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Simple Rules to Place Your Money with Purpose · HPK Provident Advisors: The Weekly Bull

• 0:03
  SPEAKER_00: Welcome to HBK Provenate Advisors Friday Live.
• 0:08
  SPEAKER_00: I'm Brian Peluso, one of the partners of HBK Provenate Advisors with offices in the Pittsburgh, Pennsylvania area, and on both coasts of Florida, actually, on the East and the West Coast.
• 0:20
  SPEAKER_00: So every Friday we get on Facebook, on a social media, uh talk a little bit about the markets, talk a little bit about financial planning, just some ideas for you to consider uh for your own situation.
• 0:32
  SPEAKER_00: Uh normally we have two or sometimes all three partners.
• 0:37
  SPEAKER_00: Uh however, David Harper, one of our partners, is not available.
• 0:42
  SPEAKER_00: He uh lives in the Sarasota area, but he was on the Atlantic coast of Florida all week, uh doing some travel and seeing some folks.
• 0:49
  SPEAKER_00: Uh Michael Kutch, who is another one of the partners and our portfolio manager, uh had a little house situation, had a tree come down in his backyard, go onto the fence.
• 1:00
  SPEAKER_00: And so he's dealing with that.
• 1:02
  SPEAKER_00: I think it uh knocked out his internet, is what happened.
• 1:05
  SPEAKER_00: So you got me today on Friday, October 10th, 2025.
• 1:09
  SPEAKER_00: Of course, it's a breast cancer awareness month, thus, the pink shirt.
• 1:14
  SPEAKER_00: Um, so here's what we do is during the week, we put out some social media posts uh talking about uh, well, each Monday, Mike does the week ahead in the markets.
• 1:25
  SPEAKER_00: I'm not going to cover a lot of that today, actually.
• 1:27
  SPEAKER_00: Uh, I will leave that to Mark, uh to Mike.
• 1:30
  SPEAKER_00: That it's a relatively light week uh in the markets.
• 1:34
  SPEAKER_00: Uh good thing.
• 1:35
  SPEAKER_00: Of course, we have the government shutdown going on right now, which does not appear to have uh tremendously negatively affected the markets, but we'll see.
• 1:45
  SPEAKER_00: The longer that goes on, the more challenging that becomes.
• 1:48
  SPEAKER_00: Uh but then also during the week, we put out some uh social media posts about financial planning.
• 1:55
  SPEAKER_00: We talk a little bit about just uh interest uh topics of interest.
• 1:59
  SPEAKER_00: And uh you can find those right here on our website.
• 2:03
  SPEAKER_00: So this is www.hpkprovenent.com.
• 2:07
  SPEAKER_00: Uh right along the top, and then there's a lot of things you can learn about us, how we uh operate, how we help folks, the services that we provide, and right under resources, you can go to our blog.
• 2:19
  SPEAKER_00: And uh for example, there's Mike's week ahead for this week.
• 2:23
  SPEAKER_00: David did a really great post on kind of the history of gold rushes.
• 2:27
  SPEAKER_00: There's no recommendations in there.
• 2:30
  SPEAKER_00: Um, it's just um gold rushes mostly here in the United States, and why a lot of folks uh have such an appreciation and an affinity for uh for gold.
• 2:44
  SPEAKER_00: Uh I talked a little bit about uh financial planning and how it's uh more about time than it is about money.
• 2:51
  SPEAKER_00: Um, you know, and I'll go ahead and tackle that one a little bit.
• 2:54
  SPEAKER_00: So what I'm doing is each Thursday for the next seven or eight Thursdays, uh I'm gonna talk about financial planning.
• 3:01
  SPEAKER_00: Of course, when you think about financial planning, there's many different components.
• 3:05
  SPEAKER_00: Uh the most basic components are cash flow, uh protection.
• 3:10
  SPEAKER_00: So this would be insurance, whether that be uh life insurance, insuring your money in some way.
• 3:16
  SPEAKER_00: Uh it could be home, car insurance, health insurance, things along those lines, a very important thing.
• 3:22
  SPEAKER_00: Uh investments, retirement planning, uh, retirement income in particular, when you don't have a paycheck for work, where are you going to get money to live?
