Saving with Steve, July 11, 2023
Saving With Steve with Steve Sexton
Guests, Angela Wykoff and, Wayne Dunlap
Episode 137: Angela Wykoff, Reverse Mortgage
Episode 138: Wayne Dunlap, Follow the Disaster
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.
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 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 here is your host of saving with Steve Steve Sexton hello welcome to the same with Steve show and we talked about the ins-and-outs of money pretty much everything under the Sun relates to you having a happier healthy relationship with money my name is Steve checks and I want to thank you for joining us today I want to thank you for sharing it with your friends or family or so ships were well over 600,000 listeners this year in the<br> states were closed over 100,000 overseas and it keeps growing and it wouldn't grow without you so thank you again today we've got a real special show for him one our viewers and listeners blogs have been just blowing up and they want to understand what's going on with reverse mortgages as it relates to a higher interest rate environment and a whole bunch of other things so we have Angela wife she's a 20 year mortgage interest rate specialist and she's a person who understands what's going on what's necessary to obtain a loan use loan products that are you need to your situation more importantly she's an educator she educates people about the whole Barn process really walk people through this intimidating process of obtaining a home loan whether it's a reverse mortgage or what-have-you I'm also going to be talking about the state of retirement and I'm going to give you some really interesting things to think about when it comes to what's going on in the market today<br> welcome to the show thank you for having me Steve how you doing today I am doing wonderfully well like I said before is little going crazy trying to get everything taken care of what I'd like to do is just her talking a little bit about how did you get into this crazy business reverse mortgages for seniors started when I was 13 and I'm Mark 13 down in my book because we had to move in with my grandmother who was the sole caregiver for my great-grandmother and I just watch her struggle she was 49 and she struggled to just help feed her and close her and change bedding and excetera so it was a real physical not only that but emotional drain on her and eventually it got too much and she had to put her in a convalescent home fortunately was in town and we visited her often but when we walked in it was almost like walking in the freezer Department in Costco<br> it was super cold should be screaming and begging us to take her home she would refuse medications eventually stopped eating and she passed away within six months so had we had a reverse mortgage and the ability to bring care to her her end-of-life experience would have been dramatically different so that's that's where my passion lies and I always have the seniors best interest at heart because people can make a lot of money doing reverse mortgage but that's not my goal my goal is to make sure that the loan fits their particular needs cuz you're going to call an 800 number you're going to get an unlicensed representative and the only thing that they have in mind is to maximize company profits they want us to throw a book sum of money at you and send you on your Merry way but you know I dig down to the the heart of the situation what is the money needed for and how can we make it last the longest because if you take that lump sum and run<br> that's it but if you spread it out and you build a line of credit or you set up monthly payments to offset a shortfall each month that money is going to last so much longer I had a particular situation where a gentleman called me because his son was like what did you just do you see he reached out to so-and-so about a reverse that you can even ask me so he's awake please talk to my dad I talked to him and he had called an 800 number and they were like here's two hundred thousand and he was perfectly happy with that and I could say nothing to change his mind well I was like let's talk about what you're really going to do with that money what's your plan and goes well I need 30,000 to fix the roof do some things around the house and then I'm going to put the rest of my savings account<br> and I'm going to draw from it $1,000 a month for my wife's long-term care policy his wife had Parkinson's so I was like, you know what I could take that the equity that you have I can give you the $30,000 closing I can give you fifteen hundred a month for the 10-year of however long you live in the property and by h100 he'll have received 478000 forces taking the initial 200,000 now which is fine but he will save interest $12,000 the first year alone I literally had to convince him to take something that would be more impactful to him cuz I told him I could give you the same loan I can give you 200 thousand but that's not the best way to make this money last for you wonderful Story one of the big questions here are what are the rules for living if you leave the house how long<br> rules are it must be a primary residence if you have a married couple and one has to go to Assisted Living that's fine as long as one Barbara remains in the property if the last borrower does not need care off-site shall we say they just need to notify the lender of their stay so for instance if it's going to be a temporary stay 3 months 6 months just left the lender know and they will keep your reverse mortgage and