Ever wonder how our Chief Investment Officer, Meghan Pinchuk, decides which investments are worth it and which are overhyped? Join Chris and Meghan on this week's episode of THE FINANCIAL COMMUTE as they discuss what makes an idea worth exploring, why due diligence is key, if AI is an overhyped investment, and alternative investments.

Tune in if you’re interested in the following:

• Preserving and growing your wealth

• How we evaluate new opportunities

• Diversifying your portfolio beyond stocks and bonds

• Market trends and the broader financial landscape

• How we conduct due diligence and assess risk

This episode is relevant to you if...

• You purchased long-term care insurance years ago and are now receiving notices about major premium increases.

• You help your parents/grandparents manage healthcare and financial decisions, especially around long-term care.

• You are a single person who wants to ensure you have a plan in place for long-term care without burdening family members.

• You are a financial professional looking to increase your knowledge around long-term care planning and insurance so you can better serve your clients.

On this week's episode of THE FINANCIAL COMMUTE, Financial Planning Advisor Brittany Yudkowsky joins Chris to talk about RMD planning.

• Required Minimum Distributions (RMDs) must start by age 73.

• Strategies like Roth conversions can be used before reaching RMD age to reduce future taxable distributions.

• After age 70½, individuals can donate up to $108,000 (2025 limit) directly from their IRA to charity, reducing taxable income.

• Making large contributions to a donor-advised fund in high-income years can offset the tax impact of RMDs or Roth conversions.

• In the first year, you can delay your RMD until April 1 of the following year — but that means taking two RMDs in one year, possibly increasing taxes.

• If still working and participating in a 401(k) (and not a 5%+ owner of the company), you may be able to delay RMDs from that plan — but not from IRAs.

• If the RMD isn't needed for living expenses, options include reinvesting it in a trust account, using it for charitable giving, or funding experiences.

• You can take RMDs monthly, quarterly, or at the end of the year; spreading them out can ease market timing risks and prevent last-minute errors.

On this week's episode of THE FINANCIAL COMMUTE, Wealth Advisor Mike Rudow joins Chris to discuss the Fed's decision to keep rates high.

Here are some key takeaways:

• Trump recently criticized the Fed for keeping rates high and hinted at wanting to replace Powell.
• Inflation has been stubbornly high, making it risky for the Fed to cut rates prematurely.
• Chris says the Fed is in a difficult position right now as the economy is slowing, tariffs are creating uncertainty, unemployment might be ticking up, and inflation may continue to rise. 
• Trump wants rates to come down because it could help stimulate businesses and increase borrowing/purchasing power for consumers. However, if we lower interest rates too quickly, it could potentially cause inflation to shoot up which would eventually increase rates. 
• Chris and Mike agree that building resilient portfolios is even more important in volatile, uncertain times like now. 

On this week's THE FINANCIAL COMMUTE episode, CPA Chris Passmore joins Chris Galeski to discuss moving states to save on taxes. Does it always make sense?

Here are some key takeaways from their conversation:

• Headlines about high California taxes can be misleading—actual savings vary widely based on income and lifestyle.
• States like Texas may have no income tax, but property tax rates can reach up to 3%, significantly higher than California’s Prop 13-capped rates.
• Factors like homeowners insurance, electricity (especially in hot climates), and DMV registration fees can increase expenses elsewhere.
• Sales tax can make an unexpectedly large difference in your wallet. California’s near-10% sales tax contrasts with Oregon’s 0%, which offers large savings when shopping or dining out. Other states that don't have a sales tax include New Hampshire, Montana, Alaska, and Delaware. 
•  To be considered a non-California resident, one must sever ties—like doctors, voter registration, library cards—and clearly establish residency elsewhere. California can pursue back taxes indefinitely if it deems someone a resident.
•  CA imposes a 0.4% exit tax on net worth over $30 million (excluding primary residence) for those relocating out of state.
•  States like South Dakota offer favorable retirement income tax rules, making them attractive—but weather and lifestyle may still be tradeoffs.

On this week's episode of THE FINANCIAL COMMUTE, Chris and Kevin discuss a book they recently enjoyed, Die with Zero by Bill Perkins. Are most of us over-saving and under-living?

Here are some key takeaways from their conversation:

• Bill Perkins argues that most people die with too much money. He says wealth should be used to create meaningful experiences while we're healthy enough to enjoy them.
• Kevin notes that life is made of seasons — in youth, you have time, energy, and health. Optimal planning aligns spending with life stages to maximize fulfillment.
• Instead of waiting to pass on wealth after death, giving earlier can be more impactful — for kids, grandkids, or charities — while you're still around to see the results. 
• Chris and Kevin agree it is important to prepare for the future and make wise financial choices while spending with purpose on things that bring the most value and joy. 
• The book gives a new perspective to the FIRE movement (Financial Independence, Retire Early) and questions delaying enjoyment for a future that may never arrive or be as fulfilling.

On today's special episode of THE FINANCIAL COMMUTE, Jeff and Meghan address the recent volatility in the stock market and how Morton Wealth protects clients' portfolios amidst uncertainty.

This episode was filmed on the morning of April 4th. 

