Announcements
Exchange Student: Chris Nelson reports that we have a host family ready for a student. In order to proceed with the project, we need two positions from our club - a counselor and coordinator. These are important positions and we need to have a commitment soon. A member has stepped up to fill the coordinator role. We still need a Counselor to step up. This will need to be filled by the end of the month to move forward with an Exchange Student. If you would like to know more about this, you can talk to Chris Nelson, Tom George or Tom and Carol Narak, all who have been involved in this project in recent years.
Speaking of Exchange students, Tom Narak reported that on May 12th, exchange students from all over the district will be coming to Des Moines to attend an Iowa Cubs game and will need host families for a day or so. Tom was looking for someone to serve as a coordinator of the host families. If you have any interest in helping with this project, please see Tom. So Far no one has stepped up. There is one person in the club that has volunteered a sleeping room. The students would likely be at your house that evening after the game around 9:30 p.m. or 10:30 p.m. and then their parents arrive in the morning to pick the students up.
Polio Plus: President Brad reminded us of Rotary International’s goal to eradicate polio worldwide. The number of cases has declined from a few hundred to less than twenty. There was a new polio case this week reported.
2018 Polio Case Breakdown by Country (Green Numbers are 2017 Totals)
Endemic Countries –0 Pakistan (2017-8), 1 Afghanistan (2017-14), 0 Nigeria (2017-0)
Christopher Dean noted the event is just two weeks away! The WDM Rotary Club is joining all the DSM clubs in the area for their annual Polio Plus fundraiser at the Iowa Wolves basketball game on February 3, 2018 at 7 PM. It is $2/Beer night throughout the game and Rotarians are encouraged to meet at the Bud area for mingling. Would like to have two per club as volunteers at the event. If you are interested in volunteering let Christopher Dean know.
Tickets are discounted and approximately half of the ticket price is donated to the Rotary Polio Plus Project. Promotions that night include Hoops and Hounds where people are permitted to bring their dog to the game and that there is a special half time performance by K9’s in Flight. Tickets cost $16.00 each of which $8.00 goes to the Polio Plus Project.
It was noted that if you would like to donate your tickets but cannot attend, you can make arrangements with Doug Hillman and the tickets will be donated to Mosaic which will allow intellectually challenged adults to attend the game. We have 21 tickets left to sell of the 75 tickets we are working to sell. Get your tickets today or donate them to Mosiac. If you are after 1/23 please contact Christopher Dean for tickets.
West Des Moines Valley Interact Club: The Interact Club is working on a food drive and a blanket making night. – No new updates this week.
Literacy: Committee chair Fred Maharry mentioned the need for some substitute readers during the first half of February and in April. A meeting was held directly after the club meeting this week. If you are interested in what was discussed reach out to Fred Maharry.
Bike Project: Russ V noted that more to come on cleaning out one of the trailers of bikes so that it can be turned back over to Bob Start’s Business. Thanks Bob for the use of two trailers now for several years....at FREE rate.
Social Event: The next social event is scheduled for January 25, 2018 at the Draught House located at 50th and EP True Parkway. As you are now getting this…Hopefully there was a great turnout and lots of fun for ALL!
Xicotepec, Mexico Trip: Tom Narak noted that one of the students is being funded $1,150 to be able to attend the trip in March. Overall the club donated $850 of this.
Opportunity for a Rotarian to help another Rotarian Finance a Bank: Tom Narak has some information from a Rotarian that is looking to finance a new hotel in Ames. If interested in looking into this reach out to Tom Narak for contact information.
Guest (potential Member): Damion Spilman with GTG Companies attended the meeting today . He is considering membership to the club. Welcome Damion!
Speaker at the Meeting on January 23rd: It was noted Motioned by Greg Kenyon that this would be preferred over social discussion at the club since there wasn’t an official speaker lined up for this meeting.
President Brad Brown - Speaking on Finance
Some History you may not know: Brad has a brother and sister and his family loved to camp. They would take family trips for two weeks at a time. Brad went to Stowe Elementary School and the eventually on to East High School in Des Moines. He ran for Student Government President and exceled at track. He had three offers to go off to college (Kansas City, Iowa State and University of Iowa). Since University of Iowa provided the best scholarship he became a Hawkeye. Brad started out with a Chemistry major but decided after the 2nd year that he really didn’t like it and switched to Financing Major. His Dad and Uncle Painted houses and so in the summer he did a lot of carpentry work helping prep them. One summer while in college he worked for a friend of his Dad that was 20 years younger than has Dad and 20 years older than him. He became his mentor and is still his hunting Partner today. He came out of college selling colored files and PC based imaging scanners for about 10 years then worked for Chuck Betts and Rich Willis for about three years. Then went onto Midwest Equipment for about 15 years as an owner. In 2006 they lost one of their manufacturer reps and he sold the business. In 2006/07-time Brad went into Brokerage which was a tough time at that time due to the market. Ended up that company went out of business but because of Brad’s connections was able to find a job working at Principal where he currently works. Brad noted that his relationships have really helped over the years. Treat People with Respect and they will remember.Financing Knowledge: Did you know the average savings is $10,000 in 401k’s? Brad shared ways that you can get this to grow.
| Typical Household Budget Allocations | Recommended Household Budget Allocations |
Housing - 34% | Housing - 25% |
Food - 13% | Food - 12% |
Transportation - 18% | Transportation - 15% |
Entertainment - 5% | Entertainment - 5% |
Savings (insurance & pensions:) | Savings (insurance & pensions): - 10% |
Spending vs. Savings:
Recommended you save 4% first before you consider spending the remaining 96% of your budget.
Recommend 6 months of income recommended for your emergency fund
How can you find ways to save? - Be a Smart Consumer
- Shop around, Dine out less, Resist impulse buying, Review phone and cable needs, Buy a used car, Budget for Holidays, and Pay as you go
Make the most of the money you have - Manage your debt
- Take Inventory, Pay Off, Pay Down, Consolidate, Refinance, and Monitor
Make the most of the money you have - Improve your personal cash flow
- Build a better budget, save first, be a smart consumer, and use debt wisely.
Ensure the essentials are covered - What is important to protect?
- Property: Homeowner's, Auto, personal Liability
- Health: Medical, Long-term Care
- Income: Disability (was recommended that students should also have this for their college debt)
- Loved ones: Life (make sure you also know where your parents assets are with a document will help in the future)
- Identity: Security
Ensure the essentials are covered - The benefits of Life Insurance
- Pay for final expenses, Pay off Debt, Replace Income, Leave a Legacy, and Plan your estate.
One other note if your spouse has not worked in more than 10 years you will get no social security benefits so it is important to think about Life Insurance if a spouse will be out of the workforce taking care of children and/or parents.