Broker Check

2023 So Far: Analyzing Common Concerns and Trends

In this episode, Royal Standley analyzes the topics that have stood out the most in the first part of the year and those that have also generated panic and uncertainty in the market.

Episode 78 Transcript

Intro: Royal Standley of Oregon Pacific Financial Advisors offering securities through United Planners Financial Services., member FINRA, SIPC, guides clients with empathy in discovering and reaching their financial goals and creates financial plans for clients so they can live their lives by design. In these episodes, he relates his financial insights and discusses timely topics. Royal strives for excellence and has a passion for sharing his knowledge and supporting his community. Now onto the show.  

Aric Johnson: Hey, Royal, how you been?  

Royal Standley: I'm good. How are you doing, Aric?  

Aric: I'm fantastic. I'm so excited to get into today's podcast, but you are in a highly regulated industry.  

Royal: Yes, I am.  

Aric: And because of that, sometimes we have a disclosure that needs to be read, so let's do it. 

Royal: All right. Here's the disclosure for today. Discussions in this show are for educational purposes only. Information presented should not be considered specific investment advice or a recommendation to take any particular course of action. Always consult with a financial professional regarding your personal situation before making any financial decisions. The views and opinions expressed are based on current economic and market conditions and are subject to change. All investing involves risk, including the potential for loss of principle. Securities offered through United Planners Financial Services, member FINRA, SIPC. Advisory service offered through Oregon Pacific Financial Advisors, Inc. Oregon Pacific Financial Advisors and United Planners are independent companies, and neither Oregon Pacific Financial Advisors nor United Planners offers tax or legal advice.  

Aric: Okay, now that we've taken our medicine, can we get on with the show?  

Royal: Let's go.  

Aric: Hello and welcome to Life by Design with Royal Standley of Oregon Pacific Financial Advisors. 

Royal, what's going on?  

Royal: Nothing much. I'm enjoying this beautiful spring weather that we're having. We, we've had such a back-and-forth spring here of, it'll be beautiful for one day and then, uh, snowing the next. 

Aric: Oh geez.  

Royal: Uh, or pouring down rain. So I think we've had two sunny days in a row. And, uh, it's, it's a nice change. 

Aric: Fantastic. All right, well, I mean that's, I'm looking forward to a little bit more warm, so that's good.  

Royal: Yes, it's nice to have it warm up, but I'm sure we'll be complaining about the, uh, a hundred-degree heat here within a month or so.  

Aric: Yeah,  

Royal: And it's like, uh, we're ready for fall now.  

Aric: And that, that's the older I get, the more it seems that's it. Like there's only three perfect days during the, the year and every other day. I'm just like, maybe it's cause I'm old. I don't know.  

Royal: Yeah. Yeah. You know, comparison is a thief of joy.  

Aric: [Laughter] 

Royal: I, I, the older I get, the more I believe that.  

Aric: That's a good point.  

Royal: We should just approach every day as like, just with new eyes. 

Aric: Okay.   

Royal: You know, there's a concept in meditation called Beginner's Mind, where you just approach everything as a beginner.  

Aric: Okay. 

Royal: And I feel like we, we, we could probably use a lot of that in our lives because 

Aric:  I've never heard of that. And I like that.  

Royal: Yeah. Yeah. It's, it's a great concept just from the standpoint of just entering things with, without a whole bunch of preconceptions, um, and a whole bunch of comparisons to how things were, how you want them to be. Just an acceptance of this is how things are at the moment, and that's a good thing.  

Aric: Yeah. Okay. Well, great podcast Royal.  

Royal: We're gonna wrap this. 

Aric: We're gonna wrap it up. No, I, I like that. I've never heard of that, so I'm, I'm, I'm really gonna, I'm serious about that. I'm gonna, I would write that down if I had a pencil, but I don't, so I'm gonna just keep it in my memory and I've got this podcast recorded. I can go back and listen to it again.  

Royal: That's right. That's right. And, and how, how do people get notified each time we have a new podcast come out?  

