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: Scott@cordantwealth.com 

Your Best Financial Life

24: How to Prepare for the Transition to College with Ben Malbasa

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: Scott@cordantwealth.com 

23: Exploring the Benefits of the Intel Retirees Organization with Annette Bachmeier and Ben Manny

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/ Scott@cordantwealth.com 

22: This Time Feels Different, Should I Make a Change?

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/   Scott@cordantwealth.com 

21: A Bear Market Playbook with Isaac Presley

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

20: Impacts of Career Transitions with Kristie Mann

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

19: Finding Harmony in the Seven Seasons of Life with Howard Rachinski

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    

18: Even Leaders Need Leaders with Jeff Spahn

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

17: Minimizing Investment Mistakes with Cordant CEO Isaac Presley

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

16: Gaps in Technology Education for Young Women

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 

15: Everything You Need to Know About Fiduciaries with Scott Gerlach

A question that often comes up when talking to people that are approaching retirement is “What do I do next, and how do I evaluate the opportunities that become available to me upon retirement or the transitioning out of a role in a big corporation”? Today’s guest, John Tortorici, is going to help field these questions, and more. We’re going to learn how he evaluates opportunities and how he would recommend selecting a non-profit that meshes with your experience and the type of work you like to do. Passion is what drives him. As a father and grandfather, he loves kids and finds it heartening to see them learn and grow. He’s retired 5 times, then made a move into something else that sparked his interest and his desire to see kids succeed. John Tortorici is Chair of the Board of Directors at TechStart, a non-profit in Oregon that is dedicated to providing teacher training and student enrichment in the fields of engineering, information technology, and computer science. He is on the advisory boards for Portland Community College BioScience Department and for the Oregon Computer Science Teachers Association. John is a judge at ORTOP, a volunteer driver for the Rose Parade, a Volunteer/Mentor at the alternative Rosemary Anderson High School, and a consulting coach to a CEO of a large company and a VP of sales.   Show Highlights:  John describes entering the business world upon leaving the US Navy.  As a Naval officer, John learned a lot about managing people, which came in handy when he started his own business. He learned to hire the right people, train them, give them the right tools, make sure they understood the job, then got out of their way.  He found this philosophy his something his staff loved: it provided autonomy, they could do things as they needed to, and they could solve problems. If you don’t have complete confidence in your staff, you will want to oversee it more closely, which does not let your people grow. John walks us through his retirements and subsequent volunteering opportunities. How opportunities can reveal themselves while volunteering and networking. Be an agent of change: Meetings have minutes, people have action items after a meeting, and you can go from there. When you create a committee, every committee has a charter. The charter tells its purpose, who’s on it, and what they’re trying to do, and lays out a plan for the year. Then the plan turns in to a schedule. Schedules include structure, and that’s what non-profits need. John provides more details, such as its history, mission, and vision, concerning TechStart, and various volunteering opportunities. Evaluating opportunities (time commitment and availability, what does the organization need, is the culture the right fit, how can I be helpful, etc.) There are many different committees at non-profits that provide a different opportunity for volunteering. The biggest need for non-profits is money if they are dependent on personal giving.  Find an industry that is compatible and has an interest, an alignment, and a vested interest in that non-profit.  Stay current by reading industry newsletters.   Links & Resources: Email: Scott@CordantWealth.com Website: https://www.cordantwealth.com SUBSCRIBE & SHARE! Podcast: https://www.cordantwealth.com/podcast/ 

14: Evaluating Post-Retirement Opportunities with John Tortorici

This week’s episode is an extension of a recent interview with Beth Giles, a professional organizer. Today’s guest, Stephanie Malbasa is an estate planning attorney with special insight on what it looks like behind the scenes of downsizing, having recently gone through the process herself. She shares her approach to dealing with the difficulties of letting go of keepsakes, traditions, and memories that are intertwined with your current home and how to embrace a new mindset on life. Along with this, she talks about the before, during, and after progression that happens during this transitional process. Join Scott Malbasa in this interview to learn more about how to navigate downsizing.    Show Highlights:  Recognizing a downsize needs to happen and the logistics of downsizing  Being selective about what you keep and what you get rid of  Fluctuating with the times and letting go of things that aren’t cohesive with modern time Acknowledging when it’s time to pass on responsibilities and embracing your family  Dealing with the fear associated with downsizing Understanding the importance of connection outside of tradition  Embracing the feeling of loss and making an attitude shift  Preparing for moving and the process of the move itself  Letting go of unpractical things and distributing amongst family members  Using the desire to downsize as motivation to act on it  The most surprising aspects of going through a downsize  The hardest part about downsizing  Branching out to different mediums to expand our knowledge    Links:  Contact Scott: Scott@cordantwealth.com

