0:00:00 - Speaker 1
Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through registered representatives of Cambridge Investment Research Inc. A broker-dealer member, finra, sipc Advisory Services through Cambridge Investment Research Advisors Inc. A registered investment advisor. Cambridge and Greenway Wealth Advisory are not affiliated. It's time to dive into some insider secrets of investing and retirement planning To make your retirement as smart and as elegant as possible. This is Money Chic with Sherry Rash.

0:00:31 - Speaker 2
Hey everybody, welcome into another edition of Money Chic, women and retirement with Sherry Rash from Greenway Wealth Advisory, back again with me to do another podcast talking about investing, finance and retirement.

We're going to have some fun on this episode. I think we have fun on every episode, but we're going to have some fun with this one A little fun thing called how Do you Say it, and it's a fun exercise in linguistics to talk about. You know some terms and terminology, sherry, because often people will hear some of this stuff in the financial world. Maybe they don't know what it is or they know exactly what it means, they have a rough idea. But sometimes when you're talking they'll kind of hear these terms and they'll nod and just kind of move along, even though they don't totally truly understand it. Or maybe the other term, which means the exact same thing, rings a bell and makes them feel a little bit better. So I thought this could be a fun way We'll do some stuff inside and outside the financial world just to kind of have some fun with words. What do you think?

0:01:22 - Speaker 3
That sounds great. Yeah, do a little something different.

0:01:24 - Speaker 2
So we'll break the ice with something really easy. Okay, and I think a lot of these things you'll find depending on where you were raised or what part of the country you're in. They probably affect how you think about some of these terms. For example, sherry, do you say tennis shoes, sneakers or gym shoes?

0:01:39 - Speaker 3
I say sneakers and sneaks, okay.

0:01:42 - Speaker 2
All right, yeah, and so you were raised in the New Jersey area, right?

0:01:46 - Speaker 3
Correct, yes.

0:01:47 - Speaker 2
So I would think that makes a lot of sense because I say tennis shoes or tennis, right, and I was raised more Midwest North Carolina well, I don't know if that's the South, I suppose, but North Tennessee, that kind of area, right. So I think, depending on where you are and I was talking with somebody the other day who was from Idaho and they say gym shoes- Interesting.

0:02:07 - Speaker 3
Everybody says something different, right? So there are tennis shoes, even if you're not going to play tennis.

0:02:12 - Speaker 2
Well, I think that's now. Don't quote me on this, but I think that's how they were created originally. I think the reason we have them is because they were made to play tennis in right, and so they just kind of morphed from tennis shoes into all these other things we have. I'm not 100% on that, but that's what I've heard, so I have to. I Googled my friend.

0:02:28 - Speaker 3
Yeah, I'm going to do some Googling on that one, I'm going to do some homework on that one.

0:02:31 - Speaker 2
But the point being right is all three are the same, right? Tennis shoes, sneakers, gym shoes, it's all the same. Now I'm going to hop around on our list real fast just to kind of solidify this point a little bit. So I'm going to go to junk bonds or high yield bonds, because if we're talking about the financial world, a lot of people are familiar with the term junk bond, but they're maybe not so familiar with a high yield bond. But if somebody walks in and says, hey, I'd like to sell you a junk bond or a high yield bond, which one are you going to take?

0:02:57 - Speaker 3
Obviously the high yield bond sounds much more attractive Sounds better.

0:03:00 - Speaker 2
right, Because it's the same thing.

0:03:03 - Speaker 3
Yeah, If someone says I'm going to sell you some junk, you're not clamoring to go purchase it. Hopefully not right.

0:03:09 - Speaker 2
So talk to us a little bit about the fact that they are the same thing and people don't realize that. I think it just got kind of one of those Madison Avenue makeovers where they said, hey, yeah, the high yield sounds much better than a junk bond, but what is it?

0:03:20 - Speaker 3
Yeah, so high yield bonds are bonds from issuers that are considered to be at greater risk of not paying interest or returning principles, so they are actually a little bit more risky because they may not pay on the bond.

0:03:37 - Speaker 2
So it's a risk reward thing, right, exactly. They offer more yield because they're riskier.

0:03:42 - Speaker 3
Exactly, which is probably why they were called junkers. Oh, these are junk. They're not paying. These are junk, but it is a risk reward, just like when you're investing in the market the higher risk, the higher potential reward. But we don't call them junk stocks.