place the problem is that there's an annual occupancy certificate the sent out each year and when you don't fill it out they're going to start calling they're going to start checking they might even send someone to knock on the door you want to keep the lender informed rule number two is pay your property taxes and your hazard Insurance that's super important anything that would cause a default on the loan so obviously you have to do that with any work is so it's really important to make sure that those items are paid they are not typically handled through the river<br> mortgage we can see if there's enough equity to set it up but it's not like standard the third rule is that you have to maintain the property the city can't come by and condemn you or put a you no notice of inhabitation or you know unable to live there so if you are living in a two-story home on a 5-acre property that might be a little difficult as you age to maintain so then we might actually continue the conversation on maybe it's better to use a reverse mortgage to purchase a right size town instead everybody's worried about we got I real estate prices right now they have to get a reverse mortgage and the real estate prices go down below with actual mortgage value is what happens when somebody passes away what's the impact on the family are they going to have to pay the difference in the mortgage what's going to happen there<br> so that is an amazing question and I get that ass all the time cuz first off everybody thinks that the Bank owes your own your home which it does not you still have ownership to the property just like you would with any other mortgage lien the most important thing to know is that these high interest rates are something you should take advantage of because we have high values we have high interest rates this right now is like the perfect storm for the growth of your line of credit so there's many ways to structure a reverse mortgage one is a lump someone is setting up the monthly payments and three is a HELOC it or I should say home equity conversion mortgage or you can do a combination of the three<br> now that home equity conversion mortgage takes a portion of your equity and it opens it up for you in a in the form of a line of credit the longer you stay in the property the more access to funds that you have cuz I don't want people to refinance as the values increase right they want to assume a 4% appreciation of your home and then every year as you age you gain more access to those funds the growth rate is going to be the interest rate plus a half a percent and so the longer you let it sit there the bigger it gets and you can withdraw that money at anytime even if there's another market crash so for instance if anyone was around during the 2007 2008 mortgage meltdown I was there and the happiest people on the Block were the people that had a reverse mortgage everybody else had their he locks turned off Banks were drawing back on funds not allowing you access<br> but the reverse mortgage is not the case the reverse mortgage is a non-recourse loan so that's very important to understand typical reverse mortgages require a 2% upfront mortgage insurance premium that's why everybody complains that they're so expensive for instance I have someone right now who's buying a million-dollar property there is a $20,000 mortgage insurance premiums it's collected a front and then a half a percent per month these are Protections in place for you so you paid $20,000 up front and let's say as your balance increases you end up owing more than the property is worth and you no longer needs a reverse mortgage cuz you've either left the property vertically or horizontally there's only two ways to leave it right and let's say her her balance is now 3.8 million but the property never appreciates pass 1.8 million so there's a 2 million<br> our deficit there who's going to pay that<br> you already took care of it you paid for 2% Insurance on front that 20 grand wiped out two million dollars worth of that nobody's going to get a bill for that so yeah it's such an amazing retirement to lie I can't say enough great things about it you know your bills are never going to get an heir you're not leaving them debt if anything you're giving the ability to Cajun Place successfully and in the comfort of your own home and most people are saying you know what my children are successful they don't expect anything and they don't want my house great living there until you no longer live in there and then it's a wash everybody sick with this one is for having a happier relationship with money still to come on the saving with Steve show<br> 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 ins-and-outs of money Hills 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 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 as saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show host Steve Sexton hey welcome back to the saving was Steve Kerr when we talked about the ins-and-outs of money I didn't want to truly thank you for joining us and appreciate you sharing this with your friends and family are available at ww.w dot us if you're enjoying the stories of helpful information inside the saving with Steven encourage you to subscribe to your YouTube channel very delicious show again check out a few of our Affiliates at UK Health radio bvs radio talk radio in New York City e360 TV Las Vegas TV network to empower you to solve problems uplift your spirit and live a life of personal financial Freedom also follow us on Facebook at saving with Steve Saxon where the