PODCAST

Wealth Formula Podcast

Buck Joffrey

Financial Education and Entrepreneurship for Professionals

business investing

All Episodes

36:36

355: Should You Buy Gold?

Wealth Formula Podcast ·

2023/02/12

When you are in the alternate investment space like me, everyone assumes you are a gold guy. I used to be. The idea of gold holding its value over time is very real. An ounce of gold in the times Christ would buy you a nice toga and sandals. Now, an ounce of gold will buy you a nice suit and shoes. Admittedly, that is a pretty darn good track record. So does gold belong in your portfolio? Well, for me, gold is not an investment. It’s money. So to the extent that you may want to have some of your

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35:43

354: Short Term Rentals=Hidden Tax Gems

Wealth Formula Podcast ·

2023/02/05

I’ve never spent much time on the concept of short-term rentals (Vacation Rentals) before because it didn’t sound particularly appealing to me. But after interviewing Tim Hubbard for this week’s podcast, I may have changed my mind. Here’s the deal. Unless you are a limited partner in a syndication, there is no such thing as truly passive income in real estate. If you want your asset to succeed, you are going to have to do some work for it. And for me, making $300 per month for anything that takes

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38:56

353: Updates from the Wild West of Crypto

Wealth Formula Podcast ·

2023/01/29

Digital currency is not dead. But it was wounded pretty badly over the past few months. Paradoxically, the undoing of the decentralized world happened from centralized companies and individuals like Do Kwon of Terra Luna and Sam Bankman-Fried of FTX. Ultimately, the greed of both these individuals and the flawed platforms that they ran resulted in billions of dollars being lost in the market. No one was immune. Companies like BlockFi ended up declaring bankruptcy and others, like the Grayscale

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01:02:52

352: You Can Live A LOT Longer Than You Think

Wealth Formula Podcast ·

2023/01/22

What is all this wealth stuff for anyway? I have spent the last 15 years trying to accumulate wealth. It wasn’t until about two years ago that I decided to start spending it. Why? Well, there were some major changes in my life and it made me think about mortality. Don’t worry…my health is great. But everyone has to die someday right? Before this realization, I was doing what pretty much all responsible professionals do. I was working hard and wouldn’t spend much money on myself. In hindsight, I’m

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34:18

351: Seeking Discomfort in Life and Business

Wealth Formula Podcast ·

2023/01/15

If you read business or entrepreneurial books you are probably sick of people telling you that you have to take risks and get uncomfortable. I get it. But what are you doing to take risks and to get uncomfortable? After all, it’s really the only way to grow in your career or in your life. These concepts apply to everything. Think about all the things you didn’t do in life but would like to. Maybe you should try to do some of those things? After all, what’s the purpose of wealth? It is to have the

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39:06

350: Reagan’s Budget Director Forecasts Rocky Roads...

Wealth Formula Podcast ·

2023/01/08

We are in a unique period of time with the economy. We know something is going to declare itself soon enough but have no idea when or what it will look like. This time it’s not just the contrarians. Everyone is predicting some kind of trouble in the coming months ranging from a mild recession (Biden) to an all out zombie apocalypse. Even the big brain contrarians differ on what lies ahead. Jim Rickards sees a rapidly coming deep recession followed by the Fed capitulating its hawkish stance. Nomi

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29:06

349: The Next BIG Technology

Wealth Formula Podcast ·

2023/01/01

The new year makes me think about how things keep changing so rapidly (including my age). For those of us who went to high school in the era of pay phones, it is a truly remarkable trajectory and it makes me wonder what the next few decades will unfold. There are so many technological advances in Science and Technology that have already laid the foundation for a completely different world. As a former practicing physician, I can’t help but be excited about things like longevity science and

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41:30

348: Jim Rickards: Inflation, Interest Rates and the...

Wealth Formula Podcast ·

2022/12/25

I hope you all had a wonderful Christmas! As we head into the last week of the year there is much to reflect upon. The last few years have been absolutely bonkers. If someone had told me in mid-2019 that a global pandemic would happen, and the world would be practically paralyzed for the next two years I would never have believed it. Oddly, during 2020-2021, the stock and real estate markets did great! Historically low interest rates made cheap money abundant for investors and, for that reason, the

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28:28

347: China is Cashless…Are We Next?

Wealth Formula Podcast ·

2022/12/18

As you know, we have an Automatic Teller Machine offering and you can take a look at it at I’ve personally been invested for 6-7 years without issue. That’s not surprising as the use of cash continues to increase in the US. The biggest risk to investing in this type of asset is obvious—the end of cash. Is it possible? Yes of course it is. In fact, I would say that there is a high probability that we will be a cashless society. China is there already. However, we are not China. There are many

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37:13

346: What’s the Big Deal about DeFi?

Wealth Formula Podcast ·

2022/12/11

The cryptocurrency markets have been crushed and don’t be surprised if they go even lower once the full extent of the FTX meltdown is realized. However, it’s clear to me that this in no way is the end of cryptocurrency. Believe me, I’ve been around crypto long enough to have seen it declared dead several times over. It won’t happen. The reason for this is that behind cryptocurrency is a technology. It’s not just tulips. Tulips didn’t do anything. Underlying crypto assets lies decentralized

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38:35

345: Should You Consider Buying Franchises in this...

