THE FINANCIAL COMMUTE

On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Patrice Bening to discuss tax efficient strategies.  Retirement accounts: Patrice reminds listeners to maximize retirement accounts like a 401(k) or 403(b) to optimize tax-deferred growth. Chris says when one is younger and does not have the professional success yet to pay more in taxes and has more time to invest,...

On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski and Wealth Advisor Mike Rudow share their takes on some points in a CNBC article about financial “rules” people should abide by. Firstly, the article suggests readers avoid taking on debt for college. However, Mike says sometimes, taking on debt is the only route students can take. This is okay if the student is responsible and has th...

On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director of Investments Sasan Faiz to discuss trends and headlines that have set the landscape for the first half of 2023.   Although there have been slowdowns in some areas of the economy, the S&P 500 is up almost 17% for the year. However, Sasan says the S&P’s growth is not as steep as it looks and is mostly du...

On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Rich Gammill, Managing Partner of Proterra Investment Partners, an alternative investment firm focused on private equity investments in the natural resource sectors of agriculture, food, metals, and mining.  Proterra originated in the food and agricultural space under Cargill. After splitting from Cargill, they partnered with...

On this week’s episode of THE FINANCIAL COMMUTE, Scott Taylor, CEO of Artes Capital, joins Chris Galeski to discuss private lending and real estate.  Many clients wonder why someone (who is qualified to borrow from a bank) would use a private lender when the interest rate is lower at banks. Sometimes, the time it takes to secure a loan from a bank is the same or more than the time it takes to buil...

On today’s episode of THE FINANCIAL COMMUTE , host Chris Galeski welcomes Justin Mitchell, Founder of Realworld Asset Group, to discuss investment opportunities in real estate.  Firstly, Justin and Chris review SB 9, an act that was passed in efforts to improve housing supply issues and affordability in California. This act allows homeowners to create up to four homes on an existing parcel. Theref...

On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director of Investments Sasan Faiz to discuss current trends and investment opportunities.  Sasan believes there are many growth opportunities in credit and there may be higher return in credit than equities. Even though the stock market is up nine percent, only a handful of companies are driving the market upwards like...

On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Kevin Rex to discuss how time has decreased the value of money.  Chris and Kevin agree that many products and services have gotten much more expensive over the years. For example, food and real estate have generally increased in price over time- and the best way to combat inflation is to invest with a long-term min...

On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Beau Wirick to discuss our new service offering, Modearn.  Beau says while ultra-high-net-worth clients are the typical demographic served by wealth management firms, the financial services industry is overlooking a crucial segment of prospects: NextGen individuals who are still building their wealth, careers, a...

On this episode of THE FINANCIAL COMMUTE , host Chris Galeski and Chief Investment Officer Meghan Pinchuk discuss the debt ceiling. What is the debt ceiling? It is a legislative limit on the amount of national debt the United States government can incur. The government hit the debt ceiling of $31.4 trillion in January, but the Treasury Department provided the government with more cash while it fig...

On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Chief Compliance Officer Menachem Striks to discuss cybersecurity, how we protect our clients’ information and how you can defend yourself. Menachem says we constantly keep our networks and systems updated. We work closely with a third-party partner to run diagnostic tests, keep an eye out for suspicious activity and solve tec...

On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes back CEO of Morton Wealth, Jeff Sarti. They discuss recent bank runs as First Republic failed early last week, and PacWest confirmed last Thursday that it is exploring “strategic options” after its share price fell more than 50%.  Jeff says banks have a fundamentally flawed business model as depositors can leave at any time....

On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Partner of Keyes Real Estate, Brad Keyes, to discuss the real estate market in Los Angeles in the wake of heightened interest rates and the Measure ULA tax.  Brad says residential real estate in Los Angeles is resilient because there is a shortage of inventory, this city is affluent, and people are coming to terms with t...

On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Planner and Estate Attorney Brian Standing to discuss the Measure ULA tax that went into effect for the City of Los Angeles on April 1, 2023. This new law has increased tax from 1% to 4% on the sale of any real estate in the City of LA that is at least $5 million in gross value. If the property sells for over $10 millio...

Host Chris Galeski invites Client Manager Thao Truong to THE FINANCIAL COMMUTE. They discuss aging in place, which refers to aging in one’s home instead of moving to another facility like an assisted living residence. Thao is a part of Herself, a group within Morton that strives to empower women to make the best decisions for themselves and their families while educating them about finance.  Thao...

On today’s episode of THE FINANCIAL COMMUTE , host Chris Galeski invites Wealth Advisor Joe Seetoo to discuss how business owners can optimize their organizations and protect their enterprises amidst the banking crisis.  Joe says business owners should understand their company will have more value if it is “transferable” rather than a “lifestyle business.” A lifestyle business is one where the bus...

On this episode of THE FINANCIAL COMMUTE , host Chris Galeski welcomes Michael Klein, CEO of Freedom Financial Funds, a real estate lending fund.  Freedom Financial focuses on lending to real estate professionals who add value to real estate projects on the west coast of the United States. For example, some borrowers are professionals who flip vacant office buildings into apartment complexes. Over...

On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Portfolio Management Analyst Hunter Daniel to discuss ways to protect your money in the wake of recent bank runs and bailouts. According to Hunter, the risk around the banking system today is much less than 2008 because the default rate on the mortgage rate is not as high as it was before the Great Recession. There are also more...

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. • Det...

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 state...

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 back...

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 shel...

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 aft...

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...

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 kid...