inside of the cloud to get gas kiss behind the scenes things where everybody follows up and has fun and with that we've got some more Angela wife coffee and we aren't talking about reverse mortgages the one of them<br> sings Angela that I want to talk to you about here is this let's just go back to 2008 and we could be right there again if there's a housing crash but so in 2008 we saw housing prices that were really really hot and then they dropped there was one caveat that you somebody told me about and a few of our listeners said hey what about this if the current appraisal of the house<br> is whether it be less than mortgage are more than the mortgage the errors have the ability to buy the house for 95% of the appraised value at the time of death is that correct correct so yes the lender to never recoup more than the property is worth so if the property is upside down through the reverse mortgage that's still okay because the the it's that mortgage insurance that protects the arrows from ever owing more than the property is worth and then The Heirs have the ability to purchase at 95% of present market value so let's take the incense that I had with the purchase is going on right now let's say they owe 1.8 or let's say they do that 3.8 million but the property's only worth one point eight The Heirs can buy it for 95% of present market value and they're not going to have a bill<br> for the overage it's amazing it's it's awesome if you want to keep the house in the family that's the best way to do it and then if the heirs are age eligible they could potentially get their own reverse mortgage of course they'd have to put a chunk down based off you know their age or what-have-you but definitely an amazing way to use a reverse mortgage to keep that property in the family you know what's really interesting as one of the people who wrote into the shower with a little lizards that I want to thank Judy for doing this she had explained that in 2006 a relative took out a reverse mortgage on a $900,000 home and the value of the home drop down to about 350 and it was appraised at 95% of that and all the errors went and bought the home for less than $350,000 and end up selling it three years later for almost $800,000 and it was<br> wonderful economic situation that they were able to truly profit for us to give up the house until somebody told him that so it was just really interesting of you know some people are asking that question because I want to make sure it's true absolutely here's one of the questions that we have some people that go and get a reverse mortgage they end up getting inherits or two they don't want the reverse mortgage anymore okay so what's the process for a payoff a reverse mortgage and moving on<br> so you are in control of your reverse mortgage you can purchase a property using reverse mortgage you could refinance you could pay it off at any time the longer you stand alone no more cost-effective it is because of The Upfront charges however you know 10 years down the road if you want to sell the property and you know travel Europe sure more than welcome to do so you can pay off the lien at any time so if you receive an inheritance and you would like to pay it off and then have a free and clear property again I don't know why you would do that I would still take advantage of that growth of the line of credit but you can definitely have you have the power there's no prepayment penalties and there's no requirement to stay in the loan for any length of time we do ask that you know<br> we want to make sure that it's cost-effective for you so it doesn't it's not a temporary Band-Aid like if you're not planning on living there for the next three to five years I wouldn't recommend a reverse mortgage is not cost effective for 10 to 15 years then yes it could potentially be a good solution next question<br> when somebody goes into reverse mortgage there's always be if you talk about mortgage insurance and that's the biggest thing now what are the other fees and is there ways for people to reduce those things or you know it is what it is<br> the 2% mortgage insurance is only for the adjustable rate now about ninety-eight percent of reverse mortgages are adjustable and the reason is because of that line of credit and the growth that it offers in 10 years most of my clients will have doubled their line of credit for instance I put my mother-in-law in a reverse mortgage and she started with 145,000 in 10 years it'll be over 300,000 untouched so you can use money from it and pay it back much like a credit card if you'd like let's go back to the Duffy's got it the mortgage insurance again protects the heirs from ever knowing more than the property is worth it's an insurance policy you never get a refund on your car insurance or your home insurance you don't use those typically don't have a claim as frequently same thing with the mortgage insurance the mortgage insurance protects you and your ears you pay that one time up<br> up front and it's financed then there's a half a percent that's collected each month and that half a percent actually protects whatever was promised to you from day one so access the line of credit that will not be turned off in less you defaults and then payments like if you scheduled payments for $500 a month to come to you each month and the the values tank that half a percent that you are acquire accruing each month is what protects you from a market crash know which is financed the loan origination fee goes to whatever broker is helping you out and then the title and escrow fees are going to be