8/26/26 The Business of Building a Better Future

The Moneywise Radio Show and Podcast Wednesday, August 26th BE MONEYWISE. Moneywise Wealth Management I "The Moneywise Radio Show & Podcast" call: 661-847-1000 text in anytime: 661-396-1000 website: www. MoneywiseGuys.com https://www.moneywiseguys.com/ facebook: Moneywise_Wealth_Management https://www.facebook.com/moneywiseguys/ LinkedIn: Moneywise_Wealth_Management https://www.linkedin.com/company/moneywise-wealth-management-bakersfield/ Guest: Jay Tamsi, President/CEO of the Kern County Hispanic Chamber of Commerce & Host of "Buenos Dias Kern County" website: https://kchcc.org/ Buenos Dias Kern County Podcast: https://open.spotify.com/show/033j2FhdqTtXs7QUAlxWLc?si=59d61e337eaf40d7 The opinions voiced in this podcast are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision. The Hispanic Chamber of Commerce, Buenos Dias Kern County Podcast & Jay Tamsi are not affiliated with nor endorsed by LPL Financial or Moneywise Wealth Management].

• 0:00Speaker 00

  Live from the basement inside the historic Woolworths Building in downtown Bakersfield.

• 0:05Speaker 01

  Call or text in at 661-396-1000.

• 0:09Speaker 02

  I need a dollar, dollar, dollar, that's what I need. Hey, hey, well, I need a dollar, dollar, dollar, that's what I need. Hey, hey, said I need a dollar, dollar, dollar, that's what I need. And if I share with you my story, would you share your dollar with me?

• 0:29Speaker 03

  Securities offered through LPL Financial, member FINRA, SIPC. Investment advisory services offered through LPL Financial. LPL Financial and Money Wise Wealth Management are independently owned and operated.

• 0:37Speaker 00

  Now, let's start the Money Wise Show.

• 0:40Speaker 04

  Welcome to the Money Wise Show. We are live from the basement of the historic Woolworths Building in downtown Bakersfield. For the next hour, you are on News Talk 96.1 and 1230 AM, K E R N, streaming live at MoneyWiseGuys.com. You can call or text into the show 24 hours a day at 661-396-1000. We are your hosts. I'm Sharad Waite and

• 1:05Speaker 05

  Seth Perry.

• 1:06Speaker 04

  Seth Perry, S P.

• 1:07Speaker 05

  S P.

• 1:08Speaker 04

  Great, great having you here.

• 1:09Speaker 05

  Yes, sir.

• 1:10Speaker 04

  Good seeing you.

• 1:11Speaker 05

  Glad to be here, man.

• 1:11Speaker 04

  Uh, we always have fun. We're gonna have fun today.

• 1:14Speaker 05

  Oh, yeah.

• 1:14Speaker 04

  We have some interesting headlines that are certainly excited to cover. But before that, we've got some really good listener questions or comments, I guess mostly comments, but let's start there.

• 1:25Speaker 05

  Let's dive in. All right. Hey, guys, I wanted to surprise my wife and daughter and get them some ticks to that sound shower deal for the weekend, but I'm having problem finding the tickets. I'm not the best on the computers, but can, but can Steve send me the link? And it's all ages, right? My daughter is 15, but figured mom would enjoy it. Great interview. And the last time I got out to Okeechobee was a field trip in school 20 plus years ago.

• 1:52Speaker 04

  Uh, very nice. Yes, we had that, we had a guest on yesterday talking about the sound bath or sound shower. We had several different names for that. And it is an all ages, definitely it's an all ages event. We've, I've, I've gone to a few of these sound baths, incredibly relaxing. Think of it like a, like a massage for your, your, for your ears.

• 2:15Speaker 05

  Yep.

• 2:16Speaker 04

  For your, for your auditory canal and, and which is all, you know, connected to your brain and your body. And it's just super relaxing and a very enjoyable experience. I'm sure Stephen has already sent you this information and the link. But anybody else that's interested in attending the sound bath this Sunday here in the basement at Woolworths, it's Sunday afternoon at 2:30 this Sunday, and you can find tickets at givebutter.com? Or is it .org? I think it's .com. Givebutter or okeechobee.org. That's the website to

• 2:55Speaker 05

  Nice.

• 2:55Speaker 04

  To the, to the Camp Okeechobee out there. And there's also, you can go to White Wolf Wellness on Instagram, White Wolf Wellness. And all of those will get you to the ticket, the, the ticketer, which is Give Butter. And all this money goes towards this nonprofit, which is all about rehabbing that, that county property camp out there along the current river. So, yeah, thank you. Thanks for reaching out.

• 3:20Speaker 05

  I know there's, there might be some skeptics out there, but there is science. Science backs this up and I haven't personally attended a sound bath just yet. But you get the same sensation if you're sitting, if you're just laid out by the ocean and close your eyes, like they're literally, it's kind of the same effect, right?

• 3:37Speaker 04

  Same thing. Yeah, like it's a perfect example. I mean, go, go, go sit down on the beach.

• 3:42Speaker 05

  By the river, by the current river.

• 3:42Speaker 04

  Or by the river.

• 3:43Speaker 05

  Yeah.

• 3:43Speaker 04

  And close your eyes and just listen. And it's, it's like a for, for me, it's a forced meditation, uh, which is, you know, very healthy. We talked about this a little bit yesterday, like I'm, I'm, you know, I grew up, you know, here in Bakersfield. I'll call myself redneck, white trash for the most part. We were, we were middle class, but you know, we grew up in a family of eight kids. And, um, in the eighties where, you know,

• 4:11Speaker 05

  The Brady Bunch.

• 4:12Speaker 04

  We were like

• 4:12Speaker 05

  Those were the good times, weren't they?

• 4:14Speaker 04

  And we had four girls and four boys in our family.

• 4:16Speaker 05

  It's like Lord of the Flies back then.

• 4:17Speaker 04

  It was like Lord of the Flies, but I, which I wouldn't change it. I love, I love the way that I was brought up. But I mean, we were eating crap and we, we, we didn't have, you know, schedules and we were, we were hood rats. You know, and all of us kids were just constantly out, you know? And I don't blame my parents, but they couldn't keep track of us.

• 4:36Speaker 05

  Yeah.

• 4:36Speaker 04

  We were just out doing, doing whatever we wanted to do. So I have very, very fond memories of my upbringing, but in part of that, we weren't super cultured. And, um, and so I have a natural, uh, pushback or, or sort of, um, what's the word? Repulsion against anything that's like woo woo or like, how would you describe like woo? Sort of like

• 5:02Speaker 05

  Mystical.

• 5:02Speaker 04

  Mystical. Yeah. Or, or like not necessarily rational or scientific, you know? I'm a little like, okay, whatever, you know, like sure.

• 5:11Speaker 05

  Yep.

