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Saving with Steve
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Guests, Regine Bonneau and Jeff Gold

Saving with Steve with Steve Sexton

Guests, Regine Bonneau and Jeff Gold

Saving with Steve

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The Save With Steve Show, hosted by Steve Sexton will help you with ins and outs of money. We talk about financial issues that that could be costing you thousands of dollars and keeping you up at night.

We talk about “money”… tax reduction, saving more, how to spending less and get more, 401k’s, risk management, retirement, and everything under the sun that relates to you having a healthier happier relationship with money.

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Weekly Show
BBS Station 1
Tuesday
Starts
6:00 pm CT
Ends
6:55 pm CT
Show Transcript (automatic text 90% accurate)

everyone has their own unique views and needs when it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place welcome to the saving with Steve show hosted by Steve Sexton the show will help you with the ins and outs of money we talked about financial issues that could be costing you thousands of dollars and keeping you up at night we talked about money tax reduction saving more spending less 401K risk management retirement and everything under the sun that relates to you having a healthier happy relationship with money now here is your host of saving with Steve Steve Sexton healthier happy relationship with money my name is Steve Sexton want to thank you for joining us today I want to thank you for sharing this with your friends and family and Associates were well over 600,000 listeners to her very thing
humble for that today we have a wonderful show we're going to talk a little bit about the climate but you know what we've all walked around the streets we seen the discarded plastic I mean if you're in San Francisco you're going to see all this started syringes downtown landfills and the realities plastic never break down and they cause a multitude of problem contaminating land Fisheries the holeshot will guess what we have just called he's the CEO of Nexus he's going to walk us through how he created the world's first hundred percent commercial circular waste plastic solution to this so you understand you took three million pounds of landfill plastic that we just commit contaminate the land and turn it into high grade oil can be used for many things one I'm also going to be talking about you know what the all through ultra-wealthy they use rather I erased the advantage of the reality is I'm going to walk you through how you can to help next we're going to be talking about the colonial pipeline that the Cyber attack
gasoline jet fuel from taxes to the east coast to New York and that whole system had been adversely impact the White House and I have to be I hate it was due to a ransomware attack or criminal groups held hostage data until Ransom was playing this breach has no hiding their vulnerabilities in the nation's energy infrastructure to cyberattacks we have Regine of Arby environment which is who's going to help us understand it before 8 say welcome to the show and their juice Regine I want to tell you a little bit of powder okay she's a highly sought-after speaker with in the Cyber industry she's a recognized leader and civil technology industries from Publications and Association she's got more than 20 years of extensive experience in the field of cybersecurity risk management and compliance in Industries such as Healthcare Financial legal government energy sector she's worked with small business of our businesses in fact she was recognized by our industry
as a business and technology leader most recently by Consulting magazine she's considered one of women's one of the women leaders in technology Regine welcome to the show we're just happy you're here thank you Steve I'm happy to be here always love to talk about technology and Social Security you know what was when it comes to ransomware and people have their identity stolen and all that kind of stuff A lot of times people just don't realize or understand what's happening on and the reality is I was looking at statistics on just robocalls you know when three Americans have lost money do the robocalls it's a very big business for these criminals and you know what show us what's happening with cybercrime now before we can really jump into that I'd love to hear a little background on you what's your story how did you get into love you know cybercrime started at 12 right
field itself before it is cyber crime as it is I still at 12 years old I was following my 7th grade teacher for full gram so understanding for Grammy oh I don't know if anyone remember the green turtle a floppy disk right so that's why I started and then went into a botics and after that I tried so many things at home that my mom sent me to engineering school and I know and move it to the parts as always for me is solution being impactful try to understand how the whole the whole ecosystem work. Sorry again landed me in 2 hours okay what else is what is the business need right on my conversation with a client to how we don't understand what do you need or what things that they have to do you don't understand a business I'm like why don't you write I don't do understand a businessman that this government service compliance right that his engagement to that ends with cybersecure
he is right side with the kids about the business and in the governance the risk of the compliance now to take me to technology which is a text Solutions driven now is being assessed to really meet that business initiative because you need guidance right so with all that our volunteer to be where no one else wants to be and and here here we are today it's fun to me because it's it's always about like I said being impactful solving being part of the solution and it's an ever-changing environment so it keeps you up at night or a different reasons I love the part where he said it's fun for me
