The Paul Truesdell Podcast, Current Thoughts, and Links of Interest

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Current Thoughts & Links of Interest

Sunday, November 24, 2024

The Extra and Unique Service

A true fiduciary-based wealth advisor supports clients through home transactions by providing objective, strategic guidance. They help remove emotional decision-making, ensuring choices align with financial goals. By offering services on a fixed-cost basis, they prioritize the client’s best interests without conflicts of interest. This comprehensive approach includes evaluating the financial implications of buying or selling, aligning transactions with broader wealth strategies, and ensuring a seamless, goal-focused process.

Dated

Homes owned by individuals over the age of 75 often reflect design preferences and functional layouts suited to their generation, which may not resonate with buyers in their 50s or 60s. Features such as dated wallpaper, older fixtures, and traditional layouts can appear less appealing to a younger demographic seeking modern aesthetics, open-concept spaces, and updated amenities. Additionally, color schemes, flooring choices, and exterior elements like landscaping may not align with contemporary trends.

Younger buyers often prioritize energy efficiency, smart home technology, and low-maintenance materials, features that may be absent in older homes. Moreover, accessibility modifications, while practical, may unintentionally detract from the visual appeal for some buyers. To bridge this gap, sellers can make targeted updates—neutralizing design elements, incorporating modern fixtures, and enhancing curb appeal—to create a timeless and welcoming environment for prospective buyers

Staging In-Person

An in-person consultation for real estate home staging and interior redesign involves a comprehensive walkthrough of the property, allowing the stager to assess the space’s strengths, weaknesses, and potential appeal to buyers. The process begins with an initial discussion about the client’s goals, target market, and budget. The stager then evaluates the home’s layout, decor, and condition, paying particular attention to areas that require decluttering, cleaning, or updating.

During the walkthrough, the stager provides detailed recommendations on furniture arrangement, color schemes, lighting enhancements, and decor choices to optimize the home’s appeal. They may suggest repurposing existing furnishings or recommend rental pieces for a more modern and cohesive aesthetic. Suggestions for minor repairs, such as fixing paint chips or addressing worn flooring, are often included to ensure the property is move-in ready.

The consultation concludes with a tailored action plan outlining prioritized steps, budget considerations, and timelines. The stager may also offer additional services, such as sourcing decor or overseeing the implementation process. The goal is to create a neutral yet inviting atmosphere that allows potential buyers to envision themselves living in the space, ultimately maximizing the property’s market value and reducing time on the market.

Virtual

A virtual staging consultation provides a flexible and efficient alternative for homeowners or real estate agents seeking professional staging advice. This service begins with a thorough review of the property using photographs or video tours provided by the client. These visuals help the stager evaluate the space's overall condition, design elements, and areas that require improvement.

After analyzing the submitted materials, the stager prepares a customized staging plan tailored to the home’s style, target buyer demographic, and local market trends. This plan typically includes recommendations for decluttering, depersonalizing, and rearranging existing furniture. It may also suggest digital staging solutions, such as virtually adding updated furniture or decor to empty rooms, which can significantly enhance online listing photos.

The consultation often includes specific advice on paint colors, lighting enhancements, and decor accents that can elevate the space’s appeal. Clients receive a detailed written or video report summarizing these recommendations and actionable steps. Many virtual consultations also offer follow-up support, allowing clients to ask questions or refine the staging plan as needed.

This service is particularly beneficial for remote properties or clients with time constraints. Virtual staging enables homeowners to make impactful changes without requiring on-site visits, ensuring the property is visually compelling for both online and in-person showings.