• 5:12Speaker 04

  We got that. But like you said, there is a lot of, of, of science behind the idea of, of mindful practices. And there's lots of ways to do it besides, you know, the traditional way of thinking where you're sitting down on the ground with your legs crossed and your fingers in a, in a loop and you're, you know, humming it like there's, there's a thousand different ways that we as, as humans can sort of step away from your mind controlling everything about your life. And those thoughts and those, um, thought patterns and those feelings that you have that are coming from wherever, wherever your brain is going, doesn't necessarily always connect to reality. And oftentimes it's just telling us a lie. It's telling us something that's really not, not true, or we don't, there's no way to verify it.

• 5:57Speaker 04

  And yet we're spending this energy and we see this all the time in finance, you know? People worrying about the wrong things and not knowing what they can control.

• 6:06Speaker 05

  Yeah.

• 6:07Speaker 04

  But understanding those things that you can control.

• 6:09Speaker 05

  I said, I gotta get SpaceX. I gotta get this many shares, this and that. And you say, well, but do you know how your $300,000 401K at work? Do you know how that's invested? I don't know. I said it a long time ago. That's part of the

• 6:21Speaker 04

  Yeah, it's part of the chatter that's in people's brains. And so finding ways for all of us to sort of step away from our own ways of thinking and just get away from that is incredibly valuable. I mean, prayer for a lot of people is, is a very common, regular practice. And I think that's another great way for, for us to sort of get out of your mind a little bit and recognize this is not all about just you and your own thoughts.

• 6:50Speaker 05

  Yep.

• 6:50Speaker 04

  You know, we live in this world with other, other people and other things and so much more that it's impossible for us to comprehend and take in. So I think it's super appropriate for the show for us to talk about mindfulness because it's definitely related to finance.

• 7:04Speaker 05

  It's related to your finances. It's related to your job, which is where you earn your finances, right? So if you can't calm that, that crazy mind and I have always been or always used to be really hesitant. Now I'm a Christian and there's a lot of, um, intermixing of, uh, different faith systems and everything that don't necessarily align with that.

• 7:26Speaker 04

  Yeah.

• 7:26Speaker 05

  But when you, um, when you study the science behind it, and I have learned that what's happening when I get, I call it the committee, when, when Seth's committee shows up, right?

• 7:38Speaker 04

  Yep.

• 7:38Speaker 05

  There's like, you know, we're, we're talking about a few different things up there or worrying. What is happening is my fight or flight system is kicking in. And so by doing, uh, what works a lot for me is just breath work. If I can just sit and take in a big breath for five seconds, hold it five seconds, blow out five seconds, hold it. I only need to do that two or three times. And what, what you're doing is you're forcing your body to chill out.

• 7:59Speaker 04

  Yeah.

• 8:00Speaker 05

  And all of your, your heart rate slows down, your, your blood pressure lowers, your pupils will go back to normal.

• 8:06Speaker 04

  Yeah.

• 8:07Speaker 05

  You know, the hairs on your arm even stand on end when some people get stressed because they literally, their body thinks a bear's chasing them when it was just a, a bad email, you know, from someone, or you've got to pay a bill that you forgot about, something like that.

• 8:20Speaker 04

  Yeah.

• 8:20Speaker 05

  So you're just buying yourself enough time.

• 8:22Speaker 04

  Yep.

• 8:22Speaker 05

  So that your prefrontal cortex, the front part of your decision-making part of your brain can take over and have a, you know, right? And so that's why I'll have to try it sometime and just, just, I was telling Sharad before the air, I want to sit in one of those baths.

• 8:36Speaker 04

  Oh, like sensory deprivation.

• 8:37Speaker 05

  Sensory deprivation deals. I think that would be great.

• 8:40Speaker 04

  Yeah, there's a few of them in town.

• 8:41Speaker 05

  Yeah.

• 8:41Speaker 04

  There's one, I don't know if it's still open, the one downtown here by, by us, uh, over there by Dagny's.

• 8:46Speaker 05

  Yeah, there's several.

• 8:47Speaker 04

  That's another way. I mean, that you have breathing, uh, you know, just pausing and taking, you know, 30 seconds to take deep breaths says enormous amount of magic. That's yoga. That's all that, that's all yoga is.

• 9:00Speaker 05

  Floating in the pool in the summertime. That's one of my favorite pastimes. Just gets one of the few places I can shut the brain off enough to like, ah.

• 9:08Speaker 04

  Oh, it's so great.

• 9:09Speaker 05

  Yeah.

• 9:09Speaker 04

  And it's healthy, you know? And, and, and as opposed to what, you know, unfortunately, what a lot of people do is turn to, um, habits that aren't usually really good for us. You know, that we have, we consume a lot of alcohol, uh, and other, other things to sort of dampen that mind. When there's a natural, easy way to do it.

• 9:31Speaker 05

  Companies, Sharad, did you set this whole thing up with, did you set the sound bath up just for this next comment?

• 9:36Speaker 04

  No.

• 9:37Speaker 05

  This has to do with a big lawsuit you were telling me about where some companies are taking advantage of our brains.

• 9:43Speaker 04

  Yeah.

• 9:44Speaker 05

  Right?

• 9:44Speaker 04

  Yeah. It's, this has been a big news. Talk about the meta.

• 9:46Speaker 05

  Yes.

• 9:47Speaker 04

  Yeah. Facebook has been, it's been a, how many, almost every state has joined a class action lawsuit against Facebook, claiming that this is addictive and harming to children. I mean, you and I don't need a specialist to tell us that that's true.

• 10:01Speaker 05

  But finally, like.

• 10:03Speaker 04

  But the courts needed to sort of figure this out. Meta's been fighting it. Today, Meta has finally agreed to just, okay, they're settling. Meta has agreed to pay out $60 billion. I'm sorry, it's not 60 billion. That's how much it's generated in quarterly revenue. Meta generates 60 billion in quarterly revenue. But today, a landmark settlement with 47 states, including DC, and Meta is agreeing to pay 17 billion in penalties and make major changes to its products so that they do not endanger or lessen the endangerment to children with addictive social behaviors.

• 10:48Speaker 05

  About time.

• 10:48Speaker 04

  No kidding.

• 10:49Speaker 05

  It's about time.

• 10:50Speaker 04

  I know. I feel so fortunate that our kids that are now adults, but before they left the house, they weren't interested in social media. Like, I am so glad for that because that was just, that's a battle that I know is there for lots of parents.

• 11:06Speaker 05

  I told my son Beckham, when he turns 35, he can get a phone.

• 11:11Speaker 00

  Yeah, turn him into a miserable 35 year old.

• 11:13Speaker 05

  Yeah, right.

• 11:14Speaker 04

  Yeah, sort of interesting.