Aric: Well, they're, if they subscribe to the podcast, Royal, then it sends alerts to whatever device they listen to it on, depending on what, if they're using Spotify, if they're using, uh, iTunes, uh, podcasts, Google Play. I mean, there's all sorts of different iHeartRadio. You're everywhere.  

Royal: Yeah. Yeah. And, and one thing I, I really encourage folks to do is to search my name out there because Life by Design, there's like actually a couple of different podcasts out there with that Life by Design name. 

Aric: Really?  

Royal: So I really encourage people to, uh, if you're looking for our podcast, search my name and it'll pull right up there. So just a little tidbit there for you. You were the first one cause I know you're subscribed. You subscribed very early on.  

Aric: Well, actually, I've subscribed on three different services, just, you know, because, that's what I do.  

Royal: I appreciate that. Yeah, I appreciate that.  

Aric: No problem. Yeah. But you were the first Life by Design, you know that, right? 

Royal: Yeah, yeah, yeah, sure.  

Aric: Because yeah, we, we researched it to make sure that the name wasn't taken, so whoever's infringing, can I use that word on this podcast? Infringing on your name? We need to, all right. Yeah, we'll talk about that off there. Maybe.  

Royal: Yeah. Yeah. But there, there's a few out there. So it's always funny of like, yep, yep. That's not it, that's not it. That's not it.  

Aric: See, now you got me curious. I'm gonna be googling that after we're done here. Yeah. You just ruined my afternoon, or at least  

Royal: No, I didn't. No, I didn't. Nothing can ruin your afternoon.  

Aric: No, this is true. I mean, I'm here with you, so, yeah,  

Royal: Exactly. It's just a highlight of your month. 

Aric: Yeah! So what else is going on? What, what are we talking about today? What do we want to talk about today?  

Royal: Well, I thought we would spend some time on some of the things that I'm dealing with in the first part of this year.  

Aric: Okay.  

Royal: But I just hear over and over again from clients and I think it would be good to just address those and talk a little bit about that. Because one thing I'm seeing is there is a lot of information out there and a lot of fearmongering happening around.  

Aric: Mm-hmm.  

Royal: Our currency, our banking system. Our national debt, all of these things. Now, all of these things have their issues for sure. But I keep hearing, uh, conversations with folks of, do I need to just buy gold?  

Aric: MM-hmm. 

Royal: Do I just put all my money into gold and silver and, and how does that work? And, you know, I'm happy to walk through my advice for folks when it comes to, uh, maybe being. prepared for some sort of crisis down the road. Um, I keep hearing a lot about, um, our entire currency system becoming digital. next week. 

Aric: Next week, next week. 

Royal: Yeah.  

Aric: I've heard it like very quickly. Okay. Whatever.  

Royal: Yeah. And that this will cause the government to track, uh, all, all of our financial transactions. And usually my response is, you're, you're not paying enough attention to what's going on. We already do virtually everything on a digital basis and  

Aric: Mm-hmm. 

Royal: The government, if it wants to, can track everything that you're doing. Uh, all they have to do is look at Google or Amazon to see where all your money's going.  

Aric: Yeah. Yeah. Absolutely. I agree a hundred percent.  

Royal:  Yeah. Um, and then also the other big issue is, we are just seeing so many clients coming in with, um, a diagnosis of dementia. 

Aric: Hmm.  

Royal:  And I mean, I'm seeing this, you know, a couple times a week now. 

Aric: Really?  

Royal: Of having - Yeah, yeah. Having that conversation with folks of, okay, how does this work? What do I have to do? You know, do I need to put everything into the bank? Do I, do I need to start giving money away? How, how best do we deal with this? So these are conversations I'm just having over and over again and I'd love to kind of just spend the next 20, 25 minutes kind of answering those questions.  

Aric: Mm-hmm.  

Royal: Because I think it's really valuable for folks if they do have those questions, uh, just to kind of hear my perspective there, uh, on what I'm telling my clients. 