Ten Tips to Make a Home More Appealing Before Selling

1. Declutter: Remove unnecessary items to create a clean, spacious appearance.

2. Deep Clean: Thoroughly clean all surfaces, including carpets, windows, and baseboards.

3. Depersonalize: Take down personal photos and items to allow buyers to envision themselves in the space.

4. Neutral Paint: Repaint walls in neutral tones like beige, gray, or soft white to appeal to a broad audience.

5. Enhance Curb Appeal: Trim hedges, mow the lawn, and add potted plants or flowers to the entryway.

6. Repair and Update: Fix minor issues like squeaky doors, leaky faucets, or chipped paint.

7. Optimize Lighting: Replace dim bulbs with bright, energy-efficient ones and clean light fixtures.

8. Stage Furniture: Arrange furniture to maximize flow and highlight key features of each room.

9. Add Fresh Accents: Incorporate fresh flowers, throw pillows, or artwork to create inviting focal points.

10. Organize Storage Areas: Neatly organize closets and storage spaces to showcase ample storage capacity.

Costs

The costs for virtual staging consultations, in-person consultations, and full interior redesigns vary based on location and service scope. Here's an overview:

Virtual Staging Consultation:

• General Pricing: Typically ranges from $20 to $100 per image, depending on complexity and quality.

• Regional Variations:

• West Coast: Higher demand and living costs may elevate prices slightly.

• East Coast: Similar to the West Coast, with metropolitan areas potentially incurring higher fees.

• Florida: Generally aligns with national averages, though specific markets may influence costs.

In-Person Consultation:

• General Pricing: An initial consultation typically costs between $200 and $600.

• Regional Variations:

• West Coast: Higher living expenses can lead to consultations ranging from $300 to $700.

• East Coast: Major cities may see similar rates, with some areas reaching up to $800.

• Florida: Consultations often range from $500 to $600.

Full Interior Redesign:

• General Pricing: Comprehensive redesigns can range from $2,000 to $10,000 or more, influenced by project scope and property size.

• Regional Variations:

• West Coast: High-end markets may see costs starting at $5,000, potentially exceeding $20,000 for extensive projects.

• East Coast: Similar to the West Coast, with luxury redesigns reaching comparable figures.

• Florida: Full home staging costs typically range from $2,000 to $3,500, depending on the size of the home and the required work.

These are estimates and naturally change based on specific project requirements, property characteristics, and local market conditions.

Fixed Hourly or Procedural or Variable Based on Value

Fixed-cost pricing provides transparency, fairness, and clarity, making it an ideal model for services like home staging and fiduciary-based investment advice and management. Consider a professional home stager: their value lies in transforming a property to maximize buyer appeal, yet no one would pay a stager based on a percentage of the home's value. Similarly, you wouldn’t pay your gardener or housekeeper based on the size or market value of your home. Why, then, do many people accept percentage-based fees for financial advisors?

In the traditional Assets Under Management (AUM) model, advisors charge a percentage of a client’s portfolio value annually, regardless of the complexity or amount of work performed. This model can create conflicts of interest and lead to disproportionately high fees for clients with larger portfolios. In contrast, a fiduciary-based advisor operating on a fixed-cost, procedural basis ensures clients pay only for the specific services provided, aligning the advisor’s incentives with the client’s best interests.

Fixed-cost pricing encourages transparency, eliminates hidden fees, and fosters trust by clearly outlining the scope of work. For a rational, client-focused approach to wealth management, schedule a telephone or video consultation with Truesdell Wealth, Inc. or Truesdell Consulting, Inc.

Call 352-612-1000 to learn how procedural-based advising can benefit you.

Tuesday, November 19, 2024

Monkeyshines and Stinker: Door-to-Door Dreamers

Downtown Ocala, Florida, bustled with its usual mix of sunshine, palm-lined sidewalks, and the occasional eccentric. Among the crowd strode Monkeyshines, a dapper monkey in a crisp navy-blue business suit, polished loafers, and a snazzy tie. His trusty companion, Stinker the skunk, pranced beside him, his tail waving proudly like a banner.

“Stinker, you hear about my cousins up in Georgia?” Monkeyshines adjusted his tie and scanned the street. “Broke outta that zoo last week. No plan. No finesse. Just raw monkey energy. Now they’re stuck in Atlanta, hiding in trash cans.”

Stinker flicked an ear. “Oh, I heard all right. Dumb as rocks, those cousins of yours. They need jobs, Monkeyshines. Jobs and ties. But do we have time to teach them civics, business acumen, and personal grooming? No, sir, we do not. Too many people in Ocala need our services.”