• 11:16Speaker 05

  And they're gonna be including, they're gonna include daily usage limits and restrictions on nighttime use. Those types of things are part of this. Now, how they got that to fly, I don't know because you think of, well, freedom, you know, and our right to, if I want my kid to be on their phone, then they can, gosh darn it, be on their phone. But this is an epidemic that people don't realize. I saw it on the front lines when I was in education a few years ago. And to get the kids' attention away from their phones, you know what I used to do is I would, I put my money where my mouth is. I tried a bunch of different methods. Nothing would work, right? So I said, okay, guys, this is my phone. I'm like you. I get text messages. I get important calls to come and go, right?

• 11:55Speaker 05

  I said, if you ever catch me looking at my phone, if it's not before the last five minutes of class, then I'll pay you a dollar on the spot. And so they got a kick out of that. And I had to retrain myself. I paid out maybe three or four dollars, but I don't like paying people money, right?

• 12:08Speaker 04

  Yeah, yeah.

• 12:08Speaker 05

  For something like that. So I learned, just don't check your phone. And then what I would do, teachers, listen. You set a timer five minutes before the class and give them their time. Let them have their phone time. They can do it as long as it's appropriate. Play their game, check their social media. And then what I did was if a student had their phone out, I would, I wouldn't write their name on the board, but I would point it, I would say, oh, sorry, man. And then I would make it a deal where the classes turned on those that would get out their phones. Because it was a competition thing by classes and I would do a pizza party. Whoever had the, whoever had the least amount of phone violations, right? And, you know, for the most, I'd say 99% of the time it worked, but that is, it's just hard.

• 12:50Speaker 04

  Yeah.

• 12:50Speaker 05

  It's difficult. So anyway.

• 12:52Speaker 04

  You know, Australia, Australia was successful in banning it and making it illegal for kids. I think, and I think it's under the age of 15 to have social media accounts. And it's been, I think it's been close to a year since they've enacted that. And I've followed up a little bit to see how it's working. It's working okay. It's not great. As you can imagine, like, that's not gonna stop a 14 year old from getting what they want. But at least it's given some parents an excuse, another reason for them to go, no, you can't. Sorry, it's illegal.

• 13:25Speaker 05

  Yeah.

• 13:25Speaker 04

  I can't, I'm not gonna, I'm not gonna allow you to do that.

• 13:28Speaker 05

  I got a big idea. If someone out there, one of our listeners wants to take this and run, I'm fine with it. Just give me a little cut. A movie where it's back in the 80s, right? A lot of 80s listeners, a lot of listeners grew up in the 80s, but they introduced cell phones in the 80s.

• 13:44Speaker 04

  Oh, see what happens?

• 13:45Speaker 05

  See what happens.

• 13:46Speaker 04

  Like, like they immediately get an iPhone type product and then you see what happens to society. That's actually a great idea.

• 13:53Speaker 05

  How in the world, okay, so, you know, raised by a single mom, God bless her, she, she kicked butt and did everything she could and she was working, you know? So during the summer especially, it was like Lord of the Flies. We just got to roam around, but there wasn't as many. There's always been weirdos and stuff, but not like today.

• 14:09Speaker 04

  You think there's more weirdos today?

• 14:11Speaker 05

  Oh, I know there's more weirdos today. This place is crawling with weirdos.

• 14:15Speaker 04

  I don't either. I think that.

• 14:16Speaker 05

  Are you serious?

• 14:17Speaker 04

  I'm dead serious.

• 14:17Speaker 00

  I just think that they're thrown out in our face now.

• 14:20Speaker 04

  Yes.

• 14:21Speaker 00

  A lot more, but I grew up with, you know, 80s rock stars and there was a lot of weirdos.

• 14:26Speaker 04

  Yeah, and you didn't have phones. You didn't have ways to track things. We didn't have flock cameras.

• 14:31Speaker 00

  Didn't report everything. We just kind of brushed it off. Hey, that guy's weird. Don't be in love with him.

• 14:37Speaker 05

  911 didn't even start until sometime in the, we didn't even have 911s. But like, how did you call people? Like, I know, yo, pay a phone.

• 14:44Speaker 00

  I've got a page.

• 14:44Speaker 05

  Pagers, if you're a drug dealer, you had a pager, right?

• 14:47Speaker 00

  Yep.

• 14:47Speaker 04

  There is, there is a natural bias, though, that we have that where you tend to think that things are way worse now than they were.

• 14:54Speaker 05

  Like Michael Jordan and Kobe being better than LeBron.

• 14:56Speaker 04

  Yeah, yeah.

• 14:57Speaker 00

  Good story.

• 14:58Speaker 04

  But it's universal. It doesn't matter your age, or what generation you're from. Every generation has been biased towards thinking that the, that the new generation is, is worse. And, and that they're doomed compared to where they are or where their forefathers were.

• 15:15Speaker 05

  I'm thinking about that for my kids and how gnarly the world's gonna be. And I'll bet, like, when my mom was born and my grandpa was, you know, came back from World War II.

• 15:24Speaker 04

  Not how gnarly the world was then. Yeah, the world was way gnarly.

• 15:27Speaker 05

  70s hit, drugs and free S and you do whatever.

• 15:32Speaker 04

  Right. Before we had vaccines, you know, people were dying from head lice or a tooth infection.

• 15:37Speaker 00

  Teenagers and there's all sorts of weird stuff going on.

• 15:40Speaker 04

  Dating teenagers.

• 15:42Speaker 00

  I didn't know until a couple of weeks ago that, you know, Elvis was dating 14, 15 year olds. And I'm like, no, not, not Elvis.

• 15:49Speaker 04

  Well, yeah, I mean, there was, there may still be some southern states where you can get married, you know, very young. And it was, there were just a lot of things socially now where like, oh no, it's just not acceptable.

• 15:59Speaker 05

  Doesn't fly.

• 16:00Speaker 04

  And also you have to look at the statistics. Look at crime statistics and global crime statistics show an enormous drop in crime, in violent crime, murder. And then if you look even higher and higher global level at wars, genocide, those, those are getting way better.

• 16:20Speaker 05

  Yeah.

• 16:20Speaker 04

  And poverty, world poverty has been cut in half in the last 20 years.

• 16:25Speaker 05

  Automobile accidents.

• 16:26Speaker 04

  Accidents have been cut down to a fraction of what they were. Yeah.

• 16:30Speaker 05

  Airbags.

• 16:31Speaker 04

  Now, that doesn't mean we don't have these other challenges. We have other, we have new challenges. We have other things to be concerned about. But it's generally, it's not what, the things that people are worrying about now are not the things that they should be worrying about. That's been my, my experience.

• 16:45Speaker 05

  Man, to just, to just hop on that bike, that it was a Robinson MX when I was in junior high and just to go ride the dirt fields over by McDonald's on White Lane and Gosford.

• 16:56Speaker 04

  Oh, yeah.

• 16:57Speaker 05

  That whole, there was this massive dirt lot there just to the east of where Tevis Junior High is.