0:03:59 - Speaker 2
Well, and it's funny because if you actually look on the exchange, the code is actually JNK, which is pretty fine. But a lot of times it's based on the credit rating of the issuing company or country, right, whatever the case might be with the bond, so the entity, the government, whatever the case might be. So it doesn't necessarily mean that they're absolute garbage by any means, it just means be aware that it could be a riskier investment when you're talking about within your portfolio.

But yeah, I do, really do think that somewhere somebody said okay, wait a minute, we'd sell a lot more of these if we switch those to a nicer name. It's kind of like insurance, right, they call it life insurance because if you call it death insurance, nobody would buy it. Right, right, sure, but it's a lot of times its initial form was, you know, upon death, right, but you can't call it death insurance because nobody's gonna buy it.

0:04:44 - Speaker 3
So I mean, we already have a hard enough time talking about it with the name life insurance, Exactly exactly Making it sound a little bit more attractive.

0:04:51 - Speaker 2
Exactly so you get the point of the podcast A little fun here, just kind of looking at these terms and going through some stuff and realizing a lot of times they're really the same thing. So not letting terminology overwhelm you when you're sitting down to talk with a financial professional, All right, let's go back to the I think.

0:05:06 - Speaker 3
Also, I think also, what's important is if you hear a term and you're not sure what it means to ask yeah, exactly that's okay, don't feel like you should know every single version of the same thing. I mean if you don't know what a high yield bond is, but you've heard of junk bond and advisor says to you a high yield bond, ask what it is.

0:05:25 - Speaker 2
Exactly.

0:05:26 - Speaker 3
That's what we're here for.

0:05:27 - Speaker 2
And it's easy to do, right? I mean, how many times have you gone to the doctor's office and they tell you something and you go, uh-huh yeah, you just kind of nod your head and you don't stop for a second to ask them what it might be or why they're doing it, and maybe you think, well, I don't do that. I definitely ask them. That's good so. But there are people who will go into a financial professionals office. They'll hear some stuff and they don't want to appear as though they don't know what they're talking about. Right, so they don't ask the questions, and that's the wrong way to do it. Definitely ask those questions. Be your own advocate, for sure. All right, let's have some fun. Let's go back to another one here. Do you say fireflies or lightning bugs?

Lightning bugs, yeah, okay. So again, I think, depending on where you're raised, I say fireflies plus, it's just a cool word.

0:06:08 - Speaker 3
It does. Fireflies does sound so much more romantic.

0:06:12 - Speaker 2
Oh, okay.

0:06:13 - Speaker 3
Special it just is such a prettier way to say it versus lightning bugs.

0:06:18 - Speaker 2
Which is weird, because bug or fly, neither one's great right. But, for some reason fireflies kind of rolls off the tongue a little better. I don't know.

0:06:26 - Speaker 3
It does, and did you capture them and put them in jars Of?

0:06:29 - Speaker 2
course you have to put them in mason jars and run around at night with them.

0:06:34 - Speaker 3
That's right, poor things I know, right?

0:06:36 - Speaker 1
Well, I always let them go.

0:06:36 - Speaker 2
So at least it was that All right. So let's go back and do another financial one. Do you say stocks or equities?

0:06:44 - Speaker 3
I generally say equities Okay.

0:06:46 - Speaker 2
Are they the same thing? But I do catch myself.

0:06:49 - Speaker 3
I really try to pride myself on limiting the jargon because it's so easy or you hear it so often when you're sitting in front of someone in the financial services. They just rattle off their jargon and sometimes it's just to make themselves sound a little bit smarter, in my opinion. But I try to use as many different words for the same thing as possible or I try to avoid the abbreviations. So I do think I say equities more, but I will also say or stocks, to try to make sure my client is understanding exactly what I'm saying and eliminating that confusion that we just talked about.

0:07:27 - Speaker 2
Yeah, exactly. So I think a lot of times if you say equities, somebody across them, you might kind of again maybe do that head nod thing right Right. I know that term. I know I have equity in my house, for example. But what are equities? Right, but if you say stocks, it tends to register better. And the same thing with securities. You might hear it called that way. Right, you might hear the term securities.

