Skip to main content

Saving with Steve, 15/03/2022

Show Headline
Saving with Steve
Show Sub Headline
Guests, Ryan Majchrzak and Peter Klein

Saving with Steve with Steve Sexton

Guests, Ryan Majchrzak and Peter Klein

Saving with Steve

Show Host

The Save With Steve Show, hosted by Steve Sexton will help you with ins and outs of money. We talk about financial issues that that could be costing you thousands of dollars and keeping you up at night.

We talk about “money”… tax reduction, saving more, how to spending less and get more, 401k’s, risk management, retirement, and everything under the sun that relates to you having a healthier happier relationship with money.

Weekly Show
BBS Station 1
6:00 pm CT
6:55 pm CT
Show Transcript (automatic text 90% accurate)

everyone has their own unique views and needs when it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place welcome to the saving with Steve show hosted by Steve Sexton the show will help you with the ins and outs of money we talked about financial issues that could be costing you a thousands of dollars and keeping you up at night we talked about money tax reduction saving more spending less 401K risk management retirement and everything under the sun that relates to you having a healthier happy relationship with money now here is your host of saving with Steve Steve Sexton<br>everything in the Sun that really see you having a healthier happy relationship with money my name is Steve Sax in this is a saving with Steve show me I want to thank you for joining us during this with your friends and family we have well over $600,000 a year in the United States and you know what we are exceeding almost 100,000 and you're up so it continued to show continues to grow we're very thankful for all that today we're definitely talking about money we have Peter Klein is that he's a chief investment officer and founder of a line well Peter's going to discuss his book passion forgiving and the waters record many people don't know how they can invest in the water sector don't know anything about it Peter is going to educate us on them is a sector that is what you need to know as well as give us some idea of what we can expect for the markets in the future now we talking about how to create a budget and stick to it but next time there's a reality everybody sometime in their life will have to face it's the cost of a<br>assisted care or long-term care as one gets older has this would be for ourselves or the ones we love assisted living in other CG Arrangements cost thousands of dollars every single month and do not accept being your insurance or Medicare as a significant Health event is the number one wrist the retirees find him this is an area that most people don't think about until the time comes when they need it and the reality a lot of times that's just too late ladies and gentlemen we have Ryan my shock will be walking us through nine ways to help seniors family pay for senior living or see if they need it is also going to be talking to you about the dementia care education you know I know pretty much everybody in the line you know what your parents your grandparents that might be dealing with Dementia there's Educational Services and I've got Ryan here is going to be talking about a little bit later in the show welcome to the show thanks for doing this<br>thank you thank you for having me it's a pleasure to be here today but you know what this is a very important topic and I I just kind of want to set the stage cuz I work with people as a Financial Consultant and many times I see people and talk to me about this topic where they're being a little less now but more so in the past where they think he don't have I'm probably not going to need it or I've got a whole bunch of money can afford it and I like to say hey look you know what everybody has car insurance right you know everybody's got to drive to get car insurance but it's less likely you'll need that car insurance in a higher probability you'll need long-term care help Assisted Living help and quite frankly it's far more expensive so you know what this topic is near and dear to my heart because I seen people go through it I see people who don't plan for this and they're in a deer in the headlights making decisions than putting their feet<br>numbers that they love in the wrong location they don't know the questions to ask all those kind of good things now what you don't know about Ryan is Ryan he's the owner of Assisted Living locators in Bellaire are they offering no referral cost and placement service don't seniors and family but I find the best Assisted Living dementia care Independent Living care Ryan's also certified and you know Senor as a certified senior advisor and he's dementia care certified which enables them to service clients a lot better and makes him a great subject matter expert for this segment so I want to see a client with her. Clients are listeners which I love they always want to know why did Ryan get into doing the assisted living thing so how'd it had to get started on all that<br>yeah you know I have been I'm a licensed pharmacist actually I have been working as a pharmacist and a manager in Hospital Pharmacy over 13 years and you know what's multi-faceted I wanted to first you know get back to why I got into Healthcare and not course I love how my employees but I want to get back on a patient level in helping people and I also I've always wanted to own my own business and you know Two Worlds collided I found Assisted Living locators and I just got so excited about the opportunity to help seniors and families in my community and also to get more involved in my community so this was something that was kind of a no-brainer for me and I've been such a feeling we're going to be glad to be a part of it ever since so yeah<br>people who know some people do they they have a lot of money some people don't I find that some people look to ensure their tear some people Joan So what I'd like to do is kind of talk about you know what if you're in your mid-60s you're healthy you know what when's the real and I'm not using that as a problem but when's the time that somebody should be looking at hey you know what how do I plan for