9/11/25 From Sticky Prices to Stress-Free Portfolios: Insights Ahead of the KC SHRM Conference

The Moneywise Radio Show and Podcast Thursday, September 11th BE MONEYWISE. Moneywise Wealth Management I "The Moneywise Guys" podcast call: 661-847-1000 text in anytime: 661-396-1000 website: www. MoneywiseGuys.com facebook: Moneywise_Wealth_Management LinkedIn: Moneywise_Wealth_Management Guests: Sky Newton, Conference Vice Chair & Jackie Andrade, SHRM-SCP Conference Director website: https://kcshrm.com/ email: [email protected] instagram facebook

• 0:00Speaker 00

  From the Garo Ellis padded radio room off Stockdale Highway, here is Money Wise. Call or text into the show 24/7 at 396-1000.

• 0:39Speaker 00

  Here is Money Wise.

• 0:40Speaker 01

  Money, money, money, money.

• 0:45Speaker 01

  That's right. Welcome to the Money Wise. Okay, yeah. It's business time. It's getting down to business Thursday.

• 0:54Speaker 02

  I know, right?

• 0:54Speaker 01

  I'm your host today, Chris Pelster, with...

• 0:57Speaker 02

  Justin Leland. How you doing?

• 0:58Speaker 01

  Good, good, Justin. We haven't done the show in a minute, so it's good to be back on with you. And we got a good show today. We got some good guests coming in. We have Sky Newton and Jackie Andrade, Andred, Andrade?

• 1:10Speaker 02

  Andrade.

• 1:11Speaker 01

  Andrade coming in, talking about the SHRM conference. And if you don't know what the SHRM conference is, you just stick around and find out.

• 1:18Speaker 02

  That's right.

• 1:19Speaker 01

  We're just gonna, we're just gonna tease it out and keep you guys around at the edge of your seats, wondering what this SHRM thing is.

• 1:27Speaker 02

  Let that little spoon lay out there and just kinda like, you know.

• 1:30Speaker 01

  I know people are just, can't wait now. Want to find out about this SHRM thing, so... But before we do that, we're gonna kinda go into the market numbers just a little bit and kinda talk about what is going on. Big day on the market.

• 1:43Speaker 02

  Big day on the market. And honestly, it's a weird kind of a situation because here we are, we have the Dow, the NASDAQ, the S&P, all hitting record highs again.

• 1:57Speaker 02

  And the bond market is showing signs of weakness. So we got this kind of weird dichotomy of, you know, record, record highs on the market because we have the Federal Reserve. Basically, at this point, it's, it's pretty much penciled in that they're gonna, they're gonna lower rates next week. It's, it's, it's a done deal. You hear, you've heard it here first. It's, it's a done deal.

• 2:20Speaker 01

  Yeah, a little bit of news came out with some sticky inflation, they're calling it, that might, might pull back maybe a number that they had in mind.

• 2:29Speaker 02

  Yeah, they were thinking that, there were some, there were some folks on, on the street that were thinking that it might be a, a half a point drop.

• 2:37Speaker 01

  It's a big number. It's a big number, Justin.

• 2:40Speaker 02

  It's a big number, but that was, anybody that was in, in the know, or anybody that was really paying attention, it was, it was gonna be a quarter point.

• 2:47Speaker 01

  Yeah.

• 2:48Speaker 02

  So anybody that's like, oh, they're gonna drop it by a half a point. Eh, it, that's, that's a major, major move. And the numbers just weren't, they weren't supporting that. And so this, uh, this number that came out today, uh, we have some inflation numbers, and the CPI number came out right in line, right in line with what we expected. Uh, 3.1% on the, the CPI, which is the Consumer Price Index. Now, that is the number that you and I pay attention to because we're the consumer. Uh, and everybody out there, you know, like we've always said, is that 70% of the US economy is, you know, John Q. Taxpayer going out and buying stuff, right?

• 3:32Speaker 01

  Yep.

• 3:33Speaker 02

  Um, but what the Fed pays attention to, and what the Federal Reserve really pays attention to, is the PPI number, which is the Producer Price Index. Now, we're waiting to get that number, and I believe that's next week is when we're supposed to get the PPI number. Now, last month, that number came in at a, a pretty hot number at 3.4. Um, and that is usually a, a leading indicator of where CPI will eventually head. So, last month CPI was at 2.7. It went up. It's at 3.1 now.

• 4:06Speaker 02

  CPI or PPI last month was at 3.4. Where is it going to be this month with tariffs and everything else? Your guess is as good as mine. I think the consensus is it's going to be in the 3.5 to 3.7 range. So we'll see, but you know, the stock market looks at this and says, yep, we're getting that 25 basis point drop in the interest rates. Yay. Go to a new record high. And the bond market saying, huh? We're gonna, yeah, we're, we're, we might be heading for the R word. Let's, let's batten down the hatches.

• 4:44Speaker 01

  Right.

• 4:45Speaker 02

  Right. So you're getting both.

• 4:46Speaker 01

  That's what we say sometimes. It's already baked into it. Yeah. And that's exactly what we're talking, what we talk about when we say that, you know, good news is bad news. Meaning we might actually finally get that. Everybody's talking about this or, oh, it'll be so nice when the rate comes down, this and that. And then it happens and lo and behold, the stock market actually pulls back.

• 5:05Speaker 02

  Yes.

• 5:05Speaker 01

  And you go, wait, I thought we were waiting for this. Well, yes. And, and here's the thing I want to put in perspective. And when we talk about that the market might pull back, when we say it's baked in, let's back up just a couple of months, folks.

• 5:17Speaker 02

  Yeah.

• 5:18Speaker 01

  The S and P 500 closed at under 5,000, 4,0982 in April.

• 5:24Speaker 02

  Oh, man.

• 5:25Speaker 01

  Today we're at 6,587.

• 5:29Speaker 02

  And most, and I just.

• 5:30Speaker 01

  Three months, four months, five months later.

• 5:32Speaker 02

  Yes. So let's, let's also take this in perspective. At the beginning of the year and Steven, we could probably go back and look at this back in, in December, January.

• 5:45Speaker 02

  But Goldman Sachs, Merrill Lynch, B of all, all of the banks, everybody, they always put out their number of what they think the S and P is going to end the year at.

• 5:55Speaker 01

  Yeah.