• 3:31
  SPEAKER_00: Um, tax minimization ideas, tax strategies, uh, and then estate planning.
• 3:37
  SPEAKER_00: Those are the main components.
• 3:39
  SPEAKER_00: And if you think about um your most limited resources, I was a student of economics in college, and economics is really very simply defined as it's the study of the efficient use of limited resources.
• 3:52
  SPEAKER_00: Our most limited resources are time and money.
• 3:55
  SPEAKER_00: When people think about financial planning, and they think about the money side.
• 3:58
  SPEAKER_00: Okay, I've got money, how can it grow possibly?
• 4:02
  SPEAKER_00: Um, how can I use it efficiently?
• 4:05
  SPEAKER_00: If I save some now, how much can I expect to have later and things along those lines?
• 4:10
  SPEAKER_00: I often look at it from the time perspective because that is truly our most limited resource.
• 4:16
  SPEAKER_00: So the next several weeks out on social media each Thursday, I'm going to be talking about how financial planning is really more about time.
• 4:26
  SPEAKER_00: It is the efficient use of your time.
• 4:28
  SPEAKER_00: For example, in financial planning, uh, it frees up a lot of your time if you kind of have a good projection, a good path forward.
• 4:40
  SPEAKER_00: It frees up your time in less worry.
• 4:43
  SPEAKER_00: It frees up your time in that you can go on to the other things in your life and work and family and enjoyment because you're not spending all that time trying to figure these things out.
• 4:54
  SPEAKER_00: You're not spending all that time worrying about these things.
• 4:57
  SPEAKER_00: You go through the financial planning process and you have an understanding of where you're at and what needs to be done to get to where you want to go.
• 5:05
  SPEAKER_00: So that frees up an incredible amount of time.
• 5:08
  SPEAKER_00: Um, so I'm going to break down each component of financial planning and how it's really more about time than money.
• 5:15
  SPEAKER_00: So I hope you tune in uh to that series, and I'll be talking about those each Friday, uh 12:30 p.m.
• 5:22
  SPEAKER_00: Eastern Standard Time on uh Facebook.
• 5:26
  SPEAKER_00: Uh Mike had put out a post uh that referenced some of the things that I talk about uh often in our financial planning and um trying to simplify things.
• 5:37
  SPEAKER_00: If you look at how you can allocate money to any given bucket, if you will, right?
• 5:44
  SPEAKER_00: You have some safe money, you've got your long-term money, uh, maybe you have money that you want to go to charities or to family or legacy money, if you will.
• 5:54
  SPEAKER_00: How do you decide where those go?
• 5:56
  SPEAKER_00: And I try to simplify it for folks because any place that you can put your money really has, in a very uh basic sense, three characteristics.
• 6:08
  SPEAKER_00: You can look at how safe is that money?
• 6:12
  SPEAKER_00: I put a dollar somewhere, I want to know I can go and get exactly a dollar.
• 6:16
  SPEAKER_00: How safe is that money?
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  SPEAKER_00: Two, can that money does it have the potential for dividends and interests or growth?
• 6:25
  SPEAKER_00: I put a dollar somewhere, maybe I get three percent uh interest on that.
• 6:31
  SPEAKER_00: I take my three percent, I still have my dollar.
• 6:33
  SPEAKER_00: Can it grow?
• 6:34
  SPEAKER_00: I place a dollar somewhere, hopefully someday it's worth$10.
• 6:37
  SPEAKER_00: Who knows?
• 6:39
  SPEAKER_00: Uh so it's the safety, it is um the potential for yield or growth, and then what we would call liquidity or accessibility.
• 6:49
  SPEAKER_00: How quickly can I get to it?
• 6:51
  SPEAKER_00: If I place a dollar here, I can go and grab it anytime I want.
• 6:54
  SPEAKER_00: So think about that.
• 6:56
  SPEAKER_00: Think about safety, potential for growth uh or interest, and liquidity.
• 7:03
  SPEAKER_00: So those are the three components.
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  SPEAKER_00: Any place you can put your money has those characteristics.
• 7:09
  SPEAKER_00: But here's the trick you really need to pick two of those three, because very few investments, if any investment at all, will have all three.
• 7:19
  SPEAKER_00: So you need to look and say, okay, for this part of my financial plan, I want to prioritize.