so that makes this easy when it comes to the Colonial pipeline attack okay I don't think everybody really understands exactly what happened could you help us understand that well when you looking at the phone what happened to Colonial pipeline it's really you know every company when you look at it right and more susceptible to it as an attack and you know what news are still coming out still new finding but preliminary things are just small things right it was a fishing from a from a campaign that was that was done and then I ran somewhere comes into play it right there where it was a ransomware we're now they are flats their infrastructure was was mobilized right in the sense that no one could access anything and now you being told that you have to be a certain amount of money now in the sense of the company where the company is and what it stands as a part of a critical infrastructure for the United States it pulls a lot of rest right and we saw what happened within a short. Of time and that's why
do the government have to be involved and trying to facilitate what's the next steps are in order for them to gain back you don't answer a little bit more so for example somebody in the company received an email that has malware or something like that on it and they slept that email to respond to it and that malware embeds itself in the infrastructure of the company's Electronics okay then once that malware is in there and it's been activated it just seems like everything so nobody can do anything and not that time everything it depends on how long it's been there or how fast you can respond and what type of tools or process and that driving place to catch it it could eventually mobilize the whole company as a whole the whole infrastructure he was your data sources your puters your service which brings you to a fact where you cannot operate at all right
you got to stand still okay so so let's listen I know you work in different Industries so when we talked about you know Healthcare know everybody has Healthcare and if there's an attack at a Healthcare company that means they have access to somebody's health insurance information their health record their social security number their birthday and that information can be either stolen used or Ransom so you know what the doctors don't get paid you can you can't get the care you need or are you can't get the coverage you need for your information gets told and your you get your Demi's house cuz that's kind of the size of it when do you start David Weiser
yes you eat eloquently put it together I'm the reason why medical records right you seen hospitals which should be the safest ground dries us a round of any War right and War hospital no one bump the hospital but now you seen that there's no there's no one left in you no one left on touch and the reason why I was a lot of reason you do medical records associate the electronic version or the paper version writes all depends on how the The Ransom is being done conducted especially on the Technic the data side is because inside your medical record all the informations are there right and then on top of that not only do I have your information as a patient I have your your significant other your children your parents there's a lot of information so now all I've done is when I went after one person I have all the other people's information in the sense of credit card payments how do you make payments where who are you who are the next person their phone numbers your car.
information and now you see how things are starts me to formulate into a tree and branches out right because that is where the mines are there is not one record as many and now I can duplicate and become you see in the factors to different aspects right to anything is is an emotional aspect is the financial aspect right so some people do it because now how does soap of a personal or family member gets Medical Health right top and The Stance is if I can just feel that identity and go somewhere else by the time they catch it is too late but that person can gain some type of medical you know how many cc does a difference I depend on who does and how is being done and now Tis the other day of the financial rewards right especially on large databases large medical record companies has a lot of information and by the time you hasn't it consumed or an individual really get a whim of it is probably 2 1 2 3 years down the line right now it's turned into a largest couple
why are you I heard about that because what is it the state of South Carolina one of the revenue people brought their laptop home and they were using at home and I got hacked and I remember medical another Medical but the tax records got taken and what is it one of the persons from the FBI's has the governor was going to pay for identity theft protection for 1 year for everybody and they said you know that's a waste of time cuz you just told the criminals and I was like oh my God it's that simple
it's also really scary at the same time so okay so now we understand how ransomware gets through and you know what why it happened it sounds really simple for that. You know what I'm a Financial Consultant so when you get in the financial industry let it get you that get even scarier cuz that's everybody's Financial records and big broker-dealers have safeguards and insurance companies have safeguards and stuff like that but in some cases from your experience possibly will some of this ransomware and malware be sitting there for years until somebody's ready to pull the plug so to speak and pull pull their crime attack where I need money now or an attack where I know what I am asking a lot of information right so I have you seen that a lot and larger organization even the small ones if it's taking about you injured in six days for large organizations even know them
let's Act Right do you imagine those smaller businesses Aldi individual itself right so in that sense yes you can have some part of it when we talk about phishing email a lot of that is with some of the Links come right or someone just give their credentials if I know the company sometime is not the person right it's not the company that I hacked into you is really who company is attached to that I'm going after right because we will enter connected as a Outsource environment that live in but when you look at it yesterday they could be there for 4 days or years right we will have examples of Mario and his to a former just not even Mariah is because they purchased you know another entity and they were residing there right then you have example of a corporation with team members skillset even Outsource vendors that can help them but because of a amazing I'm going to do cuz we need to go to break