• 5:56Speaker 02

  Right? I don't think any of those major players expected the S and P to be near 6,500 at the end of the year. They were all betting on it being around 62, 6,300.

• 6:12Speaker 01

  Which, yeah.

• 6:13Speaker 02

  At the end of the year, we're not even there yet.

• 6:16Speaker 01

  Which that's what I tell people. I mean, don't be surprised if we have some, some pressure in the markets.

• 6:20Speaker 02

  A little bit of a pullback.

• 6:22Speaker 01

  Yeah, we see a little bit of a pullback, even after we quote unquote, get what everybody's wanting to see, which is that rate drop. Um, so because some of that's baked in, the reason why the markets continue to trend upwards. It saw that big drop when we first saw the, uh, the infamous, uh, tariff board. It got brought out, uh, and the markets.

• 6:42Speaker 02

  Liberation Day.

• 6:43Speaker 01

  Yeah, the markets pulled back at the end of the second quarter, um, and we hit, uh, the lows on the year. Remember we opened up the year at around, um, right at about 5,900.

• 6:54Speaker 02

  Yeah, it was about 59.

• 6:55Speaker 01

  And then it pulled back, like I said, about a thousand points down in that first, into that first quarter, going into the second quarter. And then from that point, we're up 1,400 points since then. So, you know, you just got to remember some of that perspective. Just understand that if the market pulls back a little bit, it's some of that's already baked into it. That's why the market's kind of been trending upward. So when we actually quote unquote, get what some people are wanting to see. Don't be surprised that if the, the good news on the market right now is going to end up being bad news for the market in the next couple of weeks.

• 7:27Speaker 02

  But then I also want to put in there, you know, we always talk about these things in terms of short term. You know, when we're talking about it, you know, markets like this, if we're talking about it in long term, we always have to remember. Stocks in the short term are risky. Stocks in the long term are safe.

• 7:42Speaker 01

  Yep.

• 7:42Speaker 02

  The longer you hold them, the safer you're going to be.

• 7:46Speaker 01

  Yeah.

• 7:46Speaker 02

  Right? So if we're looking at it in three month or, you know, quarterly or, or semi annual or annual snippets. Yeah, you're going to see major volatility.

• 7:54Speaker 01

  Right.

• 7:54Speaker 02

  But if you're holding it in, in five year chunks or 10 year chunks. That all of that volatility goes away.

• 8:01Speaker 01

  Yeah. And some of the bond issues that you talked about, if they do lower bond rates, it is going to affect conservative investors, or if you have an allocated portfolio with bond exposure, typically, an actively managed bond portfolio or bond management, you're gonna, you're gonna go through this. Some people remember in 2022, when the feds had to

• 8:21Speaker 02

  Raise interest rates.

• 8:23Speaker 01

  Right. It actually really impacted both the stock side was, was had its thing going on. And then the bonds were also impacted because of how aggressive that those measures had to be because of the inflation numbers

• 8:34Speaker 02

  Right.

• 8:35Speaker 01

  that we were seeing in 2022. So hopefully, remember, their, their efforts are to smooth things out, you know, to make the lows not so bad and the highs not so crazy and smooth things out is, is kind of the efforts of the Fed. So hopefully, that's what they're doing. That's why you, you mentioned, you know, like, most people in the know are thinking a quarter basis points, because they don't want to wait too long, and they don't want to get too far ahead of themselves. But they also don't want to get behind

• 9:00Speaker 02

  Yes.

• 9:00Speaker 01

  on, on trying to make moves. They want to try to move it at a, at a pace where they're not having a, you know, too positive or too negative an impact. They're just trying to smooth out the bumps and bruises of some of these moves. And, and you know what? To an extent, they've done that. If you think back to the history of the markets, if you really look back at the history of economic cycles and stuff, there, there really truly has been a smoothing out of the highs and lows. We haven't necessarily seen a crash of 1929.

• 9:29Speaker 02

  Well, by definition, I mean, the, the Federal Reserve has done a fantastic job, you know, within reason. I mean, there's, there's been crashes here and there, but nothing as bad as what it was in 1929.

• 9:41Speaker 01

  Right.

• 9:42Speaker 02

  And the Federal Reserve didn't come around until the 1930s.

• 9:44Speaker 01

  Right.

• 9:45Speaker 02

  Right. So

• 9:45Speaker 01

  So that was the whole effort of it. So before we go to break and bring in our wonderful guests to talk, SHRM, still got you guys at the edge of your seats. Yeah, we had, I guess you guys maybe talked about G money, Gero yesterday. It says, very cool to hear Gero is doing better. We pray for him and his family every weekend. Love Stan. Thank you, Stan. Appreciate it. He was able to come. And for those that don't know, our, our offices are going through a big transition right now. We've been in this studio since 2013 that we're talking in right now. We've been, it's kinda getting surreal, the fact that we're down to our last couple of weeks in this specific studio. So, had a little lunch as an office yesterday. Gero was able to come by

• 10:26Speaker 01

  and do some pictures and spend some time in the studio that he spent many hours in.

• 10:32Speaker 02

  Lot of memories in this room.

• 10:34Speaker 01

  Yep, educating listeners, hopefully entertaining listeners, and helped do some wonderful things in our community. So, we're thinking of you, Gero. Thanks, Stan, for thinking of him. You guys must have also been talking about freeways, because somebody else says, "Wish we could clean up the freeway. It's really bad."

• 10:49Speaker 00

  So Sammy was talking about the construction in town and kinda hit a nerve, where people were just telling us about California Avenue, coffee, Ming, the freeways.

• 11:00Speaker 02

  Oh yeah, okay. Gosh, I hear ya.

• 11:03Speaker 01

  So was there, I mean, like, just cleaning up, like, all the construction and how messy it is? Or actually?

• 11:08Speaker 00

  All of it, pretty much. Yeah, he was talking about how you have to really add 20 minutes to any location, and he was just wondering why it's all happening at one time, instead of just spread out.

• 11:20Speaker 02

  Oh, it's the start of school year. That's why they did it.

• 11:21Speaker 00

  And it opened up a whole conversation.

• 11:24Speaker 01

  This is where drones just need to get a little more powerful. I'm gonna strap one to each of my feet.

• 11:29Speaker 02

  Yeah, there you go.

• 11:30Speaker 01

  And we're just, I'm just gonna be able to steer myself to the office every day. What do you think?

• 11:35Speaker 02

  I think we should go ahead and not do that.

