In this episode of THE FINANCIAL COMMUTE, host Chris invited Meghan Pinchuk, Morton Wealth’s Chief Investment Officer, to discuss the potential ramifications of the recent collapse of Silicon Valley Bank and Signature Bank. They cover: • How these bank closures are different and likely not as problematic as the collapse of Washington Mutual and other banking issues the country faced in 2008. • Details on how the Federal Reserve is protecting depositors at these two banks and other banks that may...
Mar 13, 2023•9 min•Season 1Ep. 26
Why have natural gas prices soared so high in California? On today’s episode of THE FINANCIAL COMMUTE , host Chris Galeski invites Managing Director of Investments Sasan Faiz to answer this question so many Californians are concerned about. This winter has been colder than usual in California, causing the demand for natural gas to increase. California gets most of its natural gas from other states like Texas, and supplies have been constrained there due to pipeline maintenance. High demand and l...
Mar 07, 2023•12 min
On today’s The Financial Commute episode, Chris Galeski welcomes Wealth Advisor Bruce Tyson to discuss valuations and asset bubbles. In the past, some institutions issued fiat currencies, or notes, which were not backed by physical assets. Similarly, today, there are companies that Bruce refers to as “zombie” companies that we should be cautious about investing in because their shares are not backed by real assets or earnings. These companies are called zombie companies because their earnings ar...
Feb 28, 2023•12 min•Season 1Ep. 24
On this episode of The Financial Commute, host Chris Galeski invites Wealth Advisor Priscilla Brehm to discuss how lessons from her past have informed her investment strategies. Priscilla grew up on a family farm in Iowa. When she was nine years old, a hailstorm destroyed her family’s crops. However, their milk cows, beef cows, hogs, and hens offered different streams of income and therefore sheltered them from an otherwise financially devastating situation. Priscilla says although investors can...
Feb 21, 2023•11 min•Season 1Ep. 23
On today’s The Financial Commute episode, Chris Galeski welcomes Wealth Advisor Eric Selter to discuss legacy planning. Eric says he generally finds his own clients falling into one of three categories when it comes to this topic: some want to spend all their money while they’re alive; others would like to help their kids along the way and have a considerable amount of money left over for them after they pass; and some clients are a mix of the two, ensuring they themselves are taken care of whil...
Feb 14, 2023•16 min•Season 1Ep. 22
On today’s episode of The Financial Commute , host Chris Galeski welcomes Wealth Advisor Sarah Ellis to discuss taxes. If you’re a California resident, listen up! Due to the heavy California rain in January, there is tax relief available to those affected by storms, and 41 counties are eligible to extend their tax deadline from April 18 to May 15 without filing an extension. Chris and Sarah also discuss the taxes that come with alternative investments and limited partnerships. These tax-reportin...
Feb 07, 2023•10 min•Season 1Ep. 21
On today’s episode of The Financial Commute, Chris Galeski welcomes Wealth Advisor Kevin Rex. They discuss the importance of educating children about money and increasing their financial literacy. Kevin says that many children tend to model their mindset around money after their parents’. Therefore, it is crucial to have constructive conversations about money and set healthy examples for young kids as early as possible. For instance, Kevin suggests setting up three jars for your children or usin...
Jan 31, 2023•12 min•Season 1Ep. 20
On this episode of The Financial Commute, Chris Galeski is joined by Wealth Planner and estate attorney Brian Standing to discuss Secure Act 2.0. For those who are 64 to 72 as of 2023, the age to start taking RMDs (required minimum distributions) will increase to 73 in 2023 and 75 in 2033. The penalty for failing to take an RMD has been reduced from 50% to 25%; if it was not intentional and is corrected in a timely manner, the penalty decreases to 10%. The Act also included changes to education ...
Jan 24, 2023•18 min•Season 1Ep. 19
On today’s episode of The Financial Commute, we welcome Rajeev Das, a manager of SPACs (special purpose acquisition companies). A SPAC’s sole purpose is to facilitate a merger or a business combination between the SPAC and a privately owned enterprise to help that enterprise go public. SPACs do this by issuing units to the public. Proceeds are placed in a trust account and invested in short-term U.S. Treasury bonds. Then, the SPACs team looks for a business combination within 18–24 months. If th...
