Nicole Lappin

And how do you help clients decide when it's worth locking in a loss for a future tax gain? So, you know, at what point does Visa have to be in order to take advantage of tax loss harvesting? Or is that something you do regularly?

You alluded to a Buffettism that when you're young, you should want everything to go down and stay down until you need it later on in life. For clients nearing retirement during a recession, though, they don't have the luxury at that time. So what are the moves that you would have them make to protect their runway without sacrificing long-term growth?

You alluded to a Buffettism that when you're young, you should want everything to go down and stay down until you need it later on in life. For clients nearing retirement during a recession, though, they don't have the luxury at that time. So what are the moves that you would have them make to protect their runway without sacrificing long-term growth?

It's a really, really good point that I think gets missed in this conversation that you don't take your money out the day you retire. You need it. I mean, there's the 4% rule that you can take out a little bit, live off that and have the rest continue to grow.

It's a really, really good point that I think gets missed in this conversation that you don't take your money out the day you retire. You need it. I mean, there's the 4% rule that you can take out a little bit, live off that and have the rest continue to grow.

I mean, a lot of people think financial advisors are managing portfolios just by some set of benchmarks or rules. But in a downturn, what's some of the invisible work you're doing behind the scenes that clients who don't see?

I mean, a lot of people think financial advisors are managing portfolios just by some set of benchmarks or rules. But in a downturn, what's some of the invisible work you're doing behind the scenes that clients who don't see?

Yeah, I think somehow we change mid-game, mid-play. I'm not a good sports analogy person, but we're long-term investors and then something like this happens. We can't all of a sudden switch to be short-term investors, right? We have to decide, are you a short-term investor, in which case that's a different bag, or a long-term investor, in which case the blinders have to go on as painful as it is.

Yeah, I think somehow we change mid-game, mid-play. I'm not a good sports analogy person, but we're long-term investors and then something like this happens. We can't all of a sudden switch to be short-term investors, right? We have to decide, are you a short-term investor, in which case that's a different bag, or a long-term investor, in which case the blinders have to go on as painful as it is.

I really like the roller coaster analogy because I think there is a cost of admission to get to the carnival, to get into the investing world. You are able to get 7% to 10% returns over time. And so the ups and downs and the volatility is part of doing business as an investor. So I think that's important to remember. But people want to know how long those

I really like the roller coaster analogy because I think there is a cost of admission to get to the carnival, to get into the investing world. You are able to get 7% to 10% returns over time. And so the ups and downs and the volatility is part of doing business as an investor. So I think that's important to remember. But people want to know how long those

downs are going to be and how long the ups are going to be those are things we definitely don't know but from what you're seeing right now is this more of a temporary storm do you think this is you know more of a russia ukraine situation where we rebounded in a matter of months or is this more of a 2008 when it took a few years to bounce back well i think the worst case scenario is off the table so i think that the announcement that hey we're going to work things out with most countries

downs are going to be and how long the ups are going to be those are things we definitely don't know but from what you're seeing right now is this more of a temporary storm do you think this is you know more of a russia ukraine situation where we rebounded in a matter of months or is this more of a 2008 when it took a few years to bounce back well i think the worst case scenario is off the table so i think that the announcement that hey we're going to work things out with most countries

Now, we just talked to Steve Eisman, who, of course, if anyone saw the big short, hopefully everybody did. Steve Carell's character was based on and he was like, come on, this is not a 2008. We were looking death in its eye. That was that was Armageddon. This is not that this is this looks more of a like one of the garden variety corrections in the 100 percent.

Now, we just talked to Steve Eisman, who, of course, if anyone saw the big short, hopefully everybody did. Steve Carell's character was based on and he was like, come on, this is not a 2008. We were looking death in its eye. That was that was Armageddon. This is not that this is this looks more of a like one of the garden variety corrections in the 100 percent.

I don't want to bring back the PTSD of 2008. We both lived through it. I was covering it. You were managing money, dealing with margin calls, I'm sure. But that was when the big banks were going to go out. That was a whole different bag. Can we just remind our listeners of that?

I don't want to bring back the PTSD of 2008. We both lived through it. I was covering it. You were managing money, dealing with margin calls, I'm sure. But that was when the big banks were going to go out. That was a whole different bag. Can we just remind our listeners of that?

Yeah, I mean, we call them black swan events after economist Nassim Taleb, where they're basically events we can never predict. 9-11, COVID. This was actually something that President Trump talked about when he was campaigning. To your point, he said he was going to be much more targeted and precise, and then it got really aggressive, so people freaked out.

Yeah, I mean, we call them black swan events after economist Nassim Taleb, where they're basically events we can never predict. 9-11, COVID. This was actually something that President Trump talked about when he was campaigning. To your point, he said he was going to be much more targeted and precise, and then it got really aggressive, so people freaked out.

But do you remind clients that, you know, we already knew about this? This was told to us.