Your Best Financial Life

When making major life transitions, it’s natural to have questions and uncertainties. When preparing for college, many parents and students are unsure of where to start, what to prioritize, and how to prepare. In today’s interview Ben Malbasa, teacher and coach, discusses how to prepare for transitioning to college, what to think about before applying, and how to think about prepping for college sports. While college can be a hyper competitive environment, there are three areas in which you can leverage yourself to be the best possible advocate. Join Scott Malbasa in this interview to learn more about how you can prepare for college as early as possible.  

Show Highlights: 

• Ben talks about his teaching and coaching experience 
• Parents are often uncertain on how to prepare students to transition from high-school to college and Ben shares how his school helps prepare students 
• Experience in sports can help prepare students for further academic education
• Parents often want to protect students from failure but sometimes failure is what students need to succeed 
• Being able to deal with real world problems is key to developing flexibility and resilience 
• Having a conversation about finances can help you identify your financial objectives in supporting your children’s education
• Being aware of the differences in gender development is crucial for future preparation 
• College has become significantly more competitive over the last few years and the sooner you prepare the better 
• Encouraging a life-long habit of being a reader is one of the most beneficial preparations for college 
• The SAT and ACT are simply levers to help you pull in your college application process but they are not measures of what your best is 
• Establishing good habits as incoming freshman is important to keep up with academics 
• The real purpose of sports in school is to learn how to win with humility, lose with dignity, and learn to be part of a team 
• Being a part of a team presents opportunities to achieve something great 
• There are three levers of college admissions; academic profile, specialized skill, and revenue 
• Almost anyone willing to commit to a sport can compete at a college level and it can significantly elevate your college application
• Recruiting services can be beneficial but are not necessary 
• Going to college camps for your sport starting your freshman year can be extremely beneficial when applying later 
• Pursuing your values is important 

Links: 

http://scoutingohio.com

It Takes What it Takes: https://www.harpercollins.com/9780062947123/it-takes-what-it-takes/

Contact Scott: [email protected] 

When making huge life transitions, we often have many questions left unanswered. If nearing retirement or newly retired, it’s likely you’re wondering what to do with your time, what benefits are available to you, and how you can stay connected. 

In this interview, Ben Manny and Annette Bachmeier, from the Intel Retiree Organization, share their experiences transitioning from Intel to a member of the board of directors on the retiree committee. They discuss the variety of benefits that the IRO offers retirees and how you can get involved. Join Scott Malbasa in this super informative conversation to learn more about how you can get the most out of your experience as an Intel retiree. 

Show Highlights:  

• Ben and Annette share what they did at Intel and what they now do during their retirement 
• Benefits of being part of Intel 
• Annette discusses what organizations within Intel inspired her to stay involved in giving to her community 
• Ben talks about the programs he volunteered with and how he helped other retirees get involved
• Ben and Annette discuss what their positions within the retiree organization are and what their current responsibilities look like 
• Intel is an advocate for retirees and is strongly involved in pushing for giving their concerns a voice 
• Intel goes out of their way to offer discounts and benefits to retirees 
• There is a closed Facebook group for members of the Intel retiree organization that allows retirees to share information with one another and maintain community 
• Retirement provides an array of opportunities to experience and get involved in new things 
• The IRO website is a crucial resource for retirees to get information and stay informed 
• People may miss a variety of discounts and opportunities by not staying updated with the IRO website 
• People often miss staying connected with peers if they don’t stay involved in IRO
• There are major losses you experience when making a major life change and staying involved in community can be a huge support during the shift of retirement 
• Intel is currently working on transitioning the board to be more sustainable 
• Succession planning has become an important aspect of maintaining stability within the organization
• Current employees should get informed of the IRO before retirement 
• Ben shares how you can join the IRO and discusses the privacy policies in place 
• If you’re considering retirement, the IRO is a great place to get educated about on the retirement experience 

Links: 

How to join the IRO: https://intelretiree.com

Contact Scott: [email protected] 

As the market is changing, many of us may feel compelled to take risks and make shifts along with it. There are many factors to consider when deciding whether or not to act on that impulse.