Monkeyshines chuckled. “True enough. Though imagine ‘em in suits, pitching Acme Financial Planners. ‘Hello, ma’am, have you considered diversifying your portfolio with this here multi-level opportunity?’ I’d pay to see that.”

Stinker snorted. “You’d pay with peanuts, and you know it.”

As they walked, Monkeyshines tipped his hat at a passing jogger with a golden retriever. Stinker paused, staring intently at the dog.

“What are you doing, Stinker?” Monkeyshines asked.

“Dog whispering,” Stinker replied, dramatically closing his eyes. “Shhh. I’m telling this fine canine he’s a very good boy. He’s listening. Watch his tail—”

Before Stinker could finish, a distinct odor wafted through the air. The retriever stopped wagging, barked once, and bolted, dragging its owner down the street. Stinker looked sheepish.

“Oops. That’s the problem with whispering: one false move, and it’s a stink bomb.”

Monkeyshines sighed. “Your talent is undeniable, but your timing stinks, literally.”

They ambled down the street, occasionally stopping to hand out glossy Acme brochures or pitch their “Multi-Level All of That” memberships to wary shopkeepers. Around noon, they spotted their favorite prospect, Mildred, a sprightly 90-year-old who always seemed to totter out of Magoo’s Bar and Grill in a cheerful haze. She was a guaranteed sale, provided she’d had enough martinis.

“Stinker,” Monkeyshines said, nudging his partner, “go into the briefcase. Let’s find something for Mildred. She’s ripe for another pitch.”

Stinker hopped onto a bench, flipping open Monkeyshines’ leather briefcase. “We got options today. A ‘self-healing stress ball,’ a subscription to a newsletter about newsletters, and—oh, here’s a good one—a ‘Make Your Own Crystal’ kit that’s 80% glitter.”

“Perfect. Mildred loves shiny stuff.” Monkeyshines adjusted his cuffs as Mildred wobbled out of Magoo’s, holding onto the doorframe for balance.

“Monkeyshines! Stinker!” she called, her voice tinged with delight. “What a surprise! You boys got somethin’ new for me today?”

“Always, Mildred,” Monkeyshines said, bowing slightly. “But first, how are you? The sunshine treating you right?”

“Oh, you know me. Still kickin’, still drinkin’. And this Florida sun? Warms my old bones like a brand-new heater.” She squinted at Stinker. “Is he wearin’ cologne, or did somethin’ die in an alley?”

Stinker grinned. “Depends on your perspective, Mildred.”

Mildred cackled and waved a hand. “Well, come on, boys. Let’s get inside and talk business. Drinks are on me.”

---

Inside Magoo’s Bar and Grill, the trio settled into a corner booth. The place smelled of fried fish and stale beer, with a jukebox crooning an old country tune in the background. Mildred ordered her usual—a dry martini—and insisted Monkeyshines and Stinker have root beers.

“So,” Mildred said, leaning forward, “what kinda snake oil you peddlin’ today? And don’t take offense. I love me some snake oil.”

Monkeyshines slid the glitter-filled “Make Your Own Crystal” kit across the table. “Mildred, this is not just any product. This is a gateway to enlightenment, creativity, and the perfect centerpiece for your coffee table. With just a sprinkle of imagination and a dash of patience, you can craft a crystal so dazzling, your neighbors will think you’ve struck gold.”

Mildred blinked. “A crystal, you say? What’s it do?”

“What doesn’t it do?” Monkeyshines leaned in. “It catches light like a diamond, transforms any room into a mystical wonderland, and—if placed correctly on your mantel—balances the energies of your home.”

Mildred squinted at the box. “How much?”

“Seventy-nine ninety-five,” Stinker said promptly, puffing up with pride. “But for you, Mildred, we’re offering a 10% discount.”

“Why, thank you, Stinker! You’re a real gent.” Mildred reached into her bag, pulled out a wad of cash, and slapped it on the table. “Done deal. Now, how about another round?”

---

As the afternoon wore on, Mildred became progressively looser with her purse strings and her words. By her third martini, she was telling tales about her time as a dancer in Havana, much to Monkeyshines’ amusement.

“You boys ever dance? Monkeyshines, you got the legs for it. Stinker, not so much, but I bet you could twirl.”