13: How to Navigate Downsizing with Stephanie Malbasa

Chances are, you or somebody you know, have been offered a separation package from an employer. Today, Scott shares with us “Rob’s” story. Rob was around age 60 and planned to retire at age 65 when his long-term employer offered him an attractive separation package that would equate to about 2 and 1/2 years salary, a bonus, plus a year of paid health care. Some of Rob’s concerns were getting his children through college without acquiring debt and maintaining his and his wife’s current lifestyle. Scott walks us through the objectives that need to be considered, accounting of balance sheets, reflecting on liabilities, and the probability analysis. He also goes into detail about the baseline plan: which is, what do the next 5 years look like if Rob were to take this offer? Scott analyzes the success or failure of Rob’s plan. Follow along to find out Rob’s decision! Show Highlights:  Considering objectives: Getting children through college, maintain the current lifestyle, etc. Having a detailed cash flow in place Agreement on assumptions Accurate accounting of balance sheets Reflecting on liabilities Probability analysis  Concerns about paying for health care, pre-Medicare Covering tuition without dipping into retirement accounts Baseline plan - what do the next 5 years look like if you take this package? Some expenses would have to be paid in alternative ways Adding inflows and outflows, and making sure that taxes are right based on the value of separation package Analysis reveals the success or failure of Rob’s plan Additional help with taxes? What to do with the stock? Flexibility in charitable contributions Donor-advised fund   Links & Resources: Scott@CordantWealth.com

12: Evaluating a Separation Package

Nurturing a small business to maximize its potential while dodging the risks, plus preparing a business for an exit when a business founder wants out are the topics on today’s podcast.  You will meet Jeff Kadlic, who started his career in commercial lending, then moved into institutional investing. During his time in the investment sector, he was exposed to private equity funds. He kept seeing smaller successful companies that didn’t have access to capital but were overlooked by the larger investors. Today, Jeff is an advocate for small business owners, and his company, Evolution Capital Partners, dedicates itself exclusively to this market. There is lots to learn in this episode! Take a listen as Scott and Jeff chat. Show Highlights:  Farming system for “the big leagues” Target: small businesses with 500k - 3mil operating profit Professionalizing great small businesses to make them attractive to institutional buyers Maximizing potential Fundamentals of accurate and timely financial reporting Fundamentals of achievable and measurable strategic plan Fundamentals of aligned and experienced management team Fundamentals of transparent & accountable team members Fundamentals of effective and repeatable sales process When business owners want out: exit strategies Business is completely dependent on its founder Ways in which a founder hurts or adds value Checking your ego What is the business really worth? Start preparing at least 2 years in advance The importance of being emotionally balanced The value of most peoples net worth is tied up in their business How to know when it’s time to sell Making sure business is running optimally during the sales process Investing in the best team that you can afford to get you to the desired result Financial consequences resulting from sale process Later consequences “representations and warranties” What is the importance of having a board of advisors? Preparing for your company exit Buyers generally look at last 3 years historical financials  Some buyers also ask for 5 years projections  Filling in the gaps where the challenges are Continuing to learn and push yourself every day to do better - utilizing coaches Links & Resources:   https://fivefundamentals.com   https://evolutioncapitalpartners.com   Scott@CordantWealth.com   Book: “Shoe Dog”, by Phil Knight  

11: Nurturing a Small Business, Maximizing Potential and Preparing for a Founder's Exit with Jeff Kadlic

It’s human nature to desire stability in our lives, but we often have to overcome that drive for security to achieve our goals. Today’s guest, Bob Paskins, is a successful speaker and sales consultant, but it wasn’t always that way. Over the past year, Bob found the courage to transition from being a commercial insurance salesman to follow his passion. Bob talks about the fears he had to overcome in order to make this leap and the perspective shifts that he had to adopt. To hear more about Bob’s story, join Scott Malbasa in this interview.  Show Highlights:  How Bob helps people with his specific sales growth matrix program and what the program consists of  The most prominent aspects of Bob’s career and what drew him to it  The enjoyable facets of selling insurance Helping people reach their goals and getting them engaged in the process  Selling based on relationship and providing opportunities for clients Finding what makes you thrive Shifting your priorities to live out your dream  Determining whether or not you’re in the right position to make a life shift  Overcoming initial fear and giving yourself time  Taking ownership of your career and having freedom in your life  The different ways life brings confirmation and affirmation when you’re pursuing what you’re meant to do  The biggest struggles that accompany starting your own business  Budgeting your time and finding the right people to hold you accountable  Using your strengths to find your purpose    Links:  https://www.gallupstrengthscenter.com/home/en-us/strengthsfinder Contact Bob:  https://www.bobpaskins.com Contact Scott:  Email: Scott@cordantwealth.com  https://www.cordantwealth.com

10: Changing Careers to Follow Your Passion with Bob Paskins

No matter where you are in your career, you probably have some stress in your life that is caused by money. Are you saving enough? Will you be able to retire early? How much will it take to get complete financial freedom? Your Best Financial Life is here to answer all of your questions and bring on experts that can point you in the right direction. Your Best Financial Life is a Cordant Wealth Production.

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Your Best Financial Life

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