is it right now with us we're going to be right back with more Regina okay more expert advice for having a happier relationship with money still to come on the saving with Steve show
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welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton we've been talking with Regina Bonet of Arby advisory about cybercrime it's been memorizing you're going to have to stick with this I do want to let you know that score master.com is bringing this up to his show did you know the average American is 97/22 added to their credit score but no idea how to get them the data scientist at scoremaster crack the code on how adding 97 points your credit score is like found money it means fast loan approvals huge discounts low interest rates at everything from buying or refinancing a home at leasing a new car to applying for new credit card how fast is square Master One member raise your credit score 33 points in just five days 43 points in a couple weeks scoremaster so easy takes about a minute to get started if you hurry you can try scoremaster for free
Wright's Gourmet Surfer free and see how many plus points you can add your credit score go to score master.com saving that score master.com savings again that's a savings again I want to thank you, I also want to thank you for tuning in and appreciate you letting your friends and family members know about the show all our replace her available at saving with Steve. You asked if you're enjoying the stories of helpful information inside with Cigna Steve and I encourage you to scribe to our Spotify or apple play channel the never miss a show and check out a few Burr Philly it that you can help radio CBS radio talk radio New York City all these networks are dedicated to empowering you to solve problems uplift your spirit and live a life of personal financial Freedom so Renee welcome back to the show I want to thank you again for being here because all this is just exciting news to me because I've done a lot of interviews with people that work in the identity theft
rolled and what a lot of people don't realize is you know what these identity-theft start with ranch and we're either they're doing it to you the company you're working with or the government agency that you might be working with and you know what is it it's it's kind of scary because you know one of their great questions I have for you is this our country it seems based on what I saw with the colonial pipeline attack is ill-prepared and basically our businesses are ill prepared as well because I don't know that they really understand this at well am I right or wrong or what you know because we're I would you know from what from my experience with what we've been seeing and yes you could definitely look into it and say yes we are ill-prepared in the sense that is more education and awareness that needs to lease when it comes to cybersecurity from consumer to small business to medium-sized businesses and large Enterprises have a grasp on it before they are still susceptible right or when
look at the what is it what are the needs and understanding that this is something that is serious that we need to take him to our own business doesn't understand that it is a business decision until that takes place we will not be prepared for what's to come because we see it as a Carson not an investment I will say this being a Financial Consultant I assume one individual that had sort of a ransomware issue and that was after they were able to get his data and as a result it created some serious legal issues for him because they expected him to protect that data or his company to protect their information because some of those individuals had their identity staff and some of them had all that kind of stuff that were taken out in their name some loans and so on and people don't realize how this I called his supply chain but the chain of how this
daily run all the way down to your kids because one of things I did know about with the kids if you have young kids and they steal the identity they could use that had any free for years I would like 10 12 15 18 years especially if they have a newborn and sometimes it's as simple as saying Hi here's my little baby that was just born on this on Facebook cuz you know what it is interesting know I actually wanted your feedback. Yes about the whole you know cyber security incidents and starts in the physical Ramen in identity theft right and that turned into more of a ramp is as company started to use the platform to technology and integrate with it more and you actually correct I've had friends that I've had there when they started I start talking and instead started checking their own children young children if you know Social Security numbers and information realizing they have houses I've been able to purchase homes and imagine you at a young age and by the time you 18 trying to get there
starting your own credit and it's ruined not because you ruined it because someone else did it on your behalf right it's good if it's establish credit is never good at you know if it's not what yes so you do the thing about it is is not everyone if you don't understand something you have to seek the advice right you have to look into a get-well cybersecurity I'm hearing about this how does it affect me everyone is is is is acceptable to wear to a breach to an attack and that data is never it's not today and it's done right it's always the fact that that that is why you know when you're requiring that you have two companies and you have to pay for credit credit monitoring for three years right and on top of that now certain States and sterilizations or even allowing victims to be able to seek a civil action lawsuit right against the companies or against individual and now you still have to pay for operation so there's more to this. We don't walk the cost of humor late as they