Aric: I'm really curious because I have not heard that before as far as an uptick in, in, dealing with diagnosis of dementia. Um, when ADD, attention deficit disorder, when, when that started to really hit the airwaves, if you, if you want to call it that, it seemed to me, and I, I know that there were many articles written about it, that there was a large amount of over a diagnosis right, of, of ADD All of a sudden a kid's acting out in class. He's got ADD, you know, a kid didn't get some homework done. Oh, they got ADD So it, it seems like there was a lot of that going on with the youngsters, with that kind of thing. Do you think, in your opinion that that is kind of maybe what you're seeing here, that people are like, well, there's memory issues, so on and so forth, and it's probably dementia? Or do you think these are, these are authentic diagnoses or, or that they're not jumping the gun? Any thoughts on that?  

Royal: Yeah, absolutely. So there, there's absolutely senior moments. There's absolutely some cognitive decline that happens as you age.  

Aric: Mm-hmm.  

Royal: Which isn't Alzheimer's, it isn't dementia, it's just part of the natural aging cycle. Um, a lot of these are diagnoses by neurologist and being treated with, uh, drugs to slow the progression, uh, of whatever disease they're being diagnosed with. And, and absolutely true. This is all anecdotal, uh, evidence that I'm seeing, but I think there's just a big need here.  

Aric: Yeah.  

Royal: And a lot of people are just not prepared for what this means for themselves, their families, their loved ones. 

Aric: Yeah. Well, that's a, that's a good point because what, what I didn't take into account is it doesn't matter if it's a, um, maybe it's a doctor jumping the gun. First of all, I would say that anybody who gets a diagnosis like that needs to get a second opinion, just to make sure. But it doesn't matter if it's a, it's a false diagnosis or a, a jumping the gun, whatever you wanna call it. Planning is still, planning's not gonna hurt your situation. It's only gonna, you know, enhance it.  

Royal: Right, right. And that's the whole point. We, we do the planning early on. And that way when, when something like this arises, it's not a scramble to do everything all at once because, you know, the hardest part there is if you do have a diagnosis of dementia and you need to start, uh, making those decisions about who you want to have, handle your affairs, you know, there's, there's a, there's a competency question that comes into play there. Um, and, you know, a diagnosis of dementia. Does not mean that you can no longer make decisions for yourself. Now, it really depends on how far it's advanced, but um, that's where if you can make decisions in a non-crisis situation, I think you're gonna make better decisions.  

Aric: Absolutely. Absolutely. Yeah. Because there's a lot of emotion involved with that. No matter what the diagnosis is, there's gonna be a motion of vault.  

Royal: Absolutely. Especially if it's, if it's a spouse and it's a question of, okay. They're not bad right now. I can take care of them. Um, I'll just do that, you know, uh, for the rest of their lives. And that's, that's a really hard thing to do. And I think we need to have realistic conversations about, uh, what it's like to get older and age with somebody while you are also being their caregiver, and how devastating that is to your own health as a caregiver and how stressful it is. Because there usually aren't very many breaks, you don't have much support. Uh, and it can be just very, very challenging for folks. So that's really where we want to ha start having these conversations early on. Really probably when somebody turns about 60.  

Aric: Mm-hmm.  

Royal: Because I mean, we, we have those clients that in their late sixties are already being diagnosed. And, you know, my, my stepmother was a, you know, uh, I think she was about 55 when she was diagnosed. 

Aric: Yeah. Wow.  

Royal: And I, I, I've heard, uh, other clients dealing with this in their fifties and it's, it's something that we'll probably be dealing with for a long time here, unless we find some medical breakthroughs to  

Aric: Mm-hmm.  

Royal: Reverse some of these diseases. So we really wanna start having this conversation around 60 of, what are you going to do should you need long-term care. And that's, that's our long-term care conversation. That's usually when we address it, you know. Does it make sense to purchase a long-term care policy? Do you have the assets where it makes sense? Um, do you have too, so much assets where you really don't need to ensure. 

