PODCAST

Wealth Formula Podcast

Buck Joffrey

Financial Education and Entrepreneurship for Professionals

business investing

All Episodes

41:09

394: Beyond Real Estate: How to Cash Flow with Stocks

Wealth Formula Podcast ·

2023/10/08

My portfolio is not what most would call diversified. I am about 70-80 percent real estate, 10-15 percent and about 10-15 percent higher risk stuff. My only stock exposure is only high-risk stuff like mining companies on the Toronto Stock Exchange. To be clear, I am not advocating for this approach. That’s just what has worked for me up to this point in my life. I should add that, unlike ten years ago, I am also far more open minded to expanding my investments into different areas. That’s why our

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35:15

393: Economic Impact of Emerging Technologies

Wealth Formula Podcast ·

2023/10/02

Last week I talked about asymmetric investing and gave you an example of one of my own higher risk bets—Hedera with its HBAR Token. Right now, that cryptocurrency market is still sleepy. So, if you are motivated to do so, you could easily find a few tokens that are 10 percent or less of what they cost in the frothy market of two years ago and grab them. Of course, you would want to make sure those tokens had good projects behind them first. The thing is most people won’t do that. In fact, most NEW

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33:01

392: Back to School: Tax Mitigation

Wealth Formula Podcast ·

2023/09/27

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58:13

391: Hedera/HBAR: My Asymmetric Dream

Wealth Formula Podcast ·

2023/09/25

Last week I did a back-to-school episode for you on asymmetric risk. I told you that my primary asymmetric risk related investments are in cryptocurrency. As a reminder, asymmetric risk investing means you throw in some money that, if you lose it, isn’t going to kill you. But on the other hand, if things go well, could make you rich. Cryptocurrency has done both for a lot of people. In fact, in many cases it has done both to the same people at different times (yours truly included). Let’s take a

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14:51

390: Back to School: Asymmetric Risk Investing

Wealth Formula Podcast ·

2023/09/20

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58:07

389: Back to School: Maybe This is All You Need?

Wealth Formula Podcast ·

2023/09/17

So far in our back-to-school series, we have covered asset protection, estate planning and my capital allocation strategy. Wouldn’t it be great if you could hit all these important concepts with a single investment? Well, as it turns out, you sort of can. Let me back up and tell you a story. When I was fresh out of surgical residency and started to make some money, I started looking for advice on what to do with it. One of the questions I had was about life insurance. I was a newlywed and had a baby

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32:31

388: Back to School: Buck's Investment Philosophy

Wealth Formula Podcast ·

2023/09/13

Asset Allocation Diversification and Leverage Permanent Life Insurance and the Wealth Accelerator Multi-Family Real Estate Asymmetric Investing: Taking a Risk How to Avoid Single-Point of Failure?

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41:43

387: Lessons from a Sovereign Wealth Fund Manager

Wealth Formula Podcast ·

2023/09/10

Zulfe Ali is a broker dealer and investment advisor—but not your run-of-the-mill type in this field. He’s been in the middle of the action on Wall Street as a mergers and acquisitions guy for JP Morgan and Bank of America in the 90s and ran a multibillion-dollar sovereign wealth fund for over a decade. I’ve seen photos of him with world leaders like former UK Prime Minister Tony Blair and others as part of his former position. To say the least, he’s not one of those 6 week course advisors out there

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28:10

386: Back to School: Estate Planning

Wealth Formula Podcast ·

2023/09/06

Return to Personal Finance: Estate Planning Do You Need a Will? Is the Estate Tax Stupid? Avoiding the Estate Tax

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29:12

385: Should you buy Silver?

Wealth Formula Podcast ·

2023/09/03

Those of you who have been listening to me for a while know that I am not really a precious metals guy. I know the arguments and I respect them. Gold has held its price over an unprecedented amount of time. An ounce of gold got a guy a nice toga and sandals in Roman times and today it will get you a nice suit and a pair of shoes. In that regard, gold has been the ultimate hedge if you are looking for wealth preservation over a thousand years. And that’s what people selling you gold will tell you

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36:45

384: High Mortgage Rates Does Not Equal Housing Crash

Wealth Formula Podcast ·

2023/08/30

I live in Montecito, CA. It’s a small beach town of about 5 thousand people at the southernmost part of Santa Barbara. I moved here from Chicago in 2017 and started living here as a renter. One thing I learned over the years is that whenever I move to a new area, I always end up finding a part of town I like better so it’s best not to buy right away. There was also quite a bit of sticker shock when I moved here. In the northern suburbs of Chicago where we moved from, I paid $2 million for a 7000

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34:01

383: Back To School: Asset Protection

Wealth Formula Podcast ·

2023/08/27

I don’t know about you but my kids are about to head back to school. In this spirit of that, I thought it might be nice for us to get back to basics as well. For the next few weeks, I will be releasing at least one podcast that involves the basics of personal finance in addition to whatever else may be on the docket. This week’s back-to-school episode is about asset protection and my guest is Doug Lodmell. Make sure to tune in and let me know if these shows are helpful!