“I prefer to let my charisma do the dancing,” Monkeyshines replied. “And Stinker here? He’s got two left feet.”

“And one very active scent gland,” Stinker added, raising his root beer in mock toast.

Mildred laughed so hard she snorted. “Ah, you two are a riot. I don’t know why people think salesmen are boring. You’re the highlight of my week.”

“That’s because we’re not just salesmen, Mildred,” Monkeyshines said, smoothing his tie. “We’re dream merchants. We sell possibilities, ambitions, and sometimes glitter-filled crystal kits.”

“And occasionally,” Stinker added, “we dabble in motivational speaking. For a fee.”

Mildred shook her head, still laughing. “Well, whatever you’re sellin’, I’m buyin’. You boys are a hoot.”

By the time the bar’s happy hour ended, Mildred had bought not only the crystal kit but also a stress ball, a financial planning session, and a dubious-sounding newsletter subscription. As they helped her to a cab, she hugged them both.

“Don’t you boys ever change,” she said, her voice slurring but warm. “Ocala needs ya.”

---

As the sun began to dip behind the skyline, Monkeyshines and Stinker strolled back toward their office, their briefcase significantly lighter.

“Another successful day,” Monkeyshines said, tipping his hat to a passing couple.

“Yup,” Stinker agreed. “And Mildred? She’s good people. A little loopy, but she’s got spirit.”

“True,” Monkeyshines said. “And with customers like her, Stinker, we’ll be millionaires in no time.”

“Millionaires?” Stinker raised an eyebrow. “Buddy, if we’re millionaires, I want my own penthouse. No sharing.”

Monkeyshines chuckled. “Deal. But you’re still carrying the briefcase.”

As they disappeared down the street, their chatter mingled with the hum of downtown Ocala—a pair of unlikely entrepreneurs on a never-ending quest to sell dreams, one glittery crystal kit at a time.

Sunday, November 17, 2024

There’s absolutely nothing wrong with playing it safe—period. It’s perfectly reasonable to believe that a significant portion of your financial fate is shaped by forces beyond your control. And if you prefer to take a more passive approach to money management because you prioritize safety, security, and a steady income over chasing the next big investment trend, that’s perfectly valid.

You’ve likely seen how these so-called “hot investments” can blow up in people's faces—rich today, not so rich tomorrow. If you’re someone who values stability, particularly if you're in a situation where your partner is older or facing health challenges, it’s entirely appropriate to plan for a steady income stream. The reality is, you may need to prepare for the possibility of being alone for many years. And if you don’t base your financial decisions on deep, exhaustive analysis, that’s okay too. What matters is understanding the value of working with a fiduciary—someone who’s fairly compensated, treats you like an adult, and doesn’t talk down to you. Instead, they should teach and inform you, providing plenty of information that’s readily available online and on demand.

It’s also natural to be a bit wary of others, especially given all the Ponzi schemes, the Bernie Madoffs, and the countless rip-offs that have surfaced over the years. You and I both know how often the words “guarantee” or “warranty” get thrown around, only for them to become meaningless when a company goes bankrupt, gets sold, or merges, rendering old contracts null and void. And when someone sues, what does the judge do? All too often, they side with big business, leaving the little guy high and dry.

There’s nothing wrong with believing that sometimes, being in the right place at the right time is crucial for landing the right job, securing a promotion, or getting that much-desired salary increase. Not every bad outcome is the result of a bad decision; sometimes, it’s just plain bad luck. Maybe you invested a month or two before or after your neighbor, doing almost the exact same thing, yet they end up with three times as much money. It’s baffling how those tiny differences—a day too soon, a day too late—can add up.

Here’s the bottom line: you can do everything right in life and still get clobbered. People don’t appreciate just how much luck influences outcomes. Nobody wants to talk about it, but I have no problem addressing it head-on. There’s not a person listening to this who couldn’t have been struck by a drunk driver, a distracted driver running a red light, or someone on the phone rear-ending them, leaving them messed up for life. You could be on your way to the job interview of a lifetime, only to end up in the hospital for six months, and suddenly, everything changes.