the future with my sister living needs when should I be looking at this<br>sure I mean of course it's never too early really in and you mentioned it kind of earlier that you know<br> a major health problem is the number one risk to any one finances in retirement or as a senior options available sooner the better long-term care insurance is probably the best way to invest in securing your future as something that can pay for your health care needs if you do have that one Health event that's never expected you never know what's going to happen and if you wait till that event occurs you're not likely to get the insurance or get the help you need<br> so that would be probably the best way to start early start when you're you know 30s 40s anytime and you know we have tons of ways to help families papers for assisted living other Senior Living options the first one is certainly you know the most straightforward the easiest and your savings or 401K so properly managing your money by working with a financial adviser to help your Investments and build your build your savings off so you have some money I kind of sitting beside and in case something does happen it's certainly against the most straightforward way to pay for assisted living or our senior living pensions you know a lot you know they don't see him too often anymore but we have a lot of the senior population was in the workforce of time the pensions were offered and that's another way similar to The Forum<br> okay and savings that people will get written to to to help pay for this they also have you no great benefits I seen I seen some seniors with wonderful benefits helping with pay for their health insurance medical spending accounts that they can use towards this<br> so you know those are those are the main ways which you can use the money you have and grow the money you have till right let me let me let me ask you this so when it comes to Assisted Living you know what there's a lot of people using health savings accounts because of the health insurance here in the United States is obviously cheaper okay because it has a higher deductible that you pay co-pays and all that stuff but if you have a health savings account and you're consistently contributing to that many people get to the point where there's significant dollars in there and they can invest it and it'll keep growing on a tax-free basis and if they use that for assisted living obviously do not text cuz it's for health stuff and you know what that's accepted for assisted living right<br> absolutely yes and I seen there's some people that<br> sorry they have you say use that word back or you know when your you do Medicare does not pay for assisted living that's one big mess like in Copper Assisted Living so you do need some 8 you know it is a cash for self-pay business so it if you it depends on the account sometimes but if you're mighty can't go directly to the Assisted Living, you're still going to have to pay for prescriptions co-pays for doctor's appointments you know if you use a lot of prescription you could get that that Medicare Gap where you have to pay to give it to money so they're still other things you can use that for to receive care in that setting I think they would look at as a qualified medical expenses but I actually do know and I'm asking the question so everybody could know as opposed to me to sing and you can say I do know that end in m many assisted living facilities they looked at his head as a as one of the care of a vehicle that he can use health savings account on<br> what I was thinking is you know what you talked about starting to save for this early if you have a self health savings account you're relatively healthy it makes sense to continue to contribute to it cuz you can build up the funds are almost tax-free so that when you're at when it's time for you to use this and you know what if you have a couple hundred thousand dollars in there are more it could go a long way when it comes to sister I don't want to say that cuz I like oh my gosh and like when it comes to Medicare basically if somebody's had a stroke okay is it be aware that confusion comes people go all your Medicare takes care of it but what they don't really realize is medicure don't they only take care of it for like 90 days cuz it looked at his training and Redevelopment or therapy and then after that it sits on you is that correct or am I wrong in that Medicare will cover up to 100 days per year and a Skilled Nursing Facility a rehab facility<br> I got clients that have hit that number and Medicare is not going to pay for it anymore and they still need that Rehabilitation so you know yes assistant living or In-Home Care is another way that you can get that care that you need for however many hours a day or 24 hours a day but they can also still bring in occupational therapy and physical therapy which can be billed to Medicare while you're in that setting up home care of a word or a facility it was you just said that Medicare will pay for a hundred days a year I just realized some of my clients don't realize that Medicare will do that and they've been paying the whole year by themselves and they could actually get a almost a third of the Year paid for Medicare people need to understand that because that's the way you could reduce your cost and make sure that you know that there's not as much spent there so that's wonderful thanks for bringing that out Ryan what's next<br> sure so I one question we ask all of our clients you know right away is is the senior a veteran or if they're the spouse the spouse of a veteran so the Department of Veterans Affairs has a great program called Aiden tendons that will help veterans and their spouses pay for assisted living so you know they have to have limited assets and at least have issues with two activities of daily living whether that's walking around taking medications feeding themselves bathing grooming but they can get a substantial amount per month to help them pay for assisted living of the veteran alone can get $2,500 a month on an aid and attendance money to go towards assisted living at the great thing to know and I actually know of people I won't give out their names because they