• 11:37Speaker 01

  Land on top of the, have you seen the little, the little thing that, that, that they're doing now? It is a, it's like a little drone.

• 11:44Speaker 02

  They're doing like a personal drone. It's, you know, good for up to like 250 pounds or whatever.

• 11:49Speaker 01

  The only thing that absolutely trips me out, is I'm like, there's eight little helicopter blades, and you like walk between them to get in there. Now, I guess you get in it before you turn them on, but I'm like, you know that as a company, if you're trying to sell this to the public... How many people are going to get their leg chopped off before your company goes out of business? But anyways, yeah, I guess some guy that's like all high up in some tech company, he got, uh, it was like $250,000. It's just like little drone thing. It's a personal pilot, personal thing. So, I mean, we're not far off from the flying cars, you know? If you've been a listener of MoneyWise for a long time, Mr. Garrett Ellis talked about

• 12:32Speaker 01

  Neiman Marcus and we always talk about, uh, the flying car every Christmas and the catalog that Neiman Marcus used to put out. So, um, we actually are getting very close, I think, to personal, uh, what would be called flying cars. It's more of-

• 12:46Speaker 02

  I think I saw one in SkyMall on the airplane once.

• 12:48Speaker 01

  Yeah?

• 12:49Speaker 02

  Yeah, no, just kidding.

• 12:49Speaker 01

  Did you put in the order?

• 12:50Speaker 02

  Yeah, I'll get it in 2028.

• 12:52Speaker 01

  Yeah, I, I, you know, as excited as I am, I think the thing that's always going to hold me back is the old weight limit. They're gonna be like-

• 12:59Speaker 02

  Yeah, you, uh, Chris-

• 13:00Speaker 01

  Yeah, they're gonna be like, "Yeah, your weight limit, yeah, that's not coming out till 2045, okay? So, be patient."

• 13:06Speaker 02

  Be patient.

• 13:07Speaker 01

  Yeah, we're gonna have to really, uh, improve battery capacity and-

• 13:12Speaker 02

  I told Sherrod, I said, "If that is a real thing, that he's gonna have to put a little helicopter pad on top of the Woolworths, because I am definitely taking part in that."

• 13:19Speaker 01

  Yeah.

• 13:20Speaker 02

  I am definitely flying from my-

• 13:21Speaker 01

  I mean, that's what I was thinking. That little one that that guy flies in would totally be able to land on top of the-

• 13:25Speaker 02

  I'd be home in five minutes.

• 13:26Speaker 01

  That'd be awesome.

• 13:27Speaker 02

  Those do about 65 miles an hour.

• 13:29Speaker 00

  People can barely drive. I don't, I don't think I want to get in too much traffic with that.

• 13:33Speaker 01

  Well, the crazy thing is, though, is that they, they're very much, like, if you know, like, about drones, like, they have, like, where it hits a button, like, if it gets out of control-

• 13:41Speaker 02

  It's self autopilot, yeah.

• 13:43Speaker 01

  It'll autopilot back to where it took off from and land.

• 13:45Speaker 02

  Yeah.

• 13:45Speaker 01

  Um, I even, you know, I, I'm into aviation. I know you like aviation, too. I was looking, I think Honda has a, a plane right now, because per- personal pilots, the big thing is, is people have heart attacks and crash and different things and, you know, it's unfortunate, you know? I don't care, you know, "Oh, he loved, he died doing what he loved." Well, he still died, you know, and unfortunately, he could land on something, so. But Honda has one now where it, like, literally, like, you're hooked up to it and it knows if you have a heart attack, and they have that technology-

• 14:14Speaker 02

  They do already, and Cirrus has the same thing.

• 14:16Speaker 01

  Yeah, it will find the nearest airport-

• 14:18Speaker 02

  Yep.

• 14:18Speaker 01

  And it will land itself, it'll, it'll communicate with the tower.

• 14:21Speaker 02

  Yep.

• 14:22Speaker 01

  So we're, we're close to like these like basically autopilot type scenarios.

• 14:28Speaker 02

  Cirrus has that, they have the parachute. Uh, if you lose control, you can actually self correct the plane where it levels out. You hit the parachute, it lands. It, it, yeah, the whole thing.

• 14:39Speaker 00

  You guys just hit and something. So Charlie Sheen.

• 14:42Speaker 02

  Yeah.

• 14:42Speaker 00

  Has a documentary that just came out last night. I grew up, you know, big, uh, you know, major league fan.

• 14:49Speaker 02

  Oh, yeah.

• 14:49Speaker 00

  And wild thing.

• 14:50Speaker 02

  Ninety-nine, number ninety-nine.

• 14:52Speaker 00

  I only watched about thirty minutes of it with dinner last night, but he was talking about, uh, how big of a, you know, a star he was in the eighties and early nineties. And he actually got to fly a plane and they had an autopilot. And he was thinking, oh my gosh, and they turned off the autopilot and let him fly the plane with four hundred people on the plane.

• 15:14Speaker 02

  Oh, no.

• 15:14Speaker 00

  And he said he started to turn just kind of to see how it felt and immediately the, the pilot was like, nope. He put it right back in autopilot.

• 15:22Speaker 01

  Yeah.

• 15:24Speaker 01

  Yeah, I'm sure, I'm sure he was totally.

• 15:26Speaker 02

  Totally sorry we're doing it.

• 15:28Speaker 00

  He said he was toasted, but it was just the fact that.

• 15:31Speaker 01

  Yeah. Good job, pilot. That's for sure.

• 15:33Speaker 00

  You could be the most famous person in the world, but you never have that feeling until you've actually flew a plane.

• 15:38Speaker 01

  Yeah.

• 15:38Speaker 02

  Yeah.

• 15:39Speaker 01

  Yeah. Yeah. It's going to be interesting to see what, what happens with aviation because, you know, aviation hasn't changed a whole lot. Like that's why all planes are still like from the sixties.

• 15:49Speaker 02

  Yeah.

• 15:49Speaker 01

  Because it was so expensive and so like to, to update, but now that you have the technology that like they can land themselves and the GPS. It might actually be able to catapult into some more. Cause like you said, people can barely drive. Well, if you have technology that like literally will take over, if somebody passes out or if somebody's out of control, it'll actually correct itself. I mean, even remote control planes now.

• 16:15Speaker 02

  Yeah.

• 16:15Speaker 01

  Like trainers.