• 17:01Speaker 04

  Yeah.

• 17:02Speaker 05

  And there was, you know, dirt jumps and we could just go out there and be dorks and, you know, white firecrackers and.

• 17:08Speaker 04

  Did you go to Tevis?

• 17:09Speaker 05

  No, I went to Actus.

• 17:10Speaker 04

  Oh, that's right. We both went to Actus. Go Americans.

• 17:12Speaker 05

  Yeah, that's right.

• 17:13Speaker 04

  Yeah, and.

• 17:13Speaker 05

  I was at Actus, I was Castle Elementary, Actus, West High for two years and then Stockdale for two years.

• 17:18Speaker 04

  Nice. Did you move or did the, is that when Stockdale opened up and then you moved to Stockdale?

• 17:23Speaker 05

  No, actually, one of my best friends at the time, he still is my best friend, Brian Rash, but he was at Stockdale and I did an open, open district transfer. And then another one of my good friends left West and went to BHS and it was weird, but it was a, man, it was a different world. Cause I, I grew up in West High District. Those were my people, if you will, you know? And we had it a little bit rougher growing up too financially. And, and so then to go where, you know, it's a completely different economic. And back then there was such a disparity. The average median income at Stockdale High was in the 60,000. The next closest was Centennial in around low 40s. So it was just this huge income gap, but just, you know, different stuff, but.

• 18:05Speaker 04

  Yep.

• 18:06Speaker 05

  I'll tell you one thing, man, the kids that have more money, they tend to party just as much too. And like, you gotta be careful there and, and everything. But yeah, we survived.

• 18:17Speaker 04

  Yeah, you did. Barely. We got another message. Should we get to that, Seth?

• 18:22Speaker 05

  Yeah, let's do it. Number two. Hi, this is Larry and long time Money Wise guy. And was wondering, can a grandparent open up one of those Trump accounts for the grandkids? Or is there a better option for getting money into an account for the kiddos? Preferably one that they can't touch until they are an adult. Thank you and I will be listening.

• 18:45Speaker 04

  Yeah, thank you. Good question. So the Trump accounts, I, I've narrowed this down to a real simple answer because this has come up a lot this, the last few months. I would only recommend a Trump account to get that free $1,000.

• 19:00Speaker 05

  And that's from if your, your kiddo is born between, basically anytime during 2025 through 2028. So there's still some time.

• 19:10Speaker 04

  Right.

• 19:10Speaker 05

  And absolutely, that's a free thousand bucks the government's gonna give you to open up this account. But there's a lot of reasons not to just fund that, right?

• 19:19Speaker 04

  There's other gotchas. And one of the biggest gotcha, I believe, is that you cannot touch, nobody can touch that money that goes into the Trump account until the kid turns 18. And then, when the kid turns 18, they can roll it into their own IRA and do what they want with it. And you have no control over that. They legally take possession of that and they can, they can then pull it out, pay the taxes, pay the penalty and do what they want with it.

• 19:46Speaker 05

  So they would get hit with the penalty too because they're not 59 and a half. That's what most people don't understand. It basically converts to a traditional IRA at age 18.

• 19:53Speaker 04

  Right.

• 19:54Speaker 05

  Which, hey, it's great. If it's just for retirement. But again, most people don't have the money to, you know, be funding their own retirement, let alone their kids.

• 20:03Speaker 04

  Right.

• 20:04Speaker 05

  There are other accounts and ways that give you more control over the money. And I hate to say it, anything can happen.

• 20:09Speaker 04

  Yeah.

• 20:10Speaker 05

  Kids, good kids can turn into not so good kids and maybe choose some poorer habits. And if they're handed a big, if they're handed keys to this big account when they're 18, I've seen it in my own life with a really close friend of mine I went to high school with, $80,000 when he turned 18. And it was just, it was a challenge. It was a huge challenge. I couldn't imagine, you know?

• 20:32Speaker 04

  Right. How long did it last?

• 20:34Speaker 05

  Um, I don't know for sure, but you know, it was.

• 20:37Speaker 04

  Likely not too long.

• 20:38Speaker 05

  Yeah. It was tough because no one, there's adults that would get handed that much money and not know exactly what to do.

• 20:44Speaker 04

  100%.

• 20:45Speaker 05

  And education system is not helping at that point in time to educate people on, hey, this is how you invest, this is what you do. And so that's an important part two of having a trust in place for your kids.

• 20:56Speaker 04

  Yeah.

• 20:57Speaker 05

  Is, you know, we're not offering legal advice right now, but it is important that if you do have a trust that it, some people prefer to have it set up where their kids get money in different tranches.

• 21:08Speaker 04

  Right.

• 21:09Speaker 05

  The way ours is set up, they get all the interest from everything that's happened when they turn 18 and then they don't, they get three big payments at age 20, 25 and 30. And that, that puts some control in place.

• 21:23Speaker 04

  Yeah.

• 21:24Speaker 05

  You know?

• 21:24Speaker 04

  Yeah, that's smart.

• 21:25Speaker 05

  Not fun to think about, not fun to think about you and your spouse passing away and oh my God, what was happening to the kids? But the alternative is you don't do anything about it and then it happens to you.

• 21:33Speaker 04

  Yeah. And so for, for our listener that's looking for an alternative or looking for options or anybody, any grandparent, let's say, that's looking to save, put away money for their grandkid, consider the Trump accounts if you qualify for that free $1,000. Other than that, consider other investments, even if it's just a savings account somewhere, right? That you have them listed as a beneficiary, but you have an account somewhere where you're put, you're socking money away to. You can also do a 529, which is a college savings account, which is great because it, you can, can maintain control of that. Even, and even if that kid or that grandkid doesn't go to college, you can still change

• 22:14Speaker 04

  who the beneficiary is, or you can roll that 529 into a Roth. So there's, you have flexibility in a 529 that's far greater than a Trump account.

• 22:27Speaker 05

  Yep.

• 22:28Speaker 04

  And then you also have options for just, just straight brokerage investment account that you can open.

• 22:36Speaker 05

  And, and these numbers we're throwing around, the 529, 401k, 403B, that's literally just the tax code. When you look it up, that's the tax code that allows that type of an account to perform in a certain way. So if you're newer to investing, you can think about these things like your own 401k at work, your IRA, your, your Roth IRA, they're just the vehicle. The investments that you put inside of the vehicle are also important for this listener. What is your goal with that account? Do you want them to have massive retirement money? Do you want them to be able to have it for college? Down payment on a new home? So that's going to help dictate how that money is invested. So you don't take on too much risk.

• 23:13Speaker 04

  Yeah.

• 23:14Speaker 05

  Or too little.

• 23:15Speaker 04

  You know, and we're talking about kids and generational differences. A new study came out that found a certain generation has the highest credit score of any other. I already told you this, so you kind of already know the answer, but it actually surprised me.