Here are some key takeaways from their conversation:

1. Meghan and Jeff emphasize the importance of preparing in advance for market uncertainty. Rather than reacting to volatility, Morton Wealth's portfolios are designed to anticipate it.
2. While many traditional firms hold 50 to 80% stock exposure, Morton's average client has much lower weighting to stocks.
3. Diversification beyond domestic stocks includes investing in assets like gold/gold mining stocks, international stocks, bonds, and private lending.
4. Jeff and Meghan elaborate on our philosophy towards diversification and highlight that portfolios have held up well thanks to this approach. If you have concerns, do not hesitate to reach out to your advisor.

On this week's episode of THE FINANCIAL COMMUTE, host Chris Galeski and COO & CMO Stacey McKinnon discuss their five best travel hacks.

Here are some key takeaways from their conversation:

1. FLIGHTS: 
   1. Once you have an idea of your vacation dates, try using the date finder on airline websites or Google Flights to see which specific days are the cheapest to fly. 
   2. Chris says opening a new credit card in advance of a big trip can be a great way to get one or two flights covered, especially if the card offers transfer specials between airlines.
2. HOTELS
   1. The American Express Platinum card offers many upgrades and discounts at many hotels. 
   2. Stacey says if a guest uses booking sites like Expedia, hotels will usually put them in the lowest room. They prefer when guests book through their website, American Express, or travel advisors. 
3. CRUISES/YACHTS
   1. Booking last-minute cruise deals can offer great prices since cruises are trying to fill rooms. 
   2. Booking excursions locally tends to be more affordable than through the cruise line.
   3. Chris says after September 1st, yacht and boat deals tend to be heavily discounted.
4. CONCERTS/SPORTING EVENTS
   1. You can access American Express concierge services through their Platinum, Business Platinum, Delta SkyMiles Reserve, and Hilton Honors Aspire cards. The concierge services can help users get tickets and sometimes special seating at exclusive sporting events/concerts.
5. INTERNATIONAL TRAVEL
   1. Stacey urges listeners to take videos of rental cars (exterior and interior) before they start driving so that rental car businesses cannot accuse them of damages that were done by previous drivers.
   2. Chris has a Fidelity Cash Management Account, which reimburses him for ATM fees anywhere in the world. They also offer cheaper currency exchange rates when using international ATMs.
   3. Many places in Europe don't take American Express cards. It is important to do your research on what cards are usually accepted in the regions you are visiting prior to traveling.

Stay updated with the newest travel hacks by following these resources:

Colin Stroud: https://www.linkedin.com/in/gosomewhere/

The Points Guy: https://thepointsguy.com/

Daily Drop: https://www.dailydrop.com/

On this week's episode of THE FINANCIAL COMMUTE, host Chris Galeski and Wealth Advisor Patrice Bening discuss buying vs. leasing cars. Which is better?

Here are some key takeaways from their conversation:

• While leasing typically offers lower monthly payments, it can become an ongoing expense with no ownership benefit. 
• Leases usually have mileage restrictions, and exceeding them results in costly penalties.
• Buying a car means dealing with depreciation, but owners can build equity and eventually sell the vehicle.
• Buyers should negotiate the total price, not just the monthly payment, to avoid unfavorable terms.
• Leasing requires higher insurance coverage, and gap insurance is crucial to cover negative equity in case of an accident.
• While leasing may seem cheaper in the short term, long-term car ownership typically saves money for those who keep cars for many years. 
• Purchasing a two-year-old car with low mileage is often a cost-effective alternative to buying new.
• Changing life circumstances can influence these decisions. For example, when it came time for Patrice's teenage son to drive, she thought buying an older car would make their insurance cheaper; however, it was more expensive because old cars are more prone to breaking down. She says it is probably a better idea to buy a used car that is only a couple of years old for a new driver. 
• Many dealerships push leasing with attractive deals, but it's important to evaluate if it truly makes financial sense in the long run.

On this week's episode of THE FINANCIAL COMMUTE, host Chris Galeski and his wife Briana discuss the importance of having intentional conversations about money with your partner and how to do so. 

Here are some key takeaways from their conversation:

• On average, couples argue about money 58 times per year. Having open, productive conversations about money can improve a couple's understanding of each other and their financial success.
• Establishing clear financial responsibilities and potentially delegating certain tasks can improve efficiency. For example, Briana oversees most of their day-to-day financial decisions, optimizing their credit card points and allocating money toward different accounts while Chris focuses on their investments and long-term goals.
• Couples should have regular, honest conversations about their money goals, priorities, and habits. Briana recommends having these conversations while on a walk or in the car because it can make these "serious" talks feel more approachable. 
• While Chris and Briana were engaged, they tracked every penny they spent in a month. It was incredibly eye-opening and allowed them to recognize areas they could potentially cut back on. 
• The word "budget" can feel too restrictive for many couples. Instead, try thinking of it as a "spending plan" - where you are aware of your expenses and adjust your spending to align with your goals.
• It is pivotal for couples to discuss creating an estate plan and having adequate insurance should anything happen to one of them. 
• Even if one partner takes the lead in financial decisions, both should have a foundational understanding of investments and financial planning.