Your Best Financial Life

Today’s guest is actually a co-worker of mine at Cordant Wealth, Financial Advisor Scott Gerlach. I’m really happy to be introducing him to you today, and we will be covering the topic of fiduciaries. I get a lot of questions about this, such as: What does it mean to be a fiduciary? Is Cordant Wealth a fiduciary? What is the importance of a fiduciary? Scott grew up in Visalia, CA, which is a big agricultural area in Central California, attended school at the University of Oregon, where he received his degree, then moved back to San Francisco before deciding to settle in the Portland area. He has the perspective of both the agricultural scene in America, as well as the hustle and bustle of a large city like San Francisco. As if that juxtaposition weren’t enough, he can add another unique one: Scott was a middle linebacker in high school and a competitive tennis player.   Show Highlights:   There are two standards in the financial services industry that an advisor is held to: The suitability standard - whateve

A question that often comes up when talking to people that are approaching retirement is “What do I do next, and how do I evaluate the opportunities that become available to me upon retirement or the transitioning out of a role in a big corporation”? Today’s guest, John Tortorici, is going to help field these questions, and more. We’re going to learn how he evaluates opportunities and how he would recommend selecting a non-profit that meshes with your experience and the type of work you like to do. Passion is what drives him. As a father and grandfather, he loves kids and finds it heartening to see them learn and grow. He’s retired 5 times, then made a move into something else that sparked his interest and his desire to see kids succeed. John Tortorici is Chair of the Board of Directors at TechStart, a non-profit in Oregon that is dedicated to providing teacher training and student enrichment in the fields of engineering, information technology, and computer science. He is on the advisory boards for Portland

This week’s episode is an extension of a recent interview with Beth Giles, a professional organizer. Today’s guest, Stephanie Malbasa is an estate planning attorney with special insight on what it looks like behind the scenes of downsizing, having recently gone through the process herself. She shares her approach to dealing with the difficulties of letting go of keepsakes, traditions, and memories that are intertwined with your current home and how to embrace a new mindset on life. Along with this, she talks about the before, during, and after progression that happens during this transitional process. Join Scott Malbasa in this interview to learn more about how to navigate downsizing.    Show Highlights:  Recognizing a downsize needs to happen and the logistics of downsizing  Being selective about what you keep and what you get rid of  Fluctuating with the times and letting go of things that aren’t cohesive with modern time Acknowledging when it’s time to pass on responsibilities and embracing your family  D

Chances are, you or somebody you know, have been offered a separation package from an employer. Today, Scott shares with us “Rob’s” story. Rob was around age 60 and planned to retire at age 65 when his long-term employer offered him an attractive separation package that would equate to about 2 and 1/2 years salary, a bonus, plus a year of paid health care. Some of Rob’s concerns were getting his children through college without acquiring debt and maintaining his and his wife’s current lifestyle. Scott walks us through the objectives that need to be considered, accounting of balance sheets, reflecting on liabilities, and the probability analysis. He also goes into detail about the baseline plan: which is, what do the next 5 years look like if Rob were to take this offer? Scott analyzes the success or failure of Rob’s plan. Follow along to find out Rob’s decision! Show Highlights:  Considering objectives: Getting children through college, maintain the current lifestyle, etc. Having a detailed cash flow in plac

Nurturing a small business to maximize its potential while dodging the risks, plus preparing a business for an exit when a business founder wants out are the topics on today’s podcast.  You will meet Jeff Kadlic, who started his career in commercial lending, then moved into institutional investing. During his time in the investment sector, he was exposed to private equity funds. He kept seeing smaller successful companies that didn’t have access to capital but were overlooked by the larger investors. Today, Jeff is an advocate for small business owners, and his company, Evolution Capital Partners, dedicates itself exclusively to this market. There is lots to learn in this episode! Take a listen as Scott and Jeff chat. Show Highlights:  Farming system for “the big leagues” Target: small businesses with 500k - 3mil operating profit Professionalizing great small businesses to make them attractive to institutional buyers Maximizing potential Fundamentals of accurate and timely financial reporting Fundamentals of

It’s human nature to desire stability in our lives, but we often have to overcome that drive for security to achieve our goals. Today’s guest, Bob Paskins, is a successful speaker and sales consultant, but it wasn’t always that way. Over the past year, Bob found the courage to transition from being a commercial insurance salesman to follow his passion. Bob talks about the fears he had to overcome in order to make this leap and the perspective shifts that he had to adopt. To hear more about Bob’s story, join Scott Malbasa in this interview.  Show Highlights:  How Bob helps people with his specific sales growth matrix program and what the program consists of  The most prominent aspects of Bob’s career and what drew him to it  The enjoyable facets of selling insurance Helping people reach their goals and getting them engaged in the process  Selling based on relationship and providing opportunities for clients Finding what makes you thrive Shifting your priorities to live out your dream  Determining whether or n

Incorporating philanthropy into your finances isn’t a requirement, but it is fulfilling and easily achievable if you happen to be charitably inclined. Today's guest, Bill Hawke, has been a financial planner for over 38 years and actively encourages practicing philanthropy. Bill shares his top strategies to get involved in giving and how to incorporate philanthropy into your family practices. To learn more about how you can charitably give and still live according to your goals, tune into this episode of Your Best Financial Life.  Show Highlights:  What Bill does and how he fell into his career  What a donor advised fund is and how it works  Instilling philanthropic ideals from childhood   Making incremental contributions over time  Transitioning from running a boys’ home to becoming a financial planner  Helping others find satisfaction and happiness in their lives  Reconciling different aspects of life to fulfill all of your goals Getting people involved in giving by asking the right questions  Helping chari

