On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Financial Planning Manager Brittany Yudkowsky to discuss Social Security, acknowledging its relevance due to heightened public interest during an election year. Here are some key takeaways from their conversation: - Many Americans fear Social Security may not be available in the future, thereby considering taking benefits early. - They examine taking Social Security early, including reduced benefits and penalties for ear...
May 20, 2024•12 min•Season 1Ep. 86
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Jeff Sarti, CEO of Morton Wealth, to discuss Warren Buffett’s sale of Apple shares. Here are some key takeaways from this conversation: - Warren Buffett recently sold about 100 million shares of Apple, significantly reducing Berkshire Hathaway’s holdings from $174 billion to $135 billion. - The sale was attributed to Buffett’s strategy to capitalize on currently low corporate tax rates. - Chris and Jeff agree that many investo...
May 14, 2024•14 min•Season 1Ep. 85
In this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Mikey Taylor, President of Commune Capital, to discuss California real estate. Here are some key takeaways from their conversation: - Mikey discusses the difficulties of real estate development in California due to heavy regulation and entitlement challenges but points out that these barriers create less competition and more opportunities for growth in property values. - They highlight the housing crisis in California, ...
May 06, 2024•15 min•Season 1Ep. 84
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Beau Wirick to discuss the potential dangers of following generic financial advice on the Internet. Here are some key takeaways from their conversation: - Beau stresses that financial advice online cannot be personalized the way a financial advisor can tailor their guidance to your individual situation and needs. - Many social media wealth “gurus” make content about financial decisions that can significant...
Apr 30, 2024•19 min•Season 1Ep. 83
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Chief Investment Officer Meghan Pinchuk to discuss geopolitical tensions and how investors can protect their portfolios amid market uncertainty. Here are some key takeaways from their conversation: - The global environment has become increasingly complex with the geopolitical unrest between Israel and Iran, alongside rising inflation and higher interest rates. - Meghan advises against making impulsive investment decision...
Apr 23, 2024•13 min•Season 1Ep. 82
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Wealth Advisor Mike Rudow to discuss his article, "Pitfalls of Selling a Business Without a Plan ." Here are some key takeaways from their conversation: - Selling a business without a structured plan can lead to serious financial and personal repercussions. - It is extremely important to ensure the business is valued correctly, and a professional transition team is hired, so the owner’s needs are met post-exit. - Proper...
Apr 16, 2024•19 min•Season 1Ep. 81
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Wealth Advisor Patrice Bening to discuss current market issues and the unique value of gold. Some topics they highlighted… - Amid conflicting market signals, gold remains a store of long-term value. Even after a century, a gold bar is still worth the price of the average American home. - Potential issues with our current financial system include heavy reliance on credit expansion and the balancing act of managing intere...
Apr 09, 2024•12 min•Season 1Ep. 80
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Justin Pizzola, co-CEO of Greyhawk Insurance, to discuss homeowner’s insurance coverage. Here are the key takeaways covered in their conversation - Flood insurance can be very complex, as internal water damage is generally covered but external water intrusion is not typically covered without specific insurance. - While insurance typically covers accidental water discharge, it does not cover wear or tear or aging infrast...
Apr 02, 2024•19 min•Season 1Ep. 79
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski and Wealth Advisor Beau Wirick discuss the recent policy changes around realtor commissions due to the National Association of Realtors’ settlement and how they may affect the market. · Three key changes are highlighted: Listing agents are now banned from offering co-fee sharing with the buyer’s agent Buyers are now required to pre-negotiate agent fees Realtors are now prohibited from insisting sellers offer compensation to coop...
Mar 26, 2024•13 min•Season 1Ep. 78
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Estate Planning Attorney Brian Standing to discuss upcoming estate tax law changes and how they may affect you. - The estate tax exemption as of today is $13.6 million per individual, meaning estates valued over this amount are subject to estate tax. This amount is expected to be cut in half to about $7 million at the end of 2025. - Using entities like Family Limited Partnerships (FLPs) or Limited Liability Companies (L...
Mar 19, 2024•27 min•Season 1Ep. 77
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Chief Investment Officer Meghan Pinchuk to discuss recent headlines and the overall economic landscape. They highlight topics like: -Recent banking sector issues, with a focus on New York Community Bank’s struggles -The Federal Reserve’s potential interest rate cuts -Market volatility, including the impact of geopolitical tensions like the war in Ukraine -How investors can balance between risk and opportunity, and the ri...