• 23:28Speaker 05

  What do you think, Steve?

• 23:29Speaker 04

  Yeah. Do you know what, what generation has proven themselves to be the most financially savvy in terms of their credit scores?

• 23:37Speaker 05

  Ooh, I would say mine, which is like 84.

• 23:40Speaker 04

  Are you Gen, are you Gen Z?

• 23:42Speaker 05

  I'm not sure what those. Gen X is 65 to 80. So I'm right after that. Millennials is 81 to 96. Gen Z is 97 to 2012.

• 23:51Speaker 04

  All right. Well, you're, you're second best, Steve. And millennials are second best. First best, Gen Z. Gen Z has proven themselves to be the, in terms of credit scores. Their credit scores have risen 17 points in the last seven years. That's their, their FICO score, for example. By contrast, boomers and the silent generation had the lowest increases.

• 24:12Speaker 05

  That's if you're 80 to 90, if you're 80 to 100 right now, you're part of the silent generation.

• 24:16Speaker 04

  Yeah, that's right.

• 24:18Speaker 05

  I'll say.

• 24:19Speaker 04

  Overall, the study found that the median credit score is 744, which is the same as it was last year at this time. But hey, way to go, Gen Z.

• 24:30Speaker 05

  Getting it.

• 24:31Speaker 04

  Yeah, they're getting it.

• 24:32Speaker 05

  Getting it, zon.

• 24:32Speaker 04

  Yeah. And I'm actually very surprised that it, that the, the boomer and silent generation has been hurting. All right. Don't go anywhere, we're going to come right back after this break. We're Money Wise.

• 24:53Speaker 04

  Thanks for tuning in. Thanks for staying tuned in to Money Wise. I'm Jared here with Seth. We're joined by our guest, Jay Tamsi. Jay is the president and CEO of the Kern County Hispanic Chamber of Commerce. Jay's been on the show several times. Excited to have him back on. Hey, Jay.

• 25:08Speaker 06

  How you doing?

• 25:09Speaker 04

  Doing great. We're doing fantastic. How are things at the chamber?

• 25:13Speaker 06

  They're doing good. They're, they're doing really good. Um, we're growing and thinking that that's a good thing. So, um, yeah, we're just, uh, really excited about this upcoming event that we have for our, uh, community and our members. And, uh, yeah. And yeah, the chamber's doing really good.

• 25:29Speaker 04

  I'm glad to hear that. The, uh, you know, the, I think, let's go ask you a few questions, then I want, then we'll get to, then we'll get to the, um, event that you have tomorrow.

• 25:40Speaker 06

  Absolutely.

• 25:41Speaker 04

  Well, let's plug the event real quick, because I don't want to forget. 29th Annual Hispanic Business Chamber and Expo. It's Thursday, August 27th at the Doubletree by Hilton Hotel. It's there on Camino del Rio Court.

• 25:55Speaker 06

  Yes.

• 25:56Speaker 04

  It's in the afternoon, goes from, uh, one to four are the business workshops and then four to seven, you have expo and networking. And it, it looks like it is free if you bring the flyer in?

• 26:08Speaker 06

  Absolutely. So, um, we do have physical tickets, um, and that, those are at our office and, and those are given out to our sponsors and, um, but you can go to kchcc.org and you can download, um, the ticket and you can print it out, or you can actually, uh, show it, uh, show the ticket on, on your cell phone when you arrive and then you'll enter, uh, there's two different raffles. So, uh, there's a larger one if you have a physical ticket, if you come in with your phone and you download, uh, the ticket from the, um, internet on, uh, through our website, then you'll enter to another raffle, so.

• 26:41Speaker 04

  Nice. Nice. Got some raffles, got some thing, fun things going on.

• 26:45Speaker 06

  Fun things.

• 26:46Speaker 04

  There's several different breakout sessions. One that just caught my eye is success without sacrifice. Éxitos sin sacrificios.

• 26:54Speaker 06

  Yes.

• 26:55Speaker 04

  That's, that's, it seems like an oxymoron. You know, you always hear success only comes from struggle and strife and pain. And this is, that's be interesting to hear, how can you be successful without that?

• 27:08Speaker 06

  Absolutely. So, you know, it's the practical, uh, it's a practical session and it's building, uh, the healthier approach to work and, um, lifestyle and, and, and your, your personal lifestyle.

• 27:21Speaker 04

  Yeah. Like work-life balance, stuff.

• 27:23Speaker 06

  And wellbeing and how, and health and wellness.

• 27:25Speaker 05

  I loved it, send that one. I mean, that's what most, we see most of, most of our clients coming in and they're, they're working hard and things just get, we were just talking about it.

• 27:34Speaker 04

  Yeah.

• 27:34Speaker 05

  But everyone's busy, you know? Like so busy and it's hard to, um, it's hard to teach yourself to chill out a little bit.

• 27:42Speaker 06

  Yeah. And I think, you know, it's ingrained in our culture. So I think that, uh, those of us, uh, you know, obviously my parents are in their 80s. So I think, you know, it's ingrained in us and it's instilled in us regardless of what your culture background is.

• 27:54Speaker 04

  Yeah.

• 27:55Speaker 06

  I think that it's ingrained in us to work hard, right? So I don't know how I would be able to tell my 82 year old dad that I'm going to take a break.

• 28:02Speaker 05

  Yeah. He's going to be like, you're going to do what?

• 28:04Speaker 06

  Excuse me, you, uh, no, you're gonna, you have to find something to do, you know?

• 28:08Speaker 04

  Yeah.

• 28:09Speaker 06

  It was either when we were growing up, it was either mowing the lawn or, you know, uh, washing the windows. And it's like, you know, there's always something to do around the house. So that's, that's how we grew up. So, um, you know, that's what I tell everybody, you know, that's how, that's how we grew up and that's how we were raised. And so now we live in this world where everything's just rush, rush, rush. And it's just, you know, it's harder to be a son, a father, um, a husband, you know, it's, it's just harder to be a coworker or, uh, an employee or an employer. So, you know, I feel like this session is really much needed and then, and it will show you, we have some experts that are going to come in and on the panel and talk, uh, to our, you know, our guests. And so we usually have a, a full house of, of 50 or more.

• 28:53Speaker 04

  Yeah.

• 28:54Speaker 06

  And yeah, we decided a couple of years ago to do this in English and in Spanish. I know that we are the Hispanic Chamber of Commerce, but we cater to everyone, um, and all demographics and ethnicities. And so we want to make sure that people live well.

• 29:07Speaker 04

  Yeah. And I think it's a good point. You don't have to be Hispanic to be a member of the chamber or to participate in some of his activities, right?

• 29:14Speaker 06

  Absolutely not. Our membership is 60% Hispanic, 40% non Hispanic.

• 29:18Speaker 04

  You match the, the county's demographic, right? You're essentially represent the county as, as a chamber. It's fantastic.