So it's all basically the same thing. So it's just a matter of understanding that terminology. But stocks and equities, it's the same thing. All right, let's do another one here. Let's go with financial advisor or financial planner. What do you say?

0:08:02 - Speaker 3
So I refer to myself as a financial advisor. Financial services is a funny industry in the fact that you're not given a title. You kind of just determine yourself what your title is going to be. So you could come across five different advisors that all have the same credentials and licenses, and they could call themselves five different things.

0:08:25 - Speaker 2
It was being nice with just those two, right, because I actually have a financial advisor, there's with an O, there's advisor with an E, there's financial planner, there's investment advisor, there's retirement planner, and then there's like stockbroker.

0:08:39 - Speaker 1
I think we hopefully know, that that's different.

0:08:41 - Speaker 2
Stockbroker should hopefully people realize that's a bit different.

0:08:44 - Speaker 3
Yeah, and so there's not clear rules on what you need. You should be called, which is probably should be changed or fixed.

0:08:53 - Speaker 2
I think they keep trying to do that and it keeps getting kind of kicked down the road. Yeah, because it's hard, I mean it is hard.

0:09:01 - Speaker 3
I consider myself an I say financial advisor because I give advice. This is an advice relationship that I have with my clients. I do financial planning, but at first and foremost, I give advice. So that's why I call myself an advisor. I also call myself a money coach, which is not that common, because it is coaching. There is coaching, there is accountability, there is education. When it comes to finances, it's just not, you know, with a stockbroker, you're buying and selling stocks without the advice part of the relationship, yeah, and I've got a way to kind of succinctly bring this back around.

0:09:40 - Speaker 2
So I'm going to go ahead and actually stick with the financial terms for one more second, because you've already said it twice. So I was going to ask you do you say clients or customers?

0:09:47 - Speaker 3
Clients all day, all day.

0:09:49 - Speaker 2
Absolutely so. Think about what we just said here folks so with like a stockbroker. So customer to me brings to mind transactions right, retail right, something retail based. You go to a restaurant, you go to a store, you're a customer right. So a lot of times with maybe just a broker or just an agent, it's transactional based. So that might be more of a customer feeling. But what you do and what advisors do to your point is the second to go, sherry is you build relationships with your clients Exactly and with the client relationship I could serve different purposes for them.

0:10:27 - Speaker 3
So as far as planning goes, investment management goes, so client is all encompassing in my relationship with them. So every if you think of different businesses or your clients are, all maybe have different needs and purposes, and so that's where I am very adamant about my clients are my clients. They are not customers Cause, like you said, that is transactional. Every time someone calls you you don't charge them right, correct. Yeah exactly.

0:10:55 - Speaker 2
So it's like oh, I got to call Sherry today and she's going to do this for me and she's going to charge me no.

Because it's a it's a client based relationship, kind of like an attorney with having a retainer, so to speak. Right, same kind of idea. So again, it's all in how you say it, these little terms, these little things, kind of how it just tweaks the language just a bit. We're so funny in our country with language. Well, I think in the world in general, people, there's so little little variations, many variations to what language does and how it can mean and how it can alter something so simply. So we'll finish off on a fun note here. We'll do one more for sure. Let's do this one. How about water fountain, drinking fountain or bubbler?

0:11:38 - Speaker 3
Well being that. I am from South Jersey. It is water.

0:11:42 - Speaker 1
Water fountain.

0:11:45 - Speaker 2
All right, she got me there. Water fountain, so I had never heard bubbler before. Had you heard that?

0:11:50 - Speaker 3
I've never heard a bubbler.

0:11:51 - Speaker 2
Yeah, I thought I was like what. I thought maybe my the producers just made this up, but one of my coworkers was telling me that it's very, very popular term in the upper Northeast, like in the Massachusetts area, new Hampshire, that kind of place, those kind of places. And so then I was actually talking with someone after the fact from that area and they were like, oh, it's a bubbler all day long and anyone who says differently is wrong.

0:12:12 - Speaker 3
And wouldn't it be more like Bubla, bubla?

0:12:14 - Speaker 2
Yeah, it's a Bubla yeah it's up in Massachusetts.

0:12:17 - Speaker 3
There you go.