Some might say, “Pull yourself up by the bootstraps, stay positive, and fight through it.” But much of that attitude is pure balderdash. Yes, I’ve said it before: if you wake up, you’ve had a good night; if you go to sleep, you’ve had a good day. But let’s not kid ourselves—luck is luck, and some folks just don’t have it. They get bamboozled by money scams, often by those closest to them, or they end up marrying someone who’s lazy, a spendthrift, and can’t get their act together. But heaven forbid you suggest a divorce or change in today’s politically correct world!

The truth is, your actions do influence your financial outcomes, but sometimes, things just happen. As an investment advisor with nearly 40 years of experience, having worked with thousands of people, I can tell you—it’s okay to amble through life cautiously, especially when you’re retired and focusing on income.

And by the way, if you haven’t heard me discuss the five budgets everyone should have, ask me. That’s right—five budgets. Click on the CONTACT form if you want to know more about “The Five Budgets.”

Thursday, November 14, 2024

We’re at the Grille this morning, so we got this up a wee bit early. With that said, tomorrow is the True Estate Documents casual breakfast conversation; you only have a few hours left to secure a spot. Call or text 352-612-1000.

Several Ridge Manor homeowners still underwater a month after Milton

Homeless encampments now illegal in Brockton and Lowell after cities ban outdoor camping

Big-name libs advocate cutting off relatives who voted for Trump — and it's downright unAmerican

Matt Gaetz resigns from Congress 'effective immediately' after Trump taps him as AG, House speaker reveals

Trump Tariffs Could Hurt Shrinking Global Luxury Goods Market Despite seeing a post-recession bump, luxury good sales are declining and may be hit hard by Trump tariffs.

Wednesday, November 13, 2024

CHICAGO - Two people were killed in a shooting Tuesday night in the city's Chinatown neighborhood. LINK

According to police, officers responded to the 2400 block of South Normal around 10 p.m. to reports of a shooting. They located a man in front of a home with multiple gunshot wounds to the body. He was pronounced dead at the scene.

A second man was located in the back of the house with a gunshot wound to the shoulder. He was taken to the hospital in critical condition where he later died.

A preliminary investigation indicates the shooting might have occurred inside the home.

OCALA - Today is the last day to register for the Casual Breakfast Conversation regarding “No Commission Real Estate.” High Real Estate Commissions Stink. If you plan to buy or sell a home in the next five years, you can lock in a zero percent commission realtor now. While there is no such thing as a free lunch, let’s face it, all things being equal, those who pay less have more. It’s true for investment advisors, banks, brokerage, groceries, gasoline, electricity, and on it goes. On a $350,000 home, the seller will pay $21,000 when there is a 6% commission paid by the owner to the listing and buyer’s agent. Attend this Casual Breakfast Conversation to learn how you may qualify as the seller to increase your net by $47,000 using a cooperative and voluntary multi-disciplinary approach. Which is better for the seller’s bottom line: $329,000 or $376,000?

NATIONAL - Per- and polyfluoroalkyl substances (PFAS) are a group of synthetic chemicals that are used in many products and can be found in the environment. PFAS are used in many consumer products, such as food packaging, clothing, carpets, and leather goods. They are also used in industrial products, such as firefighting foam, microelectronics, batteries, and medical equipment.PFAS are persistent in the environment and can contaminate soil, water, air, and food. They can seep into groundwater or surface water and can be found in rivers, lakes, fish, and wildlife. A new federal government study estimates that PFAS may be contaminating drinking water for up to 70% of the about 140 million people in the US who draw water from the nation's aquifers via private or public well. The findings show a potential impact on about 95 million people or 27% of the nation's population. The US Geological Survey sampling and modeling of groundwater contamination found readings up to 37,000 times higher than the EPA's new drinking water limits. In some regions virtually all of those using public systems that draw from groundwater may be drinking contaminated water. PFAS are a class of about 15,000 chemicals often used to make products resistant to water, stains, and heat. They are called "forever chemicals" because they do not naturally break down and are linked to cancer, liver problems, thyroid issues, birth defects, kidney disease, decreased immunity, and other serious diseases. According to some estimates, as many as 200 million people have been drinking PFAS-contaminated water in recent years.