Personal Finance – What Level of Concern Have You Reached?

Galliano’s Hierarchy of Concerns

I want to start out this article by asking, how are you? No, REALLY…How are you holding up with all of this unprecedented turmoil? If any of you readers need to talk, have questions, or need advice, please reach out to me here. (Link will take you to a contact form. Your information will not be shared or used to sell you anything.)

While I am classifying this under Personal Finance, it also has a lot to do with Personal Improvement. We are in the fabled “Interesting Times”. In the midst of a viral pandemic, with an oil price war going on, in addition to the main response in the USA to the pandemic has been to shut down most small businesses. This is not good for individuals nor the economy as a whole. And yes, there have been attempts by the government to provide support, with individual stimulus checks and various SBA (Small Business Association) loans with potential options for loan forgiveness, the implementation was far from ideal. There were large corporations receiving small business loans in the millions of dollars. Some people believe this is the fault of the government. In a way it is, but ultimately, it was left up to the banks who administer these SBA loans to underwrite and approve them. With some understanding of the underwriting process, it seems only natural that the businesses with the best chance of paying back the loans would get approved first and for the largest loan amounts.

OK, now that I have that off of my chest, on to the main topic.

What is your level of Concern?

Where are you with regards to your level of concern? I feel there is a hierarchy, more or less paraphrasing Maslow’s Hierarchy of Needs. I’ll call it Galliano’s Hierarchy of Concern. Depending on your situation, you should be able to relate to the level of concern.

Maslow’s Hierarchy of Needs

Each step in the pyramid parallels Maslow’s, so technically, it is Maslow’s, just through a different lens.


At this level of concern, you are just worried if you will live through the virus, if your immediate family will be able to eat, and you will continue to have a place to live.


This level is fairly obvious, but with a little more. Do you have a job? If you do, is it paying you enough to cover your needs? And if you have a job, is it one that makes you worry about level 1 concerns, like your health and wellbeing?


The next step up is Savings. Are you able to save enough on a regular basis? Are your current savings enough to carry you through should you become unemployed?


This step assumes that you have the previous three steps in hand and under control. It is where you become concerned about retirement. Typically, this step is reached later in life, but not exclusively so. The main questions are “Am I accumulating enough to support me through retirement?” and “How soon can I retire?”.


Similar to the previous step, this step assumes you have the underlying foundation of the other steps under control. Reallocation should be a regular practice for your portfolio to ensure it is optimized for your goals, but in times like these, your concern can also be directed at weathering the volatility and what is the best investment for the current economy.

My advice with all of this, no matter what level of concern you are at, is to take action to improve your current situation. There are no quick fixes, only perseverance of spirit. If you are looking for motivation or direction, checkout my book recommendations. There are more than a few ideas on how to improve your situation.

And, as always, let me know what you think in the comments. Ask questions, tell your story.

If you like my posts, please share them with others and subscribe to this blog.

Personal Improvement – Learn Some New Skills During the Down Time

If you are like a lot of people, you find yourself with a bit of down time thanks to stay at home orders and social distancing keeping people from gathering. I am lucky enough to be able to work from home. With it being a 14 day on, 14 day off rotation, I have had time to add a few skills to my tool belt.

Add something useful to your arsenal that will help you in the future. Some examples are videoconferencing, livestreaming, CRM, Marketing.

Below are some of the things I worked on:

  • Livestreaming – I learned to use StreamYard to allow me to livestream up to six webcams and screen sharing to multiple locations like YouTube and Facebook. My last two posts have links to the videos. It is a nice platform with professional tools.
  • Videoconferencing – While I was pretty familiar with videoconferencing, I was not that familiar with Zoom. I was able to learn a bit about it.
  • CRM – I use HubSpot’s free option for CRM (Customer Relationship Management). Though I previously only used it to track email opens & reads. I learned to manage lists, forms, newsletters, and marketing emails with it. This is going to make managing my local REIA a little easier!
  • Writing an eBook – As part of digging around in my CRM and learning more about it, I ran across a service that helps you to put together an eBook from existing blog posts to use as a lead magnet. I didn’t like the output, so I decided to tackle the project in earnest from a different direction. Look for it in the near future. He working title is “A Small Business Startup Primer”

What types of skills have you added to your bag of tricks so far?

Let me know in the comments or email me directly.

Be safe and take care!

And, as always, let me know what you think in the comments. Ask questions, tell your story.

If you like my posts, please share them with others and subscribe to this blog.

REI – Private Lending with Keith Baker

I did another live stream for my local REIA group and wanted to share it here. The guest is Keith Baker, host of the Private Lender Podcast.

In this video, Keith Baker, Host of The Private Lender Podcast, talks to us about how he got started in private lending, things to watch out for when lending, and his outlook for the future.

Things you will learn in this video:

  • How Keith got into private lending
  • How private lending works
  • Difference between Hard Money Lenders, Private Lenders, and Banks
  • How Keith screens borrowers
  • Keith’s “Trademarked” 3Ps Strategy
  • Why it is good to say no sometimes
  • Why you should always follow your processes
  • What a self-directed custodian is

Resources mentioned in this episode:

You can contact Keith Baker at the following:

Keith Baker

Host, The Private Lender Podcast

The Private Lender Podcast

713-306-4478 cell email

He’d love to connect with you.

Shareable Quotes:

“You’re the CEO of your money, ACT LIKE IT!”

Keith Baker

“People get funny when they talk about their money”

Keith Baker

And, as always, let me know what you think in the comments. Ask questions, tell your story.

If you like my posts, please share them with others and subscribe to this blog.

REI – Mortgage Rates, FED Prime Rate Cuts, and SBA Disaster Relief Loans Title

Mortgage Rate Trends in US

How are you doing? How are you handling the mis-named “social distancing”? We are going a bit stir-crazy. I am probably more used to the isolation and not being able to go anywhere from when I worked offshore in the oil and gas industry. This is a lot nicer than sitting on a floating rig that you have to fly for one to two hours in a helicopter to reach.

Feel free to reach out if you need to talk to someone. It actually helps with the isolation.

Now, on to the content…

Due to the statewide Stay at Home order here in Louisiana, our local REIA are not able to get together for our monthly meeting. So, I’ve decided to move it online, replacing it with a livestream. Since it covered topics that I think are relevant to a larger audience, I’ve decided to share it with this community, too.

In this video, Tim Blanchard, of Allegiance Home Lending, discusses how mortgage rates work, what the impact is from the Q1 2020 FED Interest Rates on mortgages and regular loans, and gives advice on utilizing SBA Coronavirus relief options.

Things you will learn in this video:

  • What affects mortgage rates.
  • What mortgage rates are based on.
  • What drives a change in mortgage rates.
  • How Lenders’ Credit Score Criteria have changed in this environment.
  • SBA Coronavirus relief opportunities for businesses.
  • SBA Streamlined Application Process
  • SBA Economic Disaster Relief Loan
  • Covers Lost Rent

Resources mentioned in this video:

You can contact Tim Blanchard at the following:

Tim J. Blanchard

Mortgage Advisor

Nmls #167432

Allegiance Home Lending, LLC

430 Corporate Dr Suite C

Houma, LA  70360

985-868-5950 office

985-790-5660 cell email

He’d love to connect with you.

If you like this type of content, let me know by leaving a comment.

And, as always, let me know what you think in the comments.

Ask questions, tell your story. If you like my posts, please share them with others and subscribe to this blog.

Verified by MonsterInsights