not just because you pay the ransom and you back to order and keep everything quiet that you think everything is done but people now or hiring companies that can help them Trace back or call Derek dear identity was taken right so if they're able to trace it back to you as the individual or the custodian of it then you know they're still able to come and get some civil civil Refrigeration if you want to call it that and those are the times I do changing because data collection of data how we enter connected as a source as a compass companies and you mentioned the supply chain which is well background or have you of what I do is how do we help the supply chain protect itself against protecting everyone else know if you're just the everyday person out there right now what would be the best advice to give them in reference to cybersecurity and their own personal data monitor your your your information research yourself right I think one of them
Google yourself and see what's out there by Sunday because the information is is easily obtained also to monitor your credit reporting the different facets the difference for the agencies as well do I know there was one that was hacked I understand but you know trying to look into monitoring your name your email addresses I'll be mindful of where you are when you using your computer you know we know we owe everyone looks forward to have internet services but if you in a public place be mindful of what where you are and what you using the computer your information for and those little small things that you can do as an individual and even in your home depend on who your internet service provider is there have to end you can download the security tools that can help with hack the internet users change your password on your router as well your create different different account
in the Bible College segment that we have a guest Network and then you have your home network that will help you as well when you get when you have visitors right that can prevent them from happening you being happy in your own home if you do not often you can definitely go out there and finish helping as a hole in the company you work for you have Monitor and services out there that can help you monitor your heart your information on the dark web dark web I know the bank institution that can help you as well and also to if you pay for the service with the 3 service credit reporting Bureau right with wonderful Regine I want to thank you for being on the show but I also want to ask you you know what there's too many people are drive around listen to the show right now they you know where they work at businesses at work for businesses they might be it people it might be small business owners how can they get ahold of you so they can get your advice Council because you're obviously at the Forefront of all this and why not have somebody at the Forefront that has all the
parents to help me out awesome awesome thank you so much but yes I'm going to website www www llc.com or does he do in it or call us at 407-794-5668 and I will be more than happy to schedule a time with you to discuss it with the businesses and industries and neit Professionals of what's next what are you doing how can we be of value to you and help you see what you don't see why you on the inside and that's the only one other question about your service Ashley you help me with me yes we have and it's a global issue I thought I say it's a planet issue right so yes we do stuff internationally because again what we do is something that every company needs us announced on the global we seen a lot of changes as well on the UK and the EU right across the world
is asking the day twice so there you go. I wanted to make sure our our our our listeners from overseas to have an opportunity to possibly use your service and help you help us so are you can help them sorry I just want to thank you for sharing that information with us I know it's valuable to our listeners and keep being a woman leader in technology I think that's a very very important just you know what just keep leading the way because people need you so bad I want to thank you for joining us thank you for sharing your knowledge and I wish you the best of day and stay healthy thank you Steve and you the same things are Innovative so have a good day wonderful ladies if you need help just go to the website RV advisory.com
and I'll schedule some time with you and have a lovely chat and see if they can help more expert advice for having a happier relationship with money still to come on the saving with Steve show
don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where to be talking about the in an ounce of money does Financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve sex and out of saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon
welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton B advisory hey if you have a cybercrime issue or concern concerned about it with your small business or large business finance Health financial hate go to RV advisory.com estrogen they'll get you on the phone talk to you see how they can help you out now you know what we're going to have some Jeff golub Nexus first hundred percent circular recycling plastic here in the United States this is wonderful you going to want to stick around for that but right now you know what the ultra-wealthy had made full use of an individual retirement account and no according to propublica okay which is an investigative reporting group the indicated Peter Thiel one of the founders of PayPal had five billion dollars in a row
fire as of 2019 after in tooth 1999 I was only worth $2,000 bucks what do you apparently did is use a self-directed Roth account which let him hold alternative Investments are assets like private company shares a PayPal when it really wasn't worth very much or real estate and you know the things he can't regulate best through Fidelio Schwab Roth okay but here's the big thing this thing grew I was at the strategy that you need to know about it's not just available for the wealthy it's available to all investors you know what sometimes it seems like you know rich people can benefit from the tax code and some alter wealthy individuals have been hundreds of millions of dollars or even billions of dollars in tax shelter Rock individual retirement account according to Republic updated again I just want to make this clear the stretch they generally available to everyone who wants to use a cat's lot even said the greatest thing about