• 7:27
  SPEAKER_00: For example, let me give you the extreme examples.
• 7:29
  SPEAKER_00: If you take money and put it in a mason jar and bury it in the backyard where nobody else can find it, what have you accomplished?
• 7:37
  SPEAKER_00: Well, you've accomplished the liquidity, you know where it's at, and you can go get it.
• 7:41
  SPEAKER_00: Hopefully, you've buried it in a safe enough spot that you've accomplished the safety because nobody else can find it.
• 7:48
  SPEAKER_00: What have you given up?
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  SPEAKER_00: What is the opportunity cost of putting money in a mason jar in the backyard?
• 7:53
  SPEAKER_00: You've given up the potential for it to earn interest andor grow.
• 7:57
  SPEAKER_00: That doesn't make it a bad idea.
• 8:00
  SPEAKER_00: Uh, it's not a great idea, but it doesn't make it a bad idea.
• 8:03
  SPEAKER_00: But you just need to recognize what you have accomplished and what you have given up.
• 8:07
  SPEAKER_00: Conversely, if you look at a very risky investment, maybe you're investing in a startup company or something along those lines.
• 8:15
  SPEAKER_00: Well, what have you accomplished with that portion of your financial plan?
• 8:19
  SPEAKER_00: Well, hopefully you've accomplished uh liquidity if you want to sell your interest in that company and say, I'm done, I don't want to be part of it anymore.
• 8:27
  SPEAKER_00: So hopefully you have access to the money.
• 8:30
  SPEAKER_00: You have accomplished uh hopefully that it will grow.
• 8:33
  SPEAKER_00: That's why you invest in a startup company.
• 8:35
  SPEAKER_00: You usually say, Wow, I think this is gonna be something.
• 8:38
  SPEAKER_00: I would like to get in on the ground floor, if you will.
• 8:42
  SPEAKER_00: What was the opportunity cost?
• 8:44
  SPEAKER_00: The opportunity cost was the safety, because you know that company could do really well or it could go bust.
• 8:50
  SPEAKER_00: And so if you look at those kind of extremes, um you kind of get the idea.
• 8:56
  SPEAKER_00: Uh, more common example, CDs.
• 8:59
  SPEAKER_00: What have you accomplished there?
• 9:01
  SPEAKER_00: Well, hopefully you've accomplished the safety.
• 9:04
  SPEAKER_00: Many CDs, certificates of deposits, have FDIC insurance.
• 9:08
  SPEAKER_00: Many of them do.
• 9:10
  SPEAKER_00: Uh, so there is safety.
• 9:12
  SPEAKER_00: There is the potential for some interest, uh, not a ton of growth, if any growth at all.
• 9:19
  SPEAKER_00: Uh, but you give up a little bit of liquidity.
• 9:22
  SPEAKER_00: Oftentimes in a CD, there is a could be a penalty for early withdrawal.
• 9:28
  SPEAKER_00: So um we we we hope to simplify things so that people can really place money and it serves the purpose that they want.
• 9:39
  SPEAKER_00: Doesn't make the investments bad.
• 9:41
  SPEAKER_00: Just recognize what those pots of money, those parts of your financial plan are accomplishing and what the opportunity cost is.
• 9:47
  SPEAKER_00: Does it make it good or bad?
• 9:49
  SPEAKER_00: Just recognize that.
• 9:50
  SPEAKER_00: And then when we talk about the safety, Mike had elaborated on this a little bit.
• 9:54
  SPEAKER_00: Um, you know, when you look at risk, a lot of people talk to us about risk.
• 9:59
  SPEAKER_00: How risky is this?
• 10:00
  SPEAKER_00: Well, there's risks in everything we do walking across the street, driving a car, owning a home, investments.
• 10:08
  SPEAKER_00: There are different types of risks.
• 10:11
  SPEAKER_00: And so when you look at those, uh you can kind of condense it down and say there's three things you can do.
• 10:18
  SPEAKER_00: And I look at ART, the art of risk management.
• 10:23
  SPEAKER_00: Well, you can avoid a risk.
• 10:26
  SPEAKER_00: Uh, I know something bad can happen, so I'm not gonna do that.
• 10:29
  SPEAKER_00: You could retain the risk.