In this episode, Scott Malbasa, your host and financial advisor, shares the top questions to ask yourself when taking risks in a volatile market. He also shares a personal client story and the strategic approach he used to manage this client’s risky financial decision. Join Scott to learn how you can get to the root of your impulse and make the best financial decision for your goals. 

Show Highlights: 

• Evaluating factors that are driving your impulse to take risks   
• Analyzing whether or not your feelings are grounded 
• Using Financial Plans to see whether or not they parallel objectives
• How to move forward if you can afford to take a risk 
• The importance of having conversations and creating a schedule to increase equities 
• Running a model scenario to evaluate whether or not a change is best for our finances 

Links: 

https://www.cordantwealth.com/team/scott-malbasa/

[email protected] 

When hit with unexpected market shifts, there’s no need to panic. There is an array of action steps you can take to be prepared for economical downturns. With the global impacts of coronavirus emerging, there are a variety of different strategies to pay attention to and put into place in order to protect your finances. 

Today’s guest, Isaac Presley, is the CEO and Director of Investments for Cordant Wealth. Isaac shares how to put a financial blueprint into place and the benefits of sticking to your financial goals. He also reveals actionable steps given the current market environment to monitor your finances and protect your assets. Join Scott Malbasa in this relevant and insightful conversation with Isaac Presley. 

Show Highlights: 

• How the coronavirus is currently impacting the economy 
• Isaac shares how the current global pandemic has shifted his day-to-day life 
• Why it’s important to establish a plan for bear markets 
• Putting a financial blueprint in place to assist in future decisions 
• How to stick to your financial plan 
• The three types of bear markets and the average severity and recovery time for each
• General portfolio management and financial planning actions you can take during a bear market
• Eliminating unnecessary noise and focus on what matters in the new today

Links: 

https://www.cordantwealth.com/team/scott-malbasa/

[email protected] 

When great career opportunities arise, we often overlook the difficulties that accompany the transition. Today’s guest, Kristie Mann is currently the Senior Director of Products for Intel, a position she uprooted her family across the country for. 

After 20 years at HP and much contemplation, Kristie transitioned into a new position with Intel. In this interview, Kristie shares what her experience settling into a new career was like and the emotional impact it had on her family. If you’re currently making a career transition or simply want to hear more about Kristie’s experience, join Scott Malbasa in this insightful conversation. 

Show Highlights: 

• What Kristie does and how she’s gained the marketing position she has now  
• How Kristie’s interest in economics and customer drive compelled her to get her MBA 
• Kristie’s personal life and family dynamic 
• Biggest obstacles Kristie faced when moving in her career 
• How Kristie’s career shift impacted her family 
• Rebuilding career credibility in new positions 
• Why it’s important to reach out to people when experiencing low points  
• How career circumstances can shift parental relationships 
• Tips for making large-scale career shifts 

Links: 

https://www.cordantwealth.com/team/scott-malbasa/

Contact Kristie: 

Resources: 

https://hbr.org

https://www.zonetowin.com

Everything comes and goes in seasons, yet we’re often not prepared or equipped with the right tools to embrace those major unexpected shifts. Today’s guest, Howard Rachinski, is the founder of Christian Copyright Licensing International, which regulates churches with a copy license in order to ensure their compliance with proper compensation for usage of music. He recently underwent a major life shift when he sold his business, which led him to write his new book Perpetual, The Secret to Finding God in your 7 Life Seasons. 

Howard shares the many lessons he’s learned through various seasons of life and how he’s learned to accept and find harmony through change. He discusses ways to stabilize yourself through uncertainty and the importance of maintaining vulnerability. Join your host, Scott Malbasa, in this wisdom filled conversation with Howard Rachinski. 

