Zoom Call 8.15.23 Debe Maxwell Dealing with Inflation in Life and Business

Real Estate Agent with Mapleridge Realty, CT 203-206-0754 REB.0759001

Zoom Call 8.15.23 Debe Maxwell  Dealing with Inflation in Life and Business

Debe Maxwell  Dealing with Inflation in Life and Business

The Zoom call this week was an open forum with attendees offering their insight om how they and their clients are dealing with the higher costs of goods and services as well as rising interest rates.

Debe Maxwell was the moderator, filling in for Carol Williams.. The scramble is on with texts, emails and phone calls with all manner of people phoning to put a hook into unsuspecting consumers for something that they most likely don't need.

Across the nation, people are seeing a cutback in recreation due to the rising costs. People are dining out less; only driving when necessary due to the higher cost of gas.

Due to the high heat across the nation, some areas hotter than others, electric bills are high due to the AC units being so high.

One person offered that in her area it was just noted that some people have little or no reserves to offset a major issue in their lives. 

A service such as Venmo can be audited by the IRS to see where the source of income is coming and to get their share of taxes. 

A dog groomer that would regularly take Venmo stopped the service and added a charge for credit card use.

A listener in CA as well as AZ offered that they have to carry larger sums of cash, to be able to keep charge card costs to a minimum.

Vendors have regularly rounded all purchases up as their cashiers do not know how to make change.

One listener offered that they use their credit cards as a way of getting a return as their cards all offer a percentage of cash back for purchases. Also, using the credit card allows for gaining some additional float on the money sitting in their account.

Dealing with Inflation in Life and BusinessThere was a stretch where the call got off topic and it was brought back with the issue of preparing for retirement, and how some of the seasoned attendees are handling the process.

It was put to those attendees that had at least reached the age of 60. How they are approaching retirement and setting themselves up to retire gracefully.


One attendee spoke of having prepared for retirement years back and he and his wife had set the goal to have their mortgage paid before retirement. He also spoke of the high cost of electricity in his state, and how the utility commission allowed for a 60% increase in the KWH rate they offer on the supply side. With the high costs of electricity due to seasonal temps being so high, people are looking at severe increases in the monthly bills.

A mention was made of getting negotiated reduced rates through the local Chamber of commerce for a 2-year contract,

Another attendee mentioned that through his town of 80,000 people, the town itself negotiated a reduced rate which lowered his bill by 30%.

He also mentioned that he advises his buyers when starting in a new home, to get a budget from the electric company based on previous usage. Some companies will review the usage after at least 6 months to revise the budget payments up or down.

As we are independent contractors, we always have the option as to how we chose to work and select the clients with whom we chose to work. This is important on a few points, as it will always be a supplement to income, but also the interaction with clients would tend to keep the mind sharp.

One lender on the call, noted that a recent statistic shows that 38% of all homes in the country have no mortgage. He also noted that last month, 28% of all sales were cash purchases.

That same individual mentioned that he will always ask agents how much of their income is being put aside for retirement.

The call was well attended and the discussion regarding cost of living and preparing for retirement had most participants submitting information.

Zoom Call 8.15.23 Debe Maxwell  Dealing with Inflation in Life and Business

Posted by


Edward (Ed) Silva
Broker Associate

Serving Central Connecticut Sellers and Buyers

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Comments (21)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Ed... so sorry to have missed the call... but had a last minute request for a listing presentation on Tuesday. What's happening with inflation right now is criminal if you ask me. And I don't believe prices will ever fully fall back. I dealt with inflation recently by purchasing a hybrid car. Since it runs on electric on city streets, I hardly ever need to buy gas and can get close to 600 miles on a tank.

Aug 16, 2023 09:11 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ed, thank you for filling us in with what the topic and results from yesterday's meeting.   Preparing for retirement does have it's challenges, and am hearing from some of my clients, it is getting tougher.

Aug 16, 2023 09:40 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ

Hi Ed sorry to have missed the call but I kept getting cut off on AR and finally just waited till later to get back on.  Personally we have cut back on going out to eat by quite a bit and I don't miss it at all!  It is hard to find good service and good food anyway these days. I find it odd that young folks don't know how to give back proper change - but I see it quite often now. We did retire but did plan that for years and all was well until the last 2+ years when inflation went sky high.  We are doing fine except we are paying about 1 or 2K a month more on basics then before this whole mess started. 

Aug 16, 2023 10:10 AM
Kathy Streib

Yes Anna "Banana" Kruchten all was fine until....

Aug 16, 2023 11:49 AM
Anna "Banana" Kruchten

Yup Kathy Streib ......until

Aug 16, 2023 12:20 PM
Wanda Kubat-Nerdin - Wanda Can!

Yep... Anna "Banana" Kruchten and Kathy Streib...

Aug 16, 2023 05:57 PM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Ed,
I was very sorry to have missed this session. And, thanks to Debe Maxwell, CRS for filling in for me. Maybe I'll write a blog post on what my input would have been.

Aug 16, 2023 10:38 AM
Kat Palmiotti

Yes, Carol Williams - that would be great!

