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Hello everyone and welcome to the Big Picture Retirement Show, where we deliver insight on what you need to know for a meaningful and successful retirement. If you are planning for

or living in retirement, this is the show for you. I'm Devin Carroll. Join back today with John,

my co-host. Hey, John. Howdy? All right. So, John, how long have you been in an attorney?

About 15 years now. Really, 15 years. So when did you get licensed? Is that what happens in the attorney world? Right. You go to law school. You pass the bar exam. And there you go. So I graduated from law school in 2002. 2002. Okay. So that's when, yeah, that's when I got hired by the big firm that I worked for, 2002, and started studying for all my exams. So early 2003. So you and I have been after this for about the same amount of time there. Yeah, no, I think that's about right. So, you know, I thought it would be neat if we could have a conversation with a friend of mine, a guy I've known for a while now, Dave Waldrop, he's a financial planner

out near the Sacramento area, and he's been practicing for about 15, 16 years as well.

So he's had the opportunity to see a lot of different types of clients come through.

And so I gave him a call the other day and had this chat with him.

David, welcome to the show.

Thanks so much for having me.

You've been a financial advisor, financial planner for how long?

Gosh, I think going on 15 years or so now.

It sounds like we probably got our start in financial planning about the same time.

And so I thought it'd be great just to have a conversation about some lessons we've learned.

Because, man, I know I've learned quite a few.

Yeah. And sometimes we learn the hard way.

Well, you know, I can't remember who it was that said this, but there's no mistakes, only learning opportunities.

So I guess I should rephrase that and say, I've had plenty of learning

opportunities. Oh, yes. If I look back to 2008 and 9, one of my greatest regrets through that period

is that I wasn't more convincing to my clients that they needed to stay invested.

And I didn't have too many go to cash, but the ones who did go to cash,

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