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PODCAST

Wealth-Building Made Simple

Phillip Washington Jr.

Money can be stressful, but it doesn’t have to be! This podcast is about helping people understand their finances and make smart choices for their future.

business investing

All Episodes

17:23

Warren Buffett's Investment Genius

Wealth-Building Made Simple ·

2024/06/25

Key Takeaways:Warren Buffett's strategy of turning a declining business into a thriving investment vehicle can be replicated today. The impact of America being a global reserve currency on local manufacturing and investment opportunities. Businesses in stagnating industries can pivot to investment holding models to boost profitability. Importance of investing in established and emerging growth sectors like AI, cryptocurrency, and automation. Practical steps for business owners: cut costs, reinvest

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20:54

Stagflation and Economic Perspectives

Wealth-Building Made Simple ·

2024/06/24

Key Takeaways: Understanding Stagflation: Stagflation consists of slow economic growth paired with high inflation, affecting sectors and individuals differently. Deflation vs. Inflation: Deflation involves falling prices, often due to technological efficiency or reduced demand. Inflation, on the other hand, can stem from economic growth or excessive money printing. Economic Adaptation: Investing in innovative sectors and maintaining up-to-date skills can help individuals navigate challenging

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10:51

Maximizing Business Sale Success by Avoiding Deal...

Wealth-Building Made Simple ·

2024/06/21

Key Takeaways: Accurate Financial Records: Keeping your business books in impeccable order is crucial for attracting serious buyers and achieving a successful sale. Employee Retention: Ensuring key employees stay during the transition period significantly enhances the business's attractiveness to potential buyers. Customer Diversification: Reducing reliance on a single customer prevents revenue concentration risks, making the business more stable and appealing to buyers. Owner Independence:

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20:36

Exploring the Shift from Petrodollar to Multicurrency...

Wealth-Building Made Simple ·

2024/06/17

Key Takeaways:Historical Context of the Petrodollar System: The agreement between Saudi Arabia and the U.S. mandated the sale of oil exclusively in dollars, creating a strong financial foundation for the U.S. Artificial Dollar Strength: This system led to outsourcing and increased reliance on manufacturing from countries with lower production costs, impacting the U.S. labor market. Shift to Multi-Global Currency System: Nations are pivoting away from the dollar, favoring hard assets and their own

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11:43

Strategies for Making Your Business Attractive to Buyers

Wealth-Building Made Simple ·

2024/06/14

Key Takeaways:Scalability is Key: Buyers seek businesses that can grow effortlessly with minimal stress. Reduce Owner Dependence: Ensure the business can operate independently of the owner. Hire Employees: Long-term employees are more valuable than contractors for sustaining operations post-sale. Keep Accurate Financial Records: Well-organized books and clear financial histories are essential. Network for Buyers: Start communicating with your network and consider business brokers to find potential

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14:23

Navigating Financial Volatility and Strategy

Wealth-Building Made Simple ·

2024/06/10

Key Takeaways:Global Interest Rate Adjustments: Discusses the recent interest rate cuts by various central banks and their implications on the global economy. Natural Flow of Money: Insight into how money flows towards freedom and assets with conservative supply and low debt, and how governmental policies often disrupt this flow. Impact of Interest Rates: Higher interest rates reduce borrowing capacity, while lower rates increase credit creation, affecting market stability. Financial Flexibility:

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13:34

Exploring Business Funding Options

Wealth-Building Made Simple ·

2024/06/07

Key Takeaways:Self-Funding: Bootstrapping your business can be efficient but may not suffice for long-term growth. Bank Loans: Access to immediate capital with the obligation to maintain clean financials and demonstrate future profitability. Friends and Family: While accessible, this funding route comes with personal relationship risks and potential unwanted input in business decisions. Private Equity: Provides significant capital quickly but involves surrendering substantial control and having a

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21:28

Achieving Financial Freedom and System Mastery

Wealth-Building Made Simple ·

2024/06/03

Key Takeaways:Understanding the Economic System: How America's economy has increasingly produced money rather than goods since the 1970s, distorting asset prices and consumer behavior. Impact of Debt and Credit: High levels of credit card debt and buy-now-pay-later schemes can lead to financial instability, particularly when used to finance vacations and lifestyle expenses. Importance of Conservative Money: Emphasizing the role of conservative money in a stable economy, discusses bitcoin as a good

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34:34

Understanding and Navigating Emotions for Better...

Wealth-Building Made Simple ·

2024/06/01

Key Takeaways:Emotions are likened to a car's dashboard, providing signals about our inner state that can inform our financial decisions. Trauma memories, when triggered, can impact current behavior, including financial choices, and require strategies to reprocess and integrate into long-term memory. Practices such as EMDR therapy and mindfulness techniques, including square breathing, can facilitate emotional regulation and help break negative behavior loops. Emotions that are often labeled as

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19:08

A Paradigm Shift in Wealth Creation

Wealth-Building Made Simple ·

2024/05/27

Key Takeaways:Credit creation is the primary driver of money supply expansion in modern financial systems, overshadowing the actual printing of physical currency. The value of money aligns with productivity when credit expansion and productivity are in balance; an imbalance can lead to a loss of money value. Wealth accrues on restrictive properties within stable legal systems, with ample opportunity for credit growth; bitcoin possesses these attributes, setting it up as a lucrative asset

