PODCAST

Wealth Formula Podcast

Buck Joffrey

Financial Education and Entrepreneurship for Professionals

business investing

All Episodes

06:22

A Proven Path to Entrepreneurial Success

Wealth Formula Podcast ·

2024/05/31

Buck shares the similar path that almost every successful entrepreneur he knows took.

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23:02

433: News of the Week 05/29/24

Wealth Formula Podcast ·

2024/05/29

The upcoming wealth transfer from Baby Boomers to younger generations is a significant and unprecedented event in history, often referred to as the "Great Wealth Transfer." Research indicates that about half of this $100 trillion transfer will go to Gen X, with the other half going to Millennials and Gen Z. This generational shift is interesting, as Gen X has been described as less altruistic, preferring to retain wealth for themselves, compared to the younger generations' greater focus on social

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30:22

432: Wealth Transfer to Gen Z: A Generation that...

Wealth Formula Podcast ·

2024/05/26

The Baby Boomer generation (born 1946-1964) was historically the largest, peaking at around 78.8 million in 1999 when they were in their prime working years. However, the current Baby Boomer population in the U.S. as of 2019 is estimated to be 71.6 million, having declined due to mortality exceeding births as this generation ages. The Millennial generation (born 1981-1996) has now surpassed the Baby Boomers to become the largest living adult generation in the U.S. As of 2019, there were 72.1 million

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31:02

431: Wealth Formula Banking Webinar Replay

Wealth Formula Podcast ·

2024/05/24

Buck Joffrey is joined by Rod Zabriskie and colleagues of Wealth Formula Banking to discuss this powerful financial tool that leverages your savings to invest the same money at two places at the same time.

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18:51

430: News of the Week 05/22/24

Wealth Formula Podcast ·

2024/05/22

Takeaways Tax policies can have a significant impact on businesses and individuals, and it's important to plan and adapt accordingly. The depletion of social security funds is a concern, and solutions need to be implemented to address this issue. The stock market has been performing well, with the Dow Jones hitting all-time highs and the S&P and NASDAQ showing significant gains. Diversification is key in managing investments and mitigating risks. Having a strong financial team, including tax

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30:59

429: Taxocracy

Wealth Formula Podcast ·

2024/05/19

Tom Wheelwright, my friend and author of Tax-Free Wealth, describes the US tax code simply as a series of government-sponsored incentives. As someone who hates paying taxes, this fact has made me extraordinarily patriotic. The problem is, that sometimes incentives backfire. Case in point—during the British Raj rule in India, there was a proliferation of venomous cobras in Delhi. To deal with this problem, the colonial government introduced a bounty/reward program where people would be paid a cash

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18:10

428: News of the Week 05/15/24

Wealth Formula Podcast ·

2024/05/15

My key takeaway from our guest (Ryan Bourne from the Cato Institute) on this week's episode is that policy mistakes that adversely impact the free markets happen for a variety of reasons: Misread of data Poor use of policy tools Political motivation National Security interests Whatever the reason, the consequences of policy mistakes are real for investors. For example, the FED let inflation run too hot when it thought it was transitory, which probably then created a situation where they had to

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32:59

427: A Libertarian Perspective on the Market Economy

Wealth Formula Podcast ·

2024/05/12

I have frequently described myself as most aligned with libertarian thought when it comes to my own politics. In terms of the economy, libertarians believe in the concept of a free market. Libertarians argue that a truly free market fosters prosperity, innovation, and individual liberty. But that doesn’t really describe the American economy, does it? Over the years, the American economy has seen a proliferation of regulations at the federal, state, and local levels that have significantly

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23:55

426: News of the Week 05/08/24

Wealth Formula Podcast ·

2024/05/08

Regarding the recent Podcast: US debt fears overblown US debt is high, but not unsustainably so (compared to global economies) A more relevant concern may be focused on the appetite or ability of investors to buy the quantum of debt being issued by the US government. Foreign investment in US debt has declined China and other central banks have been buying gold US treasury auctions are historically large ($125 billion on auction this week) As investors how do we position our investment portfolios

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25:05

425: The US Government Ponzi scheme?

Wealth Formula Podcast ·

2024/05/05

Is it me or is no one talking about high U.S. debt levels anymore? Conventional wisdom has always been that high debt levels lead to inflation and the destruction of currencies, and money printing conjured up images of wheelbarrows full of worthless bills and economies in freefall. Then one day, the political party that used to care about fiscal responsibility stopped caring and now no one talks about it anymore. After all, doing so would involve cutting things like Medicare and Social Security—not

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01:01:09

424: Richard Duncan: U.S. Strong China in Trouble

Wealth Formula Podcast ·

2024/04/28

I have been asked by many to give my opinion on where the economy is headed and what to do. I have been reluctant to do so because I am not an economist and I do not want to give investment advice. However, I do think I owe it to you to let you know where my head is and what I am doing based on these thoughts. Last week and this week’s podcast have convinced me that rates are going to fall significantly over the next 6 months. Why? Because I think that inflation, as measured by CPI is going to fall

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39:58

423: Campbell Harvey Says the Fed is WRONG on...