it's in everybody's best hack shelter or traditional 401k or an IRA and you only get a tax break when you contribute the money and then pay taxes on the withdrawals when you retire K with a rock skate the count comes with no upfront tax break which means you got to pay taxes on the money put in there but once you put it in there you take out the money is called a qualify withdraw excluded from federal income taxes smell there's limits to there's income limits except for who can contribute directly to Raw investors with higher incomes are be able to convert assets in traditional IRA or 401K says who's your thrall to retirement or texted or nearing can you convert that mean to be $100,000 and an IRA you take $10,000 a paycheck to pay the taxes and I are a rose tax rate as long as you found it for at least 5 years and you're over the age of 59 and a half now mr. Steele
self-directed Roth IRA account that comes with some tax benefits as it's the same tax benefits as a rock Santa Rock account distributions gay but you also allows you to invest in assets that are unavailable in a regular Roth account so here's what I'm talking about when I say unavailable gay you have firms like the Vanguard Schwab they only have traditional stock bonds mutual funds Real Estate Investment Trust and annuities that you can put into a Roth those are not considered alternative alternative Investments are things like you know what PayPal's original shares before it went on the stock market is investing in a secured note it's investing in real estate these are all considered alternative Investments K now so that means they're not available through a specialized can cut his throat it now again not just the way you can do this you can do this every single
a person that lives in this right now can set up an individual retirement Roth gay or Roth IRA K now there's some contrast hear you're the one who's putting in the accounts the rodians will not police you which means they're going to say I hate we're not going to advise you on breaking tax laws that's on you so the reality is either have to get some advice and know exactly what you're doing when it comes to they ask that you put in that account you can sell them at any point okay for Suma Lee at a profit you can use his proceeds to purchase two other investments in that account all under the tax-free Ross and Bella and here's the big thing that you are the person is responsible for their did they add the the is a cancer putting him so if you're buying certain Investments and they go belly-up that's on you and so nobody else but you and if you're bringing Assets in there you have to have those assets evaluated or value before they go into the wrong because the money that they're valued that's what you're paying taxes on before they go on
We Will Rock You got to make sure you're really clear at that okay now once you got that in there anytime after that it's tax-free K even if a self-directed Roth IRA would be a good fit for you you'd still get the tax breaks even if you invested through a standard Roth IRA rules of thumb here for an individual retirement account that there's anything you think it's going to have a high growth potential should go on a ride why because you know what I know some people who purchase shares of a company and I won't go into it the name of the company but no quite frankly my well babe I lost it in Vegas stands for about $10 okay and they put it in wrong name but it's tremendous amount of shares and then they sold it a hundred twenty-seven they made 12 times what they put into at some Hydro that happens with Private Stock a time that happens with even people that have real estate so you really need to take a look at that make sure it's a good fit for you okay
one of the reasons why you want to look at a rock and it's lot of Grease Roth accounts can also help you avoid the uncertainty of where tax rates will be when you retire now hey we've heard our current president talked about raising income taxes and you know what that's probably going to happen somewhere in the next three and a half years I don't know when but if you had money in a Roth you would not have the issues of that would not have to deal with that secondly you have three tax allocations are tax returns once taxable interest income capital gains all that kind of Staff ordinary income tax deferred which is Riley's 401ks annuities and they have tax-free pay if you are to diversify your tax allocation you could end up paying less money on your income in retirement so imagine this your social security income you have your IRA required minimum distribution in, and you have Roth IRA distribution okay on your income from your Social Security
anywhere from 50 to 85% of its sales tax break you're paying all the tax on your card minimum distribution you pay no tax on the distribution to come from your Roth IRA so if you have $100,000 income in 85% of $30,000 or about $26,000 is getting Tax Plus the $30,000 from your IRA is getting taxed when you have $100,000 worth in what you know Lord tax brackets means you can do more and pay less taxes this is a wonderful segment segment was brought to buy scoremaster did you know that the average American is 97.6 and adds to their credit score but had no idea how to do that the data scientist at scoremaster crack the code on how adding 97 points to your credit score is like found money it means fast loan approval huge discount lower interest rates on everything from fire refinancing a home the leasing a new car to applying for a credit card how fast is scoremaster one member races credit score 30
points in just five days another 43 points in a couple of weeks scoremaster is so easy takes a minute to get started and if you hurry you can try scoremaster verfiy try try scoremaster for free see how many points you can answer your credit score go to score master.com stating that score master.com savings savings dick with his work early right back we have Jeff gold who's going to talk to you about how they're going about Trinity Plastics in the oil and wax in the recycling and trash compactor work on more expert advice for having a happier relationship with money still to come on the saving with Steve show
don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the in an ounce of money those financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tuna to the saving Willis TV show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon
welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton has to get here at the saving was Steve show when we talked about the ins-and-outs of money now in the second half of the show we have a special treat for you you know what you could probably look around any City you know what Ford ample it was in San Francisco few weeks ago where downtown we saw all the plastic dispose syringes in the street you see waste if you go out to the beach you seen the big plastic bricks out in the oceans Parks landfills but the reality is that plastic never really breaks down okay cuz this is with landscape land Fishing and More well we have the CEO of Nexus Jeff Cole to walk us through how his company has created the first hundred percent commercial circular waste Plastic Solutions
he's been able to divert three million pounds of land Bill found plastic and turn it into high grade oil that can be used from a multitude of steak so think of this is getting converted and that wonderful you don't have to see it and have too many things that I don't have to destroy parks and fishing fishing fishing lakes oceans and so on so if I want to welcome you to the show and I thank you for being here Steve I appreciate the opportunity and and very very anxious to get going here an idea of what Drew somebody to do what they do so help us with your little background I was late reading a little bit in my understanding is as a kid you were concerned about the climb is that right yeah I need a girl part of a beautiful countryside and I was always outside playing
night and they would break and I was actually at the time it's like so I know no paper kind of breaks down and I didn't really take it much more than that but as I as I got older for some kind of continued there and it was a situation where my professional career has been entirely spent in the environmental remediation business and of course now with it was Nexus do my my my goal and philosophically has been trying to improve the planet by either removing highly dangerous chemicals or should I do with my other company and handling waste issues like we see now with the plastic pollution problem so it's always been just a personality is geared towards environmental restoration and finally the planet I guess really the bottom line
here's a big thing okay we I don't think people really understand the real problem with plastic in a waste could you you know give us an idea of what people want what's really out there what were what were missing cuz too many people look at their own little lives and say hey I'm just live in my own little life here you know I have two plastic water bottle here and throw it in the trash no big deal or you know sometimes it doesn't make it in the trash and put away in an ocean or a lake or the landfill or somewhere out in the forest you know I think you're right now in the United States we only recycle. 9% of the plastic that we produce so that's a pretty abysmal right now in other countries so I'm doing better and we're doing much worse than Europe has it as a pretty good recycling rates but what happens with this stuff is that you know back in the 60s Classics first came about we were as a culture sort of train
great material is cheap to make lightweight throw it out use it once throw it away that's the beauty of it so we were trained as a society to view plastic as something you don't not real valuable and in and we're still kind of overcoming that training that happened earlier now we realize that that natural gas crude oil all that goes into making the plastic and in any other contact we say wow that's a pretty valuable Source weed pay money to pay money to eat our house is too if you are a car if you all these different things will plastic is that same resource it's just in a different form so you know why do we have this problem we have this problem because there's so many forms of plastic comes in many many flavors many varieties and there's a hard for people to understand what's good what's not what's recyclable was not in there is a variation there we can talk about that a little more if you don't want to
Global like for example I look at these numbers and I say I saw this isn't the global consumption for Plastics is like 299 million tonnes okay with look like if you can Envision a square and that's how we get them in our in our facility here to process that you fail to fail is it safe you can Envision a square box at the probably about 6 ft on a side by maybe four feet that would be about a ton of plastic Afters in open compressed in a bag and things like that that's a good way to do things like your shampoo bottle or a ziplock baggies or the plastic bag that you can get at the grocery store so there's a difference in density but when it's all compressed attack together know something of that size probably about it
so here's the question how does Nexus go about breaking down the Plastics in doing that conversion back into oil that is very simple and very complex and are not what we were just saying about the differences in plastic so basically the way we have categorized Plastics least here in the US and elsewhere as well buddy Plastics are broken down into a 127 category number one number two is your shampoo bottle in your luggage let you know we have a pipe store number for polyethylene again this time of low density and that's most of yourself that's your Ziploc bag that's all your crap and all these things like that number five Is polypropylene
water containers and things like that that you get the rigid plastic number six is your polystyrene which is your styrofoam you know you're all your packing material is the plastic like nylon and urethane acrylics and polyester things like that it's all the other tires all sorts of stuff so basically what we take it and how we do this is we take in the two or five and six we taking polyethylene polypropylene and polystyrene those are the only plastic that really convert into either wax or oil which is what we're trying to make the other materials that EEG water bottles and the PVC they break down into products that you're not what they they make other by-products they create these materials it'll clog up our pipes sometimes if we get too much in it PVC break down into acid which we don't like to see it