• 16:16Speaker 02

  Self-correct, yeah.

• 16:17Speaker 01

  Like they have self-correct and stuff like that. So it'd be neat to see what happens. And so who knows, maybe i- if they have the weight capacity, maybe me and G will be going in a, a, you know, quadcopter one of these days or something. So hey, stick around. When you come back, you're going to find out all about SHRM. Stick around.

• 16:34Speaker 00

  Have you been putting off your finances? Seize the day. Call the Money Wise office at 661-847-1000, or email [email protected] for more information.

• 16:53Speaker 01

  Welcome back to the Money Wise Show. I didn't even mention it earlier. We are in the Gero Ellis padded radio room off Stockdale Highway. So yeah, Chris Pels for your host today, joined with Justin Leland. And we do have our guest today. I've kept you at the edge of your seats all show. We're going to be talking about SHRM and we guys are all asking, what is SHRM? What is going on? What, what, what is this? So our guest today, Skye, how are you doing?

• 17:23Speaker 03

  I'm great. Hello.

• 17:24Speaker 01

  Awesome. And Jackie, how are you?

• 17:26Speaker 04

  Hi, great. Thank you.

• 17:27Speaker 01

  Yeah, we, we, we did the, the introductions and I messed that all up beforehand, but now I'm clear. I'm all clear. HR at Valley Strong is Skye.

• 17:35Speaker 03

  Correct.

• 17:36Speaker 01

  New spot with AC Electric, Jackie?

• 17:39Speaker 04

  Correct.

• 17:40Speaker 01

  Awesome. And you guys are co-vice chairs? Is that how it works? Or what are we doing?

• 17:45Speaker 04

  So we do conference director and vice chair. Yeah, it's a two-year board position.

• 17:51Speaker 01

  Yeah, you guys take this serious. I love it. Must be why it's such a great conference.

• 17:55Speaker 04

  Yeah, absolutely. And the team is phenomenal. Lot of years of experience.

• 18:00Speaker 01

  Okay. So why don't you talk about SHRM and what it is? Cause I've been talking about it all show and I've been, you know, some people are like, what is SHRM? So why don't you educate our listeners on what SHRM is and, and go into that for our listeners?

• 18:13Speaker 03

  I would love to. Well, Casey SHRM is a nonprofit organization. So we're professional HR chapter. We're associated with a national SHRM organization and really we strive to bring education, resources, and networking opportunities to local HR professionals, business leaders, and really help them navigate our ever-changing workforce.

• 18:35Speaker 01

  Yeah, because there's a lot of rules.

• 18:38Speaker 03

  A ton, and especially in California.

• 18:40Speaker 01

  Yeah, yeah.

• 18:41Speaker 02

  The good old Department of Labor.

• 18:43Speaker 01

  Yeah, awesome.

• 18:44Speaker 04

  Well, something new every time you turn around.

• 18:46Speaker 01

  Yeah, and so, so do you guys have regular educational workshops and different things? And then you're?

• 18:52Speaker 04

  Yeah, we do. So we have our monthly Lunch and Learns. We have occasional webinars that are special if you are a member. So please, I mean, there are member specific benefits. Our biggest event is our annual conference. But for example, in November, we're doing a certification boot camp. So people that want to get their SHRM CP or, you know, they can start prepping and study for that with us. We also are affiliated with the CSUB chapter. So we partner with students. We have a mentorship program. So we, we, we do a lot in our community.

• 19:30Speaker 01

  Good deal. And so it's coming up on October 1st. It's Wednesday, October 1st, starts at 7:30 bright and early. And you guys are going to be downtown at the Dignity Health Arena. So if people are wanting to get signed up, what's the best way people can get involved there?

• 19:45Speaker 03

  Okay, well, we are really excited. So this is a full day conference at Dignity Health. You can go to kayscherm.com/conference, learn all about it. But what is really exciting right now, today is the last day. We are offering a flash sale. Get your tickets. It is $200. Again, today is the last day, so don't hesitate and go to kayscherm.com.

• 20:12Speaker 04

  Yes, and use code KCSHRM, so K-C-S-H-R-M flash. So you'll want to put that in when you check out because member, member and non-member prices are higher than that. And then late registration starts on the 16th, so today is an excellent day.

• 20:32Speaker 01

  Yeah, and one of the things when we were talking about this before we came on, out of my ignorance, I'm like, oh, so this is just for HR professionals. And then after just talking to you guys for a split second, it like makes total sense that it's like, when you're a business owner, you're a small business, you're having to wear all the hats. And that can be overwhelming. And so sometimes, a lot of times, certain areas of your business get overlooked, or you may not even know you're doing things wrong because you don't know what you don't know until you know it, you know? So this is a way for business professionals or small business owners, different business leaders in the community to get out there to really educate themselves, because it's always changing. Can you talk about that a little bit?

• 21:12Speaker 04

  Sure. So this is our 28th annual conference, and it has developed over the years. And you know, the thing with HR is not a one man band, right? You need ambassadors at every level. We're the ones that leaders look to for people leadership, but every manager is responsible. So this particular conference, the theme is, I mean, our sessions are heavily focused on leadership, also AI and tech, because leaders, all leaders, whether HR, executive, small business owners, you're all going to be tasked with developing your people. This is the AI revolution. However, there are things that only people can do.

• 21:54Speaker 04

  And in order to keep up with change, we need to be forward thinking. So that's why our theme this year is people centered, future ready. And you'll continue to see with our conferences that, you know, we have a broader audience. And that's just because HR, yeah.

• 22:12Speaker 02

  Now, do you have, obviously, I'm looking at the website and you have quite a few like really good speakers. Can you talk a little bit about some of the breakout sessions?

• 22:22Speaker 04

  Absolutely.

• 22:24Speaker 02

  Because I know. Personally, I've spoken at a couple of these events. It's been, it's been a lot of fun to do that. But looking at the lineup, there's, there's some pretty good.

• 22:36Speaker 04

  Yeah.

• 22:36Speaker 02

  You know, there's some pretty good topics.

• 22:38Speaker 04

  Yeah. So we have tracks to plan your day. Again, people centered leadership. That's a prominent focus. AI and the digital edge.

• 22:46Speaker 02

  How to use chat GPT to do all of your HR.