Wealth Formula Podcast ·

2024/04/21

Even really smart people are wrong on a regular basis. I see this all the time in health and longevity-related issues on my other podcast, . In case you are wondering…yes, I have become one of those middle-aged California guys trying to stay young at all costs. Not easy. But, I have to admit, the nerdy physician scientist type in me is having lots of fun with the science and enjoying the process of sharing it with my fellow Gen-Xers who are also fighting gravity with me. But getting back to the

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41:12

422: Avoiding Ponzi Schemes and Bad Actors

Wealth Formula Podcast ·

2024/04/14

The notion of moving wealth away from Wall Street into the hands of small private operators sounds great. However, it’s important to acknowledge some of the challenges of navigating these waters; challenges that many have witnessed first-hand in the podcast ecosystem over the past two years. First and foremost, let's talk about vetting. Investing is hard. With the ideal operator and business plan, you still have economic cycles, inflation and interest rates to worry about. And sometimes, projects

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33:24

421: Turn Your Empty Space into a Self-Storage Business

Wealth Formula Podcast ·

2024/04/07

As soon as I finished training, I opened up a cosmetic surgery business. When I say business, I mean a business not practice. From day one, it was my intention to create a brand that I could hand off or sell someday rather than to create a job for myself. I was also focused on cosmetics. Unlike the traditional way of growing a cosmetic practice, I wasn’t going to see insurance-based patients for 10 years and slowly build a referral base. Nope. I hit the airwaves and pounded the internet any true

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32:39

420: Realtors Make Legal Settlement: Changes Made to...

Wealth Formula Podcast ·

2024/03/31

The cost of real estate transactions affects everyone regardless of whether you invest in real estate or not. Why? Because the cost of the transaction will ultimately be included in the price of the real estate. One of the biggest costs in a real estate transaction is the commission paid by the seller. In the last several years, the way that commissions have worked at the residential level is that the seller’s broker collects the commissions and shares them with the buyer’s broker. However, that

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35:58

419: The Ins and Outs of ATM Investing

Wealth Formula Podcast ·

2024/03/24

Last week I sent an update on the which currently has a live tranche. The email I sent, for reference, is below. The email prompted a number of questions that I answered and also thought it would be useful for my partner, Daryl Heller, who is also the majority owner of the operating company, to join the podcast and discuss the world of ATM investing once again. This is a sophisticated business model that is worth understanding. Paramount is one of the biggest players in this space and Daryl offers

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32:06

418: Using Math to Your Advantage

Wealth Formula Podcast ·

2024/03/17

In the long run, math is pretty much always right. That’s why insurance companies are so profitable. They make predictions using the law of big numbers. Math can predict pretty much anything. Even Sports! I just re-watched the movie Moneyball about how the Oakland A’s made an improbable run in major league baseball in 2002 by leaning less on star players and heavily on analytics generated by a nerdy Yale economics major. The genius of applying mathematical principles isn't confined to the boardroom

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50:03

417: Market Update from a Former Sovereign Wealth...

Wealth Formula Podcast ·

2024/03/09

I feel like I am going through another major transition in my life. I turned 50 last September—a fact that I deliberately chose not to publicize. I hate to admit it, but much of my behavior is stereotypical divorced midlife crisis stuff. I got a Ferrari, I’ve been working out incessantly and…I’ve been considering adding publicly traded equities to my portfolio. The last one might be the biggest surprise to you and to me. For the last decade, Wealth Formula has consistently bashed the stock market

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30:30

416: Artificial Intelligence: The Mother of All...

Wealth Formula Podcast ·

2024/03/03

In the latest surge of technological evolution, one titan stands out, reshaping our landscape with the silent swiftness of a revolution: Artificial Intelligence, or AI. It's a term that sparks a spectrum of emotions, from exhilaration at the dawn of a new era to trepidation about the unknowns it brings along. As we stand on the precipice of this bold new world, it's impossible not to marvel at how AI has already begun to weave its threads into the fabric of our daily lives. From the simplicity of

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33:47

415: Tax and Return: Judge Glock

Wealth Formula Podcast ·

2024/02/25

“I’m from the government and I’m here to help.” Ronald Reagan described those as the most dangerous words in the English language. I generally agree with the Gipper who I have fond memories of extending back to the 1980 presidential election that I watched with interest as a kindergartener. When the government gets too big, it gets dangerous and sloppy, and it costs too much. And like other monsters, it’s got to eat. It does this through taxation. Now if that monster was lean, mean and efficient,

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