Show Highlights: 

• Learning to embrace change and identifying lessons during life seasons 
• Howard shares what motivated him to create a Church Copyright License and how he identified when it was time for him to transition into the next project 
• Maintaining discipline in seasons of questioning 
• Creating practical dialogue to frame future shifts 
• Dealing with helpless and hopelessness 
• 5 losses you experience in transition 
• Embracing moments of rest and developing relationships that support you through all seasons 
• Identifying outlets and people that allow you space for transparency and release 
• Establishing relationships to allow for impartation and vulnerability 
• Howard's inspiration for writing a book and the topics he explores in his novel
• The importance of engaging with others and materials who can help you optimize the value of your assets and passions 

Links: 

https://www.cordantwealth.com/team/scott-malbasa/

Contact Howard: 

https://howardrachinski.com

The Secret to Finding God in your 7 Life Seasons: 

https://www.amazon.com/Perpetual-Secret-Finding-your-Seasons/dp/0991131169

Often times, it goes unnoticed that leaders need leadership too. There will always be transitions, issues, and situations that individuals need guidance through, whether they’re a natural follower or leader.

Jeff Spahn recognized the need and importance for this, which led him to establish his educational firm, Leaders Leading Leaders. Jeff assists leaders through major career shifts, exploring the process of self-observation, achieving higher performance, and so much more. In this episode, Jeff and Scott Malbasa have a deeply encouraging conversation about the magic of observing and how to utilize it to become a successful leader. 

Show Highlights: 

• What influenced Jeff to pursue a career in leadership 
• What is collective flow and how to consistently achieve it 
• How leaders can stimulate collective innovation and decisiveness 
• Learning the skills to keep consciously choosing a success path 
• The traditional model of leadership and how it’s shifting 
• How to build self-awareness to deepen your capacity to lead yourself 
• 4 steps a leader can take for self-observation 
• Utilizing the skills of self-observation in everyday life and how to further develop those skills 
• The importance of observation without judgment 
• How to know what type of leadership to implement situationally 

Links: 

https://www.cordantwealth.com/team/scott-malbasa/

Contact Jeff: 

https://www.leadingleadersinc.com

Resources: 

The Essential Rumi

Get to know the CEO and Director of Investments of Cordant Wealth Partners! 

Scott sits down with Isaac Presley to discuss managing the level of risk to take in order to achieve the goals that are trying to be achieved, the common mistakes they see customers making, and much more.

Listen in and see if you recognize any of these scenarios!

Show Highlights:

• Isaac provides a fascinating overview of his background, his education, and his career track to Cordant Wealth.
• Isaac shares a couple of his life epiphanies.
• Scott and Isaac discuss the benefits of fee-only independent advisors for investors, as well as what’s appealing about fee-only independent advisors from the advisor perspective.
• Since the world changes so rapidly, there will always be something new to look at and research, but if you have a plan in place it will help filter out a lot of the noise and keep you focused.
• Having no plan is just as bad as having a bad one.
• Taking on too much risk based on past performance is a big mistake.
• Since risk changes over the course of time, it is difficult to evaluate your own risk.
• The “variable risk preference bias” is a person’s instinct to change how much risk they’re taking on, based on what the markets have done lately.
• As you age that bias towards changing your risk actually increases, research shows, and there are associated consequences.
• The “sequence of return events” says the order of your returns matter, and Isaac provides more insight as to its impact on your portfolio.
• There is both wisdom and discipline in figuring out what you want to optimize for, writing out your investment plan and reviewing it periodically.
• Markets are cyclical, so it’s helpful to look beyond the recent past.
• Scott and Isaac talk about red and yellow flags when looking at a new investment portfolio.
• The best way to capture what you’re after is a matter of picking investments that are going to work over time and maximize your odds of success, and not going all in for something that’s worked recently and then switching to something else, back and forth. 

Links & Resources:

Scott’s Email

Scott’s Website

SUBSCRIBE & SHARE!