• 10:31
  SPEAKER_00: I know some, I'm going to do it, but I know something bad can happen.
• 10:34
  SPEAKER_00: And if it does, so be it, I'll deal with it then.
• 10:37
  SPEAKER_00: Or you can transfer that risk.
• 10:38
  SPEAKER_00: You could say, you know what?
• 10:40
  SPEAKER_00: Uh, there are people that I can pay that if something bad happens, they will compensate me.
• 10:45
  SPEAKER_00: So let's take a look at a very simple example.
• 10:48
  SPEAKER_00: Uh, home ownership.
• 10:50
  SPEAKER_00: Uh, Mike actually, maybe next week he'll show us.
• 10:52
  SPEAKER_00: So he had that tree limb go down.
• 10:54
  SPEAKER_00: I think that did knock out his uh his internet.
• 10:57
  SPEAKER_00: But owning a home, there are risks, right?
• 11:01
  SPEAKER_00: A tree can fall down and hit your fence.
• 11:04
  SPEAKER_00: Well, what you can do is you can avoid that.
• 11:07
  SPEAKER_00: You can not own a home.
• 11:09
  SPEAKER_00: You can rent, and then if a tree falls down in the yard, then the owner of wherever you're renting, that's their responsibility.
• 11:17
  SPEAKER_00: So you have avoided it.
• 11:18
  SPEAKER_00: You have avoided the uh risk of homeownership by not owning a home.
• 11:24
  SPEAKER_00: You could retain that risk.
• 11:26
  SPEAKER_00: Now, most people won't let you do this if you have a mortgage, but you could retain it.
• 11:29
  SPEAKER_00: Say, I own a house, I recognize a tree could fall, I recognize the roof could fall off, uh, fly off in the wind.
• 11:36
  SPEAKER_00: If that happens, I'm gonna pay for it.
• 11:38
  SPEAKER_00: So I retain it.
• 11:40
  SPEAKER_00: I know that there are things that could happen, but I say, okay, if something happens, I will cover it.
• 11:45
  SPEAKER_00: I'll put on a new roof.
• 11:46
  SPEAKER_00: I have money to fix the fence with the tree, uh limb falls down.
• 11:50
  SPEAKER_00: What most people do is they transfer it, they get insurance on their home.
• 11:54
  SPEAKER_00: They say, I will pay an insurance company that if the tree falls on my fence, that they will compensate me for that and take care of it.
• 12:02
  SPEAKER_00: So when you look at the risk in your life, you can avoid those risks.
• 12:05
  SPEAKER_00: Driving's the same.
• 12:06
  SPEAKER_00: You can avoid the risk of driving by not driving.
• 12:09
  SPEAKER_00: Um you can avoid, uh, you can retain the risk of driving, which most of those states won't let you do without some level of maturity, but you can retain it and say, hey, if uh, you know, a deer, Western Pennsylvania, this is the time for deer to run around, deer runs into my car, I'll pay for it.
• 12:25
  SPEAKER_00: You could transfer that risk.
• 12:26
  SPEAKER_00: You get insurance on your car.
• 12:28
  SPEAKER_00: You can also do that with your money.
• 12:30
  SPEAKER_00: Uh, you can avoid the risk of investing by putting money in the mason jar in the backyard.
• 12:35
  SPEAKER_00: You can retain it and say, hey, uh, I know these things can go up and down, and uh I'm willing to take my chances.
• 12:42
  SPEAKER_00: And if it goes down, then that's okay.
• 12:44
  SPEAKER_00: I recognize that there's a risk.
• 12:46
  SPEAKER_00: You can also transfer the risk uh in your investments.
• 12:50
  SPEAKER_00: And there's a lot of insurance companies with some products that they have available that effectively what you're doing is transferring the risk.
• 12:57
  SPEAKER_00: So if you take that concept and then you overlay that with how safe are things, how easily accessible they are, and what are my returns.
• 13:06
  SPEAKER_00: If you take those simple concepts and sit down and say, okay, this these are the pieces of my financial life, it will really guide you, in our opinion, uh, to some really very solid decisions that ultimately will give you more time back.
• 13:23
  SPEAKER_00: It will give you more time to move on with other parts of your life because you have taken care of these things.