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42:39

382: Should You Consider Buying a Franchise?

Wealth Formula Podcast ·

2023/08/20

I have a medical degree and am a former board-certified surgeon. Yet that is not my identity. My identity is that of an entrepreneur and investor. This is an identify for which I did not go to school. Without trying to sound dramatic, I was born this way. I think it’s a genetic thing. You see my dad came to this country in the late 1960s and trained as an engineer. He eventually got caught doing real estate on the job and got fired shortly after I was born. That’s sort of my story too—I was working

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30:11

381: Clean Energy Solves Only Part of the Problem

Wealth Formula Podcast ·

2023/08/13

It turns out that the conversation about getting out of fossil fuels and into green energy is a lot more complicated than just energy. Of course “black gold” has literally fueled our society into its wealthiest state since the beginning of man. No one argues that. But there is a clear movement globally to try and move to clean energy for the sake of the environment. Beyond energy, however, oil plays a pivotal role in the manufacture of several products that we rely on in our daily lives. For

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29:28

380: Investing Through the Eyes of a Fighter Pilot

Wealth Formula Podcast ·

2023/08/06

It has been a tough year for real investors. Inflation and interest rates have created distress and uncertainty. But let me remind you of a few things. Investing isn’t for the faint-hearted. EVERYONE loses at some point. The idea that you can always win is a fallacy. Of course everyone would agree with that statement rationally. However, our brains are not wired to think rationally in stressful times. It’s a tall order. There is a concept in psychology called “loss aversion” that means we are wired

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41:19

379: Do Human Cycles Drive Economic Cycles?

Wealth Formula Podcast ·

2023/07/30

I was in high school when the Berlin Wall came down. The ensuing decade was really like no other I have experienced in my life. It was the 1990s. There was no more cold war. Decades of fear of nuclear annihilation vanished into thin air. And 9/11 had not yet happened so we did not yet know the new world of terrorism. It could be that I was young and stupid but life seemed good. The news of the day was about Monica Lewinsky’s stained dress and political conflict seemed ludicrous but benign. Back

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26:35

Bonus Episode: Breakthrough in Early Cancer Detection?

Wealth Formula Podcast ·

2023/07/24

Shownotes: 0:00:00 - Advancements in Cancer Detection Technology 0:00:35 - GRAIL Galleri test 0:02:11 - About Dr. Josh Ofman 0:05:14 - Cancer really is a disease of the genome 0:12:35 - Various guidelines for early detection of certain cancers 0:16:45 - Cancer Detection in Blood Biology 0:19:03 - Cell-Free DNA 0:23:38 - How many cancers is the GRAIL Galleri test able to detect?

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31:39

378: Forcing Schools to Teach Financial Literacy

Wealth Formula Podcast ·

2023/07/23

Why is financial education not part of our school system? To understand that, you have to understand where our school system came from. Our educational system started during the industrial revolution and was influenced heavily by the Prussian system. What do you think of when you hear “industrial revolution?” I think of factories and conveyor belts. This was a time of massive production gains in the United States and a fundamental change in the way we live. So not only did businesses need to produce

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39:34

377: Why is Oil Still Expensive Despite Clean Energy?

Wealth Formula Podcast ·

2023/07/16

This week’s podcast is about energy. But before we do that I want to comment on a few things about our investing ecosystem. A decade ago when I first started playing around with this podcast concept I was very excited about a whole new world of investing that I was learning about. Why invest in the stock market if you could invest in real estate, oil and gas and other businesses that seemingly made a lot more money and had a lot less risk? A decade later, I can see why it often makes sense for

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31:08

376: What Big Data Has to Say about Home Prices

Wealth Formula Podcast ·

2023/07/09

What a crazy ride it’s been. Despite Covid, plunging interest rates actually made home prices explode to new highs. In my own neighborhood, housing prices doubled. Then it started to look like the housing bubble had started to burst. There were mortgage companies in distress and laid off thousands. Economists warned the next housing recession was upon us. It all made sense. How could such a wild ride not end with a hangover? But then a funny thing happened. For the last few months, housing prices

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