Scott’s Podcast

Suggested Book:

The Geometry of Wealth: How To Shape A Life Of Money And Meaning, by Brian Portnoy

Sarala Paliwal is today’s guest. She is Senior Engineering Director at Mentor Graphics, A Siemens Business, and manages a worldwide group of software engineers and a worldwide group of quality software engineers.

Sarala also volunteers with Girls, Inc., and is on the Advisory Board that helps with their STEM (Science, Technology, Engineering, and Math) program for young girls.

Join us as we cover technology education for young women, the gaps in education and what needs to be changed, and much more!

Show Highlights:

• Many people think of engineers as just being analytical and not creative, but you will often that find engineers are both.
• Sarala believes that educating girls in the sciences should not even be  a topic, but rather an expectation of it being part of the course material for everyone that they would take up to a certain level.
• It’s important that you be very good at the fundamentals, and confident in the domain. When this happens, that is going to come through.
• Attacking the problems, researching them, and understanding them is the key to confidence in complex issues.
• Sarala often sees young women (and some men) who get frustrated and want to give up on a project if they don’t understand everything about it. 
• Knowledge is power, and gives a sense of confidence during public speaking, such as meetings.
• If the fundamentals are not given more focus in the education system, there will be less people going in to the sciences.
• Strong core curriculums are necessary for a better education system.
• Investing in training for teachers and using teachers who are specialized in their fields is very important.
• Having a good attitude makes learning a little easier and a lot more fun.
• When volunteering your time in the education field, teacher training exposure to industry and bringing that in to school should be advocated.
• What would happen if we trained our students in science and technology as well as we train them in sports? What if parents were as involved with academics as much as they are with the sports programs?
• Sarala explains the programs at Girls, Inc., and her role on the Advisory Board.
• Sarala is seeing a lot more intersection in varying fields.

Links & Resources:

Email

Website

SUBSCRIBE & SHARE!

Podcast

Sarala’s Suggested Podcasts

Freakonomics: http://freakonomics.com/hours/

Hidden Brain: https://www.npr.org/series/423302056/hidden-brain

Throughline: https://www.npr.org/podcasts/510333/throughline

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 - whatever product you’re being sold has to be suitable for your situation. As an example, if there’s Product A and Product B, and they’re both similar, but in the advisor’s estimation Product B would be best for you, whereas Product A pays the advisor more, the advisor will probably go with Product A.
• The fiduciary standard - a fiduciary must act in your best interests. This eliminates the financial incentive of an advisor having to choose, as there is no compensation.
• There are large financial institutions that provide products and aren’t incentivized to change the way they’re working, and so money impacts what happens. It’s hard to pass legislation to shift the industry to a more fiduciary standard.
• When legislation was proposed for a fiduciary standard across the industry, all the big banks and institutions put a lot of time and energy into structuring how they operate. While at the same time, they put a lot of time and energy in Washington, D.C., to stop it.
• The way Cordant Wealth is structured, which is as a fiduciary, advisors do not get compensated for putting you in a life insurance policy, a long term care policy, or a particular mutual fund. 
• Scott G. says it’s nearly impossible to tell from commercials if a financial institution is a fiduciary or not. He would like to get to a point where that’s not even a question in people’s minds.
• While there are many good advisors that provide sound advice and can get you what you need, people are incentivized by making money, and this structure can lead advisors to not making the best decision for their clients.
• Scott G. doesn’t watch the stock market on a day-to-day basis, and he says you shouldn’t, either. There are systems that monitor it, and he advises to save, diversify, get out and enjoy life and don’t worry so much about it. This is because the stock market is all over the place on a day-to-day, week-to-week, and month-to-month basis. It has very little impact on your big picture. Ideally, you should be invested over the long term (10, 20, 30 years down the line).
• Unless you’re a day trader, you don’t need to worry about the day-to-day stock market.

Links & Resources:

Email

Website

SUBSCRIBE & SHARE!

Podcast