Peter Tuchman

It's something we do regularly. And there's so much that goes into it. The market can't be too volatile to do it. It can't have There has to be a lot of people trading. There has to be what we call liquidity in the business. Buyers and sellers are really active. So we just automatically do it when all of the conditions are met. But usually if something's negative, we're just going to do it.

It's something we do regularly. And there's so much that goes into it. The market can't be too volatile to do it. It can't have There has to be a lot of people trading. There has to be what we call liquidity in the business. Buyers and sellers are really active. So we just automatically do it when all of the conditions are met. But usually if something's negative, we're just going to do it.

I mean, you make a great point about the young investors. I mean, if you really believe like, okay, the market's at this level and when I'm retired, it's going to be much higher. The path from here to there, you want it to be as negative as possible and make it all up at the end, the sequence of the returns. really impacts how much money you will have.

I mean, you make a great point about the young investors. I mean, if you really believe like, okay, the market's at this level and when I'm retired, it's going to be much higher. The path from here to there, you want it to be as negative as possible and make it all up at the end, the sequence of the returns. really impacts how much money you will have.

But for the person approaching retirement, a lot of times they go, well, Peter, I need the money. I'm gonna need the money in a year or two. And the answer is sort of really when most people retire, they're still going to live 20 to 40 more years. They still need a very, very long-term portfolio. You know, in 1950, if you retired, the average person died that day.

But for the person approaching retirement, a lot of times they go, well, Peter, I need the money. I'm gonna need the money in a year or two. And the answer is sort of really when most people retire, they're still going to live 20 to 40 more years. They still need a very, very long-term portfolio. You know, in 1950, if you retired, the average person died that day.

The life expectancy, average person retired in their 60s and the average person died in their 60s. Well, that's not the case anymore. People still retire in their 60s on average, but they live into their 80s on average. So we get this portfolio to go on a long, long, long time. still has to be heavily weighted towards stocks and things like that.

The life expectancy, average person retired in their 60s and the average person died in their 60s. Well, that's not the case anymore. People still retire in their 60s on average, but they live into their 80s on average. So we get this portfolio to go on a long, long, long time. still has to be heavily weighted towards stocks and things like that.

But what that person should start doing as they approach retirement is have enough bonds that between their remaining years of work and a couple more years on top of that, they're not at the mercy of the market. So for example, if someone's going to retire in one year, they'd have maybe four years of bonds. So you've got one year of work plus four years of bonds, that's five years.

But what that person should start doing as they approach retirement is have enough bonds that between their remaining years of work and a couple more years on top of that, they're not at the mercy of the market. So for example, if someone's going to retire in one year, they'd have maybe four years of bonds. So you've got one year of work plus four years of bonds, that's five years.

The stock market can do whatever it's going to do because you're covered in the short run.

The stock market can do whatever it's going to do because you're covered in the short run.

That's right. That's exactly right.

That's right. That's exactly right.

I mean, I think the big the big things an advisor can do is they can it depends what your asset classes you're in. So there can be a lot of opportunities and private investments which have now become available to more and more people that really can present themselves in bear markets, things like private equity, private lending, private real estate.

I mean, I think the big the big things an advisor can do is they can it depends what your asset classes you're in. So there can be a lot of opportunities and private investments which have now become available to more and more people that really can present themselves in bear markets, things like private equity, private lending, private real estate.

And in an all stock portfolio, people should be looking for opportunities to buy high quality parts of the portfolio while they're weaker. So for example, today, the Magnificent Seven's in a severe bear market, the seven biggest tech stocks in the United States, Nvidia, Google, and so on.

And in an all stock portfolio, people should be looking for opportunities to buy high quality parts of the portfolio while they're weaker. So for example, today, the Magnificent Seven's in a severe bear market, the seven biggest tech stocks in the United States, Nvidia, Google, and so on.

I mean, if you really believed in those companies a month ago or two months ago, you should really be excited about them now. And helping people lean into those, opportunistically rebalancing, switching asset classes in a down market, And then as you mentioned earlier, Nicole, taking advantage of tax situations. I think all of those are kind of just the beginning.

I mean, if you really believed in those companies a month ago or two months ago, you should really be excited about them now. And helping people lean into those, opportunistically rebalancing, switching asset classes in a down market, And then as you mentioned earlier, Nicole, taking advantage of tax situations. I think all of those are kind of just the beginning.