didn't give me the authorization but there are a number of people who<br> work with those individuals that are right on the limit for that the assets that they have to help him put them in a situation where they would be able to qualify for the Aiden attendance cuz I seen this make a big difference for a lot of people in all somebody needs their dd2214 and they can pretty much go from there besides that in their assets so we can act whether they're out there to help you do the paperwork help you see if you qualify in what you need to do to qualify so yeah there are some great people out there to help with that too well one of the things I want to point out is this there are a number of people who will do that actually for freezes service and also people do it too and the bill charge it for $500 to do it or either way it makes a big difference cuz if you're doing it and navigating that that that that very involved process it could you take you six months or a year longer but having one of these peoples who know how to navigate the system could reduce that.<br> time and get you paid quicker so it's important to reach out to somebody this is the wrong time to do the do-it-yourself program so I'm just saying that from experience and I appreciate your bringing so the next one out yet we we touched on it briefly is long-term care insurance that you know we talked about that earlier is you know I've had some some families where you know mom and dad started paying for long-term care insurance back in the 60s and you know Mom had a stroke now she needs assisted living and she has a million-dollar long-term care insurance policy to help take her through the next several years to get her the care that she needs it will also do you know and she's not she doesn't want Assistant Living she's using it to pay for home care so you have to really look at the so many different Paula he's not out there they all can cover many different things you really have to choose something you know policy that that you like and and will help prepare you for the future but they are a great way to<br> no invest some money by paying premiums on insurance to get pretty much you know for most people it covers most if not all of their you know in home or assisted living in that's why you know what we're going to have to take a break everybody we're going to be right back with your standing is Steve so stick with us we have Ryan my shock he's talking about assisted living in the things the way you what you can do to save for it prepare for that event that eventually will happen in the future so stick with us where you right back with more savings more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the ins-and-outs of money was Financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton about the ins-and-outs of money I just want to make sure you know all the replays are available at standing with Steve. You asked if you're enjoying the stories about full information it inside I'm saving the Steve then I heard you two to chat with start that over again so I heard you to subscribe to your YouTube channel Spotify Google play so you never miss the show please check on the field or affiliate that UK help radio BBS radio talk radio in New York City e360 TV Las Vegas TV networks also your balls on Facebook and enjoying the same thing with Steve sex and insiders Club you can go to saving with Steve. You ask it replays exclusive guest gifts and so on now we're back here with Ryan<br> we've been talking about the nine things that you could use our nine ways that you can get that Ryan can help seniors and people I know can help seniors pay for Senior Living what are things that were just talking about his long-term care in Ryan you know what you're talking about getting long term care of the sixties I have a grandmother that actually got it in the 70s okay and she had this when she was 93 years old she asked me Steve it just went up $25 a year should I cancel this and I went no doubt if you ever need it'll pay off in Spades and just two years later I see three years later she had a stroke and it paid for the long-term care for 3 months to get a rehabilitated it paid for the Assisted Living care for the rest of her life and you know what it's still have like three or four years worth of benefits cuz I've been saving up for so long but I mean it was<br> it just paid off in Spades and you know what that that was just really really really cool I know that there's a lot of people who have long-term care policies long-term care policy in the state's a little bit different because of cost so it's important to take a look at that snout next will you almost made him you made a pretty perfect life insurance settlements there are people over 65 in the u.s. today have 35 or 35 million policies out there with a face value of greater than 3 trillion dollars now each year more than 500,000 seniors allow their life insurance policy to lapse whether that's because the premium went up they maybe they can't afford the premium anymore or they don't need the the death benefit anymore only only 1250 seniors actually take advantage of<br> so there are people out there you know if a life insurance policy is to is too expensive at the premium went off or you just don't want to pay it anymore or you need some extra cash to help pay for medical expenses there are people out there that will buy them for a handsome son you know they're all different it depends on the type of insurance the amount your insured but they will pay you cash for your life insurance policy they will continue to pay the premiums and no collect a death benefit but you can get the money you need now to help pay for senior living or whatever it is that's wonderful ride and I think it's important that but people also know that there's many providers out there and if you're going to do that there's a few factors one obviously the policy whether to turn Paul's your whole life policy one of the other factors might be what your life expectancy might be but you know what it's it's a wonderful option for people in a situation where they need money to cover for long-term care<br> hope you had a million-dollar policy and you know what you couldn't