Aric: Mm-hmm.  

Royal: Um, and you know, we have those questions just if nothing else to address that with folks. The biggest issue is, is the older you get, the more expensive those long-term care policies become.  

Aric: Mm-hmm.  

Royal: And if you've had a medical event, you know, like a cancer diagnosis, something with your heart, uh, or you've already started to have some cognitive decline that's been noticed by your doctor, then in that case you're, you're probably not gonna be able to get any long-term care insurance at that point, and you've waited too long. So we always try to address that around the age of 60, and most importantly here is, do you have the proper documents legally to make sure that you're giving, you know, a, a trusted spouse or a trusted family member, a trusted loved one, kind of that power to -  

Aric: Mm-hmm.  

Royal: Make those decisions when you're no longer able to for yourself. And that's really where we're talking to folks about, talking with an attorney about having a trust done. Having a power of attorney done. 

Aric: Yeah.  

Royal: Having an advanced directive done and then updating those on a fairly regular basis. Because let me tell you, a lot of a lot of places just won't accept a power of attorney, um, if it's older than five years, they want,  

Aric: Really?  

Royal: Yeah. They want to see something signed, uh, more recently. So, you know, that's, that can be a challenge too. So definitely make sure you're, you're updating those on a fairly regular basis. Especially as things change, as you, you lose loved ones, that sort of thing. So that, that's a big thing.  

Aric: I know you didn't wanna spend all the podcasts on this, so I just wanna say this one piece.  

Royal: Yeah.

Aric: Cause you've covered this a a bit in, in other podcasts as well. If you are the child of somebody who is approaching that age or maybe a little bit older. Royal has said before, he has conversations with, with kids all the time about how to approach, I say kids and you were talking like 40, 50 year old people  

Royal: Mm-hmm. 

Aric: How to approach their parents and have these conversations in, in tactful ways. Something to make sure that mom and dad are taken care of. Um, so we'll give contact information at the end of the show. And, and I know that you're more than happy to, to take those phone calls or emails to help them, you know, approach this. Because you do need to know if your parents have these documents in place in case something happens because you don't wanna be standing at the hospital. And then the doctors are saying, we can't talk to you about stuff. Just, I mean, that's a horrible situation to be in.  

Royal: Right, right. And you know, I know, I know I've talked about this before on the podcast, but, um, I was 27, I got a call from my dad saying he had been diagnosed with lung cancer, fly out. He's got a couple months left. And when I got out there, I found out that he had been taking care of his, uh, of his wife, my stepmother, for the last two or three years. That she had dementia. She had gone blind and, Hey, it's your responsibility now.  

Aric: Wow.  

Royal: And he passed away about a month or two later, after that. And it was a scramble. I mean, luckily I was named as a third option on a power of attorney form, so that allowed me to make those decisions for her.  

Aric: Yeah.  

Royal: Cause I think at that point she, um, you know, competency would've been a challenge, and then it's going through the court system to get guardianship and a conservatorship to manage those things. So, you know, updating, updating those forms and making sure your wishes are lined out. It's really important because this happens very gradually and then suddenly  

Aric: Mm-hmm. Yeah.  

Royal: Where you see that decline slowly. May, may, maybe there's something, maybe there's something, and then you reach a crisis point where it's, okay, now the rubber meets the road. How did we do on our planning?  

Aric: Mm-hmm.  

Royal: And so, so that, that's really the encouragement there of if you are expecting your kids to do something, Uh, for your sake in retirement, when you're no longer able to make those decisions for yourself, talk to your kids and tell them what your plans are.  

Aric: Yes. Yeah.  

Royal: And kids, it's, I think it's, it's okay in the right circumstances to have those conversations with mom and dad to say, Hey, what's, what's the plan? What are you expecting me to do?  

Aric: Mm-hmm.  

Royal: Like, I don't, I don't need to get into your financial business. I don't need to. You know, know everything, but I need to know what you're, what you're expecting from us. And if the answer is, well, you'll figure it out that that's where some additional planning needs to, needs to happen. 