• 29:25Speaker 06

  That, that was my goal for, uh, 13 years ago, when I came in as president, CEO. Yes.

• 29:30Speaker 05

  So there will be two separate sessions or a translator? How, how will that work?

• 29:33Speaker 06

  No, um, there's going to be two separate rooms and one will be in English and one will be in Spanish and it'll be two separate sessions.

• 29:39Speaker 05

  Awesome.

• 29:39Speaker 04

  You know, uh, the, I wasn't planning on talking about this, but I was going to ask you off the air, but I want to ask you on the air, because this is an issue with Money Wise. We, uh, we do not have a Spanish speaking advisor and we have been trying to recruit for five plus years, a Spanish speaking advisor. And, um, and so I, I think it, I mean, we have, we have bigger struggles outside of just have, finding a Spanish speaking advisor that in our industry is just not a lot of new people getting into what, what we do.

• 30:11Speaker 06

  Right.

• 30:12Speaker 04

  So it's not necessarily a cultural thing. But do you, do you have any insights on, um, on how businesses can recruit Spanish speakers?

• 30:26Speaker 06

  Um, yes, well, you just let me know. Yeah.

• 30:29Speaker 04

  Okay. Help us find a Spanish speaking advisor, please.

• 30:33Speaker 06

  You just let me know. Yeah, absolutely. And I think my sister's meeting with one not obviously not with, with, with you guys, but if we would have known, yes, my sister's meeting with one, um, actually this, um, this weekend on Saturday.

• 30:45Speaker 04

  Interviewing?

• 30:47Speaker 06

  Meeting with a financial advisor. Yeah. And it's not that she just, you know, it's not that she speaks, you know, she's bilingual, but yeah, um, yeah, I think that it's really important that you guys do have one. And now I will go and spread the word if you guys are looking for one.

• 31:00Speaker 04

  Please do.

• 31:01Speaker 06

  Absolutely.

• 31:02Speaker 04

  Yeah. And, and it's just some, I'm sure we're not the only business like, oh, there's so many businesses like this. And it's like, we have this huge demographic out there that it, it deserves to answers in their language that they can understand.

• 31:16Speaker 06

  Right.

• 31:17Speaker 04

  You know, and you know, I, I can speak, I can speak Spanish somewhat, but not when I'm getting into finances, it's a whole nother vocabulary.

• 31:25Speaker 05

  Translating the financial terms is tough. It's gonna be very difficult. Yeah.

• 31:28Speaker 06

  Yeah. And you know, um, I think that, um, as I mentioned, the hard work is instilled and ingrained in us. But at the same time, you know, saving money, um, you're saving money for, for college and, and, and your vehicle and, and things like that is so, so important. And also investing for the future, right?

• 31:48Speaker 05

  Yep.

• 31:48Speaker 06

  Um, not everybody wants to work until they're 65 years old nowadays. Um, so I know, you know, most, I know a lot of folks, um, that, um, I'll say I'm half Hispanic and half Filipino. I know folks that are working in the Department of Corrections and, um, you know, for, uh, the CHP. I mean, they're retiring at 50.

• 32:09Speaker 04

  Yeah.

• 32:09Speaker 06

  You know, and so it's important to have that, you know, Spanish speaking person to be there to advise them and see what they're going to do with their money.

• 32:18Speaker 04

  Yeah. You, you mentioned this, uh, I think you just mentioned the other, um, activity or workshop that is coming up tomorrow at the Chambers, um, event, which is show you the money, business finances and loans. This will also be incredibly helpful for a lot of people who either starting up a business or wants to start a business or running a business.

• 32:39Speaker 05

  Especially with all the technology that's coming through. And that's another one of your guys' is this is perfect timing if you can make it to this.

• 32:44Speaker 06

  Absolutely. So, um, we'd love to have you. Um, so we have, obviously, we talked about, um, success, success without sacrifice, but we have the show you the money, uh, business finance and loans. And so that's going to be about preparing a strong resume and a strong application. Um, I think that folks get that confused because you can apply for a loan, but it's how you apply for the loan. It's how you prepare yourself and how someone's going to assist you in applying for that business loan. Um, or, or how to, uh, there are going to be, um, folks on the panel that are going to be talking about grants.

• 33:20Speaker 04

  Yeah.

• 33:20Speaker 06

  You know, there's, uh, there's city grants that are out there that you don't have to pay back. But the other thing is, is that, you know, we really want to make sure that folks understand that you have to pay tax, taxes.

• 33:31Speaker 04

  Yeah.

• 33:31Speaker 06

  You have to pay your taxes when you're a small business owner or, or any, any, uh, you know, business owner or things like that. I think, um, I'll say this, when the pandemic hit and they were, you know, offering the, um, uh, the financial assistance that could be.

• 33:46Speaker 05

  Pay loans and things like that.

• 33:48Speaker 06

  And a lot of our folks, um, you know, had an extension on their taxes or they didn't file their taxes. So then after the pandemic, we were able to go back and have those courses on that because then you weren't able to apply for those, for that, for that money. So again, it goes back to just education. And this is what this, these workshops are all about. It's just educating our community, our members, and, uh, we just welcome everyone to, uh, come on down to these, uh, workshops.

• 34:16Speaker 05

  Now, you're not just the president over there at Bakersfield Chamber of Commerce. You also have a podcast going? Tell us about that.

• 34:22Speaker 06

  Yes, yes, yes.

• 34:23Speaker 05

  The Buenos dias podcast?

• 34:24Speaker 06

  Yes. So I'm actually, um, probably in your shoes in, in a couple of hours. Um, so I have Buenos dias Kern County. Uh, that was started, uh, you know, I had a vision. Uh, I'm all about, uh, storytelling. So if you're a member of the chamber and you're not, uh, participating as much as you probably should, if you want to, you know, grow your business. But, um, I felt like it was important for us to start this podcast and that we tell our stories through other, uh, folks who are within the chamber. So if you're a small business owner or a nonprofit or one of our corporate sponsors, uh, we have a small business academy that we have if you're a graduate of that academy and want,

• 35:05Speaker 06

  want to bring you on the show and are the, uh, podcast so that you can tell your story and what is going on.

• 35:11Speaker 04

  That's cool.

• 35:12Speaker 06

  And so for me, it's really important as well that through our social media outlets, I have a whole team of four that are telling our story through social media. Um, and this is just another avenue on telling our story. And I'm really big on that.

• 35:26Speaker 04

  Yeah. You mentioned that, what was the, um, the, the course that is offered for small business owners?

