we were talking about get to know

Josh and Dave and I thought about Dave relates to retirees.

Yeah.

Do you think when you're older and you're

actually retired, you'll look back at this and go, "Man,

I didn't relate at all."

My goal is to relate less and less

to make your job harder.

Good.

I can't wait to see what's coming today.

I went to the Illinois Institute of Art.

You did.

We've talked about this a few times.

My senior project, we got to pretty much choose anything

that we wanted to do.

It's art school.

You really had to try to get a B.

It's really hard to not get A's.

So my idea was to come up with an entire marketing

plan for a made up movie called "The Empty".

You're holding back your laughter because

you remember it.

So originally the scope of my senior project was to

develop a website, a poster.

Back then it was an interactive CD Rom, which

was a lot of fun to make.

They're completely irrelevant now.

And I finished all that within the first two weeks

of the trimester or quarter.

And I thought, I think I'm going to actually make a film now.

So how this is relating to bonds is because I

chose an alternative path.

See what I did there?

I could have just been happy with what I made,

but I said, "No, I'm going to make the film."

So that was one of the few moments I've ever

overachieved in my life.

Instead of writing a script and hiring actors from a

local college, I relied on my good friend, Josh, Kevin,

Carla, and Jackie, to be the actors of this film.

The end result reflects this.

It is one of the worst things you will ever watch.

However, we did come away with a blooper reel, which I'm going

to post on our Facebook group.

No, no.

Oh, I am.

No, no.

Oh, I am.

Josh was the imaginary evil spirit slash bad guy.

And you're going to see Josh in action folks.

Oh, please, God.

You promised this was never coming out.

Well, I promised that if you weren't

going to run for office which I don't think you are.

So that's how I relate to retirees.

The retirees are sitting here like, "Man, I need a

good alternative to bonds."

And I'm like, "Yeah, I need an alternative to

just my senior project.

I'm going to make a film baby."

Remember I was heavily inspired by Tim Burton even

though this film has nothing to do with Tim Burton.

So Josh, I would like you to relate "The Empty"

to bond alternatives.

Dave.

Yeah?

I didn't laugh for a lot of it because I

kind of had an idea where you were going with all of it.

And I'm thinking to myself, good God, how am I going

to be able to relate this back to bond alternatives?

To me that's mission accomplished then.

And it's going to be difficult and I'm going

to change your story a bit.

Insert "Full House" music.

The reason retirees need an alternative to bonds

is because the bonds aren't living up to the purpose that

they are supposed to provide.

Now I'm going to assume that your senior project

of a website, CD rom, and poster was okay work.

It was great work.

But the purpose was it didn't

fulfill you internally.

Thank you.

And so you needed something else to

fulfill you internally.

And so you created this visual masterpiece-

Thank you.

That I am utterly embarrassed to be a part of.

So when I refer to bond alternatives, they're looking

for this option that can provide something for them,

the fulfillment, if you will, to their needs of protection

and a good interest rate where you were looking

for fulfillment to your educational, academic desires.

And my art skills.

Yes, you're very artsy.

But they're a little different.

But I do kind of see where you are going with that.

I appreciate it.

I appreciate you.

I've had the idea of sharing the story

of "The Empty" for a while.

I just kind of needed something, just even the slimmest of

things that I could relate to.

And you said, "He's going to talk about

bonds for a third time."

I mean, yeah.

So yeah, it was a perfect fit in my mind.

"We're going to embarrass the snot out of him

by talking about 'The Empty'."

I mean, who's more embarrassed, you or Jackie?

Lets be honest.

Or me for making it?

Definitely Jackie.

Without a doubt.

Yeah, I think so.

Yeah.

Poor Jackie.

But she can watch it and get a

good laugh out of it.

That is true.

Oh man, Josh.

So bond alternatives.

Yeah.

We talked about REITs, which I learned is not a

Halloween or Christmas wreath.

I learned about bond, what you call these things?

Alternative...

Investments.

Investments.

Non correlated assets is another way

to think about it.

You learned that the "Retirement Equals Freedom

"podcast is a four to one correlation in the S&P two.

True.

True.

Yep.

So what do we have planned here for future episodes, Josh?

I kind of want to whet people's appetite now because since we

are going biweekly, every other week, I kind of want to set the

stage for future episodes now.

Well, we talked about doing a annuities

good, bad, and ugly.

Yeah.

I also, we're approaching the end of the year

here and there's some really key things for end of the year

tax planning, end of the year investment planning that you can

do that are very time sensitive.

I'd like, Dave, I'd like to interview somebody too.

Before the year ends.

Before the year ends.

Sure.

Maybe that can be our final 2022 podcast.

We interview your mom.

Oh, you think Becks-

you think Becks would want to do it?

Oh, for sure she'd want to do it.

Yeah, I think it would be fun.

Let's just interview Becks.

Yeah, I mean, why not.

Dave, at the end of every podcast we've done, we've

asked our listeners to do something for us and we're

going to do something a little bit different this time.

What?

Did you run this by me first?

No, sorry.

But bond alternatives are actually important and looking

at your portfolio is important.

And if you look at your portfolio and you see, "Hey,

I've got 10% bonds, 20% bonds, 40% bonds, 80% bonds," whatever

it might be, it should be listed right there on your

first page of your statement, it's time for you to talk.

And if you talk to your advisor and ask them about it, great.

If you have questions, you want to talk to me about it.

Wonderful.

We'd love to talk to you and see if an alternative

might be a right fit for your situation or not.

Excellent.

And on the FSRwealth.com/podcast page, at the very bottom

there is an embedded calendar.

So you can actually book a free or complimentary

15 minute call with Josh.

Whoa.

Yeah.

Did you know that?

Did you know the calendar was on there?

Yeah, yeah.

No.

Oh yeah.

I'm going to add a second calendar if you want to

come in for a complimentary cup of Cometeer coffee

brewed by yours truly.

I won't put a calendar up there, but you can request when next

time you come in the office.

And with that Dave, thank you for sitting

down recording with me today.

Bond alternatives baby.

We got some exciting stuff coming up Josh.

Thank you.

And we'll end this show by saying bye.

I actually think that was a decent show.

That was fantastic.