Aric: Yeah.  

Royal: Um, you know, and, and we, we can act as, as guides there, uh, your  estate planning attorney is an excellent resource to say, Hey, let, let's make sure we're covering these gaps. And making sure people are just taken care of. So th- that's, that's one of the biggest things I'm just constantly having conversations with of how do we deal with this? Um, do we have enough, do we have to look at, uh, Medicaid stepping in to pay for care? When do we make that transition to assisted living, uh, or memory care? Um, these are the conversations that we're having on a weekly basis, and it's really something else right now.  

Aric: Yeah, well, let, let's switch gears because that the banking stuff is very interesting to me, and I know that people can't see, you know, that the webcam only goes so low and they can't see all the bags of gold you've got stashed on your desk or silver, or bags of Bitcoin. 

Royal: [Laughter] 

Aric: I'm not sure how that works, but bags full of Bitcoin. Uh, let's talk about that because it is all over the, well, not all over every bit of news. Mainly the shock and awe news, right? They're  

Royal: Mm-hmm.  

Aric: They're, they're bringing this up. Um, but I did hear something, actually, it was on TikTok, to be honest with you. Like it was a couple weeks ago  

Royal: Where most of us get all of our news.  

Aric: Well, yeah, well, yeah. Where most of us get all our accurate news from, Royal. Sorry. Uh, it, yeah. And it was the, the person that was talking was like, here, listen, I'm, I'm not telling you what to do, but we have about three weeks left. Like what? For what? And then it went on to say the, the fall of the US dollar, you know, the, the Chinese Yuan, I think is, is, if I'm pronouncing that correctly.  

Royal: Mm-hmm.  

Aric: The digital Yuan is taking over. Um, you know, it, the entire US economy is gonna be in shambles. And if you don't have gold, silver, precious metals, I don't think lead counts, but yeah, buy stuff to be able to trade stuff. I'm like, I don't think we're getting that point anytime soon.  

Royal: Hey, lead counts if it's in the shape of bullets.  

Aric: This is true and brass, you know?  

Royal: Right, exactly. Exactly.  

Aric: Alright, so yeah, let's talk about it. What, what are you hearing?  

Royal: So if, if we're looking at things and there, there's a lot of different pieces there. You know, we're talking about the banking system, we're talking about the US dollar, we're talking about some of these currency moves that China, Russia, Saudi Arabia are making.  

Aric: Mm-hmm.  

Royal: Um, you know, there's a lot going on and we hear these things and we think that they are going to, uh, completely chang the world. Um, oftentimes our financial system is so big, these things just get absorbed and we move on to the next perceived crisis.  

Aric: Mm-hmm.  

Royal: Um, you know, I think the, the idea of, um, you know, Saudi Arabia moving away from, a dollar-backed, uh, oil  

Aric: Mm-hmm.  

Royal: Uh, system. You know, that that probably does have some impacts there, um, you know, over the long run. But trusting in Russia and China, two countries where I would say their, their rule of law isn't that great, is probably not a long-term plan for success.  

Aric: Mm-hmm.  

Royal: That is one of the beauties of the US as we are country made up of laws. We have a constitution, we have a judicial system, and most of the time it works pretty well. 

Aric: Yeah.  

Royal: People can't just do whatever they want and that's why there's so much trust in the US system of government, so much trust in the currencies in our banking system. So we fall back on that. As far as gold and silver, folks who are online spouting that you need to convert all your money into gold or silver or other precious metals, oftentimes just follow the money on those, those conversations. 

Aric: Mm-hmm.  

Royal: They're usually recommending ‘well, and the only place to get your gold and silver is my brokerage firm or this brokerage firm.’ And really a lot of that information is just a, uh, an infotainment, uh, advertisement. 

Aric: Mm-hmm.  

Royal: For one of these brokerages.  

Aric: Yeah.  

