Does Your Financial Elevator Reach the Top?
Rotary Club of Cayucos-Seaside
Thursday, October 30th, 2008
Call to order @7:05
Pledge
Invocation
Anil's social-Dan had a great time!
Missing some members due to leave of absence and vacations to Greece and Mexico. Make it back soon-we miss you!
Rotary goes dark on Thanksgiving and be sure to refer to the dates when we are going dark in December also. Don't show up because we will not be here.
Report from the district foundation seminar-very confusing, but interesting information presented. Learned a lot about Polio eradication and what our money is being spent on.
Abalone Farm in the works for a field trip-tour takes 45 minutes to an hour. This would be in place of a Thursday morning meeting.
Poverty conference on November 22nd will be located at The University Channel Islands.
Cookbook committee meeting Wednesday, November 5th 5:30 at Hilary's office in Morro Bay.
Scott McManus: Craft Talk
Scott is a Financial Planner and Advisor. He helps people set up investments to direct their money into the right places to accomplish their goals. College planning, retirement. What is going on with the economy? If anybody is really queasy about their account, it is time to review your risk tolerance. People tend to think they are risk tolerant, but that is not the case when things are going down.
People sell because the news is very negative. Buy low, not sell low and sell high and rebalance when things get out of whack to keep their money working. Everything has lost value except cd's and fixed annuities.
In ten years if money in the stock market, you can double your money in ten years.
Saving accounts are a good way to keep your money safe for bills etc.
Mortgage and home equity line of credit referral from Wells Fargo. Refer off to local brokers.
The person who has the investment is it your job to foresee the problem?
His job is to say what are we putting this money away for? Put the money in vastly different places based on the purpose. A little bit of money in various locations, cash, cd's bonds, real estate, company, paper amount in each one is appropriate.
Does your financial elevator reach the top? Help put your money in the right elevator attached to strings that will support it so it won't crash down to the floor.
Immediate short term is foggy. Try not to make decision in short term.
Look 5 years down the road- allocate a lot differently we do not know what is going to happen. We can make guesses, however, don't gamble.
Interest rates-where will they go?
What is the usual trend for election years? A period of uncertainty as to what is the uncertainty of who is going to get in and they are going to react to it, the market has gone up more than when a Republican, the election is a non event.
Hedge fund can be anything hot shot investors will take large sums of money half a million dollars and invest it into stocks, real estate, life insurance, art and try to use that money to make money and do better than the stock market. Aggressively managed.
Thank you Scott for your presentation regarding your vocation.
Three female Cayucos students visited Rotary to share breakfast and their plans in becoming the future of Rotary.
Maddi Hald 8th grader, plays volleyball, likes Alice in Wonderland, has lived in Cayucos for an extensive amount of time.
Savannah Vaicius like to ride bikes, play video games, listen to music, and she will be a witch for Halloween. She has many pets, and has lived here for 6 years after moving from Templeton,
Mimi Madonna- also like to listen to music, play volleyball, loves reading, and her greatest adventure so far was when she went yard hopping and found a whole 6 feet deep. She will be a cop for Halloween. She enjoys the Halloween Buddy Walk where the whole school parades around town collecting candy from local businesses .
Thank you ladies for showing your school and volunteer spirit. We look forward to working with you in the future.
Present members were handed copies of The 4 -Way Test Essay. Rankings are due on November 13th.
Meeting adjourned @ 8:00