standard for like any mortgage transaction the borrower can choose their own time<br> company however I would caution you on that I have relationships with certain title companies that offer us discounted fees and they know how to process a reverse mortgage not every escrow and title company does some of the things that people have a concern with our okay<br>you know I received the house is falling down you're not going to get a reverse mortgage what is the financial criteria where does somebody have to be in order to qualify for reverse mortgage cuz you know that's been can if somebody can forward the property taxes the insurance it's not like these are going to be able to afford a room for you get a reverse mortgage but so what are the what's the criteria so it's very different from qualifying for a forward mortgage or a conventional loan because there's no payment there's no required payment so we don't have to take that into account but we do have to take into account the residual income so we want to make sure that they can keep their electricity on and hot water and all of that so there's a calculation and most people qualified just off what they receive for Social Security now let's say for instance somebody's only receiving $800 in Social Security and based off of the life expectancy and the<br> the count of how many people live in the home Etc and maybe they have a you know a monthly payment of a credit card so let's say they're short by like $200 to qualify if they have any assets like let's say for instance they have a managed portfolio that they don't have to touch let's just say they have $200,000 sitting in an account that maybe they're they're not touching it just yet because if they don't have an rmd required we can use that account that 200,000 to offset the shortage and their residual income test they do not have to move that money anywhere it's literally just show me that you have this access to funds and I will it's called asset depletion also at the receiving proceeds from the loan we could use proceeds as a qualifying and compensating Factor<br> so this this one is super unique it's definitely worth a conversation please don't call an 800 number please call a licensed professionals like myself and then we can talk about your options the last but not least if somebody owns a home they might not qualify for it because they got $800 coming in from Social Security but if they sell that home they'll have $200,000 in cash would they be able to go buy another home using a reverse mortgage with having that cash in this whole security provided they need the income okay better question what can I do to be put myself in a position cuz there's a lot of people are looking to downsize and maybe get something smaller but still want to be available if they have to make that transition so we're coming to the end of our time I'd love for you to let everybody know how they can get ahold of you if they like to get information or education about reverse mortgages<br> vs.com<br> I love reverse.com is a secure portal where you do not have to put in your information or sign up for a subscription you can go there to find a way to contact me to send me an email you can also send it to Angela at reverse loan solutions.com but you go to I love reverse.com there is information on Social Security there's information on how to get in the opt-in or the optoutprescreen so that you don't get sales calls you know there's a lot of great information in their previous podcast that I've been on a fake excuse so please do me a favor do yourself a favor go to Isla reverse.com get some education and then there is a contact me button there and I'd be happy to have a conversation and see how a reverse mortgage can best fit your needs<br> Angela thanks for being with us today would love to have you back sometime and I want to stay stay stay stay healthy and everybody what is that portal everybody goes to I love reverse.com thank you so much Angela look forward to seeing you next time you're welcome thank you for having a relationship with money still to come on the saving with Steve show<br> 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 talked about the in an ounce of money does 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 tune in to the saving with Steve show join me Steve Sexton on a 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<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show host Steve Sexton hey welcome back to the Angela wonderful so what are the big things I want to talk about today is what's going on the market watch to think about something here in NCAA and what's happening with me is I'm getting flashbacks to the 1990 so what's been going on with the market since February of this year you know what the Mark has been coming back in fact if you go back to November 2021 you know what the market was it like 4,800 for the S&P now it's getting pretty close to that many of you who haven't learned anything from us three years or at the point where your stocks are value but their portfolio might be Lord because you've been taking money out of it okay to question here is you know what many of you after two-and-a-half years or up<br> back 20 from the Star price gay and folks what is been driving all that give you hints at 2 to letters AI artificial intelligence is driving the market specifically if you look at the S&P there's five maybe six companies that have been driving the bulk of the growth and they're all focused on a i and you know what and they've been driving the market up or did it say it just