• 35:33Speaker 06

  Yes. So we have an eight week course and it's our Kern County Hispanic Chamber of Commerce Small Business Academy. And it's an eight week course. It's two hours, um, every week. And we have, um, them in the winter and spring, summer and fall. Um, they're in English and in Spanish. Uh, Tuesdays are in English and Spanish on Thursdays from six to eight. And it's, you know, we begin with, um, how to, uh, create a business plan, how to market your business, how to incorporate your business, how to file your taxes, uh, how to, um, you know, customer service. Uh, and it's just a beginner, a course on how to start your business.

• 36:14Speaker 04

  That's great.

• 36:14Speaker 06

  And we go over finance and all, and all this stuff.

• 36:17Speaker 05

  So how does, uh, small business owner or someone interested join? What's the first step?

• 36:22Speaker 06

  The first step is just to call our office, six, three, three, five, four, nine, five, or they can email, uh, mail at kchcc.org. That it is no cost to attend. We have, um, financial, uh, sponsors, um, and, and these are all underwritten, uh, underwrite that, um, there's, it's no cost to attend.

• 36:43Speaker 05

  That's awesome.

• 36:43Speaker 06

  The only cost is, is your time.

• 36:45Speaker 05

  Yeah.

• 36:46Speaker 06

  So this is, um, you know, we, we've had much success, um, out of these, these courses. We've had, um, small business owners, uh, start up their own, um, you know, we have a, a Mexican candy, uh, uh, owner that, um, took the course and, um, now they're in Walmarts.

• 37:05Speaker 04

  Oh, that's awesome.

• 37:06Speaker 06

  Making millions of dollars.

• 37:07Speaker 04

  Manufacturing their own candy and selling it in Walmarts. That's awesome.

• 37:11Speaker 05

  At West High, I'm not kidding you. He was selling these bags. I know it's pandering maybe against the law, but I bought some, but I think it was, he was charging five or $10 a bag. And basically he was making, uh, his grandma or someone taught him to make the chamoy.

• 37:25Speaker 06

  Yeah.

• 37:25Speaker 05

  The, the, the liquidy, and then he would use, and then he would have different candies on the inside.

• 37:29Speaker 06

  Yes.

• 37:30Speaker 05

  And the, the hot, the hot one was the gushers. So, and at first I saw this red gooey stuff. I'm like, nah, I'm good. But then I tried it. I'm like, holy mackerel, this is really good. Basically pure sugar, but it's got a little spice, a little kick to it.

• 37:43Speaker 06

  Absolutely. But these, these small business, um, academies that we have, you know, uh, folks have, you know, these hobbies, right? And then they come and take the course and they're like, we have to do all of this. We have to file all this paperwork, you know, bit from a business license to, you know, insurance and all this stuff. And so this is what is taught within this work, this, um, course. And so a lot of times it's okay just to keep it as a hobby. And Lord knows, we don't want to add to the unemployment rate.

• 38:15Speaker 05

  Yeah.

• 38:16Speaker 06

  So don't start the business if you're not ready.

• 38:18Speaker 04

  Yeah. Yeah. Understand the different phases of starting, of having, going from a hobby to a business and so on.

• 38:25Speaker 06

  Absolutely. And you're an entrepreneur and you want to become a small business owner. You're a small business owner and you want to grow your business. So we have a wide variety of folks that are in these courses. Um, and, um, we have a lot of success for you.

• 38:37Speaker 05

  Very cool.

• 38:38Speaker 04

  I, I'm shocked to see that the Hispanic Chamber of Commerce started in 1985. So 41 years this has been going on.

• 38:46Speaker 06

  Yes.

• 38:46Speaker 04

  Um, that, I, obviously the Greater Chamber of Commerce was before then. And this is a question I'll ask you. We've had every, we've had every chamber on the show. Uh, there's the Asian Chamber, the Middle Eastern Chamber, uh, Black Chamber, Hispanic, Greater, all of them, right? What is that, what is it that's unique for the Hispanic community that, that, um, that the chamber provides, you know, specifically for that, for that community?

• 39:16Speaker 06

  I think, so back 41 years ago, I don't think I was born yet, but, um, I'm not, I'm not going to age myself. Okay. So I'm not, I'm not going to age myself. Um, so, but, uh, you know, it's my understanding and going through the bylaws and talking to the, a couple of the, um, I think we have two of the founders.

• 39:33Speaker 04

  Oh, nice.

• 39:33Speaker 06

  That are still alive.

• 39:35Speaker 04

  Around.

• 39:35Speaker 06

  Around. Yeah. And, um, it was, uh, eight, eight folks that came together, Hispanic, uh, business owners, and they felt the need that, uh, that they needed representation and they needed, um, they needed to have a chamber and it was catered, uh, directly towards the Hispanic community. And that was 41 years ago. And, and here we are, uh, today. And I think what makes us so unique is that obviously 65% of our county is Hispanic. A lot of them's obviously speaking Spanish, as we talked about earlier. And I think that we have, as you see, the everything that we have, including the small business academy that I talked about, and the event that we have tomorrow, the smart, the business conference

• 40:18Speaker 06

  and expo, we have them in English and in Spanish. Everything is bilingual. We have, our courses are in Spanish and so I think that that's what makes us so unique and is that we are catering, catering towards the Hispanic community. But I also think that as I mentioned the statistics earlier of our membership, it's a reflection of our county. We need each other in this community to survive, whether you speak Spanish or you don't. All money is green. So it doesn't matter what color you are or what ethnicity. We need each other to survive and I think that we just balance each other out through the chamber.

• 40:57Speaker 05

  Especially with downturn in, in oil and downturn in agriculture, now more than ever, you know, needing to come together.

• 41:03Speaker 06

  Absolutely. And you mentioned, um, uh, oil and, uh, we have an, uh, energy and ag academy. So it's an energy and ag academy. And so I think it's really important because a lot of folks think, oh, I'm, you know, a lot of Hispanics work, you know, in the oil industry on the rig. But we want to go out and teach other folks that there's other, uh, jobs out there within the oil and ag industry.

• 41:27Speaker 05

  Yeah. You had a shout out. I joined the chamber last year and if you aren't already involved, you are missing out. Jay throws the best events and my worker relationships have tripled in a year.

• 41:38Speaker 06

  Oh, smokes. That's nice. Come on. Thank you so much.

• 41:41Speaker 04

  I mean, it is a big part of the chambers, um, mission is to just network, basically network, you know, get, connect people, get people together in the same room that can benefit from each other.

• 41:52Speaker 06

  Yeah. And we say your network is your net, your net worth.

• 41:55Speaker 04

  Yeah.

• 41:57Speaker 06

  Your network is your network.

• 41:58Speaker 04

  Yeah. It's very difficult to create a net worth without having a network.

• 42:02Speaker 05

  Interesting.

• 42:03Speaker 04

  Very few people can do that on their own, right? You gotta have, you know, a whole system of, of support.

• 42:08Speaker 05

  Think back, you don't have to answer on air, but if I think back to every job I've had since my first job at the Snow Shack when I was 15 and a half, there's only been two jobs out of however many that I went out and got on my own. It was always who I knew. And that's what I always want to stress to people, man, you've got a network, you gotta get your name out there. Cause you never know.