afford it anymore but they wrote a check for $300,000 and that $300,000 paid your assisted living in been some that would be a wonderful thing that got a many people do this so I'll walk you through it make sure you get the best rate and you know that's what they do for a living and they can help you go through a navigate that whole process and those are the kind of the people that we prefer our clients too as well as our people choose it to help pay for a senior living in that selling your home so whether you are a widowed senior or you're still a married couple and you are in need of extra care to move into assisted living in most cases no need to continue to pay a mortgage or pay utilities or pay for what all homeowners know it are the cost of being a homeowner<br> so put in your house up for sale collecting that income to help pay for that your needs are medical expenses assisted living is probably the most common option that that I see in this stand that people utilize tell Patty what other options do the next one the next to actually kind of go off of selling your home the first one is using the equity in your home also known as a bridge loan so if you plan to sell your home to help pay for assisted living or medical costs but you know you're not going to be able to sell it quickly enough and you need that money now you can look into what is called a bridge loan it may not be right for everyone but it's a loan from based on the equity you currently have in your home to get you some cash now to be able to pay your maybe the first few months of assisted living and then once you do sell your home you can usually pay off a bridge loan quickly and you still have the remainder to help pay for a dish<br> years of Assisted Living okay what's the next one reverse mortgage you know this may not be something for everyone this is something that I actually work with a client to do yet but similar to you know a bridge loan getting some alone based up from equity on your home in terms of how to pay for assisted living there's different types you definitely want to consult a professional if you are looking to do a reverse mortgage in order to get some extra cash but it you know there's there's different types of single-purpose one that will allow you to pay for a single item that you specified and worked out with the lender and that's usually for moderate to low-income families do maybe you know need a little extra cash in their proprietary reverse mortgages that can help those maybe with a little higher valued home to help them pay for other expenses whether it's medical expenses selling or<br> find a business those kind of things you know what is there is something called the Medicaid waiver that will allow seniors that qualify to be on the Medicaid waiver program and they will pay your bills for your assisted living is needed now I can take quite a while to get all that paperwork and get through that process and faxed it can take years and some states but there are there's also people out there to do that your local Departments of Aging or other senior advisors that can help you navigate that Medicaid process in elder law attorney those are the type of people that you can work with if you just don't have any assets are unable to pay are there still option down for you and there's there's just certain assisted living's that will accept that Medicaid Program but there's definitely plenty of them out there to help those people as well<br> who helped you know what let me add one too if you don't mind as somebody who works in the financial advice world on a regular basis you can you can actually buy certain whole life and life insurance policies will actually give a multiple for the long-term care so for example one of the ones that we set up for one of our clients you had like $100,000 in a savings account bo3 with a recommendation put it on on a rated insurance company first Guaranty was getting all of her money back so hundred thousand dollars here the second one was $75,000 a year for four years for the purpose of long-term care $300,000 benefit and that would go a long way in the third one is she didn't use it passed away $300,000 and all that is is a Whole Life program that has a long-term care benefit to it or writer to it so you know what the reason why I didn't stick with any names or anything like that because if you're in another state in United State pay talk to your financial advisor they can help you out because you know if you need<br> there's a lot of different ways you can do this if you do a little painting it'll be a lot easier for you because the reality if you think about it is ever saying a facilities about three years is that about right Ryan at least yeah I bet that's about right now I'm in the state of California average cost is $117,000 a year so you looking like 3 or $50,000 over three years and if you're over 65 in my studies show that you have a 70% probability so if you're not quite there yet it makes sense to look at you know what these different options at Ryan's talk about and start preparing for that because the likely it is pretty high that you you're going to need a ride one of the things we have here is I want you to talk about the dementia care education that your group is working on sure thank you yes Assisted Living locator has partnered with dementia care education and we are providing monthly live webinars on dementia topics so you know how to live with someone with dementia<br> nutritional series on proper things to eat and things to help with dementia there's live webinars you can Google and reach out to any Assisted Living locators advisor across the country you can also go to dementia dementia and you should be able to find those lecture series there as well they're free to anyone who needs them and anybody who is the certified senior advisor or dementia care certified can also get Ze credit towards their certification for a small fee so that's something we're promoting in its me to spread the word so we can all learn how to take care of our loved ones much better with Assisted Living locator spell are my email is Ryan M at Assisted Living locators. Calm if you need any services or any help questions please