reminded me of the late 1990s so let's just talk a little bit about the late 1990s like 1999<br> remember what happened okay we bought stocks that didn't make a penny with unrealistic expectations irrational exuberance on the direction of the market moving forward everything every Bell was ringing and nobody was listening to one of the things we do with the you know that we didn't have today we have things that we didn't have in the late 1990s we have incredible markers k99 he's we had GPS we barely use their cell phones you know what we had incredible things like the Schuler PE ratio Warren Buffett's market cap vs. GDP and they were in their infancy back then now they're Staples<br> these technical reports<br> Shiller PE ratio Arctic after tdpr all showings at the market is massively overvalued<br> it isn't completely out of whack versus what's going on right now<br> you know what we're in a repeat of 1990 is not on the same scale but we're getting there how old were you back in the 1990s you know where you working now and it probably didn't mean that much to you because you were working you had a job to support your lifestyle but if you're retired it does today so the question I have to ask you is how many of you can afford to gamble on today and then unreal it with the unrealistic expectations in the market with Factor matter is the number one reason for failing a retirement is not understanding the transition from gross income it's not understand the power of income ideally in retirement you want to make sure your distributions come from dividends and interest the last thing you ever want to do<br> in retirement is cannibalize your principal so the question you might want to ask yourself is<br> can I afford to gamble on what's going on today with these expectations Beyond out of unrealistic to want to thank you for joining us here today on saving with Steve look forward to seeing you next week stay safe stay healthy we'll see you next time bye bye 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's 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<br> 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 or 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 healthy relationship with the money now here is your host of saving with Steve Steve Sexton<br> I want to I want to welcome you to the show my name is Steve Sax in this is the standing with Steve show where were talking about the in and out some money this is all about making sure you have a healthier happier relationship with money I truly want to thank you for tuning in I appreciate letting your friends family and Associates know about her show all repays are available on saving with Steve. You asked if you enjoy the stories of helpful information inside and saving with Steve Langford you to subscribe to BBS radio 24/7 radio talk radio New York City e360 TV in Las Vegas all these networks are dedicated to empower you the stall problem with financial and personal also you can follow us on Facebook and join the saving with Steve sexton in Players Club for more information you want to go to saving with you. You asked to get replays exclusive as their store shows videos<br> next segment all you're going to love this we're going to be talking with Wayne. All this covid how to prepare traveling within the covid environment if you remember we have a vaccine thing appear we've got millions of people have already been vaccinated Millions more will we should be in a position for everybody wants a vaccine waxy habit which gives you the opportunity to start traveling now here's a cool thing if you have issues with wanting to go on that tour and 10 $12,000 it was the one of your dreams you can do it now for 40 50 60% off these have a great refund policies and they are looking to get people booked in on these trips & tours even if they're not full because they want to get people traveling and get their experiences this would be the right time Lanes office going to be talking with us about these are pretty cool to do when welcome to the show glad you're healthy<br> black pants healthy I love this idea of following a disaster and the reason why I love it is because I utilized it could you tell us about the following the disaster strategy thank you for introducing that as you mentioned before or after we retired my wife and I travel the world for a year then it turned into 4 years and there was no way that we could afford travel the same way we are traveling on a two-week vacation so we had to come up with new ideas in the Wall Street Journal prices around the world for some time to travel there the tsunami that wiped out for CAT5 a half The Travelers in North America and Europe cancel the trip to all the time so we started it<br> North to check May and she had a lovely chip Noah here's the thing the cobit crisis is offering amazing fall disaster deals and the travel industry may have been hit the hardest any industry in the and these people are very good deal about the Coopers prices they also amazing refund policy<br> so what they do is up to a certain date you can refund get all your money back and that is for no reason you don't have to have a doctor's going to break your legs you can just canceled and we got two trips going on and we are getting a little worried where the Resurgence of the concerns about October if it were looking at that cancellation date and we just going to cancel it so it gives us all this time to put some chips on our Hopper so we can start looking forward to this. I know you're taking my birthday on Oceania Cruises<br> in the world but we