• 42:27Speaker 06

  You have to. You just gotta get yourself out there and, and attend. And the only thing that can happen is that you get shut down, right? And that's what life's all about.

• 42:36Speaker 04

  Yeah.

• 42:37Speaker 06

  And so, you know, go out there and meet, meet folks, different, different folks. And that's what, you know, like tomorrow's event with our business conference and expo, go out there and mix and mingle and talk to the exhibitors that are out there and make sure that you connect with, with the folks. And so, um, I always say, you know, give out the business card. But if you follow, if you have that follow-up, you're not always gonna make that transaction or make that first, um, you know, you're, you're not, you're not just gonna have, uh, get a deal within that first hour that you talk to somebody or have lunch with someone, right?

• 43:13Speaker 05

  You're building a relationship.

• 43:14Speaker 06

  Building the relationship.

• 43:15Speaker 05

  You're building a relationship.

• 43:16Speaker 06

  And that trust.

• 43:17Speaker 05

  And trust.

• 43:18Speaker 04

  And we have lots of challenges going on right now in the country, in our state, especially here in Kern County. We've mentioned oil and ag that is under attack as small businesses are struggling. We have inflation and, and the inability for a lot of people to be able to afford a lot of the goods and services that us business owners are trying to provide. Is there anything specific that you're really seeing on the radar right now as the president, CEO of the chamber with, with, with its members? And what, what are the, are there, are there any sort of major, uh, or what are the top major concerns that you're seeing among business owners?

• 43:54Speaker 06

  You know, I think it's, it's, it's something that, that we all, we all can say that it's cutting the red tape, I think, for a lot of small business owners and a lot of businesses that are out there is, is that we try to help them cut the red tape with our elected officials in our government and permit, permitting. Um, and, uh, you know, well, shout out to the, the folks that are out there, uh, working with the business owners to open up a business. But I think it's taking about a year, a year and a half or two years to open up a business nowadays.

• 44:27Speaker 05

  Yeah.

• 44:28Speaker 06

  And it is.

• 44:29Speaker 05

  Mostly, mostly California restrictions or federal or?

• 44:31Speaker 06

  It, it's both.

• 44:32Speaker 05

  Both.

• 44:33Speaker 06

  I think it's, it is both. Yeah, absolutely. And, and I see this.

• 44:36Speaker 05

  Never thought about that.

• 44:37Speaker 06

  Yeah. So I, I just came back from a, a convention in Oakland. It's, I sit on the California Hispanic Chambers of Commerce Executive Board. And that is the one thing that we talked about with all the laws that are, that are coming through. And obviously right now, their legislation is, you know, happening right now within the next three days, making, you know, with laws. But, um, just tracking the laws and making sure that we understand so that we can, um, you know, we understand what, what's going on with legislation and making sure that we're, uh, providing that information to our members as well. And, um, assisting them with their businesses so that they can open even faster.

• 45:12Speaker 04

  Yeah.

• 45:13Speaker 06

  You know, and so it's not that people don't want to pay the money to have, uh, you know, get the, the permitting process going and things like that. It's just that there is a lack of resources, I think, out there. And, and obviously people are losing, um, jobs and things like that right now. So.

• 45:31Speaker 04

  Yeah.

• 45:32Speaker 06

  Yeah. So I think, you know, we're there to help them, um, cut the red tape any, any, which way that we can. And, um, I think this is, um, a state issue, a federal issue, and I think it's a local issue.

• 45:43Speaker 04

  Yep. Well, Jay, thank you so much for coming into the show. Really appreciate it. Wish you the best of luck there with the chamber, with the Hispanic Chamber of Commerce. And for anybody who is interested, you can go to the chamber's website to find more information. It's kchcc.org. And again, tomorrow, uh, August, uh, 27th is the Kern County Hispanic Chamber of Commerce's 29th Annual Business Conference Expo at the Doubletree. Check it out. Uh, great information, great workshops and all of that. So thank you, Jay.

• 46:16Speaker 06

  Thank you.

• 46:17Speaker 04

  Thanks for coming in.

• 46:18Speaker 06

  Thank you for having me on. I appreciate it.

• 46:19Speaker 04

  Yeah. Real quickly here, we got a message from a listener. It says, I hope back to school session is treating you well. We at Calvary Bakersfield would like to extend our gratitude to you and your team at Money Wise for promoting and donating to our back to school summer fest event on August 1st. With the help of your media sponsorship, we served about a thousand people in the community and handed out over 600 backpacks to students at the event to show our gratitude. We would like to present Money Wise with a thank you plaque. I'll be sure to drop that off at your office in the next couple of days. Thank you, uh, Jessica there at Calvary.

• 46:50Speaker 05

  And thank you to the listeners. We were just the conduit and, and the listeners stepped up. That's awesome. Thank you.

• 46:56Speaker 04

  Good stuff. Now tomorrow we got another great show coming up. Seth, you're gonna be on here with KP.

• 47:01Speaker 05

  I don't know about these guys. These two guys tomorrow, Seth and Chris. I don't know.

• 47:04Speaker 04

  Hey, you're, you're talking wounded heroes.

• 47:05Speaker 05

  We have a great guest though. Should, the guest will carry us.

• 47:07Speaker 04

  Oh, yeah. Wendy Porter with the Wounded Heroes Fund. Great organization, incredible organization. It's amazing, right?

• 47:14Speaker 06

  She's such an amazing person.

• 47:15Speaker 04

  I mean, this town, with you, Jay, and, and all the nonprofits that we have in here, there's so much.

• 47:21Speaker 05

  I love our town. I love our city. I love our county.

• 47:24Speaker 04

  Genuine grassroots support.

• 47:25Speaker 05

  Yes. Yes.

• 47:26Speaker 04

  It's, we are really fortunate to live in this place.

• 47:28Speaker 05

  Hardworking, good people live here. That's true.

• 47:30Speaker 04

  Yeah. And generous and genuinely care and genuinely, you know, want to do more than just, you know, make money and create their business and be successful. They want the county, they want the city to be successful. So good stuff. We'll remind everybody that if you'd like to listen to this show or any of our past programs, go subscribe to the Money Wise Podcast. It's commercial free and on all major podcast platforms like iTunes, Apple Podcasts, or Spotify. Uh, again, uh, we'll be back tomorrow. Seth will be here with Chris Pelster, talking, uh, with, uh, Wendy about the Wounded Heroes Fund. And again, go check out the Bakers, the Kern County Hispanic Chamber of Commerce's website. And

• 48:12Speaker 04

  if you can, if you need some support and would find this information beneficial, uh, go to, attend their annual business conference tomorrow. As we leave, remember these three things. Be smart, be safe, and always be money wise.

• 48:25Speaker 03

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