don't hesitate to reach<br> we could also go to assisted living and find one advisor near you that's wonderful Ryan I want to thank you for being part of the show today the information provided invaluable everybody listening because you know what they're probably going to be using it for themselves maybe their folks or somebody they love so thank you again for joining us and you have a wonderful day will see you this year on Satan was Steve that was Ryan my shocked he was just a world of Education to help people that you know what you get prepared for with the deadly going to happen which is Assisted Living long-term care and so on so you won't think you're doing this stick with this were to be right back with more saving was Steve more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevents you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where to be talking about the ins-and-outs of money those financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton LOL about the ins-and-outs of money pretty much everything under the sun that really so you having a healthier happy relationship with money today for the how to create a budget and stick to it you know what's keeping it but it's just not easy so I can work it out having that gold are the holeshot you know what you have a bad month get discouraged and give up or were you think you can keep your budget in your head and that's not quite good enough you might you might be able to but for most people that's not going to work the truth is a budget help you reach your goals and credit Battlefield anybody can Master it just takes a steep learning curve we want to give you some tools to Resource and strategies that you can set you up for 6. So let's start talking about it number one<br> you know what you make you were looking to make those big purchase you go I got to like that I love that you know what and it would make sense to sleep on it to think about this if it's not something you need to think is the purchase come with a payment plan like a Carlos will it mess with your budget will just throw off your savings how will this benefit your day-to-day life is a benefit worth the cost way to better this year to make sure the adding value your life not stressing your budget if after week you forgot about it it's a pretty good indicator you didn't really need it hey never spend more than you had getting into debt can be a vicious cycle it's tough to get out of you end up spending more than interested in seeing if you held off and saved up if you can't afford something you want put it off to the next week if you want to go on vacation plan for it's a regular so it doesn't throw off your budget eating Top Ramen for four or five months after a cool vacation is no way to live your best life<br> stick to lower credit card limits it's really interesting people hire credit card limit for a cup that make it hard from the pay down reduce the Temptation keep lower credit card limit and paid off most frequently is a good rule of thumb to stick to it now budget 20 you ever heard of this concept is a really cool and it helps people get track on savings you budget for everything I'm talking your food so you're going out your auto loans your credit card payments as well as you're saving you let me have one client that budgets 20 but he has three saving Avenues number one is he's saving for emergency number to for vacations number three for a home and the rest of them are there so what's happening is he's got his income and his expenses adding those extra saving so that totals zero in what you want when you budget is your you give every dollar you earn a job even if it job is staving or an extra loan payment you don't give yourself a bumper extra padding this is a radical ways you can<br> we control your finances budgeting 20 does it mean you spend every dollar you earn neither does it mean that you're stuck with your category for the month on the contrary it's a great method to start a savings program by working with your savings it's your budget and you keep the budget flexible so you can change with life's curveballs hey next try us spending fast it's something you know what is sometimes referred to as spending fries or whatever I just called a spinning fast okay it's time to come into a no spinning for anything that's not necessary again that anything that's not necessary you can do a no spinning challenge for week a month a whole year and might seem intense was a remarkably effective way to create a systematic process for the way you think it's shock your system that allows you to call your spending habits change your mindset around money to get started with your no spinning change by identifying the right qualifies as a necessity<br> and how long you're going to do it for make sure it's fun by adding friends and family to see you can save the most next stop paying fees I see people who have cable bills and on top of that they got Hulu Pride Netflix and those extra Little Caesar 5-10 $15 besides those Cable packages find a way to eliminate the ones you don't use in fact I seen many people was it made the Cable packages just have internet by who live or AT&T life and get one or two streaming service has most of them save her $100 a month speaking of Feasts look at your banking this is crazy people paying begging on a monthly basis for the account to get transaction fee consider switching to a free account there's many of them all you have to do is go online and just search free savings account free checking account and they might say Hey you have to have a minimum balance but you're good okay as long as you have a plan for your meals I have a<br> this client was going out to breakfast lunch and dinner three or four times a week plus twice on the weekend Wisconsin extra $1,200 a month you know what my planning is breakfast and eating it at home you bought courage Cox from Costco and take those Keurig cups and use them at the office so we didn't have to spend $3 on a cup of coffee and he started planning his lunch and dinners by doing so saved $900 a month you know you can do the same thing because I really didn't change my life in fact we've got better what was the bonus is he got healthier because