Aug 16, 2023 01:36 PM
Carol Williams

I'll work on it Kat Palmiotti and Debe Maxwell, CRS 

Aug 18, 2023 01:29 PM
Debe Maxwell, CRS

Yes!! What you sent me would be great, Carol Williams! You would have done a MUCH better job than me but, we'll put you down for another one soon! 😉

Aug 18, 2023 12:59 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Sounded like a wonderful and information Zoom call for sure. Thanks for sharing and enjoy your week!

Bill Salvatore, Realtor- Arizona Elite Properties 

Aug 16, 2023 11:21 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks for the recap, Ed. Sounds like it was an informative meeting. Unfortunately my prior appointment ran over.


Aug 16, 2023 11:42 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Ed- any time that our Zoom calls take on a group discussion is a fun and informative call.  Larry and I are both retired but thankfully he is the king of finding the deal for things we need. It's his "hobby" and he enjoys it.  We don't go out to dinner as much because we eat about a third of what we ate when we were younger. 

Often we split an entree rather than waste food unless we want it as leftovers. Our friends do the same thing so I guess we're now the "old" people we used to see. 

Aug 16, 2023 11:53 AM
Anna "Banana" Kruchten

Had to laugh Kathy Streib we do the same thing - split stuff and it's more than enough!

Aug 16, 2023 12:21 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Ed (Edward) Silva, 203-206-0754 ,

Good recap as always. I was looking foward to  the Zoom because when its a group discussion it's always fun with lots of learning opportunities! My appointment went way longer than expected..such is the life of a Realtor!

Aug 16, 2023 12:00 PM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

Excellent re-cap as always. These are some really practical ways many of us can save a few bucks here and there.

Aug 16, 2023 12:14 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Ed I was looking forward to attending last Tuesday's ZOOM Meeting but an issue came up that I had to take care of right away.  Sounds like there was a lot of good discussion!

Aug 16, 2023 01:47 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Inflation has affected every working American, whether active or retired. A few of my clients have backed away from getting a mortgage right now in hopes that interest rates will go down. Thanks for the re-cap, Ed!

Aug 16, 2023 07:00 PM
Eileen Burns 954.483.3912
Trans State Commercial RE Ft. Lauderdale/Miami/Palm Beach - Fort Lauderdale, FL
FLorida Real Estate Connector

As always Ed (Edward) Silva, 203-206-0754 you capture the essence of each and every zoom call succinctly😎 

Aug 17, 2023 06:10 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I was surprised to hear that someone is carrying that much cash around with them, haha.

Aug 17, 2023 08:13 AM
Ed (Edward) Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Nina Hollander, Broker   As with most calls, the interactions of the attendees make the hour fly and the information flows.

Joan Cox   You should make the time to attend one of them to get the full presence of the presentation.


Aug 18, 2023 07:24 AM
Ed (Edward) Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Anna "Banana" Kruchten   So many restaurants have cut back on hours that not going out to eat gets easier. Besides, my wife is an excellent cook.  It also appears to be an insider's tone to the comments left under your comment.  Inquiring minds want to know?  🧐

Carol Williams   You write the post, and we link it back to mine


Aug 18, 2023 07:29 AM
Anna "Banana" Kruchten

Insider tone Ed.  Not really as it's more than obvious to everyone I run into and has for several years. I see folks in the grocery store making choices as to what they can afford and how high prices have gotten.  Many stop and want to talk about it Some folks are shopping at Walmart as the local stores are sky high in price. This isn't going to shift over night, in fact it's going to take some major changes to how things are being managed. We're in a pickle to say the least as a country.  I've seen this before back in the 70's when my parents were dealing with it all.  I'm sure you remember some of those times - 18% interest rates on mortgages

Aug 18, 2023 09:08 AM
Ed (Edward) Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Bill Salvatore - East Valley   It was a good call for sure.

Jeff Dowler, CRS   Work does come first, after all we all have to pay the bills.

Aug 18, 2023 07:30 AM
Ed (Edward) Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Kathy Streib   We have a couple of restaurants in our area that offer Tapas, small plates and we can make a meal out of 2 or 3 of them.

My wife will also just order an appetizer as the can also be filling.

Dorie Dillard Austin TX   At one point someone asked for all that were under 60 raise their hand, it was very still.



Aug 18, 2023 07:33 AM
Ed (Edward) Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Dr. Paula McDonald   As prices keep rising people are looking for more than practical ways to make ends meet.

George Souto   It was a good call and for those considering retiring someday informative.

Aug 18, 2023 07:35 AM
Ed (Edward) Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Wanda Kubat-Nerdin - Wanda Can!   Inflation has put a burden on a lot of people and making all purchases more difficult.

Eileen Burns   For the way I can sometimes ramble, succinctly doesn't get applied very often to my efforts.

Brian England   It was good to see you back on a call.  I was shocked to hear that as well and chose to keep all names out of the post for that reason.


Aug 18, 2023 07:39 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC

Thank you so much for this recap, Ed! I SO wish Carol would have been there as I think the conversation would have been different in a positive way! I did learn something though and will do what I can to carry a little cash with me again!!

Aug 18, 2023 01:01 PM