• 22:49Speaker 04

  How to use chat GPT, but also what are the legal ramifications? What are the considerations? Because leaders are going to be tasked with, you know, policy, compliance, ethics. One of our sessions, Dr. Webb and Justin Hebert, they've got human and AI. So how do you, you know, make the most out of, you know, both of those? And, um, you know, we've got heavy leadership in terms of like Shannon Foster, building trust.

• 23:17Speaker 04

  We do have a handful of amazing attorneys. It's a long, long list because, um, you know, we've got, you know, folks from KDG. We've got, um, so another new one, relatively new, we've got, um, what was it? The ICE and immigration. So we've got a session on that because that's a hot topic. Our panel discussion is going to be combined of executives and HR business leaders. And what I wanted to do with that is have people from different size organizations and small business development. Because whenever you see a panel discussion, what organizational talent development looks like for, you know, 500, 1,000 people.

• 24:01Speaker 04

  You know, that size company is going to be a lot different for small business and 25. Yeah. So we want to hear, um, solutions and what to look for, like strategic support moving forward, but from a variety of voices.

• 24:14Speaker 01

  So you said you're part of a, a national. SHRM, right, is a national organization. Is, do, does the national, like, if you go to a national convention, do they go, man, does California have a little bit more kind of requirements and headache than other states? Would be my perception, where they're like, we feel bad, we feel bad for you guys.

• 24:37Speaker 02

  Michigan's like way worse.

• 24:38Speaker 01

  You have to have, like, you have to have thirty more classes on different topics than maybe some other states. I mean, is that, is that, is there some truth to that?

• 24:46Speaker 04

  Yeah, that's why, I mean, I think there are a lot of California-specific conferences. National SHRM tends to rotate between West Coast, East Coast. It's actually an international organization. So at SHRM this year, I met someone from Africa that had come in, that I happened to ride-share with that day. And, I mean, really, it's international, but, yeah, in California, they're, they're pretty heavy on special, like, California.

• 25:10Speaker 03

  Yeah, California likes to be in the headlines. So you really have to be on top of your game. The best way to do that is by going to these conferences. And we have one of the best in California. So if you ever thought about showing up, this is the year. So we are always trying to one-up it from, from last year, and I think we're doing that.

• 25:27Speaker 01

  Good deal. Well, great. Thank you again. Again, that's Wednesday, October 1st, 2025. It's coming up here in just two weeks. So get signed up, and there's even some special pricing if you move fast. So get out there and get educated. Some of the information's gonna be there on the, Steven will take care of it and get it out there, so.

• 25:47Speaker 02

  On the show notes.

• 25:48Speaker 01

  Yeah. Anything else you want to let the listeners know before we go to break?

• 25:52Speaker 02

  Take a break?

• 25:53Speaker 03

  There's an amazing VIP package with tons of custom perks and benefits, so check it out on the website, too.

• 25:59Speaker 01

  There you go. Thank you very much. Again, Sky Newton, the conference vice chair, and Jackie Andrade, again, the.

• 26:07Speaker 04

  Conference director.

• 26:08Speaker 01

  Conference director. Thank you guys so much for what you're doing. And get signed up and get out there and learn.

• 26:14Speaker 02

  Sounds good.

• 26:15Speaker 00

  Money Wise Wealth Management is the only locally-owned, independent firm that uses a comprehensive wealth, tax, and estate approach, working closely with a highly trusted CPA and attorney. For information on how Money Wise can help you invest and plan for your future, call 661-847-1000. That's 661-847-1000.

• 26:43Speaker 01

  Welcome back. This is the Money Wise Show. I think this is being played because this is Ludacris, who turned 48 today. Don't ask me how I knew. I mean, come on. I know. I guess because he's 48. Maybe that's how I know.

• 27:01Speaker 02

  Any chance of playing some Ludacris?

• 27:02Speaker 01

  Yeah, there you go. Forty-eight years old.

• 27:06Speaker 02

  That doesn't make you feel old.

• 27:07Speaker 01

  I think that was also the music video where he had like on oversized shoes and hands.

• 27:13Speaker 02

  And that big goofy dog.

• 27:17Speaker 02

  With the big old teeth.

• 27:18Speaker 01

  Such a funny, funny video, man. There you go. But thanks again. Yeah, so SHRM is HR. We have an HR conference that's, it's nationally known, worldwide.

• 27:30Speaker 02

  Yeah.

• 27:31Speaker 01

  Dealing with all the California HR issues. If you are a small business owner or business leader, I mean, you've got so many hats, you're trying to take care of so many things. Knock out a bunch of learning in one day. Take advantage of the conference coming up.

• 27:46Speaker 02

  And network with other folks.

• 27:47Speaker 01

  Yeah, yeah. Rub elbows with other leaders and learn. Somebody did message in, say, "Nice. Thanks, Money Wise guys. Those are my girls." Smiley face. So, thanks for joining the show. You can too. 661-396-1000. We had another comment come in. Back to our drone conversation. It says, "Have you guys seen the drone on the news that is delivering Chipotle?"

• 28:15Speaker 02

  Yeah, I was thinking about that with the burritos that I order from Chipotle. That thing would not make it airborne.

• 28:20Speaker 01

  And the thing would be like, you'd see it like dipping down in the air, like trying to stay up and the, you know, the wind would be pushing it around, holding Justin's big old burrito.

• 28:28Speaker 02

  Dude, that double, double rice, double beans, double meat burrito. There's no way that thing's getting airborne.

• 28:34Speaker 00

  The side of guac.

• 28:35Speaker 01

  Yeah, I just can't wait. Somebody's gonna walk into work one morning with just guacamole and cheese and beans all over their head, and they're gonna be like, "You're not gonna believe what just happened to me today."

• 28:46Speaker 02

  These dang drones. This be like another WKRP kind of a moment.

• 28:50Speaker 01

  Just dropped on my head. So yeah.

• 28:53Speaker 02

  As God is my witness, I thought they could fly.

• 28:55Speaker 01

  Yeah, I mean, I've watched the videos too. I guess Walmart and Amazon, they both have like they're piloting these little things where, you know, you order certain things and this little drone comes in and drops this little thing in your backyard. It's pretty ridiculous that the, the packaging that these things have to be in because they're dropping, stuff from like, you know, 80 feet up in the air.

• 29:15Speaker 02

  Yeah.

• 29:15Speaker 01

  And it can only be certain items that you can have dropped. Um, so I'm sure it'll probably, come to pass. I mean, I'm still pretty amazed that literally, uh, you know, we talked about it a few weeks ago when we were sitting here talking about how crazy it is that, uh, all these convenience stores are closing down because who would have ever thought, something could be more convenient than a store.