he's planning his own meals next pay yourself first this is not a lot of people don't do this but pay yourself first on payday make sure you have money that goes into account that pays for bills like your checking account make sure you have money in your savings account so you're paying yourself to save so you can save it for the emergency fund that big cage or that retirement of the house okay we'll grow into a larger amount<br> only by their vacation pay for the Emergency fixes and so on or maybe even by your house either way by paying yourself first you're making sure that you put yourself in a place of importance there recognized its if anyone's deserve your hard-earned gaskets you compare those Brandon many people go shopping they do it all the time and they're buying this store name brand Why by the name and that the store by the store brands cuz they're less expensive next think about hey what about those pre-packaged items like that was always like to talk about this we save a ton of money that way we were buying a big pack of salad at 4 bucks you know 30-day month that's $120 if you buy the Romaine Spears<br> the fruit your knots are your cheese and a salad dressing you can end up spending $25 or $30 for the whole month is offensive 120 it's money you can have in your pocket you know the key here folks is this you want to connect your spending your work you work hard for your money but really when you spend money to people connected with the labor that he put into it and when you buy a pair of shoes at the hundred dollars if you make $125 an hour to queue for hours to buy those shoes so think about that before you do that so you can make sure you get value for your dollars that's it for this segment stick with us we'll be right back with Peter Kline he's going to talk about the passion for giving and he's going to be talking about the water that's been industry what you need to know what we're looking at moving for the future so stick with this will be right back with more shaving whiskey more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the ins-and-outs of money was Financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune into the saving with Steve show join me Steve sex and out of saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton where we talked about the ins-and-outs of money in this next segment were talking about money we have Peter Jay Kline is a chief investment officer and a line Wells Peter's here to discuss his book passion for giving the water sector and you're like at the Watershed driver heard that before but you know what many of you don't know that you can actually invest in a water heater is going to educate us on the market sector hotworx the ins and out and you don't either Financial guys are going to ask him what he thinks it was going to happen the markets it's been kind of Rocky lately especially the light that they keep talking about raising interest rates so that's always fun to hear kleinpeter welcome to the show I see that you're having me appreciate it really glad you're here let's see what does things I'd like to just tell a little a little bit about<br> is this you know what<br> Peter Scott is a Certified Financial Analyst chartered retirement planning specialist chartered advisory and philanthropy I mean he's written a couple books security analysis getting started and Alice has a passion for giving tools and inspiration for creating a charitable Foundation you know what<br> one of the one heck of a background outstanding subject matter expert that's why is here but here's the question Peter always like to ask this everybody cuz everybody behind the scenes don't hate why did he get into what he's doing so why did you tear it shows that chose a career path that you're in it was an accident and I was always a non-bio and Cameron and I did a Westinghouse Talent search award project and it was everything I was just a science geek and I I get wait-listed for a 6-year med program is 35 35 to 40 years ago and I couldn't believe it. My girl right so okay I'll let me take let me take one semester at a local University here on Long Island and and I will reply to the six-year Med program thank God I never did but I would knock out this<br> best United mule bio 101 chem 101 stuff that I loved it was an economics one I wanted and long story short the course the classes were so large in the science program that you couldn't I lost a love for the sign that lost the interaction with the professor it was one of these huge oratorium you can't even get into it a little bit though but I went to love with economics and quite the deadly my wife and four years later I graduated an economics degree and I'm on Wall Street so that's how I got into it I never forgot I never lost at Lowe's for research and Science and so part of the work that I do is is just acted robust in the area of research<br> that's wonderful I love this story I really like really like that but now I hate it in the technology field and did structure Design Systems and stuff like that I don't quite understand it but now she's like don't love it I'm going to be a museum curator and I'm going to go get my Master's and PhD be happy the big pivot they say right let's people know about investing what do people need to know about the water sector<br> well it's. It's fascinating group of companies and sectors so I got 15 years ago I was doing some basic research on the on the market in the market conditions I noticed that there was a bunch of companies I had never heard of before that were among the be 15 or 16 companies that were out that outperform the S&P 500 for the past 10 years about time and of course she had your typical company that you would expect to be on the list at that time the ones that were The Darlings of Wall Street at that point but then there was a segment 789 companies I never heard of before and I said to myself one of these I realize that these are<br> water companies utilities for the most part that I started getting deeper and then I noticed a number of infrastructure companies in testing company Steve you have a commodity substitutes for no matter what the price is you going to pay for it and it's becoming scarce 1/2 of 