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10:15

The Power of Leveraging Assets for Wealth Growth

Wealth-Building Made Simple ·

2024/05/24

Key Takeaways:The "Buy, Borrow, Die" strategy is designed for high-net-worth individuals aiming to maximize their legacy while minimizing tax exposure. Leveraging appreciable assets through loans can prevent capital gains taxes and provide a means to acquire additional assets. It's crucial to understand and manage the risks, ensuring that assets have sufficient revenue or net worth to cover loan repayments. On the death of the asset holder, heirs receive a step-up in basis, which can significantly

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23:25

Harnessing the Power of Human Imagination and Analytics

Wealth-Building Made Simple ·

2024/05/22

Key Takeaways: Human Imagination versus Analytics: Discover the distinction between the repetitive cycle of the analytical mind and the boundless potential of human imagination in creating wealth. Breaking the Financial Loop: Learn the importance of shifting your emotional response to money in order to break free from self-limiting patterns. Flow State in Wealth Building: Understand how achieving a flow state can enhance wealth acquisition by aligning your actions with an elevated emotional

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23:39

Reprogramming Your Financial Algorithm

Wealth-Building Made Simple ·

2024/05/20

Key Takeaways: Mental algorithms dictate our automatic responses to financial situations, often rooted in emotions from past experiences. Manifestations of scarcity mindset include short-term financial thinking, overconsumption, and an inability to embrace financial volatility. Cultivating a wealth mindset involves daily practice of aligning thoughts with emotions, envisioning financial success, and embracing feelings of abundance. Creative visualization plays a key role – by mentally enjoying

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06:42

Importance of Regularly Reviewing Business Goals

Wealth-Building Made Simple ·

2024/05/17

Key Takeaways: Conducting a thorough mid-year fiscal review can highlight whether a business is on track with budget goals. Fear of numbers often hinders business owners from facing their financial reality, which can impede growth. Financial statements shouldn't just be for tax purposes; they are crucial for informing decisions and strategies aimed at business expansion. Effective financial planning involves the entire team, indicating that success is not a solo endeavor. Regular financial check-ins

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23:40

Analytical Ability Does Not Equal Intelligence

Wealth-Building Made Simple ·

2024/05/13

Key Takeaways: Analytical ability is only one part of overall intelligence; emotional intelligence and creativity also play crucial roles. An individual can become trapped in cyclical patterns of behavior due to unresolved emotional responses, affecting financial and other life decisions. Staying open to change and not identifying oneself with past knowledge is key to adapting and succeeding in an ever-evolving world. Wealth and success come not from predictability but from the ability to creatively

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07:24

Check Your Paycheck: Don't Miss Out on Money You Deserve

Wealth-Building Made Simple ·

2024/05/10

Key Takeaways: Employees should regularly review their paychecks to ensure accuracy in payment, bonus, commission, and benefits. Overlooking your pay statement can lead to undetected errors, resulting in financial losses or unanticipated tax outcomes. Ensuring correct 401(k) contributions and health insurance deductions are vital for long-term financial planning. Annual or frequent paycheck reviews can prevent unwanted surprises during tax season or when needing insurance coverage. Taking personal

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21:34

The Evolution of the Cyberspace Economy

Wealth-Building Made Simple ·

2024/05/08

Key Takeaways: An economy's stability hinges on the balanced interrelation between currency, production, and distribution. Bitcoin is emerging as a preferred form of collateral in the cyberspace economy due to its fixed supply and resistance to manipulation. Technology's role in driving down the costs of production and distribution could result in a deflationary system where the value of money increases over time. Artisans may experience a renaissance, as handmade goods are poised to become

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23:45

Investing Intelligence: Processing Information for...

Wealth-Building Made Simple ·

2024/05/06

Key Takeaways: Investment Intuition: Recognizing the balance between quantitative and qualitative aspects of investing can lead to more informed decision-making. Intuition and feelings significantly influence the attraction to certain investments. The Feeling of Wealth vs. Poverty: Wealth is associated with feelings of freedom, optimism, and security, while poverty often aligns with hopelessness and impatience. Navigating Technology and Progress: Understanding the historical benefits of

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17:23

CPA Experts Discuss Selling and Succession Planning...

Wealth-Building Made Simple ·

2024/05/03

Key Takeaways:CPAs should consider succession planning early, focusing on making their businesses attractive to potential buyers and ensuring client retention. It's vital for CPA businesses to adapt their names and processes to reduce owner dependence, enhancing their appeal and potential market value. Key staff might become prospective business owners; incentivizing with equity stakes might secure a successful and beneficial transition. Aggressive investment of net profits into diverse assets such

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22:24

Bitcoin: A Better Store of Value Than Gold or Real...

Wealth-Building Made Simple ·

2024/04/29

Key Takeaways: Bitcoin is proposed as an ideal savings medium that offers appreciation in value and security against manipulation. The episode parallels the stability of savings-oriented systems with the imbalance of economies rooted in easily-inflatable credit. Comparative insights reveal Bitcoin's superior performance against traditional assets when measuring the purchasing power of oil over the past decade. The gradual but inevitable financial system shift is emphasized as governments and wealth

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202 results

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