Real estate is a diverse market that is much more complex than commonly perceived. In today’s interview with John Swagerty, Senior Vice President at Acadia Realty Trust, Scott and John dissect what goes into evaluating a property and a potential real estate investment. John covers different dynamics of the industry and uncovers focal points of the behind-the-scenes mechanics. To learn more about real estate investments and the perspective shift that’s occurred in the market tune into this episode of Your Best Financial Life with Scott Malbasa.  Show Highlights:  How John got involved in real estate and what drew him to it  The math and numbers that go into real estate  How real estate has transitioned over the years and the perspective shift  The central focus when evaluating assets and properties  The day-to-day ins-and-outs of real estate investing The difference between stable and value add investments  What needs to be considered in a small vs. large property  Evaluating the busy-ness of the market  Crea

A home is one of the biggest purchases you’ll make in your lifetime, so why do people know so little about it? Todays’ guest, Kim Bean, has been a mortgage loan officer for decades and has seen the ups, downs, and behind the scenes of the industry.  Today, Kim shares tips on things like how to improve your credit score, analyzes options to consider when looking at your mortgage, and offers advice on how to go about your own process. To learn how you can apply these insightful tricks to your own financial life tune into this episode of Your Best Financial Life with Scott Malbasa. Show Highlights:  What Kim does and how she got into the business  Different hats mortgage loan officers wear  Being on a team with underwriters and mapping out the process  Making deals make sense and supporting that  How things differed before and after 2008   The process clients go through for a mortgage  Tips for raising your credit score  The “what if” scenario  Keeping up with your history of past credit  Going through the proc

Retirement doesn’t have to mean stagnation or mark the end of pursuing dreams. In fact, many people aspire and start up their own personal businesses after retirement. One notable person who successfully began her own business after retirement is Kim Netting.   Kim Netting noticed a lack of products that targeted people with allergens, specifically gluten intolerance, and started up a company producing ice cream sandwiches to satisfy those customers. In today’s conversation, Kim talks about what inspired her, the most rewarding elements of starting a business, and what the process of building a business looks like. To hear more about the behind the scenes of creating a business after retirement tune into this episode of Your Best Financial Life with your host, Scott Malbasa.    Show Highlights:    Where Kim started in her career and what motivated her to move forward  What inspired Kim to start her own personal business  How Kim went about creating her product  Getting her own commercial kitchen to avoid cro

Everyone wants to be more organized in life, and most need to downsize their belongings along the journey. Today’s guest will help you with these goals. Beth Giles is the Professional Organizer/Senior Move Manager at NW Organizing Solutions, LLC. Beth works with people and their possessions and their systems of life - helping them to flow more smoothly. Often people wait too long to organize their lives and they become overwhelmed. Join us and learn how we can keep our lives organized and we’ve got some great tools to share with you too!   Show Highlights:  Background on Beth’s company and what it does for people What systems of life are What drew Beth to this line of work How each person thinks differently and 9 things Beth has each person organize to get a feel how they organize Home downsizing and why it can be an issue for so many people Why organizing/downsizing can be so hard for some people Example of final goals in this industry How to go through old pictures The wonderful feeling after downsizing Wh

We all want to be financially educated and invest in companies we believe will be the most impactful in regards to what we believe in, all while reaching our financial goals. In order to do this, it’s vital for you to reach out to a knowledgeable financial advisor and to set realistic financial goals. Today’s guest, Apollo Lupescu, is the Vice President and “secretary of explaining stuff” at Dimensional (the 7th largest mutual fund company). He talks about how to determine which companies to invest in, how to evaluate funds, and gives helpful tips on building financial competence. Tune into this episode of Your Best Financial Life with Scott Malbasa to start making better and smarter financial decisions.  Show Highlights:  Distilling concepts without jeopardizing their complexity  Financial competence  Equity and buying ownership in public companies  How to evaluate whether you’re on or off track  Why the MPR and the yardstick is pushed  How people should benchmark  Being on track with financial goals  Under

Preparing for retirement doesn’t have to be difficult or overwhelming. Professional investment advisors are trained to help assist with each individual case and to help you make the most beneficial financial decisions.  One of these professionals is Michelle Kohlbush, who has over 23 years of accounting experience and has expertise proven to help you financially prepare for your future. Tune into this episode of Your Best Financial Life with Scott Malbasa to learn about the best tax planning opportunities for you.  Show Highlights:  Benefits of working at a smaller firm  Maintaining growth and retaining a hands-on approach  Best tax opportunities  Benefits of charitable contributions  Advantages of a qualified contribution versus a donor advised fund  Working closely with investment advisors  The biggest impact tax changes have made  Holes that need to be fixed in tax codes Fee deductions  States with income tax  Pit falls when going into retirement  Factors to consider when budgeting for retirement  Tapping

We all have questions when it comes to planning for our future and how to implement the best plan of action when it comes to setting a legal plan in place. When it comes to finances the majority of us have an overwhelming amount of questions and anxiety, which is why it is highly suggested you consult an estate attorney when putting a will or trust-fund in place.  In this interview, Melanie Marmion, an estate planning attorney in partnership with the law firm of Fitzwater, Meyer, Hollis, and Marmion, will discuss some of the most commonly misunderstood aspects of implementing a will or trust-fund - such as how to decided which document would be more beneficial in specific cases, whether or not you should consult an attorney or use online software, and how to minimize taxes on your trust-fund.  Tune into this episode of Your Best Financial Life with your host, Scott Malbasa, to take the next step in your estate planning process.   Show Highlights: How to get involved in estate planning  Doing personal financi

Working in the financial industry, I get asked a lot of questions about money everywhere I go. No one is immune from the stress that money creates in our lives. We all have questions that keep us up at night, and I want to bring you answers to those questions! Today, you'll learn why I decided to start this show and how I hope it can impact your life. Resources: www.cordantwealth.com