1 per cent of the world's water is actually drinkable and then of course you have sanitation issues and people without water so still alive to unpack there but the bottom line is you companies are I have the wind at their back and now with the infrastructure bill has just passed the United States a lot of really have out the wind at their backs so it just seems to me that until we find a replacement for all the water we need which were not going<br> like we do this is a segment that is going to continue to grow and I captured us<br> wow you know what when you when you get when you to look at Water you just saying okay is water I drink it you know what the old joke where they saying here's some water just add water and you're okay<br> when it's nice to know that you know what their you know what I what I didn't know was only we said one half of 1% is drinkable water in the world most beautiful Water Works in very little bit of making a big impact there as well there's a lot of difference in a tributary scuse the pun that are feeding this water sector and we finding a robust solution set of opportunities that were able to capture do our research on get our soda and provide what I consider to be opportunistic Investments for our clients and I've been over the last 12 years<br> way to go you don't member you have climate change you have Urban ization you got the man from population with and you've got the scarcity of supply and as you have more more climate change is shoes and you have glaciers that are falling off and you have a temperature that are making a formerly large lakes dry you got issues and water for the agriculture rifle food so the lot going on there and the lot of great research being done by these companies that shouldn't change the the change DeSoto Glide path that many that we find ourselves on and who knows where the future may be the sound is a she will make a big difference maybe metering will make a big difference or maybe a bunch of these together will help us solve our water problems<br> you talked about desalination or you know the big plants at people or companies could develop to filter water so you have more drinking water but at the end of the day it's how do you say appreciating a depreciating commodity is really very interesting especially if you're looking at investing and I think a lot of people are like me sitting on here going wow that's an aha moment and the pipes to pump the valves are you you think about 500,000 gal damn leakage from pumps and pipes around the world and the country rather now in the eastern part of United States these older part you see those water pipes and and the systems there are obviously a lot older in some cases that would and so is a lot of work needs to be done there because we all know the issues with LED<br> the issues. In Flint Michigan that was made popular a few years ago these are very serious issues and now with the recent passage of the president's infrastructure Bill we have a good chunk of the number two spot on the pie chart of spending that's going to water so you don't finally we are now no longer chicken the proverbial can we are trying to make it into a difference in an impact on this very needed and can't leave without commodity and and we need to do that we need to fix our infrastructure we need to test you need to make sure that we can deliver this and and sanitize it and shows a lot of a lot of companies that are playing in this field and we are we do a lot of work and let her research to identify the ones that are most opportunistic and forgiving how does<br> water sector investing fit in your portfolio Howard Peter advises clients and navigate the rate change in the future so stick with us we're going to write the more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the ins-and-outs of money was Financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton will welcome back to the savings we talked about the ins-and-outs of money is all about making sure you have a happy healthy relationship with money if you'd like to join us have a comment dude has viewers at saving with Steve, at again viewers at 7 with Steve. Calm that way if you say hey I want to learn more about the water sector or I want to learn more about something else could you get us a subject matter expert we're definitely going to do that so with that we got more with Peter Klein again he's a chief investment officer and a line wealth and you know what he's a water expert subject matter expert Guru so let's go back with some more Peter Klein thank you Steve we've already talked about the need for the water sector investment and obviously<br> depreciating asset there's a lot of money going into that to do a lot of things and you know what the big question is how does a water sector investment fit into somebody's portfolio how have you best to go about investing in the water sector well I think there's a couple of different things there are ETFs that are out there that you could design a mutual funds that you could utilize and that's one way to go I'm in many cases the global footprint so that's that's good as well we also running separately managed portfolio of individual Securities for a client focus on the water sector so that's not individual Securities that we put together and put into a portfolio of course it's those folks out there who might be more focused on impact or philanthropic impact there are many impact funds or investment has to look at focused on the water sector.