• 13:29
  SPEAKER_00: So those were kind of the posts this week.
• 13:32
  SPEAKER_00: Um Mike is going to put out on Monday the uh the week ahead.
• 13:39
  SPEAKER_00: So I will leave that to him.
• 13:41
  SPEAKER_00: Of course, Mike's role in our uh firm is uh really on the investment side.
• 13:48
  SPEAKER_00: Of course, you know, there's cash flow, there's the protection or insurances, there's the investments, there's retirement income, there's uh tax minimization, estate minimization, or estate planning ideas.
• 13:59
  SPEAKER_00: Uh Mike really focuses on the investment side, but uh as you can imagine, what goes on in the investments affects all those other pieces.
• 14:08
  SPEAKER_00: So it's a really critical part of what we do.
• 14:10
  SPEAKER_00: David and I work a lot on the financial planning.
• 14:12
  SPEAKER_00: Uh he'll put out uh the week ahead on Monday.
• 14:15
  SPEAKER_00: Uh on Thursday, of course, will be how financial planning is really uh more about time than money.
• 14:21
  SPEAKER_00: And uh hope you will tune in uh for uh Friday live next Friday, uh October 17th, 2025, 12:30 p.m.
• 14:29
  SPEAKER_00: Eastern Standard Time, uh on Facebook and uh we are on Instagram as well.
• 14:36
  SPEAKER_00: Uh if you have any questions, if there are any topics you would like us to address, you go ahead and send us an email.
• 14:42
  SPEAKER_00: Uh, if you go on to our website, right here on our website is the contact section.
• 14:47
  SPEAKER_00: So ww.hpkprovenant.com, there is the contact section.
• 14:52
  SPEAKER_00: Um, also, you can send us an email directly.
• 14:56
  SPEAKER_00: Um, the email address is info at hpkprovenant.com.
• 15:01
  SPEAKER_00: We'd love to hear from you.
• 15:02
  SPEAKER_00: We'd love to hear feedback.
• 15:03
  SPEAKER_00: Uh, we'd love to hear the questions that you would like for us to address.
• 15:07
  SPEAKER_00: We're also going to have some uh guest speakers moving forward.
• 15:10
  SPEAKER_00: Uh, if there's a guest speaker you'd like to see, whether that be in the uh the legal or the tax realm or uh homeownership, um anything along those lines, we'd be glad to do it.
• 15:23
  SPEAKER_00: So everybody have a really great weekend.
• 15:25
  SPEAKER_00: Certainly appreciate you tuning in and uh send us feedback and questions, and we'll be glad to uh cover those on a Friday live.
• 15:35
  SPEAKER_00: Uh I will conclude with some very important information, and I hope you'll stick with us for that.
• 15:42
  SPEAKER_00: Uh, and again, uh hope everybody has a uh really great weekend.
• 15:54
  SPEAKER_00: Securities offered through LPL Financial LLC member FINRA and SIPC.org.
• 15:59
  SPEAKER_00: Advisory services offer through LPL Financial LLC, a registered investment advisor.
• 16:05
  SPEAKER_00: Brian Peluso, Michael Kutch, and David Harper are registered representatives of LPL Financial LLC.
• 16:11
  SPEAKER_00: Content discussed is for informational purposes only and not intended as an offer or solicitation to buy or sell any security or investment strategy.
• 16:20
  SPEAKER_00: Any opinions expressed are those of the authors and do not necessarily reflect the views of LPL Financial or its affiliates, all investments involve risk, including the possible loss of principal.
• 16:31
  SPEAKER_00: This communication may include links or references to third-party websites.
• 16:34
  SPEAKER_00: These links are provided as a convenience only.
• 16:37
  SPEAKER_00: LPL Financial and its representatives are not responsible for the accuracy or content of such sites.
• 16:42
  SPEAKER_00: Brian, Mike, and David and HBK Provident Advisors may only transact business in states where they are properly registered or exempt from registration.
• 16:51
  SPEAKER_00: Please contact us directly for information regarding licensing and registration status.
• 16:57
  SPEAKER_00: Past performance is not indicative of future results.
• 17:01
  SPEAKER_00: You should consult with your financial advisor, tax professional, and or attorney regarding your specific situation before making any investment decisions.