got a deal less and less than how I understand if you have a socially distant it's Amazon okay they don't talk to each other people order is out but if you're in a business that requires social interaction like going out to a restaurant retail travel concert I mean you know how many Live Nation concerts but then I'll have one since February they see the same things happening here with travel there's one Cruise Line is X and giving people free travel to test out their coverage for caution and you're like wow I can get free travel for that how long do you think these Bargains will be out there before things start changing ask what questions do you think it is very astute a lot of things in life what we cost with their concerns and the issues go down for covid-19<br> people traveling because now they don't have to just so you want to get on board but you also want to have a time of a viable trip April we thought that was pretty safe know what I'm looking at right now is summertime 2021 to be that sweet spot that is a time I think with the increased availability of vaccine starting up possibly this month and the by 6 months from now will be widely available also will be out of the standard flu season that has become more feral and stronger in summer time I think that's going to be a really good time so we can look for deals that we could book now for summer 2021 get the deal and still have a viable trip that you're probably going to be able to take<br> and it's very effective it is called travelzoo.com cam okay I got to take a trip with two of the professional who travels you and these are very dedicated professionals do their crap and then bet all the companies they recommend they go on those trips and they work with the same know they're decent companies are not going to go do what they do for every provider even without Tober they know there's certain times a year they can't sell the product or this price has come up until they offer discounted discount if you don't have to take them they have international Ileana Travelzoo we've done domestic deals<br> okay so when should people be planning our travel to take advantage of these travel Bargains you think this is going to be why would it make sense that people are looking for the opportunity travel how long do you feel it'll take for us to get to a point where they're traveling like they were use the same situation I mean I don't think the world has the experience and there's a lot going on because it's a really good deal why not get this Dennis refund policy and I think it's a great opportunity but travel is to put some things in the bucket list and look forward to travel if I was just thinking why you're talking about it's almost like Cyber Monday like 40 50 60% off why wouldn't you I mean ever since it started I know people who have actually read<br> because they're only paying $0.30 on the dollar I have a friend of mine who buys a $300 shirt and go Steve I was saying 60 bucks for these things if you can do that with travel it's even better cuz I frankly depending on how far they go I would probably end up booking for the next year-and-a-half to buy could and you can save money on travel travel more and I want to say before we start off of this whole disaster lot of people look at into these poor people there they're not getting much is a used to what I have to say to that is that we've done a lot of followers after the way we were around the will travel further for four years among a lot of other but when you get out there and one of these situations and after that bombing<br> people were so I can see it they feed their family that's what he's getting no money and now they're getting some money for the hotel room they bend over backwards for you so follow the disaster is so wonderful because it's a win-win situation as Travelers get a chance to get a benefit of grape grape travel bargain and people start getting some revenues that support their families it's really good that's what we think it's just one of the best travel ideas cuz people wait too long after a crisis opportunity want to stick with this we got more of Wayne Dunlap<br> more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> 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 ins-and-outs of money Hills 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 tune in to the saving with Steve 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 as saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show host Steve Sexton<br> go to welcome back to the shaving with Steve show I want to thank you for joining us a way you were talking about chip you provided about going to stores these trips and cruises cuz you just talked about one that you book that's going to be going off in September October November of next year it's a very expensive Cruise she almost getting it for 60% off so if you're looking to go on a special Cruiser tour I recommend you go to their Facebook page or the company's travel pay start looking around because there's algorithms there then I'll keep sending you what you sending you that discount just like when we talked about with Wayne it's called vacation and don't explore that have a great experiences so again welcome back of the show Wayne thank you so much for joining us let's start talking about some staycation<br> we talked about booking some travel for the future and getting some things into your travel folder and thanks for being dissipation and finding some great bargains and a generous discounts but maybe we should do it next summer I care what about I mean we've been