Mar 12, 2024•12 min•Season 1Ep. 76
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Patrice Bening to discuss eight tax-saving strategies. 1. Health Savings Accounts (HSAs) are highlighted as a triple benefit tax-saving strategy, allowing pre-tax contributions, tax-free growth for medical expenses, and tax-free withdrawals for those expenses 2. Retirement contributions to plans like 401(k)s and IRAs are recommended for tax savings. 3. Marriage can offer tax benefits by providing access to...
Mar 08, 2024•13 min•Season 1Ep. 75
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Joe Seetoo to discuss the recent rise in NVIDIA's stock price, including topics like: - how NVIDIA's groundbreaking work in AI has contributed to their stock valuation - competition from AMD, Intel, and potential threats from startups and cloud providers - whether NVIDIA’s current valuation at $800 a share is justified or if its success will burst like BlackBerry - how quickly technology evolves and how th...
Feb 27, 2024•14 min•Season 1Ep. 74
In this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Priscilla Brehm to discuss the differences between brokerage firms and RIAs (Registered Investment Advisors). Priscilla and Chris encourage listeners to understand how compensation works when choosing between an RIA and brokerage firms, as brokerages often compensate their advisors based on transactions, which can lead to potential conflicts of interest. On the other hand, RIAs are generally compensated through a fee structure,...
Feb 20, 2024•19 min•Season 1Ep. 73
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Patrice Bening to examine the stock market, the economy’s resilience, and last year’s banking crisis that may potentially resurface. They discuss the exposure of small and mid-sized banks to commercial real estate loans. With interest rates on the rise, these banks face increased risk as loans come due and need refinancing. Given the tightening credit guidelines, there is a looming threat of liquidity issues, whi...
Feb 13, 2024•15 min•Season 1Ep. 72
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites CEO Jeff Sarti to discuss building a resilient investment portfolio and what “resilience” means. Jeff and Chris define resilience as an investment’s capability to withstand a variety of unforeseen scenarios without significant loss. Although uncertainty is inevitable, building a diversified portfolio can help investors navigate tumultuous circumstances. Private lending, specifically equipment lease financing, can be a so...
Feb 06, 2024•18 min•Season 1Ep. 71
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Kevin Rex to discuss different methods of investing in real estate. Although being a landlord is a popular way to invest in real estate, Kevin says it requires consistent effort to resolve maintenance issues and handle difficult tenants. If an investor is interested in a more passive strategy, REITs (real estate investment trusts) and private funds are options to consider. REITs are publicly traded equitie...
Jan 31, 2024•19 min•Season 1Ep. 70
On this week’s episode of THE FINANCIAL COMMUTE¸ host Chris Galeski welcomes COO and Wealth Advisor Stacey McKinnon to discuss liquidity. Illiquidity can be nerve-wracking due to the emotional bond people have with their money and the comfort that comes from having easy access to it. Stacey discusses conversations she has with clients about balancing liquid assets for immediate needs versus investing in long-term illiquid assets like businesses or real estate, which may offer better returns but ...
Jan 23, 2024•16 min•Season 1Ep. 69
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Chief Investment Officer Meghan Pinchuk to discuss Bitcoin ETFs that have recently been approved by the SEC (Securities and Exchange Commission). They discuss Bitcoin’s similarities to gold, particularly its role as a potential store of value as opposed to fiat currencies, while also noting Bitcoin’s relatively short history and high volatility compared to gold’s long-standing stability. Meghan and Chris also consider th...
Jan 16, 2024•12 min•Season 1Ep. 68
On this week’s episode of THE FINANCIAL COMMUTE, Wealth Advisor Joe Seetoo discusses Pender Capital’s investment strategy with CEO Cory Johnson at Morton’s 2023 Investor Symposium. Pender is a commercial real estate debt lender focusing on the lower middle market in secondary and tertiary markets, especially in Middle America. Cory talks about how the pandemic impacted various sectors and Pender’s strategic shift toward asset types like multifamily and industrial real estate, which showed resili...
Jan 08, 2024•22 min•Season 1Ep. 67
Happy New Year! On today’s episode of THE FINANCIAL COMMUTE , host Chris Galeski invites Chief Investment Officer Meghan Pinchuk to reflect on 2023 and discuss what this new year may bring. Due to the recent moderation in the inflation rate, markets responded positively, and the Fed announced they will cut interest rates in 2024. Meghan reminds listeners that just because the inflation rate has moderated, prices won’t necessarily come down- they will just increase at a slower pace. Meghan and Je...