Wealth Formula Podcast ·

2022/12/04

It’s cold outside…even in Santa Barbara. The real estate markets are especially frozen now and will continue to be at least for the next couple of months into the new year. Why is this happening? Real estate, more than any other investment, is highly dependent on interest rates. Right now, there is simply too much volatility for reasonable underwriting. To be clear, it’s not HIGH interest rates that are the problem. It’s moving goalposts. All markets hate uncertainty. That said, we need to keep

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38:41

344: Ask Buck: 11/27/22

Wealth Formula Podcast ·

2022/11/27

Happy Holidays everyone. I'm very thankful for you Wealth Formula Nation! It is a great pleasure for me to serve you as clarifier-in-chief at Wealth Formula. Listen in to this week's edition of Ask Buck. We talk about real estate depreciation issues, asset protection and more! Don't miss it!

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30:14

343: Ask Buck: November 2022

Wealth Formula Podcast ·

2022/11/20

It's been a while but this week's episode of Wealth Formula Podcast is the latest "Ask Buck" episode. As you know, most of the time I interview other people so I don't get a chance to talk to you directly. These episodes are great for learning. In fact, go back and listen to the last 10 “Ask Buck” shows and you will know as much as I do about personal finance! This week we have questions about multifamily investment opportunities, the Theory of Population Collapse, and bonus depreciation. Make sure

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38:57

342: Blockchain is Not Dead

Wealth Formula Podcast ·

2022/11/13

Warren Buffet talks about being greedy when others are fearful. I think it’s fair to say that there is a great deal of fear in the financial system right now with interest rates climbing as quickly as they are. Eventually, this will lead to distress in all financial markets. The stock market is already down—especially tech stocks. The Real Estate market is frozen. There is very little trading. That’s why our investor group has not acquired anything since May. The worst part about where we are now in

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53:20

341: Why Now Is The Perfect Time For High Cash Value...

Wealth Formula Podcast ·

2022/11/06

As we get closer to the end of the year, I know a number of you are trying to figure out how to deploy capital. We will have some opportunities that are not real estate oriented. I also believe that it is a surprisingly good time to consider various life insurance strategies that we have discussed before. I have included the email sent to me on this topic by Rod and Christian and they will be my guest on this week’s Wealth Formula Podcast. Make sure to listen in! —————————————————————————— We

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32:50

340: No Risk It, No Biscuit

Wealth Formula Podcast ·

2022/10/30

What makes for a highly successful entrepreneur or investor? It is the appetite for calculated risk. As Bruce Arians, coach of the Tampa Bay Buccaneers famously says, “No risk it, no biscuit”. In entrepreneurship this might be more obvious. You probably know entrepreneurs who took risks by leaving their day job and pursuing a business that they KNEW was going to be successful. I’m one of those guys. In my case I got fired from a job that helped accelerate the development of my first business. But

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36:56

339: The Great Distortion: Dr. Nomi Prins

Wealth Formula Podcast ·

2022/10/23

The last 15 years have been a game of chicken between the Federal Reserve and the financial markets. Think about the old movies where the kids would speed in their cars towards each other until someone decided to quickly turn out of the way and avoid collision and certain death. Similarly, the financial markets and the Federal Reserve have been trying to figure out who would chicken out first for the past several years. Let me give you an example. Despite COVID shutting down the entire country, the

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31:37

338: The Road Less Travelled with Dr. Irene Lambiris

Wealth Formula Podcast ·

2022/10/16

If you made it out to our event last weekend I want to thank your for taking the time to prioritize our meetup. And if you were there, I’m guessing you were not disappointed. We had a few familiar faces in the morning talking about taxes and asset protection and some great presentations around asset allocation, the economy and bitcoin mining. But what I think really blew people’s minds were the talks on longevity by Dr. John Foley and Dr. Rob Hamilton. This is something we are going to do more often

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26:55

337: Computer Chips are Sexy and Profitable (Well...

Wealth Formula Podcast ·

2022/10/09

Boring is Good when it comes to investing. I’ve started hearing others echo that sentiment lately. I’m not sure if I had something to do with it but I’m glad that message is spreading in the podcast ecosystem. A decade ago, I used to be perhaps the busiest cosmetic surgeon in Chicago. I worked hard and got great results. And you know what…when the economy was good, I was crushing it. It’s how I made my first million. From the outside, the cosmetic surgery field is glamourous and sexy. So are medspas

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37:10

336: We’ve Had High Inflation for YEARS and Didn’t...

Wealth Formula Podcast ·

2022/10/02

I guess by now you've heard—we’ve got some inflation problems in the United States and globally and Central Banks are going to continue to ratchet up interest rates in attempts to reverse the tide. But wait a second. Why inflation now? Didn’t we print billions of dollars over the last 15 years or so? Why didn’t we have inflation then? Well, we kind of did actually. We’ve had historically low interest rates and quantitative easing since 2008. This kind of “money printing”, however, does not really

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