0:12:18 - Speaker 2
Massachusetts, it's a Bubla, and she brought up a funny point. She said oh, she said, look, a water fountain is something you see in a park. You know, and I was like okay, all right, touche, touche she's like a drinking fountain or a Bubla is what you find in the school hallway or at the water cooler and I said, ah, you just called it a water cooler.

0:12:35 - Speaker 1
So there's another term right.

0:12:36 - Speaker 2
There you go so that's a lot of water cooler. All right, one more fun one, and then we'll wrap it up. Do you say soda or pop?

0:12:42 - Speaker 3
Soda, yeah, all day long. Yeah, yes.

0:12:45 - Speaker 2
Absolutely. So there you go, folks. That's our fun podcast this week. Oh, you know what I missed one? I'm gonna do one more. Let me wrap that up in a second. How about market correction, or market crash Correction?

0:12:55 - Speaker 3
now there is a difference here though right. There is a difference. You know, a crash is much more of a severe drop, where a correction is a slight pullback is another one. Yeah, I like I like pullback a lot, but corrections one. It just makes us feel a lot better right.

0:13:15 - Speaker 2
You're that versus correct. Yeah, exactly right.

0:13:18 - Speaker 3
But so the market correction is what I Generally do when, when the market goes down or it corrects itself, it may be a little bit overvalued and it needs to pull back slightly to Get better pricing or be more in line to where it should be and this happens all the time and unfortunately the media, Especially the major media streams, right, they always want to use inflammatory things to kind of get attention right or get clicks or whatever.

0:13:42 - Speaker 2
So you might see, you know, crash thrown out there more than really is deemed. I think a crash. I think technically I'm not a hundred percent I think it's 20 percent or more Of a market decline and something like a bear market has to be more than two consecutive quarters. So you know it's sometimes they'll use these words to kind of again Just to incite views or clicks or whatever the case might be. So you may have heard downturn or market correction or market pullback or market crash. They. There are minor variations to the percentage base on that, but for the most part correction or pullback or downturn is just basically you know the fluctuation a crash is actually 10 percent.

Oh, it's a 10. I thought it was 20. Hi.

0:14:21 - Speaker 3
Yeah, it's actually a 10% fall from its 52 week high. So that, which that's also very specific. So if you think of the high, well, when that quote-unquote Correction happens, it could actually be much more than from the high. So a crash I would say calling it crash after a 10% reduction is quite dramatic.

0:14:47 - Speaker 2
Well, especially with the numbers we're looking at now, right with the where the markets at now.

So well, there you go. So I think this was a fun episode. I think hopefully it shines some light on some of these terms and hopefully had some fun along the way. Did you play along with us whenever we were asking these questions? Do you say tennis shoes? Do you say sneakers, right? Do you say fireflies or lightning bugs? So all of this stuff to kind of show that a lot of times, a lot of these terms can be very similar Stocks, equities, junk bonds, high yield bonds, so on and so forth. They're basically the same thing.

But if, as always, if you have questions about it, as Sherry pointed out earlier, and you're sitting down with a financial professional, a Financial advisor or money coach like Sherry, ask the question. You know, don't let them just keep going on. Stop, pause the the Conversation and say, hey, I'm not really sure what that means. There's nothing wrong with that. And if you do have questions, definitely reach out to a qualified professional before you take any action. As always, stop by Sherry's website, greenway wealth advisory comm. That's greenway wealth advisory comm.

Get yourself onto the calendar for a conversation about your retirement journey with Sherry. If you're not already working with her, you can share the podcast with others who might benefit from the message by simply letting them know to Check out money chic women in retirement on Apple or Google or Spotify or any of those podcasting Platforms. You can find us on all the major ones. Sherry, thanks for hanging out and playing this game with me. Thank you, this was fun. I appreciate it. Yeah, you have a great week and I will see you next time. It'll be February already.

I know you're gonna be moving along like crazy. We'll see you next time, folks, here on money chic women in retirement with Sherry Rash. Don't forget to hit that subscribe button and we'll catch you later.

0:16:23 - Speaker 1
Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through registered representatives of Cambridge Investment Research Inc. A broker dealer member FINRA SIPC Advisory Services through Cambridge Investment Research Advisors Inc. A registered investment advisor, cambridge and Greenway Wealth Advisory are not affiliated.