Jan 17, 2023•16 min•Season 1Ep. 18
On this week’s episode of The Financial Commute, host Chris Galeski welcomes Todd Williams, Chief Investment Officer at Grubb Properties. Grubb focuses on investing in multi-family real estate and has $2 billion in assets. Bob Grubb, founder of Grubb Properties, provided not-for-profit financing to people who were affected by redlining, a discriminatory practice in which services (financial or otherwise) are withheld from certain residents based on race. Since then, Grubb has evolved into a mult...
Jan 10, 2023•19 min•Season 1Ep. 17
On this week’s episode of The Financial Commute, host Chris Galeski welcomes Meghan Pinchuk, Chief Investment Officer at Morton Wealth. Meghan says she is pleased with the overall resilience of illiquid assets in the face of last year’s volatile market. For most clients, Meghan recommends having at least some part of their portfolio in illiquid assets. Financial planning may help determine which level of illiquidity is appropriate for a client based on their specific situation and needs. Chris a...
Jan 03, 2023•15 min•Season 1Ep. 16
On today’s episode of The Financial Commute , Chris Galeski welcomes back Jeff Sarti, CEO of Morton Wealth. They reflect on 2022, the fascinating changes this year has brought and what the future may hold. One area that has experienced major change this year has been the bond space. Bonds normally perform relatively well compared to stocks but experienced their worst year in a century in 2022 due to higher interest rates and the speed at which the Federal Reserve has raised them; however, becaus...
Dec 27, 2022•16 min
On today’s episode of The Financial Commute, Chris welcomes Nik Bhatia, USC finance professor, author of Layered Money , and creator of The Bitcoin Layer , a market research newsletter. Nik’s mission is to make education about bitcoin accessible to all. Nik says there should be more regulations and insurance mechanisms to help crypto investors safely store their assets. According to Nik, this is what FTX lacked. However, although their failure may have cast a negative light on cryptocurrency, Ni...
Dec 20, 2022•24 min•Season 1Ep. 14
On today’s episode of The Financial Commute, host Chris Galeski welcomes Portfolio Management Analyst Hunter Daniel to discuss fixed-income securities. Hunter starts by talking about his path to Morton and how his prior experience helped him discover his interest in portfolio management. Hunter joined Morton Wealth in 2022 and plays a critical role on Morton’s research and investment teams. Hunter talks about the fixed-income selection process at Morton and how the importance of cash yield plays...
Dec 13, 2022•16 min•Season 1Ep. 13
On this week’s episode of The Financial Commute, host Chris Galeski welcomes Wealth Advisor Priscilla Brehm. They discuss important questions we should ask ourselves as the year ends: Do I feel better off now than last year? Do I feel more or less secure? Why? Priscilla says it would be completely normal for investors to feel an increasing sense of apprehension with the volatile state of the markets this year. She advises listeners to talk with an advisor about their individual financial plans a...
Dec 06, 2022•17 min•Season 1Ep. 12
On this episode of The Financial Commute, Chris Galeski invites Wealth Advisor Bryce Snell to discuss how the current high-interest-rate environment may give investors certain opportunities they couldn’t have had in the past 15 years due to zero-interest-rate policy. Currently, the money market offers a 3% rate, and a six-month Treasury Bill is close to 4.5%, so there is a decently high return on a relatively short-term investment. Bryce encourages listeners to consider the risk associated with ...
Nov 29, 2022•12 min•Season 1Ep. 11
On today’s episode of The Financial Commute, Chris Galeski invites Wealth Advisor Patrice Bening to discuss the car market, subprime auto loans, and the volatility of cryptocurrency. Patrice says because of the car chip shortage, the demand for cars has outweighed supply, thus increasing prices. As the Fed continues to hike up interest rates, some used car loans have gone up to 10% APR. Some borrowers may not have stable credit or the ability to pay these high-interest loans back, causing some t...