Royal: Just from the simple fact of there's so much money to be made there from these brokerages. Having people who are uneducated on buyed metals drop 20, 30, $40,000, to buy, um, you know, not worthless metals, but uh, definitely overpriced metals.  

Aric: Mm-hmm.  

Royal: When you factor in all the fees and, and everything that happens there. So that's where we say, be really careful. This is, this is our advice for most people who say, Hey, I'm worried about the economy. I wanna have something that I can access, that I can get to. And really our advice there is, number one, just have five to $10,000 if you can, uh, of cash at your home in case the, the bank shut down for, for a weekend, God forbid.  

Aric: Mm-hmm.  

Royal: You know, we, we saw what happened with Silicon Valley Bank. Yeah. They closed on the Friday and they opened on Monday. There, there wasn't a disruption to the banking system. Investors in Silicon Valley Bank lost their shirts.  

Aric: Mm-hmm.  

Royal: But the banking system for the normal retail investor kept functioning. And we've seen that over and over again with banks. We do feel like what happened with Silicon Valley Bank and some of the other banks that were affected by an over-concentration in Silicon Valley and tech. That's really just capitalism working. You made a business decision, it worked fairly well, and you never diversified out of that area, and you got over leveraged and you probably made some, um, poor investment decisions of going long treasuries in a rising interest rate environment.  

Aric: Yep, yep.  

Royal: So, you know, these things happen, but our government stepped in like they do, like the banks pay for FDIC insurance each month. That's what it's there for. It's designed to backstop the system and you know, it, it's testament to those things working. So what I tell folks is, you know, have some cash at home. You know, $5 to $10,000 is, is probably the range, I would say makes the most sense. Um, and then if you're concerned about whatever it is, and you want to have some metals, you know, go, go buy a little bit of silver, go buy a little bit of gold. Look for a rep, reputable, uh, local brokerage. Try to stay offline, try to stay off the, the companies that are advertising a whole bunch. Advertising's not cheap.  

Aric: Mm-hmm.  

Royal: The margins in those business are, are not great if you're not overcharging your client. So that's kind of my advice to folks is, is if you want some, buy some, keep it at home, put it in a safe deposit box. Um, but but don't get so scared that you just dump everything into metals and kind of bury it in the backyard.  

Aric: No,  

Royal: Because that stuff can get lost. There's fires, there's a whole, whole bunch of different things that can happen. Um, and we just wanna be really cautious there that we're not saying, oh, the monetary system has risks over here, so let me move into something that has a whole other set of risks over here.  

Aric: Yeah.  

Royal: For instance, Bitcoin.  

Aric: Mm-hmm.  

Royal: If you're concerned about the, the banking system, are you, are you not concerned about digital currency and everything we've seen happen over the last year?  

Aric: Exactly. Right.  

Royal: You know, so, so it, it's really trading one set of risks for an entirely different set of risks, so we just tell people, be careful, you know, um, it's really, really hard to plan for the apocalypse. 

Aric: Mm-hmm.  

Royal: It's honestly the thing I hate the most in, in talking to folks because, There are normal gyrations in the economy, but when we start talking about the US government collapsing it in the next three weeks, what exactly are we supposed to do there?  

Aric: Mm-hmm.  

Royal:Like that's not a long-term strategy. It's really go by bullets and toilet paper. 

Aric: Yeah. The two essentials right there.  

Royal: Exactly. Exactly. Every, everything else is kind of,  

Aric: Yeah. Yeah,  

Royal: I mean, rearranging deckchairs on the Titanic.  

Aric: Mm-hmm.  

Royal: Like if you think the US government's gonna go under, what are you gonna do? You know, if the US economy goes under, it's taking the rest of the economies in the world with them. 

Aric: Mm-hmm.  

Royal: We saw what happened in 2008. 2008 was a US housing issue that spread to the rest of the world, and it took five to 10 years to work our way out from underneath that.  

Aric: Wow. That's a great point. Yeah. 

Royal: You know, so that, that's my feeling there on, on all of this kind of noise out there is so much of it is just being produced to create interest in some of these products, like digital currencies, like gold and silver, some of these alternatives. Or it's just being thrown out there to get clicks.  