so how do we do this is very simple is the simple part you sheets of plastic up with no oxygen or at can't have any Oxygen in there otherwise you know I don't know how many zoos are around so if you heat the plastic up with no oxygen around that's what's called pyrolysis and and what I'll do is that plastic piece up and starts coming apart starts breaking apart and it gets smaller and smaller think of it as a long chain of these that your plastic polymer and what did he does when put into the situation and it's just start sniffing that long chain of these apart into smaller and smaller changed when we take them
and when we cool it back down it starts forming the oil and the wax those hydrocarbons makeup you know what, one that people should know his present and we know a lot of pain for my name is eight carbons and that's one of the things that comes out and we get the whole Spectrum everywhere from sa which is very light all the way up to really heavy wax but it's all those products that were after now that's the simple part let me know real quick you know what they're wonderful partner here just so you know did you know that the average American is 97.6 and adds to their credit score but no idea how to get them the data scientist scoremaster crack the code on how adding 30s 97 point with your credit score like found money needs fast loan approval huge discounts low interest rates and everything from buying or refinancing a home to lease a new car to applying for a credit card
fastest choremaster one member racer credit score 33 points in just five days another 43 points in a couple of weeks for Masters so easy to just takes about a minute to get started and if you hurry you can get to try scoremaster for free that's right scoremaster for free see how many plus points you can add your credit score go to score master.com savings at score master.com savings again that score master.com stick with this would be right back with his more Jeff gold and Nexus and Stephen Are Climbing more expert advice for having a happier relationship with money still to come on the same meeting with Steve show
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welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton show hey I want to thank you again for joining us we've got wonderful guests here with Jeff a gold of Nexus he's been walking the through the whole climate and turning plastic bag into oil what we're doing right now is her talking about the contaminant they come from the the the recycle parts that they bring in and how they have to make it work the same way each and every time after your shots at the board meal every day because you know it's the same thing but for his industry it's got to come out the same way so Jeff could you kind of take a step back and you know what that Nexus you receive what's called read stock right Rick in what is feedstock made of a week off in stock are the Plastics that come into our facility and they come in in these Bales I was discussed
earlier they made in these big cardboard boxes sometimes if it's loose and that is all the material that we consider if it's plastic whether it's a little too polyethylene I was just driving or the show playing on the polystyrene all of that comprises the feedstock is what we feed our our process to make it work that's okay so like for example there might be a recycling center or a landfill and you have companies that would go and grab those items for you and ship it to you I mean yeah we we get here and we're based in Atlanta Georgia There is a facility Center for hard-to-recycle materials we get a load from them every week and people you know that works out really well right now your processing about how how many pounds or tons per year
we diverted about three million pounds of material out of the land that we created with that we've created here is kind of the first-of-its-kind so weird we're running we're not running 24/7 yet but we are approaching that now and if we're working through areas upgrade that we're making in the plant we're getting ready we're designing it back right now at the next version the next generation of this plant that will will run absolutely 24/7 this plan that we have now will run that way as well what you think he's upgrade so you know we're running out of her weak bases where we process so I don't know maybe a hundred tonnes of wheat at this point in the scheme of things that we had aspirations and our goals with some of our partners here that are that are looking to take our material of thousands of tons million on a crew your bases in a pretty aggressive schedule 2025
has gold and they're really making a concerted effort to get this plastic out of the environment put it back to you so that it can be you know useful again and then here's here's an interesting throw out about 80 to 120 billion dollars worth of plastic every year that we throw in the land we throw into the water with roll wherever we're throwing it works. So that is a resource that the valuable resource and what we're trying to do and what our partners are trying to do is we capture some of that and then what we do it will I'm going to be a little bit of you is we take this and put it through this pyrolysis process here and we end up with wax and we end up with oil now this oil could be used for fuel but we don't really like that plan we we like to take our oil and see that carbon is in that oil and that wax reuse and the what happens then is what our partners they take it to their refineries eventually and they want to do a proper
they have to make you fat and they take our oil and R wax and now they're making brand-new classic that is identical cuz we're recycling molecule recycling plastic recycling molecules at this point they want to do this they want they want to make products that are using recycled material and you know our goal there is a business is to be able to provide them with them from the question is if you know what I don't financially efficient and it gets to the point with recycling cuz a lot of times you buy recycled things in a little more expensive but you know what is there a is there a point that you get to do when you're doing millions of tons every single year that the cost for this is a low enough or significantly lower to where you know what everybody's just recycling the things that they have and it's going back in
