Posted by Donn Irwin on Oct 04, 2019

      President Bill Potter aka PBP opened the meeting with his signature walk-on song – the one that varies from week to week. This week’s iteration was “Stayin Alive”.

"Stayin' Alive" is a disco song written and performed by the Bee Gees from the Saturday Night Fever motion picture soundtrack. The song was released on 13 December 1977 as the second single from the Saturday Night Fever soundtrack. The band co-produced the song with Albhy Galuten and Karl Richardson. It is one of the Bee Gees' signature songs. In 2004, "Stayin' Alive" was placed at number 189 on the list of Rolling Stone's 500 Greatest Songs of All Time.

 

        

      Our esteemed President used this song to emphasize the importance of the CPR training that many Lakewood Rotarians would be attending at approximately the same time as I am writing this. Kudos to the 20 or so Rotarians that are making our world a safer place and learning how to help folks that need it stay alive.
(This writer gets his CPR training on October 13th).
       Our unapologetic Pres started the meeting at 12:31 by appointing Dan Livingston to give an invocation\thought\prayer\homily etc and Charlene “I love the mic” Miseli to prompt us into the pledge.
PBP then gave a well-deserved shout out to our set up crew regulars – Duncan and the gang.
 
     Steve Enquist took our Foundation donations ($535.00) while Chuckie Hellar sold us raffle tickets and acted as SAA while our senior strongman Joe Quinn greeted us.
Visiting Rotarians = 0. This may be giving our President a bit of a complex as this in now two weeks in a row that there were “0” visiting Rotarians. Hang in there Mr. President, you are doing just fine.
 
      Guests – Jim Sharp introduced a Mike from West Pierce Fire whose last name this writer did not capture. Ron Banner of Clover Park Schools introduced Dr. Carol Jacobs. Dr. Carol is the VP Director of District 2 in the Clover Park School District.
Sunshine – Chuck Hellar announced that Bob Brubeck has completed chemotherapy and will be back in a couple of weeks. Great news!
 
     October 4th 1957 marked the beginning of the Space Age as the Russians launched Sputnik, the first artificial earth satellite.
 
      PBP referred to the day as a “Lakewood Rotary Day”. Prior to the regular meeting there was a Major Projects committee meeting and directly after the regular meeting there will be a Sportsman’s Dinner and Auction committee meeting.
Our Pres then mentioned our newest members – way too fast for me to scribble their names down. Apologies.
      Other announcements:
Steve Mazoff commented on last Saturday’s work party and the hard work done by several Lakewood Rotarians. Greeter Joe Quinn then stood to let Steve know that he was part of the afternoon crew that had to come in after Steve’s crew and “clean up after them”. Good fun!
Kudos where given to Joe Q. for putting together last Friday’s golf outing – also good fun.
Other, upcoming fun events:
October 12th – South Sound Clean up, the Game Farm
October 25th Mini Golf Tournament at Harkness Furniture. (If you haven’t done this event before, you should – good fun and great fellowship).
 
 
      Janie Frasier told us of a competition, actually a popularity contest that will award the winner $20,000.00. It’s an online voting thing. Go to: www.aetnavoicesofhealth.com.
Hope Sparks will use the money for helping children with mental disabilities. You can vote all day every day until Oct.13th or send your email to Janie and she will vote for you.
 
      On October 4th in 1535 the first bible in English was printed. It is known as the Cloverdale Bible. (I’m wondering if Rediske knows when the first bible was printed in Norwegian)?
 
       Mary Horn has a bright idea, or at least the start of one. She is working with Nicole Hancock on a fundraiser for World Polio Day (October 24th). The idea will have something to do with eating Dominos pizza and raising money. Details to come.
       Steve Enquist let us know that District 5020 has pledge forms for donating to Polio Plus. $100.00 a year gets a pin. Forms are on the front desk.
Greg Horn made an announcement that the beer “tasting” event that happens every year raised $2600.00 for Polio Plus. Awesome!
 
 
Deposits (aka fines):
      David Swindale confessed that he had some fun and paid handsomely for it. Andrew Kruse paid to let us know that there is a new Kruse on the way and that his wife got a new job. Congrats on both! Ron Banner let us know that his son made the Steelers pro football team. Andrew Neiditz paid for missing meetings and for announcing the ground breaking for the new multimillion dollar 911 facility. Janie Frasier was up again to fine herself some $$ for talking too much. Gordy Quick stood up to pay a fine in honor of his “integrated” table. PP Gayle Selden sat at the, how can I say this as a politically correct statement….more mature members’ table, where Gordy and others always sit. This writer isn’t sure if the “integration” meant someone younger than 50 at the table or that there was a woman amongst them. Mary Marlin thanked Peter Marsh for setting up the African Safari item for the Sportsman’s Auction. I didn’t catch how much she was grateful in dollars but do know she said she had a fabulous time. (Note to PBP regarding future deposits – Mary’s traveling partner was not in attendance as she is evidently still traveling. I don’t know her name but her initials are Barbara Spriggs). PBP called out Joe Quinn for his appearance in the Lakeside Living Magazine as the center fold….a great picture of Joe doing some heavy lifting in a weightlifting contest. Joe donated to Polio Plus.
 