Aric: Mm-hmm.  

Royal: You know what you don't see on TikTok, people talking about how stable the US economy is. How well the US banking system does.  

Aric: Yeah. 

Royal: You know, that sort of content doesn't move the needle. What moves the needle is panic, panic, panic, panic. Here's an idea that, that you can implement. And a lot of times that's just noise.  

Aric: Mm-hmm.

Royal: You know, I, I, I grew up in a very religious background where the rapture was going to happen next month, three months.  Tomorrow. And at a certain point you just go, you know, nobody's, nobody knows when that's gonna happen and when it happens, it's gonna happen.  

Aric: Yeah. Right, right. Exactly.  

Royal: You know, and, and you, and not to say you become jaded by it, but you, you begin to say, I, I can't keep living my life expecting the ultimate catastrophe to happen. 

Aric: Mm-hmm.  

Royal: Because number one, if it does, it does, there's nothing you're gonna do to really change that. Might as well just enjoy things until it does.  

Aric: Mm-hmm. Yeah. Well, and here's the other thing is that I, I don't know anybody in my inner circle, maybe you do, but in my inner circle, that that would know a, a counterfeit piece of silver or a counterfeit piece of gold, if that's what we had to start trading, right? I've gotta start trading some strips of silver, you know, for my food. If somebody's gonna buy something from me, how am I gonna test it? How am I gonna know if this is real silver or if this is just whatever, you know? So it's a whole other set of problems. There's always gonna be somebody trying to take advantage of somebody else, right? 

Royal: Yes.  

Aric: Like you said, you're, you're posting things just to get clicks because clicks equal cash of some kind at some point. Or you, you're selling advertising space on, on news, you know, channels because that's what drives people to those channels. I mean, it, it's, it's always somebody trying to get money for something and like you said,  

Royal: Mm-hmm. 

Aric: And, and I know I'm not putting you on the spot because I, I'm pretty sure you can't say it on the podcast, but if you have had dealings with reputable metals dealer and people are just curious or they, they want to, can they reach out to you privately and you can kind of talk through a couple maybe that you know of? 

Royal: Yeah, I'm happy to. I'm happy to, and-  

Aric: I know we can't say it on the podcast guys, so.  

Royal: Right. And, and if nothing else, just kind of talk through how those companies work.  

Aric: mm-hmm.  

Royal: And how they make money. Yeah, because they are, they, they're not non non-profits. They make money, just like most traders do, operating with the spread-  

Aric: Mm-hmm. 

Royal: Between what the asking price is and what the sales price is. So, so yeah, it's just having those conversations and really, really trying to determine what are you trying to accomplish if you want to buy metals, and I have no problem with anybody wanting to have some gold or silver at their home. You know, I have some gold, silver at my home. You know, it's not a lot, the thieves out there, you know, don't come by, But- 

Aric: You don't know where he buried it. You'll never find it. He's got a huge yard.  

Royal: Right. It's definitely not in the refrigerator.  

Aric: Uh, please don't look there.

Royal: Yeah. Um, but no, no, I, I mean, you know, we, we just want to, we want people to make good decisions for the long run. 

Aric: Yep. Yep. And, and I, I, again, I also own silver and I also own gold. Um, and again, thieves, please don't come by. I also own lots of lead, so there you go.  

Royal: That's all right.  

Aric: Well, again, I know that you, you've had other things on your list. What else, what else are people talking to you about? Or, or, or have questions about? 

Royal: Yeah, I think the, the big thing that we're talking to clients about right now is, people are still coming in saying, ‘hey, things are really bad right now in the stock market.’  

Aric: Hmm.  

Royal: And you know, looking at kind of the moves here in bonds and, and stocks, 2022 was a terrible year. And really most of that happened, the really bad part was in the third quarter of last year. But if we're looking at what's been happening since the third quarter of 2022, we've actually had about six months of really good performance and good recovery in the stock market as well as bonds.  