do other people the same Plastics as it was before and it's it's one of those things it's really nice inexpensive it could get to that point and if other companies like ourselves are successful will have that Supply right now as an economic I hope you'll appreciate this is a simple supply and demand situation right now we're one of the few groups in the world able to supply commercial quantities we're shipping out a couple tankers a week here now and there's infinite demand at this point in time there's a virtually infinite Samantha is a very high and that the man is he normally can't even see the other so right now we are we are working just as hard as we can to try to make as much material as we can so that we can help that's why I should rise and and meet up with that demand is that point you're going to see some some pricing changes
set up and everybody's happy with it but you know we talked about that you need to stalk Andy know it's got a submittal you got to want to say you got a supply to be so to speak to make everything work that's why you know what are their recycling plants are there landfills that might be able to help you with that throughout the country absolutely on most of what we take in now is considered post-industrial or post commercial meaning it's coming from facilities and producers that are making pretty much one product is not a lot of other things mixed in with post-consumer is sort of the Holy Grail mean we would like to be able to take post-consumer material that would come from a recycling facility or even a landfill at some point the problem here
you've got metal you got paper cardboard and diapers and all these other things that we are we are getting better and better now at recycle this more and more effort there's a lot of advances technically in that area to make this material that we even at our plant here we pay for our fees we pay a couple pennies and now he wanted to pay fifty cents a pound we could get it on stuff that was really beautiful really really clean you know that our economic model doesn't permit that you know we have to we have to conserve our pennies like everybody else so you know we do pay for Murphy's stock but we were also sorting and we're cleaning material Even in our facility here the first step is a big Shredder and we have a sword line where it where we have folks are up there and they're picking out the water bottles at the sneak through in the pieces of metal and the glass things like that
you know we're going to have to get better on the recycling it and that's also not just the recyclers responsibility on myself a little bit but it's really a responsibility of us as a concealed myself you and listeners we need to get better at recycle and that's also goes hand-in-hand with the manufacturer getting better at making products that can be recycled can be easily identified as being recycled deposit programs in Europe and and so your people are buried there recycle program so far in advance of ours so if it's a it's a combination of being a recycling facility with a more educated consumer and a more I guess you want to say educated manufacturer as well that is making products that can be recycled the Sumer can adequately and responsibly do that so all those things play into the into the equation
around the United States to go bring in the plastic to your doorstep so if a recycler a landfill they said hey we have some of this we'd like to talk to you about it how would we go how would they go about getting in contact with Jeff the easiest way and see if I appreciate you asking that because easiest way to do that is to just started back in 2008 there wasn't a circular Market that was only if you'll calm and you'll be a phone number to contact number there and you'll speak with a woman named Jean Jordan she handles all our stores and she would be more than happy to speak with you if you've got our material you want to bring that is the most pressing issue is where we are going to build a plant in the United States Asia and elsewhere I were looking at all those place is where the pizza where can we get the material that's going to be here today tomorrow 10 years from now so that we know we can justify building a building a plant
perfect that just goes with my next to the plug we just got added to the UK Health Network that has it that the broadcast in 85 countries so I think in like 60 days just episode will broadcast seven times over a period of a week and multiple time zone and some old school country so you who knows maybe somebody's going to call you and say hey come back over here
that's a comfort to you I really thank you for what you're doing for our economy I think you for being on the show and I want to thank you all for joining us today I truly thank you for tuning in to appreciate you letting your friends family Associates know about the show all the replays are available at saving with Steve. You asked if you're enjoying the stories of Health on your information inside at saving with Stephen encourage you guys are Spotify Apple Channel she never missed a show check out a few of our fuel is the UK Health radio BBS radio talk radio in New York City all these networks are dedicated to empowering you to solve problems uplift your spirit and live a life of personal and Financial Freedom also you can follow us on Facebook join the saving with Steve Sexton insiders Club at saving with Steve. Yes to get all the replays exclusive access door behind the scenes videos the whole shot next week we've got Jim Carroll of sad and Chris class you're going to love Chris why he's going to tell you how to travel the world ten cents on the dollar Noble
look forward to seeing you then we got Jim Carroll he's got students against destructive decisions and you know what that's an awesome interview and we're going to look forward to seeing you next week this is Steve sex and signing off with saving with thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that saving with Steve. Us join us again next time as we continue to talk about everything under the sun that relates to you having a healthier happier relationship with money this has been the saving with Steve show hosted by Steve Sexton