<br> bring fresh clean available water to areas of the world that do not have it doesn't fit in line with their philosophical ideas for investing that somebody something that could provide them a decent return and all that of course provide them with the societal impact the desired that they're offering Desiring to do I many Philip many philanthropic vehicles are aligned with the other beer their values and their impact on that also from our viewers it's what we got a potential rate change coming what would be the best way to navigate that change obviously we've seen the market go down a little bit last couple days before<br> participating style for trying to figure out when and all that so what's the smart move for the everyday investor moving forward with the last few months that we do believe interest rates are going higher elevations more pervasive than perhaps the federal others that thought and believe the FED is someone behind the curve and receiving back come to fruition lately so we suspected we're going to see a higher interest rate to to reduce the inflationary forces that might be part by part of the covid-19 byproduct of the stimulus and with a combination of both be that as it may be increasing interest rates clearly the growth sector would be under greater pressure at with valuation being so high than the value sector so one of the five areas that we are focused on<br> is value over gross the other four of our inflation Centric Investments we want to have a good chunk of our Capital allocated to real assets and commodities and like one infrastructure assets you feel those are steady Eddie like returns that will be good in any kind of walking condition interest rates being higher lower third international and in the fourth we think is innovation Innovation me where are cautioning paying too much for Innovations we're looking for those opportunities that might be down and out and forgot but not but you need to come do it thank you very very much and it's a lot to digest it. I'm just curious and I've had this question is more mine than a man of yours but we've seen where we've been told if you're looking at the news which isn't always right and it's more of a Blood Sport anything else but you see this inflation piece they say he's still<br> and all that stuff but isn't a lock driven by the supply chain or the lack of Supply yeah you would think that that is very kind of you know what I think that's been somewhat debunk that me yes of course it is partly supply chain but I think there's more to it than that right I think we should nice one and so this is you know I believe very firmly in the Basic Finance tenant of regression to the me right so you know you going above the mean for a while I go below the meat for a while and we have certainly been below the average inflation rate for some two decades now okay so crazy to me by companies that have pricing power that's where the sector's that's where you going to be able to keep up with inflation vs. companies that have to know it can't raise their prices<br> and because of that they're their margins get squeezed and you know who then our knees get squeezed and of course that big are the multiple as well so you can become a double hit in certain companies in the same token on the opposite side if you're buying the Rights Act is the right at the right company and the right company you can get a double win because you could get a few precincts profits and also increasing multiples that that rumor or whatever that you keep hearing about the supply chain you know what I'd like to do next is just talk about your book passion forgetting I have written a couple of books for John Wiley & Sons some years ago and it was basically books about my journey through the CFA process and it was a more fundamental secure<br> it's true a cure for insomnia if anybody has trouble sleeping by all means take the book up and we got like an instant but it was a lot of work but it was fun and then I was I was asked to serve as a head of the foundation and I wanted to learn more about it and it and I was I was learning about it I will write about when I learned what I'm teaching myself something as a way to learn them stay to myself there's a book here and indeed there was my Publishers over it while they like the idea of a guide to how to start manage and run a chargeable Foundation wish I was in the midst of doing and I will tell you that's a good read a little bit different than to text bookie security analysis book that had previously written and it takes the reader through a series of how to how to start how to manage and operate how to add a grant from a charitable foundation and then the second part of the book<br> beautifully by my co-author Angelica Berry talks about the good that philanthropic entities have done overtime wow you know what I love that because there's so many people who<br> don't realize what they're doing when they set up their foundation and you know what if they had a road map which would be great to make a big difference in that so that that's that's just wonderful now we're coming close to our time here and I know you're going to have to go pretty soon too so could you you know just let us let her listeners know how they can get ahold of you if they need your services so it's Peter jakeline I'm at a line wealth Aline by all means we welcome all inquiries and emails by all means I reach out to be a plenty of materials as you can view on our website from matters about the markets as well as philanthropy so I welcome anyone checking it out any questions that come up I only shoot me an email that's wonderful dear I want to thank you for joining us this has been wonderful I've learned a ton bunch of aha moment that's for sure and you know what stay stay stay healthy and you know what to look forward to seeing you next time if you want to take care<br> sit here for shaving with Steve that was Peter J climate Chief investment officer and a line wealth talk to you about the the the water sector which is unbelievably interesting top of that talk to you about his passion for giving and if you need to get a hold of Miss Klein wild you know what check them out so you could be a fit for you with that I want to thank you all for joining us with a wonderful show with Ryan my shock talking about the nine different ways that you can save for long-term care we talked about how do you know I create a budget and stick to it and then we just found out about the water sector with that I want to thank you all for joining this is Steve Saxon wood shaving with Steve will look forward to seeing you next time I'll be safe thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that's saving with Steve. Us join us again next time as we continue to talk about everything on<br> the song that relates to you having a healthier happier relationship with money this has been the saving with Steve show hosted by Steve Sexton<br>