Aric: Hmm. 

Royal: You know, the, the bond markets ha- have kind of leveled out here because the feds are indicating we're gonna see one, maybe two more rate increases this year. Uh, and we're, we're done hiking rates and so we'll, we'll see what they do at their May meeting. That bodes fairly well for bonds just from the standpoint of bonds lose value when interest rates go up. If the feds are saying they're not raising interest rates anymore, that means they're, they're gonna kind of stabilize, they're already yielding more than they were at this time last year. 

Aric: Mm-hmm.  

Royal: Um, and they don't have that risk of higher rates necessarily. So that's a positive. The stock market has been rallying, you know, from their lows that they said in the third quarter. So, you know, once again, looking back, you know, hindsight's 20/20, staying invested and not making panic moves when the markets drop, you know, continues to be a good investing strategy, uh, for folks versus trying to time the market, jumping in and out and unless you're really, really good or really, really lucky.  

Aric: Yeah.  

Royal: Usually those strategies don't work out that well.  

Aric: Yeah, absolutely. Yeah.  

Royal: So I mean, that, that, that's a big thing. We do expect more volatility in the stock market, probably smoother sailing from bonds, you know, for the rest of this year. But really I think it's just a testament to, you know, how are you diversified in your portfolio? How much risk are you taking, and what's your long-term outlook here?  

Aric: Mm-hmm.  

Royal: You know, kind of the fundamentals of investing and financial planning that we just keep going back to over and over again.  

Aric: Yeah. Again, it's. It doesn't matter what you want to do, it's, it's how can you achieve that, right? I mean, you, you always talk about, I wanna know what you want for your future in five years, 10 years, so on and so forth, so that you can take a look at the overall plan. It's always about that same two words overall plan. And everybody's individual. And that's, that's great. But it's their overall plan. And if gold fits into it, great. If silver fits into it, great. If emergency cash fits into it, which it always seems to great.  

Royal: Mm-hmm.  

Aric: If, if bonds fit into it. Great. So again, these are all conversations that people need to have with you one-on-one. Um, I don't know if you want me to ask for your contact information now, you've said on pretty much every podcast, but, uh, if you have something else we're gonna talk about, great. If not let, let's give 'em some contact info so they can have that one-on-one talk.  

Royal: Yeah, I would say go to our website, opfa.com. You can schedule an appointment with me or one of the other advisors here in the office. Uh, it's a great way of just getting some different perspective on what have you been doing for preparing for your future. What have you been doing on your investments? And, you know, we wanna have those conversations with folks because we feel we provide a, a, a good amount of value, um, to people's lives just on, on having that ongoing relationship with folks and helping them, uh, kind of steer their way through what life's throwing at them. 

Aric: Yeah. Agreed. All right, Royal, thank you so much. Good podcast today. It was a lot of fun.  

Royal: My pleasure. Thanks, Aric.  

Aric: You bet. Thank you also for tuning in and listening to the Life by Design podcast with Royal Stanley. If you have not subscribed to the podcast yet, please click the subscribe now button below. This way when Royal comes out with a new podcast, we'll show up directly on your listening device and we ask it humbly ask you to share this with family and friends. Rate it and leave a review as this actually does help others find the show. Again, thank you so much for tuning in today. For everyone at Oregon Pacific Financial Advisors, this is Aric Johnson reminding you to live your best day every day, and we'll see you next time. 

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Please note that discussions in these shows are for educational purposes only. Information presented should not be considered specific investment advice or a recommendation to take any particular course of action. Always consult with a financial professional regarding your personal situation before making financial decisions. The views and opinions expressed are based on current economic and market conditions and are subject to change. All investing involves risk, including the potential for loss of principal. Securities offered through United Planners Financial Services (UP), Member FINRA/SIPC. Advisory Services offered through Oregon Pacific Financial Advisors, Inc. (OPFA). OPFA & UP are independent companies. Neither OPFA nor UP offer tax or legal advice.