traveling for months and now I'm going to your town in your geographical area from all around the world it's been a lot of money to fly there and their chirp and what we was the Jazz Dazz maybe you can have a local ship local vacation in your own area and we just came back from a really nice trip just like that regulo that's right down the street that's about an hour and a half drive away and i l a maybe 2 or 3 hours and Temecula has the atmosphere<br> romantic dinners made in our room for I mean how safe is that I got a lot of points from Pat for that and the thing about that is is that we got away from home to travel to Temecula as a lot of things going is blue Rises Gourmet Restaurant Vineyard and I bet everybody wherever you're from weather in Chicago New York away are we from Geographic Larry you been thinking about you man take in a day<br> Easter is the wineries and actually know about the in you're talking about it's a wonderful place the nice thing about right now is you can get some really great deals if you're doing just that we had some friends of ours just go to Big Bear went to the zoo they went hiking it was one of those things where they were able to get away from LA and be ready to pontoon boat just hang out on the lake for the day it was great and the nice thing about local travel and you have minimal packing no plane ride and there's no security lines at airports excetera so for a fraction of the cost you can enjoy a travel trailer has experienced what other ideas can you offer local Travelers couple ideas one thing is that the people that do this<br> my wife and I have done and what you do is you not necessary to travel outside your town or city whatever you find something cool atmospheric example in here in San Diego we have a little Eric called Little Italy and if I next to the Embarcadero with seafood and then slide next to downtown with bars and other things you can go down rent a little hotel room for a couple nights explore the area and I'll tell you find out a lot more things to do in town and have a lot of fun if you just went down there for a date if you just went down there for lunch or something like that so you can either stay at home<br> we're having a Unique Travel experience within a couple of hours so how do you research for places to stay on the internet just so much information it says adjust volume is in his wonderful to travel so here's what I did or whatever your favorite search engine and type in day trip San Diego Trip Chicago come up with some ideas and then go from there I think it's really interesting that you're saying that because I was just talking to my folks who live up in the northern Orange County area and they like Cabin Fever here in our house and they took a drive just down to Newport Beach at the coast are you know what it's changed a lot we walked around checked out the boat it was a great little day hanging out I think<br> and they said you know it was great for cheering or Cabin Fever it is people ask me how do you find places where to stay on on a stay vacation on a local vacation trip or whatever and we just couple resources very practically what is called Airbnb Airbnb is most likely I asked about it I get almost a hundred percent people like it that people went out to the room on the side or are they have to go out of their way to have a little book that shows the local restaurant they like it shows the things you do they give you the phone number to have any question you don't get that from the second thing is that we like travels you like we mentioned before and you can put in a local so we type in San Diego and travels through and it also gives us Local Deals as well as domestic and international<br> you're going to look the travel air travel right now what airline are you looking at when's the best time to book air travel especially during this time very interesting question where do I get a different Airline what happens is that all sin will be looking at something about ready to book it and then what's in the past they canceled the trip some things like that so so all the airlines are up and down and that's why I'm suggesting for a longer-term travel maybe next summer then then the airlines are having lots of availability now I just saw Southwest just came up with my wife and so it's going to be up and down and everybody has their own favor Airlines right now I it's hard to say which one is faster than salsa me what the rule if they've got enhanced filtration systems inside there and stuff like that<br> is there not going to be we circulated as much as the name of the airline industry is this is what I hear and it's all good and bad and working out the mistake about the good I'm looking forward to it he Wayne as always thank you so much for sharing these wonderful strategies for people how they can save money by just getting out and do a staycation I think it's wonderful that people can save thousands of dollars of filling the travel dreams they have so I want to thank you for joining us today is there a wonderful one thing is that we have a child walk on unhook now.com and what I want to do is that we make no money doing this every time I get back I did a couple computer as I get back to the world as they help people travel the world and unhook now.com IS250 places that we want about the history of pictures taken<br> and the chips that we talked about today are augmented by a bunch more tips about how to save money and joy travel more so that's how to unhook now and everything on there we get no endorsements we get no money to just any of those things