• 29:39Speaker 02

  That's called.

• 29:39Speaker 01

  Down your street called a convenience store, but yet you can literally order everything in that convenience store and it's at your, doorstep the next day.

• 29:47Speaker 02

  Oh, not even the next day, like within hours.

• 29:50Speaker 01

  We'll have it there by eight o'clock. Yes.

• 29:52Speaker 02

  Yeah, like, uh, so,

• 29:55Speaker 02

  this is, uh, my son's birthday was not too long ago. And grandparents came up and they had gotten him like a remote controlled car. And they had forgotten the batteries. And oh my God, you can't forget the batteries. Grandparents.

• 30:12Speaker 01

  Come on.

• 30:13Speaker 02

  So grandpa's trying to get this remote control car out of the box that is like Fort Knox, basically, right? And there's no batteries. And so I go on a DoorDash, and I order the batteries. We didn't have enough batteries in the house to do those different size batteries. So I order them for DoorDash. They're at my house in 20 minutes.

• 30:32Speaker 01

  Yeah. It's crazy.

• 30:34Speaker 02

  Right? I didn't have to, I didn't have to leave the house.

• 30:36Speaker 01

  Yeah.

• 30:37Speaker 02

  Didn't have to go anywhere.

• 30:38Speaker 01

  But so with DoorDash, they're still having to go to a convenience store to get it, right?

• 30:42Speaker 02

  Yeah, he had to like the, the guy had to go into the Albertsons or wherever he had to go to go get, the batteries.

• 30:48Speaker 01

  Yep. Yeah, but even even Amazon now like like two day shipping used to be like wow it's here in two days then it was one day shipping now even Amazon because we have we have the the warehouse here there's many items that they have like same day shipping yeah there's I mean certain household items they just have so many of them probably out front that it's like same day shipping it's not even DoorDash but it's at your house by eight o'clock same day if you

• 31:15Speaker 02

  I had ordered something at like eight o'clock at night it was at my doorstep by six o'clock the next morning

• 31:22Speaker 01

  Yeah, it's pretty pretty crazy so yeah who knows how far that will go uh you know some will call it lazy but it is pretty dang amazing because you know back in the day

• 31:30Speaker 02

  You ever see the movie Wally? That's where we're headed.

• 31:33Speaker 01

  That's right. That's right. So there you go drone delivering Chipotle burritos um you know hopefully uh hopefully they'll have good battery life and they can bring some Mondo burritos to us yeah we'll just have them drop them on the top of the Woolworth Building uh after we eat 70 hamburgers first

• 31:53Speaker 02

  Right. Did you see that uh did you see that uh one of the was Steven was it one of the five number five numbers on the Lotto?

• 32:02Speaker 00

  Five of the six?

• 32:03Speaker 02

  Five of the six it was like not the bonus number?

• 32:06Speaker 00

  Yeah, it was the one in uh is that the Albertson's one or the Hatchbee one?

• 32:09Speaker 02

  The the the Albertson's right?

• 32:11Speaker 00

  Yes.

• 32:12Speaker 02

  The Northwest it's up uh Allen and Rosedale uh

• 32:15Speaker 00

  I mean two of them hit big here locally

• 32:18Speaker 02

  Locally one in the Hatchbee and then another one at the Albertson's off of Rosedale and and Allen uh Northwest it's a million dollar ticket.

• 32:27Speaker 02

  So if you need a financial advisor

• 32:29Speaker 01

  That's the Albertson's I shop at

• 32:31Speaker 02

  That's the one I shop at yeah

• 32:32Speaker 01

  I didn't buy a I didn't buy a ticket from there else I would have got excited

• 32:35Speaker 02

  If anybody needs a financial advisor you know give us a call.

• 32:38Speaker 01

  Yeah, crazy crazy crazy

• 32:40Speaker 02

  What's that uh is did they nobody's hit the 1.8 billion dollar jackpot now right it's

• 32:45Speaker 00

  I think somebody did

• 32:46Speaker 02

  Oh, somebody did hit the 1.8? Okay, I was wondering if it

• 32:48Speaker 00

  It was out of state though.

• 32:50Speaker 02

  Yeah. Well, if they need a financial advisor.

• 32:52Speaker 01

  Yeah. Yep. There you go.

• 32:55Speaker 02

  Give us a call.

• 32:55Speaker 01

  661-847-1000.

• 32:58Speaker 01

  So we did have a comment come in that was, where'd it go here? Said, "Do you think the $8 a gallon was more of a scare tactic for them to look like the good guys? Or do you think, now that they are laying off, not to get political, but trying to be realistic?" So, you know, not completely sure about the question, but one of the things that I wanted to say, so I don't know if it was a scare tactic, or kind of what they were doing, or whatever, but it goes back to, there's a couple of reasons why originally they were saying $8 a gallon. And there are economics at play here.

• 33:41Speaker 02

  Right.

• 33:41Speaker 01

  Okay? So, oil prices have been soft.

• 33:45Speaker 02

  Right.

• 33:45Speaker 01

  They were assuming that at the levels, when they were saying $8 per gallon, they were kind of assuming that, you know...

• 33:56Speaker 02

  Oil would stay at like $80 a barrel, or whatever. It's 62 right now.

• 34:00Speaker 01

  Right. It's come down. Oil prices have been soft. Demand has been lower, so gasoline demand has been easing both nationally and in California, partly because of seasonal, summer travel has been slower than anticipated. There's been efficiencies. EV adoption has obviously made some gas consumption lower.

• 34:23Speaker 02

  And even with us shutting, yeah, even with us shutting down those two refineries in California, right? We shut down two refineries.

• 34:30Speaker 01

  Yeah, because, and one of the things that they said is California's had decent gasoline stockpiles, so inventories were healthy. So even if there were outages, or even because they did shut down one of the refineries, some of the inventories and stockpiles were able to weather that shutdown. Now, what they were saying is if demand would have kept rising, and that shutdown would have happened, then yes, gas prices probably would have gone up to $8 per gallon. So I don't know if it was political, but you have to always go back to the fact that, yes, we live in a political world, there's some things that are politics. But it goes back to economic factors and and some of these economic factors.