Nov 22, 2022•9 min•Season 1Ep. 10
Host Chris Galeski welcomes Wealth Advisor Mike Rudow back to The Financial Commute for an episode about cryptocurrency. Having a zero-interest-rate policy since 2009 has created asset bubbles in places like cryptocurrency. Crypto is often considered an “alternative investment,” but Chris and Mike disagree. Alternatives are uncorrelated assets that have true potential and backing, like healthcare royalties linked to FDA-approved drugs and real estate lending. Crypto is more speculative and may n...
Nov 15, 2022•11 min•Season 1Ep. 9
Today, Chris invites Wealth Advisor Bruce Tyson to The Financial Commute. Bruce brings over 40 years of experience in the financial services industry. He says many investors are fearful because the stock and bond market dropped significantly this year and are under the impression that it will only worsen; however, Bruce thinks the markets will inevitably recover like every other economic downturn he has witnessed. Bruce says the Federal Reserve wants to show strength by hiking up interest rates ...
Nov 08, 2022•18 min•Season 1Ep. 8
Wealth Advisor Jon Wingent returns to The Financial Commute to discuss the recent reshuffling of UK prime ministers as well as the British economy and politics. Liz Truss’s proposed unfunded tax cuts caused people to worry that the government would lose huge amounts of tax revenue, which would result in borrowing and thereby heighten interest rates. Therefore, the bond markets dropped and caused pension funds and investment companies to suffer huge losses. Furthermore, the pound fell to its lowe...
Nov 01, 2022•23 min
On today’s episode of The Financial Commute , Chris Galeski is joined by David Sifford, Managing Director of Social Infrastructure at Ecofin. Ecofin is a sustainable investment firm that unites ecology and finance; they invest in education, climate impact, healthcare, senior living, waste transition, and other sustainable/social incentives. David says many of the fields they invest in can be difficult to understand; for example, loans to charter schools can be complicated. Ecofin benefits its cl...
Oct 24, 2022•12 min•Season 2Ep. 6
On today’s episode of The Financial Commute , Chris Galeski is joined by Jon Wingent, Wealth Advisor at Morton Wealth. They discuss the natural home-country bias and why investing in international companies is crucial for diversification. Because of mere exposure, investors from the UK may be more inclined to invest in UK companies because they are familiar with their products. However, Wingent says global diversification within asset classes is important as it adds an extra layer of balance and...
Oct 18, 2022•9 min
On today’s episode of The Financial Commute , Chris Galeski welcomes Chief Operating Officer and Chief Marketing Officer of Morton Wealth, Stacey McKinnon. Stacey and Chris discuss their shared passion for financial planning and giving clients the confidence to make the best decisions for themselves and their families. However, Stacey has noticed that many people are hesitant to create financial plans since they may be associated with strict rules and limitations. She encourages clients to focus...
Oct 11, 2022•11 min•Season 1Ep. 4
On today’s episode of The Financial Commute , Chris Galeski is joined by Sasan Faiz, Managing Director of Investments at Morton Wealth. They discuss the importance of investing in international companies and being aware of the home-country bias many investors may have. The years from 2000–2010 are commonly referred to as the “lost decade” for U.S. stocks, where the S&P 500 lost over 9% for an annualized return of less than 1% per year. This era marked the aftermath of the dot-com bubble and ...
Oct 04, 2022•12 min•Season 1Ep. 3
Host Chris Galeski is joined by the CEO of Morton Wealth, Jeff Sarti, to demystify alternative investments. Jeff discusses the law of familiarity, which suggests being exposed to something frequently may breed comfort. Because stocks and bonds occupy most of the conversation when it comes to investing, people tend to be more comfortable with traditional investments and may not question them as much—when in reality, they may be harder to value than alternatives. Huge companies like Apple are more...
Sep 29, 2022•15 min•Season 1Ep. 2
“People should understand how a recession is going to impact them personally: Is your job at risk? What is a high-inflation environment going to do to your expenditures? How is your commute to work? Can you carpool? Plan accordingly.” — Mike Rudow, Wealth Advisor Welcome to The Financial Commute , where Wealth Advisor Chris Galeski gives you the rundown on what’s going on in the financial world, how it affects you, and what to do about it. Today, he welcomes fellow advisor Mike Rudow to discuss ...
Sep 27, 2022•22 min•Season 1Ep. 1