Jan 02, 2024•13 min•Season 1Ep. 66
On this week’s episode of THE FINANCIAL COMMUTE, Wealth Advisor Bruce Tyson discusses Cliffwater’s investment strategy with Head of Capital Markets Fran Beyers. Cliffwater’s goal is to provide solid compounding returns in even tumultuous environments. Fran explains how direct lending may offer predictability, lower interest rate risk, and yield premium over public markets. Cliffwater is intentional and selective about the managers they choose and tend to lend to defensive sectors. Fran and Bruce...
Dec 21, 2023•21 min•Season 1Ep. 65
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Managing Director at Keystone National Group John Earl to our 2023 Investor Symposium stage. They discuss Keystone and their approach to lending and investments. Keystone is a private credit platform with a focus on asset value. They provide lending and leasing services to companies, family offices, and fund managers with a typical transaction size of $20 million to $50 million. Keystone tends to thrive in high interest rat...
Dec 19, 2023•22 min•Season 1Ep. 64
On today’s episode of THE FINANCIAL COMMUTE, Managing Director of Investments Sasan Faiz and Wealth Advisor Mike Rudow take the stage at our 2023 Investor Symposium to discuss artificial intelligence and its potential. Although the adoption of AI has been relatively effortless for individuals, it may not be so on a larger enterprise scale. This is because organizations may experience initial productivity dips and will have to teach their workforce new skills when integrating AI. AI will ultimate...
Dec 12, 2023•23 min•Season 1Ep. 63
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Bob Louzan, Managing Partner at WhiteHawk Capital Partners to the 2023 Investor Symposium stage. WhiteHawk specializes in lending to companies that cannot secure loans from traditional banks or capital providers. Because of this structure, WhiteHawk tends to perform well during economic downturns when organizations face difficulties accessing capital markets. Their primary focus is on the liquidation value of the assets...
Dec 05, 2023•22 min•Season 1Ep. 62
This week’s episode of THE FINANCIAL COMMUTE features a conversation on Bitcoin from Morton Wealth’s 2023 Investor Symposium led by host Chris Galeski, Wealth Planner Brian Standing and founder of The Bitcoin Layer Nik Bhatia. Nik is also a CFA® charterholder and teaches finance and business economics at USC. Nik explains that Bitcoin is both a software and a unit of account within the software. The unique innovation Bitcoin offers is that people can use and move these units without a central pa...
Nov 28, 2023•23 min•Season 1Ep. 61
In this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski and Wealth Advisor Jon Wingent discuss international living and the financial uncertainties often faced by expats. Many expats may have questions about whether their contributions in another country will count towards their U.S. Social Security benefits. The U.S. has Social Security treaties with many countries to prevent double taxation and ensure individuals receive the appropriate benefits. Systems can vary from one country t...
Nov 21, 2023•19 min•Season 1Ep. 60
In this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Wealth Advisor Kevin Rex to discuss wealth hacks and tax planning strategies. Some strategies they explore are Donor Advised Funds and Qualified Charitable Distributions. These methods can help individuals save on taxes while supporting philanthropic causes. Health Savings Accounts can also be advantageous as contributions made to an HSA are tax-deductible, funds within an HSA can be invested and growth is tax-free if u...
Nov 14, 2023•18 min•Season 1Ep. 59
In this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Wealth Advisor Bruce Tyson to discuss how the market has performed this past year, including bank failures, debt issues, government shutdowns, inflation, and interest rates. They dissect the common belief that the average annual return of the stock market over the long-term is around 9-10%. The market experiences fluctuations, sometimes delivering very positive and negative returns. Therefore, investors should not expec...
Nov 07, 2023•19 min•Season 1Ep. 58
In this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski and Wealth Advisor Mike Rudow discuss artificial intelligence and its potential impact on the financial industry/other fields. Mike emphasizes that AI is a large language model with access to data, which can be flawed due to inherent biases. Because it still has a long way to go in making totally accurate conclusions and analyses, it is not recommended to take financial advice from AI. However, Chris and Mike acknowledge the eff...
Oct 31, 2023•20 min•Season 1Ep. 57