those trips to the same chips that we use to find Bargains and deals that you can use on Cypresswood I want to thank you for joining us today if you would like to hear more from Wayne Dunlap you could always go get his book an Amazon it's a big-time Cellar again that plan your escape the guide to traveling the world the lesson would it cost to stay at home or if you like great travel information. If you want to go to his blog unhook now.com that unhook now.com begin Wayne I want to thank you for joining us we really appreciate being on the shelf and remember smart financial decisions impact the quality of your life now<br> more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> 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 she ate it 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<br> DOT us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show host Steve Sexton<br> hey welcome back to the show wasn't Wayne Dunlap wonderful right after my next segment were to be talking to Steve separate a Greenspan's adjusters International public adjuster to help people if they're dealing with wildfires disasters the whole shop get the most out of their insurance coverage at some point in their adult Rhys often<br> when adults first start out many parents have had to learn the hard consequences up or money management hey me and cluded it could have been when they know you fell behind on rent or you got over the head with credit cards if you want your kids to Boise's pit balls then you need to start teaching financial literacy sooner than later reason why sooner is research suggests that many more financial habits are set by the age of seven good habits are for a lie because harder and harder to point your kids in the right direction now you pair then how do parent is the value of a dollar in other key lessons well I've come up with a few things that you can go over to take you out and take immediately to put the right in there to put them on the right path so first of all we want to make sure they are in their Lounge regarded as one of the most important lessons you can is still my child is the money is not a finite resource<br> is a finite resource is only so much of it when they have to work for the money as you likely do they'll learn to use it more carefully lots of parents are they have the supplying their kids with weekly allowance is a great budget skill even better would be making them early money by doing chores drawing the mental connection between income and personal effort is something that will pay huge dividends when they grow up and obviously move out on their own<br> you don't need a bundle of cash in your while to come save the fraud jobs and for the house you can make it a game by getting an app such as busykid to let you sign dollar amounts each tax which as it allowance when they completed obviously you can encourage part-time gigs morality is high school to tie a busy time for adolescents with homework at your activity sporting up a substantial portion of the week still if they can just spare a few hours to work at a coffee shop or a retailer they're probably better off for it for one thing they'll be less inclined to blow their cash on frivolous things when they have to put it in some serious work to get it<br> you don't need to wait till they're old to form an employment for former employment you may find that your middle school early high schooler can earn extra Box by mowing lawns or walking the neighbors dog you can go to the website says next door and even the newsletters from homeowners association can be an outstanding way so you can act with local residents need a little bit of help at the point<br> that they start earning a paycheck you could also help them understand the value of saving and introduce him to the concept of the time value of money and you could do this through apps like Greenlight one of the way parents are doing this if they're saying hey look I'll match what you put in there so if they put in $10 your Mansion $10 on some people even sent him a Roth IRA wonderful so they can see that I'm a compounding of money and what it could mean some down the road<br> Calvin contribute to purchases<br> nearly every parent knows it was like to go into the store and have a good guy lost his mind my my mommy mommy mommy will there be a toy video game or some piece of clothing<br> and you shouldn't be surprised with this younger kids a chick or do not yet understand that only so much money mom and dad only have so much money each month<br> they only have so much money for discretionary things one way to get the point across as to make them contribute<br> twisties non-essential items is not their birthday or Christmas tell him they have to pay half half the cost for a new toy these the clothing or some accessory you kids will be better off that have a better sense of what they can things actually cost what becomes important to them also learn that they have to save their allowance make bigger purchase and they have to part prioritize just like you do hey who said learning about Finance had to be boring even board games can help learn the importance of through senior like you know Monopoly but there's wonderful apps like Henry there is wonderful apps like Greenlight Kidz Biz all those to help your kids have more fun while you're paying attention to it and you know what we had a great show with Wayne Dunlap financial literacy for kids hope you have a wonderful week look forward to seeing you next week all right see you soon<br> 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<br>