      October 4th 1927 marked the beginning of the sculpting process on Mt. Rushmore.
 
      The bank then stopped taking deposits and PBP introduced Andrew Kruse, the program guy, to introduce our panel of “experts” on finance. Andrew introduced Mark Edgecomb - CPA, Chris Kimball – Financial Planning and Jim Weinand, CPA.
 
      Our three panelists (and club members) were seated before us and Andrew acted as an emcee/inquisitor. Andrew asked that the panel introduce themselves and tell us a bit about themselves. The bios were very brief:
 
Chris Kimball – sold electronics years ago and was in serious credit card debt. He was directed/encouraged to become a financial planner…the rest is history.
Mark Edgecomb – Met his wife while in the South Pacific in 1987. Was in clothing sales for many years and then went to school to become a CPA.
Jim Weinand – Went to college in the late 70’s and got his degree. Put his name on the business in the mid 80’s and it’s still there.
 
 
Q&A
Q: What do we need to do to increase our earning potential?
Jim W. – Education
Mark E. – In a politically correct statement Mark let us know that “we record (read CPA’s here) what you did, not what you are supposed to do”.
Chris K. – Do not become a musician. Older people say that they would have taken more risk if they had it to do over again i.e. start their own business. If not that but joining the corporate world they would have started early and stayed late. Chris made a point that one should be pragmatic about making a living versus doing “what you love to do”.
 
Q. What is the biggest expense that people should invest in?
 
Chris K. – Not a collector car.
Mark E. – Education
Jim W. – A house
 
Q. What is human capital?
 
Chris K. – What you are worth based on what you can do.
Mark E. – (Adding to Chris’s statement) Also, what kind of difference you make.
 
(Writer’s note: NOUN the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country).
 
Q. What other things, if not entrepreneurial, should one invest in?
 
Jim W. – Education
Chris K. (Writer: I think it was at this point that Chris said this): If you bought a house in 1955 for $50,000 it would be worth $2.5 million today. If you had invested that same amount of money in the stock market it would be worth a gazillion today (writer: or somewhere around there).
 
Q. What are the proper amounts and types of insurance we should look at?
 
Chris K. – Simple version:  Life and Disability. The “normal” Property/Casualty etc. Look at umbrella coverage. Whole life insurance – you pay more early but the amount stays the same throughout the life of the policy and builds cash value. Term life insurance is cheaper if you are young when you buy. When the term ends you get nothing.
 
Books recommended:
Rich Dad/Poor Dad and the Millionaire Next Door – Peter Marsh
Thou Shall Prosper and the Saga of Ike & Penny – I think it was Chris but not sure who recommended these two. (Editor’s note: “Saga” was also written by Chris)
 
In an unprecedented move PBP gave a sage piece of advice…if you pay for a CPA report, read it. BAM!!
 
A final question from the audience was asked: Is there something that we should be doing that a CPA knows and we don’t?
 
Mark E. – See a CPA Writer’s note: (?????)
Chris K. – If it’s too good to be true it usually is.
General consensus of the panelists: Keep your personal expenses separate from your business expenses.
 
This forum provided a welcomed break from our regular format as the program involved our own members and a topic of interest that touches our everyday lives.
I figured that the meeting would be short because the topic lent itself to the age old philosophy that seems to work every time:
 
Buy low/sell high.
 
 
Rob Erb possessed the winning raffle ticket and hit the jackpot for $5.00.
PBP rang the bell and thus ended yet another Lakewood Rotary Club meeting.
 
Next week’s meeting features our own Eric Quinn and Nicole Hancock. They will be giving us an Auction Committee update. Will we hear a new rap to get us amped up for our big fundraiser?
 
Oh yes, if you read this bulletin, tell Greg Rediske so you can get a make-up for a missed meeting. And if you shop online, please do so at Amazon Smile so a portion of your purchase can be allocated to Lakewood Rotary.
 
 
Above: Battalion Chief Scott Adams of West Pierce Fire and Rescue, teaching Lakewood Rotarians how to do CPR. Thank you, Scott and West Pierce for this indispensable training!
 
 
 
 
 
 
 
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