• 35:12Speaker 01

  Had there been some of the the demand still rising and some of these different things, we might be at eight dollars per gallon, but. Fortunately, unfortunately, however you want to say it, market hiccuped at the end of the second quarter tariffs went in place. Summer travel was a little lower than normal. EV adoption has made a little bit of a uh an impact on especially California.

• 35:34Speaker 02

  Overall Brent crude has been a lower price than.

• 35:36Speaker 01

  Yeah, it's been trading between sixty five to sixty eight dollars a gallon almost all year.

• 35:41Speaker 02

  It's been at sixty two right now.

• 35:42Speaker 01

  Oh, yeah, it's pulled back.

• 35:43Speaker 02

  Yeah, it's down to sixty two thirty or something like that.

• 35:46Speaker 01

  Yep.

• 35:46Speaker 02

  Brent crude. So, yeah, I mean, when you see all of those factors in in play. Then you're gonna see gas in California in the four dollar range.

• 35:57Speaker 01

  Yep.

• 35:57Speaker 02

  I mean, that's just, that's the economics of it. Supply and demand. That's what it comes down to.

• 36:01Speaker 01

  Supply and demand.

• 36:02Speaker 02

  It's economics one oh one.

• 36:04Speaker 01

  Yep. And so we had another uh we had another question come in along the same lines. It just said. How is oil doing? And so we've kind of talked about that just a little bit.

• 36:13Speaker 02

  Yeah.

• 36:13Speaker 01

  Um, right now, you said it's around sixty two dollars. Uh, I think at the beginning of the year, it was up a little bit higher. Um, but they've been relatively uh uh prices have been relatively soft and drifting downward all year long.

• 36:26Speaker 02

  Right.

• 36:27Speaker 01

  Um, supply increases, OPEC has been raising production, non-OPEC countries like US, Canada, and Brazil. Guyana are still producing at near high levels. That's creating upward pressure on supply. Um, demand is weak um in some areas. Advanced economies are showing more resilience. Many emerging economies and elsewhere. Demand is growing slowly. Um, and there's also major economic concerns like interest rates, inflation. Um, they're moderate, they're moderating expectations, meaning. Um, you know, they're they're anticipating some of these things are going to continue to play into. How economies are going to move forward with higher interest rates and inflation concerns. Some of the sticky inflation that we talked about just a little bit ago in the show.

• 37:12Speaker 01

  Um, and then you have to remember too that there's inventory.

• 37:16Speaker 02

  Oh, yeah.

• 37:16Speaker 01

  Global crude oil stocks have been rising, which tends to dampen upside on prices. Uh, so, yeah, just some things to consider. Um. I think in August, the low that we've seen this year, or maybe this quarter so far was about $59.

• 37:33Speaker 00

  Yeah.

• 37:33Speaker 01

  On oil, but right now it's about 62. So.

• 37:36Speaker 00

  Yeah.

• 37:37Speaker 01

  So there you go. Who knows what we'll see between now and the end of the year, but that kind of gives you a little bit of an idea as far as oil prices and gas prices. The other comment that came in, you can join the show and ask any questions or send any comments. 661-396-1000. We're going to go ahead and take a break. So we'll have a nice, good segment to take us out of here. Stick around.

• 37:59Speaker 00

  Are you curious to learn more about how you can be money wise? Check out the money wise website at moneywiseguys.com to get more info about what we do.

• 38:23Speaker 01

  You want it?

• 38:25Speaker 02

  How much is he getting sued for?

• 38:28Speaker 00

  That's a good question.

• 38:30Speaker 01

  Like, I want to throw out a guess right now that'll make you guys. Do you know how much I know music?

• 38:35Speaker 02

  Probably.

• 38:36Speaker 00

  This one's a deep one.

• 38:37Speaker 02

  This is a deep cut.

• 38:38Speaker 01

  Okay. Is this Stone Temple Pilots?

• 38:40Speaker 02

  Nope.

• 38:41Speaker 01

  Is it R E M?

• 38:42Speaker 02

  Good same time period.

• 38:44Speaker 01

  R E M.

• 38:44Speaker 00

  You'll never get this.

• 38:45Speaker 02

  You'll never get it.

• 38:47Speaker 01

  I know that I've, I've heard it, you know, because I.

• 38:49Speaker 02

  Porno for pyros.

• 38:51Speaker 01

  Hmm.

• 38:52Speaker 00

  Right. You were, you were that close.

• 38:54Speaker 02

  You were that close.

• 38:55Speaker 01

  Yeah, that was, that was my next guess.

• 38:57Speaker 02

  No, but I'm wondering, uh, cause well, he's the singer for Jane's Addiction.

• 39:01Speaker 01

  Yes.

• 39:02Speaker 02

  Right.

• 39:03Speaker 01

  That's honestly Jane's Addiction. Okay.

• 39:05Speaker 02

  So Jane's Addiction. Perry, uh, how much you think he's going to get sued for by Dave Navarro for punching him out?

• 39:11Speaker 00

  Uh, $10 million.

• 39:13Speaker 02

  10 million?

• 39:13Speaker 00

  Yep.

• 39:15Speaker 02

  I don't think he's got it.

• 39:16Speaker 01

  On stage?

• 39:17Speaker 02

  Yeah, they, they had a big knockdown drag out on stage, uh, at the final, cause I went to that concert here in Bakersfield. And then the, the final concert of that, of that tour. Dave Navarro was playing and Perry didn't like something or whatever and he went up and like.

• 39:34Speaker 01

  Punched him.

• 39:35Speaker 02

  Punched him.

• 39:36Speaker 01

  Okay, twenties, it would have been punk rock and you just punch each other out.

• 39:40Speaker 02

  Yeah.

• 39:40Speaker 01

  Now, now we're getting our lawyers involved. Okay, guys.

• 39:43Speaker 02

  Yeah.

• 39:44Speaker 01

  So what happened to those roots?

• 39:46Speaker 00

  The, uh, the report says he is, uh, it's filed for the whole band. It's just not Dave Navarro.

• 39:51Speaker 02

  Not Dave Navarro.

• 39:52Speaker 00

  And they're claiming that the, uh, the money is due for the tour's cancellation.

• 39:57Speaker 02

  Right.

• 39:57Speaker 00

  Damage, assault, battery and a bunch of other things. I guess that was going on for the last, last month of that tour.

• 40:04Speaker 02

  Yeah, they were, they were not happy for the last long bit of that tour. It was a great tour. Don't get me wrong. It was, it was, they were good, but.

