Let's Talk Money w/ Steven Bouchey | WGY

Let's Talk Money

·48 min·4 clips

Why a 15% market drop is normal and how to prepare your portfolio for it.

John Millay, a certified public accountant and wealth advisor at Boucher Financial Group, hosts the episode, starting with personal anecdotes about the Olympics and winter weather. He provides a market update, noting that all major indices ended the week slightly up despite volatility, with the NASDAQ snapping a five-week losing streak. The Supreme Court struck down former President Trump's tariffs, leading to a new 10% global tariff threat increased to 15% over the weekend. Millay discusses Q4 GDP growth at 1.4%, below expectations, attributing it to government shutdown impacts, while consumer spending remained healthy. He highlights the 'great rotation' in markets, with sectors like industrials and power companies benefiting from AI infrastructure buildouts, not just tech firms. A key segment focuses on planning for market volatility, explaining that average yearly drawdowns are 14-15% and advising listeners to assess cash needs for the next 12-24 months, using examples like setting aside funds for a wedding in a cash management strategy like Schwab's SWVXX. Millay takes calls from listeners, including Paul from Boston Spa, who asks about tax implications of rolling a Thrift Savings Plan into an IRA, and Joe from Colony, who inquires about a Goldman Sachs BDC dividend investment. Another caller, David from Virginia, suggests returning funds from an IRA to the TSP. Millay then discusses financial planning topics, arguing that renting can be a better decision than buying a home for first-time buyers or retirees, due to high home prices and flexibility. He also critiques social media advice on Social Security, explaining the trade-offs between claiming at 62, full retirement age (67), or delaying to 70 for increased benefits, stressing the need for personalized analysis. The episode concludes with a reminder to visit Boucher.com for more resources.

As heard by us

A market plan matters only when cash and accounts are ready before the drawdown.

Markets, tariffs, and the practical side of staying invested give Let's Talk Money its useful frame. John Millay, described as a certified public accountant and as chief operating officer, chief financial officer, and wealth advisor at Boucher Financial Group, moves from renewed…

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Why you'd press play

You want a calm plan for tariff-driven market nerves, cash you may need soon, and what to do before a drawdown becomes a buying opportunity.

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