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 to another, so it is important to research each nation and its terms. Expats who have contributed to Social Security-equivalent programs in multiple countries may be able to combine their work credits to qualify for benefits from each country.

Jon and Chris also discuss the intricacies of international taxation and the need for careful planning when it comes to retirement accounts, investments, and titling/selling assets in different countries. Additionally, they stress the importance of distinguishing between domicile and citizenship in estate planning. It is crucial for expats and multinational families to consult professionals on these complex issues.   

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 used for qualified medical expenses, and withdrawals are also tax-free if used for qualified medical expenses. After age 65, you can withdraw funds from your HSA for any expense without penalties. They also briefly review ways to optimize mortgage interest deductions, including cash purchases and refinancing.

Finally, Chris and Kevin address the importance of managing one’s emotions when making investment decisions. Many investors want to avoid losses but end up missing out on better opportunities because they don’t want to take action during market downturns.

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 expect a consistent 9-10% return year after year in the stock market and must maintain a long-term perspective. 

Bruce and Chris also go over historical investment returns, with small value stocks showing the most significant growth over nearly a century. A dollar that was invested in large-cap stocks 98 years ago would have grown to about $11,000 by now, while it would have grown to about $128,000 if invested in small-value stocks. Chris and Bruce encourage investors to properly diversify their portfolios and consider if they’re exposed to these areas of the market. Additionally, they discuss the evolving investment landscape, particularly the rise of income-generating investments like fixed-income and private lending, due to changing interest rates. 

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 effectiveness of using AI in conjunction with human expert knowledge. Studies show that AI can frame medical diagnoses in a more empathetic manner and help professionals across all fields conduct research and create content more efficiently. 

As the world continues to evolve in the direction of AI-powered tools and software, it is important to be aware of the positive implications of this technology while still being intentional and cautious about how we use it.

In today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director of Investments Sasan Faiz to discuss the current economic landscape.

The global economy is uncertain due to the war happening in the Middle East, rising interest rates driven by the Fed’s efforts to lower inflation, and the dysfunction in the U.S. Congress related to budget resolutions. The 10-year U.S. Treasury yield reaching a 16-year high of 5% also magnifies the risk that the higher rates environment poses to the economy. Furthermore, U.S. consumers and corporations are facing higher borrowing costs, which dampens economic activity. 

According to Sasan, earnings expectations for mega-cap companies may already be priced into the market, with interest rates and geopolitical factors acting as the main forces driving current market dynamics. He encourages listeners to diversify their portfolios and consider gold amid this uncertain environment. Private credit and lending strategies may also be attractive as they offer potential returns comparable to equities. 

 Disclosure: Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your financial, legal, and tax professionals before implementing any transactions and/or strategies concerning your finances.

On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites CEO Jeff Sarti to recap the Investor Symposium and looks ahead to Morton’s future. 

Firstly, Jeff and Chris address the Israel-Hamas war and its potential impact on global markets. Jeff emphasizes the importance of diversification in building resilient portfolios to weather unforeseen events like this. 

Last Thursday, we delved into the different funds and strategies that strengthen and diversify our clients’ portfolios at the Investor Symposium. Morton advisors, fund managers, and other external speakers discussed investment and financial planning topics like how to raise financially savvy kids, the possibilities and pitfalls of artificial intelligence, Bitcoin/cryptocurrency, and how to handle financial disagreements with one’s spouse. 

To close the symposium, Jeff and Meghan Pinchuk, our Chief Investment Officer, announced our plans to form our own fund with the goal of democratizing investments and expanding access to diversification. Stay tuned for more updates on this process! We would like to thank everyone who attended the conference and hope the sessions were helpful to you.

Disclosure: Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your financial, legal, and tax professionals before implementing any transactions and/or strategies concerning your finances.

In this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director of Investment Sasan Faiz to discuss Q3 and how investors can try to protect themselves in unpredictable market conditions.  

Q3 saw a struggling market with the S&P 500 down 3.2% and MSCI EAFE down 4%. Bonds have also faced challenges as they were down 3.2% for the quarter and 1.2% for the year. This is because higher interest rates have had a negative impact on equities and bonds. 

Sasan and Chris agree that investors should consider adding gold to their diversified portfolios to try shielding themselves against these volatile market conditions. Gold has historically maintained its value and is viewed as a hedge against inflation. Costco has been selling one-ounce gold bars online that sell out within hours even though members are limited to two per order, so demand has clearly been increasing as people realize inflation is rising and the dollar is depreciating.   

Disclosure: Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your financial, legal, and tax professionals before implementing any transactions and/or strategies concerning your finances.

On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Mike Rudow, his very first guest, to celebrate the podcast’s one year anniversary. Chris reflects on this accomplishment and feels grateful that he and his guests have been able to deliver valuable financial knowledge to listeners for a year.

Chris and Mike also discuss the Investor Symposium and the topics they are excited to listen to, like Battle of the Spouses, Current Me vs. Future Me, and Possibilities & Pitfalls of Artificial Intelligence. Furthermore, Chris will be talking with private lenders like Keystone and Whitehawk to give clients insights into their strategies.  

Click here to secure a spot at the Investor Symposium on October 12th. We look forward to seeing you there! 

Disclosure: Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your financial, legal, and tax professionals before implementing any transactions and/or strategies concerning your finances.

On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Brian Farwell, Branch Manager at CrossCountry Mortgage, to discuss residential real estate and interest rates. 

The single-family home market remains resilient due to limited supply and high demand. It’s an expensive market for buyers, but Brian says it may be best to buy now rather than wait for prices to decrease significantly, as that is not likely to happen. Brian also thinks in the next couple years, interest rates may stabilize and come down due to election cycles. Buyers may be able to refinance loans later if/when rates drop, but they cannot go back in time and pay for a home with less competition. 

Chris and Brian agree that residential properties will not be running into the same problems as multifamily apartments, commercial and retail properties, as loans for these larger spaces typically involve shorter-term loans with adjustable interest rates. As the interest rate has jumped from 3% to 7% this past year, monthly payments will increase by 60% for these borrowers while residential mortgages are still locked in their long-term, fixed-rate loans. 

Brian emphasizes the importance of understanding your financial profile when buying a home and securing a mortgage. He helps his clients assess their finances and tailors mortgage options to their individual needs.

Learn more about CrossCountry Mortgage here: https://crosscountrymortgage.com/

Disclosure: Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your financial, legal, and tax professionals before implementing any transactions and/or strategies concerning your finances.

On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director at KCB Real Estate Megan Pautler-Gutnikov to discuss KCB Real Estate and their investment strategies. KCB is a buy-and-hold control investor in a wide variety of income-producing property types. 

We have felt confident in our partnership with KCB because of their long-term, disciplined, and patient outlook. They work with operating partners with a strong track record and prefer assets they can hold indefinitely. 

Megan emphasizes the need for investors to balance patience with a willingness to adapt to changing conditions, as rising interest rates, widening spreads, and bank failures have been contributing to lower property valuations. The debt maturity wall and national housing shortage may also affect the market in the future. It may be easy to fall into short-term, high-leverage strategies, but a quickly changing market makes it challenging for such approaches to work. 

Disclosure: Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your financial, legal, and tax professionals before implementing any transactions and/or strategies concerning your finances.