• 40:14Speaker 00

  But this guy, I mean, he walks around with the big, like Little John wine bottle.

• 40:17Speaker 02

  Oh, yeah. Yeah, yeah. Yeah, yeah.

• 40:20Speaker 00

  It's, it's a, I'm sure it's a long tour.

• 40:22Speaker 02

  It's a thing. Um, wow.

• 40:25Speaker 01

  Yeah, I remember they used to do like mosh pits and stuff. You used to punch each other for fun. I mean, what happened, guys?

• 40:29Speaker 00

  I saw a mosh pit.

• 40:30Speaker 01

  They probably had leather pants on and punch each other. Now they're suing each other.

• 40:34Speaker 00

  I saw one, uh, last week at a tour concert. Did you see that? He was, uh, it was Santa Claus.

• 40:39Speaker 02

  Oh, that's right.

• 40:41Speaker 00

  At a tour concert. And the singer just started busting up laughing mid-song.

• 40:45Speaker 02

  Oh, my goodness. I remember that. That's hilarious.

• 40:49Speaker 01

  All right, so.

• 40:50Speaker 02

  Hands off investing.

• 40:51Speaker 01

  Yeah, so let's talk about this a little bit. You know, sometimes I think, um, you know, it's interesting in, in years of working with clients and investments and their portfolios and different market behaviors and environments and different things, um, you know, markets happen. And then something happens in the market and they go, okay, what do we do? And you say, nothing.

• 41:15Speaker 02

  And they're like, well, why?

• 41:16Speaker 01

  Yeah, you're the advisor. You're, you're, we should be doing something. And it's like, no, like we, we have a strategy in place and like now we don't do anything, especially right now. And, and I, I want to reiterate, I, I know what it feels like. I'm an investor myself. When you look at your portfolio and you're concerned, I look at my portfolio and see the same things. Sometimes I think people think that. That advisors are doing different things than what they're doing for their clients and maybe some do. I will say that you might have an advisor that is doing something completely different in his own portfolio than he's doing in yours or she's doing in yours. Maybe, but uh, you know.

• 41:55Speaker 02

  Shouldn't be the case.

• 41:56Speaker 01

  Shouldn't be the case. And even here at Money Wise, I'm not saying that some advisors might not dabble a little bit in short-term day trading-ish type stuff, but we.

• 42:05Speaker 02

  But that's on their side.

• 42:06Speaker 01

  And it's, it's with a very small portion of your overall accounts and it's, it's the same thing.

• 42:11Speaker 02

  Their accounts, right, yeah.

• 42:12Speaker 01

  It's the same thing that we, yeah, not with their clients' money, it's with their own personal.

• 42:15Speaker 02

  Yes, exactly.

• 42:16Speaker 01

  Just want to clear that up, clear that up. Yeah, I want to be as clear as possible. I'm saying that the same advice we give our clients is the same things we institute in our own lives and, and, and our own investments and plans. So we're not doing something way different than what we're telling our own clients to do. So, um, this is a study that recently came out, you know, and it's a Morningstar study. Morningstar is a, you know, media conglomeration and research and different things that come out. And it was a study that again proves this reality, okay? It basically comes out and it says that most investors hurt themselves by trading too much.

• 42:54Speaker 02

  Bingo.

• 42:55Speaker 01

  The research found that while the average mutual fund and ETF returned around 8.2% annually over the past decade, actual investors earned about 7%.

• 43:08Speaker 02

  4% is pointless.

• 43:09Speaker 01

  One point, that 1.2% gap caused by buying high and selling low compounds into big losses roughly an 18% smaller nest egg over 30 years.

• 43:23Speaker 01

  The, the, the interesting thing is, is somebody might be listening to go, well, well, yeah, and my advisor, he's not been getting 7 or 8%. Well, did you go to your advisor and say, I'm fine with being super aggressive? And keep me super aggressive and, and let's go through this together and you're going to manage it, but I want to be aggressive. Because when you're talking about an ETF or average mutual fund that, that returned 8.2%, they're talking about a stock.

• 43:50Speaker 02

  Aggressive.

• 43:51Speaker 01

  Invested fund. And most clients, even if you're working with a professional, say what? They want to avoid.

• 43:59Speaker 02

  Risk.

• 43:59Speaker 01

  Risk and losses. So I will, I will reiterate, when you're working with an advisor, you want to say, I want to be invested. Like, like, I'm maybe nervous, or I want to avoid risk, but I also want to take on the appropriate amount of risk. What I always talk about in meetings, and maybe you do too, risk adjusted returns.

• 44:19Speaker 02

  Yes.

• 44:19Speaker 01

  So when somebody's account is doing.

• 44:21Speaker 02

  Efficient frontier.

• 44:22Speaker 01

  Yes, when, when people's account is doing X, and I say, your account's actually doing great, and they'll say, well, I just talked to a guy that's doing 14. I'll go, you're invested completely differently.

• 44:30Speaker 02

  Yeah.

• 44:31Speaker 01

  And your risk adjusted return is perfect for how you're invested, based on the amount of stock you have, the amount of cash you have, the amount that your account is going to go up and down.

• 44:41Speaker 02

  I like to have a saying about this, because this, this kind of the Morningstar, uh, the Morningstar thing that came out, it, it comes to a, a head, it really comes to a head where there's a saying on Wall Street, where your retirement savings is like a bar of soap. Right?

• 44:59Speaker 01

  Yeah.

• 45:00Speaker 02

  The more you touch it, the more it disappears.

• 45:02Speaker 01

  Smaller it gets. And the three reasons that this article talks about why people sabotage themselves is, one, because Wall Street constantly pushes trade, trade, trade. When you listen to the media, when you read articles, it seems like it's all about trading, and that's actually not what makes you successful over time. Number two, market swings do trigger fear and greed. And number three, politics and policy shifts constantly spook investors, and makes us think we need to constantly be doing things. You don't. Quit touching the soap.

• 45:32Speaker 02

  Exactly.

• 45:33Speaker 01

  Don't touch your investments. Hey, be smart, be safe, be money wise.

• 45:37Speaker 02

  Bingo.

• 45:40Speaker 05

  Securities offered through LPL Financial, member FINRA, SIPC. Investment advisory services offered through LPL Financial. LPL Financial and Money Wise Wealth Management are independently owned and operated.